rebalance to strategic asset allocation

NO.PZ202206210100000504 问题如下 In the cantes’ responses to Fox regarng the relevant characteristiof asset classes, the statement this least accurate is: A.Kelly’s regarng correlations. B.Trainor’s. C.Kelly’s regarng rebalancing. SolutioB is correct. Although Trainor is correthasset classes shoulversifying, low pairwise correlations with other asset classes is not sufficient. asset class mhighly correlatewith some linecombination of the other asset classes even when pairwise correlations are not high. Both of Kelly’s comments are correct: Asset classes shoulhave high within-group correlations but low correlations with other classes. If liquity antransaction costs are unfavorable for investment of a size meaningful for investor, asset class mnot a suitable investment for thinvestor.B is correct. Although Trainor is correthasset classes shoulversifying, low pairwise correlations with other asset classes is not sufficient. asset class mhighly correlatewith some linecombination of the other asset classes even when pairwise correlations are not high. Both of Kelly’s comments are correct: Asset classes shoulhave high within-group correlations but low correlations with other classes. If liquity antransaction costs are unfavorable for investment of a size meaningful for investor, asset class mnot a suitable investment for thinvestor.A is incorrect. Kelly’s first comment is correabout both the within-group anbetween class correlations.C is incorrect. Kelly’s seconcomment is correct. The criteria thhe is referring to is thasset classes shoulhave the capacity to absorb a meaningful proportion of investor’s portfolio. He is correin saying thif liquity antransaction costs are unfavorable for investment of a size meaningful for investor, asset class mnot a suitable investment for the investor. Kelly: I like to stress to clients thasset classes shoulhave high within-group correlations but low correlations with other classes. In aition, because investors neeto rebalanto a strategic asset allocation, asset classes neeto have both sufficient liquity anlow transaction costs.Trainor: It is important thasset classes shoulversifying. I always look for low pairwise correlations with other asset classes.老师，题目中问的是least 准确性，也就找谁说的不对。kelly说“asset classes neeto have both sufficient liquity anlow transaction costs.”但是如果投资 reestate 这类资产的话，不可能要求高流动性和低成本啊，他的说法为什么是对的？Trainor说“low pairwise correlations with other asset classes.”我看其他解答里，pairwise correlations是两两的相关性，也就是A与B、C要相关性低，且A与BC组合的相关性也要低，那他说的是low pairwise correlations，相关性低，这个说法为什么不对啊？

NO.PZ202206210100000504 问题如下 In the cantes’ responses to Fox regarng the relevant characteristiof asset classes, the statement this least accurate is: A.Kelly’s regarng correlations. B.Trainor’s. C.Kelly’s regarng rebalancing. SolutioB is correct. Although Trainor is correthasset classes shoulversifying, low pairwise correlations with other asset classes is not sufficient. asset class mhighly correlatewith some linecombination of the other asset classes even when pairwise correlations are not high. Both of Kelly’s comments are correct: Asset classes shoulhave high within-group correlations but low correlations with other classes. If liquity antransaction costs are unfavorable for investment of a size meaningful for investor, asset class mnot a suitable investment for thinvestor.B is correct. Although Trainor is correthasset classes shoulversifying, low pairwise correlations with other asset classes is not sufficient. asset class mhighly correlatewith some linecombination of the other asset classes even when pairwise correlations are not high. Both of Kelly’s comments are correct: Asset classes shoulhave high within-group correlations but low correlations with other classes. If liquity antransaction costs are unfavorable for investment of a size meaningful for investor, asset class mnot a suitable investment for thinvestor.A is incorrect. Kelly’s first comment is correabout both the within-group anbetween class correlations.C is incorrect. Kelly’s seconcomment is correct. The criteria thhe is referring to is thasset classes shoulhave the capacity to absorb a meaningful proportion of investor’s portfolio. He is correin saying thif liquity antransaction costs are unfavorable for investment of a size meaningful for investor, asset class mnot a suitable investment for the investor. 老师请问，这句话应该修改成什么呢？I always look for low pairwise correlations with other asset classes.

NO.PZ202206210100000504问题如下 In the cantes’ responses to Fox regarng the relevant characteristiof asset classes, the statement this least accurate is: A.Kelly’s regarng correlations.B.Trainor’s.C.Kelly’s regarng rebalancing. SolutioB is correct. Although Trainor is correthasset classes shoulversifying, low pairwise correlations with other asset classes is not sufficient. asset class mhighly correlatewith some linecombination of the other asset classes even when pairwise correlations are not high. Both of Kelly’s comments are correct: Asset classes shoulhave high within-group correlations but low correlations with other classes. If liquity antransaction costs are unfavorable for investment of a size meaningful for investor, asset class mnot a suitable investment for thinvestor.B is correct. Although Trainor is correthasset classes shoulversifying, low pairwise correlations with other asset classes is not sufficient. asset class mhighly correlatewith some linecombination of the other asset classes even when pairwise correlations are not high. Both of Kelly’s comments are correct: Asset classes shoulhave high within-group correlations but low correlations with other classes. If liquity antransaction costs are unfavorable for investment of a size meaningful for investor, asset class mnot a suitable investment for thinvestor.A is incorrect. Kelly’s first comment is correabout both the within-group anbetween class correlations.C is incorrect. Kelly’s seconcomment is correct. The criteria thhe is referring to is thasset classes shoulhave the capacity to absorb a meaningful proportion of investor’s portfolio. He is correin saying thif liquity antransaction costs are unfavorable for investment of a size meaningful for investor, asset class mnot a suitable investment for the investor. 感觉这也很像阅读理解题。 k的回答中，关于由于要rebalance，所以asset class 要有流动性，要low transaction cost。课件中Asset class 的基本特征中，并不包括这条吧？