为什么这道题（Q16）不能使用Sharpe ratio的方式来回答？如何理解题目中的from a valuation standpoint，不是指计算哪个industry has the highest risk adjusted return吗？
书后答案：
我的答案：
As the question didn’t specify the price of each industry’s equity, we cannot judge which industry is attractive from a valuation perspective. However, from a risk-adjusted return perspective, we can compare the Sharpe ratio for each industry.
SR_i = 3.46%/12% = 0.2883
SR_ii = 1.98%/6% = 0.3300
SR_iii = 2.47%/7.5% = 0.3293
Since 0.3300 is the largest among the three, the Swiss Watch Industry has the highest risk adjusted return
