NO.PZ202212280100002001
问题如下：
In addition to traditional
mean-variance analysis, Beveridge also estimates one other form of portfolio
optimization: the resampled efficient frontier approach. The board of trustees
also asks Beveridge whether an asset/liability management (ALM) approach to
strategic asset allocation would be appropriate. The board notes that the
pension plan has below-average risk tolerance.
i. Identify two advantages of the resampled efficient frontier approach relative to the traditional mean-variance efficient frontier approach.
选项：
解释：
The advantages of the resampled efficient frontier approach relative to the mean-variance efficient frontier approach are:
1. the optimal portfolios resulting from the re-sampling process are more diversified;
2. the optimal portfolio weights from the re-sampled portfolios are more stable through time.
因为本身Optimization的次数增多（有多次估计），EF的估计更加准确和Stable，所以Resampling是否可以Reduce turnover and transaction costs？
