粉红豹 · 2019年11月19日
* 问题详情，请 查看题干
问题如下：
Which of Tang’s observations is least likely to be the consequence of Jordan demonstrating loss-aversion bias?
选项：
A.Observation 1.
B.Observation 2.
C.Observation 3.
解释：
C is correct.
Loss aversion by itself may cause a sector concentration; however, a market neutral strategy tends to focus on individual stocks without regard to the sector. The sector exposure would be mitigated with the balancing of the individual long and short positions.
老师好，这道题目对于第三个论述，以及答案中对这个论述的地方，不理解，感觉不对应。求解释。
企鹅_品职助教 · 2019年11月20日
Observation 3说portfolio更集中，这是overconfidence的表现. overconfidence和concentrated portfolio之间的关系：因为过度自信，所以低估了risk, 尤其是downside risk, 导致portfolio分散化不够。原版书截图放在最下面了，看标黄部分。 C和loss aversion没什么关系，题目问的是least likely, 所以选C。
粉红豹 · 2019年11月20日
老师，没有截图，只有个蓝色的bar，能不能再发一次
企鹅_品职助教 · 2019年11月20日
同学现在能看到吗？要是还看不到，晚上我再换台设备发
粉红豹 · 2019年11月20日
这次是个白色的长条了
NO.PZ201511190100000302问题如下 Whiof Tang’s observations is least likely to the consequenof Jorn monstrating loss-aversion bias?A.Observation 1.B.Observation 2.C.Observation 3.C is correct.Loss aversion itself mcause a sector concentration; however, a market neutrstrategy ten to focus on invistocks without regarto the sector. The sector exposure woulmitigatewith the balancing of the invilong anshort positions.高风险，持有时间很长，unrwater不都是loss aversion的表现吗？
NO.PZ201511190100000302 问题如下 Whiof Tang’s observations is least likely to the consequenof Jorn monstrating loss-aversion bias? A.Observation 1. B.Observation 2. C.Observation 3. C is correct.Loss aversion itself mcause a sector concentration; however, a market neutrstrategy ten to focus on invistocks without regarto the sector. The sector exposure woulmitigatewith the balancing of the invilong anshort positions. Observation 2: The trang volume of the funhcreasemore th40 percent ring the past year.Observation 3: The portfolio is more concentratein a few sectors thin the past.他loss aversion 就将亏损的股票全部持有，好的股票都卖了，trang volume为什么会下降啊？不是应该不变或者上升吗？C亏的都留着在，那就是可能集中在某些行业，因为行业风险的原因一亏都亏，所以更集中C应该是对的的呀 B是错的呀，求解
NO.PZ201511190100000302 问题如下 Whiof Tang’s observations is least likely to the consequenof Jorn monstrating loss-aversion bias? A.Observation 1. B.Observation 2. C.Observation 3. C is correct.Loss aversion itself mcause a sector concentration; however, a market neutrstrategy ten to focus on invistocks without regarto the sector. The sector exposure woulmitigatewith the balancing of the invilong anshort positions. loss-aversion会增加交易量，说交易量会下降，所以不对啊。为什么答案关注点在于long/short策略
NO.PZ201511190100000302 Observation 2. Observation 3. C is correct. Loss aversion itself mcause a sector concentration; however, a market neutrstrategy ten to focus on invistocks without regarto the sector. The sector exposure woulmitigatewith the balancing of the invilong anshort positions. 如果一直存有亏损的头寸也会导致头寸集中吧
NO.PZ201511190100000302 Observation 2. Observation 3. C is correct. Loss aversion itself mcause a sector concentration; however, a market neutrstrategy ten to focus on invistocks without regarto the sector. The sector exposure woulmitigatewith the balancing of the invilong anshort positions. position unr water 是指现在的持仓太少了么
我代发一下哈
