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sarahjia · 2020年03月22日

问一道题：NO.PZ2018062002000084

  1. CFA I
  2. Equity

问题如下：

Which of the following is true regarding the performance of passive trading strategies in a semi-strong-form efficient market?

选项：

A.

Passive trading strategies would earn abnormal returns.

B.

Passive trading strategies would outperform active trading strategies.

C.

Passive trading strategies would underperform active trading strategies.

解释：

B is correct.
For a fund that adopts active trading strategies, costs would be hard to recover, so therefore, passive portfolio management should outperform active portfolio management on a consistent after-cost basis.

请问老师为什么是B不是C呢，能都解释一下意思吗，谢谢

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maggie_品职助教 · 2020年03月22日

由于主动投资会产生大量的交易费用，实证研究表明从长期来看它是无法跑赢大盘（被动投资）的。

sarahjia · 2020年03月22日

大盘（被动投资）请问这是啥意思，是意思大盘代表了被动投资吗还是

maggie_品职助教 · 2020年03月23日

被动投资指的是投资者被动的投资大盘指数，这样大盘涨时投资也长，反之亦然。这就是一种最基本的被动投资策略。而主动投资是主动的选择看好的股票进行投资。

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NO.PZ2018062002000084 问题如下 Whiof the following is true regarng the performanof passive trang strategies in a semi-strong-form efficient market? A.Passive trang strategies woulearn abnormreturns. B.Passive trang strategies wouloutperform active trang strategies. C.Passive trang strategies woulunrperform active trang strategies. B is correct.For a funthapts active trang strategies, costs woulharto recover, so therefore, passive portfolio management shouloutperform active portfolio management on a consistent after-cost basis.考点Efficient CapitMarket AnIts Forms在半强有效市场中，active的策略也无法获得超额收益，但它比passive投资策略成本还高。所以passive投资策略会优于active投资策略。 为什么主动投资比被动投资的成本高？

2022-11-24 20:22 1 · 回答

NO.PZ2018062002000084 Passive trang strategies wouloutperform active trang strategies. Passive trang strategies woulunrperform active trang strategies. B is correct. For a funthapts active trang strategies, costs woulharto recover, so therefore, passive portfolio management shouloutperform active portfolio management on a consistent after-cost basis. 考点Efficient CapitMarket AnIts Forms 在半强有效市场中，active的策略也无法获得超额收益，但它比passive投资策略成本还高。所以passive投资策略会优于active投资策略。 老师，不是强有效下被动投资才强于主动投资吗？在半有效小，公开信息完全反映在股价上，但有些可以通过非公开信息获利（虽然方法不可取，但是如果能得到，也是通过非公开募内幕可以套利）。为什么在半强有效下就被动已经强于主动了？

2021-06-04 16:22 1 · 回答

Passive trang strategies wouloutperform active trang strategies. Passive trang strategies woulunrperform active trang strategies. B is correct. For a funthapts active trang strategies, costs woulharto recover, so therefore, passive portfolio management shouloutperform active portfolio management on a consistent after-cost basis. B说的是跑赢大盘吗，BC说的都在被动投资对吗

2020-06-18 21:55 1 · 回答

    感觉A.B都是对的，A哪错了？

2019-07-30 22:32 1 · 回答