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Suechen · 2020年06月18日

问一道题:NO.PZ2018062002000084 [ CFA I ]

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.

B说的是跑赢大盘吗,BC说的都在被动投资对吗

1 个答案

Debrah_品职答疑助手 · 2020年06月20日

同学你好,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。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。

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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

请问老师为什么是B不是C呢,能都一下意思吗,谢谢

2020-03-22 01:08 1 · 回答

    感觉A.B都是对的,A哪错了?

2019-07-30 22:32 1 · 回答