为什么这题解析写了一句as a result ,the optimal investor maximizes....他配了无风险资产和投机产品。
为啥还是optimal啊
王琛_品职助教 · 2020年11月29日
- 亲，这是书中的原文哈，BPT 中配什么资产，取决于投资者对不同 layer 的收益和风险的期望
- 请参考原版书 P39 (解析是第三句)
1) "In behavioral portfolio theory, however, investors construct their portfolios in layers and expectations of returns and attitudes toward risk vary between the layers."
2) "the investor maximizes expected wealth on a particular portfolio subject to a safety constraint."
3) "As a result, the optimal portfolio of a BPT investor is a combination of bonds or riskless assets and highly speculative assets."