WallE_品职答疑助手 · 2020年12月04日
同学您好，
您可以参考基础班讲义上的这段话，P175页
Advantages of the laddered portfolio
• Protection from shifts and twists—the cash flows are essentially “diversified” across the time spectrum.
• This “diversification” over time provides the investor a balanced position between the two sources of interest rate risk—cash flow reinvestment and market price volatility. Bonds mature each year and are reinvested at the longer-term end of the ladder, typically at higher rates.
