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五月Lyon要过三级 · 2021年04月07日

我看题目解析中说不是给收益设定底线

NO.PZ2019012201000039

问题如下:

Matt makes the following statements about investing with long-only managers:

Statement 1 A long-only portfolio puts a firm floor on how much an investor can win.

Statement 2 A long-only portfolio generally allows for greater investment capacity than other approaches, particularly when using strategies that focus on large-cap stocks.

Which of Matt’s statements regarding investing with long-only managers is correct?

选项:

A.

Only Statement 1

B.

Only Statement 2

C.

Both Statement 1 and Statement 2

解释:

B is correct.

考点:Long/Short, Long Extension, And Market-neutral

解析:表述1错在投资者不是为收益设定底线,而是为损失设定了底线。因为股票价格可以跌到的最低水平为零,而上涨空间是无限的,因此,只做多的投资者最大可能损失的金额就等于股票的初始投资。

那具体收益怎么个设定底线法呢

3 个答案
已采纳答案

maggie_品职助教 · 2021年04月08日

嗨,努力学习的PZer你好:


Statement 1就是错在说能给收益设定底线,因为我们买一只股票,它的上涨空间是无限大的,所以这道题选B,只有Statement 2是正确的。


Statement 1正确的说法应该是A long-only portfolio puts a firm floor on how much an investor can lose. 我们买一只股票最大的亏损就是这只股票的价值即它跌到零,也就是我们为损失设定了底线。

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就算太阳没有迎着我们而来,我们正在朝着它而去,加油!

maggie_品职助教 · 2021年11月08日

嗨,努力学习的PZer你好:


long only的组合说明投资收益可以无限,但损失是有限的,因此是 puts a firm floor on how much an investor can lose,这个是原版书的原话。


对于赚钱的时候我们是不会为收益设定floor的,即最大的收益是无限的,而最大的亏损是有限的,因此有个floor。建议按原版书的内容记忆就好,加油~

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虽然现在很辛苦,但努力过的感觉真的很好,加油!

Louis · 2021年11月07日

这题是原版书还是品职自己出的呀,表述挺不严谨的,都说了floor了,那win 和 loss的 floor不都是归零么,like negative win不行吗,感觉是文字游戏

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