The author suggest in his article that______.
A.the "modem portfolio theory" works
B.trading bonds are more profitable than trading stocks in Wall Street
C.we should hold less equities than other assets
D.according to "modern portfolio theory", the longer you hold a stock, the more money you will win from it
According to "modem portfolio theory", we should ______.
A.buy one single kind of stocks
B.buy stocks whose prices fluctuates at the same pace
C.never sell our stocks
D.sell stocks whose prices go relatively too high in our portfolio
评述流动资产选择说的可行性和局限性。(theory of portfolio selection)
CAPM is an equilibrium theory based on the theory of portfolio selection. The following figure depicts the relation between risk and return in equilibrium, where M represents the market portfolio constructed by risky stocks. Denote that the risk-free return is rf and the expected return and risk of M are E(rM) and σM, respectively. Which of the following statements is correct?
A、The portfolio hold by Investor 2 is more efficient than the portfolio hold by Investor 1
B、Both investor 1 and investor 2 would invest the same amount of money into risky stocks
C、Investor 2 puts more money into risky stocks
D、Investor 2 isn’t a risk-seeking investor
According to the optimal portfolio theory, where should portfolios lie?______.
A.Under the efficient frontier
B.Above the efficient frontier
C.On the efficient frontier
D.Anywhere, as long as the portfolio is diversified
Capital asset pricing theory asserts that portfolio returns are best explained by______.
A.economic factors
B.systematic risk
C.specific risk
D.diversification
The most fundamental proposition of modern portfolio theory can be stated as follows:
A.people are all risk averse
B.an asset may be very risky when viewed in isolation, but when combined with other assets the risk of the portfolio may be substantially reduced
C.the returns on securities are interrelated, and therefore a measure of their covariability must be used when combining securities in portfolios
D.none of the above
A、The investors with the same information about the probability distributions for rates of return have the same optimal combination of risky assets
B、The market is efficient
C、The financial intermediary knows comprehensively about preferences of each customer
D、The financial intermediary specializes in combining the risky assets for each customer
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