L3 Book 6 market- adjusted implementation shortfall especially, always, adjusted, positive

wishmeluck

Book 6中提到

 

“shortfall was positive, but this will not always be the case, especially if the effect of the return on the market is removed.”我的问题是为什么要把Market return给romove掉呢，它对cost有什么作用吗？

 

谢谢大家啦！

wishmeluck

顶一下~