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发表于 2011-7-13 16:05 | 只看该作者

Quiz Equity

regarding, following, technology, statements, industry

A recession is expected in an economy within the next year. Portfolio Manager A has shifted more of their stocks from the financial industry to the health care industry. Portfolio Manager B has shifted more of their stocks from the technology industry to the utility industry. Which of the following statements is most accurate regarding the performance of each manager?

A) Portfolio Manager A is expected to underperform the broad market while Portfolio Manager B is expected to outperform the broad market.
B) Portfolio Manager A is expected to outperform the broad market and Portfolio Manager B is expected to outperform the broad market.
C) Portfolio Manager A is expected to outperform the broad market while Portfolio Manager B is expected to underperform the broad market.

Chuckrox

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发表于 2011-7-13 16:05 | 只看该作者

C

NO EXCUSES

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Colum

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发表于 2011-7-13 16:05 | 只看该作者

Oh sorry meant C

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Windjammer

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发表于 2011-7-13 16:05 | 只看该作者

F this......i hate these generalities about cycles and earnings sensitivity in growth and value.

I guess we just take it at face value....focus on CFA views on cyclicality.

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ohai

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发表于 2011-7-13 16:05 | 只看该作者

growth stock outperforms in recession because in recession seldom companies get earnings growth , it is in book ... but not reality

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Darien

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发表于 2011-7-13 16:05 | 只看该作者

logic doesnt work here, thats why i posted this... its not about defensive, its about growth vs. value... CFAI says growth outperforms in recession.

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jmh530

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发表于 2011-7-13 16:05 | 只看该作者

It's the stupid texts that say Growth stocks outperform in recession because people are willing to pay more for GARP. I hate the answer but it is in there.

Value moves from making a profit to no longer profitable during recession.

Answer is move to growth if recession coming.

I would move to utilities but that is me.

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mp3bu