求解释一道题 ethics,答案没看懂 investment, however, achieve, college, current

lykid20112011

Kelly Amadon, CFA, an investment adviser, has two clients: Ryan Randolf, 65 years old, and Keiko
Kitagawa, 45 years old. Both clients earn the same amount in salary. Randolf, however, has a large
amount of assets, whereas Kitagawa has few assets outside her investment portfolio. Randolf is single
and willing to invest a portion of his assets very aggressively; Kitagawa wants to achieve a steady rate
of return with low volatility so she can pay for her child's current college expenses. Amadon
recommends investing 20% of both clients' portfolios in the stock of very low-yielding small-cap
companies. Amadon least likely violated the CFA Institute Standards of Professional Conduct in regard
to his investment recommendations for:

a.only Kitagawa's portfolio.
b.both clients' portfolios.
c.only Randolf's portfolio. 正确答案

In Randolf's case, the investment may be appropriate given this client's financial circumstances and
aggressive investment position. This investment would not be suitable for Kitagawa because of her need
for a steady rate of return and her low-risk profile.
CFA Level I
"Guidance for Standards I–VII," CFA Institute
Standard III(C): Suitability

田田小白

顶一下，我也很纠结这个题目

大混混

回复 3# lykid20112011

首先我也是菜鸟，但是我是这么理解的，希望可以帮到你，very low-yielding small-cap companies就是两点证明，低收益是其一，再就是小型公司本身从  性质上来说就会比同类大公司volatility高，所以就这两点来看，我的理解这个投资就已经很高风险了。

但是对于20%这个投资的量我也不太清楚是不是算多。

lykid20112011

回复 2# 大混混


    我要问不是这个，而是为什么“investing 20% of clients' portfolios in the stock of very low-yielding small-cap companies”被判定为是“aggressive investment and not be suitable for Kitagawa because of her need for a steady rate of return and her low-risk profile”？

大混混

答案的意思是说这个投资规划相对于Randolf的投资意愿和财产状况是比较合适的，但是对于Kitagawa来说稳定低风险的收益。不晓得你是不是想问这个？