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terrible worded question from schweser…..however, I see what they are trying to get at…the 10% PM are selected at 12/31/10…..to compare everyone’s performance during 2010….
so thus it is uninvestable…..however, if you know the the securities and weights and blah blah after the PM have been chosen…..then technically I guess it is not unambiguous or reflective of current investment opinions…
don’t worry about it……you know the concept…it is just a dumb schweser question..CFAI wouldn’t test you this way.

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