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- 2011-7-2
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- 2016-8-1
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1) because two portfolios can have different maturity structure (i.e. bullet vs. barbell) and interest rates volatilities are different at different maturity.
2)underperformance is calculated using risk adjusted return. If a portfolio has low beta, and it earns less than FTSE, it is not underperformance. |
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发表于 2011-7-13 16:57
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