pennyless

mik82 Wrote:
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> Your quote answers your own question. It's a
> distribution with two tails, 2.5% on each tail, so
> 95% confidence interval. This is level 1.

Why it is two-tail?

I think If the client's minimum allowable return falls more than two standard devations below the expected return, it is a violent.

while If the client's minimum allowable return rise more than two standard devations above the expected return, it is ok.

so it is one tail.

please point out my misunderstand, thanx a lot!!!