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it is closer to efficient frontier in terms of risk / return characteristics…
even without considering the correlations.
Efficient frontier is just a plot of return vs. risk, isn’t it?
it could have been more efficient in terms of considering the correlations, (become more efficient in that sense) - but that would have thrown the asset class weights out of whack - and the client would not then appreciate what is being done.
So essentially a tradeoff. |
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发表于 2013-4-23 09:10
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