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506623496 · 2023年08月04日

Altitude只说了预测的earnings,没有说增长率,也理解为growth吗

NO.PZ2023010903000037

问题如下:

Leeter then uses a firm- generated brochure (Exhibit 1) to inform Clickman about some other potential funds that may interest him.

Leeter states that although Altitude Funds and Pioneer Funds both use P/Es in their strategies, both funds incorporate a growth strategy.

Using Exhibit 1, Leeter’s statement about Altitude Funds and Pioneer Funds is most likely:

选项:

A.

correct

B.

incorrect in regard to Altitude Funds

C.

incorrect in regard to Pioneer Funds

解释:

The statement is incorrect in regard to Pioneer Funds but is correct in regard to Altitude Funds. Pioneer Funds uses a relative value strategy (i.e., seeks under-priced securities relative to an industry value benchmark) that has no aspects of a growth strategy.

Altitude Funds uses a hybrid of value strategies (use of P/E) and growth strategies (use of forward EPS) known as GARP (growth at a reasonable price).

A is incorrect. The statement is incorrect in regard to Pioneer Funds but is correct in regard to Altitude Funds. Pioneer Funds uses a relative value strategy (i.e., seeks under-priced securities relative to an industry value benchmark) that has no aspects of a growth strategy.

B is incorrect. The statement is incorrect in regard to Pioneer Funds but is correct in regard to Altitude Funds. Altitude Funds uses a hybrid of value strategies (use of P/E) and growth strategies (use of forward EPS) known as GARP (growth at a reasonable price).

Altitude只说了预测的earnings,没有说增长率,也理解为growth吗

1 个答案
已采纳答案

笛子_品职助教 · 2023年08月07日

嗨,爱思考的PZer你好:


Altitude只说了预测的earnings,没有说增长率,也理解为growth吗

Hello,亲爱的同学~

同学理解正确。有预测的earning,就隐含了增长率。

比如目前已知财报公布的EPS是1元。预测第二年的EPS是1.5元。因此这里就隐含了,预期增长率 = 1.5/1-1=50%。

Altitude有预测EPS,预测P/E,意味着,既考虑P/E,又考虑增长率,是GARP。

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虽然现在很辛苦,但努力过的感觉真的很好,加油!