Asset Allocation_Portfolio 2 or 3

Isnt that the higher portion of fixed income in port 3 offering higher prob of achieving the goal. This is more important than diversifying. This is point mentioned in the video as well

I believe that there are many prospects for this controversial topic , however, the goal of funding the alma mater foundation has a high probability of success, unlike the goal of meeting tuition expenses(for question(1)), which is a very strong desire.

The urgency to achieve this goal is slightly lower, allowing for some risk-taking.

Additionally, the amount involved is significant, requiring the portfolio to have a certain level of profitability and growth potential.

As a result, when you mention the higher portion of fixed income in port 3 offering higher prob of achieving the goal ,only part of which is right.

Fixed income means stable but low returns.The risk tolerance of the alma mater foundation is higher than education's.Although the diversifying strategy of portfolio 2 is slightly lower than portfolio 3, portfolio 2 has more room to grow overall due to the large number of equity invested.

Isnt that the higher portion of fixed income in port 3 offering higher prob of achieving the goal. This is more important than diversifying.  This is point mentioned in the video as well

嗨，努力学习的PZer你好：

About this question, the reason for picking portfolio 2 instead of 3, because of Fixed Income portion?

Port 3 seems more convervation with higher fixed income portion

是下面两点原因

我们来看2和3的区别，第一点题目中“Raya concludes that a portfolio of 75% global equities and 25% bonds”，给出了一个75/25的参考。

其次这里的Hedge funds虽然一般意义上是高收益，但是分类写的是diversifying strategies，说明是更偏向于分散化风险，上面两点都能解释，GE更高的2明显更适合成立母校基金会的目标。

关于第二点，我知道有的时候我们会将HF和权益放在一起当作高收益的投资类别，但是我们做题还是要根据这道题给出的信息做判断，CFA确实很纠结，有一部分背景知识默认你要知道，有一部分“常识”你又不能想当然地用，我建议还是要回归题目。三级考察知识点更深入更灵活，它的“套路”不是固定的判断方式，而是一些比较特殊的表述，因此我们一定要从题目中找信息点。

There are two reasons for this

Let's look at the difference between 2 and 3, and the first point, "Raya concludes that a portfolio of 75% global equities and 25% bonds", gives a reference of 75/25.

Secondly, although the Hedge funds here are generally high returns, the classification is diversifying strategies, indicating that it is more inclined to diversify risks, the above two points can be explained, GE's higher 2 is obviously more suitable for the goal of establishing an alma mater foundation.

Regarding the second point, I know that sometimes we put HF and equity together as a high-yield investment category, but we still have to judge according to the information given by this question, CFA is really very entangled, there is a part of the background knowledge by default you need to know, there is a part of "common sense" you can't take for granted, I suggest returning to the topic. The three-level investigation of knowledge points is deeper and more flexible, and its "routine" is not a fixed way of judgment, but some more special expressions, so we must find information points from the topic.

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虽然现在很辛苦，但努力过的感觉真的很好，加油！