NO.PZ2019012201000060
问题如下：
Dewey asks Sardar to perform a bottom-up style analysis of the Purity Fund based on the aggregation of attributes from individual stocks in the portfolio. Dewey plans to include the results of this style analysis in a profle he is preparing for the fund. The analysis performed by Sardar on the Purity Fund can be best described as being based on:
选项：
A.
a holdings-based approach
B.
manager self-identifcation
C.
a returns-based style analysis
解释：
A is correct. Dewey asks Sardar to perform a bottom-up style analysis of the Purity Fund based on the aggregation of attributes from individual stocks in the portfolio, which describes a holdings-based approach to style analysis. The overall equity investment style is an aggregation of attributes from individual stocks in the portfolio, weighted by their positions.
如标题。holding base是bottom up，那return base能否说是top-down的？翻了一下讲义，好像没有找到这种说法。
