Gill responds, “It will be particularly important for the foundation that I look for managers who offer full transparency regarding their holdings and strategies, so the foundation’s investment committee can best understand the risk and return characteristics of the entire portfolio. Also, because the current portfolio is appropriate for an investor who believes financial markets are efficient, it will be important for the investment committee and me to identify markets we believe are not completely efficient and match those views to alternative investment products and strategies that are most likely to benefit from those perceived inefficiencies.”
Is Gill’s response to Chan regarding transparency and market efficiency most likely correct?
- Yes, it is correct.
- No, it is incorrect with regard to transparency.
- No, it is incorrect with regard to market efficiency.
感觉这题比较变扭。 我也知道alternative 一般是low transparency, 但文中说的是，gill想找一些能full transparency的managers，他没有说alternative就是full transparency啊。从他的字面表述来看，没问题呀。
