NO.PZ2023010903000047
问题如下：
Aleksy Nowacki is a new portfolio manager at Heydon Investments. Vicky Knight, a junior analyst at Heydon, assists with managing the fund. Nowacki has been hired to start a second fund, the Heydon Quant Fund, which will use quantitative active equity strategies. Nowacki and Knight meet to discuss distinct characteristics of the quantitative approach to active management, and Knight suggests three such characteristics:
Characteristic 1 The focus is on factors across a potentially large group of stocks.
Characteristic 2 The decision-making process is systematic and non-discretionary.
Characteristic 3 The approach places an emphasis on forecasting the future prospects of underlying companies.
Which characteristic suggested by Knight to describe the quantitative approach to active management is incorrect?
选项：
A.Characteristic 1
Characteristic 2
Characteristic 3
解释：
Quantitative analysis uses a company’s history to arrive at investment decisions. The quantitative decision-making process is systematic and non-discretionary (whereas the fundamental decision-making process is more discretionary), and the focus of the quantitative approach is on factors across a potentially large group of stocks (whereas fundamental strategies focus on a relatively small group of stocks). In contrast, fundamental analysis (not quantitative analysis) emphasizes forecasting future prospects, including the future earnings and cash flows of a company.
量化投资属于主动管理的子集，为什么拿子集与母集去对比？
