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Betty · 2024年03月23日

这个是sector rotator？

  1. CFA III
  2. Equity

* 问题详情，请 查看题干

NO.PZ202207040100000503

问题如下：

Which of the analysts’ comments regarding the Lunnar fund’s annual report is the most accurate?

选项：

A.Analyst 1 B.Analyst 2 C.Analyst 3

解释：

Solution

A is correct. The comment made by Analyst 1 is correct regarding style rotation into deep value as motivated by the economic cycle. This is a top-down strategy.

B is incorrect. The comment by Analyst 2 ignores that the use of deep value here is a consequence of style rotation driven by economic analysis, which is top down.

C is incorrect. The comment by Analyst 3 is inaccurate because GARP is a bottom-up strategy.

这个是sector rotator，所以是top down？

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2 个答案

笛子_品职助教 · 2024年03月25日

嗨，努力学习的PZer你好：


我的意思是，这个是因为是sector rotator所以才是top down对吧？不是别的类型的top down？

同学理解正确。

这个是因为是sector rotator所以才是top down。

对的。

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笛子_品职助教 · 2024年03月24日

嗨，爱思考的PZer你好：


这个是sector rotator，所以是top down？

Hello，亲爱的同学~

对风格进行主观选择，主观择时，这是top down，同学理解正确。

因为对风格的择时，涉及到对宏观的分析。

例如，在利率上升的时候，通常拥有稳定现金流的价值股表现较好。

而在利率下降的时候，通常炒远期预期的成长股表现更好。



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NO.PZ202207040100000503 问题如下 Whiof the analysts’ comments regarng the Lunnfuns annureport is the most accurate? A.Analyst 1 B.Analyst 2 C.Analyst 3 SolutionA is correct. The comment ma Analyst 1 is correregarng style rotation into ep value motivatethe economic cycle. This is a top-wn strategy. B is incorrect. The comment Analyst 2 ignores ththe use of ep value here is a consequenof style rotation iven economic analysis, whiis top wn. C is incorrect. The comment Analyst 3 is inaccurate because GARP is a bottom-up strategy. 题目出的感觉很奇怪。。sector并不代表factors吧，讲义里的sector 更多的是行业的意思，这里为什么把 ep in value 看成是一个sector？另外sector aninstry roation 说了bottom up 也可以用为什么答案是 不是 bottom up？

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2024-01-17 22:56 1 · 回答

NO.PZ202207040100000503如果看ep value不應該是bottom up嗎

2023-02-03 12:05 1 · 回答