Lucky_品职助教 · 2024年11月04日
嗨，从没放弃的小努力你好：
同学你好：
60/40 的股债组合（60% 股票和 40% 债券）是一种经典的投资策略。股票部分（60%）通常是为了获取资产的增值，而债券部分（40%）起到稳定投资组合、降低风险的作用。
但是 60/40 stock/bond 并不是最优化的。从严格的优化模型定义来看，真正的优化模型需要有明确的目标函数和约束条件，并且通过数学方法来找到最优解。例如，在马科维茨的现代投资组合理论中，投资者的目标是在给定风险水平下最大化预期回报，或者在给定预期回报水平下最小化风险。这涉及到复杂的数学计算，包括计算资产的预期收益率、方差、协方差等，然后通过求解有效前沿（efficient frontier）来确定最优的资产组合。
而 60/40 股债组合只是一种简单的启发式（heuristic）策略，它没有经过这样严格的优化过程。它只是一种经验性的、相对固定比例的分配方式，不是通过求解最优资产配置权重的模型来确定的。
优化模型会根据市场条件、投资者的风险偏好变化等因素动态调整资产配置。比如，如果投资者的风险承受能力下降，或者市场预期发生变化，优化模型会重新计算并调整股票和债券的配置比例，以达到新的最优状态。然而，60/40 股债组合相对比较固定，它不会自动根据这些因素进行动态优化。
----------------------------------------------努力的时光都是限量版，加油！
NO.PZ2022122801000049 问题如下 Montgomery inquires whetherasset allocation mols baseon heuristior other techniques might ofinterest to Winfelanmakes the following comments:1. The 60/40 stock/bonheuristic optimizes thegrowth benefits of equity anthe risk rection benefits of bon.2. The Norwmol is a variation of the enwment mol thatactively invests in publicly trasecurities while giving consiration toenvironmental, social, angovernanissues.3. The 1/N heuristic allocates assets equally across asset classeswith regulrebalancing without regarto return, volatility, or correlation.In scribingheuristianother moling techniques, Montgomery is most accurate withrespeto: A.Comment 1. B.Comment 2. C.Comment 3. C is correct. The 1/N rule asset allocation heuristic involves equally weighting allocations to assets; 1/N of wealth is allocateto eaof N assets available for investment earebalancing te. All assets are treateinstinguishable in terms of mereturns, volatility, ancorrelations.A is incorrect. It is not optimization mol. The 60/40 stock/bonheuristic allocates 60% of assets to equities, supplying a long-term growth fountion, an40% to fixeincome, supplying risk rection benefits.B is incorrect. The Norwmol passively invests in publicly trasecurities subjeto environmental, social, angovernanconcerns. In comparison, the enwment mol asset allocation emphasizes active management of large allocations to non-trationinvestments, seeking to earn illiquity premiums. 1/n投资还要rebalance吗？不是已经平分了吗？是说在rebalante的时候可能还会有其他的available assets，所以n会 变动，所以还是需要rebalance的意思吗？
NO.PZ2022122801000049 问题如下 Montgomery inquires whetherasset allocation mols baseon heuristior other techniques might ofinterest to Winfelanmakes the following comments:1. The 60/40 stock/bonheuristic optimizes thegrowth benefits of equity anthe risk rection benefits of bon.2. The Norwmol is a variation of the enwment mol thatactively invests in publicly trasecurities while giving consiration toenvironmental, social, angovernanissues.3. The 1/N heuristic allocates assets equally across asset classeswith regulrebalancing without regarto return, volatility, or correlation.In scribingheuristianother moling techniques, Montgomery is most accurate withrespeto: A.Comment 1. B.Comment 2. C.Comment 3. C is correct. The 1/N rule asset allocation heuristic involves equally weighting allocations to assets; 1/N of wealth is allocateto eaof N assets available for investment earebalancing te. All assets are treateinstinguishable in terms of mereturns, volatility, ancorrelations.A is incorrect. It is not optimization mol. The 60/40 stock/bonheuristic allocates 60% of assets to equities, supplying a long-term growth fountion, an40% to fixeincome, supplying risk rection benefits.B is incorrect. The Norwmol passively invests in publicly trasecurities subjeto environmental, social, angovernanconcerns. In comparison, the enwment mol asset allocation emphasizes active management of large allocations to non-trationinvestments, seeking to earn illiquity premiums. 2错在哪？
NO.PZ2022122801000049 问题如下 Montgomery inquires whetherasset allocation mols baseon heuristior other techniques might ofinterest to Winfelanmakes the following comments:1. The 60/40 stock/bonheuristic optimizes thegrowth benefits of equity anthe risk rection benefits of bon.2. The Norwmol is a variation of the enwment mol thatactively invests in publicly trasecurities while giving consiration toenvironmental, social, angovernanissues.3. The 1/N heuristic allocates assets equally across asset classeswith regulrebalancing without regarto return, volatility, or correlation.In scribingheuristianother moling techniques, Montgomery is most accurate withrespeto: A.Comment 1. B.Comment 2. C.Comment 3. C is correct. The 1/N rule asset allocation heuristic involves equally weighting allocations to assets; 1/N of wealth is allocateto eaof N assets available for investment earebalancing te. All assets are treateinstinguishable in terms of mereturns, volatility, ancorrelations.A is incorrect. It is not optimization mol. The 60/40 stock/bonheuristic allocates 60% of assets to equities, supplying a long-term growth fountion, an40% to fixeincome, supplying risk rection benefits.B is incorrect. The Norwmol passively invests in publicly trasecurities subjeto environmental, social, angovernanconcerns. In comparison, the enwment mol asset allocation emphasizes active management of large allocations to non-trationinvestments, seeking to earn illiquity premiums. The Norwmol passively invests in publicly trasecurities subjeto environmental, social, angovernanconcerns.这句题中的如何理解？
