NO.PZ202407070100000102
问题如下：
To satisfy Winthrop’s benchmark and security selection specifcations, the equity index benchmark Tong selects should be:
选项：
A.small capitalization with a core tilt
large capitalization with a value tilt
mid-capitalization with a growth tilt
解释：
To address Winthrop’s concerns (sector diversifcation, liquidity, risk,dividend yield, P/E, and P/B), the benchmark should consist of large-capitalization stocks with a value tilt. A large-capitalization index contains the largest-cap stocks, which tend to have the highest liquidity. Value stocks tend to exhibit high dividend yields and low P/E and P/B ratios.
A is incorrect because small-capitalization stocks tend to be riskier than large-capitalization stocks. Winthrop has a preference for low-beta (low-risk) stocks.
C is incorrect because a growth index will not address Winthrop’s preference for a low P/E. Growth stocks exhibit such characteristics as high price momentum, high P/Es, and high EPS growth
Beta 形容的不是个股与市场之间的sensitivity吗， 大盘股在市场中的占比较大， 他们的beta不应该接近于市场的beta吗