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SUN · 2020年02月09日

问一道题:NO.PZ201809170400000703 第3小题 [ CFA III ]

* 问题详情,请 查看题干

问题如下:

Which characteristic suggested by Knight to describe the quantitative approachto active management is incorrect?

选项:

A.

Characteristic1

B.

Characteristic2

C.

Characteristic3

解释:

C is correct. 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.

这道题解析说 不能预测未来,那岂不是跟第11题矛盾了?

1 个答案
已采纳答案

maggie_品职助教 · 2020年02月11日

你好像没理解这两种方法的本质,不管是哪种分析方法,他们都是用来指导投资的也就是在未来能否获得收益。区别在于 fundamental analysis是根据预测未来数据来估值(咱们二级学的各种估值模型),看是否有投资机会。而量化分析是根据历史数据找规律来看看未来是否有投资机会。请看下面截图红框。

而11题说的回测检验:回测的目的就是看看量化模型预测结果和真实未来的情况是否一致,相关性越高,说明我模型预测的越准啊。


SUN · 2020年02月13日

所以李老师这里讲的问题非常大。他课后题讲的原话是,只有fundmental才是预测未来的,然后我还专门作为一个点记下来了。

maggie_品职助教 · 2020年02月13日

收到,我们做个记录,之后会和授课老师反馈。谢谢你的提醒。

SUN · 2020年02月13日

不不不,应该感谢您。这个问题问您了好几次,现在节省了时间,盘清楚了。谢谢

Feeling · 2022年08月18日

2年了还是没有改,哈哈

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NO.PZ201809170400000703 问题如下 Whicharacteristic suggesteKnight to scrithe quantitative approachto active management is incorrect? A.Characteristi B.Characteristi C.Characteristi C is correct. Quantitative analysis uses a company’s history to arrive investment cisions. The quantitative cision-making process is systematic annon-scretionary (wherethe funmentcision-making process is more scretionary), anthe focus of the quantitative approais on factors across a potentially large group of stocks (wherefunmentstrategies focus on a relatively small group of stocks). In contrast, funmentanalysis (not quantitative analysis) emphasizes forecasting future prospects, inclung the future earnings ancash flows of a company. quantitative approach可以forecast future不是吗?

2024-03-23 09:50 1 · 回答

NO.PZ201809170400000703 问题如下 Whicharacteristic suggesteKnight to scrithe quantitative approachto active management is incorrect? A.Characteristi B.Characteristi C.Characteristi C is correct. Quantitative analysis uses a company’s history to arrive investment cisions. The quantitative cision-making process is systematic annon-scretionary (wherethe funmentcision-making process is more scretionary), anthe focus of the quantitative approais on factors across a potentially large group of stocks (wherefunmentstrategies focus on a relatively small group of stocks). In contrast, funmentanalysis (not quantitative analysis) emphasizes forecasting future prospects, inclung the future earnings ancash flows of a company. 没明白为什么选这个

2023-08-09 00:33 1 · 回答

对于characteristic 2这句话请教下有一个小小疑问,在quantitative metho,不是在sign stage要靠juement吗(下图为出处),那也就是,并不全是non-scretionary,对吗?

2020-08-30 17:01 1 · 回答