问题如下：
1 Which of Bragg’s responses regarding effective performance attribution is correct?
选项：
A.Only Response 1
Only Response 2
Both Response 1 and Response 2
解释：
B is correct.
Performance attribution helps explain how performance was achieved; it breaks apart the return or risk into different explanatory components. Effective performance attribution must account for all of the portfolio’s return or risk exposure, reflect the investment decision-making process, quantify the active decisions of the portfolio manager, and provide a complete understanding of the excess return/risk of the portfolio.
请问Response-1为什么不对？
