纠纠_品职答疑助手 · 2020年08月04日
嗨，爱思考的PZer你好：
这句话的考点是discretionary TAA与systematic TAA的对比。有基础班讲义的话看一下244-245页。没有的话我把这两个词的含义贴在下面：
Discretionary TAA is predicated on the existence of manager skill in predicting and timing short-term market moves away from the expected outcome for each asset class that is embedded in the SAA policy portfolio.
Using signals, systematic TAA attempts to capture asset class level return anomalies that have been shown to have some predictability and persistence
所以 statement 2 描述的是 systematic TAA，而不是discretionary TAA
-------------------------------虽然现在很辛苦，但努力过的感觉真的很好，加油！
