原书课后题R14-2

嗨，从没放弃的小努力你好：

statement 2 考察的是Discretionary TAA和Systematic TAA两个名词的对比。这句话描述的不是Discretionary TAA，而是Systematic TAA。

基础班P245页：Using signals, Systematic TAA attempts to capture asset class level return anomalies that have been shown to have some predictability and persistence.（强调信号、市场异常）

而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. （强调基金经理的能力）

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就算太阳没有迎着我们而来，我们正在朝着它而去，加油！