yukijiang · 2020年12月17日
问题如下：
Which of the following return calculating methods is best for evaluating the annualized returns of a buy-and-hold strategy of an investor who has made annual deposits to an account for each of the last five years?
选项：
A. Geometric mean return.
B. Arithmetic mean return.
C. Money-weighted return.
解释：
A is correct.
The geometric mean return compounds the returns instead of the amount invested.
看老师的解释是：题目中没有给cf的具体时间和金额，所以twrr比mwrr更合适。同样的，题目也没有给每一个期间的HPR，那么twrr也不应该适用呀？NO.PZ2015121801000038 问题如下 Whiof the following return calculating metho is best for evaluating the annualizereturns of a buy-anholstrategy of investor who hma annuposits to account for eaof the last five years? A.Geometric mereturn. B.Arithmetic mereturn. C.Money-weightereturn. is correct.The geometric mereturn compoun the returns insteof the amount investe 这题看起来是从投资者角度去评估收益的，为什么还用TWRR？作为基金经理角度，是否存在用MWRR更好的情况？看到其他解答里有说，基金经理能控制现金流流入流出的情况用MWRR更好，有更具体一点的例子吗？
NO.PZ2015121801000038 问题如下 Whiof the following return calculating metho is best for evaluating the annualizereturns of a buy-anholstrategy of investor who hma annuposits to account for eaof the last five years? A.Geometric mereturn. B.Arithmetic mereturn. C.Money-weightereturn. is correct.The geometric mereturn compoun the returns insteof the amount investe 这道题目的意思是从投资者角度，衡量投资的年化收益，就是和基金经理无关。那不是应该用MWR？
NO.PZ2015121801000038问题如下Whiof the following return calculating metho is best for evaluating the annualizereturns of a buy-anholstrategy of investor who hma annuposits to account for eaof the last five years?A.Geometric mereturn.B.Arithmetic mereturn.C.Money-weightereturn.is correct.The geometric mereturn compoun the returns insteof the amount investetwr是没年的收益率做几何平均，但除了最后一年能算收益，之前的每一年没法算收益啊，请指教
NO.PZ2015121801000038问题如下Whiof the following return calculating metho is best for evaluating the annualizereturns of a buy-anholstrategy of investor who hma annuposits to account for eaof the last five years?A.Geometric mereturn.B.Arithmetic mereturn.C.Money-weightereturn.is correct.The geometric mereturn compoun the returns insteof the amount investeMWRR就是Geometric me为社么不选C（我觉得MWRR更确切）
NO.PZ2015121801000038 问题如下 Whiof the following return calculating metho is best for evaluating the annualizereturns of a buy-anholstrategy of investor who hma annuposits to account for eaof the last five years? A.Geometric mereturn. B.Arithmetic mereturn. C.Money-weightereturn. is correct.The geometric mereturn compoun the returns insteof the amount investe 是否无论题干怎么描述，永远都是TWRR比MWRR要好？
