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Evelyn.Y · 2021年03月07日

请问老师，如果像我下面这么作答的话，是不是等同于没有达到点上？

  1. CFA III
  2. 个人IPS

NO.PZ2018091705000061

问题如下：

Hill refers his friend, Richard Morrison, the former CEO of Masury Bridge and Iron (MBI), to Keller to discuss his wealth goals.

Keller realizes that the Morrisons’ decision making is influenced by psychological considerations and decides to use a goal-based planning approach. Keller constructs the table below to simplify the discussion at their next scheduled meeting.

Table：Morrison Family Wealth Distribution

Describe Keller’s use of goal-based planning to highlight the consequences of the Morrisons’ selecting an asset allocation that is too risky.

选项：

解释：

Goal-based planning allows the adviser to incorporate psychological considerations into the asset allocation and portfolio construction process. This approach highlights the consequences of selecting an asset allocation that is riskier than is appropriate for a particular investor. A goals-based methodology extends the Markowitz framework of diversifying market risk by incorporating several notional "risk buckets." The first bucket is the personal risk bucket, which includes assets such as a personal residence, certificates of deposit, treasury securities, and other safe investments. The goal of this bucket is protection from poverty or a decrease in lifestyle. The second bucket is the market risk bucket, which includes assets such as stocks and bonds. The goal of this bucket is to maintain the current standard of living. The third bucket is the aspirational risk bucket and includes assets such as a privately owned business, commercial and investment real estate, and concentrated stock positions. The goal of this bucket is the opportunity to increase wealth substantially. This type of risk allocation framework would give Keller a basis to sit down with the Morrisons and identify the significant risk they face from their concentrated position and highlight that their allocations to the personal risk and market risk buckets are inadequate.

According to Table: Morrison Family Wealth Distribution, we can figure out that, Morrison’s primary capital=$1666667+$3888889=$5555556(10% of total capital)

surplus capital=$50000000(90% of total capital),

which means Morrison’s Family have concentrated assets, they need to diversified.

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王暄_品职助教 · 2021年03月08日

我觉得还行，你可以再加两句描述，例如分太多给surplus capital了，无法保障基本生活等。

还有一个最重要的就是：This type of risk allocation framework would give Keller a basis to sit down with the Morrisons and identify the significant risk they face from their concentrated position and highlight that their allocations to the personal risk and market risk buckets are inadequate.这句最好加上。

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Hill refers his frien RicharMorrison, the former CEO of Masury Brie anIron (MBI), to Keller to scuss his wealth goals. Keller realizes ththe Morrisons’ cision making is influencepsychologicconsirations ancis to use a goal-baseplanning approach. Keller constructs the table below to simplify the scussion their next schelemeeting. TableMorrison Family Wealth stribution scriKeller’s use of goal-baseplanning to highlight the consequences of the Morrisons’ selecting asset allocation this too risky. Goal-baseplanning allows the aiser to incorporate psychologicconsirations into the asset allocation anportfolio construction process. This approahighlights the consequences of selecting asset allocation this riskier this appropriate for a particulinvestor. A goals-basemethology exten the Markowitz framework of versifying market risk incorporating severnotion\"risk buckets.\" The first bucket is the personrisk bucket, whiinclus assets sua personresince, certificates of posit, treasury securities, another safe investments. The goof this bucket is protection from poverty or a crease in lifestyle. The seconbucket is the market risk bucket, whiinclus assets sustocks anbon. The goof this bucket is to maintain the current stanrof living. The thirbucket is the aspirationrisk bucket aninclus assets sua privately ownebusiness, commercianinvestment reestate, anconcentratestopositions. The goof this bucket is the opportunity to increase wealth substantially. This type of risk allocation framework woulgive Keller a basis to sit wn with the Morrisons anintify the significant risk they fafrom their concentrateposition anhighlight ththeir allocations to the personrisk anmarket risk buckets are inaquate. 这道题考试要写到那种程度？

2020-11-05 08:46 1 · 回答

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Hill refers his frien RicharMorrison, the former CEO of Masury Brie anIron (MBI), to Keller to scuss his wealth goals. Keller realizes ththe Morrisons’ cision making is influencepsychologicconsirations ancis to use a goal-baseplanning approach. Keller constructs the table below to simplify the scussion their next schelemeeting. TableMorrison Family Wealth stribution scriKeller’s use of goal-baseplanning to highlight the consequences of the Morrisons’ selecting asset allocation this too risky. Goal-baseplanning allows the aiser to incorporate psychologicconsirations into the asset allocation anportfolio construction process. This approahighlights the consequences of selecting asset allocation this riskier this appropriate for a particulinvestor. A goals-basemethology exten the Markowitz framework of versifying market risk incorporating severnotion\"risk buckets.\" The first bucket is the personrisk bucket, whiinclus assets sua personresince, certificates of posit, treasury securities, another safe investments. The goof this bucket is protection from poverty or a crease in lifestyle. The seconbucket is the market risk bucket, whiinclus assets sustocks anbon. The goof this bucket is to maintain the current stanrof living. The thirbucket is the aspirationrisk bucket aninclus assets sua privately ownebusiness, commercianinvestment reestate, anconcentratestopositions. The goof this bucket is the opportunity to increase wealth substantially. This type of risk allocation framework woulgive Keller a basis to sit wn with the Morrisons anintify the significant risk they fafrom their concentrateposition anhighlight ththeir allocations to the personrisk anmarket risk buckets are inaquate. 请问，这道题是什么意思，应该如何回答？

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