1.题干“Exhibit 1 provides the results of a mean-variance optimization based on annual inflation of 1.5% and a risk-free rate of 0.5%.”中inflation 1.5%不用考虑加到risk-free rate中吗？
2.问题4-C
Determine whether the unleveraged or leveraged strategic asset allocation offers lowerexpected volatility to achieve the endowment’s return objective. Justify your response.
可以用画efficient frontier来解答吗？另外，可否通过“leveraged portfolio Sharpe ratio 最大且在tong同等return水平下风险是最小的”来解释呢？
