NO.PZ2018053101000034
问题如下:
A significant challenge to investing in timber is most likely its:
选项:
A.high correlation with other asset classes. B.dependence on an international competitive context. C.return volatility compounded by financial market exposure.解释:
B is correct. A primary risk of timber is the international competitive landscape. Timber is a globally sold and consumed commodity subject to world trade interruptions. So the international context can be considered one of its major risk factors.
A is incorrect because timberland offers an income stream based on the sale of trees, wood, and other timber products that has not been highly correlated with other asset classes.
C is incorrect because investors are interested in timber because of its global nature (everyone requires shelter), the current income generated from the sale of the crop, inflation protection from holding the land, and its safe haven characteristics (it offers some insulation from financial market volatility).
没太理解题目里解释的原因