139****98112022-05-12 17:18:50
C is incorrect because derivatives are not needed to copy strategies that can be implemented with the underlying on a standalone basis. Rather, derivatives can be used to create strategies that cannot be implemented with the underlying alone. Simultaneously taking long positions in multiple highly liquid fixed-income securities is a strategy that can be implemented with the underlying securities on a standalone basis.这个解释没看懂,尤其是 on a standalone basis.是啥意思呢
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Evian, CFA2022-05-13 01:47:44
ヾ(◍°∇°◍)ノ゙你好同学,
C是不正确的
因为衍生不需要复制这种策略(可以标的资产自己可以达成的策略)。【例如,在股票市场可以直接买股票,那么用衍生品的期货合约来投资股票就不算是衍生品的优势】
相反,衍生工具可以用来创造标的资产自己不可以达成的策略。【例如,用期权合约规避风险,这个效果仅仅买股票是不可以达到的】
同时买入多个债券,他们是高流动性的固定收益债券,标的资产自己可以达成的策略。
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on a standalone basis那这句话意思是独自的意思吗
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嗯嗯,可以这么理解
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