陈同学2021-08-25 05:06:06

老师， 在前面的问题解答中您提到过Discretionary TAA和.Systematic TAA的区别： 1.Discretionary TAA is predicated on the existence of manager skill in predicting and timing short-term market moves away from the expected outcome for each asset class that is embedded in the SAA policy portfolio 2.Systematic TAA attempts to capture asset class level return anomalies that have been shown to have some predictability and persistence." 我的问题是，教材中提出systematic TAA主要是采取quantitative views, 而discretionary TAA中采取的主要是qualitative views and manager skills, 那为什么基于manager skills and qualitative 的 discretionary TAA就不具备persistence and predictability这两个特点呢？