anina2022-04-06 10:34:51

R27第31题，Aspen的描述中是不是还有另外一个问题，“We pursue a passive investment strategy, which seeks to identify and exploit structural inefficiencies through identifying mispricings created by loss aversion”这里mispricings created by loss aversion 应该是behavioral inefficiencies 吧？书上说：“Behavioral inefficiencies are perceived mispricings created by the actions of other market participants, usually associated with biases, such as trend following or loss aversion. These inefficiencies are temporary, lasting long enough for the manager to identify and exploit them before the market price and perceived intrinsic value converge. Structural inefficiencies are perceived mispricings created by external or internal rules and regulations. These inefficiencies can be long lived and assume a continuation of the rules and regulations rather than a convergence.”