Joe2023-02-21 14:46:00
Joe老师，百题Ariel原文里这句话为什么错了？不是说毛收益和净收益都扣除了交易费用吗？Ariel calculates both gross-of-fees and net-offees returns after deduction of estimated trading expenses incurred during the period.
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Johnny2023-02-26 22:20:08
Johnny同学你好，这句话是没有问题的，gross of fee和net of fee都是需要扣除trading expense的。原版书原文如下：Gross-of-fees returns are presented before management and custodial fees but after all trading expenses。Gross return扣除了交易费用但是没有扣除管理费和托管费，而net return有扣除托管费
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