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CFA问答
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原版书第513页例题10,solution1的第二段,说the more balanced distriution of risk can be expected to REDUCE the tracking error of the strategy. 但是在第512页例题9,solution1的最后一段关于tracking error,说sector deviations have a greater bearing on active risk than do security-level differences. 我理解这两个例题都是在说long+short的active risk 也就是tracking error比long only大还是小。为什么两个题有不同答案呢?在第511页的小表,关于long+short的benefits & costs里,也有陈述:shorting may amplify the active risk。看起来与例题9的答案一致。请老师答疑,为什么三个地方,对long+short 的active risk (tracking error)的表述不一样呢?谢谢
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