Because usually it doesn't work. And so one of the things that I think is very important is to always begin by testing each unit.
因此我认为非常重要的一件事情,就是开始测试的时候先对,每个独立单元进行测试。
The way you would go about it, if you're a portfolio manager, is you have to come up with estimates of the inputs to these formulas-- that means the expected returns, the standard deviations, and the covariances.
你所要做的,如果你是一个资产经理,你要做的事情就是,对公式里面的一些参数进行估计-,那些参数包括预期收益,标准差,和协方差。
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