Somebody else might say, well I want to just hold this point, I want to hold the tangency portfolio.
而另外的某些人可能会说,我就想按这个点的比例来持有投资,我想持有切线投资组合。
I'm going to start this lecture with a discussion of how one constructs a portfolio and what are the mathematics of it.
首先我想讲讲,怎样建立一个投资组合,以及与其有关的数学问题。
That is, if I want to combine two things together in a particular way, I need to make sure that I give it the kind of operand it expects.
也就是,如果我想以一种特定的方式,把两个东西组合到一块,我需要确定,给了运算符它想要的输入。
You've got to show not only have you understood the ideas that have been put forward in the readings and in the lectures and so forth, but you see how to sort of put them together in the paper in a way that shows you've got some aptitude here.
不只是表现出你们理解了那些概念,那些阅读中的课堂上的及其他的内容,你们还得想办法在论文中把他们组合起来,要显得有点天分。
In fact, I have it--suppose we have three assets and we want to compute the efficient portfolio frontier, the mean and variance of the portfolio.
事实上,假如我们拥有三种资产,我们想计算有效边界,及投资组合的均值和方差。
If I'm going to be active in terms of managing my portfolio, should I spend my time and energy trying to beat the bond market?
如果我想主动地管理我的投资组合,是否应投入时间和精力,专注于战胜债券市场呢
Again, I'm not going to spend much time on this, of the ith asset is the regression coefficient when you regress the return on the ith asset on the return of the market portfolio.
再强调一次,我不打算花太多时间在这个等式上面,但要注意的是当你想将市场组合收益,but,the,β,回归到第i资产收益中去,第i资产β系数是线性回归方程的,回归系数。
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