英国某学院留学生作业：对投资管理中投资组合的图解

ABF 305 INVESTMNET MANAGEMENT
SURGERY 4 Portfolio
AF305投资管理
调查4 投资组合

Normal Distribution
正态分布
 

Risk aversion
风险规避

• Risk-averse investors are willing to consider only risk-free or speculative prospects with positive risk premium.
风险规避投资者愿意只考虑无风险或投机性的前景与积极的风险溢价。
• Each investor can assign a welfare, or utility, score to competing investment portfolios based on the expected return and risk of those portfolio.
每一个投资者可以分配一个福利或效用,分数竞争的投资组合的预期收益和基于风险的投资组合。

Diversification
多样化

• Diversification is a strategy that you include many securities in your portfolio.
• Diversification will reduce risk, but not eliminate risk.
• The risk that can be eliminated is called unique risk, firm-specific risk, non-systematic risk, or diversifiable risk
• The risk that remains even after extensive diversification is called market risk.
• All securities are affected by the common macroeconomic factors.
 

Portfolios of two risky assets



 
Capital Allocation Line (CAL)
资本配置线

 
Optimal Risky Portfolio

 
Optimal Complete Portfolio