Phân tích tư tưởng của nhân dân qua đoạn thơ: Những người vợ nhớ chồng… Những cuộc đời đã hóa sông núi ta trong Đất nước của Nguyễn Khoa Điềm
3372
1
0
9 trang
This section develops an econometric framework that allows an investor to combine in-
formation in the data with prior beliefs about both pricing and skill. Nonbenchmark assets
allow us to distinguish between pricing and skill, and they supply additional information
about funds' expected returns. In addition, nonbenchmark assets help account for common
variation in funds' returns, making the investment problem feasible using a large universe
of funds. The Bayesian econometric framework here is very similar to that in P¶ astor and
Stambaugh (2001), who address performance estimation rather than investment decision
making. Consequently, they specify noninformative prior beliefs about the degree of skill a
fund manager might possess....
Nội dung trích xuất từ tài liệu:
Advance Alliance Investment Funds
