「The market portfolio is efficient if and only if all investors hold mean-variance efficient portfolios.」- 威廉·夏普经典语录

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The market portfolio is efficient if and only if all investors hold mean-variance efficient portfolios.

威廉·夏普 威廉·夏普
💡 解读： 当且仅当所有投资者都持有均值-方差有效的投资组合时，市场组合才是有效的。
👤 更多 威廉·夏普 经典语录 10句
The market portfolio is the only risky portfolio that all investors should hold.
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The market portfolio is the only portfolio that all investors should hold.
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Diversification is the only free lunch in finance.
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In the long run, risk and return are related. But in the short run, the relationship is often perverse.
威廉·夏普 威廉·夏普
In the long run, risk and return are related, but in the short run, they may not be.
威廉·夏普 威廉·夏普
The capital asset pricing model was not intended to be a positive theory of equilibrium in capital markets, but rather a normative theory of how prices should behave if investors acted in a certain way.
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The essence of investment management is the management of risks, not the management of returns.
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Diversification is both observed and sensible; a rule of behavior which does not imply the superiority of diversification must be rejected both as a hypothesis and as a maxim.
威廉·夏普 威廉·夏普
The capital asset pricing model is a simple, yet powerful, tool for understanding the relationship between risk and return.
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In the long run, the risk of not taking risks may be the greatest risk of all.
威廉·夏普 威廉·夏普
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