Cmoreover的用法hapter 12
1. Conventional theories presume that investors ____________ and behavioral finance presumes that they ____________.
B. are rational; may not be rational
2. The premi of behavioral finance is that
A. conventional financial theory ignores how real people make decisions and that people make a difference.
3. Some economists believe that the anomalies literature is consistent with investors ____________ and ____________.
D. inability to always process information correctly and therefore they infer incorrect probability distributions about future rates of return; given a probability distribution of returns, they often make inconsistent or suboptimal decisions
4. Information processing errors consist of
I) forecasting errors
II) overconfidence
III) conrvatism
IV) framing
E. I, II and III
5. Forecasting errors are potentially important becau
B. rearch suggests that people overweight recent information.
Forecasting errors are potentially important becau rearch suggests that people overweight recent information.
6. DeBondt and Thaler believe that high P/E result from investors
A. earnings expectations that are too extreme.
DeBondt and Thaler believe that high P/E result from investors earnings expectations that are too extreme.
7. If a person gives too much weight to recent information compared to prior beliefs, they would make ________ errors.
E. forecasting
8. Single men trade far more often than women. This is due to greater ________ among men.
C. overconfidence
9. ____________ may be responsible for the prevalence of active versus passive investments management.
B. Overconfidence
10. Barber and Odean (2000) ranked portfolios by turnover and report that the difference in return between the highest and lowest turnover portfolios is 7% per year. They attribute this to
A. overconfidence
11. ________ bias means that investors are too slow in updating their beliefs in respon to evidence.
D. conrvatism祛痘食疗法
12. Psychologists have found that people who make decisions that turn out badly blame themlves more when that decision was unconventional. The name for this phenomenon is
A. regret avoidance13. An example of ________ is that a person may reject an investme
nt when it is pod in terms of risk surrounding potential gains but may accept the same investment if it is pod in terms of risk surrounding potential loss.
comment什么意思
A. framing
14. Statman (1977) argues that ________ is consistent with some investors' irrational preference for stocks with high cash dividends and with a tendency to hold losing positions too long.
handles
A. mental accounting
15. An example of ________ is that it is not as painful to have purchad a blue-chip stock that decreas in value, as it is to lo money on an unknown start-up firm.
B. regret avoidance
16. Arbitrageurs may be unable to exploit behavioral bias due to ____________.
I) fundamental risk
the zing
II) implementation costs
III) model risk
IV) conrvatism
V) regret avoidance
B. I, II, and III
17. ____________ are good examples of the limits to arbitrage becau they show that the law of one price is violated.
布基纳法索英文
I) Siame Twin Companies
II) Unit trusts
III) Clod end funds
IV) Open end funds
hilarious
V) Equity carve outs
morethanC. I, III, and V
18. __________ was the grandfather of technical analysis.
C. Charles Dow
strings19. The goal of the Dow theory is to
E. identify long-term trends
20. A long-term movement of prices, lasting from veral months to years is called _________.
B. a primary trend
21. A daily fluctuation of little importance is called ____________.
A. a minor trend
22. Price movements that are caud by short-term deviations of prices from the underlying trend line are called
B. condary trends.
23. The Dow theory posits that the three forces that simultaneously affect stock prices are ____________.
I) primary trend
II) intermediate trend
hometownIII) momentum trend
IV) minor trend
V) contrarian trend
D. I, II, and IV
24. The Elliot Wave Theory ____________.
A. is a recent variation of the Dow Theory
B. suggests that stock prices can be described by a t of wave patterns
C. is similar to the Kondratieff Wave theory
E. A, B, and C
25. A trin ratio of less than 1.0 is considered as a _________.
B. bullish signal
26. On October 29, 1991 there were 1,031 stocks that advanced on the NYSE and 610 that declined. The volume in advancing issues was 112,866,000 and the volume in declining issues was 58,188,000. The trin ratio for that day was ________ and technical analysts were likely to be ________.
