虽然平滑,但它存在着一个特点,就是圆弧和直线相接的地方会有一个曲率变化上的断裂。
Now, he's using a much longer sample than I did, so he's not going to get this tangency portfolio that I did.他的样本跨度比我的要大多了,所以他得出的切线资产组合会和我的不同。
The asset pricing model 'u2014 and this is critical 'u2014 assumes everyone is rational and holds the tangency portfolio.资本资产定价模型是非常重要的模型-,假设每人是理性的,并持有切线资产组合。