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Unformatted text preview: i) Variable asset class proportions ii) Active security selection within each asset class (1) Examples (a) Financial industry - Short Term Changes; (b) Warren Buffet Long term changes c) B Passive/ Active i) Fixed asset class proportions ii) Active security selection with each asset class (1) Examples (a) Institutional Investors Pension funds, insurance Companies, Endowments (b) FJJ Frank himself did this Id love to be warren buffet, but Id also love to do a 360 slam dunk d) C Passive/ Passive i) Fixed asset class proportions ii) Index Portfolios within each asset calss e) D Active/ Passive i) Variable asset calss proportions ii) Index portfolios within each asset class 3) Passive a) Beta = 1 b) R^2 = 100 c) = 0 d) N = same as index e) Turnover = low f) Expense = low...
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