试题与答案

At a recent seminar on Capital Market Effi

题型:单项选择题

题目:

At a recent seminar on Capital Market Efficiency, David Thorngate, a seasoned arbitrageur wanted to dispel the notion that all arbitrage trades are successful. During his speech, he made the following statements regarding arbitrage and the ability of arbitrageurs to correct market anomalies: Statement 1: There are limits on the ability of arbitrage to bring about efficient prices. Arbitrage is frequently not risk-less. Just because fundamentals indicate that one stock is undervalued or overvalued relative to another does not mean that trading on this information will be profitable. Statement 2: Even in "pairs trading," where an arbitrageur buys the underpriced security and shorts the overpriced security, significant risk from stock-specific factors remains. So, there is no guarantee that even correctly identified relative mispricings of similar stocks will be corrected in the near term. Are Statement 1 and Statement 2 as made by Thorngate correctStatement 1 Statement 2()①A. CorrectCorrect ②B. Incorrect Incorrect ③C. CorrectIncorrect

A. ①

B. ②

C. ③

答案:

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参考答案:B

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