国际经贸高级英语19”.pptVIP

Unit NineteenThe Revolution in Composite Assets—Donald L.Luskin TEXT Ⅰ. Introduction There is a subtle but pervasive revolution going on in the theory and practice of investment—a revolution in the most fundamental assumptions with which investors frame their notions of their investment assets. The old regime of security analysis emphasized individual assets, but over the last quarter century it has been gradually replaced by a new regime of portfolio management, with corresponding emphasis on composite assets. The new emphasis on composite assets is as