Cushoion for Buy and Hold, CPPI, and CM

CFA Level III
#1

Cushion = Investment in stocks / M

Is above true fro all three rebalancing strategies?

#2

i dnt think there is a cushion in CM, the floor is nil.

#3

Cushoin = portoflio value - floor value.

CM, M<1, still Cushion = Investment in stocks / M

#4

CM the floor = 0

CPPI the floor is cash value

B&H the floor is cash value.