- Smoothing rule based on rolling 3 years average
- substyle: contrarian, high yield, consistent growth, earning momentum. (I thought only 3 substyle: Growth, value and market oriented)
- Evaluation of effect of change in discount rate on PBO (I thought this is L2?)
1)In 2)In 3)not sure, don’t suspect anything big on the exam for this. For 2) - growth, value and market-oriented are styles, substyles are what you describe. The first 2 are substyles for value, the latter 2 for growth.
I love Level 3
- leading cylical indicator and limitation of using it to form outlook
- sharpe style weight?