- CFA Exams
- CFA Level I Exam
- Topic 9. Portfolio Management
- Learning Module 44. Economics and Investment Markets
- Subject 5. Equities and the Equity Risk Premium
CFA Practice Question
When assessing investment opportunities in equities, investors should ______.
A. assign higher equity risk premiums to value stocks relative to growth stocks.
B. forecast lower volatility in the growth rate of earnings for growth stocks, relative to value stocks.
C. forecast higher growth rates in earnings for growth stocks coming out of a recession relative to value stocks.
Explanation: While coming out of a recession, growth stocks are likely to generate higher earnings growth relative to value stocks.
User Contributed Comments 1
User | Comment |
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janis36 | According to Carhart model, answer A is also correct. |