876  24

  ,    ,      -
       . ,   
     . .: David R. Smith, A Simple Method for Pricing
Interest Rate Swaptions, Financial Analysts Journal, 47, no. 3 (May/June 1991), pp. 7276.

15    ,     , , 
          -
    .

16       ;     
.

17    ,     dpp/do  \/(ddp /d?p).  -
,   ,    "2      
(24.10),    ,  .

18  ,         : William F.
Sharpe, Asset Allocation Tools (Redwood City, CA: Scientific Press, 1987), pp. 33-39.

 

 	  
 	 
 	 
 	 
 	 
 	 
	  
 	-
 	   
 	( )
 	 

 

1.     :

William F. Sharpe, Decentralizes Investment Management, Journal of Finance, 36, no. 2

(May 1981), pp. 217-234.

Jeffry V. Bailey and Robert D. Arnott, Cluster Analysis and Manager Selection, Financial

Analysts Journal, 42, no. 6 (November/December 1986), pp. 20-28.

Richard A. Brealey, Portfolio Theory versus Portfolio Practice, Journal of Portfolio

Management, 16, no. 4 (Summer 1990), pp. 610.

William F. Sharpe, The Arithmetic of Active Management, Financial Analysts Journal,

47, no. 1 (January/February 1991), pp. 79.

Robert H. Jeffery, Do Clients Need So Many Portfolio Managers?, Journal of Portfolio

Management, 18, no. 1 (Fall 1991), pp. 13-19.