Reading 29 Q15 of EOCs.
I gather factor timing is an attribute of discretionary managers rather than of systematic managers. Seems the question gives the wrong solution, and the errata reinforces it, I mean the mistake.
Has anyone seen this question?
Thx.
By saying chen does not engage in factor timing, that eliminates the “top down manager choice”.
I am confused about this question, too.
And i think the approach has factor timing is top-down and discretionary one.
I suppose security specific factors points to bottom up, and factor timing points to discretionary.