2022 CFA Curriculum page number 429. line 13.
It says that Tactical asset allocation is not concerned with individual security selection.
2022 CFA Curriculum page number 431. line 4.
Value and momentum , for example are factors that have been determined to offer some level of predictibility,both amond securities within asset classes (for security selection) and at the asset class level (for asset class timing)
It is looks to me the two part of the curriculum is contractic each other. Somebody can help me to understand better the limitation of TAA in terms of security / asset selection?