【摘要】 现代金融理论认为,系统风险无法通过组合投资进行规避,承担系统风险被市场承认从而可以获得风险报酬;非系统风险可以通过组合投资进行有效分散,因而承担非系统风险不应获得风险回报.试图阐述系统风险完全可以规避,指出承担非系统风险也应获得风险报酬,给出计量非系统风险回报率的规划方法,该规划的最优解同样满足两基金分离定理.更多还原

【Abstract】 Modern financial theories believe that systematic risks can not be avoided by portfolio and investors can gain risk returns by bearing systematic risks.Nonsystematic risks can be distributed by portfolio and investor can not gain risk returns.The article describes that in fact systematic risks can also be avoided,points out that investors should gain risk returns by bearing nonsystematic risks and gives the means to measure the rate of return of nonsystematic risks and the result of this planning also meets the Two Funds Separation Theory.更多还原