单选题 Which of the following statements does NOT describe the role of a portfolio manager in perfectly efficient markets? Portfolio managers should: A. construct diversified portfolios that include international securities to eliminate unsystematic risk. B. quantify client's risk tolerance, communicate portfolio policies and strategies, and maintain a strict buy and hold policy avoiding any changes in the portfolio to minimize transaction costs. C. help clients minimize taxes and reduce trading turnover.
【正确答案】 B
【答案解析】A portfolio manager should quantify each client's risk tolerance and communicate portfolio policies and strategies. However, adhering to a strict buy and hold policy would not be in the client's best interest. Portfolios need to be rebalanced and changed to meet client's changing needs.