问题如下图：
选项：
A. 
B. 
C. 
解释：
NO.PZ2015121801000038 问题如下 Whiof the following return calculating metho is best for evaluating the annualizereturns of a buy-anholstrategy of investor who hma annuposits to account for eaof the last five years? A.Geometric mereturn. B.Arithmetic mereturn. C.Money-weightereturn. is correct.The geometric mereturn compoun the returns insteof the amount investe 这道题目的意思是从投资者角度，衡量投资的年化收益，就是和基金经理无关。那不是应该用MWR？
NO.PZ2015121801000038问题如下Whiof the following return calculating metho is best for evaluating the annualizereturns of a buy-anholstrategy of investor who hma annuposits to account for eaof the last five years?A.Geometric mereturn.B.Arithmetic mereturn.C.Money-weightereturn.is correct.The geometric mereturn compoun the returns insteof the amount investetwr是没年的收益率做几何平均，但除了最后一年能算收益，之前的每一年没法算收益啊，请指教
NO.PZ2015121801000038问题如下Whiof the following return calculating metho is best for evaluating the annualizereturns of a buy-anholstrategy of investor who hma annuposits to account for eaof the last five years?A.Geometric mereturn.B.Arithmetic mereturn.C.Money-weightereturn.is correct.The geometric mereturn compoun the returns insteof the amount investeMWRR就是Geometric me为社么不选C（我觉得MWRR更确切）
NO.PZ2015121801000038 问题如下 Whiof the following return calculating metho is best for evaluating the annualizereturns of a buy-anholstrategy of investor who hma annuposits to account for eaof the last five years? A.Geometric mereturn. B.Arithmetic mereturn. C.Money-weightereturn. is correct.The geometric mereturn compoun the returns insteof the amount investe 是否无论题干怎么描述，永远都是TWRR比MWRR要好？
NO.PZ2015121801000038 Arithmetic mereturn. Money-weightereturn. A is correct. The geometric mereturn compoun the returns insteof the amount investe 老师，题中说每年都存，那不是每年都有现金流么？这种情况下用twrr衡量岂不是没有考虑现金流进入时点不同？
