Consider two portfolios, A and B. We consider their values today and on some future date, time T. There are no cash flows on intermediate dates. If arbitrage opportunities are ruled out, then which of the following statements is INCORRECT?   If the portfolios A and B have the same value today, then they must always have the same value at time T.     If the portfolios A and B always have the same value at time T, then they must have the same value today.       If we subtract portfolio A from B, and the resulting portfolio always has a zero value at time T, then it must have a zero value today.       If we subtract portfolio A from B, and the resulting portfolio always has a positive value at time T, then it has a positive value today.       If we subtract portfolio A from B, and the resulting portfolio has a zero value today, then it need not have a zero value at time T.

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Portfolio Management

Portfolio management is the process by which an investor decides that how the person will invest in a variety of assets in order to get a desired return in the future. A portfolio means a pool of assets that includes securities, bonds, and other investment instruments which helps in risk minimization of the money that has been invested. In other words, it can be said that a portfolio means a combination of assets in which an investor decides to invest their money in order to get a lump sum return in the future or even a series of cash flow that the person is expecting at the end of their job life.