1. From your perspective, list ten (10) investment principles you learned this semester. Hopefully, these will be ones your remember in the future.

2. You are a financial advisor. Based on a clients return goals, risk tolerance, and constraints, you design a strategic asset allocation using a diversified portfolio of passively managed ETFs, representing all the major asset classes. The client asks you about replacing the passively managed ETFs with actively managed mutual funds.

Discuss the pros and cons of actively managed mutual funds vs. passively managed ETFs.

[Must mention at least three items, pros or cons]

Please answer these 2 questions in as much detail as possible