[Solved] A naked option write is a conservative strategy. Bogey Portfolio: A benchmark used to evaluate a fund's performance by comparing it with a standard point of reference. Asset Classes: Categories of assets with similar characteristics, such as equities, fixed income, real estate, and commodities, used in investment diversification. Asset Allocation: The strategy of distributing investments among various types of assets (e.g., stocks, bonds, real estate) to optimize risk and reward based on an individual's or entity's goals and risk tolerance. Excess Return: The return on an investment that exceeds a benchmark or risk-free return.