這道題完全沒有聽懂，老師能麻煩再解釋一遍么？
為什么portfolio的duration是Effective duration呢？
對于calendar spread的time decay不太明白：option price中包含time value，且time value隨時間臨近到期日而降低 => ST option的time value < LT option的time value？那為什么要買長期賣短期 (LT)？
我可以認(rèn)為在option strategy中，所有的斜線與水平線的夾角都是45°嗎？
這個公式老師并沒有解釋原理
能不能解釋一下 decision-reversal risk 和 reverse investment decision ？ Google出來的意思好像和老師講的不太一樣，謝謝
如果direcion是bearish,volatility是high。為什么只能buy puts,不能short calls呢？是因為volatility太大，有預(yù)測錯誤的風(fēng)險，short calls風(fēng)險太高么？
calendar spread這個策略整體還是虧錢的，也沒有規(guī)避風(fēng)險，有什么意義呢？
這里保險公司的debt investment是啥，為什么涉及prepayment penalties?
這里liablities rise by 1.5%不是變化率嗎，應(yīng)該是Δr吧，可以直接代入為rl?
能不能解釋一下段 Rising current account balances tend to be associated with rising required returns (and therefore falling asset prices), and increased capital ?ows to the deficit country to fund its deficit. Capital ?ows also in?uence currencies.
When the economy is at the trough of the business cycle, equities perform well, and valuation ratios and earnings growth are expected to increase. The analyst could also use the Grinold- Kroner model to compute the required equity risk premium and increase the portfolio’s equity weights. At this stage, the yield curve is steep with high credit and term premiums. The expectation of rising interest rates means that bonds tend to underperform, and the analyst should reduce the portfolio’s bond allocation. 能不能解釋一下這段話？equity表現(xiàn)好的時候為什么bond表現(xiàn)差
這里老師講小銀行的流行性需求更低，和書上說的不一致啊，書上不是說商業(yè)銀行的資金成本更好，流動性更低？哪個對
沖刺筆記上第134頁的例題，step 2：為什么獲得新的基準(zhǔn)利率不能用線性插補(bǔ)法？：（7.96-7)*(1.77%-1.43%)/(9.88-7)+1.53% = 1.64%? 而是要用2個bond合成？
筆記127頁的2個圖要怎么解釋？1）左圖：更陡峭的長端是高利率，所以投高利率，借入低利率？怎么匹配lend和borrow呢？2）右圖：為什么更陡峭的長端要receive fixed？怎么匹配receive和pay？fixed和floating？
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