作為pure indexing的替代方法，mutual fund不是可以隨時申購贖回(筆記114頁)，那為什么說Case 4: Sonera Endowment Fund中的 ". One advantage of investing in equity mutual funds is that shares can be redeemed at any point during the trading day."是錯的
TAA=target+-range 還是SAA=target+-range?
CFA有豁免研究生GMAT的政策么，都是那些大學
CFA有豁免外國大學研究生考試的政策么
你不能解釋一下這段的原因？ 謝謝 As markets become more integrated globally, required returns will fall. We saw this relationship in the Singer-Terhaar model. The analyst should increase allocations towards emerging markets that are expected to see increased integration, and away from those markets that are already highly integrated.
Pure indexing 到底是成本高還是成本低呀？筆記114頁，既說成本低，又說成本高？
LGD*POD就是expected loss。但它為什么等于spread？
這里第三題，Basis risk is the potential risk that arises from mismatches in a hedged position. 如果SEK/EUR下跌，那之前hedging position不會過多嗎？導致basis risk?
Rolldown return請解釋一下
An active fixed - income manager holds a portfolio of commercial and residential mortgage - backed securities that tracks the Bloomberg Barclays US Mortgage - Backed Securities Index .Which of the following choices is the most relevant portfolio statistic for evaluating the first - order change in his portfolio ' s value for a given change in benchmark yield ? A Effective duration B Macaulay duration C Modified duration
An ' analyst manages an active fixed - income fund that is benchmarked to the Bloomberg Barclays US Treasury Index . This index of US government bonds currently has a modified portfolio duration of 7.25 and an average maturity of 8.5 years . The yield curve is upward - sloping and expected to remain unchanged . Which of the following is the least attractive portfolio positioning strategy in a static curve environment ? A、 Purchasing a 10- year zero - coupon bond with a yield of 2% and a price of 82.035 B 、Entering a pay - fixed ,30- year USD interest rate swap C、 Purchasing a 20- year Treasury and financing it in the repo market
沖刺筆記上，第106頁的擴展：為什么做空libor就是fixed rate - 2*LIBOR？那同理做多LIBO,為什么不是2*LIBOR - fixed rate. 2)倍數(shù)2為什么是用做多/R
factor based VCV 確定不會考計算嗎
課后題，簡答題，第二問，請問表格第4列是不是Money dur(寫錯了？)。如果是的話，portfolio 2的值不是小于所需的money dur么，那為什么說三個都滿足呢？是因為差距沒有超過5%么？
note3沒看懂，是說D基金不參與shareholder activism，那為什么會free -rider by別的shareholder呢？這個基金不是就沒有股東參與這個事情嗎？
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