金程問(wèn)答
精 Q38，a soft lock charges a redemption fee, paid into the fund, which is inconsistent with C’s moderate sensitivity to fees. 這句話說(shuō)什么意思？soft lock是什么？
請(qǐng)問(wèn)Reading 36 課後練習(xí)題中 "18. Which of the following fee structures most likely decreases the volatility of a portfolio's net returns?" A. Incentive fees only B. Management fees only C. Neither incentive fees nor management fees 解答是 A is correct. Because incentive fees are fees charged as a percentage of returns (reducing net gains in positive months and reducing net losses in negative months), its use lowers the standard deviation of realized returns. Charging a management fee (a fixed percentage based on assets) lowers the level of realized return without affecting the standard deviation of the return series. 請(qǐng)問(wèn)當(dāng) Portfolio's returns turn negative 是收不到 incentive fees 的，如何reducing net losses in negative months?
這怎麼是bull spread？？題目是call option 那hidden lake畫出來(lái)就是個(gè)call option??？？
三小題的第三個(gè)選項(xiàng)如何解釋？
第五題，用BHB方法可以解答嗎，還是只能用BF方法？
第三題，如果從加入oppotunity cost的角度出發(fā)，應(yīng)該怎么算呢？
Q1，這個(gè)implementation shortfall，根據(jù)公式是要涵蓋opportunity cost呀。那么分解計(jì)算(35.41-35)x90,000+(35.65-35)x10,000+0.02x90,000=55,200，與直接用paperreturn-actualreturn的結(jié)果不同
沒(méi)聽(tīng)懂V公司的缺點(diǎn)
Execution Risk 和 market impact有什么不同？是指一個(gè)基本面沒(méi)發(fā)生變化，一個(gè)基本面發(fā)生變化了嗎？reading 25的第20題
精 請(qǐng)問(wèn)什么情況下會(huì)使用pre-trade/intraday/post-trade/price target benchmarks?
C怎么不對(duì)？
你好 第二題沒(méi)明白題干問(wèn)的是什么意思
這里為什么第一個(gè)是type 2 error，第二個(gè)是type 1 error？Eta現(xiàn)在表現(xiàn)不好，均值回歸的情況下以后會(huì)表現(xiàn)好，所以應(yīng)該選擇它但是拒絕了它，這不是拒真（type 1）嗎？theta現(xiàn)在表現(xiàn)好，均值回歸下以后會(huì)表現(xiàn)差，應(yīng)該拒絕但沒(méi)拒絕不是取偽（type 2）嗎？所以這題的H0是什么？
課上說(shuō)breakeven return 是剛好使得總沒(méi)用等于standard fee 但是原版書課后題：To understand the effect each fee structure has on its respective portfolio, Porter and Smith must estimate the net active return for several possible gross active returns, including less than or equal to 0.20%, 0.75%, 1.25%, and 1.75%.Calculate the net active return based on each possible gross active return provid- ed using the selected data in Exhibit 1. Show your calculations. 這道題如果你把1.25%代入求出來(lái)的總費(fèi)用應(yīng)該是0.4625%而不是0.35%
short call不應(yīng)該是無(wú)限損失嗎，怎么是一條平行直線，而且這也不是單純的call structure了吧
程寶問(wèn)答
