為什么borrowing $100 of the security and selling it會(huì)使得asset變?yōu)?00、debt變?yōu)?20？為什么追加了50保證金之后asset、debt、equity的數(shù)值都不會(huì)發(fā)生任何變化？
Assume Lever Brothers finances a long position in $100 worth of an equity at the Reg T margin requirement of 50%. It invests $50 of its own funds and borrows $50 from the broker. Immediately following the trade, its margin account has $50 in equity and a $50 loan from the broker (The broker retains custody of the stock as collateral for the loan). 老師這段話描述的過(guò)程應(yīng)該怎么理解？使得asset、debt、equity怎樣變化？
老師這道題的思路是這樣嗎，F(xiàn)inancial instruments owned是所有可以用的抵押品，Pledged as collateral是已經(jīng)用了的抵押品，計(jì)算四家銀行的Pledged as collateral/Financial instruments owned，得到的數(shù)值越小，說(shuō)明剩余的未被用到的抵押品越多，銀行就越不脆弱？
視頻解析里計(jì)算ROE的公式是怎么來(lái)的？為什么和講義里用杠桿算的最后結(jié)果可以一樣？
為什么額外借了6m之后，計(jì)算的時(shí)候ROA和cost of debt 還用的是原來(lái)的數(shù)據(jù)9%和4%？這兩個(gè)數(shù)值不會(huì)改變嗎？
老師這道題涉及的知識(shí)點(diǎn)在講義的哪里？
老師B和D還不太明白
老師可以貼一下BCD選項(xiàng)說(shuō)的內(nèi)容對(duì)應(yīng)的講義PPT嗎
老師B選項(xiàng)說(shuō)銀行transforms long-term illiquid assets (e.g., loans to businesses) into short-term liquid ones，這應(yīng)該怎么理解？是怎么transform的？
強(qiáng)化課中不是總結(jié)過(guò)一條結(jié)論 最優(yōu)組合的時(shí)候各資產(chǎn)的邊際var相等 貝塔相等且等于一 為什么不能直接用這個(gè)解輪直接選擇 選擇c因?yàn)樗麄兊倪呺Hvar最接近
精 為什么可以把TR TC同時(shí)體現(xiàn)在縱軸？
請(qǐng)老師解釋一下四個(gè)選項(xiàng)為什么正確/錯(cuò)誤
1、題干里“We are interested in the lognormal value at risk (aka, lognormal VaR) over a one-year horizon; that is, we assume geometric returns are normally distributed.?”這句話是想說(shuō)什么？2、可以放一下計(jì)算lognormal VaR的公式嗎？
老師可以放一下VaR計(jì)算公式的講義嗎？（LVaR = VaR ＋ LC的第一部分的計(jì)算公式）
老師這道題是想問(wèn)什么？什么是unwind this two-position portfolio？
金程問(wèn)答