What is the reason that an investor may prefer a single hedge fund to a fund of funds? A He seeks due diligence expertise. B He seeks better redemption terms. C He seeks a less complex fee structure. 这题答案错了吧，说选c，应该选b才对，单一对冲基金的fof手续费更贵，怎么会有人选呢？b的话会求一个更好的赎回期限

请问老师为什么半强式有效市场passive portfolio反倒会outperform？

这里他说因为股票risk大，所以期待return大。是不是所有金融资产都是这样？

这题没说贷款是几年的，第一年的500其中的300还利息是不是假设？可有依据？

Lincoln Coal is planning a new coal mine, which will cost $430,000 to build, with the expenditure occurring next year. The mine will bring cash inflows of $200,000 annually over the subsequent seven years. It will then cost $170,000 to close down the mine over the following year. Assume all cash flows occur at the end of the year. Alternatively, Lincoln Coal may choose to sell the site today. What minimum price should Lincoln set on the property, given a 16% required rate of return? A $325,859. B $376,872. C $280,913. 就因为with the expenditure occurring next year所以第一年没花钱，从第二年才有有现金流？

怎么看出有不合适conduct了？

我怎么知道他除了投行客户还有别的客户呢？

还是不明白3万为什么算pv，写的很清楚annual，

会求irr了

irr 怎么求？