Risk-averse investors demanding a large equity risk premium are most likely expecting their future consumption outcomes and equity returns to be: uncorrelated. positively correlated. negatively correlated. 这道原版书课后题怎么理解呢？

能否系统地描述一下各种Var的特征和区别？

接着上一个问题，如果用收支法并假设Floating利率就是1，好像和反向合约算的答案并不一致？PV收：【C*（B1+B2+B3）+B3】*本金；P V支：本金*B1；这样对吧？然后收-支算出来答案不对呀

老师，图中A选项，这个怎么理解？谢谢

老师，第四题我看用的是反向合约方法做的，这题能不能用PV收- PV支方法做， 怎么个解题思路？ 但是貌似没办法求出新的B1，B2，B3？ 另外怎么判断用哪种方法做更合适呢，给出什么条件一般用反向合约，给出什么条件用收支方法，有规律和关键词吗？

Which of the following three statements does NOT justify your belief that the portfolio is a closet index?1. The Sharpe ratio of the portfolio is close to the Sharpe ratio of the benchmark.2. The information ratio of the portfolio is relatively small.3. The active risk of the portfolio is very low. 原版书课后题为什么要选第二个statement？原版书上说While there may be little active risk, the information ratio of a closet index fund will likely be close to zero or slightly negative if value added cannot overcome the management fees. 那说明IR确实是relatively small呀？那就可以justify呀？

按照平价公式，-c=x-p-s 为什么write call 不是short stock

老师请问这里这个4%的市场利率利息为什么是投资方收到的利息呢？不该是coupon才是收到的吗？隔太久了这个知识点忘记了

AI应计利息，和coupon什么关系呢？AI怎么求？

第1题 growth rate after year 8...准确来说是不是应该是growth rate after end of year 7 ?