并购那天正好抵消获利这句话怎么理解，能否具体说明下过程

Q1 计算回购后EPS时，分子earning为何不变，如果不变的话，那surplus cash去回购EPS就肯定上升了？

老师，104million怎么判断是发行股数还是发行金额呀

1.ETF bid ask spread, 来源中，第二个，Bid–ask spread of the underlying securities held by the ETF，图1说不是主要的，课上讲是核心来源（图2），哪里错了？ 2.The range of risk exposures available in the futures market is more diverse than that available in the ETF space. 这句话为什么错的？

第6題 Statement 2 描述的是俱樂部趨同嗎?

请问Q7，为什么不是identifiable net assets 乘以 少数股东比例 为Minority Interest呢？

三种方法equity method、acquisition method和proportionate consolidation

net assets和identifiable net assets有啥区别，net assets比identifiable net assets多了哪些东西呢

Bad economic times also tend to be associated with declining risky asset payouts (declining earnings and dividends for ordinary shares and defaults for bonds), leading to declining asset prices. The result is that the covariance term for risky assets is typically negative...为什么书上说，经济不好的时候cov <0 ?

Q4债券融资回购为什么Equity也要减去155呢？