官网有个题目， Royappa suggests that the macroeconomic model with supply-side analysis using the Ibbotson–Chen format provides a better estimate for BTP’s risk premium. 公式是: [(1 + EINFL)(1 + EGREPS)(1 + EGPE) − 1] + EINC − Expected risk-free rate 请问Ibbotson–Chen format这个考点哪里? 谢谢 题目是官网的练习题.

老师您好, 这个观点: "Compared with the geometric mean return, the arithmetic mean return is consistent with the assumptions of single period models, such as the CAPM." 答案的解释是: The arithmetic mean return as the average one-period return best represents the mean return in a single period. The major finance models for estimating required return—in particular the CAPM and multifactor models—are single-period models, so the arithmetic mean, with its focus on single-period returns, appears to be a model-consistent choice. 请您解释下, 谢谢!

a company’s sustainable growth rate assumes growth through internally generated funds and approximates the average rate at which dividends can grow over a long horizon. 老师您好，请您解释一下，上面说的. Internally generated funds.这个为什么是用内部资金呢？

 1. The best way to value private companies in a high growth stage is to use a free cash flow method. 2. Asset-based approaches are best for start-ups. 3. Market-based approaches are best for mature companies. 请老师解释下为什么，谢谢！

原版书课后题：Reading 43-22题。5年以后，也就是第二阶段的价值，我觉得应该用永续年金的方法计算。assumption 2指出，在第六年租金会上涨20%，然后不会再有增长，因此"NOI/cap rate"的方法个人觉得不适用。

reading33第33题，w怎么算出来的是1呢？最后一阶段为什么折现只有两期？

老师，我想问一下这个题的题意和解题思路

请问这个地方，为什么选C？

老师您好，reading 48的第17题，如图中红色字问题，区分正负号吗？➕1与➖1哪个active risk 更大？请老师解释一下，谢谢～

DRC就是处理panel的panel？ 老师说的不是很清楚。 谢谢！