书上这段写货币和财政政策对于利率的影响的部分，为什么认为货币政策对于利率的影响在于通胀，而财政政策的影响才是real rate? 央行的作用不是稳定通胀和增长么，货币政策肯定对通胀和真实增长都有影响啊。而且经济周期性的变化受货币政策影响更多吧

请问，当没有通胀风险的时侯，为什么短期债券的yield波动会更大呢？老师说是因为短期债券交易更活跃。但市场交易活跃不是能让价格稳定么，不活跃反而会让价格变化更大啊。

老師在課堂上說到 slowdown phase in the economic cycle. Bond yield is likely inverted. 在reading 10 中 practice problem 第8題: "Based on Observation 3, Wakuluk most likely expects Country Y’s yield curve in the near term to:" A. invert. B. flatten. C. steepen. C is correct. The current yield curve for Country Y suggests that the business cycle is in the slowdown phase (curve is flat to inverted), with bond yields starting to reflect contractionary conditions (i.e., bond yields are declining). The curve will most likely steepen near term, consistent with the transition to the contractionary phase of the business cycle, and be the steepest on the cusp of the initial recovery phase. 請問為什麼不能選 A? 謝謝

請問老師，如果加入了rare negative event會不會造成風險被高估? 在原版書中提到 "If our data series includes even one observation of a rare event, we may substantially overstate the likelihood of such events happening in the future. Within a finite sample, the observed frequency of this bad outcome will far exceed its true probability." 但是在視頻中 slide 12-114提到 This issue could also lead to an underestimation of risk when sample data include rare negative events.

GIPS中关于return presentation有一个描述，请老师解答： “When the firm jointly markets with other firms, the firm claiming compliance with the GIPS standards must be sure that it is clearly defined and separate relative to other firms being marketed, and that it is clear which firm is claiming compliance.”

麻烦能不能给我提供一个今年各科科目的占比的截图？ppt里只有各科目名称，没有比重的显示。谢谢。

图1第二段，说Hill收了礼。图2第二段为什么说没有违反IV(B)？而且这个讲解的理由和结论的因果关系我没太明白

notes第44页最下方至45页蓝色部分第一段，没有签竞业限制就能把老公司的客户带到新公司吗？

你好老师 关于行为金融学里有个概念我不是非常清楚，请帮忙解释一下。如图，这是关于挑战传统金融学效用最大化的，举例完美替代品和完美互补品关系。请问是从哪个方面去挑战的，他的意图是什么，上课时老师没有讲的非常明白，是挑战传统金融学-效用理论里的无差异曲线么？没看明白？麻烦结合效用理论或者是传统金融学解释一下谢谢。

GIPS中洪老师版本里面用于对比的samples 是哪里的 怎么课件和材料没有？