high interst rate为什么对distressed secureities strategy没有帮助，怎么理解利率对这个strategy的影响

which are currently hedged with a GBP 100,000,000 forward contract 如何判断买一个forward是指的要卖出GBP呢，，，如果是买 GBP/SEK forward。实际上是指卖出GBP买SEK？

Since GESG's benchmark has fewer consitituents than the Russell 1000 index,GESG should have a lower tracking error than it would if it were tracking that index怎么理解？

这两个公式有什么区别

为什么b不对呢

upward sloping时，为什么采用buy and hold策略呢？

overlay manager是啥意思

问一个与答题无关的问题：Liu was able to execute the order over the course of 30 minutes and received an average price of $50.55. The price at the time the order was placed is $50.45. The volume weighted average price (VWAP) over the trading horizon was $50.52, 请问这里的50.55和50.52都是指实际成交均价对吗，计算或含义上有什么区别？谢谢

第四题这种，如果没有记错的话，应该有的题就是根据哪个概率离目标最近来判断应该选哪个目标的？

老师，您好，第四题，为什么两种都是低波动过，原文multi更volatility