老师，您好，x-m=s-i + t-g这个公式成立的原理是什么呀，谢谢啦

Based on the description provided by Klein and Tao, the US is most likely in the late expansion phas

Analysis has shown that when adjusted for leverage, REITs have delivered a similar return and standa

请问这道题为什么不是7.5m都投在taxable brokerage acount里的equity中，而只有5m？谢谢

discretionary account不是指manger有只有支配的权利吗？客户有权利不就是non-discretionary account？为什么这道题给了书面同意就可以不考虑best execution？谢谢老师

第三题，statement 2这句话我觉得不对哦。Since GESG’s benchmark has fewer constituents than the Russell 1000® Index, GESG should have a lower tracking error than it would if it were tracking that index. "fewer consituents"不代表lower tracking error吧，难道不看liquidity吗

第四题为什么不选C。 Second, I seek contrary viewpoints from other investors and sell-side analysts, as well as set and enforce proper portfolio diversification rules. 我觉得这个已经解决了B 选项的overconfidence bias.

the forecast foreign exchange rate in one year = (1 – 0.015) × spot DOM/FOR = (1 – 0.015) × 1.3020 =

关于开盘价那里，是说投资者在开盘前15min参与竞价，然后mkt会根据这些报价选择一个合适的价格与参与者交易？所以这个价格作为benchmark过于主观，不适合参与竞价的人？还是说不适合所有在这天交易的人？

第一题, systematic 可以达到这个要求吗：Flagship occasionally considers the economic and geopolitical environment, especially during unusual economic conditions.