老师你好，对于VIX futures 可以帮忙解释一下吗？1：在我的理解来看，VIX 是波动率指数，当预期波动率上升时，long VIX futures 是有力的:2：VIX futures 相对于exchange traded optoins更容易体现mean-reversion due to the non consistent volatility?所以如果选项有exchange traded options, 不选VIX Futures?原理是什么？3：当VIX futures 显示贴水，指的是volatility上升，所以要long VIX futures会受益？

如果计算本题high water mark应该怎么计算

为什么after rebalancing range higher than pre tax

老师，请问这题计算net wealth,为什么vacation home要算成纯负债？他买了这个房子之后房子还是他的资产啊，这笔钱只能说是一个投资计划而已

请问这句话怎么理解？The roll down return is equal to the bond’s percentage price change assuming an unchanged yield curve over the strategy horizon. The roll down return results from the bond “rolling down” the yield curve as the time to maturity decreases. As time passes, a bond’s price typically moves closer to par.

请问老师Reading13课后题第17题如何理解

为什么说Value weighted的index更容易遇到credit quality deterioration的问题？

Liability-based mandates是指cashflow matching吗？

老师可以讲一下这道题吗，什么是期权定价，考纲里需要掌握吗

为什么这句话是错误的？Asset-driven liabilities (ADLs), like LDI, are special cases of ALM. Financing companies accumulate assets as a result of their underlying business. They use ADLs to structure their assets in a way that matches the maturities of the liabilities.