关于 non-discretionary、non-fee-paying账户能否放进composite的分类，有个图能否再发一下

个人IPS原版书课后题 145页-147页11-14题（关于管理PE的集中度风险，税收考虑的）的答案老师可以提供下嘛？答案书本里面没有哦

return base会有数据操纵的吧。是trading里写的，equity通用吧

strategy 1有什么问题吗，我觉得每一步都很合理啊？反倒是strategy 2, 预期CHF会升值，那long一个strike price那么高的put是干嘛

peg计算时除的g带%吗

Regarding the currency overlay program, it will add value to the portfolio only if the currency alpha has a low correlation with other asset classes in the portfolio 为什么？

β target 为啥是1呢？哪里看出来它是要跟踪S&P 500 index呢？谢谢老师~

解析是什么意思？ The high correlation between the currencies does not help here because the investor will be using forward contracts to sell both of these currencies. ？？

题目不是说了the shares had increased to EUR100 each 并且 and the increase in the notional size of the position was hedged using currency options。这么重要的信息为什么不用？

a decline in the US trade deficit, 说的很模糊啊，绝对值的减少还是带符号的减少？