68页27题想问下蓝老师，这个题题干怎么看出是针对bhatt来说的，答题的时候很容易忽略这个

第二个基金tracks their ultimate performance against market benchmarks，这里的market benchmarks 就一定是大盘指数吗？一只个股的错误定价与大盘指数去比较这确实是没有逻辑，不至于犯这么低级的错误吧，但是我的理解是每种行业也有自己的benchmark ，这个基金也有可能是说与自己的行业的benchmark 相比较呢？另外，如果题目中确实说明会与行业的benchmark 去比较，那么这个基金是不是就没问题了，因此也可以入选了，是吗？

68页27题，基础课老师讲类似题的时候，说的怕什么就买什么，这里她怕美元上涨，那就应该买美元啊

老师好 百题case 2 第三题 文章中提到$15,000的statutory allowances 这个限制条件为什么没用？至少这部分的gift不用被tax吧？为什么答案里这部分也算tax了 感觉分子gift应该分两部分 缴税（1-tg)*85% + 不交税 就 *1 然后 再乘以 （1+rg(1-t))^20； 然后第四题其余两个选项为什么不对？谢谢

您好，能帮忙讲讲这道课后题的三个选项吗？谢谢

老师好 请问百题case1 第5题 statement 3不是很理解。“if Janice were to add a 10-yr period certain option to her annuity, her income yield would be reduced when compared to not having the option, but it would be reduced by greater amounts the longer she waits to purchase the annuity" 为什么income yield 会下降？为什么越晚降得越多。谢谢

老师，麻烦解释下官网题这个case的两道题

19页10题请老师讲下相对ppp公示？ 另是否这样理解，如果a国r下降，则inflation上升，a国货币贬值？

课后题19页8题讲一下解答内容怎么写

R27第31题，Aspen的描述中是不是还有另外一个问题，“We pursue a passive investment strategy, which seeks to identify and exploit structural inefficiencies through identifying mispricings created by loss aversion”这里mispricings created by loss aversion 应该是behavioral inefficiencies 吧？书上说：“Behavioral inefficiencies are perceived mispricings created by the actions of other market participants, usually associated with biases, such as trend following or loss aversion. These inefficiencies are temporary, lasting long enough for the manager to identify and exploit them before the market price and perceived intrinsic value converge. Structural inefficiencies are perceived mispricings created by external or internal rules and regulations. These inefficiencies can be long lived and assume a continuation of the rules and regulations rather than a convergence.”