原版书reading21的课后题的第12题，comment 1 和2错误在哪里？ Comment 1 Comment 2 Comment 3 Callable debt has a smaller option-adjusted spread than compara- ble non-callable debt. Benchmark corporate bond issues normally have wider spreads than older bonds of the same issuer. The announcement of a new corporate bond issue often leads to an increase in the credit spread on the existing bonds.

原版书reading21 课后题的第8题的difference 2 和3 错误在哪里？ Difference 1: Difference 2: Difference 3: Commodity producers and banks represent a higher proportion of EM indexes than of developed market indexes. Total or partial government ownership of EM issuers is common, which results in a higher average recovery rate for defaulted senior unsecured bonds for EM markets than for developed markets. Compared with developed markets, the credit quality of EM issuers tends to be more concentrated at the very high and very low por- tions of the credit spectrum.

原版书课后题reading 21 的第3题中的，observation 1 和2 错在哪里？

核心资本折现率用无风险收益可以理解，但为什么收入波动率大就要增加折现率呢，折现率越大现值不是越低吗，我理解的是收入越波动折现率是不是应该更低来要求准备更高现值呢？谢谢老师

冲刺笔记下 第7页那个年化持有期收益率与利率 正相关、负相关那里，不太明白

老师，百题的CME部分case5的第六题，为什么econometric modeling的优点这个表述是对的？我看笔记上说econometric modeling的缺点是无法预测turning pointing啊

老师请教一个小问题，Covariance和Correlation的转换公式是什么？一级学的，找不到笔记了

Sometimes it is necessary to use daily data to obtain a data series of the desired length. Ironically, high-frequency data improves the precision of sample variances, covariances, and correlations but not the precision of the sample mean. 老师，这个为啥啊

上午题让我判断是哪个bias，我答出来名词，后面不解释能拿分吗？

在算单个资产对总的variance贡献的时候，用单个的standard deviation除以总的standard deviation可以吗？算出来数值跟用单个variance 除以总得variance一样。