老师，这里short side是假设持有外币现货所以是+S，然后担心外币贬值所以short forward所以是-FP吗？

請問關於emotional biases這樣寫有沒有哪裡需要加強的謝謝 1. Overconfidence: the bias shows investors to think they know more than anyone regarding the company they hold. Richard thinks he knows more than other investors, which indicates overconfidence bias; 2. Endowment: the bias shows investors to value more the positions they hold. Richard thinks the company is a good investment and doesn't consider other possibilities which indicate endowment bias; 3. Status quo: the bias shows investors to stay with the same investment without consideration of other investments. Richard expects the company will continually be a good investment in the future, which indicates status quo bias.

这个双弯曲线老师说的和讲义不一样，讲义是中间一段risk seeking吧

請問這題關於systematic risk vs nonsystematic risk 這樣的寫法有哪邊需要改進呢?

【2012年Q2 A问】如果taxable 账户和 tax-exempt的账户都出现了亏损，如果加大投资在taxable 账户，则taxable 账户的税后收益更高，同时investment risk 更低，政府也同样承担了部分风险； 答案说：Alonso’s after-tax return would have been greater than or equal to his actual return, if a greater proportion of his investments had been in taxable accounts. This is because he can use losses to offset other income or realized gains. 我的问题：如果加大比例在tax-able 账户，确实前面的损失可以抵扣一部分relaized gian，但是在相同的收益情况下，tax-exempt账户是不收税的，那么其实为什么就一定可以得出tax-able 账户的税后价值就一定高于或者等于tax-exempt？

Equity中case2 q2中有short extension strategy，课件里是long extension，请问这两个是一个东西吗？

这张图显示，porfolio超配了长期债券且长端利率上升，带来duration effect下降。但是第二个curve effect ，答案是flatten,长端利率下降，短端利率上升。 前后两个EFFECT 推出的结论为什么是矛盾的？那长端利率到底是上升了还是下降了？

笔记中long_only 好处第二条是对投资能力要求更低，补充里面是对投资要求能力更高，请问到底是高还是低呢？

请问固收case11第3题的选项A和C之间有什么区别？感觉都是一个意思。谢谢

老师你好，请问是否有这种collar的组合？买一个ATM的put，买一个ATM的call，put和call的行权价格还是一样的。 我怎么感觉不会存在这种组合。 肯定是Call的行权价格高于put才对啊。