想问一下这个公式 到底什么时候用0.005什么时候用1/2 对于百分数 讲义上用的1/2 但课后题又用0.005。 谢谢老师新年快乐！

老师，cash flow yield和YTM有什么区别和联系啊？

老师，课后题RR19第12题，cash flow yield 为什么等于IRR啊

为啥A是低利率，所以A远期是溢价？

请问，为什么duration的前提假设是平行移动？？请解释原因，这里不懂。

这里的bets是种什么策略

老师，请问书本279页第二十一题答案，Assuming DiCenzo does not reinvest the tax savings, tax loss harvesting does not reduce the total tax paid over time. It only defers taxes because recognizing the loss resets the cost basis to a lower figure which will ultimately increase the gain realized late by the same amount. Tax loss harvest can augment return by postponing tax liabilities. Reinvesting the current year’s tax savings increases the after- tax principal investment, which can augment the value of tax loss harvesting further这一段怎么理解？不太明白？

老师，请问书本279页第十九题答案， If a portfolio contains unre-alized losses, however, a certain amount of trading activity is required to har-vest tax losses. That is, tax- efficient management of stocks in taxable accounts does not require passive management. It requires passively allowing gains to grow unharvested, but actively realizing losses这一段不太理解是什么意思？

题干里有说过she assures her team that this strategy performed well in the past and will revert……这不就是根据过去经验判断，就是representative bias啊。还有illusion of knowledge 就等于 illusion of control吗？

这里题干明明说了她怕等到股价回归均值时无法获得相关的收益，不就是指regret aversion吗