老师请问在经济学中monopoly那章，对M&A不敏感的时候为什么两个公司的市场分额要相加？

equity chapter 25第六题：Active risk is positively 还是negatively affected by the degree of cross- correlation?

老师，active share的大小是不是取决于两个方面： 1）持仓是否concentrated: If two portfolios with the same benchmark invest only in benchmark securities, the portfolio with the fewer securities and therefore higher degree of concentration in positions will have a higher level of active share. 2）net factor exposure: 如果两个portfolio持仓的concentration程度相同，那么是不是那个偏离benchmark的risk factors越多的portfolio的active share 越大？

老师好，请问一下可以把Holding-based style analysis 归类为bottom-up的strategy，把returns-based style analysis归类为top-down的strategy吗？

equity 课后题chapter 24 question 3， equity chapter 24 question 3 Growth metrics都包含什么指标呢？dividend yield算growth metrcics吗？请老师用英文表述一下这些指标？

老师，贸易盈余如果从5变成3，那么资本性账户一定从-5变成-3，我的理解对嘛

Equity 历年笔答题 2014 q3 b问 55% 的growth stocks 比45%的value stocks多了将近20%，远大于5%（洪老师上课说cfa认为如果大于5%就默认为significant different), 为何这道题还把这个stock归类为core stock?

Equity 百题 case 6 第三题 是否是超纲题？公式没见过。

Equity 百题 case 5第二题 答案中zero-beta和show a patter of returns expected to be uncorrelated with equity market returns有什么关系？

Equity 百题 case 1 第一题 答案中factors to explain stock returns are uncorrelated 什么意思？