百题Case3第3题 文中给了Asset class的correlation 都是0.7，为什么忽略了这个数据，而是通过主观认为Emerging Market Equity会和Global equities更冲突。而且即使是主观判断，那Case1中还认为Emerging Market 应该是个Separate class 对于Global 来说。 所以这个correlation数据有什么用呢？ 谢谢老师

老师，正态分布中的正偏和负偏，像我图片里这么理解是对的吗？峰值在平均数的右边是左偏(negative)，峰值在平均数左边是右偏(positive)？

百题Case2 第1题 书上说了SWF不可以投太过激进的。和本题答案有冲突。请帮忙解释。 第6题 为什么Spread高就说明HYB是undervalued呢？为什么不能是HYB风险很高不适合投资呢？ 谢谢老师？

老师，这里的压力测试是什么，可以讲解并附上相关讲义吗，谢谢！

老师这个资金成本为什么是机会成本 可以解释一下吗

这个地方的POS的递推式怎么理解呢？

历年真题 - 行为金融学 - 2013年 C 可否概括成三个得分点？ 1、Murray is correct that Siosan's retirement portfolio allocation is consistent with Behavioral Portfolio Theory and not consistent with a mean-variance framework. 2、BPT investors construct their portfolios in layers. Siosan's portfolio is consistent with BPT and is constructed in layers (money-market securities and speculative stocks) 3、"Mean-variance portfolios are constructed as a whole, and only the expected return and the variance of the entire portfolio matter"

历年真题 - 行为金融学 - 2013年 B 答案略冗长，是否可以简要概括成四个的分点？ 1、Siosan exhibits a self-control bias by spending all of her curent salary income and half her bonus income on current consumption, pursuing short-term satisfaction rather than long-term goals. 2、A rational economic individual uses self-control to pursue long-term goals rather than short-term satisfaction. 3、Siosan exhibits a mental accounting bias by treating one sum of money different. She uses salary income and half of her modest annual bonus to execute option trading, while she doesn't use retirement account to do option trading. 4、A rational economic individual treats money as fungible.

老师这里说发达国家的外汇储备是更多的，为什么? 有具体例子吗？

在monetary approach里面，Ms增加，不影响利率吗？为什么?