Value&growth stock和市值无关吧，因为可以是小盘value或者大盘growth吧。value的P/E和P/B比growth小怎么理解？股利那个能理解，growth要多留点钱发展。

Which of the following transactions is least likely to increase reported operating cash flow for the period? A. Financing of payables. B. Securitization of receivables. C. Exercise of employee stock options. 请问什么叫Securitization of receivables？ 三个选项分别如何分析？ 谢谢

很奇怪，我在计算器上算C5-4得出计算答案是120. 摁的顺序是5-2nd （-号）npr——4 我认为C5-4和C5-1应该是相等的，但我同样顺序摁C5-1得出就是5，应该是什么原因呢

Q-9. Assume U.S. GAAP applies unless otherwise noted. Charles McKinmon, CFA is analyzing the financial statements of Computers On Credit, Inc. (COC). COC has sold $60 million of accounts receivable for proceeds of $50 million, and McKinmon wishes to treat the transaction as collateralized borrowing. McKinmon's financial statement adjustments will most likely include adding: A. $50 million to accounts receivable. B. $50 million to cash flows from financing activity. C. $50 million to cash flows from operating activity. 麻烦解释一下题意和三个选项的思考，谢谢

为啥上课老师讲的 var 是 用 P*（x-x(平均)的平方，题的答案里是 p*(x-E(x)) 啊

原版书后习题15题第一问，reverse optimization必须要用market cap作为权重来计算allocation吗？其他因素是否可以？

老师好！为什么此题中的discount rate就是discount yield的概念？

这里的price定价，应该和咱们学的定量的估值方法无关吧。就是bond交易不活跃，公允价值不确定吧。因为如果从计算r的角度来说，bond的r是好计算的。感觉这里并不是考这个点。

就直接开Equity了 corporate finance的R31是不考？

如果上司发现下属违规，不用报告监管部门，之后怎么操作呢？