可转债，可转化优先股，权证和股票期权转化成普通股时，也需要进行时间加权吗？如果需要，请举个例子吧，谢谢～

老师，题目当中说这个行业只有三个规模较小的公司，并且他们的产品是容易被复制的，不就是他们的产品是同质的、标准化的，那为什么不是寡头市场？

老师，这题的解析我没看懂，能跟我解释一下吗？

老师，新企业要进入市场必然是因为有profit>0吸引，而在长期，profit=AR-ATC=0,为什么不能用这个公式求？在完全竞争市场达到均衡不是MR=MC=AR=ATC=P吗？

课件中的trunover是不是写错了？应该是turnover?

請問原版書中課後題 Q25: Determine the most appropriate immunization portfolio in Exhibit 2. Justify your decision. 答案是 Portfolio 2 1. Money Duration: Money durations of all three possible immunizing portfolios match or closely match the money duration of the outflow portfolio. 2. Convexity: Given that the money duration requirement is met by all three possible immunizing portfolios, the portfolio with the lowest convexity that is above the outflow portfolio’s convexity of 135.142 should be selected. 但是書上說 The conditions to immunize multiple liabilities are that (1) the market value of assets is greater than or equal to the market value of the liabilities, (2) the asset basis point value (BPV) equals the liability BPV, and (3) the dispersion of cash flows and the convexity of assets are greater than those of the liabilities. Portfolio 2 的 BPV是小於 Liability的。另外，上課的時候有說要選convexity大的。滿足這兩項的應該是Portfolio 1. 請問為什麼答案是Portfolio2?

老师您好，麻烦讲解下一级经典题258页的第一题和第四题

题目的问题是futures和forward共有的特点

想问下老师，考试中如果考到比较资本化和费用化对财务指标的影响，是不是都是站在长期资产的角度来分析的，也就是资本化之后每期会有折旧或摊销？财务这块课上讲到资本化费用化对指标的影响也只有在长期资产这里

这个和基础课的老师讲的不一样啊。基础课说货币政策影响inflation，财政政策影响real rate。到底是什么呢？