用胡说八道，这个评论，太敷衍

请问我有一个子弹组合，假设就是一个十年期国债。那我的疑问是，这个债券也会有1,2,3.直到9年的coupon这个现金流啊，不也是挺分散的，那为什么不算ladder呢？谢谢

这里不需要考虑interest rate cap的费用吗？

凸度的单位是什么，谢谢

老师您好，请解释一下98题

原版书后题p196 第24.25答案不理解

goodwill属于无形资产吗？所有无形资产都要摊销吗？

Money weighted rate of return (MWR) is the internal rate of return over the period and is affected by the size and timing of cash flows. Assumes the same return over each sub-period.为啥是内部收益率？内部收益率（Internal Rate of Return (IRR)），就是资金流入现值总额与资金流出现值总额相等、净现值等于零时的折现率。这句定义与这里算的IRR之间的关系怎么解释？麻烦老师详细解答一下，谢谢

For a given levels of Macaulay duration and cash flow yield（这里久期有要求相等我理解，但跟cash flow yield有啥关系呢？）, smaller convexity is preferable to minimize structural risk. Minimizing convexity is the same as minimizing dispersion when considering portfolios with similar Macaulay durations and cash flow yields. Reducing a portfolio’s dispersion reduces its structural risk – the risk that yield curve twists and non-parallel shifts create duration gaps between the immunization portfolio and the liability outflow.（这里的duration gap是什么？为什么非平行移动产生了duration gap？）麻烦老师解答一下哈

老师，请问 libor set in arrears是什么意思？