为什么预计市场涨要加duration或beta，预计市场跌要降duration或beta?

数量，reading9，原本书课后题第28题，问用一阶差分法所做的回归2，是怎样一个数列，是随机游走、协方差平稳还是可以用线性回归建模。 答案说是协方差平稳的，其中均值是0看懂了，但关于方差和协方差平稳的说明没有看懂。希望老师翻译以下这段“Therefore, the variance of yt in each period is Var(εt) = σ2. The fact that the residuals are not autocorrelated is consistent with the covarianceof the times series, with itself being constant and finite at different lags. Becausethe variance and the mean of yt are constant and finite in each period, we can also conclude that yt is covariance stationary. ”并作解释，感谢！

老师好，请问EV也就是enterprise value和total capital概念一样吗？如果不一样 具体差哪项呢？

这道题c选项哪里有相关的解说吗？

问：1.右边紫色我写的的笔记，假设现金流是这样的，这个公式的含义是这样吗？不用把coupon折现，直接累积到最后的时间点 带入计算吗？2.还有这个公式是怎么推出来的？ 请逐次回答 谢谢

203页32题，为什么不是1.72*（1+4%）

reading 43 第9题为什么A选项不对呢

reading43 6题 c选项为什么不对呢？

03.单选题 收藏 标记 纠错 Interest rate risk for a bond refers to the fact that when interest rates: A decrease, the realized yield on the bond will be less than the yield to maturity. B increase, prepayments of principal will decrease. C increase, the bond’s value decreases. 上一题 下一题  正确答案C 您的答案B 本题平均正确率：77% Interest rate risk难度：容易 推荐：      答案解析 Interest rate risk is the risk that the bond’s value will decrease because interest rates increase. Reinvestment risk is the risk that a bond’s cash flows will be reinvested at lower-than-expected rates. Prepayment risk refers to the fact that prepayments of a mortgage-backed security’s principal may differ from the expected rate. 问：1.C从广义的角度看 不一定对吧？如果投资期长于麦考利久期时 2.B 当利率上升，发债者不愿以更高的融资成本融资，可能会延期还款，所以B是对的？ 3.A说的realized yield是什么意思？A怎么理解？ 请逐次回答 谢谢

老师这道题里面的r-g不等于assumed caprate是不是说明assumed cap rate是going in cap rate