老师，请问原版书中这句话如何解释？Unlike the Sharpe ratio, the information ratio is affected by the addition of cash or the use of leverage. For example, if the investor adds cash to a portfolio of risky assets, the information ratio for the combined portfolio will generally shrink. (Institute 478)

老师您好，有一道原版书上的问题，一直搞不清楚，希望老师给予提示。 Book 4, SS10-11, Fixed income portfolio management, Reading 24 Yield Curve Strategies, Question #23, “Over the next 12 months, Abram expects a stable yield curve; however, Abram’s supervisor disagrees with Abram’s yield curve outlook. The supervisor develops two alternative portfolio scenarios based on her own yield curve outlook: Scenario 1: Sell all bonds in the Fund except the 2-year and 30-year bonds, and increase positions in these two bonds while keeping duration neutral to the benchmark.” 18. The yield curve expectation that Abram’s supervisor targets with Scenario 1 is most likely a: A. Fattening yield curve. B. reduction in yield curve curvature. C. 100 bps parallel shift downward of the yield curve. The correct answer is A. 我想知道为什么不选择C？谢谢老师。

题目中IAS NO.1是什么意思？

这个题目有问题，这样计算出的是通胀率，而非增长率，题目所给条件，应该无法计算经济增长率

老师你好，请问这个地方算MV1的时候，为啥不加上当期的45呢？因为45也算是1时刻的现金流啊

所以，题干中的risk-free return是无关信息？ 以及特别想问一下portfolio beta指的是？

关于new equity issuance，为什么讲义上写的是IPO多的时候upward price trend may be about to turn down而老师讲解的是IPO多的时候说明市场状态较好

图中公式中字母的下标如何理解?谢谢

哪里有说好的货币政策要保持稳定？这个题不是用蒙代尔三角形model做吗？

这个题为什么不是A呢？