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CFA问答
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协会模考, 有道题的解释说: securitization results in a reduction in the layers between borrowers and ultimate investors. 麻烦老师解释下, 谢谢.
已解决Q. A portfolio manager analyzes a market and discovers that it is not possible to achieve consistent and superior risk-adjusted returns, net of all expenses. This market is most likely characterized by: persistent anomalies. informational efficiency. restrictions on short selling. Solution 信息有效, 讲义上说的是获取信息快, 成本低...等等.貌似和这里的解释不搭界? B is correct. In an informationally efficient market, consistent and superior risk-adjusted returns (net of all expenses) are not achievable. A is incorrect because in an informationally efficient market, consistent and superior risk-adjusted returns (net of all expenses) are not achievable. In such a situation, persistent anomalies are unlikely. C is incorrect because some market experts argue that restrictions on short selling limit arbitrage trading, which impedes market efficiency. Market Efficiency Learning Outcome Describe market efficiency and related concepts, including their importance to investment practitioners
已回答精品问答
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- 1.这里右侧支付端这段,party A角度他有market value risk时谁有?上下部分矛盾了啊.2.左侧的图和配文是什么意思?原本是什么?又变成什么?3.注意里面:fixed端有
- 对于老师讲的这部分,1. 我理解FRA的Payoff始终等于利率期货的Payoff部分进行折现(除以1个大于1的数),也就是说,FRA的Payoff的变动幅度 应该 始终小于利率期货的变动幅度。2. 至于是涨多跌少,还是涨少跌多,其实MRR在分母上,可以根据1/x的曲线特点来理解,无非就是MRR上升时1/(1+MRR)的变动幅度 小于 MRR下降时1/(1+MRR)的变动幅度,所以如果MRR上升时,Payoff是上升的,那么就是涨少跌多,如果MRR上升时,Payoff是下降的,那就是涨多跌少。以上2点,我理解的对吗?