课后题19页8题讲一下解答内容怎么写

R27第31题，Aspen的描述中是不是还有另外一个问题，“We pursue a passive investment strategy, which seeks to identify and exploit structural inefficiencies through identifying mispricings created by loss aversion”这里mispricings created by loss aversion 应该是behavioral inefficiencies 吧？书上说：“Behavioral inefficiencies are perceived mispricings created by the actions of other market participants, usually associated with biases, such as trend following or loss aversion. These inefficiencies are temporary, lasting long enough for the manager to identify and exploit them before the market price and perceived intrinsic value converge. Structural inefficiencies are perceived mispricings created by external or internal rules and regulations. These inefficiencies can be long lived and assume a continuation of the rules and regulations rather than a convergence.”

资产负债表不是都有吗？Obligation/asset/不也都在表上吗？

养老金不是只有IFS下才会有net asset 或者Liability吗？ 这个科目，跟overfunding或者underfunding 不是重复了吗？

16页15题怎么作答

请问cost of trade credit需要掌握计算吗？好像上课并没有讲到计算

R27第30题，虽然说Yang只有3 年就退休了，投资期限较短，但是Alpha基金的drawdown duration 只有21个月呀，小于三年，不是吗？再加上Alpha的capture ratio等于4，远高于另外两个基金，为什么不选Alpha?

道德基础课3d case1 为什么excluded accounts under certain asset level with disclose是可以的？

百题case2 第二题。这里回购收益率1%。让公司股数增加。不是应该➖吗。为何是➕

老师您好，GIPS讲义386页中说，当有一个新的portfolio,应该及时并入composite,老师上课讲的时候也是说不能建仓完成之后再并入。这个和讲义333 Temporary new account矛盾吗？老师上课将临时账户的时候，就是说建仓完成后再并入。