- **33** Which of the following is most likely a reason for using asset-based valuation? A The analyst s valuing a privately held company. B The company has a relatively high level of intangible assets C The market values of assets and liabilities are different from the balanc sheet values.为啥Asset-based valuation适用于privately held company？书上找到这段话：Owners of small privately held businesses are familiar with valuations arrived at by valuing the assets of the company and then subtracting any relevant liabilities.能解释一下吗？

难道不是越segment ，利率越高，越吸引capital

老师，关于Enterprise value的公式有些题目表述不一致，主要是cash and investments ( cash equivalents and short-term investments），有的题目只有cash（28题），有的题目只有short-term investments（31题）.这个考试的时候不用管这些细节吧？

问一个问题，conversion premium是bond price减去conversion value，老师在视频中说一定为正，我想不通。比如par value 为1000的bond，现在的price为1100，conversion ratio为25，现在的股价上升到了50，那么conversion value就为1250，已经大于了债券价格了，这个怎么解释premium呢

麻烦老师帮忙解答这三个观察怎样理解 感谢

想问一下reading18第16题答案中的acquired和acquiring有什么区别呢，谢谢老师

请问计算EAR为什么是用6%/4，而不是(1+6%/4)^4-1来算呢？

VIX策略我懂 就是买便宜的VIX卖出贵的VIX。另两种波动套利咋做的

为何工资收入职业年龄这些也不包含啊

这题精简一点怎样回答能答道得分点？