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CFAI text V4 P109 : leveraged & unleveraged duration
Is it that the duration of 4.00 shall be the “leveraged” duration ? Since among the 140M bond portfolio, 100M is borrowed the bond portfolio. That is to say, the bond portfolio shall be a “leveraged” portfolio.
On the other hand, D(equity) of 11.50 shall be “unleveraged” duration, right ?
Anyone can advise ? |
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发表于 2013-4-12 22:15
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