标题: cash and carry CFAI [打印本页] 作者: sabre 时间: 2011-7-11 18:59 标题: cash and carry CFAI
why did they not borrow at the risk free rate in 2B on page 203 in CFAI Reading #38?作者: bodhisattva 时间: 2011-7-11 18:59
I think this question was already asked .
The whole point is that you do borrow at the risk free rate ( and under no arb condition you make just enough to pay off the loan. i.e. your rate of return is the risk free rate.)
Question 2C then goes on to show that earning only the risk free rate does not lead to the right price over the next few months , so something else is up in the widget market作者: pennyless 时间: 2011-7-11 18:59
