sayyescici

QUOTE:

以下是引用brightcool在2011-6-8 6:00:00的发言：
对

 

你对书最熟了。这个在哪个volume? chapter?

 

sayyescici

QUOTE:

以下是引用sayyescici在2011-6-8 6:01:00的发言：
上面关于 macro, 还有两个inputs 同意吗？

 

 

这个有人同意吗？

 

sayyescici

 

 

bond rebalance ratio.

sayyescici

QUOTE:

以下是引用brightcool在2011-6-8 6:06:00的发言：

READING 28

 

 

thanks

sayyescici

QUOTE:

以下是引用cfapass2011在2011-6-8 6:16:00的发言：

 

I answered this one with managers universe... I couldn't figure this one out so I made a wild guess...

 

 

this one's answer should be either micro or macro

sayyescici

QUOTE:

以下是引用erix9000在2011-6-8 6:48:00的发言：
Gold的哪题应该是reverse cash and carry, long forward, short on spot (Pay lease rate), lend preceed@RF, 不过我考试的时候选错了，mmd，下午已经错了7个了。Option breakeven的那个我怎么记得是buy put，sell call啊？因为题干好像要求lock value，结果我选了78.2，如果我反了的话就是82.3了。

早上Return rate哪题其他一切都对，最后算成before tax了，不知道到能不能拿点partial credits

 Are you talking about the first question of gold ones?

sayyescici

QUOTE:

以下是引用erix9000在2011-6-8 7:09:00的发言：
 gold第二题

 

wasnt the answer is B: arbitrage oppotunity: borrow from bank?

sayyescici

QUOTE:

以下是引用lululi在2011-6-8 7:15:00的发言：

大家能说说早上第一题return 那个7.8％怎么得出来的么？

 

我记得是asset减掉两个immediate 开销，income就是不用调整的pension，expense是current支出*inflation，两个一减，再除net asset，之后加上一个inflation

 

对么？

 capital base: 8MM-3.5MM -150,000 = 4.35mm

the end of year cash flow is zero (flat)

                                    Inflow:  income             +xxxxx

                                    outflow: living expense  -xxxxxx

                                    mortgage:                    -xxxxxx

                                    net cashflow:                 0 

 

 

the first year cash flow:   inflow: pension                  +48,000

                                   outflow: living expense:      -110,000(cant remember the number)*1.03=xxxxx

                                    net cash flow:                   -209,670

 

real after tax required return:     209,670/4,350,000=4.82%

 

nominal after tax required return: 4.82+3=7.82%

[此贴子已经被作者于2011-6-8 7:22:53编辑过]

sayyescici

QUOTE:

以下是引用brightcool在2011-6-8 7:24:00的发言：
对 LIQUIDITY 就是209670这个 或者税前 /0.8 TIME HORIZON 是 3 STAGE

 

 

time horizon: 1st stage: before one of two dies,

                    2nd stage: after one of two dies till the other survivor dies

sayyescici

QUOTE:

以下是引用brightcool在2011-6-8 7:31:00的发言：
aggressive subportfolio

 

 

macro or micro?