ninja1024

22 - it is ok, look at page 409 in book 6. The question asks about mean-variance effect on the result portfolio and you have to know you count it using also correlation
24 - you are right
38 - yep, I am not sure either. I can imagine the situation where for example you have BS accruals down because of going down the value of some non operating security held available-for-sale and for instance no earnings in IS nor CF. Now I am not confident there is such a link between earnings and BS accruals…