2013年CFA二级培训项目 Economics 何旋 金程教育资深培训师 日期：2012年12月16日 地点： ■ 上海 □北京 □深圳 何旋 ¾ 职称：金程教育资深培训师、通过CFA三级、通过FRM二级 ¾ 授课：主讲CFA一级、二级、三级固定收益、衍生产品，一级、二级数 量分析和组合管理、经济学、职业伦理，FRM一级二级，RFP投资策划 课程等。 ¾ 专业能力：讲课幽默风趣，最擅长的是将复杂问题简单化，通过举大量 实例帮助学员理解复杂问题。金融理论知识扎实，在金融教学中有自己 独到的方法。多年对CFA、FRM、RFP等考试体系的研究使她全面掌握 考试重点，尤其擅长经济学、投资学课程的讲授，能将复杂的理论具体 化，在授课过程中能够从考生角度出发，提供自己在备考过程中的经验 和方法，帮助考生更好的准备考试。 ¾ 客户：摩根史丹利、工商银行、中国银行、瑞穗实业银行、南京银行、 兴业基金、太平洋保险等。 ¾ 联系方法：hexuanf@gmail.com ¾ 微博：何旋katherine 2-94 100% Contribution Breeds Professionalism CFA二级课程框架
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Department of Economics and Finance: Baruch College-CUNY Fin 9786: International Financial Markets (Section PTR) (T & Th: 5.50 pm – 7.05 pm: Room 8-155‚ VC‚ & Wasserman Trading Floor Fall‚ 2011 |Professor Jae W. Lee‚ Department of Economics and Finance Baruch |CNUYBlackboard Site: | |College-CUNY‚ New York‚ NY 10010 |https://portal.cuny.edu/portal/site/cuny/index.jsp?epi-content=LOGIN
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Chapter 1 – Introduction to multinational finance Introduction of international business finance Three phases of business o Domestic phase : operations are confined within the boundaries of one country o International trade phase : the firm imports materials or export its product or both o Multinational phase : the firm establishes operations overseas Structure of a multinational corporation Board of Directors Management Shareholders Debt Assets Equity o o o o o The firm can be viewed
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CHAPTER 6 INTERNATIONAL PARITY RELATIONSHIPS AND FORECASTING FOREIGN EXCHANGE RATES ANSWERS & SOLUTIONS TO END-OF-CHAPTER QUESTIONS AND PROBLEMS PROBLEMS 1. Suppose that the treasurer of IBM has an extra cash reserve of $100‚000‚000 to invest for six months. The six-month interest rate is 8 percent per annum in the United States and 7 percent per annum in Germany. Currently‚ the spot exchange rate is €1.01 per dollar and the six-month forward exchange rate is €0.99 per dollar. The treasurer of
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economic arbitrage: both TCS and Haier exploited differences in labor costs between their home market and the U.S. How‚ if at all‚ does this fit with the idea developed in the context of the CAGE framework that similarities between countries tend to increase flows between them and differences tend to decrease cross-border flows? (No more than two paragraphs please). From the context of CAGE framework‚ TCS would fit as IT outsourcing candidate for US companies regardless the economic arbitrage due
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No-Arbitrage Bounds Relations between Puts and Calls Itô Refresher Appendix* Introduction Markus Leippold University of Zurich Chris Bardgett University of Zurich Elise Gourier University of Zurich Financial Engineering – September‚ 2012 Introduction 1 / 97 Historical Degression Setting the Stage No-Arbitrage Bounds Relations between Puts and Calls Itô Refresher Appendix* Outline 1 Historical Degression Setting the Stage No-Arbitrage Bounds
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report‚ we investigate if a 35 basis points yield spread represents mispricing of two bonds‚ both with the same maturity but one with a coupon rate of 10.625% and the other 4.25%. Our investigation also determines if the yield spread represents an arbitrage opportunity. In our investigation‚ we calculate the theoretical yield spread between the two bonds and compare the figure with the observed yield spread. It is cited in the case that the observed yield spread could be due to different liquidity premium
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physical palm oil until it is required in the physical market and they are traded in a directional market movement by buying low or selling high in a bullish market or vice versa in a bearish market. The availability of CPO futures provided the arbitrage opportunities from price discrepancies. There are few types of trading strategies with the CPO futures which including the hedging with CPO futures‚ speculating with CPO futures and arbitraging with CPO futures. Hedging is usually used by
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risk of the financial instrument. The general idea of the APT The APT‚ or the Arbitrage Pricing Theory was born as an alternative to CAPM. Many are not satisfied with the assumptions that are made in the model of the CAPM‚ and in 1976‚ Yale University professor Stephen Ross developed his theory‚ built only on arbitrage arguments. In order to understand the APT‚ we have to know what is the arbitrage. Arbitrage – the exploitation of security mispricing in such a way that risk-free economic profits
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Chapter 10 Arbitrage Pricing Theory and Multifactor Models of Risk and Return Multiple Choice Questions 1. ___________ a relationship between expected return and risk. A. APT stipulates B. CAPM stipulates C. Both CAPM and APT stipulate D. Neither CAPM nor APT stipulate E. No pricing model has found Both models attempt to explain asset pricing based on risk/return relationships. Difficulty: Easy 2. ___________ a relationship between expected return and risk. A. APT stipulates
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