Principles of Finance · 免费预览
单项资产的风险与收益
单项资产的表现用持有期收益率衡量，其典型收益率用均值衡量，其风险用标准差衡量；而无风险利率与风险溢价则定义了为每一项风险索取权定价的补偿结构。
1. The holding period return
The holding period return
2. Return and risk together
Return and risk together
3. The risk-free rate and the benchmark
The risk-free rate and the benchmark
4. The reward for waiting versus the reward for risk
The reward for waiting versus the reward for risk
5. Computing the HPR
A share is bought for 50 dollars, sold a year later for 55 dollars, and paid a 2 dollar dividend during the year. What is the holding period return?
6. The two ingredients of stock return
Which pair makes up a stock's holding period return?
7. Excess return defined
An asset returns 12 percent while Treasury bills yield 4 percent. What is the excess return, and what does it measure?
8. Waiting versus risk rewards
Why is distinguishing the reward for waiting from the reward for risk analytically important?
9. Risk as surprise
Why is standard deviation, based on squared deviations from the mean, a sensible risk measure for financial returns?
10. Annualizing spans
Why must holding period returns be annualized before comparing investments held for different spans?
11. The excess return's other name
What two-word term names the difference between a risky asset's expected return and the risk-free rate? Answer in lowercase.
12. The zero-risk benchmark asset
What three-word Treasury instrument, maturing in under a year, defines the risk-free rate in practice? Answer in lowercase.
13. The return atom's abbreviation
What three-letter abbreviation names the single-period return combining price change and income? Write the abbreviation.
14. The reward for waiting
What rate, paid by the safest short-term government borrowing, compensates an investor for waiting alone? Answer with three words.