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Okay thank you. However, I wonder if we should insert a single-page graphical "introduction" instruction set as the very first item in the SP ...

@adamglatt (cc @Nicole Seaman ) are the introductory instructions not clear? I admit I have not reviewed recently the email that new subscribers receive, but maybe it needs to be improved for clarity? We want the introduction to be as painless as possible. @Nicole can you comment, ayc? Thank you,

Hi @eva maria FYI, This is not my question, it is Miller's end of chapter Q&A (we include author EOC questions to be as helpful as possible). Although GARP assigned the chapter, and therefore the EOC questions are relevant, I wouldn't write a question like this .... If I get a chance today...

@adamglatt where in the video, what are you talking about? I see that I make reference to the "in this brief video, I am not going to review any of the assigned readings ..." "Assigned readings" is a reference to GARP's FRM assigned readings in the Study Guide (and Learning Objectives), the...

@adamglatt the first video is an introduction. See below. Study Notes are after the Question Set, under each reading

Hi @adamglatt They are organized in the Study Planner (see link at top) https://learn.bionicturtle.com/frm-study-planner/ Then by topic; e.g., https://www.bionicturtle.com/courses/foundations-of-risk-management/ Can you see? Thanks,

Hi @evelyn.peng The learning spreadsheet at https://learn.bionicturtle.com/topic/hull-chapters-13-15-19/ contains two sheets: BSM (Hull 15.6): this is the exhibit on page 23, but with different inputs (in yellow) BSM (Hull 15.9): this appears to match the exhibit on page 38 I changed the...

@JulioFRM Yes, thank you! I edited this but missed that. Indeed, the second occurrence should read For λ > 0, ρ(X) = λρ(X) ... as positive homogeneity only invokes one variable. Thank you!

Hi @eva maria That wasn't me, as explained i think in the linked discussion, I tend to prefer here a visual/intuitive approach (which is a matter of style). Shakti's solution is mathematically elegant, he didn't strictly type his parens but to be honest I think it helps to go with the flow...

Hi @eva maria in the uniform distribution, c = f(x); i.e., the height of the rectangle that visualizes the probability density function (pdf). The uniform is a rectangle that starts at b1 with immediate height equal to c = f(x) then is a horizontal line to b2. So it's area, which must equal 100%...

Hi @FlorenceCC I don't perceive that you've missed anything here, your logic looks solid to me! My illustrate example is extreme which maybe doesn't help. The components of total return on futures contract = spot return + roll return + collateral return (i.e., the cost of carry as represented by...

Hi @FlorenceCC Yes, I agree with everything you posted. :) Re: our notes reading "if you own physical gold directly: you forgo a 'lease rate'," I do agree that it's a fair criticism that this is imprecisely expressed. It should say something like, "If I hold the gold physically, then I incur the...

@umerkhan if by "regular" formula for variance, you are referring to σ^2(Y) = E(Y^2) - [E(Y)]^2, then the two versions are compatible but the E(Y) versions refers to the population variance. The sample variance will estimate the population variance, but it does not know the distribution...

@Karim_B is exactly right about the quartile outcomes that are reported with the results: they are meant to inform, but it's only the total score that counts. In a previous thread (see https://forum.bionicturtle.com/threads/quartiles-and-weights-exam-results.9883/#post-45570 ), I illustrated...

@ashutoshg Yes, you are correct that the floating rate bond (with six month payment frequency) will price to par (assuming the discount rate is the same as swap's floating rate, an assumption Hull moves away from in the current edition, btw) at t = 0, T = 0.5 years, t = 1.0 years, etc. If we are...

Hi @gprisby This (older) question suffered the imprecision/confusion created by conflicting authors in the syllabus. As noted here (https://forum.bionicturtle.com/threads/information-ratio-definition.5554/ ) we subsequently got GARP to settle on "ratio consistency" with respect to IR. As a...

HI @ashutoshg No, there is no sectional cutoff: the result is based on the overall only. Please see this post (https://forum.bionicturtle.com/threads/quartiles-and-weights-exam-results.9883/#post-45570) where it is illustrated how "sectional" outcomes can be counter-intuitive precisely because...

Hi Greg (@gprisby ) Years ago, we did include that section, but they aren't "recently developed" anymore, given this reading is 15 years old (e.g., I'm a Morningstar subscriber and they have updated their methodology in the meantime as you might expect). But that's not the reason we stopped...

@mssnal it seems to be loading fine for me (fwiw), i'm logged in

Hi @evelyn.peng this is found in the learning XLS workbook associated with the assigned reading, see https://learn.bionicturtle.com/topic/learning-spreadsheet-allen-chapters-2-3/ ... but just in case, here is the specific worksheet...