Investment Analysis

active management analysis Answers to Problems asset class average basis points benchmark beta calculated call option callable bond capital CAPM cash flows common stock correlation coupon decline diversified dividend earnings efficient market hypothesis equity exchange rate expected return expiration factors firm forward contract fund futures contract FVIFA growth rate hedge higher immunization income increase indicates industry inflation interest rates investment horizon investor LIBOR liquidity long position margin market portfolio market price market value measure million modified duration NYSE payments payoff payout percent performance period portfolio manager present value price changes price of $50 profit purchase put options put-call parity rate of return ratio reinvestment relative required rate required return result risk-free rate securities sell shares standard deviation stock prices strategy strike price Student Exercise swap swaption systematic risk T-bills trading transaction costs Treasury variable volatility yield curve yield to maturity