If 1 - recovery rate = payout ratio and 1 - recovery rate = loss given default then payout ratio = loss given default?
Make the most of your CFA exam prep in one weekend! Join renowned instructors, Peter Olinto, Darren Degraaf & David Hetherington in May for a live, two-day CFA intensive final review class.
Study together. Pass together.
Join the world's largest online community of CFA, CAIA and FRM candidates.