itstoohot Wrote: ------------------------------------------------------- > actuaryalfred Wrote: > -------------------------------------------------- > ----- > > net-of-fee lower gross-of-fee lower anyone? > > > i said both lower, but it was just a guess for the > net-of-fee part lower lower - both net and gross of fees are after direct trading expenses. The difference is net is also after management fees. So if trading exepenses increased, both would be lower.
itstoohot Wrote: ------------------------------------------------------- > actuaryalfred Wrote: > -------------------------------------------------- > ----- > > net-of-fee lower gross-of-fee lower anyone? > > > i said both lower, but it was just a guess for the > net-of-fee part What were they asking for in this question - could someone jog my memory? I kinda remember thinking both net and gross have trading expenses deducted… but that’s all remember about the question.
for the countries question, how come we can’t borrow in Singapoor?
CFAAtlanta Wrote: ------------------------------------------------------- > itstoohot Wrote: > -------------------------------------------------- > ----- > > actuaryalfred Wrote: > > > -------------------------------------------------- > > > ----- > > > net-of-fee lower gross-of-fee lower anyone? > > > > > > i said both lower, but it was just a guess for > the > > net-of-fee part > > > What were they asking for in this question - could > someone jog my memory? I kinda remember thinking > both net and gross have trading expenses > deducted… but that’s all remember about the > question. need to adjust the trading expenses something like that
comp_sci_kid Wrote: ------------------------------------------------------- > PJStyles Wrote: > -------------------------------------------------- > ----- > > I put Japan and Japan back to back… Thought > it > > was Japan for the 1st one because the hedged > > return is just the difference in the bond yield > > and the cash rate… Only Japan and 1 other > > country had a positive spread (bond yield - > cash > > rate). > > jap, jap, uk That’s what I got too! Coming from you, that must be a good sign 
lol
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PJStyles Wrote: ------------------------------------------------------- > comp_sci_kid Wrote: > -------------------------------------------------- > ----- > > PJStyles Wrote: > > > -------------------------------------------------- > > > ----- > > > I put Japan and Japan back to back… Thought > > it > > > was Japan for the 1st one because the hedged > > > return is just the difference in the bond > yield > > > and the cash rate… Only Japan and 1 other > > > country had a positive spread (bond yield - > > cash > > > rate). > > > > jap, jap, uk > > That’s what I got too! Coming from you, that must > be a good sign lol given that i redid this question twice, i am sure i am right
…
comp_sci_kid Wrote: ------------------------------------------------------- > PJStyles Wrote: > -------------------------------------------------- > ----- > > comp_sci_kid Wrote: > > > -------------------------------------------------- > > > ----- > > > PJStyles Wrote: > > > > > > -------------------------------------------------- > > > > > > ----- > > > > I put Japan and Japan back to back… > Thought > > > it > > > > was Japan for the 1st one because the > hedged > > > > return is just the difference in the bond > > yield > > > > and the cash rate… Only Japan and 1 other > > > > country had a positive spread (bond yield - > > > cash > > > > rate). > > > > > > jap, jap, uk > > > > That’s what I got too! Coming from you, that > must > > be a good sign lol > > > given that i redid this question twice, i am sure > i am right -2 for me, but still trying to figure out how come we cant borrow in Singapoor at 2.5% riskfree rate and invest in UK …
comp_sci_kid Wrote: ------------------------------------------------------- > PJStyles Wrote: > -------------------------------------------------- > ----- > > comp_sci_kid Wrote: > > > -------------------------------------------------- > > > ----- > > > PJStyles Wrote: > > > > > > -------------------------------------------------- > > > > > > ----- > > > > I put Japan and Japan back to back… > Thought > > > it > > > > was Japan for the 1st one because the > hedged > > > > return is just the difference in the bond > > yield > > > > and the cash rate… Only Japan and 1 other > > > > country had a positive spread (bond yield - > > > cash > > > > rate). > > > > > > jap, jap, uk > > > > That’s what I got too! Coming from you, that > must > > be a good sign lol > > > given that i redid this question twice, i am sure > i am right Sweet! Now if only I can get some of my ethics questions that I guessed on to be right.
If I wanted to perform a reverse cash and carry, what would be the two steps?
long forward short sell copper?
this is what I wrote, but now I think about it, it might be long forward then when it is delivered, sell at the spot market??? actuaryalfred Wrote: ------------------------------------------------------- > long forward short sell copper?
actuaryalfred Wrote: ------------------------------------------------------- > long forward short sell copper? reverse cash and carr 1) short sell 2) long forward 3) invest at rfr
actuaryalfred Wrote: ------------------------------------------------------- > long forward short sell copper? Is that how it is done (that is what I put as well). If I was to do this, what would my profit be?
right, certainly need to buy bonds instead of putting it in a safe
I thought they only asked for two steps - short forward and invest at RF?
That’s three components!!! well, I only got the long forward part right I also got the non-arbitrage price range increases comp_sci_kid Wrote: ------------------------------------------------------- > actuaryalfred Wrote: > -------------------------------------------------- > ----- > > long forward short sell copper? > > reverse cash and carr > > 1) short sell > 2) long forward > 3) invest at rfr
> 4.35 yes ------------------------------------------------------- > net-of-fee lower gross-of-fee lower anyone? both lower > PJStyles Wrote: > -------------------------------------------------- > ----- > > I put Japan and Japan back to back… Thought > it > > was Japan for the 1st one because the hedged > > return is just the difference in the bond yield > > and the cash rate… Only Japan and 1 other > > country had a positive spread (bond yield - > cash > > rate). Japan, Japan, UK borrower quality Level III candidate and passed Level II both correct CFAAtlanta Wrote: ------------------------------------------------------- > Mod Dietz 3.3% TWR 4.5% > > I f up the currency returns on Singapore dollar > question… didn’t notice it was not local > currency. TWR - 3.3% Mod Dietz - 4.5%. Mod Dietz will yield higher return potentially that’s why GIPS required TWR after some time in future (2010?) 2.86%
Road2CFA Wrote: ------------------------------------------------------- > > 4.35 > yes > > -------------------------------------------------- > ----- > > net-of-fee lower gross-of-fee lower anyone? > > both lower > > > PJStyles Wrote: > > > -------------------------------------------------- > > > ----- > > > I put Japan and Japan back to back… Thought > > > it > > > was Japan for the 1st one because the hedged > > > return is just the difference in the bond > yield > > > and the cash rate… Only Japan and 1 other > > > country had a positive spread (bond yield - > > cash > > > rate). > > Japan, Japan, UK > > borrower quality > > Level III candidate and passed Level II both > correct That is what i got > > CFAAtlanta Wrote: > -------------------------------------------------- > ----- > > Mod Dietz 3.3% TWR 4.5% > > > > I f up the currency returns on Singapore dollar > > > question… didn’t notice it was not local > > currency. > > TWR - 3.3% Mod Dietz - 4.5%. Mod Dietz will yield > higher return potentially that’s why GIPS required > TWR after some time in future (2010?) > > 2.86% That is what i got too