CH4 Risk and Return.pdf - nnnnnnnnnnnnnnn 44nnn 44n4nnnn4 1...

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nnnn nnn nnnnnn 44nnn 44n4nnn 4
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nnnn nnn nnnnnnn nn4 nnnnn 4n n4n nnnn n4nn 1 } . . .. .. } . . . . . } . . . .. . .. . . . uuuuuuuuuu uuuuuuuuuuu uuuuu uuuu
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nnnnnnn n4n snnnnn 2 } . .. . . . .. . . . . . . .) } s . . ss ) .. . } } RRR t ss . . t } R .. . t } FF t . . . t } R t11 . t11 } . . ss 1 1 - - - + = t t t t t P P FF P RPR uuuuuuuuuu uuuuuuuuuuu uuuuu uuuu
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s n4n4sn 4n nnnss 44nnnn 3 } . . . BnZr`#@###BnZrBnZr`#@### . ss BnZr`#@###BnZr } . s ss . . . . . . RRRRRRPR t = P t + FF t P t - 1 = 1 + RPR t ((( RRRRRRPR t ) uuuuuuuuuu uuuuuuuuuuu uuuuu uuuu
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s 0 000.00 s 0 000.00 D 0 0.00 sn n4n nnnn 4n nnnnsnnn: :4nn nnnnssn:nnnnn sn nenn4sn RPR 1 = 110 + 0000 - 100 100 = 00100 = 1000% RRRRRRPR 1 = 10100 ((( RRRRRRPR 1 ) = 0011888 4 uuuuuuuuuu uuuuuuuuuuu uuuuu uuuu
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sn n4n n44n 4n nnnnnnnn n4n nnnnennnn nnnnnnnn nnnn } . ) . . . . . . } . . . . . . . . . . . .. . . . . . ). } . . . . ) .. . .. . . . . . . .. . . .. . . . . .. } . . . . ... . ... . 5 uuuuuuuuuu uuuuuuuuuuu uuuuu uuuu
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4nn nnnsnnnnnn n4nn nn n4nsn nnnnnn n4n n nnnnennnn nnnnnnnn nnnn? 6 } . . . ) } ) . . ) } s . .. . ± .. . } ) . . . . .. . . . . . uuuuuuuuuu uuuuuuuuuuu uuuuu uuuu
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44nnnnnn n4n44nnnnn n4 n nnnnnsnennnn nnnnnnnn nnnn } . . .. .. . } . . . 0... . . . } s. . . . . . ? 7 uuuuuuuuuu uuuuuuuuuuu uuuuu uuuu
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e4nnnns ennnnn nnns nnnnnnnn nnnn } . . . 000 . .. . 00. . . } . s . . . . ss). è . ss) 00. 0.00. 000. .. .. . 0. . . ss 8 uuuuuuuuuu uuuuuuuuuuu uuuuu uuuu
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nnns nnn n4nnnns nnnnn } . } .. eeeeeee eeeeeeee eeee . s . . D . R } 0... . . . D . I } 0. . eeee eeeeeeee eeee . s . . D . r 9 uuuuuuuuuu uuuuuuuuuuu uuuuu uuuu
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n4n nnn4nn nnnnnn4n i R R + + = + 1 1 1 nuuuuu uuuuunuuuuuuu u i R R + » 10 u uuu uu uuuuuu uuuu uuuu uu uuuuu uuuuuuuuuuuu u uuu uu uuuuuu uuuBnZr`#@### uuuuuuBnZr`#@### uu BnZr`#@###uBnZr`#@###BnZruu u uuuu uu uuuuuuu uuuuuuBnZr`#@### BnZr`#@###uuu uu uu uuuuuu uu uuu uuuuuuuu. uuuuuuuuuu uuuuuuuuuuu uuuuu uuuu
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nn4nnnnns nennnnnnn nnnnnnnn nnnnn nnn nnnsnnn4n 11 ( )u uuu 4.2 1960)2012) uuuuuuuuuu uuuuuuuuuuu uuuuu uuuu
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nnnnnnnn nnnnn nnn nnnnnnn 12 } . ... . . . ... .. .. . .. . . } s . . . . . .. . . ... .. . . .. . . .. uuuuuuuuuu uuuuuuuuuuu uuuuu uuuu
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