羊府养鱼

老婆/女朋友在身边的爷们儿们，

同情下我现在的孤家寡人处境吧

上上个星期，拉肚子一周

上个星期，感冒一周

这个星期，嗓子肿早上起不来一周

近期生活：白天工作，晚上办公室看书等到8点地铁人少再走

每周一次网球

不时和袋鼠叔叔喝酒

总体感觉生活质量没有什么提高

身体各项机能有明显退化

是不是得aids了我？

The current spot rates for borrowing and lending at maturities of one to four years are given in the Table below.
Maturity Spot rate
1 4.5%
2 4%
3 4.5%
4 4.75 %
Forward interest rates are dened as rates agreed upon today for borrowing or lending between two specic future dates. Thus, for example, we might today agree terms for borrowing/lending during the period between one and two years from today
(a) Using the data above and an absence of arbitrage argument, derive the forward rate for borrowing/lending between one and two years from today.[Hint: to derive this forward rate compare the following pair of strategies.The first entails investing $1 for two years at the two-year spot rate. For the second, you invest $1 for one year at the one year spot rate and then invest the proceeds at the forward rate for lending between one and two years from today. Given that all of the rates used in these calculations should be known as of today, both investments are risk-free.]
(b) Similarly, derive the forward rate for borrowing/lending between two and three years from today.
(c) If the market forward rate for two to three years from today was at 5%,design a trading strategy that guarantees an investor a risk-less profit.

 

answer:

calculating:
forward rate 1,2	3.50%
forward rate 2,3	5.51%

 

calculating

because 5%<5.51%,so we should try to borrow at 5% and loan at 5.51% to realize a risk-free arbitrage

 

stragety of arbitrage	year0	make 100£ loan of 3 years at 4.5%(sopt rate of 3 years)
	year0	year0:borrow 100£ for 2 years at 4%(sopt rate of 2 years)
	year0	borrow 108.16 £ for 1 years at 5%(market forward rate from year 2 to year 3) in order to pay the 2 years borrow

.

year	cash flow
0	0	100(borrow of 2 years)-100(loan of 3 years)
1	0
2	0	108.16(borrow at 5%)-108.16(pay the 2 years borrow)
3	0.5486125	114.1166(proceeds of 3 years loan)-113.568(pay the forward bowrrow of 1 year at year2)

 

from now on,i will try to write sth frequently to let my girl friend and other dear friend

know me well.i hope i can hold on for at least 10 months.
yesterday, i came back from chongqing at 2:00 am.but i still go to work in morning.(what a

good employee!)
it is so tired to go to 3 cities in a week,especially that guiyang,chengdu and chongqing are almost the same.people of there like going out at

nite.i haven't found as many beauties at chengdu&chongqing as friends told me,i am sure it is because i miss my gf so much.
tonight,i play tennis agian,it is so interesting and may help me to loose some weight.in my pan,i will try to play tennis at least once a week.
it is almost 3 weeks that i haven't looked my cfa curriculums.i am a little worried again.hurry up or fail,obvious choice.
nite friends and have a good supper my little tail.

1.我大学一哥们回家省亲了！
大学同一寝室的北京哥们，去澳大利亚两年了，今年暑假回家学车了！
2.我给导师写的课题初稿快写完了！
一篇名为《存款保险与金融生态圈》的论文就要完成初稿了，大概15000字，说实话，内容有些空洞乏味
3.我高中一哥们就快当大夫了
经过百般周折，我高中一哥们就要去市立医院从事医生职业，据他说，他的下一个目标是“药剂师”，这样才能用自己的名字开处方
4.我感觉我失败了
现在天天运动，踢球、跑步、游泳或仰卧起坐，吃的很少，但是仍然没有瘦
5.bp同志要当老板了
亲爱的bp同志想到一个主意，准备自己做个小生意赚点钱，最后还要REITS一下，拉我入“股”。不过这人的主意一般成型的不多
6.我继续写论文了
88~

08年毕业,很有可能会留在上海

房子问题回避不了,不妨大家一起讨论讨论

 

综合市面情况,主要有这么几种可能:

1.租房先住

2.父母负首付,自己还

3.家里确实有钱,一步到位

 

基于一个传统的中国人的想法,我觉得房子确实很重要.

租房付租金......不爽

还是直接买,分期还款感觉好

但是首付哪里来

吃奶的劲使出来,七拼八凑,七大姑八大婶地借钱......ms唯一的解决办法

到时候要是有银行愿意给我全额贷款......那就好了

 

第一个房子不用太奢华,70平足矣,以后再换

多余的房间还能出租,当下资本家,呵呵

父母来了也能有地方住

 

总之,这是个棘手的问题.但现在老想这些还早了点

还是先睡觉克服晚上失眠来得重要

 

最近接触太多老外的缩写

sml

fra

swap

rae

hpy

imm

bba

等等等等

我也发明一个简单的缩写,大家谁第一个说对了,让我干什么我干什么