财务管理ch04秘风险和报酬.pptVIP

Chapter 4 Risk and Return 风险与报酬 Dollar Returns Total dollar return = income from investment + capital gain (loss) due to change in price Example: You bought a bond for $950 1 year ago. You have received two coupons of $30 each. You can sell the bond for $975 today. What is your total dollar return? Income = Capital gain = Total dollar return = Percentage Returns It is generally more intuitive to think in terms of percentages than dollar returns Dividend yield = income / beginning price Capital gains yield = (ending price – beginning price) / beginning price Total percentage return = dividend