合肥工业大学财务管理原理双语课件Chapter5 risk and return.pptVIP

chapter 5 Chapter 5: risk and return Study objectives Defining risk and return Using probability distributions to measure risk Attitudes toward risk Risk and return in a portfolio context Diversification The Capital-Asset Pricing Model Efficient Financial Market What does it mean? Risk is like pornography. It’s hard to define, but you know it when you see itJohn Wachowicz 1.Defining Risk and Return The return from holding an investment over some period is simply any cash payments received due to ownership, plus the change in market price, divided by beginning price R=[Dt+(Pt-Pt-1)]/PT-1 Risk: