CFA一级数量冲刺宝典节选(2016年).pdfVIP

Quantitative Methods I ． Quantitative Methods 2 1. The Time Value of Money2 1.1 Interest Rates: Interpretation 2 1.2 The Future Value of A Single Cash Flow 2 1.3 The Future Value of A Series of Cash Flows 3 1.4 The Present Value of A Single Cash Flow 4 1.5 The Present Value of A Series of Cash Flows 4 1.6 Solving for Rates, Number of Periods, or Size of Annuity Payments 4 2. Discounted Cash Flow Applications 5 2.1 Net Present Value and Internal Rate of Return 5 2.2 Portfolio Return Measurement 6 2.3 Money Market Yields 7 3. Statistical Concepts and Market Returns 8 3.1 Some Fundamental Concepts8 3.2 Summarizing Data Using Frequency Distributions 9 3.3 The Graphic Presentation of Data 9 3.4 Measures of Central Tendency 9 3.5 Other Measures of Location: Quantiles 11 3.6 Measures of Dispersion 11 3.7 Symmetry and Skewness in Return Distributions 13 3.8 Kurtosis in Return Distributions 13 1 / 14 I ． Quantitative Methods 1. The Time Value of Money 1.1 Interest Rates: Interpretation  An interest rate, denoted r, is a rate of return that reflects the relationship between differently dated cash flows.  利率可以从以下三个方面进行理解:  Opportunity costs 机会成本: 投资人选择某一特定投资行为所放弃的其他价值。  Discount rates 折现率: 用来将未来的现金流折现以确定其今天的价值。We use the terms “interest rate” and “discount rate” almost interchangeably.  Required rates of return 必要回报率: 投资者接受某一投资所需要的最小回报率。