Predictions and applications CAPM: in market equilibrium, investors are only rewarded for bearing the market risk; APT: in the absence of arbitrage, investors are only rewarded for bearing the factor risk Applications: ---professional portfolio managers: evaluating security returns and

Consumption-Based Model and Basic Pricing model Basic question to decide for an investor: (1) how much to save; (2)how much to consume; (3)what portfolio of assets to hold. Pricing equation come from the first order condition for this decision

清华大学：《投资学》PPT教学课件_第13章 股票的估值

Outline MM ean-variance analysis; ean-variance analysis and utility maximization; Does high moment matter?

清华大学：《投资学》PPT教学课件_第10章 股票价值的估计

清华大学：《投资学》PPT教学课件_第06章 证券定价理论

清华大学：《投资学》PPT教学课件_第09章 公司报表分析

清华大学：《投资学》PPT教学课件_第08章 宏观基本面分析

清华大学：《投资学》PPT教学课件_第02章 证券的发行

一、概述 （一） 概念： 通过对某些历史资料（成交价、成交量或成交额）的分析， 判断整个证券市场或某种证券的变化方向或程度的分析方法，给投资者提供买卖证券的信号