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  1. superpocoyo

    zero-beta CAPM

    Hi, I do not understand why zero-beta CAPM do not has all investors holding the same portfolio in equilibrium? Can anyone help on this? Thanks Melody
  2. superpocoyo

    Q&A Appendix

    Hi David, Do we need to go through Q&A Appendix (page 26 to 63) for P1.P1.T1? It is discontinued as of the 2013 FRM, not relevant to this year FRM level 1 exam? Thanks Melody
  3. superpocoyo

    Jorion's Definition of "Financial Risk"

    Hi David, Q&A P1.T1.1. What is Risk on page 27, "Note: an arguable weakness of Jorion's definition is that volatility includes upside movements. But risk is generally only concerned with "left-tail" losses; e.g. VAR is always one-tailed (VaR is always 1.645 normal deviates at 95% confidence and...