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Hi, sorry for being a bit pedantic, but I am not quite sure whether the answer to P1.T2 BT 300.2 is right. If the PDF describes the distribution of potential paybacks, the 5% quantile is 1.842 and the nominal value is $5, wouldn't the 5% VaR be - (1.842 - 5) = 3.158? Regards Thomas

Thanks, David. Have a beta? :-)

The Stutz paper is on the GARP website for free, in case you are still looking for it.

Hi, maybe I missed some essential document - but I simply do not get where to start. When I go into the study planner, I see this massive list of videos, questions, papers, etc. But they do not appear in any particular order. Clicking the calendar only shows me that I am two weeks late to...

The merger is actually an acquisition of GV by LM, using shares. You get 1 share of LM per 3 shares of GV, hence the price of LM should be 3 times the price of GB. As it is lower, you buy LM and short GV.