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Passed L2. Q2 Q1 Q1 Q2 Q2 Thanks for your hard practice question sets. They really served me well for the exam. I won't be truthful if I say I thoroughly enjoy answering these disconcertingly hard questions, but I am sure glad I endure the probe of your ego-puncturing problem sets. Thanks...

Hi Everyone: In the attached, I show how Grinold's "tracking error" is consistent with that of Litterman's. Specifically, I show that their definitions of portfolio variance are equivalent. This simple proof is useful to those trying to reconcile the notations between the two authors. For...

Hi David: I have read through a few threads on this topic and know that you favor Grinold's definition of IR. I too like his rigorous mathematics (I found only two typos in his first 6 chapters). But I am now leaning towards Jorion's definition. Please see my reason in the attached...

Hi David: I was wondering about this myself. I am going out on a limb here because I am not an expert. So please feel free to correct me. I think ktm maybe referring to current coupon rate (CCR) in the context of fair loan condition (Tuckman, pages 460, 466). There are similarities as...