add 固定收益 and 资产定价 (QSCTech#66)

* add textbook

* add kao gang

very detailed

* add readme version

* remove unnecessary one

* add readme for textbook

* add homework 1

* not the final one

* add homework final version

* add readme

* add review

* Update README.md

* add readme

* add files

* add readme

* add file

* i add my names......

* add homework2

Author: QSCTech-Sange

固定收益证券与模型/README.md

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+# 固定收益证券模型复习
+
+神仙课 太难了 不想多说

固定收益证券与模型/复习/Fixed Income Securities Review.pdf

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+# 固定收益证券分析和模型复习
+
+内容只有前七章，剩下的还是要考的，可以参考 `cc98` 中的帖子。

固定收益证券与模型/复习/README.md

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+# 固定收益证券分析和模型考纲
+
+主要集中前七章，可以参考 `cc98` 中的帖子。

固定收益证券与模型/考纲/README.md

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+# 资产定价
+
+是门神仙课，太难了，而且老师不放讲义什么的。
+
+整理了很多资料希望能帮到学弟学妹们。往年题可以参考 `cc98` 上的东西。

固定收益证券与模型/考纲/固定收益证券模型考纲.pdf

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+# 资产定价作业
+
+这只记录了前两次的，也只是个人做的，不敢保证完全正确吧。感觉老师会换题目做。就当参考参考噜。

资产定价/README.md

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+# 资产定价复习
+
+整理了前面几章的内容
+
+**注意** 后面几章也是要考的。

资产定价/作业/Homework1.pdf

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+# 资产定价教材
+
+这本书错误非常多，要及时听老师改。

资产定价/作业/Homework2.pdf

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+# 资产定价考纲
+
+中心思想：没讲过就不考
+
+作业要考
+
+没讲解的作业也要考
+
+超出讲课范围的作业不考
+
+## Chapter 1
+
+VERY BORING 
+
+**No Test**
+
+## Chapter 2
+
+one-period model
+
+formulation
+
+payoff matrix
+
+rank of payoff matrix 
+
+economic meaning of the rank 
+
+when it’s complete or not
+
+state price
+
+How to draw the graph (short-selling)
+
+asset’s span   portfolio payoff
+
+No derivatives
+
+2.3 important
+
+Use **option** to complete the market (put call)
+
+## Chapter 3
+
+pricing one period model
+
+Three condition (NSA NA LOOP  and their relationship) （True of False）
+
+understand some counter examples
+
+3.3 linear function
+
+relationship between LOOP and evaluation functional and state price
+
+as did in Homework
+
+apply the fundamental theorem of finance to proposition
+
+don’t need to prove
+
+e.g. NA and positive state price 
+
+Be able to understand the existence of state price and unique pricing kernel
+
+geometric definition of pricing kernel (vector space, project)
+
+proposition 3 no proof , know the intuition next paragraph
+
+asset pricing formula      
+
+know how to **derive** formulas e.g. 等价鞅 risk neutral probability P45-46
+
+as in homework
+
+state-price beta model 在CAPM里测试
+
+No recover  state price
+
+## Chapter 4
+
+preference and utility theory
+
+risk priority
+
+SSD blablabla
+
+payoff by state to the probability lotteries
+
+mean-preserving spread
+
+FOSD SOSD P60 **derive** **Proof** 只要黑板推导的一遍
+
+> 书上没有 我还没记黑板
+
+Expected Utility Theory No Test
+
+except Jenson’s Inequality, certainty equivalence principle
+
+measure of risk aversion
+
+absolute   relative 
+
+CARA  CRRA
+
+when utility function invariant when you transform wealth, etc
+
+economic meaning of relative  and absolute risk aversion P67
+
+这段可以参考绿皮书  Chapter 9 就5页
+
+Portfolio Allocation
+
+be able to solve simple problems
+
+prove some simple implications
+
+P71 dynamic asset pricing **动态规划** 不要求欧拉公式的推导 
+
+但能给出原因 为什么代理人要precautionary savings
+
+## Chapter 5
+
+**derive** simple pricing equation P 78
+
+draw the graph 埃奇沃斯盒子
+
+一般均衡 不确定性
+
+可能的市场均衡点
+
+How do we show 禀赋随机
+
+**derive** algebra for Sharpe ratio and Hansen-Jagannathan Bound
+
+3-puzzles 用两三句简单的话和方程来说明Puzzle是什么
+
+资产溢价之谜
+
+资产波动之谜
+
+回报可预测性之谜
+
+Campbell-Shiller Decomposition 不要求数学 太复杂了 
+
+知道它的意思就行了 
+
+能回答为什么资产价格波动性和可预测性是同一回事
+
+
+
+## Chapter 6
+
+CAPM 
+
+P91
+
+solve minimal variance problem
+
+**derive** efficient frontier 
+
+draw the graph
+
+solve same problem with risk-free assets
+
+**derive**  the $\beta$  relations as well as CML SML
+
+(Capital Market Line & Security Market Line)
+
+on graph
+
+P95 
+
+> That’s all.