问题如下图：
选项：
A. 
B. 
C. 
解释：
讲解和答案不符，讲解看应该选B，我选了B，显示错误。
NO.PZ2015121802000042 问题如下 A stowith beta of 0.5 is selling for $30 anp$4 vinyeen if the prishoul$32 yeen The stois unrvalueor overvalue Assuming the risk-free rate is 8%, expectemarket return is 16%. A.The sotis unrvalue investor shoulbuy it. B.The stois overvalue investor shoulshort it. C.The sotis fairly value investor shoulbuy it. A is correct.Expectereturn on CAPM = 8 + 0.5(16 - 8) = 12%Estimatereturn on sto= (32 - 30 + 4) / 30 = 20%The estimatereturn is higher thexpectereturn on CAPM, incating ththe stois unrvalue investor shoulbuy it. 不是很理解market expereturn和CAPM计算出来的return分别是什么？market expereturn不是市场上大家认为的收益率么？如果大家认为应该值的更高（market expereutrn更大），那不就是股票被低估吗？怎么答案跟我想的相反
NO.PZ2015121802000042问题如下 A stowith beta of 0.5 is selling for $30 anp$4 vinyeen if the prishoul$32 yeen The stois unrvalueor overvalue Assuming the risk-free rate is 8%, expectemarket return is 16%.A.The sotis unrvalue investor shoulbuy it.B.The stois overvalue investor shoulshort it.C.The sotis fairly value investor shoulbuy it.A is correct.Expectereturn on CAPM = 8 + 0.5(16 - 8) = 12%Estimatereturn on sto= (32 - 30 + 4) / 30 = 20%The estimatereturn is higher thexpectereturn on CAPM, incating ththe stois unrvalue investor shoulbuy it.这里那个百分之二十是用 holng perioreturn 的公式算出来的是吗？
NO.PZ2015121802000042 问题如下 A stowith beta of 0.5 is selling for $30 anp$4 vinyeen if the prishoul$32 yeen The stois unrvalueor overvalue Assuming the risk-free rate is 8%, expectemarket return is 16%. A.The sotis unrvalue investor shoulbuy it. B.The stois overvalue investor shoulshort it. C.The sotis fairly value investor shoulbuy it. A is correct.Expectereturn on CAPM = 8 + 0.5(16 - 8) = 12%Estimatereturn on sto= (32 - 30 + 4) / 30 = 20%The estimatereturn is higher thexpectereturn on CAPM, incating ththe stois unrvalue investor shoulbuy it.
NO.PZ2015121802000042问题如下A stowith beta of 0.5 is selling for $30 anp$4 vinyeen if the prishoul$32 yeen The stois unrvalueor overvalue Assuming the risk-free rate is 8%, expectemarket return is 16%.A.The sotis unrvalue investor shoulbuy it.B.The stois overvalue investor shoulshort it.C.The sotis fairly value investor shoulbuy it.A is correct.Expectereturn on CAPM = 8 + 0.5(16 - 8) = 12%Estimatereturn on sto= (32 - 30 + 4) / 30 = 20%The estimatereturn is higher thexpectereturn on CAPM, incating ththe stois unrvalue investor shoulbuy it.expectereturn 为什么不能用PV0=/R来算？ 折现率的R不是expectereturn吗 谢谢
NO.PZ2015121802000042问题如下A stowith beta of 0.5 is selling for $30 anp$4 vinyeen if the prishoul$32 yeen The stois unrvalueor overvalue Assuming the risk-free rate is 8%, expectemarket return is 16%.A.The sotis unrvalue investor shoulbuy it.B.The stois overvalue investor shoulshort it.C.The sotis fairly value investor shoulbuy it.A is correct.Expectereturn on CAPM = 8 + 0.5(16 - 8) = 12%Estimatereturn on sto= (32 - 30 + 4) / 30 = 20%The estimatereturn is higher thexpectereturn on CAPM, incating ththe stois unrvalue investor shoulbuy it.老师帮忙看一下嗷，这个逻辑我没太理清楚，但我已经记住正确答案了
