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灰飞翔的猫 · 2024年12月13日

股票的预期收益

  1. CFA I
  2. Portfolio

NO.PZ2015121802000041

问题如下：

A stock with beta of 1.5 is selling for $20 and pay $1 dividend at year end, if the price should be $21 at year end. The stock is undervalued or overvalued? Assuming the risk-free rate is 5%, expected market premium is 5%.

选项：

A.

The stock is undervalued, investor should buy it.

B.

The sotck is overvalued, investor should short it.

C.

The sotck is undervalued, investor should short it.

解释：

B is correct.

Expected return on CAPM = 5 + 1.5 * 5= 12.5%

Estimated return on stock = (21 - 20 + 1) / 20 = 10%

The estimated return is less than expected return on CAPM, indicating that the stock is overvalued, investor should short it.

如题，股票的预期收益不是21-20还要加上分红1块的么？为什么不加上分红？

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1 个答案

Kiko_品职助教 · 2024年12月13日

嗨，从没放弃的小努力你好：


Estimated return on stock = (21 - 20 + 1) / 20 = 10% 这不是加上分红了吗。

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努力的时光都是限量版，加油！

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