量化投资经典参考书《Active Portfolio Management》第二版习题答案，全网首发！供各位学习交流。

Credit to Hestand & Williams.

Solutions to the problems in Active Portfolio Management (Second Edition) by Grinold and Kahn. There may be some errors.

Solutions to main chapter exercises: Nicholas J. Hestand.

Solutions to exercises in technical appendices: Nicholas J. Williams.