# Agent notebook

- [Amazon：2026-09-20业务状态与股东结果历史案例](https://ou-liu-red-sugar.github.io/agent/zh/amzn-research-20260920.md)
- [Amazon · AMZN：商品、平台与云服务](https://ou-liu-red-sugar.github.io/agent/zh/amzn.md)
- [资产负债表：全表结构与行业带读](https://ou-liu-red-sugar.github.io/agent/zh/balance-sheet.md)
- [企业的业务集合与经营过程](https://ou-liu-red-sugar.github.io/agent/zh/business-activities.md)
- [财务报告的组成与阅读地图](https://ou-liu-red-sugar.github.io/agent/zh/financial-report-map.md)
- [财报的期间、范围、币种与可比口径](https://ou-liu-red-sugar.github.io/agent/zh/reporting-periods-units.md)
- [权责发生与报表之间的联系](https://ou-liu-red-sugar.github.io/agent/zh/accrual-and-statement-links.md)
- [利润表：收入、成本与利润的层次](https://ou-liu-red-sugar.github.io/agent/zh/income-statement-layers.md)
- [现金流量表：经营、投资与筹资](https://ou-liu-red-sugar.github.io/agent/zh/cash-flow-statement.md)
- [权益变动、每股口径与股东所得](https://ou-liu-red-sugar.github.io/agent/zh/equity-shares-and-shareholder-claims.md)
- [财报附注、会计估计与审计信息](https://ou-liu-red-sugar.github.io/agent/zh/notes-estimates-and-audit.md)
- [收入、应收与合同余额](https://ou-liu-red-sugar.github.io/agent/zh/revenue-receivables-contract-balances.md)
- [存货、销售成本与减值](https://ou-liu-red-sugar.github.io/agent/zh/inventory-cogs-and-write-downs.md)
- [资本开支、在建工程与折旧](https://ou-liu-red-sugar.github.io/agent/zh/capital-expenditure-cip-and-depreciation.md)
- [租赁、使用权与付款义务](https://ou-liu-red-sugar.github.io/agent/zh/leases-right-of-use-and-payment-obligations.md)
- [无形资源、研发与商誉](https://ou-liu-red-sugar.github.io/agent/zh/intangible-resources-rd-and-goodwill.md)
- [所得税费用、现金税与递延税项](https://ou-liu-red-sugar.github.io/agent/zh/income-tax-provision-cash-and-deferred.md)
- [营运资本与现金周转](https://ou-liu-red-sugar.github.io/agent/zh/working-capital-and-cash-cycle.md)
- [单位经济、成本结构与经营杠杆](https://ou-liu-red-sugar.github.io/agent/zh/unit-economics-cost-structure-and-operating-leverage.md)
- [分部、合并范围与共同资源](https://ou-liu-red-sugar.github.io/agent/zh/segments-consolidation-and-shared-resources.md)
- [债务结构、偿付能力与流动性](https://ou-liu-red-sugar.github.io/agent/zh/debt-solvency-and-liquidity.md)
- [盈利质量、调整口径与比较](https://ou-liu-red-sugar.github.io/agent/zh/earnings-quality-adjustments-and-comparability.md)
- [再投资、融资与资本配置](https://ou-liu-red-sugar.github.io/agent/zh/reinvestment-financing-and-capital-allocation.md)
- [企业财报综合带读与迁移练习](https://ou-liu-red-sugar.github.io/agent/zh/integrated-company-financial-analysis.md)
- [看涨期权：到期收益与盈亏](https://ou-liu-red-sugar.github.io/agent/zh/call-payoff.md)
- [Expeditors International of Washington, Inc.](https://ou-liu-red-sugar.github.io/agent/zh/expeditors.md)
- [SVB Financial Group（历史报告对象）](https://ou-liu-red-sugar.github.io/agent/zh/svb-financial-group-historical.md)
- [条件期望：按已有信息分组平均](https://ou-liu-red-sugar.github.io/agent/zh/conditional-expectation.md)
- [经济活动、部门与产业结构](https://ou-liu-red-sugar.github.io/agent/zh/economic-activities.md)
- [经济与行业数据的口径](https://ou-liu-red-sugar.github.io/agent/zh/industry-data-definitions.md)
- [需求、客户行为与价格弹性](https://ou-liu-red-sugar.github.io/agent/zh/demand-price-elasticity.md)
- [供给、成本与有效产能](https://ou-liu-red-sugar.github.io/agent/zh/supply-cost-capacity.md)
- [产业链、投入产出与上下游联系](https://ou-liu-red-sugar.github.io/agent/zh/input-output-and-production-linkages.md)
- [行业边界、市场划分与竞争结构](https://ou-liu-red-sugar.github.io/agent/zh/industry-boundaries.md)
- [竞争、差异化与利润分配](https://ou-liu-red-sugar.github.io/agent/zh/competition-differentiation-profit.md)
- [进入、退出与产业资本投入](https://ou-liu-red-sugar.github.io/agent/zh/entry-exit-capital-formation.md)
- [库存周期、产能周期与结构变化](https://ou-liu-red-sugar.github.io/agent/zh/inventory-capacity-dynamics.md)
- [货币、信用与融资环境的传导](https://ou-liu-red-sugar.github.io/agent/zh/monetary-credit-transmission.md)
- [汇率、跨境经营与国际资金联系](https://ou-liu-red-sugar.github.io/agent/zh/exchange-rates-cross-border-business.md)
- [制度、监管与市场设计](https://ou-liu-red-sugar.github.io/agent/zh/institutions-regulation-market-design.md)
- [技术、创新与产业结构演变](https://ou-liu-red-sugar.github.io/agent/zh/technology-adoption-value-capture.md)
- [全球生产网络、贸易与产业布局](https://ou-liu-red-sugar.github.io/agent/zh/global-production-networks-and-trade.md)
- [行业指标、比较与证据选择](https://ou-liu-red-sugar.github.io/agent/zh/industry-metrics-evidence-selection.md)
- [行业分析综合带读：从结构到经营路径](https://ou-liu-red-sugar.github.io/agent/zh/industry-analysis-integrated-reading.md)
- [现代研究阅读：产能约束与通胀](https://ou-liu-red-sugar.github.io/agent/zh/research-capacity-constraints-inflation.md)
- [现代研究阅读：企业现金与利率传导](https://ou-liu-red-sugar.github.io/agent/zh/research-corporate-cash-rate-transmission.md)
- [金融资产、权利与经济事项](https://ou-liu-red-sugar.github.io/agent/zh/financial-claims.md)
- [Alphabet · GOOG：硬件的两种去向](https://ou-liu-red-sugar.github.io/agent/zh/goog.md)
- [发行、交易与市场参与者](https://ou-liu-red-sugar.github.io/agent/zh/issuance-trading-participants.md)
- [报价、订单与流动性](https://ou-liu-red-sugar.github.io/agent/zh/quotes-orders-liquidity.md)
- [清算、结算与抵押品](https://ou-liu-red-sugar.github.io/agent/zh/clearing-settlement-collateral.md)
- [股票与股东权利](https://ou-liu-red-sugar.github.io/agent/zh/stock-shareholder-rights.md)
- [债券的合约现金流与价格](https://ou-liu-red-sugar.github.io/agent/zh/bond-contract-cashflows-price.md)
- [债券利率、信用与期限风险](https://ou-liu-red-sugar.github.io/agent/zh/bond-rate-credit-term-risk.md)
- [基金、ETF与指数](https://ou-liu-red-sugar.github.io/agent/zh/funds-etfs-indexes.md)
- [货币、回购与汇率工具](https://ou-liu-red-sugar.github.io/agent/zh/money-repo-fx-tools.md)
- [远期与期货的合约结构](https://ou-liu-red-sugar.github.io/agent/zh/forward-futures-contracts.md)
- [每日结算与期货保证金](https://ou-liu-red-sugar.github.io/agent/zh/futures-variation-margin.md)
- [基差、持有成本与期限结构](https://ou-liu-red-sugar.github.io/agent/zh/basis-carry-term-structure.md)
- [到期、交割与展期](https://ou-liu-red-sugar.github.io/agent/zh/futures-expiry-delivery-roll.md)
- [互换与风险交换](https://ou-liu-red-sugar.github.io/agent/zh/interest-rate-swaps.md)
- [期权合约：谁拥有选择，谁承担义务](https://ou-liu-red-sugar.github.io/agent/zh/option-contract-rights.md)
- [到期支付、交易损益与回报分母](https://ou-liu-red-sugar.github.io/agent/zh/option-payoff-profit-return.md)
- [行权、指派与到期：账户究竟发生什么](https://ou-liu-red-sugar.github.io/agent/zh/option-exercise-assignment-settlement.md)
- [期权价格、内在价值与隐含波动率](https://ou-liu-red-sugar.github.io/agent/zh/option-price-intrinsic-implied-volatility.md)
- [Greeks：把局部导数变成带单位的风险](https://ou-liu-red-sugar.github.io/agent/zh/option-greeks-local-risk.md)
- [平价与合成：同样的支付，需要哪些现金腿](https://ou-liu-red-sugar.github.io/agent/zh/put-call-parity-synthetic-positions.md)
- [复制定价、状态价格与 Q：先把交易组合做出来](https://ou-liu-red-sugar.github.io/agent/zh/replication-state-prices-risk-neutral-probability.md)
- [波动率曲面与市场信息：从报价读到研究结论](https://ou-liu-red-sugar.github.io/agent/zh/volatility-surface-option-information.md)
- [市场有效性与信息处理：从公开事件到可检验的证据](https://ou-liu-red-sugar.github.io/agent/zh/market-efficiency-information-prices.md)
- [永续合约：没有到期日，价格为什么还会受到约束](https://ou-liu-red-sugar.github.io/agent/zh/perpetual-futures-funding-anchor.md)
- [线性与反向：同一价格变化，究竟在哪一种货币里赚钱](https://ou-liu-red-sugar.github.io/agent/zh/linear-inverse-contract-currencies.md)
- [标记价格、抵押品与强平：先找触发规则，再算余额](https://ou-liu-red-sugar.github.io/agent/zh/mark-price-collateral-liquidation.md)
- [稳定币：储备、赎回权与今天能收到的钱](https://ou-liu-red-sugar.github.io/agent/zh/stablecoin-reserves-redemption.md)
- [代币化资产：记录变了，权利和交收的哪一部分也变了](https://ou-liu-red-sugar.github.io/agent/zh/tokenized-assets-programmable-settlement.md)
- [自动做市：沿报价曲线交换，怎样算实际得到多少](https://ou-liu-red-sugar.github.io/agent/zh/amm-concentrated-liquidity.md)
- [投资目标、期限与可用资金](https://ou-liu-red-sugar.github.io/agent/zh/investment-objectives-funding.md)
- [持有期回报与资金基数](https://ou-liu-red-sugar.github.io/agent/zh/holding-period-returns.md)
- [风险、损失与情景](https://ou-liu-red-sugar.github.io/agent/zh/risk-loss-scenarios.md)
- [从校准业务关系到共同经营情景](https://ou-liu-red-sugar.github.io/agent/zh/calibrated-business-scenarios.md)
- [情景概率：状态集合、证据与更新](https://ou-liu-red-sugar.github.io/agent/zh/scenario-probabilities-evidence-updates.md)
- [风险敞口、相关性与分散](https://ou-liu-red-sugar.github.io/agent/zh/exposures-correlation-diversification.md)
- [组合实施：风险、资金与可成交规模的联合预算](https://ou-liu-red-sugar.github.io/agent/zh/portfolio-joint-implementation-budget.md)
- [融资、抵押品与现金流动性](https://ou-liu-red-sugar.github.io/agent/zh/financing-collateral-cash-liquidity.md)
- [下单、成交与交易成本](https://ou-liu-red-sugar.github.io/agent/zh/orders-execution-implementation-shortfall.md)
- [P10 对冲目标：先说清要减少什么风险](https://ou-liu-red-sugar.github.io/agent/zh/hedge-objective-and-tool-choice.md)
- [再平衡、退出与判断维护](https://ou-liu-red-sugar.github.io/agent/zh/rebalancing-exit-judgment-maintenance.md)
- [表现评价与归因：资金、费用与基准](https://ou-liu-red-sugar.github.io/agent/zh/performance-attribution-and-fee-recognition.md)
- [P13 备兑看涨：收到权利金，也卖出了一段上行](https://ou-liu-red-sugar.github.io/agent/zh/covered-call-wealth-and-assignment.md)
- [P14 现金担保看跌：有条件地买股，不是带利息的限价单](https://ou-liu-red-sugar.github.io/agent/zh/cash-secured-put-funding-and-acquisition.md)
- [P15 保护性看跌：买下一个有日期的下限](https://ou-liu-red-sugar.github.io/agent/zh/protective-put-floor-and-renewal.md)
- [P16 领口：保护下跌，要用什么来支付](https://ou-liu-red-sugar.github.io/agent/zh/collar-floor-cap-and-assignment.md)
- [P17 垂直价差：有限到期支付，不等于没有过程资金问题](https://ou-liu-red-sugar.github.io/agent/zh/vertical-spreads-cash-and-lifecycle.md)
- [P18 跨式与宽跨式：买的是一段时间里的变化，不是一张到期V形图](https://ou-liu-red-sugar.github.io/agent/zh/straddle-strangle-expiry-and-interim-volatility.md)
- [P19 日历价差：近月到期，只是下一次决策的开始](https://ou-liu-red-sugar.github.io/agent/zh/calendar-spread-two-expiries-and-inventory.md)
- [股指期货的beta对冲：目标、张数与剩余风险](https://ou-liu-red-sugar.github.io/agent/zh/beta-futures-hedge-and-integer-exposure.md)
- [商品期货：从采购和销售出发](https://ou-liu-red-sugar.github.io/agent/zh/commodity-hedges-from-procurement-and-sales.md)
- [国债期货：DV01、曲线与CTD错配](https://ou-liu-red-sugar.github.io/agent/zh/treasury-futures-dv01-and-curve-mismatch.md)
- [保证金与对冲中的现金压力](https://ou-liu-red-sugar.github.io/agent/zh/hedging-margin-and-deadline-liquidity.md)
- [一次衍生品安排的完整复盘](https://ou-liu-red-sugar.github.io/agent/zh/derivative-review-with-one-cash-ledger.md)
- [风险溢价、回测与样本外检验](https://ou-liu-red-sugar.github.io/agent/zh/risk-premia-backtests-and-out-of-sample-evidence.md)
- [动态对冲：离散交易、成本与借款事件](https://ou-liu-red-sugar.github.io/agent/zh/dynamic-hedging-discrete-trading-and-borrowing.md)
- [预期收益、CAPM与多因子模型](https://ou-liu-red-sugar.github.io/agent/zh/expected-returns-capm-and-factor-projections.md)
- [估值对象与业务状态：从研究拆分到估值组](https://ou-liu-red-sugar.github.io/agent/zh/business-states-valuation-groups.md)
- [盈利状态、资本需求与条件定价参照](https://ou-liu-red-sugar.github.io/agent/zh/state-earnings-conditional-pricing.md)
- [从经营价值与股权价值到普通股](https://ou-liu-red-sugar.github.io/agent/zh/operating-value-to-common-equity.md)
- [日期现金、结果分布与Risk-Reward](https://ou-liu-red-sugar.github.io/agent/zh/dated-cash-outcome-risk-reward.md)
- [基差与资金费率交易：先把资金账走完](https://ou-liu-red-sugar.github.io/agent/zh/basis-funding-carry-and-segregated-cash.md)
- [流动性提供：库存、费用与比较基准](https://ou-liu-red-sugar.github.io/agent/zh/liquidity-provision-inventory-and-lvr.md)
- [业务关系、校准与共同经营状态](https://ou-liu-red-sugar.github.io/agent/zh/business-relations-calibrated-states.md)
- [业务状态下的条件定价、普通股桥与Risk-Reward](https://ou-liu-red-sugar.github.io/agent/zh/conditional-pricing-common-equity-risk-reward.md)
- [金融数据、变量与版本](https://ou-liu-red-sugar.github.io/agent/zh/financial-data-versions.md)
- [情景、事件与概率](https://ou-liu-red-sugar.github.io/agent/zh/probability-events.md)
- [随机变量与分布](https://ou-liu-red-sugar.github.io/agent/zh/random-variables-distributions.md)
- [收益分布、尾部与风险度量](https://ou-liu-red-sugar.github.io/agent/zh/return-distributions-tail-risk.md)
- [条件概率、独立性与信息更新](https://ou-liu-red-sugar.github.io/agent/zh/conditional-probability.md)
- [信息流与可执行策略](https://ou-liu-red-sugar.github.io/agent/zh/information-executable-strategies.md)
- [鞅与有限时点停止](https://ou-liu-red-sugar.github.io/agent/zh/qt-martingales-stopping.md)
- [可测空间与概率测度](https://ou-liu-red-sugar.github.io/agent/zh/measurable-information.md)
- [积分与可积性](https://ou-liu-red-sugar.github.io/agent/zh/integration-expectation.md)
- [条件期望、投影与预测目标](https://ou-liu-red-sugar.github.io/agent/zh/conditional-expectation-projection.md)
- [条件期望的存在性：从 Radon–Nikodym 定理到可用信息](https://ou-liu-red-sugar.github.io/agent/zh/conditional-expectation-existence.md)
- [大数定律、中心极限定理与 Monte Carlo 误差](https://ou-liu-red-sugar.github.io/agent/zh/convergence-monte-carlo.md)
- [Markov 性与状态选择](https://ou-liu-red-sugar.github.io/agent/zh/qt-markov-state.md)
- [计数过程与 Poisson 基准](https://ou-liu-red-sugar.github.io/agent/zh/qt-counting-poisson.md)
- [Brownian 运动与二次变差](https://ou-liu-red-sugar.github.io/agent/zh/qt-brownian-variation.md)
- [Itô 积分：按已知信息累计变化](https://ou-liu-red-sugar.github.io/agent/zh/qt-ito-integral.md)
- [Itô 积分的完整构造：从时空均方到连续过程](https://ou-liu-red-sugar.github.io/agent/zh/qt-ito-integral-proof.md)
- [Itô 公式与几何 Brownian 模型](https://ou-liu-red-sugar.github.io/agent/zh/qt-ito-formula-gbm.md)
- [一维 Itô 公式：从 Taylor 和式到一般系数](https://ou-liu-red-sugar.github.io/agent/zh/qt-ito-formula-proof.md)
- [有限市场中的状态价格、等价鞅测度与完备性](https://ou-liu-red-sugar.github.io/agent/zh/qt-state-prices-martingale-measures.md)
- [有限期第一资产定价基本定理：无套利与等价鞅测度](https://ou-liu-red-sugar.github.io/agent/zh/qt-finite-market-ftap-proof.md)
- [有限期完备性与唯一等价鞅测度](https://ou-liu-red-sugar.github.io/agent/zh/qt-completeness-unique-measure-proof.md)
- [估计误差与预测不确定性](https://ou-liu-red-sugar.github.io/agent/zh/estimation-prediction-uncertainty.md)
- [预测目标、正则化与模型复杂度](https://ou-liu-red-sugar.github.io/agent/zh/prediction-regularization-complexity.md)
- [时间序列验证与信息泄漏](https://ou-liu-red-sugar.github.io/agent/zh/time-series-validation-leakage.md)
- [选择效应与多重检验](https://ou-liu-red-sugar.github.io/agent/zh/selection-multiple-testing.md)
- [成本、约束与稳健决策](https://ou-liu-red-sugar.github.io/agent/zh/costs-constraints-robust-decisions.md)
- [离散动态对冲：从现金账到误差分布](https://ou-liu-red-sugar.github.io/agent/zh/qt-dynamic-hedging-error.md)
- [现代金融学习方法：把一项研究读到可以复核](https://ou-liu-red-sugar.github.io/agent/zh/qt-modern-methods-research.md)
- [Expeditors International of Washington, Inc.：具名材料记录](https://ou-liu-red-sugar.github.io/agent/zh/expeditors-material-20260921.md)
- [SVB Financial Group（历史报告对象）：具名材料记录](https://ou-liu-red-sugar.github.io/agent/zh/svb-financial-group-historical-material-20260921.md)