VirtualBox

Ticket #16252: VBox.log

File VBox.log, 459.6 KB (added by maxchen, 8 years ago)
Line 
1VirtualBox VM 5.1.10 r112026 linux.amd64 (Nov 21 2016 17:51:03) release log
200:00:00.266159 Log opened 2016-12-02T12:03:01.698264000Z
300:00:00.266160 Build Type: release
400:00:00.266162 OS Product: Linux
500:00:00.266163 OS Release: 4.4.0-51-generic
600:00:00.266163 OS Version: #72-Ubuntu SMP Thu Nov 24 18:29:54 UTC 2016
700:00:00.266178 DMI Product Name: System Product Name
800:00:00.266182 DMI Product Version: System Version
900:00:00.266213 Host RAM: 15934MB (15.5GB) total, 11342MB (11.0GB) available
1000:00:00.266216 Executable: /usr/lib/virtualbox/VirtualBox
1100:00:00.266217 Process ID: 917
1200:00:00.266217 Package type: LINUX_64BITS_UBUNTU_16_04
1300:00:00.277987 Installed Extension Packs:
1400:00:00.278000 Oracle VM VirtualBox Extension Pack (Version: 5.1.10 r112026; VRDE Module: VBoxVRDP)
1500:00:00.278377 Console: Machine state changed to 'Starting'
1600:00:00.278469 Qt version: 5.5.1
1700:00:00.281427 SUP: Loaded VMMR0.r0 (/usr/lib/virtualbox/VMMR0.r0) at 0xffffffffc078a020 - ModuleInit at ffffffffc07b3940 and ModuleTerm at ffffffffc07b3e30
1800:00:00.281446 SUP: VMMR0EntryEx located at ffffffffc07b7510 and VMMR0EntryFast at ffffffffc07b6b80
1900:00:00.281686 GUI: UIMediumEnumerator: Medium-enumeration finished!
2000:00:00.281756 X Server details: vendor: The X.Org Foundation, release: 11804000, protocol version: 11.0, display string: :0
2100:00:00.281761 Using XKB for keycode to scan code conversion
2200:00:00.283852 Guest OS type: 'WindowsXP'
2300:00:00.285684 fHMForced=true - 64-bit guest
2400:00:00.286922 GUI: UIDesktopWidgetWatchdog::sltHandleHostScreenAvailableGeometryCalculated: Screen 0 work area is actually resized to: 0x1 x 1920x1198
2500:00:00.289964 File system of '/home/dengta/VM/TL13/Snapshots' (snapshots) is ext4
2600:00:00.289991 File system of '/home/dengta/VM/TL13/C1.vdi' is ext4
2700:00:00.291765 File system of '/home/dengta/VM/TL13/D1.vdi' is ext4
2800:00:00.292905 File system of '/2T/smb/d/ISO/TeXLive2016.iso' (DVD) is ext4
2900:00:00.301342 VBoxHGCMSvcLoad: ptable = 00007fc1b0000910
3000:00:00.301353 VBoxHGCMSvcLoad: ptable->cbSize = 96, ptable->u32Version = 0x00050001
3100:00:00.301367 Shared clipboard service loaded
3200:00:00.301369 Shared clipboard mode: Bidirectional
3300:00:00.301378 svcHostCall: fn = 1, cParms = 1, pparms = -1023433632
3400:00:00.301380 svcCall: VBOX_SHARED_CLIPBOARD_HOST_FN_SET_MODE
3500:00:00.301382 svcHostCall: rc = VINF_SUCCESS
3600:00:00.301414 svcHostCall: fn = 2, cParms = 1, pparms = -1023431952
3700:00:00.301417 svcCall: VBOX_SHARED_CLIPBOARD_HOST_FN_SET_HEADLESS, u32Headless=0
3800:00:00.301418 svcHostCall: rc = VINF_SUCCESS
3900:00:00.301778 Drag and drop service loaded
4000:00:00.301782 Drag and drop mode: Off
4100:00:00.302692 Guest Control service loaded
4200:00:00.303940 ************************* CFGM dump *************************
4300:00:00.303944 [/] (level 0)
4400:00:00.303951 CSAMEnabled <integer> = 0x0000000000000001 (1)
4500:00:00.303953 CpuExecutionCap <integer> = 0x0000000000000064 (100)
4600:00:00.303955 EnablePAE <integer> = 0x0000000000000000 (0)
4700:00:00.303955 HMEnabled <integer> = 0x0000000000000001 (1)
4800:00:00.303956 MemBalloonSize <integer> = 0x0000000000000000 (0)
4900:00:00.303957 Name <string> = "TL13" (cb=5)
5000:00:00.303958 NumCPUs <integer> = 0x0000000000000001 (1)
5100:00:00.303959 PATMEnabled <integer> = 0x0000000000000001 (1)
5200:00:00.303959 PageFusionAllowed <integer> = 0x0000000000000000 (0)
5300:00:00.303960 RamHoleSize <integer> = 0x0000000020000000 (536 870 912, 512 MB)
5400:00:00.303961 RamSize <integer> = 0x0000000020000000 (536 870 912, 512 MB)
5500:00:00.303962 RawR0Enabled <integer> = 0x0000000000000001 (1)
5600:00:00.303963 RawR3Enabled <integer> = 0x0000000000000001 (1)
5700:00:00.303964 TimerMillies <integer> = 0x000000000000000a (10)
5800:00:00.303965 UUID <bytes> = "35 8c 0d c1 61 7a bc 49 85 ae ae 06 f4 fb b4 55" (cb=16)
5900:00:00.303967
6000:00:00.303969 [/CPUM/] (level 1)
6100:00:00.303970 GuestCpuName <string> = "host" (cb=5)
6200:00:00.303971 PortableCpuIdLevel <integer> = 0x0000000000000000 (0)
6300:00:00.303972
6400:00:00.303974 [/DBGC/] (level 1)
6500:00:00.303975 GlobalInitScript <string> = "/home/dengta/.VirtualBox/dbgc-init" (cb=35)
6600:00:00.303975 HistoryFile <string> = "/home/dengta/.VirtualBox/dbgc-history" (cb=38)
6700:00:00.303976 LocalInitScript <string> = "/home/dengta/VM/TL13/dbgc-init" (cb=31)
6800:00:00.303977
6900:00:00.303977 [/DBGF/] (level 1)
7000:00:00.303978 Path <string> = "/home/dengta/VM/TL13/debug/;/home/dengta/VM/TL13/;/home/dengta/" (cb=64)
7100:00:00.303978
7200:00:00.303979 [/Devices/] (level 1)
7300:00:00.303979
7400:00:00.303980 [/Devices/8237A/] (level 2)
7500:00:00.303980
7600:00:00.303981 [/Devices/8237A/0/] (level 3)
7700:00:00.303982 Trusted <integer> = 0x0000000000000001 (1)
7800:00:00.303982
7900:00:00.303983 [/Devices/VMMDev/] (level 2)
8000:00:00.303983
8100:00:00.303984 [/Devices/VMMDev/0/] (level 3)
8200:00:00.303985 PCIBusNo <integer> = 0x0000000000000000 (0)
8300:00:00.303986 PCIDeviceNo <integer> = 0x0000000000000004 (4)
8400:00:00.303986 PCIFunctionNo <integer> = 0x0000000000000000 (0)
8500:00:00.303987 Trusted <integer> = 0x0000000000000001 (1)
8600:00:00.303987
8700:00:00.303988 [/Devices/VMMDev/0/Config/] (level 4)
8800:00:00.303989 GuestCoreDumpDir <string> = "/home/dengta/VM/TL13/Snapshots" (cb=31)
8900:00:00.303989 RamSize <integer> = 0x0000000020000000 (536 870 912, 512 MB)
9000:00:00.303991
9100:00:00.303991 [/Devices/VMMDev/0/LUN#0/] (level 4)
9200:00:00.303992 Driver <string> = "HGCM" (cb=5)
9300:00:00.303992
9400:00:00.303993 [/Devices/VMMDev/0/LUN#0/Config/] (level 5)
9500:00:00.303994 Object <integer> = 0x00007fc1b8000910 (140 469 992 425 744)
9600:00:00.303995
9700:00:00.303996 [/Devices/VMMDev/0/LUN#999/] (level 4)
9800:00:00.303997 Driver <string> = "MainStatus" (cb=11)
9900:00:00.303997
10000:00:00.303997 [/Devices/VMMDev/0/LUN#999/Config/] (level 5)
10100:00:00.303998 First <integer> = 0x0000000000000000 (0)
10200:00:00.303999 Last <integer> = 0x0000000000000000 (0)
10300:00:00.304000 papLeds <integer> = 0x00007fc1d4001968 (140 470 462 191 976)
10400:00:00.304001
10500:00:00.304001 [/Devices/acpi/] (level 2)
10600:00:00.304002
10700:00:00.304002 [/Devices/acpi/0/] (level 3)
10800:00:00.304003 PCIBusNo <integer> = 0x0000000000000000 (0)
10900:00:00.304004 PCIDeviceNo <integer> = 0x0000000000000007 (7)
11000:00:00.304005 PCIFunctionNo <integer> = 0x0000000000000000 (0)
11100:00:00.304005 Trusted <integer> = 0x0000000000000001 (1)
11200:00:00.304006
11300:00:00.304006 [/Devices/acpi/0/Config/] (level 4)
11400:00:00.304007 CpuHotPlug <integer> = 0x0000000000000000 (0)
11500:00:00.304008 FdcEnabled <integer> = 0x0000000000000000 (0)
11600:00:00.304009 HostBusPciAddress <integer> = 0x0000000000000000 (0)
11700:00:00.304009 HpetEnabled <integer> = 0x0000000000000000 (0)
11800:00:00.304010 IOAPIC <integer> = 0x0000000000000000 (0)
11900:00:00.304011 IocPciAddress <integer> = 0x0000000000010000 (65 536)
12000:00:00.304012 NumCPUs <integer> = 0x0000000000000001 (1)
12100:00:00.304012 Parallel0IoPortBase <integer> = 0x0000000000000000 (0)
12200:00:00.304013 Parallel0Irq <integer> = 0x0000000000000000 (0)
12300:00:00.304014 Parallel1IoPortBase <integer> = 0x0000000000000000 (0)
12400:00:00.304014 Parallel1Irq <integer> = 0x0000000000000000 (0)
12500:00:00.304015 RamHoleSize <integer> = 0x0000000020000000 (536 870 912, 512 MB)
12600:00:00.304016 RamSize <integer> = 0x0000000020000000 (536 870 912, 512 MB)
12700:00:00.304017 Serial0IoPortBase <integer> = 0x0000000000000000 (0)
12800:00:00.304018 Serial0Irq <integer> = 0x0000000000000000 (0)
12900:00:00.304018 Serial1IoPortBase <integer> = 0x0000000000000000 (0)
13000:00:00.304019 Serial1Irq <integer> = 0x0000000000000000 (0)
13100:00:00.304020 ShowCpu <integer> = 0x0000000000000000 (0)
13200:00:00.304020 ShowRtc <integer> = 0x0000000000000000 (0)
13300:00:00.304021 SmcEnabled <integer> = 0x0000000000000000 (0)
13400:00:00.304022
13500:00:00.304022 [/Devices/acpi/0/LUN#0/] (level 4)
13600:00:00.304023 Driver <string> = "ACPIHost" (cb=9)
13700:00:00.304024
13800:00:00.304024 [/Devices/acpi/0/LUN#0/Config/] (level 5)
13900:00:00.304025
14000:00:00.304025 [/Devices/apic/] (level 2)
14100:00:00.304026
14200:00:00.304026 [/Devices/apic/0/] (level 3)
14300:00:00.304027 Trusted <integer> = 0x0000000000000001 (1)
14400:00:00.304028
14500:00:00.304028 [/Devices/apic/0/Config/] (level 4)
14600:00:00.304029 IOAPIC <integer> = 0x0000000000000000 (0)
14700:00:00.304030 Mode <integer> = 0x0000000000000002 (2)
14800:00:00.304030 NumCPUs <integer> = 0x0000000000000001 (1)
14900:00:00.304031
15000:00:00.304031 [/Devices/e1000/] (level 2)
15100:00:00.304032
15200:00:00.304032 [/Devices/i8254/] (level 2)
15300:00:00.304033
15400:00:00.304033 [/Devices/i8254/0/] (level 3)
15500:00:00.304034
15600:00:00.304034 [/Devices/i8254/0/Config/] (level 4)
15700:00:00.304035
15800:00:00.304036 [/Devices/i8259/] (level 2)
15900:00:00.304036
16000:00:00.304037 [/Devices/i8259/0/] (level 3)
16100:00:00.304038 Trusted <integer> = 0x0000000000000001 (1)
16200:00:00.304038
16300:00:00.304038 [/Devices/i8259/0/Config/] (level 4)
16400:00:00.304039
16500:00:00.304040 [/Devices/ichac97/] (level 2)
16600:00:00.304040
16700:00:00.304041 [/Devices/ichac97/0/] (level 3)
16800:00:00.304042 PCIBusNo <integer> = 0x0000000000000000 (0)
16900:00:00.304042 PCIDeviceNo <integer> = 0x0000000000000005 (5)
17000:00:00.304043 PCIFunctionNo <integer> = 0x0000000000000000 (0)
17100:00:00.304043 Trusted <integer> = 0x0000000000000001 (1)
17200:00:00.304044
17300:00:00.304044 [/Devices/ichac97/0/AudioConfig/] (level 4)
17400:00:00.304045
17500:00:00.304046 [/Devices/ichac97/0/Config/] (level 4)
17600:00:00.304047 Codec <string> = "STAC9700" (cb=9)
17700:00:00.304047
17800:00:00.304047 [/Devices/ichac97/0/LUN#0/] (level 4)
17900:00:00.304048 Driver <string> = "AUDIO" (cb=6)
18000:00:00.304049
18100:00:00.304049 [/Devices/ichac97/0/LUN#0/AttachedDriver/] (level 5)
18200:00:00.304050 Driver <string> = "PulseAudio" (cb=11)
18300:00:00.304051
18400:00:00.304051 [/Devices/ichac97/0/LUN#0/AttachedDriver/Config/] (level 6)
18500:00:00.304052 StreamName <string> = "TL13" (cb=5)
18600:00:00.304053
18700:00:00.304053 [/Devices/ichac97/0/LUN#0/Config/] (level 5)
18800:00:00.304054
18900:00:00.304054 [/Devices/ichac97/0/LUN#1/] (level 4)
19000:00:00.304055 Driver <string> = "AUDIO" (cb=6)
19100:00:00.304056
19200:00:00.304056 [/Devices/ichac97/0/LUN#1/AttachedDriver/] (level 5)
19300:00:00.304057 Driver <string> = "AudioVRDE" (cb=10)
19400:00:00.304058
19500:00:00.304058 [/Devices/ichac97/0/LUN#1/AttachedDriver/Config/] (level 6)
19600:00:00.304059 AudioDriver <string> = "AudioVRDE" (cb=10)
19700:00:00.304060 Object <integer> = 0x00007fc1d4007a90 (140 470 462 216 848)
19800:00:00.304061 ObjectVRDPServer <integer> = 0x00007fc1d4007b70 (140 470 462 217 072)
19900:00:00.304062 StreamName <string> = "TL13" (cb=5)
20000:00:00.304063
20100:00:00.304063 [/Devices/mc146818/] (level 2)
20200:00:00.304064
20300:00:00.304064 [/Devices/mc146818/0/] (level 3)
20400:00:00.304065
20500:00:00.304065 [/Devices/mc146818/0/Config/] (level 4)
20600:00:00.304066 UseUTC <integer> = 0x0000000000000000 (0)
20700:00:00.304067
20800:00:00.304067 [/Devices/parallel/] (level 2)
20900:00:00.304068
21000:00:00.304068 [/Devices/pcarch/] (level 2)
21100:00:00.304069
21200:00:00.304069 [/Devices/pcarch/0/] (level 3)
21300:00:00.304070 Trusted <integer> = 0x0000000000000001 (1)
21400:00:00.304071
21500:00:00.304071 [/Devices/pcarch/0/Config/] (level 4)
21600:00:00.304072
21700:00:00.304072 [/Devices/pcbios/] (level 2)
21800:00:00.304073
21900:00:00.304073 [/Devices/pcbios/0/] (level 3)
22000:00:00.304074 Trusted <integer> = 0x0000000000000001 (1)
22100:00:00.304075
22200:00:00.304075 [/Devices/pcbios/0/Config/] (level 4)
22300:00:00.304076 APIC <integer> = 0x0000000000000001 (1)
22400:00:00.304077 BootDevice0 <string> = "DVD" (cb=4)
22500:00:00.304077 BootDevice1 <string> = "IDE" (cb=4)
22600:00:00.304078 BootDevice2 <string> = "NONE" (cb=5)
22700:00:00.304079 BootDevice3 <string> = "NONE" (cb=5)
22800:00:00.304079 FloppyDevice <string> = "i82078" (cb=7)
22900:00:00.304080 HardDiskDevice <string> = "piix3ide" (cb=9)
23000:00:00.304080 IOAPIC <integer> = 0x0000000000000000 (0)
23100:00:00.304081 LanBootRom <string> = "/usr/lib/virtualbox/ExtensionPacks/Oracle_VM_VirtualBox_Extension_Pack/PXE-Intel.rom" (cb=85)
23200:00:00.304082 McfgBase <integer> = 0x0000000000000000 (0)
23300:00:00.304082 McfgLength <integer> = 0x0000000000000000 (0)
23400:00:00.304083 NumCPUs <integer> = 0x0000000000000001 (1)
23500:00:00.304084 PXEDebug <integer> = 0x0000000000000000 (0)
23600:00:00.304084 RamHoleSize <integer> = 0x0000000020000000 (536 870 912, 512 MB)
23700:00:00.304085 RamSize <integer> = 0x0000000020000000 (536 870 912, 512 MB)
23800:00:00.304086 UUID <bytes> = "35 8c 0d c1 61 7a bc 49 85 ae ae 06 f4 fb b4 55" (cb=16)
23900:00:00.304088
24000:00:00.304089 [/Devices/pcbios/0/Config/NetBoot/] (level 5)
24100:00:00.304090
24200:00:00.304090 [/Devices/pcbios/0/Config/NetBoot/0/] (level 6)
24300:00:00.304091 NIC <integer> = 0x0000000000000000 (0)
24400:00:00.304092 PCIBusNo <integer> = 0x0000000000000000 (0)
24500:00:00.304093 PCIDeviceNo <integer> = 0x0000000000000003 (3)
24600:00:00.304093 PCIFunctionNo <integer> = 0x0000000000000000 (0)
24700:00:00.304094
24800:00:00.304094 [/Devices/pci/] (level 2)
24900:00:00.304095
25000:00:00.304095 [/Devices/pci/0/] (level 3)
25100:00:00.304096 Trusted <integer> = 0x0000000000000001 (1)
25200:00:00.304097
25300:00:00.304097 [/Devices/pci/0/Config/] (level 4)
25400:00:00.304098 IOAPIC <integer> = 0x0000000000000000 (0)
25500:00:00.304098
25600:00:00.304099 [/Devices/pckbd/] (level 2)
25700:00:00.304099
25800:00:00.304100 [/Devices/pckbd/0/] (level 3)
25900:00:00.304101 Trusted <integer> = 0x0000000000000001 (1)
26000:00:00.304101
26100:00:00.304102 [/Devices/pckbd/0/Config/] (level 4)
26200:00:00.304102
26300:00:00.304103 [/Devices/pckbd/0/LUN#0/] (level 4)
26400:00:00.304104 Driver <string> = "KeyboardQueue" (cb=14)
26500:00:00.304104
26600:00:00.304105 [/Devices/pckbd/0/LUN#0/AttachedDriver/] (level 5)
26700:00:00.304106 Driver <string> = "MainKeyboard" (cb=13)
26800:00:00.304106
26900:00:00.304106 [/Devices/pckbd/0/LUN#0/AttachedDriver/Config/] (level 6)
27000:00:00.304108 Object <integer> = 0x00007fc1d4002650 (140 470 462 195 280)
27100:00:00.304109
27200:00:00.304109 [/Devices/pckbd/0/LUN#0/Config/] (level 5)
27300:00:00.304110 QueueSize <integer> = 0x0000000000000040 (64)
27400:00:00.304111
27500:00:00.304111 [/Devices/pckbd/0/LUN#1/] (level 4)
27600:00:00.304112 Driver <string> = "MouseQueue" (cb=11)
27700:00:00.304112
27800:00:00.304113 [/Devices/pckbd/0/LUN#1/AttachedDriver/] (level 5)
27900:00:00.304114 Driver <string> = "MainMouse" (cb=10)
28000:00:00.304114
28100:00:00.304115 [/Devices/pckbd/0/LUN#1/AttachedDriver/Config/] (level 6)
28200:00:00.304116 Object <integer> = 0x00007fc1d4002e30 (140 470 462 197 296)
28300:00:00.304117
28400:00:00.304117 [/Devices/pckbd/0/LUN#1/Config/] (level 5)
28500:00:00.304118 QueueSize <integer> = 0x0000000000000080 (128)
28600:00:00.304119
28700:00:00.304119 [/Devices/pcnet/] (level 2)
28800:00:00.304120
28900:00:00.304120 [/Devices/pcnet/0/] (level 3)
29000:00:00.304121 PCIBusNo <integer> = 0x0000000000000000 (0)
29100:00:00.304122 PCIDeviceNo <integer> = 0x0000000000000003 (3)
29200:00:00.304122 PCIFunctionNo <integer> = 0x0000000000000000 (0)
29300:00:00.304123 Trusted <integer> = 0x0000000000000001 (1)
29400:00:00.304124
29500:00:00.304124 [/Devices/pcnet/0/Config/] (level 4)
29600:00:00.304125 Am79C973 <integer> = 0x0000000000000001 (1)
29700:00:00.304126 CableConnected <integer> = 0x0000000000000001 (1)
29800:00:00.304126 LineSpeed <integer> = 0x0000000000000000 (0)
29900:00:00.304127 MAC <bytes> = "08 00 27 d0 fb b0" (cb=6)
30000:00:00.304128
30100:00:00.304128 [/Devices/pcnet/0/LUN#0/] (level 4)
30200:00:00.304129 Driver <string> = "IntNet" (cb=7)
30300:00:00.304130
30400:00:00.304130 [/Devices/pcnet/0/LUN#0/Config/] (level 5)
30500:00:00.304131 IfPolicyPromisc <string> = "deny" (cb=5)
30600:00:00.304132 Network <string> = "HostInterfaceNetworking-vboxnet0" (cb=33)
30700:00:00.304132 Trunk <string> = "vboxnet0" (cb=9)
30800:00:00.304133 TrunkType <integer> = 0x0000000000000003 (3)
30900:00:00.304134
31000:00:00.304134 [/Devices/pcnet/0/LUN#999/] (level 4)
31100:00:00.304135 Driver <string> = "MainStatus" (cb=11)
31200:00:00.304135
31300:00:00.304136 [/Devices/pcnet/0/LUN#999/Config/] (level 5)
31400:00:00.304137 First <integer> = 0x0000000000000000 (0)
31500:00:00.304137 Last <integer> = 0x0000000000000000 (0)
31600:00:00.304138 papLeds <integer> = 0x00007fc1d4001848 (140 470 462 191 688)
31700:00:00.304139
31800:00:00.304139 [/Devices/piix3ide/] (level 2)
31900:00:00.304140
32000:00:00.304140 [/Devices/piix3ide/0/] (level 3)
32100:00:00.304141 PCIBusNo <integer> = 0x0000000000000000 (0)
32200:00:00.304142 PCIDeviceNo <integer> = 0x0000000000000001 (1)
32300:00:00.304143 PCIFunctionNo <integer> = 0x0000000000000001 (1)
32400:00:00.304143 Trusted <integer> = 0x0000000000000001 (1)
32500:00:00.304144
32600:00:00.304144 [/Devices/piix3ide/0/Config/] (level 4)
32700:00:00.304145 Type <string> = "PIIX4" (cb=6)
32800:00:00.304146
32900:00:00.304146 [/Devices/piix3ide/0/Config/PrimaryMaster/] (level 5)
33000:00:00.304147 NonRotationalMedium <integer> = 0x0000000000000000 (0)
33100:00:00.304148
33200:00:00.304148 [/Devices/piix3ide/0/Config/PrimarySlave/] (level 5)
33300:00:00.304149 NonRotationalMedium <integer> = 0x0000000000000000 (0)
33400:00:00.304150
33500:00:00.304150 [/Devices/piix3ide/0/Config/SecondaryMaster/] (level 5)
33600:00:00.304151 NonRotationalMedium <integer> = 0x0000000000000000 (0)
33700:00:00.304151
33800:00:00.304152 [/Devices/piix3ide/0/LUN#0/] (level 4)
33900:00:00.304153 Driver <string> = "VD" (cb=3)
34000:00:00.304153
34100:00:00.304154 [/Devices/piix3ide/0/LUN#0/Config/] (level 5)
34200:00:00.304155 Format <string> = "VDI" (cb=4)
34300:00:00.304155 Mountable <integer> = 0x0000000000000000 (0)
34400:00:00.304156 Path <string> = "/home/dengta/VM/TL13/C1.vdi" (cb=28)
34500:00:00.304156 Type <string> = "HardDisk" (cb=9)
34600:00:00.304157
34700:00:00.304157 [/Devices/piix3ide/0/LUN#0/Config/Plugins/] (level 6)
34800:00:00.304158
34900:00:00.304159 [/Devices/piix3ide/0/LUN#0/Config/Plugins/VDPluginCrypt/] (level 7)
35000:00:00.304160 Path <string> = "/usr/lib/virtualbox/ExtensionPacks/Oracle_VM_VirtualBox_Extension_Pack/linux.amd64/VDPluginCrypt.so" (cb=100)
35100:00:00.304161
35200:00:00.304161 [/Devices/piix3ide/0/LUN#1/] (level 4)
35300:00:00.304162 Driver <string> = "VD" (cb=3)
35400:00:00.304163
35500:00:00.304163 [/Devices/piix3ide/0/LUN#1/Config/] (level 5)
35600:00:00.304164 Format <string> = "VDI" (cb=4)
35700:00:00.304164 Mountable <integer> = 0x0000000000000000 (0)
35800:00:00.304165 Path <string> = "/home/dengta/VM/TL13/D1.vdi" (cb=28)
35900:00:00.304166 Type <string> = "HardDisk" (cb=9)
36000:00:00.304166
36100:00:00.304167 [/Devices/piix3ide/0/LUN#1/Config/Plugins/] (level 6)
36200:00:00.304168
36300:00:00.304168 [/Devices/piix3ide/0/LUN#1/Config/Plugins/VDPluginCrypt/] (level 7)
36400:00:00.304169 Path <string> = "/usr/lib/virtualbox/ExtensionPacks/Oracle_VM_VirtualBox_Extension_Pack/linux.amd64/VDPluginCrypt.so" (cb=100)
36500:00:00.304170
36600:00:00.304170 [/Devices/piix3ide/0/LUN#2/] (level 4)
36700:00:00.304171 Driver <string> = "VD" (cb=3)
36800:00:00.304172
36900:00:00.304172 [/Devices/piix3ide/0/LUN#2/Config/] (level 5)
37000:00:00.304173 Format <string> = "RAW" (cb=4)
37100:00:00.304173 Mountable <integer> = 0x0000000000000001 (1)
37200:00:00.304174 Path <string> = "/2T/smb/d/ISO/TeXLive2016.iso" (cb=30)
37300:00:00.304175 ReadOnly <integer> = 0x0000000000000001 (1)
37400:00:00.304175 Type <string> = "DVD" (cb=4)
37500:00:00.304176
37600:00:00.304176 [/Devices/piix3ide/0/LUN#2/Config/Plugins/] (level 6)
37700:00:00.304177
37800:00:00.304178 [/Devices/piix3ide/0/LUN#2/Config/Plugins/VDPluginCrypt/] (level 7)
37900:00:00.304179 Path <string> = "/usr/lib/virtualbox/ExtensionPacks/Oracle_VM_VirtualBox_Extension_Pack/linux.amd64/VDPluginCrypt.so" (cb=100)
38000:00:00.304180
38100:00:00.304180 [/Devices/piix3ide/0/LUN#999/] (level 4)
38200:00:00.304181 Driver <string> = "MainStatus" (cb=11)
38300:00:00.304181
38400:00:00.304182 [/Devices/piix3ide/0/LUN#999/Config/] (level 5)
38500:00:00.304183 DeviceInstance <string> = "piix3ide/0" (cb=11)
38600:00:00.304183 First <integer> = 0x0000000000000000 (0)
38700:00:00.304184 Last <integer> = 0x0000000000000003 (3)
38800:00:00.304185 pConsole <integer> = 0x00007fc1d4001180 (140 470 462 189 952)
38900:00:00.304186 papLeds <integer> = 0x00007fc1d4001548 (140 470 462 190 920)
39000:00:00.304187 pmapMediumAttachments <integer> = 0x00007fc1d4001988 (140 470 462 192 008)
39100:00:00.304188
39200:00:00.304189 [/Devices/serial/] (level 2)
39300:00:00.304189
39400:00:00.304190 [/Devices/usb-ehci/] (level 2)
39500:00:00.304191
39600:00:00.304191 [/Devices/usb-ehci/0/] (level 3)
39700:00:00.304192 PCIBusNo <integer> = 0x0000000000000000 (0)
39800:00:00.304192 PCIDeviceNo <integer> = 0x000000000000000b (11)
39900:00:00.304193 PCIFunctionNo <integer> = 0x0000000000000000 (0)
40000:00:00.304194 Trusted <integer> = 0x0000000000000001 (1)
40100:00:00.304194
40200:00:00.304195 [/Devices/usb-ehci/0/Config/] (level 4)
40300:00:00.304195
40400:00:00.304196 [/Devices/usb-ehci/0/LUN#0/] (level 4)
40500:00:00.304197 Driver <string> = "VUSBRootHub" (cb=12)
40600:00:00.304197
40700:00:00.304198 [/Devices/usb-ehci/0/LUN#0/Config/] (level 5)
40800:00:00.304199
40900:00:00.304199 [/Devices/usb-ehci/0/LUN#999/] (level 4)
41000:00:00.304200 Driver <string> = "MainStatus" (cb=11)
41100:00:00.304200
41200:00:00.304201 [/Devices/usb-ehci/0/LUN#999/Config/] (level 5)
41300:00:00.304202 First <integer> = 0x0000000000000000 (0)
41400:00:00.304202 Last <integer> = 0x0000000000000000 (0)
41500:00:00.304203 papLeds <integer> = 0x00007fc1d4001978 (140 470 462 191 992)
41600:00:00.304204
41700:00:00.304204 [/Devices/usb-ohci/] (level 2)
41800:00:00.304205
41900:00:00.304205 [/Devices/usb-ohci/0/] (level 3)
42000:00:00.304206 PCIBusNo <integer> = 0x0000000000000000 (0)
42100:00:00.304207 PCIDeviceNo <integer> = 0x0000000000000006 (6)
42200:00:00.304207 PCIFunctionNo <integer> = 0x0000000000000000 (0)
42300:00:00.304208 Trusted <integer> = 0x0000000000000001 (1)
42400:00:00.304209
42500:00:00.304209 [/Devices/usb-ohci/0/Config/] (level 4)
42600:00:00.304210
42700:00:00.304210 [/Devices/usb-ohci/0/LUN#0/] (level 4)
42800:00:00.304211 Driver <string> = "VUSBRootHub" (cb=12)
42900:00:00.304212
43000:00:00.304212 [/Devices/usb-ohci/0/LUN#0/Config/] (level 5)
43100:00:00.304213
43200:00:00.304213 [/Devices/usb-ohci/0/LUN#999/] (level 4)
43300:00:00.304214 Driver <string> = "MainStatus" (cb=11)
43400:00:00.304215
43500:00:00.304215 [/Devices/usb-ohci/0/LUN#999/Config/] (level 5)
43600:00:00.304216 First <integer> = 0x0000000000000000 (0)
43700:00:00.304217 Last <integer> = 0x0000000000000000 (0)
43800:00:00.304217 papLeds <integer> = 0x00007fc1d4001970 (140 470 462 191 984)
43900:00:00.304218
44000:00:00.304219 [/Devices/vga/] (level 2)
44100:00:00.304219
44200:00:00.304220 [/Devices/vga/0/] (level 3)
44300:00:00.304220 PCIBusNo <integer> = 0x0000000000000000 (0)
44400:00:00.304221 PCIDeviceNo <integer> = 0x0000000000000002 (2)
44500:00:00.304222 PCIFunctionNo <integer> = 0x0000000000000000 (0)
44600:00:00.304222 Trusted <integer> = 0x0000000000000001 (1)
44700:00:00.304223
44800:00:00.304223 [/Devices/vga/0/Config/] (level 4)
44900:00:00.304224 CustomVideoModes <integer> = 0x0000000000000000 (0)
45000:00:00.304225 FadeIn <integer> = 0x0000000000000001 (1)
45100:00:00.304225 FadeOut <integer> = 0x0000000000000001 (1)
45200:00:00.304226 HeightReduction <integer> = 0x0000000000000000 (0)
45300:00:00.304227 LogoFile <string> = "" (cb=1)
45400:00:00.304227 LogoTime <integer> = 0x0000000000000000 (0)
45500:00:00.304228 MonitorCount <integer> = 0x0000000000000001 (1)
45600:00:00.304229 ShowBootMenu <integer> = 0x0000000000000002 (2)
45700:00:00.304229 VRamSize <integer> = 0x0000000002000000 (33 554 432, 32 MB)
45800:00:00.304231
45900:00:00.304231 [/Devices/vga/0/LUN#0/] (level 4)
46000:00:00.304232 Driver <string> = "MainDisplay" (cb=12)
46100:00:00.304232
46200:00:00.304233 [/Devices/vga/0/LUN#0/Config/] (level 5)
46300:00:00.304234 Object <integer> = 0x00007fc1d4003a40 (140 470 462 200 384)
46400:00:00.304235
46500:00:00.304235 [/Devices/vga/0/LUN#999/] (level 4)
46600:00:00.304236 Driver <string> = "MainStatus" (cb=11)
46700:00:00.304236
46800:00:00.304237 [/Devices/vga/0/LUN#999/Config/] (level 5)
46900:00:00.304238 First <integer> = 0x0000000000000000 (0)
47000:00:00.304238 Last <integer> = 0x0000000000000000 (0)
47100:00:00.304239 papLeds <integer> = 0x00007fc1d4001980 (140 470 462 192 000)
47200:00:00.304240
47300:00:00.304240 [/Devices/virtio-net/] (level 2)
47400:00:00.304241
47500:00:00.304241 [/EM/] (level 1)
47600:00:00.304242 TripleFaultReset <integer> = 0x0000000000000000 (0)
47700:00:00.304243
47800:00:00.304243 [/GIM/] (level 1)
47900:00:00.304244 Provider <string> = "None" (cb=5)
48000:00:00.304244
48100:00:00.304245 [/HM/] (level 1)
48200:00:00.304245 64bitEnabled <integer> = 0x0000000000000001 (1)
48300:00:00.304246 EnableLargePages <integer> = 0x0000000000000000 (0)
48400:00:00.304247 EnableNestedPaging <integer> = 0x0000000000000001 (1)
48500:00:00.304247 EnableUX <integer> = 0x0000000000000001 (1)
48600:00:00.304248 EnableVPID <integer> = 0x0000000000000001 (1)
48700:00:00.304249 Exclusive <integer> = 0x0000000000000001 (1)
48800:00:00.304249 HMForced <integer> = 0x0000000000000001 (1)
48900:00:00.304250
49000:00:00.304250 [/MM/] (level 1)
49100:00:00.304251 CanUseLargerHeap <integer> = 0x0000000000000000 (0)
49200:00:00.304252
49300:00:00.304252 [/PDM/] (level 1)
49400:00:00.304252
49500:00:00.304253 [/PDM/AsyncCompletion/] (level 2)
49600:00:00.304254
49700:00:00.304254 [/PDM/AsyncCompletion/File/] (level 3)
49800:00:00.304255
49900:00:00.304255 [/PDM/AsyncCompletion/File/BwGroups/] (level 4)
50000:00:00.304256
50100:00:00.304256 [/PDM/BlkCache/] (level 2)
50200:00:00.304257 CacheSize <integer> = 0x0000000000500000 (5 242 880, 5 MB)
50300:00:00.304258
50400:00:00.304259 [/PDM/Devices/] (level 2)
50500:00:00.304259
50600:00:00.304260 [/PDM/Devices/VBoxEhci/] (level 3)
50700:00:00.304261 Path <string> = "/usr/lib/virtualbox/ExtensionPacks/Oracle_VM_VirtualBox_Extension_Pack/linux.amd64/VBoxEhciR3.so" (cb=97)
50800:00:00.304261 R0SearchPath <string> = "/usr/lib/virtualbox/ExtensionPacks/Oracle_VM_VirtualBox_Extension_Pack/linux.amd64" (cb=83)
50900:00:00.304262 RCSearchPath <string> = "/usr/lib/virtualbox/ExtensionPacks/Oracle_VM_VirtualBox_Extension_Pack/linux.amd64" (cb=83)
51000:00:00.304262
51100:00:00.304263 [/PDM/Devices/VBoxNvme/] (level 3)
51200:00:00.304264 Path <string> = "/usr/lib/virtualbox/ExtensionPacks/Oracle_VM_VirtualBox_Extension_Pack/linux.amd64/VBoxNvmeR3.so" (cb=97)
51300:00:00.304264 R0SearchPath <string> = "/usr/lib/virtualbox/ExtensionPacks/Oracle_VM_VirtualBox_Extension_Pack/linux.amd64" (cb=83)
51400:00:00.304265 RCSearchPath <string> = "/usr/lib/virtualbox/ExtensionPacks/Oracle_VM_VirtualBox_Extension_Pack/linux.amd64" (cb=83)
51500:00:00.304266
51600:00:00.304266 [/PDM/Devices/VBoxPciRaw/] (level 3)
51700:00:00.304267 Path <string> = "/usr/lib/virtualbox/ExtensionPacks/Oracle_VM_VirtualBox_Extension_Pack/linux.amd64/VBoxPciRawR3.so" (cb=99)
51800:00:00.304267 R0SearchPath <string> = "/usr/lib/virtualbox/ExtensionPacks/Oracle_VM_VirtualBox_Extension_Pack/linux.amd64" (cb=83)
51900:00:00.304268
52000:00:00.304268 [/PDM/Drivers/] (level 2)
52100:00:00.304269
52200:00:00.304269 [/PDM/Drivers/DrvHostWebcam/] (level 3)
52300:00:00.304270 Path <string> = "/usr/lib/virtualbox/ExtensionPacks/Oracle_VM_VirtualBox_Extension_Pack/linux.amd64/VBoxHostWebcam.so" (cb=101)
52400:00:00.304271
52500:00:00.304271 [/PDM/Drivers/VBoxC/] (level 3)
52600:00:00.304272 Path <string> = "/usr/lib/virtualbox/components/VBoxC" (cb=37)
52700:00:00.304273
52800:00:00.304273 [/PDM/Drivers/VBoxPciRawDrv/] (level 3)
52900:00:00.304274 Path <string> = "/usr/lib/virtualbox/ExtensionPacks/Oracle_VM_VirtualBox_Extension_Pack/linux.amd64/VBoxPciRawDrv.so" (cb=100)
53000:00:00.304274
53100:00:00.304275 [/PDM/NetworkShaper/] (level 2)
53200:00:00.304275
53300:00:00.304276 [/PDM/NetworkShaper/BwGroups/] (level 3)
53400:00:00.304277
53500:00:00.304277 [/PDM/USB/] (level 2)
53600:00:00.304278
53700:00:00.304278 [/PDM/USB/VBoxUsbCardReader/] (level 3)
53800:00:00.304279 Path <string> = "/usr/lib/virtualbox/ExtensionPacks/Oracle_VM_VirtualBox_Extension_Pack/linux.amd64/VBoxUsbCardReaderR3.so" (cb=106)
53900:00:00.304279
54000:00:00.304280 [/PDM/USB/VBoxUsbWebcam/] (level 3)
54100:00:00.304281 Path <string> = "/usr/lib/virtualbox/ExtensionPacks/Oracle_VM_VirtualBox_Extension_Pack/linux.amd64/VBoxUsbWebcamR3.so" (cb=102)
54200:00:00.304281
54300:00:00.304281 [/TM/] (level 1)
54400:00:00.304282 UTCOffset <integer> = 0x0000000000000000 (0)
54500:00:00.304283
54600:00:00.304283 [/USB/] (level 1)
54700:00:00.304284
54800:00:00.304284 [/USB/HidMouse/] (level 2)
54900:00:00.304285
55000:00:00.304285 [/USB/HidMouse/0/] (level 3)
55100:00:00.304286
55200:00:00.304286 [/USB/HidMouse/0/Config/] (level 4)
55300:00:00.304287 Mode <string> = "absolute" (cb=9)
55400:00:00.304288
55500:00:00.304288 [/USB/HidMouse/0/LUN#0/] (level 4)
55600:00:00.304289 Driver <string> = "MouseQueue" (cb=11)
55700:00:00.304289
55800:00:00.304290 [/USB/HidMouse/0/LUN#0/AttachedDriver/] (level 5)
55900:00:00.304291 Driver <string> = "MainMouse" (cb=10)
56000:00:00.304291
56100:00:00.304291 [/USB/HidMouse/0/LUN#0/AttachedDriver/Config/] (level 6)
56200:00:00.304293 Object <integer> = 0x00007fc1d4002e30 (140 470 462 197 296)
56300:00:00.304294
56400:00:00.304294 [/USB/HidMouse/0/LUN#0/Config/] (level 5)
56500:00:00.304295 QueueSize <integer> = 0x0000000000000080 (128)
56600:00:00.304296
56700:00:00.304296 [/USB/USBProxy/] (level 2)
56800:00:00.304297
56900:00:00.304297 [/USB/USBProxy/GlobalConfig/] (level 3)
57000:00:00.304298
57100:00:00.304298 ********************* End of CFGM dump **********************
57200:00:00.304305 VM: fHMEnabled=true (configured) fRecompileUser=false fRecompileSupervisor=false
57300:00:00.304307 VM: fRawRing1Enabled=false CSAM=true PATM=true
57400:00:00.304376 HM: HMR3Init: VT-x w/ nested paging and unrestricted guest execution hw support
57500:00:00.304397 MM: cbHyperHeap=0x100000 (1048576)
57600:00:00.304913 CPUM: fXStateHostMask=0x7; initial: 0x7; host XCR0=0x1f
57700:00:00.305686 CPUM: Matched host CPU INTEL 0x6/0x5e/0x3 Intel_Core7_Skylake with CPU DB entry 'Intel Core i7-6700K' (INTEL 0x6/0x5e/0x3 Intel_Core7_Skylake)
57800:00:00.305733 CPUM: VCPU 0: Cached APIC base MSR = 0x0
57900:00:00.305965 PGM: HCPhysInterPD=000000000bc00000 HCPhysInterPaePDPT=0000000012b97000 HCPhysInterPaePML4=00000000711fd000
58000:00:00.305972 PGM: apInterPTs={000000000bc01000,0000000012b96000} apInterPaePTs={000000035383c000,000000035383d000} apInterPaePDs={00000001158c4000,00000001158c5000,00000001ad124000,00000001ad125000} pInterPaePDPT64=00000000711fc000
58100:00:00.305978 PGM: Host paging mode: AMD64+PGE+NX
58200:00:00.305985 PGM: PGMPool: cMaxPages=288 (u64MaxPages=288)
58300:00:00.305987 PGM: pgmR3PoolInit: cMaxPages=0x120 cMaxUsers=0x240 cMaxPhysExts=0x240 fCacheEnable=true
58400:00:00.310316 TM: GIP - u32Mode=3 (Invariant) u32UpdateHz=83 u32UpdateIntervalNS=12000000 enmUseTscDelta=2 (Pratically Zero) fGetGipCpu=0xb cCpus=4
58500:00:00.310330 TM: GIP - u64CpuHz=2 710 636 894 (0xa191095e) SUPGetCpuHzFromGip => 2 710 636 894
58600:00:00.310334 TM: GIP - CPU: iCpuSet=0x0 idCpu=0x0 idApic=0x0 iGipCpu=0x2 i64TSCDelta=0 enmState=3 u64CpuHz=2710636920(*) cErrors=0
58700:00:00.310353 TM: GIP - CPU: iCpuSet=0x1 idCpu=0x1 idApic=0x2 iGipCpu=0x1 i64TSCDelta=0 enmState=3 u64CpuHz=2710636635(*) cErrors=0
58800:00:00.310356 TM: GIP - CPU: iCpuSet=0x2 idCpu=0x2 idApic=0x4 iGipCpu=0x0 i64TSCDelta=0 enmState=3 u64CpuHz=2710636894(*) cErrors=0
58900:00:00.310358 TM: GIP - CPU: iCpuSet=0x3 idCpu=0x3 idApic=0x6 iGipCpu=0x3 i64TSCDelta=0 enmState=3 u64CpuHz=2710636892(*) cErrors=0
59000:00:00.310388 TM: cTSCTicksPerSecond=2 710 636 894 (0xa191095e) enmTSCMode=3 (Dynamic)
59100:00:00.310390 TM: TSCTiedToExecution=false TSCNotTiedToHalt=false
59200:00:00.310533 VMM: CoreCode: R3=00007fc1f4ab1000 R0=ffffc90002962000 RC=a0351000 Phys=000000004af4b000 cb=0x1000
59300:00:00.310621 IEM: TargetCpu=CURRENT, Microarch=Intel_Core7_Skylake
59400:00:00.310673 GIM: Using provider 'None' (Implementation version: 0)
59500:00:00.346686 AIOMgr: Default manager type is 'Async'
59600:00:00.346700 AIOMgr: Default file backend is 'NonBuffered'
59700:00:00.346861 BlkCache: Cache successfully initialized. Cache size is 5242880 bytes
59800:00:00.346876 BlkCache: Cache commit interval is 10000 ms
59900:00:00.346878 BlkCache: Cache commit threshold is 2621440 bytes
60000:00:00.349705 PcBios: [SMP] BIOS with 1 CPUs
60100:00:00.349729 PcBios: Using the 386+ BIOS image.
60200:00:00.350064 PcBios: Using LAN ROM '/usr/lib/virtualbox/ExtensionPacks/Oracle_VM_VirtualBox_Extension_Pack/PXE-Intel.rom' with a size of 0xc000 bytes
60300:00:00.350131 PcBios: fCheckShutdownStatusForSoftReset=true fClearShutdownStatusOnHardReset=true
60400:00:00.353175 SUP: Loaded VBoxDDR0.r0 (/usr/lib/virtualbox/VBoxDDR0.r0) at 0xffffffffc088d020 - ModuleInit at 0000000000000000 and ModuleTerm at 0000000000000000
60500:00:00.353365 CPUM: SetGuestCpuIdFeature: Enabled xAPIC
60600:00:00.353498 PIT: mode=3 count=0x10000 (65536) - 18.20 Hz (ch=0)
60700:00:00.355112 Shared Folders service loaded
60800:00:00.362349 VGA: Using the 386+ BIOS image.
60900:00:00.363414 VD: VDInit finished
61000:00:00.366794 DrvVD: Flushes will be ignored
61100:00:00.366802 DrvVD: Async flushes will be passed to the disk
61200:00:00.366834 VD: Opening the disk took 27659 ns
61300:00:00.366872 PIIX3 ATA: LUN#0: disk, PCHS=12483/16/63, total number of sectors 12582912
61400:00:00.366887 DrvVD: Flushes will be ignored
61500:00:00.366889 DrvVD: Async flushes will be passed to the disk
61600:00:00.366901 VD: Opening the disk took 9644 ns
61700:00:00.366923 PIIX3 ATA: LUN#1: disk, PCHS=2080/16/63, total number of sectors 2097152
61800:00:00.366957 DrvVD: Flushes will be ignored
61900:00:00.366960 DrvVD: Async flushes will be passed to the disk
62000:00:00.366975 VD: Opening the disk took 12004 ns
62100:00:00.367008 PIIX3 ATA: LUN#2: CD/DVD, total number of sectors 665652, passthrough disabled
62200:00:00.367013 PIIX3 ATA: LUN#3: no unit
62300:00:00.367052 PIIX3 ATA: Ctl#0: finished processing RESET
62400:00:00.367072 PIIX3 ATA: Ctl#1: finished processing RESET
62500:00:00.367159 IntNet#0: szNetwork={HostInterfaceNetworking-vboxnet0} enmTrunkType=3 szTrunk={vboxnet0} fFlags=0x8000 cbRecv=325632 cbSend=196608 fIgnoreConnectFailure=false
62600:00:00.367388 Audio: Initializing PulseAudio driver
62700:00:00.367393 Audio: Using VBox 5.0.x audio code!
62800:00:00.370424 Audio: Host audio backend supports 64 output streams and 64 input streams at once
62900:00:00.370449 Audio: Initializing VRDE driver
63000:00:00.370453 Audio: Using VBox 5.0.x audio code!
63100:00:00.370457 Audio: Host audio backend supports 1 output streams and 2 input streams at once
63200:00:00.370463 AC97: Reset
63300:00:00.375235 VUSB: Attached 'HidMouse' to port 1
63400:00:00.375307 PGM: The CPU physical address width is 39 bits
63500:00:00.375313 PGM: PGMR3InitFinalize: 4 MB PSE mask 0000007fffffffff
63600:00:00.375341 TM: TMR3InitFinalize: fTSCModeSwitchAllowed=false
63700:00:00.378595 VMM: Enabled thread-context hooks
63800:00:00.378617 HM: Using VT-x implementation 2.0
63900:00:00.378618 HM: Host CR4 = 0x3406f0
64000:00:00.378620 HM: Host EFER = 0xd01
64100:00:00.378621 HM: MSR_IA32_SMM_MONITOR_CTL = 0x0
64200:00:00.378622 HM: MSR_IA32_FEATURE_CONTROL = 0x5
64300:00:00.378623 HM: MSR_IA32_VMX_BASIC_INFO = 0xda040000000004
64400:00:00.378624 HM: VMCS id = 0x4
64500:00:00.378625 HM: VMCS size = 1024 bytes
64600:00:00.378626 HM: VMCS physical address limit = None
64700:00:00.378627 HM: VMCS memory type = 0x6
64800:00:00.378627 HM: Dual-monitor treatment support = true
64900:00:00.378628 HM: OUTS & INS instruction-info = true
65000:00:00.378629 HM: Max resume loops = 8192
65100:00:00.378630 HM: MSR_IA32_VMX_PINBASED_CTLS = 0x7f00000016
65200:00:00.378688 HM: EXT_INT_EXIT
65300:00:00.378689 HM: NMI_EXIT
65400:00:00.378689 HM: VIRTUAL_NMI
65500:00:00.378690 HM: PREEMPT_TIMER
65600:00:00.378690 HM: POSTED_INTR (must be cleared)
65700:00:00.378691 HM: MSR_IA32_VMX_PROCBASED_CTLS = 0xfff9fffe0401e172
65800:00:00.378692 HM: INT_WINDOW_EXIT
65900:00:00.378692 HM: USE_TSC_OFFSETTING
66000:00:00.378693 HM: HLT_EXIT
66100:00:00.378693 HM: INVLPG_EXIT
66200:00:00.378694 HM: MWAIT_EXIT
66300:00:00.378694 HM: RDPMC_EXIT
66400:00:00.378695 HM: RDTSC_EXIT
66500:00:00.378695 HM: CR3_LOAD_EXIT (must be set)
66600:00:00.378695 HM: CR3_STORE_EXIT (must be set)
66700:00:00.378696 HM: CR8_LOAD_EXIT
66800:00:00.378696 HM: CR8_STORE_EXIT
66900:00:00.378697 HM: USE_TPR_SHADOW
67000:00:00.378697 HM: NMI_WINDOW_EXIT
67100:00:00.378698 HM: MOV_DR_EXIT
67200:00:00.378698 HM: UNCOND_IO_EXIT
67300:00:00.378699 HM: USE_IO_BITMAPS
67400:00:00.378699 HM: MONITOR_TRAP_FLAG
67500:00:00.378699 HM: USE_MSR_BITMAPS
67600:00:00.378700 HM: MONITOR_EXIT
67700:00:00.378700 HM: PAUSE_EXIT
67800:00:00.378701 HM: USE_SECONDARY_EXEC_CTRL
67900:00:00.378701 HM: MSR_IA32_VMX_PROCBASED_CTLS2 = 0x1ffcff00000000
68000:00:00.378702 HM: VIRT_APIC
68100:00:00.378703 HM: EPT
68200:00:00.378703 HM: DESCRIPTOR_TABLE_EXIT
68300:00:00.378704 HM: RDTSCP
68400:00:00.378704 HM: VIRT_X2APIC
68500:00:00.378705 HM: VPID
68600:00:00.378705 HM: WBINVD_EXIT
68700:00:00.378706 HM: UNRESTRICTED_GUEST
68800:00:00.378706 HM: APIC_REG_VIRT (must be cleared)
68900:00:00.378706 HM: VIRT_INTR_DELIVERY (must be cleared)
69000:00:00.378707 HM: PAUSE_LOOP_EXIT
69100:00:00.378707 HM: RDRAND_EXIT
69200:00:00.378708 HM: INVPCID
69300:00:00.378708 HM: VMFUNC
69400:00:00.378709 HM: VMCS_SHADOWING
69500:00:00.378709 HM: ENCLS_EXIT
69600:00:00.378710 HM: RDSEED_EXIT
69700:00:00.378710 HM: PML
69800:00:00.378711 HM: EPT_VE
69900:00:00.378711 HM: CONCEAL_FROM_PT
70000:00:00.378711 HM: XSAVES_XRSTORS
70100:00:00.378712 HM: TSC_SCALING (must be cleared)
70200:00:00.378712 HM: MSR_IA32_VMX_ENTRY_CTLS = 0x3ffff000011ff
70300:00:00.378714 HM: LOAD_DEBUG (must be set)
70400:00:00.378714 HM: IA32E_MODE_GUEST
70500:00:00.378715 HM: ENTRY_SMM
70600:00:00.378715 HM: DEACTIVATE_DUALMON
70700:00:00.378715 HM: LOAD_GUEST_PERF_MSR
70800:00:00.378716 HM: LOAD_GUEST_PAT_MSR
70900:00:00.378716 HM: LOAD_GUEST_EFER_MSR
71000:00:00.378717 HM: MSR_IA32_VMX_EXIT_CTLS = 0x1ffffff00036dff
71100:00:00.378718 HM: SAVE_DEBUG (must be set)
71200:00:00.378718 HM: HOST_ADDR_SPACE_SIZE
71300:00:00.378719 HM: LOAD_PERF_MSR
71400:00:00.378719 HM: ACK_EXT_INT
71500:00:00.378720 HM: SAVE_GUEST_PAT_MSR
71600:00:00.378720 HM: LOAD_HOST_PAT_MSR
71700:00:00.378720 HM: SAVE_GUEST_EFER_MSR
71800:00:00.378721 HM: LOAD_HOST_EFER_MSR
71900:00:00.378721 HM: SAVE_VMX_PREEMPT_TIMER
72000:00:00.378722 HM: MSR_IA32_VMX_EPT_VPID_CAP = 0xf0106334141
72100:00:00.378723 HM: RWX_X_ONLY
72200:00:00.378723 HM: PAGE_WALK_LENGTH_4
72300:00:00.378724 HM: EMT_UC
72400:00:00.378724 HM: EMT_WB
72500:00:00.378725 HM: PDE_2M
72600:00:00.378725 HM: PDPTE_1G
72700:00:00.378726 HM: INVEPT
72800:00:00.378726 HM: EPT_ACCESS_DIRTY
72900:00:00.378727 HM: INVEPT_SINGLE_CONTEXT
73000:00:00.378727 HM: INVEPT_ALL_CONTEXTS
73100:00:00.378728 HM: INVVPID
73200:00:00.378728 HM: INVVPID_INDIV_ADDR
73300:00:00.378729 HM: INVVPID_SINGLE_CONTEXT
73400:00:00.378729 HM: INVVPID_ALL_CONTEXTS
73500:00:00.378729 HM: INVVPID_SINGLE_CONTEXT_RETAIN_GLOBALS
73600:00:00.378730 HM: MSR_IA32_VMX_MISC = 0x7004c1e7
73700:00:00.378731 HM: PREEMPT_TSC_BIT = 0x7
73800:00:00.378731 HM: STORE_EFERLMA_VMEXIT = true
73900:00:00.378732 HM: ACTIVITY_STATES = 0x7
74000:00:00.378733 HM: CR3_TARGET = 0x4
74100:00:00.378733 HM: MAX_MSR = 512
74200:00:00.378734 HM: RDMSR_SMBASE_MSR_SMM = true
74300:00:00.378734 HM: SMM_MONITOR_CTL_B2 = true
74400:00:00.378735 HM: VMWRITE_VMEXIT_INFO = true
74500:00:00.378736 HM: MSEG_ID = 0x0
74600:00:00.378736 HM: MSR_IA32_VMX_CR0_FIXED0 = 0x80000021
74700:00:00.378737 HM: MSR_IA32_VMX_CR0_FIXED1 = 0xffffffff
74800:00:00.378738 HM: MSR_IA32_VMX_CR4_FIXED0 = 0x2000
74900:00:00.378739 HM: MSR_IA32_VMX_CR4_FIXED1 = 0x3727ff
75000:00:00.378739 HM: MSR_IA32_VMX_VMCS_ENUM = 0x2e
75100:00:00.378740 HM: HIGHEST_INDEX = 0x17
75200:00:00.378741 HM: MSR_IA32_VMX_VMFUNC = 0x1
75300:00:00.378741 HM: EPTP_SWITCHING
75400:00:00.378742 HM: APIC-access page physaddr = 0x0000000012b3e000
75500:00:00.378743 HM: VCPU 0: MSR bitmap physaddr = 0x000000000bdc1000
75600:00:00.378744 HM: VCPU 0: VMCS physaddr = 0x0000000012b3f000
75700:00:00.378745 HM: Guest support: 32-bit and 64-bit
75800:00:00.378749 HM: Supports VMCS EFER fields = true
75900:00:00.378749 HM: Enabled VMX
76000:00:00.378752 CPUM: SetGuestCpuIdFeature: Enabled SYSENTER/EXIT
76100:00:00.378753 CPUM: SetGuestCpuIdFeature: Enabled PAE
76200:00:00.378753 CPUM: SetGuestCpuIdFeature: Enabled LONG MODE
76300:00:00.378754 CPUM: SetGuestCpuIdFeature: Enabled SYSCALL/RET
76400:00:00.378754 CPUM: SetGuestCpuIdFeature: Enabled LAHF/SAHF
76500:00:00.378755 CPUM: SetGuestCpuIdFeature: Enabled NX
76600:00:00.378755 HM: Enabled nested paging
76700:00:00.378756 HM: EPT flush type = VMXFLUSHEPT_SINGLE_CONTEXT
76800:00:00.378756 HM: Enabled unrestricted guest execution
76900:00:00.378757 HM: Enabled VPID
77000:00:00.378757 HM: VPID flush type = VMXFLUSHVPID_SINGLE_CONTEXT
77100:00:00.378758 HM: Enabled VMX-preemption timer (cPreemptTimerShift=7)
77200:00:00.378759 HM: VT-x/AMD-V init method: GLOBAL
77300:00:00.378760 CPUM: VCPU 0: Cached APIC base MSR = 0xfee00900
77400:00:00.378777 VMM: fUsePeriodicPreemptionTimers=false
77500:00:00.379248 CPUM: Logical host processors: 4 present, 4 max, 4 online, online mask: 000000000000000f
77600:00:00.379286 CPUM: Physical host cores: 4
77700:00:00.379287 ************************* CPUID dump ************************
77800:00:00.379298 Raw Standard CPUID Leaves
77900:00:00.379299 Leaf/sub-leaf eax ebx ecx edx
78000:00:00.379300 Gst: 00000000/0000 00000016 756e6547 6c65746e 49656e69
78100:00:00.379302 Hst: 00000016 756e6547 6c65746e 49656e69
78200:00:00.379303 Gst: 00000001/0000 000506e3 00000800 56d8220b 078bfbff
78300:00:00.379305 Hst: 000506e3 02100800 7ffafbbf bfebfbff
78400:00:00.379307 Gst: 00000002/0000 76036301 00f0b6ff 00000000 00c30000
78500:00:00.379308 Hst: 76036301 00f0b6ff 00000000 00c30000
78600:00:00.379310 Gst: 00000003/0000 00000000 00000000 00000000 00000000
78700:00:00.379311 Hst: 00000000 00000000 00000000 00000000
78800:00:00.379312 Gst: 00000004/0000 00000121 01c0003f 0000003f 00000000
78900:00:00.379313 Hst: 1c004121 01c0003f 0000003f 00000000
79000:00:00.379314 Gst: 00000004/0001 00000122 01c0003f 0000003f 00000000
79100:00:00.379315 Hst: 1c004122 01c0003f 0000003f 00000000
79200:00:00.379316 Gst: 00000004/0002 00000143 00c0003f 000003ff 00000000
79300:00:00.379317 Hst: 1c004143 00c0003f 000003ff 00000000
79400:00:00.379319 Gst: 00000004/0003 00000163 02c0003f 00001fff 00000006
79500:00:00.379320 Hst: 1c03c163 02c0003f 00001fff 00000006
79600:00:00.379321 Gst: 00000004/0004 00000000 00000000 00000000 00000000
79700:00:00.379322 Hst: 00000000 00000000 00000000 00000000
79800:00:00.379323 Gst: 00000005/0000 00000040 00000040 00000000 00000000
79900:00:00.379324 Hst: 00000040 00000040 00000003 00142120
80000:00:00.379326 Gst: 00000006/0000 00000000 00000000 00000000 00000000
80100:00:00.379326 Hst: 000027f7 00000002 00000001 00000000
80200:00:00.379327 Gst: 00000007/0000 00000000 00842000 00000000 00000000
80300:00:00.379328 Hst: 00000000 029c67af 00000000 00000000
80400:00:00.379329 Gst: 00000007/0001 00000000 00000000 00000000 00000000
80500:00:00.379330 Hst: 00000000 00000000 00000000 00000000
80600:00:00.379331 Gst: 00000008/0000 00000000 00000000 00000000 00000000
80700:00:00.379332 Hst: 00000000 00000000 00000000 00000000
80800:00:00.379333 Gst: 00000009/0000 00000000 00000000 00000000 00000000
80900:00:00.379334 Hst: 00000000 00000000 00000000 00000000
81000:00:00.379335 Gst: 0000000a/0000 00000000 00000000 00000000 00000000
81100:00:00.379335 Hst: 07300804 00000000 00000000 00000603
81200:00:00.379337 Gst: 0000000b/0000 00000000 00000001 00000100 00000000
81300:00:00.379337 Hst: 00000001 00000001 00000100 00000002
81400:00:00.379338 Gst: 0000000b/0001 00000001 00000001 00000201 00000000
81500:00:00.379339 Hst: 00000004 00000004 00000201 00000002
81600:00:00.379340 Gst: 0000000b/0002 00000000 00000000 00000002 00000000
81700:00:00.379341 Hst: 00000000 00000000 00000002 00000002
81800:00:00.379342 Gst: 0000000c/0000 00000000 00000000 00000000 00000000
81900:00:00.379343 Hst: 00000000 00000000 00000000 00000000
82000:00:00.379344 Gst: 0000000d/0000 00000007 00000440 00000440 00000000
82100:00:00.379345 Hst: 0000001f 00000440 00000440 00000000
82200:00:00.379346 Gst: 0000000d/0001 00000000 000003c0 00000000 00000000
82300:00:00.379347 Hst: 0000000f 000003c0 00000100 00000000
82400:00:00.379348 Gst: 0000000d/0002 00000100 00000240 00000000 00000000
82500:00:00.379348 Hst: 00000100 00000240 00000000 00000000
82600:00:00.379350 Gst: 0000000d/0003 00000000 00000000 00000000 00000000
82700:00:00.379350 Hst: 00000040 000003c0 00000000 00000000
82800:00:00.379351 Gst: 0000000d/0004 00000000 00000000 00000000 00000000
82900:00:00.379352 Hst: 00000040 00000400 00000000 00000000
83000:00:00.379353 Gst: 0000000d/0005 00000000 00000000 00000000 00000000
83100:00:00.379354 Hst: 00000000 00000000 00000000 00000000
83200:00:00.379355 Gst: 0000000d/0006 00000000 00000000 00000000 00000000
83300:00:00.379356 Hst: 00000000 00000000 00000000 00000000
83400:00:00.379357 Gst: 0000000d/0007 00000000 00000000 00000000 00000000
83500:00:00.379357 Hst: 00000000 00000000 00000000 00000000
83600:00:00.379358 Gst: 0000000d/0008 00000000 00000000 00000000 00000000
83700:00:00.379359 Hst: 00000080 00000000 00000001 00000000
83800:00:00.379360 Gst: 0000000d/0009 00000000 00000000 00000000 00000000
83900:00:00.379361 Hst: 00000000 00000000 00000000 00000000
84000:00:00.379385 Gst: 0000000e/0000 00000000 00000000 00000000 00000000
84100:00:00.379386 Hst: 00000000 00000000 00000000 00000000
84200:00:00.379387 Gst: 0000000f/0000 00000000 00000000 00000000 00000000
84300:00:00.379388 Hst: 00000000 00000000 00000000 00000000
84400:00:00.379389 Gst: 00000010/0000 00000000 00000000 00000000 00000000
84500:00:00.379390 Hst: 00000000 00000000 00000000 00000000
84600:00:00.379391 Gst: 00000011/0000 00000000 00000000 00000000 00000000
84700:00:00.379391 Hst: 00000000 00000000 00000000 00000000
84800:00:00.379392 Gst: 00000012/0000 00000000 00000000 00000000 00000000
84900:00:00.379393 Hst: 00000000 00000000 00000000 00000000
85000:00:00.379394 Gst: 00000013/0000 00000000 00000000 00000000 00000000
85100:00:00.379395 Hst: 00000000 00000000 00000000 00000000
85200:00:00.379396 Gst: 00000014/0000 00000000 00000000 00000000 00000000
85300:00:00.379397 Hst: 00000001 0000000f 00000007 00000000
85400:00:00.379398 Hst: 00000015/0000 00000002 000000e2 00000000 00000000
85500:00:00.379399 Hst: 00000016/0000 00000a8c 00000ce4 00000064 00000000
85600:00:00.379401 Name: GenuineIntel
85700:00:00.379402 Supports: 0x00000000-0x00000016
85800:00:00.379403 Family: 6 Extended: 0 Effective: 6
85900:00:00.379405 Model: 14 Extended: 5 Effective: 94
86000:00:00.379406 Stepping: 3
86100:00:00.379407 Type: 0 (primary)
86200:00:00.379408 APIC ID: 0x00
86300:00:00.379409 Logical CPUs: 0
86400:00:00.379410 CLFLUSH Size: 8
86500:00:00.379411 Brand ID: 0x00
86600:00:00.379412 Features
86700:00:00.379413 Mnemonic - Description = guest (host)
86800:00:00.379413 FPU - x87 FPU on Chip = 1 (1)
86900:00:00.379415 VME - Virtual 8086 Mode Enhancements = 1 (1)
87000:00:00.379416 DE - Debugging extensions = 1 (1)
87100:00:00.379418 PSE - Page Size Extension = 1 (1)
87200:00:00.379419 TSC - Time Stamp Counter = 1 (1)
87300:00:00.379420 MSR - Model Specific Registers = 1 (1)
87400:00:00.379421 PAE - Physical Address Extension = 1 (1)
87500:00:00.379422 MCE - Machine Check Exception = 1 (1)
87600:00:00.379423 CX8 - CMPXCHG8B instruction = 1 (1)
87700:00:00.379424 APIC - APIC On-Chip = 1 (1)
87800:00:00.379426 SEP - SYSENTER and SYSEXIT Present = 1 (1)
87900:00:00.379427 MTRR - Memory Type Range Registers = 1 (1)
88000:00:00.379428 PGE - PTE Global Bit = 1 (1)
88100:00:00.379429 MCA - Machine Check Architecture = 1 (1)
88200:00:00.379430 CMOV - Conditional Move instructions = 1 (1)
88300:00:00.379431 PAT - Page Attribute Table = 1 (1)
88400:00:00.379432 PSE-36 - 36-bit Page Size Extension = 1 (1)
88500:00:00.379433 PSN - Processor Serial Number = 0 (0)
88600:00:00.379434 CLFSH - CLFLUSH instruction = 1 (1)
88700:00:00.379435 DS - Debug Store = 0 (1)
88800:00:00.379437 ACPI - Thermal Mon. & Soft. Clock Ctrl. = 0 (1)
88900:00:00.379438 MMX - Intel MMX Technology = 1 (1)
89000:00:00.379439 FXSR - FXSAVE and FXRSTOR instructions = 1 (1)
89100:00:00.379440 SSE - SSE support = 1 (1)
89200:00:00.379441 SSE2 - SSE2 support = 1 (1)
89300:00:00.379442 SS - Self Snoop = 0 (1)
89400:00:00.379443 HTT - Hyper-Threading Technology = 0 (1)
89500:00:00.379445 TM - Therm. Monitor = 0 (1)
89600:00:00.379446 PBE - Pending Break Enabled = 0 (1)
89700:00:00.379447 SSE3 - SSE3 support = 1 (1)
89800:00:00.379448 PCLMUL - PCLMULQDQ support (for AES-GCM) = 1 (1)
89900:00:00.379449 DTES64 - DS Area 64-bit Layout = 0 (1)
90000:00:00.379450 MONITOR - MONITOR/MWAIT instructions = 1 (1)
90100:00:00.379451 CPL-DS - CPL Qualified Debug Store = 0 (1)
90200:00:00.379452 VMX - Virtual Machine Extensions = 0 (1)
90300:00:00.379454 SMX - Safer Mode Extensions = 0 (0)
90400:00:00.379455 EST - Enhanced SpeedStep Technology = 0 (1)
90500:00:00.379456 TM2 - Terminal Monitor 2 = 0 (1)
90600:00:00.379457 SSSE3 - Supplemental Streaming SIMD Extensions 3 = 1 (1)
90700:00:00.379458 CNTX-ID - L1 Context ID = 0 (0)
90800:00:00.379459 SDBG - Silicon Debug interface = 0 (1)
90900:00:00.379460 FMA - Fused Multiply Add extensions = 0 (1)
91000:00:00.379461 CX16 - CMPXCHG16B instruction = 1 (1)
91100:00:00.379462 TPRUPDATE - xTPR Update Control = 0 (1)
91200:00:00.379463 PDCM - Perf/Debug Capability MSR = 0 (1)
91300:00:00.379465 PCID - Process Context Identifiers = 0 (1)
91400:00:00.379466 DCA - Direct Cache Access = 0 (0)
91500:00:00.379467 SSE4_1 - SSE4_1 support = 1 (1)
91600:00:00.379468 SSE4_2 - SSE4_2 support = 1 (1)
91700:00:00.379469 X2APIC - x2APIC support = 0 (1)
91800:00:00.379470 MOVBE - MOVBE instruction = 1 (1)
91900:00:00.379471 POPCNT - POPCNT instruction = 1 (1)
92000:00:00.379473 TSCDEADL - Time Stamp Counter Deadline = 0 (1)
92100:00:00.379474 AES - AES instructions = 1 (1)
92200:00:00.379475 XSAVE - XSAVE instruction = 1 (1)
92300:00:00.379476 OSXSAVE - OSXSAVE instruction = 0 (1)
92400:00:00.379477 AVX - AVX support = 1 (1)
92500:00:00.379478 F16C - 16-bit floating point conversion instructions = 0 (1)
92600:00:00.379479 RDRAND - RDRAND instruction = 1 (1)
92700:00:00.379480 HVP - Hypervisor Present (we're a guest) = 0 (0)
92800:00:00.379481 Structured Extended Feature Flags Enumeration (leaf 7):
92900:00:00.379482 Mnemonic - Description = guest (host)
93000:00:00.379483 FSGSBASE - RDFSBASE/RDGSBASE/WRFSBASE/WRGSBASE instr. = 0 (1)
93100:00:00.379483 TSCADJUST - Supports MSR_IA32_TSC_ADJUST = 0 (1)
93200:00:00.379484 SGX - Supports Software Guard Extensions = 0 (1)
93300:00:00.379485 BMI1 - Advanced Bit Manipulation extension 1 = 0 (1)
93400:00:00.379486 HLE - Hardware Lock Elision = 0 (0)
93500:00:00.379488 AVX2 - Advanced Vector Extensions 2 = 0 (1)
93600:00:00.379489 FDP_EXCPTN_ONLY - FPU DP only updated on exceptions = 0 (0)
93700:00:00.379489 SMEP - Supervisor Mode Execution Prevention = 0 (1)
93800:00:00.379490 BMI2 - Advanced Bit Manipulation extension 2 = 0 (1)
93900:00:00.379491 ERMS - Enhanced REP MOVSB/STOSB instructions = 0 (1)
94000:00:00.379492 INVPCID - INVPCID instruction = 0 (1)
94100:00:00.379493 RTM - Restricted Transactional Memory = 0 (0)
94200:00:00.379494 PQM - Platform Quality of Service Monitoring = 0 (0)
94300:00:00.379495 DEPFPU_CS_DS - Deprecates FPU CS, FPU DS values if set = 1 (1)
94400:00:00.379496 MPE - Intel Memory Protection Extensions = 0 (1)
94500:00:00.379497 PQE - Platform Quality of Service Enforcement = 0 (0)
94600:00:00.379498 AVX512F - AVX512 Foundation instructions = 0 (0)
94700:00:00.379499 RDSEED - RDSEED instruction = 1 (1)
94800:00:00.379500 ADX - ADCX/ADOX instructions = 0 (1)
94900:00:00.379501 SMAP - Supervisor Mode Access Prevention = 0 (1)
95000:00:00.379502 CLFLUSHOPT - CLFLUSHOPT (Cache Line Flush) instruction = 1 (1)
95100:00:00.379503 INTEL_PT - Intel Processor Trace = 0 (1)
95200:00:00.379504 AVX512PF - AVX512 Prefetch instructions = 0 (0)
95300:00:00.379505 AVX512ER - AVX512 Exponential & Reciprocal instructions = 0 (0)
95400:00:00.379506 AVX512CD - AVX512 Conflict Detection instructions = 0 (0)
95500:00:00.379507 SHA - Secure Hash Algorithm extensions = 0 (0)
95600:00:00.379508 PREFETCHWT1 - PREFETCHWT1 instruction = 0 (0)
95700:00:00.379509 PKU - Protection Key for Usermode pages = 0 (0)
95800:00:00.379510 OSPKU - CR4.PKU mirror = 0 (0)
95900:00:00.379511 Processor Extended State Enumeration (leaf 0xd):
96000:00:00.379512 XSAVE area cur/max size by XCR0, guest: 0x440/0x440
96100:00:00.379513 XSAVE area cur/max size by XCR0, host: 0x440/0x440
96200:00:00.379514 Valid XCR0 bits, guest: 0x00000000`00000007 ( x87 SSE YMM_Hi128 )
96300:00:00.379516 Valid XCR0 bits, host: 0x00000000`0000001f ( x87 SSE YMM_Hi128 BNDREGS BNDCSR )
96400:00:00.379518 XSAVE features, guest:
96500:00:00.379519 XSAVE features, host: XSAVEOPT XSAVEC XGETBC1 XSAVES
96600:00:00.379521 XSAVE area cur size XCR0|XSS, guest: 0x3c0
96700:00:00.379522 XSAVE area cur size XCR0|XSS, host: 0x3c0
96800:00:00.379522 Valid IA32_XSS bits, guest: 0x00000000`00000000
96900:00:00.379523 Valid IA32_XSS bits, host: 0x00000100`00000000 ( 40 )
97000:00:00.379525 State #2, guest: off=0x0240, cb=0x0100 IA32_XSS-bit -- YMM_Hi128
97100:00:00.379527 State #2, host: off=0x0240, cb=0x0100 IA32_XSS-bit -- YMM_Hi128
97200:00:00.379529 State #3, host: off=0x03c0, cb=0x0040 IA32_XSS-bit -- BNDREGS
97300:00:00.379530 State #4, host: off=0x0400, cb=0x0040 IA32_XSS-bit -- BNDCSR
97400:00:00.379532 State #8, host: off=0x0000, cb=0x0080 XCR0-bit -- 8
97500:00:00.379544 Unknown CPUID Leaves
97600:00:00.379545 Leaf/sub-leaf eax ebx ecx edx
97700:00:00.379546 Gst: 00000014/0001 00000000 00000000 00000000 00000000
97800:00:00.379547 Hst: 02490002 003f3fff 00000000 00000000
97900:00:00.379548 Gst: 00000014/0002 00000000 00000000 00000000 00000000
98000:00:00.379549 Hst: 00000000 00000000 00000000 00000000
98100:00:00.379550 Gst: 00000015/0000 00000000 00000000 00000000 00000000
98200:00:00.379551 Hst: 00000002 000000e2 00000000 00000000
98300:00:00.379552 Gst: 00000016/0000 00000000 00000000 00000000 00000000
98400:00:00.379553 Hst: 00000a8c 00000ce4 00000064 00000000
98500:00:00.379555 Raw Extended CPUID Leaves
98600:00:00.379555 Leaf/sub-leaf eax ebx ecx edx
98700:00:00.379556 Gst: 80000000/0000 80000008 00000000 00000000 00000000
98800:00:00.379557 Hst: 80000008 00000000 00000000 00000000
98900:00:00.379558 Gst: 80000001/0000 00000000 00000000 00000121 28100800
99000:00:00.379559 Hst: 00000000 00000000 00000121 2c100800
99100:00:00.379561 Gst: 80000002/0000 65746e49 2952286c 726f4320 4d542865
99200:00:00.379563 Hst: 65746e49 2952286c 726f4320 4d542865
99300:00:00.379565 Gst: 80000003/0000 35692029 3034362d 50432030 20402055
99400:00:00.379566 Hst: 35692029 3034362d 50432030 20402055
99500:00:00.379568 Gst: 80000004/0000 30372e32 007a4847 00000000 00000000
99600:00:00.379570 Hst: 30372e32 007a4847 00000000 00000000
99700:00:00.379571 Gst: 80000005/0000 00000000 00000000 00000000 00000000
99800:00:00.379572 Hst: 00000000 00000000 00000000 00000000
99900:00:00.379573 Gst: 80000006/0000 00000000 00000000 01006040 00000000
100000:00:00.379574 Hst: 00000000 00000000 01006040 00000000
100100:00:00.379575 Gst: 80000007/0000 00000000 00000000 00000000 00000100
100200:00:00.379576 Hst: 00000000 00000000 00000000 00000100
100300:00:00.379577 Gst: 80000008/0000 00003027 00000000 00000000 00000000
100400:00:00.379578 Hst: 00003027 00000000 00000000 00000000
100500:00:00.379579 Ext Name:
100600:00:00.379580 Ext Supports: 0x80000000-0x80000008
100700:00:00.379581 Family: 0 Extended: 0 Effective: 0
100800:00:00.379581 Model: 0 Extended: 0 Effective: 0
100900:00:00.379582 Stepping: 0
101000:00:00.379583 Brand ID: 0x000
101100:00:00.379583 Ext Features
101200:00:00.379584 Mnemonic - Description = guest (host)
101300:00:00.379584 FPU - x87 FPU on Chip = 0 (0)
101400:00:00.379586 VME - Virtual 8086 Mode Enhancements = 0 (0)
101500:00:00.379587 DE - Debugging extensions = 0 (0)
101600:00:00.379588 PSE - Page Size Extension = 0 (0)
101700:00:00.379589 TSC - Time Stamp Counter = 0 (0)
101800:00:00.379590 MSR - K86 Model Specific Registers = 0 (0)
101900:00:00.379591 PAE - Physical Address Extension = 0 (0)
102000:00:00.379592 MCE - Machine Check Exception = 0 (0)
102100:00:00.379593 CX8 - CMPXCHG8B instruction = 0 (0)
102200:00:00.379595 APIC - APIC On-Chip = 0 (0)
102300:00:00.379596 SEP - SYSCALL/SYSRET = 1 (1)
102400:00:00.379597 MTRR - Memory Type Range Registers = 0 (0)
102500:00:00.379598 PGE - PTE Global Bit = 0 (0)
102600:00:00.379600 MCA - Machine Check Architecture = 0 (0)
102700:00:00.379601 CMOV - Conditional Move instructions = 0 (0)
102800:00:00.379602 PAT - Page Attribute Table = 0 (0)
102900:00:00.379603 PSE-36 - 36-bit Page Size Extension = 0 (0)
103000:00:00.379604 NX - No-Execute/Execute-Disable = 1 (1)
103100:00:00.379605 AXMMX - AMD Extensions to MMX instructions = 0 (0)
103200:00:00.379606 MMX - Intel MMX Technology = 0 (0)
103300:00:00.379607 FXSR - FXSAVE and FXRSTOR Instructions = 0 (0)
103400:00:00.379608 FFXSR - AMD fast FXSAVE and FXRSTOR instructions = 0 (0)
103500:00:00.379609 Page1GB - 1 GB large page = 0 (1)
103600:00:00.379610 RDTSCP - RDTSCP instruction = 1 (1)
103700:00:00.379611 LM - AMD64 Long Mode = 1 (1)
103800:00:00.379612 3DNOWEXT - AMD Extensions to 3DNow = 0 (0)
103900:00:00.379613 3DNOW - AMD 3DNow = 0 (0)
104000:00:00.379614 LahfSahf - LAHF/SAHF support in 64-bit mode = 1 (1)
104100:00:00.379615 CmpLegacy - Core multi-processing legacy mode = 0 (0)
104200:00:00.379616 SVM - AMD VM extensions = 0 (0)
104300:00:00.379617 EXTAPIC - AMD Extended APIC registers = 0 (0)
104400:00:00.379618 CR8L - AMD LOCK MOV CR0 means MOV CR8 = 0 (0)
104500:00:00.379619 ABM - AMD Advanced Bit Manipulation = 1 (1)
104600:00:00.379620 SSE4A - SSE4A instructions = 0 (0)
104700:00:00.379622 MISALIGNSSE - AMD Misaligned SSE mode = 0 (0)
104800:00:00.379623 3DNOWPRF - AMD PREFETCH and PREFETCHW instructions = 1 (1)
104900:00:00.379623 OSVW - AMD OS Visible Workaround = 0 (0)
105000:00:00.379624 IBS - Instruct Based Sampling = 0 (0)
105100:00:00.379626 XOP - Extended Operation support = 0 (0)
105200:00:00.379627 SKINIT - SKINIT, STGI, and DEV support = 0 (0)
105300:00:00.379628 WDT - AMD Watchdog Timer support = 0 (0)
105400:00:00.379629 LWP - Lightweight Profiling support = 0 (0)
105500:00:00.379630 FMA4 - Four operand FMA instruction support = 0 (0)
105600:00:00.379631 NodeId - NodeId in MSR C001_100C = 0 (0)
105700:00:00.379632 TBM - Trailing Bit Manipulation instructions = 0 (0)
105800:00:00.379633 TOPOEXT - Topology Extensions = 0 (0)
105900:00:00.379634 Full Name: "Intel(R) Core(TM) i5-6400 CPU @ 2.70GHz"
106000:00:00.379635 TLB 2/4M Instr/Uni: res0 0 entries
106100:00:00.379635 TLB 2/4M Data: res0 0 entries
106200:00:00.379636 TLB 4K Instr/Uni: res0 0 entries
106300:00:00.379637 TLB 4K Data: res0 0 entries
106400:00:00.379637 L1 Instr Cache Line Size: 0 bytes
106500:00:00.379638 L1 Instr Cache Lines Per Tag: 0
106600:00:00.379638 L1 Instr Cache Associativity: res0
106700:00:00.379639 L1 Instr Cache Size: 0 KB
106800:00:00.379640 L1 Data Cache Line Size: 0 bytes
106900:00:00.379640 L1 Data Cache Lines Per Tag: 0
107000:00:00.379640 L1 Data Cache Associativity: res0
107100:00:00.379641 L1 Data Cache Size: 0 KB
107200:00:00.379642 L2 TLB 2/4M Instr/Uni: off 0 entries
107300:00:00.379642 L2 TLB 2/4M Data: off 0 entries
107400:00:00.379643 L2 TLB 4K Instr/Uni: off 0 entries
107500:00:00.379643 L2 TLB 4K Data: off 0 entries
107600:00:00.379644 L2 Cache Line Size: 0 bytes
107700:00:00.379644 L2 Cache Lines Per Tag: 0
107800:00:00.379645 L2 Cache Associativity: off
107900:00:00.379645 L2 Cache Size: 0 KB
108000:00:00.379646 APM Features: TscInvariant
108100:00:00.379647 Host Invariant-TSC support: true
108200:00:00.379648 Physical Address Width: 39 bits
108300:00:00.379649 Virtual Address Width: 48 bits
108400:00:00.379649 Guest Physical Address Width: 0 bits
108500:00:00.379650 Physical Core Count: 1
108600:00:00.379652
108700:00:00.379652 ******************** End of CPUID dump **********************
108800:00:00.383236 SUP: Loaded VBoxEhciR0.r0 (/usr/lib/virtualbox/ExtensionPacks/Oracle_VM_VirtualBox_Extension_Pack/linux.amd64/VBoxEhciR0.r0) at 0xffffffffc0008020 - ModuleInit at 0000000000000000 and ModuleTerm at 0000000000000000
108900:00:00.383263 PcBios: ATA LUN#0 LCHS=783/255/63
109000:00:00.383267 PcBios: ATA LUN#1 LCHS=520/64/63
109100:00:00.383281 APIC: fPostedIntrsEnabled=false fVirtApicRegsEnabled=false fSupportsTscDeadline=false
109200:00:00.383295 VMEmt: Halt method global1 (5)
109300:00:00.383300 VMEmt: HaltedGlobal1 config: cNsSpinBlockThresholdCfg=2000
109400:00:00.383305 Changing the VM state from 'CREATING' to 'CREATED'
109500:00:00.385644 Changing the VM state from 'CREATED' to 'POWERING_ON'
109600:00:00.385715 Changing the VM state from 'POWERING_ON' to 'RUNNING'
109700:00:00.385720 Console: Machine state changed to 'Running'
109800:00:00.386618 VMMDev: Guest Log: BIOS: VirtualBox 5.1.10
109900:00:00.388037 PIT: mode=2 count=0x10000 (65536) - 18.20 Hz (ch=0)
110000:00:00.391095 Display::handleDisplayResize: uScreenId=0 pvVRAM=0000000000000000 w=720 h=400 bpp=0 cbLine=0x0 flags=0x1
110100:00:00.391156 GUI: UIFrameBufferPrivate::NotifyChange: Screen=0, Origin=0x0, Size=720x400, Sending to async-handler
110200:00:00.391178 GUI: UIMachineView::sltHandleNotifyChange: Screen=0, Size=720x400
110300:00:00.391188 GUI: UIFrameBufferPrivate::handleNotifyChange: Size=720x400
110400:00:00.391192 GUI: UIFrameBufferPrivate::performResize: Size=720x400, Directly using source bitmap content
110500:00:00.399847 PIIX3 ATA: Ctl#0: RESET, DevSel=0 AIOIf=0 CmdIf0=0x00 (-1 usec ago) CmdIf1=0x00 (-1 usec ago)
110600:00:00.399903 PIIX3 ATA: Ctl#0: finished processing RESET
110700:00:00.400164 VMMDev: Guest Log: BIOS: ata0-0: PCHS=12483/16/63 LCHS=783/255/63
110800:00:00.400588 PIIX3 ATA: Ctl#0: RESET, DevSel=1 AIOIf=0 CmdIf0=0xec (-1 usec ago) CmdIf1=0x00 (-1 usec ago)
110900:00:00.400626 PIIX3 ATA: Ctl#0: finished processing RESET
111000:00:00.400873 VMMDev: Guest Log: BIOS: ata0-1: PCHS=2080/16/63 LCHS=520/64/63
111100:00:00.401292 PIIX3 ATA: Ctl#1: RESET, DevSel=0 AIOIf=0 CmdIf0=0x00 (-1 usec ago) CmdIf1=0x00 (-1 usec ago)
111200:00:00.401332 PIIX3 ATA: Ctl#1: finished processing RESET
111300:00:00.407048 PIT: mode=2 count=0x48d3 (18643) - 64.00 Hz (ch=0)
111400:00:00.413705 Display::handleDisplayResize: uScreenId=0 pvVRAM=00007fc198022000 w=640 h=480 bpp=32 cbLine=0xA00 flags=0x1
111500:00:00.413757 GUI: UIFrameBufferPrivate::NotifyChange: Screen=0, Origin=0x0, Size=640x480, Sending to async-handler
111600:00:00.413813 GUI: UIMachineView::sltHandleNotifyChange: Screen=0, Size=640x480
111700:00:00.413824 GUI: UIFrameBufferPrivate::handleNotifyChange: Size=640x480
111800:00:00.413899 GUI: UIFrameBufferPrivate::performResize: Size=640x480, Directly using source bitmap content
111900:00:00.618330 GUI: UIMachineLogicFullscreen: Additions-state actual-change event, rebuild multi-screen layout
112000:00:00.621210 GUI: UIMultiScreenLayout::update: GUI/AutomountGuestScreens is disabled
112100:00:00.622075 GUI: 2D video acceleration is disabled
112200:00:00.622102 GUI: HID LEDs sync is not supported on this platform
112300:00:02.881688 Display::handleDisplayResize: uScreenId=0 pvVRAM=0000000000000000 w=720 h=400 bpp=0 cbLine=0x0 flags=0x1
112400:00:02.881845 GUI: UIFrameBufferPrivate::NotifyChange: Screen=0, Origin=0x0, Size=720x400, Sending to async-handler
112500:00:02.881956 GUI: UIMachineView::sltHandleNotifyChange: Screen=0, Size=720x400
112600:00:02.881994 GUI: UIFrameBufferPrivate::handleNotifyChange: Size=720x400
112700:00:02.882026 GUI: UIFrameBufferPrivate::performResize: Size=720x400, Directly using source bitmap content
112800:00:02.909393 PIT: mode=2 count=0x10000 (65536) - 18.20 Hz (ch=0)
112900:00:02.909955 VMMDev: Guest Log: BIOS: Boot : bseqnr=1, bootseq=0023
113000:00:02.910717 VMMDev: Guest Log: BIOS: CDROM boot failure code : 0004
113100:00:02.911105 VMMDev: Guest Log: BIOS: Boot from CD-ROM failed
113200:00:02.911466 VMMDev: Guest Log: BIOS: Boot : bseqnr=2, bootseq=0002
113300:00:02.911888 VMMDev: Guest Log: BIOS: Booting from Hard Disk...
113400:00:03.037020 VMMDev: Guest Log: int13_harddisk: function 15, unmapped device for ELDL=82
113500:00:03.095787 PIT: mode=2 count=0x2ead (11949) - 99.85 Hz (ch=0)
113600:00:03.104549 APIC0: Switched mode to disabled
113700:00:03.110607 Display::handleDisplayResize: uScreenId=0 pvVRAM=00007fc198022000 w=640 h=480 bpp=0 cbLine=0x140 flags=0x1
113800:00:03.110652 GUI: UIFrameBufferPrivate::NotifyChange: Screen=0, Origin=0x0, Size=640x480, Sending to async-handler
113900:00:03.110719 GUI: UIMachineView::sltHandleNotifyChange: Screen=0, Size=640x480
114000:00:03.110728 GUI: UIFrameBufferPrivate::handleNotifyChange: Size=640x480
114100:00:03.110736 GUI: UIFrameBufferPrivate::performResize: Size=640x480, Directly using source bitmap content
114200:00:03.651449 PIIX3 ATA: LUN#0: IDLE IMMEDIATE, CmdIf=0xef (-1 usec ago)
114300:00:03.651464 PIIX3 ATA: LUN#0: aborting current command
114400:00:03.651593 PIIX3 ATA: LUN#1: IDLE IMMEDIATE, CmdIf=0xef (-1 usec ago)
114500:00:03.651611 PIIX3 ATA: LUN#1: aborting current command
114600:00:04.428279 VMMDev: Guest Log: VBoxGuest: Windows version 5.1, build 2600
114700:00:04.430722 VMMDev: Guest Additions information report: Version 5.1.10 r112026 '5.1.10'
114800:00:04.430775 VMMDev: Guest Additions information report: Interface = 0x00010004 osType = 0x00033000 (Windows XP, 32-bit)
114900:00:04.430867 VMMDev: Guest Additions capability report: (0x0 -> 0x0) seamless: no, hostWindowMapping: no, graphics: no
115000:00:04.430990 VMMDev: Guest reported fixed hypervisor window at 000f7400000 LB 0x800000 (rc=VINF_SUCCESS)
115100:00:04.431008 GUI: UISession::sltAdditionsChange: GA state change event came, notifying listeners.
115200:00:04.431048 VMMDev: vmmDevReqHandler_HeartbeatConfigure: No change (fHeartbeatActive=false).
115300:00:04.431067 GUI: UISession::sltAdditionsChange: GA state change event came, notifying listeners.
115400:00:04.431097 VMMDev: Heartbeat flatline timer set to trigger after 4 000 000 000 ns
115500:00:04.431249 GUI: UISession::sltAdditionsChange: GA state really changed, notifying listeners.
115600:00:04.431257 GUI: UIMachineLogicFullscreen: Additions-state actual-change event, rebuild multi-screen layout
115700:00:04.432638 GUI: UIMultiScreenLayout::update: GUI/AutomountGuestScreens is disabled
115800:00:04.432681 GUI: UIMachineViewFullscreen::adjustGuestScreenSize: Adjust guest-screen size if necessary.
115900:00:04.432688 GUI: UISession::sltAdditionsChange: GA state change event came, notifying listeners.
116000:00:04.739166 VMMDev: Guest Log: VBoxMP::DriverEntry: VBox XPDM Driver for Windows version 5.1.10r112026, 32 bit; Built Nov 21 2016 16:44:55
116100:00:04.763435 VMMDev: Guest Log: VBoxMP::VBoxDrvFindAdapter: using HGSMI
116200:00:04.766138 PCNet#0: Init: ss32=1 GCRDRA=0x02422420[64] GCTDRA=0x02422020[64]
116300:00:05.780075 AC97: Reset
116400:00:05.789394 OHCI: Software reset
116500:00:05.789757 OHCI: USB Reset
116600:00:05.790000 OHCI: USB Operational
116700:00:05.855156 EHCI: Hardware reset
116800:00:05.855617 EHCI: USB Operational
116900:00:05.998097 PCNet#0: Init: ss32=1 GCRDRA=0x02422420[64] GCTDRA=0x02422020[64]
117000:00:06.160540 Display::handleDisplayResize: uScreenId=0 pvVRAM=00007fc198022000 w=1920 h=1200 bpp=32 cbLine=0x1E00 flags=0x1
117100:00:06.160580 GUI: UIFrameBufferPrivate::NotifyChange: Screen=0, Origin=0x0, Size=1920x1200, Sending to async-handler
117200:00:06.160651 GUI: UIMachineView::sltHandleNotifyChange: Screen=0, Size=1920x1200
117300:00:06.160661 GUI: UIFrameBufferPrivate::handleNotifyChange: Size=1920x1200
117400:00:06.160671 GUI: UIFrameBufferPrivate::performResize: Size=1920x1200, Directly using source bitmap content
117500:00:06.162804 VMMDev: Guest Log: VBoxDisp[0]: VBVA enabled
117600:00:06.162825 VBVA: InfoScreen: [0] @0,0 1920x1200, line 0x1e00, BPP 32, flags 0x1
117700:00:06.162829 Display::handleDisplayResize: uScreenId=0 pvVRAM=00007fc198022000 w=1920 h=1200 bpp=32 cbLine=0x1E00 flags=0x1
117800:00:06.162867 GUI: UIFrameBufferPrivate::NotifyChange: Screen=0, Origin=0x0, Size=1920x1200, Sending to async-handler
117900:00:06.167897 GUI: UIMachineView::sltHandleNotifyChange: Screen=0, Size=1920x1200
118000:00:06.167932 GUI: UIFrameBufferPrivate::handleNotifyChange: Size=1920x1200
118100:00:06.167944 GUI: UIFrameBufferPrivate::performResize: Size=1920x1200, Directly using source bitmap content
118200:00:06.347654 GUI: UISession::sltAdditionsChange: GA state change event came, notifying listeners.
118300:00:06.351042 GUI: UISession::sltAdditionsChange: GA state really changed, notifying listeners.
118400:00:06.351053 GUI: UIMachineLogicFullscreen: Additions-state actual-change event, rebuild multi-screen layout
118500:00:06.352354 GUI: UIMultiScreenLayout::update: GUI/AutomountGuestScreens is disabled
118600:00:06.352387 GUI: UIMachineViewFullscreen::adjustGuestScreenSize: Adjust guest-screen size if necessary.
118700:00:06.352391 GUI: UISession::sltAdditionsChange: GA state change event came, notifying listeners.
118800:00:07.402865 EHCI: USB Suspended
118900:00:32.571097 PCNet#0: Init: ss32=1 GCRDRA=0x02422420[64] GCTDRA=0x02422020[64]
119000:00:35.038031 PCNet#0: Init: ss32=1 GCRDRA=0x02422420[64] GCTDRA=0x02422020[64]
119100:00:35.040009 PCNet#0: Init: ss32=1 GCRDRA=0x02422420[64] GCTDRA=0x02422020[64]
119200:00:40.052431 PCNet#0: Init: ss32=1 GCRDRA=0x02422420[64] GCTDRA=0x02422020[64]
119300:00:40.056325 PCNet#0: Init: ss32=1 GCRDRA=0x02422420[64] GCTDRA=0x02422020[64]
119400:00:43.520353 GUI: UISession::sltAdditionsChange: GA state change event came, notifying listeners.
119500:00:43.573475 Starting host clipboard service
119600:00:43.573520 Shared clipboard: Initializing X11 clipboard backend
119700:00:43.573523 ClipStartX11:
119800:00:43.578039 vboxClipboardConnect: returning VINF_SUCCESS
119900:00:43.578134 vboxClipboardConnect: rc = VINF_SUCCESS
120000:00:43.578147 Shared clipboard: Starting shared clipboard thread
120100:00:43.578150 void clipQueryX11CBFormats(CLIPBACKEND*): requesting the targets that the X11 clipboard offers
120200:00:43.578733 clipConvertX11Targets: pValue=00007fc1dc0041c0, *pcLen=12, *atomType=4
120300:00:43.578972 clipUpdateX11Targets: called
120400:00:43.578975 clipReportFormatsToVBox: clipReportFormatsToVBox format: 1
120500:00:43.578977 clipReportFormatsToVBox: clipReportFormatsToVBox txt: 1, bitm: 0, html:0, u32VBoxFormats: 1
120600:00:43.578980 ClipReportX11Formats: called. pCtx=00007fc1a4001af0, u32Formats=01
120700:00:43.578982 vboxSvcClipboardReportMsg: Formats 01
120800:00:43.579195 svcCall: u32ClientID = 16, fn = 2, cParms = 1, pparms = -1404177512
120900:00:43.579198 svcCall: VBOX_SHARED_CLIPBOARD_FN_FORMATS
121000:00:43.579200 vboxClipboardFormatAnnounce: called. pClient=00007fc1b0005930, u32Formats=00
121100:00:43.579202 clipQueueToEventThread: proc=00007fc1c1947190, client_data=00007fc1a4013880
121200:00:43.579208 svcCall: rc = VINF_SUCCESS
121300:00:43.579213 clipNewVBoxFormatsWorker: u32Formats=0
121400:00:43.581602 clipNewVBoxFormatsWorker: returning
121500:00:43.581692 VMMDev: Guest Additions capability report: (0x0 -> 0x1) seamless: yes, hostWindowMapping: no, graphics: no
121600:00:43.581744 clipDrainWakeupPipe: called
121700:00:43.581768 clipXtConvertSelectionProc:
121800:00:43.581772 clipCreateX11Targets: called
121900:00:43.581776 clipXtConvertSelectionProc: returning, internal status code VINF_SUCCESS
122000:00:43.581862 GUI: UISession::sltAdditionsChange: GA state really changed, notifying listeners.
122100:00:43.581882 GUI: UIMachineLogicFullscreen: Additions-state actual-change event, rebuild multi-screen layout
122200:00:43.582075 svcCall: u32ClientID = 16, fn = 1, cParms = 2, pparms = -1404179672
122300:00:43.582085 svcCall: VBOX_SHARED_CLIPBOARD_FN_GET_HOST_MSG
122400:00:43.582088 vboxSvcClipboardReturnMsg: Formats 01
122500:00:43.582091 svcCall: rc = VINF_SUCCESS
122600:00:43.582702 svcCall: u32ClientID = 16, fn = 1, cParms = 2, pparms = -1404179672
122700:00:43.582715 svcCall: VBOX_SHARED_CLIPBOARD_FN_GET_HOST_MSG
122800:00:43.582717 vboxSvcClipboardReturnMsg: no message
122900:00:43.582719 svcCall: async.
123000:00:43.582721 svcCall: rc = VINF_SUCCESS
123100:00:43.582750 GUI: UIMultiScreenLayout::update: GUI/AutomountGuestScreens is disabled
123200:00:43.582756 clipXtConvertSelectionProc:
123300:00:43.582763 clipXtConvertSelectionProc: returning, internal status code VERR_NOT_SUPPORTED
123400:00:43.582774 GUI: UIMachineViewFullscreen::adjustGuestScreenSize: Adjust guest-screen size if necessary.
123500:00:43.582778 GUI: UISession::sltAdditionsChange: GA state change event came, notifying listeners.
123600:00:43.583677 clipXtConvertSelectionProc:
123700:00:43.583688 clipCreateX11Targets: called
123800:00:43.583690 clipXtConvertSelectionProc: returning, internal status code VINF_SUCCESS
123900:00:43.583957 clipXtConvertSelectionProc:
124000:00:43.583963 clipCreateX11Targets: called
124100:00:43.583965 clipXtConvertSelectionProc: returning, internal status code VINF_SUCCESS
124200:00:43.584259 clipXtConvertSelectionProc:
124300:00:43.584265 clipCreateX11Targets: called
124400:00:43.584267 clipXtConvertSelectionProc: returning, internal status code VINF_SUCCESS
124500:00:43.584297 clipXtConvertSelectionProc:
124600:00:43.584300 clipCreateX11Targets: called
124700:00:43.584302 clipXtConvertSelectionProc: returning, internal status code VINF_SUCCESS
124800:00:43.584332 clipXtConvertSelectionProc:
124900:00:43.584334 clipCreateX11Targets: called
125000:00:43.584336 clipXtConvertSelectionProc: returning, internal status code VINF_SUCCESS
125100:00:43.584358 clipXtConvertSelectionProc:
125200:00:43.584361 clipCreateX11Targets: called
125300:00:43.584362 clipXtConvertSelectionProc: returning, internal status code VINF_SUCCESS
125400:00:43.584417 clipXtConvertSelectionProc:
125500:00:43.584433 clipXtConvertSelectionProc: returning, internal status code VERR_NOT_SUPPORTED
125600:00:43.584543 clipXtConvertSelectionProc:
125700:00:43.584548 clipXtConvertSelectionProc: returning, internal status code VERR_NOT_SUPPORTED
125800:00:43.584593 clipXtConvertSelectionProc:
125900:00:43.584597 clipXtConvertSelectionProc: returning, internal status code VERR_NOT_SUPPORTED
126000:00:43.585163 clipXtConvertSelectionProc:
126100:00:43.585172 clipCreateX11Targets: called
126200:00:43.585174 clipXtConvertSelectionProc: returning, internal status code VINF_SUCCESS
126300:00:43.585262 clipXtConvertSelectionProc:
126400:00:43.585267 clipCreateX11Targets: called
126500:00:43.585269 clipXtConvertSelectionProc: returning, internal status code VINF_SUCCESS
126600:00:43.585533 clipXtConvertSelectionProc:
126700:00:43.585537 clipCreateX11Targets: called
126800:00:43.585539 clipXtConvertSelectionProc: returning, internal status code VINF_SUCCESS
126900:00:43.585588 clipXtConvertSelectionProc:
127000:00:43.585591 clipCreateX11Targets: called
127100:00:43.585593 clipXtConvertSelectionProc: returning, internal status code VINF_SUCCESS
127200:00:43.585623 clipXtConvertSelectionProc:
127300:00:43.585626 clipCreateX11Targets: called
127400:00:43.585628 clipXtConvertSelectionProc: returning, internal status code VINF_SUCCESS
127500:00:43.585658 clipXtConvertSelectionProc:
127600:00:43.585662 clipXtConvertSelectionProc: returning, internal status code VERR_NOT_SUPPORTED
127700:00:43.585811 clipXtConvertSelectionProc:
127800:00:43.585816 clipXtConvertSelectionProc: returning, internal status code VERR_NOT_SUPPORTED
127900:00:43.585899 clipXtConvertSelectionProc:
128000:00:43.585903 clipCreateX11Targets: called
128100:00:43.585905 clipXtConvertSelectionProc: returning, internal status code VINF_SUCCESS
128200:00:43.585953 clipXtConvertSelectionProc:
128300:00:43.585957 clipCreateX11Targets: called
128400:00:43.585958 clipXtConvertSelectionProc: returning, internal status code VINF_SUCCESS
128500:00:43.586052 clipXtConvertSelectionProc:
128600:00:43.586058 clipXtConvertSelectionProc: returning, internal status code VERR_NOT_SUPPORTED
128700:00:43.586218 clipXtConvertSelectionProc:
128800:00:43.586224 clipXtConvertSelectionProc: returning, internal status code VERR_NOT_SUPPORTED
128900:00:43.586251 clipXtConvertSelectionProc:
129000:00:43.586254 clipCreateX11Targets: called
129100:00:43.586256 clipXtConvertSelectionProc: returning, internal status code VINF_SUCCESS
129200:00:43.586284 clipXtConvertSelectionProc:
129300:00:43.586288 clipXtConvertSelectionProc: returning, internal status code VERR_NOT_SUPPORTED
129400:00:43.586371 clipXtConvertSelectionProc:
129500:00:43.586375 clipXtConvertSelectionProc: returning, internal status code VERR_NOT_SUPPORTED
129600:00:43.586401 clipXtConvertSelectionProc:
129700:00:43.586405 clipXtConvertSelectionProc: returning, internal status code VERR_NOT_SUPPORTED
129800:00:43.586426 clipXtConvertSelectionProc:
129900:00:43.586429 clipXtConvertSelectionProc: returning, internal status code VERR_NOT_SUPPORTED
130000:00:43.586448 clipXtConvertSelectionProc:
130100:00:43.586451 clipCreateX11Targets: called
130200:00:43.586453 clipXtConvertSelectionProc: returning, internal status code VINF_SUCCESS
130300:00:43.586484 clipXtConvertSelectionProc:
130400:00:43.586488 clipXtConvertSelectionProc: returning, internal status code VERR_NOT_SUPPORTED
130500:00:43.586588 clipXtConvertSelectionProc:
130600:00:43.586597 clipXtConvertSelectionProc: returning, internal status code VERR_NOT_SUPPORTED
130700:00:43.586628 clipXtConvertSelectionProc:
130800:00:43.586631 clipXtConvertSelectionProc: returning, internal status code VERR_NOT_SUPPORTED
130900:00:43.586665 clipXtConvertSelectionProc:
131000:00:43.586668 clipXtConvertSelectionProc: returning, internal status code VERR_NOT_SUPPORTED
131100:00:43.586684 clipXtConvertSelectionProc:
131200:00:43.586687 clipXtConvertSelectionProc: returning, internal status code VERR_NOT_SUPPORTED
131300:00:43.586821 clipXtConvertSelectionProc:
131400:00:43.586825 clipXtConvertSelectionProc: returning, internal status code VERR_NOT_SUPPORTED
131500:00:43.586847 clipXtConvertSelectionProc:
131600:00:43.586850 clipXtConvertSelectionProc: returning, internal status code VERR_NOT_SUPPORTED
131700:00:43.586867 clipXtConvertSelectionProc:
131800:00:43.586870 clipXtConvertSelectionProc: returning, internal status code VERR_NOT_SUPPORTED
131900:00:43.586901 clipXtConvertSelectionProc:
132000:00:43.586904 clipXtConvertSelectionProc: returning, internal status code VERR_NOT_SUPPORTED
132100:00:43.586968 clipXtConvertSelectionProc:
132200:00:43.586972 clipXtConvertSelectionProc: returning, internal status code VERR_NOT_SUPPORTED
132300:00:43.587002 clipXtConvertSelectionProc:
132400:00:43.587007 clipXtConvertSelectionProc: returning, internal status code VERR_NOT_SUPPORTED
132500:00:43.587039 clipXtConvertSelectionProc:
132600:00:43.587042 clipXtConvertSelectionProc: returning, internal status code VERR_NOT_SUPPORTED
132700:00:43.587076 clipXtConvertSelectionProc:
132800:00:43.587079 clipXtConvertSelectionProc: returning, internal status code VERR_NOT_SUPPORTED
132900:00:43.587115 clipXtConvertSelectionProc:
133000:00:43.587120 clipXtConvertSelectionProc: returning, internal status code VERR_NOT_SUPPORTED
133100:00:43.587139 clipXtConvertSelectionProc:
133200:00:43.587141 clipXtConvertSelectionProc: returning, internal status code VERR_NOT_SUPPORTED
133300:00:43.587159 clipXtConvertSelectionProc:
133400:00:43.587162 clipXtConvertSelectionProc: returning, internal status code VERR_NOT_SUPPORTED
133500:00:43.596313 VMMDev: Guest Additions capability report: (0x1 -> 0x5) seamless: yes, hostWindowMapping: no, graphics: yes
133600:00:43.596394 GUI: UISession::sltAdditionsChange: GA state really changed, notifying listeners.
133700:00:43.596426 GUI: UIMachineLogicFullscreen: Additions-state actual-change event, rebuild multi-screen layout
133800:00:43.597439 GUI: UIMultiScreenLayout::update: GUI/AutomountGuestScreens is disabled
133900:00:43.597486 GUI: UIMachineViewFullscreen::adjustGuestScreenSize: Adjust guest-screen size if necessary.
134000:00:43.597490 GUI: UISession::sltAdditionsChange: GA state change event came, notifying listeners.
134100:00:43.597523 GUI: UISession::sltAdditionsChange: GA state change event came, notifying listeners.
134200:00:46.537614 clipXtConvertSelectionProc:
134300:00:46.537669 clipCreateX11Targets: called
134400:00:46.537680 clipXtConvertSelectionProc: returning, internal status code VINF_SUCCESS
134500:00:48.752494 clipXtConvertSelectionProc:
134600:00:48.752545 clipCreateX11Targets: called
134700:00:48.752555 clipXtConvertSelectionProc: returning, internal status code VINF_SUCCESS
134800:00:50.938027 clipXtConvertSelectionProc:
134900:00:50.938090 clipCreateX11Targets: called
135000:00:50.938102 clipXtConvertSelectionProc: returning, internal status code VINF_SUCCESS
135100:00:53.080607 clipXtConvertSelectionProc:
135200:00:53.080628 clipCreateX11Targets: called
135300:00:53.080631 clipXtConvertSelectionProc: returning, internal status code VINF_SUCCESS
135400:00:54.714851 clipXtConvertSelectionProc:
135500:00:54.714902 clipCreateX11Targets: called
135600:00:54.714913 clipXtConvertSelectionProc: returning, internal status code VINF_SUCCESS
135700:00:55.164647 clipXtConvertSelectionProc:
135800:00:55.164693 clipCreateX11Targets: called
135900:00:55.164704 clipXtConvertSelectionProc: returning, internal status code VINF_SUCCESS
136000:00:56.684806 void clipQueryX11CBFormats(CLIPBACKEND*): requesting the targets that the X11 clipboard offers
136100:00:56.702563 clipConvertX11Targets: pValue=00007fc1dc004530, *pcLen=12, *atomType=4
136200:00:56.702643 clipUpdateX11Targets: called
136300:00:56.702688 clipReportFormatsToVBox: clipReportFormatsToVBox format: 1
136400:00:56.702697 clipReportFormatsToVBox: clipReportFormatsToVBox txt: 1, bitm: 0, html:0, u32VBoxFormats: 1
136500:00:56.702706 ClipReportX11Formats: called. pCtx=00007fc1a4001af0, u32Formats=01
136600:00:56.702715 vboxSvcClipboardReportMsg: Formats 01
136700:00:56.702722 vboxSvcClipboardReturnMsg: Formats 01
136800:00:56.702729 vboxSvcClipboardReportMsg: CallComplete
136900:00:56.703418 svcCall: u32ClientID = 16, fn = 1, cParms = 2, pparms = -1404179672
137000:00:56.703452 svcCall: VBOX_SHARED_CLIPBOARD_FN_GET_HOST_MSG
137100:00:56.703459 vboxSvcClipboardReturnMsg: no message
137200:00:56.703465 svcCall: async.
137300:00:56.703472 svcCall: rc = VINF_SUCCESS
137400:01:12.443624 void clipQueryX11CBFormats(CLIPBACKEND*): requesting the targets that the X11 clipboard offers
137500:01:12.446471 clipConvertX11Targets: pValue=00007fc1dc004530, *pcLen=12, *atomType=4
137600:01:12.446548 clipUpdateX11Targets: called
137700:01:12.446560 clipReportFormatsToVBox: clipReportFormatsToVBox format: 1
137800:01:12.446568 clipReportFormatsToVBox: clipReportFormatsToVBox txt: 1, bitm: 0, html:0, u32VBoxFormats: 1
137900:01:12.446577 ClipReportX11Formats: called. pCtx=00007fc1a4001af0, u32Formats=01
138000:01:12.446587 vboxSvcClipboardReportMsg: Formats 01
138100:01:12.446594 vboxSvcClipboardReturnMsg: Formats 01
138200:01:12.446600 vboxSvcClipboardReportMsg: CallComplete
138300:01:12.447297 svcCall: u32ClientID = 16, fn = 1, cParms = 2, pparms = -1404179672
138400:01:12.447331 svcCall: VBOX_SHARED_CLIPBOARD_FN_GET_HOST_MSG
138500:01:12.447340 vboxSvcClipboardReturnMsg: no message
138600:01:12.447346 svcCall: async.
138700:01:12.447352 svcCall: rc = VINF_SUCCESS
138800:01:58.995467 svcCall: u32ClientID = 16, fn = 3, cParms = 3, pparms = -1404177080
138900:01:58.995488 svcCall: VBOX_SHARED_CLIPBOARD_FN_READ_DATA
139000:01:58.995506 vboxClipboardReadData: pClient=00007fc1b0005930, u32Format=01, pv=00007fc1ac4df590, cb=4096, pcbActual=00007fc1c1bcedfcclipQueueToEventThread: proc=00007fc1c1947000, client_data=00007fc1a4013820
139100:01:58.995531 vboxClipboardReadData: returning VINF_HGCM_ASYNC_EXECUTE
139200:01:58.995574 vboxClipboardReadX11Worker: pReq->mFormat = 01
139300:01:58.995591 vboxClipboardReadX11Worker: status VINF_SUCCESS
139400:01:58.995608 clipDrainWakeupPipe: called
139500:01:58.995727 svcCall: rc = VINF_HGCM_ASYNC_EXECUTE
139600:01:58.995810 clipConvertX11CB: pReq->mFormat=01, pReq->mTextFormat=1, pReq->mBitmapFormat=0, pReq->mHtmlFormat=0, pReq->mCtx=00007fc1a4001bc0
139700:01:58.995814 clipUtf8ToWinTxt: pcSrc=00007fc1dc0044a0, cbSrc=37, ppwszDest=00007fc18c167888
139800:01:58.995818 clipUtf16ToWinTxt: pwcSrc=00007fc1dc0044d0, cwcSrc=37, ppwszDest=00007fc18c167888
139900:01:58.995821 clipUtf16ToWinTxt: converted string is VBOX_SHARED_CLIPBOARD_FN_GET_HOST_MSG
140000:01:58.995823 clipUtf16ToWinTxt: returning VINF_SUCCESS
140100:01:58.995825 clipUtf16ToWinTxt: *pcbDest=76
140200:01:58.995827 clipUtf8ToWinTxt: Returning VINF_SUCCESS
140300:01:58.995829 clipUtf8ToWinTxt: *pcbDest=76
140400:01:58.995837 clipConvertX11CB: rc=VINF_SUCCESS
140500:03:42.091391 svcCall: u32ClientID = 16, fn = 2, cParms = 1, pparms = -1404172312
140600:03:42.091460 svcCall: VBOX_SHARED_CLIPBOARD_FN_FORMATS
140700:03:42.091471 vboxClipboardFormatAnnounce: called. pClient=00007fc1b0005930, u32Formats=01
140800:03:42.091483 clipQueueToEventThread: proc=00007fc1c1947190, client_data=00007fc1a4012200
140900:03:42.091507 svcCall: rc = VINF_SUCCESS
141000:03:42.091530 clipNewVBoxFormatsWorker: u32Formats=1
141100:03:42.092441 clipNewVBoxFormatsWorker: returning
141200:03:42.092476 clipDrainWakeupPipe: called
141300:03:42.092510 clipXtConvertSelectionProc:
141400:03:42.092520 clipReadVBoxClipboard: pCtx=00007fc1a4001bc0, u32Format=01, ppv=00007fc18c1678a8, pcb=00007fc18c1678a4
141500:03:42.092533 ClipRequestDataForX11: pCtx=00007fc1a4001af0, u32Format=01, ppv=00007fc1a4001c00, pcb=00007fc1a4001c08
141600:03:42.092545 clipRequestDataFromVBox: pCtx=00007fc1a4001af0, pReq=00007fc18c1677d0, u32Format=01
141700:03:42.092574 clipWaitForDataFromVBox: pCtx=00007fc1a4001af0, pReq=00007fc18c1677d0, u32Format=01
141800:03:42.092583 vboxSvcClipboardReportMsg: ReadData 01
141900:03:42.092589 vboxSvcClipboardReturnMsg: ReadData 01
142000:03:42.092595 vboxSvcClipboardReportMsg: CallComplete
142100:03:42.121689 svcCall: u32ClientID = 16, fn = 4, cParms = 2, pparms = -1405139944
142200:03:42.121718 svcCall: VBOX_SHARED_CLIPBOARD_FN_WRITE_DATA
142300:03:42.121722 vboxClipboardWriteData: called. pClient=00007fc1b0005930, pv=00007fc1ac3f4448 (
142400:03:42.121745
142500:03:42.121745 Tapiero2010
142600:03:42.121745
142700:03:42.121746 2016-11-27 09:20 <cite>Tapiero2010</cite> Risk Finance and Asset Pricing Value Measurements and Markets.pdf p165
142800:03:42.121748
142900:03:42.121748 1 =E((1+R_{i})M₁)=E((1+R_{i})(a+bR_{m}))
143000:03:42.121749 =E(1+R_{i})E(a+bR_{m})+cov(1+R_{i},a+bR_{m})
143100:03:42.121750
143200:03:42.121751 Let R_{i}=R_{f}, by 1=E((1+R_{i})M₁)
143300:03:42.121751
143400:03:42.121752 E(a+bR_{m})=(1/(1+R_{f}))
143500:03:42.121752
143600:03:42.121753 and 1=E((1+R_{m})(a+bR_{m}))
143700:03:42.121754
143800:03:42.121754 1=(1/(1+R_{f}))+aE(R_{m})+bE(R_{m}²)=(1/(1+R_{f}))+aE(R_{m})+bvar(R_{m})+bE(R_{m})²
143900:03:42.121756
144000:03:42.121756 thus
144100:03:42.121756
144200:03:42.121757 var(R_{m})=((R_{f})/(1+R_{f}))-E(R_{m})(a+bE(R_{m}))=((R_{f})/(1+R_{f}))-((E(R_{m}))/(1+R_{f}))
144300:03:42.121758
144400:03:42.121759 讨论 CAPM-cn.tex中
144500:03:42.121759
144600:03:42.121760 R_{M}=(1/(b-aR₀))(1+c-bR₀-((1+h(R₀))/(R₀))R_{:})
144700:03:42.121761
144800:03:42.121761
144900:03:42.121761 R_{:}=((R₀)/(1+h(R₀)))(1+c-bR₀-(b-aR₀)R_{M})
145000:03:42.121762
145100:03:42.121762 是为R_{M}的线性
145200:03:42.121763
145300:03:42.121763 R_{:}=η+ζR_{M}
145400:03:42.121764
145500:03:42.121764
145600:03:42.121765 HensRieger2010
145700:03:42.121765
145800:03:42.121765 2016-12-01 14:36 <cite>HensRieger2010</cite> Financial Economics: A Concise Introduction to Classical and Behavioral Finance
145900:03:42.121768 往mm命题靠,整了个很庞大的经济系统,一般均衡分析方法,资产的供给总说不清
146000:03:42.121769 p267 "The great difference between the industry of today as compared to that of yesterday is what might be referred to as the necessity of the scientific approach, the elimination of operation by hunches." Alfred P. Sloan
146100:03:42.121772 p268 no arbitrage condition (NAC) positive cash-flow in at least one state, but non-negative cash-flow in every state.
146200:03:42.121774 p274 While in the traditional view, the shareholder value of a firm depends on its debt-equity ratio, Modigliani and Miller show that under well defined conditions the funding of a firm is irrelevant. Their proof is based on an intuitive arbitrage argument
146300:03:42.121778
146400:03:42.121779 Culp2004
146500:03:42.121779
146600:03:42.121779 2016-12-01 14:49 <cite>Culp2004</cite> Risk Transfer: Derivatives in Theory and Practice
146700:03:42.121781 p144 Off-market derivatives, by contrast, do involve an initial payment by one counterparty to the other of an amount equal to the price of the contract---its expected discounted payoff. Off-market derivatives include options, prepaid forwards, and certain traditional forwards and swaps that are deliberately negotiated "off" the current market price.
146800:03:42.121786 In general, "asset pricing" is all about solving for discounted expected payoff to get a price.
146900:03:42.121788 For at-market derivatives, however, the task of "pricing" is instead the task of solving for the fixed rate or price that equates the discounted expected payoff to zero.
147000:03:42.121791 In this context, the phrase "derivatives pricing" thus very misleadingly refers to the determination of the fixed purchase price f_{t,T} that equates the discounted expected payoff to zero.
147100:03:42.121794 p146 For at-market derivatives, "pricing" means finding the fixed rate or price specified in the contract on the trade date that equates the true initial price of the contract to zero. For off-market derivatives, "pricing" requires actually computing the expected discounted payoff of the contract as of the trade date for a given fixed rate or price.
147200:03:42.121799 p147 In absolute pricing often called equilibrium asset-pricing models
147300:03:42.121801 In relative pricing, by contrast, we ask what we can learn about one asset's value given the prices of some other assets.
147400:03:42.121803 Relative pricing offers simplicity and tractability
147500:03:42.121804 p148 Investors do not value money directly. the consumption that money can buy is what really matters
147600:03:42.121806 p149 用无套利得到如下式子更方便
147700:03:42.121806
147800:03:42.121807 p_{t}^{}=E_{t}(m_{t+1}z_{t+1})
147900:03:42.121808
148000:03:42.121808 and one that relates the stochastic discount factor m_{t+1} to the intertemporal marginal rate of substitution (IMRS), by analogy with simple present value rules.
148100:03:42.121810 p150 In finance, we commonly do not think too much about consumption and utility functions. The stochastic discount factor remains an index of bad times (strictly speaking, growth in bad times). Finance theorists tend to think directly about discount factor models in which data such as the market return are used as indicators of bad versus good times.
148200:03:42.121816 As usual, unification came after the fact.
148300:03:42.121817 In applications to stocks and portfolios, it is often convenient to think about rates of return rather than prices. 思考
148400:03:42.121819
148500:03:42.121819 ∙ E(R)改变时,通常当前价格也要改变
148600:03:42.121820 ∙ 感觉用期望收益率,还是资本成本的旧思想
148700:03:42.121821 ∙ 好处:比较平稳
148800:03:42.121821 ∙ 毛收益率全部位于价格为1的超平面上
148900:03:42.121822
149000:03:42.121822 1=E_{t}(m_{t+1}R_{t+1})
149100:03:42.121823
149200:03:42.121823 因此没有价值创造(投入为1,产出的现值为1) 区别于投入到生产中,有价值创造
149300:03:42.121824
149400:03:42.121825 p151 Similarly, if we want to work with returns in excess of the risk-free rate R_{t+1}^{e}=R_{t+1}-R_{f} then (7.4) becomes
149500:03:42.121827
149600:03:42.121827 0=E_{t}(m_{t+1}R_{t+1}^{e})
149700:03:42.121828
149800:03:42.121828 超额收益率可以是任意两资产间,可以是两个风险资产间。
149900:03:42.121829 The expected excess return of each asset should be proportional to its beta. 提醒,beta 可不是由自己决定哦
150000:03:42.121830 p152 Risk aversion is the same thing as overestimating the probability of bad events.
150100:03:42.121832 Systematic versus Idiosyncratic Risk A central and classic idea in asset pricing is that only systematic risk generates a premium. Idiosyncratic risks are "not priced," meaning that you earn no more than the interest rate for holding them. 注:我感觉只是收益率的分解,并不是什么溢价
150200:03:42.121836 p153 Insurance is a terrible investment. The average return is negative Yet people willingly buy insurance. Why? Because insurance pays off well in bad times---just as the house stops smoldering, here comes a check in the mail.
150300:03:42.121840 2016-12-01 19:53
150400:03:42.121840 The volatility of the asset's cash flow per se is completely irrelevant to its risk premium
150500:03:42.121842 The systematic part of any risk is that part that is perfectly correlated with the discount factor The idiosyncratic part of any risk is that part that is uncorrelated with the discount factor. It generates no premium
150600:03:42.121845 p154 The CAPM, for example, is one special case of the general theory. It specifies that the discount factor is linearly related to the market return m_{t+1}=a-br_{t+1}^{} (more on this later).
150700:03:42.121848 In many portfolio management applications, "systematic" and "diversifiable" components are defined with multiple regressions on style portfolios, including size, book to market value, and industry groupings as well as the market portfolio. Implicitly, these definitions correspond to models that the discount factor is a function of these portfolio groupings. These specifications are fine, but they are special cases and they reflect lots of hidden assumptions. Other specifications may be useful.
150800:03:42.121856 For very little portfolio changes, covariance matters more than variance.
150900:03:42.121858 p155 We often call idiosyncratic risks "diversifiable" because they largely disappear in welldiversified portfolios.
151000:03:42.121860 Risks correlated with the business or company stock will be systematic for this investor, albeit not necessarily for the market as a whole.
151100:03:42.121862 idiosyncratic risk does matter for asset pricing. Most of these circumstances involve some form of "market incompleteness," such as institutional restrictions on the portfolio decisions of certain special investors, the nonmarketability of financial claims
151200:03:42.121866 p157 Historically, the CCAPM came last, in order to repair those problems.
151300:03:42.121867 The CAPM is mathematically identical to a specification of the discount factor linear in the market return, rather than linear in consumption growth
151400:03:42.121870 p158 Efforts to find theoretically purer proxies for the market portfolio of world invested wealth (<cite>Roll1977</cite>) have not helped 脱离模型设定了
151500:03:42.121872 The CAPM discount factor model is a sensible approximation. a linear function of the market return is a completely sufficient indicator of good and bad times
151600:03:42.121875 The CAPM (and all following models) is not an alternative to the consumption-based model; it is a special case.
151700:03:42.121877 In addition, all investors in a CAPM world must hold the same portfolio of assets---the market portfolio
151800:03:42.121879 p159 Technically, this model generalizes the CAPM assumption that the market return is independent over time. 问题:CAPM 本来是单期模型啊,怎么会有此假设
151900:03:42.121881 p160 What are the additional sources of risk about which investors are economically concerned?
152000:03:42.121883 what fundamental macroeconomic risks are behind the value effect, not just understand a set of mimicking portfolios that capture them for empirical work.
152100:03:42.121885 问题:FF3 有什么用途?
152200:03:42.121886 p161 in which the discount factor is only a function of the market return and state variables) by presuming that investors have no jobs or other assets; they simply live off their portfolios of financial assets. 我觉得不是定价,是风险分解
152300:03:42.121890 The grandfather of all of these is the <cite>ChenRR1986</cite> multifactor model
152400:03:42.121891 <cite>PastorStambaugh2003</cite> are finally documenting the importance of liquidity.
152500:03:42.121893 p162 In principle, valuing a bond is easier than valuing other securities, because the payoff is fixed.
152600:03:42.121895 p164 selected for empirical fit (in sample) rather than even armchair theorizing about good and bad states.
152700:03:42.121896 To find the value of a McDonald's hamburger, absolute pricing starts thinking about how much it costs to feed a cow. Relative pricing looks at the price of a hamburger at Burger King.
152800:03:42.121899 p165 The relative pricing approach uses information from other asset prices in order to construct a discount factor useful for pricing a given asset.
152900:03:42.121902 "Arbitrage pricing" is the purest case of relative pricing, neatly cuts short the endless discussion over what are the true risk factors, market price of risk, and so on.
153000:03:42.121905 Arbitrage pricing should really be called "Law of One Price pricing," and probably would be if the latter were not so ugly a name. 错!
153100:03:42.121907 p166 every asset pricing model posits that there is some discount factor,
153200:03:42.121908 Arbitrage pricing, however, is not completely assumption-free. It assumes that there is some discount factor. 错!市场完全时,完全可以找出来,而不是假设出来
153300:03:42.121911 The Law of One Price is routinely violated in retail stores 这不是金融市场
153400:03:42.121912 even a textbook-perfect hedge is exposed to some risk arising from institutional frictions, transaction costs, illiquidity, and so forth. More often, there is no textbook-perfect hedge, due to nonmarketed risks such as changing volatility, shifting interest rates, asset specific liquidity premiums, nonmarketed fundamental securities, and so on.
153500:03:42.121917 p167 The weakest thing we can say in general (beyond existence) is that investors always like more over less
153600:03:42.121919 p168 (APT) is the first such mixture of a little absolute pricing into a fundamentally relative-pricing problem. 是吗 APT is also a second source of inspiration for the factors in multifactor models.
153700:03:42.121922 p171 the discount factor interpretation has been a matter of aesthetics
153800:03:42.121924 This is only the beginning. The beauty of a discount factor framework is that it is easy to add all these restrictions and more together.), cb=20578, u32Format=01
153900:03:42.121961 svcCall: rc = VINF_SUCCESS
154000:03:42.121977 svcCall: u32ClientID = 16, fn = 1, cParms = 2, pparms = -1404177480
154100:03:42.121980 svcCall: VBOX_SHARED_CLIPBOARD_FN_GET_HOST_MSG
154200:03:42.121982 vboxSvcClipboardReturnMsg: no message
154300:03:42.121984 svcCall: async.
154400:03:42.121986 svcCall: rc = VINF_SUCCESS
154500:03:42.121994 clipWaitForDataFromVBox: returning VINF_SUCCESS
154600:03:42.121997 clipRequestDataFromVBox: returning VINF_SUCCESS
154700:03:42.122001 ClipRequestDataForX11: returning VINF_SUCCESS
154800:03:42.122003 ClipRequestDataForX11: *ppv=
154900:03:42.122024
155000:03:42.122024 Tapiero2010
155100:03:42.122025
155200:03:42.122025 2016-11-27 09:20 <cite>Tapiero2010</cite> Risk Finance and Asset Pricing Value Measurements and Markets.pdf p165
155300:03:42.122027
155400:03:42.122027 1 =E((1+R_{i})M₁)=E((1+R_{i})(a+bR_{m}))
155500:03:42.122028 =E(1+R_{i})E(a+bR_{m})+cov(1+R_{i},a+bR_{m})
155600:03:42.122029
155700:03:42.122030 Let R_{i}=R_{f}, by 1=E((1+R_{i})M₁)
155800:03:42.122030
155900:03:42.122031 E(a+bR_{m})=(1/(1+R_{f}))
156000:03:42.122031
156100:03:42.122032 and 1=E((1+R_{m})(a+bR_{m}))
156200:03:42.122033
156300:03:42.122033 1=(1/(1+R_{f}))+aE(R_{m})+bE(R_{m}²)=(1/(1+R_{f}))+aE(R_{m})+bvar(R_{m})+bE(R_{m})²
156400:03:42.122034
156500:03:42.122035 thus
156600:03:42.122035
156700:03:42.122035 var(R_{m})=((R_{f})/(1+R_{f}))-E(R_{m})(a+bE(R_{m}))=((R_{f})/(1+R_{f}))-((E(R_{m}))/(1+R_{f}))
156800:03:42.122037
156900:03:42.122038 讨论 CAPM-cn.tex中
157000:03:42.122038
157100:03:42.122038 R_{M}=(1/(b-aR₀))(1+c-bR₀-((1+h(R₀))/(R₀))R_{:})
157200:03:42.122040
157300:03:42.122040
157400:03:42.122040 R_{:}=((R₀)/(1+h(R₀)))(1+c-bR₀-(b-aR₀)R_{M})
157500:03:42.122041
157600:03:42.122041 是为R_{M}的线性
157700:03:42.122042
157800:03:42.122042 R_{:}=η+ζR_{M}
157900:03:42.122043
158000:03:42.122043
158100:03:42.122044 HensRieger2010
158200:03:42.122044
158300:03:42.122044 2016-12-01 14:36 <cite>HensRieger2010</cite> Financial Economics: A Concise Introduction to Classical and Behavioral Finance
158400:03:42.122046 往mm命题靠,整了个很庞大的经济系统,一般均衡分析方法,资产的供给总说不清
158500:03:42.122047 p267 "The great difference between the industry of today as compared to that of yesterday is what might be referred to as the necessity of the scientific approach, the elimination of operation by hunches." Alfred P. Sloan
158600:03:42.122051 p268 no arbitrage condition (NAC) positive cash-flow in at least one state, but non-negative cash-flow in every state.
158700:03:42.122053 p274 While in the traditional view, the shareholder value of a firm depends on its debt-equity ratio, Modigliani and Miller show that under well defined conditions the funding of a firm is irrelevant. Their proof is based on an intuitive arbitrage argument
158800:03:42.122057
158900:03:42.122057 Culp2004
159000:03:42.122058
159100:03:42.122058 2016-12-01 14:49 <cite>Culp2004</cite> Risk Transfer: Derivatives in Theory and Practice
159200:03:42.122060 p144 Off-market derivatives, by contrast, do involve an initial payment by one counterparty to the other of an amount equal to the price of the contract---its expected discounted payoff. Off-market derivatives include options, prepaid forwards, and certain traditional forwards and swaps that are deliberately negotiated "off" the current market price.
159300:03:42.122065 In general, "asset pricing" is all about solving for discounted expected payoff to get a price.
159400:03:42.122067 For at-market derivatives, however, the task of "pricing" is instead the task of solving for the fixed rate or price that equates the discounted expected payoff to zero.
159500:03:42.122070 In this context, the phrase "derivatives pricing" thus very misleadingly refers to the determination of the fixed purchase price f_{t,T} that equates the discounted expected payoff to zero.
159600:03:42.122073 p146 For at-market derivatives, "pricing" means finding the fixed rate or price specified in the contract on the trade date that equates the true initial price of the contract to zero. For off-market derivatives, "pricing" requires actually computing the expected discounted payoff of the contract as of the trade date for a given fixed rate or price.
159700:03:42.122078 p147 In absolute pricing often called equilibrium asset-pricing models
159800:03:42.122080 In relative pricing, by contrast, we ask what we can learn about one asset's value given the prices of some other assets.
159900:03:42.122082 Relative pricing offers simplicity and tractability
160000:03:42.122083 p148 Investors do not value money directly. the consumption that money can buy is what really matters
160100:03:42.122085 p149 用无套利得到如下式子更方便
160200:03:42.122085
160300:03:42.122086 p_{t}^{}=E_{t}(m_{t+1}z_{t+1})
160400:03:42.122086
160500:03:42.122087 and one that relates the stochastic discount factor m_{t+1} to the intertemporal marginal rate of substitution (IMRS), by analogy with simple present value rules.
160600:03:42.122089 p150 In finance, we commonly do not think too much about consumption and utility functions. The stochastic discount factor remains an index of bad times (strictly speaking, growth in bad times). Finance theorists tend to think directly about discount factor models in which data such as the market return are used as indicators of bad versus good times.
160700:03:42.122095 As usual, unification came after the fact.
160800:03:42.122096 In applications to stocks and portfolios, it is often convenient to think about rates of return rather than prices. 思考
160900:03:42.122098
161000:03:42.122098 ∙ E(R)改变时,通常当前价格也要改变
161100:03:42.122099 ∙ 感觉用期望收益率,还是资本成本的旧思想
161200:03:42.122099 ∙ 好处:比较平稳
161300:03:42.122100 ∙ 毛收益率全部位于价格为1的超平面上
161400:03:42.122101
161500:03:42.122101 1=E_{t}(m_{t+1}R_{t+1})
161600:03:42.122102
161700:03:42.122102 因此没有价值创造(投入为1,产出的现值为1) 区别于投入到生产中,有价值创造
161800:03:42.122103
161900:03:42.122103 p151 Similarly, if we want to work with returns in excess of the risk-free rate R_{t+1}^{e}=R_{t+1}-R_{f} then (7.4) becomes
162000:03:42.122105
162100:03:42.122106 0=E_{t}(m_{t+1}R_{t+1}^{e})
162200:03:42.122107
162300:03:42.122107 超额收益率可以是任意两资产间,可以是两个风险资产间。
162400:03:42.122108 The expected excess return of each asset should be proportional to its beta. 提醒,beta 可不是由自己决定哦
162500:03:42.122110 p152 Risk aversion is the same thing as overestimating the probability of bad events.
162600:03:42.122111 Systematic versus Idiosyncratic Risk A central and classic idea in asset pricing is that only systematic risk generates a premium. Idiosyncratic risks are "not priced," meaning that you earn no more than the interest rate for holding them. 注:我感觉只是收益率的分解,并不是什么溢价
162700:03:42.122115 p153 Insurance is a terrible investment. The average return is negative Yet people willingly buy insurance. Why? Because insurance pays off well in bad times---just as the house stops smoldering, here comes a check in the mail.
162800:03:42.122119 2016-12-01 19:53
162900:03:42.122120 The volatility of the asset's cash flow per se is completely irrelevant to its risk premium
163000:03:42.122121 The systematic part of any risk is that part that is perfectly correlated with the discount factor The idiosyncratic part of any risk is that part that is uncorrelated with the discount factor. It generates no premium
163100:03:42.122125 p154 The CAPM, for example, is one special case of the general theory. It specifies that the discount factor is linearly related to the market return m_{t+1}=a-br_{t+1}^{} (more on this later).
163200:03:42.122128 In many portfolio management applications, "systematic" and "diversifiable" components are defined with multiple regressions on style portfolios, including size, book to market value, and industry groupings as well as the market portfolio. Implicitly, these definitions correspond to models that the discount factor is a function of these portfolio groupings. These specifications are fine, but they are special cases and they reflect lots of hidden assumptions. Other specifications may be useful.
163300:03:42.122135 For very little portfolio changes, covariance matters more than variance.
163400:03:42.122137 p155 We often call idiosyncratic risks "diversifiable" because they largely disappear in welldiversified portfolios.
163500:03:42.122139 Risks correlated with the business or company stock will be systematic for this investor, albeit not necessarily for the market as a whole.
163600:03:42.122141 idiosyncratic risk does matter for asset pricing. Most of these circumstances involve some form of "market incompleteness," such as institutional restrictions on the portfolio decisions of certain special investors, the nonmarketability of financial claims
163700:03:42.122145 p157 Historically, the CCAPM came last, in order to repair those problems.
163800:03:42.122147 The CAPM is mathematically identical to a specification of the discount factor linear in the market return, rather than linear in consumption growth
163900:03:42.122149 p158 Efforts to find theoretically purer proxies for the market portfolio of world invested wealth (<cite>Roll1977</cite>) have not helped 脱离模型设定了
164000:03:42.122151 The CAPM discount factor model is a sensible approximation. a linear function of the market return is a completely sufficient indicator of good and bad times
164100:03:42.122154 The CAPM (and all following models) is not an alternative to the consumption-based model; it is a special case.
164200:03:42.122156 In addition, all investors in a CAPM world must hold the same portfolio of assets---the market portfolio
164300:03:42.122158 p159 Technically, this model generalizes the CAPM assumption that the market return is independent over time. 问题:CAPM 本来是单期模型啊,怎么会有此假设
164400:03:42.122160 p160 What are the additional sources of risk about which investors are economically concerned?
164500:03:42.122162 what fundamental macroeconomic risks are behind the value effect, not just understand a set of mimicking portfolios that capture them for empirical work.
164600:03:42.122165 问题:FF3 有什么用途?
164700:03:42.122166 p161 in which the discount factor is only a function of the market return and state variables) by presuming that investors have no jobs or other assets; they simply live off their portfolios of financial assets. 我觉得不是定价,是风险分解
164800:03:42.122169 The grandfather of all of these is the <cite>ChenRR1986</cite> multifactor model
164900:03:42.122171 <cite>PastorStambaugh2003</cite> are finally documenting the importance of liquidity.
165000:03:42.122172 p162 In principle, valuing a bond is easier than valuing other securities, because the payoff is fixed.
165100:03:42.122174 p164 selected for empirical fit (in sample) rather than even armchair theorizing about good and bad states.
165200:03:42.122176 To find the value of a McDonald's hamburger, absolute pricing starts thinking about how much it costs to feed a cow. Relative pricing looks at the price of a hamburger at Burger King.
165300:03:42.122179 p165 The relative pricing approach uses information from other asset prices in order to construct a discount factor useful for pricing a given asset.
165400:03:42.122182 "Arbitrage pricing" is the purest case of relative pricing, neatly cuts short the endless discussion over what are the true risk factors, market price of risk, and so on.
165500:03:42.122185 Arbitrage pricing should really be called "Law of One Price pricing," and probably would be if the latter were not so ugly a name. 错!
165600:03:42.122188 p166 every asset pricing model posits that there is some discount factor,
165700:03:42.122189 Arbitrage pricing, however, is not completely assumption-free. It assumes that there is some discount factor. 错!市场完全时,完全可以找出来,而不是假设出来
165800:03:42.122191 The Law of One Price is routinely violated in retail stores 这不是金融市场
165900:03:42.122193 even a textbook-perfect hedge is exposed to some risk arising from institutional frictions, transaction costs, illiquidity, and so forth. More often, there is no textbook-perfect hedge, due to nonmarketed risks such as changing volatility, shifting interest rates, asset specific liquidity premiums, nonmarketed fundamental securities, and so on.
166000:03:42.122198 p167 The weakest thing we can say in general (beyond existence) is that investors always like more over less
166100:03:42.122200 p168 (APT) is the first such mixture of a little absolute pricing into a fundamentally relative-pricing problem. 是吗 APT is also a second source of inspiration for the factors in multifactor models.
166200:03:42.122203 p171 the discount factor interpretation has been a matter of aesthetics
166300:03:42.122205 This is only the beginning. The beauty of a discount factor framework is that it is easy to add all these restrictions and more together., *pcb=20578
166400:03:42.122233 clipReadVBoxClipboard: returning VINF_SUCCESS
166500:03:42.122236 clipReadVBoxClipboard: *ppv=
166600:03:42.122257
166700:03:42.122258 Tapiero2010
166800:03:42.122258
166900:03:42.122259 2016-11-27 09:20 <cite>Tapiero2010</cite> Risk Finance and Asset Pricing Value Measurements and Markets.pdf p165
167000:03:42.122261
167100:03:42.122261 1 =E((1+R_{i})M₁)=E((1+R_{i})(a+bR_{m}))
167200:03:42.122262 =E(1+R_{i})E(a+bR_{m})+cov(1+R_{i},a+bR_{m})
167300:03:42.122263
167400:03:42.122263 Let R_{i}=R_{f}, by 1=E((1+R_{i})M₁)
167500:03:42.122264
167600:03:42.122265 E(a+bR_{m})=(1/(1+R_{f}))
167700:03:42.122265
167800:03:42.122266 and 1=E((1+R_{m})(a+bR_{m}))
167900:03:42.122266
168000:03:42.122267 1=(1/(1+R_{f}))+aE(R_{m})+bE(R_{m}²)=(1/(1+R_{f}))+aE(R_{m})+bvar(R_{m})+bE(R_{m})²
168100:03:42.122268
168200:03:42.122269 thus
168300:03:42.122269
168400:03:42.122270 var(R_{m})=((R_{f})/(1+R_{f}))-E(R_{m})(a+bE(R_{m}))=((R_{f})/(1+R_{f}))-((E(R_{m}))/(1+R_{f}))
168500:03:42.122271
168600:03:42.122271 讨论 CAPM-cn.tex中
168700:03:42.122272
168800:03:42.122272 R_{M}=(1/(b-aR₀))(1+c-bR₀-((1+h(R₀))/(R₀))R_{:})
168900:03:42.122273
169000:03:42.122274
169100:03:42.122274 R_{:}=((R₀)/(1+h(R₀)))(1+c-bR₀-(b-aR₀)R_{M})
169200:03:42.122275
169300:03:42.122275 是为R_{M}的线性
169400:03:42.122276
169500:03:42.122276 R_{:}=η+ζR_{M}
169600:03:42.122277
169700:03:42.122277
169800:03:42.122277 HensRieger2010
169900:03:42.122278
170000:03:42.122278 2016-12-01 14:36 <cite>HensRieger2010</cite> Financial Economics: A Concise Introduction to Classical and Behavioral Finance
170100:03:42.122281 往mm命题靠,整了个很庞大的经济系统,一般均衡分析方法,资产的供给总说不清
170200:03:42.122282 p267 "The great difference between the industry of today as compared to that of yesterday is what might be referred to as the necessity of the scientific approach, the elimination of operation by hunches." Alfred P. Sloan
170300:03:42.122285 p268 no arbitrage condition (NAC) positive cash-flow in at least one state, but non-negative cash-flow in every state.
170400:03:42.122287 p274 While in the traditional view, the shareholder value of a firm depends on its debt-equity ratio, Modigliani and Miller show that under well defined conditions the funding of a firm is irrelevant. Their proof is based on an intuitive arbitrage argument
170500:03:42.122291
170600:03:42.122292 Culp2004
170700:03:42.122292
170800:03:42.122293 2016-12-01 14:49 <cite>Culp2004</cite> Risk Transfer: Derivatives in Theory and Practice
170900:03:42.122294 p144 Off-market derivatives, by contrast, do involve an initial payment by one counterparty to the other of an amount equal to the price of the contract---its expected discounted payoff. Off-market derivatives include options, prepaid forwards, and certain traditional forwards and swaps that are deliberately negotiated "off" the current market price.
171000:03:42.122300 In general, "asset pricing" is all about solving for discounted expected payoff to get a price.
171100:03:42.122302 For at-market derivatives, however, the task of "pricing" is instead the task of solving for the fixed rate or price that equates the discounted expected payoff to zero.
171200:03:42.122304 In this context, the phrase "derivatives pricing" thus very misleadingly refers to the determination of the fixed purchase price f_{t,T} that equates the discounted expected payoff to zero.
171300:03:42.122307 p146 For at-market derivatives, "pricing" means finding the fixed rate or price specified in the contract on the trade date that equates the true initial price of the contract to zero. For off-market derivatives, "pricing" requires actually computing the expected discounted payoff of the contract as of the trade date for a given fixed rate or price.
171400:03:42.122313 p147 In absolute pricing often called equilibrium asset-pricing models
171500:03:42.122314 In relative pricing, by contrast, we ask what we can learn about one asset's value given the prices of some other assets.
171600:03:42.122316 Relative pricing offers simplicity and tractability
171700:03:42.122317 p148 Investors do not value money directly. the consumption that money can buy is what really matters
171800:03:42.122319 p149 用无套利得到如下式子更方便
171900:03:42.122320
172000:03:42.122320 p_{t}^{}=E_{t}(m_{t+1}z_{t+1})
172100:03:42.122321
172200:03:42.122322 and one that relates the stochastic discount factor m_{t+1} to the intertemporal marginal rate of substitution (IMRS), by analogy with simple present value rules.
172300:03:42.122324 p150 In finance, we commonly do not think too much about consumption and utility functions. The stochastic discount factor remains an index of bad times (strictly speaking, growth in bad times). Finance theorists tend to think directly about discount factor models in which data such as the market return are used as indicators of bad versus good times.
172400:03:42.122330 As usual, unification came after the fact.
172500:03:42.122331 In applications to stocks and portfolios, it is often convenient to think about rates of return rather than prices. 思考
172600:03:42.122333
172700:03:42.122333 ∙ E(R)改变时,通常当前价格也要改变
172800:03:42.122334 ∙ 感觉用期望收益率,还是资本成本的旧思想
172900:03:42.122334 ∙ 好处:比较平稳
173000:03:42.122335 ∙ 毛收益率全部位于价格为1的超平面上
173100:03:42.122336
173200:03:42.122336 1=E_{t}(m_{t+1}R_{t+1})
173300:03:42.122337
173400:03:42.122337 因此没有价值创造(投入为1,产出的现值为1) 区别于投入到生产中,有价值创造
173500:03:42.122338
173600:03:42.122338 p151 Similarly, if we want to work with returns in excess of the risk-free rate R_{t+1}^{e}=R_{t+1}-R_{f} then (7.4) becomes
173700:03:42.122340
173800:03:42.122341 0=E_{t}(m_{t+1}R_{t+1}^{e})
173900:03:42.122341
174000:03:42.122342 超额收益率可以是任意两资产间,可以是两个风险资产间。
174100:03:42.122343 The expected excess return of each asset should be proportional to its beta. 提醒,beta 可不是由自己决定哦
174200:03:42.122344 p152 Risk aversion is the same thing as overestimating the probability of bad events.
174300:03:42.122346 Systematic versus Idiosyncratic Risk A central and classic idea in asset pricing is that only systematic risk generates a premium. Idiosyncratic risks are "not priced," meaning that you earn no more than the interest rate for holding them. 注:我感觉只是收益率的分解,并不是什么溢价
174400:03:42.122350 p153 Insurance is a terrible investment. The average return is negative Yet people willingly buy insurance. Why? Because insurance pays off well in bad times---just as the house stops smoldering, here comes a check in the mail.
174500:03:42.122354 2016-12-01 19:53
174600:03:42.122355 The volatility of the asset's cash flow per se is completely irrelevant to its risk premium
174700:03:42.122357 The systematic part of any risk is that part that is perfectly correlated with the discount factor The idiosyncratic part of any risk is that part that is uncorrelated with the discount factor. It generates no premium
174800:03:42.122360 p154 The CAPM, for example, is one special case of the general theory. It specifies that the discount factor is linearly related to the market return m_{t+1}=a-br_{t+1}^{} (more on this later).
174900:03:42.122364 In many portfolio management applications, "systematic" and "diversifiable" components are defined with multiple regressions on style portfolios, including size, book to market value, and industry groupings as well as the market portfolio. Implicitly, these definitions correspond to models that the discount factor is a function of these portfolio groupings. These specifications are fine, but they are special cases and they reflect lots of hidden assumptions. Other specifications may be useful.
175000:03:42.122371 For very little portfolio changes, covariance matters more than variance.
175100:03:42.122373 p155 We often call idiosyncratic risks "diversifiable" because they largely disappear in welldiversified portfolios.
175200:03:42.122375 Risks correlated with the business or company stock will be systematic for this investor, albeit not necessarily for the market as a whole.
175300:03:42.122377 idiosyncratic risk does matter for asset pricing. Most of these circumstances involve some form of "market incompleteness," such as institutional restrictions on the portfolio decisions of certain special investors, the nonmarketability of financial claims
175400:03:42.122381 p157 Historically, the CCAPM came last, in order to repair those problems.
175500:03:42.122383 The CAPM is mathematically identical to a specification of the discount factor linear in the market return, rather than linear in consumption growth
175600:03:42.122386 p158 Efforts to find theoretically purer proxies for the market portfolio of world invested wealth (<cite>Roll1977</cite>) have not helped 脱离模型设定了
175700:03:42.122388 The CAPM discount factor model is a sensible approximation. a linear function of the market return is a completely sufficient indicator of good and bad times
175800:03:42.122391 The CAPM (and all following models) is not an alternative to the consumption-based model; it is a special case.
175900:03:42.122393 In addition, all investors in a CAPM world must hold the same portfolio of assets---the market portfolio
176000:03:42.122395 p159 Technically, this model generalizes the CAPM assumption that the market return is independent over time. 问题:CAPM 本来是单期模型啊,怎么会有此假设
176100:03:42.122397 p160 What are the additional sources of risk about which investors are economically concerned?
176200:03:42.122399 what fundamental macroeconomic risks are behind the value effect, not just understand a set of mimicking portfolios that capture them for empirical work.
176300:03:42.122402 问题:FF3 有什么用途?
176400:03:42.122402 p161 in which the discount factor is only a function of the market return and state variables) by presuming that investors have no jobs or other assets; they simply live off their portfolios of financial assets. 我觉得不是定价,是风险分解
176500:03:42.122406 The grandfather of all of these is the <cite>ChenRR1986</cite> multifactor model
176600:03:42.122407 <cite>PastorStambaugh2003</cite> are finally documenting the importance of liquidity.
176700:03:42.122409 p162 In principle, valuing a bond is easier than valuing other securities, because the payoff is fixed.
176800:03:42.122411 p164 selected for empirical fit (in sample) rather than even armchair theorizing about good and bad states.
176900:03:42.122413 To find the value of a McDonald's hamburger, absolute pricing starts thinking about how much it costs to feed a cow. Relative pricing looks at the price of a hamburger at Burger King.
177000:03:42.122416 p165 The relative pricing approach uses information from other asset prices in order to construct a discount factor useful for pricing a given asset.
177100:03:42.122418 "Arbitrage pricing" is the purest case of relative pricing, neatly cuts short the endless discussion over what are the true risk factors, market price of risk, and so on.
177200:03:42.122421 Arbitrage pricing should really be called "Law of One Price pricing," and probably would be if the latter were not so ugly a name. 错!
177300:03:42.122424 p166 every asset pricing model posits that there is some discount factor,
177400:03:42.122425 Arbitrage pricing, however, is not completely assumption-free. It assumes that there is some discount factor. 错!市场完全时,完全可以找出来,而不是假设出来
177500:03:42.122427 The Law of One Price is routinely violated in retail stores 这不是金融市场
177600:03:42.122429 even a textbook-perfect hedge is exposed to some risk arising from institutional frictions, transaction costs, illiquidity, and so forth. More often, there is no textbook-perfect hedge, due to nonmarketed risks such as changing volatility, shifting interest rates, asset specific liquidity premiums, nonmarketed fundamental securities, and so on.
177700:03:42.122434 p167 The weakest thing we can say in general (beyond existence) is that investors always like more over less
177800:03:42.122436 p168 (APT) is the first such mixture of a little absolute pricing into a fundamentally relative-pricing problem. 是吗 APT is also a second source of inspiration for the factors in multifactor models.
177900:03:42.122440 p171 the discount factor interpretation has been a matter of aesthetics
178000:03:42.122441 This is only the beginning. The beauty of a discount factor framework is that it is easy to add all these restrictions and more together., *pcb=20578
178100:03:42.122475 clipWinTxtToUtf8: pwszSrc=
178200:03:42.122496
178300:03:42.122497 Tapiero2010
178400:03:42.122497
178500:03:42.122497 2016-11-27 09:20 <cite>Tapiero2010</cite> Risk Finance and Asset Pricing Value Measurements and Markets.pdf p165
178600:03:42.122499
178700:03:42.122500 1 =E((1+R_{i})M₁)=E((1+R_{i})(a+bR_{m}))
178800:03:42.122501 =E(1+R_{i})E(a+bR_{m})+cov(1+R_{i},a+bR_{m})
178900:03:42.122502
179000:03:42.122502 Let R_{i}=R_{f}, by 1=E((1+R_{i})M₁)
179100:03:42.122503
179200:03:42.122503 E(a+bR_{m})=(1/(1+R_{f}))
179300:03:42.122504
179400:03:42.122504 and 1=E((1+R_{m})(a+bR_{m}))
179500:03:42.122505
179600:03:42.122505 1=(1/(1+R_{f}))+aE(R_{m})+bE(R_{m}²)=(1/(1+R_{f}))+aE(R_{m})+bvar(R_{m})+bE(R_{m})²
179700:03:42.122507
179800:03:42.122507 thus
179900:03:42.122508
180000:03:42.122508 var(R_{m})=((R_{f})/(1+R_{f}))-E(R_{m})(a+bE(R_{m}))=((R_{f})/(1+R_{f}))-((E(R_{m}))/(1+R_{f}))
180100:03:42.122510
180200:03:42.122510 讨论 CAPM-cn.tex中
180300:03:42.122511
180400:03:42.122511 R_{M}=(1/(b-aR₀))(1+c-bR₀-((1+h(R₀))/(R₀))R_{:})
180500:03:42.122512
180600:03:42.122512
180700:03:42.122513 R_{:}=((R₀)/(1+h(R₀)))(1+c-bR₀-(b-aR₀)R_{M})
180800:03:42.122514
180900:03:42.122514 是为R_{M}的线性
181000:03:42.122515
181100:03:42.122515 R_{:}=η+ζR_{M}
181200:03:42.122516
181300:03:42.122516
181400:03:42.122516 HensRieger2010
181500:03:42.122517
181600:03:42.122517 2016-12-01 14:36 <cite>HensRieger2010</cite> Financial Economics: A Concise Introduction to Classical and Behavioral Finance
181700:03:42.122519 往mm命题靠,整了个很庞大的经济系统,一般均衡分析方法,资产的供给总说不清
181800:03:42.122520 p267 "The great difference between the industry of today as compared to that of yesterday is what might be referred to as the necessity of the scientific approach, the elimination of operation by hunches." Alfred P. Sloan
181900:03:42.122524 p268 no arbitrage condition (NAC) positive cash-flow in at least one state, but non-negative cash-flow in every state.
182000:03:42.122526 p274 While in the traditional view, the shareholder value of a firm depends on its debt-equity ratio, Modigliani and Miller show that under well defined conditions the funding of a firm is irrelevant. Their proof is based on an intuitive arbitrage argument
182100:03:42.122530
182200:03:42.122530 Culp2004
182300:03:42.122531
182400:03:42.122531 2016-12-01 14:49 <cite>Culp2004</cite> Risk Transfer: Derivatives in Theory and Practice
182500:03:42.122533 p144 Off-market derivatives, by contrast, do involve an initial payment by one counterparty to the other of an amount equal to the price of the contract---its expected discounted payoff. Off-market derivatives include options, prepaid forwards, and certain traditional forwards and swaps that are deliberately negotiated "off" the current market price.
182600:03:42.122538 In general, "asset pricing" is all about solving for discounted expected payoff to get a price.
182700:03:42.122540 For at-market derivatives, however, the task of "pricing" is instead the task of solving for the fixed rate or price that equates the discounted expected payoff to zero.
182800:03:42.122543 In this context, the phrase "derivatives pricing" thus very misleadingly refers to the determination of the fixed purchase price f_{t,T} that equates the discounted expected payoff to zero.
182900:03:42.122546 p146 For at-market derivatives, "pricing" means finding the fixed rate or price specified in the contract on the trade date that equates the true initial price of the contract to zero. For off-market derivatives, "pricing" requires actually computing the expected discounted payoff of the contract as of the trade date for a given fixed rate or price.
183000:03:42.122551 p147 In absolute pricing often called equilibrium asset-pricing models
183100:03:42.122553 In relative pricing, by contrast, we ask what we can learn about one asset's value given the prices of some other assets.
183200:03:42.122555 Relative pricing offers simplicity and tractability
183300:03:42.122556 p148 Investors do not value money directly. the consumption that money can buy is what really matters
183400:03:42.122558 p149 用无套利得到如下式子更方便
183500:03:42.122559
183600:03:42.122559 p_{t}^{}=E_{t}(m_{t+1}z_{t+1})
183700:03:42.122560
183800:03:42.122560 and one that relates the stochastic discount factor m_{t+1} to the intertemporal marginal rate of substitution (IMRS), by analogy with simple present value rules.
183900:03:42.122563 p150 In finance, we commonly do not think too much about consumption and utility functions. The stochastic discount factor remains an index of bad times (strictly speaking, growth in bad times). Finance theorists tend to think directly about discount factor models in which data such as the market return are used as indicators of bad versus good times.
184000:03:42.122568 As usual, unification came after the fact.
184100:03:42.122569 In applications to stocks and portfolios, it is often convenient to think about rates of return rather than prices. 思考
184200:03:42.122572
184300:03:42.122572 ∙ E(R)改变时,通常当前价格也要改变
184400:03:42.122573 ∙ 感觉用期望收益率,还是资本成本的旧思想
184500:03:42.122573 ∙ 好处:比较平稳
184600:03:42.122574 ∙ 毛收益率全部位于价格为1的超平面上
184700:03:42.122575
184800:03:42.122575 1=E_{t}(m_{t+1}R_{t+1})
184900:03:42.122576
185000:03:42.122576 因此没有价值创造(投入为1,产出的现值为1) 区别于投入到生产中,有价值创造
185100:03:42.122577
185200:03:42.122578 p151 Similarly, if we want to work with returns in excess of the risk-free rate R_{t+1}^{e}=R_{t+1}-R_{f} then (7.4) becomes
185300:03:42.122580
185400:03:42.122580 0=E_{t}(m_{t+1}R_{t+1}^{e})
185500:03:42.122581
185600:03:42.122581 超额收益率可以是任意两资产间,可以是两个风险资产间。
185700:03:42.122582 The expected excess return of each asset should be proportional to its beta. 提醒,beta 可不是由自己决定哦
185800:03:42.122584 p152 Risk aversion is the same thing as overestimating the probability of bad events.
185900:03:42.122585 Systematic versus Idiosyncratic Risk A central and classic idea in asset pricing is that only systematic risk generates a premium. Idiosyncratic risks are "not priced," meaning that you earn no more than the interest rate for holding them. 注:我感觉只是收益率的分解,并不是什么溢价
186000:03:42.122589 p153 Insurance is a terrible investment. The average return is negative Yet people willingly buy insurance. Why? Because insurance pays off well in bad times---just as the house stops smoldering, here comes a check in the mail.
186100:03:42.122593 2016-12-01 19:53
186200:03:42.122593 The volatility of the asset's cash flow per se is completely irrelevant to its risk premium
186300:03:42.122595 The systematic part of any risk is that part that is perfectly correlated with the discount factor The idiosyncratic part of any risk is that part that is uncorrelated with the discount factor. It generates no premium
186400:03:42.122599 p154 The CAPM, for example, is one special case of the general theory. It specifies that the discount factor is linearly related to the market return m_{t+1}=a-br_{t+1}^{} (more on this later).
186500:03:42.122602 In many portfolio management applications, "systematic" and "diversifiable" components are defined with multiple regressions on style portfolios, including size, book to market value, and industry groupings as well as the market portfolio. Implicitly, these definitions correspond to models that the discount factor is a function of these portfolio groupings. These specifications are fine, but they are special cases and they reflect lots of hidden assumptions. Other specifications may be useful.
186600:03:42.122609 For very little portfolio changes, covariance matters more than variance.
186700:03:42.122611 p155 We often call idiosyncratic risks "diversifiable" because they largely disappear in welldiversified portfolios.
186800:03:42.122613 Risks correlated with the business or company stock will be systematic for this investor, albeit not necessarily for the market as a whole.
186900:03:42.122615 idiosyncratic risk does matter for asset pricing. Most of these circumstances involve some form of "market incompleteness," such as institutional restrictions on the portfolio decisions of certain special investors, the nonmarketability of financial claims
187000:03:42.122619 p157 Historically, the CCAPM came last, in order to repair those problems.
187100:03:42.122620 The CAPM is mathematically identical to a specification of the discount factor linear in the market return, rather than linear in consumption growth
187200:03:42.122623 p158 Efforts to find theoretically purer proxies for the market portfolio of world invested wealth (<cite>Roll1977</cite>) have not helped 脱离模型设定了
187300:03:42.122625 The CAPM discount factor model is a sensible approximation. a linear function of the market return is a completely sufficient indicator of good and bad times
187400:03:42.122628 The CAPM (and all following models) is not an alternative to the consumption-based model; it is a special case.
187500:03:42.122630 In addition, all investors in a CAPM world must hold the same portfolio of assets---the market portfolio
187600:03:42.122632 p159 Technically, this model generalizes the CAPM assumption that the market return is independent over time. 问题:CAPM 本来是单期模型啊,怎么会有此假设
187700:03:42.122634 p160 What are the additional sources of risk about which investors are economically concerned?
187800:03:42.122636 what fundamental macroeconomic risks are behind the value effect, not just understand a set of mimicking portfolios that capture them for empirical work.
187900:03:42.122638 问题:FF3 有什么用途?
188000:03:42.122639 p161 in which the discount factor is only a function of the market return and state variables) by presuming that investors have no jobs or other assets; they simply live off their portfolios of financial assets. 我觉得不是定价,是风险分解
188100:03:42.122643 The grandfather of all of these is the <cite>ChenRR1986</cite> multifactor model
188200:03:42.122651 <cite>PastorStambaugh2003</cite> are finally documenting the importance of liquidity.
188300:03:42.122653 p162 In principle, valuing a bond is easier than valuing other securities, because the payoff is fixed.
188400:03:42.122655 p164 selected for empirical fit (in sample) rather than even armchair theorizing about good and bad states.
188500:03:42.122657 To find the value of a McDonald's hamburger, absolute pricing starts thinking about how much it costs to feed a cow. Relative pricing looks at the price of a hamburger at Burger King.
188600:03:42.122660 p165 The relative pricing approach uses information from other asset prices in order to construct a discount factor useful for pricing a given asset.
188700:03:42.122662 "Arbitrage pricing" is the purest case of relative pricing, neatly cuts short the endless discussion over what are the true risk factors, market price of risk, and so on.
188800:03:42.122665 Arbitrage pricing should really be called "Law of One Price pricing," and probably would be if the latter were not so ugly a name. 错!
188900:03:42.122667 p166 every asset pricing model posits that there is some discount factor,
189000:03:42.122669 Arbitrage pricing, however, is not completely assumption-free. It assumes that there is some discount factor. 错!市场完全时,完全可以找出来,而不是假设出来
189100:03:42.122671 The Law of One Price is routinely violated in retail stores 这不是金融市场
189200:03:42.122672 even a textbook-perfect hedge is exposed to some risk arising from institutional frictions, transaction costs, illiquidity, and so forth. More often, there is no textbook-perfect hedge, due to nonmarketed risks such as changing volatility, shifting interest rates, asset specific liquidity premiums, nonmarketed fundamental securities, and so on.
189300:03:42.122677 p167 The weakest thing we can say in general (beyond existence) is that investors always like more over less
189400:03:42.122679 p168 (APT) is the first such mixture of a little absolute pricing into a fundamentally relative-pricing problem. 是吗 APT is also a second source of inspiration for the factors in multifactor models.
189500:03:42.122683 p171 the discount factor interpretation has been a matter of aesthetics
189600:03:42.122684 This is only the beginning. The beauty of a discount factor framework is that it is easy to add all these restrictions and more together., cbSrc=20578
189700:03:42.122757 clipWinTxtToUtf8: returning VINF_SUCCESS
189800:03:42.122760 clipWinTxtToUtf8: converted string is
189900:03:42.122769
190000:03:42.122769 Tapiero2010
190100:03:42.122770
190200:03:42.122770 2016-11-27 09:20 <cite>Tapiero2010</cite> Risk Finance and Asset Pricing Value Measurements and Markets.pdf p165
190300:03:42.122770
190400:03:42.122771 1 =E((1+R_{i})M₁)=E((1+R_{i})(a+bR_{m}))
190500:03:42.122771 =E(1+R_{i})E(a+bR_{m})+cov(1+R_{i},a+bR_{m})
190600:03:42.122771
190700:03:42.122772 Let R_{i}=R_{f}, by 1=E((1+R_{i})M₁)
190800:03:42.122772
190900:03:42.122772 E(a+bR_{m})=(1/(1+R_{f}))
191000:03:42.122773
191100:03:42.122773 and 1=E((1+R_{m})(a+bR_{m}))
191200:03:42.122773
191300:03:42.122774 1=(1/(1+R_{f}))+aE(R_{m})+bE(R_{m}²)=(1/(1+R_{f}))+aE(R_{m})+bvar(R_{m})+bE(R_{m})²
191400:03:42.122774
191500:03:42.122774 thus
191600:03:42.122775
191700:03:42.122775 var(R_{m})=((R_{f})/(1+R_{f}))-E(R_{m})(a+bE(R_{m}))=((R_{f})/(1+R_{f}))-((E(R_{m}))/(1+R_{f}))
191800:03:42.122775
191900:03:42.122776 讨论 CAPM-cn.tex中
192000:03:42.122776
192100:03:42.122776 R_{M}=(1/(b-aR₀))(1+c-bR₀-((1+h(R₀))/(R₀))R_{:})
192200:03:42.122776
192300:03:42.122777
192400:03:42.122777 R_{:}=((R₀)/(1+h(R₀)))(1+c-bR₀-(b-aR₀)R_{M})
192500:03:42.122777
192600:03:42.122778 是为R_{M}的线性
192700:03:42.122778
192800:03:42.122778 R_{:}=η+ζR_{M}
192900:03:42.122779
193000:03:42.122779
193100:03:42.122779 HensRieger2010
193200:03:42.122780
193300:03:42.122780 2016-12-01 14:36 <cite>HensRieger2010</cite> Financial Economics: A Concise Introduction to Classical and Behavioral Finance
193400:03:42.122780 往mm命题靠,整了个很庞大的经济系统,一般均衡分析方法,资产的供给总说不清
193500:03:42.122781 p267 "The great difference between the industry of today as compared to that of yesterday is what might be referred to as the necessity of the scientific approach, the elimination of operation by hunches." Alfred P. Sloan
193600:03:42.122781 p268 no arbitrage condition (NAC) positive cash-flow in at least one state, but non-negative cash-flow in every state.
193700:03:42.122781 p274 While in the traditional view, the shareholder value of a firm depends on its debt-equity ratio, Modigliani and Miller show that under well defined conditions the funding of a firm is irrelevant. Their proof is based on an intuitive arbitrage argument
193800:03:42.122782
193900:03:42.122782 Culp2004
194000:03:42.122782
194100:03:42.122783 2016-12-01 14:49 <cite>Culp2004</cite> Risk Transfer: Derivatives in Theory and Practice
194200:03:42.122783 p144 Off-market derivatives, by contrast, do involve an initial payment by one counterparty to the other of an amount equal to the price of the contract---its expected discounted payoff. Off-market derivatives include options, prepaid forwards, and certain traditional forwards and swaps that are deliberately negotiated "off" the current market price.
194300:03:42.122783 In general, "asset pricing" is all about solving for discounted expected payoff to get a price.
194400:03:42.122784 For at-market derivatives, however, the task of "pricing" is instead the task of solving for the fixed rate or price that equates the discounted expected payoff to zero.
194500:03:42.122784 In this context, the phrase "derivatives pricing" thus very misleadingly refers to the determination of the fixed purchase price f_{t,T} that equates the discounted expected payoff to zero.
194600:03:42.122784 p146 For at-market derivatives, "pricing" means finding the fixed rate or price specified in the contract on the trade date that equates the true initial price of the contract to zero. For off-market derivatives, "pricing" requires actually computing the expected discounted payoff of the contract as of the trade date for a given fixed rate or price.
194700:03:42.122785 p147 In absolute pricing often called equilibrium asset-pricing models
194800:03:42.122785 In relative pricing, by contrast, we ask what we can learn about one asset's value given the prices of some other assets.
194900:03:42.122785 Relative pricing offers simplicity and tractability
195000:03:42.122786 p148 Investors do not value money directly. the consumption that money can buy is what really matters
195100:03:42.122786 p149 用无套利得到如下式子更方便
195200:03:42.122786
195300:03:42.122787 p_{t}^{}=E_{t}(m_{t+1}z_{t+1})
195400:03:42.122787
195500:03:42.122787 and one that relates the stochastic discount factor m_{t+1} to the intertemporal marginal rate of substitution (IMRS), by analogy with simple present value rules.
195600:03:42.122788 p150 In finance, we commonly do not think too much about consumption and utility functions. The stochastic discount factor remains an index of bad times (strictly speaking, growth in bad times). Finance theorists tend to think directly about discount factor models in which data such as the market return are used as indicators of bad versus good times.
195700:03:42.122788 As usual, unification came after the fact.
195800:03:42.122789 In applications to stocks and portfolios, it is often convenient to think about rates of return rather than prices. 思考
195900:03:42.122789
196000:03:42.122789 ∙ E(R)改变时,通常当前价格也要改变
196100:03:42.122790 ∙ 感觉用期望收益率,还是资本成本的旧思想
196200:03:42.122790 ∙ 好处:比较平稳
196300:03:42.122790 ∙ 毛收益率全部位于价格为1的超平面上
196400:03:42.122791
196500:03:42.122791 1=E_{t}(m_{t+1}R_{t+1})
196600:03:42.122791
196700:03:42.122792 因此没有价值创造(投入为1,产出的现值为1) 区别于投入到生产中,有价值创造
196800:03:42.122792
196900:03:42.122792 p151 Similarly, if we want to work with returns in excess of the risk-free rate R_{t+1}^{e}=R_{t+1}-R_{f} then (7.4) becomes
197000:03:42.122792
197100:03:42.122793 0=E_{t}(m_{t+1}R_{t+1}^{e})
197200:03:42.122793
197300:03:42.122793 超额收益率可以是任意两资产间,可以是两个风险资产间。
197400:03:42.122794 The expected excess return of each asset should be proportional to its beta. 提醒,beta 可不是由自己决定哦
197500:03:42.122794 p152 Risk aversion is the same thing as overestimating the probability of bad events.
197600:03:42.122794 Systematic versus Idiosyncratic Risk A central and classic idea in asset pricing is that only systematic risk generates a premium. Idiosyncratic risks are "not priced," meaning that you earn no more than the interest rate for holding them. 注:我感觉只是收益率的分解,并不是什么溢价
197700:03:42.122795 p153 Insurance is a terrible investment. The average return is negative Yet people willingly buy insurance. Why? Because insurance pays off well in bad times---just as the house stops smoldering, here comes a check in the mail.
197800:03:42.122795 2016-12-01 19:53
197900:03:42.122795 The volatility of the asset's cash flow per se is completely irrelevant to its risk premium
198000:03:42.122796 The systematic part of any risk is that part that is perfectly correlated with the discount factor The idiosyncratic part of any risk is that part that is uncorrelated with the discount factor. It generates no premium
198100:03:42.122796 p154 The CAPM, for example, is one special case of the general theory. It specifies that the discount factor is linearly related to the market return m_{t+1}=a-br_{t+1}^{} (more on this later).
198200:03:42.122797 In many portfolio management applications, "systematic" and "diversifiable" components are defined with multiple regressions on style portfolios, including size, book to market value, and industry groupings as well as the market portfolio. Implicitly, these definitions correspond to models that the discount factor is a function of these portfolio groupings. These specifications are fine, but they are special cases and they reflect lots of hidden assumptions. Other specifications may be useful.
198300:03:42.122797 For very little portfolio changes, covariance matters more than variance.
198400:03:42.122797 p155 We often call idiosyncratic risks "diversifiable" because they largely disappear in welldiversified portfolios.
198500:03:42.122798 Risks correlated with the business or company stock will be systematic for this investor, albeit not necessarily for the market as a whole.
198600:03:42.122798 idiosyncratic risk does matter for asset pricing. Most of these circumstances involve some form of "market incompleteness," such as institutional restrictions on the portfolio decisions of certain special investors, the nonmarketability of financial claims
198700:03:42.122798 p157 Historically, the CCAPM came last, in order to repair those problems.
198800:03:42.122799 The CAPM is mathematically identical to a specification of the discount factor linear in the market return, rather than linear in consumption growth
198900:03:42.122799 p158 Efforts to find theoretically purer proxies for the market portfolio of world invested wealth (<cite>Roll1977</cite>) have not helped 脱离模型设定了
199000:03:42.122799 The CAPM discount factor model is a sensible approximation. a linear function of the market return is a completely sufficient indicator of good and bad times
199100:03:42.122800 The CAPM (and all following models) is not an alternative to the consumption-based model; it is a special case.
199200:03:42.122800 In addition, all investors in a CAPM world must hold the same portfolio of assets---the market portfolio
199300:03:42.122800 p159 Technically, this model generalizes the CAPM assumption that the market return is independent over time. 问题:CAPM 本来是单期模型啊,怎么会有此假设
199400:03:42.122801 p160 What are the additional sources of risk about which investors are economically concerned?
199500:03:42.122801 what fundamental macroeconomic risks are behind the value effect, not just understand a set of mimicking portfolios that capture them for empirical work.
199600:03:42.122801 问题:FF3 有什么用途?
199700:03:42.122801 p161 in which the discount factor is only a function of the market return and state variables) by presuming that investors have no jobs or other assets; they simply live off their portfolios of financial assets. 我觉得不是定价,是风险分解
199800:03:42.122802 The grandfather of all of these is the <cite>ChenRR1986</cite> multifactor model
199900:03:42.122802 <cite>PastorStambaugh2003</cite> are finally documenting the importance of liquidity.
200000:03:42.122803 p162 In principle, valuing a bond is easier than valuing other securities, because the payoff is fixed.
200100:03:42.122803 p164 selected for empirical fit (in sample) rather than even armchair theorizing about good and bad states.
200200:03:42.122803 To find the value of a McDonald's hamburger, absolute pricing starts thinking about how much it costs to feed a cow. Relative pricing looks at the price of a hamburger at Burger King.
200300:03:42.122803 p165 The relative pricing approach uses information from other asset prices in order to construct a discount factor useful for pricing a given asset.
200400:03:42.122804 "Arbitrage pricing" is the purest case of relative pricing, neatly cuts short the endless discussion over what are the true risk factors, market price of risk, and so on.
200500:03:42.122804 Arbitrage pricing should really be called "Law of One Price pricing," and probably would be if the latter were not so ugly a name. 错!
200600:03:42.122804 p166 every asset pricing model posits that there is some discount factor,
200700:03:42.122805 Arbitrage pricing, however, is not completely assumption-free. It assumes that there is some discount factor. 错!市场完全时,完全可以找出来,而不是假设出来
200800:03:42.122805 The Law of One Price is routinely violated in retail stores 这不是金融市场
200900:03:42.122805 even a textbook-perfect hedge is exposed to some risk arising from institutional frictions, transaction costs, illiquidity, and so forth. More often, there is no textbook-perfect hedge, due to nonmarketed risks such as changing volatility, shifting interest rates, asset specific liquidity premiums, nonmarketed fundamental securities, and so on.
201000:03:42.122806 p167 The weakest thing we can say in general (beyond existence) is that investors always like more over less
201100:03:42.122806 p168 (APT) is the first such mixture of a little absolute pricing into a fundamentally relative-pricing problem. 是吗 APT is also a second source of inspiration for the factors in multifactor models.
201200:03:42.122806 p171 the discount factor interpretation has been a matter of aesthetics
201300:03:42.122807 This is only the beginning. The beauty of a discount factor framework is that it is easy to add all these restrictions and more together.. Returning.
201400:03:42.122814 clipXtConvertSelectionProc: returning, internal status code VINF_SUCCESS
201500:03:42.126442 clipXtConvertSelectionProc:
201600:03:42.126458 clipReadVBoxClipboard: pCtx=00007fc1a4001bc0, u32Format=01, ppv=00007fc18c1678a8, pcb=00007fc18c1678a4
201700:03:42.126466 clipReadVBoxClipboard: returning VINF_SUCCESS
201800:03:42.126469 clipReadVBoxClipboard: *ppv=
201900:03:42.126490
202000:03:42.126491 Tapiero2010
202100:03:42.126491
202200:03:42.126491 2016-11-27 09:20 <cite>Tapiero2010</cite> Risk Finance and Asset Pricing Value Measurements and Markets.pdf p165
202300:03:42.126493
202400:03:42.126494 1 =E((1+R_{i})M₁)=E((1+R_{i})(a+bR_{m}))
202500:03:42.126495 =E(1+R_{i})E(a+bR_{m})+cov(1+R_{i},a+bR_{m})
202600:03:42.126496
202700:03:42.126496 Let R_{i}=R_{f}, by 1=E((1+R_{i})M₁)
202800:03:42.126497
202900:03:42.126497 E(a+bR_{m})=(1/(1+R_{f}))
203000:03:42.126498
203100:03:42.126498 and 1=E((1+R_{m})(a+bR_{m}))
203200:03:42.126499
203300:03:42.126499 1=(1/(1+R_{f}))+aE(R_{m})+bE(R_{m}²)=(1/(1+R_{f}))+aE(R_{m})+bvar(R_{m})+bE(R_{m})²
203400:03:42.126501
203500:03:42.126501 thus
203600:03:42.126502
203700:03:42.126502 var(R_{m})=((R_{f})/(1+R_{f}))-E(R_{m})(a+bE(R_{m}))=((R_{f})/(1+R_{f}))-((E(R_{m}))/(1+R_{f}))
203800:03:42.126504
203900:03:42.126504 讨论 CAPM-cn.tex中
204000:03:42.126505
204100:03:42.126505 R_{M}=(1/(b-aR₀))(1+c-bR₀-((1+h(R₀))/(R₀))R_{:})
204200:03:42.126506
204300:03:42.126506
204400:03:42.126507 R_{:}=((R₀)/(1+h(R₀)))(1+c-bR₀-(b-aR₀)R_{M})
204500:03:42.126508
204600:03:42.126508 是为R_{M}的线性
204700:03:42.126508
204800:03:42.126509 R_{:}=η+ζR_{M}
204900:03:42.126509
205000:03:42.126510
205100:03:42.126510 HensRieger2010
205200:03:42.126510
205300:03:42.126511 2016-12-01 14:36 <cite>HensRieger2010</cite> Financial Economics: A Concise Introduction to Classical and Behavioral Finance
205400:03:42.126513 往mm命题靠,整了个很庞大的经济系统,一般均衡分析方法,资产的供给总说不清
205500:03:42.126514 p267 "The great difference between the industry of today as compared to that of yesterday is what might be referred to as the necessity of the scientific approach, the elimination of operation by hunches." Alfred P. Sloan
205600:03:42.126517 p268 no arbitrage condition (NAC) positive cash-flow in at least one state, but non-negative cash-flow in every state.
205700:03:42.126520 p274 While in the traditional view, the shareholder value of a firm depends on its debt-equity ratio, Modigliani and Miller show that under well defined conditions the funding of a firm is irrelevant. Their proof is based on an intuitive arbitrage argument
205800:03:42.126524
205900:03:42.126524 Culp2004
206000:03:42.126524
206100:03:42.126525 2016-12-01 14:49 <cite>Culp2004</cite> Risk Transfer: Derivatives in Theory and Practice
206200:03:42.126526 p144 Off-market derivatives, by contrast, do involve an initial payment by one counterparty to the other of an amount equal to the price of the contract---its expected discounted payoff. Off-market derivatives include options, prepaid forwards, and certain traditional forwards and swaps that are deliberately negotiated "off" the current market price.
206300:03:42.126532 In general, "asset pricing" is all about solving for discounted expected payoff to get a price.
206400:03:42.126533 For at-market derivatives, however, the task of "pricing" is instead the task of solving for the fixed rate or price that equates the discounted expected payoff to zero.
206500:03:42.126536 In this context, the phrase "derivatives pricing" thus very misleadingly refers to the determination of the fixed purchase price f_{t,T} that equates the discounted expected payoff to zero.
206600:03:42.126539 p146 For at-market derivatives, "pricing" means finding the fixed rate or price specified in the contract on the trade date that equates the true initial price of the contract to zero. For off-market derivatives, "pricing" requires actually computing the expected discounted payoff of the contract as of the trade date for a given fixed rate or price.
206700:03:42.126544 p147 In absolute pricing often called equilibrium asset-pricing models
206800:03:42.126546 In relative pricing, by contrast, we ask what we can learn about one asset's value given the prices of some other assets.
206900:03:42.126548 Relative pricing offers simplicity and tractability
207000:03:42.126549 p148 Investors do not value money directly. the consumption that money can buy is what really matters
207100:03:42.126551 p149 用无套利得到如下式子更方便
207200:03:42.126551
207300:03:42.126552 p_{t}^{}=E_{t}(m_{t+1}z_{t+1})
207400:03:42.126552
207500:03:42.126553 and one that relates the stochastic discount factor m_{t+1} to the intertemporal marginal rate of substitution (IMRS), by analogy with simple present value rules.
207600:03:42.126555 p150 In finance, we commonly do not think too much about consumption and utility functions. The stochastic discount factor remains an index of bad times (strictly speaking, growth in bad times). Finance theorists tend to think directly about discount factor models in which data such as the market return are used as indicators of bad versus good times.
207700:03:42.126561 As usual, unification came after the fact.
207800:03:42.126562 In applications to stocks and portfolios, it is often convenient to think about rates of return rather than prices. 思考
207900:03:42.126564
208000:03:42.126564 ∙ E(R)改变时,通常当前价格也要改变
208100:03:42.126565 ∙ 感觉用期望收益率,还是资本成本的旧思想
208200:03:42.126565 ∙ 好处:比较平稳
208300:03:42.126566 ∙ 毛收益率全部位于价格为1的超平面上
208400:03:42.126567
208500:03:42.126567 1=E_{t}(m_{t+1}R_{t+1})
208600:03:42.126568
208700:03:42.126568 因此没有价值创造(投入为1,产出的现值为1) 区别于投入到生产中,有价值创造
208800:03:42.126569
208900:03:42.126569 p151 Similarly, if we want to work with returns in excess of the risk-free rate R_{t+1}^{e}=R_{t+1}-R_{f} then (7.4) becomes
209000:03:42.126571
209100:03:42.126572 0=E_{t}(m_{t+1}R_{t+1}^{e})
209200:03:42.126573
209300:03:42.126573 超额收益率可以是任意两资产间,可以是两个风险资产间。
209400:03:42.126574 The expected excess return of each asset should be proportional to its beta. 提醒,beta 可不是由自己决定哦
209500:03:42.126575 p152 Risk aversion is the same thing as overestimating the probability of bad events.
209600:03:42.126577 Systematic versus Idiosyncratic Risk A central and classic idea in asset pricing is that only systematic risk generates a premium. Idiosyncratic risks are "not priced," meaning that you earn no more than the interest rate for holding them. 注:我感觉只是收益率的分解,并不是什么溢价
209700:03:42.126581 p153 Insurance is a terrible investment. The average return is negative Yet people willingly buy insurance. Why? Because insurance pays off well in bad times---just as the house stops smoldering, here comes a check in the mail.
209800:03:42.126585 2016-12-01 19:53
209900:03:42.126585 The volatility of the asset's cash flow per se is completely irrelevant to its risk premium
210000:03:42.126587 The systematic part of any risk is that part that is perfectly correlated with the discount factor The idiosyncratic part of any risk is that part that is uncorrelated with the discount factor. It generates no premium
210100:03:42.126590 p154 The CAPM, for example, is one special case of the general theory. It specifies that the discount factor is linearly related to the market return m_{t+1}=a-br_{t+1}^{} (more on this later).
210200:03:42.126593 In many portfolio management applications, "systematic" and "diversifiable" components are defined with multiple regressions on style portfolios, including size, book to market value, and industry groupings as well as the market portfolio. Implicitly, these definitions correspond to models that the discount factor is a function of these portfolio groupings. These specifications are fine, but they are special cases and they reflect lots of hidden assumptions. Other specifications may be useful.
210300:03:42.126601 For very little portfolio changes, covariance matters more than variance.
210400:03:42.126602 p155 We often call idiosyncratic risks "diversifiable" because they largely disappear in welldiversified portfolios.
210500:03:42.126604 Risks correlated with the business or company stock will be systematic for this investor, albeit not necessarily for the market as a whole.
210600:03:42.126606 idiosyncratic risk does matter for asset pricing. Most of these circumstances involve some form of "market incompleteness," such as institutional restrictions on the portfolio decisions of certain special investors, the nonmarketability of financial claims
210700:03:42.126610 p157 Historically, the CCAPM came last, in order to repair those problems.
210800:03:42.126612 The CAPM is mathematically identical to a specification of the discount factor linear in the market return, rather than linear in consumption growth
210900:03:42.126614 p158 Efforts to find theoretically purer proxies for the market portfolio of world invested wealth (<cite>Roll1977</cite>) have not helped 脱离模型设定了
211000:03:42.126617 The CAPM discount factor model is a sensible approximation. a linear function of the market return is a completely sufficient indicator of good and bad times
211100:03:42.126619 The CAPM (and all following models) is not an alternative to the consumption-based model; it is a special case.
211200:03:42.126621 In addition, all investors in a CAPM world must hold the same portfolio of assets---the market portfolio
211300:03:42.126623 p159 Technically, this model generalizes the CAPM assumption that the market return is independent over time. 问题:CAPM 本来是单期模型啊,怎么会有此假设
211400:03:42.126625 p160 What are the additional sources of risk about which investors are economically concerned?
211500:03:42.126627 what fundamental macroeconomic risks are behind the value effect, not just understand a set of mimicking portfolios that capture them for empirical work.
211600:03:42.126630 问题:FF3 有什么用途?
211700:03:42.126701 p161 in which the discount factor is only a function of the market return and state variables) by presuming that investors have no jobs or other assets; they simply live off their portfolios of financial assets. 我觉得不是定价,是风险分解
211800:03:42.126705 The grandfather of all of these is the <cite>ChenRR1986</cite> multifactor model
211900:03:42.126707 <cite>PastorStambaugh2003</cite> are finally documenting the importance of liquidity.
212000:03:42.126708 p162 In principle, valuing a bond is easier than valuing other securities, because the payoff is fixed.
212100:03:42.126710 p164 selected for empirical fit (in sample) rather than even armchair theorizing about good and bad states.
212200:03:42.126712 To find the value of a McDonald's hamburger, absolute pricing starts thinking about how much it costs to feed a cow. Relative pricing looks at the price of a hamburger at Burger King.
212300:03:42.126715 p165 The relative pricing approach uses information from other asset prices in order to construct a discount factor useful for pricing a given asset.
212400:03:42.126717 "Arbitrage pricing" is the purest case of relative pricing, neatly cuts short the endless discussion over what are the true risk factors, market price of risk, and so on.
212500:03:42.126720 Arbitrage pricing should really be called "Law of One Price pricing," and probably would be if the latter were not so ugly a name. 错!
212600:03:42.126722 p166 every asset pricing model posits that there is some discount factor,
212700:03:42.126724 Arbitrage pricing, however, is not completely assumption-free. It assumes that there is some discount factor. 错!市场完全时,完全可以找出来,而不是假设出来
212800:03:42.126726 The Law of One Price is routinely violated in retail stores 这不是金融市场
212900:03:42.126727 even a textbook-perfect hedge is exposed to some risk arising from institutional frictions, transaction costs, illiquidity, and so forth. More often, there is no textbook-perfect hedge, due to nonmarketed risks such as changing volatility, shifting interest rates, asset specific liquidity premiums, nonmarketed fundamental securities, and so on.
213000:03:42.126732 p167 The weakest thing we can say in general (beyond existence) is that investors always like more over less
213100:03:42.126734 p168 (APT) is the first such mixture of a little absolute pricing into a fundamentally relative-pricing problem. 是吗 APT is also a second source of inspiration for the factors in multifactor models.
213200:03:42.126738 p171 the discount factor interpretation has been a matter of aesthetics
213300:03:42.126739 This is only the beginning. The beauty of a discount factor framework is that it is easy to add all these restrictions and more together., *pcb=20578
213400:03:42.126773 clipWinTxtToUtf8: pwszSrc=
213500:03:42.126794
213600:03:42.126794 Tapiero2010
213700:03:42.126795
213800:03:42.126795 2016-11-27 09:20 <cite>Tapiero2010</cite> Risk Finance and Asset Pricing Value Measurements and Markets.pdf p165
213900:03:42.126797
214000:03:42.126797 1 =E((1+R_{i})M₁)=E((1+R_{i})(a+bR_{m}))
214100:03:42.126798 =E(1+R_{i})E(a+bR_{m})+cov(1+R_{i},a+bR_{m})
214200:03:42.126799
214300:03:42.126799 Let R_{i}=R_{f}, by 1=E((1+R_{i})M₁)
214400:03:42.126800
214500:03:42.126801 E(a+bR_{m})=(1/(1+R_{f}))
214600:03:42.126801
214700:03:42.126802 and 1=E((1+R_{m})(a+bR_{m}))
214800:03:42.126802
214900:03:42.126803 1=(1/(1+R_{f}))+aE(R_{m})+bE(R_{m}²)=(1/(1+R_{f}))+aE(R_{m})+bvar(R_{m})+bE(R_{m})²
215000:03:42.126804
215100:03:42.126804 thus
215200:03:42.126805
215300:03:42.126805 var(R_{m})=((R_{f})/(1+R_{f}))-E(R_{m})(a+bE(R_{m}))=((R_{f})/(1+R_{f}))-((E(R_{m}))/(1+R_{f}))
215400:03:42.126807
215500:03:42.126807 讨论 CAPM-cn.tex中
215600:03:42.126808
215700:03:42.126808 R_{M}=(1/(b-aR₀))(1+c-bR₀-((1+h(R₀))/(R₀))R_{:})
215800:03:42.126809
215900:03:42.126809
216000:03:42.126810 R_{:}=((R₀)/(1+h(R₀)))(1+c-bR₀-(b-aR₀)R_{M})
216100:03:42.126811
216200:03:42.126811 是为R_{M}的线性
216300:03:42.126812
216400:03:42.126812 R_{:}=η+ζR_{M}
216500:03:42.126812
216600:03:42.126813
216700:03:42.126813 HensRieger2010
216800:03:42.126814
216900:03:42.126814 2016-12-01 14:36 <cite>HensRieger2010</cite> Financial Economics: A Concise Introduction to Classical and Behavioral Finance
217000:03:42.126816 往mm命题靠,整了个很庞大的经济系统,一般均衡分析方法,资产的供给总说不清
217100:03:42.126817 p267 "The great difference between the industry of today as compared to that of yesterday is what might be referred to as the necessity of the scientific approach, the elimination of operation by hunches." Alfred P. Sloan
217200:03:42.126820 p268 no arbitrage condition (NAC) positive cash-flow in at least one state, but non-negative cash-flow in every state.
217300:03:42.126823 p274 While in the traditional view, the shareholder value of a firm depends on its debt-equity ratio, Modigliani and Miller show that under well defined conditions the funding of a firm is irrelevant. Their proof is based on an intuitive arbitrage argument
217400:03:42.126827
217500:03:42.126827 Culp2004
217600:03:42.126827
217700:03:42.126828 2016-12-01 14:49 <cite>Culp2004</cite> Risk Transfer: Derivatives in Theory and Practice
217800:03:42.126829 p144 Off-market derivatives, by contrast, do involve an initial payment by one counterparty to the other of an amount equal to the price of the contract---its expected discounted payoff. Off-market derivatives include options, prepaid forwards, and certain traditional forwards and swaps that are deliberately negotiated "off" the current market price.
217900:03:42.126835 In general, "asset pricing" is all about solving for discounted expected payoff to get a price.
218000:03:42.126836 For at-market derivatives, however, the task of "pricing" is instead the task of solving for the fixed rate or price that equates the discounted expected payoff to zero.
218100:03:42.126839 In this context, the phrase "derivatives pricing" thus very misleadingly refers to the determination of the fixed purchase price f_{t,T} that equates the discounted expected payoff to zero.
218200:03:42.126842 p146 For at-market derivatives, "pricing" means finding the fixed rate or price specified in the contract on the trade date that equates the true initial price of the contract to zero. For off-market derivatives, "pricing" requires actually computing the expected discounted payoff of the contract as of the trade date for a given fixed rate or price.
218300:03:42.126847 p147 In absolute pricing often called equilibrium asset-pricing models
218400:03:42.126849 In relative pricing, by contrast, we ask what we can learn about one asset's value given the prices of some other assets.
218500:03:42.126851 Relative pricing offers simplicity and tractability
218600:03:42.126852 p148 Investors do not value money directly. the consumption that money can buy is what really matters
218700:03:42.126854 p149 用无套利得到如下式子更方便
218800:03:42.126854
218900:03:42.126855 p_{t}^{}=E_{t}(m_{t+1}z_{t+1})
219000:03:42.126855
219100:03:42.126856 and one that relates the stochastic discount factor m_{t+1} to the intertemporal marginal rate of substitution (IMRS), by analogy with simple present value rules.
219200:03:42.126858 p150 In finance, we commonly do not think too much about consumption and utility functions. The stochastic discount factor remains an index of bad times (strictly speaking, growth in bad times). Finance theorists tend to think directly about discount factor models in which data such as the market return are used as indicators of bad versus good times.
219300:03:42.126864 As usual, unification came after the fact.
219400:03:42.126865 In applications to stocks and portfolios, it is often convenient to think about rates of return rather than prices. 思考
219500:03:42.126867
219600:03:42.126867 ∙ E(R)改变时,通常当前价格也要改变
219700:03:42.126868 ∙ 感觉用期望收益率,还是资本成本的旧思想
219800:03:42.126868 ∙ 好处:比较平稳
219900:03:42.126869 ∙ 毛收益率全部位于价格为1的超平面上
220000:03:42.126870
220100:03:42.126870 1=E_{t}(m_{t+1}R_{t+1})
220200:03:42.126871
220300:03:42.126871 因此没有价值创造(投入为1,产出的现值为1) 区别于投入到生产中,有价值创造
220400:03:42.126872
220500:03:42.126872 p151 Similarly, if we want to work with returns in excess of the risk-free rate R_{t+1}^{e}=R_{t+1}-R_{f} then (7.4) becomes
220600:03:42.126874
220700:03:42.126875 0=E_{t}(m_{t+1}R_{t+1}^{e})
220800:03:42.126875
220900:03:42.126876 超额收益率可以是任意两资产间,可以是两个风险资产间。
221000:03:42.126877 The expected excess return of each asset should be proportional to its beta. 提醒,beta 可不是由自己决定哦
221100:03:42.126878 p152 Risk aversion is the same thing as overestimating the probability of bad events.
221200:03:42.126880 Systematic versus Idiosyncratic Risk A central and classic idea in asset pricing is that only systematic risk generates a premium. Idiosyncratic risks are "not priced," meaning that you earn no more than the interest rate for holding them. 注:我感觉只是收益率的分解,并不是什么溢价
221300:03:42.126884 p153 Insurance is a terrible investment. The average return is negative Yet people willingly buy insurance. Why? Because insurance pays off well in bad times---just as the house stops smoldering, here comes a check in the mail.
221400:03:42.126887 2016-12-01 19:53
221500:03:42.126888 The volatility of the asset's cash flow per se is completely irrelevant to its risk premium
221600:03:42.126890 The systematic part of any risk is that part that is perfectly correlated with the discount factor The idiosyncratic part of any risk is that part that is uncorrelated with the discount factor. It generates no premium
221700:03:42.126893 p154 The CAPM, for example, is one special case of the general theory. It specifies that the discount factor is linearly related to the market return m_{t+1}=a-br_{t+1}^{} (more on this later).
221800:03:42.126896 In many portfolio management applications, "systematic" and "diversifiable" components are defined with multiple regressions on style portfolios, including size, book to market value, and industry groupings as well as the market portfolio. Implicitly, these definitions correspond to models that the discount factor is a function of these portfolio groupings. These specifications are fine, but they are special cases and they reflect lots of hidden assumptions. Other specifications may be useful.
221900:03:42.126904 For very little portfolio changes, covariance matters more than variance.
222000:03:42.126905 p155 We often call idiosyncratic risks "diversifiable" because they largely disappear in welldiversified portfolios.
222100:03:42.126907 Risks correlated with the business or company stock will be systematic for this investor, albeit not necessarily for the market as a whole.
222200:03:42.126910 idiosyncratic risk does matter for asset pricing. Most of these circumstances involve some form of "market incompleteness," such as institutional restrictions on the portfolio decisions of certain special investors, the nonmarketability of financial claims
222300:03:42.126913 p157 Historically, the CCAPM came last, in order to repair those problems.
222400:03:42.126915 The CAPM is mathematically identical to a specification of the discount factor linear in the market return, rather than linear in consumption growth
222500:03:42.126917 p158 Efforts to find theoretically purer proxies for the market portfolio of world invested wealth (<cite>Roll1977</cite>) have not helped 脱离模型设定了
222600:03:42.126920 The CAPM discount factor model is a sensible approximation. a linear function of the market return is a completely sufficient indicator of good and bad times
222700:03:42.126922 The CAPM (and all following models) is not an alternative to the consumption-based model; it is a special case.
222800:03:42.126924 In addition, all investors in a CAPM world must hold the same portfolio of assets---the market portfolio
222900:03:42.126926 p159 Technically, this model generalizes the CAPM assumption that the market return is independent over time. 问题:CAPM 本来是单期模型啊,怎么会有此假设
223000:03:42.126928 p160 What are the additional sources of risk about which investors are economically concerned?
223100:03:42.126930 what fundamental macroeconomic risks are behind the value effect, not just understand a set of mimicking portfolios that capture them for empirical work.
223200:03:42.126933 问题:FF3 有什么用途?
223300:03:42.126933 p161 in which the discount factor is only a function of the market return and state variables) by presuming that investors have no jobs or other assets; they simply live off their portfolios of financial assets. 我觉得不是定价,是风险分解
223400:03:42.126937 The grandfather of all of these is the <cite>ChenRR1986</cite> multifactor model
223500:03:42.126938 <cite>PastorStambaugh2003</cite> are finally documenting the importance of liquidity.
223600:03:42.126940 p162 In principle, valuing a bond is easier than valuing other securities, because the payoff is fixed.
223700:03:42.126942 p164 selected for empirical fit (in sample) rather than even armchair theorizing about good and bad states.
223800:03:42.126944 To find the value of a McDonald's hamburger, absolute pricing starts thinking about how much it costs to feed a cow. Relative pricing looks at the price of a hamburger at Burger King.
223900:03:42.126947 p165 The relative pricing approach uses information from other asset prices in order to construct a discount factor useful for pricing a given asset.
224000:03:42.126949 "Arbitrage pricing" is the purest case of relative pricing, neatly cuts short the endless discussion over what are the true risk factors, market price of risk, and so on.
224100:03:42.126952 Arbitrage pricing should really be called "Law of One Price pricing," and probably would be if the latter were not so ugly a name. 错!
224200:03:42.126954 p166 every asset pricing model posits that there is some discount factor,
224300:03:42.126955 Arbitrage pricing, however, is not completely assumption-free. It assumes that there is some discount factor. 错!市场完全时,完全可以找出来,而不是假设出来
224400:03:42.126958 The Law of One Price is routinely violated in retail stores 这不是金融市场
224500:03:42.126959 even a textbook-perfect hedge is exposed to some risk arising from institutional frictions, transaction costs, illiquidity, and so forth. More often, there is no textbook-perfect hedge, due to nonmarketed risks such as changing volatility, shifting interest rates, asset specific liquidity premiums, nonmarketed fundamental securities, and so on.
224600:03:42.126964 p167 The weakest thing we can say in general (beyond existence) is that investors always like more over less
224700:03:42.126966 p168 (APT) is the first such mixture of a little absolute pricing into a fundamentally relative-pricing problem. 是吗 APT is also a second source of inspiration for the factors in multifactor models.
224800:03:42.126969 p171 the discount factor interpretation has been a matter of aesthetics
224900:03:42.126971 This is only the beginning. The beauty of a discount factor framework is that it is easy to add all these restrictions and more together., cbSrc=20578
225000:03:42.127037 clipWinTxtToUtf8: returning VINF_SUCCESS
225100:03:42.127040 clipWinTxtToUtf8: converted string is
225200:03:42.127048
225300:03:42.127049 Tapiero2010
225400:03:42.127049
225500:03:42.127049 2016-11-27 09:20 <cite>Tapiero2010</cite> Risk Finance and Asset Pricing Value Measurements and Markets.pdf p165
225600:03:42.127050
225700:03:42.127050 1 =E((1+R_{i})M₁)=E((1+R_{i})(a+bR_{m}))
225800:03:42.127050 =E(1+R_{i})E(a+bR_{m})+cov(1+R_{i},a+bR_{m})
225900:03:42.127051
226000:03:42.127051 Let R_{i}=R_{f}, by 1=E((1+R_{i})M₁)
226100:03:42.127051
226200:03:42.127052 E(a+bR_{m})=(1/(1+R_{f}))
226300:03:42.127052
226400:03:42.127052 and 1=E((1+R_{m})(a+bR_{m}))
226500:03:42.127053
226600:03:42.127053 1=(1/(1+R_{f}))+aE(R_{m})+bE(R_{m}²)=(1/(1+R_{f}))+aE(R_{m})+bvar(R_{m})+bE(R_{m})²
226700:03:42.127053
226800:03:42.127054 thus
226900:03:42.127054
227000:03:42.127054 var(R_{m})=((R_{f})/(1+R_{f}))-E(R_{m})(a+bE(R_{m}))=((R_{f})/(1+R_{f}))-((E(R_{m}))/(1+R_{f}))
227100:03:42.127055
227200:03:42.127055 讨论 CAPM-cn.tex中
227300:03:42.127055
227400:03:42.127056 R_{M}=(1/(b-aR₀))(1+c-bR₀-((1+h(R₀))/(R₀))R_{:})
227500:03:42.127056
227600:03:42.127056
227700:03:42.127057 R_{:}=((R₀)/(1+h(R₀)))(1+c-bR₀-(b-aR₀)R_{M})
227800:03:42.127057
227900:03:42.127057 是为R_{M}的线性
228000:03:42.127057
228100:03:42.127058 R_{:}=η+ζR_{M}
228200:03:42.127058
228300:03:42.127058
228400:03:42.127059 HensRieger2010
228500:03:42.127059
228600:03:42.127059 2016-12-01 14:36 <cite>HensRieger2010</cite> Financial Economics: A Concise Introduction to Classical and Behavioral Finance
228700:03:42.127060 往mm命题靠,整了个很庞大的经济系统,一般均衡分析方法,资产的供给总说不清
228800:03:42.127060 p267 "The great difference between the industry of today as compared to that of yesterday is what might be referred to as the necessity of the scientific approach, the elimination of operation by hunches." Alfred P. Sloan
228900:03:42.127060 p268 no arbitrage condition (NAC) positive cash-flow in at least one state, but non-negative cash-flow in every state.
229000:03:42.127061 p274 While in the traditional view, the shareholder value of a firm depends on its debt-equity ratio, Modigliani and Miller show that under well defined conditions the funding of a firm is irrelevant. Their proof is based on an intuitive arbitrage argument
229100:03:42.127061
229200:03:42.127062 Culp2004
229300:03:42.127062
229400:03:42.127062 2016-12-01 14:49 <cite>Culp2004</cite> Risk Transfer: Derivatives in Theory and Practice
229500:03:42.127062 p144 Off-market derivatives, by contrast, do involve an initial payment by one counterparty to the other of an amount equal to the price of the contract---its expected discounted payoff. Off-market derivatives include options, prepaid forwards, and certain traditional forwards and swaps that are deliberately negotiated "off" the current market price.
229600:03:42.127063 In general, "asset pricing" is all about solving for discounted expected payoff to get a price.
229700:03:42.127063 For at-market derivatives, however, the task of "pricing" is instead the task of solving for the fixed rate or price that equates the discounted expected payoff to zero.
229800:03:42.127064 In this context, the phrase "derivatives pricing" thus very misleadingly refers to the determination of the fixed purchase price f_{t,T} that equates the discounted expected payoff to zero.
229900:03:42.127064 p146 For at-market derivatives, "pricing" means finding the fixed rate or price specified in the contract on the trade date that equates the true initial price of the contract to zero. For off-market derivatives, "pricing" requires actually computing the expected discounted payoff of the contract as of the trade date for a given fixed rate or price.
230000:03:42.127064 p147 In absolute pricing often called equilibrium asset-pricing models
230100:03:42.127065 In relative pricing, by contrast, we ask what we can learn about one asset's value given the prices of some other assets.
230200:03:42.127065 Relative pricing offers simplicity and tractability
230300:03:42.127065 p148 Investors do not value money directly. the consumption that money can buy is what really matters
230400:03:42.127066 p149 用无套利得到如下式子更方便
230500:03:42.127066
230600:03:42.127066 p_{t}^{}=E_{t}(m_{t+1}z_{t+1})
230700:03:42.127066
230800:03:42.127067 and one that relates the stochastic discount factor m_{t+1} to the intertemporal marginal rate of substitution (IMRS), by analogy with simple present value rules.
230900:03:42.127067 p150 In finance, we commonly do not think too much about consumption and utility functions. The stochastic discount factor remains an index of bad times (strictly speaking, growth in bad times). Finance theorists tend to think directly about discount factor models in which data such as the market return are used as indicators of bad versus good times.
231000:03:42.127068 As usual, unification came after the fact.
231100:03:42.127068 In applications to stocks and portfolios, it is often convenient to think about rates of return rather than prices. 思考
231200:03:42.127068
231300:03:42.127069 ∙ E(R)改变时,通常当前价格也要改变
231400:03:42.127069 ∙ 感觉用期望收益率,还是资本成本的旧思想
231500:03:42.127069 ∙ 好处:比较平稳
231600:03:42.127070 ∙ 毛收益率全部位于价格为1的超平面上
231700:03:42.127070
231800:03:42.127070 1=E_{t}(m_{t+1}R_{t+1})
231900:03:42.127070
232000:03:42.127071 因此没有价值创造(投入为1,产出的现值为1) 区别于投入到生产中,有价值创造
232100:03:42.127071
232200:03:42.127071 p151 Similarly, if we want to work with returns in excess of the risk-free rate R_{t+1}^{e}=R_{t+1}-R_{f} then (7.4) becomes
232300:03:42.127072
232400:03:42.127072 0=E_{t}(m_{t+1}R_{t+1}^{e})
232500:03:42.127072
232600:03:42.127073 超额收益率可以是任意两资产间,可以是两个风险资产间。
232700:03:42.127073 The expected excess return of each asset should be proportional to its beta. 提醒,beta 可不是由自己决定哦
232800:03:42.127073 p152 Risk aversion is the same thing as overestimating the probability of bad events.
232900:03:42.127074 Systematic versus Idiosyncratic Risk A central and classic idea in asset pricing is that only systematic risk generates a premium. Idiosyncratic risks are "not priced," meaning that you earn no more than the interest rate for holding them. 注:我感觉只是收益率的分解,并不是什么溢价
233000:03:42.127074 p153 Insurance is a terrible investment. The average return is negative Yet people willingly buy insurance. Why? Because insurance pays off well in bad times---just as the house stops smoldering, here comes a check in the mail.
233100:03:42.127074 2016-12-01 19:53
233200:03:42.127075 The volatility of the asset's cash flow per se is completely irrelevant to its risk premium
233300:03:42.127075 The systematic part of any risk is that part that is perfectly correlated with the discount factor The idiosyncratic part of any risk is that part that is uncorrelated with the discount factor. It generates no premium
233400:03:42.127075 p154 The CAPM, for example, is one special case of the general theory. It specifies that the discount factor is linearly related to the market return m_{t+1}=a-br_{t+1}^{} (more on this later).
233500:03:42.127076 In many portfolio management applications, "systematic" and "diversifiable" components are defined with multiple regressions on style portfolios, including size, book to market value, and industry groupings as well as the market portfolio. Implicitly, these definitions correspond to models that the discount factor is a function of these portfolio groupings. These specifications are fine, but they are special cases and they reflect lots of hidden assumptions. Other specifications may be useful.
233600:03:42.127076 For very little portfolio changes, covariance matters more than variance.
233700:03:42.127076 p155 We often call idiosyncratic risks "diversifiable" because they largely disappear in welldiversified portfolios.
233800:03:42.127077 Risks correlated with the business or company stock will be systematic for this investor, albeit not necessarily for the market as a whole.
233900:03:42.127077 idiosyncratic risk does matter for asset pricing. Most of these circumstances involve some form of "market incompleteness," such as institutional restrictions on the portfolio decisions of certain special investors, the nonmarketability of financial claims
234000:03:42.127077 p157 Historically, the CCAPM came last, in order to repair those problems.
234100:03:42.127078 The CAPM is mathematically identical to a specification of the discount factor linear in the market return, rather than linear in consumption growth
234200:03:42.127078 p158 Efforts to find theoretically purer proxies for the market portfolio of world invested wealth (<cite>Roll1977</cite>) have not helped 脱离模型设定了
234300:03:42.127078 The CAPM discount factor model is a sensible approximation. a linear function of the market return is a completely sufficient indicator of good and bad times
234400:03:42.127079 The CAPM (and all following models) is not an alternative to the consumption-based model; it is a special case.
234500:03:42.127079 In addition, all investors in a CAPM world must hold the same portfolio of assets---the market portfolio
234600:03:42.127079 p159 Technically, this model generalizes the CAPM assumption that the market return is independent over time. 问题:CAPM 本来是单期模型啊,怎么会有此假设
234700:03:42.127080 p160 What are the additional sources of risk about which investors are economically concerned?
234800:03:42.127080 what fundamental macroeconomic risks are behind the value effect, not just understand a set of mimicking portfolios that capture them for empirical work.
234900:03:42.127080 问题:FF3 有什么用途?
235000:03:42.127081 p161 in which the discount factor is only a function of the market return and state variables) by presuming that investors have no jobs or other assets; they simply live off their portfolios of financial assets. 我觉得不是定价,是风险分解
235100:03:42.127081 The grandfather of all of these is the <cite>ChenRR1986</cite> multifactor model
235200:03:42.127081 <cite>PastorStambaugh2003</cite> are finally documenting the importance of liquidity.
235300:03:42.127082 p162 In principle, valuing a bond is easier than valuing other securities, because the payoff is fixed.
235400:03:42.127082 p164 selected for empirical fit (in sample) rather than even armchair theorizing about good and bad states.
235500:03:42.127082 To find the value of a McDonald's hamburger, absolute pricing starts thinking about how much it costs to feed a cow. Relative pricing looks at the price of a hamburger at Burger King.
235600:03:42.127083 p165 The relative pricing approach uses information from other asset prices in order to construct a discount factor useful for pricing a given asset.
235700:03:42.127083 "Arbitrage pricing" is the purest case of relative pricing, neatly cuts short the endless discussion over what are the true risk factors, market price of risk, and so on.
235800:03:42.127083 Arbitrage pricing should really be called "Law of One Price pricing," and probably would be if the latter were not so ugly a name. 错!
235900:03:42.127084 p166 every asset pricing model posits that there is some discount factor,
236000:03:42.127084 Arbitrage pricing, however, is not completely assumption-free. It assumes that there is some discount factor. 错!市场完全时,完全可以找出来,而不是假设出来
236100:03:42.127084 The Law of One Price is routinely violated in retail stores 这不是金融市场
236200:03:42.127085 even a textbook-perfect hedge is exposed to some risk arising from institutional frictions, transaction costs, illiquidity, and so forth. More often, there is no textbook-perfect hedge, due to nonmarketed risks such as changing volatility, shifting interest rates, asset specific liquidity premiums, nonmarketed fundamental securities, and so on.
236300:03:42.127085 p167 The weakest thing we can say in general (beyond existence) is that investors always like more over less
236400:03:42.127085 p168 (APT) is the first such mixture of a little absolute pricing into a fundamentally relative-pricing problem. 是吗 APT is also a second source of inspiration for the factors in multifactor models.
236500:03:42.127086 p171 the discount factor interpretation has been a matter of aesthetics
236600:03:42.127086 This is only the beginning. The beauty of a discount factor framework is that it is easy to add all these restrictions and more together.. Returning.
236700:03:42.127094 clipXtConvertSelectionProc: returning, internal status code VINF_SUCCESS
236800:03:42.127420 clipXtConvertSelectionProc:
236900:03:42.127431 clipCreateX11Targets: called
237000:03:42.127435 clipXtConvertSelectionProc: returning, internal status code VINF_SUCCESS
237100:03:42.127667 clipXtConvertSelectionProc:
237200:03:42.127674 clipCreateX11Targets: called
237300:03:42.127678 clipXtConvertSelectionProc: returning, internal status code VINF_SUCCESS
237400:03:42.127784 clipXtConvertSelectionProc:
237500:03:42.127787 clipCreateX11Targets: called
237600:03:42.127789 clipXtConvertSelectionProc: returning, internal status code VINF_SUCCESS
237700:03:42.127843 clipXtConvertSelectionProc:
237800:03:42.127852 clipCreateX11Targets: called
237900:03:42.127855 clipXtConvertSelectionProc: returning, internal status code VINF_SUCCESS
238000:03:42.127895 clipXtConvertSelectionProc:
238100:03:42.127899 clipCreateX11Targets: called
238200:03:42.127902 clipXtConvertSelectionProc: returning, internal status code VINF_SUCCESS
238300:03:42.127953 clipXtConvertSelectionProc:
238400:03:42.127959 clipCreateX11Targets: called
238500:03:42.127962 clipXtConvertSelectionProc: returning, internal status code VINF_SUCCESS
238600:03:42.128018 clipXtConvertSelectionProc:
238700:03:42.128021 clipCreateX11Targets: called
238800:03:42.128024 clipXtConvertSelectionProc: returning, internal status code VINF_SUCCESS
238900:03:42.128089 clipXtConvertSelectionProc:
239000:03:42.128093 clipCreateX11Targets: called
239100:03:42.128095 clipXtConvertSelectionProc: returning, internal status code VINF_SUCCESS
239200:03:42.128189 clipXtConvertSelectionProc:
239300:03:42.128193 clipReadVBoxClipboard: pCtx=00007fc1a4001bc0, u32Format=01, ppv=00007fc18c1678a8, pcb=00007fc18c1678a4
239400:03:42.128200 clipReadVBoxClipboard: returning VINF_SUCCESS
239500:03:42.128202 clipReadVBoxClipboard: *ppv=
239600:03:42.128223
239700:03:42.128224 Tapiero2010
239800:03:42.128224
239900:03:42.128224 2016-11-27 09:20 <cite>Tapiero2010</cite> Risk Finance and Asset Pricing Value Measurements and Markets.pdf p165
240000:03:42.128227
240100:03:42.128227 1 =E((1+R_{i})M₁)=E((1+R_{i})(a+bR_{m}))
240200:03:42.128228 =E(1+R_{i})E(a+bR_{m})+cov(1+R_{i},a+bR_{m})
240300:03:42.128229
240400:03:42.128229 Let R_{i}=R_{f}, by 1=E((1+R_{i})M₁)
240500:03:42.128230
240600:03:42.128230 E(a+bR_{m})=(1/(1+R_{f}))
240700:03:42.128231
240800:03:42.128231 and 1=E((1+R_{m})(a+bR_{m}))
240900:03:42.128232
241000:03:42.128232 1=(1/(1+R_{f}))+aE(R_{m})+bE(R_{m}²)=(1/(1+R_{f}))+aE(R_{m})+bvar(R_{m})+bE(R_{m})²
241100:03:42.128234
241200:03:42.128234 thus
241300:03:42.128235
241400:03:42.128235 var(R_{m})=((R_{f})/(1+R_{f}))-E(R_{m})(a+bE(R_{m}))=((R_{f})/(1+R_{f}))-((E(R_{m}))/(1+R_{f}))
241500:03:42.128237
241600:03:42.128237 讨论 CAPM-cn.tex中
241700:03:42.128238
241800:03:42.128238 R_{M}=(1/(b-aR₀))(1+c-bR₀-((1+h(R₀))/(R₀))R_{:})
241900:03:42.128239
242000:03:42.128239
242100:03:42.128240 R_{:}=((R₀)/(1+h(R₀)))(1+c-bR₀-(b-aR₀)R_{M})
242200:03:42.128241
242300:03:42.128241 是为R_{M}的线性
242400:03:42.128241
242500:03:42.128242 R_{:}=η+ζR_{M}
242600:03:42.128242
242700:03:42.128243
242800:03:42.128243 HensRieger2010
242900:03:42.128243
243000:03:42.128244 2016-12-01 14:36 <cite>HensRieger2010</cite> Financial Economics: A Concise Introduction to Classical and Behavioral Finance
243100:03:42.128246 往mm命题靠,整了个很庞大的经济系统,一般均衡分析方法,资产的供给总说不清
243200:03:42.128247 p267 "The great difference between the industry of today as compared to that of yesterday is what might be referred to as the necessity of the scientific approach, the elimination of operation by hunches." Alfred P. Sloan
243300:03:42.128250 p268 no arbitrage condition (NAC) positive cash-flow in at least one state, but non-negative cash-flow in every state.
243400:03:42.128253 p274 While in the traditional view, the shareholder value of a firm depends on its debt-equity ratio, Modigliani and Miller show that under well defined conditions the funding of a firm is irrelevant. Their proof is based on an intuitive arbitrage argument
243500:03:42.128257
243600:03:42.128257 Culp2004
243700:03:42.128257
243800:03:42.128258 2016-12-01 14:49 <cite>Culp2004</cite> Risk Transfer: Derivatives in Theory and Practice
243900:03:42.128259 p144 Off-market derivatives, by contrast, do involve an initial payment by one counterparty to the other of an amount equal to the price of the contract---its expected discounted payoff. Off-market derivatives include options, prepaid forwards, and certain traditional forwards and swaps that are deliberately negotiated "off" the current market price.
244000:03:42.128265 In general, "asset pricing" is all about solving for discounted expected payoff to get a price.
244100:03:42.128266 For at-market derivatives, however, the task of "pricing" is instead the task of solving for the fixed rate or price that equates the discounted expected payoff to zero.
244200:03:42.128269 In this context, the phrase "derivatives pricing" thus very misleadingly refers to the determination of the fixed purchase price f_{t,T} that equates the discounted expected payoff to zero.
244300:03:42.128272 p146 For at-market derivatives, "pricing" means finding the fixed rate or price specified in the contract on the trade date that equates the true initial price of the contract to zero. For off-market derivatives, "pricing" requires actually computing the expected discounted payoff of the contract as of the trade date for a given fixed rate or price.
244400:03:42.128277 p147 In absolute pricing often called equilibrium asset-pricing models
244500:03:42.128279 In relative pricing, by contrast, we ask what we can learn about one asset's value given the prices of some other assets.
244600:03:42.128281 Relative pricing offers simplicity and tractability
244700:03:42.128282 p148 Investors do not value money directly. the consumption that money can buy is what really matters
244800:03:42.128284 p149 用无套利得到如下式子更方便
244900:03:42.128284
245000:03:42.128285 p_{t}^{}=E_{t}(m_{t+1}z_{t+1})
245100:03:42.128286
245200:03:42.128286 and one that relates the stochastic discount factor m_{t+1} to the intertemporal marginal rate of substitution (IMRS), by analogy with simple present value rules.
245300:03:42.128288 p150 In finance, we commonly do not think too much about consumption and utility functions. The stochastic discount factor remains an index of bad times (strictly speaking, growth in bad times). Finance theorists tend to think directly about discount factor models in which data such as the market return are used as indicators of bad versus good times.
245400:03:42.128294 As usual, unification came after the fact.
245500:03:42.128295 In applications to stocks and portfolios, it is often convenient to think about rates of return rather than prices. 思考
245600:03:42.128297
245700:03:42.128297 ∙ E(R)改变时,通常当前价格也要改变
245800:03:42.128298 ∙ 感觉用期望收益率,还是资本成本的旧思想
245900:03:42.128299 ∙ 好处:比较平稳
246000:03:42.128299 ∙ 毛收益率全部位于价格为1的超平面上
246100:03:42.128300
246200:03:42.128300 1=E_{t}(m_{t+1}R_{t+1})
246300:03:42.128301
246400:03:42.128301 因此没有价值创造(投入为1,产出的现值为1) 区别于投入到生产中,有价值创造
246500:03:42.128302
246600:03:42.128303 p151 Similarly, if we want to work with returns in excess of the risk-free rate R_{t+1}^{e}=R_{t+1}-R_{f} then (7.4) becomes
246700:03:42.128305
246800:03:42.128305 0=E_{t}(m_{t+1}R_{t+1}^{e})
246900:03:42.128306
247000:03:42.128306 超额收益率可以是任意两资产间,可以是两个风险资产间。
247100:03:42.128307 The expected excess return of each asset should be proportional to its beta. 提醒,beta 可不是由自己决定哦
247200:03:42.128309 p152 Risk aversion is the same thing as overestimating the probability of bad events.
247300:03:42.128310 Systematic versus Idiosyncratic Risk A central and classic idea in asset pricing is that only systematic risk generates a premium. Idiosyncratic risks are "not priced," meaning that you earn no more than the interest rate for holding them. 注:我感觉只是收益率的分解,并不是什么溢价
247400:03:42.128314 p153 Insurance is a terrible investment. The average return is negative Yet people willingly buy insurance. Why? Because insurance pays off well in bad times---just as the house stops smoldering, here comes a check in the mail.
247500:03:42.128318 2016-12-01 19:53
247600:03:42.128318 The volatility of the asset's cash flow per se is completely irrelevant to its risk premium
247700:03:42.128320 The systematic part of any risk is that part that is perfectly correlated with the discount factor The idiosyncratic part of any risk is that part that is uncorrelated with the discount factor. It generates no premium
247800:03:42.128323 p154 The CAPM, for example, is one special case of the general theory. It specifies that the discount factor is linearly related to the market return m_{t+1}=a-br_{t+1}^{} (more on this later).
247900:03:42.128327 In many portfolio management applications, "systematic" and "diversifiable" components are defined with multiple regressions on style portfolios, including size, book to market value, and industry groupings as well as the market portfolio. Implicitly, these definitions correspond to models that the discount factor is a function of these portfolio groupings. These specifications are fine, but they are special cases and they reflect lots of hidden assumptions. Other specifications may be useful.
248000:03:42.128334 For very little portfolio changes, covariance matters more than variance.
248100:03:42.128335 p155 We often call idiosyncratic risks "diversifiable" because they largely disappear in welldiversified portfolios.
248200:03:42.128337 Risks correlated with the business or company stock will be systematic for this investor, albeit not necessarily for the market as a whole.
248300:03:42.128339 idiosyncratic risk does matter for asset pricing. Most of these circumstances involve some form of "market incompleteness," such as institutional restrictions on the portfolio decisions of certain special investors, the nonmarketability of financial claims
248400:03:42.128343 p157 Historically, the CCAPM came last, in order to repair those problems.
248500:03:42.128345 The CAPM is mathematically identical to a specification of the discount factor linear in the market return, rather than linear in consumption growth
248600:03:42.128347 p158 Efforts to find theoretically purer proxies for the market portfolio of world invested wealth (<cite>Roll1977</cite>) have not helped 脱离模型设定了
248700:03:42.128350 The CAPM discount factor model is a sensible approximation. a linear function of the market return is a completely sufficient indicator of good and bad times
248800:03:42.128352 The CAPM (and all following models) is not an alternative to the consumption-based model; it is a special case.
248900:03:42.128354 In addition, all investors in a CAPM world must hold the same portfolio of assets---the market portfolio
249000:03:42.128356 p159 Technically, this model generalizes the CAPM assumption that the market return is independent over time. 问题:CAPM 本来是单期模型啊,怎么会有此假设
249100:03:42.128358 p160 What are the additional sources of risk about which investors are economically concerned?
249200:03:42.128360 what fundamental macroeconomic risks are behind the value effect, not just understand a set of mimicking portfolios that capture them for empirical work.
249300:03:42.128363 问题:FF3 有什么用途?
249400:03:42.128363 p161 in which the discount factor is only a function of the market return and state variables) by presuming that investors have no jobs or other assets; they simply live off their portfolios of financial assets. 我觉得不是定价,是风险分解
249500:03:42.128367 The grandfather of all of these is the <cite>ChenRR1986</cite> multifactor model
249600:03:42.128368 <cite>PastorStambaugh2003</cite> are finally documenting the importance of liquidity.
249700:03:42.128370 p162 In principle, valuing a bond is easier than valuing other securities, because the payoff is fixed.
249800:03:42.128372 p164 selected for empirical fit (in sample) rather than even armchair theorizing about good and bad states.
249900:03:42.128374 To find the value of a McDonald's hamburger, absolute pricing starts thinking about how much it costs to feed a cow. Relative pricing looks at the price of a hamburger at Burger King.
250000:03:42.128377 p165 The relative pricing approach uses information from other asset prices in order to construct a discount factor useful for pricing a given asset.
250100:03:42.128379 "Arbitrage pricing" is the purest case of relative pricing, neatly cuts short the endless discussion over what are the true risk factors, market price of risk, and so on.
250200:03:42.128382 Arbitrage pricing should really be called "Law of One Price pricing," and probably would be if the latter were not so ugly a name. 错!
250300:03:42.128384 p166 every asset pricing model posits that there is some discount factor,
250400:03:42.128385 Arbitrage pricing, however, is not completely assumption-free. It assumes that there is some discount factor. 错!市场完全时,完全可以找出来,而不是假设出来
250500:03:42.128388 The Law of One Price is routinely violated in retail stores 这不是金融市场
250600:03:42.128389 even a textbook-perfect hedge is exposed to some risk arising from institutional frictions, transaction costs, illiquidity, and so forth. More often, there is no textbook-perfect hedge, due to nonmarketed risks such as changing volatility, shifting interest rates, asset specific liquidity premiums, nonmarketed fundamental securities, and so on.
250700:03:42.128394 p167 The weakest thing we can say in general (beyond existence) is that investors always like more over less
250800:03:42.128396 p168 (APT) is the first such mixture of a little absolute pricing into a fundamentally relative-pricing problem. 是吗 APT is also a second source of inspiration for the factors in multifactor models.
250900:03:42.128399 p171 the discount factor interpretation has been a matter of aesthetics
251000:03:42.128401 This is only the beginning. The beauty of a discount factor framework is that it is easy to add all these restrictions and more together., *pcb=20578
251100:03:42.128428 clipWinTxtToUtf8: pwszSrc=
251200:03:42.128449
251300:03:42.128449 Tapiero2010
251400:03:42.128449
251500:03:42.128450 2016-11-27 09:20 <cite>Tapiero2010</cite> Risk Finance and Asset Pricing Value Measurements and Markets.pdf p165
251600:03:42.128452
251700:03:42.128452 1 =E((1+R_{i})M₁)=E((1+R_{i})(a+bR_{m}))
251800:03:42.128453 =E(1+R_{i})E(a+bR_{m})+cov(1+R_{i},a+bR_{m})
251900:03:42.128454
252000:03:42.128454 Let R_{i}=R_{f}, by 1=E((1+R_{i})M₁)
252100:03:42.128455
252200:03:42.128455 E(a+bR_{m})=(1/(1+R_{f}))
252300:03:42.128456
252400:03:42.128456 and 1=E((1+R_{m})(a+bR_{m}))
252500:03:42.128457
252600:03:42.128457 1=(1/(1+R_{f}))+aE(R_{m})+bE(R_{m}²)=(1/(1+R_{f}))+aE(R_{m})+bvar(R_{m})+bE(R_{m})²
252700:03:42.128459
252800:03:42.128459 thus
252900:03:42.128460
253000:03:42.128460 var(R_{m})=((R_{f})/(1+R_{f}))-E(R_{m})(a+bE(R_{m}))=((R_{f})/(1+R_{f}))-((E(R_{m}))/(1+R_{f}))
253100:03:42.128462
253200:03:42.128462 讨论 CAPM-cn.tex中
253300:03:42.128463
253400:03:42.128463 R_{M}=(1/(b-aR₀))(1+c-bR₀-((1+h(R₀))/(R₀))R_{:})
253500:03:42.128464
253600:03:42.128464
253700:03:42.128465 R_{:}=((R₀)/(1+h(R₀)))(1+c-bR₀-(b-aR₀)R_{M})
253800:03:42.128465
253900:03:42.128466 是为R_{M}的线性
254000:03:42.128466
254100:03:42.128467 R_{:}=η+ζR_{M}
254200:03:42.128467
254300:03:42.128467
254400:03:42.128468 HensRieger2010
254500:03:42.128468
254600:03:42.128469 2016-12-01 14:36 <cite>HensRieger2010</cite> Financial Economics: A Concise Introduction to Classical and Behavioral Finance
254700:03:42.128471 往mm命题靠,整了个很庞大的经济系统,一般均衡分析方法,资产的供给总说不清
254800:03:42.128472 p267 "The great difference between the industry of today as compared to that of yesterday is what might be referred to as the necessity of the scientific approach, the elimination of operation by hunches." Alfred P. Sloan
254900:03:42.128475 p268 no arbitrage condition (NAC) positive cash-flow in at least one state, but non-negative cash-flow in every state.
255000:03:42.128477 p274 While in the traditional view, the shareholder value of a firm depends on its debt-equity ratio, Modigliani and Miller show that under well defined conditions the funding of a firm is irrelevant. Their proof is based on an intuitive arbitrage argument
255100:03:42.128481
255200:03:42.128482 Culp2004
255300:03:42.128482
255400:03:42.128482 2016-12-01 14:49 <cite>Culp2004</cite> Risk Transfer: Derivatives in Theory and Practice
255500:03:42.128484 p144 Off-market derivatives, by contrast, do involve an initial payment by one counterparty to the other of an amount equal to the price of the contract---its expected discounted payoff. Off-market derivatives include options, prepaid forwards, and certain traditional forwards and swaps that are deliberately negotiated "off" the current market price.
255600:03:42.128489 In general, "asset pricing" is all about solving for discounted expected payoff to get a price.
255700:03:42.128491 For at-market derivatives, however, the task of "pricing" is instead the task of solving for the fixed rate or price that equates the discounted expected payoff to zero.
255800:03:42.128494 In this context, the phrase "derivatives pricing" thus very misleadingly refers to the determination of the fixed purchase price f_{t,T} that equates the discounted expected payoff to zero.
255900:03:42.128497 p146 For at-market derivatives, "pricing" means finding the fixed rate or price specified in the contract on the trade date that equates the true initial price of the contract to zero. For off-market derivatives, "pricing" requires actually computing the expected discounted payoff of the contract as of the trade date for a given fixed rate or price.
256000:03:42.128502 p147 In absolute pricing often called equilibrium asset-pricing models
256100:03:42.128503 In relative pricing, by contrast, we ask what we can learn about one asset's value given the prices of some other assets.
256200:03:42.128505 Relative pricing offers simplicity and tractability
256300:03:42.128507 p148 Investors do not value money directly. the consumption that money can buy is what really matters
256400:03:42.128508 p149 用无套利得到如下式子更方便
256500:03:42.128509
256600:03:42.128509 p_{t}^{}=E_{t}(m_{t+1}z_{t+1})
256700:03:42.128510
256800:03:42.128510 and one that relates the stochastic discount factor m_{t+1} to the intertemporal marginal rate of substitution (IMRS), by analogy with simple present value rules.
256900:03:42.128513 p150 In finance, we commonly do not think too much about consumption and utility functions. The stochastic discount factor remains an index of bad times (strictly speaking, growth in bad times). Finance theorists tend to think directly about discount factor models in which data such as the market return are used as indicators of bad versus good times.
257000:03:42.128518 As usual, unification came after the fact.
257100:03:42.128519 In applications to stocks and portfolios, it is often convenient to think about rates of return rather than prices. 思考
257200:03:42.128521
257300:03:42.128522 ∙ E(R)改变时,通常当前价格也要改变
257400:03:42.128522 ∙ 感觉用期望收益率,还是资本成本的旧思想
257500:03:42.128523 ∙ 好处:比较平稳
257600:03:42.128524 ∙ 毛收益率全部位于价格为1的超平面上
257700:03:42.128524
257800:03:42.128525 1=E_{t}(m_{t+1}R_{t+1})
257900:03:42.128525
258000:03:42.128526 因此没有价值创造(投入为1,产出的现值为1) 区别于投入到生产中,有价值创造
258100:03:42.128527
258200:03:42.128527 p151 Similarly, if we want to work with returns in excess of the risk-free rate R_{t+1}^{e}=R_{t+1}-R_{f} then (7.4) becomes
258300:03:42.128529
258400:03:42.128530 0=E_{t}(m_{t+1}R_{t+1}^{e})
258500:03:42.128530
258600:03:42.128531 超额收益率可以是任意两资产间,可以是两个风险资产间。
258700:03:42.128531 The expected excess return of each asset should be proportional to its beta. 提醒,beta 可不是由自己决定哦
258800:03:42.128533 p152 Risk aversion is the same thing as overestimating the probability of bad events.
258900:03:42.128535 Systematic versus Idiosyncratic Risk A central and classic idea in asset pricing is that only systematic risk generates a premium. Idiosyncratic risks are "not priced," meaning that you earn no more than the interest rate for holding them. 注:我感觉只是收益率的分解,并不是什么溢价
259000:03:42.128539 p153 Insurance is a terrible investment. The average return is negative Yet people willingly buy insurance. Why? Because insurance pays off well in bad times---just as the house stops smoldering, here comes a check in the mail.
259100:03:42.128542 2016-12-01 19:53
259200:03:42.128543 The volatility of the asset's cash flow per se is completely irrelevant to its risk premium
259300:03:42.128545 The systematic part of any risk is that part that is perfectly correlated with the discount factor The idiosyncratic part of any risk is that part that is uncorrelated with the discount factor. It generates no premium
259400:03:42.128548 p154 The CAPM, for example, is one special case of the general theory. It specifies that the discount factor is linearly related to the market return m_{t+1}=a-br_{t+1}^{} (more on this later).
259500:03:42.128551 In many portfolio management applications, "systematic" and "diversifiable" components are defined with multiple regressions on style portfolios, including size, book to market value, and industry groupings as well as the market portfolio. Implicitly, these definitions correspond to models that the discount factor is a function of these portfolio groupings. These specifications are fine, but they are special cases and they reflect lots of hidden assumptions. Other specifications may be useful.
259600:03:42.128558 For very little portfolio changes, covariance matters more than variance.
259700:03:42.128560 p155 We often call idiosyncratic risks "diversifiable" because they largely disappear in welldiversified portfolios.
259800:03:42.128562 Risks correlated with the business or company stock will be systematic for this investor, albeit not necessarily for the market as a whole.
259900:03:42.128564 idiosyncratic risk does matter for asset pricing. Most of these circumstances involve some form of "market incompleteness," such as institutional restrictions on the portfolio decisions of certain special investors, the nonmarketability of financial claims
260000:03:42.128568 p157 Historically, the CCAPM came last, in order to repair those problems.
260100:03:42.128569 The CAPM is mathematically identical to a specification of the discount factor linear in the market return, rather than linear in consumption growth
260200:03:42.128572 p158 Efforts to find theoretically purer proxies for the market portfolio of world invested wealth (<cite>Roll1977</cite>) have not helped 脱离模型设定了
260300:03:42.128574 The CAPM discount factor model is a sensible approximation. a linear function of the market return is a completely sufficient indicator of good and bad times
260400:03:42.128577 The CAPM (and all following models) is not an alternative to the consumption-based model; it is a special case.
260500:03:42.128579 In addition, all investors in a CAPM world must hold the same portfolio of assets---the market portfolio
260600:03:42.128581 p159 Technically, this model generalizes the CAPM assumption that the market return is independent over time. 问题:CAPM 本来是单期模型啊,怎么会有此假设
260700:03:42.128583 p160 What are the additional sources of risk about which investors are economically concerned?
260800:03:42.128585 what fundamental macroeconomic risks are behind the value effect, not just understand a set of mimicking portfolios that capture them for empirical work.
260900:03:42.128587 问题:FF3 有什么用途?
261000:03:42.128588 p161 in which the discount factor is only a function of the market return and state variables) by presuming that investors have no jobs or other assets; they simply live off their portfolios of financial assets. 我觉得不是定价,是风险分解
261100:03:42.128591 The grandfather of all of these is the <cite>ChenRR1986</cite> multifactor model
261200:03:42.128593 <cite>PastorStambaugh2003</cite> are finally documenting the importance of liquidity.
261300:03:42.128595 p162 In principle, valuing a bond is easier than valuing other securities, because the payoff is fixed.
261400:03:42.128596 p164 selected for empirical fit (in sample) rather than even armchair theorizing about good and bad states.
261500:03:42.128598 To find the value of a McDonald's hamburger, absolute pricing starts thinking about how much it costs to feed a cow. Relative pricing looks at the price of a hamburger at Burger King.
261600:03:42.128601 p165 The relative pricing approach uses information from other asset prices in order to construct a discount factor useful for pricing a given asset.
261700:03:42.128604 "Arbitrage pricing" is the purest case of relative pricing, neatly cuts short the endless discussion over what are the true risk factors, market price of risk, and so on.
261800:03:42.128606 Arbitrage pricing should really be called "Law of One Price pricing," and probably would be if the latter were not so ugly a name. 错!
261900:03:42.128609 p166 every asset pricing model posits that there is some discount factor,
262000:03:42.128610 Arbitrage pricing, however, is not completely assumption-free. It assumes that there is some discount factor. 错!市场完全时,完全可以找出来,而不是假设出来
262100:03:42.128612 The Law of One Price is routinely violated in retail stores 这不是金融市场
262200:03:42.128614 even a textbook-perfect hedge is exposed to some risk arising from institutional frictions, transaction costs, illiquidity, and so forth. More often, there is no textbook-perfect hedge, due to nonmarketed risks such as changing volatility, shifting interest rates, asset specific liquidity premiums, nonmarketed fundamental securities, and so on.
262300:03:42.128619 p167 The weakest thing we can say in general (beyond existence) is that investors always like more over less
262400:03:42.128621 p168 (APT) is the first such mixture of a little absolute pricing into a fundamentally relative-pricing problem. 是吗 APT is also a second source of inspiration for the factors in multifactor models.
262500:03:42.128624 p171 the discount factor interpretation has been a matter of aesthetics
262600:03:42.128626 This is only the beginning. The beauty of a discount factor framework is that it is easy to add all these restrictions and more together., cbSrc=20578
262700:03:42.128692 clipWinTxtToUtf8: returning VINF_SUCCESS
262800:03:42.128694 clipWinTxtToUtf8: converted string is
262900:03:42.128703
263000:03:42.128703 Tapiero2010
263100:03:42.128704
263200:03:42.128704 2016-11-27 09:20 <cite>Tapiero2010</cite> Risk Finance and Asset Pricing Value Measurements and Markets.pdf p165
263300:03:42.128704
263400:03:42.128705 1 =E((1+R_{i})M₁)=E((1+R_{i})(a+bR_{m}))
263500:03:42.128705 =E(1+R_{i})E(a+bR_{m})+cov(1+R_{i},a+bR_{m})
263600:03:42.128705
263700:03:42.128706 Let R_{i}=R_{f}, by 1=E((1+R_{i})M₁)
263800:03:42.128706
263900:03:42.128706 E(a+bR_{m})=(1/(1+R_{f}))
264000:03:42.128707
264100:03:42.128707 and 1=E((1+R_{m})(a+bR_{m}))
264200:03:42.128707
264300:03:42.128707 1=(1/(1+R_{f}))+aE(R_{m})+bE(R_{m}²)=(1/(1+R_{f}))+aE(R_{m})+bvar(R_{m})+bE(R_{m})²
264400:03:42.128708
264500:03:42.128708 thus
264600:03:42.128708
264700:03:42.128709 var(R_{m})=((R_{f})/(1+R_{f}))-E(R_{m})(a+bE(R_{m}))=((R_{f})/(1+R_{f}))-((E(R_{m}))/(1+R_{f}))
264800:03:42.128709
264900:03:42.128709 讨论 CAPM-cn.tex中
265000:03:42.128710
265100:03:42.128710 R_{M}=(1/(b-aR₀))(1+c-bR₀-((1+h(R₀))/(R₀))R_{:})
265200:03:42.128710
265300:03:42.128711
265400:03:42.128711 R_{:}=((R₀)/(1+h(R₀)))(1+c-bR₀-(b-aR₀)R_{M})
265500:03:42.128711
265600:03:42.128712 是为R_{M}的线性
265700:03:42.128712
265800:03:42.128712 R_{:}=η+ζR_{M}
265900:03:42.128713
266000:03:42.128713
266100:03:42.128713 HensRieger2010
266200:03:42.128714
266300:03:42.128714 2016-12-01 14:36 <cite>HensRieger2010</cite> Financial Economics: A Concise Introduction to Classical and Behavioral Finance
266400:03:42.128714 往mm命题靠,整了个很庞大的经济系统,一般均衡分析方法,资产的供给总说不清
266500:03:42.128715 p267 "The great difference between the industry of today as compared to that of yesterday is what might be referred to as the necessity of the scientific approach, the elimination of operation by hunches." Alfred P. Sloan
266600:03:42.128715 p268 no arbitrage condition (NAC) positive cash-flow in at least one state, but non-negative cash-flow in every state.
266700:03:42.128715 p274 While in the traditional view, the shareholder value of a firm depends on its debt-equity ratio, Modigliani and Miller show that under well defined conditions the funding of a firm is irrelevant. Their proof is based on an intuitive arbitrage argument
266800:03:42.128716
266900:03:42.128716 Culp2004
267000:03:42.128716
267100:03:42.128717 2016-12-01 14:49 <cite>Culp2004</cite> Risk Transfer: Derivatives in Theory and Practice
267200:03:42.128717 p144 Off-market derivatives, by contrast, do involve an initial payment by one counterparty to the other of an amount equal to the price of the contract---its expected discounted payoff. Off-market derivatives include options, prepaid forwards, and certain traditional forwards and swaps that are deliberately negotiated "off" the current market price.
267300:03:42.128717 In general, "asset pricing" is all about solving for discounted expected payoff to get a price.
267400:03:42.128718 For at-market derivatives, however, the task of "pricing" is instead the task of solving for the fixed rate or price that equates the discounted expected payoff to zero.
267500:03:42.128718 In this context, the phrase "derivatives pricing" thus very misleadingly refers to the determination of the fixed purchase price f_{t,T} that equates the discounted expected payoff to zero.
267600:03:42.128718 p146 For at-market derivatives, "pricing" means finding the fixed rate or price specified in the contract on the trade date that equates the true initial price of the contract to zero. For off-market derivatives, "pricing" requires actually computing the expected discounted payoff of the contract as of the trade date for a given fixed rate or price.
267700:03:42.128719 p147 In absolute pricing often called equilibrium asset-pricing models
267800:03:42.128719 In relative pricing, by contrast, we ask what we can learn about one asset's value given the prices of some other assets.
267900:03:42.128719 Relative pricing offers simplicity and tractability
268000:03:42.128720 p148 Investors do not value money directly. the consumption that money can buy is what really matters
268100:03:42.128720 p149 用无套利得到如下式子更方便
268200:03:42.128720
268300:03:42.128721 p_{t}^{}=E_{t}(m_{t+1}z_{t+1})
268400:03:42.128721
268500:03:42.128721 and one that relates the stochastic discount factor m_{t+1} to the intertemporal marginal rate of substitution (IMRS), by analogy with simple present value rules.
268600:03:42.128722 p150 In finance, we commonly do not think too much about consumption and utility functions. The stochastic discount factor remains an index of bad times (strictly speaking, growth in bad times). Finance theorists tend to think directly about discount factor models in which data such as the market return are used as indicators of bad versus good times.
268700:03:42.128722 As usual, unification came after the fact.
268800:03:42.128722 In applications to stocks and portfolios, it is often convenient to think about rates of return rather than prices. 思考
268900:03:42.128723
269000:03:42.128723 ∙ E(R)改变时,通常当前价格也要改变
269100:03:42.128723 ∙ 感觉用期望收益率,还是资本成本的旧思想
269200:03:42.128724 ∙ 好处:比较平稳
269300:03:42.128724 ∙ 毛收益率全部位于价格为1的超平面上
269400:03:42.128724
269500:03:42.128725 1=E_{t}(m_{t+1}R_{t+1})
269600:03:42.128725
269700:03:42.128725 因此没有价值创造(投入为1,产出的现值为1) 区别于投入到生产中,有价值创造
269800:03:42.128725
269900:03:42.128726 p151 Similarly, if we want to work with returns in excess of the risk-free rate R_{t+1}^{e}=R_{t+1}-R_{f} then (7.4) becomes
270000:03:42.128726
270100:03:42.128726 0=E_{t}(m_{t+1}R_{t+1}^{e})
270200:03:42.128727
270300:03:42.128727 超额收益率可以是任意两资产间,可以是两个风险资产间。
270400:03:42.128727 The expected excess return of each asset should be proportional to its beta. 提醒,beta 可不是由自己决定哦
270500:03:42.128728 p152 Risk aversion is the same thing as overestimating the probability of bad events.
270600:03:42.128728 Systematic versus Idiosyncratic Risk A central and classic idea in asset pricing is that only systematic risk generates a premium. Idiosyncratic risks are "not priced," meaning that you earn no more than the interest rate for holding them. 注:我感觉只是收益率的分解,并不是什么溢价
270700:03:42.128728 p153 Insurance is a terrible investment. The average return is negative Yet people willingly buy insurance. Why? Because insurance pays off well in bad times---just as the house stops smoldering, here comes a check in the mail.
270800:03:42.128729 2016-12-01 19:53
270900:03:42.128729 The volatility of the asset's cash flow per se is completely irrelevant to its risk premium
271000:03:42.128729 The systematic part of any risk is that part that is perfectly correlated with the discount factor The idiosyncratic part of any risk is that part that is uncorrelated with the discount factor. It generates no premium
271100:03:42.128730 p154 The CAPM, for example, is one special case of the general theory. It specifies that the discount factor is linearly related to the market return m_{t+1}=a-br_{t+1}^{} (more on this later).
271200:03:42.128730 In many portfolio management applications, "systematic" and "diversifiable" components are defined with multiple regressions on style portfolios, including size, book to market value, and industry groupings as well as the market portfolio. Implicitly, these definitions correspond to models that the discount factor is a function of these portfolio groupings. These specifications are fine, but they are special cases and they reflect lots of hidden assumptions. Other specifications may be useful.
271300:03:42.128730 For very little portfolio changes, covariance matters more than variance.
271400:03:42.128731 p155 We often call idiosyncratic risks "diversifiable" because they largely disappear in welldiversified portfolios.
271500:03:42.128731 Risks correlated with the business or company stock will be systematic for this investor, albeit not necessarily for the market as a whole.
271600:03:42.128731 idiosyncratic risk does matter for asset pricing. Most of these circumstances involve some form of "market incompleteness," such as institutional restrictions on the portfolio decisions of certain special investors, the nonmarketability of financial claims
271700:03:42.128732 p157 Historically, the CCAPM came last, in order to repair those problems.
271800:03:42.128732 The CAPM is mathematically identical to a specification of the discount factor linear in the market return, rather than linear in consumption growth
271900:03:42.128732 p158 Efforts to find theoretically purer proxies for the market portfolio of world invested wealth (<cite>Roll1977</cite>) have not helped 脱离模型设定了
272000:03:42.128733 The CAPM discount factor model is a sensible approximation. a linear function of the market return is a completely sufficient indicator of good and bad times
272100:03:42.128733 The CAPM (and all following models) is not an alternative to the consumption-based model; it is a special case.
272200:03:42.128733 In addition, all investors in a CAPM world must hold the same portfolio of assets---the market portfolio
272300:03:42.128734 p159 Technically, this model generalizes the CAPM assumption that the market return is independent over time. 问题:CAPM 本来是单期模型啊,怎么会有此假设
272400:03:42.128734 p160 What are the additional sources of risk about which investors are economically concerned?
272500:03:42.128734 what fundamental macroeconomic risks are behind the value effect, not just understand a set of mimicking portfolios that capture them for empirical work.
272600:03:42.128735 问题:FF3 有什么用途?
272700:03:42.128735 p161 in which the discount factor is only a function of the market return and state variables) by presuming that investors have no jobs or other assets; they simply live off their portfolios of financial assets. 我觉得不是定价,是风险分解
272800:03:42.128735 The grandfather of all of these is the <cite>ChenRR1986</cite> multifactor model
272900:03:42.128736 <cite>PastorStambaugh2003</cite> are finally documenting the importance of liquidity.
273000:03:42.128736 p162 In principle, valuing a bond is easier than valuing other securities, because the payoff is fixed.
273100:03:42.128736 p164 selected for empirical fit (in sample) rather than even armchair theorizing about good and bad states.
273200:03:42.128737 To find the value of a McDonald's hamburger, absolute pricing starts thinking about how much it costs to feed a cow. Relative pricing looks at the price of a hamburger at Burger King.
273300:03:42.128737 p165 The relative pricing approach uses information from other asset prices in order to construct a discount factor useful for pricing a given asset.
273400:03:42.128737 "Arbitrage pricing" is the purest case of relative pricing, neatly cuts short the endless discussion over what are the true risk factors, market price of risk, and so on.
273500:03:42.128738 Arbitrage pricing should really be called "Law of One Price pricing," and probably would be if the latter were not so ugly a name. 错!
273600:03:42.128738 p166 every asset pricing model posits that there is some discount factor,
273700:03:42.128738 Arbitrage pricing, however, is not completely assumption-free. It assumes that there is some discount factor. 错!市场完全时,完全可以找出来,而不是假设出来
273800:03:42.128739 The Law of One Price is routinely violated in retail stores 这不是金融市场
273900:03:42.128739 even a textbook-perfect hedge is exposed to some risk arising from institutional frictions, transaction costs, illiquidity, and so forth. More often, there is no textbook-perfect hedge, due to nonmarketed risks such as changing volatility, shifting interest rates, asset specific liquidity premiums, nonmarketed fundamental securities, and so on.
274000:03:42.128740 p167 The weakest thing we can say in general (beyond existence) is that investors always like more over less
274100:03:42.128740 p168 (APT) is the first such mixture of a little absolute pricing into a fundamentally relative-pricing problem. 是吗 APT is also a second source of inspiration for the factors in multifactor models.
274200:03:42.128740 p171 the discount factor interpretation has been a matter of aesthetics
274300:03:42.128741 This is only the beginning. The beauty of a discount factor framework is that it is easy to add all these restrictions and more together.. Returning.
274400:03:42.128748 clipXtConvertSelectionProc: returning, internal status code VINF_SUCCESS
274500:03:42.129034 clipXtConvertSelectionProc:
274600:03:42.129041 clipReadVBoxClipboard: pCtx=00007fc1a4001bc0, u32Format=01, ppv=00007fc18c1678a8, pcb=00007fc18c1678a4
274700:03:42.129047 clipReadVBoxClipboard: returning VINF_SUCCESS
274800:03:42.129050 clipReadVBoxClipboard: *ppv=
274900:03:42.129071
275000:03:42.129071 Tapiero2010
275100:03:42.129072
275200:03:42.129072 2016-11-27 09:20 <cite>Tapiero2010</cite> Risk Finance and Asset Pricing Value Measurements and Markets.pdf p165
275300:03:42.129074
275400:03:42.129075 1 =E((1+R_{i})M₁)=E((1+R_{i})(a+bR_{m}))
275500:03:42.129076 =E(1+R_{i})E(a+bR_{m})+cov(1+R_{i},a+bR_{m})
275600:03:42.129077
275700:03:42.129077 Let R_{i}=R_{f}, by 1=E((1+R_{i})M₁)
275800:03:42.129078
275900:03:42.129078 E(a+bR_{m})=(1/(1+R_{f}))
276000:03:42.129079
276100:03:42.129079 and 1=E((1+R_{m})(a+bR_{m}))
276200:03:42.129080
276300:03:42.129080 1=(1/(1+R_{f}))+aE(R_{m})+bE(R_{m}²)=(1/(1+R_{f}))+aE(R_{m})+bvar(R_{m})+bE(R_{m})²
276400:03:42.129082
276500:03:42.129082 thus
276600:03:42.129082
276700:03:42.129083 var(R_{m})=((R_{f})/(1+R_{f}))-E(R_{m})(a+bE(R_{m}))=((R_{f})/(1+R_{f}))-((E(R_{m}))/(1+R_{f}))
276800:03:42.129084
276900:03:42.129085 讨论 CAPM-cn.tex中
277000:03:42.129085
277100:03:42.129086 R_{M}=(1/(b-aR₀))(1+c-bR₀-((1+h(R₀))/(R₀))R_{:})
277200:03:42.129087
277300:03:42.129087
277400:03:42.129087 R_{:}=((R₀)/(1+h(R₀)))(1+c-bR₀-(b-aR₀)R_{M})
277500:03:42.129088
277600:03:42.129089 是为R_{M}的线性
277700:03:42.129089
277800:03:42.129089 R_{:}=η+ζR_{M}
277900:03:42.129090
278000:03:42.129090
278100:03:42.129091 HensRieger2010
278200:03:42.129091
278300:03:42.129092 2016-12-01 14:36 <cite>HensRieger2010</cite> Financial Economics: A Concise Introduction to Classical and Behavioral Finance
278400:03:42.129094 往mm命题靠,整了个很庞大的经济系统,一般均衡分析方法,资产的供给总说不清
278500:03:42.129095 p267 "The great difference between the industry of today as compared to that of yesterday is what might be referred to as the necessity of the scientific approach, the elimination of operation by hunches." Alfred P. Sloan
278600:03:42.129098 p268 no arbitrage condition (NAC) positive cash-flow in at least one state, but non-negative cash-flow in every state.
278700:03:42.129100 p274 While in the traditional view, the shareholder value of a firm depends on its debt-equity ratio, Modigliani and Miller show that under well defined conditions the funding of a firm is irrelevant. Their proof is based on an intuitive arbitrage argument
278800:03:42.129104
278900:03:42.129105 Culp2004
279000:03:42.129105
279100:03:42.129105 2016-12-01 14:49 <cite>Culp2004</cite> Risk Transfer: Derivatives in Theory and Practice
279200:03:42.129107 p144 Off-market derivatives, by contrast, do involve an initial payment by one counterparty to the other of an amount equal to the price of the contract---its expected discounted payoff. Off-market derivatives include options, prepaid forwards, and certain traditional forwards and swaps that are deliberately negotiated "off" the current market price.
279300:03:42.129112 In general, "asset pricing" is all about solving for discounted expected payoff to get a price.
279400:03:42.129114 For at-market derivatives, however, the task of "pricing" is instead the task of solving for the fixed rate or price that equates the discounted expected payoff to zero.
279500:03:42.129117 In this context, the phrase "derivatives pricing" thus very misleadingly refers to the determination of the fixed purchase price f_{t,T} that equates the discounted expected payoff to zero.
279600:03:42.129120 p146 For at-market derivatives, "pricing" means finding the fixed rate or price specified in the contract on the trade date that equates the true initial price of the contract to zero. For off-market derivatives, "pricing" requires actually computing the expected discounted payoff of the contract as of the trade date for a given fixed rate or price.
279700:03:42.129125 p147 In absolute pricing often called equilibrium asset-pricing models
279800:03:42.129127 In relative pricing, by contrast, we ask what we can learn about one asset's value given the prices of some other assets.
279900:03:42.129129 Relative pricing offers simplicity and tractability
280000:03:42.129130 p148 Investors do not value money directly. the consumption that money can buy is what really matters
280100:03:42.129132 p149 用无套利得到如下式子更方便
280200:03:42.129132
280300:03:42.129133 p_{t}^{}=E_{t}(m_{t+1}z_{t+1})
280400:03:42.129133
280500:03:42.129134 and one that relates the stochastic discount factor m_{t+1} to the intertemporal marginal rate of substitution (IMRS), by analogy with simple present value rules.
280600:03:42.129136 p150 In finance, we commonly do not think too much about consumption and utility functions. The stochastic discount factor remains an index of bad times (strictly speaking, growth in bad times). Finance theorists tend to think directly about discount factor models in which data such as the market return are used as indicators of bad versus good times.
280700:03:42.129142 As usual, unification came after the fact.
280800:03:42.129143 In applications to stocks and portfolios, it is often convenient to think about rates of return rather than prices. 思考
280900:03:42.129145
281000:03:42.129145 ∙ E(R)改变时,通常当前价格也要改变
281100:03:42.129146 ∙ 感觉用期望收益率,还是资本成本的旧思想
281200:03:42.129146 ∙ 好处:比较平稳
281300:03:42.129147 ∙ 毛收益率全部位于价格为1的超平面上
281400:03:42.129148
281500:03:42.129148 1=E_{t}(m_{t+1}R_{t+1})
281600:03:42.129149
281700:03:42.129149 因此没有价值创造(投入为1,产出的现值为1) 区别于投入到生产中,有价值创造
281800:03:42.129150
281900:03:42.129150 p151 Similarly, if we want to work with returns in excess of the risk-free rate R_{t+1}^{e}=R_{t+1}-R_{f} then (7.4) becomes
282000:03:42.129152
282100:03:42.129153 0=E_{t}(m_{t+1}R_{t+1}^{e})
282200:03:42.129153
282300:03:42.129154 超额收益率可以是任意两资产间,可以是两个风险资产间。
282400:03:42.129155 The expected excess return of each asset should be proportional to its beta. 提醒,beta 可不是由自己决定哦
282500:03:42.129156 p152 Risk aversion is the same thing as overestimating the probability of bad events.
282600:03:42.129158 Systematic versus Idiosyncratic Risk A central and classic idea in asset pricing is that only systematic risk generates a premium. Idiosyncratic risks are "not priced," meaning that you earn no more than the interest rate for holding them. 注:我感觉只是收益率的分解,并不是什么溢价
282700:03:42.129162 p153 Insurance is a terrible investment. The average return is negative Yet people willingly buy insurance. Why? Because insurance pays off well in bad times---just as the house stops smoldering, here comes a check in the mail.
282800:03:42.129166 2016-12-01 19:53
282900:03:42.129166 The volatility of the asset's cash flow per se is completely irrelevant to its risk premium
283000:03:42.129168 The systematic part of any risk is that part that is perfectly correlated with the discount factor The idiosyncratic part of any risk is that part that is uncorrelated with the discount factor. It generates no premium
283100:03:42.129171 p154 The CAPM, for example, is one special case of the general theory. It specifies that the discount factor is linearly related to the market return m_{t+1}=a-br_{t+1}^{} (more on this later).
283200:03:42.129174 In many portfolio management applications, "systematic" and "diversifiable" components are defined with multiple regressions on style portfolios, including size, book to market value, and industry groupings as well as the market portfolio. Implicitly, these definitions correspond to models that the discount factor is a function of these portfolio groupings. These specifications are fine, but they are special cases and they reflect lots of hidden assumptions. Other specifications may be useful.
283300:03:42.129182 For very little portfolio changes, covariance matters more than variance.
283400:03:42.129183 p155 We often call idiosyncratic risks "diversifiable" because they largely disappear in welldiversified portfolios.
283500:03:42.129185 Risks correlated with the business or company stock will be systematic for this investor, albeit not necessarily for the market as a whole.
283600:03:42.129187 idiosyncratic risk does matter for asset pricing. Most of these circumstances involve some form of "market incompleteness," such as institutional restrictions on the portfolio decisions of certain special investors, the nonmarketability of financial claims
283700:03:42.129191 p157 Historically, the CCAPM came last, in order to repair those problems.
283800:03:42.129193 The CAPM is mathematically identical to a specification of the discount factor linear in the market return, rather than linear in consumption growth
283900:03:42.129195 p158 Efforts to find theoretically purer proxies for the market portfolio of world invested wealth (<cite>Roll1977</cite>) have not helped 脱离模型设定了
284000:03:42.129198 The CAPM discount factor model is a sensible approximation. a linear function of the market return is a completely sufficient indicator of good and bad times
284100:03:42.129200 The CAPM (and all following models) is not an alternative to the consumption-based model; it is a special case.
284200:03:42.129202 In addition, all investors in a CAPM world must hold the same portfolio of assets---the market portfolio
284300:03:42.129204 p159 Technically, this model generalizes the CAPM assumption that the market return is independent over time. 问题:CAPM 本来是单期模型啊,怎么会有此假设
284400:03:42.129206 p160 What are the additional sources of risk about which investors are economically concerned?
284500:03:42.129208 what fundamental macroeconomic risks are behind the value effect, not just understand a set of mimicking portfolios that capture them for empirical work.
284600:03:42.129211 问题:FF3 有什么用途?
284700:03:42.129211 p161 in which the discount factor is only a function of the market return and state variables) by presuming that investors have no jobs or other assets; they simply live off their portfolios of financial assets. 我觉得不是定价,是风险分解
284800:03:42.129215 The grandfather of all of these is the <cite>ChenRR1986</cite> multifactor model
284900:03:42.129216 <cite>PastorStambaugh2003</cite> are finally documenting the importance of liquidity.
285000:03:42.129218 p162 In principle, valuing a bond is easier than valuing other securities, because the payoff is fixed.
285100:03:42.129220 p164 selected for empirical fit (in sample) rather than even armchair theorizing about good and bad states.
285200:03:42.129222 To find the value of a McDonald's hamburger, absolute pricing starts thinking about how much it costs to feed a cow. Relative pricing looks at the price of a hamburger at Burger King.
285300:03:42.129224 p165 The relative pricing approach uses information from other asset prices in order to construct a discount factor useful for pricing a given asset.
285400:03:42.129227 "Arbitrage pricing" is the purest case of relative pricing, neatly cuts short the endless discussion over what are the true risk factors, market price of risk, and so on.
285500:03:42.129230 Arbitrage pricing should really be called "Law of One Price pricing," and probably would be if the latter were not so ugly a name. 错!
285600:03:42.129232 p166 every asset pricing model posits that there is some discount factor,
285700:03:42.129233 Arbitrage pricing, however, is not completely assumption-free. It assumes that there is some discount factor. 错!市场完全时,完全可以找出来,而不是假设出来
285800:03:42.129236 The Law of One Price is routinely violated in retail stores 这不是金融市场
285900:03:42.129237 even a textbook-perfect hedge is exposed to some risk arising from institutional frictions, transaction costs, illiquidity, and so forth. More often, there is no textbook-perfect hedge, due to nonmarketed risks such as changing volatility, shifting interest rates, asset specific liquidity premiums, nonmarketed fundamental securities, and so on.
286000:03:42.129242 p167 The weakest thing we can say in general (beyond existence) is that investors always like more over less
286100:03:42.129244 p168 (APT) is the first such mixture of a little absolute pricing into a fundamentally relative-pricing problem. 是吗 APT is also a second source of inspiration for the factors in multifactor models.
286200:03:42.129247 p171 the discount factor interpretation has been a matter of aesthetics
286300:03:42.129249 This is only the beginning. The beauty of a discount factor framework is that it is easy to add all these restrictions and more together., *pcb=20578
286400:03:42.129275 clipWinTxtToUtf8: pwszSrc=
286500:03:42.129296
286600:03:42.129296 Tapiero2010
286700:03:42.129297
286800:03:42.129297 2016-11-27 09:20 <cite>Tapiero2010</cite> Risk Finance and Asset Pricing Value Measurements and Markets.pdf p165
286900:03:42.129299
287000:03:42.129299 1 =E((1+R_{i})M₁)=E((1+R_{i})(a+bR_{m}))
287100:03:42.129300 =E(1+R_{i})E(a+bR_{m})+cov(1+R_{i},a+bR_{m})
287200:03:42.129301
287300:03:42.129302 Let R_{i}=R_{f}, by 1=E((1+R_{i})M₁)
287400:03:42.129302
287500:03:42.129303 E(a+bR_{m})=(1/(1+R_{f}))
287600:03:42.129303
287700:03:42.129304 and 1=E((1+R_{m})(a+bR_{m}))
287800:03:42.129304
287900:03:42.129305 1=(1/(1+R_{f}))+aE(R_{m})+bE(R_{m}²)=(1/(1+R_{f}))+aE(R_{m})+bvar(R_{m})+bE(R_{m})²
288000:03:42.129306
288100:03:42.129307 thus
288200:03:42.129307
288300:03:42.129307 var(R_{m})=((R_{f})/(1+R_{f}))-E(R_{m})(a+bE(R_{m}))=((R_{f})/(1+R_{f}))-((E(R_{m}))/(1+R_{f}))
288400:03:42.129309
288500:03:42.129309 讨论 CAPM-cn.tex中
288600:03:42.129310
288700:03:42.129310 R_{M}=(1/(b-aR₀))(1+c-bR₀-((1+h(R₀))/(R₀))R_{:})
288800:03:42.129311
288900:03:42.129312
289000:03:42.129312 R_{:}=((R₀)/(1+h(R₀)))(1+c-bR₀-(b-aR₀)R_{M})
289100:03:42.129313
289200:03:42.129313 是为R_{M}的线性
289300:03:42.129314
289400:03:42.129314 R_{:}=η+ζR_{M}
289500:03:42.129315
289600:03:42.129315
289700:03:42.129315 HensRieger2010
289800:03:42.129316
289900:03:42.129316 2016-12-01 14:36 <cite>HensRieger2010</cite> Financial Economics: A Concise Introduction to Classical and Behavioral Finance
290000:03:42.129318 往mm命题靠,整了个很庞大的经济系统,一般均衡分析方法,资产的供给总说不清
290100:03:42.129319 p267 "The great difference between the industry of today as compared to that of yesterday is what might be referred to as the necessity of the scientific approach, the elimination of operation by hunches." Alfred P. Sloan
290200:03:42.129323 p268 no arbitrage condition (NAC) positive cash-flow in at least one state, but non-negative cash-flow in every state.
290300:03:42.129325 p274 While in the traditional view, the shareholder value of a firm depends on its debt-equity ratio, Modigliani and Miller show that under well defined conditions the funding of a firm is irrelevant. Their proof is based on an intuitive arbitrage argument
290400:03:42.129329
290500:03:42.129329 Culp2004
290600:03:42.129329
290700:03:42.129330 2016-12-01 14:49 <cite>Culp2004</cite> Risk Transfer: Derivatives in Theory and Practice
290800:03:42.129331 p144 Off-market derivatives, by contrast, do involve an initial payment by one counterparty to the other of an amount equal to the price of the contract---its expected discounted payoff. Off-market derivatives include options, prepaid forwards, and certain traditional forwards and swaps that are deliberately negotiated "off" the current market price.
290900:03:42.129337 In general, "asset pricing" is all about solving for discounted expected payoff to get a price.
291000:03:42.129338 For at-market derivatives, however, the task of "pricing" is instead the task of solving for the fixed rate or price that equates the discounted expected payoff to zero.
291100:03:42.129341 In this context, the phrase "derivatives pricing" thus very misleadingly refers to the determination of the fixed purchase price f_{t,T} that equates the discounted expected payoff to zero.
291200:03:42.129344 p146 For at-market derivatives, "pricing" means finding the fixed rate or price specified in the contract on the trade date that equates the true initial price of the contract to zero. For off-market derivatives, "pricing" requires actually computing the expected discounted payoff of the contract as of the trade date for a given fixed rate or price.
291300:03:42.129349 p147 In absolute pricing often called equilibrium asset-pricing models
291400:03:42.129351 In relative pricing, by contrast, we ask what we can learn about one asset's value given the prices of some other assets.
291500:03:42.129353 Relative pricing offers simplicity and tractability
291600:03:42.129354 p148 Investors do not value money directly. the consumption that money can buy is what really matters
291700:03:42.129356 p149 用无套利得到如下式子更方便
291800:03:42.129357
291900:03:42.129357 p_{t}^{}=E_{t}(m_{t+1}z_{t+1})
292000:03:42.129358
292100:03:42.129358 and one that relates the stochastic discount factor m_{t+1} to the intertemporal marginal rate of substitution (IMRS), by analogy with simple present value rules.
292200:03:42.129361 p150 In finance, we commonly do not think too much about consumption and utility functions. The stochastic discount factor remains an index of bad times (strictly speaking, growth in bad times). Finance theorists tend to think directly about discount factor models in which data such as the market return are used as indicators of bad versus good times.
292300:03:42.129366 As usual, unification came after the fact.
292400:03:42.129367 In applications to stocks and portfolios, it is often convenient to think about rates of return rather than prices. 思考
292500:03:42.129369
292600:03:42.129369 ∙ E(R)改变时,通常当前价格也要改变
292700:03:42.129370 ∙ 感觉用期望收益率,还是资本成本的旧思想
292800:03:42.129371 ∙ 好处:比较平稳
292900:03:42.129371 ∙ 毛收益率全部位于价格为1的超平面上
293000:03:42.129372
293100:03:42.129372 1=E_{t}(m_{t+1}R_{t+1})
293200:03:42.129373
293300:03:42.129373 因此没有价值创造(投入为1,产出的现值为1) 区别于投入到生产中,有价值创造
293400:03:42.129374
293500:03:42.129375 p151 Similarly, if we want to work with returns in excess of the risk-free rate R_{t+1}^{e}=R_{t+1}-R_{f} then (7.4) becomes
293600:03:42.129377
293700:03:42.129377 0=E_{t}(m_{t+1}R_{t+1}^{e})
293800:03:42.129378
293900:03:42.129378 超额收益率可以是任意两资产间,可以是两个风险资产间。
294000:03:42.129379 The expected excess return of each asset should be proportional to its beta. 提醒,beta 可不是由自己决定哦
294100:03:42.129381 p152 Risk aversion is the same thing as overestimating the probability of bad events.
294200:03:42.129382 Systematic versus Idiosyncratic Risk A central and classic idea in asset pricing is that only systematic risk generates a premium. Idiosyncratic risks are "not priced," meaning that you earn no more than the interest rate for holding them. 注:我感觉只是收益率的分解,并不是什么溢价
294300:03:42.129386 p153 Insurance is a terrible investment. The average return is negative Yet people willingly buy insurance. Why? Because insurance pays off well in bad times---just as the house stops smoldering, here comes a check in the mail.
294400:03:42.129390 2016-12-01 19:53
294500:03:42.129390 The volatility of the asset's cash flow per se is completely irrelevant to its risk premium
294600:03:42.129392 The systematic part of any risk is that part that is perfectly correlated with the discount factor The idiosyncratic part of any risk is that part that is uncorrelated with the discount factor. It generates no premium
294700:03:42.129395 p154 The CAPM, for example, is one special case of the general theory. It specifies that the discount factor is linearly related to the market return m_{t+1}=a-br_{t+1}^{} (more on this later).
294800:03:42.129399 In many portfolio management applications, "systematic" and "diversifiable" components are defined with multiple regressions on style portfolios, including size, book to market value, and industry groupings as well as the market portfolio. Implicitly, these definitions correspond to models that the discount factor is a function of these portfolio groupings. These specifications are fine, but they are special cases and they reflect lots of hidden assumptions. Other specifications may be useful.
294900:03:42.129406 For very little portfolio changes, covariance matters more than variance.
295000:03:42.129407 p155 We often call idiosyncratic risks "diversifiable" because they largely disappear in welldiversified portfolios.
295100:03:42.129409 Risks correlated with the business or company stock will be systematic for this investor, albeit not necessarily for the market as a whole.
295200:03:42.129412 idiosyncratic risk does matter for asset pricing. Most of these circumstances involve some form of "market incompleteness," such as institutional restrictions on the portfolio decisions of certain special investors, the nonmarketability of financial claims
295300:03:42.129415 p157 Historically, the CCAPM came last, in order to repair those problems.
295400:03:42.129417 The CAPM is mathematically identical to a specification of the discount factor linear in the market return, rather than linear in consumption growth
295500:03:42.129419 p158 Efforts to find theoretically purer proxies for the market portfolio of world invested wealth (<cite>Roll1977</cite>) have not helped 脱离模型设定了
295600:03:42.129422 The CAPM discount factor model is a sensible approximation. a linear function of the market return is a completely sufficient indicator of good and bad times
295700:03:42.129424 The CAPM (and all following models) is not an alternative to the consumption-based model; it is a special case.
295800:03:42.129426 In addition, all investors in a CAPM world must hold the same portfolio of assets---the market portfolio
295900:03:42.129428 p159 Technically, this model generalizes the CAPM assumption that the market return is independent over time. 问题:CAPM 本来是单期模型啊,怎么会有此假设
296000:03:42.129430 p160 What are the additional sources of risk about which investors are economically concerned?
296100:03:42.129432 what fundamental macroeconomic risks are behind the value effect, not just understand a set of mimicking portfolios that capture them for empirical work.
296200:03:42.129435 问题:FF3 有什么用途?
296300:03:42.129435 p161 in which the discount factor is only a function of the market return and state variables) by presuming that investors have no jobs or other assets; they simply live off their portfolios of financial assets. 我觉得不是定价,是风险分解
296400:03:42.129439 The grandfather of all of these is the <cite>ChenRR1986</cite> multifactor model
296500:03:42.129440 <cite>PastorStambaugh2003</cite> are finally documenting the importance of liquidity.
296600:03:42.129442 p162 In principle, valuing a bond is easier than valuing other securities, because the payoff is fixed.
296700:03:42.129444 p164 selected for empirical fit (in sample) rather than even armchair theorizing about good and bad states.
296800:03:42.129446 To find the value of a McDonald's hamburger, absolute pricing starts thinking about how much it costs to feed a cow. Relative pricing looks at the price of a hamburger at Burger King.
296900:03:42.129449 p165 The relative pricing approach uses information from other asset prices in order to construct a discount factor useful for pricing a given asset.
297000:03:42.129451 "Arbitrage pricing" is the purest case of relative pricing, neatly cuts short the endless discussion over what are the true risk factors, market price of risk, and so on.
297100:03:42.129454 Arbitrage pricing should really be called "Law of One Price pricing," and probably would be if the latter were not so ugly a name. 错!
297200:03:42.129456 p166 every asset pricing model posits that there is some discount factor,
297300:03:42.129457 Arbitrage pricing, however, is not completely assumption-free. It assumes that there is some discount factor. 错!市场完全时,完全可以找出来,而不是假设出来
297400:03:42.129460 The Law of One Price is routinely violated in retail stores 这不是金融市场
297500:03:42.129461 even a textbook-perfect hedge is exposed to some risk arising from institutional frictions, transaction costs, illiquidity, and so forth. More often, there is no textbook-perfect hedge, due to nonmarketed risks such as changing volatility, shifting interest rates, asset specific liquidity premiums, nonmarketed fundamental securities, and so on.
297600:03:42.129466 p167 The weakest thing we can say in general (beyond existence) is that investors always like more over less
297700:03:42.129468 p168 (APT) is the first such mixture of a little absolute pricing into a fundamentally relative-pricing problem. 是吗 APT is also a second source of inspiration for the factors in multifactor models.
297800:03:42.129471 p171 the discount factor interpretation has been a matter of aesthetics
297900:03:42.129473 This is only the beginning. The beauty of a discount factor framework is that it is easy to add all these restrictions and more together., cbSrc=20578
298000:03:42.129536 clipWinTxtToUtf8: returning VINF_SUCCESS
298100:03:42.129538 clipWinTxtToUtf8: converted string is
298200:03:42.129547
298300:03:42.129547 Tapiero2010
298400:03:42.129547
298500:03:42.129548 2016-11-27 09:20 <cite>Tapiero2010</cite> Risk Finance and Asset Pricing Value Measurements and Markets.pdf p165
298600:03:42.129548
298700:03:42.129548 1 =E((1+R_{i})M₁)=E((1+R_{i})(a+bR_{m}))
298800:03:42.129549 =E(1+R_{i})E(a+bR_{m})+cov(1+R_{i},a+bR_{m})
298900:03:42.129549
299000:03:42.129549 Let R_{i}=R_{f}, by 1=E((1+R_{i})M₁)
299100:03:42.129550
299200:03:42.129550 E(a+bR_{m})=(1/(1+R_{f}))
299300:03:42.129550
299400:03:42.129551 and 1=E((1+R_{m})(a+bR_{m}))
299500:03:42.129551
299600:03:42.129551 1=(1/(1+R_{f}))+aE(R_{m})+bE(R_{m}²)=(1/(1+R_{f}))+aE(R_{m})+bvar(R_{m})+bE(R_{m})²
299700:03:42.129552
299800:03:42.129552 thus
299900:03:42.129552
300000:03:42.129553 var(R_{m})=((R_{f})/(1+R_{f}))-E(R_{m})(a+bE(R_{m}))=((R_{f})/(1+R_{f}))-((E(R_{m}))/(1+R_{f}))
300100:03:42.129553
300200:03:42.129553 讨论 CAPM-cn.tex中
300300:03:42.129554
300400:03:42.129554 R_{M}=(1/(b-aR₀))(1+c-bR₀-((1+h(R₀))/(R₀))R_{:})
300500:03:42.129554
300600:03:42.129554
300700:03:42.129555 R_{:}=((R₀)/(1+h(R₀)))(1+c-bR₀-(b-aR₀)R_{M})
300800:03:42.129555
300900:03:42.129555 是为R_{M}的线性
301000:03:42.129556
301100:03:42.129556 R_{:}=η+ζR_{M}
301200:03:42.129556
301300:03:42.129557
301400:03:42.129557 HensRieger2010
301500:03:42.129557
301600:03:42.129558 2016-12-01 14:36 <cite>HensRieger2010</cite> Financial Economics: A Concise Introduction to Classical and Behavioral Finance
301700:03:42.129558 往mm命题靠,整了个很庞大的经济系统,一般均衡分析方法,资产的供给总说不清
301800:03:42.129558 p267 "The great difference between the industry of today as compared to that of yesterday is what might be referred to as the necessity of the scientific approach, the elimination of operation by hunches." Alfred P. Sloan
301900:03:42.129559 p268 no arbitrage condition (NAC) positive cash-flow in at least one state, but non-negative cash-flow in every state.
302000:03:42.129559 p274 While in the traditional view, the shareholder value of a firm depends on its debt-equity ratio, Modigliani and Miller show that under well defined conditions the funding of a firm is irrelevant. Their proof is based on an intuitive arbitrage argument
302100:03:42.129559
302200:03:42.129560 Culp2004
302300:03:42.129560
302400:03:42.129560 2016-12-01 14:49 <cite>Culp2004</cite> Risk Transfer: Derivatives in Theory and Practice
302500:03:42.129561 p144 Off-market derivatives, by contrast, do involve an initial payment by one counterparty to the other of an amount equal to the price of the contract---its expected discounted payoff. Off-market derivatives include options, prepaid forwards, and certain traditional forwards and swaps that are deliberately negotiated "off" the current market price.
302600:03:42.129561 In general, "asset pricing" is all about solving for discounted expected payoff to get a price.
302700:03:42.129561 For at-market derivatives, however, the task of "pricing" is instead the task of solving for the fixed rate or price that equates the discounted expected payoff to zero.
302800:03:42.129562 In this context, the phrase "derivatives pricing" thus very misleadingly refers to the determination of the fixed purchase price f_{t,T} that equates the discounted expected payoff to zero.
302900:03:42.129562 p146 For at-market derivatives, "pricing" means finding the fixed rate or price specified in the contract on the trade date that equates the true initial price of the contract to zero. For off-market derivatives, "pricing" requires actually computing the expected discounted payoff of the contract as of the trade date for a given fixed rate or price.
303000:03:42.129562 p147 In absolute pricing often called equilibrium asset-pricing models
303100:03:42.129563 In relative pricing, by contrast, we ask what we can learn about one asset's value given the prices of some other assets.
303200:03:42.129563 Relative pricing offers simplicity and tractability
303300:03:42.129563 p148 Investors do not value money directly. the consumption that money can buy is what really matters
303400:03:42.129564 p149 用无套利得到如下式子更方便
303500:03:42.129564
303600:03:42.129564 p_{t}^{}=E_{t}(m_{t+1}z_{t+1})
303700:03:42.129565
303800:03:42.129565 and one that relates the stochastic discount factor m_{t+1} to the intertemporal marginal rate of substitution (IMRS), by analogy with simple present value rules.
303900:03:42.129565 p150 In finance, we commonly do not think too much about consumption and utility functions. The stochastic discount factor remains an index of bad times (strictly speaking, growth in bad times). Finance theorists tend to think directly about discount factor models in which data such as the market return are used as indicators of bad versus good times.
304000:03:42.129566 As usual, unification came after the fact.
304100:03:42.129566 In applications to stocks and portfolios, it is often convenient to think about rates of return rather than prices. 思考
304200:03:42.129566
304300:03:42.129567 ∙ E(R)改变时,通常当前价格也要改变
304400:03:42.129567 ∙ 感觉用期望收益率,还是资本成本的旧思想
304500:03:42.129567 ∙ 好处:比较平稳
304600:03:42.129568 ∙ 毛收益率全部位于价格为1的超平面上
304700:03:42.129568
304800:03:42.129568 1=E_{t}(m_{t+1}R_{t+1})
304900:03:42.129569
305000:03:42.129569 因此没有价值创造(投入为1,产出的现值为1) 区别于投入到生产中,有价值创造
305100:03:42.129569
305200:03:42.129570 p151 Similarly, if we want to work with returns in excess of the risk-free rate R_{t+1}^{e}=R_{t+1}-R_{f} then (7.4) becomes
305300:03:42.129570
305400:03:42.129570 0=E_{t}(m_{t+1}R_{t+1}^{e})
305500:03:42.129571
305600:03:42.129571 超额收益率可以是任意两资产间,可以是两个风险资产间。
305700:03:42.129571 The expected excess return of each asset should be proportional to its beta. 提醒,beta 可不是由自己决定哦
305800:03:42.129572 p152 Risk aversion is the same thing as overestimating the probability of bad events.
305900:03:42.129572 Systematic versus Idiosyncratic Risk A central and classic idea in asset pricing is that only systematic risk generates a premium. Idiosyncratic risks are "not priced," meaning that you earn no more than the interest rate for holding them. 注:我感觉只是收益率的分解,并不是什么溢价
306000:03:42.129572 p153 Insurance is a terrible investment. The average return is negative Yet people willingly buy insurance. Why? Because insurance pays off well in bad times---just as the house stops smoldering, here comes a check in the mail.
306100:03:42.129573 2016-12-01 19:53
306200:03:42.129573 The volatility of the asset's cash flow per se is completely irrelevant to its risk premium
306300:03:42.129573 The systematic part of any risk is that part that is perfectly correlated with the discount factor The idiosyncratic part of any risk is that part that is uncorrelated with the discount factor. It generates no premium
306400:03:42.129574 p154 The CAPM, for example, is one special case of the general theory. It specifies that the discount factor is linearly related to the market return m_{t+1}=a-br_{t+1}^{} (more on this later).
306500:03:42.129574 In many portfolio management applications, "systematic" and "diversifiable" components are defined with multiple regressions on style portfolios, including size, book to market value, and industry groupings as well as the market portfolio. Implicitly, these definitions correspond to models that the discount factor is a function of these portfolio groupings. These specifications are fine, but they are special cases and they reflect lots of hidden assumptions. Other specifications may be useful.
306600:03:42.129574 For very little portfolio changes, covariance matters more than variance.
306700:03:42.129575 p155 We often call idiosyncratic risks "diversifiable" because they largely disappear in welldiversified portfolios.
306800:03:42.129575 Risks correlated with the business or company stock will be systematic for this investor, albeit not necessarily for the market as a whole.
306900:03:42.129575 idiosyncratic risk does matter for asset pricing. Most of these circumstances involve some form of "market incompleteness," such as institutional restrictions on the portfolio decisions of certain special investors, the nonmarketability of financial claims
307000:03:42.129576 p157 Historically, the CCAPM came last, in order to repair those problems.
307100:03:42.129576 The CAPM is mathematically identical to a specification of the discount factor linear in the market return, rather than linear in consumption growth
307200:03:42.129576 p158 Efforts to find theoretically purer proxies for the market portfolio of world invested wealth (<cite>Roll1977</cite>) have not helped 脱离模型设定了
307300:03:42.129577 The CAPM discount factor model is a sensible approximation. a linear function of the market return is a completely sufficient indicator of good and bad times
307400:03:42.129577 The CAPM (and all following models) is not an alternative to the consumption-based model; it is a special case.
307500:03:42.129577 In addition, all investors in a CAPM world must hold the same portfolio of assets---the market portfolio
307600:03:42.129578 p159 Technically, this model generalizes the CAPM assumption that the market return is independent over time. 问题:CAPM 本来是单期模型啊,怎么会有此假设
307700:03:42.129578 p160 What are the additional sources of risk about which investors are economically concerned?
307800:03:42.129578 what fundamental macroeconomic risks are behind the value effect, not just understand a set of mimicking portfolios that capture them for empirical work.
307900:03:42.129579 问题:FF3 有什么用途?
308000:03:42.129579 p161 in which the discount factor is only a function of the market return and state variables) by presuming that investors have no jobs or other assets; they simply live off their portfolios of financial assets. 我觉得不是定价,是风险分解
308100:03:42.129579 The grandfather of all of these is the <cite>ChenRR1986</cite> multifactor model
308200:03:42.129580 <cite>PastorStambaugh2003</cite> are finally documenting the importance of liquidity.
308300:03:42.129580 p162 In principle, valuing a bond is easier than valuing other securities, because the payoff is fixed.
308400:03:42.129580 p164 selected for empirical fit (in sample) rather than even armchair theorizing about good and bad states.
308500:03:42.129581 To find the value of a McDonald's hamburger, absolute pricing starts thinking about how much it costs to feed a cow. Relative pricing looks at the price of a hamburger at Burger King.
308600:03:42.129581 p165 The relative pricing approach uses information from other asset prices in order to construct a discount factor useful for pricing a given asset.
308700:03:42.129581 "Arbitrage pricing" is the purest case of relative pricing, neatly cuts short the endless discussion over what are the true risk factors, market price of risk, and so on.
308800:03:42.129582 Arbitrage pricing should really be called "Law of One Price pricing," and probably would be if the latter were not so ugly a name. 错!
308900:03:42.129582 p166 every asset pricing model posits that there is some discount factor,
309000:03:42.129582 Arbitrage pricing, however, is not completely assumption-free. It assumes that there is some discount factor. 错!市场完全时,完全可以找出来,而不是假设出来
309100:03:42.129583 The Law of One Price is routinely violated in retail stores 这不是金融市场
309200:03:42.129583 even a textbook-perfect hedge is exposed to some risk arising from institutional frictions, transaction costs, illiquidity, and so forth. More often, there is no textbook-perfect hedge, due to nonmarketed risks such as changing volatility, shifting interest rates, asset specific liquidity premiums, nonmarketed fundamental securities, and so on.
309300:03:42.129583 p167 The weakest thing we can say in general (beyond existence) is that investors always like more over less
309400:03:42.129584 p168 (APT) is the first such mixture of a little absolute pricing into a fundamentally relative-pricing problem. 是吗 APT is also a second source of inspiration for the factors in multifactor models.
309500:03:42.129584 p171 the discount factor interpretation has been a matter of aesthetics
309600:03:42.129584 This is only the beginning. The beauty of a discount factor framework is that it is easy to add all these restrictions and more together.. Returning.
309700:03:42.129593 clipXtConvertSelectionProc: returning, internal status code VINF_SUCCESS
309800:03:42.129689 clipXtConvertSelectionProc:
309900:03:42.129695 clipXtConvertSelectionProc: returning, internal status code VERR_NOT_SUPPORTED
310000:03:42.129719 clipXtConvertSelectionProc:
310100:03:42.129723 clipXtConvertSelectionProc: returning, internal status code VERR_NOT_SUPPORTED
310200:03:42.129745 clipXtConvertSelectionProc:
310300:03:42.129747 clipCreateX11Targets: called
310400:03:42.129750 clipXtConvertSelectionProc: returning, internal status code VINF_SUCCESS
310500:03:42.129793 clipXtConvertSelectionProc:
310600:03:42.129796 clipCreateX11Targets: called
310700:03:42.129798 clipXtConvertSelectionProc: returning, internal status code VINF_SUCCESS
310800:03:42.129883 clipXtConvertSelectionProc:
310900:03:42.129887 clipCreateX11Targets: called
311000:03:42.129890 clipXtConvertSelectionProc: returning, internal status code VINF_SUCCESS
311100:03:42.129983 clipXtConvertSelectionProc:
311200:03:42.129987 clipCreateX11Targets: called
311300:03:42.129990 clipXtConvertSelectionProc: returning, internal status code VINF_SUCCESS
311400:03:42.130054 clipXtConvertSelectionProc:
311500:03:42.130058 clipCreateX11Targets: called
311600:03:42.130061 clipXtConvertSelectionProc: returning, internal status code VINF_SUCCESS
311700:03:42.130196 clipXtConvertSelectionProc:
311800:03:42.130201 clipCreateX11Targets: called
311900:03:42.130203 clipXtConvertSelectionProc: returning, internal status code VINF_SUCCESS
312000:03:42.130240 clipXtConvertSelectionProc:
312100:03:42.130244 clipCreateX11Targets: called
312200:03:42.130250 clipXtConvertSelectionProc: returning, internal status code VINF_SUCCESS
312300:03:42.130329 clipXtConvertSelectionProc:
312400:03:42.130334 clipCreateX11Targets: called
312500:03:42.130336 clipXtConvertSelectionProc: returning, internal status code VINF_SUCCESS
312600:03:45.059358 clipXtConvertSelectionProc:
312700:03:45.059382 clipCreateX11Targets: called
312800:03:45.059387 clipXtConvertSelectionProc: returning, internal status code VINF_SUCCESS
312900:03:47.238695 clipXtConvertSelectionProc:
313000:03:47.238695 clipCreateX11Targets: called
313100:03:47.238695 clipXtConvertSelectionProc: returning, internal status code VINF_SUCCESS
313200:03:50.225712 clipXtConvertSelectionProc:
313300:03:50.225763 clipCreateX11Targets: called
313400:03:50.225776 clipXtConvertSelectionProc: returning, internal status code VINF_SUCCESS
313500:03:52.394082 clipXtConvertSelectionProc:
313600:03:52.394121 clipCreateX11Targets: called
313700:03:52.394136 clipXtConvertSelectionProc: returning, internal status code VINF_SUCCESS
313800:03:54.551770 clipXtConvertSelectionProc:
313900:03:54.551794 clipCreateX11Targets: called
314000:03:54.551800 clipXtConvertSelectionProc: returning, internal status code VINF_SUCCESS
314100:03:56.732934 clipXtConvertSelectionProc:
314200:03:56.732962 clipCreateX11Targets: called
314300:03:56.732968 clipXtConvertSelectionProc: returning, internal status code VINF_SUCCESS
314400:03:58.915137 clipXtConvertSelectionProc:
314500:03:58.915190 clipCreateX11Targets: called
314600:03:58.915203 clipXtConvertSelectionProc: returning, internal status code VINF_SUCCESS
314700:04:01.044147 clipXtConvertSelectionProc:
314800:04:01.044179 clipCreateX11Targets: called
314900:04:01.044183 clipXtConvertSelectionProc: returning, internal status code VINF_SUCCESS
315000:04:03.203287 clipXtConvertSelectionProc:
315100:04:03.203311 clipCreateX11Targets: called
315200:04:03.203316 clipXtConvertSelectionProc: returning, internal status code VINF_SUCCESS
315300:04:05.388183 clipXtConvertSelectionProc:
315400:04:05.388222 clipCreateX11Targets: called
315500:04:05.388231 clipXtConvertSelectionProc: returning, internal status code VINF_SUCCESS
315600:04:07.572217 clipXtConvertSelectionProc:
315700:04:07.572267 clipCreateX11Targets: called
315800:04:07.572280 clipXtConvertSelectionProc: returning, internal status code VINF_SUCCESS
315900:04:09.736190 clipXtConvertSelectionProc:
316000:04:09.736232 clipCreateX11Targets: called
316100:04:09.736242 clipXtConvertSelectionProc: returning, internal status code VINF_SUCCESS
316200:04:11.919578 clipXtConvertSelectionProc:
316300:04:11.919638 clipCreateX11Targets: called
316400:04:11.919652 clipXtConvertSelectionProc: returning, internal status code VINF_SUCCESS
316500:04:14.095613 clipXtConvertSelectionProc:
316600:04:14.095643 clipCreateX11Targets: called
316700:04:14.095650 clipXtConvertSelectionProc: returning, internal status code VINF_SUCCESS
316800:04:16.277364 clipXtConvertSelectionProc:
316900:04:16.277401 clipCreateX11Targets: called
317000:04:16.277410 clipXtConvertSelectionProc: returning, internal status code VINF_SUCCESS
317100:04:18.459688 clipXtConvertSelectionProc:
317200:04:18.459726 clipCreateX11Targets: called
317300:04:18.459735 clipXtConvertSelectionProc: returning, internal status code VINF_SUCCESS
317400:04:20.628767 clipXtConvertSelectionProc:
317500:04:20.628787 clipCreateX11Targets: called
317600:04:20.628791 clipXtConvertSelectionProc: returning, internal status code VINF_SUCCESS
317700:04:22.806367 clipXtConvertSelectionProc:
317800:04:22.806402 clipCreateX11Targets: called
317900:04:22.806411 clipXtConvertSelectionProc: returning, internal status code VINF_SUCCESS
318000:04:24.991894 clipXtConvertSelectionProc:
318100:04:24.991951 clipCreateX11Targets: called
318200:04:24.991965 clipXtConvertSelectionProc: returning, internal status code VINF_SUCCESS
318300:04:27.123393 clipXtConvertSelectionProc:
318400:04:27.123411 clipCreateX11Targets: called
318500:04:27.123415 clipXtConvertSelectionProc: returning, internal status code VINF_SUCCESS
318600:04:29.291329 clipXtConvertSelectionProc:
318700:04:29.291351 clipCreateX11Targets: called
318800:04:29.291356 clipXtConvertSelectionProc: returning, internal status code VINF_SUCCESS
318900:04:31.458022 clipXtConvertSelectionProc:
319000:04:31.458047 clipCreateX11Targets: called
319100:04:31.458061 clipXtConvertSelectionProc: returning, internal status code VINF_SUCCESS
319200:04:33.641149 clipXtConvertSelectionProc:
319300:04:33.641176 clipCreateX11Targets: called
319400:04:33.641183 clipXtConvertSelectionProc: returning, internal status code VINF_SUCCESS
319500:04:34.275035 clipXtConvertSelectionProc:
319600:04:34.275053 clipCreateX11Targets: called
319700:04:34.275057 clipXtConvertSelectionProc: returning, internal status code VINF_SUCCESS
319800:04:34.275736 clipXtConvertSelectionProc:
319900:04:34.275752 clipCreateX11Targets: called
320000:04:34.275760 clipXtConvertSelectionProc: returning, internal status code VINF_SUCCESS
320100:04:36.594732 clipXtConvertSelectionProc:
320200:04:36.594732 clipCreateX11Targets: called
320300:04:36.594732 clipXtConvertSelectionProc: returning, internal status code VINF_SUCCESS
320400:04:38.749894 clipXtConvertSelectionProc:
320500:04:38.749920 clipCreateX11Targets: called
320600:04:38.749926 clipXtConvertSelectionProc: returning, internal status code VINF_SUCCESS
320700:04:40.934072 clipXtConvertSelectionProc:
320800:04:40.934120 clipCreateX11Targets: called
320900:04:40.934131 clipXtConvertSelectionProc: returning, internal status code VINF_SUCCESS
321000:04:43.118163 clipXtConvertSelectionProc:
321100:04:43.118211 clipCreateX11Targets: called
321200:04:43.118223 clipXtConvertSelectionProc: returning, internal status code VINF_SUCCESS
321300:04:45.291821 clipXtConvertSelectionProc:
321400:04:45.292041 clipCreateX11Targets: called
321500:04:45.292117 clipXtConvertSelectionProc: returning, internal status code VINF_SUCCESS
321600:04:47.275222 svcCall: u32ClientID = 16, fn = 2, cParms = 1, pparms = -1403801416
321700:04:47.275273 svcCall: VBOX_SHARED_CLIPBOARD_FN_FORMATS
321800:04:47.275282 vboxClipboardFormatAnnounce: called. pClient=00007fc1b0005930, u32Formats=01
321900:04:47.275294 clipQueueToEventThread: proc=00007fc1c1947190, client_data=00007fc1a4013a20
322000:04:47.275316 svcCall: rc = VINF_SUCCESS
322100:04:47.275352 clipNewVBoxFormatsWorker: u32Formats=1
322200:04:47.275370 clipNewVBoxFormatsWorker: returning
322300:04:47.275406 clipDrainWakeupPipe: called
322400:04:47.276413 clipXtConvertSelectionProc:
322500:04:47.276438 clipReadVBoxClipboard: pCtx=00007fc1a4001bc0, u32Format=01, ppv=00007fc18c1678a8, pcb=00007fc18c1678a4
322600:04:47.276450 ClipRequestDataForX11: pCtx=00007fc1a4001af0, u32Format=01, ppv=00007fc1a4001c00, pcb=00007fc1a4001c08
322700:04:47.276463 clipRequestDataFromVBox: pCtx=00007fc1a4001af0, pReq=00007fc18c1677d0, u32Format=01
322800:04:47.276472 clipWaitForDataFromVBox: pCtx=00007fc1a4001af0, pReq=00007fc18c1677d0, u32Format=01
322900:04:47.276480 vboxSvcClipboardReportMsg: ReadData 01
323000:04:47.276487 vboxSvcClipboardReturnMsg: ReadData 01
323100:04:47.276493 vboxSvcClipboardReportMsg: CallComplete
323200:04:47.276980 svcCall: u32ClientID = 16, fn = 4, cParms = 2, pparms = -1404178152
323300:04:47.277026 svcCall: VBOX_SHARED_CLIPBOARD_FN_WRITE_DATA
323400:04:47.277034 vboxClipboardWriteData: called. pClient=00007fc1b0005930, pv=00007fc1ac4df148 (principle), cb=20, u32Format=01
323500:04:47.277057 svcCall: rc = VINF_SUCCESS
323600:04:47.277088 svcCall: u32ClientID = 16, fn = 1, cParms = 2, pparms = -1404177480
323700:04:47.277102 svcCall: VBOX_SHARED_CLIPBOARD_FN_GET_HOST_MSG
323800:04:47.277108 vboxSvcClipboardReturnMsg: no message
323900:04:47.277139 svcCall: async.
324000:04:47.277150 svcCall: rc = VINF_SUCCESS
324100:04:47.277172 clipWaitForDataFromVBox: returning VINF_SUCCESS
324200:04:47.277206 clipRequestDataFromVBox: returning VINF_SUCCESS
324300:04:47.277217 ClipRequestDataForX11: returning VINF_SUCCESS
324400:04:47.277223 ClipRequestDataForX11: *ppv=principle, *pcb=20
324500:04:47.277234 clipReadVBoxClipboard: returning VINF_SUCCESS
324600:04:47.277241 clipReadVBoxClipboard: *ppv=principle, *pcb=20
324700:04:47.277250 clipWinTxtToUtf8: pwszSrc=principle, cbSrc=20
324800:04:47.277260 clipWinTxtToUtf8: returning VINF_SUCCESS
324900:04:47.277266 clipWinTxtToUtf8: converted string is principle. Returning.
325000:04:47.277274 clipXtConvertSelectionProc: returning, internal status code VINF_SUCCESS
325100:04:47.279153 clipXtConvertSelectionProc:
325200:04:47.279183 clipReadVBoxClipboard: pCtx=00007fc1a4001bc0, u32Format=01, ppv=00007fc18c1678a8, pcb=00007fc18c1678a4
325300:04:47.279215 clipReadVBoxClipboard: returning VINF_SUCCESS
325400:04:47.279225 clipReadVBoxClipboard: *ppv=principle, *pcb=20
325500:04:47.279235 clipWinTxtToUtf8: pwszSrc=principle, cbSrc=20
325600:04:47.279244 clipWinTxtToUtf8: returning VINF_SUCCESS
325700:04:47.279251 clipWinTxtToUtf8: converted string is principle. Returning.
325800:04:47.279258 clipXtConvertSelectionProc: returning, internal status code VINF_SUCCESS
325900:04:47.279397 clipXtConvertSelectionProc:
326000:04:47.279423 clipCreateX11Targets: called
326100:04:47.279434 clipXtConvertSelectionProc: returning, internal status code VINF_SUCCESS
326200:04:47.280311 clipXtConvertSelectionProc:
326300:04:47.280342 clipCreateX11Targets: called
326400:04:47.280353 clipXtConvertSelectionProc: returning, internal status code VINF_SUCCESS
326500:04:47.281446 clipXtConvertSelectionProc:
326600:04:47.281472 clipCreateX11Targets: called
326700:04:47.281483 clipXtConvertSelectionProc: returning, internal status code VINF_SUCCESS
326800:04:47.281999 clipXtConvertSelectionProc:
326900:04:47.282030 clipCreateX11Targets: called
327000:04:47.282041 clipXtConvertSelectionProc: returning, internal status code VINF_SUCCESS
327100:04:47.282256 clipXtConvertSelectionProc:
327200:04:47.282268 clipCreateX11Targets: called
327300:04:47.282276 clipXtConvertSelectionProc: returning, internal status code VINF_SUCCESS
327400:04:47.282396 clipXtConvertSelectionProc:
327500:04:47.282407 clipCreateX11Targets: called
327600:04:47.282415 clipXtConvertSelectionProc: returning, internal status code VINF_SUCCESS
327700:04:47.282634 clipXtConvertSelectionProc:
327800:04:47.282679 clipCreateX11Targets: called
327900:04:47.282691 clipXtConvertSelectionProc: returning, internal status code VINF_SUCCESS
328000:04:47.282861 clipXtConvertSelectionProc:
328100:04:47.282875 clipCreateX11Targets: called
328200:04:47.282883 clipXtConvertSelectionProc: returning, internal status code VINF_SUCCESS
328300:04:50.260997 clipXtConvertSelectionProc:
328400:04:50.261044 clipCreateX11Targets: called
328500:04:50.261057 clipXtConvertSelectionProc: returning, internal status code VINF_SUCCESS
328600:04:50.504339 clipXtConvertSelectionProc:
328700:04:50.504359 clipCreateX11Targets: called
328800:04:50.504363 clipXtConvertSelectionProc: returning, internal status code VINF_SUCCESS
328900:04:50.504802 clipXtConvertSelectionProc:
329000:04:50.504813 clipCreateX11Targets: called
329100:04:50.504817 clipXtConvertSelectionProc: returning, internal status code VINF_SUCCESS
329200:04:53.242566 clipXtConvertSelectionProc:
329300:04:53.242598 clipCreateX11Targets: called
329400:04:53.242607 clipXtConvertSelectionProc: returning, internal status code VINF_SUCCESS
329500:04:54.363949 clipXtConvertSelectionProc:
329600:04:54.363997 clipXtConvertSelectionProc: returning, internal status code VERR_NOT_SUPPORTED
329700:04:54.364863 clipXtConvertSelectionProc:
329800:04:54.364904 clipCreateX11Targets: called
329900:04:54.364916 clipXtConvertSelectionProc: returning, internal status code VINF_SUCCESS
330000:04:54.366067 clipXtConvertSelectionProc:
330100:04:54.366100 clipReadVBoxClipboard: pCtx=00007fc1a4001bc0, u32Format=01, ppv=00007fc18c1678a8, pcb=00007fc18c1678a4
330200:04:54.366115 clipReadVBoxClipboard: returning VINF_SUCCESS
330300:04:54.366123 clipReadVBoxClipboard: *ppv=principle, *pcb=20
330400:04:54.366134 clipWinTxtToUtf8: pwszSrc=principle, cbSrc=20
330500:04:54.366144 clipWinTxtToUtf8: returning VINF_SUCCESS
330600:04:54.366151 clipWinTxtToUtf8: converted string is principle. Returning.
330700:04:54.366159 clipXtConvertSelectionProc: returning, internal status code VINF_SUCCESS
330800:04:57.305566 clipXtConvertSelectionProc:
330900:04:57.305594 clipCreateX11Targets: called
331000:04:57.305600 clipXtConvertSelectionProc: returning, internal status code VINF_SUCCESS
331100:04:57.499995 void clipQueryX11CBFormats(CLIPBACKEND*): requesting the targets that the X11 clipboard offers
331200:04:57.501639 clipConvertX11Targets: pValue=00007fc1dc0058e0, *pcLen=12, *atomType=4
331300:04:57.501710 clipUpdateX11Targets: called
331400:04:57.501721 clipReportFormatsToVBox: clipReportFormatsToVBox format: 1
331500:04:57.501729 clipReportFormatsToVBox: clipReportFormatsToVBox txt: 1, bitm: 0, html:0, u32VBoxFormats: 1
331600:04:57.501754 ClipReportX11Formats: called. pCtx=00007fc1a4001af0, u32Formats=01
331700:04:57.501764 vboxSvcClipboardReportMsg: Formats 01
331800:04:57.501771 vboxSvcClipboardReturnMsg: Formats 01
331900:04:57.501777 vboxSvcClipboardReportMsg: CallComplete
332000:04:57.502581 svcCall: u32ClientID = 16, fn = 1, cParms = 2, pparms = -1404177480
332100:04:57.502626 svcCall: VBOX_SHARED_CLIPBOARD_FN_GET_HOST_MSG
332200:04:57.502634 vboxSvcClipboardReturnMsg: no message
332300:04:57.502641 svcCall: async.
332400:04:57.502647 svcCall: rc = VINF_SUCCESS
332500:06:37.775560 svcCall: u32ClientID = 16, fn = 2, cParms = 1, pparms = -1404179704
332600:06:37.775641 svcCall: VBOX_SHARED_CLIPBOARD_FN_FORMATS
332700:06:37.775653 vboxClipboardFormatAnnounce: called. pClient=00007fc1b0005930, u32Formats=00
332800:06:37.775669 clipQueueToEventThread: proc=00007fc1c1947190, client_data=00007fc1a4013930
332900:06:37.775700 svcCall: rc = VINF_SUCCESS
333000:06:37.775726 clipNewVBoxFormatsWorker: u32Formats=0
333100:06:37.777070 clipNewVBoxFormatsWorker: returning
333200:06:37.777111 clipDrainWakeupPipe: called
333300:06:37.777143 clipXtConvertSelectionProc:
333400:06:37.777153 clipXtConvertSelectionProc: returning, internal status code VERR_NOT_SUPPORTED
333500:06:37.777401 clipXtConvertSelectionProc:
333600:06:37.777416 clipCreateX11Targets: called
333700:06:37.777424 clipXtConvertSelectionProc: returning, internal status code VINF_SUCCESS
333800:06:37.777781 clipXtConvertSelectionProc:
333900:06:37.777799 clipXtConvertSelectionProc: returning, internal status code VERR_NOT_SUPPORTED
334000:06:37.777955 clipXtConvertSelectionProc:
334100:06:37.777969 clipCreateX11Targets: called
334200:06:37.777977 clipXtConvertSelectionProc: returning, internal status code VINF_SUCCESS
334300:06:37.778084 clipXtConvertSelectionProc:
334400:06:37.778095 clipXtConvertSelectionProc: returning, internal status code VERR_NOT_SUPPORTED
334500:06:37.778465 clipXtConvertSelectionProc:
334600:06:37.778491 clipXtConvertSelectionProc: returning, internal status code VERR_NOT_SUPPORTED
334700:06:37.778856 clipXtConvertSelectionProc:
334800:06:37.778885 clipXtConvertSelectionProc: returning, internal status code VERR_NOT_SUPPORTED
334900:06:37.779097 clipXtConvertSelectionProc:
335000:06:37.779116 clipXtConvertSelectionProc: returning, internal status code VERR_NOT_SUPPORTED
335100:06:37.782091 clipXtConvertSelectionProc:
335200:06:37.782126 clipCreateX11Targets: called
335300:06:37.782136 clipXtConvertSelectionProc: returning, internal status code VINF_SUCCESS
335400:06:37.785409 clipXtConvertSelectionProc:
335500:06:37.785443 clipXtConvertSelectionProc: returning, internal status code VERR_NOT_SUPPORTED
335600:06:37.785620 clipXtConvertSelectionProc:
335700:06:37.785638 clipXtConvertSelectionProc: returning, internal status code VERR_NOT_SUPPORTED
335800:06:37.787409 clipXtConvertSelectionProc:
335900:06:37.787446 clipXtConvertSelectionProc: returning, internal status code VERR_NOT_SUPPORTED
336000:06:37.788139 clipXtConvertSelectionProc:
336100:06:37.788161 clipXtConvertSelectionProc: returning, internal status code VERR_NOT_SUPPORTED
336200:06:37.788358 clipXtConvertSelectionProc:
336300:06:37.788375 clipXtConvertSelectionProc: returning, internal status code VERR_NOT_SUPPORTED
336400:06:37.788506 clipXtConvertSelectionProc:
336500:06:37.788537 clipXtConvertSelectionProc: returning, internal status code VERR_NOT_SUPPORTED
336600:06:37.788817 clipXtConvertSelectionProc:
336700:06:37.788831 clipCreateX11Targets: called
336800:06:37.788840 clipXtConvertSelectionProc: returning, internal status code VINF_SUCCESS
336900:06:37.789105 clipXtConvertSelectionProc:
337000:06:37.789122 clipXtConvertSelectionProc: returning, internal status code VERR_NOT_SUPPORTED
337100:06:37.789245 clipXtConvertSelectionProc:
337200:06:37.789259 clipXtConvertSelectionProc: returning, internal status code VERR_NOT_SUPPORTED
337300:06:37.789703 clipXtConvertSelectionProc:
337400:06:37.789716 clipCreateX11Targets: called
337500:06:37.789724 clipXtConvertSelectionProc: returning, internal status code VINF_SUCCESS
337600:06:37.789918 clipXtConvertSelectionProc:
337700:06:37.789931 clipCreateX11Targets: called
337800:06:37.789939 clipXtConvertSelectionProc: returning, internal status code VINF_SUCCESS
337900:06:37.790100 clipXtConvertSelectionProc:
338000:06:37.790132 clipCreateX11Targets: called
338100:06:37.790140 clipXtConvertSelectionProc: returning, internal status code VINF_SUCCESS
338200:06:37.790278 clipXtConvertSelectionProc:
338300:06:37.790289 clipCreateX11Targets: called
338400:06:37.790295 clipXtConvertSelectionProc: returning, internal status code VINF_SUCCESS
338500:06:37.791442 clipXtConvertSelectionProc:
338600:06:37.791472 clipXtConvertSelectionProc: returning, internal status code VERR_NOT_SUPPORTED
338700:06:37.791655 clipXtConvertSelectionProc:
338800:06:37.791670 clipXtConvertSelectionProc: returning, internal status code VERR_NOT_SUPPORTED
338900:06:37.792332 clipXtConvertSelectionProc:
339000:06:37.792350 clipCreateX11Targets: called
339100:06:37.792357 clipXtConvertSelectionProc: returning, internal status code VINF_SUCCESS
339200:06:37.792546 clipXtConvertSelectionProc:
339300:06:37.792559 clipCreateX11Targets: called
339400:06:37.792566 clipXtConvertSelectionProc: returning, internal status code VINF_SUCCESS
339500:06:37.792758 clipXtConvertSelectionProc:
339600:06:37.792773 clipCreateX11Targets: called
339700:06:37.792780 clipXtConvertSelectionProc: returning, internal status code VINF_SUCCESS
339800:06:37.793778 clipXtConvertSelectionProc:
339900:06:37.793798 clipCreateX11Targets: called
340000:06:37.793805 clipXtConvertSelectionProc: returning, internal status code VINF_SUCCESS
340100:06:37.794188 clipXtConvertSelectionProc:
340200:06:37.794206 clipXtConvertSelectionProc: returning, internal status code VERR_NOT_SUPPORTED
340300:06:37.794366 clipXtConvertSelectionProc:
340400:06:37.794380 clipXtConvertSelectionProc: returning, internal status code VERR_NOT_SUPPORTED
340500:06:37.794500 clipXtConvertSelectionProc:
340600:06:37.794509 clipCreateX11Targets: called
340700:06:37.794516 clipXtConvertSelectionProc: returning, internal status code VINF_SUCCESS
340800:06:37.794704 clipXtConvertSelectionProc:
340900:06:37.794718 clipCreateX11Targets: called
341000:06:37.794725 clipXtConvertSelectionProc: returning, internal status code VINF_SUCCESS
341100:06:37.795000 clipXtConvertSelectionProc:
341200:06:37.795017 clipXtConvertSelectionProc: returning, internal status code VERR_NOT_SUPPORTED
341300:06:37.795394 clipXtConvertSelectionProc:
341400:06:37.795414 clipXtConvertSelectionProc: returning, internal status code VERR_NOT_SUPPORTED
341500:06:37.795902 clipXtConvertSelectionProc:
341600:06:37.795920 clipCreateX11Targets: called
341700:06:37.795927 clipXtConvertSelectionProc: returning, internal status code VINF_SUCCESS
341800:06:37.796151 clipXtConvertSelectionProc:
341900:06:37.796184 clipCreateX11Targets: called
342000:06:37.796194 clipXtConvertSelectionProc: returning, internal status code VINF_SUCCESS
342100:06:37.796299 clipXtConvertSelectionProc:
342200:06:37.796311 clipXtConvertSelectionProc: returning, internal status code VERR_NOT_SUPPORTED
342300:06:37.796767 clipXtConvertSelectionProc:
342400:06:37.796785 clipXtConvertSelectionProc: returning, internal status code VERR_NOT_SUPPORTED
342500:06:37.796897 clipXtConvertSelectionProc:
342600:06:37.796907 clipXtConvertSelectionProc: returning, internal status code VERR_NOT_SUPPORTED
342700:06:37.796975 clipXtConvertSelectionProc:
342800:06:37.796985 clipXtConvertSelectionProc: returning, internal status code VERR_NOT_SUPPORTED
342900:06:37.797054 clipXtConvertSelectionProc:
343000:06:37.797064 clipXtConvertSelectionProc: returning, internal status code VERR_NOT_SUPPORTED
343100:06:37.797134 clipXtConvertSelectionProc:
343200:06:37.797143 clipXtConvertSelectionProc: returning, internal status code VERR_NOT_SUPPORTED
343300:06:37.797212 clipXtConvertSelectionProc:
343400:06:37.797221 clipXtConvertSelectionProc: returning, internal status code VERR_NOT_SUPPORTED
343500:06:37.797348 clipXtConvertSelectionProc:
343600:06:37.797361 clipXtConvertSelectionProc: returning, internal status code VERR_NOT_SUPPORTED
343700:06:37.807120 svcCall: u32ClientID = 16, fn = 2, cParms = 1, pparms = -1404177080
343800:06:37.807149 svcCall: VBOX_SHARED_CLIPBOARD_FN_FORMATS
343900:06:37.807155 vboxClipboardFormatAnnounce: called. pClient=00007fc1b0005930, u32Formats=01
344000:06:37.807163 clipQueueToEventThread: proc=00007fc1c1947190, client_data=00007fc1a4013910
344100:06:37.807180 svcCall: rc = VINF_SUCCESS
344200:06:37.807218 clipNewVBoxFormatsWorker: u32Formats=1
344300:06:37.807244 clipNewVBoxFormatsWorker: returning
344400:06:37.807270 clipDrainWakeupPipe: called
344500:06:37.807746 svcCall: u32ClientID = 16, fn = 2, cParms = 1, pparms = -1404177080
344600:06:37.807764 svcCall: VBOX_SHARED_CLIPBOARD_FN_FORMATS
344700:06:37.807770 vboxClipboardFormatAnnounce: called. pClient=00007fc1b0005930, u32Formats=01
344800:06:37.807778 clipQueueToEventThread: proc=00007fc1c1947190, client_data=00007fc1a4013910
344900:06:37.807789 svcCall: rc = VINF_SUCCESS
345000:06:37.807831 clipNewVBoxFormatsWorker: u32Formats=1
345100:06:37.807856 clipNewVBoxFormatsWorker: returning
345200:06:37.807877 clipDrainWakeupPipe: called
345300:06:37.808882 clipXtConvertSelectionProc:
345400:06:37.808903 clipReadVBoxClipboard: pCtx=00007fc1a4001bc0, u32Format=01, ppv=00007fc18c1678a8, pcb=00007fc18c1678a4
345500:06:37.808913 ClipRequestDataForX11: pCtx=00007fc1a4001af0, u32Format=01, ppv=00007fc1a4001c00, pcb=00007fc1a4001c08
345600:06:37.808921 clipRequestDataFromVBox: pCtx=00007fc1a4001af0, pReq=00007fc18c1677d0, u32Format=01
345700:06:37.808927 clipWaitForDataFromVBox: pCtx=00007fc1a4001af0, pReq=00007fc18c1677d0, u32Format=01
345800:06:37.808933 vboxSvcClipboardReportMsg: ReadData 01
345900:06:37.808937 vboxSvcClipboardReturnMsg: ReadData 01
346000:06:37.808941 vboxSvcClipboardReportMsg: CallComplete
346100:06:37.809397 svcCall: u32ClientID = 16, fn = 2, cParms = 1, pparms = -1404177080
346200:06:37.809413 svcCall: VBOX_SHARED_CLIPBOARD_FN_FORMATS
346300:06:37.809419 vboxClipboardFormatAnnounce: called. pClient=00007fc1b0005930, u32Formats=01
346400:06:37.809425 clipQueueToEventThread: proc=00007fc1c1947190, client_data=00007fc1a4013910
346500:06:42.808996 clipWaitForDataFromVBox: returning VERR_TIMEOUT
346600:06:42.809048 clipRequestDataFromVBox: returning VERR_TIMEOUT
346700:06:42.809061 ClipRequestDataForX11: returning VERR_TIMEOUT
346800:06:42.809069 clipReadVBoxClipboard: returning VERR_TIMEOUT
346900:06:42.809077 clipXtConvertSelectionProc: returning, internal status code VERR_TIMEOUT
347000:06:42.809327 clipXtConvertSelectionProc:
347100:06:42.809355 clipReadVBoxClipboard: pCtx=00007fc1a4001bc0, u32Format=01, ppv=00007fc18c1678a8, pcb=00007fc18c1678a4
347200:06:42.809370 ClipRequestDataForX11: pCtx=00007fc1a4001af0, u32Format=01, ppv=00007fc1a4001c00, pcb=00007fc1a4001c08
347300:06:42.809382 clipRequestDataFromVBox: pCtx=00007fc1a4001af0, pReq=00007fc18c1677d0, u32Format=01
347400:06:42.809391 clipWaitForDataFromVBox: pCtx=00007fc1a4001af0, pReq=00007fc18c1677d0, u32Format=01
347500:06:42.809400 vboxSvcClipboardReportMsg: ReadData 01
347600:06:47.809536 clipWaitForDataFromVBox: returning VERR_TIMEOUT
347700:06:47.809584 clipRequestDataFromVBox: returning VERR_TIMEOUT
347800:06:47.809596 ClipRequestDataForX11: returning VERR_TIMEOUT
347900:06:47.809604 clipReadVBoxClipboard: returning VERR_TIMEOUT
348000:06:47.809670 clipXtConvertSelectionProc: returning, internal status code VERR_TIMEOUT
348100:06:47.809922 clipXtConvertSelectionProc:
348200:06:47.809946 clipReadVBoxClipboard: pCtx=00007fc1a4001bc0, u32Format=01, ppv=00007fc18c1678a8, pcb=00007fc18c1678a4
348300:06:47.809961 ClipRequestDataForX11: pCtx=00007fc1a4001af0, u32Format=01, ppv=00007fc1a4001c00, pcb=00007fc1a4001c08
348400:06:47.809974 clipRequestDataFromVBox: pCtx=00007fc1a4001af0, pReq=00007fc18c1677d0, u32Format=01
348500:06:47.809983 clipWaitForDataFromVBox: pCtx=00007fc1a4001af0, pReq=00007fc18c1677d0, u32Format=01
348600:06:47.809992 vboxSvcClipboardReportMsg: ReadData 01
348700:06:52.810131 clipWaitForDataFromVBox: returning VERR_TIMEOUT
348800:06:52.810181 clipRequestDataFromVBox: returning VERR_TIMEOUT
348900:06:52.810194 ClipRequestDataForX11: returning VERR_TIMEOUT
349000:06:52.810208 clipReadVBoxClipboard: returning VERR_TIMEOUT
349100:06:52.810226 clipXtConvertSelectionProc: returning, internal status code VERR_TIMEOUT
349200:06:52.810447 clipXtConvertSelectionProc:
349300:06:52.810531 clipReadVBoxClipboard: pCtx=00007fc1a4001bc0, u32Format=01, ppv=00007fc18c1678a8, pcb=00007fc18c1678a4
349400:06:52.810579 ClipRequestDataForX11: pCtx=00007fc1a4001af0, u32Format=01, ppv=00007fc1a4001c00, pcb=00007fc1a4001c08
349500:06:52.810599 clipRequestDataFromVBox: pCtx=00007fc1a4001af0, pReq=00007fc18c1677d0, u32Format=01
349600:06:52.810625 clipWaitForDataFromVBox: pCtx=00007fc1a4001af0, pReq=00007fc18c1677d0, u32Format=01
349700:06:52.810635 vboxSvcClipboardReportMsg: ReadData 01
349800:06:57.810730 clipWaitForDataFromVBox: returning VERR_TIMEOUT
349900:06:57.811097 clipRequestDataFromVBox: returning VERR_TIMEOUT
350000:06:57.811181 ClipRequestDataForX11: returning VERR_TIMEOUT
350100:06:57.811259 clipReadVBoxClipboard: returning VERR_TIMEOUT
350200:06:57.811288 clipXtConvertSelectionProc: returning, internal status code VERR_TIMEOUT
350300:06:57.811677 clipXtConvertSelectionProc:
350400:06:57.811704 clipCreateX11Targets: called
350500:06:57.811716 clipXtConvertSelectionProc: returning, internal status code VINF_SUCCESS
350600:06:57.812039 clipXtConvertSelectionProc:
350700:06:57.812065 clipCreateX11Targets: called
350800:06:57.812077 clipXtConvertSelectionProc: returning, internal status code VINF_SUCCESS
350900:06:57.812307 clipXtConvertSelectionProc:
351000:06:57.812334 clipCreateX11Targets: called
351100:06:57.812346 clipXtConvertSelectionProc: returning, internal status code VINF_SUCCESS
351200:06:57.812709 clipXtConvertSelectionProc:
351300:06:57.812737 clipCreateX11Targets: called
351400:06:57.812748 clipXtConvertSelectionProc: returning, internal status code VINF_SUCCESS
351500:06:57.813112 clipXtConvertSelectionProc:
351600:06:57.813130 clipCreateX11Targets: called
351700:06:57.813140 clipXtConvertSelectionProc: returning, internal status code VINF_SUCCESS
351800:06:57.813830 clipXtConvertSelectionProc:
351900:06:57.813857 clipCreateX11Targets: called
352000:06:57.813869 clipXtConvertSelectionProc: returning, internal status code VINF_SUCCESS
352100:06:57.814209 svcCall: rc = VINF_SUCCESS
352200:06:57.814268 svcCall: u32ClientID = 16, fn = 1, cParms = 2, pparms = -1404177480
352300:06:57.814282 svcCall: VBOX_SHARED_CLIPBOARD_FN_GET_HOST_MSG
352400:06:57.814289 vboxSvcClipboardReturnMsg: ReadData 01
352500:06:57.814297 svcCall: rc = VINF_SUCCESS
352600:06:57.814340 clipNewVBoxFormatsWorker: u32Formats=1
352700:06:57.814381 clipNewVBoxFormatsWorker: returning
352800:06:57.814395 clipDrainWakeupPipe: called
352900:06:57.814419 clipXtConvertSelectionProc:
353000:06:57.814428 clipCreateX11Targets: called
353100:06:57.814438 clipXtConvertSelectionProc: returning, internal status code VINF_SUCCESS
353200:06:57.814823 clipXtConvertSelectionProc:
353300:06:57.814844 clipCreateX11Targets: called
353400:06:57.814854 clipXtConvertSelectionProc: returning, internal status code VINF_SUCCESS
353500:06:57.815069 svcCall: u32ClientID = 16, fn = 2, cParms = 1, pparms = -1404177080
353600:06:57.815106 svcCall: VBOX_SHARED_CLIPBOARD_FN_FORMATS
353700:06:57.815116 vboxClipboardFormatAnnounce: called. pClient=00007fc1b0005930, u32Formats=01
353800:06:57.815129 clipQueueToEventThread: proc=00007fc1c1947190, client_data=00007fc1a4013910
353900:06:57.817257 clipXtConvertSelectionProc:
354000:06:57.817291 clipCreateX11Targets: called
354100:06:57.817302 clipXtConvertSelectionProc: returning, internal status code VINF_SUCCESS
354200:06:57.818190 clipXtConvertSelectionProc:
354300:06:57.818226 clipCreateX11Targets: called
354400:06:57.818238 clipXtConvertSelectionProc: returning, internal status code VINF_SUCCESS
354500:06:57.818435 clipXtConvertSelectionProc:
354600:06:57.818449 clipCreateX11Targets: called
354700:06:57.818459 clipXtConvertSelectionProc: returning, internal status code VINF_SUCCESS
354800:06:57.818582 clipXtConvertSelectionProc:
354900:06:57.818594 clipCreateX11Targets: called
355000:06:57.818603 clipXtConvertSelectionProc: returning, internal status code VINF_SUCCESS
355100:06:57.818771 clipXtConvertSelectionProc:
355200:06:57.818787 clipCreateX11Targets: called
355300:06:57.818796 clipXtConvertSelectionProc: returning, internal status code VINF_SUCCESS
355400:06:57.819005 clipXtConvertSelectionProc:
355500:06:57.819020 clipCreateX11Targets: called
355600:06:57.819029 clipXtConvertSelectionProc: returning, internal status code VINF_SUCCESS
355700:06:57.819199 clipXtConvertSelectionProc:
355800:06:57.819212 clipCreateX11Targets: called
355900:06:57.819220 clipXtConvertSelectionProc: returning, internal status code VINF_SUCCESS
356000:06:57.819340 clipXtConvertSelectionProc:
356100:06:57.819352 clipCreateX11Targets: called
356200:06:57.819460 clipXtConvertSelectionProc: returning, internal status code VINF_SUCCESS
356300:06:57.819589 clipXtConvertSelectionProc:
356400:06:57.819601 clipCreateX11Targets: called
356500:06:57.819609 clipXtConvertSelectionProc: returning, internal status code VINF_SUCCESS
356600:06:57.819779 clipXtConvertSelectionProc:
356700:06:57.819796 clipXtConvertSelectionProc: returning, internal status code VERR_NOT_SUPPORTED
356800:06:57.820069 clipXtConvertSelectionProc:
356900:06:57.820087 clipXtConvertSelectionProc: returning, internal status code VERR_NOT_SUPPORTED
357000:06:57.820206 clipXtConvertSelectionProc:
357100:06:57.820217 clipCreateX11Targets: called
357200:06:57.820225 clipXtConvertSelectionProc: returning, internal status code VINF_SUCCESS
357300:06:57.820863 clipXtConvertSelectionProc:
357400:06:57.820894 clipXtConvertSelectionProc: returning, internal status code VERR_NOT_SUPPORTED
357500:06:57.821349 clipXtConvertSelectionProc:
357600:06:57.821367 clipXtConvertSelectionProc: returning, internal status code VERR_NOT_SUPPORTED
357700:06:57.822153 svcCall: rc = VINF_SUCCESS
357800:06:57.822211 clipXtConvertSelectionProc:
357900:06:57.822252 clipCreateX11Targets: called
358000:06:57.822270 clipXtConvertSelectionProc: returning, internal status code VINF_SUCCESS
358100:06:57.822289 svcCall: u32ClientID = 16, fn = 1, cParms = 2, pparms = -1404177480
358200:06:57.822307 svcCall: VBOX_SHARED_CLIPBOARD_FN_GET_HOST_MSG
358300:06:57.822314 vboxSvcClipboardReturnMsg: no message
358400:06:57.822319 svcCall: async.
358500:06:57.822325 svcCall: rc = VINF_SUCCESS
358600:06:57.822366 clipNewVBoxFormatsWorker: u32Formats=1
358700:06:57.822381 clipNewVBoxFormatsWorker: returning
358800:06:57.822389 clipDrainWakeupPipe: called
358900:06:57.822409 clipXtConvertSelectionProc:
359000:06:57.822419 clipXtConvertSelectionProc: returning, internal status code VERR_NOT_SUPPORTED
359100:06:57.822850 svcCall: u32ClientID = 16, fn = 4, cParms = 2, pparms = -1404181944
359200:06:57.822867 svcCall: VBOX_SHARED_CLIPBOARD_FN_WRITE_DATA
359300:06:57.822874 vboxClipboardWriteData: called. pClient=00007fc1b0005930, pv=00007fc1ac4de278 (The third direction is to allow for certain forms of
359400:06:57.822885 market imperfections. This approach opens up many
359500:06:57.822888 possibilities but goes beyond the neoclassical setting.), cb=322, u32Format=01
359600:06:57.822899 svcCall: rc = VINF_SUCCESS
359700:06:57.823380 clipXtConvertSelectionProc:
359800:06:57.823400 clipXtConvertSelectionProc: returning, internal status code VERR_NOT_SUPPORTED
359900:06:57.823556 clipXtConvertSelectionProc:
360000:06:57.823569 clipCreateX11Targets: called
360100:06:57.823578 clipXtConvertSelectionProc: returning, internal status code VINF_SUCCESS
360200:06:57.824141 svcCall: u32ClientID = 16, fn = 4, cParms = 2, pparms = -1404181944
360300:06:57.824169 svcCall: VBOX_SHARED_CLIPBOARD_FN_WRITE_DATA
360400:06:57.824177 vboxClipboardWriteData: called. pClient=00007fc1b0005930, pv=00007fc1ac4de278 (The third direction is to allow for certain forms of
360500:06:57.824188 market imperfections. This approach opens up many
360600:06:57.824191 possibilities but goes beyond the neoclassical setting.), cb=322, u32Format=01
360700:06:57.824202 svcCall: rc = VINF_SUCCESS
360800:06:57.824235 clipXtConvertSelectionProc:
360900:06:57.824266 clipXtConvertSelectionProc: returning, internal status code VERR_NOT_SUPPORTED
361000:06:57.824361 clipXtConvertSelectionProc:
361100:06:57.824373 clipXtConvertSelectionProc: returning, internal status code VERR_NOT_SUPPORTED
361200:06:57.825306 clipXtConvertSelectionProc:
361300:06:57.825327 clipCreateX11Targets: called
361400:06:57.825336 clipXtConvertSelectionProc: returning, internal status code VINF_SUCCESS
361500:06:57.825686 clipXtConvertSelectionProc:
361600:06:57.825704 clipCreateX11Targets: called
361700:06:57.825713 clipXtConvertSelectionProc: returning, internal status code VINF_SUCCESS
361800:06:57.825984 clipXtConvertSelectionProc:
361900:06:57.825999 clipReadVBoxClipboard: pCtx=00007fc1a4001bc0, u32Format=01, ppv=00007fc18c1678a8, pcb=00007fc18c1678a4
362000:06:57.826013 ClipRequestDataForX11: pCtx=00007fc1a4001af0, u32Format=01, ppv=00007fc1a4001c00, pcb=00007fc1a4001c08
362100:06:57.826025 clipRequestDataFromVBox: pCtx=00007fc1a4001af0, pReq=00007fc18c1677d0, u32Format=01
362200:06:57.826051 clipWaitForDataFromVBox: pCtx=00007fc1a4001af0, pReq=00007fc18c1677d0, u32Format=01
362300:06:57.826060 vboxSvcClipboardReportMsg: ReadData 01
362400:06:57.826067 vboxSvcClipboardReturnMsg: ReadData 01
362500:06:57.826073 vboxSvcClipboardReportMsg: CallComplete
362600:06:57.827852 svcCall: u32ClientID = 16, fn = 4, cParms = 2, pparms = -1404181944
362700:06:57.827880 svcCall: VBOX_SHARED_CLIPBOARD_FN_WRITE_DATA
362800:06:57.827888 vboxClipboardWriteData: called. pClient=00007fc1b0005930, pv=00007fc1ac4de278 (The third direction is to allow for certain forms of
362900:06:57.827898 market imperfections. This approach opens up many
363000:06:57.827902 possibilities but goes beyond the neoclassical setting.), cb=322, u32Format=01
363100:06:57.827924 svcCall: rc = VINF_SUCCESS
363200:06:57.827953 svcCall: u32ClientID = 16, fn = 1, cParms = 2, pparms = -1404177480
363300:06:57.827962 svcCall: VBOX_SHARED_CLIPBOARD_FN_GET_HOST_MSG
363400:06:57.827968 vboxSvcClipboardReturnMsg: no message
363500:06:57.827974 svcCall: async.
363600:06:57.827980 svcCall: rc = VINF_SUCCESS
363700:06:57.829233 clipWaitForDataFromVBox: returning VINF_SUCCESS
363800:06:57.829256 clipRequestDataFromVBox: returning VINF_SUCCESS
363900:06:57.829266 ClipRequestDataForX11: returning VINF_SUCCESS
364000:06:57.829272 ClipRequestDataForX11: *ppv=The third direction is to allow for certain forms of
364100:06:57.829279 market imperfections. This approach opens up many
364200:06:57.829282 possibilities but goes beyond the neoclassical setting., *pcb=322
364300:06:57.829294 clipReadVBoxClipboard: returning VINF_SUCCESS
364400:06:57.829301 clipReadVBoxClipboard: *ppv=The third direction is to allow for certain forms of
364500:06:57.829306 market imperfections. This approach opens up many
364600:06:57.829310 possibilities but goes beyond the neoclassical setting., *pcb=322
364700:06:57.829321 clipWinTxtToUtf8: pwszSrc=The third direction is to allow for certain forms of
364800:06:57.829327 market imperfections. This approach opens up many
364900:06:57.829330 possibilities but goes beyond the neoclassical setting., cbSrc=322
365000:06:57.829350 clipWinTxtToUtf8: returning VINF_SUCCESS
365100:06:57.829356 clipWinTxtToUtf8: converted string is The third direction is to allow for certain forms of
365200:06:57.829360 market imperfections. This approach opens up many
365300:06:57.829361 possibilities but goes beyond the neoclassical setting.. Returning.
365400:06:57.829368 clipXtConvertSelectionProc: returning, internal status code VINF_SUCCESS
365500:06:57.829531 clipXtConvertSelectionProc:
365600:06:57.829552 clipReadVBoxClipboard: pCtx=00007fc1a4001bc0, u32Format=01, ppv=00007fc18c1678a8, pcb=00007fc18c1678a4
365700:06:57.829565 clipReadVBoxClipboard: returning VINF_SUCCESS
365800:06:57.829573 clipReadVBoxClipboard: *ppv=The third direction is to allow for certain forms of
365900:06:57.829579 market imperfections. This approach opens up many
366000:06:57.829583 possibilities but goes beyond the neoclassical setting., *pcb=322
366100:06:57.829594 clipWinTxtToUtf8: pwszSrc=The third direction is to allow for certain forms of
366200:06:57.829600 market imperfections. This approach opens up many
366300:06:57.829603 possibilities but goes beyond the neoclassical setting., cbSrc=322
366400:06:57.829619 clipWinTxtToUtf8: returning VINF_SUCCESS
366500:06:57.829626 clipWinTxtToUtf8: converted string is The third direction is to allow for certain forms of
366600:06:57.829629 market imperfections. This approach opens up many
366700:06:57.829630 possibilities but goes beyond the neoclassical setting.. Returning.
366800:06:57.829637 clipXtConvertSelectionProc: returning, internal status code VINF_SUCCESS
366900:06:57.829855 clipXtConvertSelectionProc:
367000:06:57.829884 clipCreateX11Targets: called
367100:06:57.829895 clipXtConvertSelectionProc: returning, internal status code VINF_SUCCESS
367200:06:57.830053 clipXtConvertSelectionProc:
367300:06:57.830066 clipCreateX11Targets: called
367400:06:57.830075 clipXtConvertSelectionProc: returning, internal status code VINF_SUCCESS
367500:06:57.831021 clipXtConvertSelectionProc:
367600:06:57.831049 clipCreateX11Targets: called
367700:06:57.831060 clipXtConvertSelectionProc: returning, internal status code VINF_SUCCESS
367800:06:57.831669 clipXtConvertSelectionProc:
367900:06:57.831696 clipCreateX11Targets: called
368000:06:57.831707 clipXtConvertSelectionProc: returning, internal status code VINF_SUCCESS
368100:06:57.832109 clipXtConvertSelectionProc:
368200:06:57.832124 clipCreateX11Targets: called
368300:06:57.832133 clipXtConvertSelectionProc: returning, internal status code VINF_SUCCESS
368400:06:57.832228 clipXtConvertSelectionProc:
368500:06:57.832238 clipCreateX11Targets: called
368600:06:57.832246 clipXtConvertSelectionProc: returning, internal status code VINF_SUCCESS
368700:06:57.832330 clipXtConvertSelectionProc:
368800:06:57.832342 clipReadVBoxClipboard: pCtx=00007fc1a4001bc0, u32Format=01, ppv=00007fc18c1678a8, pcb=00007fc18c1678a4
368900:06:57.832356 clipReadVBoxClipboard: returning VINF_SUCCESS
369000:06:57.832364 clipReadVBoxClipboard: *ppv=The third direction is to allow for certain forms of
369100:06:57.832370 market imperfections. This approach opens up many
369200:06:57.832374 possibilities but goes beyond the neoclassical setting., *pcb=322
369300:06:57.832385 clipWinTxtToUtf8: pwszSrc=The third direction is to allow for certain forms of
369400:06:57.832391 market imperfections. This approach opens up many
369500:06:57.832394 possibilities but goes beyond the neoclassical setting., cbSrc=322
369600:06:57.832410 clipWinTxtToUtf8: returning VINF_SUCCESS
369700:06:57.832417 clipWinTxtToUtf8: converted string is The third direction is to allow for certain forms of
369800:06:57.832419 market imperfections. This approach opens up many
369900:06:57.832421 possibilities but goes beyond the neoclassical setting.. Returning.
370000:06:57.832427 clipXtConvertSelectionProc: returning, internal status code VINF_SUCCESS
370100:06:57.832932 clipXtConvertSelectionProc:
370200:06:57.832949 clipReadVBoxClipboard: pCtx=00007fc1a4001bc0, u32Format=01, ppv=00007fc18c1678a8, pcb=00007fc18c1678a4
370300:06:57.832961 clipReadVBoxClipboard: returning VINF_SUCCESS
370400:06:57.832969 clipReadVBoxClipboard: *ppv=The third direction is to allow for certain forms of
370500:06:57.832974 market imperfections. This approach opens up many
370600:06:57.832978 possibilities but goes beyond the neoclassical setting., *pcb=322
370700:06:57.832989 clipWinTxtToUtf8: pwszSrc=The third direction is to allow for certain forms of
370800:06:57.832994 market imperfections. This approach opens up many
370900:06:57.832997 possibilities but goes beyond the neoclassical setting., cbSrc=322
371000:06:57.833012 clipWinTxtToUtf8: returning VINF_SUCCESS
371100:06:57.833018 clipWinTxtToUtf8: converted string is The third direction is to allow for certain forms of
371200:06:57.833021 market imperfections. This approach opens up many
371300:06:57.833022 possibilities but goes beyond the neoclassical setting.. Returning.
371400:06:57.833029 clipXtConvertSelectionProc: returning, internal status code VINF_SUCCESS
371500:06:57.833380 clipXtConvertSelectionProc:
371600:06:57.833395 clipReadVBoxClipboard: pCtx=00007fc1a4001bc0, u32Format=01, ppv=00007fc18c1678a8, pcb=00007fc18c1678a4
371700:06:57.833406 clipReadVBoxClipboard: returning VINF_SUCCESS
371800:06:57.833413 clipReadVBoxClipboard: *ppv=The third direction is to allow for certain forms of
371900:06:57.833419 market imperfections. This approach opens up many
372000:06:57.833422 possibilities but goes beyond the neoclassical setting., *pcb=322
372100:06:57.833433 clipWinTxtToUtf8: pwszSrc=The third direction is to allow for certain forms of
372200:06:57.833438 market imperfections. This approach opens up many
372300:06:57.833442 possibilities but goes beyond the neoclassical setting., cbSrc=322
372400:06:57.833456 clipWinTxtToUtf8: returning VINF_SUCCESS
372500:06:57.833462 clipWinTxtToUtf8: converted string is The third direction is to allow for certain forms of
372600:06:57.833465 market imperfections. This approach opens up many
372700:06:57.833466 possibilities but goes beyond the neoclassical setting.. Returning.
372800:06:57.833472 clipXtConvertSelectionProc: returning, internal status code VINF_SUCCESS
372900:06:57.833811 clipXtConvertSelectionProc:
373000:06:57.833826 clipReadVBoxClipboard: pCtx=00007fc1a4001bc0, u32Format=01, ppv=00007fc18c1678a8, pcb=00007fc18c1678a4
373100:06:57.833854 clipReadVBoxClipboard: returning VINF_SUCCESS
373200:06:57.833862 clipReadVBoxClipboard: *ppv=The third direction is to allow for certain forms of
373300:06:57.833867 market imperfections. This approach opens up many
373400:06:57.833871 possibilities but goes beyond the neoclassical setting., *pcb=322
373500:06:57.833881 clipWinTxtToUtf8: pwszSrc=The third direction is to allow for certain forms of
373600:06:57.833887 market imperfections. This approach opens up many
373700:06:57.833890 possibilities but goes beyond the neoclassical setting., cbSrc=322
373800:06:57.833904 clipWinTxtToUtf8: returning VINF_SUCCESS
373900:06:57.833911 clipWinTxtToUtf8: converted string is The third direction is to allow for certain forms of
374000:06:57.833913 market imperfections. This approach opens up many
374100:06:57.833914 possibilities but goes beyond the neoclassical setting.. Returning.
374200:06:57.833920 clipXtConvertSelectionProc: returning, internal status code VINF_SUCCESS
374300:06:57.834095 clipXtConvertSelectionProc:
374400:06:57.834110 clipReadVBoxClipboard: pCtx=00007fc1a4001bc0, u32Format=01, ppv=00007fc18c1678a8, pcb=00007fc18c1678a4
374500:06:57.834120 clipReadVBoxClipboard: returning VINF_SUCCESS
374600:06:57.834127 clipReadVBoxClipboard: *ppv=The third direction is to allow for certain forms of
374700:06:57.834133 market imperfections. This approach opens up many
374800:06:57.834136 possibilities but goes beyond the neoclassical setting., *pcb=322
374900:06:57.834146 clipWinTxtToUtf8: pwszSrc=The third direction is to allow for certain forms of
375000:06:57.834152 market imperfections. This approach opens up many
375100:06:57.834155 possibilities but goes beyond the neoclassical setting., cbSrc=322
375200:06:57.834169 clipWinTxtToUtf8: returning VINF_SUCCESS
375300:06:57.834175 clipWinTxtToUtf8: converted string is The third direction is to allow for certain forms of
375400:06:57.834178 market imperfections. This approach opens up many
375500:06:57.834179 possibilities but goes beyond the neoclassical setting.. Returning.
375600:06:57.834185 clipXtConvertSelectionProc: returning, internal status code VINF_SUCCESS
375700:06:57.834429 clipXtConvertSelectionProc:
375800:06:57.834459 clipReadVBoxClipboard: pCtx=00007fc1a4001bc0, u32Format=01, ppv=00007fc18c1678a8, pcb=00007fc18c1678a4
375900:06:57.834474 clipReadVBoxClipboard: returning VINF_SUCCESS
376000:06:57.834483 clipReadVBoxClipboard: *ppv=The third direction is to allow for certain forms of
376100:06:57.834490 market imperfections. This approach opens up many
376200:06:57.834493 possibilities but goes beyond the neoclassical setting., *pcb=322
376300:06:57.834505 clipWinTxtToUtf8: pwszSrc=The third direction is to allow for certain forms of
376400:06:57.834511 market imperfections. This approach opens up many
376500:06:57.834514 possibilities but goes beyond the neoclassical setting., cbSrc=322
376600:06:57.834530 clipWinTxtToUtf8: returning VINF_SUCCESS
376700:06:57.834537 clipWinTxtToUtf8: converted string is The third direction is to allow for certain forms of
376800:06:57.834539 market imperfections. This approach opens up many
376900:06:57.834541 possibilities but goes beyond the neoclassical setting.. Returning.
377000:06:57.834548 clipXtConvertSelectionProc: returning, internal status code VINF_SUCCESS
377100:06:57.834918 clipXtConvertSelectionProc:
377200:06:57.834936 clipReadVBoxClipboard: pCtx=00007fc1a4001bc0, u32Format=01, ppv=00007fc18c1678a8, pcb=00007fc18c1678a4
377300:06:57.834948 clipReadVBoxClipboard: returning VINF_SUCCESS
377400:06:57.834956 clipReadVBoxClipboard: *ppv=The third direction is to allow for certain forms of
377500:06:57.834961 market imperfections. This approach opens up many
377600:06:57.834965 possibilities but goes beyond the neoclassical setting., *pcb=322
377700:06:57.834976 clipWinTxtToUtf8: pwszSrc=The third direction is to allow for certain forms of
377800:06:57.834981 market imperfections. This approach opens up many
377900:06:57.834984 possibilities but goes beyond the neoclassical setting., cbSrc=322
378000:06:57.834999 clipWinTxtToUtf8: returning VINF_SUCCESS
378100:06:57.835006 clipWinTxtToUtf8: converted string is The third direction is to allow for certain forms of
378200:06:57.835008 market imperfections. This approach opens up many
378300:06:57.835009 possibilities but goes beyond the neoclassical setting.. Returning.
378400:06:57.835031 clipXtConvertSelectionProc: returning, internal status code VINF_SUCCESS
378500:06:57.835221 clipXtConvertSelectionProc:
378600:06:57.835235 clipReadVBoxClipboard: pCtx=00007fc1a4001bc0, u32Format=01, ppv=00007fc18c1678a8, pcb=00007fc18c1678a4
378700:06:57.835245 clipReadVBoxClipboard: returning VINF_SUCCESS
378800:06:57.835252 clipReadVBoxClipboard: *ppv=The third direction is to allow for certain forms of
378900:06:57.835258 market imperfections. This approach opens up many
379000:06:57.835261 possibilities but goes beyond the neoclassical setting., *pcb=322
379100:06:57.835272 clipWinTxtToUtf8: pwszSrc=The third direction is to allow for certain forms of
379200:06:57.835277 market imperfections. This approach opens up many
379300:06:57.835280 possibilities but goes beyond the neoclassical setting., cbSrc=322
379400:06:57.835294 clipWinTxtToUtf8: returning VINF_SUCCESS
379500:06:57.835300 clipWinTxtToUtf8: converted string is The third direction is to allow for certain forms of
379600:06:57.835302 market imperfections. This approach opens up many
379700:06:57.835303 possibilities but goes beyond the neoclassical setting.. Returning.
379800:06:57.835310 clipXtConvertSelectionProc: returning, internal status code VINF_SUCCESS
379900:06:57.835521 clipXtConvertSelectionProc:
380000:06:57.835533 clipReadVBoxClipboard: pCtx=00007fc1a4001bc0, u32Format=01, ppv=00007fc18c1678a8, pcb=00007fc18c1678a4
380100:06:57.835543 clipReadVBoxClipboard: returning VINF_SUCCESS
380200:06:57.835550 clipReadVBoxClipboard: *ppv=The third direction is to allow for certain forms of
380300:06:57.835556 market imperfections. This approach opens up many
380400:06:57.835559 possibilities but goes beyond the neoclassical setting., *pcb=322
380500:06:57.835569 clipWinTxtToUtf8: pwszSrc=The third direction is to allow for certain forms of
380600:06:57.835575 market imperfections. This approach opens up many
380700:06:57.835578 possibilities but goes beyond the neoclassical setting., cbSrc=322
380800:06:57.835591 clipWinTxtToUtf8: returning VINF_SUCCESS
380900:06:57.835598 clipWinTxtToUtf8: converted string is The third direction is to allow for certain forms of
381000:06:57.835600 market imperfections. This approach opens up many
381100:06:57.835601 possibilities but goes beyond the neoclassical setting.. Returning.
381200:06:57.835607 clipXtConvertSelectionProc: returning, internal status code VINF_SUCCESS
381300:06:57.835706 clipXtConvertSelectionProc:
381400:06:57.835718 clipReadVBoxClipboard: pCtx=00007fc1a4001bc0, u32Format=01, ppv=00007fc18c1678a8, pcb=00007fc18c1678a4
381500:06:57.835728 clipReadVBoxClipboard: returning VINF_SUCCESS
381600:06:57.835735 clipReadVBoxClipboard: *ppv=The third direction is to allow for certain forms of
381700:06:57.835740 market imperfections. This approach opens up many
381800:06:57.835743 possibilities but goes beyond the neoclassical setting., *pcb=322
381900:06:57.835753 clipWinTxtToUtf8: pwszSrc=The third direction is to allow for certain forms of
382000:06:57.835759 market imperfections. This approach opens up many
382100:06:57.835762 possibilities but goes beyond the neoclassical setting., cbSrc=322
382200:06:57.835776 clipWinTxtToUtf8: returning VINF_SUCCESS
382300:06:57.835782 clipWinTxtToUtf8: converted string is The third direction is to allow for certain forms of
382400:06:57.835784 market imperfections. This approach opens up many
382500:06:57.835785 possibilities but goes beyond the neoclassical setting.. Returning.
382600:06:57.835791 clipXtConvertSelectionProc: returning, internal status code VINF_SUCCESS
382700:06:57.835971 clipXtConvertSelectionProc:
382800:06:57.835998 clipReadVBoxClipboard: pCtx=00007fc1a4001bc0, u32Format=01, ppv=00007fc18c1678a8, pcb=00007fc18c1678a4
382900:06:57.836013 clipReadVBoxClipboard: returning VINF_SUCCESS
383000:06:57.836021 clipReadVBoxClipboard: *ppv=The third direction is to allow for certain forms of
383100:06:57.836027 market imperfections. This approach opens up many
383200:06:57.836030 possibilities but goes beyond the neoclassical setting., *pcb=322
383300:06:57.836042 clipWinTxtToUtf8: pwszSrc=The third direction is to allow for certain forms of
383400:06:57.836048 market imperfections. This approach opens up many
383500:06:57.836052 possibilities but goes beyond the neoclassical setting., cbSrc=322
383600:06:57.836081 clipWinTxtToUtf8: returning VINF_SUCCESS
383700:06:57.836088 clipWinTxtToUtf8: converted string is The third direction is to allow for certain forms of
383800:06:57.836091 market imperfections. This approach opens up many
383900:06:57.836092 possibilities but goes beyond the neoclassical setting.. Returning.
384000:06:57.836099 clipXtConvertSelectionProc: returning, internal status code VINF_SUCCESS
384100:06:57.836299 clipXtConvertSelectionProc:
384200:06:57.836313 clipReadVBoxClipboard: pCtx=00007fc1a4001bc0, u32Format=01, ppv=00007fc18c1678a8, pcb=00007fc18c1678a4
384300:06:57.836325 clipReadVBoxClipboard: returning VINF_SUCCESS
384400:06:57.836332 clipReadVBoxClipboard: *ppv=The third direction is to allow for certain forms of
384500:06:57.836337 market imperfections. This approach opens up many
384600:06:57.836341 possibilities but goes beyond the neoclassical setting., *pcb=322
384700:06:57.836351 clipWinTxtToUtf8: pwszSrc=The third direction is to allow for certain forms of
384800:06:57.836357 market imperfections. This approach opens up many
384900:06:57.836360 possibilities but goes beyond the neoclassical setting., cbSrc=322
385000:06:57.836374 clipWinTxtToUtf8: returning VINF_SUCCESS
385100:06:57.836381 clipWinTxtToUtf8: converted string is The third direction is to allow for certain forms of
385200:06:57.836383 market imperfections. This approach opens up many
385300:06:57.836384 possibilities but goes beyond the neoclassical setting.. Returning.
385400:06:57.836390 clipXtConvertSelectionProc: returning, internal status code VINF_SUCCESS
385500:06:57.836495 clipXtConvertSelectionProc:
385600:06:57.836516 clipReadVBoxClipboard: pCtx=00007fc1a4001bc0, u32Format=01, ppv=00007fc18c1678a8, pcb=00007fc18c1678a4
385700:06:57.836528 clipReadVBoxClipboard: returning VINF_SUCCESS
385800:06:57.836536 clipReadVBoxClipboard: *ppv=The third direction is to allow for certain forms of
385900:06:57.836541 market imperfections. This approach opens up many
386000:06:57.836545 possibilities but goes beyond the neoclassical setting., *pcb=322
386100:06:57.836556 clipWinTxtToUtf8: pwszSrc=The third direction is to allow for certain forms of
386200:06:57.836561 market imperfections. This approach opens up many
386300:06:57.836565 possibilities but goes beyond the neoclassical setting., cbSrc=322
386400:06:57.836579 clipWinTxtToUtf8: returning VINF_SUCCESS
386500:06:57.836586 clipWinTxtToUtf8: converted string is The third direction is to allow for certain forms of
386600:06:57.836588 market imperfections. This approach opens up many
386700:06:57.836589 possibilities but goes beyond the neoclassical setting.. Returning.
386800:06:57.836596 clipXtConvertSelectionProc: returning, internal status code VINF_SUCCESS
386900:06:57.836806 clipXtConvertSelectionProc:
387000:06:57.836817 clipReadVBoxClipboard: pCtx=00007fc1a4001bc0, u32Format=01, ppv=00007fc18c1678a8, pcb=00007fc18c1678a4
387100:06:57.836827 clipReadVBoxClipboard: returning VINF_SUCCESS
387200:06:57.836834 clipReadVBoxClipboard: *ppv=The third direction is to allow for certain forms of
387300:06:57.836839 market imperfections. This approach opens up many
387400:06:57.836843 possibilities but goes beyond the neoclassical setting., *pcb=322
387500:06:57.836853 clipWinTxtToUtf8: pwszSrc=The third direction is to allow for certain forms of
387600:06:57.836858 market imperfections. This approach opens up many
387700:06:57.836862 possibilities but goes beyond the neoclassical setting., cbSrc=322
387800:06:57.836875 clipWinTxtToUtf8: returning VINF_SUCCESS
387900:06:57.836881 clipWinTxtToUtf8: converted string is The third direction is to allow for certain forms of
388000:06:57.836883 market imperfections. This approach opens up many
388100:06:57.836884 possibilities but goes beyond the neoclassical setting.. Returning.
388200:06:57.836890 clipXtConvertSelectionProc: returning, internal status code VINF_SUCCESS
388300:06:57.837046 clipXtConvertSelectionProc:
388400:06:57.837074 clipReadVBoxClipboard: pCtx=00007fc1a4001bc0, u32Format=01, ppv=00007fc18c1678a8, pcb=00007fc18c1678a4
388500:06:57.837104 clipReadVBoxClipboard: returning VINF_SUCCESS
388600:06:57.837113 clipReadVBoxClipboard: *ppv=The third direction is to allow for certain forms of
388700:06:57.837120 market imperfections. This approach opens up many
388800:06:57.837123 possibilities but goes beyond the neoclassical setting., *pcb=322
388900:06:57.837135 clipWinTxtToUtf8: pwszSrc=The third direction is to allow for certain forms of
389000:06:57.837141 market imperfections. This approach opens up many
389100:06:57.837144 possibilities but goes beyond the neoclassical setting., cbSrc=322
389200:06:57.837159 clipWinTxtToUtf8: returning VINF_SUCCESS
389300:06:57.837166 clipWinTxtToUtf8: converted string is The third direction is to allow for certain forms of
389400:06:57.837169 market imperfections. This approach opens up many
389500:06:57.837170 possibilities but goes beyond the neoclassical setting.. Returning.
389600:06:57.837177 clipXtConvertSelectionProc: returning, internal status code VINF_SUCCESS
389700:06:57.837301 clipXtConvertSelectionProc:
389800:06:57.837354 clipReadVBoxClipboard: pCtx=00007fc1a4001bc0, u32Format=01, ppv=00007fc18c1678a8, pcb=00007fc18c1678a4
389900:06:57.837367 clipReadVBoxClipboard: returning VINF_SUCCESS
390000:06:57.837374 clipReadVBoxClipboard: *ppv=The third direction is to allow for certain forms of
390100:06:57.837379 market imperfections. This approach opens up many
390200:06:57.837383 possibilities but goes beyond the neoclassical setting., *pcb=322
390300:06:57.837394 clipWinTxtToUtf8: pwszSrc=The third direction is to allow for certain forms of
390400:06:57.837399 market imperfections. This approach opens up many
390500:06:57.837403 possibilities but goes beyond the neoclassical setting., cbSrc=322
390600:06:57.837417 clipWinTxtToUtf8: returning VINF_SUCCESS
390700:06:57.837423 clipWinTxtToUtf8: converted string is The third direction is to allow for certain forms of
390800:06:57.837425 market imperfections. This approach opens up many
390900:06:57.837427 possibilities but goes beyond the neoclassical setting.. Returning.
391000:06:57.837433 clipXtConvertSelectionProc: returning, internal status code VINF_SUCCESS
391100:06:57.837545 clipXtConvertSelectionProc:
391200:06:57.837557 clipReadVBoxClipboard: pCtx=00007fc1a4001bc0, u32Format=01, ppv=00007fc18c1678a8, pcb=00007fc18c1678a4
391300:06:57.837567 clipReadVBoxClipboard: returning VINF_SUCCESS
391400:06:57.837574 clipReadVBoxClipboard: *ppv=The third direction is to allow for certain forms of
391500:06:57.837580 market imperfections. This approach opens up many
391600:06:57.837583 possibilities but goes beyond the neoclassical setting., *pcb=322
391700:06:57.837593 clipWinTxtToUtf8: pwszSrc=The third direction is to allow for certain forms of
391800:06:57.837599 market imperfections. This approach opens up many
391900:06:57.837602 possibilities but goes beyond the neoclassical setting., cbSrc=322
392000:06:57.837616 clipWinTxtToUtf8: returning VINF_SUCCESS
392100:06:57.837622 clipWinTxtToUtf8: converted string is The third direction is to allow for certain forms of
392200:06:57.837624 market imperfections. This approach opens up many
392300:06:57.837625 possibilities but goes beyond the neoclassical setting.. Returning.
392400:06:57.837632 clipXtConvertSelectionProc: returning, internal status code VINF_SUCCESS
392500:06:57.837838 clipXtConvertSelectionProc:
392600:06:57.837850 clipReadVBoxClipboard: pCtx=00007fc1a4001bc0, u32Format=01, ppv=00007fc18c1678a8, pcb=00007fc18c1678a4
392700:06:57.837860 clipReadVBoxClipboard: returning VINF_SUCCESS
392800:06:57.837867 clipReadVBoxClipboard: *ppv=The third direction is to allow for certain forms of
392900:06:57.837872 market imperfections. This approach opens up many
393000:06:57.837876 possibilities but goes beyond the neoclassical setting., *pcb=322
393100:06:57.837886 clipWinTxtToUtf8: pwszSrc=The third direction is to allow for certain forms of
393200:06:57.837891 market imperfections. This approach opens up many
393300:06:57.837895 possibilities but goes beyond the neoclassical setting., cbSrc=322
393400:06:57.837908 clipWinTxtToUtf8: returning VINF_SUCCESS
393500:06:57.837914 clipWinTxtToUtf8: converted string is The third direction is to allow for certain forms of
393600:06:57.837916 market imperfections. This approach opens up many
393700:06:57.837917 possibilities but goes beyond the neoclassical setting.. Returning.
393800:06:57.837933 clipXtConvertSelectionProc: returning, internal status code VINF_SUCCESS
393900:06:57.838097 clipXtConvertSelectionProc:
394000:06:57.838108 clipCreateX11Targets: called
394100:06:57.838153 clipXtConvertSelectionProc: returning, internal status code VINF_SUCCESS
394200:06:57.838260 clipXtConvertSelectionProc:
394300:06:57.838282 clipReadVBoxClipboard: pCtx=00007fc1a4001bc0, u32Format=01, ppv=00007fc18c1678a8, pcb=00007fc18c1678a4
394400:06:57.838294 clipReadVBoxClipboard: returning VINF_SUCCESS
394500:06:57.838301 clipReadVBoxClipboard: *ppv=The third direction is to allow for certain forms of
394600:06:57.838307 market imperfections. This approach opens up many
394700:06:57.838311 possibilities but goes beyond the neoclassical setting., *pcb=322
394800:06:57.838321 clipWinTxtToUtf8: pwszSrc=The third direction is to allow for certain forms of
394900:06:57.838327 market imperfections. This approach opens up many
395000:06:57.838330 possibilities but goes beyond the neoclassical setting., cbSrc=322
395100:06:57.838345 clipWinTxtToUtf8: returning VINF_SUCCESS
395200:06:57.838351 clipWinTxtToUtf8: converted string is The third direction is to allow for certain forms of
395300:06:57.838354 market imperfections. This approach opens up many
395400:06:57.838355 possibilities but goes beyond the neoclassical setting.. Returning.
395500:06:57.838361 clipXtConvertSelectionProc: returning, internal status code VINF_SUCCESS
395600:06:57.838515 clipXtConvertSelectionProc:
395700:06:57.838533 clipReadVBoxClipboard: pCtx=00007fc1a4001bc0, u32Format=01, ppv=00007fc18c1678a8, pcb=00007fc18c1678a4
395800:06:57.838544 clipReadVBoxClipboard: returning VINF_SUCCESS
395900:06:57.838551 clipReadVBoxClipboard: *ppv=The third direction is to allow for certain forms of
396000:06:57.838557 market imperfections. This approach opens up many
396100:06:57.838561 possibilities but goes beyond the neoclassical setting., *pcb=322
396200:06:57.838571 clipWinTxtToUtf8: pwszSrc=The third direction is to allow for certain forms of
396300:06:57.838576 market imperfections. This approach opens up many
396400:06:57.838580 possibilities but goes beyond the neoclassical setting., cbSrc=322
396500:06:57.838594 clipWinTxtToUtf8: returning VINF_SUCCESS
396600:06:57.838600 clipWinTxtToUtf8: converted string is The third direction is to allow for certain forms of
396700:06:57.838603 market imperfections. This approach opens up many
396800:06:57.838604 possibilities but goes beyond the neoclassical setting.. Returning.
396900:06:57.838610 clipXtConvertSelectionProc: returning, internal status code VINF_SUCCESS
397000:06:57.838882 clipXtConvertSelectionProc:
397100:06:57.838899 clipReadVBoxClipboard: pCtx=00007fc1a4001bc0, u32Format=01, ppv=00007fc18c1678a8, pcb=00007fc18c1678a4
397200:06:57.838910 clipReadVBoxClipboard: returning VINF_SUCCESS
397300:06:57.838917 clipReadVBoxClipboard: *ppv=The third direction is to allow for certain forms of
397400:06:57.838923 market imperfections. This approach opens up many
397500:06:57.838926 possibilities but goes beyond the neoclassical setting., *pcb=322
397600:06:57.838936 clipWinTxtToUtf8: pwszSrc=The third direction is to allow for certain forms of
397700:06:57.838942 market imperfections. This approach opens up many
397800:06:57.838945 possibilities but goes beyond the neoclassical setting., cbSrc=322
397900:06:57.838959 clipWinTxtToUtf8: returning VINF_SUCCESS
398000:06:57.838965 clipWinTxtToUtf8: converted string is The third direction is to allow for certain forms of
398100:06:57.838967 market imperfections. This approach opens up many
398200:06:57.838968 possibilities but goes beyond the neoclassical setting.. Returning.
398300:06:57.838974 clipXtConvertSelectionProc: returning, internal status code VINF_SUCCESS
398400:06:57.839113 clipXtConvertSelectionProc:
398500:06:57.839130 clipReadVBoxClipboard: pCtx=00007fc1a4001bc0, u32Format=01, ppv=00007fc18c1678a8, pcb=00007fc18c1678a4
398600:06:57.839141 clipReadVBoxClipboard: returning VINF_SUCCESS
398700:06:57.839149 clipReadVBoxClipboard: *ppv=The third direction is to allow for certain forms of
398800:06:57.839154 market imperfections. This approach opens up many
398900:06:57.839158 possibilities but goes beyond the neoclassical setting., *pcb=322
399000:06:57.839181 clipWinTxtToUtf8: pwszSrc=The third direction is to allow for certain forms of
399100:06:57.839187 market imperfections. This approach opens up many
399200:06:57.839190 possibilities but goes beyond the neoclassical setting., cbSrc=322
399300:06:57.839205 clipWinTxtToUtf8: returning VINF_SUCCESS
399400:06:57.839212 clipWinTxtToUtf8: converted string is The third direction is to allow for certain forms of
399500:06:57.839214 market imperfections. This approach opens up many
399600:06:57.839215 possibilities but goes beyond the neoclassical setting.. Returning.
399700:06:57.839221 clipXtConvertSelectionProc: returning, internal status code VINF_SUCCESS
399800:06:57.839410 clipXtConvertSelectionProc:
399900:06:57.839422 clipReadVBoxClipboard: pCtx=00007fc1a4001bc0, u32Format=01, ppv=00007fc18c1678a8, pcb=00007fc18c1678a4
400000:06:57.839432 clipReadVBoxClipboard: returning VINF_SUCCESS
400100:06:57.839439 clipReadVBoxClipboard: *ppv=The third direction is to allow for certain forms of
400200:06:57.839444 market imperfections. This approach opens up many
400300:06:57.839448 possibilities but goes beyond the neoclassical setting., *pcb=322
400400:06:57.839458 clipWinTxtToUtf8: pwszSrc=The third direction is to allow for certain forms of
400500:06:57.839463 market imperfections. This approach opens up many
400600:06:57.839467 possibilities but goes beyond the neoclassical setting., cbSrc=322
400700:06:57.839480 clipWinTxtToUtf8: returning VINF_SUCCESS
400800:06:57.839487 clipWinTxtToUtf8: converted string is The third direction is to allow for certain forms of
400900:06:57.839489 market imperfections. This approach opens up many
401000:06:57.839490 possibilities but goes beyond the neoclassical setting.. Returning.
401100:06:57.839496 clipXtConvertSelectionProc: returning, internal status code VINF_SUCCESS
401200:06:57.839785 clipXtConvertSelectionProc:
401300:06:57.839797 clipReadVBoxClipboard: pCtx=00007fc1a4001bc0, u32Format=01, ppv=00007fc18c1678a8, pcb=00007fc18c1678a4
401400:06:57.839807 clipReadVBoxClipboard: returning VINF_SUCCESS
401500:06:57.839814 clipReadVBoxClipboard: *ppv=The third direction is to allow for certain forms of
401600:06:57.839819 market imperfections. This approach opens up many
401700:06:57.839823 possibilities but goes beyond the neoclassical setting., *pcb=322
401800:06:57.839833 clipWinTxtToUtf8: pwszSrc=The third direction is to allow for certain forms of
401900:06:57.839838 market imperfections. This approach opens up many
402000:06:57.839842 possibilities but goes beyond the neoclassical setting., cbSrc=322
402100:06:57.839855 clipWinTxtToUtf8: returning VINF_SUCCESS
402200:06:57.839862 clipWinTxtToUtf8: converted string is The third direction is to allow for certain forms of
402300:06:57.839864 market imperfections. This approach opens up many
402400:06:57.839865 possibilities but goes beyond the neoclassical setting.. Returning.
402500:06:57.839871 clipXtConvertSelectionProc: returning, internal status code VINF_SUCCESS
402600:06:57.840039 clipXtConvertSelectionProc:
402700:06:57.840061 clipReadVBoxClipboard: pCtx=00007fc1a4001bc0, u32Format=01, ppv=00007fc18c1678a8, pcb=00007fc18c1678a4
402800:06:57.840073 clipReadVBoxClipboard: returning VINF_SUCCESS
402900:06:57.840081 clipReadVBoxClipboard: *ppv=The third direction is to allow for certain forms of
403000:06:57.840087 market imperfections. This approach opens up many
403100:06:57.840091 possibilities but goes beyond the neoclassical setting., *pcb=322
403200:06:57.840102 clipWinTxtToUtf8: pwszSrc=The third direction is to allow for certain forms of
403300:06:57.840107 market imperfections. This approach opens up many
403400:06:57.840110 possibilities but goes beyond the neoclassical setting., cbSrc=322
403500:06:57.840125 clipWinTxtToUtf8: returning VINF_SUCCESS
403600:06:57.840131 clipWinTxtToUtf8: converted string is The third direction is to allow for certain forms of
403700:06:57.840134 market imperfections. This approach opens up many
403800:06:57.840135 possibilities but goes beyond the neoclassical setting.. Returning.
403900:06:57.840159 clipXtConvertSelectionProc: returning, internal status code VINF_SUCCESS
404000:06:57.840314 clipXtConvertSelectionProc:
404100:06:57.840327 clipReadVBoxClipboard: pCtx=00007fc1a4001bc0, u32Format=01, ppv=00007fc18c1678a8, pcb=00007fc18c1678a4
404200:06:57.840337 clipReadVBoxClipboard: returning VINF_SUCCESS
404300:06:57.840344 clipReadVBoxClipboard: *ppv=The third direction is to allow for certain forms of
404400:06:57.840350 market imperfections. This approach opens up many
404500:06:57.840353 possibilities but goes beyond the neoclassical setting., *pcb=322
404600:06:57.840364 clipWinTxtToUtf8: pwszSrc=The third direction is to allow for certain forms of
404700:06:57.840369 market imperfections. This approach opens up many
404800:06:57.840372 possibilities but goes beyond the neoclassical setting., cbSrc=322
404900:06:57.840386 clipWinTxtToUtf8: returning VINF_SUCCESS
405000:06:57.840392 clipWinTxtToUtf8: converted string is The third direction is to allow for certain forms of
405100:06:57.840395 market imperfections. This approach opens up many
405200:06:57.840396 possibilities but goes beyond the neoclassical setting.. Returning.
405300:06:57.840402 clipXtConvertSelectionProc: returning, internal status code VINF_SUCCESS
405400:06:57.840519 clipXtConvertSelectionProc:
405500:06:57.840530 clipCreateX11Targets: called
405600:06:57.840539 clipXtConvertSelectionProc: returning, internal status code VINF_SUCCESS
405700:06:57.840720 clipXtConvertSelectionProc:
405800:06:57.840741 clipReadVBoxClipboard: pCtx=00007fc1a4001bc0, u32Format=01, ppv=00007fc18c1678a8, pcb=00007fc18c1678a4
405900:06:57.840752 clipReadVBoxClipboard: returning VINF_SUCCESS
406000:06:57.840760 clipReadVBoxClipboard: *ppv=The third direction is to allow for certain forms of
406100:06:57.840766 market imperfections. This approach opens up many
406200:06:57.840769 possibilities but goes beyond the neoclassical setting., *pcb=322
406300:06:57.840780 clipWinTxtToUtf8: pwszSrc=The third direction is to allow for certain forms of
406400:06:57.840785 market imperfections. This approach opens up many
406500:06:57.840789 possibilities but goes beyond the neoclassical setting., cbSrc=322
406600:06:57.840803 clipWinTxtToUtf8: returning VINF_SUCCESS
406700:06:57.840810 clipWinTxtToUtf8: converted string is The third direction is to allow for certain forms of
406800:06:57.840812 market imperfections. This approach opens up many
406900:06:57.840813 possibilities but goes beyond the neoclassical setting.. Returning.
407000:06:57.840819 clipXtConvertSelectionProc: returning, internal status code VINF_SUCCESS
407100:06:57.841257 clipXtConvertSelectionProc:
407200:06:57.841274 clipReadVBoxClipboard: pCtx=00007fc1a4001bc0, u32Format=01, ppv=00007fc18c1678a8, pcb=00007fc18c1678a4
407300:06:57.841324 clipReadVBoxClipboard: returning VINF_SUCCESS
407400:06:57.841335 clipReadVBoxClipboard: *ppv=The third direction is to allow for certain forms of
407500:06:57.841341 market imperfections. This approach opens up many
407600:06:57.841344 possibilities but goes beyond the neoclassical setting., *pcb=322
407700:06:57.841356 clipWinTxtToUtf8: pwszSrc=The third direction is to allow for certain forms of
407800:06:57.841361 market imperfections. This approach opens up many
407900:06:57.841364 possibilities but goes beyond the neoclassical setting., cbSrc=322
408000:06:57.841379 clipWinTxtToUtf8: returning VINF_SUCCESS
408100:06:57.841385 clipWinTxtToUtf8: converted string is The third direction is to allow for certain forms of
408200:06:57.841388 market imperfections. This approach opens up many
408300:06:57.841389 possibilities but goes beyond the neoclassical setting.. Returning.
408400:06:57.841395 clipXtConvertSelectionProc: returning, internal status code VINF_SUCCESS
408500:06:57.841809 clipXtConvertSelectionProc:
408600:06:57.841821 clipReadVBoxClipboard: pCtx=00007fc1a4001bc0, u32Format=01, ppv=00007fc18c1678a8, pcb=00007fc18c1678a4
408700:06:57.841831 clipReadVBoxClipboard: returning VINF_SUCCESS
408800:06:57.841838 clipReadVBoxClipboard: *ppv=The third direction is to allow for certain forms of
408900:06:57.841844 market imperfections. This approach opens up many
409000:06:57.841847 possibilities but goes beyond the neoclassical setting., *pcb=322
409100:06:57.841872 clipWinTxtToUtf8: pwszSrc=The third direction is to allow for certain forms of
409200:06:57.841877 market imperfections. This approach opens up many
409300:06:57.841880 possibilities but goes beyond the neoclassical setting., cbSrc=322
409400:06:57.841895 clipWinTxtToUtf8: returning VINF_SUCCESS
409500:06:57.841901 clipWinTxtToUtf8: converted string is The third direction is to allow for certain forms of
409600:06:57.841903 market imperfections. This approach opens up many
409700:06:57.841904 possibilities but goes beyond the neoclassical setting.. Returning.
409800:06:57.841910 clipXtConvertSelectionProc: returning, internal status code VINF_SUCCESS
409900:06:57.842186 clipXtConvertSelectionProc:
410000:06:57.842202 clipReadVBoxClipboard: pCtx=00007fc1a4001bc0, u32Format=01, ppv=00007fc18c1678a8, pcb=00007fc18c1678a4
410100:06:57.842212 clipReadVBoxClipboard: returning VINF_SUCCESS
410200:06:57.842219 clipReadVBoxClipboard: *ppv=The third direction is to allow for certain forms of
410300:06:57.842225 market imperfections. This approach opens up many
410400:06:57.842228 possibilities but goes beyond the neoclassical setting., *pcb=322
410500:06:57.842238 clipWinTxtToUtf8: pwszSrc=The third direction is to allow for certain forms of
410600:06:57.842244 market imperfections. This approach opens up many
410700:06:57.842247 possibilities but goes beyond the neoclassical setting., cbSrc=322
410800:06:57.842261 clipWinTxtToUtf8: returning VINF_SUCCESS
410900:06:57.842267 clipWinTxtToUtf8: converted string is The third direction is to allow for certain forms of
411000:06:57.842269 market imperfections. This approach opens up many
411100:06:57.842270 possibilities but goes beyond the neoclassical setting.. Returning.
411200:06:57.842277 clipXtConvertSelectionProc: returning, internal status code VINF_SUCCESS
411300:06:57.842500 clipXtConvertSelectionProc:
411400:06:57.842515 clipCreateX11Targets: called
411500:06:57.842523 clipXtConvertSelectionProc: returning, internal status code VINF_SUCCESS
411600:06:57.842763 clipXtConvertSelectionProc:
411700:06:57.842780 clipCreateX11Targets: called
411800:06:57.842788 clipXtConvertSelectionProc: returning, internal status code VINF_SUCCESS
411900:06:57.843057 clipXtConvertSelectionProc:
412000:06:57.843074 clipCreateX11Targets: called
412100:06:57.843082 clipXtConvertSelectionProc: returning, internal status code VINF_SUCCESS
412200:06:57.844279 clipXtConvertSelectionProc:
412300:06:57.844300 clipCreateX11Targets: called
412400:06:57.844309 clipXtConvertSelectionProc: returning, internal status code VINF_SUCCESS
412500:06:57.844470 clipXtConvertSelectionProc:
412600:06:57.844482 clipCreateX11Targets: called
412700:06:57.844490 clipXtConvertSelectionProc: returning, internal status code VINF_SUCCESS
412800:06:57.844768 clipXtConvertSelectionProc:
412900:06:57.844784 clipCreateX11Targets: called
413000:06:57.844792 clipXtConvertSelectionProc: returning, internal status code VINF_SUCCESS
413100:07:00.716006 clipXtConvertSelectionProc:
413200:07:00.716058 clipCreateX11Targets: called
413300:07:00.716070 clipXtConvertSelectionProc: returning, internal status code VINF_SUCCESS
413400:07:02.819671 clipXtConvertSelectionProc:
413500:07:02.819724 clipCreateX11Targets: called
413600:07:02.819741 clipXtConvertSelectionProc: returning, internal status code VINF_SUCCESS
413700:07:03.479184 clipXtConvertSelectionProc:
413800:07:03.479203 clipCreateX11Targets: called
413900:07:03.479206 clipXtConvertSelectionProc: returning, internal status code VINF_SUCCESS
414000:07:03.479724 clipXtConvertSelectionProc:
414100:07:03.479735 clipCreateX11Targets: called
414200:07:03.479738 clipXtConvertSelectionProc: returning, internal status code VINF_SUCCESS
414300:07:05.724206 clipXtConvertSelectionProc:
414400:07:05.724259 clipCreateX11Targets: called
414500:07:05.724272 clipXtConvertSelectionProc: returning, internal status code VINF_SUCCESS
414600:07:06.515269 clipXtConvertSelectionProc:
414700:07:06.515322 clipCreateX11Targets: called
414800:07:06.515334 clipXtConvertSelectionProc: returning, internal status code VINF_SUCCESS
414900:07:06.526632 clipXtConvertSelectionProc:
415000:07:06.526677 clipCreateX11Targets: called
415100:07:06.526685 clipXtConvertSelectionProc: returning, internal status code VINF_SUCCESS
415200:07:07.643719 clipXtConvertSelectionProc:
415300:07:07.643768 clipXtConvertSelectionProc: returning, internal status code VERR_NOT_SUPPORTED
415400:07:07.644877 clipXtConvertSelectionProc:
415500:07:07.644914 clipCreateX11Targets: called
415600:07:07.644926 clipXtConvertSelectionProc: returning, internal status code VINF_SUCCESS
415700:07:07.645965 clipXtConvertSelectionProc:
415800:07:07.646001 clipReadVBoxClipboard: pCtx=00007fc1a4001bc0, u32Format=01, ppv=00007fc18c1678a8, pcb=00007fc18c1678a4
415900:07:07.646018 clipReadVBoxClipboard: returning VINF_SUCCESS
416000:07:07.646027 clipReadVBoxClipboard: *ppv=The third direction is to allow for certain forms of
416100:07:07.646033 market imperfections. This approach opens up many
416200:07:07.646037 possibilities but goes beyond the neoclassical setting., *pcb=322
416300:07:07.646049 clipWinTxtToUtf8: pwszSrc=The third direction is to allow for certain forms of
416400:07:07.646055 market imperfections. This approach opens up many
416500:07:07.646058 possibilities but goes beyond the neoclassical setting., cbSrc=322
416600:07:07.646073 clipWinTxtToUtf8: returning VINF_SUCCESS
416700:07:07.646080 clipWinTxtToUtf8: converted string is The third direction is to allow for certain forms of
416800:07:07.646083 market imperfections. This approach opens up many
416900:07:07.646084 possibilities but goes beyond the neoclassical setting.. Returning.
417000:07:07.646091 clipXtConvertSelectionProc: returning, internal status code VINF_SUCCESS
417100:07:07.655789 clipXtConvertSelectionProc:
417200:07:07.655828 clipCreateX11Targets: called
417300:07:07.655839 clipXtConvertSelectionProc: returning, internal status code VINF_SUCCESS
417400:07:07.656569 clipXtConvertSelectionProc:
417500:07:07.656599 clipCreateX11Targets: called
417600:07:07.656610 clipXtConvertSelectionProc: returning, internal status code VINF_SUCCESS
417700:07:08.444683 clipXtConvertSelectionProc:
417800:07:08.444734 clipCreateX11Targets: called
417900:07:08.444747 clipXtConvertSelectionProc: returning, internal status code VINF_SUCCESS
418000:07:08.445621 clipXtConvertSelectionProc:
418100:07:08.445657 clipCreateX11Targets: called
418200:07:08.445669 clipXtConvertSelectionProc: returning, internal status code VINF_SUCCESS
418300:07:09.900845 clipXtConvertSelectionProc:
418400:07:09.900897 clipCreateX11Targets: called
418500:07:09.900910 clipXtConvertSelectionProc: returning, internal status code VINF_SUCCESS
418600:07:09.901511 clipXtConvertSelectionProc:
418700:07:09.901547 clipCreateX11Targets: called
418800:07:09.901559 clipXtConvertSelectionProc: returning, internal status code VINF_SUCCESS
418900:07:10.077191 clipXtConvertSelectionProc:
419000:07:10.077243 clipCreateX11Targets: called
419100:07:10.077256 clipXtConvertSelectionProc: returning, internal status code VINF_SUCCESS
419200:07:10.077868 clipXtConvertSelectionProc:
419300:07:10.077908 clipCreateX11Targets: called
419400:07:10.077921 clipXtConvertSelectionProc: returning, internal status code VINF_SUCCESS
419500:07:12.092997 clipXtConvertSelectionProc:
419600:07:12.093048 clipCreateX11Targets: called
419700:07:12.093061 clipXtConvertSelectionProc: returning, internal status code VINF_SUCCESS
419800:07:12.093713 clipXtConvertSelectionProc:
419900:07:12.093755 clipCreateX11Targets: called
420000:07:12.093767 clipXtConvertSelectionProc: returning, internal status code VINF_SUCCESS
420100:07:12.269184 clipXtConvertSelectionProc:
420200:07:12.269233 clipCreateX11Targets: called
420300:07:12.269246 clipXtConvertSelectionProc: returning, internal status code VINF_SUCCESS
420400:07:12.270034 clipXtConvertSelectionProc:
420500:07:12.270073 clipCreateX11Targets: called
420600:07:12.270085 clipXtConvertSelectionProc: returning, internal status code VINF_SUCCESS
420700:07:13.388795 clipXtConvertSelectionProc:
420800:07:13.388848 clipCreateX11Targets: called
420900:07:13.388862 clipXtConvertSelectionProc: returning, internal status code VINF_SUCCESS
421000:07:13.389300 clipXtConvertSelectionProc:
421100:07:13.389335 clipCreateX11Targets: called
421200:07:13.389348 clipXtConvertSelectionProc: returning, internal status code VINF_SUCCESS
421300:07:14.717641 clipXtConvertSelectionProc:
421400:07:14.717934 clipCreateX11Targets: called
421500:07:14.717990 clipXtConvertSelectionProc: returning, internal status code VINF_SUCCESS
421600:07:16.980619 clipXtConvertSelectionProc:
421700:07:16.980668 clipCreateX11Targets: called
421800:07:16.980681 clipXtConvertSelectionProc: returning, internal status code VINF_SUCCESS
421900:07:18.665534 clipXtConvertSelectionProc:
422000:07:18.665551 clipCreateX11Targets: called
422100:07:18.665555 clipXtConvertSelectionProc: returning, internal status code VINF_SUCCESS
422200:07:20.768868 clipXtConvertSelectionProc:
422300:07:20.768941 clipCreateX11Targets: called
422400:07:20.768954 clipXtConvertSelectionProc: returning, internal status code VINF_SUCCESS
422500:07:22.873188 clipXtConvertSelectionProc:
422600:07:22.873239 clipCreateX11Targets: called
422700:07:22.873251 clipXtConvertSelectionProc: returning, internal status code VINF_SUCCESS
422800:07:24.977637 clipXtConvertSelectionProc:
422900:07:24.977686 clipCreateX11Targets: called
423000:07:24.977698 clipXtConvertSelectionProc: returning, internal status code VINF_SUCCESS
423100:07:27.081159 clipXtConvertSelectionProc:
423200:07:27.081210 clipCreateX11Targets: called
423300:07:27.081222 clipXtConvertSelectionProc: returning, internal status code VINF_SUCCESS
423400:07:29.185802 clipXtConvertSelectionProc:
423500:07:29.185847 clipCreateX11Targets: called
423600:07:29.185859 clipXtConvertSelectionProc: returning, internal status code VINF_SUCCESS
423700:07:31.289766 clipXtConvertSelectionProc:
423800:07:31.289821 clipCreateX11Targets: called
423900:07:31.289834 clipXtConvertSelectionProc: returning, internal status code VINF_SUCCESS
424000:07:33.393317 clipXtConvertSelectionProc:
424100:07:33.393371 clipCreateX11Targets: called
424200:07:33.393383 clipXtConvertSelectionProc: returning, internal status code VINF_SUCCESS
424300:07:35.497338 clipXtConvertSelectionProc:
424400:07:35.497389 clipCreateX11Targets: called
424500:07:35.497401 clipXtConvertSelectionProc: returning, internal status code VINF_SUCCESS
424600:07:37.601514 clipXtConvertSelectionProc:
424700:07:37.601563 clipCreateX11Targets: called
424800:07:37.601575 clipXtConvertSelectionProc: returning, internal status code VINF_SUCCESS
424900:07:39.706361 clipXtConvertSelectionProc:
425000:07:39.706416 clipCreateX11Targets: called
425100:07:39.706429 clipXtConvertSelectionProc: returning, internal status code VINF_SUCCESS
425200:07:41.810785 clipXtConvertSelectionProc:
425300:07:41.810834 clipCreateX11Targets: called
425400:07:41.810846 clipXtConvertSelectionProc: returning, internal status code VINF_SUCCESS
425500:07:43.915847 clipXtConvertSelectionProc:
425600:07:43.916051 clipCreateX11Targets: called
425700:07:43.916131 clipXtConvertSelectionProc: returning, internal status code VINF_SUCCESS
425800:07:46.821213 clipXtConvertSelectionProc:
425900:07:46.821266 clipCreateX11Targets: called
426000:07:46.821279 clipXtConvertSelectionProc: returning, internal status code VINF_SUCCESS
426100:07:48.926165 clipXtConvertSelectionProc:
426200:07:48.926218 clipCreateX11Targets: called
426300:07:48.926232 clipXtConvertSelectionProc: returning, internal status code VINF_SUCCESS
426400:07:51.029625 clipXtConvertSelectionProc:
426500:07:51.029824 clipCreateX11Targets: called
426600:07:51.029903 clipXtConvertSelectionProc: returning, internal status code VINF_SUCCESS
426700:07:53.936259 clipXtConvertSelectionProc:
426800:07:53.936312 clipCreateX11Targets: called
426900:07:53.936325 clipXtConvertSelectionProc: returning, internal status code VINF_SUCCESS
427000:07:56.040154 clipXtConvertSelectionProc:
427100:07:56.040204 clipCreateX11Targets: called
427200:07:56.040216 clipXtConvertSelectionProc: returning, internal status code VINF_SUCCESS
427300:07:56.239308 svcCall: u32ClientID = 16, fn = 2, cParms = 1, pparms = -1404152088
427400:07:56.239359 svcCall: VBOX_SHARED_CLIPBOARD_FN_FORMATS
427500:07:56.239371 vboxClipboardFormatAnnounce: called. pClient=00007fc1b0005930, u32Formats=00
427600:07:56.239383 clipQueueToEventThread: proc=00007fc1c1947190, client_data=00007fc1a4012200
427700:07:56.239409 svcCall: rc = VINF_SUCCESS
427800:07:56.239438 clipNewVBoxFormatsWorker: u32Formats=0
427900:07:56.239875 clipNewVBoxFormatsWorker: returning
428000:07:56.239912 clipDrainWakeupPipe: called
428100:07:56.240407 clipXtConvertSelectionProc:
428200:07:56.240431 clipXtConvertSelectionProc: returning, internal status code VERR_NOT_SUPPORTED
428300:07:56.243887 clipXtConvertSelectionProc:
428400:07:56.243929 clipXtConvertSelectionProc: returning, internal status code VERR_NOT_SUPPORTED
428500:07:56.244140 clipXtConvertSelectionProc:
428600:07:56.244153 clipXtConvertSelectionProc: returning, internal status code VERR_NOT_SUPPORTED
428700:07:56.244497 clipXtConvertSelectionProc:
428800:07:56.244524 clipCreateX11Targets: called
428900:07:56.244533 clipXtConvertSelectionProc: returning, internal status code VINF_SUCCESS
429000:07:56.244673 clipXtConvertSelectionProc:
429100:07:56.244686 clipCreateX11Targets: called
429200:07:56.244692 clipXtConvertSelectionProc: returning, internal status code VINF_SUCCESS
429300:07:56.245131 clipXtConvertSelectionProc:
429400:07:56.245150 clipCreateX11Targets: called
429500:07:56.245158 clipXtConvertSelectionProc: returning, internal status code VINF_SUCCESS
429600:07:56.245572 clipXtConvertSelectionProc:
429700:07:56.245589 clipCreateX11Targets: called
429800:07:56.245597 clipXtConvertSelectionProc: returning, internal status code VINF_SUCCESS
429900:07:56.245909 clipXtConvertSelectionProc:
430000:07:56.245927 clipCreateX11Targets: called
430100:07:56.245934 clipXtConvertSelectionProc: returning, internal status code VINF_SUCCESS
430200:07:56.246053 clipXtConvertSelectionProc:
430300:07:56.246066 clipCreateX11Targets: called
430400:07:56.246073 clipXtConvertSelectionProc: returning, internal status code VINF_SUCCESS
430500:07:56.246182 clipXtConvertSelectionProc:
430600:07:56.246197 clipXtConvertSelectionProc: returning, internal status code VERR_NOT_SUPPORTED
430700:07:56.246262 clipXtConvertSelectionProc:
430800:07:56.246274 clipXtConvertSelectionProc: returning, internal status code VERR_NOT_SUPPORTED
430900:07:56.246580 clipXtConvertSelectionProc:
431000:07:56.246596 clipCreateX11Targets: called
431100:07:56.246604 clipXtConvertSelectionProc: returning, internal status code VINF_SUCCESS
431200:07:56.247177 clipXtConvertSelectionProc:
431300:07:56.247199 clipXtConvertSelectionProc: returning, internal status code VERR_NOT_SUPPORTED
431400:07:56.247917 clipXtConvertSelectionProc:
431500:07:56.247939 clipXtConvertSelectionProc: returning, internal status code VERR_NOT_SUPPORTED
431600:07:56.248013 clipXtConvertSelectionProc:
431700:07:56.248025 clipXtConvertSelectionProc: returning, internal status code VERR_NOT_SUPPORTED
431800:07:56.248301 clipXtConvertSelectionProc:
431900:07:56.248328 clipCreateX11Targets: called
432000:07:56.248337 clipXtConvertSelectionProc: returning, internal status code VINF_SUCCESS
432100:07:56.248655 clipXtConvertSelectionProc:
432200:07:56.248672 clipXtConvertSelectionProc: returning, internal status code VERR_NOT_SUPPORTED
432300:07:56.248780 clipXtConvertSelectionProc:
432400:07:56.248792 clipXtConvertSelectionProc: returning, internal status code VERR_NOT_SUPPORTED
432500:07:56.248860 clipXtConvertSelectionProc:
432600:07:56.248871 clipXtConvertSelectionProc: returning, internal status code VERR_NOT_SUPPORTED
432700:07:56.249019 clipXtConvertSelectionProc:
432800:07:56.249037 clipXtConvertSelectionProc: returning, internal status code VERR_NOT_SUPPORTED
432900:07:56.249301 clipXtConvertSelectionProc:
433000:07:56.249313 clipXtConvertSelectionProc: returning, internal status code VERR_NOT_SUPPORTED
433100:07:56.249524 clipXtConvertSelectionProc:
433200:07:56.249536 clipXtConvertSelectionProc: returning, internal status code VERR_NOT_SUPPORTED
433300:07:56.249663 clipXtConvertSelectionProc:
433400:07:56.249676 clipXtConvertSelectionProc: returning, internal status code VERR_NOT_SUPPORTED
433500:07:56.249797 clipXtConvertSelectionProc:
433600:07:56.249810 clipXtConvertSelectionProc: returning, internal status code VERR_NOT_SUPPORTED
433700:07:56.249903 clipXtConvertSelectionProc:
433800:07:56.249915 clipXtConvertSelectionProc: returning, internal status code VERR_NOT_SUPPORTED
433900:07:56.258444 svcCall: u32ClientID = 16, fn = 2, cParms = 1, pparms = -1404152088
434000:07:56.258493 svcCall: VBOX_SHARED_CLIPBOARD_FN_FORMATS
434100:07:56.258501 vboxClipboardFormatAnnounce: called. pClient=00007fc1b0005930, u32Formats=01
434200:07:56.258513 clipQueueToEventThread: proc=00007fc1c1947190, client_data=00007fc1a4012200
434300:07:56.258540 svcCall: rc = VINF_SUCCESS
434400:07:56.258597 clipNewVBoxFormatsWorker: u32Formats=1
434500:07:56.258617 clipNewVBoxFormatsWorker: returning
434600:07:56.258672 clipDrainWakeupPipe: called
434700:07:56.259162 clipXtConvertSelectionProc:
434800:07:56.259181 clipReadVBoxClipboard: pCtx=00007fc1a4001bc0, u32Format=01, ppv=00007fc18c1678a8, pcb=00007fc18c1678a4
434900:07:56.259193 ClipRequestDataForX11: pCtx=00007fc1a4001af0, u32Format=01, ppv=00007fc1a4001c00, pcb=00007fc1a4001c08
435000:07:56.259205 clipRequestDataFromVBox: pCtx=00007fc1a4001af0, pReq=00007fc18c1677d0, u32Format=01
435100:07:56.259214 clipWaitForDataFromVBox: pCtx=00007fc1a4001af0, pReq=00007fc18c1677d0, u32Format=01
435200:07:56.259222 vboxSvcClipboardReportMsg: ReadData 01
435300:07:56.259229 vboxSvcClipboardReturnMsg: ReadData 01
435400:07:56.259235 vboxSvcClipboardReportMsg: CallComplete
435500:07:56.259364 svcCall: u32ClientID = 16, fn = 2, cParms = 1, pparms = -1404177352
435600:07:56.259379 svcCall: VBOX_SHARED_CLIPBOARD_FN_FORMATS
435700:07:56.259385 vboxClipboardFormatAnnounce: called. pClient=00007fc1b0005930, u32Formats=01
435800:07:56.259395 clipQueueToEventThread: proc=00007fc1c1947190, client_data=00007fc1a4012200
435900:08:01.259396 clipWaitForDataFromVBox: returning VERR_TIMEOUT
436000:08:01.259449 clipRequestDataFromVBox: returning VERR_TIMEOUT
436100:08:01.259469 ClipRequestDataForX11: returning VERR_TIMEOUT
436200:08:01.259477 clipReadVBoxClipboard: returning VERR_TIMEOUT
436300:08:01.259484 clipXtConvertSelectionProc: returning, internal status code VERR_TIMEOUT
436400:08:01.259753 clipXtConvertSelectionProc:
436500:08:01.259791 clipReadVBoxClipboard: pCtx=00007fc1a4001bc0, u32Format=01, ppv=00007fc18c1678a8, pcb=00007fc18c1678a4
436600:08:01.259807 ClipRequestDataForX11: pCtx=00007fc1a4001af0, u32Format=01, ppv=00007fc1a4001c00, pcb=00007fc1a4001c08
436700:08:01.259819 clipRequestDataFromVBox: pCtx=00007fc1a4001af0, pReq=00007fc18c1677d0, u32Format=01
436800:08:01.259829 clipWaitForDataFromVBox: pCtx=00007fc1a4001af0, pReq=00007fc18c1677d0, u32Format=01
436900:08:01.259837 vboxSvcClipboardReportMsg: ReadData 01
437000:08:06.259976 clipWaitForDataFromVBox: returning VERR_TIMEOUT
437100:08:06.260025 clipRequestDataFromVBox: returning VERR_TIMEOUT
437200:08:06.260037 ClipRequestDataForX11: returning VERR_TIMEOUT
437300:08:06.260045 clipReadVBoxClipboard: returning VERR_TIMEOUT
437400:08:06.260061 clipXtConvertSelectionProc: returning, internal status code VERR_TIMEOUT
437500:08:06.260312 clipXtConvertSelectionProc:
437600:08:06.260349 clipCreateX11Targets: called
437700:08:06.260362 clipXtConvertSelectionProc: returning, internal status code VINF_SUCCESS
437800:08:06.260600 clipXtConvertSelectionProc:
437900:08:06.260633 clipCreateX11Targets: called
438000:08:06.260643 clipXtConvertSelectionProc: returning, internal status code VINF_SUCCESS
438100:08:06.260979 clipXtConvertSelectionProc:
438200:08:06.260993 clipCreateX11Targets: called
438300:08:06.261002 clipXtConvertSelectionProc: returning, internal status code VINF_SUCCESS
438400:08:06.261168 clipXtConvertSelectionProc:
438500:08:06.261181 clipCreateX11Targets: called
438600:08:06.261190 clipXtConvertSelectionProc: returning, internal status code VINF_SUCCESS
438700:08:06.261317 clipXtConvertSelectionProc:
438800:08:06.261328 clipCreateX11Targets: called
438900:08:06.261336 clipXtConvertSelectionProc: returning, internal status code VINF_SUCCESS
439000:08:06.261490 clipXtConvertSelectionProc:
439100:08:06.261504 clipCreateX11Targets: called
439200:08:06.261512 clipXtConvertSelectionProc: returning, internal status code VINF_SUCCESS
439300:08:06.261836 clipXtConvertSelectionProc:
439400:08:06.261848 clipCreateX11Targets: called
439500:08:06.261856 clipXtConvertSelectionProc: returning, internal status code VINF_SUCCESS
439600:08:06.262199 clipXtConvertSelectionProc:
439700:08:06.262213 clipCreateX11Targets: called
439800:08:06.262222 clipXtConvertSelectionProc: returning, internal status code VINF_SUCCESS
439900:08:06.262936 clipXtConvertSelectionProc:
440000:08:06.262958 clipCreateX11Targets: called
440100:08:06.262966 clipXtConvertSelectionProc: returning, internal status code VINF_SUCCESS
440200:08:06.263237 clipXtConvertSelectionProc:
440300:08:06.263253 clipXtConvertSelectionProc: returning, internal status code VERR_NOT_SUPPORTED
440400:08:06.263497 clipXtConvertSelectionProc:
440500:08:06.263526 clipCreateX11Targets: called
440600:08:06.263538 clipXtConvertSelectionProc: returning, internal status code VINF_SUCCESS
440700:08:06.263821 clipXtConvertSelectionProc:
440800:08:06.263850 clipXtConvertSelectionProc: returning, internal status code VERR_NOT_SUPPORTED
440900:08:06.264118 clipXtConvertSelectionProc:
441000:08:06.264133 clipReadVBoxClipboard: pCtx=00007fc1a4001bc0, u32Format=01, ppv=00007fc18c1678a8, pcb=00007fc18c1678a4
441100:08:06.264146 ClipRequestDataForX11: pCtx=00007fc1a4001af0, u32Format=01, ppv=00007fc1a4001c00, pcb=00007fc1a4001c08
441200:08:06.264158 clipRequestDataFromVBox: pCtx=00007fc1a4001af0, pReq=00007fc18c1677d0, u32Format=01
441300:08:06.264168 clipWaitForDataFromVBox: pCtx=00007fc1a4001af0, pReq=00007fc18c1677d0, u32Format=01
441400:08:06.264176 vboxSvcClipboardReportMsg: ReadData 01
441500:08:11.264264 clipWaitForDataFromVBox: returning VERR_TIMEOUT
441600:08:11.264326 clipRequestDataFromVBox: returning VERR_TIMEOUT
441700:08:11.264341 ClipRequestDataForX11: returning VERR_TIMEOUT
441800:08:11.264367 clipReadVBoxClipboard: returning VERR_TIMEOUT
441900:08:11.264378 clipXtConvertSelectionProc: returning, internal status code VERR_TIMEOUT
442000:08:11.264734 clipXtConvertSelectionProc:
442100:08:11.264781 clipReadVBoxClipboard: pCtx=00007fc1a4001bc0, u32Format=01, ppv=00007fc18c1678a8, pcb=00007fc18c1678a4
442200:08:11.264798 ClipRequestDataForX11: pCtx=00007fc1a4001af0, u32Format=01, ppv=00007fc1a4001c00, pcb=00007fc1a4001c08
442300:08:11.264812 clipRequestDataFromVBox: pCtx=00007fc1a4001af0, pReq=00007fc18c1677d0, u32Format=01
442400:08:11.264823 clipWaitForDataFromVBox: pCtx=00007fc1a4001af0, pReq=00007fc18c1677d0, u32Format=01
442500:08:11.264832 vboxSvcClipboardReportMsg: ReadData 01
442600:08:16.264934 clipWaitForDataFromVBox: returning VERR_TIMEOUT
442700:08:16.264987 clipRequestDataFromVBox: returning VERR_TIMEOUT
442800:08:16.265000 ClipRequestDataForX11: returning VERR_TIMEOUT
442900:08:16.265022 clipReadVBoxClipboard: returning VERR_TIMEOUT
443000:08:16.265030 clipXtConvertSelectionProc: returning, internal status code VERR_TIMEOUT
443100:08:16.265284 clipXtConvertSelectionProc:
443200:08:16.265321 clipCreateX11Targets: called
443300:08:16.265334 clipXtConvertSelectionProc: returning, internal status code VINF_SUCCESS
443400:08:16.265799 clipXtConvertSelectionProc:
443500:08:16.265834 clipXtConvertSelectionProc: returning, internal status code VERR_NOT_SUPPORTED
443600:08:16.265962 clipXtConvertSelectionProc:
443700:08:16.265978 clipCreateX11Targets: called
443800:08:16.265989 clipXtConvertSelectionProc: returning, internal status code VINF_SUCCESS
443900:08:16.266284 clipXtConvertSelectionProc:
444000:08:16.266314 clipXtConvertSelectionProc: returning, internal status code VERR_NOT_SUPPORTED
444100:08:16.266610 svcCall: rc = VINF_SUCCESS
444200:08:16.266740 svcCall: u32ClientID = 16, fn = 1, cParms = 2, pparms = -1404178152
444300:08:16.266756 svcCall: VBOX_SHARED_CLIPBOARD_FN_GET_HOST_MSG
444400:08:16.266764 vboxSvcClipboardReturnMsg: ReadData 01
444500:08:16.266771 svcCall: rc = VINF_SUCCESS
444600:08:16.266798 clipNewVBoxFormatsWorker: u32Formats=1
444700:08:16.266826 clipNewVBoxFormatsWorker: returning
444800:08:16.266849 clipDrainWakeupPipe: called
444900:08:16.266881 clipXtConvertSelectionProc:
445000:08:16.266890 clipCreateX11Targets: called
445100:08:16.266899 clipXtConvertSelectionProc: returning, internal status code VINF_SUCCESS
445200:08:16.267146 clipXtConvertSelectionProc:
445300:08:16.267163 clipReadVBoxClipboard: pCtx=00007fc1a4001bc0, u32Format=01, ppv=00007fc18c1678a8, pcb=00007fc18c1678a4
445400:08:16.267177 ClipRequestDataForX11: pCtx=00007fc1a4001af0, u32Format=01, ppv=00007fc1a4001c00, pcb=00007fc1a4001c08
445500:08:16.267189 clipRequestDataFromVBox: pCtx=00007fc1a4001af0, pReq=00007fc18c1677d0, u32Format=01
445600:08:16.267199 clipWaitForDataFromVBox: pCtx=00007fc1a4001af0, pReq=00007fc18c1677d0, u32Format=01
445700:08:16.267209 vboxSvcClipboardReportMsg: ReadData 01
445800:08:16.267488 svcCall: u32ClientID = 16, fn = 2, cParms = 1, pparms = -1404177352
445900:08:16.267517 svcCall: VBOX_SHARED_CLIPBOARD_FN_FORMATS
446000:08:16.267527 vboxClipboardFormatAnnounce: called. pClient=00007fc1b0005930, u32Formats=01
446100:08:16.267555 clipQueueToEventThread: proc=00007fc1c1947190, client_data=00007fc1a4012200
446200:08:21.267307 clipWaitForDataFromVBox: returning VERR_TIMEOUT
446300:08:21.267357 clipRequestDataFromVBox: returning VERR_TIMEOUT
446400:08:21.267370 ClipRequestDataForX11: returning VERR_TIMEOUT
446500:08:21.267378 clipReadVBoxClipboard: returning VERR_TIMEOUT
446600:08:21.267403 clipXtConvertSelectionProc: returning, internal status code VERR_TIMEOUT
446700:08:21.267757 clipXtConvertSelectionProc:
446800:08:21.267797 clipReadVBoxClipboard: pCtx=00007fc1a4001bc0, u32Format=01, ppv=00007fc18c1678a8, pcb=00007fc18c1678a4
446900:08:21.267812 ClipRequestDataForX11: pCtx=00007fc1a4001af0, u32Format=01, ppv=00007fc1a4001c00, pcb=00007fc1a4001c08
447000:08:21.267825 clipRequestDataFromVBox: pCtx=00007fc1a4001af0, pReq=00007fc18c1677d0, u32Format=01
447100:08:21.267835 clipWaitForDataFromVBox: pCtx=00007fc1a4001af0, pReq=00007fc18c1677d0, u32Format=01
447200:08:21.267843 vboxSvcClipboardReportMsg: ReadData 01
447300:08:26.267982 clipWaitForDataFromVBox: returning VERR_TIMEOUT
447400:08:26.268033 clipRequestDataFromVBox: returning VERR_TIMEOUT
447500:08:26.268045 ClipRequestDataForX11: returning VERR_TIMEOUT
447600:08:26.268059 clipReadVBoxClipboard: returning VERR_TIMEOUT
447700:08:26.268077 clipXtConvertSelectionProc: returning, internal status code VERR_TIMEOUT
447800:08:26.268459 clipXtConvertSelectionProc:
447900:08:26.268496 clipCreateX11Targets: called
448000:08:26.268508 clipXtConvertSelectionProc: returning, internal status code VINF_SUCCESS
448100:08:26.268630 clipXtConvertSelectionProc:
448200:08:26.268647 clipCreateX11Targets: called
448300:08:26.268656 clipXtConvertSelectionProc: returning, internal status code VINF_SUCCESS
448400:08:26.268899 clipXtConvertSelectionProc:
448500:08:26.268929 clipCreateX11Targets: called
448600:08:26.268940 clipXtConvertSelectionProc: returning, internal status code VINF_SUCCESS
448700:08:26.269121 clipXtConvertSelectionProc:
448800:08:26.269134 clipCreateX11Targets: called
448900:08:26.269143 clipXtConvertSelectionProc: returning, internal status code VINF_SUCCESS
449000:08:26.269331 clipXtConvertSelectionProc:
449100:08:26.269357 clipCreateX11Targets: called
449200:08:26.269368 clipXtConvertSelectionProc: returning, internal status code VINF_SUCCESS
449300:08:26.269554 clipXtConvertSelectionProc:
449400:08:26.269566 clipCreateX11Targets: called
449500:08:26.269575 clipXtConvertSelectionProc: returning, internal status code VINF_SUCCESS
449600:08:26.269681 clipXtConvertSelectionProc:
449700:08:26.269691 clipCreateX11Targets: called
449800:08:26.269699 clipXtConvertSelectionProc: returning, internal status code VINF_SUCCESS
449900:08:26.269787 clipXtConvertSelectionProc:
450000:08:26.269796 clipCreateX11Targets: called
450100:08:26.269805 clipXtConvertSelectionProc: returning, internal status code VINF_SUCCESS
450200:08:26.270044 clipXtConvertSelectionProc:
450300:08:26.270057 clipCreateX11Targets: called
450400:08:26.270065 clipXtConvertSelectionProc: returning, internal status code VINF_SUCCESS
450500:08:26.270343 clipXtConvertSelectionProc:
450600:08:26.270359 clipCreateX11Targets: called
450700:08:26.270367 clipXtConvertSelectionProc: returning, internal status code VINF_SUCCESS
450800:08:26.270467 clipXtConvertSelectionProc:
450900:08:26.270480 clipXtConvertSelectionProc: returning, internal status code VERR_NOT_SUPPORTED
451000:08:26.270644 svcCall: rc = VINF_SUCCESS
451100:08:26.270795 clipXtConvertSelectionProc:
451200:08:26.270813 clipCreateX11Targets: called
451300:08:26.270832 svcCall: u32ClientID = 16, fn = 1, cParms = 2, pparms = -1404177480
451400:08:26.270904 svcCall: VBOX_SHARED_CLIPBOARD_FN_GET_HOST_MSG
451500:08:26.270917 vboxSvcClipboardReturnMsg: ReadData 01
451600:08:26.270929 svcCall: rc = VINF_SUCCESS
451700:08:26.270947 clipXtConvertSelectionProc: returning, internal status code VINF_SUCCESS
451800:08:26.271215 clipNewVBoxFormatsWorker: u32Formats=1
451900:08:26.271238 clipNewVBoxFormatsWorker: returning
452000:08:26.271246 clipDrainWakeupPipe: called
452100:08:26.271266 clipXtConvertSelectionProc:
452200:08:26.271273 clipCreateX11Targets: called
452300:08:26.271281 clipXtConvertSelectionProc: returning, internal status code VINF_SUCCESS
452400:08:26.271526 clipXtConvertSelectionProc:
452500:08:26.271574 clipXtConvertSelectionProc: returning, internal status code VERR_NOT_SUPPORTED
452600:08:26.271736 svcCall: u32ClientID = 16, fn = 2, cParms = 1, pparms = -1404177352
452700:08:26.271758 svcCall: VBOX_SHARED_CLIPBOARD_FN_FORMATS
452800:08:26.271765 vboxClipboardFormatAnnounce: called. pClient=00007fc1b0005930, u32Formats=01
452900:08:26.271776 clipQueueToEventThread: proc=00007fc1c1947190, client_data=00007fc1a4012200
453000:08:26.271810 clipXtConvertSelectionProc:
453100:08:26.271826 clipReadVBoxClipboard: pCtx=00007fc1a4001bc0, u32Format=01, ppv=00007fc18c1678a8, pcb=00007fc18c1678a4
453200:08:26.271839 ClipRequestDataForX11: pCtx=00007fc1a4001af0, u32Format=01, ppv=00007fc1a4001c00, pcb=00007fc1a4001c08
453300:08:26.271851 clipRequestDataFromVBox: pCtx=00007fc1a4001af0, pReq=00007fc18c1677d0, u32Format=01
453400:08:26.271860 clipWaitForDataFromVBox: pCtx=00007fc1a4001af0, pReq=00007fc18c1677d0, u32Format=01
453500:08:26.271868 vboxSvcClipboardReportMsg: ReadData 01
453600:08:31.271969 clipWaitForDataFromVBox: returning VERR_TIMEOUT
453700:08:31.272019 clipRequestDataFromVBox: returning VERR_TIMEOUT
453800:08:31.272031 ClipRequestDataForX11: returning VERR_TIMEOUT
453900:08:31.272039 clipReadVBoxClipboard: returning VERR_TIMEOUT
454000:08:31.272064 clipXtConvertSelectionProc: returning, internal status code VERR_TIMEOUT
454100:08:31.272409 clipXtConvertSelectionProc:
454200:08:31.272444 clipReadVBoxClipboard: pCtx=00007fc1a4001bc0, u32Format=01, ppv=00007fc18c1678a8, pcb=00007fc18c1678a4
454300:08:31.272460 ClipRequestDataForX11: pCtx=00007fc1a4001af0, u32Format=01, ppv=00007fc1a4001c00, pcb=00007fc1a4001c08
454400:08:31.272473 clipRequestDataFromVBox: pCtx=00007fc1a4001af0, pReq=00007fc18c1677d0, u32Format=01
454500:08:31.272483 clipWaitForDataFromVBox: pCtx=00007fc1a4001af0, pReq=00007fc18c1677d0, u32Format=01
454600:08:31.272492 vboxSvcClipboardReportMsg: ReadData 01
454700:08:36.272590 clipWaitForDataFromVBox: returning VERR_TIMEOUT
454800:08:36.272642 clipRequestDataFromVBox: returning VERR_TIMEOUT
454900:08:36.272664 ClipRequestDataForX11: returning VERR_TIMEOUT
455000:08:36.272680 clipReadVBoxClipboard: returning VERR_TIMEOUT
455100:08:36.272688 clipXtConvertSelectionProc: returning, internal status code VERR_TIMEOUT
455200:08:36.272988 clipXtConvertSelectionProc:
455300:08:36.273025 clipReadVBoxClipboard: pCtx=00007fc1a4001bc0, u32Format=01, ppv=00007fc18c1678a8, pcb=00007fc18c1678a4
455400:08:36.273041 ClipRequestDataForX11: pCtx=00007fc1a4001af0, u32Format=01, ppv=00007fc1a4001c00, pcb=00007fc1a4001c08
455500:08:36.273054 clipRequestDataFromVBox: pCtx=00007fc1a4001af0, pReq=00007fc18c1677d0, u32Format=01
455600:08:36.273063 clipWaitForDataFromVBox: pCtx=00007fc1a4001af0, pReq=00007fc18c1677d0, u32Format=01
455700:08:36.273072 vboxSvcClipboardReportMsg: ReadData 01
455800:08:41.273169 clipWaitForDataFromVBox: returning VERR_TIMEOUT
455900:08:41.273218 clipRequestDataFromVBox: returning VERR_TIMEOUT
456000:08:41.273231 ClipRequestDataForX11: returning VERR_TIMEOUT
456100:08:41.273239 clipReadVBoxClipboard: returning VERR_TIMEOUT
456200:08:41.273256 clipXtConvertSelectionProc: returning, internal status code VERR_TIMEOUT
456300:08:41.274069 clipXtConvertSelectionProc:
456400:08:41.274106 clipReadVBoxClipboard: pCtx=00007fc1a4001bc0, u32Format=01, ppv=00007fc18c1678a8, pcb=00007fc18c1678a4
456500:08:41.274123 ClipRequestDataForX11: pCtx=00007fc1a4001af0, u32Format=01, ppv=00007fc1a4001c00, pcb=00007fc1a4001c08
456600:08:41.274135 clipRequestDataFromVBox: pCtx=00007fc1a4001af0, pReq=00007fc18c1677d0, u32Format=01
456700:08:41.274145 clipWaitForDataFromVBox: pCtx=00007fc1a4001af0, pReq=00007fc18c1677d0, u32Format=01
456800:08:41.274154 vboxSvcClipboardReportMsg: ReadData 01
456900:08:46.274292 clipWaitForDataFromVBox: returning VERR_TIMEOUT
457000:08:46.274346 clipRequestDataFromVBox: returning VERR_TIMEOUT
457100:08:46.274359 ClipRequestDataForX11: returning VERR_TIMEOUT
457200:08:46.274378 clipReadVBoxClipboard: returning VERR_TIMEOUT
457300:08:46.274387 clipXtConvertSelectionProc: returning, internal status code VERR_TIMEOUT
457400:08:46.274614 clipXtConvertSelectionProc:
457500:08:46.274677 clipReadVBoxClipboard: pCtx=00007fc1a4001bc0, u32Format=01, ppv=00007fc18c1678a8, pcb=00007fc18c1678a4
457600:08:46.274717 ClipRequestDataForX11: pCtx=00007fc1a4001af0, u32Format=01, ppv=00007fc1a4001c00, pcb=00007fc1a4001c08
457700:08:46.274731 clipRequestDataFromVBox: pCtx=00007fc1a4001af0, pReq=00007fc18c1677d0, u32Format=01
457800:08:46.274741 clipWaitForDataFromVBox: pCtx=00007fc1a4001af0, pReq=00007fc18c1677d0, u32Format=01
457900:08:46.274750 vboxSvcClipboardReportMsg: ReadData 01
458000:08:51.274898 clipWaitForDataFromVBox: returning VERR_TIMEOUT
458100:08:51.274949 clipRequestDataFromVBox: returning VERR_TIMEOUT
458200:08:51.274961 ClipRequestDataForX11: returning VERR_TIMEOUT
458300:08:51.274989 clipReadVBoxClipboard: returning VERR_TIMEOUT
458400:08:51.275007 clipXtConvertSelectionProc: returning, internal status code VERR_TIMEOUT
458500:08:51.275262 clipXtConvertSelectionProc:
458600:08:51.275285 clipReadVBoxClipboard: pCtx=00007fc1a4001bc0, u32Format=01, ppv=00007fc18c1678a8, pcb=00007fc18c1678a4
458700:08:51.275299 ClipRequestDataForX11: pCtx=00007fc1a4001af0, u32Format=01, ppv=00007fc1a4001c00, pcb=00007fc1a4001c08
458800:08:51.275312 clipRequestDataFromVBox: pCtx=00007fc1a4001af0, pReq=00007fc18c1677d0, u32Format=01
458900:08:51.275321 clipWaitForDataFromVBox: pCtx=00007fc1a4001af0, pReq=00007fc18c1677d0, u32Format=01
459000:08:51.275330 vboxSvcClipboardReportMsg: ReadData 01
459100:08:56.275450 clipWaitForDataFromVBox: returning VERR_TIMEOUT
459200:08:56.275667 clipRequestDataFromVBox: returning VERR_TIMEOUT
459300:08:56.275792 ClipRequestDataForX11: returning VERR_TIMEOUT
459400:08:56.275839 clipReadVBoxClipboard: returning VERR_TIMEOUT
459500:08:56.275859 clipXtConvertSelectionProc: returning, internal status code VERR_TIMEOUT
459600:08:56.276140 clipXtConvertSelectionProc:
459700:08:56.276171 clipReadVBoxClipboard: pCtx=00007fc1a4001bc0, u32Format=01, ppv=00007fc18c1678a8, pcb=00007fc18c1678a4
459800:08:56.276184 ClipRequestDataForX11: pCtx=00007fc1a4001af0, u32Format=01, ppv=00007fc1a4001c00, pcb=00007fc1a4001c08
459900:08:56.276197 clipRequestDataFromVBox: pCtx=00007fc1a4001af0, pReq=00007fc18c1677d0, u32Format=01
460000:08:56.276206 clipWaitForDataFromVBox: pCtx=00007fc1a4001af0, pReq=00007fc18c1677d0, u32Format=01
460100:08:56.276214 vboxSvcClipboardReportMsg: ReadData 01
460200:09:01.276276 clipWaitForDataFromVBox: returning VERR_TIMEOUT
460300:09:01.276328 clipRequestDataFromVBox: returning VERR_TIMEOUT
460400:09:01.276341 ClipRequestDataForX11: returning VERR_TIMEOUT
460500:09:01.276351 clipReadVBoxClipboard: returning VERR_TIMEOUT
460600:09:01.276371 clipXtConvertSelectionProc: returning, internal status code VERR_TIMEOUT
460700:09:01.276612 clipXtConvertSelectionProc:
460800:09:01.276633 clipCreateX11Targets: called
460900:09:01.276644 clipXtConvertSelectionProc: returning, internal status code VINF_SUCCESS
461000:09:01.277012 svcCall: rc = VINF_SUCCESS
461100:09:01.277062 clipNewVBoxFormatsWorker: u32Formats=1
461200:09:01.277121 svcCall: u32ClientID = 16, fn = 1, cParms = 2, pparms = -1404177480
461300:09:01.277155 clipNewVBoxFormatsWorker: returning
461400:09:01.277173 svcCall: VBOX_SHARED_CLIPBOARD_FN_GET_HOST_MSG
461500:09:01.277182 clipDrainWakeupPipe: called
461600:09:01.277207 vboxSvcClipboardReturnMsg: ReadData 01
461700:09:01.277217 clipXtConvertSelectionProc:
461800:09:01.277226 svcCall: rc = VINF_SUCCESS
461900:09:01.277252 clipCreateX11Targets: called
462000:09:01.277263 clipXtConvertSelectionProc: returning, internal status code VINF_SUCCESS
462100:09:01.277644 svcCall: u32ClientID = 16, fn = 2, cParms = 1, pparms = -1404177352
462200:09:01.277662 svcCall: VBOX_SHARED_CLIPBOARD_FN_FORMATS
462300:09:01.277669 vboxClipboardFormatAnnounce: called. pClient=00007fc1b0005930, u32Formats=01
462400:09:01.277679 clipQueueToEventThread: proc=00007fc1c1947190, client_data=00007fc1a4012200
462500:09:01.278443 clipXtConvertSelectionProc:
462600:09:01.278465 clipCreateX11Targets: called
462700:09:01.278474 clipXtConvertSelectionProc: returning, internal status code VINF_SUCCESS
462800:09:01.278895 clipXtConvertSelectionProc:
462900:09:01.278915 clipCreateX11Targets: called
463000:09:01.278924 clipXtConvertSelectionProc: returning, internal status code VINF_SUCCESS
463100:09:01.280491 svcCall: rc = VINF_SUCCESS
463200:09:01.280525 clipNewVBoxFormatsWorker: u32Formats=1
463300:09:01.280578 svcCall: u32ClientID = 16, fn = 1, cParms = 2, pparms = -1404177480
463400:09:01.280612 clipNewVBoxFormatsWorker: returning
463500:09:01.280627 svcCall: VBOX_SHARED_CLIPBOARD_FN_GET_HOST_MSG
463600:09:01.280636 clipDrainWakeupPipe: called
463700:09:01.280660 vboxSvcClipboardReturnMsg: no message
463800:09:01.280669 clipXtConvertSelectionProc:
463900:09:01.280678 svcCall: async.
464000:09:01.280686 clipCreateX11Targets: called
464100:09:01.280697 svcCall: rc = VINF_SUCCESS
464200:09:01.280713 clipXtConvertSelectionProc: returning, internal status code VINF_SUCCESS
464300:09:01.281077 svcCall: u32ClientID = 16, fn = 4, cParms = 2, pparms = -1404178152
464400:09:01.281097 svcCall: VBOX_SHARED_CLIPBOARD_FN_WRITE_DATA
464500:09:01.281104 vboxClipboardWriteData: called. pClient=00007fc1b0005930, pv=00007fc1ac4df148 (It is unclear how much the behaviour of major market participants, such as institutional investors and delegated money managers, is related to consumption.), cb=312, u32Format=01
464600:09:01.281126 svcCall: rc = VINF_SUCCESS
464700:09:01.282120 svcCall: u32ClientID = 16, fn = 4, cParms = 2, pparms = -1404178152
464800:09:01.282141 svcCall: VBOX_SHARED_CLIPBOARD_FN_WRITE_DATA
464900:09:01.282148 vboxClipboardWriteData: called. pClient=00007fc1b0005930, pv=00007fc1ac4df148 (It is unclear how much the behaviour of major market participants, such as institutional investors and delegated money managers, is related to consumption.), cb=312, u32Format=01
465000:09:01.282168 svcCall: rc = VINF_SUCCESS
465100:09:01.282690 svcCall: u32ClientID = 16, fn = 4, cParms = 2, pparms = -1404178152
465200:09:01.282710 svcCall: VBOX_SHARED_CLIPBOARD_FN_WRITE_DATA
465300:09:01.282717 vboxClipboardWriteData: called. pClient=00007fc1b0005930, pv=00007fc1ac4df148 (It is unclear how much the behaviour of major market participants, such as institutional investors and delegated money managers, is related to consumption.), cb=312, u32Format=01
465400:09:01.282736 svcCall: rc = VINF_SUCCESS
465500:09:01.282991 clipXtConvertSelectionProc:
465600:09:01.283017 clipCreateX11Targets: called
465700:09:01.283028 clipXtConvertSelectionProc: returning, internal status code VINF_SUCCESS
465800:09:01.283175 svcCall: u32ClientID = 16, fn = 4, cParms = 2, pparms = -1404178152
465900:09:01.283193 svcCall: VBOX_SHARED_CLIPBOARD_FN_WRITE_DATA
466000:09:01.283200 vboxClipboardWriteData: called. pClient=00007fc1b0005930, pv=00007fc1ac4df148 (It is unclear how much the behaviour of major market participants, such as institutional investors and delegated money managers, is related to consumption.), cb=312, u32Format=01
466100:09:01.283219 svcCall: rc = VINF_SUCCESS
466200:09:01.283489 clipXtConvertSelectionProc:
466300:09:01.283507 clipCreateX11Targets: called
466400:09:01.283516 clipXtConvertSelectionProc: returning, internal status code VINF_SUCCESS
466500:09:01.283620 clipXtConvertSelectionProc:
466600:09:01.283631 clipCreateX11Targets: called
466700:09:01.283639 clipXtConvertSelectionProc: returning, internal status code VINF_SUCCESS
466800:09:01.284485 clipXtConvertSelectionProc:
466900:09:01.284511 clipCreateX11Targets: called
467000:09:01.284521 clipXtConvertSelectionProc: returning, internal status code VINF_SUCCESS
467100:09:01.284721 clipXtConvertSelectionProc:
467200:09:01.284733 clipXtConvertSelectionProc: returning, internal status code VERR_NOT_SUPPORTED
467300:09:01.286180 clipXtConvertSelectionProc:
467400:09:01.286192 clipCreateX11Targets: called
467500:09:01.286201 clipXtConvertSelectionProc: returning, internal status code VINF_SUCCESS
467600:09:01.286928 clipXtConvertSelectionProc:
467700:09:01.286945 clipCreateX11Targets: called
467800:09:01.286953 clipXtConvertSelectionProc: returning, internal status code VINF_SUCCESS
467900:09:01.287110 clipXtConvertSelectionProc:
468000:09:01.287121 clipCreateX11Targets: called
468100:09:01.287129 clipXtConvertSelectionProc: returning, internal status code VINF_SUCCESS
468200:09:01.287264 clipXtConvertSelectionProc:
468300:09:01.287275 clipCreateX11Targets: called
468400:09:01.287283 clipXtConvertSelectionProc: returning, internal status code VINF_SUCCESS
468500:09:01.287565 clipXtConvertSelectionProc:
468600:09:01.287579 clipCreateX11Targets: called
468700:09:01.287587 clipXtConvertSelectionProc: returning, internal status code VINF_SUCCESS
468800:09:01.287749 clipXtConvertSelectionProc:
468900:09:01.287760 clipCreateX11Targets: called
469000:09:01.287768 clipXtConvertSelectionProc: returning, internal status code VINF_SUCCESS
469100:09:01.287920 clipXtConvertSelectionProc:
469200:09:01.287935 clipXtConvertSelectionProc: returning, internal status code VERR_NOT_SUPPORTED
469300:09:01.288149 clipXtConvertSelectionProc:
469400:09:01.288175 clipXtConvertSelectionProc: returning, internal status code VERR_NOT_SUPPORTED
469500:09:01.290500 clipXtConvertSelectionProc:
469600:09:01.290524 clipCreateX11Targets: called
469700:09:01.290534 clipXtConvertSelectionProc: returning, internal status code VINF_SUCCESS
469800:09:01.290885 clipXtConvertSelectionProc:
469900:09:01.290905 clipCreateX11Targets: called
470000:09:01.290914 clipXtConvertSelectionProc: returning, internal status code VINF_SUCCESS
470100:09:01.291115 clipXtConvertSelectionProc:
470200:09:01.291139 clipXtConvertSelectionProc: returning, internal status code VERR_NOT_SUPPORTED
470300:09:01.291691 clipXtConvertSelectionProc:
470400:09:01.291706 clipCreateX11Targets: called
470500:09:01.291714 clipXtConvertSelectionProc: returning, internal status code VINF_SUCCESS
470600:09:01.292142 clipXtConvertSelectionProc:
470700:09:01.292168 clipReadVBoxClipboard: pCtx=00007fc1a4001bc0, u32Format=01, ppv=00007fc18c1678a8, pcb=00007fc18c1678a4
470800:09:01.292182 ClipRequestDataForX11: pCtx=00007fc1a4001af0, u32Format=01, ppv=00007fc1a4001c00, pcb=00007fc1a4001c08
470900:09:01.292195 clipRequestDataFromVBox: pCtx=00007fc1a4001af0, pReq=00007fc18c1677d0, u32Format=01
471000:09:01.292204 clipWaitForDataFromVBox: pCtx=00007fc1a4001af0, pReq=00007fc18c1677d0, u32Format=01
471100:09:01.292213 vboxSvcClipboardReportMsg: ReadData 01
471200:09:01.292219 vboxSvcClipboardReturnMsg: ReadData 01
471300:09:01.292226 vboxSvcClipboardReportMsg: CallComplete
471400:09:01.292805 svcCall: u32ClientID = 16, fn = 4, cParms = 2, pparms = -1404178152
471500:09:01.292833 svcCall: VBOX_SHARED_CLIPBOARD_FN_WRITE_DATA
471600:09:01.292841 vboxClipboardWriteData: called. pClient=00007fc1b0005930, pv=00007fc1ac4df148 (It is unclear how much the behaviour of major market participants, such as institutional investors and delegated money managers, is related to consumption.), cb=312, u32Format=01
471700:09:01.292872 svcCall: rc = VINF_SUCCESS
471800:09:01.292906 svcCall: u32ClientID = 16, fn = 1, cParms = 2, pparms = -1404177480
471900:09:01.292915 svcCall: VBOX_SHARED_CLIPBOARD_FN_GET_HOST_MSG
472000:09:01.292921 vboxSvcClipboardReturnMsg: no message
472100:09:01.292939 svcCall: async.
472200:09:01.292950 svcCall: rc = VINF_SUCCESS
472300:09:01.292969 clipWaitForDataFromVBox: returning VINF_SUCCESS
472400:09:01.292997 clipRequestDataFromVBox: returning VINF_SUCCESS
472500:09:01.293007 ClipRequestDataForX11: returning VINF_SUCCESS
472600:09:01.293014 ClipRequestDataForX11: *ppv=It is unclear how much the behaviour of major market participants, such as institutional investors and delegated money managers, is related to consumption., *pcb=312
472700:09:01.293033 clipReadVBoxClipboard: returning VINF_SUCCESS
472800:09:01.293040 clipReadVBoxClipboard: *ppv=It is unclear how much the behaviour of major market participants, such as institutional investors and delegated money managers, is related to consumption., *pcb=312
472900:09:01.293058 clipWinTxtToUtf8: pwszSrc=It is unclear how much the behaviour of major market participants, such as institutional investors and delegated money managers, is related to consumption., cbSrc=312
473000:09:01.293081 clipWinTxtToUtf8: returning VINF_SUCCESS
473100:09:01.293088 clipWinTxtToUtf8: converted string is It is unclear how much the behaviour of major market participants, such as institutional investors and delegated money managers, is related to consumption.. Returning.
473200:09:01.293096 clipXtConvertSelectionProc: returning, internal status code VINF_SUCCESS
473300:09:01.293961 clipXtConvertSelectionProc:
473400:09:01.293989 clipCreateX11Targets: called
473500:09:01.294000 clipXtConvertSelectionProc: returning, internal status code VINF_SUCCESS
473600:09:01.294643 clipXtConvertSelectionProc:
473700:09:01.294701 clipReadVBoxClipboard: pCtx=00007fc1a4001bc0, u32Format=01, ppv=00007fc18c1678a8, pcb=00007fc18c1678a4
473800:09:01.294738 clipReadVBoxClipboard: returning VINF_SUCCESS
473900:09:01.294748 clipReadVBoxClipboard: *ppv=It is unclear how much the behaviour of major market participants, such as institutional investors and delegated money managers, is related to consumption., *pcb=312
474000:09:01.294768 clipWinTxtToUtf8: pwszSrc=It is unclear how much the behaviour of major market participants, such as institutional investors and delegated money managers, is related to consumption., cbSrc=312
474100:09:01.294790 clipWinTxtToUtf8: returning VINF_SUCCESS
474200:09:01.294797 clipWinTxtToUtf8: converted string is It is unclear how much the behaviour of major market participants, such as institutional investors and delegated money managers, is related to consumption.. Returning.
474300:09:01.294805 clipXtConvertSelectionProc: returning, internal status code VINF_SUCCESS
474400:09:01.295180 clipXtConvertSelectionProc:
474500:09:01.295208 clipCreateX11Targets: called
474600:09:01.295219 clipXtConvertSelectionProc: returning, internal status code VINF_SUCCESS
474700:09:01.295411 clipXtConvertSelectionProc:
474800:09:01.295424 clipCreateX11Targets: called
474900:09:01.295433 clipXtConvertSelectionProc: returning, internal status code VINF_SUCCESS
475000:09:01.296075 clipXtConvertSelectionProc:
475100:09:01.296103 clipCreateX11Targets: called
475200:09:01.296113 clipXtConvertSelectionProc: returning, internal status code VINF_SUCCESS
475300:09:01.296366 clipXtConvertSelectionProc:
475400:09:01.296393 clipCreateX11Targets: called
475500:09:01.296403 clipXtConvertSelectionProc: returning, internal status code VINF_SUCCESS
475600:09:01.296634 clipXtConvertSelectionProc:
475700:09:01.296644 clipReadVBoxClipboard: pCtx=00007fc1a4001bc0, u32Format=01, ppv=00007fc18c1678a8, pcb=00007fc18c1678a4
475800:09:01.296658 clipReadVBoxClipboard: returning VINF_SUCCESS
475900:09:01.296665 clipReadVBoxClipboard: *ppv=It is unclear how much the behaviour of major market participants, such as institutional investors and delegated money managers, is related to consumption., *pcb=312
476000:09:01.296684 clipWinTxtToUtf8: pwszSrc=It is unclear how much the behaviour of major market participants, such as institutional investors and delegated money managers, is related to consumption., cbSrc=312
476100:09:01.296706 clipWinTxtToUtf8: returning VINF_SUCCESS
476200:09:01.296713 clipWinTxtToUtf8: converted string is It is unclear how much the behaviour of major market participants, such as institutional investors and delegated money managers, is related to consumption.. Returning.
476300:09:01.296721 clipXtConvertSelectionProc: returning, internal status code VINF_SUCCESS
476400:09:01.297129 clipXtConvertSelectionProc:
476500:09:01.297145 clipCreateX11Targets: called
476600:09:01.297154 clipXtConvertSelectionProc: returning, internal status code VINF_SUCCESS
476700:09:01.297290 clipXtConvertSelectionProc:
476800:09:01.297300 clipCreateX11Targets: called
476900:09:01.297308 clipXtConvertSelectionProc: returning, internal status code VINF_SUCCESS
477000:09:01.297470 clipXtConvertSelectionProc:
477100:09:01.297484 clipReadVBoxClipboard: pCtx=00007fc1a4001bc0, u32Format=01, ppv=00007fc18c1678a8, pcb=00007fc18c1678a4
477200:09:01.297496 clipReadVBoxClipboard: returning VINF_SUCCESS
477300:09:01.297504 clipReadVBoxClipboard: *ppv=It is unclear how much the behaviour of major market participants, such as institutional investors and delegated money managers, is related to consumption., *pcb=312
477400:09:01.297521 clipWinTxtToUtf8: pwszSrc=It is unclear how much the behaviour of major market participants, such as institutional investors and delegated money managers, is related to consumption., cbSrc=312
477500:09:01.297542 clipWinTxtToUtf8: returning VINF_SUCCESS
477600:09:01.297548 clipWinTxtToUtf8: converted string is It is unclear how much the behaviour of major market participants, such as institutional investors and delegated money managers, is related to consumption.. Returning.
477700:09:01.297556 clipXtConvertSelectionProc: returning, internal status code VINF_SUCCESS
477800:09:01.297842 clipXtConvertSelectionProc:
477900:09:01.297859 clipCreateX11Targets: called
478000:09:01.297867 clipXtConvertSelectionProc: returning, internal status code VINF_SUCCESS
478100:09:01.298221 clipXtConvertSelectionProc:
478200:09:01.298235 clipCreateX11Targets: called
478300:09:01.298243 clipXtConvertSelectionProc: returning, internal status code VINF_SUCCESS
478400:09:01.298357 clipXtConvertSelectionProc:
478500:09:01.298378 clipCreateX11Targets: called
478600:09:01.298388 clipXtConvertSelectionProc: returning, internal status code VINF_SUCCESS
478700:09:01.299130 clipXtConvertSelectionProc:
478800:09:01.299150 clipCreateX11Targets: called
478900:09:01.299159 clipXtConvertSelectionProc: returning, internal status code VINF_SUCCESS
479000:09:01.299273 clipXtConvertSelectionProc:
479100:09:01.299284 clipCreateX11Targets: called
479200:09:01.299292 clipXtConvertSelectionProc: returning, internal status code VINF_SUCCESS
479300:09:01.299398 clipXtConvertSelectionProc:
479400:09:01.299417 clipCreateX11Targets: called
479500:09:01.299426 clipXtConvertSelectionProc: returning, internal status code VINF_SUCCESS
479600:09:01.299859 clipXtConvertSelectionProc:
479700:09:01.299872 clipCreateX11Targets: called
479800:09:01.299880 clipXtConvertSelectionProc: returning, internal status code VINF_SUCCESS
479900:09:01.300204 clipXtConvertSelectionProc:
480000:09:01.300217 clipReadVBoxClipboard: pCtx=00007fc1a4001bc0, u32Format=01, ppv=00007fc18c1678a8, pcb=00007fc18c1678a4
480100:09:01.300229 clipReadVBoxClipboard: returning VINF_SUCCESS
480200:09:01.300237 clipReadVBoxClipboard: *ppv=It is unclear how much the behaviour of major market participants, such as institutional investors and delegated money managers, is related to consumption., *pcb=312
480300:09:01.300255 clipWinTxtToUtf8: pwszSrc=It is unclear how much the behaviour of major market participants, such as institutional investors and delegated money managers, is related to consumption., cbSrc=312
480400:09:01.300276 clipWinTxtToUtf8: returning VINF_SUCCESS
480500:09:01.300282 clipWinTxtToUtf8: converted string is It is unclear how much the behaviour of major market participants, such as institutional investors and delegated money managers, is related to consumption.. Returning.
480600:09:01.300290 clipXtConvertSelectionProc: returning, internal status code VINF_SUCCESS
480700:09:01.300582 clipXtConvertSelectionProc:
480800:09:01.300594 clipCreateX11Targets: called
480900:09:01.300602 clipXtConvertSelectionProc: returning, internal status code VINF_SUCCESS
481000:09:01.300753 clipXtConvertSelectionProc:
481100:09:01.300764 clipReadVBoxClipboard: pCtx=00007fc1a4001bc0, u32Format=01, ppv=00007fc18c1678a8, pcb=00007fc18c1678a4
481200:09:01.300775 clipReadVBoxClipboard: returning VINF_SUCCESS
481300:09:01.300782 clipReadVBoxClipboard: *ppv=It is unclear how much the behaviour of major market participants, such as institutional investors and delegated money managers, is related to consumption., *pcb=312
481400:09:01.300799 clipWinTxtToUtf8: pwszSrc=It is unclear how much the behaviour of major market participants, such as institutional investors and delegated money managers, is related to consumption., cbSrc=312
481500:09:01.300818 clipWinTxtToUtf8: returning VINF_SUCCESS
481600:09:01.300825 clipWinTxtToUtf8: converted string is It is unclear how much the behaviour of major market participants, such as institutional investors and delegated money managers, is related to consumption.. Returning.
481700:09:01.300832 clipXtConvertSelectionProc: returning, internal status code VINF_SUCCESS
481800:09:01.301038 clipXtConvertSelectionProc:
481900:09:01.301051 clipReadVBoxClipboard: pCtx=00007fc1a4001bc0, u32Format=01, ppv=00007fc18c1678a8, pcb=00007fc18c1678a4
482000:09:01.301061 clipReadVBoxClipboard: returning VINF_SUCCESS
482100:09:01.301068 clipReadVBoxClipboard: *ppv=It is unclear how much the behaviour of major market participants, such as institutional investors and delegated money managers, is related to consumption., *pcb=312
482200:09:01.301084 clipWinTxtToUtf8: pwszSrc=It is unclear how much the behaviour of major market participants, such as institutional investors and delegated money managers, is related to consumption., cbSrc=312
482300:09:01.301104 clipWinTxtToUtf8: returning VINF_SUCCESS
482400:09:01.301111 clipWinTxtToUtf8: converted string is It is unclear how much the behaviour of major market participants, such as institutional investors and delegated money managers, is related to consumption.. Returning.
482500:09:01.301132 clipXtConvertSelectionProc: returning, internal status code VINF_SUCCESS
482600:09:01.301375 clipXtConvertSelectionProc:
482700:09:01.301387 clipCreateX11Targets: called
482800:09:01.301395 clipXtConvertSelectionProc: returning, internal status code VINF_SUCCESS
482900:09:01.301633 clipXtConvertSelectionProc:
483000:09:01.301645 clipReadVBoxClipboard: pCtx=00007fc1a4001bc0, u32Format=01, ppv=00007fc18c1678a8, pcb=00007fc18c1678a4
483100:09:01.301656 clipReadVBoxClipboard: returning VINF_SUCCESS
483200:09:01.301663 clipReadVBoxClipboard: *ppv=It is unclear how much the behaviour of major market participants, such as institutional investors and delegated money managers, is related to consumption., *pcb=312
483300:09:01.301680 clipWinTxtToUtf8: pwszSrc=It is unclear how much the behaviour of major market participants, such as institutional investors and delegated money managers, is related to consumption., cbSrc=312
483400:09:01.301699 clipWinTxtToUtf8: returning VINF_SUCCESS
483500:09:01.301706 clipWinTxtToUtf8: converted string is It is unclear how much the behaviour of major market participants, such as institutional investors and delegated money managers, is related to consumption.. Returning.
483600:09:01.301713 clipXtConvertSelectionProc: returning, internal status code VINF_SUCCESS
483700:09:01.301828 clipXtConvertSelectionProc:
483800:09:01.301839 clipReadVBoxClipboard: pCtx=00007fc1a4001bc0, u32Format=01, ppv=00007fc18c1678a8, pcb=00007fc18c1678a4
483900:09:01.301849 clipReadVBoxClipboard: returning VINF_SUCCESS
484000:09:01.301856 clipReadVBoxClipboard: *ppv=It is unclear how much the behaviour of major market participants, such as institutional investors and delegated money managers, is related to consumption., *pcb=312
484100:09:01.301873 clipWinTxtToUtf8: pwszSrc=It is unclear how much the behaviour of major market participants, such as institutional investors and delegated money managers, is related to consumption., cbSrc=312
484200:09:01.301892 clipWinTxtToUtf8: returning VINF_SUCCESS
484300:09:01.301899 clipWinTxtToUtf8: converted string is It is unclear how much the behaviour of major market participants, such as institutional investors and delegated money managers, is related to consumption.. Returning.
484400:09:01.301906 clipXtConvertSelectionProc: returning, internal status code VINF_SUCCESS
484500:09:01.302000 clipXtConvertSelectionProc:
484600:09:01.302011 clipReadVBoxClipboard: pCtx=00007fc1a4001bc0, u32Format=01, ppv=00007fc18c1678a8, pcb=00007fc18c1678a4
484700:09:01.302021 clipReadVBoxClipboard: returning VINF_SUCCESS
484800:09:01.302028 clipReadVBoxClipboard: *ppv=It is unclear how much the behaviour of major market participants, such as institutional investors and delegated money managers, is related to consumption., *pcb=312
484900:09:01.302045 clipWinTxtToUtf8: pwszSrc=It is unclear how much the behaviour of major market participants, such as institutional investors and delegated money managers, is related to consumption., cbSrc=312
485000:09:01.302064 clipWinTxtToUtf8: returning VINF_SUCCESS
485100:09:01.302071 clipWinTxtToUtf8: converted string is It is unclear how much the behaviour of major market participants, such as institutional investors and delegated money managers, is related to consumption.. Returning.
485200:09:01.302078 clipXtConvertSelectionProc: returning, internal status code VINF_SUCCESS
485300:09:03.254813 clipXtConvertSelectionProc:
485400:09:03.254860 clipCreateX11Targets: called
485500:09:03.254874 clipXtConvertSelectionProc: returning, internal status code VINF_SUCCESS
485600:09:03.994436 void clipQueryX11CBFormats(CLIPBACKEND*): requesting the targets that the X11 clipboard offers
485700:09:03.998594 clipConvertX11Targets: pValue=00007fc1dc006280, *pcLen=11, *atomType=4
485800:09:03.998700 clipUpdateX11Targets: called
485900:09:03.998716 clipReportFormatsToVBox: clipReportFormatsToVBox format: 1
486000:09:03.998725 clipReportFormatsToVBox: clipReportFormatsToVBox txt: 1, bitm: 0, html:0, u32VBoxFormats: 1
486100:09:03.998752 ClipReportX11Formats: called. pCtx=00007fc1a4001af0, u32Formats=01
486200:09:03.998762 vboxSvcClipboardReportMsg: Formats 01
486300:09:03.998769 vboxSvcClipboardReturnMsg: Formats 01
486400:09:03.998775 vboxSvcClipboardReportMsg: CallComplete
486500:09:03.999615 svcCall: u32ClientID = 16, fn = 1, cParms = 2, pparms = -1404177480
486600:09:03.999647 svcCall: VBOX_SHARED_CLIPBOARD_FN_GET_HOST_MSG
486700:09:03.999654 vboxSvcClipboardReturnMsg: no message
486800:09:03.999660 svcCall: async.
486900:09:03.999666 svcCall: rc = VINF_SUCCESS
487000:10:09.002498 void clipQueryX11CBFormats(CLIPBACKEND*): requesting the targets that the X11 clipboard offers
487100:10:09.006249 clipConvertX11Targets: pValue=00007fc1dc006280, *pcLen=11, *atomType=4
487200:10:09.006327 clipUpdateX11Targets: called
487300:10:09.006340 clipReportFormatsToVBox: clipReportFormatsToVBox format: 1
487400:10:09.006349 clipReportFormatsToVBox: clipReportFormatsToVBox txt: 1, bitm: 0, html:0, u32VBoxFormats: 1
487500:10:09.006360 ClipReportX11Formats: called. pCtx=00007fc1a4001af0, u32Formats=01
487600:10:09.006370 vboxSvcClipboardReportMsg: Formats 01
487700:10:09.006378 vboxSvcClipboardReturnMsg: Formats 01
487800:10:09.006385 vboxSvcClipboardReportMsg: CallComplete
487900:10:09.007181 svcCall: u32ClientID = 16, fn = 1, cParms = 2, pparms = -1404177480
488000:10:09.007224 svcCall: VBOX_SHARED_CLIPBOARD_FN_GET_HOST_MSG
488100:10:09.007233 vboxSvcClipboardReturnMsg: no message
488200:10:09.007239 svcCall: async.
488300:10:09.007246 svcCall: rc = VINF_SUCCESS
488400:10:20.828306 clipReportFormatsToVBox: clipReportFormatsToVBox format: 0
488500:10:20.828355 clipReportFormatsToVBox: clipReportFormatsToVBox txt: 0, bitm: 0, html:0, u32VBoxFormats: 0
488600:10:20.828367 ClipReportX11Formats: called. pCtx=00007fc1a4001af0, u32Formats=00
488700:10:20.828378 vboxSvcClipboardReportMsg: Formats 00
488800:10:20.828385 vboxSvcClipboardReturnMsg: Formats 00
488900:10:20.828392 vboxSvcClipboardReportMsg: CallComplete
489000:10:20.829029 svcCall: u32ClientID = 16, fn = 1, cParms = 2, pparms = -1404177480
489100:10:20.829054 svcCall: VBOX_SHARED_CLIPBOARD_FN_GET_HOST_MSG
489200:10:20.829062 vboxSvcClipboardReturnMsg: no message
489300:10:20.829068 svcCall: async.
489400:10:20.829075 svcCall: rc = VINF_SUCCESS
489500:11:59.595761 void clipQueryX11CBFormats(CLIPBACKEND*): requesting the targets that the X11 clipboard offers
489600:11:59.603132 clipConvertX11Targets: pValue=00007fc1dc006280, *pcLen=12, *atomType=4
489700:11:59.603203 clipUpdateX11Targets: called
489800:11:59.603216 clipReportFormatsToVBox: clipReportFormatsToVBox format: 1
489900:11:59.603224 clipReportFormatsToVBox: clipReportFormatsToVBox txt: 1, bitm: 0, html:0, u32VBoxFormats: 1
490000:11:59.603233 ClipReportX11Formats: called. pCtx=00007fc1a4001af0, u32Formats=01
490100:11:59.603243 vboxSvcClipboardReportMsg: Formats 01
490200:11:59.603250 vboxSvcClipboardReturnMsg: Formats 01
490300:11:59.603257 vboxSvcClipboardReportMsg: CallComplete
490400:11:59.603896 svcCall: u32ClientID = 16, fn = 1, cParms = 2, pparms = -1404177480
490500:11:59.603928 svcCall: VBOX_SHARED_CLIPBOARD_FN_GET_HOST_MSG
490600:11:59.603936 vboxSvcClipboardReturnMsg: no message
490700:11:59.603943 svcCall: async.
490800:11:59.603950 svcCall: rc = VINF_SUCCESS
490900:14:32.219888 void clipQueryX11CBFormats(CLIPBACKEND*): requesting the targets that the X11 clipboard offers
491000:14:32.222322 clipConvertX11Targets: pValue=00007fc1dc006280, *pcLen=12, *atomType=4
491100:14:32.222393 clipUpdateX11Targets: called
491200:14:32.222406 clipReportFormatsToVBox: clipReportFormatsToVBox format: 1
491300:14:32.222415 clipReportFormatsToVBox: clipReportFormatsToVBox txt: 1, bitm: 0, html:0, u32VBoxFormats: 1
491400:14:32.222424 ClipReportX11Formats: called. pCtx=00007fc1a4001af0, u32Formats=01
491500:14:32.222433 vboxSvcClipboardReportMsg: Formats 01
491600:14:32.222441 vboxSvcClipboardReturnMsg: Formats 01
491700:14:32.222448 vboxSvcClipboardReportMsg: CallComplete
491800:14:32.223293 svcCall: u32ClientID = 16, fn = 1, cParms = 2, pparms = -1404177480
491900:14:32.223335 svcCall: VBOX_SHARED_CLIPBOARD_FN_GET_HOST_MSG
492000:14:32.223345 vboxSvcClipboardReturnMsg: no message
492100:14:32.223352 svcCall: async.
492200:14:32.223358 svcCall: rc = VINF_SUCCESS
492300:16:35.554137 void clipQueryX11CBFormats(CLIPBACKEND*): requesting the targets that the X11 clipboard offers
492400:16:35.555190 clipConvertX11Targets: pValue=00007fc1dc0047b0, *pcLen=8, *atomType=4
492500:16:35.555255 clipUpdateX11Targets: called
492600:16:35.555266 clipReportFormatsToVBox: clipReportFormatsToVBox format: 1
492700:16:35.555274 clipReportFormatsToVBox: clipReportFormatsToVBox txt: 1, bitm: 0, html:0, u32VBoxFormats: 1
492800:16:35.555282 ClipReportX11Formats: called. pCtx=00007fc1a4001af0, u32Formats=01
492900:16:35.555291 vboxSvcClipboardReportMsg: Formats 01
493000:16:35.555297 vboxSvcClipboardReturnMsg: Formats 01
493100:16:35.555303 vboxSvcClipboardReportMsg: CallComplete
493200:16:35.556020 svcCall: u32ClientID = 16, fn = 1, cParms = 2, pparms = -1404177480
493300:16:35.556046 svcCall: VBOX_SHARED_CLIPBOARD_FN_GET_HOST_MSG
493400:16:35.556054 vboxSvcClipboardReturnMsg: no message
493500:16:35.556060 svcCall: async.
493600:16:35.556065 svcCall: rc = VINF_SUCCESS
493700:18:57.551109 void clipQueryX11CBFormats(CLIPBACKEND*): requesting the targets that the X11 clipboard offers
493800:18:57.554681 clipConvertX11Targets: pValue=00007fc1dc0008c0, *pcLen=9, *atomType=4
493900:18:57.554738 clipUpdateX11Targets: called
494000:18:57.554748 clipReportFormatsToVBox: clipReportFormatsToVBox format: 5
494100:18:57.554758 clipReportFormatsToVBox: clipReportFormatsToVBox txt: 1, bitm: 0, html:7, u32VBoxFormats: 5
494200:18:57.554767 ClipReportX11Formats: called. pCtx=00007fc1a4001af0, u32Formats=05
494300:18:57.554778 vboxSvcClipboardReportMsg: Formats 05
494400:18:57.554785 vboxSvcClipboardReturnMsg: Formats 05
494500:18:57.554792 vboxSvcClipboardReportMsg: CallComplete
494600:18:57.555442 svcCall: u32ClientID = 16, fn = 1, cParms = 2, pparms = -1404177480
494700:18:57.555477 svcCall: VBOX_SHARED_CLIPBOARD_FN_GET_HOST_MSG
494800:18:57.555486 vboxSvcClipboardReturnMsg: no message
494900:18:57.555492 svcCall: async.
495000:18:57.555499 svcCall: rc = VINF_SUCCESS
495100:19:42.965270 void clipQueryX11CBFormats(CLIPBACKEND*): requesting the targets that the X11 clipboard offers
495200:19:42.982188 clipConvertX11Targets: pValue=00007fc1dc006280, *pcLen=12, *atomType=4
495300:19:42.982263 clipUpdateX11Targets: called
495400:19:42.982275 clipReportFormatsToVBox: clipReportFormatsToVBox format: 1
495500:19:42.982283 clipReportFormatsToVBox: clipReportFormatsToVBox txt: 1, bitm: 0, html:0, u32VBoxFormats: 1
495600:19:42.982292 ClipReportX11Formats: called. pCtx=00007fc1a4001af0, u32Formats=01
495700:19:42.982301 vboxSvcClipboardReportMsg: Formats 01
495800:19:42.982308 vboxSvcClipboardReturnMsg: Formats 01
495900:19:42.982315 vboxSvcClipboardReportMsg: CallComplete
496000:19:42.983116 svcCall: u32ClientID = 16, fn = 1, cParms = 2, pparms = -1404177480
496100:19:42.983164 svcCall: VBOX_SHARED_CLIPBOARD_FN_GET_HOST_MSG
496200:19:42.983173 vboxSvcClipboardReturnMsg: no message
496300:19:42.983180 svcCall: async.
496400:19:42.983186 svcCall: rc = VINF_SUCCESS
496500:34:55.430974 svcCall: u32ClientID = 16, fn = 2, cParms = 1, pparms = -1403801416
496600:34:55.431054 svcCall: VBOX_SHARED_CLIPBOARD_FN_FORMATS
496700:34:55.431067 vboxClipboardFormatAnnounce: called. pClient=00007fc1b0005930, u32Formats=00
496800:34:55.431081 clipQueueToEventThread: proc=00007fc1c1947190, client_data=00007fc1a4013840
496900:34:55.431108 svcCall: rc = VINF_SUCCESS
497000:34:55.431265 clipNewVBoxFormatsWorker: u32Formats=0
497100:34:55.432849 clipNewVBoxFormatsWorker: returning
497200:34:55.432889 clipDrainWakeupPipe: called
497300:34:55.432924 clipXtConvertSelectionProc:
497400:34:55.432934 clipXtConvertSelectionProc: returning, internal status code VERR_NOT_SUPPORTED
497500:34:55.433581 clipXtConvertSelectionProc:
497600:34:55.433607 clipCreateX11Targets: called
497700:34:55.433615 clipXtConvertSelectionProc: returning, internal status code VINF_SUCCESS
497800:34:55.436408 clipXtConvertSelectionProc:
497900:34:55.436448 clipXtConvertSelectionProc: returning, internal status code VERR_NOT_SUPPORTED
498000:34:55.436698 clipXtConvertSelectionProc:
498100:34:55.436734 clipCreateX11Targets: called
498200:34:55.436744 clipXtConvertSelectionProc: returning, internal status code VINF_SUCCESS
498300:34:55.442774 clipXtConvertSelectionProc:
498400:34:55.442809 clipCreateX11Targets: called
498500:34:55.442819 clipXtConvertSelectionProc: returning, internal status code VINF_SUCCESS
498600:34:55.444776 clipXtConvertSelectionProc:
498700:34:55.444800 clipCreateX11Targets: called
498800:34:55.444807 clipXtConvertSelectionProc: returning, internal status code VINF_SUCCESS
498900:34:55.445369 clipXtConvertSelectionProc:
499000:34:55.445388 clipXtConvertSelectionProc: returning, internal status code VERR_NOT_SUPPORTED
499100:34:55.446052 clipXtConvertSelectionProc:
499200:34:55.446072 clipXtConvertSelectionProc: returning, internal status code VERR_NOT_SUPPORTED
499300:34:55.446240 clipXtConvertSelectionProc:
499400:34:55.446256 clipXtConvertSelectionProc: returning, internal status code VERR_NOT_SUPPORTED
499500:34:55.446320 clipXtConvertSelectionProc:
499600:34:55.446331 clipXtConvertSelectionProc: returning, internal status code VERR_NOT_SUPPORTED
499700:34:55.446409 clipXtConvertSelectionProc:
499800:34:55.446418 clipCreateX11Targets: called
499900:34:55.446426 clipXtConvertSelectionProc: returning, internal status code VINF_SUCCESS
500000:34:55.446527 clipXtConvertSelectionProc:
500100:34:55.446537 clipCreateX11Targets: called
500200:34:55.446544 clipXtConvertSelectionProc: returning, internal status code VINF_SUCCESS
500300:34:55.446721 clipXtConvertSelectionProc:
500400:34:55.446735 clipCreateX11Targets: called
500500:34:55.446742 clipXtConvertSelectionProc: returning, internal status code VINF_SUCCESS
500600:34:55.446862 clipXtConvertSelectionProc:
500700:34:55.446876 clipXtConvertSelectionProc: returning, internal status code VERR_NOT_SUPPORTED
500800:34:55.447103 clipXtConvertSelectionProc:
500900:34:55.447121 clipXtConvertSelectionProc: returning, internal status code VERR_NOT_SUPPORTED
501000:34:55.448493 clipXtConvertSelectionProc:
501100:34:55.448513 clipCreateX11Targets: called
501200:34:55.448520 clipXtConvertSelectionProc: returning, internal status code VINF_SUCCESS
501300:34:55.448658 clipXtConvertSelectionProc:
501400:34:55.448670 clipCreateX11Targets: called
501500:34:55.448677 clipXtConvertSelectionProc: returning, internal status code VINF_SUCCESS
501600:34:55.448834 clipXtConvertSelectionProc:
501700:34:55.448847 clipCreateX11Targets: called
501800:34:55.448854 clipXtConvertSelectionProc: returning, internal status code VINF_SUCCESS
501900:34:55.449273 clipXtConvertSelectionProc:
502000:34:55.449290 clipCreateX11Targets: called
502100:34:55.449297 clipXtConvertSelectionProc: returning, internal status code VINF_SUCCESS
502200:34:55.449429 clipXtConvertSelectionProc:
502300:34:55.449442 clipCreateX11Targets: called
502400:34:55.449449 clipXtConvertSelectionProc: returning, internal status code VINF_SUCCESS
502500:34:55.449999 clipXtConvertSelectionProc:
502600:34:55.450015 clipCreateX11Targets: called
502700:34:55.450022 clipXtConvertSelectionProc: returning, internal status code VINF_SUCCESS
502800:34:55.450069 svcCall: u32ClientID = 16, fn = 2, cParms = 1, pparms = -1403801416
502900:34:55.450080 svcCall: VBOX_SHARED_CLIPBOARD_FN_FORMATS
503000:34:55.450087 vboxClipboardFormatAnnounce: called. pClient=00007fc1b0005930, u32Formats=01
503100:34:55.450098 clipQueueToEventThread: proc=00007fc1c1947190, client_data=00007fc1a4013820
503200:34:55.450595 clipXtConvertSelectionProc:
503300:34:55.450625 clipCreateX11Targets: called
503400:34:55.450634 clipXtConvertSelectionProc: returning, internal status code VINF_SUCCESS
503500:34:55.452495 clipXtConvertSelectionProc:
503600:34:55.452519 clipCreateX11Targets: called
503700:34:55.452526 clipXtConvertSelectionProc: returning, internal status code VINF_SUCCESS
503800:34:55.453321 clipXtConvertSelectionProc:
503900:34:55.453338 clipCreateX11Targets: called
504000:34:55.453346 clipXtConvertSelectionProc: returning, internal status code VINF_SUCCESS
504100:34:55.453776 clipXtConvertSelectionProc:
504200:34:55.453796 clipXtConvertSelectionProc: returning, internal status code VERR_NOT_SUPPORTED
504300:34:55.453975 clipXtConvertSelectionProc:
504400:34:55.454010 clipXtConvertSelectionProc: returning, internal status code VERR_NOT_SUPPORTED
504500:34:55.454092 clipXtConvertSelectionProc:
504600:34:55.454104 clipXtConvertSelectionProc: returning, internal status code VERR_NOT_SUPPORTED
504700:34:55.454313 clipXtConvertSelectionProc:
504800:34:55.454329 clipXtConvertSelectionProc: returning, internal status code VERR_NOT_SUPPORTED
504900:34:55.454593 clipXtConvertSelectionProc:
505000:34:55.454612 clipXtConvertSelectionProc: returning, internal status code VERR_NOT_SUPPORTED
505100:34:55.454731 clipXtConvertSelectionProc:
505200:34:55.454746 clipXtConvertSelectionProc: returning, internal status code VERR_NOT_SUPPORTED
505300:34:55.454885 clipXtConvertSelectionProc:
505400:34:55.454899 clipXtConvertSelectionProc: returning, internal status code VERR_NOT_SUPPORTED
505500:34:55.455039 clipXtConvertSelectionProc:
505600:34:55.455072 clipXtConvertSelectionProc: returning, internal status code VERR_NOT_SUPPORTED
505700:34:55.455248 svcCall: rc = VINF_SUCCESS
505800:34:55.455290 clipNewVBoxFormatsWorker: u32Formats=1
505900:34:55.455326 clipNewVBoxFormatsWorker: returning
506000:34:55.455339 clipDrainWakeupPipe: called
506100:34:55.455363 clipXtConvertSelectionProc:
506200:34:55.455372 clipReadVBoxClipboard: pCtx=00007fc1a4001bc0, u32Format=01, ppv=00007fc18c1678a8, pcb=00007fc18c1678a4
506300:34:55.455384 ClipRequestDataForX11: pCtx=00007fc1a4001af0, u32Format=01, ppv=00007fc1a4001c00, pcb=00007fc1a4001c08
506400:34:55.455397 clipRequestDataFromVBox: pCtx=00007fc1a4001af0, pReq=00007fc18c1677d0, u32Format=01
506500:34:55.455406 clipWaitForDataFromVBox: pCtx=00007fc1a4001af0, pReq=00007fc18c1677d0, u32Format=01
506600:34:55.455415 vboxSvcClipboardReportMsg: ReadData 01
506700:34:55.455422 vboxSvcClipboardReturnMsg: ReadData 01
506800:34:55.455428 vboxSvcClipboardReportMsg: CallComplete
506900:34:55.455723 svcCall: u32ClientID = 16, fn = 2, cParms = 1, pparms = -1403801416
507000:34:55.455732 svcCall: VBOX_SHARED_CLIPBOARD_FN_FORMATS
507100:34:55.455737 vboxClipboardFormatAnnounce: called. pClient=00007fc1b0005930, u32Formats=01
507200:34:55.455744 clipQueueToEventThread: proc=00007fc1c1947190, client_data=00007fc1a4013820
507300:35:00.455587 clipWaitForDataFromVBox: returning VERR_TIMEOUT
507400:35:00.455637 clipRequestDataFromVBox: returning VERR_TIMEOUT
507500:35:00.455649 ClipRequestDataForX11: returning VERR_TIMEOUT
507600:35:00.455658 clipReadVBoxClipboard: returning VERR_TIMEOUT
507700:35:00.455673 clipXtConvertSelectionProc: returning, internal status code VERR_TIMEOUT
507800:35:00.456065 clipXtConvertSelectionProc:
507900:35:00.456098 clipReadVBoxClipboard: pCtx=00007fc1a4001bc0, u32Format=01, ppv=00007fc18c1678a8, pcb=00007fc18c1678a4
508000:35:00.456113 ClipRequestDataForX11: pCtx=00007fc1a4001af0, u32Format=01, ppv=00007fc1a4001c00, pcb=00007fc1a4001c08
508100:35:00.456126 clipRequestDataFromVBox: pCtx=00007fc1a4001af0, pReq=00007fc18c1677d0, u32Format=01
508200:35:00.456135 clipWaitForDataFromVBox: pCtx=00007fc1a4001af0, pReq=00007fc18c1677d0, u32Format=01
508300:35:00.456144 vboxSvcClipboardReportMsg: ReadData 01
508400:35:05.456283 clipWaitForDataFromVBox: returning VERR_TIMEOUT
508500:35:05.456332 clipRequestDataFromVBox: returning VERR_TIMEOUT
508600:35:05.456344 ClipRequestDataForX11: returning VERR_TIMEOUT
508700:35:05.456353 clipReadVBoxClipboard: returning VERR_TIMEOUT
508800:35:05.456371 clipXtConvertSelectionProc: returning, internal status code VERR_TIMEOUT
508900:35:05.456658 clipXtConvertSelectionProc:
509000:35:05.456695 clipReadVBoxClipboard: pCtx=00007fc1a4001bc0, u32Format=01, ppv=00007fc18c1678a8, pcb=00007fc18c1678a4
509100:35:05.456710 ClipRequestDataForX11: pCtx=00007fc1a4001af0, u32Format=01, ppv=00007fc1a4001c00, pcb=00007fc1a4001c08
509200:35:05.456723 clipRequestDataFromVBox: pCtx=00007fc1a4001af0, pReq=00007fc18c1677d0, u32Format=01
509300:35:05.456732 clipWaitForDataFromVBox: pCtx=00007fc1a4001af0, pReq=00007fc18c1677d0, u32Format=01
509400:35:05.456741 vboxSvcClipboardReportMsg: ReadData 01
509500:35:10.456837 clipWaitForDataFromVBox: returning VERR_TIMEOUT
509600:35:10.456886 clipRequestDataFromVBox: returning VERR_TIMEOUT
509700:35:10.456899 ClipRequestDataForX11: returning VERR_TIMEOUT
509800:35:10.456907 clipReadVBoxClipboard: returning VERR_TIMEOUT
509900:35:10.456924 clipXtConvertSelectionProc: returning, internal status code VERR_TIMEOUT
510000:35:10.457180 clipXtConvertSelectionProc:
510100:35:10.457202 clipReadVBoxClipboard: pCtx=00007fc1a4001bc0, u32Format=01, ppv=00007fc18c1678a8, pcb=00007fc18c1678a4
510200:35:10.457216 ClipRequestDataForX11: pCtx=00007fc1a4001af0, u32Format=01, ppv=00007fc1a4001c00, pcb=00007fc1a4001c08
510300:35:10.457244 clipRequestDataFromVBox: pCtx=00007fc1a4001af0, pReq=00007fc18c1677d0, u32Format=01
510400:35:10.457255 clipWaitForDataFromVBox: pCtx=00007fc1a4001af0, pReq=00007fc18c1677d0, u32Format=01
510500:35:10.457264 vboxSvcClipboardReportMsg: ReadData 01
510600:35:15.457400 clipWaitForDataFromVBox: returning VERR_TIMEOUT
510700:35:15.457457 clipRequestDataFromVBox: returning VERR_TIMEOUT
510800:35:15.457471 ClipRequestDataForX11: returning VERR_TIMEOUT
510900:35:15.457492 clipReadVBoxClipboard: returning VERR_TIMEOUT
511000:35:15.457502 clipXtConvertSelectionProc: returning, internal status code VERR_TIMEOUT
511100:35:15.457814 clipXtConvertSelectionProc:
511200:35:15.457852 clipReadVBoxClipboard: pCtx=00007fc1a4001bc0, u32Format=01, ppv=00007fc18c1678a8, pcb=00007fc18c1678a4
511300:35:15.457869 ClipRequestDataForX11: pCtx=00007fc1a4001af0, u32Format=01, ppv=00007fc1a4001c00, pcb=00007fc1a4001c08
511400:35:15.457883 clipRequestDataFromVBox: pCtx=00007fc1a4001af0, pReq=00007fc18c1677d0, u32Format=01
511500:35:15.457893 clipWaitForDataFromVBox: pCtx=00007fc1a4001af0, pReq=00007fc18c1677d0, u32Format=01
511600:35:15.457903 vboxSvcClipboardReportMsg: ReadData 01
511700:35:20.458034 clipWaitForDataFromVBox: returning VERR_TIMEOUT
511800:35:20.458261 clipRequestDataFromVBox: returning VERR_TIMEOUT
511900:35:20.458353 ClipRequestDataForX11: returning VERR_TIMEOUT
512000:35:20.458396 clipReadVBoxClipboard: returning VERR_TIMEOUT
512100:35:20.458414 clipXtConvertSelectionProc: returning, internal status code VERR_TIMEOUT
512200:35:20.458761 clipXtConvertSelectionProc:
512300:35:20.458787 clipReadVBoxClipboard: pCtx=00007fc1a4001bc0, u32Format=01, ppv=00007fc18c1678a8, pcb=00007fc18c1678a4
512400:35:20.458801 ClipRequestDataForX11: pCtx=00007fc1a4001af0, u32Format=01, ppv=00007fc1a4001c00, pcb=00007fc1a4001c08
512500:35:20.458815 clipRequestDataFromVBox: pCtx=00007fc1a4001af0, pReq=00007fc18c1677d0, u32Format=01
512600:35:20.458825 clipWaitForDataFromVBox: pCtx=00007fc1a4001af0, pReq=00007fc18c1677d0, u32Format=01
512700:35:20.458834 vboxSvcClipboardReportMsg: ReadData 01
512800:35:25.458974 clipWaitForDataFromVBox: returning VERR_TIMEOUT
512900:35:25.459038 clipRequestDataFromVBox: returning VERR_TIMEOUT
513000:35:25.459065 ClipRequestDataForX11: returning VERR_TIMEOUT
513100:35:25.459075 clipReadVBoxClipboard: returning VERR_TIMEOUT
513200:35:25.459083 clipXtConvertSelectionProc: returning, internal status code VERR_TIMEOUT
513300:35:25.459279 clipXtConvertSelectionProc:
513400:35:25.459298 clipReadVBoxClipboard: pCtx=00007fc1a4001bc0, u32Format=01, ppv=00007fc18c1678a8, pcb=00007fc18c1678a4
513500:35:25.459312 ClipRequestDataForX11: pCtx=00007fc1a4001af0, u32Format=01, ppv=00007fc1a4001c00, pcb=00007fc1a4001c08
513600:35:25.459326 clipRequestDataFromVBox: pCtx=00007fc1a4001af0, pReq=00007fc18c1677d0, u32Format=01
513700:35:25.459336 clipWaitForDataFromVBox: pCtx=00007fc1a4001af0, pReq=00007fc18c1677d0, u32Format=01
513800:35:25.459346 vboxSvcClipboardReportMsg: ReadData 01
513900:35:30.459441 clipWaitForDataFromVBox: returning VERR_TIMEOUT
514000:35:30.459492 clipRequestDataFromVBox: returning VERR_TIMEOUT
514100:35:30.459505 ClipRequestDataForX11: returning VERR_TIMEOUT
514200:35:30.459526 clipReadVBoxClipboard: returning VERR_TIMEOUT
514300:35:30.459535 clipXtConvertSelectionProc: returning, internal status code VERR_TIMEOUT
514400:35:30.459784 clipXtConvertSelectionProc:
514500:35:30.459892 clipReadVBoxClipboard: pCtx=00007fc1a4001bc0, u32Format=01, ppv=00007fc18c1678a8, pcb=00007fc18c1678a4
514600:35:30.459946 ClipRequestDataForX11: pCtx=00007fc1a4001af0, u32Format=01, ppv=00007fc1a4001c00, pcb=00007fc1a4001c08
514700:35:30.459967 clipRequestDataFromVBox: pCtx=00007fc1a4001af0, pReq=00007fc18c1677d0, u32Format=01
514800:35:30.459978 clipWaitForDataFromVBox: pCtx=00007fc1a4001af0, pReq=00007fc18c1677d0, u32Format=01
514900:35:30.459987 vboxSvcClipboardReportMsg: ReadData 01
515000:35:35.460125 clipWaitForDataFromVBox: returning VERR_TIMEOUT
515100:35:35.460181 clipRequestDataFromVBox: returning VERR_TIMEOUT
515200:35:35.460195 ClipRequestDataForX11: returning VERR_TIMEOUT
515300:35:35.460213 clipReadVBoxClipboard: returning VERR_TIMEOUT
515400:35:35.460222 clipXtConvertSelectionProc: returning, internal status code VERR_TIMEOUT
515500:35:35.460601 svcCall: rc = VINF_SUCCESS
515600:35:35.460668 svcCall: u32ClientID = 16, fn = 1, cParms = 2, pparms = -1404177480
515700:35:35.460715 svcCall: VBOX_SHARED_CLIPBOARD_FN_GET_HOST_MSG
515800:35:35.460732 vboxSvcClipboardReturnMsg: ReadData 01
515900:35:35.460746 clipXtConvertSelectionProc:
516000:35:35.460789 svcCall: rc = VINF_SUCCESS
516100:35:35.460823 clipReadVBoxClipboard: pCtx=00007fc1a4001bc0, u32Format=01, ppv=00007fc18c1678a8, pcb=00007fc18c1678a4
516200:35:35.460843 ClipRequestDataForX11: pCtx=00007fc1a4001af0, u32Format=01, ppv=00007fc1a4001c00, pcb=00007fc1a4001c08
516300:35:35.460856 clipRequestDataFromVBox: pCtx=00007fc1a4001af0, pReq=00007fc18c1677d0, u32Format=01
516400:35:35.460865 clipWaitForDataFromVBox: pCtx=00007fc1a4001af0, pReq=00007fc18c1677d0, u32Format=01
516500:35:35.460874 vboxSvcClipboardReportMsg: ReadData 01
516600:35:35.461232 svcCall: u32ClientID = 16, fn = 2, cParms = 1, pparms = -1403801416
516700:35:35.461242 svcCall: VBOX_SHARED_CLIPBOARD_FN_FORMATS
516800:35:35.461249 vboxClipboardFormatAnnounce: called. pClient=00007fc1b0005930, u32Formats=01
516900:35:35.461259 clipQueueToEventThread: proc=00007fc1c1947190, client_data=00007fc1a4013840
517000:35:40.460991 clipWaitForDataFromVBox: returning VERR_TIMEOUT
517100:35:40.461042 clipRequestDataFromVBox: returning VERR_TIMEOUT
517200:35:40.461054 ClipRequestDataForX11: returning VERR_TIMEOUT
517300:35:40.461069 clipReadVBoxClipboard: returning VERR_TIMEOUT
517400:35:40.461086 clipXtConvertSelectionProc: returning, internal status code VERR_TIMEOUT
517500:35:40.461297 clipNewVBoxFormatsWorker: u32Formats=1
517600:35:40.461384 clipNewVBoxFormatsWorker: returning
517700:35:40.461402 clipDrainWakeupPipe: called
517800:35:40.461429 clipXtConvertSelectionProc:
517900:35:40.461438 clipReadVBoxClipboard: pCtx=00007fc1a4001bc0, u32Format=01, ppv=00007fc18c1678a8, pcb=00007fc18c1678a4
518000:35:40.461451 ClipRequestDataForX11: pCtx=00007fc1a4001af0, u32Format=01, ppv=00007fc1a4001c00, pcb=00007fc1a4001c08
518100:35:40.461463 clipRequestDataFromVBox: pCtx=00007fc1a4001af0, pReq=00007fc18c1677d0, u32Format=01
518200:35:40.461472 clipWaitForDataFromVBox: pCtx=00007fc1a4001af0, pReq=00007fc18c1677d0, u32Format=01
518300:35:40.461480 vboxSvcClipboardReportMsg: ReadData 01
518400:35:45.461584 clipWaitForDataFromVBox: returning VERR_TIMEOUT
518500:35:45.461720 clipRequestDataFromVBox: returning VERR_TIMEOUT
518600:35:45.461875 ClipRequestDataForX11: returning VERR_TIMEOUT
518700:35:45.461896 clipReadVBoxClipboard: returning VERR_TIMEOUT
518800:35:45.461906 clipXtConvertSelectionProc: returning, internal status code VERR_TIMEOUT
518900:35:45.462316 clipXtConvertSelectionProc:
519000:35:45.462350 clipReadVBoxClipboard: pCtx=00007fc1a4001bc0, u32Format=01, ppv=00007fc18c1678a8, pcb=00007fc18c1678a4
519100:35:45.462365 ClipRequestDataForX11: pCtx=00007fc1a4001af0, u32Format=01, ppv=00007fc1a4001c00, pcb=00007fc1a4001c08
519200:35:45.462378 clipRequestDataFromVBox: pCtx=00007fc1a4001af0, pReq=00007fc18c1677d0, u32Format=01
519300:35:45.462387 clipWaitForDataFromVBox: pCtx=00007fc1a4001af0, pReq=00007fc18c1677d0, u32Format=01
519400:35:45.462395 vboxSvcClipboardReportMsg: ReadData 01
519500:35:50.462531 clipWaitForDataFromVBox: returning VERR_TIMEOUT
519600:35:50.462580 clipRequestDataFromVBox: returning VERR_TIMEOUT
519700:35:50.462592 ClipRequestDataForX11: returning VERR_TIMEOUT
519800:35:50.462607 clipReadVBoxClipboard: returning VERR_TIMEOUT
519900:35:50.462625 clipXtConvertSelectionProc: returning, internal status code VERR_TIMEOUT
520000:35:50.462938 clipXtConvertSelectionProc:
520100:35:50.462980 clipReadVBoxClipboard: pCtx=00007fc1a4001bc0, u32Format=01, ppv=00007fc18c1678a8, pcb=00007fc18c1678a4
520200:35:50.462998 ClipRequestDataForX11: pCtx=00007fc1a4001af0, u32Format=01, ppv=00007fc1a4001c00, pcb=00007fc1a4001c08
520300:35:50.463011 clipRequestDataFromVBox: pCtx=00007fc1a4001af0, pReq=00007fc18c1677d0, u32Format=01
520400:35:50.463021 clipWaitForDataFromVBox: pCtx=00007fc1a4001af0, pReq=00007fc18c1677d0, u32Format=01
520500:35:50.463031 vboxSvcClipboardReportMsg: ReadData 01
520600:35:55.463169 clipWaitForDataFromVBox: returning VERR_TIMEOUT
520700:35:55.463219 clipRequestDataFromVBox: returning VERR_TIMEOUT
520800:35:55.463253 ClipRequestDataForX11: returning VERR_TIMEOUT
520900:35:55.463269 clipReadVBoxClipboard: returning VERR_TIMEOUT
521000:35:55.463279 clipXtConvertSelectionProc: returning, internal status code VERR_TIMEOUT
521100:35:55.463527 clipXtConvertSelectionProc:
521200:35:55.463562 clipCreateX11Targets: called
521300:35:55.463575 clipXtConvertSelectionProc: returning, internal status code VINF_SUCCESS
521400:35:55.463870 clipXtConvertSelectionProc:
521500:35:55.463903 clipReadVBoxClipboard: pCtx=00007fc1a4001bc0, u32Format=01, ppv=00007fc18c1678a8, pcb=00007fc18c1678a4
521600:35:55.463918 ClipRequestDataForX11: pCtx=00007fc1a4001af0, u32Format=01, ppv=00007fc1a4001c00, pcb=00007fc1a4001c08
521700:35:55.463930 clipRequestDataFromVBox: pCtx=00007fc1a4001af0, pReq=00007fc18c1677d0, u32Format=01
521800:35:55.463940 clipWaitForDataFromVBox: pCtx=00007fc1a4001af0, pReq=00007fc18c1677d0, u32Format=01
521900:35:55.463949 vboxSvcClipboardReportMsg: ReadData 01
522000:36:00.464087 clipWaitForDataFromVBox: returning VERR_TIMEOUT
522100:36:00.464136 clipRequestDataFromVBox: returning VERR_TIMEOUT
522200:36:00.464149 ClipRequestDataForX11: returning VERR_TIMEOUT
522300:36:00.464157 clipReadVBoxClipboard: returning VERR_TIMEOUT
522400:36:00.464173 clipXtConvertSelectionProc: returning, internal status code VERR_TIMEOUT
522500:36:00.464420 clipXtConvertSelectionProc:
522600:36:00.464457 clipReadVBoxClipboard: pCtx=00007fc1a4001bc0, u32Format=01, ppv=00007fc18c1678a8, pcb=00007fc18c1678a4
522700:36:00.464472 ClipRequestDataForX11: pCtx=00007fc1a4001af0, u32Format=01, ppv=00007fc1a4001c00, pcb=00007fc1a4001c08
522800:36:00.464485 clipRequestDataFromVBox: pCtx=00007fc1a4001af0, pReq=00007fc18c1677d0, u32Format=01
522900:36:00.464495 clipWaitForDataFromVBox: pCtx=00007fc1a4001af0, pReq=00007fc18c1677d0, u32Format=01
523000:36:00.464503 vboxSvcClipboardReportMsg: ReadData 01
523100:36:05.464601 clipWaitForDataFromVBox: returning VERR_TIMEOUT
523200:36:05.464651 clipRequestDataFromVBox: returning VERR_TIMEOUT
523300:36:05.464672 ClipRequestDataForX11: returning VERR_TIMEOUT
523400:36:05.464680 clipReadVBoxClipboard: returning VERR_TIMEOUT
523500:36:05.464688 clipXtConvertSelectionProc: returning, internal status code VERR_TIMEOUT
523600:36:05.464920 clipXtConvertSelectionProc:
523700:36:05.464957 clipCreateX11Targets: called
523800:36:05.464968 clipXtConvertSelectionProc: returning, internal status code VINF_SUCCESS
523900:36:05.465116 clipXtConvertSelectionProc:
524000:36:05.465136 clipCreateX11Targets: called
524100:36:05.465152 clipXtConvertSelectionProc: returning, internal status code VINF_SUCCESS
524200:36:05.465339 clipXtConvertSelectionProc:
524300:36:05.465353 clipCreateX11Targets: called
524400:36:05.465361 clipXtConvertSelectionProc: returning, internal status code VINF_SUCCESS
524500:36:05.465467 clipXtConvertSelectionProc:
524600:36:05.465481 clipCreateX11Targets: called
524700:36:05.465489 clipXtConvertSelectionProc: returning, internal status code VINF_SUCCESS
524800:36:05.465831 clipXtConvertSelectionProc:
524900:36:05.465846 clipCreateX11Targets: called
525000:36:05.465854 clipXtConvertSelectionProc: returning, internal status code VINF_SUCCESS
525100:36:05.466419 clipXtConvertSelectionProc:
525200:36:05.466437 clipCreateX11Targets: called
525300:36:05.466446 clipXtConvertSelectionProc: returning, internal status code VINF_SUCCESS
525400:36:05.466950 svcCall: rc = VINF_SUCCESS
525500:36:05.467016 svcCall: u32ClientID = 16, fn = 1, cParms = 2, pparms = -1404177480
525600:36:05.467036 svcCall: VBOX_SHARED_CLIPBOARD_FN_GET_HOST_MSG
525700:36:05.467048 vboxSvcClipboardReturnMsg: ReadData 01
525800:36:05.467056 svcCall: rc = VINF_SUCCESS
525900:36:05.467079 clipNewVBoxFormatsWorker: u32Formats=1
526000:36:05.467119 clipNewVBoxFormatsWorker: returning
526100:36:05.467134 clipDrainWakeupPipe: called
526200:36:05.467157 clipXtConvertSelectionProc:
526300:36:05.467165 clipCreateX11Targets: called
526400:36:05.467174 clipXtConvertSelectionProc: returning, internal status code VINF_SUCCESS
526500:36:05.467485 clipXtConvertSelectionProc:
526600:36:05.467512 clipCreateX11Targets: called
526700:36:05.467522 clipXtConvertSelectionProc: returning, internal status code VINF_SUCCESS
526800:36:05.467810 svcCall: u32ClientID = 16, fn = 2, cParms = 1, pparms = -1403801416
526900:36:05.467855 svcCall: VBOX_SHARED_CLIPBOARD_FN_FORMATS
527000:36:05.467864 vboxClipboardFormatAnnounce: called. pClient=00007fc1b0005930, u32Formats=01
527100:36:05.467875 clipQueueToEventThread: proc=00007fc1c1947190, client_data=00007fc1a4013840
527200:36:05.468975 clipXtConvertSelectionProc:
527300:36:05.469002 clipCreateX11Targets: called
527400:36:05.469012 clipXtConvertSelectionProc: returning, internal status code VINF_SUCCESS
527500:36:05.469826 clipXtConvertSelectionProc:
527600:36:05.469853 clipCreateX11Targets: called
527700:36:05.469863 clipXtConvertSelectionProc: returning, internal status code VINF_SUCCESS
527800:36:05.471435 clipXtConvertSelectionProc:
527900:36:05.471477 clipCreateX11Targets: called
528000:36:05.471488 clipXtConvertSelectionProc: returning, internal status code VINF_SUCCESS
528100:36:05.471865 clipXtConvertSelectionProc:
528200:36:05.471892 clipCreateX11Targets: called
528300:36:05.471902 clipXtConvertSelectionProc: returning, internal status code VINF_SUCCESS
528400:36:05.472135 clipXtConvertSelectionProc:
528500:36:05.472161 clipCreateX11Targets: called
528600:36:05.472172 clipXtConvertSelectionProc: returning, internal status code VINF_SUCCESS
528700:36:05.472406 clipXtConvertSelectionProc:
528800:36:05.472432 clipCreateX11Targets: called
528900:36:05.472443 clipXtConvertSelectionProc: returning, internal status code VINF_SUCCESS
529000:36:05.472703 clipXtConvertSelectionProc:
529100:36:05.472729 clipCreateX11Targets: called
529200:36:05.472740 clipXtConvertSelectionProc: returning, internal status code VINF_SUCCESS
529300:36:05.473035 svcCall: rc = VINF_SUCCESS
529400:36:05.473100 clipNewVBoxFormatsWorker: u32Formats=1
529500:36:05.473143 svcCall: u32ClientID = 16, fn = 1, cParms = 2, pparms = -1404177480
529600:36:05.473164 svcCall: VBOX_SHARED_CLIPBOARD_FN_GET_HOST_MSG
529700:36:05.473176 vboxSvcClipboardReturnMsg: no message
529800:36:05.473186 clipNewVBoxFormatsWorker: returning
529900:36:05.473206 svcCall: async.
530000:36:05.473219 svcCall: rc = VINF_SUCCESS
530100:36:05.473237 clipDrainWakeupPipe: called
530200:36:05.473269 clipXtConvertSelectionProc:
530300:36:05.473280 clipXtConvertSelectionProc: returning, internal status code VERR_NOT_SUPPORTED
530400:36:05.475088 clipXtConvertSelectionProc:
530500:36:05.475120 clipCreateX11Targets: called
530600:36:05.475131 clipXtConvertSelectionProc: returning, internal status code VINF_SUCCESS
530700:36:05.475180 svcCall: u32ClientID = 16, fn = 4, cParms = 2, pparms = -1404181576
530800:36:05.475209 svcCall: VBOX_SHARED_CLIPBOARD_FN_WRITE_DATA
530900:36:05.475217 vboxClipboardWriteData: called. pClient=00007fc1b0005930, pv=00007fc1ac4de3e8 (frictions are negligible in financial
531000:36:05.475227 markets and information is reasonably homogenous
531100:36:05.475230 among market participants. While the second simplification
531200:36:05.475234 is less relevant for arbitrage pricing, both are
531300:36:05.475238 needed for equilibrium-based pricing models.), cb=488, u32Format=01
531400:36:05.475248 svcCall: rc = VINF_SUCCESS
531500:36:05.475297 clipXtConvertSelectionProc:
531600:36:05.475312 clipCreateX11Targets: called
531700:36:05.475320 clipXtConvertSelectionProc: returning, internal status code VINF_SUCCESS
531800:36:05.476493 clipXtConvertSelectionProc:
531900:36:05.476513 clipCreateX11Targets: called
532000:36:05.476523 clipXtConvertSelectionProc: returning, internal status code VINF_SUCCESS
532100:36:05.476847 clipXtConvertSelectionProc:
532200:36:05.476863 clipCreateX11Targets: called
532300:36:05.476872 clipXtConvertSelectionProc: returning, internal status code VINF_SUCCESS
532400:36:05.477015 clipXtConvertSelectionProc:
532500:36:05.477023 clipCreateX11Targets: called
532600:36:05.477031 clipXtConvertSelectionProc: returning, internal status code VINF_SUCCESS
532700:36:05.477121 clipXtConvertSelectionProc:
532800:36:05.477131 clipCreateX11Targets: called
532900:36:05.477139 clipXtConvertSelectionProc: returning, internal status code VINF_SUCCESS
533000:36:05.477597 clipXtConvertSelectionProc:
533100:36:05.477628 clipCreateX11Targets: called
533200:36:05.477639 clipXtConvertSelectionProc: returning, internal status code VINF_SUCCESS
533300:36:05.477862 clipXtConvertSelectionProc:
533400:36:05.477877 clipCreateX11Targets: called
533500:36:05.477905 clipXtConvertSelectionProc: returning, internal status code VINF_SUCCESS
533600:36:05.478070 clipXtConvertSelectionProc:
533700:36:05.478083 clipReadVBoxClipboard: pCtx=00007fc1a4001bc0, u32Format=01, ppv=00007fc18c1678a8, pcb=00007fc18c1678a4
533800:36:05.478096 ClipRequestDataForX11: pCtx=00007fc1a4001af0, u32Format=01, ppv=00007fc1a4001c00, pcb=00007fc1a4001c08
533900:36:05.478107 clipRequestDataFromVBox: pCtx=00007fc1a4001af0, pReq=00007fc18c1677d0, u32Format=01
534000:36:05.478116 clipWaitForDataFromVBox: pCtx=00007fc1a4001af0, pReq=00007fc18c1677d0, u32Format=01
534100:36:05.478125 vboxSvcClipboardReportMsg: ReadData 01
534200:36:05.478132 vboxSvcClipboardReturnMsg: ReadData 01
534300:36:05.478138 vboxSvcClipboardReportMsg: CallComplete
534400:36:05.575955 svcDisconnect: u32ClientID = 16
534500:36:05.576006 vboxSvcClipboardReportMsg: Quit
534600:36:05.576017 vboxClipboardDisconnect
534700:36:05.576024 Stopping the host clipboard service
534800:36:05.576032 vboxClipboardWriteData: called. pClient=00007fc1b0005930, pv=0000000000000000 (), cb=0, u32Format=00
534900:36:05.576062 ClipStopX11: stopping the shared clipboard X11 backend
535000:36:05.576070 clipQueueToEventThread: proc=00007fc1c1946ed0, client_data=00007fc1a4001bc0
535100:36:05.576094 clipWaitForDataFromVBox: returning VERR_NO_DATA
535200:36:05.576126 clipRequestDataFromVBox: returning VERR_NO_DATA
535300:36:05.576138 ClipRequestDataForX11: returning VERR_NO_DATA
535400:36:05.576147 clipReadVBoxClipboard: returning VERR_NO_DATA
535500:36:05.576156 clipXtConvertSelectionProc: returning, internal status code VERR_NO_DATA
535600:36:05.576403 clipXtConvertSelectionProc:
535700:36:05.576432 clipReadVBoxClipboard: pCtx=00007fc1a4001bc0, u32Format=01, ppv=00007fc18c1678a8, pcb=00007fc18c1678a4
535800:36:05.576446 ClipRequestDataForX11: pCtx=00007fc1a4001af0, u32Format=01, ppv=00007fc1a4001c00, pcb=00007fc1a4001c08
535900:36:05.576457 ClipRequestDataForX11: host requested guest clipboard data after guest had disconnected.
536000:36:05.576465 clipReadVBoxClipboard: returning VERR_WRONG_ORDER
536100:36:05.576475 clipXtConvertSelectionProc: returning, internal status code VERR_WRONG_ORDER
536200:36:05.576816 clipXtConvertSelectionProc:
536300:36:05.576842 clipCreateX11Targets: called
536400:36:05.576854 clipXtConvertSelectionProc: returning, internal status code VINF_SUCCESS
536500:36:05.577032 clipXtConvertSelectionProc:
536600:36:05.577059 clipCreateX11Targets: called
536700:36:05.577070 clipXtConvertSelectionProc: returning, internal status code VINF_SUCCESS
536800:36:05.577351 clipXtConvertSelectionProc:
536900:36:05.577368 clipCreateX11Targets: called
537000:36:05.577378 clipXtConvertSelectionProc: returning, internal status code VINF_SUCCESS
537100:36:05.577530 clipXtConvertSelectionProc:
537200:36:05.577545 clipCreateX11Targets: called
537300:36:05.577554 clipXtConvertSelectionProc: returning, internal status code VINF_SUCCESS
537400:36:05.577915 clipXtConvertSelectionProc:
537500:36:05.577944 clipCreateX11Targets: called
537600:36:05.577955 clipXtConvertSelectionProc: returning, internal status code VINF_SUCCESS
537700:36:05.578445 Shared clipboard: Shared clipboard thread terminated successfully
537800:36:05.579079 ClipStopX11: returning VINF_SUCCESS.
537900:36:05.583924 VMMDev: Guest Additions capability report: (0x5 -> 0x0) seamless: no, hostWindowMapping: no, graphics: no
538000:36:05.584232 GUI: UISession::sltAdditionsChange: GA state really changed, notifying listeners.
538100:36:05.584286 GUI: UIMachineLogicFullscreen: Additions-state actual-change event, rebuild multi-screen layout
538200:36:05.585798 GUI: UIMultiScreenLayout::update: GUI/AutomountGuestScreens is disabled
538300:36:05.585881 GUI: UIMachineViewFullscreen::adjustGuestScreenSize: Adjust guest-screen size if necessary.
538400:36:05.585894 GUI: UISession::sltAdditionsChange: GA state change event came, notifying listeners.
538500:36:10.570935 GUI: UISession::sltAdditionsChange: GA state change event came, notifying listeners.
538600:36:10.586643 GUI: UISession::sltAdditionsChange: GA state change event came, notifying listeners.
538700:36:10.586780 GUI: UISession::sltAdditionsChange: GA state change event came, notifying listeners.
538800:36:10.586997 GUI: UISession::sltAdditionsChange: GA state change event came, notifying listeners.
538900:36:30.603742 PIIX3 ATA: LUN#0: IDLE IMMEDIATE, CmdIf=0xe7 (-1 usec ago)
539000:36:30.603763 PIIX3 ATA: LUN#0: aborting current command
539100:36:32.434277 VMMDev: Guest requests the VM to be turned off
539200:36:32.434329 Changing the VM state from 'RUNNING' to 'POWERING_OFF'
539300:36:32.434356 ****************** Guest state at power off for VCpu 0 ******************
539400:36:32.434387 Guest CPUM (VCPU 0) state:
539500:36:32.434394 eax=02571094 ebx=823810e8 ecx=00000000 edx=0257d040 esi=82371094 edi=00000006
539600:36:32.434402 eip=f849e108 esp=f8addc98 ebp=f8addc9c iopl=0 nv up ei nt zr ac po cy
539700:36:32.434409 cs={0008 base=0000000000000000 limit=ffffffff flags=0000c09b} dr0=00000000 dr1=00000000
539800:36:32.434419 ds={0023 base=0000000000000000 limit=ffffffff flags=0000c0f3} dr2=00000000 dr3=00000000
539900:36:32.434425 es={0023 base=0000000000000000 limit=ffffffff flags=0000c0f3} dr4=00000000 dr5=00000000
540000:36:32.434430 fs={0030 base=00000000ffdff000 limit=00001fff flags=0000c093} dr6=ffff0ff0 dr7=00000400
540100:36:32.434437 gs={0000 base=0000000000000000 limit=ffffffff flags=0001c000} cr0=8001003b cr2=f72ed8fe
540200:36:32.434443 ss={0010 base=0000000000000000 limit=ffffffff flags=0000c093} cr3=0031e000 cr4=000006f9
540300:36:32.434450 gdtr=000000008003f000:03ff idtr=000000008003f400:07ff eflags=00000297
540400:36:32.434456 ldtr={0000 base=00000000 limit=ffffffff flags=0001c000}
540500:36:32.434461 tr ={0028 base=80042000 limit=000020ab flags=0000008b}
540600:36:32.434465 SysEnter={cs=0008 eip=8053d540 esp=f8ac2000}
540700:36:32.434469 xcr=0000000000000001 xcr1=0000000000000000 xss=0000000000000000 (fXStateMask=0000000000000000)
540800:36:32.434475 FCW=027f FSW=0000 FTW=0000 FOP=0000 MXCSR=00001f80 MXCSR_MASK=0000ffff
540900:36:32.434480 FPUIP=00000000 CS=0000 Rsrvd1=0000 FPUDP=00000000 DS=0000 Rsvrd2=0000
541000:36:32.434485 ST(0)=FPR0={0000'00000000'00000000} t0 +0.0000000000000000000000 * 2 ^ -16383 (*)
541100:36:32.434495 ST(1)=FPR1={0000'00000000'00000000} t0 +0.0000000000000000000000 * 2 ^ -16383 (*)
541200:36:32.434501 ST(2)=FPR2={0000'00000000'00000000} t0 +0.0000000000000000000000 * 2 ^ -16383 (*)
541300:36:32.434506 ST(3)=FPR3={0000'00000000'00000000} t0 +0.0000000000000000000000 * 2 ^ -16383 (*)
541400:36:32.434511 ST(4)=FPR4={0000'00000000'00000000} t0 +0.0000000000000000000000 * 2 ^ -16383 (*)
541500:36:32.434516 ST(5)=FPR5={0000'00000000'00000000} t0 +0.0000000000000000000000 * 2 ^ -16383 (*)
541600:36:32.434520 ST(6)=FPR6={0000'00000000'00000000} t0 +0.0000000000000000000000 * 2 ^ -16383 (*)
541700:36:32.434525 ST(7)=FPR7={0000'00000000'00000000} t0 +0.0000000000000000000000 * 2 ^ -16383 (*)
541800:36:32.434530 XMM0 =00000000'00000000'00000000'00000000 XMM1 =00000000'00000000'00000000'00000000
541900:36:32.434538 XMM2 =00000000'00000000'00000000'00000000 XMM3 =00000000'00000000'00000000'00000000
542000:36:32.434544 XMM4 =00000000'00000000'00000000'00000000 XMM5 =00000000'00000000'00000000'00000000
542100:36:32.434550 XMM6 =00000000'00000000'00000000'00000000 XMM7 =00000000'00000000'00000000'00000000
542200:36:32.434556 XMM8 =00000000'00000000'00000000'00000000 XMM9 =00000000'00000000'00000000'00000000
542300:36:32.434562 XMM10=00000000'00000000'00000000'00000000 XMM11=00000000'00000000'00000000'00000000
542400:36:32.434568 XMM12=00000000'00000000'00000000'00000000 XMM13=00000000'00000000'00000000'00000000
542500:36:32.434574 XMM14=00000000'00000000'00000000'00000000 XMM15=00000000'00000000'00000000'00000000
542600:36:32.434580 EFER =0000000000000800
542700:36:32.434582 PAT =0007010600070106
542800:36:32.434586 STAR =0000000000000000
542900:36:32.434588 CSTAR =0000000000000000
543000:36:32.434590 LSTAR =0000000000000000
543100:36:32.434592 SFMASK =0000000000000000
543200:36:32.434593 KERNELGSBASE =0000000000000000
543300:36:32.434598 ***
543400:36:32.434615 Guest paging mode (VCPU #0): PAE+NX (changed 1987 times), A20 enabled (changed 2 times)
543500:36:32.434622 Shadow paging mode (VCPU #0): EPT
543600:36:32.434624 Host paging mode: AMD64+G+NX
543700:36:32.434627 ***
543800:36:32.434631 Active Timers (pVM=00007fc1c2d61000)
543900:36:32.434634 pTimerR3 offNext offPrev offSched Clock Time Expire HzHint State Description
544000:36:32.434643 00007fc1c0dd7300 00009ea0 00000000 00000000 Real 101255823 101255839 0 2-ACTIVE VGA Refresh Timer
544100:36:32.434656 00007fc1c0de11a0 ffffff80 ffff6160 00000000 Real 101255823 101255846 0 2-ACTIVE EMT Yielder
544200:36:32.434699 00007fc1c0de1120 00000000 00000080 00000000 Real 101255824 101255889 0 2-ACTIVE CPU Load Timer
544300:36:32.434708 00007fc1c0ddbe90 ffffa850 00000000 00000000 Virt 2192048865568 2192048911485 0 2-ACTIVE DevIchAc97
544400:36:32.434719 00007fc1c0dd66e0 00000000 000057b0 00000000 Virt 2192048876136 2196048058416 0 2-ACTIVE Heartbeat flatlined
544500:36:32.434729 00007fc1c0dceb60 000005e0 00000000 00000000 VrSy 2192048658218 2192057735249 99 2-ACTIVE i8254 Programmable Interval Timer
544600:36:32.434739 00007fc1c0dcf140 00011d40 fffffa20 00000000 VrSy 2192048668723 2192990000000 0 2-ACTIVE MC146818 RTC/CMOS - Second
544700:36:32.434749 00007fc1c0de0e80 00000000 fffee2c0 00000000 VrSy 2192048678797 2399728063764 0 2-ACTIVE ACPI PM Timer
544800:36:32.434758 ***
544900:36:32.434765 ************** End of Guest state at power off ***************
545000:36:32.579901 PDMR3PowerOff: 145 084 231 ns run time
545100:36:32.579950 Changing the VM state from 'POWERING_OFF' to 'OFF'
545200:36:32.581466 Console: Machine state changed to 'Stopping'
545300:36:32.582048 Console::powerDown(): A request to power off the VM has been issued (mMachineState=Stopping, InUninit=0)
545400:36:32.582078 Display::handleDisplayResize: uScreenId=0 pvVRAM=00007fc198022000 w=1920 h=1200 bpp=32 cbLine=0x1E00 flags=0x1
545500:36:32.582133 GUI: UIFrameBufferPrivate::NotifyChange: Screen=0, Origin=0x0, Size=1920x1200, Sending to async-handler
545600:36:32.582872 GUI: UIMachineView::sltHandleNotifyChange: Screen=0, Size=1920x1200
545700:36:32.587677 Changing the VM state from 'OFF' to 'DESTROYING'
545800:36:32.587777 ************************* Statistics *************************
545900:36:32.587916 /CPUM/MSR-Totals/Reads 13 times
546000:36:32.587930 /CPUM/MSR-Totals/ReadsRaisingGP 0 times
546100:36:32.587937 /CPUM/MSR-Totals/ReadsUnknown 0 times
546200:36:32.587945 /CPUM/MSR-Totals/Writes 9 times
546300:36:32.587952 /CPUM/MSR-Totals/WritesRaisingGP 0 times
546400:36:32.587959 /CPUM/MSR-Totals/WritesToIgnoredBits 0 times
546500:36:32.587965 /CPUM/MSR-Totals/WritesUnknown 0 times
546600:36:32.587972 /Devices/IDE0/ATA0/Unit0/AtapiDMA 0 times
546700:36:32.587979 /Devices/IDE0/ATA0/Unit0/AtapiPIO 0 times
546800:36:32.587985 /Devices/IDE0/ATA0/Unit0/DMA 14086 times
546900:36:32.587993 /Devices/IDE0/ATA0/Unit0/PIO 2348 times
547000:36:32.588000 /Devices/IDE0/ATA0/Unit0/ReadBytes 336545792 bytes
547100:36:32.588008 /Devices/IDE0/ATA0/Unit0/WrittenBytes 39573504 bytes
547200:36:32.588015 /Devices/IDE0/ATA0/Unit1/AtapiDMA 0 times
547300:36:32.588021 /Devices/IDE0/ATA0/Unit1/AtapiPIO 0 times
547400:36:32.588029 /Devices/IDE0/ATA0/Unit1/DMA 960 times
547500:36:32.588036 /Devices/IDE0/ATA0/Unit1/PIO 20 times
547600:36:32.588043 /Devices/IDE0/ATA0/Unit1/ReadBytes 3752448 bytes
547700:36:32.588050 /Devices/IDE0/ATA0/Unit1/WrittenBytes 1980416 bytes
547800:36:32.588057 /Devices/IDE0/ATA1/Unit0/AtapiDMA 28 times
547900:36:32.588064 /Devices/IDE0/ATA1/Unit0/AtapiPIO 2198 times
548000:36:32.588071 /Devices/IDE0/ATA1/Unit0/DMA 0 times
548100:36:32.588078 /Devices/IDE0/ATA1/Unit0/PIO 0 times
548200:36:32.588086 /Devices/IDE0/ATA1/Unit0/ReadBytes 45056 bytes
548300:36:32.588093 /Devices/IDE0/ATA1/Unit0/WrittenBytes 0 bytes
548400:36:32.588100 /Devices/IDE0/ATA1/Unit1/AtapiDMA 0 times
548500:36:32.588106 /Devices/IDE0/ATA1/Unit1/AtapiPIO 0 times
548600:36:32.588113 /Devices/IDE0/ATA1/Unit1/DMA 0 times
548700:36:32.588143 /Devices/IDE0/ATA1/Unit1/PIO 0 times
548800:36:32.588152 /Devices/IDE0/ATA1/Unit1/ReadBytes 0 bytes
548900:36:32.588162 /Devices/IDE0/ATA1/Unit1/WrittenBytes 0 bytes
549000:36:32.588173 /Devices/PCNet0/ReceiveBytes 237661123 bytes
549100:36:32.588182 /Devices/PCNet0/TransmitBytes 2411724 bytes
549200:36:32.588190 /Devices/VMMDev/BalloonChunks 0 count
549300:36:32.588199 /Drivers/IntNet-0/BadFrames 0 count
549400:36:32.588208 /Drivers/IntNet-0/Bytes/Received 237022535 bytes
549500:36:32.588216 /Drivers/IntNet-0/Bytes/Sent 2411724 bytes
549600:36:32.588226 /Drivers/IntNet-0/Overflows/Recv 0 count
549700:36:32.588234 /Drivers/IntNet-0/Overflows/Sent 0 count
549800:36:32.588243 /Drivers/IntNet-0/Packets/Lost 0 count
549900:36:32.588251 /Drivers/IntNet-0/Packets/Received 163609 count
550000:36:32.588262 /Drivers/IntNet-0/Packets/Received-Gso 0 count
550100:36:32.588270 /Drivers/IntNet-0/Packets/Sent 20086 count
550200:36:32.588278 /Drivers/IntNet-0/Packets/Sent-Gso 0 count
550300:36:32.588288 /Drivers/IntNet-0/Packets/Sent-R0 20086 count
550400:36:32.588299 /Drivers/IntNet-0/Recv1 0 ticks/call ( 0 ticks, 0 times, max 0, min -1)
550500:36:32.588314 /Drivers/IntNet-0/Recv2 0 ticks/call ( 0 ticks, 0 times, max 0, min -1)
550600:36:32.588329 /Drivers/IntNet-0/Reserved 0 ticks/call ( 0 ticks, 0 times, max 0, min -1)
550700:36:32.588339 /Drivers/IntNet-0/Send1 49585 ticks/call ( 995984237 ticks, 20086 times, max 447819, min 5248)
550800:36:32.588357 /Drivers/IntNet-0/Send2 46994 ticks/call ( 943785176 ticks, 20083 times, max 444316, min 6044)
550900:36:32.588369 /Drivers/IntNet-0/XmitProcessRing 0 count
551000:36:32.588401 /Drivers/IntNet-0/XmitWakeup-R0 0 count
551100:36:32.588409 /Drivers/IntNet-0/XmitWakeup-R3 0 count
551200:36:32.588415 /Drivers/IntNet-0/YieldNok 0 count
551300:36:32.588421 /Drivers/IntNet-0/YieldOk 0 count
551400:36:32.588428 /FT/Checkpoint/Network 0 times
551500:36:32.588435 /FT/Checkpoint/Storage 0 times
551600:36:32.588442 /FT/Received/Mem 0 bytes
551700:36:32.588449 /FT/Received/State 0 bytes
551800:36:32.588456 /FT/Sent/Mem 0 bytes
551900:36:32.588463 /FT/Sent/State 0 bytes
552000:36:32.588470 /FT/Sync/DeltaMem 0 times
552100:36:32.588477 /FT/Sync/DeltaVM 0 times
552200:36:32.588484 /FT/Sync/Full 0 times
552300:36:32.588492 /GMM/VM/Allocated/cBasePages 131188 pages
552400:36:32.588499 /GMM/VM/Allocated/cFixedPages 0 pages
552500:36:32.588506 /GMM/VM/Allocated/cShadowPages 0 pages
552600:36:32.588513 /GMM/VM/Reserved/cBasePages 131230 pages
552700:36:32.588519 /GMM/VM/Reserved/cFixedPages 9220 pages
552800:36:32.588527 /GMM/VM/Reserved/cShadowPages 1 pages
552900:36:32.588533 /GMM/VM/cBalloonedPages 0 pages
553000:36:32.588540 /GMM/VM/cMaxBalloonedPages 0 pages
553100:36:32.588546 /GMM/VM/cPrivatePages 131188 pages
553200:36:32.588553 /GMM/VM/cReqActuallyBalloonedPages 0 pages
553300:36:32.588559 /GMM/VM/cReqBalloonedPages 0 pages
553400:36:32.588566 /GMM/VM/cReqDeflatePages 0 pages
553500:36:32.588572 /GMM/VM/cShareableModules 0 count
553600:36:32.588579 /GMM/VM/cSharedPages 0 pages
553700:36:32.588586 /GMM/VM/enmPolicy 1
553800:36:32.588593 /GMM/VM/enmPriority 2
553900:36:32.588600 /GMM/VM/fBallooningEnabled false
554000:36:32.588606 /GMM/VM/fMayAllocate true
554100:36:32.588613 /GMM/VM/fSharedPagingEnabled false
554200:36:32.588620 /GMM/cAllocatedPages 131188 pages
554300:36:32.588627 /GMM/cBalloonedPages 0 pages
554400:36:32.588634 /GMM/cChunks 257 count
554500:36:32.588641 /GMM/cDuplicatePages 0 pages
554600:36:32.588655 /GMM/cFreedChunks 0 count
554700:36:32.588662 /GMM/cLeftBehindSharedPages 0 pages
554800:36:32.588669 /GMM/cMaxPages 4294967295 pages
554900:36:32.588677 /GMM/cOverCommittedPages 0 pages
555000:36:32.588683 /GMM/cReservedPages 140451 pages
555100:36:32.588691 /GMM/cShareableModules 0 count
555200:36:32.588697 /GMM/cSharedPages 0 pages
555300:36:32.588704 /GVMM/EMTs 1 calls
555400:36:32.588711 /GVMM/HostCPUs 4 calls
555500:36:32.588719 /GVMM/HostCpus/0 0
555600:36:32.588726 /GVMM/HostCpus/0/CurTimerHz 0 Hz
555700:36:32.588732 /GVMM/HostCpus/0/DesiredHz 0 Hz
555800:36:32.588739 /GVMM/HostCpus/0/PPTChanges 0 times
555900:36:32.588746 /GVMM/HostCpus/0/PPTStarts 0 times
556000:36:32.588752 /GVMM/HostCpus/0/idxCpuSet 0
556100:36:32.588759 /GVMM/HostCpus/1 1
556200:36:32.588766 /GVMM/HostCpus/1/CurTimerHz 0 Hz
556300:36:32.588773 /GVMM/HostCpus/1/DesiredHz 0 Hz
556400:36:32.588779 /GVMM/HostCpus/1/PPTChanges 0 times
556500:36:32.588785 /GVMM/HostCpus/1/PPTStarts 0 times
556600:36:32.588792 /GVMM/HostCpus/1/idxCpuSet 1
556700:36:32.588799 /GVMM/HostCpus/2 2
556800:36:32.588806 /GVMM/HostCpus/2/CurTimerHz 0 Hz
556900:36:32.588813 /GVMM/HostCpus/2/DesiredHz 0 Hz
557000:36:32.588819 /GVMM/HostCpus/2/PPTChanges 0 times
557100:36:32.588826 /GVMM/HostCpus/2/PPTStarts 0 times
557200:36:32.588832 /GVMM/HostCpus/2/idxCpuSet 2
557300:36:32.588839 /GVMM/HostCpus/3 3
557400:36:32.588846 /GVMM/HostCpus/3/CurTimerHz 0 Hz
557500:36:32.588852 /GVMM/HostCpus/3/DesiredHz 0 Hz
557600:36:32.588859 /GVMM/HostCpus/3/PPTChanges 0 times
557700:36:32.588865 /GVMM/HostCpus/3/PPTStarts 0 times
557800:36:32.588872 /GVMM/HostCpus/3/idxCpuSet 3
557900:36:32.588878 /GVMM/Sum/HaltBlocking 929858 calls
558000:36:32.588886 /GVMM/Sum/HaltCalls 930603 calls
558100:36:32.588893 /GVMM/Sum/HaltNotBlocking 745 calls
558200:36:32.588900 /GVMM/Sum/HaltTimeouts 613279 calls
558300:36:32.588907 /GVMM/Sum/HaltWakeUps 0 calls
558400:36:32.588913 /GVMM/Sum/PokeCalls 12759 calls
558500:36:32.588920 /GVMM/Sum/PokeNotBusy 453 calls
558600:36:32.588927 /GVMM/Sum/PollCalls 0 calls
558700:36:32.588934 /GVMM/Sum/PollHalts 0 calls
558800:36:32.588940 /GVMM/Sum/PollWakeUps 0 calls
558900:36:32.588947 /GVMM/Sum/WakeUpCalls 317889 calls
559000:36:32.588954 /GVMM/Sum/WakeUpNotHalted 216451 calls
559100:36:32.588961 /GVMM/Sum/WakeUpWakeUps 0 calls
559200:36:32.588967 /GVMM/VM/HaltBlocking 929858 calls
559300:36:32.588974 /GVMM/VM/HaltCalls 930603 calls
559400:36:32.588982 /GVMM/VM/HaltNotBlocking 745 calls
559500:36:32.588988 /GVMM/VM/HaltTimeouts 613279 calls
559600:36:32.588995 /GVMM/VM/HaltWakeUps 0 calls
559700:36:32.589002 /GVMM/VM/PokeCalls 12759 calls
559800:36:32.589009 /GVMM/VM/PokeNotBusy 453 calls
559900:36:32.589015 /GVMM/VM/PollCalls 0 calls
560000:36:32.589022 /GVMM/VM/PollHalts 0 calls
560100:36:32.589029 /GVMM/VM/PollWakeUps 0 calls
560200:36:32.589035 /GVMM/VM/WakeUpCalls 317889 calls
560300:36:32.589042 /GVMM/VM/WakeUpNotHalted 216451 calls
560400:36:32.589049 /GVMM/VM/WakeUpWakeUps 0 calls
560500:36:32.589056 /GVMM/VMs 1 calls
560600:36:32.589063 /HM/CPU0/Exit/HostNmiInGC 0 times
560700:36:32.589070 /HM/CPU0/Switch/Preempting 183 times
560800:36:32.589077 /IEM/CPU0/CodeTlb-Misses 0 count
560900:36:32.589084 /IEM/CPU0/CodeTlb-PhysRev ffffffffffff9c00
561000:36:32.589092 /IEM/CPU0/CodeTlb-Revision fffff38000000000
561100:36:32.589106 /IEM/CPU0/CodeTlb-SlowReads 0
561200:36:32.589113 /IEM/CPU0/DataTlb-Misses 0 count
561300:36:32.589120 /IEM/CPU0/DataTlb-PhysRev ffffffffffff9c00
561400:36:32.589127 /IEM/CPU0/DataTlb-Revision fffff38000000000
561500:36:32.589135 /IEM/CPU0/cInstructions 178098 count
561600:36:32.589142 /IEM/CPU0/cLongJumps 0 bytes
561700:36:32.589149 /IEM/CPU0/cPendingCommit 0 bytes
561800:36:32.589156 /IEM/CPU0/cPotentialExits 271507 count
561900:36:32.589163 /IEM/CPU0/cRetAspectNotImplemented 0 count
562000:36:32.589169 /IEM/CPU0/cRetErrStatuses 0 count
562100:36:32.589175 /IEM/CPU0/cRetInfStatuses 21 count
562200:36:32.589182 /IEM/CPU0/cRetInstrNotImplemented 0 count
562300:36:32.589188 /IEM/CPU0/cbWritten 278083 bytes
562400:36:32.589196 /MM/HyperHeap/cbFree 850928 bytes
562500:36:32.589203 /MM/HyperHeap/cbHeap 1048256 bytes
562600:36:32.589211 /PDM/BlkCache/cbCached 0 bytes
562700:36:32.589218 /PDM/BlkCache/cbCachedFru 0 bytes
562800:36:32.589224 /PDM/BlkCache/cbCachedMruIn 0 bytes
562900:36:32.589230 /PDM/BlkCache/cbCachedMruOut 0 bytes
563000:36:32.589237 /PDM/BlkCache/cbMax 5242880 bytes
563100:36:32.589244 /PDM/CritSects/8237A#0Auto/ContentionR3 0 times
563200:36:32.589251 /PDM/CritSects/8237A#0Auto/ContentionRZLock 0 times
563300:36:32.589257 /PDM/CritSects/8237A#0Auto/ContentionRZUnlock 0 times
563400:36:32.589263 /PDM/CritSects/ATA#0-Ctl/ContentionR3 0 times
563500:36:32.589270 /PDM/CritSects/ATA#0-Ctl/ContentionRZLock 0 times
563600:36:32.589276 /PDM/CritSects/ATA#0-Ctl/ContentionRZUnlock 0 times
563700:36:32.589282 /PDM/CritSects/ATA#0-Req/ContentionR3 0 times
563800:36:32.589288 /PDM/CritSects/ATA#0-Req/ContentionRZLock 0 times
563900:36:32.589294 /PDM/CritSects/ATA#0-Req/ContentionRZUnlock 0 times
564000:36:32.589300 /PDM/CritSects/ATA#1-Ctl/ContentionR3 0 times
564100:36:32.589306 /PDM/CritSects/ATA#1-Ctl/ContentionRZLock 0 times
564200:36:32.589312 /PDM/CritSects/ATA#1-Ctl/ContentionRZUnlock 0 times
564300:36:32.589319 /PDM/CritSects/ATA#1-Req/ContentionR3 0 times
564400:36:32.589325 /PDM/CritSects/ATA#1-Req/ContentionRZLock 0 times
564500:36:32.589331 /PDM/CritSects/ATA#1-Req/ContentionRZUnlock 0 times
564600:36:32.589337 /PDM/CritSects/EHCI#0Irq/ContentionR3 0 times
564700:36:32.589343 /PDM/CritSects/EHCI#0Irq/ContentionRZLock 0 times
564800:36:32.589350 /PDM/CritSects/EHCI#0Irq/ContentionRZUnlock 0 times
564900:36:32.589356 /PDM/CritSects/EM-REM/ContentionR3 0 times
565000:36:32.589362 /PDM/CritSects/EM-REM/ContentionRZLock 0 times
565100:36:32.589368 /PDM/CritSects/EM-REM/ContentionRZUnlock 0 times
565200:36:32.589374 /PDM/CritSects/FTM/ContentionR3 0 times
565300:36:32.589381 /PDM/CritSects/FTM/ContentionRZLock 0 times
565400:36:32.589387 /PDM/CritSects/FTM/ContentionRZUnlock 0 times
565500:36:32.589394 /PDM/CritSects/IntNetXmit_0/ContentionR3 0 times
565600:36:32.589400 /PDM/CritSects/IntNetXmit_0/ContentionRZLock 0 times
565700:36:32.589406 /PDM/CritSects/IntNetXmit_0/ContentionRZUnlock 0 times
565800:36:32.589434 /PDM/CritSects/MM-HYPER/ContentionR3 0 times
565900:36:32.589440 /PDM/CritSects/MM-HYPER/ContentionRZLock 0 times
566000:36:32.589446 /PDM/CritSects/MM-HYPER/ContentionRZUnlock 0 times
566100:36:32.589453 /PDM/CritSects/NOP/ContentionR3 0 times
566200:36:32.589459 /PDM/CritSects/NOP/ContentionRZLock 0 times
566300:36:32.589465 /PDM/CritSects/NOP/ContentionRZUnlock 0 times
566400:36:32.589472 /PDM/CritSects/OHCI#0Irq/ContentionR3 0 times
566500:36:32.589496 /PDM/CritSects/OHCI#0Irq/ContentionRZLock 0 times
566600:36:32.589502 /PDM/CritSects/OHCI#0Irq/ContentionRZUnlock 0 times
566700:36:32.589508 /PDM/CritSects/PCNet#0/ContentionR3 0 times
566800:36:32.589515 /PDM/CritSects/PCNet#0/ContentionRZLock 0 times
566900:36:32.589521 /PDM/CritSects/PCNet#0/ContentionRZUnlock 0 times
567000:36:32.589533 /PDM/CritSects/PDM/ContentionR3 0 times
567100:36:32.589540 /PDM/CritSects/PDM/ContentionRZLock 0 times
567200:36:32.589546 /PDM/CritSects/PDM/ContentionRZUnlock 0 times
567300:36:32.589552 /PDM/CritSects/PGM/ContentionR3 0 times
567400:36:32.589559 /PDM/CritSects/PGM/ContentionRZLock 0 times
567500:36:32.589565 /PDM/CritSects/PGM/ContentionRZUnlock 0 times
567600:36:32.589571 /PDM/CritSects/REM-Register/ContentionR3 0 times
567700:36:32.589577 /PDM/CritSects/REM-Register/ContentionRZLock 0 times
567800:36:32.589583 /PDM/CritSects/REM-Register/ContentionRZUnlock 0 times
567900:36:32.589590 /PDM/CritSects/TM Timer Lock/ContentionR3 0 times
568000:36:32.589596 /PDM/CritSects/TM Timer Lock/ContentionRZLock 0 times
568100:36:32.589602 /PDM/CritSects/TM Timer Lock/ContentionRZUnlock 0 times
568200:36:32.589608 /PDM/CritSects/TM VirtualSync Lock/ContentionR3 0 times
568300:36:32.589615 /PDM/CritSects/TM VirtualSync Lock/ContentionRZLock 0 times
568400:36:32.589621 /PDM/CritSects/TM VirtualSync Lock/ContentionRZUnlock 0 times
568500:36:32.589627 /PDM/CritSects/VGA#0/ContentionR3 0 times
568600:36:32.589633 /PDM/CritSects/VGA#0/ContentionRZLock 0 times
568700:36:32.589639 /PDM/CritSects/VGA#0/ContentionRZUnlock 0 times
568800:36:32.589646 /PDM/CritSects/VGA#0_IRQ/ContentionR3 0 times
568900:36:32.589652 /PDM/CritSects/VGA#0_IRQ/ContentionRZLock 0 times
569000:36:32.589658 /PDM/CritSects/VGA#0_IRQ/ContentionRZUnlock 0 times
569100:36:32.589664 /PDM/CritSects/VMMDev#0/ContentionR3 0 times
569200:36:32.589671 /PDM/CritSects/VMMDev#0/ContentionRZLock 0 times
569300:36:32.589677 /PDM/CritSects/VMMDev#0/ContentionRZUnlock 0 times
569400:36:32.589683 /PDM/CritSects/acpi#0/ContentionR3 0 times
569500:36:32.589689 /PDM/CritSects/acpi#0/ContentionRZLock 0 times
569600:36:32.589695 /PDM/CritSects/acpi#0/ContentionRZUnlock 0 times
569700:36:32.589702 /PDM/CritSects/ichac97#0Auto/ContentionR3 0 times
569800:36:32.589708 /PDM/CritSects/ichac97#0Auto/ContentionRZLock 0 times
569900:36:32.589714 /PDM/CritSects/ichac97#0Auto/ContentionRZUnlock 0 times
570000:36:32.589720 /PDM/CritSects/mc146818#0Auto/ContentionR3 0 times
570100:36:32.589727 /PDM/CritSects/mc146818#0Auto/ContentionRZLock 0 times
570200:36:32.589733 /PDM/CritSects/mc146818#0Auto/ContentionRZUnlock 0 times
570300:36:32.589741 /PDM/CritSects/pcarch#0Auto/ContentionR3 0 times
570400:36:32.589747 /PDM/CritSects/pcarch#0Auto/ContentionRZLock 0 times
570500:36:32.589753 /PDM/CritSects/pcarch#0Auto/ContentionRZUnlock 0 times
570600:36:32.589760 /PDM/CritSects/pcbios#0Auto/ContentionR3 0 times
570700:36:32.589766 /PDM/CritSects/pcbios#0Auto/ContentionRZLock 0 times
570800:36:32.589772 /PDM/CritSects/pcbios#0Auto/ContentionRZUnlock 0 times
570900:36:32.589779 /PDM/CritSects/pckbd#0Auto/ContentionR3 0 times
571000:36:32.589785 /PDM/CritSects/pckbd#0Auto/ContentionRZLock 0 times
571100:36:32.589791 /PDM/CritSects/pckbd#0Auto/ContentionRZUnlock 0 times
571200:36:32.589797 /PDM/CritSects/pit#0/ContentionR3 0 times
571300:36:32.589804 /PDM/CritSects/pit#0/ContentionRZLock 0 times
571400:36:32.589810 /PDM/CritSects/pit#0/ContentionRZUnlock 0 times
571500:36:32.589816 /PDM/CritSects/usb-ehci#0Auto/ContentionR3 0 times
571600:36:32.589822 /PDM/CritSects/usb-ehci#0Auto/ContentionRZLock 0 times
571700:36:32.589828 /PDM/CritSects/usb-ehci#0Auto/ContentionRZUnlock 0 times
571800:36:32.589835 /PDM/CritSects/usb-ohci#0Auto/ContentionR3 0 times
571900:36:32.589841 /PDM/CritSects/usb-ohci#0Auto/ContentionRZLock 0 times
572000:36:32.589847 /PDM/CritSects/usb-ohci#0Auto/ContentionRZUnlock 0 times
572100:36:32.589854 /PDM/CritSectsRw/IOM Lock/ContentionR3EnterExcl 0 times
572200:36:32.589860 /PDM/CritSectsRw/IOM Lock/ContentionR3EnterShared 0 times
572300:36:32.589866 /PDM/CritSectsRw/IOM Lock/ContentionRZEnterExcl 0 times
572400:36:32.589873 /PDM/CritSectsRw/IOM Lock/ContentionRZEnterShared 0 times
572500:36:32.589879 /PDM/CritSectsRw/IOM Lock/ContentionRZLeaveExcl 0 times
572600:36:32.589891 /PDM/CritSectsRw/IOM Lock/ContentionRZLeaveShared 0 times
572700:36:32.589897 /PDM/CritSectsRw/IOM Lock/R3EnterExcl 297 times
572800:36:32.589904 /PDM/CritSectsRw/IOM Lock/R3EnterShared 263721 times
572900:36:32.589910 /PDM/CritSectsRw/IOM Lock/RZEnterExcl 0 times
573000:36:32.589916 /PDM/CritSectsRw/IOM Lock/RZEnterShared 4869750 times
573100:36:32.589924 /PDM/Queue/DevHlp/AllocFailures 0 times
573200:36:32.589930 /PDM/Queue/DevHlp/Flush 0 calls
573300:36:32.589937 /PDM/Queue/DevHlp/FlushLeftovers 0 times
573400:36:32.589943 /PDM/Queue/DevHlp/Insert 0 calls
573500:36:32.589950 /PDM/Queue/DevHlp/cItems 8 count
573600:36:32.589956 /PDM/Queue/DevHlp/cbItem 64 bytes
573700:36:32.589964 /PDM/Queue/Keyboard/AllocFailures 0 times
573800:36:32.589970 /PDM/Queue/Keyboard/Flush 0 calls
573900:36:32.589977 /PDM/Queue/Keyboard/FlushLeftovers 0 times
574000:36:32.589983 /PDM/Queue/Keyboard/Insert 392 calls
574100:36:32.589990 /PDM/Queue/Keyboard/cItems 64 count
574200:36:32.589997 /PDM/Queue/Keyboard/cbItem 32 bytes
574300:36:32.590003 /PDM/Queue/Mouse/AllocFailures 0 times
574400:36:32.590010 /PDM/Queue/Mouse/Flush 0 calls
574500:36:32.590017 /PDM/Queue/Mouse/FlushLeftovers 0 times
574600:36:32.590023 /PDM/Queue/Mouse/Insert 347 calls
574700:36:32.590030 /PDM/Queue/Mouse/cItems 128 count
574800:36:32.590037 /PDM/Queue/Mouse/cbItem 48 bytes
574900:36:32.590044 /PDM/Queue/Mouse_1/AllocFailures 0 times
575000:36:32.590050 /PDM/Queue/Mouse_1/Flush 0 calls
575100:36:32.590057 /PDM/Queue/Mouse_1/FlushLeftovers 0 times
575200:36:32.590063 /PDM/Queue/Mouse_1/Insert 0 calls
575300:36:32.590069 /PDM/Queue/Mouse_1/cItems 128 count
575400:36:32.590076 /PDM/Queue/Mouse_1/cbItem 48 bytes
575500:36:32.590083 /PDM/Queue/PCNet-Rcv/AllocFailures 0 times
575600:36:32.590089 /PDM/Queue/PCNet-Rcv/Flush 0 calls
575700:36:32.590096 /PDM/Queue/PCNet-Rcv/FlushLeftovers 0 times
575800:36:32.590102 /PDM/Queue/PCNet-Rcv/Insert 0 calls
575900:36:32.590109 /PDM/Queue/PCNet-Rcv/cItems 1 count
576000:36:32.590115 /PDM/Queue/PCNet-Rcv/cbItem 24 bytes
576100:36:32.590122 /PDM/Queue/PCNet-Xmit/AllocFailures 0 times
576200:36:32.590128 /PDM/Queue/PCNet-Xmit/Flush 0 calls
576300:36:32.590135 /PDM/Queue/PCNet-Xmit/FlushLeftovers 0 times
576400:36:32.590141 /PDM/Queue/PCNet-Xmit/Insert 0 calls
576500:36:32.590148 /PDM/Queue/PCNet-Xmit/cItems 1 count
576600:36:32.590154 /PDM/Queue/PCNet-Xmit/cbItem 24 bytes
576700:36:32.590161 /PGM/CPU0/cA20Changes 2 times
576800:36:32.590168 /PGM/CPU0/cGuestModeChanges 1987 times
576900:36:32.590175 /PGM/ChunkR3Map/Mapped 257 count
577000:36:32.590182 /PGM/ChunkR3Map/Unmapped 0 count
577100:36:32.590188 /PGM/ChunkR3Map/c 257 count
577200:36:32.590196 /PGM/ChunkR3Map/cMax 4294967295 count
577300:36:32.590204 /PGM/LargePage/Recheck 0 times
577400:36:32.590211 /PGM/LargePage/Refused 0 times
577500:36:32.590217 /PGM/LargePage/Reused 0 times
577600:36:32.590226 /PGM/Page/cAllPages 140326 count
577700:36:32.590234 /PGM/Page/cBalloonedPages 0 count
577800:36:32.590240 /PGM/Page/cHandyPages 120 count
577900:36:32.590247 /PGM/Page/cLargePages 0 count
578000:36:32.590253 /PGM/Page/cLargePagesDisabled 0 count
578100:36:32.590260 /PGM/Page/cMonitoredPages 0 count
578200:36:32.590266 /PGM/Page/cPrivatePages 140288 count
578300:36:32.590273 /PGM/Page/cPureMmioPages 4 count
578400:36:32.590280 /PGM/Page/cReadLockedPages 0 count
578500:36:32.590286 /PGM/Page/cReusedSharedPages 0 count
578600:36:32.590293 /PGM/Page/cSharedPages 0 count
578700:36:32.590299 /PGM/Page/cWriteLockedPages 0 count
578800:36:32.590306 /PGM/Page/cWrittenToPages 0 count
578900:36:32.590315 /PGM/Page/cZeroPages 34 count
579000:36:32.590322 /PGM/ShMod/Check 0 ticks/call ( 0 ticks, 0 times, max 0, min -1)
579100:36:32.590331 /PGM/cRelocations 0 times
579200:36:32.590338 /PROF/CPU0/EM/Capped 0 ticks/call ( 0 ticks, 0 times, max 0, min -1)
579300:36:32.590346 /PROF/CPU0/EM/ForcedActions 265976 times
579400:36:32.590353 /PROF/CPU0/EM/Halted 248771 times
579500:36:32.590361 /PROF/CPU0/EM/RAWTotal 0 times
579600:36:32.590367 /PROF/CPU0/EM/REMTotal 0 times
579700:36:32.590374 /PROF/CPU0/EM/Total 5945237753839 ticks/call (5945237753839 ticks, 1 times, max 5945237753839, min 5945237753839)
579800:36:32.590387 /PROF/CPU0/VM/Halt/Block 2189575 ns/call (2037619040746 ticks, 930600 times, max 12907876, min 1)
579900:36:32.590399 /PROF/CPU0/VM/Halt/BlockInsomnia 0 ns/call ( 0 ticks, 0 times, max 0, min -1)
580000:36:32.590407 /PROF/CPU0/VM/Halt/BlockOnTime 0 ns/call ( 0 ticks, 0 times, max 0, min -1)
580100:36:32.590415 /PROF/CPU0/VM/Halt/BlockOverslept 0 ns/call ( 0 ticks, 0 times, max 0, min -1)
580200:36:32.590422 /PROF/CPU0/VM/Halt/Timers 9488 ns/call ( 11195455076 ticks, 1179925 times, max 4053170, min 2)
580300:36:32.590433 /PROF/CPU0/VM/Halt/Yield 2976 ns/call ( 386987 ticks, 130 times, max 6817, min 729)
580400:36:32.590443 /Public/Net/PCNet0/BytesReceived 237661123 bytes
580500:36:32.590450 /Public/Net/PCNet0/BytesTransmitted 2411724 bytes
580600:36:32.590458 /REM/TbFlushCount 0 times
580700:36:32.590466 /REM/TbPhysInvldCount 0 times
580800:36:32.590473 /REM/TlbFlushCount 1 times
580900:36:32.590480 /SELM/LoadHidSel/GstReadErrors 0 times
581000:36:32.590486 /SELM/LoadHidSel/NoGoodGuest 0 times
581100:36:32.590493 /TM/CPU/00/cNsExecuting 114423171997 ns
581200:36:32.590502 /TM/CPU/00/cNsHalted 2050180002592 ns
581300:36:32.590510 /TM/CPU/00/cNsOther 27592640767 ns
581400:36:32.590518 /TM/CPU/00/cNsTotal 2192195815356 ns
581500:36:32.590526 /TM/CPU/00/cPeriodsExecuting 5162457 count
581600:36:32.590533 /TM/CPU/00/cPeriodsHalted 247202 count
581700:36:32.590540 /TM/CPU/00/pctExecuting 4 %
581800:36:32.590547 /TM/CPU/00/pctHalted 93 %
581900:36:32.590554 /TM/CPU/00/pctOther 1 %
582000:36:32.590561 /TM/CPU/pctExecuting 4 %
582100:36:32.590568 /TM/CPU/pctHalted 93 %
582200:36:32.590575 /TM/CPU/pctOther 1 %
582300:36:32.590582 /TM/MaxHzHint 0 Hz
582400:36:32.590589 /TM/R0/1nsSteps 23335 times
582500:36:32.590597 /TM/R3/1nsSteps 63328 times
582600:36:32.590604 /TM/TSC/offCPU0 0 ticks
582700:36:32.590612 /TM/VirtualSync/CurrentOffset 227297 ns
582800:36:32.590619 /VUSB/0/cUrbsInPool 0 count
582900:36:32.590626 /VUSB/1/cUrbsInPool 0 count
583000:36:32.590635 ********************* End of statistics **********************
583100:36:32.590843 VUSB: Detached 'HidMouse' from port 1
583200:36:32.595484 Changing the VM state from 'DESTROYING' to 'TERMINATED'
583300:36:32.597345 Console: Machine state changed to 'PoweredOff'
583400:36:32.597453 GUI: Request to close Runtime UI because VM is powered off already.
583500:36:32.597460 GUI: Passing request to close Runtime UI from machine-logic to UI session.

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