It must have been that they somehow knew on the issuance date that the stock price was going to go up, but he said they couldn't possibly know that in these general circumstances.

这一定是,他们在发放期权的当日就知道,股价将要上涨,但是李认为在正常情况下,他们是不可能知道的

耶鲁公开课 - 金融市场课程节选

is two, 10% it means that if the market goes up 10% in value, the stock tends to go up 20% in value and so on.

当β值等于2时，If，β,表明若市场组合增值，股票价值就增长了20%，以此类推。

耶鲁公开课 - 金融市场课程节选