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Illiquid assets - Select Investment Partners
... valuation of the illiquid investments. For funds that are offering daily or weekly applications and redemptions (and switches), the valuation of illiquid assets is crucial, especially if they are a large component of the portfolio. After all, at any point, you may have investors that are taking a ve ...
... valuation of the illiquid investments. For funds that are offering daily or weekly applications and redemptions (and switches), the valuation of illiquid assets is crucial, especially if they are a large component of the portfolio. After all, at any point, you may have investors that are taking a ve ...
Investor Presentation
... The cover pool consists 100 % of prime Norwegian residential assets Low LTV of 55.3 % (indexed) There are no non-performing assets in the cover pool Current OC of 16.8 %, of which 2.0 % is provided on committed basis Main cover pool exposure is towards Southern Norway, where price developm ...
... The cover pool consists 100 % of prime Norwegian residential assets Low LTV of 55.3 % (indexed) There are no non-performing assets in the cover pool Current OC of 16.8 %, of which 2.0 % is provided on committed basis Main cover pool exposure is towards Southern Norway, where price developm ...
Financial Market Imperfections and the Pricing Decision of Firms
... constrained may affect the pricing decision of a firm: firms with initially low prices that sell large quantities may not be able to finance their production inputs and may therefore find it optimal to scale down production and adjust prices up. On the other hand, firms seeking to gain market share ...
... constrained may affect the pricing decision of a firm: firms with initially low prices that sell large quantities may not be able to finance their production inputs and may therefore find it optimal to scale down production and adjust prices up. On the other hand, firms seeking to gain market share ...
Shedding Light on Hedge Funds
... lack of regulation. Hedge funds are not regulated by the SEC or any other agency and they are not required to register as investment companies under the Investment Company Act of 1940 (nor do they register their securities offerings under the Securities Act of 1933). Furthermore, the advisers to hed ...
... lack of regulation. Hedge funds are not regulated by the SEC or any other agency and they are not required to register as investment companies under the Investment Company Act of 1940 (nor do they register their securities offerings under the Securities Act of 1933). Furthermore, the advisers to hed ...
Facing the Urban Challenge: The Federal Government and
... Table 1. Distribution of Households by Ratio of Income to Poverty Level, Selected Cities City Household income Household income 1.0 Household income 2.0 below poverty level to 1.99 times poverty times poverty level or level higher Gary ...
... Table 1. Distribution of Households by Ratio of Income to Poverty Level, Selected Cities City Household income Household income 1.0 Household income 2.0 below poverty level to 1.99 times poverty times poverty level or level higher Gary ...
The Predictability of Real Estate Returns and Market
... returns on other assets. This raises the possibility that real estate might exhibit superior investment performance when compared to other assets if an investor is successful in markettiming. The purpose of the present study, therefore, is to explore whether superior real estate investment performan ...
... returns on other assets. This raises the possibility that real estate might exhibit superior investment performance when compared to other assets if an investor is successful in markettiming. The purpose of the present study, therefore, is to explore whether superior real estate investment performan ...
Derivatives Debacles: Case Studies of Large Losses
... Market risk is defined as the risk to earnings from adverse movements in market prices. Press accounts of derivatives-related losses have tended to emphasize market risk; but the incidents examined in this article illustrate the importance of operational risk—the risk of losses occurring as a result ...
... Market risk is defined as the risk to earnings from adverse movements in market prices. Press accounts of derivatives-related losses have tended to emphasize market risk; but the incidents examined in this article illustrate the importance of operational risk—the risk of losses occurring as a result ...
A Retrospective of the Troubled Asset Relief Program
... On Oct. 20, 2008, Treasury announced a "streamlined, systematic process" for all publiclyorganized financial institutions wishing to access funds through the CPP. Treasury indicated that it would post an application form and term sheet for privately held eligible institutions and establish a reasona ...
... On Oct. 20, 2008, Treasury announced a "streamlined, systematic process" for all publiclyorganized financial institutions wishing to access funds through the CPP. Treasury indicated that it would post an application form and term sheet for privately held eligible institutions and establish a reasona ...
Stochastic dominance and behavior towards risk: The market for
... the S&P 500 by a whopping 482%1. Technology stocks in general showed a similar trend, as evident from NASDAQ 100 Index which quadrupled over the same period, and outperformed the S&P 500 index by 268%. Following the peak of the bull market, prices of Internet stocks fell by more than 80% through the ...
... the S&P 500 by a whopping 482%1. Technology stocks in general showed a similar trend, as evident from NASDAQ 100 Index which quadrupled over the same period, and outperformed the S&P 500 index by 268%. Following the peak of the bull market, prices of Internet stocks fell by more than 80% through the ...
NBER WORKING PAPER SERIES Hanno Lustig
... Some of the most dramatic historical episodes in equity markets have coincided with changes in housing markets. For example, the equity premium was very high in the 1930s when the value of the housing stock was low relative to output, while the gradual decline in the equity premium in the post-war p ...
... Some of the most dramatic historical episodes in equity markets have coincided with changes in housing markets. For example, the equity premium was very high in the 1930s when the value of the housing stock was low relative to output, while the gradual decline in the equity premium in the post-war p ...
Non-Owner-Occupancy Misrepresentation and Loan Default
... value of one if the origination loan balance reported by BlackBox is not within 2% of any first-mortgage origination loan balance reported to Equifax during the loan’s first six months, and zero otherwise. Misreported Second takes a value of one if the loan is characterized as having a second-lien m ...
... value of one if the origination loan balance reported by BlackBox is not within 2% of any first-mortgage origination loan balance reported to Equifax during the loan’s first six months, and zero otherwise. Misreported Second takes a value of one if the loan is characterized as having a second-lien m ...
The Financialization of Commodity Markets
... to hedge spot-price risk inherent in their commercial activities. Non-commercial traders, such as hedge funds or other managed money vehicles, invest others’ money on a discretionary basis in commodities, commodity futures, and options on futures, and make extensive use of leverage. Over the past de ...
... to hedge spot-price risk inherent in their commercial activities. Non-commercial traders, such as hedge funds or other managed money vehicles, invest others’ money on a discretionary basis in commodities, commodity futures, and options on futures, and make extensive use of leverage. Over the past de ...
More Finance Questions
... ____ 18. Risk-averse individuals like good things more than they dislike comparable bad things. ____ 19. People who are risk averse dislike bad outcomes more than they like comparable good outcomes. ____ 20. The market for insurance is an example of diversification. ____ 21. A person’s subjective me ...
... ____ 18. Risk-averse individuals like good things more than they dislike comparable bad things. ____ 19. People who are risk averse dislike bad outcomes more than they like comparable good outcomes. ____ 20. The market for insurance is an example of diversification. ____ 21. A person’s subjective me ...
Central Bank Talk: Does It Matter and Why? Introduction
... obvious, a priori, in what ways statements by the central bank have a role in shaping the expectations of investors and other private agents. Investors presumably read statements for information about the near-term policy inclinations of the central bank—an area in which the central bank will know m ...
... obvious, a priori, in what ways statements by the central bank have a role in shaping the expectations of investors and other private agents. Investors presumably read statements for information about the near-term policy inclinations of the central bank—an area in which the central bank will know m ...
Review of Housing Supply
... regional and local). There are issues around the relationship between the private sector as the main deliverer of housing and Government’s objectives, which may not always accord with market pressures. There are no easy answers and no disguising that the choices we face are difficult. We inhabit a s ...
... regional and local). There are issues around the relationship between the private sector as the main deliverer of housing and Government’s objectives, which may not always accord with market pressures. There are no easy answers and no disguising that the choices we face are difficult. We inhabit a s ...
United States housing bubble
![](https://commons.wikimedia.org/wiki/Special:FilePath/Shiller_IE2_Fig_2-1.png?width=300)
The United States housing bubble was an economic bubble affecting many parts of the United States housing market in over half of American states. Housing prices peaked in early 2006, started to decline in 2006 and 2007, and reached new lows in 2012. On December 30, 2008, the Case-Shiller home price index reported its largest price drop in its history. The credit crisis resulting from the bursting of the housing bubble is—according to general consensus—the primary cause of the 2007–2009 recession in the United States.Increased foreclosure rates in 2006–2007 among U.S. homeowners led to a crisis in August 2008 for the subprime, Alt-A, collateralized debt obligation (CDO), mortgage, credit, hedge fund, and foreign bank markets. In October 2007, the U.S. Secretary of the Treasury called the bursting housing bubble ""the most significant risk to our economy.""Any collapse of the U.S. housing bubble has a direct impact not only on home valuations, but the nation's mortgage markets, home builders, real estate, home supply retail outlets, Wall Street hedge funds held by large institutional investors, and foreign banks, increasing the risk of a nationwide recession. Concerns about the impact of the collapsing housing and credit markets on the larger U.S. economy caused President George W. Bush and the Chairman of the Federal Reserve Ben Bernanke to announce a limited bailout of the U.S. housing market for homeowners who were unable to pay their mortgage debts.In 2008 alone, the United States government allocated over $900 billion to special loans and rescues related to the U.S. housing bubble, with over half going to Fannie Mae and Freddie Mac (both of which are government-sponsored enterprises) as well as the Federal Housing Administration. On December 24, 2009, the Treasury Department made an unprecedented announcement that it would be providing Fannie Mae and Freddie Mac unlimited financial support for the next three years despite acknowledging losses in excess of $400 billion so far. The Treasury has been criticized for encroaching on spending powers that are enumerated for Congress alone by the United States Constitution, and for violating limits imposed by the Housing and Economic Recovery Act of 2008.