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Time-Zone Arbitrage in Vanguard International
... with either the 0.5% or .25% expected return thresholds over the time period. Their trading strategy, unlike ours, has capital in the international funds less than 10% of the time. Bhargava and Dubofsky [2001] also consider TZA in Vanguard international index funds, calculate the return from TZA, an ...
... with either the 0.5% or .25% expected return thresholds over the time period. Their trading strategy, unlike ours, has capital in the international funds less than 10% of the time. Bhargava and Dubofsky [2001] also consider TZA in Vanguard international index funds, calculate the return from TZA, an ...
Market Makers and Vampire Squid
... http://www.npr.org/templates/story/story.php?storyId=104979546 (stating that “national banks choose their regulators—they go shopping. . . . [and] . . . regulators want to get picked, because banks pay them for the service of regulation.”). ...
... http://www.npr.org/templates/story/story.php?storyId=104979546 (stating that “national banks choose their regulators—they go shopping. . . . [and] . . . regulators want to get picked, because banks pay them for the service of regulation.”). ...
Wespath`s Hedge Fund Strategy— The Path Not Followed
... has changed dramatically. Whereas hedge funds used to sell themselves as the spicy, market-beating wedge of an investment portfolio, they now stress the long-term stability of their returns. Comparing their returns with a bubbling stock market misses the very point of ‘hedged’ funds…” ...
... has changed dramatically. Whereas hedge funds used to sell themselves as the spicy, market-beating wedge of an investment portfolio, they now stress the long-term stability of their returns. Comparing their returns with a bubbling stock market misses the very point of ‘hedged’ funds…” ...
Characterizing world market integration through time
... The E-L model explicitly assumes barriers to portfolio ßows that capture the restrictions imposed by emerging markets (EMs). Barriers have taken many forms including capital controls, restrictions/taxes on repatriation, limits on ownership, market regulation, investor protection, information etc. Al ...
... The E-L model explicitly assumes barriers to portfolio ßows that capture the restrictions imposed by emerging markets (EMs). Barriers have taken many forms including capital controls, restrictions/taxes on repatriation, limits on ownership, market regulation, investor protection, information etc. Al ...
Q1 Silicon Valley Venture Capitalists Confidence Report
... A focus on opportunities brought about by technology changes was apparent in Q1. For example, Jeb Miller of Icon Ventures contended “The massive opportunity to solve vertical market and business use cases leveraging the power of the new cloud, mobile, and big data platforms remains. We are seeing a ...
... A focus on opportunities brought about by technology changes was apparent in Q1. For example, Jeb Miller of Icon Ventures contended “The massive opportunity to solve vertical market and business use cases leveraging the power of the new cloud, mobile, and big data platforms remains. We are seeing a ...
In the following paper, I will explore one vector of the financialization
... Section 2: The investor dynamics fueling the US equity bubble Asset markets, conventional theory holds, allow investors to identify and fund those investment projects with the highest risk adjusted return. Financial markets are efficient in this task, at least in an informational sense, and will onl ...
... Section 2: The investor dynamics fueling the US equity bubble Asset markets, conventional theory holds, allow investors to identify and fund those investment projects with the highest risk adjusted return. Financial markets are efficient in this task, at least in an informational sense, and will onl ...
140225_Presentation_Intro_Update
... if at maturity the S&P has fallen by more than 40% of the initial level (below 1069 points) at maturity, the structure will redeem paying the original capital minus 1% for every 1% the Index has fallen below the initial level ...
... if at maturity the S&P has fallen by more than 40% of the initial level (below 1069 points) at maturity, the structure will redeem paying the original capital minus 1% for every 1% the Index has fallen below the initial level ...
Life-cycle management of PERCO company pension savings
... Employees enrolling in a PERCO must be offered at least three investment vehicles with different profiles. These are generally Employee Investment Funds (FCPEs), and one of them must be an Social impact fund1. Employees are free to choose their investment; if they do not express a specific preferen ...
... Employees enrolling in a PERCO must be offered at least three investment vehicles with different profiles. These are generally Employee Investment Funds (FCPEs), and one of them must be an Social impact fund1. Employees are free to choose their investment; if they do not express a specific preferen ...
No.305 / November 2009 Emerging Markets Capital Structure and Financial Integration
... for both emerged and emerging market firms. However, openness results in opposite effects on debt maturity, which is lengthened in developed countries but shortened in developing countries. Additionally, the authors find that financial liberalization has a positive impact on both leverage and debt ...
... for both emerged and emerging market firms. However, openness results in opposite effects on debt maturity, which is lengthened in developed countries but shortened in developing countries. Additionally, the authors find that financial liberalization has a positive impact on both leverage and debt ...
Government Bonds and Their Investors
... domestic private non-financial sector is broken down into non-financial corporations and direct household holdings, both of which hold very small portions of marketable government securities directly and are therefore often omitted from the analysis. The domestic financial sector is broken down into ...
... domestic private non-financial sector is broken down into non-financial corporations and direct household holdings, both of which hold very small portions of marketable government securities directly and are therefore often omitted from the analysis. The domestic financial sector is broken down into ...
Financial Intermediation Chains in a Search Market
... measure of the total population is N. They have access to a riskless bank account with an interest rate r. There is an asset, which has a total supply of X units with X < N. Each unit of the asset pays $1 per unit of time until infinity. The asset is traded at an over-the-counter market. Following D ...
... measure of the total population is N. They have access to a riskless bank account with an interest rate r. There is an asset, which has a total supply of X units with X < N. Each unit of the asset pays $1 per unit of time until infinity. The asset is traded at an over-the-counter market. Following D ...
Commercial Mortgage-backed Securities: Prepayment and Default*
... lender has some flexibility in charging the lower quality borrower a higher interest rate (rather than a lower loan-to-value ratio), Stiglitz and Weiss (1981) show that the probability of default increases as the default premium in the loan contract rate increases. Hence, lenders will often employ a ...
... lender has some flexibility in charging the lower quality borrower a higher interest rate (rather than a lower loan-to-value ratio), Stiglitz and Weiss (1981) show that the probability of default increases as the default premium in the loan contract rate increases. Hence, lenders will often employ a ...
Bank Capital and Monitoring: Evidence from Loan Quality Gauri
... the minimum allowed by law, while the smaller banks increased their capital in the period preceding the financial crisis. They attribute this behavior to the moral hazard at the largest banks resulting from too big to fail precedent ...
... the minimum allowed by law, while the smaller banks increased their capital in the period preceding the financial crisis. They attribute this behavior to the moral hazard at the largest banks resulting from too big to fail precedent ...
Canadians Hop Aboard Strategic-Beta Bandwagon
... latter include "closet index" stock funds that ape the market without admitting to the fact; "enhancedindex" funds that explicitly control for industry exposure but give the manager the freedom to pick stocks; and many plain-vanilla bond funds. Alternative active funds have no green. (They may also ...
... latter include "closet index" stock funds that ape the market without admitting to the fact; "enhancedindex" funds that explicitly control for industry exposure but give the manager the freedom to pick stocks; and many plain-vanilla bond funds. Alternative active funds have no green. (They may also ...
How Do Private Equity Investments Perform Compared to Public
... make their data available. Of course, they provide this data to their current and potential investors— the Limited Partners in their funds, or LPs—but normally under confidentiality agreements that prevent sharing the data. And even if one obtains comprehensive data, measuring returns to illiquid pr ...
... make their data available. Of course, they provide this data to their current and potential investors— the Limited Partners in their funds, or LPs—but normally under confidentiality agreements that prevent sharing the data. And even if one obtains comprehensive data, measuring returns to illiquid pr ...
Demand for SME finance - Greater London Authority
... The data on both debt and equity finance clearly shows the reduction in supply in London over the last two to three years. Overall, the amount of supply for both types of finance is still markedly higher in London than in other parts of the country, as would be expected with the size of the business ...
... The data on both debt and equity finance clearly shows the reduction in supply in London over the last two to three years. Overall, the amount of supply for both types of finance is still markedly higher in London than in other parts of the country, as would be expected with the size of the business ...
State and Local Government Accounting Principles
... account for the external portion of investment pools held by the sponsoring government. Private-Purpose Trust Funds – used to account for all other trust arrangements under which principal and/or income benefit individuals or groups outside the government. ...
... account for the external portion of investment pools held by the sponsoring government. Private-Purpose Trust Funds – used to account for all other trust arrangements under which principal and/or income benefit individuals or groups outside the government. ...
Overview of Governmental Fund Accounting
... • Individual CTCs are not accounting entities for purposes of the CAFR; the state is the entity • Balances of individual accounts used by most CTCs are usually not material to the CAFR (some larger colleges’ accounts may be material) • College financial statements are titled “_______ College, A Comp ...
... • Individual CTCs are not accounting entities for purposes of the CAFR; the state is the entity • Balances of individual accounts used by most CTCs are usually not material to the CAFR (some larger colleges’ accounts may be material) • College financial statements are titled “_______ College, A Comp ...
coronation global managed fund
... performance is not necessarily an indication of future performance. The fund is mandated to invest up to 100% of its portfolio into foreign securities and may as a result be exposed to macroeconomic, settlement, political, tax, reporting or illiquidity risk factors that may be different to similar i ...
... performance is not necessarily an indication of future performance. The fund is mandated to invest up to 100% of its portfolio into foreign securities and may as a result be exposed to macroeconomic, settlement, political, tax, reporting or illiquidity risk factors that may be different to similar i ...
Why equity markets matter
... capital markets.” Equity markets are a vital part of the capital markets, delivering the share capital that every company needs at the core of its balance sheet. European society needs healthy equity markets. They provide the region’s companies with long-term capital for growth, leading to higher le ...
... capital markets.” Equity markets are a vital part of the capital markets, delivering the share capital that every company needs at the core of its balance sheet. European society needs healthy equity markets. They provide the region’s companies with long-term capital for growth, leading to higher le ...
investing for charitable good
... of equities. Did you instead sell substantial equity holdings or stay on the sidelines to see what would happen? If so, this indicates a lower tolerance for risk and may lead to more conservative investment recommendations. Growth is Good Donors who have opened donor-advised fund accounts as a resul ...
... of equities. Did you instead sell substantial equity holdings or stay on the sidelines to see what would happen? If so, this indicates a lower tolerance for risk and may lead to more conservative investment recommendations. Growth is Good Donors who have opened donor-advised fund accounts as a resul ...
SUBPriME MOrTGAGE CriSiS iN THE UNiTED STATES iN 2007–2008
... the background of rapidly rising house prices. The strong investor appetite for higheryielding securities contributed to looser loan granting and mortgaging standards. However, safeguards ensuring prudent lending were weakened by the combination of remunerations and bonuses at each stage of the secu ...
... the background of rapidly rising house prices. The strong investor appetite for higheryielding securities contributed to looser loan granting and mortgaging standards. However, safeguards ensuring prudent lending were weakened by the combination of remunerations and bonuses at each stage of the secu ...
A Survey of the Canadian Target Risk Landscape
... funds. At the same time, the likelihood that the firm has a “best-in-class” fund in every asset class is low. Some programs, such as National Bank’s Meritage or ATB’s Compass, attempt to solve this problem by focusing on manager selection and using exclusively third-party funds. It’s also common for ...
... funds. At the same time, the likelihood that the firm has a “best-in-class” fund in every asset class is low. Some programs, such as National Bank’s Meritage or ATB’s Compass, attempt to solve this problem by focusing on manager selection and using exclusively third-party funds. It’s also common for ...