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the discussion note
... consumer/investor first-order conditions to tie the discount factor to changes in the marginal utility of wealth. Since Mehra and Prescott (1985), Hansen and Jagannathan (1991) and others showed that the standard model with additive separable preferences could not account for observed risk premia (l ...
... consumer/investor first-order conditions to tie the discount factor to changes in the marginal utility of wealth. Since Mehra and Prescott (1985), Hansen and Jagannathan (1991) and others showed that the standard model with additive separable preferences could not account for observed risk premia (l ...
Document
... Another explanation for this positive rate of time preference is uncertainty Because present consumption is valued more than future consumption, households must be rewarded to ...
... Another explanation for this positive rate of time preference is uncertainty Because present consumption is valued more than future consumption, households must be rewarded to ...
MONETARY POLICY IN THE US BEFORE AND AFTER THE CRISIS
... If wants to make more permanent changes to MB, Fed makes outright purchases or sales of government securities. Traditionally, purchases of Treasury securities were conducted to offset factors that permanently drain balances from the banking system, including U.S. currency in circulation, among other ...
... If wants to make more permanent changes to MB, Fed makes outright purchases or sales of government securities. Traditionally, purchases of Treasury securities were conducted to offset factors that permanently drain balances from the banking system, including U.S. currency in circulation, among other ...
Novo CapitalMgmt
... Put. If the Fed really wanted to boost money supply, it seems it would have had to increase the level of QE2 to offset the tightening created by China. The Fed’s decision is consistent with its strategy to provide credit and financial support in an extraordinarily precise manner. In other words, mon ...
... Put. If the Fed really wanted to boost money supply, it seems it would have had to increase the level of QE2 to offset the tightening created by China. The Fed’s decision is consistent with its strategy to provide credit and financial support in an extraordinarily precise manner. In other words, mon ...
executive summary - Adelante Capital Management
... be acquired by Tricon Capital Group for $21.50/share or $1.4 billion, including the assumption of debt. While the deal price was slightly below SBY’s own published NAV estimate, it did represent an 18% premium to the previous close. SBY had been handicapped by size/cost of capital disadvantage; conv ...
... be acquired by Tricon Capital Group for $21.50/share or $1.4 billion, including the assumption of debt. While the deal price was slightly below SBY’s own published NAV estimate, it did represent an 18% premium to the previous close. SBY had been handicapped by size/cost of capital disadvantage; conv ...
The Big Four banks - Switzer Super Report
... to go looking for them. Warren Buffett has told retail investors that they are better off in ETFs but that doesn’t mean that a better strategy might be a core investment in a passive fund that mirrors a good market index augmented by a satellite strategy where you go looking for alpha or higher retu ...
... to go looking for them. Warren Buffett has told retail investors that they are better off in ETFs but that doesn’t mean that a better strategy might be a core investment in a passive fund that mirrors a good market index augmented by a satellite strategy where you go looking for alpha or higher retu ...
Nicolas Magud Carmen M Reinhart Esteban R Vesperoni 24
... Capital-inflow bonanzas have become more frequent after restrictions to international movements were relaxed worldwide over the last decades.1 Capital flows to emerging economies can finance investment and foster economic growth. However, inflows may also induce sharp monetary and credit expansions, ...
... Capital-inflow bonanzas have become more frequent after restrictions to international movements were relaxed worldwide over the last decades.1 Capital flows to emerging economies can finance investment and foster economic growth. However, inflows may also induce sharp monetary and credit expansions, ...
Millennium bcp
... This document is not an offer of securities for sale in the United States, Canada, Australia, Japan or any other jurisdiction. Securities may not be offered or sold in the United States unless they are registered pursuant to the US Securities Act of 1933 or are exempt from such registration. Any p ...
... This document is not an offer of securities for sale in the United States, Canada, Australia, Japan or any other jurisdiction. Securities may not be offered or sold in the United States unless they are registered pursuant to the US Securities Act of 1933 or are exempt from such registration. Any p ...
Peer-to-Peer Loan Data Update
... This document is for general information and for the purposes of facilitating a discussion only, and is not intended, and does not, constitute a recommendation or offer to sell, or solicitation of any offer to buy, securities, or any other financial instrument, or a solicitation for any other action ...
... This document is for general information and for the purposes of facilitating a discussion only, and is not intended, and does not, constitute a recommendation or offer to sell, or solicitation of any offer to buy, securities, or any other financial instrument, or a solicitation for any other action ...
PRESS RELEASE
... U.S. CLO O/C ratios improve while European CLOs O/C recovery in early stages: U.S. CLO O/C ratios continued to strengthen during Q1 2010 as a result of improving credit fundamentals and asset prices. As of the end of Q1 2010, approximately 78% of U.S. CLOs were passing their junior O/C tests (27) as ...
... U.S. CLO O/C ratios improve while European CLOs O/C recovery in early stages: U.S. CLO O/C ratios continued to strengthen during Q1 2010 as a result of improving credit fundamentals and asset prices. As of the end of Q1 2010, approximately 78% of U.S. CLOs were passing their junior O/C tests (27) as ...
Residential Mortgage Lending - PowerPoint
... Savings of individuals make up an insignificant part of the funds required by the financial market. Mortgage lending is part of the capital market. As a general rule, financial intermediaries can earn higher yields on investments than individuals can. Money market certificates (MMCs) have increased ...
... Savings of individuals make up an insignificant part of the funds required by the financial market. Mortgage lending is part of the capital market. As a general rule, financial intermediaries can earn higher yields on investments than individuals can. Money market certificates (MMCs) have increased ...
Kenanga Global Opportunities Fund 13.4
... Based on the fund’s portfolio returns as at 15 October 2013, the Volatility Factor (VF) for this fund is 13.36 and is classified as “Very High”. (Source: Lipper). “Very High” includes funds with VF that are above 12.835 (source: Lipper). The VF means there is a possibility for the fund in generating ...
... Based on the fund’s portfolio returns as at 15 October 2013, the Volatility Factor (VF) for this fund is 13.36 and is classified as “Very High”. (Source: Lipper). “Very High” includes funds with VF that are above 12.835 (source: Lipper). The VF means there is a possibility for the fund in generating ...
s e r v e .. B a s t o n
... in 1989 and 1990, peaked in 1991, and steadily declined during 1992. The decrease in loans that are behind in payments (the nonaccruing and 90 days past due categories) is heartening; yet banks continue to hold a substantial portfolio, $4.3 billion, of other real estate owned (foreclosd properties) ...
... in 1989 and 1990, peaked in 1991, and steadily declined during 1992. The decrease in loans that are behind in payments (the nonaccruing and 90 days past due categories) is heartening; yet banks continue to hold a substantial portfolio, $4.3 billion, of other real estate owned (foreclosd properties) ...
Catastrophe Bonds: An Important New Financial Instrument
... institutional investor marketplace, in which, in the U.S., securities sales are exempt from most regulatory reporting requirements under Rule 144A of the Securities Act of 1933, if sold in transactions of at least $150 million each to institutional investors. These institutional investors may be ded ...
... institutional investor marketplace, in which, in the U.S., securities sales are exempt from most regulatory reporting requirements under Rule 144A of the Securities Act of 1933, if sold in transactions of at least $150 million each to institutional investors. These institutional investors may be ded ...
The regulatory framework for Hedge Funds in Guernsey
... The Commission has made three sets of open-end fund rules under the POI Law. These are the Class A Rules (originally issued in 1988 and radically revised in 2002), the Class B Rules (issued in 1990) and the Class Q Rules (issued in 1998). The Class A Rules broadly replicate the UK collective investm ...
... The Commission has made three sets of open-end fund rules under the POI Law. These are the Class A Rules (originally issued in 1988 and radically revised in 2002), the Class B Rules (issued in 1990) and the Class Q Rules (issued in 1998). The Class A Rules broadly replicate the UK collective investm ...
Vantage Point - Voya Investment Management
... few blocks away the Federal Reserve is slowly but surely changing course. As expected, October marked the end of the central bank’s asset-purchase program; however, the Fed has insisted that it plans to take a “patient” approach to the looming rate-hike cycle given uncertain global economic prospect ...
... few blocks away the Federal Reserve is slowly but surely changing course. As expected, October marked the end of the central bank’s asset-purchase program; however, the Fed has insisted that it plans to take a “patient” approach to the looming rate-hike cycle given uncertain global economic prospect ...
Unit-Linked Products on the Rise
... costs incurred, and a shift of the target profit margin to a spread on the assets under management, based on the participation in investment management fees. Such competitive comparisons are typically used as the basis for deciding on any particular policy by consumers in the various countries, in a ...
... costs incurred, and a shift of the target profit margin to a spread on the assets under management, based on the participation in investment management fees. Such competitive comparisons are typically used as the basis for deciding on any particular policy by consumers in the various countries, in a ...
how to profit when investors are scared buy low sell high
... from real-life conversations with my clients. My insights into how people think have come from many discussions over the past 15 years in my dealings with investors who represent a wide range of portfolio sizes and risk tolerance. My hope is that all the people who read this book will take away from ...
... from real-life conversations with my clients. My insights into how people think have come from many discussions over the past 15 years in my dealings with investors who represent a wide range of portfolio sizes and risk tolerance. My hope is that all the people who read this book will take away from ...
Fund factsheet - BT Investment Management
... returned 5.1% over the same period. We were happy to be able to return more than the targeted 40 delta with the market as this is normally tough for an overwriting fund when the market rallies in such a sustained manner. From the 9th November “Trump” low, the ASX rallied 7.7% into the end of Novembe ...
... returned 5.1% over the same period. We were happy to be able to return more than the targeted 40 delta with the market as this is normally tough for an overwriting fund when the market rallies in such a sustained manner. From the 9th November “Trump” low, the ASX rallied 7.7% into the end of Novembe ...
Capital Adequacy Ratio
... consists of the G-10 countries’ central bank governors), have agreed upon a scheme of regulation which will be applied to international banks. (What is the BIS?) • The key element of this scheme is a set of requirements relating a minimum amount of bank capital relative to a risk based measure of as ...
... consists of the G-10 countries’ central bank governors), have agreed upon a scheme of regulation which will be applied to international banks. (What is the BIS?) • The key element of this scheme is a set of requirements relating a minimum amount of bank capital relative to a risk based measure of as ...
LoneStar 529 Fund Allocation Sheet
... 6. An investment in the Fund is not insured nor guaranteed by the Federal Deposit Insurance Corporation (FDIC) or any other government agency. Although the Fund seeks to preserve the value of your investment at $1.00 per share, it is possible to lose money by investing in the Fund. 7. Total Plan Fee ...
... 6. An investment in the Fund is not insured nor guaranteed by the Federal Deposit Insurance Corporation (FDIC) or any other government agency. Although the Fund seeks to preserve the value of your investment at $1.00 per share, it is possible to lose money by investing in the Fund. 7. Total Plan Fee ...