Quarterly Portfolio Report The Science of Capital Markets. The Art of
... Data is in Canadian dollars. MSCI EAFE Small index return is price only prior to January 1999 data inception. MSCI Emerging index return is gross dividends prior to January 1999 data inception. S&P Global REIT index return is gross dividends prior to January 2001 data inception. S&P/TSX data provide ...
... Data is in Canadian dollars. MSCI EAFE Small index return is price only prior to January 1999 data inception. MSCI Emerging index return is gross dividends prior to January 1999 data inception. S&P Global REIT index return is gross dividends prior to January 2001 data inception. S&P/TSX data provide ...
Investor Expectations and the Volatility Puzzle in the Japanese
... where, VolaEq is the stock price volatility of stock i, MVi is its market capitalization, B/P is the book to price ratio, SDi,j is a dummy variable for industrial sector j, and the weight of each observation is set to 1. Table 4 Panel B reports the descriptive statistics for quintile portfolios base ...
... where, VolaEq is the stock price volatility of stock i, MVi is its market capitalization, B/P is the book to price ratio, SDi,j is a dummy variable for industrial sector j, and the weight of each observation is set to 1. Table 4 Panel B reports the descriptive statistics for quintile portfolios base ...
The informal investment context - Asociación española de ciencia
... 2. The concept of informal investment Business angels form part of the informal investment sector that exists in all economies, which some authors refer to as the «informal venture capital market». However this market is highly heterogeneous and contains investors of various kinds (Politis, 2008). ...
... 2. The concept of informal investment Business angels form part of the informal investment sector that exists in all economies, which some authors refer to as the «informal venture capital market». However this market is highly heterogeneous and contains investors of various kinds (Politis, 2008). ...
Do Legal Origins Have Persistent Effects Over Time?
... This draft December 2007. Preliminary and incomplete. ...
... This draft December 2007. Preliminary and incomplete. ...
Calvert High Yield Bond Fund
... part, reflect the market’s expectations for higher U.S. economic growth and inflation. As a result of the Federal Reserve’s recent decision to raise the target fed funds rate following a similar move last year and the possibility that it may continue with such rate increases and/or unwind its quant ...
... part, reflect the market’s expectations for higher U.S. economic growth and inflation. As a result of the Federal Reserve’s recent decision to raise the target fed funds rate following a similar move last year and the possibility that it may continue with such rate increases and/or unwind its quant ...
Competition for Natural Resources and the Hold-Up
... and host country governments and addressed the question how the hold-up problem may be overcome and how optimal contracts may look like. These existing studies of the hold-up problem only consider host governments which cannot commit themselves not to take the lion’s share of the returns of an inves ...
... and host country governments and addressed the question how the hold-up problem may be overcome and how optimal contracts may look like. These existing studies of the hold-up problem only consider host governments which cannot commit themselves not to take the lion’s share of the returns of an inves ...
10 things everyone should know about smart beta strategies
... (enhanced returns or reduced risk compared with a benchmark). We view them as being on a continuum (see Exhibit 1). 3. How are smart beta strategies different from market-cap strategies? Market-cap strategies provide the largest weighting to the largest companies based on market capitalization. Smar ...
... (enhanced returns or reduced risk compared with a benchmark). We view them as being on a continuum (see Exhibit 1). 3. How are smart beta strategies different from market-cap strategies? Market-cap strategies provide the largest weighting to the largest companies based on market capitalization. Smar ...
Investment Analysis and Portfolio Management
... IPS provides a long-term plan for an investor and a basis for making disciplined investment decisions over time. The absence of an investment policy statement reduces decision making to an individual-event basis and often leads to pursuing short-term opportunities that may not contribute to, or may ...
... IPS provides a long-term plan for an investor and a basis for making disciplined investment decisions over time. The absence of an investment policy statement reduces decision making to an individual-event basis and often leads to pursuing short-term opportunities that may not contribute to, or may ...
AMENDMENT NO. 1 DATED JULY 21, 2016 TO
... The Hurdle Rate strategy looks at companies that are in depressed sectors, but are strong enough to survive the hard times, and are likely to lead the rebound of their ...
... The Hurdle Rate strategy looks at companies that are in depressed sectors, but are strong enough to survive the hard times, and are likely to lead the rebound of their ...
Dreyfus Variable Investment Fund: International Value Portfolio
... The fund seeks long-term capital growth. To pursue its goal, the fund normally invests at least 80% of its net assets, plus any borrowings for investment purposes, in stocks. The fund normally invests substantially all of its assets in the stocks of foreign companies, including those located in emer ...
... The fund seeks long-term capital growth. To pursue its goal, the fund normally invests at least 80% of its net assets, plus any borrowings for investment purposes, in stocks. The fund normally invests substantially all of its assets in the stocks of foreign companies, including those located in emer ...
Proposed Amendments to National Instrument 23
... On May 15, 2014, the CSA published for comment proposed amendments to NI 23-101 that would, amongst other changes, introduce trading fee caps for exchange-traded securities (the 2014 Notice).2 The fee caps were proposed to address concerns raised by marketplace participants related to the implicatio ...
... On May 15, 2014, the CSA published for comment proposed amendments to NI 23-101 that would, amongst other changes, introduce trading fee caps for exchange-traded securities (the 2014 Notice).2 The fee caps were proposed to address concerns raised by marketplace participants related to the implicatio ...
"Sophisticated Trading and Market Efficiency: Evidence from Macroeconomic News Announcements"
... {long} bonds before news reports predicted to be above {below} a given threshold. Even after transaction costs, the Sharpe ratios are sizable: the Sharpe ratio is as high as 0.82 for stocks and 1.12 for bonds. These risk-adjusted returns are consistent with the interpretation that sophisticated trad ...
... {long} bonds before news reports predicted to be above {below} a given threshold. Even after transaction costs, the Sharpe ratios are sizable: the Sharpe ratio is as high as 0.82 for stocks and 1.12 for bonds. These risk-adjusted returns are consistent with the interpretation that sophisticated trad ...
Trends in Institutional Investor Use of Fixed Income ETFs
... “We use ETFs to fill out when we can’t find individual bonds.” – Investment manager ...
... “We use ETFs to fill out when we can’t find individual bonds.” – Investment manager ...
The SEI Strategic Portfolios We have prepared the following
... SEI aims to have only the best managers in the portfolios at all times. 4. Portfolio Construction and Management SEI use a manager-of-managers approach to construct their portfolios, which they believe will result in better risk management and more cost-effective implementation. SEI is one of the wo ...
... SEI aims to have only the best managers in the portfolios at all times. 4. Portfolio Construction and Management SEI use a manager-of-managers approach to construct their portfolios, which they believe will result in better risk management and more cost-effective implementation. SEI is one of the wo ...
Capital raising in Australia
... The ability of companies to raise equity capital in the virtual absence of alternative debt issuance or bank funding was an important safety valve that enabled many companies to reduce debt exposure and shore up balance sheets. In some markets, most notably the US and UK, governments felt they had n ...
... The ability of companies to raise equity capital in the virtual absence of alternative debt issuance or bank funding was an important safety valve that enabled many companies to reduce debt exposure and shore up balance sheets. In some markets, most notably the US and UK, governments felt they had n ...
Price-Level Accounting, Full Disclosure, and Rule 10b-5
... supplemental statements would be mandatory for all businesses that desire to have their financial statements certified as in accordance with generally accepted accounting principles. 19 The FASB proposal's response to inflation is not the only one possible. An alternative is to adjust asset figures ...
... supplemental statements would be mandatory for all businesses that desire to have their financial statements certified as in accordance with generally accepted accounting principles. 19 The FASB proposal's response to inflation is not the only one possible. An alternative is to adjust asset figures ...
CEO Pay and Corporate Governance
... and Paul Hribar find that CEOs were as likely to receive bonuses for making acquisitions that negatively affected shareholder wealth (as measured by negative stock returns upon announcement of the acquisition news) as well as for acquisitions that increased shareholder wealth.1 Thus, CEOs receive a ...
... and Paul Hribar find that CEOs were as likely to receive bonuses for making acquisitions that negatively affected shareholder wealth (as measured by negative stock returns upon announcement of the acquisition news) as well as for acquisitions that increased shareholder wealth.1 Thus, CEOs receive a ...
SCHEDULE 14A INFORMATION Proxy Statement Pursuant to
... Bruce C. Gottwald, Floyd D. Gottwald, Jr., John D. Gottwald and William M. Gottwald may be considered a "group" under Section 13(d) of the Securities Exchange Act of 1934, and the shares owned or attributed to them and their children are reported in the table "Security Ownership of Certain Beneficia ...
... Bruce C. Gottwald, Floyd D. Gottwald, Jr., John D. Gottwald and William M. Gottwald may be considered a "group" under Section 13(d) of the Securities Exchange Act of 1934, and the shares owned or attributed to them and their children are reported in the table "Security Ownership of Certain Beneficia ...
ETF Trading and Execution in the European MarketsPDF
... on a daily basis demonstrates precisely why ETF trading volume is not an all-encompassing measure of the fund’s overall liquidity. In order to understand the full liquidity of an ETF, investors must also consider the liquidity of the underlying securities. ...
... on a daily basis demonstrates precisely why ETF trading volume is not an all-encompassing measure of the fund’s overall liquidity. In order to understand the full liquidity of an ETF, investors must also consider the liquidity of the underlying securities. ...
Top 9 financial planning tips
... http://www.bankrate.com/calculators/retirement/401-k-or-roth-ira-calculator.aspx. Calculator that shows the difference between a Traditional 401(k) and a Roth 401(k). http://individual.troweprice.com/public/Retail/Retirement/Retirement-Planning. https://personal.vanguard.com/us/insights/retirement. ...
... http://www.bankrate.com/calculators/retirement/401-k-or-roth-ira-calculator.aspx. Calculator that shows the difference between a Traditional 401(k) and a Roth 401(k). http://individual.troweprice.com/public/Retail/Retirement/Retirement-Planning. https://personal.vanguard.com/us/insights/retirement. ...
Collateral-Motivated Financial Innovation
... were convinced that the subprime mortgage market would soon collapse, and wanted to bet on it. However, they found that existing instruments (e.g., the stocks of home building companies) can offer only an “indirect” bet. The book tells a detailed story of how those investors push investment banks to ...
... were convinced that the subprime mortgage market would soon collapse, and wanted to bet on it. However, they found that existing instruments (e.g., the stocks of home building companies) can offer only an “indirect” bet. The book tells a detailed story of how those investors push investment banks to ...
Stock trader
A stock trader or equity trader or share trader is a person or company involved in trading equity securities. Stock traders may be an agent, hedger, arbitrageur, speculator, stockbroker or investor. A stock investor is an individual or company who puts money to use by the purchase of equity securities, offering potential profitable returns, as interest, income, or appreciation in value (capital gains). This buy-and-hold long term strategy is passive in nature, as opposed to speculation, which is typically active in nature. Many stock speculators will trade bonds (and possibly other financial assets) as well. Stock speculation is a risky and complex occupation because the direction of the markets are generally unpredictable and lack transparency, also financial regulators are sometimes unable to adequately detect, prevent and remediate irregularities committed by malicious listed companies or other financial market participants. In addition, the financial markets are usually subjected to speculation.