Investor Behaviour and Lottery Stocks
... gains and risk seeking following losses. Specifically, the authors show that “a person who has not made peace with his losses is likely to accept gambles that would be unacceptable to him otherwise” (1979: 287). According to prospect theory, investors will make riskier decisions after a loss on thei ...
... gains and risk seeking following losses. Specifically, the authors show that “a person who has not made peace with his losses is likely to accept gambles that would be unacceptable to him otherwise” (1979: 287). According to prospect theory, investors will make riskier decisions after a loss on thei ...
Vanguard`s framework for constructing globally diversified portfolios
... subject to interest rate, credit, and inflation risk. Prices of mid and small-cap stocks often fluctuate more than those of large-company stocks. Funds that concentrate on a relatively narrow market sector face the risk of higher share-price volatility. Foreign investing involves additional risks in ...
... subject to interest rate, credit, and inflation risk. Prices of mid and small-cap stocks often fluctuate more than those of large-company stocks. Funds that concentrate on a relatively narrow market sector face the risk of higher share-price volatility. Foreign investing involves additional risks in ...
Key investor information.
... category is not fixed and may shift over time. The lowest category does not mean a risk-free investment. Equity funds in general are more volatile than bond funds. Equity funds with a focus on small and midcap listed companies are more volatile as price movements of shares within this category tend ...
... category is not fixed and may shift over time. The lowest category does not mean a risk-free investment. Equity funds in general are more volatile than bond funds. Equity funds with a focus on small and midcap listed companies are more volatile as price movements of shares within this category tend ...
Chapter 18
... Fixed number of shares Cannot buy the shares directly from the fund (except at the inception of the fund) Limitation on shares outstanding Fund does not stand ready to buy shares back Purchasers/sellers must trade with each other ...
... Fixed number of shares Cannot buy the shares directly from the fund (except at the inception of the fund) Limitation on shares outstanding Fund does not stand ready to buy shares back Purchasers/sellers must trade with each other ...
Definitions to Basic Technical Analysis Terms
... Confirmation or validation that an event has occurred. Events are first recognized and deemed to have occurred based on the definition of the event type. The date on which an event is "found" is referred to as the "event date". Each event type must pass additional criteria to be considered "confirme ...
... Confirmation or validation that an event has occurred. Events are first recognized and deemed to have occurred based on the definition of the event type. The date on which an event is "found" is referred to as the "event date". Each event type must pass additional criteria to be considered "confirme ...
Presidential Elections and the Stock Market:
... and financial markets. Scholars studying currency, stock and bond markets have examined the role that electoral systems, elections, partisanship, and political uncertainty play in shaping both the value and volatility of financial assets (e.g., Freeman, Hays and Stix 2000; Martin and Moore 2003; Leb ...
... and financial markets. Scholars studying currency, stock and bond markets have examined the role that electoral systems, elections, partisanship, and political uncertainty play in shaping both the value and volatility of financial assets (e.g., Freeman, Hays and Stix 2000; Martin and Moore 2003; Leb ...
Amihud, Y
... and Quantitative Analysis, September, 337- 351. Jegadeesh, N., and S. Titman (1993) Returns to buying winners and selling losers: Implications for stock market efficiency, Journal of Finance, 48, 65-91. Jones, S. L., Lee, W., and R. Apenbrink (1991) New evidence on the January effect before personal ...
... and Quantitative Analysis, September, 337- 351. Jegadeesh, N., and S. Titman (1993) Returns to buying winners and selling losers: Implications for stock market efficiency, Journal of Finance, 48, 65-91. Jones, S. L., Lee, W., and R. Apenbrink (1991) New evidence on the January effect before personal ...
Good First--and Maybe Only--Funds
... managers aren't actively managing their funds--put another way, they aren't making buy and sell decisions but simply doing what the index does--management fees tend to be low. Index funds are also advantageous because they are fairly predictable. First, they tend to return what the index does, minus ...
... managers aren't actively managing their funds--put another way, they aren't making buy and sell decisions but simply doing what the index does--management fees tend to be low. Index funds are also advantageous because they are fairly predictable. First, they tend to return what the index does, minus ...
Horizontal Analysis
... The purpose of a business is to earn a profit. If the investment in a business is not earning at least as much as the same amount of money invested in a certificate of deposit or other investment vehicle, why work so hard? The next set of measures help to determine whether the business is profitabl ...
... The purpose of a business is to earn a profit. If the investment in a business is not earning at least as much as the same amount of money invested in a certificate of deposit or other investment vehicle, why work so hard? The next set of measures help to determine whether the business is profitabl ...
The analysis of company failure and financial distress is the subject
... In this scenario, the company is formed by a small group of people with just a few employees. Argenti noted that the founders of this type of company are usually highly confident, extrovert individuals and are more likely to have a background in sales or marketing rather than in a technical discipl ...
... In this scenario, the company is formed by a small group of people with just a few employees. Argenti noted that the founders of this type of company are usually highly confident, extrovert individuals and are more likely to have a background in sales or marketing rather than in a technical discipl ...
April 24, 2017 JNL/American Funds Blue Chip
... Financial services risk – An investment in issuers in the financial services sector may be adversely affected by, among other things: (i) changes in the regulatory framework or interest rates that may negatively affect financial service businesses; (ii) exposure of a financial institution to a non-d ...
... Financial services risk – An investment in issuers in the financial services sector may be adversely affected by, among other things: (i) changes in the regulatory framework or interest rates that may negatively affect financial service businesses; (ii) exposure of a financial institution to a non-d ...
Understanding Secular Stock Market Cycles
... reasonably accurate ranges based upon economic assumptions. Stock market returns are not random over longer-term periods. Although the general level of stock market return is challenging to predict over days, weeks, quarters, and a few years, the relative level of stock market return is often fairly ...
... reasonably accurate ranges based upon economic assumptions. Stock market returns are not random over longer-term periods. Although the general level of stock market return is challenging to predict over days, weeks, quarters, and a few years, the relative level of stock market return is often fairly ...
JIA 105 (1978) 15-26 - Institute and Faculty of Actuaries
... the history of a particular group of stocks of a particular coupon level then it cannot represent the current position of a market in which that particular group of stocks is no longer typical, and, contrariwise, if it is to represent the current position of the market then it must also reflect the ...
... the history of a particular group of stocks of a particular coupon level then it cannot represent the current position of a market in which that particular group of stocks is no longer typical, and, contrariwise, if it is to represent the current position of the market then it must also reflect the ...
Are Entrepreneur-Led Companies Better?
... suggests that owner-controlled companies outperform agent-operated corporations as the interests of management and shareholders are better aligned. On the other hand, Fama (1980), in his managerial labor market hypothesis posits that good managerial talent can be hired away by other organizations. V ...
... suggests that owner-controlled companies outperform agent-operated corporations as the interests of management and shareholders are better aligned. On the other hand, Fama (1980), in his managerial labor market hypothesis posits that good managerial talent can be hired away by other organizations. V ...
Stock Market Overreaction to Bad News in Good Times: A Rational
... higher levels of volatility and time-varying expected returns. Wang (1993) and Grundy and Kim (1995) motivate the high volatility of stock returns using information asymmetry among investors. Here informed traders hedge against the behavior of uninformed traders and cause high levels of volatility. ...
... higher levels of volatility and time-varying expected returns. Wang (1993) and Grundy and Kim (1995) motivate the high volatility of stock returns using information asymmetry among investors. Here informed traders hedge against the behavior of uninformed traders and cause high levels of volatility. ...
Revisiting the low volatility anomaly
... This material has not been reviewed by the SFC and is provided to you on the basis that you are a Professional Investor as defined in the Securities and Futures Ordinance (Cap.571) (the “Ordinance”). By accepting this material you acknowledge and agree that this material is provided for your use onl ...
... This material has not been reviewed by the SFC and is provided to you on the basis that you are a Professional Investor as defined in the Securities and Futures Ordinance (Cap.571) (the “Ordinance”). By accepting this material you acknowledge and agree that this material is provided for your use onl ...
Arbitrage. Risk neutral valuation relationship
... • Wealth of the initial portfolio is zero. Assets can be held in positive and negative amounts but the net value of the portfolio is zero. • It is risk-free and provides positive or at least null payoffs in every state of the nature. An arbitrage opportunity is given by the exploitation of an arbitr ...
... • Wealth of the initial portfolio is zero. Assets can be held in positive and negative amounts but the net value of the portfolio is zero. • It is risk-free and provides positive or at least null payoffs in every state of the nature. An arbitrage opportunity is given by the exploitation of an arbitr ...
Equity Income and Dividend Growth Strategies
... Fixed income securities are subject to interest rate risk. Generally, when interest rates rise, bond prices fall, and vice versa. Specific-sector investing can be subject to different and greater risks than more diversified investments. The Consumer Price Index (CPI) is a measure of inflation. Inves ...
... Fixed income securities are subject to interest rate risk. Generally, when interest rates rise, bond prices fall, and vice versa. Specific-sector investing can be subject to different and greater risks than more diversified investments. The Consumer Price Index (CPI) is a measure of inflation. Inves ...
DOES SHAREHOLDER COMPOSITION AFFECT STOCK RETURNS?
... Even within the classifications of manager types, however, there is likely to be significant variation in trading behavior. A further limitation to the Spectrum manager type classifications is that each manager includes all client accounts in a single 13(f) filing. For example, many investment manag ...
... Even within the classifications of manager types, however, there is likely to be significant variation in trading behavior. A further limitation to the Spectrum manager type classifications is that each manager includes all client accounts in a single 13(f) filing. For example, many investment manag ...
A REVIEW OF THE CAPITAL STRUCTURE THEORIES Popescu
... The 1958 paper stimulated serious research devoted to disproving irrelevance as a matter of theory or as an empirical matter. This research has shown that the Modigliani-Miller theorem fails under a variety of circumstances. The most commonly used elements include consideration of taxes, transaction ...
... The 1958 paper stimulated serious research devoted to disproving irrelevance as a matter of theory or as an empirical matter. This research has shown that the Modigliani-Miller theorem fails under a variety of circumstances. The most commonly used elements include consideration of taxes, transaction ...
Marketization, Globalization, Financialization: The
... put in place a business system that enabled US industry to generate what were at the time, given prevailing factor costs, higher quality and lower cost products than elsewhere. Critical to US success were business enterprises that could develop and utilize the knowledge base that US government inves ...
... put in place a business system that enabled US industry to generate what were at the time, given prevailing factor costs, higher quality and lower cost products than elsewhere. Critical to US success were business enterprises that could develop and utilize the knowledge base that US government inves ...
Resolution No - Relacje inwestorskie
... (∆P2009/P0) * 100% – percentage change in the Company's share price at the end of the Financial Year 2009 compared to the average share price of the Company at the end of the Financial Year 2008 (∆W2009/W0) * 100% – percentage change in the sWIG80 index at the end of the Financial Year 2009 compare ...
... (∆P2009/P0) * 100% – percentage change in the Company's share price at the end of the Financial Year 2009 compared to the average share price of the Company at the end of the Financial Year 2008 (∆W2009/W0) * 100% – percentage change in the sWIG80 index at the end of the Financial Year 2009 compare ...
What Matters for Emerging Market Investments
... are significant deviations from normality in the distributions of many of the emerging market returns. For the past five years, normality can be rejected by the Bera-Jarque [1982] test in thirteen of twenty countries. We also investigate how -these summary statistics change from the 1980s to the 199 ...
... are significant deviations from normality in the distributions of many of the emerging market returns. For the past five years, normality can be rejected by the Bera-Jarque [1982] test in thirteen of twenty countries. We also investigate how -these summary statistics change from the 1980s to the 199 ...
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.