Reducing bonds? Proceed with caution
... unreasonable, given that the best predictor of bonds’ future returns— that is, their current yield to maturity—projects returns of 1%–2% over the next ten years (according to Davis, Aliaga-Díaz, and Patterson, 2013). With return expectations low and interest rates close to 0%, investors are justifia ...
... unreasonable, given that the best predictor of bonds’ future returns— that is, their current yield to maturity—projects returns of 1%–2% over the next ten years (according to Davis, Aliaga-Díaz, and Patterson, 2013). With return expectations low and interest rates close to 0%, investors are justifia ...
Forward-looking statements
... This document and the accompanying oral presentation contains, CHS Inc. (“CHS”) publicly available documents may contain, and CHS officers, directors and other representatives may from time to time make, “forward–looking statements” within the meaning of the safe harbor provisions of the U.S. Privat ...
... This document and the accompanying oral presentation contains, CHS Inc. (“CHS”) publicly available documents may contain, and CHS officers, directors and other representatives may from time to time make, “forward–looking statements” within the meaning of the safe harbor provisions of the U.S. Privat ...
Asset Management Fees and the Growth of Finance
... mutual funds. These data show no evidence that scale economies have benefited shareholders in actively managed mutual funds. Expense ratios paid by the shareholders of actively managed funds have increased substantially from about 66 basis points in 1980 to over 90 basis points in 2010. While compet ...
... mutual funds. These data show no evidence that scale economies have benefited shareholders in actively managed mutual funds. Expense ratios paid by the shareholders of actively managed funds have increased substantially from about 66 basis points in 1980 to over 90 basis points in 2010. While compet ...
NBER WORKING PAPER SERIES UNCERTAINTY AND LIQUIDITY Alberto Giovannini Working Paper No. 2296
... This paper studies a model where money is valued for the liquidity services it provides in the future. These liquidity services cannot be provided by any other asset. Changes in expectations of the value of future liquidity services affect the desired proportions of money and other assets in agentst ...
... This paper studies a model where money is valued for the liquidity services it provides in the future. These liquidity services cannot be provided by any other asset. Changes in expectations of the value of future liquidity services affect the desired proportions of money and other assets in agentst ...
Homeownership and Investment in Risky Assets in Europe
... match the actual household portfolios. This study shows that risky asset holding patterns vary across countries depending on their financial market structures and degree of financial market development (Note 3 & 4). In market-based economies such as Switzerland and the Netherlands, where the stock m ...
... match the actual household portfolios. This study shows that risky asset holding patterns vary across countries depending on their financial market structures and degree of financial market development (Note 3 & 4). In market-based economies such as Switzerland and the Netherlands, where the stock m ...
Investments: Analysis and Management, Second Canadian Edition
... • TR, RR, and CWI are useful for a given, single time period • What about summarizing returns over several time periods? – Arithmetic mean and geometric mean ...
... • TR, RR, and CWI are useful for a given, single time period • What about summarizing returns over several time periods? – Arithmetic mean and geometric mean ...
internalization and market quality: an empirical
... the spread. Battalio, Green and Jennings (1998) find some evidence in support of this theory in their examination of Merrill Lynch’s October 1995 decision to stop routinely sending orders to Merrill-affiliated specialists on the Boston and Pacific stock exchanges. They find that relative to a matche ...
... the spread. Battalio, Green and Jennings (1998) find some evidence in support of this theory in their examination of Merrill Lynch’s October 1995 decision to stop routinely sending orders to Merrill-affiliated specialists on the Boston and Pacific stock exchanges. They find that relative to a matche ...
What is a Security?
... o No deviation that can be the source of litigation (you told one investor one thing and another investor another). o Oral disclosure is inconsistent, time-consuming and not memorialized to protect you the Issuer, from an investor saying that you didn’t tell the investor a material fact. ...
... o No deviation that can be the source of litigation (you told one investor one thing and another investor another). o Oral disclosure is inconsistent, time-consuming and not memorialized to protect you the Issuer, from an investor saying that you didn’t tell the investor a material fact. ...
stock and mutual financial firms - American Risk and Insurance
... maximizing total utility from the firm. This is in contrast to the stock form where shareholders influence managerial decisions. Since financial capital of stock firms is infinitely divisible, shareholders aim to maximize the per unit return on their equity contribution. Capital divisibility affects ...
... maximizing total utility from the firm. This is in contrast to the stock form where shareholders influence managerial decisions. Since financial capital of stock firms is infinitely divisible, shareholders aim to maximize the per unit return on their equity contribution. Capital divisibility affects ...
The Origins and Severity of the Public Pension Crisis
... Much of the savings of individual investors are focused on retirement. If the market is depressed at the point where they choose to or are forced to retire, then they could have a substantially lower income over the rest of their lifetimes than if they managed to retire when the market was on an ups ...
... Much of the savings of individual investors are focused on retirement. If the market is depressed at the point where they choose to or are forced to retire, then they could have a substantially lower income over the rest of their lifetimes than if they managed to retire when the market was on an ups ...
Chapter 1
... In open markets, financial instruments are sold to the highest bidder, and they can be traded as often as is desirable before they mature. In negotiated markets, the instruments are sold to one or a few buyers under private contract. Financial capital is raised when newly issued securities are s ...
... In open markets, financial instruments are sold to the highest bidder, and they can be traded as often as is desirable before they mature. In negotiated markets, the instruments are sold to one or a few buyers under private contract. Financial capital is raised when newly issued securities are s ...
Pay for Short-Term Performance: Executive Compensation in
... manipulation, ranging from fairly innocuous earnings “smoothing” to outright accounting fraud. This is reflected, for example, in the enormous growth in earnings restatements during the 1990s. While there were only six restatements in 1992, and five in 1993, there were over 700 restatements during t ...
... manipulation, ranging from fairly innocuous earnings “smoothing” to outright accounting fraud. This is reflected, for example, in the enormous growth in earnings restatements during the 1990s. While there were only six restatements in 1992, and five in 1993, there were over 700 restatements during t ...
Payout-Policy-preference-of-Listed-Firms-in-the
... Payout Policy preference of Listed Firms in the Philippines Stock Exchange Abstract Every firm’s goal is to maximize shareholders’ wealth. When a firm has ample cash and wants to distribute it to shareholders, it can do so by means of dividends or stock repurchase. In the U.S., dividend payout is th ...
... Payout Policy preference of Listed Firms in the Philippines Stock Exchange Abstract Every firm’s goal is to maximize shareholders’ wealth. When a firm has ample cash and wants to distribute it to shareholders, it can do so by means of dividends or stock repurchase. In the U.S., dividend payout is th ...
About Our Private Investment Benchmarks
... values as reported by individual fund managers in their quarterly and annual audited financial reports. These returns are net of management fees, expenses and performance fees that take the form of carried interest. ...
... values as reported by individual fund managers in their quarterly and annual audited financial reports. These returns are net of management fees, expenses and performance fees that take the form of carried interest. ...
The Case for Funds of Hedge Funds
... double layer of fees. The argument here is that by levying additional management and/or performance fees on top of the fees already charged by underlying hedge funds, the final product ends up with a very high total expense ratio, which may mean that little could be left over in terms of net perform ...
... double layer of fees. The argument here is that by levying additional management and/or performance fees on top of the fees already charged by underlying hedge funds, the final product ends up with a very high total expense ratio, which may mean that little could be left over in terms of net perform ...
Why listed infrastructure is at the core
... But there are other ways to think about that risk because there’s a risk to being locked into an investment for a long holding period in a direct investment or a fund vehicle, when regulation, political agendas, technology, interest rates and other factors can change and impact the risk and return p ...
... But there are other ways to think about that risk because there’s a risk to being locked into an investment for a long holding period in a direct investment or a fund vehicle, when regulation, political agendas, technology, interest rates and other factors can change and impact the risk and return p ...
The Effect of New York City Sports Outcomes on the Stock Market
... individual's decision making. Financial analysts can influence stocks' behavior through their recommendations by generating a temporary buying or selling pressure. As a result, events that affect local mood like New York City sports outcomes can influence major stock indexes by swaying the sentiment ...
... individual's decision making. Financial analysts can influence stocks' behavior through their recommendations by generating a temporary buying or selling pressure. As a result, events that affect local mood like New York City sports outcomes can influence major stock indexes by swaying the sentiment ...
IPPTChap012
... Copyright © 2014 McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education. ...
... Copyright © 2014 McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education. ...
Risk and Rates of Return
... Firm-Specific, Diversifiable, or Unsystematic Risk … that part of a security’s risk associated with random outcomes generated by events or behaviors specific to the firm; firm-specific risk can be eliminated by proper diversification ...
... Firm-Specific, Diversifiable, or Unsystematic Risk … that part of a security’s risk associated with random outcomes generated by events or behaviors specific to the firm; firm-specific risk can be eliminated by proper diversification ...
Stock Price Manipulation Detection Based on Mathematical Models
... analysis to create stock price manipulation models in Tehran stock exchange. The performances of three aforesaid models were effective. The selected data were thoroughly studied by runs test, skewness test, and duration correlative test. The events of price manipulation were indicated. The selected ...
... analysis to create stock price manipulation models in Tehran stock exchange. The performances of three aforesaid models were effective. The selected data were thoroughly studied by runs test, skewness test, and duration correlative test. The events of price manipulation were indicated. The selected ...
More Finance Questions
... ____ 17. Risk aversion simply means that people dislike bad things to happen. ____ 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 fo ...
... ____ 17. Risk aversion simply means that people dislike bad things to happen. ____ 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 fo ...
The Month of the Year Effect on Dhaka Stock Exchange
... found an April effect in the DSE all return series. But after Bepari and Mollik [15], as per our knowledge, no study has yet been made to examine the presence of month of the year effect considering all the three indices of DSE (DSI index, DGEN index and DSE - 20 index) which has encouraged us to co ...
... found an April effect in the DSE all return series. But after Bepari and Mollik [15], as per our knowledge, no study has yet been made to examine the presence of month of the year effect considering all the three indices of DSE (DSI index, DGEN index and DSE - 20 index) which has encouraged us to co ...
December 2004
... • Tonnage underwritten increased to 11.7 million tonnes as a result of improved seasonal conditions RiskAssist, Basis Pool and OTC (over-the-counter) operations • Decreased PBT contribution from the risk management businesses due to a decline in popularity of the Basis Pool product and a return to m ...
... • Tonnage underwritten increased to 11.7 million tonnes as a result of improved seasonal conditions RiskAssist, Basis Pool and OTC (over-the-counter) operations • Decreased PBT contribution from the risk management businesses due to a decline in popularity of the Basis Pool product and a return to m ...
Launch by GBL of an exchangeable bond for GDF SUEZ shares
... This announcement is not for distribution, directly or indirectly in or into the United States, Canada, Australia or Japan or any other jurisdiction in which publication or distribution would be unlawful. This announcement is not an offer to sell any of the Bonds and/or the shares to be delivered up ...
... This announcement is not for distribution, directly or indirectly in or into the United States, Canada, Australia or Japan or any other jurisdiction in which publication or distribution would be unlawful. This announcement is not an offer to sell any of the Bonds and/or the shares to be delivered up ...
Blending Index Funds to Achieve Higher Returns
... sophisticated investor would add an appropriate share of Canada, such as iShares Canada (EWC). Canada is a good investment to include in your portfolio. Canada, not China, is America’s biggest trading partner. Rich in natural resources, Canada’s oil reserves are second only to Saudi Arabia’s. In fa ...
... sophisticated investor would add an appropriate share of Canada, such as iShares Canada (EWC). Canada is a good investment to include in your portfolio. Canada, not China, is America’s biggest trading partner. Rich in natural resources, Canada’s oil reserves are second only to Saudi Arabia’s. In fa ...
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.