Quest for the Holy Grail: The Fair Value of the
... dividends, have remained above their long-term averages over the last quarter-century, causing a simple contrarian strategy in US equities to fail to outperform a buy-andhold strategy over the same time period. We ask why stock valuations have been steadily increasing, will they continue to rise, an ...
... dividends, have remained above their long-term averages over the last quarter-century, causing a simple contrarian strategy in US equities to fail to outperform a buy-andhold strategy over the same time period. We ask why stock valuations have been steadily increasing, will they continue to rise, an ...
Prospectus published on 20 September 2013
... This Prospectus does not constitute an offer to sell, or the solicitation of an offer to acquire or subscribe for, Shares in any jurisdiction where such an offer or solicitation is unlawful or would impose any unfulfilled registration, qualification, publication or approval requirements on the Compa ...
... This Prospectus does not constitute an offer to sell, or the solicitation of an offer to acquire or subscribe for, Shares in any jurisdiction where such an offer or solicitation is unlawful or would impose any unfulfilled registration, qualification, publication or approval requirements on the Compa ...
Great Expectations
... winners and losers. As we move into second-half 2017, some evidence of follow-through will be very important. Higher interest rates, higher inflation, and a stronger dollar may begin to weigh on sentiment if investors are not convinced of meaningful change. In many ways, the outcome for financial ma ...
... winners and losers. As we move into second-half 2017, some evidence of follow-through will be very important. Higher interest rates, higher inflation, and a stronger dollar may begin to weigh on sentiment if investors are not convinced of meaningful change. In many ways, the outcome for financial ma ...
Financial Markets in Electricity: Introduction to Derivative Instruments
... A futures and options exchange, based in Singapore, trading contracts on crude oil, oil products and equity indices. Spread: The difference between the price of one futures, forward or spot market and the price on another (usually related) futures, forward, or spot market. For example, an electricit ...
... A futures and options exchange, based in Singapore, trading contracts on crude oil, oil products and equity indices. Spread: The difference between the price of one futures, forward or spot market and the price on another (usually related) futures, forward, or spot market. For example, an electricit ...
Securities Trading Policy
... Directors and the CEO, Direct Reports to the CEO, and any other executive specifically designated by the CEO from time-to-time, and members of their immediate family or household, (Covered Employees) wishing to buy or sell the Company’s securities or derivatives or to exercise options over the Compa ...
... Directors and the CEO, Direct Reports to the CEO, and any other executive specifically designated by the CEO from time-to-time, and members of their immediate family or household, (Covered Employees) wishing to buy or sell the Company’s securities or derivatives or to exercise options over the Compa ...
Financial Globalization and Emerging Market Portfolios
... mid 1990’s. In the model, the emerging economy holds nominal bonds of the advanced economy, while issuing FDI-equity claims which are held by the advanced economy. We interpret nominal bond holdings as a measure of foreign exchange reserves. The model delivers explicit solutions for the value of FDI ...
... mid 1990’s. In the model, the emerging economy holds nominal bonds of the advanced economy, while issuing FDI-equity claims which are held by the advanced economy. We interpret nominal bond holdings as a measure of foreign exchange reserves. The model delivers explicit solutions for the value of FDI ...
IIoT Business Drivers and Investment Priorities
... changed to favor the IIoT because “data created by industrial equipment such as wind turbines, jet engines and MRI machines holds more potential business value on a sizeadjusted basis than other types of Big Data associated with the social web, consumer Internet and other sources.” Industrial enterp ...
... changed to favor the IIoT because “data created by industrial equipment such as wind turbines, jet engines and MRI machines holds more potential business value on a sizeadjusted basis than other types of Big Data associated with the social web, consumer Internet and other sources.” Industrial enterp ...
Operating Leverage
... The combination of debt and equity used to finance a firm Target Capital Structure The mix of debt, preferred stock, and common equity with which the firm plans to finance its investments ...
... The combination of debt and equity used to finance a firm Target Capital Structure The mix of debt, preferred stock, and common equity with which the firm plans to finance its investments ...
Jeremy Siegel, Rob Arnott and Other Experts Forecast Equity Returns
... assets between equities and fixed income, and how much you can consume. Given its great importance, the CFA Institute recently convened a group of top-level academics and practitioners to forecast future ERPs – and to reflect on similar predictions they had made a decade ago. The ERP is defined as t ...
... assets between equities and fixed income, and how much you can consume. Given its great importance, the CFA Institute recently convened a group of top-level academics and practitioners to forecast future ERPs – and to reflect on similar predictions they had made a decade ago. The ERP is defined as t ...
Why Risk Management
... Principles-based: broad principles with little structure to guide, flexible and responsive to changes, as judgment is guided by spirit/intention Objectives-based: principles+ where objectives are clearly defined, sufficient detail and structure is given so that standard can be operationalized and ap ...
... Principles-based: broad principles with little structure to guide, flexible and responsive to changes, as judgment is guided by spirit/intention Objectives-based: principles+ where objectives are clearly defined, sufficient detail and structure is given so that standard can be operationalized and ap ...
Manulife Investments GIC
... The Manufacturers Life Insurance Company is the issuer of the Manulife Investments Guaranteed Interest Contract (GIC). Manulife, Manulife Investments, the Manulife Investments For Your Future logo, the Four Cubes Design, the Block Design and Strong Reliable Trustworthy Forward-thinking are trademark ...
... The Manufacturers Life Insurance Company is the issuer of the Manulife Investments Guaranteed Interest Contract (GIC). Manulife, Manulife Investments, the Manulife Investments For Your Future logo, the Four Cubes Design, the Block Design and Strong Reliable Trustworthy Forward-thinking are trademark ...
Fixed Assets - RMIT University
... Frequently asked questions continues: • What should I do if I receive a direct invoice for an asset without a purchase order? – In order to process this invoice, first an asset number must be created by providing the above information to FA Accountant. Quote the new asset number on the invoice and ...
... Frequently asked questions continues: • What should I do if I receive a direct invoice for an asset without a purchase order? – In order to process this invoice, first an asset number must be created by providing the above information to FA Accountant. Quote the new asset number on the invoice and ...
PNC Capital Advisors, LLC
... management services. Pricing is based upon the nature of such services as determined by each client’s specific investment policies, permissible investments, and other portfolio management parameters. Account fees may be negotiable on a case-by-case basis based on various factors, including, but not ...
... management services. Pricing is based upon the nature of such services as determined by each client’s specific investment policies, permissible investments, and other portfolio management parameters. Account fees may be negotiable on a case-by-case basis based on various factors, including, but not ...
On the Construction of an Early-Warning System for Systematic Risk
... If the rate is too high, it would weaken the bank’s capacity to avert risk. If the credit grows too fast, it would increase the fragility of the banking. It reflects the quality of the banks’ operation. ...
... If the rate is too high, it would weaken the bank’s capacity to avert risk. If the credit grows too fast, it would increase the fragility of the banking. It reflects the quality of the banks’ operation. ...
CEE Investment Report 2016
... Poland, Romania and Slovakia will remain in the group of the fastest growing economies in the EU in the coming years1. In 2015, GDP growth in CEE (3.1%) was nearly double that of the euro area (1.6%). According to data provided by the International Monetary Fund, the CEE countries* combined generate ...
... Poland, Romania and Slovakia will remain in the group of the fastest growing economies in the EU in the coming years1. In 2015, GDP growth in CEE (3.1%) was nearly double that of the euro area (1.6%). According to data provided by the International Monetary Fund, the CEE countries* combined generate ...
Cash Reserve Policy
... situations such as a sudden increase in expenses, one-time, nonrecurring expenses that will build long-term capacity, such as staff development, research and development, or investment in infrastructure. Reserves are not intended to replace a permanent loss of funds or eliminate an ongoing budget ga ...
... situations such as a sudden increase in expenses, one-time, nonrecurring expenses that will build long-term capacity, such as staff development, research and development, or investment in infrastructure. Reserves are not intended to replace a permanent loss of funds or eliminate an ongoing budget ga ...
Not so Great Expectations: A Model of Growth and Informational Frictions
... between recessions with …nancial origins and slow recoveries by illustrating how …nancial crises during downturns can delay recoveries by distorting …rm expectations, which depresses real investment and feeds back into the incentives for …nancial market participants to trade on their private informa ...
... between recessions with …nancial origins and slow recoveries by illustrating how …nancial crises during downturns can delay recoveries by distorting …rm expectations, which depresses real investment and feeds back into the incentives for …nancial market participants to trade on their private informa ...
Nepal - NRNA
... cement, sugar, flour, salt, pasta, beverages and real estate, with new projects in development in the oil and Natural gas, telecommunications, fertilizer and steel. The Group focuses on provision of local, value-added products and services that meet the needs of the African population. Dangote Cemen ...
... cement, sugar, flour, salt, pasta, beverages and real estate, with new projects in development in the oil and Natural gas, telecommunications, fertilizer and steel. The Group focuses on provision of local, value-added products and services that meet the needs of the African population. Dangote Cemen ...
Course 3: Capital Budgeting Analysis
... with our project. Changes in net working capital will sometimes reverse themselves at the end of the project. 3. Overhead: Many capital projects can result in increases to allocated overheads, such as computer support services. However, the subjective nature of overhead allocations may not make any ...
... with our project. Changes in net working capital will sometimes reverse themselves at the end of the project. 3. Overhead: Many capital projects can result in increases to allocated overheads, such as computer support services. However, the subjective nature of overhead allocations may not make any ...
Investment fund
An investment fund is a way of investing money alongside other investors in order to benefit from the inherent advantages of working as part of a group. These advantages include an ability to: hire professional investment managers, which may potentially be able to offer better returns and more adequate risk management; benefit from economies of scale, i.e., lower transaction costs; increase the asset diversification to reduce some unsystemic risk.Terminology varies with country but investment funds are often referred to as investment pools, collective investment vehicles, collective investment schemes, managed funds, or simply funds. An investment fund may be held by the public, such as a mutual fund, exchange-traded fund, or closed-end fund, or it may be sold only in a private placement, such as a hedge fund or private equity fund. The term also includes specialized vehicles such as collective and common trust funds, which are unique bank-managed funds structured primarily to commingle assets from qualifying pension plans or trusts.Investment funds are promoted with a wide range of investment aims either targeting specific geographic regions (e.g., emerging markets or Europe) or specified industry sectors (e.g., technology). Depending on the country there is normally a bias towards the domestic market due to familiarity, and the lack of currency risk. Funds are often selected on the basis of these specified investment aims, their past investment performance, and other factors such as fees.