Home field advantage - Chandra Asri Petrochemical
... We value the company using a DCF (WACC 6.5%, TG 3%) and FCF model out to 26CL. Over the course of our forecast, we expect its spread to gradually decline toward the average aggregate spread from the previous 10 years. Our implied 18CL EV/Ebitda is 10x and PE 17x. We initiate coverage of the stock wi ...
... We value the company using a DCF (WACC 6.5%, TG 3%) and FCF model out to 26CL. Over the course of our forecast, we expect its spread to gradually decline toward the average aggregate spread from the previous 10 years. Our implied 18CL EV/Ebitda is 10x and PE 17x. We initiate coverage of the stock wi ...
Form ADV Part 2
... For taxable accounts, Wealthfront offers tax-loss harvesting (“TLH”) strategies. Tax-loss harvesting is a technique used to lower your taxes while maintaining the expected risk and return profile of your portfolio. It harvests previously unrecognized investment losses to offset taxes due on your oth ...
... For taxable accounts, Wealthfront offers tax-loss harvesting (“TLH”) strategies. Tax-loss harvesting is a technique used to lower your taxes while maintaining the expected risk and return profile of your portfolio. It harvests previously unrecognized investment losses to offset taxes due on your oth ...
State Auto Financial CORP (Form: 10-K, Received: 03/01
... An insurer that is not required to be licensed in a state but is allowed to do business in that state subject to certain regulatory oversight by that state’s insurance regulatory authority. Non-admitted insurers are not subject to most of the rate and form regulations imposed on admitted insurers be ...
... An insurer that is not required to be licensed in a state but is allowed to do business in that state subject to certain regulatory oversight by that state’s insurance regulatory authority. Non-admitted insurers are not subject to most of the rate and form regulations imposed on admitted insurers be ...
ABN AMRO Holding N.V.
... Business Unit Asia, Business Unit Europe, and Business Unit North America to RBS began in the first half of 2008 and is well underway and many businesses have been re-branded as RBS. Group Functions have been scaled down in line with the separation of businesses. Substantially all assets and liabili ...
... Business Unit Asia, Business Unit Europe, and Business Unit North America to RBS began in the first half of 2008 and is well underway and many businesses have been re-branded as RBS. Group Functions have been scaled down in line with the separation of businesses. Substantially all assets and liabili ...
Foreclosures, House Prices, and the Real Economy
... listings of new houses for sale, and the higher foreclosure propensity persists until 2010. Thus, differences in state laws are associated with a large increase in foreclosure rates that translates into greater housing supply on the market. The strong correlation between state foreclosure laws and f ...
... listings of new houses for sale, and the higher foreclosure propensity persists until 2010. Thus, differences in state laws are associated with a large increase in foreclosure rates that translates into greater housing supply on the market. The strong correlation between state foreclosure laws and f ...
The Kelly Criterion: Implementation, Simulation and
... Given a set of investment opportunities, how should the investment weights should be chosen, in order to have more wealth than anyone else at the end of the investment period, assuming equal initial endowments? The Kelly growth-optimum strategy is a betting scheme for an investor or a gambler, who s ...
... Given a set of investment opportunities, how should the investment weights should be chosen, in order to have more wealth than anyone else at the end of the investment period, assuming equal initial endowments? The Kelly growth-optimum strategy is a betting scheme for an investor or a gambler, who s ...
Historical cost measurement and the use of DuPont analysis by
... persistence from asset age portfolios.5 We find that both of these forecasting approaches yield forecast errors that are the most negative for the firms where asset age has declined the most and the most positive for the firms where asset age has increased the most. One interpretation of these resul ...
... persistence from asset age portfolios.5 We find that both of these forecasting approaches yield forecast errors that are the most negative for the firms where asset age has declined the most and the most positive for the firms where asset age has increased the most. One interpretation of these resul ...
UNITED STATES SECURITIES AND EXCHANGE
... In this annual report, the terms "Bradesco," the "Company," the "Bank," the "Bradesco Group," "we,” the “Organization,” “our” and "us" refer to Banco Bradesco S.A., a sociedade anônima organized under the laws of Brazil and, unless otherwise indicated, its consolidated subsidiaries. All references h ...
... In this annual report, the terms "Bradesco," the "Company," the "Bank," the "Bradesco Group," "we,” the “Organization,” “our” and "us" refer to Banco Bradesco S.A., a sociedade anônima organized under the laws of Brazil and, unless otherwise indicated, its consolidated subsidiaries. All references h ...
Venture capital and the financial crisis
... investment decisions for a large part on the level of liquidity risk. Liquidity risk occurs when venture capital firms are not able to effectively exit investments (Cumming et a l., 2005). Research done by Giot & Schwienbacher (2007) and Cumming et al (2005) state that IPO`s are most commonly used b ...
... investment decisions for a large part on the level of liquidity risk. Liquidity risk occurs when venture capital firms are not able to effectively exit investments (Cumming et a l., 2005). Research done by Giot & Schwienbacher (2007) and Cumming et al (2005) state that IPO`s are most commonly used b ...
CRACKER BARREL OLD COUNTRY STORE, INC
... with the Securities and Exchange Commission, press releases and other communications. Cracker Barrel, its directors and certain of its executive officers may be deemed to be participants in the solicitation of proxies from Cracker Barrel shareholders in connection with the matters to be considered a ...
... with the Securities and Exchange Commission, press releases and other communications. Cracker Barrel, its directors and certain of its executive officers may be deemed to be participants in the solicitation of proxies from Cracker Barrel shareholders in connection with the matters to be considered a ...
The pricing of volatility risk across asset classes
... volatility is truly a state variable in the ICAPM sense rather than just another statistical factor, it should be priced consistently across asset classes. Moreover, any valid proxy for the underlying state variable should produce similar results in asset pricing tests. The discipline imposed by cro ...
... volatility is truly a state variable in the ICAPM sense rather than just another statistical factor, it should be priced consistently across asset classes. Moreover, any valid proxy for the underlying state variable should produce similar results in asset pricing tests. The discipline imposed by cro ...
RTF - Vornado Realty Trust
... Certain statements contained herein constitute forward‑looking statements as such term is defined in Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements are not guarantees of future performance. They re ...
... Certain statements contained herein constitute forward‑looking statements as such term is defined in Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements are not guarantees of future performance. They re ...
Understanding and Communicating Risk Appetite
... As an organization decides on its objectives and its approach to achieving strategic goals, it should consider the risks involved, and its appetite for such risks, as a basis for making those important decisions. Those in governance roles should explicitly understand risk appetite when defining and ...
... As an organization decides on its objectives and its approach to achieving strategic goals, it should consider the risks involved, and its appetite for such risks, as a basis for making those important decisions. Those in governance roles should explicitly understand risk appetite when defining and ...
0001193125-13-083748 - Lasalle Hotel Properties
... LaSalle Hotel Properties, a Maryland real estate investment trust, primarily buys, owns, redevelops and leases upscale and luxury full-service hotels located in convention, resort and major urban business markets. We are a self-administered and self-managed REIT as defined in the Internal Revenue Co ...
... LaSalle Hotel Properties, a Maryland real estate investment trust, primarily buys, owns, redevelops and leases upscale and luxury full-service hotels located in convention, resort and major urban business markets. We are a self-administered and self-managed REIT as defined in the Internal Revenue Co ...
161128 APS 210 FINAL clean
... complexity of the ADI. In formulating this strategy, the ADI must consider its legal structure, key business lines, the breadth and diversity of markets, products and jurisdictions in which it operates and home and host regulatory requirements. ...
... complexity of the ADI. In formulating this strategy, the ADI must consider its legal structure, key business lines, the breadth and diversity of markets, products and jurisdictions in which it operates and home and host regulatory requirements. ...
0001193125-13-078669 - Lasalle Hotel Properties
... LaSalle Hotel Properties, a Maryland real estate investment trust, primarily buys, owns, redevelops and leases upscale and luxury full-service hotels located in convention, resort and major urban business markets. We are a self-administered and self-managed REIT as defined in the Internal Revenue Co ...
... LaSalle Hotel Properties, a Maryland real estate investment trust, primarily buys, owns, redevelops and leases upscale and luxury full-service hotels located in convention, resort and major urban business markets. We are a self-administered and self-managed REIT as defined in the Internal Revenue Co ...
International Bank for Reconstruction and Development
... Conducted an expenditure review to identify cost savings that will also help expand margins, improve capital adequacy, and increase lending capacity. Together, these new measures are intended to gradually increase IBRD’s equity, lending capacity, and its ability to sustainably fund priorities that m ...
... Conducted an expenditure review to identify cost savings that will also help expand margins, improve capital adequacy, and increase lending capacity. Together, these new measures are intended to gradually increase IBRD’s equity, lending capacity, and its ability to sustainably fund priorities that m ...
Countries that do not participate in the process of globalisation,... inadequate policies compared to developed or other developing countries, run... CHAPTER 1
... globalisation as being one of the most powerful forces to have shaped the world economy during the past 50 years. Globalisation is characterized by a reduction of barriers between countries, with intensified cross-border trade and increased financial and FDI flows. This borderless world is typically ...
... globalisation as being one of the most powerful forces to have shaped the world economy during the past 50 years. Globalisation is characterized by a reduction of barriers between countries, with intensified cross-border trade and increased financial and FDI flows. This borderless world is typically ...
Geographic dispersion and stock returns
... game in town’’ effect.5 Our paper contributes to this literature by providing evidence on the existence of a link between the geographical scope of a firm and its average stock returns. Geographic dispersion has been shown to be important for a number of questions in economics.6 However, we are the fi ...
... game in town’’ effect.5 Our paper contributes to this literature by providing evidence on the existence of a link between the geographical scope of a firm and its average stock returns. Geographic dispersion has been shown to be important for a number of questions in economics.6 However, we are the fi ...
Learning from the Market - Georgia Council on Economic Education
... I really liked these lessons. They’ll challenge students mathematically and in several other subjects. Hands on! Charts are clear and easy to use. ...
... I really liked these lessons. They’ll challenge students mathematically and in several other subjects. Hands on! Charts are clear and easy to use. ...
Not Just One Man - Barings I. How Leeson Broke Barings II. Lessons
... the floor of an Exchange by just one Member who is both buyer and seller. If a Member has matching buy and sell orders from two different customer accounts for the same contract and at the same price, he is allowed to cross the transaction (execute the deal) by matching both his client accounts. How ...
... the floor of an Exchange by just one Member who is both buyer and seller. If a Member has matching buy and sell orders from two different customer accounts for the same contract and at the same price, he is allowed to cross the transaction (execute the deal) by matching both his client accounts. How ...
An Examination of Primary and Secondary Market Returns in Equity
... are unrelated to these characteristics. The results also indicate that offer-to-open returns are lower for REITs holding a portfolio of real estate assets in a single property type at the time of issue, potentially due to fewer information asymmetry problems, leading to lower price uncertainty for t ...
... are unrelated to these characteristics. The results also indicate that offer-to-open returns are lower for REITs holding a portfolio of real estate assets in a single property type at the time of issue, potentially due to fewer information asymmetry problems, leading to lower price uncertainty for t ...
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.