Key Investor Information
... The risk category was calculated using historical performance data and may not be a reliable indicator of the fund's future risk profile. The fund's risk category is not guaranteed to remain fixed and may change over time. A fund in the lowest category does not mean a risk-free investment. The fund ...
... The risk category was calculated using historical performance data and may not be a reliable indicator of the fund's future risk profile. The fund's risk category is not guaranteed to remain fixed and may change over time. A fund in the lowest category does not mean a risk-free investment. The fund ...
IS JAPAN ‘BACK’? 2013 th
... A rise in investment is actually a ‘good thing’ when your starting point is capital consumption (let’s glide over the data quality complications…) Raising dividends would also be a ‘good thing’ for profits because it would increase the income of capitalists Implication is that ‘Abe-nomics’ will real ...
... A rise in investment is actually a ‘good thing’ when your starting point is capital consumption (let’s glide over the data quality complications…) Raising dividends would also be a ‘good thing’ for profits because it would increase the income of capitalists Implication is that ‘Abe-nomics’ will real ...
A Rational Expectation Model
... and outflow of foreign capital. Financial globalization, like many other socio-economic and political policies will certainly invite controversy and hence instigate much desired debate among the policy makers, parliamentarians, social thinkers, economists at all levels of the society. So, prior to t ...
... and outflow of foreign capital. Financial globalization, like many other socio-economic and political policies will certainly invite controversy and hence instigate much desired debate among the policy makers, parliamentarians, social thinkers, economists at all levels of the society. So, prior to t ...
1.0 Introduction The modern engineering science has perhaps led
... offers investors a slight arbitrage opportunity if they could correctly time the market, and the demand side is also boosted by lower unemployment rates and increasing purchasing power of end-users. Furthermore, government officials have stated that there are no expectations of sharp increases in in ...
... offers investors a slight arbitrage opportunity if they could correctly time the market, and the demand side is also boosted by lower unemployment rates and increasing purchasing power of end-users. Furthermore, government officials have stated that there are no expectations of sharp increases in in ...
Dirk Lohmann
... are quoted from any external source, such information or statistics should not be interpreted as having been adopted or endorsed by Converium as being accurate. Neither Converium nor any of its directors, officers, employees and advisors nor any other person shall have any liability whatsoever for l ...
... are quoted from any external source, such information or statistics should not be interpreted as having been adopted or endorsed by Converium as being accurate. Neither Converium nor any of its directors, officers, employees and advisors nor any other person shall have any liability whatsoever for l ...
An Efficient Factor from Basis “Anomalies”
... of new stock return predictabilities thus should be disciplined by whether the “new” reliably improves the mean-variance efficiency of the “old”. The hundreds of “unique anomalies” that emerged over the decades are most likely the results of inadequate asset pricing models, rather than market ineffi ...
... of new stock return predictabilities thus should be disciplined by whether the “new” reliably improves the mean-variance efficiency of the “old”. The hundreds of “unique anomalies” that emerged over the decades are most likely the results of inadequate asset pricing models, rather than market ineffi ...
global fixed income necessary in well-diversified portfolios
... “We are in the lower-for-longer camp, but the camp is getting very crowded,” said Hazaveh. “We think interest rates are going to remain low, but the lower-for-longer camp is going to be challenged if there’s a shift in the current economic policy approach. One such shift is in front of us with popul ...
... “We are in the lower-for-longer camp, but the camp is getting very crowded,” said Hazaveh. “We think interest rates are going to remain low, but the lower-for-longer camp is going to be challenged if there’s a shift in the current economic policy approach. One such shift is in front of us with popul ...
Uncovering the Gem: Hidden Elements in ASC Valuation
... between well-informed buyers and sellers who are not otherwise in a position to generate business for the other party, on the date of acquisition of the asset.” Usually, the fair market price is the price at which bona fide sales have been consummated for assets of like type, quality, and quantity i ...
... between well-informed buyers and sellers who are not otherwise in a position to generate business for the other party, on the date of acquisition of the asset.” Usually, the fair market price is the price at which bona fide sales have been consummated for assets of like type, quality, and quantity i ...
Key Investor Information
... The risk category was calculated using historical performance data and may not be a reliable indicator of the fund's future risk profile. The fund's risk category is not guaranteed to remain fixed and may change over time. A fund in the lowest category does not mean a risk-free investment. The fund ...
... The risk category was calculated using historical performance data and may not be a reliable indicator of the fund's future risk profile. The fund's risk category is not guaranteed to remain fixed and may change over time. A fund in the lowest category does not mean a risk-free investment. The fund ...
Stock Price - Brooklyn Public Library
... A bid is the highest price that someone is willing to pay for a share of a specific stock at a specific time; the price you can sell the stock. The ask is the opposite: it’s the lowest price that someone is willing to sell the stock and the price ...
... A bid is the highest price that someone is willing to pay for a share of a specific stock at a specific time; the price you can sell the stock. The ask is the opposite: it’s the lowest price that someone is willing to sell the stock and the price ...
Why is the Cost of Capital so high in South Africa?
... Returns to capital less the Cost of Capital = Economic Value Added if positive, Economic Value Destroyed if negative A company whose auditors say it is ‘profitable’ and whose ‘profits’ are taxed by the Government is not truly profitable unless it also covers its cost of capital! ...
... Returns to capital less the Cost of Capital = Economic Value Added if positive, Economic Value Destroyed if negative A company whose auditors say it is ‘profitable’ and whose ‘profits’ are taxed by the Government is not truly profitable unless it also covers its cost of capital! ...
Advanced Derivatives: swaps beyond plain vanilla Structured notes
... sell call to pay for put: choose put so that loss possibility at least 10%. (Investor is “at risk”, not an IRS “constructive sale”). ...
... sell call to pay for put: choose put so that loss possibility at least 10%. (Investor is “at risk”, not an IRS “constructive sale”). ...
Knowledge Market Theory - Annual International Real Options
... by the organization’s knowledge assets (such as people, processes, capabilities, and information technology). This, in turn, was intended to shift management’s investment focus from some variation of cost containment to value creation. After over fifteen years of use, the fundamental theory, known a ...
... by the organization’s knowledge assets (such as people, processes, capabilities, and information technology). This, in turn, was intended to shift management’s investment focus from some variation of cost containment to value creation. After over fifteen years of use, the fundamental theory, known a ...
Introduction_to_Volatility
... Day-to-day market movements reflect the buying and selling decisions of millions of investors. Market prices change from one moment to the next. Volatility is defined as the variation of an asset's returns, and indicates the range of a return's movement. Large Volatility values mean that returns flu ...
... Day-to-day market movements reflect the buying and selling decisions of millions of investors. Market prices change from one moment to the next. Volatility is defined as the variation of an asset's returns, and indicates the range of a return's movement. Large Volatility values mean that returns flu ...
Presentation Title
... REITs and Commodities posted another positive month, as the FTSE NAREIT All Equity Index and DJ-UBS Commodity Index each gained 0.4%. Both asset classes are up strongly thus far in 2014. ...
... REITs and Commodities posted another positive month, as the FTSE NAREIT All Equity Index and DJ-UBS Commodity Index each gained 0.4%. Both asset classes are up strongly thus far in 2014. ...
Finance Committee
... o The second year of a four-year phase-in of the School of Engineering and Applied Science differential tuition will be implemented, with both first- and second-year undergraduate students paying $2,000 more than the base undergraduate tuition rate. o Tuition rates for graduate and professional scho ...
... o The second year of a four-year phase-in of the School of Engineering and Applied Science differential tuition will be implemented, with both first- and second-year undergraduate students paying $2,000 more than the base undergraduate tuition rate. o Tuition rates for graduate and professional scho ...
Chapter 18
... • Your degree of risk tolerance • Your expectations about economic conditions – If you expect a strong stock market, invest in stocks – If you expect a weak stock market, invest in bonds – If you expect lower interest rates, invest in long-term bonds – If you expect favorable real estate conditions, ...
... • Your degree of risk tolerance • Your expectations about economic conditions – If you expect a strong stock market, invest in stocks – If you expect a weak stock market, invest in bonds – If you expect lower interest rates, invest in long-term bonds – If you expect favorable real estate conditions, ...
Extreme Value Theory in Finance
... Extreme value theory (EVT) is the theory of modelling and measuring events which occur with very small probability. This implies its usefulness in risk modelling as risky events per definition happen with low probability. Textbooks on EVT include [3, 11, 16, 32, 39, 40]. The book [3] treats extreme ...
... Extreme value theory (EVT) is the theory of modelling and measuring events which occur with very small probability. This implies its usefulness in risk modelling as risky events per definition happen with low probability. Textbooks on EVT include [3, 11, 16, 32, 39, 40]. The book [3] treats extreme ...
notes4 - Shopbegins.Com
... earnings growth and high price/earning ratios in expectation of higher return. Investors need to monitor both company’s performance and industry trend closely, because these stocks are sensitive to change. Riskier than other styles as they rise faster and fall faster. Strategies - focus on cap ...
... earnings growth and high price/earning ratios in expectation of higher return. Investors need to monitor both company’s performance and industry trend closely, because these stocks are sensitive to change. Riskier than other styles as they rise faster and fall faster. Strategies - focus on cap ...
AMP Capital Understanding Infrastructure – a reference guide
... payments. If the asset revenue is contracted on an availability basis, then the returns from the asset can be compared with those of a government bond. In addition to how individual assets are defined, it is also important to understand how infrastructure is defined in an overall portfolio context. ...
... payments. If the asset revenue is contracted on an availability basis, then the returns from the asset can be compared with those of a government bond. In addition to how individual assets are defined, it is also important to understand how infrastructure is defined in an overall portfolio context. ...
7 tips to weather market volatility and stay
... As you saw on page 1, fixed income as a broad asset class typically does not move in lockstep with the stock market. Because of its low correlation to equities, fixed income provides a good source of diversification and can help manage the volatility of the stock market. It’s important to also under ...
... As you saw on page 1, fixed income as a broad asset class typically does not move in lockstep with the stock market. Because of its low correlation to equities, fixed income provides a good source of diversification and can help manage the volatility of the stock market. It’s important to also under ...
Risk Management and Financial Institutions
... distributed. They will be comfortable using the same volatility to value all options on a particular exchange rate. But you know that the lognormal assumption is not a good one for exchange rates. What should you do? – You should buy deep-out-of-the-money call and put options on a variety of differe ...
... distributed. They will be comfortable using the same volatility to value all options on a particular exchange rate. But you know that the lognormal assumption is not a good one for exchange rates. What should you do? – You should buy deep-out-of-the-money call and put options on a variety of differe ...
A Fresh Look at the Required Return
... market is above or below the ‘normal’ range better than many other market signal. Making investments when the Required Return is high can be the best time to make investments (or to repurchase shares) as the company is able to acquire cash flow when those cash flow streams are being discounted in th ...
... market is above or below the ‘normal’ range better than many other market signal. Making investments when the Required Return is high can be the best time to make investments (or to repurchase shares) as the company is able to acquire cash flow when those cash flow streams are being discounted in th ...
How Much Diversification is Enough
... theory, but both are consistent with behavioral portfolio theory. The benefits of diversification as measured by the rules of mean–variance portfolio theory have increased in recent years, but the level of diversification in investor portfolios has not. It remains much below the optimal level curren ...
... theory, but both are consistent with behavioral portfolio theory. The benefits of diversification as measured by the rules of mean–variance portfolio theory have increased in recent years, but the level of diversification in investor portfolios has not. It remains much below the optimal level curren ...
Short- Sale Constraints and Dispersion of Opinion: Evidence from
... binding all stocks and investors. The model follows Chen et al. (2002), but it differs in that all investors are short sale constrained. The model assumes that there is one risky asset in the market. Investors choose how much to invest in that asset, considering that their only alternative is to inv ...
... binding all stocks and investors. The model follows Chen et al. (2002), but it differs in that all investors are short sale constrained. The model assumes that there is one risky asset in the market. Investors choose how much to invest in that asset, considering that their only alternative is to inv ...
Beta (finance)
In finance, the beta (β) of an investment is a measure of the risk arising from exposure to general market movements as opposed to idiosyncratic factors. The market portfolio of all investable assets has a beta of exactly 1. A beta below 1 can indicate either an investment with lower volatility than the market, or a volatile investment whose price movements are not highly correlated with the market. An example of the first is a treasury bill: the price does not go up or down a lot, so it has a low beta. An example of the second is gold. The price of gold does go up and down a lot, but not in the same direction or at the same time as the market.A beta greater than one generally means that the asset both is volatile and tends to move up and down with the market. An example is a stock in a big technology company. Negative betas are possible for investments that tend to go down when the market goes up, and vice versa. There are few fundamental investments with consistent and significant negative betas, but some derivatives like equity put options can have large negative betas.Beta is important because it measures the risk of an investment that cannot be reduced by diversification. It does not measure the risk of an investment held on a stand-alone basis, but the amount of risk the investment adds to an already-diversified portfolio. In the capital asset pricing model, beta risk is the only kind of risk for which investors should receive an expected return higher than the risk-free rate of interest.The definition above covers only theoretical beta. The term is used in many related ways in finance. For example, the betas commonly quoted in mutual fund analyses generally measure the risk of the fund arising from exposure to a benchmark for the fund, rather than from exposure to the entire market portfolio. Thus they measure the amount of risk the fund adds to a diversified portfolio of funds of the same type, rather than to a portfolio diversified among all fund types.Beta decay refers to the tendency for a company with a high beta coefficient (β > 1) to have its beta coefficient decline to the market beta. It is an example of regression toward the mean.