Diapositiva 1
... Outcome: being conservative may not be a dominant strategy when all other participants play risky bets. ...
... Outcome: being conservative may not be a dominant strategy when all other participants play risky bets. ...
Waiting can be a winning strategy
... Mr Warren Buffett, one of the world’s most successful investors, credits taking a long-term view as one of the secrets behind his success. Of course, one must have a reason for waiting, and not wait just for the sake of it. Mr Buffett is a long-term value investor. He spots companies whose share pri ...
... Mr Warren Buffett, one of the world’s most successful investors, credits taking a long-term view as one of the secrets behind his success. Of course, one must have a reason for waiting, and not wait just for the sake of it. Mr Buffett is a long-term value investor. He spots companies whose share pri ...
chapter 1: finance theory
... because of the need to utilize a particular risk-adjustment model to produce required returns, that is, to risk-adjust. This would not be a problem if we knew with certainty what the correct risk adjustment model is, but unfortunately we do not. If a test rejects the EMH, is it because the EMH does ...
... because of the need to utilize a particular risk-adjustment model to produce required returns, that is, to risk-adjust. This would not be a problem if we knew with certainty what the correct risk adjustment model is, but unfortunately we do not. If a test rejects the EMH, is it because the EMH does ...
CME Group customer forum
... providers in Hong Kong S.A.R. Further the information contained herein does not constitute the provision of direct access with any foreign financial instrument market or clearing services for foreign financial instrument market transactions defined under Japan’s Financial Instrument & Exchange Act ...
... providers in Hong Kong S.A.R. Further the information contained herein does not constitute the provision of direct access with any foreign financial instrument market or clearing services for foreign financial instrument market transactions defined under Japan’s Financial Instrument & Exchange Act ...
Project Summary
... In Chapter 3, we study how domestic individual investors, financial investors and foreign investors affect stock return volatility at the stock level. We find that foreign investors and domestic financial investors have opposite impacts on stock return volatility. While the former increase return v ...
... In Chapter 3, we study how domestic individual investors, financial investors and foreign investors affect stock return volatility at the stock level. We find that foreign investors and domestic financial investors have opposite impacts on stock return volatility. While the former increase return v ...
stem - MTAEF
... c. providing long-term market forecasts * d. identifying turning points Which of the following is not an underlying assumption of technical analysis? a. prices move in trends b. consensus is usually wrong c. history is cyclical d. risk is quantifiable * In the equity market, a primary trend lasts a. ...
... c. providing long-term market forecasts * d. identifying turning points Which of the following is not an underlying assumption of technical analysis? a. prices move in trends b. consensus is usually wrong c. history is cyclical d. risk is quantifiable * In the equity market, a primary trend lasts a. ...
Review of Topics: Economics 101, Part 1
... Facts on exports, imports and balance of trade Major trading partners Gains from trade Absolute advantage versus comparative advantage Sources of comparative advantage Can trade increase employment? Tariffs, quotas, technical restrictions GATT and World Trade Organization Is NAFTA bad for the U.S.? ...
... Facts on exports, imports and balance of trade Major trading partners Gains from trade Absolute advantage versus comparative advantage Sources of comparative advantage Can trade increase employment? Tariffs, quotas, technical restrictions GATT and World Trade Organization Is NAFTA bad for the U.S.? ...
LMAX EXCHANGE Wall Street 30 (Mini) Contract Terms
... Capitalised terms used shall have the meanings given to them in the LMAX Rulebook, unless the context otherwise requires or unless separately defined herein. The same rules of interpretation set out in the LMAX Rulebook apply. ...
... Capitalised terms used shall have the meanings given to them in the LMAX Rulebook, unless the context otherwise requires or unless separately defined herein. The same rules of interpretation set out in the LMAX Rulebook apply. ...
Downlaod File
... upwards, which could attract new investors. By looking at this figure, investors will be interested in investing not only by buying the Tyson shares, but also by buying other shares in the stock market. The value provides the investors with an easy way to predict the market’s future, especially conc ...
... upwards, which could attract new investors. By looking at this figure, investors will be interested in investing not only by buying the Tyson shares, but also by buying other shares in the stock market. The value provides the investors with an easy way to predict the market’s future, especially conc ...
23/02/2006 - IFIEC Europe
... Electricity prices on the rise all over Europe Wholesale electricity price developments 2000-2005 year-ahead base load in €/MWh ...
... Electricity prices on the rise all over Europe Wholesale electricity price developments 2000-2005 year-ahead base load in €/MWh ...
To calculate historical volatility
... The latter formula for historical volatility is statistically called a non-centered approach. Traders commonly use it because it is closer to what would actually affect their profits and losses. It also performs better when n is small or when there is a strong trend in the stock in question. In othe ...
... The latter formula for historical volatility is statistically called a non-centered approach. Traders commonly use it because it is closer to what would actually affect their profits and losses. It also performs better when n is small or when there is a strong trend in the stock in question. In othe ...
HK`s formula for developing public confidence in exchanges
... today (June 3) shared with participants of an international forum in Beijing Hong Kong's formula for successfully building public confidence in stock exchanges, which is crucial to the development of exchanges. Speaking at the World Federation of Exchanges Forum for Developing Markets, Mr Ma said th ...
... today (June 3) shared with participants of an international forum in Beijing Hong Kong's formula for successfully building public confidence in stock exchanges, which is crucial to the development of exchanges. Speaking at the World Federation of Exchanges Forum for Developing Markets, Mr Ma said th ...
2010 Flash Crash
The May 6, 2010, Flash Crash also known as The Crash of 2:45, the 2010 Flash Crash or simply the Flash Crash, was a United States trillion-dollar stock market crash, which started at 2:32 and lasted for approximately 36 minutes. Stock indexes, such as the S&P 500, Dow Jones Industrial Average and Nasdaq 100, collapsed and rebounded very rapidly.The Dow Jones Industrial Average had its biggest intraday point drop (from the opening) up to that point, plunging 998.5 points (about 9%), most within minutes, only to recover a large part of the loss. It was also the second-largest intraday point swing (difference between intraday high and intraday low) up to that point, at 1,010.14 points. The prices of stocks, stock index futures, options and ETFs were volatile, thus trading volume spiked. A CFTC 2014 report described it as one of the most turbulent periods in the history of financial markets.On April 21, 2015, nearly five years after the incident, the U.S. Department of Justice laid ""22 criminal counts, including fraud and market manipulation"" against Navinder Singh Sarao, a trader. Among the charges included was the use of spoofing algorithms; just prior to the Flash Crash, he placed thousands of E-mini S&P 500 stock index futures contracts which he planned on canceling later. These orders amounting to about ""$200 million worth of bets that the market would fall"" were ""replaced or modified 19,000 times"" before they were canceled. Spoofing, layering and front-running are now banned.The Commodity Futures Trading Commission (CFTC) investigation concluded that Sarao ""was at least significantly responsible for the order imbalances"" in the derivatives market which affected stock markets and exacerbated the flash crash. Sarao began his alleged market manipulation in 2009 with commercially available trading software whose code he modified ""so he could rapidly place and cancel orders automatically."" Traders Magazine journalist, John Bates, argued that blaming a 36-year-old small-time trader who worked from his parents' modest stucco house in suburban west London for sparking a trillion-dollar stock market crash is a little bit like blaming lightning for starting a fire"" and that the investigation was lengthened because regulators used ""bicycles to try and catch Ferraris."" Furthermore, he concluded that by April 2015, traders can still manipulate and impact markets in spite of regulators and banks' new, improved monitoring of automated trade systems.As recently as May 2014, a CFTC report concluded that high-frequency traders ""did not cause the Flash Crash, but contributed to it by demanding immediacy ahead of other market participants.""Recent research shows that Flash Crashes are not isolated occurrences, but have occurred quite often over the past century. For instance, Irene Aldridge, the author of High-Frequency Trading: A Practical Guide to Algorithmic Strategies and Trading Systems, 2nd ed., Wiley & Sons, shows that Flash Crashes have been frequent and their causes predictable in market microstructure analysis.