Not Just One Man - Barings I. How Leeson Broke Barings II. Lessons
... 'switching', required Leeson to buy the cheaper contract and to sell simultaneously the more expensive one, reversing the trade when the price difference had narrowed or disappeared. This kind of arbitrage activity has little market risk because positions are always matched. ...
... 'switching', required Leeson to buy the cheaper contract and to sell simultaneously the more expensive one, reversing the trade when the price difference had narrowed or disappeared. This kind of arbitrage activity has little market risk because positions are always matched. ...
FREE Sample Here - We can offer most test bank and
... Full file at http://textbooktestbank.eu/Foundations-of-Finance-8th-Edition-Test-Bank-Keown 37) Which of the following is an example of both a capital market and a primary market transaction? A) The U.S. Government sells 3-month Treasury Bills. B) Microsoft common stock owned by an individual invest ...
... Full file at http://textbooktestbank.eu/Foundations-of-Finance-8th-Edition-Test-Bank-Keown 37) Which of the following is an example of both a capital market and a primary market transaction? A) The U.S. Government sells 3-month Treasury Bills. B) Microsoft common stock owned by an individual invest ...
Can Risks Be Reduced in the Derivatives Market
... to not only the market players directly carrying out the operation of OTC derivatives, but also the policy makers, regulators, and investors. Based on such a critical mindset, the purpose of this Article is to deduce the issues useful, not only for U.S. market players, but also for global capital ma ...
... to not only the market players directly carrying out the operation of OTC derivatives, but also the policy makers, regulators, and investors. Based on such a critical mindset, the purpose of this Article is to deduce the issues useful, not only for U.S. market players, but also for global capital ma ...
Does Academic Research Destroy Stock Return Predictability?*
... proposed in Lee, Shleifer, and Thaler (1991) and Barberis and Shleifer (2003). Publication could then cause more arbitrageurs to trade on the predictor, which causes predictor portfolios to become more correlated with already-published predictor portfolios that are also pursued by arbitrageurs, and ...
... proposed in Lee, Shleifer, and Thaler (1991) and Barberis and Shleifer (2003). Publication could then cause more arbitrageurs to trade on the predictor, which causes predictor portfolios to become more correlated with already-published predictor portfolios that are also pursued by arbitrageurs, and ...
Stock Return Serial Dependence and Out-of
... There is extensive empirical evidence that stock returns are serially dependent, and that this dependence can be exploited to produce abnormal positive expected returns. For instance, Jegadeesh and Titman (1993) find momentum in asset returns. Specifically, they find that assets with high (low) retu ...
... There is extensive empirical evidence that stock returns are serially dependent, and that this dependence can be exploited to produce abnormal positive expected returns. For instance, Jegadeesh and Titman (1993) find momentum in asset returns. Specifically, they find that assets with high (low) retu ...
Supply, Demand and Market Equilibrium
... • Read the prospectus to make sure you understand how the contracts work • Using various news sources, try to determine what events will affect prices in the IEM for two-weeks • Using your understanding of supply and demand, predict how prices should change • Determine if your predictions were corre ...
... • Read the prospectus to make sure you understand how the contracts work • Using various news sources, try to determine what events will affect prices in the IEM for two-weeks • Using your understanding of supply and demand, predict how prices should change • Determine if your predictions were corre ...
Interest Rate Derivatives – Fixed Income Trading Strategies
... For the purpose of simplification, the discount factor for periods of less than one year will also be raised to a given power in the following.7 The previous equation can also be interpreted in the sense that the present value of the bond equals the sum of the individual present values, thus all cou ...
... For the purpose of simplification, the discount factor for periods of less than one year will also be raised to a given power in the following.7 The previous equation can also be interpreted in the sense that the present value of the bond equals the sum of the individual present values, thus all cou ...
SAST - VCP Value Portfolio Summary Prospectus
... respectively. For purposes of the Expense Limitation Agreement, “Total Annual Portfolio Operating Expenses” shall not include extraordinary expenses (i.e., expenses that are unusual in nature and/or infrequent in occurrence, such as litigation), or acquired fund fees and expenses, brokerage commissi ...
... respectively. For purposes of the Expense Limitation Agreement, “Total Annual Portfolio Operating Expenses” shall not include extraordinary expenses (i.e., expenses that are unusual in nature and/or infrequent in occurrence, such as litigation), or acquired fund fees and expenses, brokerage commissi ...
Predatory or Sunshine Trading? Evidence from Crude Oil ETF Rolls
... after the investor transactions are complete. In the case of brokers who are aware of a client’s pending orders, the practice is known as “front running.” More broadly, the practice has been dubbed “predatory trading” by Brunnermeier and Pedersen (2005). Their model shows that the practice can be di ...
... after the investor transactions are complete. In the case of brokers who are aware of a client’s pending orders, the practice is known as “front running.” More broadly, the practice has been dubbed “predatory trading” by Brunnermeier and Pedersen (2005). Their model shows that the practice can be di ...
Hedge Funds and the Technology Bubble
... returns in the technology segment of the NASDAQ. A portfolio that mimics their holdings exhibits abnormal returns in excess of a characteristics-matched benchmark of around 4.5 percent per quarter. What happened is that in 2000 hedge funds still held large investments in technology stocks, but these ...
... returns in the technology segment of the NASDAQ. A portfolio that mimics their holdings exhibits abnormal returns in excess of a characteristics-matched benchmark of around 4.5 percent per quarter. What happened is that in 2000 hedge funds still held large investments in technology stocks, but these ...
2013 CFA Level 1 - Book 5 - Apache
... The topical coverage corresponds with the following CFA Institute assigned reading: Introduction to the Measurement of Interest Rate Risk ...
... The topical coverage corresponds with the following CFA Institute assigned reading: Introduction to the Measurement of Interest Rate Risk ...
press release
... toezicht), Sweco has notified the Netherlands Authority for the Financial Markets (Stichting Autoriteit Financiële Markten) that it has acquired a substantial holding of 8.98% in the shares in Grontmij. Sweco might purchase additional ordinary shares in Grontmij. Sweco will announce such additional ...
... toezicht), Sweco has notified the Netherlands Authority for the Financial Markets (Stichting Autoriteit Financiële Markten) that it has acquired a substantial holding of 8.98% in the shares in Grontmij. Sweco might purchase additional ordinary shares in Grontmij. Sweco will announce such additional ...
Chapter 6 The Risk and Term Structure of Interest Rates
... (a) A risk premium is sometimes mistakenly called a “liquidity premium.” (b) The demand for a bond declines when it becomes less liquid, increasing the interest rate spread between it and relatively more liquid bonds. (c) The differences in bond interest rates reflect differences in both default ris ...
... (a) A risk premium is sometimes mistakenly called a “liquidity premium.” (b) The demand for a bond declines when it becomes less liquid, increasing the interest rate spread between it and relatively more liquid bonds. (c) The differences in bond interest rates reflect differences in both default ris ...
Systemic Risk and Hedge Funds
... Leverage has the effect of a magnifying glass, expanding small profit opportunities into larger ones, but also expanding small losses into larger losses. And when adverse changes in market prices reduces the market value of collateral, credit is withdrawn quickly and the subsequent forced liquidati ...
... Leverage has the effect of a magnifying glass, expanding small profit opportunities into larger ones, but also expanding small losses into larger losses. And when adverse changes in market prices reduces the market value of collateral, credit is withdrawn quickly and the subsequent forced liquidati ...
