Empirical Analysis of Stock Returns and Volatility of the
... investors experience. Volatility is a measure of dispersion around the mean or average return of a security. One way to measure volatility is by using the standard deviation, which tells you how tightly the price of a stock is grouped around the mean or moving average (MA). When the prices are tight ...
... investors experience. Volatility is a measure of dispersion around the mean or average return of a security. One way to measure volatility is by using the standard deviation, which tells you how tightly the price of a stock is grouped around the mean or moving average (MA). When the prices are tight ...
To hedge or not to hedge? Evaluating currency
... When investors buy foreign assets, they obtain exposure not only to the underlying securities but also to foreign currency, meaning that movements in exchange rates play a significant role in determining the performance of a foreign investment. Increasingly, investors are wondering whether to hedge ...
... When investors buy foreign assets, they obtain exposure not only to the underlying securities but also to foreign currency, meaning that movements in exchange rates play a significant role in determining the performance of a foreign investment. Increasingly, investors are wondering whether to hedge ...
clsa christopher wood
... The relative lack of foreign selling of Indian equities is explained by the fact, as previously discussed here (see GREED & fear – Tapered off?, 6 June 2013), that foreign investors are crowded into ‘quality’, albeit expensive, stocks that have outperformed. Still the devastation in the currency mea ...
... The relative lack of foreign selling of Indian equities is explained by the fact, as previously discussed here (see GREED & fear – Tapered off?, 6 June 2013), that foreign investors are crowded into ‘quality’, albeit expensive, stocks that have outperformed. Still the devastation in the currency mea ...
Why are Banks Highly Interconnected?
... survival of all the banks in the system. Bank 2 in turn would optimally make a reduced payment of 0.05 to bank 3, and both banks would remain solvent and the payoffs of both banks would be 0. Offering them even slightly more would make them better off than being liquidated. There are two reasons why ...
... survival of all the banks in the system. Bank 2 in turn would optimally make a reduced payment of 0.05 to bank 3, and both banks would remain solvent and the payoffs of both banks would be 0. Offering them even slightly more would make them better off than being liquidated. There are two reasons why ...
Indeterminacy in Sovereign Debt Markets: an Empirical Investigation ∗ Luigi Bocola
... spreads in the euro area periphery declined to almost their pre-crisis level. These declines have been attributed to the establishment of the Outright Monetary Transaction (OMT) program, a framework that gives the ECB powers to purchase sovereign bonds in order to prop up their prices. One reading o ...
... spreads in the euro area periphery declined to almost their pre-crisis level. These declines have been attributed to the establishment of the Outright Monetary Transaction (OMT) program, a framework that gives the ECB powers to purchase sovereign bonds in order to prop up their prices. One reading o ...
How to Read a Value Line Fund Advisor Report
... fund’s investment style: price/earnings, price/book, trailing five-year earnings growth, and market capitalization. These are described in detail below. The figures are derived by computing the dollar-weighted average of the fund’s underlying equity holdings. A weighted average provides the best ind ...
... fund’s investment style: price/earnings, price/book, trailing five-year earnings growth, and market capitalization. These are described in detail below. The figures are derived by computing the dollar-weighted average of the fund’s underlying equity holdings. A weighted average provides the best ind ...
Quarterly Report III 2016
... important role. This year, our business is being dominated by the fourth quarter to an unusually strong degree. This, of course, is exerting pressure on our entire organisation. At the same time, however, it places us in a good position to achieve our full-year business target for 2016. All in all, ...
... important role. This year, our business is being dominated by the fourth quarter to an unusually strong degree. This, of course, is exerting pressure on our entire organisation. At the same time, however, it places us in a good position to achieve our full-year business target for 2016. All in all, ...
FREE Sample Here
... b. While firms are allowed to issue different classes of common stock, the Securities and Exchange Commission (SEC) requires that each class have the same dividend privileges. c. The New York Stock Exchange (NYSE) allows firms with dual class stock to be listed on the exchange. d. In order to increa ...
... b. While firms are allowed to issue different classes of common stock, the Securities and Exchange Commission (SEC) requires that each class have the same dividend privileges. c. The New York Stock Exchange (NYSE) allows firms with dual class stock to be listed on the exchange. d. In order to increa ...
Short-term Expectations in Listed Firms: The Effects of Different
... limiting their role as large investors in individual firms (for an analysis of the barriers to shareholder activism faced by many institutional investors, see e.g. David and Kochhar, 1996; Edwards and Hubbard, 2000; David, Hitt, and Gimeno, 2001; Gillian and Starks, 2003). On the other hand, the gro ...
... limiting their role as large investors in individual firms (for an analysis of the barriers to shareholder activism faced by many institutional investors, see e.g. David and Kochhar, 1996; Edwards and Hubbard, 2000; David, Hitt, and Gimeno, 2001; Gillian and Starks, 2003). On the other hand, the gro ...
Asset encumbrance, financial reform and the demand for collateral
... Endogenous private sector responses, such as collateral transformation activities, will help to address these supply-demand imbalances if and when they emerge. While this will mitigate collateral scarcity, these activities are likely to come at the cost of increased interconnectedness, procyclicalit ...
... Endogenous private sector responses, such as collateral transformation activities, will help to address these supply-demand imbalances if and when they emerge. While this will mitigate collateral scarcity, these activities are likely to come at the cost of increased interconnectedness, procyclicalit ...
Benchmarks as Limits to Arbitrage: Understanding the Low
... two ingredients. The first is that some market participants are irrational in some particular way. In the context of the low-risk anomaly, we believe that a preference for lotteries and the well-established biases of representativeness and overconfidence lead to a demand for higher-volatility stocks ...
... two ingredients. The first is that some market participants are irrational in some particular way. In the context of the low-risk anomaly, we believe that a preference for lotteries and the well-established biases of representativeness and overconfidence lead to a demand for higher-volatility stocks ...
developing expected return and risk assumptions
... respective peaks and troughs every 20 years or so. In addition, the linear trend line is nearly flat, but moving downward at a very modest slope likely attributable to decreasing volatility of economic growth during the course of the 20th century. After a strong year for U.S. equities in 2016, we mo ...
... respective peaks and troughs every 20 years or so. In addition, the linear trend line is nearly flat, but moving downward at a very modest slope likely attributable to decreasing volatility of economic growth during the course of the 20th century. After a strong year for U.S. equities in 2016, we mo ...
Words - corporate
... more than 50% owned and over which the Company exercises control. Investments in affiliates of greater than 20% and for which the Company exercises significant influence but does not exercise control are accounted for using the equity method. All other investments in non-consolidated affiliates are ...
... more than 50% owned and over which the Company exercises control. Investments in affiliates of greater than 20% and for which the Company exercises significant influence but does not exercise control are accounted for using the equity method. All other investments in non-consolidated affiliates are ...
AS FILED WITH THE SECURITIES AND EXCHANGE COMMISSION
... attractively-priced and under-exploited properties. During the last three years, the Company completed 21 acquisitions totaling $41.5 million at an average acquisition cost of $3.89 per BOE. ...
... attractively-priced and under-exploited properties. During the last three years, the Company completed 21 acquisitions totaling $41.5 million at an average acquisition cost of $3.89 per BOE. ...
Bubbles, Banks and Financial Stability
... in a general equilibrium model with credit constraints. The current financial crisis is the most immediate motivation for studying this interaction. Losses from subprime mortgage defaults depleted bank capital positions and led to a severe credit crunch and the deepest recession since the 1930s. Thi ...
... in a general equilibrium model with credit constraints. The current financial crisis is the most immediate motivation for studying this interaction. Losses from subprime mortgage defaults depleted bank capital positions and led to a severe credit crunch and the deepest recession since the 1930s. Thi ...
Pairs Trading in the UK Equity Market Risk and Return
... differences in short term market returns (Mitchell and Pulvino (2001)). We show that the beta of the pairs trading portfolios vary when conditioned on contemporaneous equity market returns. The risk adjusted returns of the portfolios, controlling for time varying betas and transaction costs, are not ...
... differences in short term market returns (Mitchell and Pulvino (2001)). We show that the beta of the pairs trading portfolios vary when conditioned on contemporaneous equity market returns. The risk adjusted returns of the portfolios, controlling for time varying betas and transaction costs, are not ...
Measuring the Risk of Large Losses
... The distribution of profit and loss is very complex. It contains an infinite amount of information by specifying the probability of a profit or loss of any given size. A meaningful comparison of distributions requires therefore to focus on specific properties of distributions, e.g. their risk. While ...
... The distribution of profit and loss is very complex. It contains an infinite amount of information by specifying the probability of a profit or loss of any given size. A meaningful comparison of distributions requires therefore to focus on specific properties of distributions, e.g. their risk. While ...
STANDALONE FUN VALUATION
... detailed understanding of three potential scenarios for GSN and FUN, including: An updated view of GSN’s financial forecast in a “Base Case”, assuming no formal partnership or merger with FUN Technologies ...
... detailed understanding of three potential scenarios for GSN and FUN, including: An updated view of GSN’s financial forecast in a “Base Case”, assuming no formal partnership or merger with FUN Technologies ...
Corporate Governance Screening Tool for Banking
... 1. Initiation of the Screening Process Once a request for a loan exceeding a certain amount1 is requested by a client company, the bank personnel who deal with this client should initiate the screening. There are a number of alternatives that the bank could consider to perform the screening. The fir ...
... 1. Initiation of the Screening Process Once a request for a loan exceeding a certain amount1 is requested by a client company, the bank personnel who deal with this client should initiate the screening. There are a number of alternatives that the bank could consider to perform the screening. The fir ...
Financialization
Financialization is a term sometimes used in discussions of the financial capitalism that has developed over the decades between 1980 and 2010, in which financial leverage tended to override capital (equity), and financial markets tended to dominate over the traditional industrial economy and agricultural economics.Financialization describes an economic system or process that attempts to reduce all value that is exchanged (whether tangible or intangible, future or present promises, etc.) into a financial instrument. The intent of financialization is to be able to reduce any work product or service to an exchangeable financial instrument, like currency, and thus make it easier for people to trade these financial instruments.Workers, through a financial instrument such as a mortgage, may trade their promise of future work or wages for a home. The financialization of risk sharing is what makes possible all insurance. The financialization of a government's promises (e.g., US government bonds) is what makes possible all government deficit spending. Financialization also makes economic rents possible.