Efficient portfolio

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  • The CAPM rattled investment professionals in the 1960s and its commanding importance still reverberates today." --Dow Jones Asset Management. Nearly 30 years ago, PORTFOLIO THEORY AND CAPITAL MARKETS laid the groundwork for such investment standards as modern portfolio theory, derivatives pricing and investment, and equity index funds, among others.

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  • Tham khảo sách 'capital markets and portfolio theory 2000', tài chính - ngân hàng, tài chính doanh nghiệp phục vụ nhu cầu học tập, nghiên cứu và làm việc hiệu quả

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  • Chapter 5 - Portfolio risk and return (Part I). In this chapter, we will explore the process of examining the risk and return characteristics of individual assets, creating all possible portfolios, selecting the most efficient portfolios, and ultimately choosing the optimal portfolio tailored to the individual in question.

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  • Chapter 11 – Portfolio concepts. This chapter define mean–variance analysis and list its assumptions; explain the concept of an efficient portfolio; define the minimum-variance frontier, the global minimum-variance portfolio, and the efficient frontier;...

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  • In a world where ownership is divorced from control, characterised by economic and geo-political uncertainty, our companion text Portfolio Theory and Financial Analyses (PTFA henceforth) began with the following question. We then observed that if investors are rational and capital markets are efficient with a large number of constituents,economic variables (such as share prices and returns) should be random, which simplifies matters.

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  • Bài giảng Chapter 5: Risk and return - Portfolio theory and asset pricing models presents of portfolio theory, capital asset pricing model (CAPM) (efficient frontier, capital market line (CML), security market line (SML), beta calculation, beta calculation), arbitrage pricing theory, fama french 3 factor model.

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  • Chapter 3 - Market efficiency . The topics discussed in this chapter are: Definition of efficient markets; different forms of market efficiency; evidence regarding market efficiency; implications for fundamental analysis, technical analysis, and portfolio management; market pricing anomalies; behavioral finance.

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  • Market efficiency prevails when many investors are willing to depart from maximum diversification, or a passive strategy, by adding mispriced securities to their portfolios in the hope of realizing abnormal returns. The competition for such returns ensures that prices will be near their “fair” values. Most managers will not beat the passive strategy on a riskadjusted basis. However, in the competition for rewards to investing, exceptional managers might beat the average forecasts built into market prices....

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  • This book can be used to study for the CFA Level 1 exam, as well as any finance-related courses. It covers Corporate Finance, Portfolio Management, Stock Market Organization, Market Indices and Efficiency, Equity Analysis and Valuation, and Equity Investments. This information is also helpful in preparing for the FINRA Series 7 examination.

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  • When asked why they tackled Mount Everest, climbers typically reply “Because it was there”. Our motivation for writing Advanced Modelling in Finance is for exactly the opposite reason. There were then, and still are now, almost no books that give due prominence to and explanation of the use of VBA functions within Excel. There is an almost similar lack of books that capture the true vibrant spirit of numerical methods in finance.

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  • In spite of the limited evidence about the behaviour of mutual funds in emerging markets, mutual fund investment in these areas has grown markedly over the past decade at a quicker pace than even the developed markets have shown. The growth in mutual fund investment is influential because it shapes the future development in the securities market and has important policy implications. The high proportion of institutional investors creates more timely information and therefore makes the market more efficient.

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  • In recent years, the credit derivatives market has become extremely active. Especially credit default swaps (CDSs) and collateralized debt obligations (CDOs) have contributed to what has been an amazing development. The most important benefit of credit derivatives is their ability to transfer the credit risk of an arbitrary number of obligors in a simple, efficient, and standardized way, giv-ing rise to a liquid market for credit risk that can be easily accessed by many market participants.

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  • Under certain conditions, the Company may use options and futures on securities, indices and interest rates, as described in Section 3.2. "Sub-Fund Details" and Appendix 3 "Restrictions on the use of techniques and instruments" for the purpose of investment, hedging and efficient portfolio management. In addition, where appropriate, the Company may hedge market and currency risks using futures, options or forward foreign exchange contracts. Transactions in futures carry a high degree of risk.

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  • In recent years, the credit derivatives market has become extremely active. Especially credit default swaps (CDSs) and collateralized debt obligations (CDOs) have contributed to what has been an amazing development. The most important benefit of credit derivatives is their ability to transfer the credit risk of an arbitrary number of obligors in a simple, efficient, and standardized way, giving rise to a liquid market for credit risk that can be easily accessed by many market participants.

    pdf0p baobinh1311 25-09-2012 20 5   Download

  • Motivated by these issues, we study the comovements between the returns on country-industry portfolios and country-style portfolios for 23 countries, 26 industries, and nine styles during 1980–2005. During this period, markets are likely to have become more integrated at the world level through increased capital and trade integration. Also, a number of regional developments have likely integrated stockmarkets at a regional level.

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  • In addition to banks, other financial institutions issue significant amounts of preferred stocks. For example, in 2007 Freddie Mac and Fannie Mae raised $13 billion through two preferred stocks offerings. Similar to banks, Fannie Mae and Freddie Mac have capital requirements that make preferred stocks an attractive source of capital. The Federal Housing Finance Agency (FHFA), which regulates Fannie Mae and Freddie Mac, requires them to maintain a level of “core capital,” comprised of common stock, retained earnings, and perpetual, non-cumulative preferred stock.

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  • This book is an explanation and analysis of micro cap stocks. These very small companies have endured a checkered history. In general terms, micro caps are large in absolute numbers but historically have been a small and misunderstood sector of the investment landscape. In this world of efficient markets and index funds, this perception has started to change. Many micro cap com- panies are well-managed, high-quality businesses that present an excellent investment opportunity.

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  • ADC's Homeworx™ cable telephony system permits the delivery of broadband services to end customers over a hybrid fiber coax (HFC) cable plant. Only a limited amount of spectrum is available in which to deliver a full portfolio of services. The greater the number of services that can be delivered within that bandwidth, the greater the revenue that can be generated. Thus a service provider should seek to make optimal use of his revenue-generating commodity that is the most scarce, bandwidth.

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  • They expect to get business value in the way of a higher success rate on the projects they undertake and a more effective and efficient execution of projects. When it does not happen, which is often the case, they need to aggressively develop a strategy to get that return. A continuous quality improvement program centered on project management is their best strategy. Some turn to a portfolio management approach, while others establish a PMO to support projects. Even others invest heavily in a six-sigma program....

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