The quarterly market review summarizes the performance of the US and global markets from April to June 2012. Major US indexes like the Dow, S&P 500, and Nasdaq saw losses for the quarter, though they remain up year-to-date. Fears about Europe led to higher demand for US Treasuries and lower yields. Commodity prices like oil and gold also declined for the quarter. The document outlines various economic news and indicators over the period, and notes some key upcoming economic reports and events in July.
The document provides a weekly market review covering the period of May 8, 2015. It summarizes that in the US, stocks ended higher for the week despite falling earlier, in response to a positive jobs report on Friday. International markets also closed slightly higher. Treasury bond yields increased to five-month highs. Commodity indices were mixed for the week.
This analysis focuses on measures much beyond PE ratios. And, it concludes that the Stock Market is actually really cheap vs. bonds. But, it appears quite overvalued when focusing on inflation measures.
JPM Prime Brokerage Global Hedge Fund Trends November 2013Brian Shapiro
Hedge funds posted broad gains in October and year-to-date, led by equity long/short and event-driven strategies. Leverage declined slightly while short positions increased 2%. Most regions saw increased equity prices and tightening credit spreads. Earnings exceeded estimates but revenue growth was flat, raising uncertainty around sustained earnings growth. Global earnings forecasts continue to decline.
JPM prime brokerage global hedge fund trends august 2013Brian Shapiro
After gains in most markets in July, hedge funds posted aggregate returns of +1.36% for the month. Equity long/short and event driven strategies performed best, while global macro strategies declined slightly. Gross leverage across all prime brokerage accounts increased from 1.81 to 1.84 as some managers added short exposures despite rising markets. Leverage was above average for some equity-biased strategies but below average for others like multi-strategy funds.
Metropolitan Washington Lenders Conference 111408caesar7
The document summarizes the current state and outlook of the US economy, housing market, and mortgage markets. It finds that (1) foreclosure rates are rising across the nation as unemployment rises, (2) house price depreciation is slowing but risks remain, and (3) excess housing supply is declining in most areas. Looking forward, it expects a recession in late 2008 and early 2009 before a modest economic rebound, with housing sales flattening in 2008 before a gradual recovery in 2009-2010 as unemployment decreases and prices stabilize. Credit markets will remain constrained until 2009 when additional Fed and Treasury actions stabilize financial markets.
- The stock market has risen 17% year-to-date but may be overextended in the short-term given lackluster business fundamentals and economic growth.
- After a potential short-term pullback, stocks could see 20-30% upside over the next year, supported by low interest rates and high liquidity.
- However, the author cautions that weak revenue growth, upcoming fiscal tightening, and downward revisions to earnings estimates could trigger a market correction from current levels.
The under-performing of value stocks and lowering of interest rates has compelled the investment managers to re-rate their strategies. Download the report by investment research experts at Aranca on value investing here!
The quarterly market review summarizes the performance of the US and global markets from April to June 2012. Major US indexes like the Dow, S&P 500, and Nasdaq saw losses for the quarter, though they remain up year-to-date. Fears about Europe led to higher demand for US Treasuries and lower yields. Commodity prices like oil and gold also declined for the quarter. The document outlines various economic news and indicators over the period, and notes some key upcoming economic reports and events in July.
The document provides a weekly market review covering the period of May 8, 2015. It summarizes that in the US, stocks ended higher for the week despite falling earlier, in response to a positive jobs report on Friday. International markets also closed slightly higher. Treasury bond yields increased to five-month highs. Commodity indices were mixed for the week.
This analysis focuses on measures much beyond PE ratios. And, it concludes that the Stock Market is actually really cheap vs. bonds. But, it appears quite overvalued when focusing on inflation measures.
JPM Prime Brokerage Global Hedge Fund Trends November 2013Brian Shapiro
Hedge funds posted broad gains in October and year-to-date, led by equity long/short and event-driven strategies. Leverage declined slightly while short positions increased 2%. Most regions saw increased equity prices and tightening credit spreads. Earnings exceeded estimates but revenue growth was flat, raising uncertainty around sustained earnings growth. Global earnings forecasts continue to decline.
JPM prime brokerage global hedge fund trends august 2013Brian Shapiro
After gains in most markets in July, hedge funds posted aggregate returns of +1.36% for the month. Equity long/short and event driven strategies performed best, while global macro strategies declined slightly. Gross leverage across all prime brokerage accounts increased from 1.81 to 1.84 as some managers added short exposures despite rising markets. Leverage was above average for some equity-biased strategies but below average for others like multi-strategy funds.
Metropolitan Washington Lenders Conference 111408caesar7
The document summarizes the current state and outlook of the US economy, housing market, and mortgage markets. It finds that (1) foreclosure rates are rising across the nation as unemployment rises, (2) house price depreciation is slowing but risks remain, and (3) excess housing supply is declining in most areas. Looking forward, it expects a recession in late 2008 and early 2009 before a modest economic rebound, with housing sales flattening in 2008 before a gradual recovery in 2009-2010 as unemployment decreases and prices stabilize. Credit markets will remain constrained until 2009 when additional Fed and Treasury actions stabilize financial markets.
- The stock market has risen 17% year-to-date but may be overextended in the short-term given lackluster business fundamentals and economic growth.
- After a potential short-term pullback, stocks could see 20-30% upside over the next year, supported by low interest rates and high liquidity.
- However, the author cautions that weak revenue growth, upcoming fiscal tightening, and downward revisions to earnings estimates could trigger a market correction from current levels.
The under-performing of value stocks and lowering of interest rates has compelled the investment managers to re-rate their strategies. Download the report by investment research experts at Aranca on value investing here!
What we would like to consider is the price of taming inflation and how that will affect peoples, work, investments, and lives in the coming years.
https://youtu.be/0RuIunNvvKI
Prudent approach to bond investing part 2Paul Escobar
The document summarizes the risks of bond investing in the current market environment. It notes that while bonds have historically provided stable returns, bond prices can decline when interest rates rise. A 3% increase in rates could result in a 12.7% total loss for bond funds. However, bonds continue to play an important role in diversifying equity risk in balanced portfolios. Their low correlations to stocks mean they do not react similarly to events that cause stock market declines. The document advocates maintaining balanced exposure to bonds for their diversification benefits and higher long-term yields, despite short-term volatility from rising rates.
This document discusses three leading economic indicators and their correlation to future stock market performance:
1) The 2-Year Swap Spread inverted and lagged by 9 months has been tightly correlated to S&P 500 yearly growth, suggesting the S&P 500 may see 20% growth over the next 9-12 months.
2) The ISM Manufacturing Survey leading equities earnings growth by 2 quarters points to 20-40% earnings growth over the next couple quarters, which could push the market PE ratio down to its long-term average.
3) Real Monetary Base growth lagged by 14 months has accurately predicted past stock market bottoms and performance; a pickup in growth from current sideways trend may
The Curious Case of Savings-Investment Gap and its Implications for IndiaAshutosh Bhargava
Their has been a remarkable shift in the savings-investment gap at the global level as well as in India. While this has had a tangible impact on global potential growth, the recovery is likely to differ from one country to another. In the Indian context, the recovery in trend growth is likely to be much higher than what is generally peceived and thus requires a more proactive response from policy makers, especially the monetary authorities.
Can Treasury Inflation Protected Securities predict Inflation?Gaetan Lion
We look at the spread between Treasuries and TIPS to figure out how effective such observations were in predicting actual inflation several years down the road.
The document provides an overview of various economic metrics and trends including:
1) Key stock market indexes and bond yields declined over the past quarter but have shown growth over the past year.
2) Worldwide and US M&A activity is up sharply year-to-date, though concerns exist that credit issues could slow future deals.
3) Private equity continues to outperform public markets and charge high fees, though most funds commit a modest percentage of assets.
3) US economic growth has declined steadily over the past decades and has not exceeded 4% since 2000, which may constrain stock market returns.
The presentation investigates whether the Federal Reserve can possibly manage asset bubbles (real estate, stocks) in addition to managing its primary goals (inflation, sustainable growth).
Federal Reserve Challenge Presentation 2008DavidHaberkorn
This document provides an overview of the state of the US economy in 2008 including GDP growth, the labor market, housing, investment, government spending, exports, inflation, financial markets, recent economic actions by the Federal Reserve, and a policy proposal to lower interest rates further. It covers key economic indicators such as unemployment, retail sales, consumer confidence, and interest rates. In summary, it analyzes the overall economic conditions in the United States during the Fed Challenge competition in 2008.
- Emerging markets have experienced weaker economic growth compared to developed markets in 2013.
- Emerging market equities have significantly underperformed developed market equities since 2010, with the underperformance accumulating prior to recent tapering talk.
- Within emerging markets, BRIC countries like Brazil, Russia, India, and China have particularly underperformed the broader emerging market universe.
The document provides a mid-year review of the performance of various sectors and indexes. It notes that the S&P 500 was down 11% in the first quarter of 2009 but up 3% in the second quarter. It reviews the year-to-date performance of technology, internet, networking, materials, and homebuilder sectors. It also discusses trends in the corporate bond market and vital economic signs from Texas and the energy industry. Upcoming economic reports are listed.
Here is how I would arrange those in order of importance:
1. Income in Retirement
2. Long Term Care
3. Death Benefit
My reasoning is:
Income in retirement is most important as it allows you to financially support yourself once you stop working. Having a reliable source of income to cover living expenses should take priority.
Long term care is the next most important since the costs of care can be substantial if needed for an extended period of time. Having a way to pay for care, whether at home or in a facility, is very valuable.
A death benefit is least important on the list. While providing funds to loved ones after passing is good to have, it is not as
Print: http://bit.ly/1UVS5jB
Near the end of each calendar year, mutual insurance companies declare their dividend interest rates (DIRs) on participating whole life (WL) insurance policies for the following year.
Our latest M Intelligence piece provides information on the elements that drive changes in DIRs—as supported by historical DIR results, insurance company asset allocations, and investment returns.
Broadridge-Restructuring-for-Profitability-2015Kevin Alexander
Analysts predict that global capital markets institutions will face both opportunities and challenges through 2020. Regulatory pressures are expected to intensify significantly over the next five years, especially in Europe and Asia. While profits are recovering, returns on equity will remain squeezed. To address profit pressures, analysts favor aggressive restructuring and cost cutting, such as adopting new technology and process reengineering, over revenue growth. Regulatory changes like the proposed "Basel IV" rules and annual stress tests are seen as having major impacts on banks through 2020.
Indexed universal life (IUL) provides permanent life insurance protection with the potential for higher returns than traditional universal life due to its indexing of interest credits to external market indexes. IUL offers downside protection from market downturns while providing upside potential from market growth. Wealth Designs Advisors Group is available to consult on IUL case design and carrier selection to help clients meet their retirement, college funding, and other financial goals.
BlackRock Bob Doll Investment Commentary, Feb. 22, 2011Econ Matters
The investment commentary discusses the continued positive performance of risk assets and stocks last week. While the rally causes concerns about how long it can last, the author believes risk assets remain attractive due to improving economic indicators beating expectations. Unemployment levels will be important to making the recovery self-sustaining. Inflation concerns exist in emerging markets dealing with economic growth, whereas inflation in developed nations is less driven by commodity prices. Political events are also being monitored closely.
The document discusses recent market volatility and increased dispersion between sector and stock returns. It notes that the impact of the stimulus package may not be seen until after 2009. While overall market estimates are uncertain, sector allocation and stock selection have become more important. A chart shows dispersion between individual stock returns and the S&P 500 index is greater now than two years ago, suggesting choosing the right sectors and stocks is more impactful currently. The document recommends staying with trend trades, such as being long technology and short industrials, as these sectors are trending in opposite directions.
Professional financial planning involves developing and implementing a plan to meet a person's financial needs. The financial planning process includes gathering information, analyzing the current position, defining goals, developing strategies to meet goals, implementing plans, and regularly reviewing and updating plans. Financial planners help clients ensure economic security by addressing threats like premature death, illness, job loss, and inadequate retirement income through tools like insurance, employer benefits, and individual investments. Financial planners are compensated through fees or commissions depending on their model.
This document discusses rethinking client onboarding processes in response to increasing regulations. It identifies key regulatory impacts that are driving changes to client onboarding, including more robust client identification and data collection. It also analyzes current challenges faced by banks in onboarding clients, such as fragmented processes, lack of data standardization and system interoperability issues. Finally, it proposes several key success factors for transforming client onboarding, such as establishing a single point of contact, globalizing and standardizing processes, centralizing data, focusing on legal entity identifiers, and implementing ongoing monitoring.
We share here a peek into the enormity of work we contribute to the various parameters of design-which initiate humbled pride in us. We look forward to your generous feedback. 'Feedbacks' provide us with platforms to express interactive energies -yours & ours. We are an alive legacy of design & some of our immortal stories are told here.
IUFRO - Preliminary assessment of climate change impact on optimized strategi...Atrium Forest
O congresso mundial da IUFRO (International Union of Forest Research Organizations) que acontece esse ano em Salt Lake City, nos Estados Unidos em sua 24ª edição, contou com a apresentação do pesquisador da Universidade Técnica de Lisboa Dr. João Palma no dia 07 de Outubro (terça-feira), sobre os resultados realizado na International Paper do Brasil.
O projeto mostra os impactos no planejamento da empresa num cenário de mudanças climáticas, utilizando dados de pesquisa da empresa, modelos processuais de crescimento e modelagem de planejamento otimizado, foi possível construir um cenário futuro que aponta para 3 a 5% de diminuição da produtividade em um cenário de mudanças extremas nas condições climáticas no futuro.
What we would like to consider is the price of taming inflation and how that will affect peoples, work, investments, and lives in the coming years.
https://youtu.be/0RuIunNvvKI
Prudent approach to bond investing part 2Paul Escobar
The document summarizes the risks of bond investing in the current market environment. It notes that while bonds have historically provided stable returns, bond prices can decline when interest rates rise. A 3% increase in rates could result in a 12.7% total loss for bond funds. However, bonds continue to play an important role in diversifying equity risk in balanced portfolios. Their low correlations to stocks mean they do not react similarly to events that cause stock market declines. The document advocates maintaining balanced exposure to bonds for their diversification benefits and higher long-term yields, despite short-term volatility from rising rates.
This document discusses three leading economic indicators and their correlation to future stock market performance:
1) The 2-Year Swap Spread inverted and lagged by 9 months has been tightly correlated to S&P 500 yearly growth, suggesting the S&P 500 may see 20% growth over the next 9-12 months.
2) The ISM Manufacturing Survey leading equities earnings growth by 2 quarters points to 20-40% earnings growth over the next couple quarters, which could push the market PE ratio down to its long-term average.
3) Real Monetary Base growth lagged by 14 months has accurately predicted past stock market bottoms and performance; a pickup in growth from current sideways trend may
The Curious Case of Savings-Investment Gap and its Implications for IndiaAshutosh Bhargava
Their has been a remarkable shift in the savings-investment gap at the global level as well as in India. While this has had a tangible impact on global potential growth, the recovery is likely to differ from one country to another. In the Indian context, the recovery in trend growth is likely to be much higher than what is generally peceived and thus requires a more proactive response from policy makers, especially the monetary authorities.
Can Treasury Inflation Protected Securities predict Inflation?Gaetan Lion
We look at the spread between Treasuries and TIPS to figure out how effective such observations were in predicting actual inflation several years down the road.
The document provides an overview of various economic metrics and trends including:
1) Key stock market indexes and bond yields declined over the past quarter but have shown growth over the past year.
2) Worldwide and US M&A activity is up sharply year-to-date, though concerns exist that credit issues could slow future deals.
3) Private equity continues to outperform public markets and charge high fees, though most funds commit a modest percentage of assets.
3) US economic growth has declined steadily over the past decades and has not exceeded 4% since 2000, which may constrain stock market returns.
The presentation investigates whether the Federal Reserve can possibly manage asset bubbles (real estate, stocks) in addition to managing its primary goals (inflation, sustainable growth).
Federal Reserve Challenge Presentation 2008DavidHaberkorn
This document provides an overview of the state of the US economy in 2008 including GDP growth, the labor market, housing, investment, government spending, exports, inflation, financial markets, recent economic actions by the Federal Reserve, and a policy proposal to lower interest rates further. It covers key economic indicators such as unemployment, retail sales, consumer confidence, and interest rates. In summary, it analyzes the overall economic conditions in the United States during the Fed Challenge competition in 2008.
- Emerging markets have experienced weaker economic growth compared to developed markets in 2013.
- Emerging market equities have significantly underperformed developed market equities since 2010, with the underperformance accumulating prior to recent tapering talk.
- Within emerging markets, BRIC countries like Brazil, Russia, India, and China have particularly underperformed the broader emerging market universe.
The document provides a mid-year review of the performance of various sectors and indexes. It notes that the S&P 500 was down 11% in the first quarter of 2009 but up 3% in the second quarter. It reviews the year-to-date performance of technology, internet, networking, materials, and homebuilder sectors. It also discusses trends in the corporate bond market and vital economic signs from Texas and the energy industry. Upcoming economic reports are listed.
Here is how I would arrange those in order of importance:
1. Income in Retirement
2. Long Term Care
3. Death Benefit
My reasoning is:
Income in retirement is most important as it allows you to financially support yourself once you stop working. Having a reliable source of income to cover living expenses should take priority.
Long term care is the next most important since the costs of care can be substantial if needed for an extended period of time. Having a way to pay for care, whether at home or in a facility, is very valuable.
A death benefit is least important on the list. While providing funds to loved ones after passing is good to have, it is not as
Print: http://bit.ly/1UVS5jB
Near the end of each calendar year, mutual insurance companies declare their dividend interest rates (DIRs) on participating whole life (WL) insurance policies for the following year.
Our latest M Intelligence piece provides information on the elements that drive changes in DIRs—as supported by historical DIR results, insurance company asset allocations, and investment returns.
Broadridge-Restructuring-for-Profitability-2015Kevin Alexander
Analysts predict that global capital markets institutions will face both opportunities and challenges through 2020. Regulatory pressures are expected to intensify significantly over the next five years, especially in Europe and Asia. While profits are recovering, returns on equity will remain squeezed. To address profit pressures, analysts favor aggressive restructuring and cost cutting, such as adopting new technology and process reengineering, over revenue growth. Regulatory changes like the proposed "Basel IV" rules and annual stress tests are seen as having major impacts on banks through 2020.
Indexed universal life (IUL) provides permanent life insurance protection with the potential for higher returns than traditional universal life due to its indexing of interest credits to external market indexes. IUL offers downside protection from market downturns while providing upside potential from market growth. Wealth Designs Advisors Group is available to consult on IUL case design and carrier selection to help clients meet their retirement, college funding, and other financial goals.
BlackRock Bob Doll Investment Commentary, Feb. 22, 2011Econ Matters
The investment commentary discusses the continued positive performance of risk assets and stocks last week. While the rally causes concerns about how long it can last, the author believes risk assets remain attractive due to improving economic indicators beating expectations. Unemployment levels will be important to making the recovery self-sustaining. Inflation concerns exist in emerging markets dealing with economic growth, whereas inflation in developed nations is less driven by commodity prices. Political events are also being monitored closely.
The document discusses recent market volatility and increased dispersion between sector and stock returns. It notes that the impact of the stimulus package may not be seen until after 2009. While overall market estimates are uncertain, sector allocation and stock selection have become more important. A chart shows dispersion between individual stock returns and the S&P 500 index is greater now than two years ago, suggesting choosing the right sectors and stocks is more impactful currently. The document recommends staying with trend trades, such as being long technology and short industrials, as these sectors are trending in opposite directions.
Professional financial planning involves developing and implementing a plan to meet a person's financial needs. The financial planning process includes gathering information, analyzing the current position, defining goals, developing strategies to meet goals, implementing plans, and regularly reviewing and updating plans. Financial planners help clients ensure economic security by addressing threats like premature death, illness, job loss, and inadequate retirement income through tools like insurance, employer benefits, and individual investments. Financial planners are compensated through fees or commissions depending on their model.
This document discusses rethinking client onboarding processes in response to increasing regulations. It identifies key regulatory impacts that are driving changes to client onboarding, including more robust client identification and data collection. It also analyzes current challenges faced by banks in onboarding clients, such as fragmented processes, lack of data standardization and system interoperability issues. Finally, it proposes several key success factors for transforming client onboarding, such as establishing a single point of contact, globalizing and standardizing processes, centralizing data, focusing on legal entity identifiers, and implementing ongoing monitoring.
We share here a peek into the enormity of work we contribute to the various parameters of design-which initiate humbled pride in us. We look forward to your generous feedback. 'Feedbacks' provide us with platforms to express interactive energies -yours & ours. We are an alive legacy of design & some of our immortal stories are told here.
IUFRO - Preliminary assessment of climate change impact on optimized strategi...Atrium Forest
O congresso mundial da IUFRO (International Union of Forest Research Organizations) que acontece esse ano em Salt Lake City, nos Estados Unidos em sua 24ª edição, contou com a apresentação do pesquisador da Universidade Técnica de Lisboa Dr. João Palma no dia 07 de Outubro (terça-feira), sobre os resultados realizado na International Paper do Brasil.
O projeto mostra os impactos no planejamento da empresa num cenário de mudanças climáticas, utilizando dados de pesquisa da empresa, modelos processuais de crescimento e modelagem de planejamento otimizado, foi possível construir um cenário futuro que aponta para 3 a 5% de diminuição da produtividade em um cenário de mudanças extremas nas condições climáticas no futuro.
This document discusses principles of design and provides tips for creating effective designs. It covers topics like layout, images, color, typography, and feedback. Key points include that attractive designs work better because they create emotional reactions and meet users' expectations. Design is presented as similar to coding, involving patterns, practices, and feedback cycles. Junior and senior designers are compared, with senior designers able to emphasize appropriately and drive user attention. Specific design tips are provided around whitespace, emphasis, the golden ratio, rounded vs square elements, consistency, and optimizing images. Color theory basics and creating engaging typography are also outlined. The importance of usability testing and not just asking for likes is emphasized.
This document discusses open sourcing sex toys. It outlines the benefits of open sourcing such as improved safety through publishing materials used, increased accessibility through hackability and customization, faster innovation, and connecting communities. However, it also notes challenges like legal restrictions on sexuality in some regions, material constraints, how sexual interests intersect with tinkering, and addressing assumptions of typical open source audiences. It proposes addressing these issues by sharing design files and documentation for sex toys to allow open collaboration while respecting relevant laws and communities.
ITLC Ha Noi : Openstack From Atlanta to Ha Noi - Storage Lê Văn Duy
This document discusses storage visibility and optimizing hardware for OpenStack storage. It notes that when using OpenStack, storage from different vendors like Ceph, GlusterFS, and others can be used, but visibility is needed for management. When choosing hardware, factors to consider include price, reliability with replicas across locations, performance around scaling, and starting small but designing for growth. Benchmarking and monitoring are also important for performance. The document provides references to other talks on optimizing hardware for SwiftStack, storage visibility with Cisco, Red Hat Storage performance, and using Ceph in private clouds.
This document announces an open house occurring on Saturday, October 4, 2014 at 9426 Spring Creek Ct. The home located at this address is advertising itself as being gluten-free. In 3 sentences or less, this document provides notice of a real estate open house for a gluten-free home located at 9426 Spring Creek Ct. on October 4, 2014.
1) The document discusses the history and development of sukuk (Islamic financial certificates) from their origins in 7th century Damascus to their recent growth into a multi-billion dollar market.
2) It compares key differences between sukuk and conventional bonds as well as stocks, explaining that sukuk represent ownership of tangible assets rather than debt.
3) The document proposes ways that Malta could establish itself as a leader in the global sukuk market, such as by creating an Islamic finance bankruptcy court and regulatory framework to facilitate sukuk issuances and disputes.
Glue is useful for fixing things because it is liquid, sticky and transparent allowing it to stick pieces together without noticing the damage. Glue can be used to fix things by sticking pieces together without showing that it was broken. Glue has various applications including communication, logo structure, lettering, and more.
The document is the September/October 2014 issue of Landscape Hawaii, a publication of the Landscape Industry Council of Hawaii. The main stories include an upcoming green industry conference on October 9th featuring breakout sessions on resort landscapes, pest control, arboriculture and irrigation; a local arborist placing second in the world tree climbing championships; and planning for more sustainable resort landscapes. The issue also provides various industry news briefs, event listings and advertisements.
GE Design Conference
San Francisco, CA
May 12, 2014
I gave this talk at GE's first annual Design Conference, which discusses the rapid pace of change in development practices over the last ten years, and its implications for how we practice design.
eCommerce Expo: Designing Customer Experiences that create Advocacy and Reten...Branded3
The document discusses designing customer experiences to create customer advocacy and retention. It notes that traditional display advertising has very low click-through rates. The document advocates focusing on creating relevant customer experiences tailored to individual moments by understanding customer motivations and concerns through engagement. This facilitates personalizing content to create unique experiences for each customer, leading to lower bounce rates and higher conversion rates.
Visual Storytelling through Memorable Album CoversDavid Deal
"Visual Storytelling through Memorable Album Covers" shares best practices for creating striking cover designs that visualize music, express an artist's personality, and grab your attention. In the digital era, album design is alive and well. Album cover art forms the basis of artists' identities, permeating all the ways artists express their brands, ranging from tour merchandise to their social spaces. "Visual Storytelling through Memorable Album Covers" provides examples from classic rock musicians such as the Beatles, Led Zeppelin, Pink Floyd, and contemporary bands such as Goldfrapp and the National.
Public Sector stream - Rachael Tiffin slidesCallcredit123
The document discusses the changing landscape of public sector counter fraud in the UK. It introduces the CIPFA Counter Fraud Centre, which aims to be the national centre for counter fraud professionals. The Centre will provide services like policy guidance, training, and tools to help organizations fight fraud and corruption. It also discusses the new CIPFA Code of Practice for counter fraud, which will replace previous standards and apply consistently across the public sector.
Estonia - startup country FEIF14 / june 2014 TallinnIvar Siimar
„If you want to transform a society, you have to start with the young people, and give them the kind of education that will allow them to handle the
future." T.H.Ilves.
This is about growing startup ecosystem and the role of Business Angles there.
In EstBAN we don’t care which phone you use. It’s the optimism. The belief in knowledge and experience
in building successful companies. The wish and ability to invest in start-up entrepreneurship –
that’s what matters. And we’re not afraid to get our hands dirty.
So how do you value the share price of stock for a given company? In other words, what is the intrinsic value of a given stock? Generally speaking, a stock is valued based on the company’s current financial state and what the market believes the company’s future financial state will look like. https://carnick.com/
Following an impressive bounce back from February lows, the durability of the current bull market remains suspect. The benefits of the recent rally appear limited to the large cap, defensive sectors of the market. In prior market cycles, this has portended that the latter stages of a bull market are fast approaching and as such, caution is warranted.
This document provides an overview of the current volatile market environment and outlines 10 rules of thumb for navigating periods of increased volatility. It discusses recent declines in major indexes and rise in market volatility. While the authors' base case sees continued slow economic and earnings growth, they note several signs of uncertainty globally. The 10 rules of thumb focus on identifying companies with organic growth opportunities, flexible finances, strong cash flow, and earnings quality to invest successfully through the market cycle.
This document discusses dividend investing strategies. It makes the following key points:
1) Dividend investing tends to outperform during periods of market volatility and below average returns, as dividend income provides downside protection.
2) Dividends have accounted for about one-third of the total return of the S&P 500 since the 1970s, so excluding dividend stocks puts investors at a disadvantage.
3) The best dividend strategies focus on high quality stocks with growing dividends, cash flows, and earnings, not just high yields, to identify opportunities with sustainable payouts.
While the Dow and other indices are frequently interpreted as indicators of broader stock market performance, the stocks composing these indices may not be representative of an investor’s total portfolio.
Pursuing a Better Investment Experience with Capital AssociatesRobUgiansky
This document outlines 10 key principles for improving the odds of investment success:
1) Embrace market pricing and the information incorporated into prices.
2) Don't try to outguess the market through stock picking or market timing as most funds do not outperform their benchmarks.
3) Resist chasing past performance as it does not predict future returns.
4) Let markets work for you through long-term investing as this has rewarded investors over time.
This document discusses retirement planning and decumulation strategies. It provides historical context on retirement in Greek culture and the transition to individual saving. It also discusses the challenges facing retirees in the US, including managing withdrawals, market risks, and longevity risks. The document advocates for combining safety and growth in retirement portfolios, and outlines strategies like target date funds, income replacement, and combining various account types to help solve decumulation challenges.
Owens Corning presented information on its Q2 2017 performance focused on shareholder value. It operates three strong businesses: Insulation, Roofing, and Composites. The presentation discussed OC's investment thesis of having market leading businesses, improved portfolio performance and earnings, and attractive macroeconomic drivers. It also provided an overview of each business segment and their financial profiles.
The document provides 5 investing principles based on a presentation about lessons learned. Principle 1 discusses that every investment has risks, even cash, as investors flocked to cash during volatile periods but it provided little return over the long run after accounting for inflation. Principle 2 notes that while most asset classes declined in 2008, a diversified portfolio still worked over the full market cycle from 2000-2009. Principle 3 explains that not all bonds or bond funds perform the same way. Principle 4 asserts that stocks have generally outperformed over the long run. Principle 5 advocates for including international stocks rather than avoiding foreign markets.
This document discusses volatility and provides strategies for managing risk. It begins by stating that moderate volatility is healthy for financial markets as it separates strong from weak investments. The document then discusses three components needed for a well-functioning financial system: cognitive diversity among investors, full disclosure of information, and rewards/penalties for correct/incorrect views. It suggests investors should focus on owning businesses rather than reacting to market fluctuations, and construct diversified portfolios that are not overly correlated with any single index. Strategies discussed for managing risk include owning a variety of assets, investing globally for currency exposure benefits, and focusing on long-term goals rather than short-term volatility.
Why Emerging Managers Now? - Infusion Global Partners WhitepaperAndrei Filippov
Traditional asset classes appear to offer uninspiring beta returns at present, and recent years’ hedge fund returns have disappointed both in magnitude and diversification benefits, likely reflecting capacity pressures associated with the concentration of AUM and inflows with larger funds. We argue that, by contrast, Emerging hedge funds offer a rich opportunity set with far fewer capacity issues where skilled managers with concrete competitive advantages in less efficient, smaller capitalization market segments can generate better, more sustainable and less correlated excess returns. Emerging managers do involve more investment and operational risk than larger peers; to that challenge we offer some suggestions on a thoughtful and rigorous approach to constructing an Emerging Managers allocation and balancing effective due diligence with scalability.
Actions You Can Take After Great Recessionbruce_gillen
This document provides lessons learned from the Great Recession and actions investors can take. It recommends diversifying investments across different asset classes, rebalancing portfolios as needed, using dollar cost averaging to invest consistently, and avoiding emotional reactions to market volatility. Developing a long-term financial plan that considers goals, risk tolerance and taxes can help investors feel more confident during periods of market turmoil. The key is disciplined investing with a strategy, rather than trying to time the market based on emotions.
Actions You Can Take After Great Recessionbruce_gillen
This document provides lessons learned from the Great Recession and actions investors can take. It recommends diversifying investments across different asset classes, rebalancing portfolios as needed, using dollar cost averaging to invest consistently, and avoiding emotional reactions to market volatility. Developing a long-term financial plan that considers goals, risk tolerance and taxes can help investors feel more confident during periods of market turmoil. The key is maintaining a disciplined, balanced approach rather than trying to time the market.
The fund manager provides a summary of the DSP Equity Opportunities Fund's investment strategy and current portfolio positioning. The fund focuses on companies with capable management, good growth trends, and balance sheets when available at a margin of safety. The current portfolio has overweight positions in financials, pharma, and cement companies. Specific overweight stocks include ICICI Bank, HDFC Bank, Axis Bank, SBI, Bank of Baroda, Dr. Reddy's, Alkem, Sun Pharma, Ultratech Cement, Dalmia Bharat, and ACC. The fund manager avoids expensive consumer stocks and index heavyweights where the risk-reward is not favorable.
Long-term Corporate Finance Project on GlaxoSmithKline Inc.nroopraj24
The document is a report analyzing the financial performance and capital structure of GlaxoSmithKline (GSK). It includes an executive summary, sections on financial analysis using key ratios, company information, market analysis, an in-depth analysis of GSK's share buyback program, and conclusions. The financial analysis shows GSK has strong liquidity, high profitability, and uses debt aggressively but is able to service it based on interest coverage ratios. The market analysis compares GSK's stock performance to benchmarks and finds it moves closely with the market.
1) Asset allocation involves dividing investments among different asset classes like stocks, bonds, and cash equivalents to gain exposure to rotating market leaders and help reduce volatility.
2) Maintaining a balanced mix of assets tailored to an individual's goals, time horizon, and risk tolerance can potentially increase returns compared to holding single assets.
3) Asset allocation strategies need periodic rebalancing to maintain the intended risk level as market conditions and individual circumstances change over time.
AdvHanlon_Active_vs_Passive_Oct2010 - Copy.pptxAl Bruce
- The document provides performance data for different portfolio strategies managed by Hanlon Investment Management from 2001-2010. It includes returns, benchmarks, and risk metrics for Growth, Growth & Income, Balanced, and Managed Income portfolios.
- The Growth portfolio focuses on equities and can range from 0-100% stocks, while Growth & Income and Balanced also include bonds in a more balanced approach. Managed Income focuses on bonds and cash.
- All strategies outperformed their benchmarks over the long-term, with Managed Income returning over 10% annually since inception compared to 6.14% for its blended benchmark.
Share repurchases are expected to reach record highs in 2018 as companies utilize cash brought back onshore under the new U.S. tax policy. While buybacks are generally seen as positive by reducing shares outstanding and increasing per-share metrics like EPS, they do not always result in higher stock prices. Strong fundamentals and cash flows must still support the company for buybacks to benefit shareholders. Currently, accelerated share repurchase programs are seen across many industries, but remain concentrated among large multi-national firms.
Seminar 8 creating an investment recommendationpvalantagul
The document provides guidance on creating an investment recommendation and pitching a stock. It outlines the key components of a stock pitch, including analyzing if a company is a good business and if it will be a good stock. An example stock pitch for Waste Management is then presented, analyzing the company, industry, financials, valuation, opportunities/risks, and recommending the stock as a buy. The document emphasizes synthesizing information from prior seminars to develop an investment thesis and recommendation.
1) Companies have accumulated record amounts of cash since the 2008 financial crisis as they focused on reducing debt and rebuilding their balance sheets.
2) Recently, companies have begun shifting their use of cash from shareholder-friendly activities like buybacks and dividends toward business investment to support future growth.
3) Increased business investment will benefit the economy by boosting GDP and supporting the belief that a secular bull market has begun.
Monthly Market Perspective - June 2016David Berger
The drivers of short-term market moves can be vastly different from those which underpin the cycles of longer-term market direction. This month we examine a variety of these factors.
A review of Q4 2015 corporate earnings reveals a significant slowdown in revenue and earnings growth. While these developments have been affected by the sharp decline in commodity prices,they may reveal early signs of recessionary conditions.
As the debate about future economic growth continues, we provide selected excerpts from Q4 earnings transcripts. Quotes from CEO's of companies across multiple industries. Excluding energy and manufacturing, most CEO's indicated a positive growth outlook for their respective companies and industries.
Attached please find our monthly market perspectives piece for September. In light of the recent market volatility, we outline alternative investments, in particular market neutral investments. Currently, our preference is to use market neutral strategies for portfolio defense. In today’s market conditions, particularly in fixed income, traditional asset allocation strategies comprised solely of stocks and bonds may be challenged to provide an adequate balance of investment risk and return.
This month we attempt to look past the recent “headlines” affecting international markets and analyze the facts. As you will note, despite the volatility, we believe international investing still makes sense for long term investors.
The document discusses the ongoing economic crisis in Greece and its implications. It provides the following key points:
- Greece has undergone severe austerity measures in recent years which have led to high unemployment, declining GDP, and cuts to pensions and healthcare.
- The new Greek government was elected to negotiate less severe austerity, but European leaders refused to compromise, leaving Greece unable to pay IMF loans.
- A referendum voted against further austerity, increasing the likelihood Greece will exit the Eurozone and potentially revert to its former currency, the Drachma.
- Most Greek debt is held by European institutions so contagion risk to other Eurozone nations is seen as relatively low, though volatility may rise in the short term
S&P 500 earnings in the first quarter were significantly impacted by negative performance in the energy sector. In our Market Perspective we examine Q1 earnings excluding energy and observe reasonably healthy results.
This month we analyze first quarter earnings and dig into the impact of oil prices. As we have suggested, markets ultimately trade on earnings, and this quarter the picture has been clouded by the rapid decline in the energy sector.
Our May Market Perspective identifies and discusses the potential weaknesses in several traditional "safe" sectors within the equity markets-healthcare and utilities.
The document discusses the recent strengthening of the US dollar relative to other currencies. It explains that the US Federal Reserve's policy of low interest rates has contributed to dollar strength as this policy may change. Other central banks have pursued accommodative monetary policies, weakening their currencies like the Euro. An appreciating dollar can negatively impact returns on international stocks and dampen demand for US exports. Companies with foreign sales are affected as US goods become more expensive abroad.
Following several years of relatively benign capital market volatility, it appears wider swings may finally be upon us. January produced multiple moves up and down in excess of 3%. Market Perspectives explores the meaning behind the volatility and how we may seek to take advantage of it.
As we look ahead to 2015, we review some of the themes we highlighted in 2014. While some of our strategies played out well last year, some are still developing. We expect our valuation discipline will continue to serve as a valuable guide in the new year and beyond.
Recently commodity prices have fallen to multi-year lows. Read our December Market Perspective to learn how these dramatic price movements may impact consumers, industries and companies.
Biegel Waller Investment Advisory Market Perspective David Berger
While the U.S. asset purchase program came to an end last month, we expect easy money policies around the globe to continue well into the future. We anticipate global leaders will remain focused on fighting deflationary forces with sufficient liquidity, which should help global asset prices.
This document provides an update on corporate earnings growth in Q2 2014. Earnings grew 9.4% while sales increased 4.4%. Low interest rates have helped companies maximize profits through share repurchases and debt repayment. Going forward, sustainable sales growth will be important for further increases in stock prices as interest rates are expected to rise.
Domestic small cap equities are trading at significantly elevated valuation levels. This month we highlight some of the key data points relating to this overvaluation.
Our April "Slides of the Month" discuss the recent run up in prices of dividend paying stocks. We identify favorable values in cyclically oriented stocks which are better positioned to benefit from additional economic growth.
Confirmation of Payee (CoP) is a vital security measure adopted by financial institutions and payment service providers. Its core purpose is to confirm that the recipient’s name matches the information provided by the sender during a banking transaction, ensuring that funds are transferred to the correct payment account.
Confirmation of Payee was built to tackle the increasing numbers of APP Fraud and in the landscape of UK banking, the spectre of APP fraud looms large. In 2022, over £1.2 billion was stolen by fraudsters through authorised and unauthorised fraud, equivalent to more than £2,300 every minute. This statistic emphasises the urgent need for robust security measures like CoP. While over £1.2 billion was stolen through fraud in 2022, there was an eight per cent reduction compared to 2021 which highlights the positive outcomes obtained from the implementation of Confirmation of Payee. The number of fraud cases across the UK also decreased by four per cent to nearly three million cases during the same period; latest statistics from UK Finance.
In essence, Confirmation of Payee plays a pivotal role in digital banking, guaranteeing the flawless execution of banking transactions. It stands as a guardian against fraud and misallocation, demonstrating the commitment of financial institutions to safeguard their clients’ assets. The next time you engage in a banking transaction, remember the invaluable role of CoP in ensuring the security of your financial interests.
For more details, you can visit https://technoxander.com.
Fabular Frames and the Four Ratio ProblemMajid Iqbal
Digital, interactive art showing the struggle of a society in providing for its present population while also saving planetary resources for future generations. Spread across several frames, the art is actually the rendering of real and speculative data. The stereographic projections change shape in response to prompts and provocations. Visitors interact with the model through speculative statements about how to increase savings across communities, regions, ecosystems and environments. Their fabulations combined with random noise, i.e. factors beyond control, have a dramatic effect on the societal transition. Things get better. Things get worse. The aim is to give visitors a new grasp and feel of the ongoing struggles in democracies around the world.
Stunning art in the small multiples format brings out the spatiotemporal nature of societal transitions, against backdrop issues such as energy, housing, waste, farmland and forest. In each frame we see hopeful and frightful interplays between spending and saving. Problems emerge when one of the two parts of the existential anaglyph rapidly shrinks like Arctic ice, as factors cross thresholds. Ecological wealth and intergenerational equity areFour at stake. Not enough spending could mean economic stress, social unrest and political conflict. Not enough saving and there will be climate breakdown and ‘bankruptcy’. So where does speculative design start and the gambling and betting end? Behind each fabular frame is a four ratio problem. Each ratio reflects the level of sacrifice and self-restraint a society is willing to accept, against promises of prosperity and freedom. Some values seem to stabilise a frame while others cause collapse. Get the ratios right and we can have it all. Get them wrong and things get more desperate.
Budgeting as a Control Tool in Government Accounting in Nigeria
Being a Paper Presented at the Nigerian Maritime Administration and Safety Agency (NIMASA) Budget Office Staff at Sojourner Hotel, GRA, Ikeja Lagos on Saturday 8th June, 2024.
In World Expo 2010 Shanghai – the most visited Expo in the World History
https://www.britannica.com/event/Expo-Shanghai-2010
China’s official organizer of the Expo, CCPIT (China Council for the Promotion of International Trade https://en.ccpit.org/) has chosen Dr. Alyce Su as the Cover Person with Cover Story, in the Expo’s official magazine distributed throughout the Expo, showcasing China’s New Generation of Leaders to the World.
Explore the world of investments with an in-depth comparison of the stock market and real estate. Understand their fundamentals, risks, returns, and diversification strategies to make informed financial decisions that align with your goals.
South Dakota State University degree offer diploma Transcriptynfqplhm
办理美国SDSU毕业证书制作南达科他州立大学假文凭定制Q微168899991做SDSU留信网教留服认证海牙认证改SDSU成绩单GPA做SDSU假学位证假文凭高仿毕业证GRE代考如何申请南达科他州立大学South Dakota State University degree offer diploma Transcript
Dr. Alyce Su Cover Story - China's Investment Leadermsthrill
In World Expo 2010 Shanghai – the most visited Expo in the World History
https://www.britannica.com/event/Expo-Shanghai-2010
China’s official organizer of the Expo, CCPIT (China Council for the Promotion of International Trade https://en.ccpit.org/) has chosen Dr. Alyce Su as the Cover Person with Cover Story, in the Expo’s official magazine distributed throughout the Expo, showcasing China’s New Generation of Leaders to the World.
A toxic combination of 15 years of low growth, and four decades of high inequality, has left Britain poorer and falling behind its peers. Productivity growth is weak and public investment is low, while wages today are no higher than they were before the financial crisis. Britain needs a new economic strategy to lift itself out of stagnation.
Scotland is in many ways a microcosm of this challenge. It has become a hub for creative industries, is home to several world-class universities and a thriving community of businesses – strengths that need to be harness and leveraged. But it also has high levels of deprivation, with homelessness reaching a record high and nearly half a million people living in very deep poverty last year. Scotland won’t be truly thriving unless it finds ways to ensure that all its inhabitants benefit from growth and investment. This is the central challenge facing policy makers both in Holyrood and Westminster.
What should a new national economic strategy for Scotland include? What would the pursuit of stronger economic growth mean for local, national and UK-wide policy makers? How will economic change affect the jobs we do, the places we live and the businesses we work for? And what are the prospects for cities like Glasgow, and nations like Scotland, in rising to these challenges?
KYC Compliance: A Cornerstone of Global Crypto Regulatory FrameworksAny kyc Account
This presentation explores the pivotal role of KYC compliance in shaping and enforcing global regulations within the dynamic landscape of cryptocurrencies. Dive into the intricate connection between KYC practices and the evolving legal frameworks governing the crypto industry.
Every business, big or small, deals with outgoing payments. Whether it’s to suppliers for inventory, to employees for salaries, or to vendors for services rendered, keeping track of these expenses is crucial. This is where payment vouchers come in – the unsung heroes of the accounting world.
What Lessons Can New Investors Learn from Newman Leech’s Success?Newman Leech
Newman Leech's success in the real estate industry is based on key lessons and principles, offering practical advice for new investors and serving as a blueprint for building a successful career.
What Lessons Can New Investors Learn from Newman Leech’s Success?
Market perspective October 2014
1. Market Perspectives – October 2014
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Overview: Looking at the S&P 500 (+6.9% total return through 10/1), one might surmise the U.S. equity markets are off to a strong start. However, this headline performance overstates the true strength of the domestic stock market. The driving theme that emerges when taking a deeper dive is U.S. large capitalization stocks are significantly outperforming smaller capitalization stocks. This is evident among companies within the S&P 500 and is even worse when looking at small- cap only indexes such as the Russell 2000. For example, over the same time period, the total return of the Russell 2000 is negative 5.8%. This month we look below the surface of equity performance within the U.S.
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2. There are several different ways an index can be constructed. Today we will discuss two of the primary ones:
•Price-Weighted Index: This type of index is comprised of an adjustment factor where each component makes up a percentage of the index based on the current stock price. For example, a stock with a price of $100 might make up 10 times the weight of a stock with a $10 stock price (subject to an adjustment factor). The Dow Jones Industrial Average and the Nikkei 225 are relevant examples.
•Cap-Weighted Index: This type of index weights the components based on the total market value of the outstanding shares of the company. A common version will utilize the “free-float” (~ freely tradable) shares in order to specifically take into account the tradeable market capitalization and the S&P 500 is such an index. This type of index is the most common (and in our view the most logical). We will spend the rest of this month’s analysis on this type of index.
Experience Insight Impact
An Index Refresher
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3. Experience Insight Impact
Larger Companies Have Driven Performance This Year
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Larger companies, such as Apple,
Microsoft, and Berkshire Hathaway,
have driven performance for cap-weighted
indices such as the S&P
500:
• As shown on the left, while the
total return for the S&P is 6.9%
through 10/1, the largest 20
companies are actually up 9.3%
on average.
• When taking into account
market cap among the largest
20, the differential is even
greater at 10.2%.
• At the other end of the
spectrum, the smallest 100
companies in the S&P 500 have
returned just 3.3%.
Company Market Value YTD TR Performance Weighting in Top 20 Weighted Performance
1 APPLE INC $ 593,876,649,060 25.8% 11.2% 2.9%
2 EXXON MOBIL CORP $ 396,019,301,720 -6.3% 7.5% -0.5%
3 GOOGLE INC-A $ 387,903,611,269 3.3% 7.3% 0.2%
4 MICROSOFT CORP $ 378,209,059,415 25.2% 7.1% 1.8%
5 BERKSHIRE HATH-B $ 336,506,874,426 15.2% 6.3% 1.0%
6 JOHNSON&JOHNSON $ 294,155,968,102 16.3% 5.5% 0.9%
7 WELLS FARGO & CO $ 267,598,065,229 15.3% 5.0% 0.8%
8 GENERAL ELECTRIC $ 252,453,018,451 -7.9% 4.8% -0.4%
9 WAL-MART STORES $ 245,297,706,230 -1.4% 4.6% -0.1%
10 PROCTER & GAMBLE $ 225,114,215,298 4.5% 4.2% 0.2%
11 CHEVRON CORP $ 223,409,329,211 -3.3% 4.2% -0.1%
12 JPMORGAN CHASE $ 224,811,759,991 4.9% 4.2% 0.2%
13 VERIZON COMMUNIC $ 204,898,824,334 3.9% 3.9% 0.2%
14 FACEBOOK INC-A $ 198,085,812,500 40.0% 3.7% 1.5%
15 IBM $ 186,719,324,962 1.5% 3.5% 0.1%
16 PFIZER INC $ 184,836,160,123 -2.3% 3.5% -0.1%
17 COCA-COLA CO/THE $ 187,454,385,093 5.8% 3.5% 0.2%
18 AT&T INC $ 181,302,560,000 3.4% 3.4% 0.1%
19 BANK OF AMERICA $ 176,876,808,915 8.5% 3.3% 0.3%
20 INTEL CORP $ 168,284,490,000 34.2% 3.2% 1.1%
TOTAL VALUE $ 5,313,813,924,329
Average $ 265,690,696,216 9.3% Weighted Average 10.2%
S&P TOTAL RETURN 6.9% as of 10/1 close
Bottom 100 Companies in the S&P 500 Performance 3.3%
Average Market Cap of the Bottom 100 Companies in the S&P 500 $ 6,495,781,346
4. •The Russell 2000 Index, which targets the smallest companies in the Russell 3000 (and generally have market caps under $2 billion), is down 5.8% year to date, including dividends.
•This broad cross section of the markets is reflective of a general undertone of underperformance from equities other than at the mega-cap level.
Experience Insight Impact
Smaller Capitalization Companies Have Performed Even Worse
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5. Market Perspectives – October 2014
Experience Insight Impact
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Conclusion: While year to date performance at the U.S. large cap index level may look reasonable, we conclude the true underlying conditions are being masked by the mega-caps (such as Apple, Microsoft, and Berkshire). We continue to believe that from a valuation perspective, small and mid-cap domestic equities look expensive relative to larger companies and we continue to heavily weight our portfolios toward large-cap securities.
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6. Opinions expressed in this commentary may change as conditions warrant and is for informational purposes only. Information contained herein is not intended to be personal investment advice for any specific person for any particular purpose. We utilize information sources that we believe to be reliable but cannot guarantee the accuracy of those sources. Past performance is no guarantee of future performance; investing involves risk and may result in loss of capital. Consider seeking advice from a professional before implementing any investing strategy.
Experience Insight Impact
Disclaimer
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