This document provides summary statistics for various mutual funds and hedge funds from their start dates through June 2000 or December 2000. It includes the fund's start and end dates, sample size, mean return, standard deviation, and measures of serial correlation. Some key findings are that hedge funds exhibited higher returns, volatility, and serial correlation compared to mutual funds. Sources of serial correlation in alternative investments include illiquidity and return smoothing. Strong positive or negative autocorrelation could be exploited by investors but funds may be unable to due to illiquid assets, creating potential for fraud.
The NYSE World Leaders Index combines the NYSE U.S. 100 and NYSE International 100 Indexes to form a global index of 200 stocks. It includes 100 of the largest U.S. stocks and 100 of the largest foreign stocks listed on the New York Stock Exchange, representing over $11 trillion in total market capitalization. The index provides geographic and sector diversification through a single investment and benefits from the NYSE's high listing standards and transparent methodology.
Advise for the wise is monthly journal which gives you a highlight of the current market analysis in terms of gold, equity, debt and forex market. Get the overview of the entire financial market in dew slides.
The document discusses the impacts of the 2008 financial crisis on emerging markets and the future of banking. It summarizes the causes of the US housing bubble and financial crisis. It then examines new scenarios for banks, including increased competition from non-traditional players and changes to business models. The future of banking will focus on risk management, liquidity, growth from core businesses, and meeting new customer and stakeholder expectations around transparency and stability.
The document summarizes daily commodity outlooks for gold, silver, and crude on the MCX exchange for November 23, 2011. It provides opening and closing prices, highs and lows for the day, and technical analysis for each commodity. Gold closed higher at 28799 after bouncing from intraday lows. Silver gained significantly, closing at 57052. Crude oil also closed higher at 5142 after touching intraday lows. The technical indicators provided signal short term buying support for silver and crude, while gold's signals were mixed.
The document summarizes the daily commodity outlook for gold, silver, and crude on the MCX exchange for November 9th, 2011. It provides the opening, high, low, and closing prices. It notes that gold and silver ended the day with modest gains while crude saw moderate gains. Technical indicators like RSI and stochastic show buying support but are in overbought zones, suggesting potential for intermittent profit taking. Key resistance and support levels are given for each commodity.
The document summarizes the daily commodity outlook for gold, silver, and crude on the MCX exchange for November 17th, 2011. It provides the opening, high, low, and closing prices. It notes that gold and silver ended the day with modest and moderate losses respectively, while crude saw handsome gains. Technical indicators like RSI and stochastic suggest the possibility of further profit taking and selling pressure for gold and silver, while crude may see continued buying support. Key resistance and support levels are also provided.
The document provides a daily commodity outlook and analysis of gold, silver, and crude futures contracts. It summarizes that gold and silver opened lower but recovered to end the day with moderate gains, while crude opened lower and closed with modest losses. Technical indicators show buying support for gold and silver but they are in overbought zones, while crude has buyers in an advantage. The report identifies key resistance and support price levels for the futures contracts. Volume increased for gold and silver but decreased for crude compared to the previous day.
Real Estate Finance 201: The Realities (Stephen Blank) - ULI Fall Meeting 102611Virtual ULI
There is no consensus on the future of Fannie Mae and Freddie Mac. Policymakers face difficult choices in balancing support for the mortgage market with taxpayer risk.
The NYSE World Leaders Index combines the NYSE U.S. 100 and NYSE International 100 Indexes to form a global index of 200 stocks. It includes 100 of the largest U.S. stocks and 100 of the largest foreign stocks listed on the New York Stock Exchange, representing over $11 trillion in total market capitalization. The index provides geographic and sector diversification through a single investment and benefits from the NYSE's high listing standards and transparent methodology.
Advise for the wise is monthly journal which gives you a highlight of the current market analysis in terms of gold, equity, debt and forex market. Get the overview of the entire financial market in dew slides.
The document discusses the impacts of the 2008 financial crisis on emerging markets and the future of banking. It summarizes the causes of the US housing bubble and financial crisis. It then examines new scenarios for banks, including increased competition from non-traditional players and changes to business models. The future of banking will focus on risk management, liquidity, growth from core businesses, and meeting new customer and stakeholder expectations around transparency and stability.
The document summarizes daily commodity outlooks for gold, silver, and crude on the MCX exchange for November 23, 2011. It provides opening and closing prices, highs and lows for the day, and technical analysis for each commodity. Gold closed higher at 28799 after bouncing from intraday lows. Silver gained significantly, closing at 57052. Crude oil also closed higher at 5142 after touching intraday lows. The technical indicators provided signal short term buying support for silver and crude, while gold's signals were mixed.
The document summarizes the daily commodity outlook for gold, silver, and crude on the MCX exchange for November 9th, 2011. It provides the opening, high, low, and closing prices. It notes that gold and silver ended the day with modest gains while crude saw moderate gains. Technical indicators like RSI and stochastic show buying support but are in overbought zones, suggesting potential for intermittent profit taking. Key resistance and support levels are given for each commodity.
The document summarizes the daily commodity outlook for gold, silver, and crude on the MCX exchange for November 17th, 2011. It provides the opening, high, low, and closing prices. It notes that gold and silver ended the day with modest and moderate losses respectively, while crude saw handsome gains. Technical indicators like RSI and stochastic suggest the possibility of further profit taking and selling pressure for gold and silver, while crude may see continued buying support. Key resistance and support levels are also provided.
The document provides a daily commodity outlook and analysis of gold, silver, and crude futures contracts. It summarizes that gold and silver opened lower but recovered to end the day with moderate gains, while crude opened lower and closed with modest losses. Technical indicators show buying support for gold and silver but they are in overbought zones, while crude has buyers in an advantage. The report identifies key resistance and support price levels for the futures contracts. Volume increased for gold and silver but decreased for crude compared to the previous day.
Real Estate Finance 201: The Realities (Stephen Blank) - ULI Fall Meeting 102611Virtual ULI
There is no consensus on the future of Fannie Mae and Freddie Mac. Policymakers face difficult choices in balancing support for the mortgage market with taxpayer risk.
- The document summarizes the daily commodity outlook for gold, silver, and crude on the MCX exchange on November 24, 2011.
- Gold ended the day flat after dropping to an intra-day low but recovering slightly. Silver and crude both closed with moderate losses after dropping to their lowest prices of the day.
- Technical indicators like the RSI and stochastic signals suggest a range-bound trend for all three commodities, with downside pressure, but also potential for short-term rebounds.
The document summarizes daily commodity outlooks for gold, silver, and crude on the MCX exchange for November 16, 2011. It provides opening and closing prices, intraday highs and lows, and technical analysis indicating buying support but potential for intermediate profit taking due to overbought conditions. Resistance and support levels are given. Broader market data on volumes, turnover and global prices is also presented.
- Gold, silver, and crude oil futures opened lower on the MCX on December 2nd due to profit taking and selling pressure. Gold and silver saw modest losses by the end of the day, while crude oil saw moderate losses.
- Technical indicators for gold, silver, and crude oil, such as the RSI and stochastic, showed buying support at lower levels but the possibility of further profit taking. Charts also indicated a range-bound trend.
- The report provided resistance and support price levels for gold, silver, and crude oil futures and noted upcoming economic reports from the US and a commodity outlook.
Global Edge Capital Management provides a summary of managed futures and their investment program. Managed futures aim to reduce portfolio risk through diversification and the potential for returns in various economic conditions. However, managed futures also carry higher costs, leverage risk, and liquidity risk compared to other investments. Global Edge implements a systematic trading program across over 100 futures markets using short, medium, and long-term strategies. They employ strict risk management with individual trade and sector exposure limits. The minimum investment is $200,000 with fees of 2% management and 20% performance.
BT Financial Monthly Market Chart - June 2010BT Financial
BT Financial Monthly Markets Chart: June2010. An overview of movements in global financial markets. Prepared by BT Wrap for the adviser market. Includes review of global share markets as well as Australian share market, dominant currencies, interest rates and both short and long term asset classes.
Here are the prices of the bond on each remaining coupon payment date and maturity date, assuming the required rate of return remains 3% per annum, compounded semi-annually:
Date Price
21/04/2014 $1,009.36
21/10/2014 $1,016.25
21/04/2015 $1,023.13
21/10/2015 $1,030.01
21/04/2016 $1,036.89
21/10/2016 $1,043.77
21/04/2017 $1,050.65
21/10/2017 $1,057.53
21/04/2018 $1,064.41
Reforming Dutch Pensions - New Capital Requirements for Existing Pension RightsAegon
The proposed changes to the Dutch pension regulation FTK1 would significantly increase capital requirements for pension funds. Key changes include higher stress tests for equity risk (especially listed and private equity) and new capital charges for actively managed equity portfolios. On average, required capital for pension funds would rise from 21.7% to 26.6% of liabilities under the new rules. This could impact underfunded pension funds and require long-term recovery plans to meet solvency standards. Pension funds may need to carefully optimize their investment and hedging strategies to efficiently use their available risk budgets under the stricter proposed regulations.
- The document summarizes the daily performance of gold, silver and crude oil futures contracts on the MCX exchange on November 7th, 2012.
- Gold futures closed up 1.23% at Rs. 31,273 per 10 grams. Silver futures rose 2.28% to Rs. 59,910 per kg. Crude oil futures gained 2.77% to settle at Rs. 4,794 per barrel.
- Technical indicators for gold, silver and crude oil futures suggest buying momentum as the Relative Strength Index and stochastic indicators moved above their averages.
This document summarizes a keynote presentation given by Dr. Edward Altman on the topic of whether benign credit cycles are over and if credit markets are in a bubble. Some of the key points discussed include:
- The length of benign credit cycles and whether the current cycle is over.
- Trends in default rates, recovery rates, yields and liquidity in credit markets.
- Comparing the health of high-yield firms in 2007 vs. 2012/2014.
- Forecasts for the 2016 US high-yield bond default rate ranging from 4.2-7%.
- Historical default rates and losses on high-yield bonds from 1978-2016 with the weighted average default rate at
1) The paper develops a model of international equity returns using a multivariate system of jump-diffusion processes where jumps can occur simultaneously across assets, in order to capture the stylized facts of jumps in returns and higher cross-country correlations during periods of high volatility.
2) The authors determine the optimal portfolio for an investor using this model of returns with systemic risk. They also estimate the model parameters using stock market data and method of moments.
3) Their main finding is that while systemic risk affects the allocation between risky and riskless assets, it has a small effect on the composition within risky assets only. The cost of ignoring systemic risk for a US investor is about $1 for every $1000 invested, and
- The daily commodity report summarizes movements in gold, silver, and crude futures contracts on the MCX exchange on December 5th, 2011.
- Gold futures ended the day flat, silver futures gained marginally, and crude oil futures rose 0.52%.
- Technical indicators like the RSI, stochastic, and ADX pointed to a range-bound trend for most commodities with potential for both buying support and selling pressure.
- Gold, silver, and crude oil prices opened higher on the MCX exchange on November 29th. Gold and silver saw modest gains while crude oil closed slightly higher.
- Technical indicators show buying support for gold and silver but selling pressure could emerge for silver at higher levels. Crude oil faces resistance at higher price points.
- The daily report provides an analysis of commodity price movements, technical indicator readings, and resistance and support price levels on the MCX exchange.
The document provides a daily commodity report for gold, silver, and crude on the 9th of December 2011. It summarizes the opening, high, low, and closing prices for each commodity. It also analyzes technical indicators like RSI and stochastic oscillator and provides key resistance and support levels. Global market prices from NYMEX and the upcoming US economic calendar are also mentioned in the report.
This document provides a daily commodity outlook summarizing prices and trends for gold, silver, and crude oil futures contracts traded on the MCX exchange in India on October 10, 2011. Gold ranged between 26,255 and 26,378 closing at 26,350, up 0.5%. Silver ranged between 51,913 and 52,450 closing at 52,297, up 0.76%. Crude oil opened at 4,069 and reached a high of 4,074, closing at 4,071, up 0.89%. Technical indicators suggest continued buying support for all three commodities.
This document summarizes the performance of various Kotak Mutual Fund schemes as of June 29, 2012. It provides the inception date, returns since inception, 1 year returns as of June 29, 2012, and current value of a Rs. 10,000 investment made at inception for each scheme. It also lists the benchmark indices for each scheme and their returns. Finally, it provides details of the fund managers and the schemes each manages.
The document provides a daily commodity report for gold, silver, and crude on the MCX for December 8th, 2011. It summarizes the opening and closing prices, daily highs and lows, and technical indicators for each commodity. Gold closed modestly higher, silver closed with modest gains, and crude oil closed with moderate gains. The technical indicators suggest buying support but some intermediate profit taking for gold and silver. Crude's indicators point to potential selling pressure but buying support at lower levels.
Gold opened higher at Rs. 27,610 per gram but ended the day with marginal losses, closing at Rs. 27,558 per gram. Silver also opened higher but closed slightly lower. Crude oil opened higher at $4,539 per barrel but saw little movement and closed flat. Technical indicators show gold and silver in a range-bound trend while crude is supported by buyers. Resistance and support levels are provided.
The daily commodity report summarizes the movements in gold, silver, and crude oil futures contracts on the MCX exchange on October 4th, 2012. Gold prices opened higher but ended the day lower, silver opened lower and closed with moderate losses, and crude oil opened higher but had large losses to close the day. Technical indicators for all three commodities pointed to selling pressure. The report also provides resistance and support price levels.
The document summarizes the daily commodity report for gold, silver, and crude on the MCX for December 14th, 2011. It provides the opening, high, low, and closing prices. It notes that gold and silver bounced back from their lows and closed with marginal to moderate gains. Crude opened higher and closed with large gains. The technical indicators like RSI and Stochastic are described for each commodity. Key resistance and support levels are also mentioned. Volume and turnover data is provided for gold, silver, and crude on MCX. Global market prices and the US economic calendar are included at the end.
Investing In Gold - 12 Reasons To Own GoldLiivo Leismann
The document lists 12 reasons to own gold: 1) Gold has historically maintained its value. 2) Gold performs well during economic crises. 3) Gold functions as a currency with no satisfactory alternative. 4) Gold protects against loss of purchasing power. 5) Gold is protected against government bankruptcy and currency reforms. 6) Derivatives could still negatively impact markets. 7) Gold investments like ETFs and mining shares can boost returns. 8) Gold is negatively correlated with debt, inflation, and loss of trust in currencies. 9) Gold supply is limited and not expected to rise much in coming years. 10) Gold helps minimize geopolitical risks. 11) Gold is in an established bull market. 12) Gold protects
Venture-Backed IPO Market Shows Signs of Life in Third Quartmensa25
Nine venture-backed companies completed IPOs in the third quarter of 2003 worth $732.8 million, marking an increase from the previous four quarters which saw only eight total IPOs. There are currently 35 venture-backed companies registered with the SEC preparing for upcoming IPOs, indicating increased future activity. Strong exit markets through IPOs are important to the long-term health of the venture capital industry. The third quarter saw increased offering sizes and post-offering values from IPOs, both at their highest levels since 2002.
- The document summarizes the daily commodity outlook for gold, silver, and crude on the MCX exchange on November 24, 2011.
- Gold ended the day flat after dropping to an intra-day low but recovering slightly. Silver and crude both closed with moderate losses after dropping to their lowest prices of the day.
- Technical indicators like the RSI and stochastic signals suggest a range-bound trend for all three commodities, with downside pressure, but also potential for short-term rebounds.
The document summarizes daily commodity outlooks for gold, silver, and crude on the MCX exchange for November 16, 2011. It provides opening and closing prices, intraday highs and lows, and technical analysis indicating buying support but potential for intermediate profit taking due to overbought conditions. Resistance and support levels are given. Broader market data on volumes, turnover and global prices is also presented.
- Gold, silver, and crude oil futures opened lower on the MCX on December 2nd due to profit taking and selling pressure. Gold and silver saw modest losses by the end of the day, while crude oil saw moderate losses.
- Technical indicators for gold, silver, and crude oil, such as the RSI and stochastic, showed buying support at lower levels but the possibility of further profit taking. Charts also indicated a range-bound trend.
- The report provided resistance and support price levels for gold, silver, and crude oil futures and noted upcoming economic reports from the US and a commodity outlook.
Global Edge Capital Management provides a summary of managed futures and their investment program. Managed futures aim to reduce portfolio risk through diversification and the potential for returns in various economic conditions. However, managed futures also carry higher costs, leverage risk, and liquidity risk compared to other investments. Global Edge implements a systematic trading program across over 100 futures markets using short, medium, and long-term strategies. They employ strict risk management with individual trade and sector exposure limits. The minimum investment is $200,000 with fees of 2% management and 20% performance.
BT Financial Monthly Market Chart - June 2010BT Financial
BT Financial Monthly Markets Chart: June2010. An overview of movements in global financial markets. Prepared by BT Wrap for the adviser market. Includes review of global share markets as well as Australian share market, dominant currencies, interest rates and both short and long term asset classes.
Here are the prices of the bond on each remaining coupon payment date and maturity date, assuming the required rate of return remains 3% per annum, compounded semi-annually:
Date Price
21/04/2014 $1,009.36
21/10/2014 $1,016.25
21/04/2015 $1,023.13
21/10/2015 $1,030.01
21/04/2016 $1,036.89
21/10/2016 $1,043.77
21/04/2017 $1,050.65
21/10/2017 $1,057.53
21/04/2018 $1,064.41
Reforming Dutch Pensions - New Capital Requirements for Existing Pension RightsAegon
The proposed changes to the Dutch pension regulation FTK1 would significantly increase capital requirements for pension funds. Key changes include higher stress tests for equity risk (especially listed and private equity) and new capital charges for actively managed equity portfolios. On average, required capital for pension funds would rise from 21.7% to 26.6% of liabilities under the new rules. This could impact underfunded pension funds and require long-term recovery plans to meet solvency standards. Pension funds may need to carefully optimize their investment and hedging strategies to efficiently use their available risk budgets under the stricter proposed regulations.
- The document summarizes the daily performance of gold, silver and crude oil futures contracts on the MCX exchange on November 7th, 2012.
- Gold futures closed up 1.23% at Rs. 31,273 per 10 grams. Silver futures rose 2.28% to Rs. 59,910 per kg. Crude oil futures gained 2.77% to settle at Rs. 4,794 per barrel.
- Technical indicators for gold, silver and crude oil futures suggest buying momentum as the Relative Strength Index and stochastic indicators moved above their averages.
This document summarizes a keynote presentation given by Dr. Edward Altman on the topic of whether benign credit cycles are over and if credit markets are in a bubble. Some of the key points discussed include:
- The length of benign credit cycles and whether the current cycle is over.
- Trends in default rates, recovery rates, yields and liquidity in credit markets.
- Comparing the health of high-yield firms in 2007 vs. 2012/2014.
- Forecasts for the 2016 US high-yield bond default rate ranging from 4.2-7%.
- Historical default rates and losses on high-yield bonds from 1978-2016 with the weighted average default rate at
1) The paper develops a model of international equity returns using a multivariate system of jump-diffusion processes where jumps can occur simultaneously across assets, in order to capture the stylized facts of jumps in returns and higher cross-country correlations during periods of high volatility.
2) The authors determine the optimal portfolio for an investor using this model of returns with systemic risk. They also estimate the model parameters using stock market data and method of moments.
3) Their main finding is that while systemic risk affects the allocation between risky and riskless assets, it has a small effect on the composition within risky assets only. The cost of ignoring systemic risk for a US investor is about $1 for every $1000 invested, and
- The daily commodity report summarizes movements in gold, silver, and crude futures contracts on the MCX exchange on December 5th, 2011.
- Gold futures ended the day flat, silver futures gained marginally, and crude oil futures rose 0.52%.
- Technical indicators like the RSI, stochastic, and ADX pointed to a range-bound trend for most commodities with potential for both buying support and selling pressure.
- Gold, silver, and crude oil prices opened higher on the MCX exchange on November 29th. Gold and silver saw modest gains while crude oil closed slightly higher.
- Technical indicators show buying support for gold and silver but selling pressure could emerge for silver at higher levels. Crude oil faces resistance at higher price points.
- The daily report provides an analysis of commodity price movements, technical indicator readings, and resistance and support price levels on the MCX exchange.
The document provides a daily commodity report for gold, silver, and crude on the 9th of December 2011. It summarizes the opening, high, low, and closing prices for each commodity. It also analyzes technical indicators like RSI and stochastic oscillator and provides key resistance and support levels. Global market prices from NYMEX and the upcoming US economic calendar are also mentioned in the report.
This document provides a daily commodity outlook summarizing prices and trends for gold, silver, and crude oil futures contracts traded on the MCX exchange in India on October 10, 2011. Gold ranged between 26,255 and 26,378 closing at 26,350, up 0.5%. Silver ranged between 51,913 and 52,450 closing at 52,297, up 0.76%. Crude oil opened at 4,069 and reached a high of 4,074, closing at 4,071, up 0.89%. Technical indicators suggest continued buying support for all three commodities.
This document summarizes the performance of various Kotak Mutual Fund schemes as of June 29, 2012. It provides the inception date, returns since inception, 1 year returns as of June 29, 2012, and current value of a Rs. 10,000 investment made at inception for each scheme. It also lists the benchmark indices for each scheme and their returns. Finally, it provides details of the fund managers and the schemes each manages.
The document provides a daily commodity report for gold, silver, and crude on the MCX for December 8th, 2011. It summarizes the opening and closing prices, daily highs and lows, and technical indicators for each commodity. Gold closed modestly higher, silver closed with modest gains, and crude oil closed with moderate gains. The technical indicators suggest buying support but some intermediate profit taking for gold and silver. Crude's indicators point to potential selling pressure but buying support at lower levels.
Gold opened higher at Rs. 27,610 per gram but ended the day with marginal losses, closing at Rs. 27,558 per gram. Silver also opened higher but closed slightly lower. Crude oil opened higher at $4,539 per barrel but saw little movement and closed flat. Technical indicators show gold and silver in a range-bound trend while crude is supported by buyers. Resistance and support levels are provided.
The daily commodity report summarizes the movements in gold, silver, and crude oil futures contracts on the MCX exchange on October 4th, 2012. Gold prices opened higher but ended the day lower, silver opened lower and closed with moderate losses, and crude oil opened higher but had large losses to close the day. Technical indicators for all three commodities pointed to selling pressure. The report also provides resistance and support price levels.
The document summarizes the daily commodity report for gold, silver, and crude on the MCX for December 14th, 2011. It provides the opening, high, low, and closing prices. It notes that gold and silver bounced back from their lows and closed with marginal to moderate gains. Crude opened higher and closed with large gains. The technical indicators like RSI and Stochastic are described for each commodity. Key resistance and support levels are also mentioned. Volume and turnover data is provided for gold, silver, and crude on MCX. Global market prices and the US economic calendar are included at the end.
Investing In Gold - 12 Reasons To Own GoldLiivo Leismann
The document lists 12 reasons to own gold: 1) Gold has historically maintained its value. 2) Gold performs well during economic crises. 3) Gold functions as a currency with no satisfactory alternative. 4) Gold protects against loss of purchasing power. 5) Gold is protected against government bankruptcy and currency reforms. 6) Derivatives could still negatively impact markets. 7) Gold investments like ETFs and mining shares can boost returns. 8) Gold is negatively correlated with debt, inflation, and loss of trust in currencies. 9) Gold supply is limited and not expected to rise much in coming years. 10) Gold helps minimize geopolitical risks. 11) Gold is in an established bull market. 12) Gold protects
Venture-Backed IPO Market Shows Signs of Life in Third Quartmensa25
Nine venture-backed companies completed IPOs in the third quarter of 2003 worth $732.8 million, marking an increase from the previous four quarters which saw only eight total IPOs. There are currently 35 venture-backed companies registered with the SEC preparing for upcoming IPOs, indicating increased future activity. Strong exit markets through IPOs are important to the long-term health of the venture capital industry. The third quarter saw increased offering sizes and post-offering values from IPOs, both at their highest levels since 2002.
1) The document discusses the importance of starting investments early through systematic investment plans (SIPs) to benefit from the power of compounding over long periods of time.
2) Illustrations show that investors who start SIPs earlier and invest smaller amounts regularly over long periods can end up with significantly larger portfolio values than those investing lump sums later, despite contributing lower total amounts.
3) Delaying the start of investments, even by a few years, can result in missing out on substantial wealth creation due to compounding returns. Starting investments as early as possible, even in small amounts regularly, is critical to achieving long-term financial goals.
Charts Commercial Investment Firms Never Want You to SeeLiivo Leismann
Some Charts Commercial Investment Firms Never Want You to See.
How retail investors can benefit from the largest ongoing wealth opportunity of recent decades.
This document discusses currency risk and currency funds as a diversifying investment strategy. It provides correlation data showing that currency managers historically have low correlations with other hedge fund strategies. It also discusses different currency investment strategies, including carry trades, and provides examples of how carry trades work and their risks. The document demonstrates how exchange rates can experience rapid changes and shows the return patterns of long and short currency baskets during a past period.
Venture-Backed IPO Market Activity Continues to Lagmensa25
Venture-backed IPO activity remained low in the second quarter of 2003 with only two companies raising $164 million total, as lackluster corporate IT spending reduced companies' ability to achieve revenue growth and profitability. While IPO volume was low, the few companies that did go public were rewarded with stock prices above their offering prices. The pipeline shows six more venture-backed companies preparing to file IPOs after the close of the second quarter.
- The document discusses the First NIDA Business Analytics and Data Sciences Contest/Conference held on September 1-2, 2019 in Bangkok, Thailand.
- It describes research presented at the conference on clustering Thai investors into groups based on their investment behaviors and portfolios.
- The research found three main clusters of Thai investors - "Cash Holders", "Old-Fashioned", and "Modern Investors" - which differed in terms of the types and proportions of investments in their portfolios.
Evolution of Interest Rate Curves since the Financial CrisisFrançois Choquet
This is a presentation given to Bloomberg end users working in front, middle and back offices in Dec. 2010. It highlights the financial crisis and the subsequent shift of financial instruments used to construct a valid interest rate curve. It outlines the methodology to build a reliable curve with Deposits, FRAs, Futures and Swaps and defines the validation principles.
The document provides an outline and overview of a presentation on analyzing hedge funds and systemic risk. The presentation covers basic facts about hedge funds, including their history and structure. It discusses hedge fund returns and risks, and examines hedge funds' role in systemic risk events like the financial crises in 1998 and 2007. Summary statistics on hedge fund performance are presented from major databases to give empirical facts on the hedge fund industry.
The document provides an outline and overview of a presentation on analyzing hedge funds and systemic risk. The presentation covers basic facts about hedge funds, including their history and structure. It discusses hedge fund returns and risks, and examines hedge funds' role in systemic risk events like the financial crises in 1998 and 2007. Summary statistics on hedge fund performance are presented from major databases to give empirical facts on the hedge fund industry.
Flexible Equity Euro Long-Short (Market Neutral) strategy_End of Oct. '17Giuseppe Piazzolla
This is an example of a monthly factsheet I build to track performance and risk data of a mandate I call 'Flexible Equity - Euro Long Short Market Neutral strategy'.
Actually, it is my track record in market neutral format.
Hurricane Sandy caused massive damage and disruption on the East Coast of the United States. The document discusses the powerful impact of natural disasters but notes that focusing too much on unpredictable events is not a good investment strategy. Historically, the period after the US presidential election in November through January tends to be a positive time for the stock market as uncertainty is reduced. The newsletter provides a review of global market performance and benchmarks for Canadian investors.
This document analyzes hedge fund strategies in India. It discusses what hedge funds are and their investment approaches. Several hedge fund strategies are evaluated based on their returns from 2006-2010 using the Hedge Fund Research Index and Dow Jones Credit Suisse indices. Merger arbitrage and market directional strategies performed best according to the HFRX index, while emerging markets and managed futures strategies led in the Dow Jones index. Convertible arbitrage ranked lowest in both indices. Indian hedge funds saw strong growth and returns improved in 2010.
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The document provides information on currency futures trading volumes and limits at the National Stock Exchange of India (NSE) for January 2010. Trading volumes for USD-INR futures contracts at the NSE have been increasing month over month. Position limits for clients, members, and banks are also outlined, with the client level position limit for January 7, 2010 given as USD 31.83 million. Tables show daily trading volumes and open interest over the last month as well as volatility metrics for the underlying USD-INR currency pair and stock index futures.
Private Equity Performance Moved Into Positive Territory in Third Quarter 2003mensa25
Private equity performance moved into positive territory for the first time since 2000 in the third quarter of 2003, with a 1.3% return for the 12 months ending September 30, 2003. Both the venture capital and buyout sectors saw improved performance in the three month period ending September 30, 2003. The improvement was driven by increasing valuations and a rise in company exits through acquisitions and initial public offerings. However, many technology company valuations remain lower than at the time of original investment, presenting an ongoing challenge to fund performance. Long-term venture capital returns over 5 and 10 years remain strong.
Investment Strategy in an Era of High Market VolatilityLloydBaron
Investment strategy for consistent high returns and low risk. Ideal for financial markets that have high volatility and no definite trend. In operation since October 2010, yielding a consistent return of +/-2% per month.
The document provides information on ACE Investments Strategists, LLC, a commodity trading advisor that employs an aggressive option writing strategy on stock indices to generate returns. The strategy aims to collect premiums by selling puts and calls on the S&P 500 futures at opportune times when volatility is higher. The minimum investment is $100,000 and the CTA has approximately $3.8 million in assets under management.
How do investors pick the winning asset class? What is the importance of asset allocation and how do you build an effective asset allocation strategy? Through this deck, find answers to the benefits of equity, debt and gold assets and how does one select mutual funds to fulfill long term goals.
www.Quantumamc.com
FISCAL STIMULUS IN ECONOMIC UNIONS: WHAT ROLE FOR STATESNBER
1) State deficits can boost job growth in the deficit state but also in neighboring states, showing significant spillover effects. Coordinated fiscal policies across states are more cost-effective than individual state policies.
2) Federal aid to states, when coordinated, can effectively stimulate the overall economy. Targeted aid linked to services for lower income households is more effective than untargeted aid.
3) The economic stimulus of the American Recovery and Reinvestment Act could have been 30% more effective if it relied more on targeted aid and less on untargeted aid. Coordinated fiscal policies that account for spillovers across economic regions are optimal for stimulus programs.
Business in the United States Who Owns it and How Much Tax They PayNBER
This document analyzes business ownership and tax payments in the United States using administrative tax data from 2011. It finds:
1. Pass-through business income, such as from partnerships and S-corporations, is highly concentrated.
2. The average federal income tax rate on pass-through business income is 19%.
3. 30% of income earned by partnerships cannot be uniquely traced to an identifiable, ultimate owner.
Redistribution through Minimum Wage Regulation: An Analysis of Program Linkag...NBER
This document analyzes the program linkages and budgetary spillovers of minimum wage regulation using data from recent federal minimum wage increases. It finds that wages increased for some low-skilled workers but employment declined significantly. While safety net programs provided some income replacement, earnings and tax revenues decreased substantially. Overall, the analysis suggests minimum wage increases reallocated income from employers and taxpayers to low-wage workers, with program and tax revenue spillovers of approximately $1-2 billion annually.
The Distributional Effects of U.S. Clean Energy Tax CreditsNBER
This document summarizes a study examining the distributional effects of US clean energy tax credits from 2006-2012. It finds that higher-income households claimed a disproportionate share of the $18 billion in credits. Specifically, the study analyzes tax return data to see who claimed credits for investments like home weatherization, solar panels, hybrid vehicles, and electric vehicles. It aims to provide insights into how the inequitable distribution may inform future program design and the debate around subsidies versus carbon taxes.
An Experimental Evaluation of Strategies to Increase Property Tax Compliance:...NBER
This document summarizes a study that tested different strategies for increasing property tax compliance in Philadelphia. The researchers worked with the city's Department of Revenue to randomly assign taxpayers with overdue property taxes to receive one of four letters: a standard letter, or a standard letter plus an additional sentence appealing to civic duty, public services benefits, or potential home loss. They found the civic duty appeal significantly increased tax payments, especially for those with lower debts. Appealing to public services benefits also showed some effect on higher debt taxpayers. The researchers conclude strategically targeting messages could further improve compliance.
This document discusses recommendation systems and topic modeling for documents using machine learning techniques. It begins by introducing recommendation systems and different types of recommendation literature, including item similarity, collaborative filtering, and hierarchical models. It then discusses bringing in user choice data and different collaborative filtering approaches like k-nearest neighbor prediction and matrix factorization. The document also covers topic modeling, including latent Dirichlet allocation, and how topic models can be combined with user choice models. It concludes by discussing challenges in causal inference when using machine learning.
The document discusses using machine learning methods to estimate heterogeneous causal effects. It proposes an approach of using regression trees on a transformed outcome variable to estimate individual treatment effects. However, this approach is critiqued as it can introduce noise. An improved approach is presented that uses the sample average treatment effect within each leaf as the estimator, and uses the variance of predictions for model fitting criteria and a matching estimator for out-of-sample evaluation. The approach separates the tasks of model selection and treatment effect estimation to enable valid statistical inference on estimated effects in subgroups.
This document discusses various machine learning techniques including:
1. Tree pruning involves first growing a large tree and then pruning branches that do not improve the objective function. This prevents early stopping.
2. Boosting uses multiple weak learners sequentially to get an additive model that approximates the regression function. It combines many simple models to create a powerful ensemble model.
3. Unsupervised learning techniques like principal component analysis and clustering are used to find patterns in data without an outcome variable. These include reducing dimensions and partitioning data into subgroups.
This document summarizes a discussion between Susan Athey and Guido Imbens on the relationship between machine learning and causal inference. It notes that while machine learning excels at prediction problems using large datasets, it has weaknesses when it comes to causal questions. Econometrics and statistics literature focuses more on formal theories of causality. The document proposes combining the strengths of both fields by developing machine learning methods that can estimate causal effects, accounting for issues like endogeneity and treatment effect heterogeneity. It outlines some open problems and directions for future research at the intersection of these fields.
This document summarizes key points from a lecture on diffusion, identification, and network formation. It discusses how diffusion of products can be modeled, including information passing between neighbors. Estimation techniques are described to model information diffusion on actual networks by simulating propagation over time. The challenges of identification when networks are endogenous are also covered. Forming models of network formation that account for link dependencies is an important area of current research.
This document provides an overview of social and economic networks. It discusses why networks are important to study, as interactions are shaped by relationships. Some examples of networks are presented, such as marriage networks, friendship networks in high schools, military alliances, and interbank payment networks. The document then discusses how to represent networks mathematically and introduces concepts like degree, paths, average path length, and degree distributions. It also covers homophily, or the tendency for similar people to connect, and shows examples of homophily along attributes. Finally, it introduces the idea of centrality and influence within a network, discussing measures like degree centrality and eigenvector centrality.
Daron Acemoglu presents a document on networks, games over networks, and peer effects. The document discusses how networks can be used to model externalities and peer effects. It presents a model of a game over networks where players' payoffs are determined by their own actions, the actions of their network neighbors, and potential strategic interactions. The best responses in this game are characterized. Under certain conditions, such as the game being a potential game, the game will have a unique Nash equilibrium where each player's action is determined by their position in the network. The document discusses applications of this type of network game model.
The document discusses how economic shocks propagate through networks of production and inputs. It begins by presenting a simple model of an economy consisting of sectors that use each other's outputs as inputs. Shocks to individual sectors can spread to other sectors through this production network. While diversification across many sectors could cause microeconomic shocks to "wash out", the structure of the network influences how shocks aggregate. Asymmetric networks with some sectors having outsized importance can lead to greater aggregate volatility than more regular networks where all sectors are equally important. Empirical analysis of input-output data supports the theory by finding significant downstream effects of sectoral shocks.
The NBER Working Paper Series at 20,000 - Joshua GansNBER
This document discusses publication lags in economics research, with working papers appearing years before peer-reviewed published work. It questions whether publication means anything given the large number of working papers now available. It also considers options for the National Bureau of Economic Research's web repository, such as providing open access to working papers along with links to related materials, peer reviews, and published versions of the papers.
The NBER Working Paper Series at 20,000 - Claudia GoldinNBER
This document analyzes trends in the NBER Working Paper series from 1978 to 2013. It finds that the number of working papers published annually has increased dramatically over time, from around 100 in the late 1970s to over 1,200 by 2013. The number of NBER research programs has also expanded significantly, from 7 originally to over 20 currently. Individual working papers now tend to involve more programs and more authors than in the past as well. The working paper series has become less specialized and more collaborative over four decades of growth and evolution.
The NBER Working Paper Series at 20,000 - James PoterbaNBER
This document summarizes the origin and evolution of the NBER Working Paper series from its beginning in 1972 to the present. It started as an outlet for NBER research and has grown tremendously over time. Some key points:
- The first working paper was published in June 1973 and there were only 3 papers in the first month.
- Growth accelerated after Martin Feldstein became NBER President in 1977, with over 200 papers published in 1981.
- There are now over 20,000 working papers published and about 5.5 million downloads per year from around the world.
- The most popular papers focus on topics like financial crises, economic growth, and corporate governance.
The NBER Working Paper Series at 20,000 - Scott SternNBER
The NBER Working Paper series recently reached 20,000 papers published and is recognized as one of the leading economics working paper series in the world. According to 2014 Google Scholar Metrics, the NBER Working Paper series ranked 18th out of thousands of journals by its H-5 index, which measures the productivity and impact of published work. The high ranking of the NBER Working Paper series demonstrates its important role in disseminating new economic research and ideas worldwide.
The NBER Working Paper Series at 20,000 - Glenn EllisonNBER
This document summarizes trends in the publication process and the role of working papers. It finds that publication times at economics journals have increased significantly over the past 30 years. Acceptance rates at top journals have also declined. These changes mean that published papers cannot address current issues or reflect the latest state of knowledge as quickly. The document also finds that working papers, such as those from the NBER, play an increasingly important role, as economists can disseminate their work more quickly through working paper series than through the traditional publication process. NBER working papers account for a large share of papers eventually published in top journals and those NBER papers go on to be well-cited.