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Alcatel-Lucent_RCS_SN_Markets_EXT
The document discusses the concept of an "RCS Cloud" to help integrate Rich Communication Services (RCS) with social networks and across different devices. It proposes hosting RCS services in a cloud-based platform that would provide benefits such as increasing data usage, simplifying access to services from any screen, and allowing developers to more easily build applications that integrate RCS and social networks. The "RCS Cloud" is presented as a way to keep up with the growing importance of mobile, digital and social lifestyles while minimizing the impacts of rapid changes on RCS networks.
Imf proposal bancor
The document discusses the rapid accumulation of global foreign exchange reserves in recent decades and its implications. It notes that reserve accumulation has been driven by imperfections in the international monetary system including volatile capital flows, uncertainty about crisis liquidity, and the lack of good alternatives to the US dollar as a reserve asset. Left unchecked, extrapolations suggest demand for reserves could become unsustainably large relative to supply from reserve issuing countries in the medium to long term. The document explores options to address these issues by attenuating reserve demand and diversifying reserve supply.
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The document discusses two myths about the US dollar: 1) That major economies are actively trying to weaken their currencies through intervention to boost exports, with the exceptions of the US and Europe; 2) Estimates of long-term currency equilibrium levels are disputed and inexact, though the yen appears overvalued and yuan undervalued relative to estimates. Currency wars risk destabilizing deviations from true values and competitive devaluations mirror the chaos of the 1930s.
The Great Recession
The Great Recession document summarizes the causes and effects of the late-2000s financial crisis and recession in the United States. It discusses how a housing bubble fueled by subprime lending burst, triggering a credit crunch and widespread economic impacts. The recession resulted in job losses, rising unemployment, and high foreclosure rates. Government responses included stimulus packages under Presidents Bush and Obama, as well as financial bailouts. The recovery was predicted to be slow due to persistent effects of financial crises on economic growth.
Hedge funds - Quick Overview
The document is a cheat sheet for hedge funds. It provides summaries of key information about hedge funds in 3 sentences or less:
1) The first page summarizes common characteristics of hedge funds, who invests in them, and why investors may choose hedge funds for diversification, downside protection, and an absolute return focus.
2) Page 2 defines differences between hedge funds and mutual funds, such as flexibility, paperwork requirements, liquidity, and an absolute vs. relative return focus. It also summarizes reasons to invest in hedge funds.
3) Page 3 summarizes common hedge fund fees including an annual management fee typically between 1-2% of assets and an incentive fee usually 20% of profits
Low Income Housing Tax Credit Funds Investment Opportunities For Banks
This document discusses low-income housing tax credit funds as investment opportunities for banks. It provides biographies of speakers at an event on this topic, including the Comptroller of the Currency, representatives from the OCC, CAHEC, and Ernst & Young. The presentation covers how housing tax credits differ from tax deductions, reasons to invest in housing tax credits, typical housing tax credit investors, methods of fund investing, benefits of fund investing, CAHEC's funds and portfolio, how to evaluate fund managers and funds, how housing tax credits are calculated, and underwriting and pricing considerations.
Sovereign Wealth Funds I M F
This document analyzes the macrofinancial linkages between a commodity-based sovereign wealth fund's (SWF) strategic asset allocation (SAA) and its owner country's macroeconomic framework. It develops an analytical model based on Markowitz portfolio theory to determine the SAA, taking into account the SWF's objectives, investment constraints, and the country's economic characteristics and vulnerabilities. The model allows assessing whether the SAA adequately incorporates macrofinancial risks and whether the SWF's objectives are consistent with its constraints. An illustrative application of the model is also presented.
Recommended
Alcatel-Lucent_RCS_SN_Markets_EXT
The document discusses the concept of an "RCS Cloud" to help integrate Rich Communication Services (RCS) with social networks and across different devices. It proposes hosting RCS services in a cloud-based platform that would provide benefits such as increasing data usage, simplifying access to services from any screen, and allowing developers to more easily build applications that integrate RCS and social networks. The "RCS Cloud" is presented as a way to keep up with the growing importance of mobile, digital and social lifestyles while minimizing the impacts of rapid changes on RCS networks.
Imf proposal bancor
The document discusses the rapid accumulation of global foreign exchange reserves in recent decades and its implications. It notes that reserve accumulation has been driven by imperfections in the international monetary system including volatile capital flows, uncertainty about crisis liquidity, and the lack of good alternatives to the US dollar as a reserve asset. Left unchecked, extrapolations suggest demand for reserves could become unsustainably large relative to supply from reserve issuing countries in the medium to long term. The document explores options to address these issues by attenuating reserve demand and diversifying reserve supply.
Two myths about the Dollar
The document discusses two myths about the US dollar: 1) That major economies are actively trying to weaken their currencies through intervention to boost exports, with the exceptions of the US and Europe; 2) Estimates of long-term currency equilibrium levels are disputed and inexact, though the yen appears overvalued and yuan undervalued relative to estimates. Currency wars risk destabilizing deviations from true values and competitive devaluations mirror the chaos of the 1930s.
The Great Recession
The Great Recession document summarizes the causes and effects of the late-2000s financial crisis and recession in the United States. It discusses how a housing bubble fueled by subprime lending burst, triggering a credit crunch and widespread economic impacts. The recession resulted in job losses, rising unemployment, and high foreclosure rates. Government responses included stimulus packages under Presidents Bush and Obama, as well as financial bailouts. The recovery was predicted to be slow due to persistent effects of financial crises on economic growth.
Hedge funds - Quick Overview
The document is a cheat sheet for hedge funds. It provides summaries of key information about hedge funds in 3 sentences or less:
1) The first page summarizes common characteristics of hedge funds, who invests in them, and why investors may choose hedge funds for diversification, downside protection, and an absolute return focus.
2) Page 2 defines differences between hedge funds and mutual funds, such as flexibility, paperwork requirements, liquidity, and an absolute vs. relative return focus. It also summarizes reasons to invest in hedge funds.
3) Page 3 summarizes common hedge fund fees including an annual management fee typically between 1-2% of assets and an incentive fee usually 20% of profits
Low Income Housing Tax Credit Funds Investment Opportunities For Banks
This document discusses low-income housing tax credit funds as investment opportunities for banks. It provides biographies of speakers at an event on this topic, including the Comptroller of the Currency, representatives from the OCC, CAHEC, and Ernst & Young. The presentation covers how housing tax credits differ from tax deductions, reasons to invest in housing tax credits, typical housing tax credit investors, methods of fund investing, benefits of fund investing, CAHEC's funds and portfolio, how to evaluate fund managers and funds, how housing tax credits are calculated, and underwriting and pricing considerations.
Sovereign Wealth Funds I M F
This document analyzes the macrofinancial linkages between a commodity-based sovereign wealth fund's (SWF) strategic asset allocation (SAA) and its owner country's macroeconomic framework. It develops an analytical model based on Markowitz portfolio theory to determine the SAA, taking into account the SWF's objectives, investment constraints, and the country's economic characteristics and vulnerabilities. The model allows assessing whether the SAA adequately incorporates macrofinancial risks and whether the SWF's objectives are consistent with its constraints. An illustrative application of the model is also presented.
Deutsche Bank Return to Normalcy
Global financial assets declined over $16 trillion in 2008 due to losses in equities and real estate. Global equities lost nearly half their value, wiping out $28.8 trillion, while residential and commercial real estate lost over $7.5 trillion. Financial institutions wrote down over $1.7 trillion in losses. Assets under management fell over $15 trillion in 2008 alone. Many markets have rebounded since March 2009 but a full return to normalcy may still be years away.
Economic Crisis a study of
This document contains Ludwig von Mises' essays on economic crises, monetary policy, and business cycles from 1919 to 1946. In the essays, Mises accurately predicts the collapse of the German mark in the early 1920s, the stock market crash of 1929, and the ensuing depression based on his theory that credit expansions artificially lower interest rates and lead to malinvestment and an inevitable bust. He argues for monetary stabilization through the gold standard and warns against inflation and government intervention in banking and interest rates, which he says exacerbates economic fluctuations.
Derivatives
Derivatives
Historical - Presentation from 2007, slides mention Lehman - which obviously doesn't exist for reasons we all know - the subject explores in depth - Derivatives.
Introduction to credit derivatives
The document introduces credit derivatives and their key types. Credit derivatives allow parties to transfer credit risk by buying and selling protection against the default of a reference entity. The main types discussed are credit default swaps, credit spread options, and credit-linked notes. Credit default swaps allow a party to buy protection, paying a premium in exchange for a payout if the reference entity defaults. Credit spread options grant the right to buy a bond at a strike spread. Credit-linked notes transfer risk from the issuer to investors by tying note repayment to a reference loan.
Sun Tzu\'s The Art of War
This document provides a history and commentary on Sun Tzu's classic work "The Art of War". It begins with a brief biography of Sun Tzu, noting he lived around 490 BC and wrote the 13 chapters of "The Art of War" which became influential in both China and other countries. The document then excerpts and comments on several chapters, focusing on Sun Tzu's teachings around strategic planning, deception, assessing strengths and weaknesses, maneuvering troops, and adapting to different terrain. The overall message is that war should be a last resort, and the goal should be subduing enemies without actual combat through strategies like dividing their alliance, attacking weaknesses, and maintaining flexibility.
Central bank monetary policy
Central banks use various monetary policy tools to achieve economic goals like price stability, full employment, and economic growth. These tools include reserve requirements, the discount rate, and open market operations. Reserve requirements and the discount rate affect the cost of credit, while open market operations influence the supply of reserves and interest rates. The Federal Reserve uses these tools and interest rate targeting to balance its objectives, though tightening credit to curb inflation may slow growth and raise unemployment, highlighting conflicts between goals.
Gambling, Probability, and Risk
1. The document discusses probability and counting methods for computing probabilities of events related to gambling and drawing cards from a deck. It introduces concepts like theoretical probability, empirical probability, permutations, combinations, and using factorials and probabilities to solve counting problems.
2. As an example, it calculates the probability of drawing a pair of the same color cards from a deck and determines it is 49% based on counting the possible combinations.
3. It also discusses using probabilities to determine rational betting strategies, like folding unless holding a pair of the same color or suit when playing against others who each drew 2 cards.
I M F Risks Derivatives
This document discusses how moving over-the-counter (OTC) derivatives contracts to central counterparties (CCPs) would require large increases in posted collateral from large banks. It estimates that up to $2 trillion of counterparty risk in the OTC derivatives market is currently under-collateralized. CCPs would require full collateralization of positions, so offloading contracts to CCPs would significantly increase collateral needs for large banks. The document also notes concentration risks if only standardized contracts are cleared through CCPs, rather than the full portfolio. It concludes regulators may need to incentivize moving contracts through capital requirements on remaining bilateral positions.
Banking in the us
The document discusses the history and role of the Federal Reserve in controlling the US money supply through various monetary policy tools. It explains how the Federal Reserve can directly control the monetary base and influence broader monetary aggregates. By purchasing or selling Treasury securities, the Federal Reserve can adjust bank reserves and influence interest rates, inflation, output, and employment.
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Deutsche Bank Return to Normalcy
Global financial assets declined over $16 trillion in 2008 due to losses in equities and real estate. Global equities lost nearly half their value, wiping out $28.8 trillion, while residential and commercial real estate lost over $7.5 trillion. Financial institutions wrote down over $1.7 trillion in losses. Assets under management fell over $15 trillion in 2008 alone. Many markets have rebounded since March 2009 but a full return to normalcy may still be years away.
Economic Crisis a study of
This document contains Ludwig von Mises' essays on economic crises, monetary policy, and business cycles from 1919 to 1946. In the essays, Mises accurately predicts the collapse of the German mark in the early 1920s, the stock market crash of 1929, and the ensuing depression based on his theory that credit expansions artificially lower interest rates and lead to malinvestment and an inevitable bust. He argues for monetary stabilization through the gold standard and warns against inflation and government intervention in banking and interest rates, which he says exacerbates economic fluctuations.
Derivatives
Derivatives
Historical - Presentation from 2007, slides mention Lehman - which obviously doesn't exist for reasons we all know - the subject explores in depth - Derivatives.
Introduction to credit derivatives
The document introduces credit derivatives and their key types. Credit derivatives allow parties to transfer credit risk by buying and selling protection against the default of a reference entity. The main types discussed are credit default swaps, credit spread options, and credit-linked notes. Credit default swaps allow a party to buy protection, paying a premium in exchange for a payout if the reference entity defaults. Credit spread options grant the right to buy a bond at a strike spread. Credit-linked notes transfer risk from the issuer to investors by tying note repayment to a reference loan.
Sun Tzu\'s The Art of War
This document provides a history and commentary on Sun Tzu's classic work "The Art of War". It begins with a brief biography of Sun Tzu, noting he lived around 490 BC and wrote the 13 chapters of "The Art of War" which became influential in both China and other countries. The document then excerpts and comments on several chapters, focusing on Sun Tzu's teachings around strategic planning, deception, assessing strengths and weaknesses, maneuvering troops, and adapting to different terrain. The overall message is that war should be a last resort, and the goal should be subduing enemies without actual combat through strategies like dividing their alliance, attacking weaknesses, and maintaining flexibility.
Central bank monetary policy
Central banks use various monetary policy tools to achieve economic goals like price stability, full employment, and economic growth. These tools include reserve requirements, the discount rate, and open market operations. Reserve requirements and the discount rate affect the cost of credit, while open market operations influence the supply of reserves and interest rates. The Federal Reserve uses these tools and interest rate targeting to balance its objectives, though tightening credit to curb inflation may slow growth and raise unemployment, highlighting conflicts between goals.
Gambling, Probability, and Risk
1. The document discusses probability and counting methods for computing probabilities of events related to gambling and drawing cards from a deck. It introduces concepts like theoretical probability, empirical probability, permutations, combinations, and using factorials and probabilities to solve counting problems.
2. As an example, it calculates the probability of drawing a pair of the same color cards from a deck and determines it is 49% based on counting the possible combinations.
3. It also discusses using probabilities to determine rational betting strategies, like folding unless holding a pair of the same color or suit when playing against others who each drew 2 cards.
I M F Risks Derivatives
This document discusses how moving over-the-counter (OTC) derivatives contracts to central counterparties (CCPs) would require large increases in posted collateral from large banks. It estimates that up to $2 trillion of counterparty risk in the OTC derivatives market is currently under-collateralized. CCPs would require full collateralization of positions, so offloading contracts to CCPs would significantly increase collateral needs for large banks. The document also notes concentration risks if only standardized contracts are cleared through CCPs, rather than the full portfolio. It concludes regulators may need to incentivize moving contracts through capital requirements on remaining bilateral positions.
Banking in the us
The document discusses the history and role of the Federal Reserve in controlling the US money supply through various monetary policy tools. It explains how the Federal Reserve can directly control the monetary base and influence broader monetary aggregates. By purchasing or selling Treasury securities, the Federal Reserve can adjust bank reserves and influence interest rates, inflation, output, and employment.