The Portfolio Compass provides a snapshot of LPL Financial Research’s views on equity & alternative asset classes, the equity sectors, and fixed income. This biweekly publication illustrates our current views and will change as needed over a three- to 12-month time horizon. | Compass Changes from last publication:
Upgraded energy commodity to Neutral/Positive from Neutral.
Upgraded preferred securities to Neutral/Positive from Neutral.
Upgraded mortgage-backed securities (MBS) to Neutral from Negative/Neutral.
The Portfolio Compass provides a snapshot of LPL Financial Research’s views on equity & alternative asset classes, the equity sectors, and fixed income. This biweekly publication illustrates our current views and will change as needed over a three- to 12-month time horizon. | Compass Changes
Downgraded mortgage-backed securities (MBS) to Negative/Neutral
from Neutral.
Upgraded Bank Loans to Neutral/Positive from Neutral.
LPL Portfolio Compass | Navigating the Markets | 10/31/12JP Marketing | NE
Compass Changes
Downgraded technology to neutral/positive from positive.
Investment Takeaways
Our near-term stock market view remains slightly cautious, with the S&P
500 having returned 14% this year (as of October 30, 2012), above the
high end of our forecast.*
Our lowered technology view remains modestly positive. Disappointing
earnings results hurt the sector in October, although returns have matched
the S&P 500 in 2012 (as of October 30, 2012).
Compass changes: Upgraded emerging markets view from Neutral to Neutral/Positive. Downgraded precious metals view from Positive to Neutral/Positive. Our near-term stock market view remains slightly cautious, with the S&P
• 500 having reached our 2012 return target (as of December 11, 2012) and given our base case expectation for modest single-digit returns in 2013.*
• We continue to favor cyclical sectors for the balance of 2012 and into 2013.
• Our upgraded emerging markets (EM) view is based on our expectation for better growth in China in 2013.
The document provides LPL Financial Research's views on various asset classes and sectors for investment purposes. Some of the key points from the summary are:
- The views remain cautiously neutral on stocks in the near term given the S&P 500's strong returns already this year. Precious metals are favored due to expectations that further quantitative easing will weaken the US dollar.
- Among equity sectors, cyclical sectors like materials, energy, industrials and technology are preferred. The materials view was recently upgraded on expectations that quantitative easing will boost commodity prices.
- In fixed income, intermediate bonds are favored over short term given expectations that interest rates will remain low. Economically sensitive bonds like high yield
NAVIGATING THE MARKETS
No Compass Changes
Investment Takeaways
Our near-term stock market view remains slightly cautious, with the S&P 500 having reached our 2012 return target (as of November 27, 2012) and given our base case expectation for modest single-digit returns in 2013.*
We continue to favor cyclical sectors for the balance of 2012 and into 2013, consistent with our base case 2013 outlook.*
We continue to favor precious metals amid Quantitative Easing 3 (QE3), which we expect to weaken the US dollar.
Our emerging markets view is positively biased, as China’s growth is troughing.
Higher yielding segments of the bond market remain attractive, but we have tempered our enthusiasm.
Good financial earnings are positive for preferred securities and help offset lower yields.
We find municipal bonds among the more attractive high-quality bond options. The prospect of higher taxes bodes well, offset by lingering risks of a 28% cap on the exemption of tax-exempt interest income.
The document provides an overview and analysis of investment views from LPL Financial Research across various asset classes and sectors. Some key points:
- U.S. stocks remain favored over bonds, cash, and alternatives. Within equities, growth stocks are preferred over value, and economically sensitive sectors like technology and industrials are favored.
- Precious metals commodities were upgraded to positive due to prospects for more monetary stimulus from the Federal Reserve.
- In fixed income, economically sensitive sectors are favored for their higher yields compared to interest rate sensitive sectors like Treasuries. Municipal bonds remain attractively valued.
- The technology sector leads the S&P 500 year-to-date and was the top
Navigating the Markets 9/19/12 | The Portfolio Compass provides a snapshot of LPL Financial Research’s views on Equity & Alternative Asset Classes, the Equity Sectors, and Fixed Income. This biweekly publication illustrates our current views and will change as needed over a 3- to 12-month time horizon.
The Portfolio Compass provides a snapshot of LPL Financial Research’s views on equity & alternative asset classes, the equity sectors, and fixed income. This biweekly publication illustrates our current views and will change as needed over a three- to 12-month time horizon. | Compass Changes from last publication:
Upgraded energy commodity to Neutral/Positive from Neutral.
Upgraded preferred securities to Neutral/Positive from Neutral.
Upgraded mortgage-backed securities (MBS) to Neutral from Negative/Neutral.
The Portfolio Compass provides a snapshot of LPL Financial Research’s views on equity & alternative asset classes, the equity sectors, and fixed income. This biweekly publication illustrates our current views and will change as needed over a three- to 12-month time horizon. | Compass Changes
Downgraded mortgage-backed securities (MBS) to Negative/Neutral
from Neutral.
Upgraded Bank Loans to Neutral/Positive from Neutral.
LPL Portfolio Compass | Navigating the Markets | 10/31/12JP Marketing | NE
Compass Changes
Downgraded technology to neutral/positive from positive.
Investment Takeaways
Our near-term stock market view remains slightly cautious, with the S&P
500 having returned 14% this year (as of October 30, 2012), above the
high end of our forecast.*
Our lowered technology view remains modestly positive. Disappointing
earnings results hurt the sector in October, although returns have matched
the S&P 500 in 2012 (as of October 30, 2012).
Compass changes: Upgraded emerging markets view from Neutral to Neutral/Positive. Downgraded precious metals view from Positive to Neutral/Positive. Our near-term stock market view remains slightly cautious, with the S&P
• 500 having reached our 2012 return target (as of December 11, 2012) and given our base case expectation for modest single-digit returns in 2013.*
• We continue to favor cyclical sectors for the balance of 2012 and into 2013.
• Our upgraded emerging markets (EM) view is based on our expectation for better growth in China in 2013.
The document provides LPL Financial Research's views on various asset classes and sectors for investment purposes. Some of the key points from the summary are:
- The views remain cautiously neutral on stocks in the near term given the S&P 500's strong returns already this year. Precious metals are favored due to expectations that further quantitative easing will weaken the US dollar.
- Among equity sectors, cyclical sectors like materials, energy, industrials and technology are preferred. The materials view was recently upgraded on expectations that quantitative easing will boost commodity prices.
- In fixed income, intermediate bonds are favored over short term given expectations that interest rates will remain low. Economically sensitive bonds like high yield
NAVIGATING THE MARKETS
No Compass Changes
Investment Takeaways
Our near-term stock market view remains slightly cautious, with the S&P 500 having reached our 2012 return target (as of November 27, 2012) and given our base case expectation for modest single-digit returns in 2013.*
We continue to favor cyclical sectors for the balance of 2012 and into 2013, consistent with our base case 2013 outlook.*
We continue to favor precious metals amid Quantitative Easing 3 (QE3), which we expect to weaken the US dollar.
Our emerging markets view is positively biased, as China’s growth is troughing.
Higher yielding segments of the bond market remain attractive, but we have tempered our enthusiasm.
Good financial earnings are positive for preferred securities and help offset lower yields.
We find municipal bonds among the more attractive high-quality bond options. The prospect of higher taxes bodes well, offset by lingering risks of a 28% cap on the exemption of tax-exempt interest income.
The document provides an overview and analysis of investment views from LPL Financial Research across various asset classes and sectors. Some key points:
- U.S. stocks remain favored over bonds, cash, and alternatives. Within equities, growth stocks are preferred over value, and economically sensitive sectors like technology and industrials are favored.
- Precious metals commodities were upgraded to positive due to prospects for more monetary stimulus from the Federal Reserve.
- In fixed income, economically sensitive sectors are favored for their higher yields compared to interest rate sensitive sectors like Treasuries. Municipal bonds remain attractively valued.
- The technology sector leads the S&P 500 year-to-date and was the top
Navigating the Markets 9/19/12 | The Portfolio Compass provides a snapshot of LPL Financial Research’s views on Equity & Alternative Asset Classes, the Equity Sectors, and Fixed Income. This biweekly publication illustrates our current views and will change as needed over a 3- to 12-month time horizon.
A summer training project report presentation ondimpishah1989
This document summarizes a presentation on derivatives, specifically futures and options, given at JM Financial Services Ltd. It provides an overview of JM Financial as a large Indian broking firm, introduces various derivative products like forwards, futures, and options. It describes how futures and options are traded on exchanges, including details on contracts, expiration cycles, and pricing. It also outlines the three main types of derivative traders - hedgers who minimize risk, speculators who bet on market movements, and arbitrageurs who profit from pricing discrepancies. The conclusion emphasizes how derivatives allow participants to convert unlimited risks to limited ones and serve as risk management tools.
The daily derivatives outlook document provides a summary of analysis on the Nifty, Bank Nifty, USD/INR, and stock futures markets. It notes that the Nifty futures discount narrowed and open interest decreased, indicating short covering. Bank Nifty futures also saw a narrowing discount and decrease in open interest. USD/INR premium went down and open interest decreased due to long liquidation. Several stocks saw long buildup and short covering or reduction.
This document provides a macroeconomic overview from the perspective of hedge funds. It discusses various factors that hedge funds analyze, including fixed income, equities, macroeconomic data, correlation, and cash flows. Graphs show trends in US treasury yields, stock market correlations, and cash flows into mutual funds. The document also discusses long/short equity strategies and the importance of a fund having high alpha and low beta. It analyzes the performance of sample funds to determine whether their returns came more from alpha or beta.
The document provides an economic and market outlook for 2012, predicting that growth will bottom out in the first quarter of 2012 at 6% for India while inflation averages around 7%, and that monetary policy in India will start easing on the back of slowing growth and easing inflation. Globally, the outlook expects no recession in the US with growth around 2% and a tricky situation in Europe, while select emerging markets and exposure to crude oil, the US dollar, and select equities are recommended for investment.
The Nifty futures went into a marginal discount and Bank Nifty futures registered a small premium over spot due to negative news flow and short covering. Put buying was seen in the 5100 strike of Nifty as traders reduced positions. The equilibrium for Nifty remained around 5200 and for Bank Nifty between 10200 and 10300. Rollovers for Nifty were 59% and below 59% for some sectors like IT, capital goods, and power. The USD/INR equilibrium moved down to between 52.5-52.75 as 53 proved difficult to surpass before the settlement.
The document provides a market summary and analysis from Paycall Trading's Swing Trader Newsletter dated June 4, 2010. It discusses the positive performance of global markets, with the Sensex ending above 17,000 and Nifty closing at a two-week high, supported by strong global cues and short covering. Technical analysis identifies levels for the Nifty to watch. Specific stock recommendations are provided, identified as blockbuster, jackpot, and Paycall stocks based on technical factors like patterns and breakouts. A disclaimer notes this should not be considered solicitation and views may differ from Paycall Research.
The mutual fund industry in India saw a 1.5% decrease in assets under management in June 2012 due to large outflows from liquid funds. The overall industry witnessed outflows of Rs. 23,969 crore during the month. Indian equity markets closed higher at the end of June as global markets rallied after European leaders took action to address banking issues. Government bond yields declined over the month as liquidity improved in the banking system.
This document provides information about the IPO of Onelife Capital Advisors Ltd., including the price band, shareholding structure pre- and post-IPO, and financial details. It summarizes that Onelife is a loss-making financial services company planning an IPO to raise $7.48 million. While India's financial services sector has grown, the reviewer does not recommend subscribing to Onelife's IPO due to its losses, smaller size than peers, and expensive valuation relative to growth prospects and business risks.
The document discusses stock exchanges around the world and compares their performance over the last 5 years. It finds that while the Shanghai Stock Exchange historically outperformed the Bombay Stock Exchange, the BSE has seen better growth over the past 5 years due to factors like improved corporate profitability, more developed capital markets, and consumption-driven growth in India compared to China's export reliance. The relative strengths of the two exchanges are summarized and the effects on the global economy and India are discussed.
Current account convertibility refers to the freedom to convert a country's currency into foreign currencies for trade-related transactions like imports, exports, and investment income. Capital account convertibility extends this freedom to include converting a country's currency for financial transactions like purchasing foreign assets and securities. A country can have partial convertibility by allowing currency conversion for some current account transactions but maintaining controls over capital account transactions.
Chapter3International Finance ManagementPiyush Gaur
This document provides sample answers and solutions to end-of-chapter questions and problems about balance of payments. It discusses key concepts like defining the balance of payments, reasons for examining BOP data, causes of US and Japan's current account balances, how countries can have overall BOP surpluses or deficits, components of official reserve assets, and how various transactions are classified in a country's BOP. It also provides an example of constructing a BOP table for Japan in 2006 and interpreting the data.
The document discusses various investment and savings options for individuals, including their typical returns and risks. It provides statistics on household savings in India for 2013-14, showing the majority in currency and bank deposits, followed by investment in shares, debentures, mutual funds, and life insurance. The document advocates that equity investment through the stock market can be a means to multiply wealth over the long run through participation in a country's economic growth, but that individuals tend to be more conservative investors.
MF0015 - INTERNATIONAL FINANCIAL MANAGEMENTsmumbahelp
This document provides information about getting fully solved assignments. It instructs students to send their semester and specialization name to an email address or call a phone number to receive assistance with assignments. It then provides an example of an assignment question related to international financial management that covers topics like forward markets, interest rate parity, cash concentration strategies, and international taxation. The assignment asks students to answer 6 questions in approximately 400 words each and provides an evaluation scheme for each question.
The document discusses various investment options and their returns over time. It notes that investing Rs. 100,000 in 1979 would be worth over Rs. 5 million if invested in the stock market compared to Rs. 326,000-366,000 if invested in more conservative options like fixed deposits, public provident fund, or gold after adjusting for inflation. Real estate is noted to have lower actual returns than perceived once inflation is accounted for, with equity historically providing higher long-term growth. Life insurance is described as income protection rather than a means of wealth creation.
Get the most out of the NEW LinkedIn... until it changes... againJP Marketing | NE
LinkedIn has changed... in fact it has become a moving target and you need to understand how to leverage the new LinkedIn to your advantage. Learn about the new navigation bar, plus tips for creating and enhancing your profile and building your network. [Presentation given at the Enterprise Center, Salem State University, Salem MA]
Don't be dismayed by the slide count... simply download and use the search feature to target exactly what you're looking for.
NOTE: This is a high level overview.
Referrals and positive word-of-mouth are the most effective ways to build a network for prospective business opportunities, and LinkedIn is one of the most powerful tools available to you. See how LinkedIn can work for you and take home valuable tips for creating your profile and working your LinkedIn network for success. | Held at the Enterprise Center & Co-sponsored by MA Small Business Development Center.
[NOTE: This presentation leverages LinkedIn's soon to be obsolete profile view, hence some functionality will change with NEW profile view]
Social Media Marketing: For Your Business, Your Practice, YourselfJP Marketing | NE
7/22/16 - Professional Development Collaborative @CareerSource Cambridge
Savvy professionals use social media platforms to create a referral engine to network, confer with thought leaders, identify business collaborators, and mine for prospects. Referrals and positive word-of-mouth are the most effective ways to build a network for prospective business opportunities and employers. The new economy is all about networking and referrals. We are connected through an ecosystem of networks that, if used correctly, can multiply the effect of your business development or job search. A business “network” isn’t about how many people know your name; it’s about how many will send you opportunities.
With the demands of modern business, successful professionals, managers and executives must be as dynamic as the tools they use; 92% of employers are leveraging social media as part of their candidate search. And the majority of prospective clients will ‘GOOGLE’ a business or professional service provider before engaging. So whether you’re a business owner, startup, professional job seeker, or career changer, you’ll leave this workshop with tools and resources that you can implement immediately.
This workshop will cover:
• How to acquire new opportunities through online recommendations and word of mouth
• Keep in touch with people who care most about the services/products or skills you offer
• Build your industry network—online and in person
• Network with peers in your industry for repeat referrals
• Convince potential clients or employers of your expertise by sharing unique content; and
Grow Your Business on LinkedIn [Enterprise Center @SSU 6-8-16]JP Marketing | NE
Referrals and positive word-of-mouth are the most effective ways to build a network for prospective business opportunities and employers. The new economy is all about networking and referrals. We are connected through an ecosystem of networks that, if used correctly, can multiply the effect of your business development or job search. A business “network” isn’t about how many people know your name; it’s about how many will send you opportunities.
LinkedIn From The TOP - presented to ABLE AgeWorks [UPDATED]JP Marketing | NE
Did you know? It takes less than six seconds for an employer to review a job applicant’s profile and determine if a prospective candidate is worthy of future consideration.
With the demands of modern business, successful professionals, managers and executives must be as dynamic as the tools they use; 92% of employers are leveraging social media as part of their candidate search, and 87% say LinkedIn is the most important tool of choice. [UPDATED 4-14-16]
The document discusses how to build an effective LinkedIn profile. It notes that 94% of recruiters and hiring managers use LinkedIn to find candidates. With recruiters spending only 6 seconds scanning a profile, it is important to have a complete profile that stands out. The document provides tips on optimizing different parts of the profile, such as using a header image, writing a impactful keyword-rich summary, including accomplishments in the experience section, and using LinkedIn's advanced search and groups to build connections. The goal is to make job seekers findable and viewed as viable candidates by recruiters on LinkedIn.
Social Media and the Job Seeker Dos and Don'ts 11-16-15JP Marketing | NE
Overview of Social Media’s impact on job seeking
Major Dos and DON’Ts
The “Must Haves”
Best Practices
TAKE AWAYS
Practical Steps that can be implemented NOW to enhance your Online Presence
Reputation Management resources
Build & Nurture a Referral Network
A summer training project report presentation ondimpishah1989
This document summarizes a presentation on derivatives, specifically futures and options, given at JM Financial Services Ltd. It provides an overview of JM Financial as a large Indian broking firm, introduces various derivative products like forwards, futures, and options. It describes how futures and options are traded on exchanges, including details on contracts, expiration cycles, and pricing. It also outlines the three main types of derivative traders - hedgers who minimize risk, speculators who bet on market movements, and arbitrageurs who profit from pricing discrepancies. The conclusion emphasizes how derivatives allow participants to convert unlimited risks to limited ones and serve as risk management tools.
The daily derivatives outlook document provides a summary of analysis on the Nifty, Bank Nifty, USD/INR, and stock futures markets. It notes that the Nifty futures discount narrowed and open interest decreased, indicating short covering. Bank Nifty futures also saw a narrowing discount and decrease in open interest. USD/INR premium went down and open interest decreased due to long liquidation. Several stocks saw long buildup and short covering or reduction.
This document provides a macroeconomic overview from the perspective of hedge funds. It discusses various factors that hedge funds analyze, including fixed income, equities, macroeconomic data, correlation, and cash flows. Graphs show trends in US treasury yields, stock market correlations, and cash flows into mutual funds. The document also discusses long/short equity strategies and the importance of a fund having high alpha and low beta. It analyzes the performance of sample funds to determine whether their returns came more from alpha or beta.
The document provides an economic and market outlook for 2012, predicting that growth will bottom out in the first quarter of 2012 at 6% for India while inflation averages around 7%, and that monetary policy in India will start easing on the back of slowing growth and easing inflation. Globally, the outlook expects no recession in the US with growth around 2% and a tricky situation in Europe, while select emerging markets and exposure to crude oil, the US dollar, and select equities are recommended for investment.
The Nifty futures went into a marginal discount and Bank Nifty futures registered a small premium over spot due to negative news flow and short covering. Put buying was seen in the 5100 strike of Nifty as traders reduced positions. The equilibrium for Nifty remained around 5200 and for Bank Nifty between 10200 and 10300. Rollovers for Nifty were 59% and below 59% for some sectors like IT, capital goods, and power. The USD/INR equilibrium moved down to between 52.5-52.75 as 53 proved difficult to surpass before the settlement.
The document provides a market summary and analysis from Paycall Trading's Swing Trader Newsletter dated June 4, 2010. It discusses the positive performance of global markets, with the Sensex ending above 17,000 and Nifty closing at a two-week high, supported by strong global cues and short covering. Technical analysis identifies levels for the Nifty to watch. Specific stock recommendations are provided, identified as blockbuster, jackpot, and Paycall stocks based on technical factors like patterns and breakouts. A disclaimer notes this should not be considered solicitation and views may differ from Paycall Research.
The mutual fund industry in India saw a 1.5% decrease in assets under management in June 2012 due to large outflows from liquid funds. The overall industry witnessed outflows of Rs. 23,969 crore during the month. Indian equity markets closed higher at the end of June as global markets rallied after European leaders took action to address banking issues. Government bond yields declined over the month as liquidity improved in the banking system.
This document provides information about the IPO of Onelife Capital Advisors Ltd., including the price band, shareholding structure pre- and post-IPO, and financial details. It summarizes that Onelife is a loss-making financial services company planning an IPO to raise $7.48 million. While India's financial services sector has grown, the reviewer does not recommend subscribing to Onelife's IPO due to its losses, smaller size than peers, and expensive valuation relative to growth prospects and business risks.
The document discusses stock exchanges around the world and compares their performance over the last 5 years. It finds that while the Shanghai Stock Exchange historically outperformed the Bombay Stock Exchange, the BSE has seen better growth over the past 5 years due to factors like improved corporate profitability, more developed capital markets, and consumption-driven growth in India compared to China's export reliance. The relative strengths of the two exchanges are summarized and the effects on the global economy and India are discussed.
Current account convertibility refers to the freedom to convert a country's currency into foreign currencies for trade-related transactions like imports, exports, and investment income. Capital account convertibility extends this freedom to include converting a country's currency for financial transactions like purchasing foreign assets and securities. A country can have partial convertibility by allowing currency conversion for some current account transactions but maintaining controls over capital account transactions.
Chapter3International Finance ManagementPiyush Gaur
This document provides sample answers and solutions to end-of-chapter questions and problems about balance of payments. It discusses key concepts like defining the balance of payments, reasons for examining BOP data, causes of US and Japan's current account balances, how countries can have overall BOP surpluses or deficits, components of official reserve assets, and how various transactions are classified in a country's BOP. It also provides an example of constructing a BOP table for Japan in 2006 and interpreting the data.
The document discusses various investment and savings options for individuals, including their typical returns and risks. It provides statistics on household savings in India for 2013-14, showing the majority in currency and bank deposits, followed by investment in shares, debentures, mutual funds, and life insurance. The document advocates that equity investment through the stock market can be a means to multiply wealth over the long run through participation in a country's economic growth, but that individuals tend to be more conservative investors.
MF0015 - INTERNATIONAL FINANCIAL MANAGEMENTsmumbahelp
This document provides information about getting fully solved assignments. It instructs students to send their semester and specialization name to an email address or call a phone number to receive assistance with assignments. It then provides an example of an assignment question related to international financial management that covers topics like forward markets, interest rate parity, cash concentration strategies, and international taxation. The assignment asks students to answer 6 questions in approximately 400 words each and provides an evaluation scheme for each question.
The document discusses various investment options and their returns over time. It notes that investing Rs. 100,000 in 1979 would be worth over Rs. 5 million if invested in the stock market compared to Rs. 326,000-366,000 if invested in more conservative options like fixed deposits, public provident fund, or gold after adjusting for inflation. Real estate is noted to have lower actual returns than perceived once inflation is accounted for, with equity historically providing higher long-term growth. Life insurance is described as income protection rather than a means of wealth creation.
Get the most out of the NEW LinkedIn... until it changes... againJP Marketing | NE
LinkedIn has changed... in fact it has become a moving target and you need to understand how to leverage the new LinkedIn to your advantage. Learn about the new navigation bar, plus tips for creating and enhancing your profile and building your network. [Presentation given at the Enterprise Center, Salem State University, Salem MA]
Don't be dismayed by the slide count... simply download and use the search feature to target exactly what you're looking for.
NOTE: This is a high level overview.
Referrals and positive word-of-mouth are the most effective ways to build a network for prospective business opportunities, and LinkedIn is one of the most powerful tools available to you. See how LinkedIn can work for you and take home valuable tips for creating your profile and working your LinkedIn network for success. | Held at the Enterprise Center & Co-sponsored by MA Small Business Development Center.
[NOTE: This presentation leverages LinkedIn's soon to be obsolete profile view, hence some functionality will change with NEW profile view]
Social Media Marketing: For Your Business, Your Practice, YourselfJP Marketing | NE
7/22/16 - Professional Development Collaborative @CareerSource Cambridge
Savvy professionals use social media platforms to create a referral engine to network, confer with thought leaders, identify business collaborators, and mine for prospects. Referrals and positive word-of-mouth are the most effective ways to build a network for prospective business opportunities and employers. The new economy is all about networking and referrals. We are connected through an ecosystem of networks that, if used correctly, can multiply the effect of your business development or job search. A business “network” isn’t about how many people know your name; it’s about how many will send you opportunities.
With the demands of modern business, successful professionals, managers and executives must be as dynamic as the tools they use; 92% of employers are leveraging social media as part of their candidate search. And the majority of prospective clients will ‘GOOGLE’ a business or professional service provider before engaging. So whether you’re a business owner, startup, professional job seeker, or career changer, you’ll leave this workshop with tools and resources that you can implement immediately.
This workshop will cover:
• How to acquire new opportunities through online recommendations and word of mouth
• Keep in touch with people who care most about the services/products or skills you offer
• Build your industry network—online and in person
• Network with peers in your industry for repeat referrals
• Convince potential clients or employers of your expertise by sharing unique content; and
Grow Your Business on LinkedIn [Enterprise Center @SSU 6-8-16]JP Marketing | NE
Referrals and positive word-of-mouth are the most effective ways to build a network for prospective business opportunities and employers. The new economy is all about networking and referrals. We are connected through an ecosystem of networks that, if used correctly, can multiply the effect of your business development or job search. A business “network” isn’t about how many people know your name; it’s about how many will send you opportunities.
LinkedIn From The TOP - presented to ABLE AgeWorks [UPDATED]JP Marketing | NE
Did you know? It takes less than six seconds for an employer to review a job applicant’s profile and determine if a prospective candidate is worthy of future consideration.
With the demands of modern business, successful professionals, managers and executives must be as dynamic as the tools they use; 92% of employers are leveraging social media as part of their candidate search, and 87% say LinkedIn is the most important tool of choice. [UPDATED 4-14-16]
The document discusses how to build an effective LinkedIn profile. It notes that 94% of recruiters and hiring managers use LinkedIn to find candidates. With recruiters spending only 6 seconds scanning a profile, it is important to have a complete profile that stands out. The document provides tips on optimizing different parts of the profile, such as using a header image, writing a impactful keyword-rich summary, including accomplishments in the experience section, and using LinkedIn's advanced search and groups to build connections. The goal is to make job seekers findable and viewed as viable candidates by recruiters on LinkedIn.
Social Media and the Job Seeker Dos and Don'ts 11-16-15JP Marketing | NE
Overview of Social Media’s impact on job seeking
Major Dos and DON’Ts
The “Must Haves”
Best Practices
TAKE AWAYS
Practical Steps that can be implemented NOW to enhance your Online Presence
Reputation Management resources
Build & Nurture a Referral Network
Social Media Dos and Don’ts for the Job Seeker and Its Impact on Your Search ...JP Marketing | NE
** 6/9/15 Social Media Dos and Don’ts for the Job Seeker and Its Impact on Your Search. **
Social media has had a profound impact on job searching. And, it continues to evolve every day -¬‐ new players, new rules, and new opportunities. Judy Parisella will provide an insightful overview of social media’s impact on job seeking, and speak to the “must haves”, “Dos and Don’ts” and best practices in effectively using today’s social media. The intent of this session is to leave all attendees with practical steps that can be implemented immediately to move job search results forward.
(Presented at The Career Place, Woburn MA 6/9/15)
Social Media's Life and the JOB SEEKING
- Overview of Social Media’s impact on job seeking
- The “Must Haves”
- Best Practices
*** TAKE AWAYS ***
- Practical Steps that can be implemented NOW to enhance your Online Presence
- Reputation Management resources
- Build & Nurture a Referral Network
(Presentation Created for the Andover Networking Group)
Enhance your networking skills with a focus on LinkedInJP Marketing | NE
MDG Networking Event March 18, 2015
TOPIC: How to Effectively Network in
the 21st Century
Who should attend: Anyone who wants to better understand how to become a "Better Networker" when face to face with people and would like to learn how to "Effectively" use LinkedIn.
Since the wind-down of the Great Recession in early 2009, the latest economic expansion has certainly delivered the goods and rewarded investors’ mailboxes with six consecutive calendar years of positive gains for stocks. “Neither snow nor rain nor heat nor gloom of night” has kept a lid on the continuation of one of history’s greatest bull market advances for stocks, and LPL Financial Research believes this trend of rising equity prices may continue in 2015.
IMPORTANT DISCLOSURES
The opinions voiced in this material are for general information only and are not intended to provide or be construed as providing specific investment advice or recommendations for any individual security.
To determine which investments may be appropriate for you, consult your financial advisor prior to investing. All performance referenced is historical and is no guarantee of future results. All indexes are unmanaged and cannot be invested into directly.
Economic forecasts set forth may not develop as predicted, and there can be no guarantee that strategies promoted will be successful.
The Leading Economic Index (LEI) is an economic variable, such as private-sector wages, that tends to show the direction of future economic activity.
The Standard & Poor’s 500 Index is a capitalization-weighted index of 500 stocks designed to measure performance of the broad domestic economy through changes in the aggregate market value of 500 stocks representing all major industries.
The Barclays Aggregate Bond Index is an unmanaged market capitalization-weighted index of most intermediate-term U.S. traded investment-grade, fixed rate, non-convertible, and taxable bond market securities including government agency, corporate, mortgage-backed, and some foreign bonds.
NYSE Composite Index is an index that measure the performance of all stocks listed on the New York
Stock Exchange. The NYSE
Composite Index includes more than 1,900 stocks, of which over 1,500 are U.S. companies.
The Federal Open Market Committee (FOMC) is the branch of the Federal Reserve Board that determines the direction of monetary policy. The FOMC is composed of the board of governors, which has seven members, and five reserve bank presidents.
The Labor Market Conditions Index (LMCI) is a dynamic factor model of labor market indicators, which extracts the primary common variation from 19 labor market indicators. This tool was recently developed by the Federal Reserve.
Quantitative easing (QE) is a government monetary policy occasionally used to increase the money supply by buying government securities or other securities from the market. Quantitative easing increases the money supply by flooding financial institutions with capital in an effort to promote increased lending and liquidity.
Stocks Go From Great to Good as the Bull Turns FiveJP Marketing | NE
The end of this week will make it five years since the second most powerful bull market in post-WWII history began [Figure 1]. After five years, only the bull market that began on August 12, 1982 was stronger. It is not over yet. In fact, the bull market may be getting a second wind.
2013’s Top 10 Lessons for Investors from LPL Financial ResearchJP Marketing | NE
Each year that passes contains some wisdom for investors, but along with that wisdom can be some folly. 2013 was a year that bestowed an abundance of each on investors.
HIGHLIGHTS: The top 10 lessons of 2013 for investors need to be put into two categories: those that investors can take to heart as sound wisdom for the year to come, and those they should try to forget as they prepare for 2014.
Branding through social media - In Personal, Professional and Business Profiles
AGENDA
- What is Branding
- Why Social Media
- Branding Through Social Media
- Which Social Media Platforms – by the numbers
- Reputation Management
- Building the Profile
--- LinkedIn
--- Facebook
--- Twitter
* Monitor
--- YouTube
--- Pinterest
- Finding Content to Post
In 2013, many different forces will combine to influence the direction of the markets to follow the path of
least resistance leading to modest single-digit returns in the U.S. stock and bond markets.* The path for
the year may be set at the end of 2012, or in early 2013, as critical decisions are implemented: Details enclosed.
(Produced by LPL Research)
Social Media for The Job Seeker - Focus on LinkedInJP Marketing | NE
Social Media Profiles, Why Should They Matter? THINK ME 2.0! No Online presence? Your employability is diminished! You may even be considered 'invisible’! Now that would suk! Here’s a high level view of SOME things you could do to help make you visible!
11/1/12 - Election Poll Index reflected a modest further move toward Republican favored industries relative to those favored by Democrats, a move that began following the first Presidential debate.
This document discusses the importance of online reputation management and optimizing your LinkedIn profile. It notes that LinkedIn has over 175 million members from Fortune 500 companies and is the 26th most visited website. It emphasizes that your online profiles are the first impression for recruiters and hiring managers vetting candidates. The document provides tips for claiming and completing your LinkedIn profile, including using a professional photo, customizing your URL, adding relevant websites and skills, and joining groups to build your online influence and network.
STREETONOMICS: Exploring the Uncharted Territories of Informal Markets throug...sameer shah
Delve into the world of STREETONOMICS, where a team of 7 enthusiasts embarks on a journey to understand unorganized markets. By engaging with a coffee street vendor and crafting questionnaires, this project uncovers valuable insights into consumer behavior and market dynamics in informal settings."
"Does Foreign Direct Investment Negatively Affect Preservation of Culture in the Global South? Case Studies in Thailand and Cambodia."
Do elements of globalization, such as Foreign Direct Investment (FDI), negatively affect the ability of countries in the Global South to preserve their culture? This research aims to answer this question by employing a cross-sectional comparative case study analysis utilizing methods of difference. Thailand and Cambodia are compared as they are in the same region and have a similar culture. The metric of difference between Thailand and Cambodia is their ability to preserve their culture. This ability is operationalized by their respective attitudes towards FDI; Thailand imposes stringent regulations and limitations on FDI while Cambodia does not hesitate to accept most FDI and imposes fewer limitations. The evidence from this study suggests that FDI from globally influential countries with high gross domestic products (GDPs) (e.g. China, U.S.) challenges the ability of countries with lower GDPs (e.g. Cambodia) to protect their culture. Furthermore, the ability, or lack thereof, of the receiving countries to protect their culture is amplified by the existence and implementation of restrictive FDI policies imposed by their governments.
My study abroad in Bali, Indonesia, inspired this research topic as I noticed how globalization is changing the culture of its people. I learned their language and way of life which helped me understand the beauty and importance of cultural preservation. I believe we could all benefit from learning new perspectives as they could help us ideate solutions to contemporary issues and empathize with others.
OJP data from firms like Vicinity Jobs have emerged as a complement to traditional sources of labour demand data, such as the Job Vacancy and Wages Survey (JVWS). Ibrahim Abuallail, PhD Candidate, University of Ottawa, presented research relating to bias in OJPs and a proposed approach to effectively adjust OJP data to complement existing official data (such as from the JVWS) and improve the measurement of labour demand.
Falcon stands out as a top-tier P2P Invoice Discounting platform in India, bridging esteemed blue-chip companies and eager investors. Our goal is to transform the investment landscape in India by establishing a comprehensive destination for borrowers and investors with diverse profiles and needs, all while minimizing risk. What sets Falcon apart is the elimination of intermediaries such as commercial banks and depository institutions, allowing investors to enjoy higher yields.
Unlock Your Potential with NCVT MIS.pptxcosmo-soil
The NCVT MIS Certificate, issued by the National Council for Vocational Training (NCVT), is a crucial credential for skill development in India. Recognized nationwide, it verifies vocational training across diverse trades, enhancing employment prospects, standardizing training quality, and promoting self-employment. This certification is integral to India's growing labor force, fostering skill development and economic growth.
5 Tips for Creating Standard Financial ReportsEasyReports
Well-crafted financial reports serve as vital tools for decision-making and transparency within an organization. By following the undermentioned tips, you can create standardized financial reports that effectively communicate your company's financial health and performance to stakeholders.
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.
[4:55 p.m.] Bryan Oates
OJPs are becoming a critical resource for policy-makers and researchers who study the labour market. LMIC continues to work with Vicinity Jobs’ data on OJPs, which can be explored in our Canadian Job Trends Dashboard. Valuable insights have been gained through our analysis of OJP data, including LMIC research lead
Suzanne Spiteri’s recent report on improving the quality and accessibility of job postings to reduce employment barriers for neurodivergent people.
Decoding job postings: Improving accessibility for neurodivergent job seekers
Improving the quality and accessibility of job postings is one way to reduce employment barriers for neurodivergent people.
In a tight labour market, job-seekers gain bargaining power and leverage it into greater job quality—at least, that’s the conventional wisdom.
Michael, LMIC Economist, presented findings that reveal a weakened relationship between labour market tightness and job quality indicators following the pandemic. Labour market tightness coincided with growth in real wages for only a portion of workers: those in low-wage jobs requiring little education. Several factors—including labour market composition, worker and employer behaviour, and labour market practices—have contributed to the absence of worker benefits. These will be investigated further in future work.
The Universal Account Number (UAN) by EPFO centralizes multiple PF accounts, simplifying management for Indian employees. It streamlines PF transfers, withdrawals, and KYC updates, providing transparency and reducing employer dependency. Despite challenges like digital literacy and internet access, UAN is vital for financial empowerment and efficient provident fund management in today's digital age.
Optimizing Net Interest Margin (NIM) in the Financial Sector (With Examples).pdfshruti1menon2
NIM is calculated as the difference between interest income earned and interest expenses paid, divided by interest-earning assets.
Importance: NIM serves as a critical measure of a financial institution's profitability and operational efficiency. It reflects how effectively the institution is utilizing its interest-earning assets to generate income while managing interest costs.
Upanishads summary with explanations of each upnishad
LPL Research Portfolio compass 1-23-13
1. LPL FINANCIAL RESEARCH
Portfolio Compass
January 23, 2013
Navigating the Markets
Compass Changes
The Portfolio Compass provides a snapshot
of LPL Financial Research’s views on equity ƒƒ No changes.
& alternative asset classes, the equity
sectors, and fixed income. This biweekly Investment Takeaways
publication illustrates our current views
and will change as needed over a three- to ƒƒ Our near-term stock market view remains slightly cautious, given our Base
12-month time horizon. Case expectation for modest single-digit returns in 2013.*
ƒƒ We continue to favor economically sensitive (cyclical) sectors, including
Reading the Portfolio Compass
industrials, materials, and technology, over defensive sectors.
Fundamental, technical, and valuation
characteristics for each category are shown ƒƒ Our recently upgraded emerging markets (EM) view is based on a pickup
by colored squares. in China’s economy and our expectation that stimulus and the recent
Negative, neutral, or positive views are leadership transition favor better growth in 2013.
illustrated by a solid black bar positioned ƒƒ Higher yielding, fundamentally sound segments of the bond market such
over the color scale, while an outlined black
as high-yield and investment-grade corporate bonds remain attractive, but
bar with an arrow indicates change and
shows the previous view. we have tempered our return expectations.
Rationales for our views are provided ƒƒ We find municipal bonds among the more attractive high-quality bond
beneath each category. options but expect lower returns going forward.
ƒƒ We expect precious metals to benefit from the Federal Reserve’s (Fed)
super-accommodative monetary policy.
* PL Financial Research provided these forecasts based on: a
L ƒƒ The SP 500 Index broke out above strong resistance at 1474 last week,
low-single-digit earnings growth rate supported by modest share
buybacks combined with 2% dividend yields and little change in which set up a bullish price objective at 1500 – 1505 over the next three to
valuations for the SP 500. Please see our Outlook 2013 for details. five weeks. Support remains at 1425.
Broad Asset Class Views
LPL Financial Research’s views on stocks, bonds, cash, and alternatives are illustrated below. The positions of negative, neutral,
or positive are indicated by the solid black compass needle, while an outlined needle shows a previous view.
N e u t r al N e u t r al N e u t r al N e u t r al
i ve
i ve
i ve
i ve
Po s
Po s
Po s
Po s
N e ga t
N e ga t
N e ga t
N e ga t
i t i ve
i t i ve
i t i ve
i t i ve
Stocks Bonds Cash Alternatives
Member FINRA/SIPC
Page 1 of 7
2. PORTFOLIO COMPASS
Equity Alternative Asset Classes
Maintain Slightly Cautious U.S. Stock Market View Consistent with Base Case 2013 Outlook
ƒƒ Our near-term stock market view is slightly
Fundamentals
cautious, given our Base Case expectation
Technicals
Valuations
Negative
for modest single-digit returns in 2013.*
Positive
Neutral
ƒƒ Our improved EM view is driven by
early signs of a pickup in China, and our Large Growth n n n
expectation that stimulus and the recent
leadership transition should favor better Large Value n n n
growth in 2013. Favor growth over value for faster earnings growth in slow-growth economy, attractive valuations, and
our preference for non-financial cyclical sectors. Our capitalization views are fairly balanced.
ƒƒ Our large foreign view is neutral. While much
Style/Capitalization
of Europe is mired in recession, bold policy Mid Growth n n n
actions and valuations are supportive, and Mid Value n n n
the outlook in Japan has improved. Both the
Cautious stock market view and valuations offset cyclical tilt, relatively strong earnings outlook, and
MSCI EAFE and EM indexes have trailed the recent pickup in acquisition activity.
SP 500 so far this year.
Small Growth n n n
ƒƒ We continue to favor growth over value due
Small Value n n n
to growth’s tendency to outperform in slow-
growth environments and our preference Risk of increased stock market volatility and valuations temper our near-term view of small caps, which
slightly lagged mid and large caps in 2012, but are off to a good start in 2013.
for technology over financials. Growth
has lagged so far this year on technology U.S. Stocks n n n
underperformance, based on the Russell
Large Foreign n n n
3000 style indexes.
Small Foreign n n n
ƒƒ Our views are generally aligned across
Region
market cap, with a slight preference for Emerging Markets n n n
large and mid caps. In our 2013 Base Case Our upgraded EM view is based on a pickup in China’s economy and our expectation that stimulus and
scenario, we expect the market to favor the the recent leadership transition should favor better growth in 2013. Our large foreign view is neutral.
stability, lower valuations, and higher yields While much of Europe is mired in recession, bold policy actions and valuations are supportive, and the
outlook in Japan has improved.
offered by large caps.
REITs n n n
REITs
ƒƒ Our recently lowered energy commodity
view reflects price appreciation into the mid- Steady job growth, housing market helping, but interest rate risk and valuations temper enthusiasm.
$90s above what we see as fair value. Industrial Metals n n
ƒƒ We expect precious metals to benefit from the
Precious Metals n n
Fed’s super-accommodative monetary policy.
Commodities
Energy n n
Agricultural n n
Our still modest positive precious metals commodities view is based on the Fed’s expanded bond
All performance referenced herein is as of January 22, 2013, unless purchase programs, which should put pressure on the US dollar. We recently lowered our energy
otherwise noted. commodity view on price appreciation into the mid-$90s, above what we see as fair value. Our
* PL Financial Research provided these forecasts based on: a
L agriculture commodities view remains neutral, although grain supplies remain tight.
low-single-digit earnings growth rate supported by modest share
Non-Correlated Strategies
buybacks combined with 2% dividend yields and little change in
Other
valuations for the SP 500. Please see our Outlook 2013 for details. Favor distressed assets for volatile environment, long/short equity vehicles as market increasingly
rewards fundamentals, and merger-arbitrage/event-driven strategies on increased corporate activity.
Real Estate/REITs may result in potential illiquidity and there is no assurance the objectives of the program will be attained. The fast price swings of commodities will result in significant volatility in an
investor's holdings. International and emerging markets involve special risks such as currency fluctuation and political instability. The price of small and mid-cap stocks are generally more volatile than large cap
stocks. Value investments can perform differently from the market as a whole. They can remain undervalued by the market for long periods of time. Precious metal investing is subject to substantial fluctuation
and potential for loss. These securities may not be suitable for all investors. Alternative strategies may not be suitable for all investors and should be considered as an investment for the risk capital portion of
the investor’s portfolio. The strategies employed in the management of alternative investments may accelerate the velocity of potential losses. Stock investing may involve risk including loss of principal.
LPL Financial Member FINRA/SIPC Page 2 of 7
3. PORTFOLIO COMPASS
Equity Sectors
Favor Cyclical Sectors Consistent with Base Case 2013 Outlook
ƒƒ We favor cyclical sectors as 2013 gets
SP 500 Weight (%)
underway, consistent with our Base Case view
Fundamentals
in the Outlook 2013 publication, and continue to
Technicals
Valuations
under-emphasize defensive sectors.
Negative
Positive
Neutral
ƒƒ Our industrials view remains modestly
positive. We expect a pickup in business
spending in the months ahead, and a so-called Materials n n n 3.6
soft landing (7 – 8% growth) in China. Solid Super-accommodative Fed and better growth in China are supportive.
emerging market demand and low earnings
Energy n n n 11.2
expectations have helped the sector get off to
a strong start in 2013, despite prospects for Fed and China support offset by challenging supply-demand and regulatory environment.
defense spending cuts.
Industrials n n n 10.2
ƒƒ Our technology view remains modestly
Potential uptick in business spending post-fiscal cliff; Chinese growth outlook improving.
Cyclical
positive on a likely pickup in business
spending in 2013, powerful mobility trends, Consumer Discretionary n n n 11.6
huge cash hordes, and attractive valuations.
Soft holiday shopping season, higher taxes, and still rich valuations remain near-term headwinds.
ƒƒ We expect expanded Fed bond purchases and
Technology n n n 18.6
better growth in China to support materials.
ƒƒ Our financials view remains modestly Potential uptick in business spending, mobility trend, valuations, and cash hordes are supportive.
negative. Some encouraging signs have Financials n n n 15.7
emerged for the banks during the fourth
Still tough regulatory, interest rate environment, though some encouraging signs in Q4 earnings.
quarter earnings season, while sector
valuations are attractive. But the challenging Utilities n n n 3.4
regulatory and interest rate environment still
Higher dividend tax rates for higher earners, rich valuations, and interest rate risk cloud outlook.
leaves us cautious overall.
ƒƒ Higher dividend tax rates, the recent uptick Health Care n n n 12.2
Defensive
in interest rates, and the market’s preference Valuations and policy clarity are supportive; sector off to a strong start in 2013.
for cyclicals have led to telecom and utilities
Consumer Staples n n n 10.6
underperformance so far in 2013.
Margins have held up, but preference for cyclicals, valuations, and seasonals keep us cautious.
ƒƒ Health care warrants consideration for a more
positive view given policy clarity, attractive Telecommunications n n n 2.9
valuations, and improved relative performance.
Higher dividend tax rates, valuations, intensifying competition offset very attractive yields.
* For more detailed information, please refer to the quarterly Sector Strategy publication.
Because of their narrow focus, sector investing will be subject to greater volatility than investing more broadly across many sectors and companies.
LPL Financial Member FINRA/SIPC Page 3 of 7
4. PORTFOLIO COMPASS
Fixed Income
Focus on Higher Yielding Segments Due to Better Valuation and as Buffer Against Rise in Rates
ƒƒ We remain focused on intermediate bonds.
M ediu m I n t e r m e d ia t e
By committing to refrain from raising
interest rates until unemployment falls to
6.5%, intermediate maturity bonds may
t
L ong
H ig h
L ow
S h or
benefit from Fed policy as investors seek
higher yields amid a low-yield world.
ƒƒ A still-sluggish economy and uncertainty Credit Quality Duration
over the debt limit and scheduled sequester
spending cuts augur for a stable rate Credit yield spreads attractive; prefer corporate Expect short rates to stay low and the yield curve to
environment, which also favors intermediate bonds to government bonds. remain steep; favor intermediate maturities.
bonds that still possess a substantial yield
advantage relative to short-term bonds.
Fundamentals
Technicals
Valuations
Negative
Positive
Neutral
Munis – Short-term n n n
Muni curve is steep, and short-term yields are very low.
Munis – Intermediate-term n n n
Tax -Free Bonds
Higher tax rates a modest positive.
Munis – Long-term n n n
Valuations still attractive after 2012 improvement, but yields near record lows.
Munis – High-Yield n n n
Yield to be bigger driver of return. Defaults to remain isolated.
continued on next page
All bonds are subject to market and interest rate risk if sold prior to maturity. Bond values will decline as interest rates rise and are subject to availably and change in price. High-yield/junk
bonds are not investment-grade securities, involve substantial risks, and generally should be part of the diversified portfolio of sophisticated investors. Municipal interest income may be
subject to the alternative minimum tax. Federally tax-free but other state and local taxes may apply. Corporate bonds are considered higher risk than government bonds but normally offer a
higher yield and are subject to market, interest rate and credit risk as well as additional risks based on the quality of issuer coupon rate, price, yield, maturity, and redemption features.
LPL Financial Member FINRA/SIPC Page 4 of 7
5. PORTFOLIO COMPASS
Fixed Income (CONT.)
Focus on Higher Yielding Segments Due to Better Valuation and as Buffer Against Rise in Rates
ƒƒ Fed purchases of mortgage-backed securities
Fundamentals
amount to roughly 60% of new issuance and
Technicals
Valuations
Negative
should keep the sector well supported.
Positive
Neutral
ƒƒ Higher yielding, fundamentally sound segments
of the bond market such as high-yield bonds Treasuries n n n
and investment-grade corporate bonds remain
attractive, but we temper our enthusiasm due Treasuries cheapened recently but remain expensive.
to lower yields and higher valuations. TIPS n n n
ƒƒ Bank loans are becoming increasingly
Prefer to nominal Treasuries, as easy monetary policy is inflationary over time.
attractive due to a much narrower yield
differential to high-yield bonds. Mortgage-Backed Securities n n n
Taxable Bonds – U.S.
ƒƒ We continue to find municipal bonds among Currently most attractive government bond option. Stable yield range a positive.
the more attractive high-quality bond options, Investment-Grade Corporates n n n
but like corporate bonds, we expect much
lower returns going forward due to lower Yield spreads fair. Credit quality stable.
yields and now higher valuations. Preferred Securities n n n
ƒƒ The implementation of higher taxes bodes Good income generator. Bank credit quality improving.
well for municipal bonds but is offset by
High-Yield Corporates n n n
lingering risks of a 28% cap on the exemption
of municipal interest income. Defaults likely to be low in 2013 and stand out in low-yield world.
Bank Loans n n n
Increasingly attractive due to narrower yield gap to high-yield.
Foreign Bonds – Hedged n n n
Taxable Bonds – Foreign
Sovereign risks still a concern.
Foreign Bonds – Unhedged n n n
Low yields and euro currency risk a concern.
Emerging Market Debt n n n
Fundamentals and valuations still attractive after 2012 improvement.
All bonds are subject to market and interest rate risk if sold prior to maturity. Bond values will decline as interest rates rise and are subject to availably and change in price. High-yield/
junk bonds are not investment-grade securities, involve substantial risks, and generally should be part of the diversified portfolio of sophisticated investors. Mortgage-backed securities
are subject to credit, default risk, prepayment risk that acts much like call risk when you get your principal back sooner than the stated maturity, extension risk, the opposite of prepayment
risk, and interest rate risk. International and emerging market investing involves risks such as currency fluctuation and political instability and may not be suitable for all investors.
Bank loans are loans issued by below investment-grade companies for short term funding purposes with higher yield than short-term debt and involve risk. Treasury inflation-protected
securities (TIPS) help eliminate inflation risk to your portfolio as the principal is adjusted semiannually for inflation based on the Consumer Price Index - while providing a real rate of
return guaranteed by the U.S. government. Corporate bonds are considered higher risk than government bonds but normally offer a higher yield and are subject to market, interest rate and
credit risk as well as additional risks based on the quality of issuer coupon rate, price, yield, maturity and redemption features. Foreign Bonds – Hedged: Non-U.S. fixed income securities
generally from investment-grade issuers in developed countries, with hedged currency exposure. Foreign Bonds – Unhedged: Non-U.S. fixed income securities normally denominated in
major foreign currencies.
LPL Financial Member FINRA/SIPC Page 5 of 7
6. PORTFOLIO COMPASS
DEFINITIONS:
EQUITY AND ALTERNATIVES ASSET CLASSES
Large Growth: Stocks in the top 70% of the capitalization of the U.S. equity market are defined as Large Cap. Growth is defined based on fast growth (high growth rates for earnings,
sales, book value, and cash flow) and high valuations (high price ratios and low dividend yields).
Large Value: Stocks in the top 70% of the capitalization of the U.S. equity market are defined as Large Cap. Value is defined based on low valuations (low price ratios and high dividend
yields) and slow growth (low growth rates for earnings, sales, book value, and cash flow).
Mid Growth: The U.S. mid-cap range for market capitalization typically falls between $1 billion and $8 billion and represents 20% of the total capitalization of the U.S. equity market.
Growth is defined based on fast growth (high growth rates for earnings, sales, book value, and cash flow) and high valuations (high price ratios and low dividend yields).
Mid Value: The U.S. Mid Cap range for market capitalization typically falls between $1 billion and $8 billion and represents 20% of the total capitalization of the U.S. equity market. Value
is defined based on low valuations (low price ratios and high dividend yields) and slow growth (low growth rates for earnings, sales, book value, and cash flow).
Small Growth: Stocks in the bottom 10% of the capitalization of the U.S. equity market are defined as Small Cap. Growth is defined based on fast growth (high growth rates for earnings,
sales, book value, and cash flow) and high valuations (high price ratios and low dividend yields).
Small Value: Stocks in the bottom 10% of the capitalization of the U.S. equity market are defined as Small Cap. Value is defined based on low valuations (low price ratios and high
dividend yields) and slow growth (low growth rates for earnings, sales, book value, and cash flow).
U.S. Stocks: Stock of companies domiciled in the U.S.
Large Foreign: Large-cap foreign stocks have market capitalizations greater than $5 billion. The majority of the holdings in the large foreign category are in the MSCI EAFE Index.
Small Foreign: Small-cap foreign stocks typically have market capitalizations of $250M to $1B. The majority of the holdings in the small foreign category are in the MSCI Small Cap EAFE Index.
Emerging Markets: Stocks of a single developing country or a grouping of developing countries. For the most part, these countries are in Eastern Europe, Africa, the Middle East, Latin
America, the Far East and Asia.
REITs: REITs are companies that develop and manage real-estate properties. There are several different types of REITs, including apartment, factory-outlet, health-care, hotel, industrial,
mortgage, office, and shopping center REITs. This would also include real-estate operating companies.
Commodities – Industrial Metals: Stocks in companies that mine base metals such as copper, aluminum and iron ore. Also included are the actual metals themselves. Industrial metals
companies are typically based in North America, Australia, or South Africa.
Commodities – Precious Metals: Stocks of companies that do gold- silver-, platinum-, and base-metal-mining. Precious-metals companies are typically based in North America, Australia, or South Africa.
Commodities – Energy: Stocks of companies that focus on integrated energy, oil gas services, oil gas exploration and equipment. Public energy companies are typically based in North
America, Europe, the UK, and Latin America.
Merger Arbitrage is a hedge fund strategy in which the stocks of two merging companies are simultaneously bought and sold to create a riskless profit. A merger arbitrageur looks at
the risk that the merger deal will not close on time, or at all. Because of this slight uncertainty, the target company’s stock will typically sell at a discount to the price that the combined
company will have when the merger is closed. This discrepancy is the arbitrageur’s profit.
EQUITY SECTORS
Materials: Companies that engage in a wide range of commodity-related manufacturing. Included in this sector are companies that manufacture chemicals, construction materials, glass,
paper, forest products and related packaging products, metals, minerals and mining companies, including producers of steel.
Energy: Companies whose businesses are dominated by either of the following activities: The construction or provision of oil rigs, drilling equipment and other energy-related service and
equipment, including seismic data collection or the exploration, production, marketing, refining and/or transportation of oil and gas products, coal and consumable fuels.
Industrials: Companies whose businesses: Manufacture and distribute capital goods, including aerospace and defense, construction, engineering and building products, electrical
equipment and industrial machinery; provide commercial services and supplies, including printing, employment, environmental and office services; provide transportation services,
including airlines, couriers, marine, road and rail, and transportation infrastructure.
Consumer Discretionary: Companies that tend to be the most sensitive to economic cycles. Its manufacturing segment includes automotive, household durable goods, textiles and apparel, and
leisure equipment. The service segment includes hotels, restaurants and other leisure facilities, media production and services, consumer retailing and services and education services.
Technology: Companies that primarily develop software in various fields such as the Internet, applications, systems and/or database management and companies that provide information
technology consulting and services. Technology hardware equipment include manufacturers and distributors of communications equipment, computers and peripherals, electronic
equipment and related instruments, and semiconductor equipment and products.
Financials: Companies involved in activities such as banking, consumer finance, investment banking and brokerage, asset management, insurance and investment, and real estate, including REITs.
Utilities: Companies considered electric, gas or water utilities, or companies that operate as independent producers and/or distributors of power.
Health Care: Companies in two main industry groups: Healthcare equipment and supplies or companies that provide healthcare-related services, including distributors of healthcare
products, providers of basic healthcare services, and owners and operators of healthcare facilities and organizations or companies primarily involved in the research, development,
production and marketing of pharmaceuticals and biotechnology products.
Consumer Staples: Companies whose businesses are less sensitive to economic cycles. It includes manufacturers and distributors of food, beverages and tobacco, and producers of non-
durable household goods and personal products. It also includes food and drug retailing companies.
Telecommunications: Companies that provide communications services primarily through a fixed line, cellular, wireless, high bandwidth and/or fiber-optic cable network.
FIXED INCOME
Credit Quality: An individual bond’s credit rating is determined by private independent rating agencies such as Standard Poor’s, Moody’s and Fitch. Their credit quality designations
range from high (‘AAA’ to ‘AA’) to medium (‘A’ to ‘BBB’) to low (‘BB’, ‘B’, ‘CCC’, ‘CC’ to ‘C’).
Duration: A measure of the sensitivity of the price (the value of principal) of a fixed-income investment to a change in interest rates. Duration is expressed as a number of years. Rising
interest rates mean falling bond prices, while declining interest rates mean rising bond prices. The bigger the duration number, the greater the interest-rate risk or reward for bond prices.
LPL Financial Member FINRA/SIPC Page 6 of 7
7. PORTFOLIO COMPASS
Munis – Short-term: Bonds issued by various state and local governments to fund public projects. The income from these bonds is generally free from federal taxes. These bonds generally
have maturities of less than three years.
Munis – Intermediate: Bonds issued by various state and local governments to fund public projects. The income from these bonds is generally free from federal taxes. These bonds
generally have maturities of between 3 and 10 years.
Munis – Long-term: Bonds issued by various state and local governments to fund public projects. The income from these bonds is generally free from federal taxes. These bonds generally
have maturities of more than 10 years.
Munis – High-yield: Bonds issued by various state and local governments to fund public projects. The income from these bonds is generally free from federal taxes. These bonds generally
offer higher yields than other types of bonds, but they are also more vulnerable to economic and credit risk. These bonds are rated BB+ and below.
Treasuries: A marketable, fixed-interest U.S. government debt security. Treasury bonds make interest payments semi-annually and the income that holders receive is only taxed at the federal level.
TIPS (Treasury Inflation Protected Securities): A special type of Treasury note or bond that offers protection from inflation. Like other Treasuries, an inflation-indexed security pays interest every six
months and pays the principal when the security matures. The difference is that the underlying principal is automatically adjusted for inflation as measured by the consumer price index (CPI).
Mortgage-Backed Securities: A type of asset-backed security that is secured by a mortgage or collection of mortgages. These securities must also be grouped in one of the top two ratings as
determined by a accredited credit rating agency, and usually pay periodic payments that are similar to coupon payments. Furthermore, the mortgage must have originated from a regulated and
authorized financial institution.
Investment-Grade Corporates: Securities issued by corporations with a credit ratning of BBB- or higher. Bond rating firms, such as Standard Poor’s, use different designations consisting of upper- and
lower-case letters ‘A’ and ‘B’ to identify a bond’s investment-grade credit quality rating. ‘AAA’ and ‘AA’ (high credit quality) and ‘A’ and ‘BBB’ (medium credit quality) are considered investment-grade.
Preferred Stocks: A class of ownership in a corporation that has a higher claim on the assets and earnings than common stock. Preferred stock generally has a dividend that must be paid
out before dividends to common stockholders and the shares usually do not have voting rights.
High-Yield Corporates: Securities issued by corporations with a credit rating of BB+ and below. These bonds generally offer higher yields than investment-grade bonds, but they are also
more vulnerable to economic and credit risk.
Bank Loans: In exchange for their credit risk, these floating-rate bank loans offer interest payments that typically float above a common short-term benchmark such as the London
interbank offered rate, or LIBOR.
Foreign Bonds – Hedged: Non-U.S. fixed income securities generally from investment-grade issuers in developed countries, with hedged currency exposure.
Foreign Bonds – Unhedged: Non-U.S. fixed income securities normally denominated in major foreign currencies.
Emerging Market Debt: The debt of sovereigns, agencies, local issues, and corporations of emerging markets countries and subject to currency risk.
IMPORTANT DISCLOSURES
The opinions voiced in this material are for general information only and are not intended to provide or be construed as providing specific investment advice or recommendations for any
individual. To determine which investments may be appropriate for you, consult your financial advisor prior to investing. All performance referenced is historical and is no guarantee of
future results. All indexes are unmanaged and cannot be invested into directly.
Past performance is no guarantee of future results.
Stock investing involves risk including loss of principal.
The Standard Poor’s 500 Index is a capitalization-weighted index of 500 stocks designed to measure performance of the broad domestic economy through changes in the aggregate
market value of 500 stocks representing all major industries.
The MSCI Emerging Markets Index is a free float-adjusted market capitalization index that is designed to measure equity market performance of emerging markets. As of May 27, 2010
the MSCI Emerging Markets Index consisted of the following 21 emerging market country indices: Brazil, Chile, China, Colombia, Czech Republic, Egypt, Hungary, India, Indonesia, Korea,
Malaysia, Mexico, Morocco, Peru, Philippines, Poland, Russia, South Africa, Taiwan, Thailand, and Turkey.
The Russell 1000 Index consists of the 1,000 largest securities in the Russell 3000 Index, which represents 90% of the total market capitalization of the Russell 3000 Index. It is a large-
cap, market oriented index and is highly correlated with the SP 500 Index.
The Russell 2500 Index is a broad index featuring 2,500 stocks that cover the small and mid cap market capitalizations. The Russell 2500 is a market cap weighted index that includes the
smallest 2,500 companies covered in the Russell 3000 universe of United States-based listed equities.
The Russell 3000 Index measures the performance of the 3,000 largest U.S. companies based on total market capitalization, which represents approximately 98% of the investable U.S.
equity market. As of the latest reconstitution, the average market capitalization was approximately $4 billion; the median market capitalization was approximately $700 million. The index
had a total market capitalization range of approximately $309 billion to $128 million.
This research material has been prepared by LPL Financial.
To the extent you are receiving investment advice from a separately registered independent investment advisor, please note that LPL Financial is not
an affiliate of and makes no representation with respect to such entity.
Not FDIC or NCUA/NCUSIF Insured | No Bank or Credit Union Guarantee | May Lose Value | Not Guaranteed by any Government Agency | Not a Bank/Credit Union Deposit
Member FINRA/SIPC
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