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The document discusses concepts related to investment including definitions of investment, speculation, and gambling. It defines investment as the employment of funds on assets with the aim of earning income or capital appreciation over time while accepting risk. Speculation is described as short-term trading of securities in hopes of profiting from price changes, while gambling relies solely on chance. The document also outlines the investment process, constraints that impact investment decisions, and different investment strategies such as active versus passive portfolio strategies.
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Portfolio const & evaluation
Here are the performance evaluations of funds A, B, C and D using Sharpe, Treynor and Jensen techniques:
Sharpe Ratio:
A = (12%-4%)/20 = 0.4
B = (12%-4%)/18 = 0.44
C = (8%-4%)/22 = 0.18
D = (9%-4%)/24 = 0.17
Treynor Ratio:
A = (12%-4%)/0.97 = 0.8
B = (12%-4%)/1.17 = 0.8
C = (8%-4%)/1.22 = 0.4
D = (
Portfolio construction
1) Portfolio construction involves blending different asset classes like stocks, bonds, and cash to obtain returns while minimizing risk through diversification.
2) There are two main approaches - the traditional approach selects securities to meet an investor's needs, while the Markowitz efficient frontier approach constructs portfolios that maximize expected return for a given level of risk.
3) The Markowitz model helps investors reduce risk by choosing securities whose returns do not move together, identifying the efficient frontier of portfolio options, and allowing investors to select the portfolio with the highest return for a given risk level.
Investment analysis
The document discusses key concepts for investment analysis and project selection, including:
1) Projects should yield a return greater than the minimum hurdle rate, which is higher for riskier projects. Returns should consider cash flows, timing, and side effects.
2) The optimal financing mix minimizes the hurdle rate and matches the assets financed.
3) If not enough high-returning investments exist, excess cash should be returned to stockholders.
investment analysis_and_portfolio_management
The document outlines an investment analysis and portfolio management syllabus. It includes 7 units that cover topics such as investment concepts and goals, financial investment avenues, investment analysis approaches, portfolio construction and choice, capital asset pricing models, and portfolio performance measures. The syllabus aims to teach students about analyzing investments, constructing diversified portfolios to optimize risk and return, and evaluating portfolio performance over time.
Sapm
The document discusses security analysis and portfolio management. It defines key terms like securities, security analysis, portfolio, and portfolio management. Security analysis involves analyzing the economy, industry, and company to project future earnings and dividends. A portfolio is a combination of different securities with varying risk-return profiles. Portfolio management includes tasks like portfolio construction, evaluation, and monitoring performance. The document provides an overview of these fundamental concepts in finance.
10 The Investment Environment - PART 2
The presentation covers topics like Investment and Speculation, Investment and Gambling, Investment Management Process, Types of Speculators, Technical Analysis and Fundamental Analysis, Concept of Risk and Return
6. portfolio revision
This document discusses different approaches to portfolio management, including passive and active management. It describes passive management as a buy-and-hold strategy that aims to match overall market returns by investing in a broad market index. Active management aims to outperform the market by selecting stocks believed to have the best prospects. The document also discusses formula plans, which provide rules for allocating funds between stocks and bonds based on market conditions, and for buying and selling securities based on price changes.
Speculation vs investment
Investment involves sacrificing current consumption for future benefits through purchasing assets that are not necessarily marketable in the short term. It is a well-thought process that considers risk and expected return. Speculation, on the other hand, does not guarantee return of principal and involves purchasing assets with the goal of profiting from short-term price changes rather than long-term growth. Speculators are more focused on insider information and market trends over stable income generation. Overall, investment is a longer-term commitment while speculation aims to profit from price volatility in a short time period.
Recommended
Portfolio const & evaluation
Here are the performance evaluations of funds A, B, C and D using Sharpe, Treynor and Jensen techniques:
Sharpe Ratio:
A = (12%-4%)/20 = 0.4
B = (12%-4%)/18 = 0.44
C = (8%-4%)/22 = 0.18
D = (9%-4%)/24 = 0.17
Treynor Ratio:
A = (12%-4%)/0.97 = 0.8
B = (12%-4%)/1.17 = 0.8
C = (8%-4%)/1.22 = 0.4
D = (
Portfolio construction
1) Portfolio construction involves blending different asset classes like stocks, bonds, and cash to obtain returns while minimizing risk through diversification.
2) There are two main approaches - the traditional approach selects securities to meet an investor's needs, while the Markowitz efficient frontier approach constructs portfolios that maximize expected return for a given level of risk.
3) The Markowitz model helps investors reduce risk by choosing securities whose returns do not move together, identifying the efficient frontier of portfolio options, and allowing investors to select the portfolio with the highest return for a given risk level.
Investment analysis
The document discusses key concepts for investment analysis and project selection, including:
1) Projects should yield a return greater than the minimum hurdle rate, which is higher for riskier projects. Returns should consider cash flows, timing, and side effects.
2) The optimal financing mix minimizes the hurdle rate and matches the assets financed.
3) If not enough high-returning investments exist, excess cash should be returned to stockholders.
investment analysis_and_portfolio_management
The document outlines an investment analysis and portfolio management syllabus. It includes 7 units that cover topics such as investment concepts and goals, financial investment avenues, investment analysis approaches, portfolio construction and choice, capital asset pricing models, and portfolio performance measures. The syllabus aims to teach students about analyzing investments, constructing diversified portfolios to optimize risk and return, and evaluating portfolio performance over time.
Sapm
The document discusses security analysis and portfolio management. It defines key terms like securities, security analysis, portfolio, and portfolio management. Security analysis involves analyzing the economy, industry, and company to project future earnings and dividends. A portfolio is a combination of different securities with varying risk-return profiles. Portfolio management includes tasks like portfolio construction, evaluation, and monitoring performance. The document provides an overview of these fundamental concepts in finance.
10 The Investment Environment - PART 2
The presentation covers topics like Investment and Speculation, Investment and Gambling, Investment Management Process, Types of Speculators, Technical Analysis and Fundamental Analysis, Concept of Risk and Return
6. portfolio revision
This document discusses different approaches to portfolio management, including passive and active management. It describes passive management as a buy-and-hold strategy that aims to match overall market returns by investing in a broad market index. Active management aims to outperform the market by selecting stocks believed to have the best prospects. The document also discusses formula plans, which provide rules for allocating funds between stocks and bonds based on market conditions, and for buying and selling securities based on price changes.
Speculation vs investment
Investment involves sacrificing current consumption for future benefits through purchasing assets that are not necessarily marketable in the short term. It is a well-thought process that considers risk and expected return. Speculation, on the other hand, does not guarantee return of principal and involves purchasing assets with the goal of profiting from short-term price changes rather than long-term growth. Speculators are more focused on insider information and market trends over stable income generation. Overall, investment is a longer-term commitment while speculation aims to profit from price volatility in a short time period.
Portfolio analysis
This document summarizes a seminar on portfolio analysis presented to a professor. It discusses key concepts related to portfolio analysis including diversification, asset allocation, risk analysis, systematic and unsystematic risk, and risk management. It provides definitions and explanations of these terms. The document also outlines the contents, introduction, advantages and disadvantages of portfolio analysis.
1. introduction to portfolio management
This document discusses traditional and modern approaches to portfolio construction. The traditional approach involves determining objectives, analyzing investor constraints like income needs and liquidity, determining the objective such as current income or capital appreciation, and selecting securities and their weights to minimize risk and maximize return. It involves four to six steps including analyzing constraints, determining objectives, selecting the portfolio, and considering factors like asset mix, growth, capital appreciation, safety, and diversification. The modern approach exemplified by Markowitz focuses more on risk and return analysis to minimize risk and maximize profit without considering individual needs.
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Investment & Portfolio Management Booklet
This document provides an overview of investment and portfolio management. It defines active and passive portfolio management, with active involving regular trades based on analysis and passive involving buying indexes or funds. It then lists some objectives of the publication, which are to provide understanding of investment and portfolio management concepts for students and professionals. Finally, it gives definitions of some key terms used in investment and portfolio management like assets, managers, and mutual funds.
Investment vs speculation
The document discusses the key differences between investment and speculation. Investment involves sacrificing current consumption for future benefits, with decisions made through a thoughtful process based on risk and expected return. It may involve assets that are not immediately marketable. Speculation, on the other hand, does not guarantee return of the initial investment and is usually done with the goal of profiting from short-term price changes. While investment carries small and predictable risk, speculation involves large and uncertain risk based on factors like insider trading.
Meaning of Investment
The document discusses the key concepts of investment. It defines investment as committing funds with the expectation of a positive return, where the return is proportional to the assumed risk. Investment involves using capital to generate a safe return over time through instruments that promise certain or uncertain future returns. The document contrasts investment with speculation and gambling, noting their different risk levels, return expectations, and decision-making bases. It also outlines different types of investors, features of investment programs, factors to consider in investment analysis and decision making, and various investment avenues and their characteristics.
09 The Investment Environment - Part 1
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This document contains lecture slides from a finance course. It discusses various topics related to investments including the investment environment, securities analysis, derivatives, mutual funds and other investment alternatives. It also provides an overview of the securities market and different types of markets. The key points are:
1) The syllabus covers topics like investment environment, securities analysis, derivatives, mutual funds and other investment concepts.
2) It introduces the securities market and its different segments like the equity, debt, derivatives and money markets.
3) The slides explain concepts like primary and secondary markets, stock exchanges, and their role in facilitating trading and bringing liquidity to securities.
Investment and speculation
This document discusses the key differences between investment and speculation. Investment involves committing money for long-term gains with low to moderate risk and returns based on fundamentals. Speculation involves short-term, high risk bets with potential for high returns based on market psychology. The document also outlines the traditional two-step investment decision process of security analysis and portfolio management to evaluate individual assets and construct a balanced portfolio.
Introduction portfolio management
noorulhadi Lecturer at Govt College of Management Sciences, noorulhadi99@yahoo.com
i have prepared these slides and still using in mylectures, Reference: Portfolio management by S kevin and online sources
Portfolio analysis
This document discusses portfolio analysis and security analysis. It defines portfolio analysis as determining the future risk and return of holding various combinations of individual securities. Portfolio analysis involves diversifying investments across different assets, industries, and companies to reduce non-systematic risk. The document contrasts traditional portfolio analysis, which focuses on lowest risk securities, with modern portfolio theory, which emphasizes combining high and low risk securities to maximize returns at a given level of risk. Key aspects of portfolio analysis include calculating expected returns, variance, and the standard deviation and beta of a portfolio to measure risk. Diversification is presented as an important tool to reduce unsystematic risk.
Investment planning
The document provides an agenda for an investment planning tutorial covering key topics including calculating investment returns, measuring risk, and time value of money concepts. It outlines different return types and calculations, risk measurement techniques, and annuity formulas. Various risk sources and measuring risk tolerance are also discussed. Excel tutorials are available to demonstrate return calculations using sample investment value data over six years.
Investment management
This document discusses investment management. It defines investment as committing funds with an expectation of positive return. The two main forms of investment are real investments in assets like land and machinery, and financial investments in contracts. Investment management aims to meet clients' investment goals through activities like asset allocation, portfolio strategy, and monitoring holdings. It also coordinates investments with other financial planning. Risk and return are important considerations in investment decisions, as there is generally a tradeoff between higher risk and higher potential returns.
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This document appears to be a student project report on analyzing investment decisions. It includes sections on declaring that the work is original, an abstract summarizing the project, acknowledgements of those who helped with the project, a table of contents, and an introduction on investment decisions and types of investment options. The report will analyze and compare different investment options such as equities, bonds, gold, mutual funds, real estate, and life insurance on parameters like returns, safety, liquidity, and risk over a 5 year period. It aims to help investors understand various options and choose investments suited to their goals and risk tolerance.
An introduction to investment
Investment involves committing funds with the aim of achieving additional income or growth in value over time. It is characterized by risk, return, safety, liquidity, and tax benefits. The key aspects are committing funds for a future reward, an expectation of returns higher than realized returns due to uncertainty, and balancing risk and return based on one's objectives and capacity. Investment aims to maximize returns while minimizing risk through prudent analysis, whereas speculation takes greater risks seeking short-term capital gains.
The investment environment
This document discusses different types of investments and the investment environment. It defines investment in both economic and finance terms and outlines key concepts like direct vs indirect investment, equity vs debt investment, and short vs long term investment. The document also covers different types of securities like stocks, bonds, derivatives, and more high or low risk options. Overall, the document provides an overview of various investment vehicles and considerations within the investment environment.
investment
1. The document provides an introduction to investments, discussing key concepts like primary and secondary markets, securities, and the objectives and process of investment.
2. It defines investment as the commitment of money or resources with the goal of earning future benefits. Individuals invest by saving money instead of spending it currently to gain larger consumption later.
3. The main objectives of investment are increasing returns, reducing risk, and providing liquidity, protection against inflation, and safety of capital. The investment process involves formulating a policy, analyzing opportunities, valuing assets, constructing a diversified portfolio, and regularly evaluating performance.
Investment management
Investment management is a generic term that most commonly refers to the buying and selling of investments within a portfolio. Investment management can also include banking and budgeting duties, as well as taxes. The term most often refers to portfolio management and the trading of securities to achieve a specific investment objective.
Investment management – also referred to as money management, portfolio management or private banking – covers the professional management of different securities and assets, such as bonds, shares, real estate and other securities. Proper investment management aims to meet particular investment goals for the benefit of the investors. These investors may be individual investors – referred to as private investors – who have built investment contracts with fund managers, or institutional investors who may be pension fund corporations, governments, educational establishments or insurance companies.
Investment management services provide asset allocation, financial statement analysis, stock selection, monitoring of existing investments and plan implementation.
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Investment management refers to handling financial assets by buying and selling them to achieve investment objectives over short or long term time horizons. It involves devising investment strategies, managing investment portfolios, and providing additional services like banking, budgeting, and taxes. The main goals of investment are safety of principal, income generation, growth, and maintaining liquidity. Common types of investments include stocks, bonds, and cash equivalents. The investment process involves assessing one's financial situation, setting objectives, allocating assets, selecting strategies, and ongoing monitoring.
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The document provides an introduction to investment and portfolio management. It defines key terms like individual investor, investment, economic investment, and financial investment. It discusses the different objectives of investment such as financial objectives, personal objectives, and objectives based on the investor's approach like short-term vs long-term priorities. It also covers the concepts of portfolio, the investment process of setting policies, analyzing investments, creating a diversified portfolio, revising it over time, and evaluating performance. It distinguishes between investment and speculation.
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This document summarizes a seminar on portfolio analysis presented to a professor. It discusses key concepts related to portfolio analysis including diversification, asset allocation, risk analysis, systematic and unsystematic risk, and risk management. It provides definitions and explanations of these terms. The document also outlines the contents, introduction, advantages and disadvantages of portfolio analysis.
1. introduction to portfolio management
This document discusses traditional and modern approaches to portfolio construction. The traditional approach involves determining objectives, analyzing investor constraints like income needs and liquidity, determining the objective such as current income or capital appreciation, and selecting securities and their weights to minimize risk and maximize return. It involves four to six steps including analyzing constraints, determining objectives, selecting the portfolio, and considering factors like asset mix, growth, capital appreciation, safety, and diversification. The modern approach exemplified by Markowitz focuses more on risk and return analysis to minimize risk and maximize profit without considering individual needs.
Investment strategies of famous investment gurus
This document summarizes the investment strategies of several famous investors including Benjamin Graham, Peter Lynch, Warren Buffett, David Dreman, John Neff, Kenneth Fisher, Martin Zweig, Joel Greenblatt, Joseph Piotroski, and James O'Shaughnessy. It describes the key aspects of each of their strategies such as focusing on value, price/earnings ratios, earnings growth rates, contrarian approaches, and blending growth and value styles.
Investment & Portfolio Management Booklet
This document provides an overview of investment and portfolio management. It defines active and passive portfolio management, with active involving regular trades based on analysis and passive involving buying indexes or funds. It then lists some objectives of the publication, which are to provide understanding of investment and portfolio management concepts for students and professionals. Finally, it gives definitions of some key terms used in investment and portfolio management like assets, managers, and mutual funds.
Investment vs speculation
The document discusses the key differences between investment and speculation. Investment involves sacrificing current consumption for future benefits, with decisions made through a thoughtful process based on risk and expected return. It may involve assets that are not immediately marketable. Speculation, on the other hand, does not guarantee return of the initial investment and is usually done with the goal of profiting from short-term price changes. While investment carries small and predictable risk, speculation involves large and uncertain risk based on factors like insider trading.
Meaning of Investment
The document discusses the key concepts of investment. It defines investment as committing funds with the expectation of a positive return, where the return is proportional to the assumed risk. Investment involves using capital to generate a safe return over time through instruments that promise certain or uncertain future returns. The document contrasts investment with speculation and gambling, noting their different risk levels, return expectations, and decision-making bases. It also outlines different types of investors, features of investment programs, factors to consider in investment analysis and decision making, and various investment avenues and their characteristics.
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security analysis and investment management
This document contains lecture slides from a finance course. It discusses various topics related to investments including the investment environment, securities analysis, derivatives, mutual funds and other investment alternatives. It also provides an overview of the securities market and different types of markets. The key points are:
1) The syllabus covers topics like investment environment, securities analysis, derivatives, mutual funds and other investment concepts.
2) It introduces the securities market and its different segments like the equity, debt, derivatives and money markets.
3) The slides explain concepts like primary and secondary markets, stock exchanges, and their role in facilitating trading and bringing liquidity to securities.
Investment and speculation
This document discusses the key differences between investment and speculation. Investment involves committing money for long-term gains with low to moderate risk and returns based on fundamentals. Speculation involves short-term, high risk bets with potential for high returns based on market psychology. The document also outlines the traditional two-step investment decision process of security analysis and portfolio management to evaluate individual assets and construct a balanced portfolio.
Introduction portfolio management
noorulhadi Lecturer at Govt College of Management Sciences, noorulhadi99@yahoo.com
i have prepared these slides and still using in mylectures, Reference: Portfolio management by S kevin and online sources
Portfolio analysis
This document discusses portfolio analysis and security analysis. It defines portfolio analysis as determining the future risk and return of holding various combinations of individual securities. Portfolio analysis involves diversifying investments across different assets, industries, and companies to reduce non-systematic risk. The document contrasts traditional portfolio analysis, which focuses on lowest risk securities, with modern portfolio theory, which emphasizes combining high and low risk securities to maximize returns at a given level of risk. Key aspects of portfolio analysis include calculating expected returns, variance, and the standard deviation and beta of a portfolio to measure risk. Diversification is presented as an important tool to reduce unsystematic risk.
Investment planning
The document provides an agenda for an investment planning tutorial covering key topics including calculating investment returns, measuring risk, and time value of money concepts. It outlines different return types and calculations, risk measurement techniques, and annuity formulas. Various risk sources and measuring risk tolerance are also discussed. Excel tutorials are available to demonstrate return calculations using sample investment value data over six years.
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This document discusses investment management. It defines investment as committing funds with an expectation of positive return. The two main forms of investment are real investments in assets like land and machinery, and financial investments in contracts. Investment management aims to meet clients' investment goals through activities like asset allocation, portfolio strategy, and monitoring holdings. It also coordinates investments with other financial planning. Risk and return are important considerations in investment decisions, as there is generally a tradeoff between higher risk and higher potential returns.
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This document appears to be a student project report on analyzing investment decisions. It includes sections on declaring that the work is original, an abstract summarizing the project, acknowledgements of those who helped with the project, a table of contents, and an introduction on investment decisions and types of investment options. The report will analyze and compare different investment options such as equities, bonds, gold, mutual funds, real estate, and life insurance on parameters like returns, safety, liquidity, and risk over a 5 year period. It aims to help investors understand various options and choose investments suited to their goals and risk tolerance.
An introduction to investment
Investment involves committing funds with the aim of achieving additional income or growth in value over time. It is characterized by risk, return, safety, liquidity, and tax benefits. The key aspects are committing funds for a future reward, an expectation of returns higher than realized returns due to uncertainty, and balancing risk and return based on one's objectives and capacity. Investment aims to maximize returns while minimizing risk through prudent analysis, whereas speculation takes greater risks seeking short-term capital gains.
The investment environment
This document discusses different types of investments and the investment environment. It defines investment in both economic and finance terms and outlines key concepts like direct vs indirect investment, equity vs debt investment, and short vs long term investment. The document also covers different types of securities like stocks, bonds, derivatives, and more high or low risk options. Overall, the document provides an overview of various investment vehicles and considerations within the investment environment.
investment
1. The document provides an introduction to investments, discussing key concepts like primary and secondary markets, securities, and the objectives and process of investment.
2. It defines investment as the commitment of money or resources with the goal of earning future benefits. Individuals invest by saving money instead of spending it currently to gain larger consumption later.
3. The main objectives of investment are increasing returns, reducing risk, and providing liquidity, protection against inflation, and safety of capital. The investment process involves formulating a policy, analyzing opportunities, valuing assets, constructing a diversified portfolio, and regularly evaluating performance.
Investment management
Investment management is a generic term that most commonly refers to the buying and selling of investments within a portfolio. Investment management can also include banking and budgeting duties, as well as taxes. The term most often refers to portfolio management and the trading of securities to achieve a specific investment objective.
Investment management – also referred to as money management, portfolio management or private banking – covers the professional management of different securities and assets, such as bonds, shares, real estate and other securities. Proper investment management aims to meet particular investment goals for the benefit of the investors. These investors may be individual investors – referred to as private investors – who have built investment contracts with fund managers, or institutional investors who may be pension fund corporations, governments, educational establishments or insurance companies.
Investment management services provide asset allocation, financial statement analysis, stock selection, monitoring of existing investments and plan implementation.
Investment management
Investment management refers to handling financial assets by buying and selling them to achieve investment objectives over short or long term time horizons. It involves devising investment strategies, managing investment portfolios, and providing additional services like banking, budgeting, and taxes. The main goals of investment are safety of principal, income generation, growth, and maintaining liquidity. Common types of investments include stocks, bonds, and cash equivalents. The investment process involves assessing one's financial situation, setting objectives, allocating assets, selecting strategies, and ongoing monitoring.
Unit 1 introduction to investment & portfolio management
The document provides an introduction to investment and portfolio management. It defines key terms like individual investor, investment, economic investment, and financial investment. It discusses the different objectives of investment such as financial objectives, personal objectives, and objectives based on the investor's approach like short-term vs long-term priorities. It also covers the concepts of portfolio, the investment process of setting policies, analyzing investments, creating a diversified portfolio, revising it over time, and evaluating performance. It distinguishes between investment and speculation.
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Unit 1 introduction to investment & portfolio management
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Industrial marketing
1. Industrial marketing involves marketing products and services to business organizations like manufacturers, hospitals, and distributors. It focuses on identifying and satisfying the needs of commercial customers rather than individual consumers.
2. Key differences between industrial and consumer marketing include industrial markets being more geographically concentrated with fewer but more involved buyers, a focus on technical performance and customized products over standardized goods, and importance placed on services and availability.
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An Introduction to Services Marketing
An Introduction to Services MarketingWe Learn - A Continuous Learning Forum from Welingkar's Distance Learning Program.
In this slide presentation know about “Services Marketing”, which is an integral part of even the developed economies. The developed economies thus called as service economies reveal that the service sector accounts for more employment, contribution in GDP and more consumption than manufactured goods.
To know more about Welingkar School’s Distance Learning Program and courses offered, visit:
http://www.welingkaronline.org/distance-learning/online-mba.html
This Slideshare is the sole Property of the Welingkar School of Distance Learning – Reproduction of this material , without prior consent, either wholly or partially will be treated as a violation of copyright.
Services marketing
This document discusses key aspects of services marketing. It begins by outlining reasons for the growth of the services sector such as technological advances, globalization, and changing lifestyles. It then covers several topics related to services marketing including:
1. Characteristics that make services different than goods such as intangibility, inseparability, inconsistency, and perishability.
2. The importance of people in service delivery and strategies for recruitment, training, motivation, and empowerment of employees.
3. The concept of a "service encounter" where customers interact with service providers.
4. Dimensions of service quality and models for understanding gaps between customer expectations and actual service delivery.
Industrial relations
Industrial relations encompass employment relationships and interactions between management and employees or among employees. There are various approaches to defining and analyzing industrial relations, including institutional, social psychology, and class-based definitions. Theories also examine factors like human resource management, employment relations, and the objectives and nature of industrial relations. Unions, management, and government all play important roles in industrial relations systems.
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The document summarizes key aspects of industrial marketing research including:
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2) The scope includes market potential development, market share analysis, sales analysis, forecasting, competitor analysis, and benchmarking.
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2) It introduces the services marketing triangle and expanded 7Ps marketing mix framework for services.
3) It discusses models for understanding service quality like the gaps model and challenges in consumer behavior related to services like higher perceived risk and difficulty evaluating service alternatives.
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The document discusses investment and the investment process. It defines investment as committing funds with the expectation of a positive return. The main characteristics of investment are return, risk, safety, and liquidity. The objectives of investment are maximizing return, minimizing risk, maintaining liquidity, hedging against inflation, and increasing safety. The investment process involves framing an investment policy, analyzing opportunities, valuing assets, constructing a portfolio, and evaluating performance.
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Security-Analysis-and-Portfolo-Management-Unit-1-Dr-Asma-Khan.pptx
This document provides an introduction to investments, including definitions, objectives of investment, types of investments, and characteristics of investments. It defines investment as committing funds with the goal of deriving future income or appreciation. The main objectives are future consumption, hedging against inflation, and compensation for sacrifice, inflation, and risk. Investments are categorized as growth investments like shares and property, which aim for capital appreciation, and defensive investments like cash and fixed interest, which prioritize income stability and safety of principal.
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This document provides an introduction to investment and securities. It defines key terms like investment, speculation, and different types of securities. The main points covered are:
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1. The document discusses various topics related to security analysis and portfolio management including different types of financial markets and investment instruments, risk and return associated with investments, and the difference between investment and speculation.
2. It provides learning objectives about understanding financial markets and instruments, analyzing risk and return, and preparing financial plans for individual investors.
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Investing involves deploying capital toward projects or assets that are expected to generate a positive return over time. There are various types of investments including stocks, bonds, mutual funds, real estate, and more. Each investment carries different levels of risk and potential return. Investors can manage their own portfolios or hire professionals to do so. Starting small with as little as $1,000 allows people to begin growing their money through long-term investing.
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The Investec Opportunity Fund aims to produce dependable inflation-beating returns while minimizing the risk of capital loss. It uses a multi-asset approach investing in equities, property, bonds and cash both domestically and offshore. The fund focuses on high quality individual holdings selected through a bottom-up process. It targets returns that exceed inflation by 6% over 3 to 5 years at lower risk than traditional balanced funds.
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This document compares different types of investments based on their risk factors. Stocks generally carry higher risk than bonds but also higher potential returns. Mutual funds provide diversification and thus less risk than individual stocks. Real estate investments vary in risk depending on location and property type. Cryptocurrencies are highly speculative investments with significant risk of loss. Savings accounts and CDs are considered very low risk but also provide lower returns. Overall, higher risk investments like stocks offer greater return potential while lower risk options like bonds and savings accounts provide more stability but also lower returns.
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How2Invest is a comprehensive guide to building wealth through investing. It provides educational resources, investment guides, interactive tools, and an online community to help investors of all experience levels. The guide emphasizes fundamental investing principles like risk and return, diversification, and time horizon. It advocates for a disciplined approach to portfolio construction focusing on asset allocation, risk management, cost efficiency, and continuous monitoring. Advanced strategies discussed include value investing, technical analysis, alternative investments, and risk hedging. The overall goal is to empower individuals to take control of their financial future and achieve their investing goals.
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This document provides an introduction to investment and securities. It defines investment as an asset acquired to generate income or appreciation in the future. Speculation involves trading high risk financial instruments for potential significant returns. The key difference between investors and speculators is that investors have a longer time horizon, accept moderate risk, and consider fundamental factors, while speculators have a very short time horizon, accept high risk, and focus on market behavior and inside information. The main investment objectives are maximizing return while minimizing risk, and maintaining liquidity, hedging inflation, increasing safety, and saving tax. The investment process involves setting a policy, analyzing opportunities, constructing a diversified portfolio, and periodically evaluating performance.
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Investment portfolio management involves managing financial assets like stocks, bonds, and mutual funds to achieve maximum returns while minimizing risk based on the investor's goals, risk tolerance, and investment horizon. A portfolio is a combination of securities constructed to meet the investor's objectives. Objectives of investment portfolios include return, risk, liquidity, safety, and tax benefits. Effective investment portfolio management requires a strategic approach based on understanding the investor's needs and market conditions.
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This presentation provides a piece of basic information about the investment. It also deals with the various aspects of investment. It also talks about saving, speculation, and gambling. It also deals with the difference between investors and speculators. The objectives, processes, and avenues of investment are also mentioned in this presentation.
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Chapter 8- Introduction to Investment.pptx
INVESTMENT TOPIC AND ANYTHING RELATED TO BUSINESS Investment is the employment of funds with the aim of getting return on it.
In general terms, it means the use of money in the hope of making more money
In finance, it means the purchase of a financial product or other item of value with an expectation of favorable future returns.
Refers to concept of deferred consumption, which involves purchasing an asset, giving loan or keeping funds in a bank account with the aim of generating future returns
Commodities: include metals, oil, grain, and animal products, as well as financial instruments and currencies.
They can either be traded through commodity futures—which are agreements to buy or sell a specific quantity of a commodity at a specified price on a particular future date—or ETFs. Commodities can be used for hedging risk or for speculative purposes. Alternative investments is a catch-all category that includes hedge funds and private equity.
Hedge funds are so-called because they can hedge their investment bets by going long and short on stocks and other investments.
Private equity enables companies to raise capital without going public. Hedge funds and private equity were typically only available to affluent investors deemed "accredited investors" who met certain income and net worth requirements. The starting point in this process is to determine the characteristics of the various investments and then matching them with the individuals need and preferences.
These objectives may be tangible such as buying a car, house etc. and intangible objectives such as social status, security etc.
Long term high priority objectives:
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- 1. V.N.V.SASTRY KRUPANIDHI School of Management Investment analysis and management. Real assets and financial assets: The material wealth of a society is determined by the productive capacity of the economy. Ex: Investment in the form of land, building, knowledge and machines. Financial assets represent various financial instruments such as shares, bonds, debentures. ---Meaning of Investment Investment is the employment of funds on assets with the aim of earning income or capital appreciation. Investment has two attributes namely time and risk. Present consumption is sacrificed to get a return in the future. The sacrifice that has to be borne is certain but the return in the future may be uncertain. Investment is commitment of Funds made for a time period that will compensate the investor for- The time the funds are committed; The expected rate of inflation; and The uncertainty of future payments DEFINITION OF INVESTMENT: Investment refers to the “purchase of a financial asset that produces a yield that is proportionate to the risk assumed over some investment period. ---- F.Fleming Investment is a sacrifice of certain present value for some uncertain future value. Examples --- Sharpe X purchased a bungalow for Rs 10 lakhs in Delhi. Y buys 100 shares of Infosys technologies ltd at Rs 1800 per share in expectation of good return.
- 2. V.N.V.SASTRY Z invested Rs 10000 in mutual funds of SBI. CONCEPTS RELATING TO INVESTMENTS The following are the three concepts of management. 1.Economic Environment. 2.Business investment. 3.Financial investment. In economics ,investment refers to the net additions to the capital stock of an economy, production of other goods such as buildings,railroads,factories etc. Business investment implies money to be held or to be put in a private business. Financial investment refers to putting money into various securities ( shares, debentures)real estate,mutual funds,insurance,precious metals. ---Objectives of investment: Return: Risk: Liquidity: Hedge against inflation: Safety: Tax advantage: Marketability: Diversification. Meaning of speculation Speculation is a short term investment,Speculation involves buying and selling of securities or other asset,in the hope of making profit from anticipated changes in the profit. Meaning of Gambling:
- 3. V.N.V.SASTRY Gambling is a game of chance or a roll of dice. The outcome of gambling is known immediately. It is done for entertainment. It involves luck. It is unplanned and unscientific activity with the knowledge of risk involved. Difference between Investment and speculation Investment Speculation Investment is long term in nature. Speculation is a short term activity Investment has less or moderate degree of risk. It involves a high degree of risk. A person who invests for long term is called investor. A person indulges in short term activity is called speculator. Marketable asset is not necessary for investment Marketable asset is not necessary for speculation Moderate or low return are expected. High returns are expected. Low brokerage fees. High brokerage fees. Leverage benefit is not available Leverage benefit is available. Investors uses fundamental analysis Speculators uses technical analysis .INVESTMENT PROCESS DEFINE INVESTMENT GOALS AND CONSTRAINTS IDENTIFY INVESTMENT ALTERNATIVES CHOOSING THE BEST ALTERNATIVE OR ALTERNATIVES PORTFOLIO CONSTRUCTION PORTFOLIO EXECUTION PORTFOLIO EVALUATION
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