Slides of the month april 2014
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Our April "Slides of the Month" discuss the recent run up in prices of dividend paying stocks. We identify favorable values in cyclically oriented stocks which are better positioned to benefit from additional economic growth.
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The Art of Risk Management- Strategic Asset Allocation
This document provides an overview of strategic asset allocation and investment strategy. It discusses:
- Designing an investment strategy, including defining asset allocation benchmarks, allocation ranges, and analyzing historical performance.
- Monitoring an investment strategy through comparing actual performance to feasible benchmark ranges and analyzing tracking error.
- Key points on balancing risk and return through strategic asset allocation and measuring performance in the context of market conditions and investment mandates.
Asset allocation Issues
Strategic asset allocation involves setting long-term target allocations for different asset classes based on an investor's risk tolerance, while tactical asset allocation periodically adjusts the asset mix in response to changing market conditions in order to potentially boost returns or reduce risk in the short-term. While strategic asset allocation focuses on systematic market risk and has historically been the main source of risk for portfolios, tactical asset allocation aims to generate excess returns over benchmarks through shorter-term trading ideas and thematic adjustments based on valuations and market sentiment.
Asset allocation-guide
The document discusses asset allocation and provides guidance on how to build an investment portfolio. It defines asset allocation as dividing investments among different asset classes to reduce risk. The key aspects covered include:
- Asset allocation is the most important factor influencing investment returns, accounting for over 90% of results.
- Common asset classes include stocks, bonds, cash, gold, and real estate.
- An individual's asset allocation should consider their goals, risk tolerance, age, income stability, and time horizon rather than just their age.
- The document provides a process for determining one's asset allocation, including assessing if they are more like a stock or bond based on their career and financial situation.
Active Asset Allocation Solutions
This document provides an overview of Active Asset Allocation, a company that offers asset allocation solutions. It puts forth a responsible approach to preserving long-term financial resources through the application of academic research. The company helps investors better understand and manage their risks to honor commitments in a sustainable way. Active Asset Allocation designs customized dynamic asset allocation models that adapt to investor constraints while controlling inherent portfolio risks through stress testing.
Asset allocation ppt
Asset allocation refers to how an investor distributes their funds across major asset classes like stocks, bonds, real estate, and cash. The document discusses three main asset allocation strategies: strategic asset allocation involves maintaining a long-term target allocation; tactical asset allocation aims to exploit short-term market changes; and insured asset allocation adjusts based on an investor's risk tolerance which may change with gains or losses. Successful asset allocation requires defining goals, assessing risk tolerance, creating a target portfolio, and periodic review/rebalancing.
Market Perspectives - April 2018
Most investment firms guide investors toward a mix of equities and fixed income, with fixed income intended to earn returns while protecting principal and reducing portfolio risk. However, rising interest rates have created challenges for fixed income. Through April, most fixed income assets were negative, demonstrating the benefits of diversification and avoiding long duration securities. The 10-year Treasury yield has risen from 2.04% to 2.97%, lowering prices in "safe" fixed income buckets. Further rate rises are expected as the Federal Reserve continues tightening its balance sheet. To address this, maintaining a diversified portfolio focused on asset class correlations and including alternatives can help optimize returns over time in the current environment.
Asset allocation
The document discusses asset allocation and its importance in financial planning. It defines asset allocation as a strategy for choosing between different types of investments like stocks and bonds. A large part of financial planning involves finding an asset allocation that matches a person's risk tolerance and needs. The document states that asset allocation is often the key determinant of long-term returns on a portfolio. It then presents a "bucket concept" that categorizes different asset types into security, growth, and momentum buckets with suggested allocations based on a person's age and risk profile.
Derivatives Program
This document summarizes an equity derivatives program that aims to generate income and improve risk-adjusted returns. It does this by systematically selling put options on stocks of fundamentally strong companies trading at attractive valuations, with a focus on those with conservative debt levels. The program targets annualized returns of 8-12% through option premiums of 7-15% and additional yield from cash investments, while providing downside protection of 15-30% and lower volatility than broad equity markets through this conservative equity exposure approach.
Recommended
The Art of Risk Management- Strategic Asset Allocation
This document provides an overview of strategic asset allocation and investment strategy. It discusses:
- Designing an investment strategy, including defining asset allocation benchmarks, allocation ranges, and analyzing historical performance.
- Monitoring an investment strategy through comparing actual performance to feasible benchmark ranges and analyzing tracking error.
- Key points on balancing risk and return through strategic asset allocation and measuring performance in the context of market conditions and investment mandates.
Asset allocation Issues
Strategic asset allocation involves setting long-term target allocations for different asset classes based on an investor's risk tolerance, while tactical asset allocation periodically adjusts the asset mix in response to changing market conditions in order to potentially boost returns or reduce risk in the short-term. While strategic asset allocation focuses on systematic market risk and has historically been the main source of risk for portfolios, tactical asset allocation aims to generate excess returns over benchmarks through shorter-term trading ideas and thematic adjustments based on valuations and market sentiment.
Asset allocation-guide
The document discusses asset allocation and provides guidance on how to build an investment portfolio. It defines asset allocation as dividing investments among different asset classes to reduce risk. The key aspects covered include:
- Asset allocation is the most important factor influencing investment returns, accounting for over 90% of results.
- Common asset classes include stocks, bonds, cash, gold, and real estate.
- An individual's asset allocation should consider their goals, risk tolerance, age, income stability, and time horizon rather than just their age.
- The document provides a process for determining one's asset allocation, including assessing if they are more like a stock or bond based on their career and financial situation.
Active Asset Allocation Solutions
This document provides an overview of Active Asset Allocation, a company that offers asset allocation solutions. It puts forth a responsible approach to preserving long-term financial resources through the application of academic research. The company helps investors better understand and manage their risks to honor commitments in a sustainable way. Active Asset Allocation designs customized dynamic asset allocation models that adapt to investor constraints while controlling inherent portfolio risks through stress testing.
Asset allocation ppt
Asset allocation refers to how an investor distributes their funds across major asset classes like stocks, bonds, real estate, and cash. The document discusses three main asset allocation strategies: strategic asset allocation involves maintaining a long-term target allocation; tactical asset allocation aims to exploit short-term market changes; and insured asset allocation adjusts based on an investor's risk tolerance which may change with gains or losses. Successful asset allocation requires defining goals, assessing risk tolerance, creating a target portfolio, and periodic review/rebalancing.
Market Perspectives - April 2018
Most investment firms guide investors toward a mix of equities and fixed income, with fixed income intended to earn returns while protecting principal and reducing portfolio risk. However, rising interest rates have created challenges for fixed income. Through April, most fixed income assets were negative, demonstrating the benefits of diversification and avoiding long duration securities. The 10-year Treasury yield has risen from 2.04% to 2.97%, lowering prices in "safe" fixed income buckets. Further rate rises are expected as the Federal Reserve continues tightening its balance sheet. To address this, maintaining a diversified portfolio focused on asset class correlations and including alternatives can help optimize returns over time in the current environment.
Asset allocation
The document discusses asset allocation and its importance in financial planning. It defines asset allocation as a strategy for choosing between different types of investments like stocks and bonds. A large part of financial planning involves finding an asset allocation that matches a person's risk tolerance and needs. The document states that asset allocation is often the key determinant of long-term returns on a portfolio. It then presents a "bucket concept" that categorizes different asset types into security, growth, and momentum buckets with suggested allocations based on a person's age and risk profile.
Derivatives Program
This document summarizes an equity derivatives program that aims to generate income and improve risk-adjusted returns. It does this by systematically selling put options on stocks of fundamentally strong companies trading at attractive valuations, with a focus on those with conservative debt levels. The program targets annualized returns of 8-12% through option premiums of 7-15% and additional yield from cash investments, while providing downside protection of 15-30% and lower volatility than broad equity markets through this conservative equity exposure approach.
Asset Allocation for Beginners
This document discusses asset allocation and provides guidance on developing investment portfolios tailored to different life stages. It explains that asset allocation involves diversifying investments across asset classes like stocks, bonds, real estate, and cash to reduce risk. Different investment strategies - aggressive, moderate, and conservative - are outlined with recommended allocations for each. The importance of periodically rebalancing a portfolio and adjusting the allocation as life circumstances change is also emphasized.
A Sampling of Investment Ideas #2
This document presents several investment ideas, including stocks, mutual funds, and exchange-traded funds. It provides information on each investment's dividend yield, 1-year and 5-year price returns, net expense ratios, and brief commentary on investment rationale. The author has a preference for dividend-paying investments but also includes those with little or no dividends. Key investments highlighted include Independence Realty Trust, Fuller & Thaler Behavioral Small-Cap Equity Fund, various ETFs focusing on buybacks, artificial intelligence, disruptive innovation, private equity, and utilities.
Market test ratios
financial accounting - management accounting - financial management - analysis and interpretation of financial statement
Sage Fact Sheet Jun 2015
Sage Capital Management employs a convertible arbitrage strategy focused on small and mid-capitalization convertible securities to generate attractive risk-adjusted returns. The strategy involves purchasing convertible bonds and shorting a percentage of the underlying stock. The portfolio managers select securities through fundamental analysis while maintaining industry and issuer diversification. For the period ending June 2015, the convertible arbitrage fund returned -0.39% compared to -0.74% for the HFRX Convertible Arbitrage Index.
Asset Classes and Market Segments
The document discusses asset classes and market segments. It defines asset classes as the process of allocating money between equity, fixed income, real estate, commodities, and cash equivalents. The key points made are:
- Asset allocation aims to balance risk and reward by adjusting the percentage of each asset class in a portfolio based on the investor's goals, risk tolerance, and time horizon.
- Diversifying investments across asset classes can help reduce risk.
- An investor's asset allocation should consider their risk tolerance, investment objectives, and time horizon. Younger investors with longer time horizons can tolerate more risk, while older investors should take on less risk.
Hedge funds and Tulipmania
The document discusses hedge funds and the historical Tulipmania event. It defines a hedge fund as a tool that creates value through reliable returns, risk management, and diversification. Hedge funds invest in stocks, bonds, commodities, and currencies globally using various strategies like macro, arbitrage, and directional approaches. The document notes that for a recent 10-year period, a basic portfolio outperformed the average hedge fund due to the funds' high fees. It then provides background on how tulip bulbs were introduced to Europe and became a highly speculative commodity during the 1600s "Tulipmania" bubble before ultimately collapsing.
Smart Directions Portfolio Diversification - 2/4/2016
Dr. Rauterkaus discusses portfolio diversification as part of the Emmet O'Neal Library Smart Directions program.
Market Volatility - Fight or Flight
The document discusses market volatility and strategies for dealing with it. It defines volatility, looks at historical volatility levels, and discusses how volatility affects investors. It then outlines the wealth management group's strategies, which include repositioning portfolios to focus on quality income assets, employing strategies to dampen volatility, and ensuring portfolios align with clients' goals and risk tolerance.
Individual client asset allocation and investment strategies
This document discusses asset allocation strategies and investment philosophies for clients. It describes strategic asset allocation (SAA) as establishing a long-term benchmark portfolio based on a client's objectives and risk tolerance. SAA involves specifying asset classes, expected returns, and deriving an efficient portfolio. Tactical asset allocation allows short-term adjustments within SAA limits. Asset allocation is also discussed in the context of a client's accumulation stage in life. The document also contrasts passive indexing strategies with active investment strategies using bottom-up or top-down approaches.
Portfolio management strategies
by G-10
For downloading this contact- bikashkumar.bk100@gmail.com
Prepared by Students of University of Rajshahi
Rasik Rownak Hossain
Shakib Fardous
Md. Rakibul Islam
Effat Ara Saima
Rafia Sultana
Tanvir Ahmed
Md.Shahidul Islam
SK Shourov Ahemmed
Tamjedul Alam Evan
Romana Haque Saima
Sarkar Muhammad Shohag
Khademul Islam
Jannatul Ferdous
Sheikh Hamim Hasan
Toufique Ul Haque Tuhin
Kerobin Hasda
us-fsi-hedge-fund-impact-investing
The document discusses the potential opportunities for hedge funds in impact investing. It defines impact investing as intentionally allocating capital to generate both social/environmental impacts that are measured. While impact investing is still small, institutional and individual investors are increasing commitments annually. The document outlines key considerations for hedge funds considering impact investing, such as defining meaningful impact measures, achieving comparable financial performance to benchmarks, and ensuring fiduciary compliance. It argues that as demand for ESG strategies is growing, impact investing may represent an untapped source of alpha for early adopting hedge funds.
Marginal Efficiency Of Investment(Mei) Revised Feb 2011
This document provides an updated risk-adjusted analysis of different investment styles in bull and bear markets through 2010. The main findings are:
1) Mid caps provided the highest risk-adjusted returns (Marginal Efficiency of Investment or MEI) overall and during recessions, followed closely by mega caps.
2) Monte Carlo simulations showed a 90% probability that a 100% allocation to mid caps would yield an 11.97% return with a 5.7% standard deviation, the highest combination of returns and lowest risk.
3) While international investments showed strong past growth, more data is needed due to higher volatility and smaller sample size to evaluate sustainability. A 5-15% weighting is recommended depending on
Select Directional 2016 08 31
As investors grow fearful, they sell riskier assets, like stocks, and buy safe haven assets such as U.S. Treasuries and gold. As they grow more confident, they seek higher returns by re-investing in stocks. We designed the Select Directional ETF Model (SD Model) with a simple premise, buy the best performing assets and sell the laggards.
The SD Model begins with eleven strategically selected ETFs, each representing a distinct asset class. The SD Model’s objective ranking system and rebalancing rules ensure the portfolio stays invested in only the three highest ranked ETFs. A white paper containing more information regarding the SD Model is available at http://successfulportfolios.com.
Summary of the key messages from the 2016 Annual Funding Statement
The document provides guidance for pension scheme trustees undertaking 2016 valuations from the Pensions Regulator. It emphasizes that an integrated risk management approach is key to assessing the risks impacting scheme assets and liabilities. Trustees are expected to set realistic investment return assumptions based on current market conditions. Most schemes will likely have larger deficits than expected and trustees should discuss increasing employer contributions or alternative options with employers where affordability allows. Trustees are also advised to focus on longer term risks and rewards rather than short term market volatility.
Cost of capital
The document discusses the cost of capital, which refers to the expected rate of return that a company must offer its investors to compensate for the risk of its investments. It provides an example calculation of a company's weighted average cost of capital of 11.2% based on its capital structure of debt, preferred stock, and common equity. The cost of capital is important for evaluating whether potential investments will provide returns that exceed the minimum rate required by investors.
Income Matching Using Individual Bonds
This document presents an alternative investment strategy called income matching using individual bonds. It describes how this strategy can be used to build income-matching portfolios that generate predictable cash flows to meet a client's future income needs. It compares this approach to traditional strategies like bond funds, annuities, and dividend stocks, highlighting challenges such as interest rate risk, expenses, and unreliable income streams from these other options.
The Benefits of Mid-Cap Investing
An investment in mid-cap stocks would have significantly outperformed large and small cap stocks over the long term between 1979 and 2009. Mid-caps have exhibited a consistent record of outperformance relative to other market caps across various time periods. They also provide a better risk-reward relationship than other caps, participating in market upswings while avoiding much of the downside. Mid-cap performance follows predictable patterns over economic cycles. The current market environment is favorable for mid-caps, and including a mid-cap allocation has historically improved portfolio performance with minimal increased risk.
Www
This document provides an overview of ratio analysis, outlining various types of ratios used to analyze a company's financial health and performance. It discusses short-term and long-term solvency ratios, profitability ratios, liquidity ratios, efficiency ratios, and valuation ratios. For each ratio type, several example ratios are defined and the factors that influence them are described. Comparative standards and benchmarks for analyzing ratios are also outlined.
Liquidity ratios
The document discusses liquidity ratios, which analyze a firm's short-term financial position and ability to meet current liabilities with current assets. It defines the current ratio as current assets divided by current liabilities, with 1.5:1 typically considered satisfactory. The quick or acid test ratio measures a firm's ability to use quick assets like cash to pay current liabilities immediately, excluding inventory from current assets. Both ratios above 1 indicate a company can meet short-term obligations, while ratios below 1 suggest potential issues with liquidity. The document provides an example calculation of both ratios.
Stock valuation ppt @ bec doms on finace
The document discusses various methods for valuing stocks, including forecasting future cash flows, earnings, dividends and stock prices. It outlines three main steps: 1) forecasting future sales and profits, 2) forecasting EPS and dividends, and 3) forecasting the stock's future price using the P/E ratio. Several valuation models are described, such as the dividend valuation model using zero, constant and variable growth assumptions, as well as price-earnings, price-to-cash-flow and price-to-book-value approaches. Required rates of return and intrinsic value are also discussed as factors in determining if a stock is undervalued or overvalued.
Wycena naklejki 3d cennik
Aby wycenić własne naklejki wypukłe 3D wystarczy, że podasz kilka podstawowych informacji. Sprawdź jak łatwo wycenisz swoje naklejki 3D - poznaj ich cennik.
Zapytania: biuro@polinal.pl
#naklejki3d #naklejki3dcennik
Solusi sampah pada kehidupan sekitar
Makalah ini membahas tentang sampah, termasuk definisi, jenis, dampak, dan tindakan penanganan sampah. Beberapa poin kunci yang diangkat antara lain klassifikasi sampah berdasarkan sumber dan sifat, dampak negatif sampah terhadap lingkungan dan kesehatan, serta tindakan yang dapat dilakukan masyarakat dalam penanganan sampah.
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Asset Allocation for Beginners
This document discusses asset allocation and provides guidance on developing investment portfolios tailored to different life stages. It explains that asset allocation involves diversifying investments across asset classes like stocks, bonds, real estate, and cash to reduce risk. Different investment strategies - aggressive, moderate, and conservative - are outlined with recommended allocations for each. The importance of periodically rebalancing a portfolio and adjusting the allocation as life circumstances change is also emphasized.
A Sampling of Investment Ideas #2
This document presents several investment ideas, including stocks, mutual funds, and exchange-traded funds. It provides information on each investment's dividend yield, 1-year and 5-year price returns, net expense ratios, and brief commentary on investment rationale. The author has a preference for dividend-paying investments but also includes those with little or no dividends. Key investments highlighted include Independence Realty Trust, Fuller & Thaler Behavioral Small-Cap Equity Fund, various ETFs focusing on buybacks, artificial intelligence, disruptive innovation, private equity, and utilities.
Market test ratios
financial accounting - management accounting - financial management - analysis and interpretation of financial statement
Sage Fact Sheet Jun 2015
Sage Capital Management employs a convertible arbitrage strategy focused on small and mid-capitalization convertible securities to generate attractive risk-adjusted returns. The strategy involves purchasing convertible bonds and shorting a percentage of the underlying stock. The portfolio managers select securities through fundamental analysis while maintaining industry and issuer diversification. For the period ending June 2015, the convertible arbitrage fund returned -0.39% compared to -0.74% for the HFRX Convertible Arbitrage Index.
Asset Classes and Market Segments
The document discusses asset classes and market segments. It defines asset classes as the process of allocating money between equity, fixed income, real estate, commodities, and cash equivalents. The key points made are:
- Asset allocation aims to balance risk and reward by adjusting the percentage of each asset class in a portfolio based on the investor's goals, risk tolerance, and time horizon.
- Diversifying investments across asset classes can help reduce risk.
- An investor's asset allocation should consider their risk tolerance, investment objectives, and time horizon. Younger investors with longer time horizons can tolerate more risk, while older investors should take on less risk.
Hedge funds and Tulipmania
The document discusses hedge funds and the historical Tulipmania event. It defines a hedge fund as a tool that creates value through reliable returns, risk management, and diversification. Hedge funds invest in stocks, bonds, commodities, and currencies globally using various strategies like macro, arbitrage, and directional approaches. The document notes that for a recent 10-year period, a basic portfolio outperformed the average hedge fund due to the funds' high fees. It then provides background on how tulip bulbs were introduced to Europe and became a highly speculative commodity during the 1600s "Tulipmania" bubble before ultimately collapsing.
Smart Directions Portfolio Diversification - 2/4/2016
Dr. Rauterkaus discusses portfolio diversification as part of the Emmet O'Neal Library Smart Directions program.
Market Volatility - Fight or Flight
The document discusses market volatility and strategies for dealing with it. It defines volatility, looks at historical volatility levels, and discusses how volatility affects investors. It then outlines the wealth management group's strategies, which include repositioning portfolios to focus on quality income assets, employing strategies to dampen volatility, and ensuring portfolios align with clients' goals and risk tolerance.
Individual client asset allocation and investment strategies
This document discusses asset allocation strategies and investment philosophies for clients. It describes strategic asset allocation (SAA) as establishing a long-term benchmark portfolio based on a client's objectives and risk tolerance. SAA involves specifying asset classes, expected returns, and deriving an efficient portfolio. Tactical asset allocation allows short-term adjustments within SAA limits. Asset allocation is also discussed in the context of a client's accumulation stage in life. The document also contrasts passive indexing strategies with active investment strategies using bottom-up or top-down approaches.
Portfolio management strategies
by G-10
For downloading this contact- bikashkumar.bk100@gmail.com
Prepared by Students of University of Rajshahi
Rasik Rownak Hossain
Shakib Fardous
Md. Rakibul Islam
Effat Ara Saima
Rafia Sultana
Tanvir Ahmed
Md.Shahidul Islam
SK Shourov Ahemmed
Tamjedul Alam Evan
Romana Haque Saima
Sarkar Muhammad Shohag
Khademul Islam
Jannatul Ferdous
Sheikh Hamim Hasan
Toufique Ul Haque Tuhin
Kerobin Hasda
us-fsi-hedge-fund-impact-investing
The document discusses the potential opportunities for hedge funds in impact investing. It defines impact investing as intentionally allocating capital to generate both social/environmental impacts that are measured. While impact investing is still small, institutional and individual investors are increasing commitments annually. The document outlines key considerations for hedge funds considering impact investing, such as defining meaningful impact measures, achieving comparable financial performance to benchmarks, and ensuring fiduciary compliance. It argues that as demand for ESG strategies is growing, impact investing may represent an untapped source of alpha for early adopting hedge funds.
Marginal Efficiency Of Investment(Mei) Revised Feb 2011
This document provides an updated risk-adjusted analysis of different investment styles in bull and bear markets through 2010. The main findings are:
1) Mid caps provided the highest risk-adjusted returns (Marginal Efficiency of Investment or MEI) overall and during recessions, followed closely by mega caps.
2) Monte Carlo simulations showed a 90% probability that a 100% allocation to mid caps would yield an 11.97% return with a 5.7% standard deviation, the highest combination of returns and lowest risk.
3) While international investments showed strong past growth, more data is needed due to higher volatility and smaller sample size to evaluate sustainability. A 5-15% weighting is recommended depending on
Select Directional 2016 08 31
As investors grow fearful, they sell riskier assets, like stocks, and buy safe haven assets such as U.S. Treasuries and gold. As they grow more confident, they seek higher returns by re-investing in stocks. We designed the Select Directional ETF Model (SD Model) with a simple premise, buy the best performing assets and sell the laggards.
The SD Model begins with eleven strategically selected ETFs, each representing a distinct asset class. The SD Model’s objective ranking system and rebalancing rules ensure the portfolio stays invested in only the three highest ranked ETFs. A white paper containing more information regarding the SD Model is available at http://successfulportfolios.com.
Summary of the key messages from the 2016 Annual Funding Statement
The document provides guidance for pension scheme trustees undertaking 2016 valuations from the Pensions Regulator. It emphasizes that an integrated risk management approach is key to assessing the risks impacting scheme assets and liabilities. Trustees are expected to set realistic investment return assumptions based on current market conditions. Most schemes will likely have larger deficits than expected and trustees should discuss increasing employer contributions or alternative options with employers where affordability allows. Trustees are also advised to focus on longer term risks and rewards rather than short term market volatility.
Cost of capital
The document discusses the cost of capital, which refers to the expected rate of return that a company must offer its investors to compensate for the risk of its investments. It provides an example calculation of a company's weighted average cost of capital of 11.2% based on its capital structure of debt, preferred stock, and common equity. The cost of capital is important for evaluating whether potential investments will provide returns that exceed the minimum rate required by investors.
Income Matching Using Individual Bonds
This document presents an alternative investment strategy called income matching using individual bonds. It describes how this strategy can be used to build income-matching portfolios that generate predictable cash flows to meet a client's future income needs. It compares this approach to traditional strategies like bond funds, annuities, and dividend stocks, highlighting challenges such as interest rate risk, expenses, and unreliable income streams from these other options.
The Benefits of Mid-Cap Investing
An investment in mid-cap stocks would have significantly outperformed large and small cap stocks over the long term between 1979 and 2009. Mid-caps have exhibited a consistent record of outperformance relative to other market caps across various time periods. They also provide a better risk-reward relationship than other caps, participating in market upswings while avoiding much of the downside. Mid-cap performance follows predictable patterns over economic cycles. The current market environment is favorable for mid-caps, and including a mid-cap allocation has historically improved portfolio performance with minimal increased risk.
Www
This document provides an overview of ratio analysis, outlining various types of ratios used to analyze a company's financial health and performance. It discusses short-term and long-term solvency ratios, profitability ratios, liquidity ratios, efficiency ratios, and valuation ratios. For each ratio type, several example ratios are defined and the factors that influence them are described. Comparative standards and benchmarks for analyzing ratios are also outlined.
Liquidity ratios
The document discusses liquidity ratios, which analyze a firm's short-term financial position and ability to meet current liabilities with current assets. It defines the current ratio as current assets divided by current liabilities, with 1.5:1 typically considered satisfactory. The quick or acid test ratio measures a firm's ability to use quick assets like cash to pay current liabilities immediately, excluding inventory from current assets. Both ratios above 1 indicate a company can meet short-term obligations, while ratios below 1 suggest potential issues with liquidity. The document provides an example calculation of both ratios.
Stock valuation ppt @ bec doms on finace
The document discusses various methods for valuing stocks, including forecasting future cash flows, earnings, dividends and stock prices. It outlines three main steps: 1) forecasting future sales and profits, 2) forecasting EPS and dividends, and 3) forecasting the stock's future price using the P/E ratio. Several valuation models are described, such as the dividend valuation model using zero, constant and variable growth assumptions, as well as price-earnings, price-to-cash-flow and price-to-book-value approaches. Required rates of return and intrinsic value are also discussed as factors in determining if a stock is undervalued or overvalued.
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Wycena naklejki 3d cennik
Aby wycenić własne naklejki wypukłe 3D wystarczy, że podasz kilka podstawowych informacji. Sprawdź jak łatwo wycenisz swoje naklejki 3D - poznaj ich cennik.
Zapytania: biuro@polinal.pl
#naklejki3d #naklejki3dcennik
Solusi sampah pada kehidupan sekitar
Makalah ini membahas tentang sampah, termasuk definisi, jenis, dampak, dan tindakan penanganan sampah. Beberapa poin kunci yang diangkat antara lain klassifikasi sampah berdasarkan sumber dan sifat, dampak negatif sampah terhadap lingkungan dan kesehatan, serta tindakan yang dapat dilakukan masyarakat dalam penanganan sampah.
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Market perspective June 2015
This month we analyze first quarter earnings and dig into the impact of oil prices. As we have suggested, markets ultimately trade on earnings, and this quarter the picture has been clouded by the rapid decline in the energy sector.
Market Perspective March 2016
A review of Q4 2015 corporate earnings reveals a significant slowdown in revenue and earnings growth. While these developments have been affected by the sharp decline in commodity prices,they may reveal early signs of recessionary conditions.
Biegel Waller Investment Advisory Market Perspective
While the U.S. asset purchase program came to an end last month, we expect easy money policies around the globe to continue well into the future. We anticipate global leaders will remain focused on fighting deflationary forces with sufficient liquidity, which should help global asset prices.
Biegel Waller Market perspective-October 2015
We examine the importance of liquidity in capital markets during periods of dislocation and volatility.
Biegel Waller Investment Advisory December 2013 Slides of the Month
The document discusses an investment firm's outlook on international equity markets for 2014. It summarizes that central banks around the world will likely continue accommodative monetary policies. It then analyzes data showing signs of stabilization in China's manufacturing and the Eurozone's composite PMI remaining above earlier lows. International equities are deemed to have more attractive valuations than U.S. markets based on price-to-earnings, price-to-book, and dividend yield comparisons. Recovery in global markets has lagged the U.S., with indexes in Europe and China still well below pre-financial crisis highs.
Emblematy oznakowania chromowane metalic
Emblematy - naklejki chromowane METALIC pozwalają w bardzo estetyczny sposób oznakować produkty.
Wyjątkowa precyzja detali chromowanych oznakowań sprawia, że są one magnesem przyciągającym uwagę klientów.
Wyceń swoje emblematy chromowane. Do wyceny potrzebny jest projekt.
Kontakt: biuro@polinal.pl
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Stocks, also known as shares or equity, represent partial ownership in a company. When purchasing shares, an investor becomes a partial owner and may be entitled to voting rights and dividends. Historically, stocks have outperformed other investments due to dividend payments and price appreciation when shares are sold for a higher price than purchased. Investors can purchase stocks individually or through mutual funds, which provide diversification. However, stock investing also carries risks like market volatility, inflation, and investment or credit risk that affect a company's performance.
Private company valuation
Valuation of Private vs. Public Companies. Private company valuations are discounted based on several risk factors associated with private sector investing, which results in a marked difference between the valuation of a privately held company, subsidiary or a division and a publicly traded corporation.
Fundamentals of asset class investing
The article discusses an alternative approach to experiencing the costs of index reconstitution, called “Asset Classes,” which allow the fund manager broader leeway as to when to buy or sell, along with a broader range of holdings. This discussion begins in the section called “Decision Two: Indexing or Asset Class Investing?”
The Asset Class approach, also referred to by others as "Factor Investing," is based on what has become to be called “Evidence Based Investing” due to roots discussed in the linked "Factor Investing" article, that come from academic (peer reviewed and repeatable results) foundation that continues to this day.
My blog post discussing this article is scheduled to post 8 Feb 2017 http://wp.me/p2Oizj-Hh
24771 Merlon Retirement Papers_FINAL
This document discusses how a traditional retirement asset allocation focused on fixed income may not be optimal given low yields and inflation risks. It proposes that an equity income strategy can help retirees by providing higher and more sustainable income growth than fixed income to better match retirement spending needs while also offering capital appreciation potential to hedge against inflation. Specifically, the document finds that a simple hedging strategy over equities can improve how long the portfolio can support spending by over 34% during poor market periods, allowing retirees to safely increase their equities allocation.
I fund brochure
This brochure describes funds operated by East West Advisors that feature principal protection against trading losses. The funds purchase investment grade bonds using 70% of assets to provide principal protection at maturity. The remaining 30% is used for commodity trading which could lose value, but the bonds are intended to cover any losses. However, there is no guarantee principal will be protected if the bonds default. The funds aim to provide non-correlated diversification, uncapped growth potential, and principal protection through their hybrid structure of bonds and commodity trading.
Joe Wirbick – Proactive Advisor Magazine – Volume 3, Issue 8
Joe Wirbick • J.W. Cole Financial, Inc.
- Diversification and the active manager by Linda Ferentchak
- Germany 2-year bond yield falls to negative territory
- Balancing active and passive investment strategies (Gary Ziegler, Transamerica Financial Advisors, Inc.)
CMC Markets Trading Smart Series: Company Fundamentals
At any given point in time, share prices tend to represent the sum of expectations about its value from all investors. Visit our website for more information -> http://www.cmcmarkets.com.sg
What-is-a-Mutual-Fund, description on Mutual funds aspects.pptx
Mutual funds pool money from investors and invest it in a diversified portfolio to provide investors access to a wide range of investment opportunities and professional management. They allow investors to easily diversify their portfolio across different asset types and sectors while benefiting from professional management. Common types of mutual funds include equity funds that invest in stocks, fixed income funds that invest in bonds, and balanced funds that invest in a mix of stocks and bonds.
What Is a Dividend and How Do They Work?
Dividends are a fundamental aspect of investing that plays a crucial role in the financial landscape. This comprehensive guide aims to cover the concept of dividends, exploring how they work, their significance for investors, and factors influencing dividend payouts.
What Should I Do Now Lpl
The document provides an overview of the current economic and market environment, common investor challenges, and strategies for meeting retirement needs. It discusses a mix of positive and negative factors for the economy and markets in 2011. It also presents a case study of a couple retiring in 5 years and analyzes their income needs and assets to determine how to address any shortfalls. The document recommends following a comprehensive consulting process and using a variety of asset classes and strategies to pursue goals.
Basic strategy
This document outlines an investment strategy that involves investing in 11 options: the S&P 500 index, 9 sector ETFs that track the different sectors of the S&P 500, and cash. The strategy aims to beat the returns of the S&P 500 index and top performing mutual funds by overallocating to sectors that outperform the overall index and avoiding underperforming sectors. The strategy is presented as simple to implement and backtested data is provided showing it achieved significantly higher returns than the S&P 500 and top mutual funds from 2006-2018.
Private Equity growth investing model for Nestle India Limited
The document discusses private equity growth investing opportunities in India's consumer staples (FMCG) industry. It begins with an introduction to private equity, describing what it means, how private equity funds work, objectives of private equity investments, and valuation methods. It then provides context on India's economy and consumption trends, noting household consumption growth slowed from 2011-2012 due to high inflation and interest rates. However, potential for consumption revival exists through curbing inflation, rural expenditure growth, and a boost from Chinese economic slowdown. The document performs an analysis of India's FMCG industry and proposes Nestle India as the best company for a 5-year private equity growth investment based on a financial analysis and projections.
Qir 2013q2 us
This research paper discusses enhancing value investment strategies by incorporating expected profitability.
For small cap value strategies, the paper proposes excluding stocks in each country with the lowest direct profitability, with the percentage excluded depending on the stock's price-to-book ratio.
For large cap value strategies, the paper suggests selecting stocks based on both low price-to-book ratios and high direct profitability. It also proposes overweighting stocks that have higher profitability, lower market capitalization, and lower relative price.
The goal is to structure portfolios to better capture the dimensions of expected returns related to company size, relative price, and expected profitability, while maintaining appropriate diversification and managing costs.
41681421 kotak-mahindra
This document introduces some key concepts about investments including:
1) The reasons for investing include earning returns on idle resources, generating funds for specific goals, and providing for an uncertain future.
2) There are three main types of investments - economic, financial, and general investments.
3) Some important characteristics of investments are potential returns, risk level, safety, and liquidity.
4) There are several important reasons for individuals to invest, such as retirement planning, tax benefits, inflation protection, and income generation.
US
This document discusses dividend investing strategies. It makes the following key points:
1) Dividend investing tends to outperform during periods of market volatility and below average returns, as dividend income provides downside protection.
2) Dividends have accounted for about one-third of the total return of the S&P 500 since the 1970s, so excluding dividend stocks puts investors at a disadvantage.
3) The best dividend strategies focus on high quality stocks with growing dividends, cash flows, and earnings, not just high yields, to identify opportunities with sustainable payouts.
Cummings_ACI_Brochure_0116
The document discusses key considerations for long-term investing, focusing on longevity and the importance of making investment decisions that will allow one's money to last a lifetime. It outlines two main investment decisions - whether to take an active or passive approach, and if passive, whether to implement an indexing or asset class strategy. For the first decision, it notes that most active managers underperform the market, while passive investing aims to capture market returns at low cost. For the second decision, it explains that asset class investing seeks to maintain consistent risk exposures and has more flexibility, while indexing aims to replicate market segments.
Putnam Equity Income Fund Q&A Q2 2013
The portfolio’s pro-cyclical bias was beneficial as we continued to see a shift in favor of cyclical stocks over defensive sectors. Over the past few years, we have seen a significant expansion in the universe of companies with the ability and willingness to pay a dividend. Given the speed with which stocks have advanced and the introduction of increased interest-rate volatility, I would describe my outlook for equities as cautious for the short term.
48407540 project-report-on-portfolio-management-mgt-727 (1)
This document provides an overview of portfolio management. It begins with an introduction that defines portfolio management and discusses its key aspects like security analysis, portfolio construction, selection, and evaluation. It then discusses the steps in portfolio construction, including setting objectives, defining an investment policy, and applying a portfolio strategy. The next sections cover topics like types of assets, phases of portfolio management, and security and portfolio analysis. It concludes with a discussion of portfolio selection, revision, and evaluation. The overall summary emphasizes that portfolio management aims to maximize returns for a given risk level through diversification and balancing different asset classes.
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Compass Undervalued Top Picks Portfolio Series 3 Prospectus
Compass Undervalued Top Picks Portfolio Series 3 Prospectus
Joe Wirbick – Proactive Advisor Magazine – Volume 3, Issue 8
Joe Wirbick – Proactive Advisor Magazine – Volume 3, Issue 8
CMC Markets Trading Smart Series: Company Fundamentals
CMC Markets Trading Smart Series: Company Fundamentals
What-is-a-Mutual-Fund, description on Mutual funds aspects.pptx
What-is-a-Mutual-Fund, description on Mutual funds aspects.pptx
Private Equity growth investing model for Nestle India Limited
Private Equity growth investing model for Nestle India Limited
48407540 project-report-on-portfolio-management-mgt-727 (1)
48407540 project-report-on-portfolio-management-mgt-727 (1)
More from David Berger
Monthly Market Perspective - June 2016
The drivers of short-term market moves can be vastly different from those which underpin the cycles of longer-term market direction. This month we examine a variety of these factors.
Market Perspective May 2016
Following an impressive bounce back from February lows, the durability of the current bull market remains suspect. The benefits of the recent rally appear limited to the large cap, defensive sectors of the market. In prior market cycles, this has portended that the latter stages of a bull market are fast approaching and as such, caution is warranted.
Market Perspective February 2016
As the debate about future economic growth continues, we provide selected excerpts from Q4 earnings transcripts. Quotes from CEO's of companies across multiple industries. Excluding energy and manufacturing, most CEO's indicated a positive growth outlook for their respective companies and industries.
Market Perspective-November 2015
An analysis of post Q3 2015 earnings season, current market valuations and the outlook for corporate earnings in 2016.
Market Perspective - September 2015
Attached please find our monthly market perspectives piece for September. In light of the recent market volatility, we outline alternative investments, in particular market neutral investments. Currently, our preference is to use market neutral strategies for portfolio defense. In today’s market conditions, particularly in fixed income, traditional asset allocation strategies comprised solely of stocks and bonds may be challenged to provide an adequate balance of investment risk and return.
Market Perspective - August 2015
This month we attempt to look past the recent “headlines” affecting international markets and analyze the facts. As you will note, despite the volatility, we believe international investing still makes sense for long term investors.
Market Perspective - July 2015
The document discusses the ongoing economic crisis in Greece and its implications. It provides the following key points:
- Greece has undergone severe austerity measures in recent years which have led to high unemployment, declining GDP, and cuts to pensions and healthcare.
- The new Greek government was elected to negotiate less severe austerity, but European leaders refused to compromise, leaving Greece unable to pay IMF loans.
- A referendum voted against further austerity, increasing the likelihood Greece will exit the Eurozone and potentially revert to its former currency, the Drachma.
- Most Greek debt is held by European institutions so contagion risk to other Eurozone nations is seen as relatively low, though volatility may rise in the short term
Market Perspective June 2015
S&P 500 earnings in the first quarter were significantly impacted by negative performance in the energy sector. In our Market Perspective we examine Q1 earnings excluding energy and observe reasonably healthy results.
Market perspective-May 2015
Our May Market Perspective identifies and discusses the potential weaknesses in several traditional "safe" sectors within the equity markets-healthcare and utilities.
Market perspective april 2015
The document discusses the recent strengthening of the US dollar relative to other currencies. It explains that the US Federal Reserve's policy of low interest rates has contributed to dollar strength as this policy may change. Other central banks have pursued accommodative monetary policies, weakening their currencies like the Euro. An appreciating dollar can negatively impact returns on international stocks and dampen demand for US exports. Companies with foreign sales are affected as US goods become more expensive abroad.
Market perspective march 2015
For March 2015, we look at U.S. corporate earnings and discuss the dynamics of the most widely used method of equity valuation, Price to Earnings.
Market Perspective February 2015
Following several years of relatively benign capital market volatility, it appears wider swings may finally be upon us. January produced multiple moves up and down in excess of 3%. Market Perspectives explores the meaning behind the volatility and how we may seek to take advantage of it.
Market Perspective January 2015
As we look ahead to 2015, we review some of the themes we highlighted in 2014. While some of our strategies played out well last year, some are still developing. We expect our valuation discipline will continue to serve as a valuable guide in the new year and beyond.
Market Perspective December 2014
Recently commodity prices have fallen to multi-year lows. Read our December Market Perspective to learn how these dramatic price movements may impact consumers, industries and companies.
Market perspective October 2014
In the October 2014 Market Perspective we examine the outperformance of US large cap equities over small cap US equities.
Market Perspective September 2014
This document provides an update on corporate earnings growth in Q2 2014. Earnings grew 9.4% while sales increased 4.4%. Low interest rates have helped companies maximize profits through share repurchases and debt repayment. Going forward, sustainable sales growth will be important for further increases in stock prices as interest rates are expected to rise.
Market Perspectives June 2014
Domestic small cap equities are trading at significantly elevated valuation levels. This month we highlight some of the key data points relating to this overvaluation.
Biegel Waller Investment Advisory March 2014 Commentary
In our March 2014 commentary we highlight the importance of corporate earnings to the strength of the economy and the equity markets. The value of revenue growth is discussed as profit margins have already been enhanced by cost cutting and lower capital spending.
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Biegel Waller Investment Advisory March 2014 Commentary
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How to Invest in Cryptocurrency for Beginners: A Complete Guide
Cryptocurrency is digital money that operates independently of a central authority, utilizing cryptography for security. Unlike traditional currencies issued by governments (fiat currencies), cryptocurrencies are decentralized and typically operate on a technology called blockchain. Each cryptocurrency transaction is recorded on a public ledger, ensuring transparency and security.
Cryptocurrencies can be used for various purposes, including online purchases, investment opportunities, and as a means of transferring value globally without the need for intermediaries like banks.
Understanding-Stocks-and-Real-Estate.pptx
Explore the world of investments with an in-depth comparison of the stock market and real estate. Understand their fundamentals, risks, returns, and diversification strategies to make informed financial decisions that align with your goals.
一比一原版宾夕法尼亚大学毕业证(UPenn毕业证书)学历如何办理
挂科购买【微信号:176555708】【挂科购买(UPenn毕业证书)】【微信号:176555708】《成绩单、外壳、offer、真实留信官方学历认证（永久存档/真实可查）》采用学校原版纸张、特殊工艺完全按照原版一比一制作（包括：隐形水印，阴影底纹，钢印LOGO烫金烫银，LOGO烫金烫银复合重叠，文字图案浮雕，激光镭射，紫外荧光，温感，复印防伪）行业标杆！精益求精，诚心合作，真诚制作！多年品质 ,按需精细制作，24小时接单,全套进口原装设备，十五年致力于帮助留学生解决难题，业务范围有加拿大、英国、澳洲、韩国、美国、新加坡，新西兰等学历材料，包您满意。
【我们承诺采用的是学校原版纸张（纸质、底色、纹路）我们拥有全套进口原装设备，特殊工艺都是采用不同机器制作，仿真度基本可以达到100%，所有工艺效果都可提前给客户展示，不满意可以根据客户要求进行调整，直到满意为止！】
【业务选择办理准则】
一、工作未确定，回国需先给父母、亲戚朋友看下文凭的情况，办理一份就读学校的毕业证【微信号:176555708】文凭即可
二、回国进私企、外企、自己做生意的情况，这些单位是不查询毕业证真伪的，而且国内没有渠道去查询国外文凭的真假，也不需要提供真实教育部认证。鉴于此，办理一份毕业证【微信号:176555708】即可
三、进国企，银行，事业单位，考公务员等等，这些单位是必需要提供真实教育部认证的，办理教育部认证所需资料众多且烦琐，所有材料您都必须提供原件，我们凭借丰富的经验，快捷的绿色通道帮您快速整合材料，让您少走弯路。
留信网认证的作用:
1:该专业认证可证明留学生真实身份
2:同时对留学生所学专业登记给予评定
3:国家专业人才认证中心颁发入库证书
4:这个认证书并且可以归档倒地方
5:凡事获得留信网入网的信息将会逐步更新到个人身份内，将在公安局网内查询个人身份证信息后，同步读取人才网入库信息
6:个人职称评审加20分
7:个人信誉贷款加10分
8:在国家人才网主办的国家网络招聘大会中纳入资料，供国家高端企业选择人才
留信网服务项目：
1、留学生专业人才库服务（留信分析）
2、国（境）学习人员提供就业推荐信服务
3、留学人员区块链存储服务
【关于价格问题（保证一手价格）】
我们所定的价格是非常合理的，而且我们现在做得单子大多数都是代理和回头客户介绍的所以一般现在有新的单子 我给客户的都是第一手的代理价格，因为我想坦诚对待大家 不想跟大家在价格方面浪费时间
对于老客户或者被老客户介绍过来的朋友，我们都会适当给一些优惠。
选择实体注册公司办理，更放心，更安全！我们的承诺：客户在留信官方认证查询网站查询到认证通过结果后付款，不成功不收费！
What Lessons Can New Investors Learn from Newman Leech’s Success?
Newman Leech's success in the real estate industry is based on key lessons and principles, offering practical advice for new investors and serving as a blueprint for building a successful career.
Economic trends from a business point of view (May 2024)
Economic trends from a business point of view (May 2024)Інститут економічних досліджень та політичних консультацій
“Amidst Tempered Optimism” Main economic trends in May 2024 based on the results of the New Monthly Enterprises Survey, #NRES
On 12 June 2024 the Institute for Economic Research and Policy Consulting (IER) held an online event “Economic Trends from a Business Perspective (May 2024)”.
During the event, the results of the 25-th monthly survey of business executives “Ukrainian Business during the war”, which was conducted in May 2024, were presented.
The field stage of the 25-th wave lasted from May 20 to May 31, 2024. In May, 532 companies were surveyed.
The enterprise managers compared the work results in May 2024 with April, assessed the indicators at the time of the survey (May 2024), and gave forecasts for the next two, three, or six months, depending on the question. In certain issues (where indicated), the work results were compared with the pre-war period (before February 24, 2022).
✅ More survey results in the presentation.
✅ Video presentation: https://youtu.be/4ZvsSKd1MzE
How to Use Payment Vouchers in Odoo 18.
Every business, big or small, deals with outgoing payments. Whether it’s to suppliers for inventory, to employees for salaries, or to vendors for services rendered, keeping track of these expenses is crucial. This is where payment vouchers come in – the unsung heroes of the accounting world.
Dr. Alyce Su Cover Story - China's Investment Leader
In World Expo 2010 Shanghai – the most visited Expo in the World History
https://www.britannica.com/event/Expo-Shanghai-2010
China’s official organizer of the Expo, CCPIT (China Council for the Promotion of International Trade https://en.ccpit.org/) has chosen Dr. Alyce Su as the Cover Person with Cover Story, in the Expo’s official magazine distributed throughout the Expo, showcasing China’s New Generation of Leaders to the World.
一比一原版美国新罕布什尔大学(unh)毕业证学历认证真实可查
永久可查学历认证【微信：A575476】【美国新罕布什尔大学(unh)毕业证成绩单Offer】【微信：A575476】（留信学历认证永久存档查询）采用学校原版纸张、特殊工艺完全按照原版一比一制作（包括：隐形水印，阴影底纹，钢印LOGO烫金烫银，LOGO烫金烫银复合重叠，文字图案浮雕，激光镭射，紫外荧光，温感，复印防伪）行业标杆！精益求精，诚心合作，真诚制作！多年品质 ,按需精细制作，24小时接单,全套进口原装设备，十五年致力于帮助留学生解决难题，业务范围有加拿大、英国、澳洲、韩国、美国、新加坡，新西兰等学历材料，包您满意。
【业务选择办理准则】
一、工作未确定，回国需先给父母、亲戚朋友看下文凭的情况，办理一份就读学校的毕业证【微信：A575476】文凭即可
二、回国进私企、外企、自己做生意的情况，这些单位是不查询毕业证真伪的，而且国内没有渠道去查询国外文凭的真假，也不需要提供真实教育部认证。鉴于此，办理一份毕业证【微信：A575476】即可
三、进国企，银行，事业单位，考公务员等等，这些单位是必需要提供真实教育部认证的，办理教育部认证所需资料众多且烦琐，所有材料您都必须提供原件，我们凭借丰富的经验，快捷的绿色通道帮您快速整合材料，让您少走弯路。
留信网认证的作用:
1:该专业认证可证明留学生真实身份
2:同时对留学生所学专业登记给予评定
3:国家专业人才认证中心颁发入库证书
4:这个认证书并且可以归档倒地方
5:凡事获得留信网入网的信息将会逐步更新到个人身份内，将在公安局网内查询个人身份证信息后，同步读取人才网入库信息
6:个人职称评审加20分
7:个人信誉贷款加10分
8:在国家人才网主办的国家网络招聘大会中纳入资料，供国家高端企业选择人才
→ 【关于价格问题（保证一手价格）
我们所定的价格是非常合理的，而且我们现在做得单子大多数都是代理和回头客户介绍的所以一般现在有新的单子 我给客户的都是第一手的代理价格，因为我想坦诚对待大家 不想跟大家在价格方面浪费时间
对于老客户或者被老客户介绍过来的朋友，我们都会适当给一些优惠。
选择实体注册公司办理，更放心，更安全！我们的承诺：可来公司面谈，可签订合同，会陪同客户一起到教育部认证窗口递交认证材料，客户在教育部官方认证查询网站查询到认证通过结果后付款，不成功不收费！
真实可查(nwu毕业证书)美国西北大学毕业证学位证书范本原版一模一样
原版定制【微信:bwp0011】《(nwu毕业证书)美国西北大学毕业证学位证书》【微信:bwp0011】成绩单 、雅思、外壳、留信学历认证永久存档查询，采用学校原版纸张、特殊工艺完全按照原版一比一制作（包括：隐形水印，阴影底纹，钢印LOGO烫金烫银，LOGO烫金烫银复合重叠，文字图案浮雕，激光镭射，紫外荧光，温感，复印防伪）行业标杆！精益求精，诚心合作，真诚制作！多年品质 ,按需精细制作，24小时接单,全套进口原装设备，十五年致力于帮助留学生解决难题，业务范围有加拿大、英国、澳洲、韩国、美国、新加坡，新西兰等学历材料，包您满意。
【业务选择办理准则】
一、工作未确定，回国需先给父母、亲戚朋友看下文凭的情况，办理一份就读学校的毕业证【微信bwp0011】文凭即可
二、回国进私企、外企、自己做生意的情况，这些单位是不查询毕业证真伪的，而且国内没有渠道去查询国外文凭的真假，也不需要提供真实教育部认证。鉴于此，办理一份毕业证【微信bwp0011】即可
三、进国企，银行，事业单位，考公务员等等，这些单位是必需要提供真实教育部认证的，办理教育部认证所需资料众多且烦琐，所有材料您都必须提供原件，我们凭借丰富的经验，快捷的绿色通道帮您快速整合材料，让您少走弯路。
留信网认证的作用:
1:该专业认证可证明留学生真实身份
2:同时对留学生所学专业登记给予评定
3:国家专业人才认证中心颁发入库证书
4:这个认证书并且可以归档倒地方
5:凡事获得留信网入网的信息将会逐步更新到个人身份内，将在公安局网内查询个人身份证信息后，同步读取人才网入库信息
6:个人职称评审加20分
7:个人信誉贷款加10分
8:在国家人才网主办的国家网络招聘大会中纳入资料，供国家高端企业选择人才
【关于价格问题（保证一手价格）】
我们所定的价格是非常合理的，而且我们现在做得单子大多数都是代理和回头客户介绍的所以一般现在有新的单子 我给客户的都是第一手的代理价格，因为我想坦诚对待大家 不想跟大家在价格方面浪费时间
对于老客户或者被老客户介绍过来的朋友，我们都会适当给一些优惠。
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Ending stagnation: How to boost prosperity across Scotland
A toxic combination of 15 years of low growth, and four decades of high inequality, has left Britain poorer and falling behind its peers. Productivity growth is weak and public investment is low, while wages today are no higher than they were before the financial crisis. Britain needs a new economic strategy to lift itself out of stagnation.
Scotland is in many ways a microcosm of this challenge. It has become a hub for creative industries, is home to several world-class universities and a thriving community of businesses – strengths that need to be harness and leveraged. But it also has high levels of deprivation, with homelessness reaching a record high and nearly half a million people living in very deep poverty last year. Scotland won’t be truly thriving unless it finds ways to ensure that all its inhabitants benefit from growth and investment. This is the central challenge facing policy makers both in Holyrood and Westminster.
What should a new national economic strategy for Scotland include? What would the pursuit of stronger economic growth mean for local, national and UK-wide policy makers? How will economic change affect the jobs we do, the places we live and the businesses we work for? And what are the prospects for cities like Glasgow, and nations like Scotland, in rising to these challenges?
Fabular Frames and the Four Ratio Problem
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.
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Slides of the month april 2014
- 1. Slides of the Month – April 2014 Experience Insight Impact biegelwaller.com Overview: Dividends are a significant driver of long-term equity returns and possess many benefits, including enhanced total return and favorable tax treatment. However, in our view not all dividend stocks are priced attractively. In today’s low-rate environment, investors have bid up valuations in the traditional “defensive” dividend payers – for example Utility stocks. We see better value in more cyclically oriented stocks, which are positioned to benefit from further economic growth. 1
- 2. Experience Insight Impact The Benefits of Dividends 2 Dividend Yielding Equities: • The reliability of dividends helps protect the downside and can position a “floor” on the prices of dividend paying equities. • Dividends are typically associated with companies that exercise discipline allocating capital. • Dividends have provided 45% of S&P 500 returns since the Great Depression. • Most dividends are tax-advantaged.
- 3. Experience Insight Impact The Power of Dividend Reinvestment 3 To illustrate the power of long-term dividend reinvestment, we highlight the following example: $100 invested on 12/30/88 in the S&P 500 would be worth $677 as of 4/1/14. Accounting for dividend reinvestment that amount would grow to $1,172. This total return is 73% higher than the price only return.
- 4. Experience Insight Impact Not All Dividend Yields are Created Equally 4 • After several years of very low interest rates, investors continue to search for yield. • Accordingly, sectors with traditionally high dividend yields have been bid higher and now trade at relatively expensive valuations given the lower-than-average growth prospects. Investors should be cautious about stretching for yield at all costs, in particular sacrificing earnings growth.
- 5. Experience Insight Impact Defensive Sector Earnings Growth is Well Below S&P 500 Peers 5 Defensive, yield oriented sectors – Utilities, for example – are experiencing below market earnings growth (4.57% vs. 8.68% for all S&P sectors).
- 6. Experience Insight Impact Defensive Dividend Payers are Among the Most Expensive Sectors 6 The PEG ratio is a stock’s price earnings multiple divided by the growth rate of its earnings. The higher the PEG ratio, the more costly a company’s growth. On this valuation metric, the Utility sector looks the most expensive with a median PEG ratio of 2.76x vs. the overall S&P 500 at 1.53x. This compares to more cyclically positioned sectors including Financials, Materials, and Information Technology trading at or below the overall averages. Investors are paying up for yield.
- 7. Opinions expressed in this commentary may change as conditions warrant and is for informational purposes only. Information contained herein is not intended to be personal investment advice for any specific person for any particular purpose. We utilize information sources that we believe to be reliable but cannot guarantee the accuracy of those sources. Past performance is no guarantee of future performance; investing involves risk and may result in loss of capital. Consider seeking advice from a professional before implementing any investing strategy. Experience Insight Impact Disclaimer 7