The document discusses a Stockopedia investment club that was started to encourage staff to think like investors. Members buy units in the club's portfolio monthly via direct debit. The club meets regularly to review the portfolio, market, and vote on 1-3 stock pitches presented using a standardized template. The portfolio focuses on high-quality, high-momentum stocks and has outperformed peer funds since inception, with a bias toward healthcare, technology, and mining shares.
What Went Wrong at Woodford - A Forensic AnalysisStockopedia
The document provides an analysis of Neil Woodford's Equity Income Fund from its inception in 2014 until its closure in 2019. It outlines an agenda to discuss the fund's history, performance analysis based on holdings from 2014-2019, charts of key metrics over time, lessons for investors, and how to analyze one's own portfolio to avoid similar mistakes. The analysis of the initial 2014 portfolio shows that Woodford initially invested conservatively in generally higher quality, value stocks, with a focus on large cap healthcare names. However, he noted plans to also invest a small portion in early-stage, undervalued quoted and unquoted businesses.
The link between risk and reward on the stock marketStockopedia
Ed Page Croft helps private investors explore the link between risk and return through the new Stockopedia RiskRatings and StockRank Styles - available now for every stock in the market.
This document discusses achieving higher returns from lower risk stocks. It summarizes research showing that low volatility stocks have historically outperformed high volatility stocks in terms of risk-adjusted returns. The document advocates using a risk rating system to classify stocks based on volatility into categories like conservative, balanced, adventurous, etc. It shows that more conservative stocks have had higher long-term returns and better performance during market downturns compared to more speculative stocks. The document suggests strategies for investors like focusing on "conservative super stocks" that have attributes like quality, value and momentum to potentially further improve risk-adjusted returns from low volatility stocks.
Building a systematic stock portfolio in only a few hours per yearStockopedia
Ed Page Croft reveals the simple but powerful systematic stock portfolio strategy that has helped him consistently achieve market-beating returns. To access the webinar in full please visit: http://why.stockopedia.com/creating-a-portfolio/
Lamar Van Dusen | Optimal Turnover Revisited : Levels Corresponding to Highes...Lamar Van Dusen
Lamar Van Dusen is explaining the Optimal Turnover Revisited and Levels Corresponding to the Highest Net Return. Lamar Van Dusan provides all financial solutions and he is so talented in his work.
The document discusses a Stockopedia investment club that was started to encourage staff to think like investors. Members buy units in the club's portfolio monthly via direct debit. The club meets regularly to review the portfolio, market, and vote on 1-3 stock pitches presented using a standardized template. The portfolio focuses on high-quality, high-momentum stocks and has outperformed peer funds since inception, with a bias toward healthcare, technology, and mining shares.
What Went Wrong at Woodford - A Forensic AnalysisStockopedia
The document provides an analysis of Neil Woodford's Equity Income Fund from its inception in 2014 until its closure in 2019. It outlines an agenda to discuss the fund's history, performance analysis based on holdings from 2014-2019, charts of key metrics over time, lessons for investors, and how to analyze one's own portfolio to avoid similar mistakes. The analysis of the initial 2014 portfolio shows that Woodford initially invested conservatively in generally higher quality, value stocks, with a focus on large cap healthcare names. However, he noted plans to also invest a small portion in early-stage, undervalued quoted and unquoted businesses.
The link between risk and reward on the stock marketStockopedia
Ed Page Croft helps private investors explore the link between risk and return through the new Stockopedia RiskRatings and StockRank Styles - available now for every stock in the market.
This document discusses achieving higher returns from lower risk stocks. It summarizes research showing that low volatility stocks have historically outperformed high volatility stocks in terms of risk-adjusted returns. The document advocates using a risk rating system to classify stocks based on volatility into categories like conservative, balanced, adventurous, etc. It shows that more conservative stocks have had higher long-term returns and better performance during market downturns compared to more speculative stocks. The document suggests strategies for investors like focusing on "conservative super stocks" that have attributes like quality, value and momentum to potentially further improve risk-adjusted returns from low volatility stocks.
Building a systematic stock portfolio in only a few hours per yearStockopedia
Ed Page Croft reveals the simple but powerful systematic stock portfolio strategy that has helped him consistently achieve market-beating returns. To access the webinar in full please visit: http://why.stockopedia.com/creating-a-portfolio/
Lamar Van Dusen | Optimal Turnover Revisited : Levels Corresponding to Highes...Lamar Van Dusen
Lamar Van Dusen is explaining the Optimal Turnover Revisited and Levels Corresponding to the Highest Net Return. Lamar Van Dusan provides all financial solutions and he is so talented in his work.
This document discusses smart beta investing strategies. It begins with defining smart beta as rule-based investment strategies aimed at achieving superior risk-adjusted returns. Examples of strategies discussed include fundamental indexing and minimum volatility. The document then covers reasons for and against investing in smart beta, distinguishing smart beta from active management. It outlines how smart beta, indexing and active strategies can provide different sources of return. The presentation concludes by discussing considerations for selecting smart beta strategies and allocating among smart beta, indexing and active management.
Netwealth portfolio construction series - Why are ETFs gaining in popularity ...netwealthInvest
Part of Netwealth's portfolio construction webinar series - Vinnie Wadhera from BetaShares presented to an audience on 14th September 2016 about Exchange Traded Funds (ETFs) and strategies on how ETFs can be used in a portfolio.
Taking on Wall Street: A Comparative Study of Strategies Sourced from "The Pr...Quantopian
A unique set of data comprised of strategy returns sourced through traditional means from managers (“the pros”) and from strategies developed on Quantopian’s platform (“the crowd”) is analyzed. We detect distinct groups of strategy styles within the data: In particular, some "crowd" strategies fall into their own clusters distinct from those within the "pro" data set. A few do overlap as well. We go on to analyze the various strategy groups with respect to environmental conditions and risk factors (among other relevant features), teasing out differences in trading styles.
Ultimately we judge how well “the crowd” is doing so far, in terms of being able to compete with the established managers not only in terms of performance but also with respect to risk management and overall novelty and diversification in the trading styles that have emerged. Finally we address general notions (and pitfalls) of building meta strategies from manager return streams.
This presentation was part of QuantCon 2015 hosted by Quantopian. Visit us at: www.quantopian.com.
Netwealth portfolio construction series - Why you should consider investing o...netwealthInvest
Julian Beaumont from Bennelong Australian Equity Partners presented a webinar session on how to invest outside of the top 20 ASX stocks, for Netwealth on May 26, 2016.
"Quant Trading for a Living – Lessons from a Life in the Trenches" by Andreas...Quantopian
It takes hard work, skill and time to develop robust trading models, but that is just the beginning of the journey. The question then is what you can do with it, and how to go about building a career in quant finance.
If your plan is to move beyond hobby trading and build a career in in the professional quant trading field, the work is not over once you have a great model.
This presentation will discuss how to leverage your trading models into building a successful career in quant trading. We will look at the various options available, and their respective merits and faults. Whether you want to trade your own money for a living, find a job in the industry or build your own business, your model design will have to be adapted to your aim. We will discuss what type of models and results there is a market for, how to go about finding investors for your trading, and how the real economics of the business look.
In All About Factors, we cover the basics of what factors are, where we expect them to derive their excess returns from, their advantages and disadvantages and if there is indeed any merit to this approach or if it just another Wall Street marketing gimmick.
After covering the commonly accepted factors basics, we discuss expectations for factor investing, the theory as to why short-term pain must be present for long-term return, and some key considerations in moving from the academic research to creating investible portfolios.
Also explored is the current on-going debate between industry titans Rob Arnott (Research Affiliates) and Cliff Asness (AQR) as to the efficacy of using valuation-based spreads to time factor exposures.
Lastly, we look at some different methods that a retail investor can utilize smart-beta investing, by highlighting some of the current industry techniques for diversifying factor exposures and building a multi-factor portfolio.
The Sustainable Active Investing Framework: Simple, but Not Easy by Wesley Gr...Quantopian
To some, the debate of passive versus active investing is akin to Eagles vs. Cowboys or Coke vs. Pepsi. In short, once our preference for one style over the other is established is can become so overwhelming that it becomes a proven fact or incontrovertible reality in our minds.
We cannot overemphasize that alpha in the market is no cakewalk. More importantly, being smart, having superior stockpicking skills, or amassing an army of PhDs to crunch data is only half of the equation. Even with those tools, you are still only one shark in a tank filled with other sharks. All sharks are smart, all sharks have a MBA or PhD from a fancy school, and all the sharks know how to analyze a company. Maintaining an edge in these shark infested waters is no small feat, and one that only a handful (e.g., we can count them in one hand) of investors has successfully accomplished.
In order too achieve sustainable success as an active investing, one needs both skill and an understanding of human psychology and market incentives (behavioral finance). We start our journey where mine began: as an aspiring PhD student studying under Eugene Fama at the University of Chicago. Let the adventure begin...
"From Trading Strategy to Becoming an Industry Professional – How to Break in...Quantopian
You have created a great trading strategy, backtested, traded it and now you want to take it to the next level. You may find that developing the strategy was just the first of many difficult steps.
With the increased availability of low cost, high quality quant modelling platforms, the field is much more open than it once was. The interest for algorithmic trading his higher than ever and anyone has the potential develop a great trading model.
But having a great trading model is not enough. The work is not done yet.
This presentation will discuss turning your algorithmic trading strategy into a business or a great job, and becoming a professional trader. We’re going to talk about what it takes to move to the next level and where the common pitfalls lay. What kind of strategies are marketable are which are not. The pros and cons of trading your own money and how to go about finding external capital and gaining traction in the business.
Are you ready to take the step?
Finding Alpha from Stock Buyback Announcements in the Quantopian Research Pla...Quantopian
Stock buybacks are at record levels and several studies have established windows of alpha opportunity around stock buyback announcements. In this talk EventVestor founder Anju Marempudi and Quantopian client engineer Seong Lee will discuss buyback trends, analyzing share buybacks data for insights, conducting an event study to measure excess returns around buyback announcements, and finally building a trading algorithm with back-testing using the Quantopian Research platform.
This presentation was part of the QuantCon 2015 Conference hosted by Quantopian. Visit us at: www.quantopian.com.
Quantopian provides this presentation to help people write trading algorithms - it is not intended to provide investment advice.
More specifically, the material is provided for informational purposes only and does not constitute an offer to sell, a solicitation to buy, or a recommendation or endorsement for any security or strategy, nor does it constitute an offer to provide investment advisory or other services by Quantopian.
In addition, the content neither constitutes investment advice nor offers any opinion with respect to the suitability of any security or any specific investment. Quantopian makes no guarantees as to accuracy or completeness of the views expressed in the website. The views are subject to change, and may have become unreliable for various reasons, including changes in market conditions or economic circumstances.
"Snake Oil, Swamp Land, and Factor-Based Investing" by Gary Antonacci, author...Quantopian
BlackRock forecasts smart beta investing oriented toward size, value, quality, momentum, and low volatility to reach $1 trillion by 2020 and $2.4 trillion by 2025. Gary’s talk will show that this growth may not be justified due to these factors' lack of robustness, consistency, persistence, intuitiveness, and investability. Gary will also show that the success attributed to these factors would be better directed toward macro momentum and the short interest ratio.
Netwealth portfolio construction series: Economic Update with Roger MontgomerynetwealthInvest
Part of Netwealth's portfolio construction webinar series - Roger Montgomery, founder and Chief Investment Officer at Montgomery Investment Management presented to an audience on 22nd February 2017 and shared his views on major economic trends currently affecting local and global markets, stocks and sectors best placed for growth and what investors should look for in 2017.
La presentación corresponde al evento:
English version: https://youtu.be/JxOIJmCO1Ao
Versión española: https://youtu.be/owp_txi4erU
Pavel Begun (cofundador de 3G Capital Management) es entrevistado en Value School por Carmen Pérez Baguena, analista senior de Cobas Asset Management.
Pavel y su socio conforman el equipo de análisis de 3G Capital, porque afirma que cuantos menos sean en el proceso de investigación, más pueden controlar el núcleo de decisión.
El entrevistado nos cuenta su trayectoria profesional, que empezó a los 11 años vendiendo fresas y manzanas en un mercado. Después emprendió varios proyectos, hasta llegar a Estados Unidos con 20 años, donde además de continuar con sus iniciativas empresariales se introdujo en el mundo de la inversión. Pavel asegura que simultanear ambas cosas le ha permitido mejorar en los dos campos.
También nos desvela que su filosofía principalmente se centra en buscar las 3G (Good): “buen negocio, buena gestión y buen precio”. Parece una máxima muy sencilla, pero realmente “es un trabajo muy duro y complejo”.
¿Cómo define un buen negocio? Negocios sencillos de entender, con una trayectoria registrada de sostenibilidad en liderazgo, negocios que den buenos retornos sobre el capital invertido (15-20% o superiores). Esto puede aplicarse a cualquier sector, con algunas excepciones. Por ejemplo, las prendas de moda, porque es un sector muy cambiante.
¿Cuál sería el buen precio de compra y de venta? ¿Cómo intentan minimizar el riesgo? Carmen Pérez Baguena no se deja nada en el tintero a la hora de preguntar. Al finalizar su entrevista, comienza la ronda de preguntas de los asistentes y de los conectados vía streaming.
Libros recomendados:
Armas, Gérmenes Y Acero (ENSAYO-CIENCIA) (Jared Diamond)
What Intelligence Tests Miss: The Psychology of Rational Thought (Keith E. Stanovich)
La riqueza y la pobreza de las naciones (David Landed)
Walter Aylett presented to the Senate Group on Aylett & Co, an independent investment management firm founded in 2005. He provided an overview of the firm's capabilities, investment philosophy, process and team. Aylett & Co aims to invest in quality businesses and takes a long-term view. The presentation included discussion of the firm's funds and stock selection approach, as well as their current market view and concerns around short-termism in the market.
This document summarizes an investment management presentation for high net worth individuals and institutions. It discusses hypothetical backtested performance results and limitations, describes Cambria Investment Management's history and services, reviews global market valuations and different asset allocation strategies, and examines the low yield environment. Contact information is provided at the end for anyone interested in learning more.
Netwealth portfolio construction series - Discover cost effective investment ...netwealthInvest
The document summarizes an investment webinar discussing index opportunity funds as an evolved strategy for today's investment climate.
The webinar presented index opportunity funds as having a passive foundation of pooled funds and ETFs for stability and low costs, with an active overlay for added returns. ETFs allow building a globally diversified portfolio cost effectively. Tactical asset allocation is used to allocate between equities, fixed income and commodities depending on the economic cycle.
The economic environment has changed to one of lower growth, higher volatility and lower returns. This favors strategies with downside protection, diversification and lower costs like index opportunity funds.
Alexander_Special Situations Tear Sheet_May 2016Dara Capital AG
Alexander Alternative Capital uses a macro top-down approach to identify growth drivers and risk factors across sectors, industries and the macroeconomy. The investment team then uses bottom-up analysis to select securities for the concentrated portfolio, which is constructed both long and short positions. The strategy aims to deliver asymmetric returns with $3 of profit for every $1 of potential loss by aligning the portfolio with macro themes, drivers, and security selection. Performance statistics from January 2014 to April 2016 show annualized returns of 23.79% and an average monthly return of 1.85% with 86% of months positive.
Systemic Risk in the Asset Management Industry - Michael Mendelson, Principal, AQR Capital Management
Presented at the AQR Asset Management Institute conference, Perspectives: Systemic Risk in Asset Management held on 26 April 2017 at London Business School.
This document discusses contra investing in cyclical stocks. It begins with disclosures about the author and purpose of the presentation. Then it discusses that successful investing requires understanding business, market and economic cycles. It emphasizes having patience and overcoming fear and greed when contra investing. The rest of the document provides examples of case studies of successful contra investments in cyclical sectors like metals, paper, polymers etc. It also lists currently in-favor and not-in-favor sectors for contra investing opportunities.
Smart Beta - Lessons from the Oracle of OmahaCorey Hoffstein
This document summarizes lessons from Warren Buffett's investing approach at Berkshire Hathaway. Some key points:
1) Berkshire significantly outperformed the market over decades with lower risk, due to factor exposures like value, quality and beta rather than stock picking ability.
2) Factor premiums are not guaranteed and vary over time, so a disciplined, diversified approach balancing multiple factors is important to manage risks and stay invested for the long term.
3) Closet index strategies may not truly capture intended factors. Investors need to understand the methodology and holdings to confirm the strategy matches its objectives.
Sargon was a high-growth fintech company based in Australia, New Zealand and Hong Kong founded by Phillip Kingston.
It grew to A$60+ billion in assets and A$55+ million in annual recurring revenue (ARR) within 4 years and was backed by Peter Thiel.
This presentation is titled "1HFY20 Preliminary Results & Analysis" and is the last management presentation from the company covering the period of July 1, 2019 to December 31, 2019 with a forecast out to June 30, 2020 (FY20 = Australian 2020 financial year).
Daily equity market news updates by marketmagnifySelf-employed
The daily newsletter provides an overview of the performance of the Indian equity market on the day. Key points include:
- The Nifty ended down 58 points and the Sensex down 188 points.
- Asian economic growth is expected to remain slow in 2014, with China being a concern.
- Several Indian companies reported quarterly earnings results, with Axis Bank and Biocon reporting profit growth.
This document discusses smart beta investing strategies. It begins with defining smart beta as rule-based investment strategies aimed at achieving superior risk-adjusted returns. Examples of strategies discussed include fundamental indexing and minimum volatility. The document then covers reasons for and against investing in smart beta, distinguishing smart beta from active management. It outlines how smart beta, indexing and active strategies can provide different sources of return. The presentation concludes by discussing considerations for selecting smart beta strategies and allocating among smart beta, indexing and active management.
Netwealth portfolio construction series - Why are ETFs gaining in popularity ...netwealthInvest
Part of Netwealth's portfolio construction webinar series - Vinnie Wadhera from BetaShares presented to an audience on 14th September 2016 about Exchange Traded Funds (ETFs) and strategies on how ETFs can be used in a portfolio.
Taking on Wall Street: A Comparative Study of Strategies Sourced from "The Pr...Quantopian
A unique set of data comprised of strategy returns sourced through traditional means from managers (“the pros”) and from strategies developed on Quantopian’s platform (“the crowd”) is analyzed. We detect distinct groups of strategy styles within the data: In particular, some "crowd" strategies fall into their own clusters distinct from those within the "pro" data set. A few do overlap as well. We go on to analyze the various strategy groups with respect to environmental conditions and risk factors (among other relevant features), teasing out differences in trading styles.
Ultimately we judge how well “the crowd” is doing so far, in terms of being able to compete with the established managers not only in terms of performance but also with respect to risk management and overall novelty and diversification in the trading styles that have emerged. Finally we address general notions (and pitfalls) of building meta strategies from manager return streams.
This presentation was part of QuantCon 2015 hosted by Quantopian. Visit us at: www.quantopian.com.
Netwealth portfolio construction series - Why you should consider investing o...netwealthInvest
Julian Beaumont from Bennelong Australian Equity Partners presented a webinar session on how to invest outside of the top 20 ASX stocks, for Netwealth on May 26, 2016.
"Quant Trading for a Living – Lessons from a Life in the Trenches" by Andreas...Quantopian
It takes hard work, skill and time to develop robust trading models, but that is just the beginning of the journey. The question then is what you can do with it, and how to go about building a career in quant finance.
If your plan is to move beyond hobby trading and build a career in in the professional quant trading field, the work is not over once you have a great model.
This presentation will discuss how to leverage your trading models into building a successful career in quant trading. We will look at the various options available, and their respective merits and faults. Whether you want to trade your own money for a living, find a job in the industry or build your own business, your model design will have to be adapted to your aim. We will discuss what type of models and results there is a market for, how to go about finding investors for your trading, and how the real economics of the business look.
In All About Factors, we cover the basics of what factors are, where we expect them to derive their excess returns from, their advantages and disadvantages and if there is indeed any merit to this approach or if it just another Wall Street marketing gimmick.
After covering the commonly accepted factors basics, we discuss expectations for factor investing, the theory as to why short-term pain must be present for long-term return, and some key considerations in moving from the academic research to creating investible portfolios.
Also explored is the current on-going debate between industry titans Rob Arnott (Research Affiliates) and Cliff Asness (AQR) as to the efficacy of using valuation-based spreads to time factor exposures.
Lastly, we look at some different methods that a retail investor can utilize smart-beta investing, by highlighting some of the current industry techniques for diversifying factor exposures and building a multi-factor portfolio.
The Sustainable Active Investing Framework: Simple, but Not Easy by Wesley Gr...Quantopian
To some, the debate of passive versus active investing is akin to Eagles vs. Cowboys or Coke vs. Pepsi. In short, once our preference for one style over the other is established is can become so overwhelming that it becomes a proven fact or incontrovertible reality in our minds.
We cannot overemphasize that alpha in the market is no cakewalk. More importantly, being smart, having superior stockpicking skills, or amassing an army of PhDs to crunch data is only half of the equation. Even with those tools, you are still only one shark in a tank filled with other sharks. All sharks are smart, all sharks have a MBA or PhD from a fancy school, and all the sharks know how to analyze a company. Maintaining an edge in these shark infested waters is no small feat, and one that only a handful (e.g., we can count them in one hand) of investors has successfully accomplished.
In order too achieve sustainable success as an active investing, one needs both skill and an understanding of human psychology and market incentives (behavioral finance). We start our journey where mine began: as an aspiring PhD student studying under Eugene Fama at the University of Chicago. Let the adventure begin...
"From Trading Strategy to Becoming an Industry Professional – How to Break in...Quantopian
You have created a great trading strategy, backtested, traded it and now you want to take it to the next level. You may find that developing the strategy was just the first of many difficult steps.
With the increased availability of low cost, high quality quant modelling platforms, the field is much more open than it once was. The interest for algorithmic trading his higher than ever and anyone has the potential develop a great trading model.
But having a great trading model is not enough. The work is not done yet.
This presentation will discuss turning your algorithmic trading strategy into a business or a great job, and becoming a professional trader. We’re going to talk about what it takes to move to the next level and where the common pitfalls lay. What kind of strategies are marketable are which are not. The pros and cons of trading your own money and how to go about finding external capital and gaining traction in the business.
Are you ready to take the step?
Finding Alpha from Stock Buyback Announcements in the Quantopian Research Pla...Quantopian
Stock buybacks are at record levels and several studies have established windows of alpha opportunity around stock buyback announcements. In this talk EventVestor founder Anju Marempudi and Quantopian client engineer Seong Lee will discuss buyback trends, analyzing share buybacks data for insights, conducting an event study to measure excess returns around buyback announcements, and finally building a trading algorithm with back-testing using the Quantopian Research platform.
This presentation was part of the QuantCon 2015 Conference hosted by Quantopian. Visit us at: www.quantopian.com.
Quantopian provides this presentation to help people write trading algorithms - it is not intended to provide investment advice.
More specifically, the material is provided for informational purposes only and does not constitute an offer to sell, a solicitation to buy, or a recommendation or endorsement for any security or strategy, nor does it constitute an offer to provide investment advisory or other services by Quantopian.
In addition, the content neither constitutes investment advice nor offers any opinion with respect to the suitability of any security or any specific investment. Quantopian makes no guarantees as to accuracy or completeness of the views expressed in the website. The views are subject to change, and may have become unreliable for various reasons, including changes in market conditions or economic circumstances.
"Snake Oil, Swamp Land, and Factor-Based Investing" by Gary Antonacci, author...Quantopian
BlackRock forecasts smart beta investing oriented toward size, value, quality, momentum, and low volatility to reach $1 trillion by 2020 and $2.4 trillion by 2025. Gary’s talk will show that this growth may not be justified due to these factors' lack of robustness, consistency, persistence, intuitiveness, and investability. Gary will also show that the success attributed to these factors would be better directed toward macro momentum and the short interest ratio.
Netwealth portfolio construction series: Economic Update with Roger MontgomerynetwealthInvest
Part of Netwealth's portfolio construction webinar series - Roger Montgomery, founder and Chief Investment Officer at Montgomery Investment Management presented to an audience on 22nd February 2017 and shared his views on major economic trends currently affecting local and global markets, stocks and sectors best placed for growth and what investors should look for in 2017.
La presentación corresponde al evento:
English version: https://youtu.be/JxOIJmCO1Ao
Versión española: https://youtu.be/owp_txi4erU
Pavel Begun (cofundador de 3G Capital Management) es entrevistado en Value School por Carmen Pérez Baguena, analista senior de Cobas Asset Management.
Pavel y su socio conforman el equipo de análisis de 3G Capital, porque afirma que cuantos menos sean en el proceso de investigación, más pueden controlar el núcleo de decisión.
El entrevistado nos cuenta su trayectoria profesional, que empezó a los 11 años vendiendo fresas y manzanas en un mercado. Después emprendió varios proyectos, hasta llegar a Estados Unidos con 20 años, donde además de continuar con sus iniciativas empresariales se introdujo en el mundo de la inversión. Pavel asegura que simultanear ambas cosas le ha permitido mejorar en los dos campos.
También nos desvela que su filosofía principalmente se centra en buscar las 3G (Good): “buen negocio, buena gestión y buen precio”. Parece una máxima muy sencilla, pero realmente “es un trabajo muy duro y complejo”.
¿Cómo define un buen negocio? Negocios sencillos de entender, con una trayectoria registrada de sostenibilidad en liderazgo, negocios que den buenos retornos sobre el capital invertido (15-20% o superiores). Esto puede aplicarse a cualquier sector, con algunas excepciones. Por ejemplo, las prendas de moda, porque es un sector muy cambiante.
¿Cuál sería el buen precio de compra y de venta? ¿Cómo intentan minimizar el riesgo? Carmen Pérez Baguena no se deja nada en el tintero a la hora de preguntar. Al finalizar su entrevista, comienza la ronda de preguntas de los asistentes y de los conectados vía streaming.
Libros recomendados:
Armas, Gérmenes Y Acero (ENSAYO-CIENCIA) (Jared Diamond)
What Intelligence Tests Miss: The Psychology of Rational Thought (Keith E. Stanovich)
La riqueza y la pobreza de las naciones (David Landed)
Walter Aylett presented to the Senate Group on Aylett & Co, an independent investment management firm founded in 2005. He provided an overview of the firm's capabilities, investment philosophy, process and team. Aylett & Co aims to invest in quality businesses and takes a long-term view. The presentation included discussion of the firm's funds and stock selection approach, as well as their current market view and concerns around short-termism in the market.
This document summarizes an investment management presentation for high net worth individuals and institutions. It discusses hypothetical backtested performance results and limitations, describes Cambria Investment Management's history and services, reviews global market valuations and different asset allocation strategies, and examines the low yield environment. Contact information is provided at the end for anyone interested in learning more.
Netwealth portfolio construction series - Discover cost effective investment ...netwealthInvest
The document summarizes an investment webinar discussing index opportunity funds as an evolved strategy for today's investment climate.
The webinar presented index opportunity funds as having a passive foundation of pooled funds and ETFs for stability and low costs, with an active overlay for added returns. ETFs allow building a globally diversified portfolio cost effectively. Tactical asset allocation is used to allocate between equities, fixed income and commodities depending on the economic cycle.
The economic environment has changed to one of lower growth, higher volatility and lower returns. This favors strategies with downside protection, diversification and lower costs like index opportunity funds.
Alexander_Special Situations Tear Sheet_May 2016Dara Capital AG
Alexander Alternative Capital uses a macro top-down approach to identify growth drivers and risk factors across sectors, industries and the macroeconomy. The investment team then uses bottom-up analysis to select securities for the concentrated portfolio, which is constructed both long and short positions. The strategy aims to deliver asymmetric returns with $3 of profit for every $1 of potential loss by aligning the portfolio with macro themes, drivers, and security selection. Performance statistics from January 2014 to April 2016 show annualized returns of 23.79% and an average monthly return of 1.85% with 86% of months positive.
Systemic Risk in the Asset Management Industry - Michael Mendelson, Principal, AQR Capital Management
Presented at the AQR Asset Management Institute conference, Perspectives: Systemic Risk in Asset Management held on 26 April 2017 at London Business School.
This document discusses contra investing in cyclical stocks. It begins with disclosures about the author and purpose of the presentation. Then it discusses that successful investing requires understanding business, market and economic cycles. It emphasizes having patience and overcoming fear and greed when contra investing. The rest of the document provides examples of case studies of successful contra investments in cyclical sectors like metals, paper, polymers etc. It also lists currently in-favor and not-in-favor sectors for contra investing opportunities.
Smart Beta - Lessons from the Oracle of OmahaCorey Hoffstein
This document summarizes lessons from Warren Buffett's investing approach at Berkshire Hathaway. Some key points:
1) Berkshire significantly outperformed the market over decades with lower risk, due to factor exposures like value, quality and beta rather than stock picking ability.
2) Factor premiums are not guaranteed and vary over time, so a disciplined, diversified approach balancing multiple factors is important to manage risks and stay invested for the long term.
3) Closet index strategies may not truly capture intended factors. Investors need to understand the methodology and holdings to confirm the strategy matches its objectives.
Sargon was a high-growth fintech company based in Australia, New Zealand and Hong Kong founded by Phillip Kingston.
It grew to A$60+ billion in assets and A$55+ million in annual recurring revenue (ARR) within 4 years and was backed by Peter Thiel.
This presentation is titled "1HFY20 Preliminary Results & Analysis" and is the last management presentation from the company covering the period of July 1, 2019 to December 31, 2019 with a forecast out to June 30, 2020 (FY20 = Australian 2020 financial year).
Daily equity market news updates by marketmagnifySelf-employed
The daily newsletter provides an overview of the performance of the Indian equity market on the day. Key points include:
- The Nifty ended down 58 points and the Sensex down 188 points.
- Asian economic growth is expected to remain slow in 2014, with China being a concern.
- Several Indian companies reported quarterly earnings results, with Axis Bank and Biocon reporting profit growth.
This document provides an overview of GoldMoney Inc., a company that operates a digital platform connecting users to physical gold reserves globally. Key points:
- GoldMoney allows users to buy, store, save, spend, and send gold instantly through its platform, removing friction from traditional gold ownership.
- The company operates vaults around the world and uses proprietary technology to provide near real-time gold settlement and payments capabilities.
- Recent metrics show strong growth in user base, gold deposits on the platform, and transaction volumes, demonstrating increasing adoption of GoldMoney's digital gold services.
“Gold should not be viewed as the means to make you rich, but rather, as a means to avoid the debts that can make you poor” -BitGold Inc. May 13, 2015.
"No matter where you live in the world gold has effortlessly held its commodity value over time relative to costs like food and energy that we require as humans, making it one the most important savings tools for most of the human population”.
Our mission is to make gold accessible and useful in digital payments and secure savings.
We're advancing the digital payments revolution by helping people securely acquire, store, and now spend gold with unprecedented simplicity. BitGold accounts are free and can be opened in minutes. We provide users with a secure vault account to purchase and hold gold, the ability to make and receive instant gold payments, and a prepaid card for spending gold at traditional points of sale or converting your gold balance to local currency at any ATM machine. All gold bullion is fully redeemable as 1kg gold bullion bars or 10g GoldCubes®
BitGold takes transparency and accountability seriously. Learn more at Transparency Buying Physical Gold.
A New Global Operating System for Gold BitGold is an internet software service that makes vaulted gold accessible for savings and mobile payments; the first full-reserve ‘online bank’ like platform with e-payments and debit card for sending & spending gold.
BitGold Investor Proposition:
Significant market potential exists across all geographies and all income segments for transaction-accessible savings accounts based on gold as a store of value. GoldMoney believes that it can provide new leadership and innovation in a trillion dollar market by providing a fresh narrative, connecting securely vaulted gold to electronic payment networks that previously did not exist, and by harnessing the connectivity of a growing mobile-internet.
The GoldMoney Proposition is to deliver strong growth in the user and asset base under both brands, building a global network for both savings and transactions. By empowering our clients, and by delivering more value to each individual than we expect to receive in return, we can build a network of lasting relationships in the world's largest commodity-money market. We believe that investing in this relationship can deliver significant value to our shareholders over the long-term, creating a reflexive global-revenue model with a scalable internet financial service, while also benefiting an entire network of stakeholders.
Veda Group Limited reported strong financial results for the full year 2015, with revenue increasing 12.2% and EBITDA growing 12.0% compared to the prior year. Business lines performed well due to growth in consumer risk and identity verification solutions as well as higher value commercial products. Veda will continue pursuing its strategic initiatives of using data and analytics to create customer insights, opening new market opportunities such as comprehensive credit reporting, and delivering innovation.
Epic Research private limited have best technical research team, Our research team provide Daily report on SGX Singapore and SGX Exchange, You can get Daily Favorable Tips & future Strategy for SGX Stocks Market.
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- Artisanal Spirits Company has signed a 10-year lease on a new supply chain facility in Uddingston, Scotland for cask storage, bottling, and order fulfillment. This facility is expected to cost £2-2.5 million to refurbish and has the potential to improve margins by around 2% through increased efficiencies.
- ASC invested £4 million in maturing whisky and other spirit stocks, helping to increase the retail value of its cask holdings by £90 million to £430 million total. It expanded new make spirit agreements covering 275,000 bottles annually and added 1,000 new cask holdings.
- The presentation provides an overview of ASC's business and
The document discusses Mahindra & Mahindra unveiling a new compact SUV called KUV100 powered by a new engine family called mFALCON. It provides technical analysis on M&M stock recommending buying in the range of 1239-1245 with a target of 1270. It also discusses Container Corporation of India board approving new logistics parks with costs of Rs. 174 crore and Rs. 346 crore respectively and provides a technical analysis on CONCOR stock recommending buying in the range of 1305-1312 with a target of 1330. The rest of the document covers various news items, corporate actions, result calendar and disclaimers.
Daily Derivatives Report:19 February 2020Axis Direct
Axis Direct presents daily derivatives report presenting recommendations based on technical analysis. For trading in derivatives visit https://simplehai.axisdirect.in/offerings/products/derivatives
Axis Direct presents daily derivatives report presenting recommendations based on technical analysis. For trading in derivatives visit https://simplehai.axisdirect.in/offerings/products/derivatives
Nifty ended at 6,694.80 down 1.60 points and the Sensex at 22,403.89 down -13.91 points. Economic growth of 6% in FY15 is possible: Chidambaram. Factory activity steady in April, demand tepid: PMI
Axis Direct presents daily derivatives report presenting recommendations based on technical analysis. For trading in derivatives visit https://simplehai.axisdirect.in/offerings/products/derivatives
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Daily Derivatives Report:23 January 2020Axis Direct
Axis Direct presents daily derivatives report presenting recommendations based on technical analysis. For trading in derivatives visit https://simplehai.axisdirect.in/offerings/products/derivatives
Daily Derivatives Report:18 December 2018Axis Direct
Axis Direct presents daily derivatives report presenting recommendations based on technical analysis. For trading in derivatives visit https://simplehai.axisdirect.in/offerings/products/derivatives
Daily Derivatives Report:30 January 2020Axis Direct
Axis Direct presents daily derivatives report presenting recommendations based on technical analysis. For trading in derivatives visit https://simplehai.axisdirect.in/offerings/products/derivatives
Axis Direct presents daily derivatives report presenting recommendations based on technical analysis. For trading in derivatives visit https://simplehai.axisdirect.in/offerings/products/derivatives
Daily Derivatives Report:12 February 2020Axis Direct
Axis Direct presents daily derivatives report presenting recommendations based on technical analysis. For trading in derivatives visit https://simplehai.axisdirect.in/offerings/products/derivatives
MyDeal Investor Presentation - 4th November 2020Paul Greenberg
MyDeal provided an investor presentation summarizing its Q1 FY21 trading update and introducing the company. Gross sales for Q1 FY21 were approximately $56.7 million, up 317% year-over-year, with record active customers of 669,897. Private label brands launched in June 2020 have generated over $1.6 million in gross sales. The presentation also provided an overview of MyDeal's marketplace business model and growth transforming from a daily deals site, noting the Australian online household goods market is expected to increase significantly in coming years.
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Fabular Frames and the Four Ratio ProblemMajid Iqbal
Digital, interactive art showing the struggle of a society in providing for its present population while also saving planetary resources for future generations. Spread across several frames, the art is actually the rendering of real and speculative data. The stereographic projections change shape in response to prompts and provocations. Visitors interact with the model through speculative statements about how to increase savings across communities, regions, ecosystems and environments. Their fabulations combined with random noise, i.e. factors beyond control, have a dramatic effect on the societal transition. Things get better. Things get worse. The aim is to give visitors a new grasp and feel of the ongoing struggles in democracies around the world.
Stunning art in the small multiples format brings out the spatiotemporal nature of societal transitions, against backdrop issues such as energy, housing, waste, farmland and forest. In each frame we see hopeful and frightful interplays between spending and saving. Problems emerge when one of the two parts of the existential anaglyph rapidly shrinks like Arctic ice, as factors cross thresholds. Ecological wealth and intergenerational equity areFour at stake. Not enough spending could mean economic stress, social unrest and political conflict. Not enough saving and there will be climate breakdown and ‘bankruptcy’. So where does speculative design start and the gambling and betting end? Behind each fabular frame is a four ratio problem. Each ratio reflects the level of sacrifice and self-restraint a society is willing to accept, against promises of prosperity and freedom. Some values seem to stabilise a frame while others cause collapse. Get the ratios right and we can have it all. Get them wrong and things get more desperate.
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Falcon stands out as a top-tier P2P Invoice Discounting platform in India, bridging esteemed blue-chip companies and eager investors. Our goal is to transform the investment landscape in India by establishing a comprehensive destination for borrowers and investors with diverse profiles and needs, all while minimizing risk. What sets Falcon apart is the elimination of intermediaries such as commercial banks and depository institutions, allowing investors to enjoy higher yields.
5 Tips for Creating Standard Financial ReportsEasyReports
Well-crafted financial reports serve as vital tools for decision-making and transparency within an organization. By following the undermentioned tips, you can create standardized financial reports that effectively communicate your company's financial health and performance to stakeholders.
Abhay Bhutada, the Managing Director of Poonawalla Fincorp Limited, is an accomplished leader with over 15 years of experience in commercial and retail lending. A Qualified Chartered Accountant, he has been pivotal in leveraging technology to enhance financial services. Starting his career at Bank of India, he later founded TAB Capital Limited and co-founded Poonawalla Finance Private Limited, emphasizing digital lending. Under his leadership, Poonawalla Fincorp achieved a 'AAA' credit rating, integrating acquisitions and emphasizing corporate governance. Actively involved in industry forums and CSR initiatives, Abhay has been recognized with awards like "Young Entrepreneur of India 2017" and "40 under 40 Most Influential Leader for 2020-21." Personally, he values mindfulness, enjoys gardening, yoga, and sees every day as an opportunity for growth and improvement.
Vicinity Jobs’ data includes more than three million 2023 OJPs and thousands of skills. Most skills appear in less than 0.02% of job postings, so most postings rely on a small subset of commonly used terms, like teamwork.
Laura Adkins-Hackett, Economist, LMIC, and Sukriti Trehan, Data Scientist, LMIC, presented their research exploring trends in the skills listed in OJPs to develop a deeper understanding of in-demand skills. This research project uses pointwise mutual information and other methods to extract more information about common skills from the relationships between skills, occupations and regions.
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Optimizing Net Interest Margin (NIM) in the Financial Sector (With Examples).pdfshruti1menon2
NIM is calculated as the difference between interest income earned and interest expenses paid, divided by interest-earning assets.
Importance: NIM serves as a critical measure of a financial institution's profitability and operational efficiency. It reflects how effectively the institution is utilizing its interest-earning assets to generate income while managing interest costs.
In a tight labour market, job-seekers gain bargaining power and leverage it into greater job quality—at least, that’s the conventional wisdom.
Michael, LMIC Economist, presented findings that reveal a weakened relationship between labour market tightness and job quality indicators following the pandemic. Labour market tightness coincided with growth in real wages for only a portion of workers: those in low-wage jobs requiring little education. Several factors—including labour market composition, worker and employer behaviour, and labour market practices—have contributed to the absence of worker benefits. These will be investigated further in future work.
Falcon stands out as a top-tier P2P Invoice Discounting platform in India, bridging esteemed blue-chip companies and eager investors. Our goal is to transform the investment landscape in India by establishing a comprehensive destination for borrowers and investors with diverse profiles and needs, all while minimizing risk. What sets Falcon apart is the elimination of intermediaries such as commercial banks and depository institutions, allowing investors to enjoy higher yields.
[4:55 p.m.] Bryan Oates
OJPs are becoming a critical resource for policy-makers and researchers who study the labour market. LMIC continues to work with Vicinity Jobs’ data on OJPs, which can be explored in our Canadian Job Trends Dashboard. Valuable insights have been gained through our analysis of OJP data, including LMIC research lead
Suzanne Spiteri’s recent report on improving the quality and accessibility of job postings to reduce employment barriers for neurodivergent people.
Decoding job postings: Improving accessibility for neurodivergent job seekers
Improving the quality and accessibility of job postings is one way to reduce employment barriers for neurodivergent people.
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