The Disciplined Portfolio
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The document outlines an investment strategy focused on managing risks through a rules-based approach. It advocates focusing portfolio holdings between 10-15 stocks and ETFs in mid to large cap companies. The strategy uses a hybrid top-down and bottom-up approach to select sectors and securities. Specific rules are provided for when to buy and sell based on fundamental analysis of earnings, revenue and technical indicators. The goal is to participate in market strength while protecting gains and managing declines through strict selling discipline including stop losses.
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3) He focuses on identifiable setups and knows the logic for every potential entry and exit in advance, based on market dynamics rather than anticipated profits/losses.
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weigh difficult tradeoffs.
The Fund’s strategy is based on utilizing a proprietary intellectual framework (GLM Analytics) of forecasting, research, portfolio simulation and valuation models to evaluate when to buy or sell stocks using over 100 factors. This intellectual framework allows the Portfolio Manager to manage the Fund unencumbered by emotions or inherent bias.
GLM Analytics is Eiα’s proprietary systematic research process using quantitative techniques to capitalize on opportunities from mis-priced fundamentals. It is an approach built upon depth, breadth and diversification. GLM Analytics is an adaptive and repetitive process brings together the latest in portfolio management techniques and technology with the traditional fundamental, technical and qualitative analysis to navigate the ever-changing market environments to achieve the highest returns for investors.
EIα All Weather Alpha Fund I L.P. strategy pursues four primary objectives:
1. Long-term capital appreciation in excess of market indices (S&P 500)
2. Generating income from dividend or interest on securities
3. Capital preservation
4. Limitation of downside risk.
Respectfully,
Andrew M. Middlebrooks
CEO/CIO & General Partner
EIα Alpha Partners Fund Management, LLC
EIα All Weather Alpha Partners, LLC.
EIα All Weather Alpha Partners Fund I, L.P.
C- 248.990.1938
E- andrew.middlebrooks@eiaalphapartners.com
Fundamental Principles of Portfolio and Investment Management Analysis
Portfolio and Investment Management is a technique to make decisions for business growth by considering objectives and balancing risk against performance.
Chapter 05
This document discusses key concepts related to investment policy statements and asset allocation. It defines asset allocation as deciding how to distribute wealth among asset classes. The four steps in the portfolio management process are outlined. Asset allocation is identified as the major factor driving portfolio risk and return. Cultural differences can influence asset allocation strategies across countries.
NCE - NISM Prep .pptx
The document provides an overview of the NISM Research Analyst Certification Examination. It discusses the exam preparation, what topics will be covered, and how to study for and pass the exam. Some key points:
- The exam covers topics like economic analysis, industry analysis, company analysis both qualitatively and quantitatively, and valuation.
- Studying the NISM material, textbooks, and using online resources like mock tests on the NISM portal are recommended for preparation.
- The exam should not be seen as a test but as an opportunity to learn lifelong skills in financial analysis that can help one's career. Understanding of concepts is more important than rote memorization.
- Various valuation approaches
SECTION V - CHAPTER 32 - Forerunners to Behavioural Finance.pdf
This document discusses different investment strategies including momentum strategies, mean reversion strategies, and value investing. Momentum strategies seek to take advantage of short-term price movements, while mean reversion strategies assume prices will revert back to a stable trend. Value investing picks stocks trading below their intrinsic value, believing the market overreacts and offers opportunities. The document also discusses how value investing works by finding "secret sales" on stocks trading at a discount to their true value. Finally, it notes that constant financial news reporting can create "noise" that "noise traders" react to, while rational investors focus on their own analysis.
Ram Presentation
Revolution Asset Management offers a hedged equity strategy that seeks to mirror benchmarks like the CBOE Put Index. The strategy maintains a long position in equities and carefully selected hedges, adjusting the hedge monthly. It aims to outperform the market with significantly less risk through consistent hedging. The portfolio managers have extensive experience in equities, derivatives, and risk management. They employ strategies like put writing, buy writes, and volatility spreads to generate premiums and lower portfolio risk.
Aikido Masterclass - Starting Your Algorithmic Investing Journey.pdf
A deep dive into quantitative investing.
- What is quantitative investing?
- Exploring factor investing? (what are they?)
- Types of quantitative strategies?
- Managing Risk
- Live demo: start quant investing with Aikido Finance.
Perspectives from Buy Side
The art of Equity Investing
About EduPristine
Trusted by Fortune 500 Companies and 10,000 Students from 40+ countries across the globe, EduPristine is one of the leading Training providers for Finance Certifications like CFA, PRM, FRM, Financial Modeling, Business Analytics etc. EduPristine holds a profound history in training Risk Professionals across the globe. It has been an International Authorized Training provider for FRM & PRM trainings since past 4 years and has helped 250+ FRM aspirants clear the Exam. It is Registered with GARP & CFA Institute as an Approved Provider of Continuing Professional Education (CPE) credits.
http://www.edupristine.com/ca
Deal Point Merrill Welcome
DealPoint Merrill provides concise summaries of investment opportunities in 3 sentences or less:
DealPoint Merrill specializes in acquiring undervalued real estate assets and implementing value-added strategies like redevelopment and adaptive reuse to generate returns. They focus on multi-tenant retail properties, apartments, and self-storage facilities that can be purchased below replacement cost and stabilized within 3 to 5 years. DealPoint Merrill aims to protect investor capital through conservative investment strategies while also achieving strong risk-adjusted returns.
Solid Research Solid Advice (Equity)
This presentation gives you a lot of ideas on how to consistently outperform markets and earn a consistent and growing ROI (Return on Investment) on your investments.
LECT-9-BUSINESS PORTFOLIO ANALYSIS.pptx
PORTFOLIO RESTRUCTURING/BUSINESS PORTFOLIO ANALYSIS:
Large diversified organizations basically use combination strategy. For example: an organization may simultaneously seek growth through the acquisition of new businesses, employ a stability strategy for some of it existing businesses and divest of any other business which runs in loss.
It is very complicated to identify a consistent strategy for large diversified organizations, because a number of different business-level strategies need to be coordinated to achieve overall organizational objectives.
Business portfolio models are tools for analyzing: the relative position of each of an organization’s businesses in its industry & the relationships among all the businesses of the organization.
The well-known approaches to develop business portfolio include: BCG Matrix, GE 9 Cell, 7s Framework & Balance Score Card.
BCG Matrix is also known as BCG Growth-Share Matrix.
It states that the organization should have a balanced portfolio of businesses such that some generate more cash than they use and can support other businesses that need cash to develop & become profitable.
The role of each business is determined on the basis of two factors: the growth rate & market share
The vertical axis indicates the market growth rate which is the annual growth percentage of the market (current or forecasted) in which the business operates.
The horizontal axis indicates the market share dominance or relative market share. It is computed by dividing the firm’s market share (in units) by the market share of the largest competitor.
The matrix is the combination of rows & columns. The growth-share matrix has four cells.
A star is the market leader in a high growth market (HMS & HMG). They are question mark business that become successful.
The organization has to spend a great deal of money keeping up with the market’s growth rate & fighting off competitor’s attack.
Stars are often cash using category rather than cash generating. They are profitable units and provide high ROI as compared to others.
Hold strategy is maintained for this success and benefit from market growth by means of a Star.
Question mark is also known as problem child as it operates in high growth market, but low relative market share (LMS & HGR).
The term question mark or problem child is well chosen, because the organization has to think hard about whether to keep investing funds to become a star or it comes down to dog category.
Most business start off as question marks, in that they enter in a high growth market in which there is already a leader.
A question mark generally requires the infusion of a lot of funds to keep adding plant, equipment, personnel to keep up with fast growing market & it wants to overtake the leader.
Build strategy is appropriate for question mark as it increases share inorder to become a star by creating a new brand and a new target audience.
Question mark is also known as problem child as it operates in high growth.
Quantopian is Launching a Crowd-sourced Hedge Fund
Quantopian is launching a crowd-sourced quant hedge fund that will identify high-performing algorithmic trading strategies on its platform and construct a portfolio combining the best strategies. To select strategies, Quantopian will evaluate strategies based on quantitative metrics like Sharpe ratio, volatility, maximum drawdown and consistency of returns. Strategies will be ranked and a composite "Q score" assigned. The portfolio will be constructed considering cross-strategy correlations and risk exposures. Performance will be rigorously monitored over time. Quantopian aims to attract the best quant talent by maintaining an open community platform and transparent, meritocratic process for inclusion in the fund.
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Introduction to Wealth Management Industry by Miles Software
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【业务选择办理准则】
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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！
Industrial Tech SW: Category Renewal and Creation
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[To download this presentation, visit:
https://www.oeconsulting.com.sg/training-presentations]
This PowerPoint compilation offers a comprehensive overview of 20 leading innovation management frameworks and methodologies, selected for their broad applicability across various industries and organizational contexts. These frameworks are valuable resources for a wide range of users, including business professionals, educators, and consultants.
Each framework is presented with visually engaging diagrams and templates, ensuring the content is both informative and appealing. While this compilation is thorough, please note that the slides are intended as supplementary resources and may not be sufficient for standalone instructional purposes.
This compilation is ideal for anyone looking to enhance their understanding of innovation management and drive meaningful change within their organization. Whether you aim to improve product development processes, enhance customer experiences, or drive digital transformation, these frameworks offer valuable insights and tools to help you achieve your goals.
INCLUDED FRAMEWORKS/MODELS:
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2. IDEO’s Human-Centered Design
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6. Doblin’s Ten Types of Innovation
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9. Christensen’s Disruptive Innovation Theory
10. Blue Ocean Strategy
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12. Design Sprint Framework
13. The Double Diamond
14. Lean Six Sigma DMAIC
15. TRIZ Problem-Solving Framework
16. Edward de Bono’s Six Thinking Hats
17. Stage-Gate Model
18. Toyota’s Six Steps of Kaizen
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20. Design for Six Sigma (DFSS)
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PwC’s Digital Transformation Framework
Cisco’s Digital Transformation Framework
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The Disciplined Portfolio
- 1. The Disciplined Portfolio A Rules Based Investment Strategy to Grow Capital and Manage Risk Nadeem A Mian Vice President & Investment Advisor PACE Securities Corp. nmian@pacesecurities.com
- 2. Investment Philosophy “The essence of investment management is the management of risks, not the management of returns.“ - Benjamin Graham
- 3. Mandates & Guidelines • Focused Portfolios • 10-15 names & ETF’s • Mid to Large Cap Focus • Liquidity is important • Actively Managed • Portfolios are re-evaluated frequently for new ideas and sell candidates • Willingness to move into cash when market conditions dictate such. • Focus on Leadership sectors • Will only recommend sectors that are participating in market advance
- 4. Hybrid Approach • Consider the whole picture • Market and sector forces account for 80% share price movement • But investors spend 80% of their time analyzing the individual company level • Company fundamentals account for only 20% • Utilize a hybrid Top-Down and Bottom-Up approach
- 5. Methodology Manage Exposure – Top Down Security Selection – Bottom Up When to Buy…When to Sell What to Buy…What to Sell Assess Market & its Direction Earnings & Revenue Analysis Quantitative & Technical Analysis “Smart Money” Assessment Focus on Leadership Sectors Leadership – Best of Breed Willingness to move to Cash New Products, Management & Others
- 6. Buying Rules Fundamental Analysis: • Accelerating growth in revenue, cash flows and earnings • Positive earnings surprises and guidance vs market expectations • Improving gross margins • Return on Equity ratio of 17%+ Quantitative & Technical Analysis: • Improving institutional sponsorship • Improving relative strength vs. its sector or the market • Increasing volume of trade on positive days (accumulation) • Low volatility price patterns during market weakness
- 7. When Buy & Hold goes wrong??? • A- Bearn Sterns upgrades to outperform • B- Canaccord upgrades to outperform • C-RBC Capital Markets upgrades to Sector Outperform • D- Citigroup upgrades to Buy • E- RBC upgrades to Top Pick • F- Hudson Securities reiterates • Buy • • G- Barclays downgrades to underweight A B C D E F G
- 8. Selling Rules • Buy, Hold & SELL! – Hold winning positions and sell losing positions • Study overall market direction using Quantitative & Technical Analysis. • No new positions during downturn. – Will not try to “Catch the Falling Knife” • Limit all losses to ~10% by implementing stop losses on purchases; this price never get adjusted down. • Raise sell limits as stock moves higher. – As profit positions start to roll over • Consider using Reverse ETF’s and option hedging strategies during downturn.
- 9. In Summary – A Strategy for all Investors • Management of Risk is the first priority • Rules-based process encourages disciplined and structured habits, while reducing emotional decisions • Leadership style is evergreen – allows investors to participate in market strength when necessary • Cash can be King - stringent selling discipline allows for protecting gains and managing through pervasive declines
- 10. Disclaimer This commentary is provided as a service to select recipients for information purposes only and is not a solicitation to buy or offer to sell any securities. The information contained herein is from sources we believe to be reliable but we cannot guarantee its accurate or completeness. The comments and opinions expressed are general in nature and reflect the views of the author. Always consult a qualified investment professional before taking action on any particular position or strategy to make sure it is right for you. PACE Securities Corp. is wholly owned by PACE Savings and Credit Union Limited. Member: Canadian Investor Protection Fund / Investment Industry Regulatory Organisation of Canada