Pine Street Capital Discussion and Analysis 1 PINE STREET CAPITAL – WHAT RISK TO HEDGE & WHAT TO BEAR? Hedge: market related risks 1. Currently managing a market neutral fund ($32 AUM) In the past the market risk was hedged by shorting or short-selling representative shares of the market index In the past the market riskunder was The alternative hedged by shorting hedging the consideration was or shortselling representativehelp of put market risk with the shares of the market the market
Premium Option Stock market Hedge fund
Capital Structure Practice Problems 1. Hayfin Enterprises has the following operating results and capital structure: Hayfin Enterprises ($000s) | | | Financial Data | | Revenue | $ 6‚000 | Operating Expenses | $ (4‚500) | EBIT (Operating Profit) | $ 1‚500 | | | Debt | $ 1‚200 | Equity | $ 8‚800 | Total Capital | $ 10‚000 | Interest rate on debt = 9% Share price = $25 (MV = BV) The firm is contemplating
Premium Finance Debt Stock market
Capital punishment should be abolished. To what extend do you agree or disagree with this statement? Capital punishment is a way to punish highly committed criminal by legally killing them. Capital punishment is not legalise in all country‚ many country have already outlawed death penalty‚ for examples Australia‚ Canada‚ France‚ Germany‚ Italy‚ Spain‚ Mexico and many more other country. These country sees the bad effect that capital punishment will bring and decided to outlawed it. But then‚ there
Premium Crime Crime Capital punishment
Capital Punishment is a highly controversial and emotional subject in which most people seem to have strong opinions. The debate is by no means new‚ however‚ in my opinion‚ the death penalty is cruel and inhumane. During biblical time‚ capital punishment has been an issue. In writing this paper‚ I intend to argue the topic from a utliitarian point of view using Rawls Priciple of Justice. Utilitarianism revolves around the concept of “the end justifies the means.” It believes that theoutcomes as
Premium Capital punishment Murder Prison
Learning Outcome:- On completion of this unit‚ a student shall be able to: Explain the role of capital budgeting techniques in the capital budgeting process. Calculate‚ interpret and evaluate payback period‚ net present value‚ profitability index and internal rate of return. 9-1 What are the most commonly used capital budgeting procedures? Why is capital-budgeting decision so important? Why are capital-budgeting errors so costly? 9-2 The treasurer of Anthony Press. has projected the cash flows
Premium Net present value Investment Internal rate of return
I. DEFINITIONS VENTURE CAPITAL a 1. The financing provided for start-up‚ often high-risk‚ private business enterprises is called: a. venture capital. b. junk bonds. c. flotation costs. d. initial public offerings. e. financial futures. REGISTRATION STATEMENT b 2. The document(s) filed with the SEC disclosing all material information relating to the firm making an offering of public securities is called the: a. offering prospectus. b. registration statement. c. red
Premium Initial public offering
Industry Analysis: Capital Goods Industry Executive Summary Capital goods is a mature industry with a unique opportunity for expansion and growth in the developing markets. While large‚ diversified conglomerates - the major industry players - have saturated developed markets‚ population and city growth in developing markets have increased demand for food‚ natural resources‚ and infrastructure‚ thereby growing the demand for capital goods‚ with over 8.1% growth per year projected over the next 5
Premium Developed country Investment Developing country
What is ECBCB? Source of funds for corporates from abroad with advantage of lower rates of interest prevailing in the international financial markets longer maturity period for financing expansion of existing capacity as well as for fresh investment Defined as to include commercial loans [in the form of bank loans‚ buyers’ credit‚ suppliers’ credit‚ securitised instruments (e.g. floating rate notes and fixed rate bonds‚ CP)] availed from non-resident lenders with minimum average maturity
Premium Bond Debt Credit
Overview of Working Capital Management After studying this chapter‚ you should be able to: Explain the definition of working capital Understand the two fundamental decision issues in working capital management -- and the trade-offs involved in making these decisions. Discuss how to determine the optimal level of current assets. Describe the relationship between profitability‚ liquidity‚ and risk in the management of working capital. Explain how to classify working capital according to its “components”
Premium Inventory Investment Finance
UDC: 658.14 Keywords: determinants of capital structure – extent of leverage – listed companies in the Czech Republic Determinants of Capital Structure Empirical Evidence from the Czech Republic Patrik BAUER* The modern theory of capital structure was established by Modigliani and Miller (1958). Thirty-seven years later‚ Rajan and Zingales (1995‚ p. 1421) stated: “Theory has clearly made some progress on the subject. We now understand the most important departures from the Modigliani and Miller
Premium Balance sheet Asset Czech Republic