strategies used by the fund. The most well know strategy which hedge fund managers or practitioners undertake was “market neutral arbitrage”‚ thus‚ from this particular trading strategy‚ of course what they are doing is not like what the name suggested “hedging”‚ instead‚ hedge fund participants are trying to speculate from every financial markets. More specific‚ the trading strategy indicates that it take a long position in those securities which was viewed by hedge fund managers as under priced
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MAY 2009 The Case for Small Cap and Value DIMENSIONAL FUND ADVISORS IN RECENT DECADES‚ RESEARCHERS HAVE DISCOVERED a number of interesting results by studying the world’s stock markets. Two of the more interesting discoveries are the size effect and the value effect. The size effect refers to the tendency for small cap stocks to have higher average returns than large cap stocks. Banz (1981) shows that this return difference persists after controlling for systematic (beta) risk‚ and Fama and
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Hill. Henceforth this book will be referred to as BKM. We will cover three cases in this course. Case #1 Markov’s Trilemma (No. UVA-F-1341) http://store.darden.virginia.edu/markovs-trilemma Case #2 Dimensional Fund Advisors‚ 2002‚ HBS (No. 203-026) http://hbr.org/product/dimensional-fund-advisers-2002/an/203026-PDF-ENG Case #3 Ito’s Dilemma (No. UV2481) http://hbr.org/product/ito-s-dilemma/an/UV2481-PDF-ENG I will post class slides and handouts during the course on Canvas. Course Design
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Dimensional Fund Advisors‚ 2002 1. What is DFA’s business strategy? What do you think of the firm? Are the DFA people really believe in efficient markets? Although DFA is dedicated to the principle of efficient market‚ but to some extent‚ the DFA people do not totally believe it. According to the efficient market hypothesis‚ when market efficiency is strong-form‚ stocks always trade at their fair value on stock exchanges and technical analysis‚ fundamental analysis and insider trading analysis
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consider carefully and often will turn to advisement. DFA should be successful if many potential investors know their thorough reputation. Also retirement assets were becoming a dominant part of the mutual fund market. 2. Is Booth’s hunch about the performance-flow relationship in mutual funds changing over time correct? To answer this‚ split the sample into two sub-periods: 1980-2000 and 2001-2009. Using the data in the Spreadsheet Supplement to the case‚ generate a table of the average return and
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FIN 6310 Case Studies Purchase Case Studies (4) • Ivey Case Studies (2) o You will need to create an account at http://cases.ivey.uwo.ca o Then search for and put the following two cases in your cart. Download the spreadsheets. o Burgundy Asset Management: The Wescast Investment Decision o Burgundy Asset Management: …. Spreadsheet o Valuing Wal-mart 2010 o Valuing Wal-mart 2010 – Spreadsheet for students o Checkout
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INVESTMENTS - DFA Case study Introduction Dimensional Fund Advisors‚ further referred to as DFA‚ is an investment company that bases its strategy mainly on academic research and related theories. They work together with proponents of the efficient market hypothesis‚ indicating a relatively strong belief in this theory and thus in efficient markets. However DFA also feels that skilled traders have the ability to contribute to a fund’s profits even when the investment is inherently passive and
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Personnel 21 6.2 Management/Policies 21 6.3 Manpower/People 21 6.4 Material/Inputs 22 6.5 Method/Process 22 6.6 Other/Culture 22 6.7 Cause & Effect ISHIKAWA Diagram 22 7. Data Presentation 23 Demographic Information 23 7.2 Financial Advisors 25 8. Analysis and Findings of the Individual Line Division 28 8.1 Key Performance Indicators 28 8.2 Throughput Time 28 8.3 Labour productivity 28 8.4 Theoretical Minimum 28 8.5 Efficiency 28 8.6 Bottleneck Identification 28 9. Analysis
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National Chengchi University Department of Finance ETP Graduate Investments Fall 2010 Case Discussion Questions Instructor: Professor Edward H. Chow 周行一 Case study: financial bubble Case: Trouble with a bubble (9-808-067) 1. Why did Irving Fisher believe that stock prices had reached a permanently high plateau? 2. Why did the stock market crash in 1929? 3. Why did influential individuals like Fisher‚ Keynes and Rockefeller believe that the downturn would only be temporary? Case
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Grove Street Advisor Case As a Grove Street Advisor I would recommend to put our money in top –tier funds. In exhibit 6.10‚ GSA’S result for the last three years shows the Net IRR increases over the years. Investing in California Emerging Venture fund I‚II‚III shows a profit in the Net IRR.For Instance‚ in 1999 the investment multiple is 79x more than the other two years‚ but the IRR has decreased over the years. Investing in CEV venture fund is the best decision to make because although the capital
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