Advantage of the Four-Factor Model over Current Evaluation Techniques A fund’s investment performance is measured by its risk-adjusted return (alpha) which is the return of the fund minus the return of the fund’s benchmark. A fund’s perfect benchmark is a portfolio that (1) is fully diversified and (2) has precisely the same exposures to sources of risk (risk factors) in stock market returns as the fund. Forty years of capital markets’ research indicates that there are four risk factors in returns; a
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onour@api.org.kw or ibonour@hotmail.com Abstracts Results in this paper support evidence of time-varying systematic risk (beta coefficients) for five sectors‚ their securities are traded in Kuwait Stock Market. The paper indicates banks‚ and real estate sectors exhibit relatively wider range of systematic risk variation compared to the other sectors. As higher volatility in risk factor imply additional difficulty in managing and controlling risk‚ then wider range of systematic risk imply more exposure
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Company Stock Project Write-Up Southwest is one of the most growing domestic airlines along with JetBlue Airways and United Airlines. Southwest airline was first established in Texas in 1967. In the start of its business‚ southwest focused only in the Southwest region (that’s where the name came from). With 45 years of service‚ Southwest expands its company to the whole country with more than 3‚400 flights each day. Southwest currently has a total capital of 10‚991 million dollars. In 2011
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As a single mother of four children‚ it is my responsibility to be a positive role model for them. One of my roles is instilling how vital a college education is towards their future‚ which was problematic since I lacked one myself. Therefore‚ because children learn through example‚ making the decision to acquire a college degree was a necessary choice. The challenge began when it was time to decide what field of study to target‚ what type of school to attend‚ and where I envisioned myself in
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Common Risk Factors in the Retu rns on Stocks and Bonds Eugene F. Fama Kenneth R. French Journal of Financial Economics 1993 Presenter: 周立軒 Brief Saying… • This paper identifies Five common risk factors in the return on stocks and bonds – Two stock market factors‚ two bond market factors ‚ one market factor. – The five factors seems to explain all returns in stoc k market and bond market • Except the Low-Grade Bonds Agenda • • • • • Introduction The Steps of the Experiment Data & Variables Main
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Task 2: Positive and negative influences on development In this essay I will be talking about both negative and positive factors that influence development during the different life stages. The different life stages that occur in everyone’s life are infancy‚ childhood‚ adolescence‚ younger adulthood‚ middle age adulthood‚ old age and then end of life. There are two different types of socialisation‚ these are primary and secondary. Primary socialisation comes from your family and/or carers – this
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Topic: Discuss the positive and negative effects of globalization on the world today. The term globalization is the process of transformation of local phenomena into global ones. It is when different countries start to connect together as a whole‚ when people around the world are more linked to each other than ever before‚ when information and money flow more speedily and when goods and services produced in one part of the world are increasingly obtainable in all parts of the world. And it has
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6.Impact on food habit 7.Impact on dress pattern 8.Impact on family 9. Impact on social customs and values 10. Impact on rcommunication and technology 12.Impact on film and literatureeligion 11.Impact on 13. Impact on profession related issues Positive impacts of westernization Due to globalization‚ westernization is spreading out all over the world. Westernization has been placed in different countries because of globalization and needless to say‚ it has had an impact on the lifestyle of Bangladeshi
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for: “Dimensional Fund Advisors” (Case Study HBS 9-203-026) This case uses DFA as a setting to introduce you to the latest research in academic finance‚ as well as to show you how you can turn new findings into productive investment strategies. This case pays particular attention to the cornerstones of the DFA approach: the “size effect” and the “value-growth effect.” To this end‚ the case presents detailed information on recent research in capital markets (particularly the stock market)‚ as well
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The Negative and Positive Effects of Tourism Submitted by Arianne Smith DeVry University Tourism Management‚ Warren John Fall 2011 Abstract The current research paper covers the main effects of global tourism‚ both positive and negative. International tourism is a significant sector of business. For some countries it is one of the main sources of national income. The most important positive economic effects of tourism are as follows: increase in budget revenues‚ production expansion‚ stimulation
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