Returns 1 RETURNS Prices and returns Let Pt be the price of an asset at time t. Assuming no dividends the net return is Pt Pt − Pt−1 −1= Rt = Pt−1 Pt−1 The simple gross return is Pt = 1 + Rt Pt−1 Returns 2 Example: If Pt−1 = 2 and Pt = 2.1 then 2.1 Pt 1 + Rt = = = 1.05 and Rt = 0.05 Pt−1 2 Returns 3 The gross return over k periods (t − k to t) is 1 + Rt (k) := Pt−1 Pt−k+1 Pt Pt ··· = Pt−k Pt−1 Pt−2 Pt−k = (1 + Rt ) · · · (1 + Rt−k+1 ) Returns are • scale-free‚ meaning that they do not depend
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RESEARCH BULLETIN October 2012 Longer-Term Use of Opioids With opioid misuse a top public health problem in the United States‚ this report examined longer-term use of narcotics in 21 states and how often recommended treatment guidelines for monitoring injured workers with longer-term use were followed by physicians. The monitoring included services‚ such as drug testing and psychological evaluations‚ which can help prevent opioid misuse by injured workers that could result in overdose deaths
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and hence the riskiness of a financial asset is measured in terms of the riskiness of its cash flows. (2)The riskiness of an asset may be measured on a stand-alone basis or in a portfolio context. An asset may be very risky if held by itself but may be much less risky when it is a part of a large portfolio. (3)In the context of a portfolio‚ the risk of an asset is divided into two parts: diversifiable risk (unsystematic risk) and market risk (systematic risk). Diversifiable risk arises from company-specific
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World War. The causes are much more complex than those of the Second World War and include short‚ intermediate and long term factors that all ended to cause the July Days in 1914. These factors include militarism‚ nationalism‚ imperialism‚ the alliance system‚ and industrialization as the long term causes. The intermediate causes included the crises in the Balkans and the short-term trigger for the war was the assassination of the Archduke Franz Ferdinand in the Sarajevo‚ the heir to the throne of
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This paper is on the The Long Term Causes of the French Revolution. It will explain events that leaded up to the revolution and how they occured and caused the great revolution to happen. Louis XVI‚ who was of the royal house of Bourban‚ became the absolute monarch of France when his grand father Louis XV died. When Louis the XVI became king‚ France was having a lot of problems‚ and was changing very fast. So France needed a strong leader to make wise decisons and to deal with problems with
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Impact of growth in E-retailing on general consumer market E-commerce in recent times has been growing rapidly across the world. According to Report of Digital–Commerce. Industry sources indicate that this growth can be sustained over a longer period of time as e- commerce will continue to reach new geographies and encompass new markets. E-commerce means sale or purchase of goods and services conducted over network of computers or TV channels by methods specifically designed for the purpose
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a job at Boeing‚ and looking into various other art colleges [not collages]‚ to name a few‚ I have found that the Art Institute of Seattle has just the programs I’m looking for and just what I need to be successful at my goals. It has been a life-long [add hyphen] dream of mine to put my imagination‚ with my world and characters‚ into life-like [add hyphen] animation. I would like to create video gaming with three dimensional modeling as well as flash animation with thrilling story-lines that appeal
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well-intentioned‚ it was badly applied‚ and had many negative consequences. People suffered in many ways due to its unforeseen effects- people lost their jobs‚ lost money‚ and many even died of alcohol poisoning from tainted products sold on the black market. Prohibition also overcrowded jails and clogged up our justice system with nonviolent offenders- ensuring that violent criminals’ cases wouldn’t be processed with the proper attention to detail and allowing some to walk free. The lasting effects of
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E-Commerce:The Indian Market Scenario Author:Gaurav Karmarkar In simple terms‚e-commerce(electronic-commerce) refers to exchange of goods that takes place online i.e via the internet.Based on valuation‚75% of the e-commerce in India is travel related(airline tickets‚railway tickets‚hotel bookings etc) while actual online shopping accounts for a mere 12-13%.The present day growth of the Indian e-commerce market is marked at about 30% which is nearly more than thrice that of the average 8-10%
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The capital gains yield plus the dividend yield on a security is called the: A. geometric return. B. average period return. C. current yield. D. total return. 2. The expected return on a security in the market context is: A. a negative function of execs security risk. B. a positive function of the beta. C. a negative function of the beta. D. a positive function of the excess security risk. E. independent of beta. 3. A capital gain occurs when: A. the selling price is less than
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