Hedge Fund Strategy - Equity Long-Short An equity long-short strategy is an investing strategy‚ used primarily by hedge funds‚ that involves taking long positions in stocks that are expected to increase in value and short positions in stocks that are expected to decrease in value. You may know that taking a long position in a stock simply means buying it: If the stock increases in value‚ you will make money. On the other hand‚ taking a short position in a stock means borrowing a stock you don’t
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1. Should Disney hedge its yen royalty cash flow? Why or why not? If so‚ how much should be hedged and over what time period? Yes‚ Walt Disney Company should hedge its royalty cash flow to protect against currency fluctuations. The company has revenues in Yen and does not have expenses in Yen. Thus it would be converting the Yen to Dollar and so is exposed to foreign exchange risk. The value of Yen has declined recently and it is difficult to forecast what the value could be in the future
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Chapter 11 balance sheet hedge. Reducing foreign exchange (FX) exposure by varying the mix of a firm’s foreign currency assets and liabilities. Economic exposure. The effect of FX rate changes on a firm’s future costs and revenues. Exposure management. Structuring a company’s affairs to minimize the adverse effects of exchange rate changes on earnings. net exposed asset position. An excess of exposed assets over exposed liabilities (also called a positive exposure). net exposed liability position
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107-051-1 MITSURU MISAWA OSG CORPORATION: HEDGING TRANSACTION EXPOSURE On Monday‚ April 24th 2006‚ the US dollar fell to a new three-month low against the yen of ¥114.30/$ in Tokyo’s foreign exchange market‚ the lowest rate since January 16th 2006. This was a reflection of trading in New York three days earlier‚ on Friday‚ where the dollar had fallen more than 1.75% against the yen. The depreciation of the dollar against the yen was a direct result of a meeting of the G7 in Washington D.C. on April
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Hedge Funds Class London February 2007 February 9‚ 2007 SECTION 1 Class Agenda Agenda ♦ 9:00 - 10:30 ♦ 10:30 - 10:45 ♦ 10:45 - 12:15 ♦ 12:15 - 1:30 ♦ 1:30 - 2:15 ♦ 2:15 – 3:00 ♦ 3:00 - 3:15 ♦ 3:15 - 4:00 ♦ 4:00 - 4:45 ♦ 4:45 - 5:00 Hedge Fund Basics Coffee Break Basics Continued Lunch Continued Hedge Fund Services Coffee Break Fund of Funds Stuart Trueman Joe Troccolo Tamera Hodges Joe Troccolo Joe Troccolo Hedge Funds & Corp Finance Laurent Charbonnier Wrap-up / Optional Exam
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and compassion.” (Yen Mah xii). Later in Adeline Yen Mah’s life‚ she learned that she could turn all of her hurt and abuse into bravery. In her childhood‚ Adeline was unwanted and lonely. Adeline was mostly lonely at home. Adeline’s self esteem was very low‚ and she even wrote down the word “nothing” as what her best quality was. Being an unwanted child certainly played a role in her low self esteem. For example‚ “I’m afraid I’ve forgotten your Chinese name. Is it Jun-quing?” (Yen Mah 124). To begin
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substantial competitive exposure hedging policy in place. Over the last year (2001 in case study) GM was trying to properly evaluate the risk to the substantial yen denominated assets it held. The value of the yen relative to the dollar was decreasing and GM had considerable exposure to this. In conjunction with this depreciation affecting the unit sales‚ GM has a significant stake in Suzuki‚ Isuzu and Fiji as well as a $500 million bond issue. All this accounts to considerable exposure which should be
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This case shows us that apart from transaction‚ translation and economic exposure to currency risk‚ firms also have the very real strategic impact on their competitive position from competitive exposure. Apart from GM’s exposure to the yen which is reflected in their financial statements‚ their competitive position vis-à-vis Japanese manufacturers is affected by a potentially declining yen. This is because a declining yen reduces the Japanese manufacturers’ $ cost‚ enabling them to pass on some
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Accessory Included: Business plan 1. Charging cable Nokia 6101 plug Moto V3 plug Female USB plug Nokia 8210 plug (charge the unit by PC) Functions "·Solar-energy powered ·Emergency charger for cellphone/MP3/MP4 ·Built-in large capacity battery: 1200mAh ·Super bright LED light ·Indicator light" Features & Spec. "·Built-in battery: polymer 3.7V 1200mAh ·Solar panel: 53×45mm(4pcs) 6V 190mA ·Charging time: 8H(strong sunlight) ·Using time: lighting(60H) ·LED brightness:12000mcd ·Output voltage:DC5
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It was mad love‚” She reflects on the good times‚ “-- Anyway -- he had just gotten divorced from his wife Matilda. -- I landed a celebrity judge spot on ‘The Next Big Diva’ -- Garland became my financial consultant -- I earned over fifteen-million over the next three-years. About three years later‚ Garland‚ and I was sued over a deal we walked out of. We settled that one. -- We made many bad investments -- one after
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