... AUTHOR : MICHAEL M. POMPiaN BOOK REVIEW OF : BOOK REVIEW OF : PREPARED BY : ASHISH SHARMA PREPARED BY : ASHISH SHARMA 2014 2014 Behavioral Finance and Wealth Management Author Information “Michael M. Pompian, CFA, CFP, is a partner at Mercer Investment Consulting, a firm serving institutional and private wealth clients. Prior to joining Mercer, he was a wealth management advisor with Merrill Lynch and PNC Private Bank, and served on the investment staff of a family office. Pompian is a Chartered Financial Analyst (CFA), a Certified Financial Planner (CFP), and a Certified Trust Financial Advisor (CTFA). He is also a member of the CFA Institute (formerly AIMR) and the New York Society of Security Analysts (NYSSA). He holds a BS in management from the University of New Hampshire and an MBA in finance from Tulane University. Pompian is a regular speaker on the subject of behavioral finance and has published several articles on the subject. He is married with three sons and can be reached at michael.pompian@mercer.com. “ Michael M. Pompian describes various biases which we can see in human beings , also tells about various experiments on human beings in his book “ BEHAVIOURAL FINANCE AND WEALTH MANAGEMENT “ and tells “HOW TO BUILD OPTIMAL PORTFOLIOS THAT ACCOUNTS FOR INVESTOR BIASES “ The book is published by John wiley and sons, inc. ,Hoboken , New jersey. Published simultaneously in Canada. The book was published in the year 2006 . ...
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...finance TEST BANK Chapter 1 Introduction 1. Which of the following is the primary objective of a firm? A. employees' benefits B. satisfaction of customers C. satisfaction of suppliers D. prompt payment to creditors * E. maximize stockholder wealth 2. Financial risk involves ___. A. fluctuation in exchange rates B. different interest and inflation rates C. balance of payments position D. A and B * E. A, B, and C 3. Three sweeping changes include ___. A. the end of Cold War B. industrialization and growth of the developing world C. the creation of the North American Trade Agreement D. increased globalization * E. A, B, and D 4. Managers are generally defined as ___. A. stockholders * B. agents C. creditors D. suppliers E. customers 5. Which of the following is not one of seven principles of global finance? A. market imperfection B. risk-return tradeoff C. portfolio effect D. comparative advantage * E. company advantage 6. Incentives for multinational company managers include the following except ___. A. stock options B. bonuses C. perquisites D. salary increases * E. vacation 7. Environmental factors affecting international operations are as follows except ___. A. foreign customs B. foreign economic factors C. foreign political situations D. foreign legal aspect * E. international distance 8. Three major risks in international business are ___. A. political, financial and weather ...
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...utilizing its collection-make the true meaning of the library as an INFORMATION SERVICE. The history was silent regarding the year in which the school actually started to have a library. II. The Old System The business functions of the libraries are the borrowing/loaning and returning of books. They record the students who entered the library using a log book in which students write down respective names and courses. It is to be noted that a borrower’s card is given to all library users at the beginning of the school year. In borrowing, students are expected to present their borrower’s card to the librarian assigned (for writing the book title and stamp the due date therein). After that the student/s can already take home the book borrowed. On returning of books, the student/s should make sure that the card was signed by the librarian before getting it back. III. The Problem So it is evident that the library has a problem on recording of these transactions because operating on a manual way is very inefficient from the perspective of the system analysts. As much as possible, every employee as well as the students want a very efficient and fast way of loaning and borrowing of books. In line with this, in order to operate...
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...be a white collar or a manager in a company? Do you want to be a teacher in a school? Or do you want to be an actor or actress? I will say no. I have my own dream job even it looks like ordinary – an owner of a special store. My special store is a combination of a coffee shop and bookstore. We serve drinks, desserts, and all kinds of books. We also serve wireless network for all of our customers, they can bring their laptop here, and we will provide free desserts to our customers every three hours. People can come to this store for relaxing or studying. Imagine that you come to a store and buy a cup of your favorite drinks, then, you sit at the corner and pick one of your favorite books from the bookshelf, and enjoy both of them in your remaining time. Will it sound amazing? That is what I want to do during the rest of my life. If you do not put your dream into action, the dream would only be a dream, it will not become a reality. For achieving my dream, I have to complete my Bachelor’s degree first. My major in my university is finance, and this is relevant to my future job. I can take some major courses about finance first cause manage finances is the basic skill to start my own business. And I can also take some management and marketing courses to prepare for my future job. During my university life, I have to study hard and try my best to obtain scholarships or I can do some part-time jobs in the school to earn some money because I can deposit this money as my capital in...
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...inception of this bookstore, much has changed in the industry as it pertains to the way books are printed. Technology has afforded many readers the ability to purchase a digital print of a book instead of actually buying a book or purchasing the book online at a fraction of the cost. This technique caused the bookshop to lose customers as well as money. To counteract this development the owners decided to implement some changes. The Phases In order for any organization to implement change, there are certain phases that employees should be walked through. Failure to do such will result in an atmosphere of further resistance. Though resistance is inevitable when it concerns change in the workforce, it has a way of escalating when the phases are not incorporated into the plan. Three phases that should be implemented in the revamping of an organization is turnaround, tools and techniques, and, transformation. The first phase, which is involves a turnaround deals with the improvement of an organizations finances. In improving finances there is an evaluation as to what is causing the decrease in the financial aspect of the organization. In this stage it is important to thoroughly examine every aspect of the organization to make sure that the proper approach is being taken. Once a remedy has been prescribed for the problem some sort of improvement will be recognized as pertains to the finances. The second phase, tools and techniques aims at restructuring and improving the...
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...National University Bachelor of Business Administration (Honours) or B.B.A. (Honours) Degree Department of Accounting, Management, Marketing, Finance & Banking Second Year Term Paper Guidelines: (1) Each Department shall form a Term Paper Committee consisting of all teachers of the Department, to monitor the overall supervision of the preparation of Term Papers. The Head of the Department shall be the ex-officio Chairman of the Committee. (2) One student shall submit three (3) copies of Term Paper, first copy for the Supervisor, second copy for Second Examiner and third copy for the Controller of Examination of the National University. (3) The Committee shall select a list of Term Paper Topics during the first month of starting the classes of the second year of BBA (Honours). The Term Paper Topic should be selected on an area only from the major subjects of a student at First Year or Second Year. The number of topics shall be at least ten (10) and shall not be more than 20 (twenty) in total. One Chapter Heading of a Major Subject may be customized for a topic of the Term Paper. (4) Term Paper shall be prepared in English by each student individually and every student shall be assigned under a Supervisor for preparing a Term Paper. (5) The Committee shall assign a Term Paper Topic randomly to the students and shall also select the Supervisor and the Second Examiner randomly from the teachers of the concerned Department. The students of a Department shall be primarily...
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...Northlake Bookstore: Benchmarking for Performance Evaluation By: Manuel Garza Hugo Hinojosa Graciela Rodriguez Jose Garcia Alejandro Arizpe Carlos Arizpe Summary of Facts Upon assessment of the FY2004 financial information, Wendy Wiley, Northlake Bookstore’s manager, identified the first ever drop in book sales over the previous quarter. After identifying the drop in sales, Wendy turned to Chuck Irwin, the Vice Chancellor of Finance for Northlake University. He mentioned that Wendy should conduct a benchmarking analysis in order to identify the deficiencies that led to the drop in book sales. In addition, Chuck also asked Wendy to develop a set of short-term performance goals and measurements for future evaluations. Northlake is a private university located in the Midwest U.S. Annual enrollment is estimated at 12,700 students. Northlake is overwhelmingly comprised of undergraduate students. Over 60% of the university’s revenues come from student tuitions, with the majority of the remaining 40% stemming from donations and gifts. Chucks, the Vice Chancellor, is worried that the donations and gifts have decreased dramatically during the current year. He believes this is due to the current uncertain economic conditions and the stock market’s erratic performance. Wendy has been the bookstore’s manager for 7 years now. She previously worked as a Wal-Mart sales manager where she acquired15 years of experience in...
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...The book that I got the privilege to read was ‘Good to Great’ by Jim Collins. Although I only received a short amount of time to look through bits and pieces of the book the chapters in which I did read gave me a lot of knowledge which is always a good thing because not knowing one piece of information could alter your entire life but knowing it could help you forever. First let me give you a little background information on the author. Jim Collins is a business consultant, author, and business lecture. He originally studied mathematics at Stanford University and then became a consultant afterward later on becoming a manager at another company. Inside of the book Jim Collins talks about a lot of characteristics, values and traits that are needed...
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... INTRODUCTION In today’s modern age where computer has become a way of life, it is evident that a majority of country’s institution still do not adapt high technology. Particularly in some schools, library transactions are still done on paper. We all know that modern school libraries are operating at great pace striving to serve as many students as possible with the best of their abilities. But as the years rolled by, the number of study has grown and the manual method of managing student and book records is no longer practical. A Library Management System is a system that makes use of information technology to perform managerial objects. The main goal of a library management information system is to store, organize, share and retrieve vital information needed to perform daily operational functions of the library. St. Matthew Academy of Cavite does not have one. Since library has a very large number of books and large number of members, it is impossible for librarians to handle day to day activities manually. Therefore, a library management system is used to facilitate the tasks in the library. With growing population and high demand of students, St. Matthew Academy of Cavite is in need of such system. And so this is the reason why the proponents came up with the idea of developing the system. By means of obtaining good performance of such system for the library, the level of production and effectiveness...
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...National University Bachelor of Business Administration (Honours) or B.B.A. (Honours) Degree Department of Accounting, Management, Marketing, Finance & Banking Second Year Term Paper Guidelines: (1) Each Department shall form a Term Paper Committee consisting of all teachers of the Department, to monitor the overall supervision of the preparation of Term Papers. The Head of the Department shall be the ex-officio Chairman of the Committee. (2) One student shall submit three (3) copies of Term Paper, first copy for the Supervisor, second copy for Second Examiner and third copy for the Controller of Examination of the National University. (3) The Committee shall select a list of Term Paper Topics during the first month of starting the classes of the second year of BBA (Honours). The Term Paper Topic should be selected on an area only from the major subjects of a student at First Year or Second Year. The number of topics shall be at least ten (10) and shall not be more than 20 (twenty) in total. One Chapter Heading of a Major Subject may be customized for a topic of the Term Paper. (4) Term Paper shall be prepared in English by each student individually and every student shall be assigned under a Supervisor for preparing a Term Paper. (5) The Committee shall assign a Term Paper Topic randomly to the students and shall also select the Supervisor and the Second Examiner randomly from the teachers of the concerned Department. The students of a Department shall be primarily allocated...
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...Harvard UTS Referencing Guide Interactive Harvard UTS Referencing Guide Click to Continue UTS: Library 001 Interactive Harvard UTS Referencing Guide 01. Books 02: Journals & Newspapers 03: Websites or Online 04. Other Sources 05. Ref Lists & General Rules Click on the upper left menu to jump to the generic reference section you are after, and from there specify the article you would Welcome to the Interactive Harvard UTS Referencing Guide like to reference. Use the forward and back arrows in the top right corner to navigate through the PDF. This document is an interactive PDF and is designed to help you reference quickly and simply. This document can also be scrolled through like a regular PDF and can be printed off. 002 Interactive Harvard UTS Referencing Guide 01. Books 02: Journals & Newspapers 03: Websites or Online 04. Other Sources 05. Ref Lists & General Rules 01 Books Please Click On What You Would Like To Reference: 1.5 1.6 1.7 003 Book (No Date) Different Editions Translation From The Original 1.8 1.9 1.10 1.11 1.12 1.13 Edited Book With Only One Editor More Than One Editor Chapter Within An Edited Book Online Book Book On An eReader Books with a foreword written by a different author 01. Books 1.1 Interactive Harvard UTS Referencing Guide One Author 02: Journals & Newspapers 03: Websites or Online 04. Other Sources 05. Ref Lists & General Rules ...
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...CAMBRIDGE INTERNATIONAL EXAMINATIONS General Certificate of Education Advanced Subsidiary Level GENERAL PAPER 8004/1,2,3 MAY/JUNE SESSION 2002 2 hours Additional materials: Answer paper TIME 2 hours INSTRUCTIONS TO CANDIDATES Write your name, Centre number and candidate number in the spaces provided on the answer paper/ answer booklet. Answer two questions. Write on one subject from each of two of Sections 1, 2 and 3. Answers should be 500-600 words in length. Write your answers on the separate answer paper provided. If you use more than one sheet of paper, fasten the sheets together. INFORMATION FOR CANDIDATES All questions in this paper carry equal marks. This question paper consists of 2 printed pages. SJF2427 S18211/1 © CIE 2002 http://www.xtremepapers.net [Turn over 2 Section 1 1 Should governments try to influence population growth in their countries? 2 ‘A successful economy cannot be concerned with workers’ rights.’ Discuss. 3 What do you understand by ‘globalization’? To what extent is the process a positive development? 4 If life is sacred, should we ever kill anyone? 5 ‘People who under-achieve academically make no contribution to society.’ Do you agree? Section 2 6 ‘No limits should be placed on medical research.’ Discuss. 7 How can natural disasters be avoided, or their effects, at least, reduced? 8 ‘Technology breeds laziness.’ What is your view? 9 ‘Science has removed our sense of mystery...
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...* Traditional Costing * * Under Traditional Costing, all operating expenses are allocated by percent of sales. This causes the larger segments to carry more cost automatically. For Southlake, Textbooks generate the most income, however the gross profit percentage is only 26%. Clothing has one of the best gross profits and generates the 2nd most income. With traditional costing, computers are operating at a loss. Under Traditional Costing, all operating expenses are allocated by percent of sales. This causes the larger segments to carry more cost automatically. For Southlake, Textbooks generate the most income, however the gross profit percentage is only 26%. Clothing has one of the best gross profits and generates the 2nd most income. With traditional costing, computers are operating at a loss. ABC Costing * When allocating the operating costs based on cost driver rather than percentage of sales the segments performance differs. Depending on management’s choice of cost driver, results will vary. We allocated all costs to each product line but used different drivers. Under ABC costing, less cost is allocated to the biggest segment, textbooks. Textbooks still create the most income, but both supplies and computers are operating at a loss. When allocating the operating costs based on cost driver rather than percentage of sales the segments performance differs. Depending on management’s choice of cost driver, results will vary. We allocated all costs to each...
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...Final Reflection Paper By Jessica Krick The first week I learned that children's books aren't as a genre an indication of readership. I enrolled in this class because it is required. According to my guidance counselor, it is to 'diversify my learning'. Now that I have finished the course, I couldn't agree more! I started this class thinking that children's books are simple and sort of primal. When in fact, there are a lot of literary elements involved; and the illustrations tell the story as much as the text. It has taught me to look deeper into everything, that nothing is simple. I plan on using this newly acquired skill in the future. Also during this week, I got to analyze and enjoy "The Giving Tree". It is such an exemplar picturebook, that I just had to buy it (along with "Wild Thing") to read again and again with my nephew. I typically favor the moral lessons provided in these books. With that said, I honestly didn't like the book "Millions of Cats", I guess it just rubbed me the wrong way, plus I'm a dog person! Being an artist myself, my favorite part of this class was the multitude of illustrations involved in my class work. Home work became fun. You always seem to provide extra handouts just to further our knowledge, like the 'handout of illustration styles' and I read quite a bit of the Grim folktales. Folklore revisits popular childhood folktales or how I have always known it as 'fairytales'. I found it interesting that they have survived centuries by word...
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...effective because companies are able to maximize the effectiveness of their advertisements, aiming at consumers that have the highest probability of making the purchase due to personal preference. This tactic is especially useful for online book stores, as readers can be given suggestions on books to buy based off of information on previous purchases. For example, if customer A enjoys reading mystery novels and has purchased several in the past, an online book store can suggest other books in the mystery genre that the reader has not yet purchased. Thanks to the information stored on customer A’s previous purchases, the company can see what kind of novels have the highest probability of being bought by customer A, namely mystery novels. An online bookstore usually accomplishes this by having a “Recommended for you” tab at the bottom or top of its web page. This is effective advertising that increases sales, because had customer A not been informed of an appealing product, he/she may not have made that extra purchase, and would have concluded shopping for that time. In its essence, behavioral targeting collects information on an individual's browsing behavior on-line to help choose which advertisements to show that individual. When a company knows what books a customer has bought in the past, it makes it easier to provide them with more relevant novels; before long, each customers “Recommended for you” tab will be tailored to their individual taste, making their shopping experience much...
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