...Curtin Business School Department of Finance and Banking Portfolio Management 301 Semester 1, 2013 - Assignment Instructions 1. This is a group assignment. Each group will consist of three students and each group will submit one joint report. 2. In doing this assignment, you are encouraged to refer to the lecture notes, text, the reading material in Blackboard and any other material that may assist you in understanding what you are doing in this assignment. Group members are expected to actively discuss and work among themselves but not refer to the work of any other groups. Any collusion of this form will be treated very seriously and penalised. 3. Please ensure that each member in a group makes an equal contribution to the assignment, as far as possible. Free riders should be reported to me and may be penalised. 4. You are expected to make this assignment an opportunity to develop you spreadsheet computational skills. Make use of Excel to do your calculations and charts/graphs. 5. Assignments must be presented in a professional and reader-friendly manner. The key results or summaries of your calculation and your comments must be shown in the body of the report. Make sure the formulas or methods used for your computations are clearly shown. The data collected and details of calculations can be shown as appendices to the report. The length of the report should not exceed 10 pages (Excluding the appendices). You should also follow the following typing...
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...run. In 2000 Black and Decker Corporation was still reeling from the financial and strategic problems stemming from the company's acquisition of Emhart Corporation in 1989. In late 1998 Black & Decker management celebrated the completion of an almost decade-long effort to divest nonstrategic business gained through its 1989 acquisition of Emhart Corporation and expected the company to enter a long-awaited period of growth as its entire management refocused its attention on its core power tools, plumbing, and security hardware business. Archibald believed that "This portfolio restructuring will allow us to focus on core operations that can deliver dependable and superior operating and financial results." However the portfolio restructuring did little to improve the market performance of the company's securities. Yet Archibald and the management continued to express confidence that the company's streamline portfolio would allow Black & Decker to achieve revenue and earnings growth that the market would find impressive. So far the 1998 divestitures have not produced steady increases in the company's stock price, but look promising for the future due to the efforts to refocus efforts on the successful power tools line. Strategic planning team evaluation Over the years, Black & Decker has branched off into many different directions in order to gain as much market share as possible. The diversification program in the 1980s produced mixed results for shareholders, and later...
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...work and needs to plan accordingly. One main question that is always a difficult one to answer is how long one needs to work before they can comfortably stop working and rely on their financial portfolio to take care of expenses after work. In order to analyze these questions, a deterministic model of an investment portfolio was created and stochastic modeling was used to determine the likelihood of being able to accumulate the necessary finances over the desired period of time. Quantitative Analysis: 1. Using the given deterministic model, the annual outflows were estimated from the retirement portfolio over the retirement years and the estimated return on the account was also calculated. It was determined that under these basic assumptions of salary and portfolio growth rate the portfolio could expect to grow to $452,900 within thirty years. However, this assumed a fixed salary growth rate of 5% as well as a 4% annual investment rate. Given the high rate of inflation and the projected expenses after retirement, it was calculated that if this money was to last for the retirement, then even pulling out $50,000 per year in expenses would cause the account to run out after just a few years. 2. Adjusting the annual rate to 8% from 4% had a major effect. Although the portfolio fell short of the one million dollar goal by only reaching $853,633, this was a major effect as it allows the individual the ability to pull $100,000 each year from this account and still sustain...
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...Kochman’s and Badarinathi’s mathematical case for upside deviation deals with portfolio upside deviations being divided by a market’s upside deviations to so show the resulting ratio and how it facilitates other tests for positive or negative skewness. The article discusses how CAPM is inappropriate for the evaluation of portfolios given that is not only assumed that the returns on distributions are symmetrical, but that the beta (performance and return-to-risk ratios) underestimates the risk of larger numbers of mutual funds. Kochman and Badarinathi needed to answer two questions; can upside deviation be the means for portfolio evaluations and can this be done by taking the upside deviation of portfolios and divide those figure by the upside deviation of the market? Kochman and Badarinathi believe that to make a case for upside deviation as a means for portfolio evaluations is to take the upside deviation of the portfolio(s) and dividing it by the market(s) upside deviation. This would result with a ratio that facilitates another test of positive or negative skewness. To test whether the ratio of portfolio-to-market upside deviations as a success, a test on fund returns would need to be conducted to ensure a meaningful difference between upside deviations, portfolios, and markets. The overall findings showed that the relationships between low betas and low upside volatility appeared to be weaker than the relationships between high betas and high upside volatility. In addition...
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...Rock, Paper, Scissors, and Other Investment Techniques (UOP) FIS 240 Week 5 DQs (UOP) FIS 240 Week 6 CheckPoint: So Many Businesses, So Little Money PART 1 OF 2 (UOP) FIS 240 Week 6 CheckPoint: So Many Businesses, So Little Money PART 2 OF 2 (UOP) FIS 240 Week 6 Assignment: Analyze This (UOP) FIS 240 Week 7 DQs (UOP) FIS 240 Week 7 CheckPoint: Income that Sticks PART 1 OF 2 (UOP) FIS 240 Week 7 CheckPoint: Income that Sticks PART 2 OF 2 (UOP) FIS 240 Week 8 CheckPoint: Lifetime Investment Matrix PART 1 OF 2 (UOP) FIS 240 Week 8 CheckPoint: Lifetime Investment Matrix PART 2 OF 2 (UOP) FIS 240 Week 8 Assignment: Living the Easy Life (UOP) FIS 240 Capstone Discussion Question (UOP) FIS 240 Final Project: Investment Policy and Portfolio Evaluation (UOP) ____________________________________________________ FIS 240 Week 1 CheckPoint: Is Time on My Side (UOP) For more course tutorials visit www.tutorialrank.com Resources: Appendix D and the Time Value of Money multimedia (enter into the Axia College student webpage first then copy and paste the link into the open browser) TUhttps://ecampus.phoenix.edu/secure/aapd/UBAM/Libraries/Flash/TVM.swfUT. Due Date: Day 5 [post to the Individual forum] Complete your responses to this week’s CheckPoint in Appendix D. Post the completed...
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...STRUCTURAL ADJUSTMENT PROGRAMMES AFFECTED WOMEN MORE THAN MEN The view that Economic Structural Adjustment Programmes (ESAPs) affected women more than men is true to a considerable extent. This was because women were a vulnerable group and Economic Structural Adjustment Programs worsened the situation and that is why ESAP have been cynically changed to mean Extreme Suffering of the African People, and this implies that Economic Structural Adjustment Programs brought more negative impact than positive ones and it were women who particularly suffered more than any other group. Economic Structural Adjustment Programmes are perceived by the Bretton Wood institutions as the process which aims at making national economies of developing countries more efficient, more flexible and better able to use resources through cutting of expenses. The International Monetary Fund and the World Bank were arguing that Third World countries were being faced with finance problems because they were spending too much on arms and paying workers. Hence the way to address these financial problems was by reducing on arms spending and retrenchment of extra workers, and this was the dawn of a new economic day in developing countries in the form of Economic Structural Adjustment Programmes...
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...After gaining independence, Ghana’s economy had reached a state of crisis and therefore, certain International Financial Institutions (International Monetary Fund and World Bank) had intervened. The goal for Ghana was to pursue economic growth at all costs and seek to achieve through the increase of the Growth Domestic Product and the Growth National Product. Structural adjustment programs (SAP) (designed by the World Bank and IMF) had begun being implemented by the Provisional National Defense Council (PNDC) and National Democratic Congress (NDC). SAPs can be defined as “the process by which key institutions and policies are reconstructed with the intent on advancing economic growth”. This involves increasing economic dependency and diversifying economic resources. While looking at Peter Arthur’s opposing argument that the IFIs and their strategies were detrimental to Ghana’s economy - Kwadwo Kanadu-Agyemang and Darko Kwabena Opoku believe that these strategies and SAPs were beneficial to Ghana’s economy, only to a certain extent. This essay will aim to identify certain criticisms of Ghana undergoing the SAP as well as which sectors of the SAP were beneficial to Ghana. Furthermore, this essay will identify that the ‘imposition’ of the SAPs was indeed necessary and less destructive than its critics state. Colonial rule ended for Ghana in 1957 and they became politically independent and they were “the first country in sub-Saharan Africa to do so”. Ghana had ebeen the world’s...
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...applicable discounts are applied and before tax is imposed. Eligible customer purchases include sale-, regular- and clearance-priced merchandise, but exclude the purchase of Gift Cards. Offer can be redeemed with any other offer, but cannot be redeemed for cash. Kohl's Cash® will be applied prior to percent-off total purchase discounts. Kohl's Cash® Coupon may not be redeemed (1) on purchases of Kohl's Cares® cause merchandise or other charitable items; (2) to reduce customer's Kohl's Charge or any third party charge account balance; (3) as price adjustments on prior purchases; or (4) to purchase gift cards. If merchandise purchased earning a Kohl's Cash® Coupon is subsequently returned or price adjusted, the value of the Kohl's Cash® Coupon previously earned and/or the amount of the merchandise refund will be reduced to reflect any unearned value. Return value of merchandise purchased with a Kohl's Cash® Coupon may be subject to adjustment. Offer is nontransferable. Redemption Instructions for POS Associate: Scan barcode. When prompted, print the coupon's new value on the...
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...Chiropractic Medicine Chiropractic is a very popular alternative medical treatment system. Chiropractors work with various parts of the body to ease pain, correct alignment issues and help provide the support the body needs to naturally heal itself. “The term “chiropractic” combines the Greek words cheir (hand) and praxis (practice) to describe a treatment done by hand.” Chiropractic care is centered around hands on therapy because of adjustments with the spine, the body’s main structure. According to research and the National Health Interview Survey (NHIS) cost data report, in 2007 chiropractic care was one of the most exercised form of complementary health practices. Over 18 million adults and 2 million children had expedited chiropractic medicine in a year’s time. With that being said, one of the main problems people have deal with lower back pain. However, chiropractic medicine is also used for sports injuries, job related injuries, pain management and natural relaxation. Not only is chiropractic services less invasive, but is also less expensive and nerve racking. For example, a patient with chronic lower back pain could benefit more from the chiropractic field rather than surgery or medication. The high risks and chances of improvement with surgical procedures vary with the patient. Also the time it can take to fully recover after a major surgery could be even more strenuous. Chiropractic care, in my opinion, should be ones first step to recovery because it comes...
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...Adjustment and Stress Disorder An adjustment disorder or (AD) is a psychological response to a stressor or stressors that are identifiable and result in the formation and growth of clinically significant, emotional or behavioral symptoms. The symptoms displayed by a person who suffers from this disorder share similar symptoms as depressed people. As a result this disorder is sometimes referred to as situational depression. There are five criterions that are to be met for Adjustment and Stress Disorder to be accurately diagnosed. As it pertains to the diagnostic features of this disorder, symptoms must develop within 3 months after the onset of the stressor(s) (Criterion A). The clinical significance of the reaction is indicated by marked distress (the excess that would be anticipated given the nature of the stressor or stressors) or by significant impairment in social or occupational functioning (Criterion B). What this means is a reaction to a stressor that might be considered normal or expectable can still qualify for a diagnosis of Adjustment Disorder if the reaction is sufficiently severe to cause significant impairment. This category should not be used if the stress-related disturbance does not meet the criteria for another specific Axis I disorder and is not merely an exacerbation of a preexisting Axis I or Axis II disorder. In Criterion D the symptoms do not represent Bereavement. Finally in Criterion E, once the stressor (or its consequences) has been terminated, the...
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...TREATMENT PLAN FOR ADJUSTMENT DISORDER WITH MIXED EMOTIONAL AND CONDUCT DISTURBANCE As the primary goals of treatment of Adjustment disorders are to relieve symptoms and assist with achieving a level of adaptation that is comparable to the affected person's level of functioning before the stressful event. Treatment Aims: a. Restoration of prior level of social interaction b. Reduction in distress c. Reduction in maladaptive behavior associated with stressors PROCESS OF TREATMENT: COGNITIVE –BEHAVIORAL THERAPY First, REALISTIC SHORT-TERM GOALS are made at the start of the session, as the course treatment of an adjustment disorder is usually short-term in nature. Goals of therapy center on social supports available to the individual in her life in the form of family, friends, and community. I used behavior therapy, it focused on having the client to keep a daily log of what triggers the stress, how the client responds to the stress, and what helps reduce the stress. Second is the PROBLEM SOLVING SKILLS The individual's coping and problem solving skills are explored and developed. The steps I made to the client’s problem solving skills are: Define the problem, Recognize how you feel about the problem, Accept your feelings, Relax and try not to think about solutions for a while, Consider all possible solutions, Try to imagine how other people might solve the problem or how to obtain the information needed to solve the problem, Evaluate the pros and cons of each...
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...Entering the office for persistent headaches or back pain is understandable, yet these patients also receive nutritional advice to enhance their adjustments and lives. G. Forrest Edwards, D.C., D.A.B.C.O., the physician who runs the Hoover facility is dedicated to all aspects of health and wellness, including nutrition. Chiropractic care is the practice of treating a patient's illnesses or conditions through spinal adjustments. This concept, which works on the cause of the issue, rather than the symptoms associated to the issue, has been used for over a century. By keeping the neuromuscular system of the body aligned and working properly, a whole host of maladies can be treated or even reversed....
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...Page 1: Eden Prairie, MN, Chiropractor - http://www.edenprairiechiropracticcare.com/ Whether you're suffering from chronic back pain or simply recovering from an injury, finding an established chiropractor is an important first step to maximizing your health potential. When you visit Southwest Chiropractic, our highly skilled staff will take the time to learn about your individual needs and expectations before beginning to develop your individualized treatment plan. Our goal is to help as many patients as possible in Eden Prairie, MN, achieve their best health possible. We understand the importance of providing a variety of options when it comes to comprehensive chiropractic care. That's why our services include, but are not limited to, the following: General chiropractic Spinal decompression treatment Automobile injury chiropractic Sport injury chiropractic When you turn to Southwest Chiropractic, you can rest assured that our chiropractors are committed to exceeding patient expectations with every appointment. For your convenience, we're here to serve our patients in Eden Prairie Monday, 8am - 6pm; Tuesday, closed; Wednesday, 8am - 6pm; Thursday, 7am - 5pm; Friday, 7am - 3pm; Saturday, 9am - 3pm; and Sunday, by appointment. Call us for more information or to schedule your initial consultation today. Page 2: Eden Prairie, MN, General Chiropractic - http://www.edenprairiechiropracticcare.com/general_chiropractic.html When it comes general chiropractic care, healing focuses...
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...Bibliography: Adedeji, A. (1999). "Structural adjustment policies in Africa." International Social Science Journal 51(162): 521-528. Broad, R. and J. Cavanagh (1999). "The death of the Washington consensus?" World Policy Journal 16(3): 79-88. Cleary, S. (1989). "Structural Adjustment in Africa." Trocaire Development Review 1989: 41-59. Dollar, D. and A. Kraay (2001). Trade, growth, and poverty, World Bank, Development Research Group, Macroeconomics and Growth. Escobar, A. (1992). "Culture, economics, and politics in Latin American social movements theory and research." The making of social movements in Latin America: Identity, strategy, and democracy: 65-82. Fine, B. (2002). "Economics imperialism and the new development economics as Kuhnian paradigm shift?" World Development 30(12): 2057-2070. Godard, P.-P. K. and J. H. Williamson (2003). After the Washington Consensus: restarting growth and reform in Latin America, Peterson Institute. Gore, C. (2000). "The rise and fall of the Washington Consensus as a paradigm for developing countries." World Development 28(5): 789-804. Hamilton, C. (1989). "The irrelevance of economic liberalization in the Third World." World Development 17(10): 1523-1530. Harriss, J., et al. (2003). The new institutional economics and Third World development, Routledge. Helleiner, G. K. (1992). "The IMF, the World Bank and Africa's adjustment and external debt problems: An unofficial view." World Development 20(6):...
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...1 Export processing zones are also known as free trade zones. True or False True 2. The is great income disparity in South America True or False True 3. The ______b. Amazon__________________ Basin is a reservoir of biodiversity? a. Patagonian b. Amazon c. Mexico City 4. Small pox, tobacco and the potato are all examples of the Columbian Exchange. True or False True 5. ____c. El Nino____________ are periodic climate-altering changes, especially in the Pacific Ocean, now understood to operate on a global scale. ? a. hurricanes b. El Pinto c. El Nino 6-7. (2 points) Define the term structural adjustment policies (SAPs) _________________________________________________________________________ SAPs are policies that the World Bank and International Monetary Fund required from governments to receive loans. The policies were started to help countries become economically self-sufficient. This was to help ensure that that the loans would get repaid. SAPs encouraged governments to reduce spending on government programs, minimize the number of civil servants and by lowering taxes on already established private industries. _________________________________________________________________________ 8. The Incan Empire was principally in northern Mexico. True or False False 9-10. (2 points) Describe the pros and cons of NAFTA. NAFTA is a free trade agreement made between the United States, Canada and Mexico. This agreement would remove most barriers to free trade...
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