...and Operations/Quantitative Asset Management Instructor: Frank J. Fabozzi, Ph.D., CFA, Visiting Professor, ORFE Office: 207 in ORFE Building (office shared with Professor Mulvey) Office hours: 4-6pm (this time slot will also be used for presentations on special topics) Classroom: Friend 006 Course description: This course covers asset management focusing on quantitative models applied to equities and bonds (with emphasis on mortgage-backed securities). The quantitative models discussed are asset allocation models and portfolio construction models that include optimization models (mean-variance framework and extensions such as robust portfolio optimization), multi-factor risk models, risk control models, and transaction cost forecasting models. Return attribution models for performance evaluation will be covered. Model risk and model/strategy backtesting will be highlighted. Guest speakers from quantitative asset management firms are scheduled. Determination of final grade: Final exam ………………………………. 40% Design project …………………………… 25% Term paper ………………………………. 25% Problem sets ……………………………… 10% Course material and reading assignments: No textbook is required for the book. Instead, the sources for the reading assignments will be (1) articles available from journals that Princeton subscribes, (2) free downloads from the Internet, and (3) material I have prepared for the course. There will be a list posted on Blackboard that will provide the material assigned...
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...to the Flow of Funds Accounts of the United States, the largest single asset of U.S. households is ___. A. mutual fund shares B. real estate C. pension reserves D. corporate equity 5. According to the Flow of Funds Accounts of the United States, the largest liability of U.S. households is ________. A. mortgages B. consumer credit C. bank loans D. gambling debts 6. ____ is not a derivative security. A. A share of common stock B. A call option C. A futures contract D. All of the above are derivative securities. 7. According to the Flow of Funds Accounts of the United States, the largest financial asset of U.S. households is ____. A. mutual fund shares B. corporate equity C. pension reserves D. personal trusts 8. Active trading in markets and competition among securities analysts helps ensure that __________. I. security prices approach informational efficiency II. riskier securities are priced to offer higher potential returns III. investors are unlikely to be able to consistently find under- or overvalued securities A. I only B. I and II only C. II and III only D. I, II and III 9. The material wealth of society is determined by the economy's _________, which is a function of the economy's _________. A. investment bankers, financial assets B. investment bankers, real assets C....
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...MBA PROJECT TITLES Check out this comprehensive collection of MBA project titles at a2zmba.com. Learn how to do your project better and easily...MBA Projects made easy.. Get help for your MBA project from a2zmba users here. Post your project related queries here.. 1. Product strategies of private life insurance companies 2. A study on "why companies should go for outsourcing" 3. Effectiveness of advertising on real estate sector 4. Study on consumer expectations and perceptions towards consumer loans 5. Workers attrition rate at hotel industry is increasing. Study regarding this issue 6. Attrition rates at different sectors 7. Effectiveness and scope of employee referrals in the process of talent sourcing 8. Study of training needs across different industries 9. Study on creation of luxury brand 10. Strategies used to build successful Internet based customer services 11. Measuring the effectiveness of retail banking of a nationalised bank compared to a MNC 12. Conspicuous consumption 13. Study of awareness and acceptibility of UPVC windows and door systems 14. Opportunities of Financing the NANO's in Bangalore 15. Changing trends in FMCG industry in India 16. A study of best HR practices in service industry 17. Fundamental analysis of Indian telecom companies 18. Study of consumer behaviour in automobile industry 19. customer buying behaviour towards insurance products 20. Promotion strategies followed in Insurance sector 21. Study on changing consumer preference...
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...FINANCE PORTFOLIO ANALYSIS FINAL WORK DESCRIPTIVE ANALYSIS AND APPLICATION OF THE PORTFOLIO THEORY Abstract The main objective of the work is to construct, through application of the Portfolio theory, an efficient frontier which represents a set of portfolios with optimum risk-return ratio for ten companies from Mexican IPC. The sample used in this work is composed of the most representative companies in this index. A descriptive analysis of the behavior of the stocks included in this study is carried out using the binomial risk-return, which significantly contributes in selecting the most suitable stocks to be included in the portfolio. The work is concluded with finding an optimal portfolio for a risk adverse investor. The main conclusions from study are the poor performance of the construction sector, which holds the lowest returns, the highest risk and negative performance ratios, and the usefulness of the theory of portfolios to get a set of portfolios with higher returns and lower risk than the general Mexican IPC index that represents the market. The importance of diversification of assets is also noted. Keywords: Portfolio theory, Efficient Frontier, Risk-Return, Minimum Variance, Portfolio Contents 1. Introduction 6 1.1 Introduction 6 1.2 Goals 7 1.3 Methodology 7 1.4 Structure 9 2. Theoretical Framework 11 2.1 Risk and Return 11 2.1.1 Portfolio’s Expected Return 12 2.1.2 Portfolio Risk (Standard Deviation) 13 2.2 Diversification...
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...1. Product strategies of private life insurance companies 2. A study on “why companies should go for outsourcing” 3. Effectiveness of advertising on real estate sector 4. Study on consumer expectations and perceptions towards consumer loans 5. Workers attrition rate at hotel industry is increasing. Study regarding this issue 6. Attrition rates at different sectors 7. Effectiveness and scope of employee referrals in the process of talent sourcing 8. Study of training needs across different industries 9. Study on creation of luxury brand 10. Strategies used to build successful Internet based customer services 11. Measuring the effectiveness of retail banking of a nationalised bank compared to a MNC 12. Conspicuous consumption 13. Study of awareness and acceptibility of UPVC windows and door systems 14. Opportunities of Financing the NANO’s in Bangalore 15. Changing trends in FMCG industry in India 16. A study of best HR practices in service industry 17. Fundamental analysis of Indian telecom companies 18. Study of consumer behaviour in automobile industry 19. customer buying behaviour towards insurance products 20. Promotion strategies followed in Insurance sector 21. Study on changing consumer preference towards organised retailing from un-organised retailing 22. study on “impact of advertising in B2B marketing” 23. Distribution network & general insurance industry 24. A study on distribution channels in aluminium industry 25. Study on strategies for...
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...PROJECT REPORT ON “SECURITY ANALYSIS AND PORTFOLI MANAGEMENT” CONDUCTED AT “Indiabulls Financial Service Limited” A dissertation submitted to the OSMANIA UNIVERSITY, Hyderabad in the partial Fulfillment for the award of the degree of “MASTER OF BUSINESS ADMINISTRATION” BY D.GANGADEVI (1313-10-672-042) UNDER THE GUIDANCE OF Mr.Manohar( Prof. ) MATRUSRI INSTITUTE OF PG STUDIES ( AFFILIATED TO OSMANIA UNIVERSITY,HYD) SAIDABAD, HYDERABAD 500079. 2010-2012. ACKNOWLEDGEMENT With profound esteem and affection, I recall the favours I have gained from my teachers, parents and all who co-operated with me in the course of the completion of this dissertation. I wish to express my deep sense of gratitude to Mr.VINOD KUMAR BRANCH MANAGER of Indiabulls Financial Limited for the opportunity to go through with my dissertation in his organization and to Mr.K.RAMESH CHENDRA, who has guided me in the organization with lots of advises, corrections and personal care. Lastly, I owe my special thanks to all my faculty members, friends and laity who co-operated with me in completion of this dissertation. ...
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...The Portfolio Theory also known as Modern Portfolio Theory was first developed by Harry Markowitz. He had introduced the theory in his paper ‘Portfolio Selection’ which was published in the Journal of Finance in 1952. In 1990, he along with Merton Miller and William Sharpe won the Nobel Prize in Economic Sciences for the Theory. The theory suggests a hypothesis on the basis of which, expected return on a portfolio for a given amount of portfolio risk is attempted to be maximized or alternately the risk on a given level of expected return is attempted to be minimized. This is done so by choosing the quantities of various securities cautiously taking mainly into consideration the way in which the price of each security changes in comparison to that of every other security in the portfolio, rather than choosing securities individually. In other words, the theory uses mathematical models to construct an ideal portfolio for an investor that gives maximum return depending on his risk appetite by taking into consideration the relationship between risk and return. According to the theory, each security has its own risks and that a portfolio of diverse securities shall be of lower risk than a single security portfolio. Simply put, the theory emphasizes on the importance of diversifying to reduce risk. Early on, investors stressed on individually picking high yielding stocks to earn maximum profits. So if one particular industry was offering good returns; an investor would have landed...
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...Chapter-1 Introduction 1.0 ------------------------------------------------- Introduction The industry of investment banking is large and far-reaching. It is complex and confusing. It is mysterious and even frightening. Fortunes and lives depend on it. What happens behind the walls of an investment bank each day can affect millions of families, even entire nations. In case of Capital market investment bank plays great role to maintain its efficiency. The journey of Bangladesh capital market is not too old. Still it has a long way to go. The capital market of Bangladesh has yet to find a solid ground and the investor confidence in the market is significantly high, especially after the stock market crash in1996. Observing the poor performance of the market over the years the government has taken initiatives to reform the market. One of such step is to allow banks and non-banking financial institutions offering other financial and banking services to open up their investment banking wing. Investment banks facilitate flows of funds and allocations of capital. They are financial intermediaries, the critical link between users and providers of capital. They bring together those who need money to invest with those who have money to invest and they make the markets that allocate capital and regulate price in these financial transactions. One of the renowned names in Bangladesh financial market is IDLC Finance Limited. It started its operation in the year 1985 as the...
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...hired by New Jersey department to do projects analysis. The project chosen is Project IHTRHU. Collection of data, detailed analysis, findings and conclusion method has been conducted in providing comprehensive report. However, some data is limited and assumptions are made for sensivity analysis purpose. There are three significant findings based on the scope management plan and financial analysis conducted. On the scope management plan, it has been found that the tracking and monitoring of performance report was lacking as expert advice was not consulted and project scope was not well defined. Findings revealed that among the three projects, Project IHTRHU is the best project due to highest positive NPV rates based on the financial analysis. The discussion analysis comprises IRR, discounted rate, hurdles rate, cash flow, inflation and interest rate for the sole purpose of investment returns. As observed the scope management plan is overall good. Recommendation for improvement on report and tracking performance can be enhanced in avoiding delay and mitigate risk. Also, various financial methods has been used to determine quick cash flow returns. Calculation on NPV is the best recommendation provided based on the exclusive mutually project factor as well as financial analysis views concluded from scholars. Contents Executive Summary………………………………………………………………………… ………… i 1. Introduction 1 1.1 Project Background 1 2. Critical Analysis of...
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...Business Information Systems 9 Section 4: System Development 12 Section 5: Information Systems and Society 13 References 14 Section 1: Information Systems Overview The organization I would like to use in this project, is my own organization. Currently my organization is a tier 2 wireless service provide, serving the Mississippi, Memphis, and Sun Coast’s markets. Along with wireless voice and data services, my organization also provides fiber to home services, which include data, voice, and video services and business class services throughout the markets in operates in. In addition to the above services, my organization also just completed construction on the regions first Tier3 Plus data center, opening its portfolio up to a number of hosted solutions. A service provider like the organization I work for has to take a unique approach in the selection of its information systems (IS). Because my organizations operations span from customer facing store fronts, to large data center operations, the selection of a single information processing solution is almost impossible. We utilize many different information processing solutions often tied into each other, and dependent on each other to accomplish my organizations goals. We currently utilize a vast portfolio of systems from each of the three types of information systems identified in this course. The types of IS we use include transaction processing systems (TPS) (Reynolds & Stair, 2012) to address the business needs...
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...Global Marketing Strategy Aalborg University, 07.09.2015 By: Svend Hollensen, svend@sam.sdu.dk Agenda: Glocalization (Ch 1) & IMS (Ch 8) Hollensen, Global Marketing 6e, © Pearson Education 2015 Hollensen, Global Marketing 6e, © Pearson Education 2015 1-2 Hollensen, Global Marketing 6e, © Pearson Education 2015 1-3 Hollensen, Global Marketing 6e, © Pearson Education 2015 1-4 Hollensen, Global Marketing 6e, © Pearson Education 2015 1-5 Some background information about myself, my university and my books Hollensen, Global Marketing 6e, © Pearson Education 2015 SDU Here I live Hollensen, Global Marketing 6e, © Pearson Education 2015 University of Southern Denmark Sønderborg Hollensen, Global Marketing 6e, © Pearson Education 2015 2001 in 1998 6th ed. came in 2013 in 2004 5th ed. came in 2010 Hollensen, Global Marketing 6e, © Pearson Education 2015 4th ed. came 2007 Chapter 1: Glocalization strategy Hollensen, Global Marketing 6e, © Pearson Education 2015 Global Marketing Strategies Globalization Localization (Standardization) (Differentiation) 100% 100% Global Low-cost Production and Selling Global roll-out of Concepts / High speed Culturally Close to Consumer GLOCAL Low complexity 07-09-2015 Hollensen, Global Marketing 6e, © Pearson Education 2015 Flexible Response to local customer needs Regional and local market penetration 11 ...
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...nawaloka construction Nawaloka Construction Company is a truly Sri Lankan construction organization that could offer multi-disciplinary service to suit your requirements and which has been in existence for over 65 years. It has the Category M1 for Building Works and Highways in the ICTAD Grading and is a Member of the NCCASL. It has the capacity to handle any type of construction work namely Piling Work of any magnitude, High rise Buildings & Factory Buildings, Land Development & Irrigation Works, Roads & Bridges, Water Supply Schemes & Elevated Water Tanks etc. It has a qualified and experienced staff in-house and the construction sites are well supervised and managed until the projects are completed. It has always met the requirements of the Clients and the Consultants and has proven it by completing the Projects on time to their entire satisfaction. The year was 1942, a turbulent period, the second world war was raging in Europe, the country under British occupation, industry in the modern sense was virtually non existent, the local entrepreneur class in a formative stage. This was the prevailing atmosphere when Deshamanya H.K. Dharmadasa made his entry in to the field of business in Sri Lanka. Nawaloka Timber Stores came into being and very soon made a household name in the country. Under his able stewardship and also with the assistance of his two sons, Nawaloka has grown into a group of companies covering many fields including construction, industries...
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...indirectly contribute to the country's productive capacity. C. contribute to the country's productive capacity both directly and indirectly. D. do not contribute to the country's productive capacity either directly or indirectly. E. are of no value to anyone. 7. In 2012, ____________ was the most significant real asset of U.S. households in terms of total value. A. consumer durables B. automobiles C. real estate D. mutual fund shares E. bank loans 8. In 2012, ____________ was the least significant financial asset of U.S. households in terms of total value. A. real estate B. mutual fund shares C. debt securities D. life insurance reserves E. pension reserves 9. In 2012, ____________ was the most significant financial asset of U.S. households in terms of total value. A. real estate B. mutual fund shares C. debt securities D. life insurance reserves E. pension reserves 10. In 2012,...
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...PM587-Course Project | December 15 2013 | Here is a brief about SGS’s Organizational Strategic Plan to include Portfolio management Plan and the changes that need to be controlled through the portfolio, Program, and the projects. The last item to cover will be how to get maximum utilization of resources by analyzing and planning | Belinda Mozel, Instructor | Martin E. Phipps 1551 Hillside Dr. Beavercreek, Ohio 45432 phippsme@yahoo.com 937-212-3431 Index Introduction * SGS in a Brief * Our History Organization Strategic Plan * Group Profile * Inspection * Testing * Verification * Certification Organization Strategic Capacity Plan * Vision * Values * Strategic Plan * Expertise * Industries * Themes Flow chart of Portfolio Process or Technical Due Diligence Service * Initial review * Agreement of work packages * Undertake work packages for projects in development and operation * Review finding with client * Final presentation Outline of Project Selection Criteria Program Management Plan * Standards Resource Utilization * Green Book * SHINE * SEI Introduction SGS in Brief Wherever you are in the world, in whatever industry, you can rely on our international teams of experts to provide you with specialized business solutions to make your business faster, simpler and more efficient. We partner with you to offer independent services...
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...Chapter 12 Project Finance David Gardner and James Wright HSBC Introduction The purpose of this chapter is to provide an overview of Project Finance. This chapter will outline what Project Finance is, the key features which distinguish it from other methods of financing, the motivations and circumstances for utilising it and the typical structuring considerations therein. Moreover, it will be shown to be a method of infrastructure finance 1 which has become increasingly relevant in the wake of the Global Financial Crisis 2 . What is Project Finance? Project Finance can be characterised in a variety of ways and there is no universally adopted definition but as a financing technique, the author’s definition is: “the raising of finance on a Limited Recourse basis, for the purposes of developing a large capitalintensive infrastructure project, where the borrower is a special purpose vehicle and repayment of the financing by the borrower will be dependent on the internally generated cashflows of the project” This definition in itself raises a number of interesting questions, including: What do we mean by ‘Limited Recourse’ financing – recourse to whom or what? Why is Project Finance typically used to finance large capital intensive infrastructure projects? Why is the borrower a special purpose vehicle (SPV) under a project financing? What happens if the internally generated cashflows of the project are not sufficient to repay the financiers of the project? These points will...
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