...the test successful and distribute quality watches that will pass the SOCC investigation and gain profits for the organization. The importance is to remember that the watches were failing three tests on a constant basis. It is important as stakeholders within the organization to make sure the machinery is not the responsible for the failures of the three industry test. The budget for upgrade is $500,000. Listening to the views of the head of departments the important machinery to work with is upgrading the timing machine, upgrading the poising machine, and buying movement holders. The posing machine is important because it is used to poise the balancing wheel. Poising determines the accuracy of the movement in different positions. Upgrading this machine will help ensure the accuracy of the watches in different positions. Movement holders hold the base plate of the movement keeping the base flat and secure with no movement that makes it easier to assemble the...
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...Brand association: It means what resides in the customer’s deepest mind. Brand association is anything which is deep seated in customer’s mind about the brand. Brand should be associated with something positive so that the customers relate your brand to being positive. Brand associations are the attributes of brand which come into consumers mind when the brand is talked about. It is related with the implicit and explicit meanings which a consumer relates/associates with a specific brand name. About Rolex, if we consider the upper portion then the brand association will be: 1. Watch. 2. People. 3. Sports. 4. Successful. 5. Highest quality. 6. Reliability. 7. Durability. 8. Serviceability. 9. Convenient. 10. Unique. 11. Prestige. 12. Word of mouth publicity. 13. Price. 14. Luxury. 1. Watch: If any customer think about the brand Rolex, the picture will be spotted in his or her mind is watch, which represents aristocracy. It is being fixed in their brain or even soul, because the brand Rolex is representing themselves as a brand of watch for many year. 2. People: Different types of people use it to reflect their strength. Top athletes are wearing it to show their toughness, robustness and skill. Rich and high class people wear it to show their wealth and class. Man also use it to show their manliness. 3. Sports: Rolex are associated with different kind of sports like Golf, Sailing etc. So, customers also think...
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...importation thereof into, or the exportation thereof from the United States and all territory subject to the jurisdiction thereof for beverage purposes.” The temperance movement was an attempt at equality of opportunity, but ultimately, it was refuted and protection of property was restored. Alongside the temperance movement, organizations were also working towards women’s suffrage. This movement culminated in 1920 with the nineteenth amendment, which states that “the right of citizens of the United States to vote shall not be denied or abridged by the United States or by any State on account of sex.” The suffragists, and the rest of the nation, believed that giving women a vote would change the outcomes of elections. However, in the first election where women were allowed to vote, women did not affect the outcome as greatly as expected, because they tended to vote similarly to their husbands. Women’s suffrage is a prime example of equality of opportunity at the time, as it gives women another opportunity that they needed in order to further gain equality. The 1920s overall were a time of prosperity for the United States, and they gained the nickname “The Roaring Twenties” for their characteristic music, dancers, and events. However, this time of success and happiness was brought to a halt instantly when the stock market crashed in 1929. Herbert Hoover, being the president at the time, was expected to help the economy recover. People lost their wealth overnight and the United...
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...how people gained access to it prior to its legalization, as well as the social stigma surrounding birth control, and how some women were stuck with raising more children than they could handle because of the difficulty in obtaining birth control. Another question you could cover is the nature of abortion procedures prior to its legalization. Birth control as a movement in the US has had a very uneven relationship to movements for women s rights. Discuss early birth control reform efforts in relationship to issues of gender and class power. Birth control was an early-twentieth-century slogan, but it has become the generic for all forms of control of reproduction. With the spread of agriculture and the economic advantages of large families, religious and in some cases secular law increasingly restricted birth control, with the result that there appears to have been an increase in reliance on abortion while contraceptive technology and use declined. Both practices were legal in the United States until the mid-nineteenth century. Birth control as a movement in the US has had a very uneven relationship to movements for women s rights. Discuss early birth control reform efforts in relationship to issues of gender and class power. Birth control was an early-twentieth-century slogan, but it has become the generic for all forms of control of reproduction. With the spread of agriculture and the economic advantages of large families, religious and in some cases secular law increasingly...
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...managed most aspects of the group. From keeping the public informed via literature, to assisting with campaigns and the recruitment of group members. In the beginning, the ASL relied heavily on the public. They joined forces with The Moreau group, a group consisting of “businessmen who hoped to raise productivity by urging the workforce to shun liquor” (Kennedy School of Government, 1983). Having such a strong temperance group drew the attention of other groups, in this instance the leaders of the Federalist Party. It was through the public that the temperance group gained support, and ultimately became a movement. The movement continued to grow in numbers; in 1826, “their efforts were so successful that by 1835, 1.5 million Americans, a tenth of the population had joined state or local branches of the organization” (Kennedy School of Government, 1983). The allies the movement sought out were crucial, gaining this degree of support in such a short period was essential to its overall success. The ASL, at this point having established their name, began seeking out means of making their presence known, specifically by branching out into the political sphere. This was accomplished by maintaining administrative...
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...Resistance can be interpreted into a variety of alike but altered interpretations all boiling down to being opposed to the ideas of others or to an entire situation occurring. These ideas lead to groups of individuals who have similar opposing ideas to what some call the norm, these are called resistance groups. These groups are usually hidden and show their own twist on the ideas altering from the countries beliefs. Naomi Klein and Barry Lopez are two boisterous authors when it comes to resistance. Barry Lopez was not the one to sit back and let something he believed to be not right go on without voicing his opinion. Therefore he creates the multiple short story book “Resistance” to show his readers how he believes the world is not healthy. Naomi Klein on the other hand takes her own approach to resistance and puts it into a more straightforward subject of excessive branding and globalization. “No Logo” created by Naomi Klein, focuses in on four parts of the excessive branding going on in the world today, “No Space", "No Choice", "No Jobs", and "No Logo." () These four confrontational ideas that Klein speaks about throughout “No Logo” are the basis to her resistance. “I was an angry bystander. I'd no power to intervene, and had no intention of dropping the work I was already committed to, not in order to raise someone else's awareness, promote greater indignation, or organize.” (Resitance) Lopez begins resistance with the short story “Apocalypse,” () a key short story to...
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...trouble. The approach used here presents statistical concepts graphically and in words to overcome this pedagogical roadblock. It's worth noting that while we minimize the statistics used in the theoretical development of the CAPM, we don't skimp on the algebraic math required to apply the SML. TEACHING OBJECTIVES Instruction should begin motivating the study of risk and return by explaining that higher long-term returns are available on equity than on debt but that there's an associated risk. Point out that the objective of investing is to take advantage of the high returns of equity while avoiding as much risk as possible, and that this is done by investing in diversified portfolios. The issue is how do we choose stocks to go into those portfolios, and what are the pricing implications of those choices. After studying this chapter students should have a good understanding of the relationship between risk and return in both everyday terms and...
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...of covered call. Though this strategy does protect from great losses, it doesn’t have great upside potential. The strategy that is most aggressive is the If owned Lotus stock, and as an investor worried about bad news, the strategy to go with is the option strategy. This strategy protects against a stock that has large variations in the price. However, if the price is stable and not much movement in the stock, great losses can pursue from this strategy. In regards to the premium that is purchased, if the stock price doesn’t hit the strike price then the premium on this option will be lost. Therefore, the options strategy is smart to go with if you believe tha the stock is unstable, you are risk adverse, and want to protect from losses. Also, the put strategy has the greatest upside for returns due to the reason that AT&T receives 59% of its revenue from long distance service. Hence, the market share of AT&T dominance in telecommunications has an uphill battle with new technologies coming onto the scene. In order to protect in thos situation of a stock price falling, the put option would have potential to make money. However, Lotus being in the sector of technology has potential to have positive gains, and therefore would be best suited in a call option. This situation is betting on that the stock price may have a great opportunity to have great...
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...George Chiu Armen Odadjian Mengyang Wu FBE459: Stock-Trak End of Semester Report Our portfolio had a return of +6.97% as of November 28th compared with a +3.86% return on the S&P 500 in the same time period. We ended with a Sharpe Ratio of 4.30 and portfolio beta of 0.23. Over 136 trades, we employed various option strategies, longed and shorted equities, speculated on commodities with futures, and invested in fixed income securities. Listed below are a few highlights and in-depth analysis of the strategies that we used. Protected Put Ticker | Position | Cost | Strike | S0 | ST | Profit/Loss | MU | Long | | | 30.61 | 34.30 | +$369.00 | | Buy Put | 1.72 | 31 | 30.61 | 34.30 | -$172.00 | DVN | Long | | | 59.02 | 67.20 | +$818.00 | | Buy Put | 1.60 | 57.5 | 59.02 | 67.20 | -$160.00 | SSYS | Long | | | 116.63 | 102.42 | -$1,421.00 | | Buy Put | 6.70 | 115 | 116.63 | 102.42 | +588.00 | *where S0= price at position open and ST=price at position close On October 22, we entered into three protect put strategies for Micro Technology (semiconductor maker), Devon Energy Corp. (energy company), and Stratasys, Ltd. (3-D printer maker). Our team believed that each company would outperform their peers in their perspective industries. Each company, however, operates in volatile industries. The semiconductor industry suffers from cyclical demand and producers often see margins slashed due to constant price wars. The stock prices of energy companies often fluctuate with...
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...discuss the various issues regarding the options market and how it affects U.S. markets and institutions. This includes a breakdown of the options market, the market makers’ role, and how the options market affects the equity market. Options Market Nowadays, many investors’ portfolios include investments such as mutual funds, stocks, and bonds. But that is not all there is for investors to invest in. Another method of investment is called options, and it brings a world of opportunities for investors. However, options are complex securities and can be extremely risky. Options, as the name implies, give the option to the buyer to either sell or buy a stock for a given price. The right to buy stock at a given price is called a “call option” and the right to sell it is called “put option”. Options were designed to take advantage of the volatility in the market and are used by investors to speculate on the price movements of the underlying stock, to adjust risk and returns of their portfolios, and even for hedging purposes (Milton 2014). There are investors that go even further and exclusively trade options rather than a combination of options and stock. This allows them to save on transaction costs, avoid tax exposure, and market restrictions. Over the years, options have been getting...
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...Assignment Title An Assignment Submitted by Name of Student Name of Establishment Class XXXX, Section XXXX, Fall 2011 The Business Mission and Vision of the Wal-Mart Company Q 1 A) Find and list the names of the Board of Directors for the Wal-Mart Company. Members of the Board of Directors of the Wal-Mart are: Aida M. Alvarez (joined Wal-Mart in 2006) - a director for UnionBanCal Corporation; James W. Breyer (joined Wal-Mart in 2001) - a director of RealNetworks, Inc., Marvel Entertainment, Inc., and several private companies; M. Michele Burns (joined Wal-Mart in 2003) – a director for Cisco Systems, Inc. James I. Cash, Jr. (joined Wal-Mart in 2006) - a director of The Chubb Corporation, General Electric Company and other private companies, and former director of Microsoft Corporation. Roger C. Corbett (joined Wal-Mart in 2006) - a director of The Reserve Bank of Australia, Fairfax Media Limited, and Chairman of the board of directors ALH Group Pty Limited. Douglas N. Daft (joined Wal-Mart in 2005) - a director of The McGraw-Hill Companies, Inc. Michael T. Duke (joined Wal-Mart in 2008) - Chairman of the Global Compensation Committee Marissa A. Mayer (joined Wal-Mart in 2012) - Vice President of Local and Maps for Google Inc. Gregory B. Penner (joined Wal-Mart in 2008) - Former general partner at Peninsula Capital, an early stage venture capital fund Steven S Reinemund (joined Wal-Mart in 2010) - A director of Exxon Mobil Corporation, American Express Company...
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...APPLICATION OF ARIMA MODEL FOR TESTING “SERIAL INDEPENDENCE” OF STOCK PRICES AT THE HSEC Cao Hao Thi – Pham Phu – Pham Ngoc Thuy School of Industrial Management HoChiMinh City University of Technology ABSTRACT The paper is an attempt to test the “serial independence” of stock prices at HoChiMinh City Stock Exchange Center (HSEC) in Vietnam by applying the ARIMA model for preliminary assessment in terms of its market efficiency. From findings derived, it appears to be that: (a) ARIMA model could be applied for testing the serial independence of stock prices at the HSEC; (b) It is failed to prove that the HSEC market is not a weak-form efficient one; and (c) the “sheep flock effect” psychology is a factor dominated at the HSEC during the past two years. INTRODUCTION The first stock exchange floor of Vietnam named “HoChiMinh City Stock Exchange Center” (HSEC) was officially opened in HCM City on July 20, 2000. After two and half years of operation, there are now 21 listed stocks and 41 bonds traded on the HSEC with a total capitalization of about VND 5,200 billion. This would be seen as a first success on the way of setting-up SEC in Vietnam. VN-Index of the HSEC, however, has experienced a truly ups and downs movement and changed considerable during almost last two years. In the first section on July 28, 2000, VN-Index was 100 points and increased to a peak of 571.04 points in June 25, 2001 before sliding to lower 150 points in the first...
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...Call and Put Options All stock trading depends on 2 terms. Either you could be bullish or bearish. Depending on whether you are bullish or bearish on the underlying stock, you could purchase either a call option or a put option. Buying a call Option When you buy a call option, you hold the right to buy a specified quantity of the underlying stock at the strike price on or before the expiration date. If you are bullish on a stock you could purchase a call option at a predetermine (Called it as the strike price) that is lower than the appreciation you expect then, if all goes well and the stock price does rise beyond the strike price + the premium you have paid, on or before the expiration of the contract, you can exercise your option to buy the stock at the strike price and simultaneously sell it in the spot market. i.e. the cash market to book your profit. If, on the other hand the price of the stock in the cash market does not rise beyond the strike price + premium, you can let the contract lapse, i.e. you do not buy the underline stock at the strike price. Your loss in such a case would be premium you have paid. However in India equity options and futures are currently cash settled and are not settled by delivery. Example Current spot price per share = Rs 100 Premium payable per share = Rs 10 ABC company has a lot size = 50 shares If the spot prices rises to Rs 120 per share before the contract expires you could exercise your option to buy the shares at Rs 100 and...
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...Lecture 1 Capital Market and Long Term Finance * Capital Formation (Raise capital to increase their assets and fund working capital) * Markets * Common Stock (long-term security) * Bonds (long-term security) * Derivatives (long-term security) Financial Markets * Exchanges * Specialists (NYSE has SPECIALISTS maintain an orderly market in a stock at a trading station) * Intermediary Firms (NASDAQ has INTERMEDIARY FIRMS maintain a market for a given share * Publicly Traded (Security, corporations register through the FCC) Forms of Ownership * Partnership * Corporation (Shareholders have limited liability of their own share) * Privately Held * Publicly Trade Common Stock: Is a share in the ownership of the firm Issuer Advantages (the company): 1. Beyond the public offering there are no fixed charges. 2. There is not fixed maturity. 3. Common stock increases the credit worthiness of a firm. 4. Common stock can at times be sold more easily than debt. Issuer Disadvantages (the company): 1. Extends voting rights or control to additional stockholders 2. Gives more owners the right to share income. 3. Initial costs of “underwriting” and distribution are higher than bonds. 4. Changes the debt/equity mix of the firm. 5. Dividends are not deductible form taxable income. (why isn’t dividends a deductible for companies) Investor Advantages (the individual): 1. Participate in growth of firms...
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...pressure for political causes in the absence of tangible group interests. The last two decades have brought about substantial changes in the environmental policies of most Western industrial nations. These changes are due in large part to the effective mobilization of public support by the enviThe authors thank Jane Phillips for assistance with data analysis and the Academic Computing Service and Graduate School of George Mason University for research support. Requests for reprints should be sent to Paul C. Stern, National Research Council, 2101 Constitutional Avenue, N.W., Washington, D.C. 20418. 204 Population and Environment, Volume 8, Number 3 & 4, Fall/Winter 1985-86 © 1986 Human Sciences Press 205 PAUL C. STERN ET AL. ronmental movement. Such mobilization presents an interesting problem to social scientists in that simple models of self-interested behavior cannot...
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