...Portfolio Strategy Portfolio Strategy This paper will focus on 23 global emerging markets studied by Goldman Sachs Investment Research. In this paper I will revise the initial portfolio strategy from 1999 that touched on long-term perspective on short term risk. The emerging countries are within Asia, Latin America, Eastern Europe, and Middle East. The information the company provided was strictly based on a predicted study of future outcomes based on emerging markets. The paper of itself does not issue a company strategy on how to use the information found. In this paper I will use scenarios the company presents and determine how Goldman Sachs should invest 5 million dollars recently received to maximize its wealth. In the overview Goldman Sachs mentioned: That they developed a model of discount rate determination that permits the company to recreate discount rate history and calculate discount rates for 23 emerging markets over the last 25 years. The comparison of current discount rates versus their long-term trend has powerful investment implications and turns the investment decision on its head. Abnormally high discount rates relative to history (normally interpreted as punishing cash flows) may be a buy signal, while abnormally low rates may be a sell signal. Current emerging market discount rates are approximately in line with their five-year moving average. From purely a risk perspective, Asian markets appear undervalued, while Latin America and EMEA...
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...other people, heirs, or estates if the partnership agreement is set up that way. But partnerships can also be risky. The business and personal related acts of one partner can legally bind all other partners. So it's very important that you enter into partnerships only with people you trust. It is equally essential that, no matter how much you trust your partners, you have a written document stating what happens if you or your partner retires or dies. Another disadvantage of doing business as a partnership is that all partners are potentially personally liable for all business debts and lawsuits. At a minimum, each partner is financially responsible for his or her share of the business debt. But in many cases, it is the partner with the greatest assets...
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...UNIVERSITY OF MARYLAND Robert H. Smith School of Business BMGT343 – Investments Fall 2014 I. Information on Instructor Instructor: Professor Xiaohui Gao Bakshi Email: xiaohui@rhsmith.umd.edu (preferred method of contact) Office: 4426 Van Munching Mobile Phone: (240) 507 9877 Course Notes are on Canvas Office Hours: Tuesdays & Thursdays, 2pm to 3pm, and I am always available so always feel free to contact me. Class meeting venue and time: Section 0201 Tuesdays & Thursdays, 11am to 1215pm, VMH 1418 Section 0301 Tuesdays & Thursdays, 1230pm to 145pm, VMH 1418 Review sessions by the TA: some Thursdays, 5pm to 6pm, Review sessions by the instructor: some Fridays, 1245pm to 145pm, II. Course Description and Objectives • Required Textbook “Essentials of Investments”, by Bodie, Kane, and Marcus, McGraw-Hill, 9th edition • Required Course packet Purchase the course packet at: https://cb.hbsp.harvard.edu/cbmp/access/27906209 The course packet contains four cases. • Course Overview This course is an introductory course in investments. We cover the following topics (the chapters are from BKM): Note: The schedule given below is only tentative, and may be changed based on the progress of the class. It is a student’s responsibility to read the assigned chapters, as information in them may be part of a quiz or an exam. Week Week 1 Week 2 Week 3 BMGT343 Topic Introduction Debt securities – I Debt securities – II Reading Chapter 1, 2, and 3 Chapter 10 Chapter 11 Xiaohui Gao Bakshi ...
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...located in areas of drilling and production activities throughout the world (10-k) Placed managment close to customers to facilitate strong customer relationships and quick reactions to local market condutions and customer needs (10-K) Remote operation centers allow for the interpretation of data in the field to help customer's "steer" as drilling well (Youtube interview with Derek Mathieson) New advances: sand control for deepwater markets, MWD, LWD (EPMag Interview) Acquired BJ services Greatest competitive advantage in drill bits, packers and downhole motors Reputation for quality downhole tools and equipment (Seeking alpha) FracPoint completion system? Strategy to Increase Viability and Sustainability: Investments in technology R&D increased 12% in 2013 and 8% in 2012 Aquistions Branding strategy Increase brand recognition and value associated with brand Minimized use of BJ services trade name after acquistion to promote Baker Hughes branding strategy (10-k) Announced strategy transition in 2009 (still in...
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...relationship with their customers and clients. Therefore any inability of management relating to Loblaw and Shoppers acquisition could have effects on business they engaged in or affect their financial condition. Operational sides of both companies Another one of the major obstacles they encountered was operational upside such as the inclusion of a fresh food offering in Shoppers Drug Mart locations, expanding the health/beauty offering at larger Loblaw stores, and the ability to use Loblaw/Shoppers Drug Mart stores as a new property development in which they were able to manage it even after the acquisition. Loblaw is the Canadian greatest retailer in groceries while Shoppers drug mart is the leader in Canada’s retail drug store marketplace, but since the acquisition was announced, some of Loblaw’s branded cookies as well as organic baby food items have begun to appear on Shoppers shelves. Meanwhile, the drugstore’s Life brand products have been brought into Loblaw supermarkets. Retrieved by http://o.canada.com/business/shoppers-drug-mart-hot-fresh-food and more also, the Canadian market leader ‘Loblaw’ serves a broad target market and integrates a low cost strategy with product and...
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...Ariely’s incorporates a variety of rhetorical strategies to effectively present his argument, persuade the audience of his subject’s importance, and instruct them on methods of overcoming the tendency to make irrational decisions. His style of language switches back and forth between a formal and scientific tone with a conventional, familiar, and informal tone. Ariely demonstrates a good control in appropriately balancing his familiar style of speaking, implementing humorous personal anecdotes and lighthearted side comments, with his didactic tone when providing research and collected date, to inform the readers while keeping them amused and entertained. He first introduces the reader with the higher level information using high-level...
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...The United States is stable, militarily experienced, and the heart of the world’s democracy, but it was not always this way. This two hundred-forty year old nation has had its share of death and despair from nearly all races that step foot on it. One of the many atrocities America has faced is that of war. Two major wars have been fought on this land, but one revolution had the power to transform a group of thirteen unruly colonies to one united country able to conquer the world’s greatest empire. The Revolutionary War began as tensions grew between England and her North American colonies over who should have the power to tax and govern. After many petitions and pleas, the colonies were ready to rebel and start a nation without their mother...
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...Chapter 01 Investments: Background and Issues Multiple Choice Questions 1. Financial assets represent _____ of total assets of U.S. households. A. over 60% B. over 90% C. under 10% D. about 30% 2. Real assets in the economy include all but which one of the following? A. Land B. Buildings C. Consumer durables D. Common stock 3. Net worth represents _____ of the liabilities and net worth of commercial banks. A. about 50% B. about 90% C. about 10% D. about 30% 4. According 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...
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...Government (ACK1544E) Instructor: Allison Sloan November 30, 2015 The American national government has numerous upsides and downsides. There are numerous routes in which these can be altered with a specific end goal to make less issues for the national government. The key structures, frameworks, parts, and procedures that encapsulate our national government are extremely point by point and need exceptionally pivotal consideration while deciding the upsides and downsides of the administration. It is anything but difficult to take a gander at another nation and think about the legislatures together, as I would see it as taking a gander at America's administration contrasted with that of different nations, our own is in fact the most grounded paying little mind to the negatives that it has. There are many important written documents that we as American language look onto. Probably, one of the most important document that our country does utilize on a daily footing is the United Commonwealth United States Constitution. When the institution fathers created this document, the three watchword probably are “We the Hoi polloi,” this show that the US Constitution is deeply important and that the people are the ones that are protected with this. This is figure on the idea of: lifespan, shore leave and freedom. I believe that the US Constitution has been extremely important because it has lasted for so long. The only intellect that it could have lasted is because of the way that it was written...
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...HP: Stay or Leave the PC Industry The computer industry is a tough and competitive business. Companies are constantly competing to have the newest and greatest advancements in technology that will make their product the most appealing to consumers. It is a multi billion-dollar industry, but in mid August Hewlett Packard, the worlds largest PC distributor made the announcement that it planned to exit the Personal computer industry to focus on other aspects of their company. This shocked not only consumers, but also other competitors in the industry. Just a few months after Leo Apotheker, the CEO who made this decision, was fired from his position and replaced by Meg Whitman. When Whitman was hired she made it clear that “Apotheker's plan to exit PCs would still be considered.” For about three months this left Investors unsure about the HP stock and in just three days the stock dropped about $10 per share. It wasn’t until late October that Whitman officially announced the HP would stay in the PC business. Was this the right thing to do for the company or should they have exited the business to focus on other facets of the company? “Hewlett Packard’s revenue from last year was 92,755 million. The Personal Computer Group (PCG) brought in more that 30% of that revenue pulling in 30,458 million. Looking at this data it seems that getting rid of this line would be foolish and risky for the company. Apotheker though was focused more on the operating margin the PC industry was producing...
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...General Motors Maren Pöpsel Managerial Finance Ferhat Dastan Table of Contents Introduction 3 Historical Performance and Price 4 Historical Profitability 6 Historical Stockprice 7 Financial Statement Summary 8 Income Statement 8 Balance Sheet 9 Cash Flow Analysis 10 Ratio Analysis 11 Capital Structure 15 Equity Evaluation & Price Target 16 News and Highlights 17 Investment Upsides and Risks 18 Investment Recommendations 20 Introduction General Motor Company (NYSE: GM) is an American multinational automaker in the world. The company’s headquarter is in Detroit, Michigan. General Motor Company is one of the largest companies in the world. The company was founded on September 16, 1908 in Flint, Michigan as a holding company for Buick luxury cars and controlled by William C. Durant. General Motor Company produces cars and trucks in 37 countries and sells services for some brands such as Chevrolet, Buick, Cadillac, Isuzu, Holden, GMC, Jie Fang, Opel, Vauxhall, Baojun, and Wuling. Also, it is doing business with 157 countries and 202,000 employees worldwide. There are four different automotive segments for automotive operations include GM North America (GMNA), GM Europe (GME), GM International Operations (GMIO) and GM South America (GMSA). Also the company provides automotive financing services through General Motors Financial Company, Inc. (GM Financial). General Motor led global sales for 77 consecutive years from 1931 through...
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...Supply Chain Management 3.8 Inventory Management 3.9.4 Just in Time (JIT) and Lean Operation 3.9.5 Material requirement planning 3.9 Scheduling 3.10.6 Aggregate planning 3.10.7 Short Term Scheduling 3.10 Human Resources, Job Design 3.11.8 Job Rotation 3.11.9 Job Enlargement 3.11.10 Job Enrichment 3.11 Maintenance Introduction Operational management is a core field that should be focused more in order to have an efficient and all around sorted out operation. These days, a considerable measure of organizations have effectively adjusted numerous ideas in operation management like Service and Product design, Product and Capacity Design, Location Strategies, Inventory Management and numerous more keeping in mind the end goal to have in the best and most effective operation with the least cost. The benefit will be at an ideal level while we apply every one of the ideas in operational administration in the business. When all is said in done, these ideas have been connected to every one of the organizations all around the globe incorporate a wide range of administrations and items that they offer. All the administration and item organizations are...
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...organizational effectiveness to the management aspect of criminal justice organizations and personnel will help supervisors and administrators to be truly effective in operating and managing a criminal justice entity. Prioritizing, obtaining constructive feedback, and keeping your focus on specific tasks at hand are all important tools to successfully and effectively manage a criminal justice entity. Define Organizational Effectiveness Organizational effectiveness is the concept of how effective an organization is in completing and achieving the greatest outcomes within the organization that will produce the best results, according to Dwight Milhalicz 2012. He believes that the short term areas of organizational effectiveness are just as important as the sustainability, concerns for others, and the corporate culture of the organization (Milhalicz 2012). Strong management and leadership are key in demonstrating to others that communication and strategy methods are necessary when attempting to lead an organization. The meaning of organizational effectiveness is universal in that it is the survival and competitive edge in the 21st century (Mihalicz 2012). Organizational Effectiveness and Managing Criminal Justice Personnel In today’s society and the rapidly evolving...
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...5 a day The aim of the exercise is for you to set time aside each day, asking yourself 5 interesting questions a day. The 5 a day exercise is well-suited to set as a challenge for personal development. Instructions The purpose of this exercise is to reinforce the habit of asking questions and considering options. This exercise will work most effectively if you try not to evaluate your ideas, and be open to unusual questions. Some suggestions would be to ask 5 a day about… • Things you do not know about • Places you would like to visit and why • Famous people you would like to have had a conversation with and why • Things you accept without questioning • Things that make you very happy • Things that make you very annoyed or angry • Find five reports of the same story in the newspaper or on the internet and consider the similarities and differences. • What are the next 5 a day topics I should think of? • What are the next 5 a day topics I should think of? The topics for the 5 a day are not important but it is essential that the topics are of personal interest and that you make the time for consideration. It is important that you learn to follow your natural curiosity and ask your own questions when adopting the 5 a day exercise. Discussion points • As you practiced the 5 a day exercise more, did you find it easier to think freely? • Were some topics easier to think about than others? Debriefing • We often...
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...efficient and no one has the ability to consistently pick stocks that will beat the market. Over any given period, some lucky investors will outperform the market while others will underperform. DFA felt that the market price of any firm’s stock incorporated all public information and therefore did not do any fundamental analysis on the firm in question. 2. The value of sound academic research. For example, DFA’s founders believed that small-stock investing could yield high returns to investors. They formulated this belief on the Ph.D. dissertation research of Rolf Banz of the University of Chicago, which showed that small stocks had consistently outperformed large stocks between 1926 and the late 1970s. 3. The ability of skilled traders to contribute to a fund’s profits even when the investment is inherently passive. DFA’s investment fund had a semi-active strategy between those of actively managed funds and those of pure index funds. * DFA counts on market behavior that reflects the following concepts: 1. The Beta is Dead. Stocks with high-beta do not have consistently higher returns than low-beta stocks. That is, greater risk does not guarantee greater reward. 2. The Size Effect (Small Minus Big). Based on the research that small stocks historically outperform large ones, DFA strategically built a micro-cap portfolio (9th and 10th NYSE deciles) and a small-cap portfolio (6th to 10th NYSE deciles). The company expanded this strategy to international markets...
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