[PDF] Top 20 CFA 2018 Level 2 Portfolio Management

... optimal portfolio is the sum of the active weights times active returns for each ...optimal portfolio is the square root of the sum of active weights squared times the active volatility squared for each ... Lihat dokumen lengkap

... ü Portfolio C assumed more active factor risk related to the style factors, but B assumed more active specific ...greater level of B’s active specific risk that B is somewhat less diversified than ...ü ... Lihat dokumen lengkap

... [r] ... Lihat dokumen lengkap

... management companies, so the REIT receives only passive rental income. Hotels are exposed to revenue volatility driven by changes in business and leisure travel, and the sector’s cyclical nature is intensified by ... Lihat dokumen lengkap

... 15. By adjusting terminal value using Scenario analysis = Adj. TV = (% prob. scenario 1 × expected E × expected P/E multiple) + (% prob. scenario 2 × expected E × expected P/E multiple) + … + (% prob. scenario n × ... Lihat dokumen lengkap

... 08/21/17 06/23/18 10 6 Hours Two parts of 3 Hours 18 10 Item Sets Morning 10 Item Sets Evening Study Seission No: I 1-­‐2 Month Week Dates Activity Study Session Reading Topics [r] ... Lihat dokumen lengkap

... stated level of significance indicates that at least one of the coefficients is significantly different than zero, which is interpreted to mean that at least one of the independent variables in the regression ... Lihat dokumen lengkap

... The planning step in the portfolio management process includes understanding the client’s needs and preparation of an investment policy statement.. Asset allocation and security analysis[r] ... Lihat dokumen lengkap

... Example 3: Evaluate Projects Under Capital Rationing Ø Omni Corporation has a $3,000 capital budget Investment Outlay NPV Profitability Index Project A 1,650 $700 1.42 Project B 1,[r] ... Lihat dokumen lengkap

... Last 12-months real estate NOI $270,432 Less: Non-cash rents - $7,667 Plus: Adjustment for full impact of acquisitions (1) + $4,534 Pro forma cash NOI for last 12 months = $267,299 Plus: Next 12 months growth in NOI ... Lihat dokumen lengkap

... investment portfolio and increase its ...current portfolio, he invests 4% in this seed fund, leaving the portfolio’s total equity exposure still well below its upper ... Lihat dokumen lengkap

... 3. Analyst 1: While running a simulation, if there is a strong correlation across two inputs, we can pick only one of the two inputs. We can pick the input that has a bigger impact on value. Analyst 2: While ... Lihat dokumen lengkap

... revenues of $20 million this year. Fixed capital investment was $2 million, and depreciation was $3 million. Working capital investment equals 7.5% of sales every year. Net income, fixed capital investment, ... Lihat dokumen lengkap

... Carl Dursham recently earned the CFA designation and has just been hired by Quad Cities Consultants, which is a money management firm for private, high net worth clients. Quad Cities Consultants has just ... Lihat dokumen lengkap

... Ø A 6% annual-pay bond, with par value of $1,000, is maturing in 3 years. Assume all rates are continuously compounded, using the information in the following table, calculate the present value of expected loss for the ... Lihat dokumen lengkap

...  Higher volatility of the benchmark rates used in a binomial tree, the computed value of a callable bond will be lower, therefore closer to its actual market price. The constant spread needs to be added to the benchmark ... Lihat dokumen lengkap

... Finally, White gives an example of the application of the Fundamental Law of Active Management by evaluating the performance of Shenzua Investment Management Company. White states, "Shenzua may be ... Lihat dokumen lengkap

... • Dornbusch overshooting model: in the short run, an increase in domestic money supply will lead to higher infl ation and the domestic currency will decline to a level lower than its PPP value; in the long run, as ... Lihat dokumen lengkap

... consists of long-term German debt instruments with 8.5 to 10.5 years to maturity. They are traded on the Eurex. Suppose the underlying 2% German bund is quoted at € 108 and has accrued interest of € 0.083 ... Lihat dokumen lengkap

...  An economy’s growth rate will move towards its steady state regardless of the initial capital to labor ratio or level of technology. In the steady state, the growth rate in productivity (i.e., output per worker) ... Lihat dokumen lengkap