1 the fsa has identified four stages of an action for these purposes
The Four Pillars of Investing: Lessons for Building a Winning Portfolio_2 ppt
... virtually the same: 11 .89% for the EAFE versus 12 .17 % for the S&P 500, with end-wealths of $36.44 and $39.43, respectively In a world in which billions of dollars of capital can be instantaneously ... 11 , 20 01, many investors were encouraged by 16 The Four Pillars of Investing the apparent economic vigor and safety of the post-Cold War world And, yet, both the logic of the markets and history ... the value of the prestiti that your family has had registered at the loan office in the Piazza San Marco for the past few generations From your own experience and that of your parents and grandparents,...
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The Four Pillars of Investing: Lessons for Building a Winning Portfolio_3 potx
... 14 .55% 17 .87% 17 .10 % 12 .77% 5.45% 15 .77% 14 .90% 13 .84% 20. 61% 17 .62% 26. 51% 21. 63% 16 .55% 7.55% 13 .25% 9.46% 10 . 01% 11 .44% 13 .47% 10 . 51% 10 .34% 12 .59% 5.30% 19 .35% 11 .96% 11 .27% 7.00% 4.62% 7.64% ... 17 .25 18 .63 20 .12 21. 72 23.46 $14 0.00 $13 6 .11 $13 2.33 $12 8.65 $12 5.08 $12 1. 61 $11 8.23 $11 4.94 $11 1.75 $10 8.65 $10 5.63 $10 2.69 $99.84 $97.07 $94.37 $ 91. 75 $89.20 $86.72 $84.32 $ 81. 97 $79.70 $77.48 ... 6 .15 7.08 8 .14 9.36 10 .76 12 .38 14 .23 16 .37 18 .82 21. 64 24.89 28.63 32.92 37.86 43.54 50.07 57.58 66. 21 76 .14 87.57 10 0.70 11 5.80 13 3 .18 15 3 .15 17 6 .12 202.54 232.92 267.86 308.04 $14 0.00 $12 7.83...
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The Four Pillars of Investing: Lessons for Building a Winning Portfolio_4 pdf
... correct for the amount of cash and test the significance of his results Figure 3 -1 is a plot of how the funds did relative to the market, adjusted for risk It displays the performance of the funds ... past performance For each five-year period, they select the 30 best-performing domestic mutual funds They then follow the performance of these best performers forward I’ve displayed their data ... superior performance from 19 70 to 19 74; then their performance from 19 75 to 19 98 was followed and compared to that of the average mutual fund (checkered bar) and the S&P 500 (gray bar) Note that for...
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The Four Pillars of Investing: Lessons for Building a Winning Portfolio_5 docx
... category for the five years ending March 31, 20 01 The rankings are percentile rankings, ranging from a ranking of for the top percentile and 10 0 for the worst: Index Fund/Index Ranking Vanguard Large-Cap ... a mix of 60% S&P 500 and 40% Lehman Bond Index As you can see, more than 90% of these plans underperformed the 60/40 indexed mix Discouraged by this failure of active management, these plans are ... 0.4% for the largest, most liquid companies, and increases with decreasing company size For the smallest stocks it may be as large as 10 % It is in the range of 1% to 4% for foreign stocks The...
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The Four Pillars of Investing: Lessons for Building a Winning Portfolio_6 pot
... past the cusp of one of the greatest speculative bubbles of all time For this generation, the horses are already out of the barn, and it may be another 30 years the typical 12 9 13 0 The Four Pillars ... track record of accurate foreign returns For the period, this index shows an 11 .89% annualized return for foreign investing, versus 12 .17 % for the S&P 500 Why invest in foreign stocks if their returns ... agency, and municipal bonds For the purposes of this book, when we use the term “bonds” we are intentionally excluding 11 4 The Four Pillars of Investing Table 4 -1 19 01 2000, 10 0-Year Annualized...
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The Four Pillars of Investing: Lessons for Building a Winning Portfolio_7 doc
... But the users of this technology the East India Company and the Tops: A History of Manias 14 3 other great trading corporations of England and Holland—made vast fortunes with it This is another ... become fertile for the seeds of financial speculation The Go-Go Market and the Nifty Fifty The speculative binge spanning the years 19 60 to 19 72 was unlike any other in the history of finance, encompassing ... head of steam.” By late 18 44, the three largest railway companies were paying a 10 % dividend, and by the beginning of 18 45, 16 new lines were planned and 50 new companies chartered These offerings...
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The Four Pillars of Investing: Lessons for Building a Winning Portfolio_8 ppt
... European, Japanese, and Pacific Rim stocks—and analyzed their performance at five-year intervals during the period from 19 70 to 19 99 From 19 70 to 19 74, the top performer was Japan; but in the next ... downright dangerous For example, after the 19 87 market crash, the 17 6 The Four Pillars of Investing financial page of most newspapers printed a plot of the pre-crash stock rise and fall in the 19 25 19 33 ... Fifty market of the early 19 70s and the more recent mania over Internet and tech stocks, the importance of earnings growth was overemphasized The only companies worthy of purchase were the well-run...
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The Four Pillars of Investing: Lessons for Building a Winning Portfolio_9 pdf
... 0.83% 13 .98% 0.96% 14 . 21% 1. 06% 13 .76% 1. 09% 14 .36% 1. 12% 14 .67% 1. 17% 13 .07% 1. 07% 13 .48% 1. 17% 13 .95% 0.98% No-Load Funds Ten-Year Return Expenses 13 .33% 1. 70% 13 .58% 1. 65% 13 .66% 1. 64% 13 .53% 1. 82% ... to the bottom So, (12 ,000 Ϫ 15 0)/ (10 ,500 ϩ 15 0) ϭ 1. 113 ; your return was 11 .3% If you had a net outflow of $300, then you the reverse—add to the top, subtract from the bottom So, (12 ,000 ϩ 15 0)/ (10 ,500 ... smallest of investors—first began to transform the financial landscape in the 19 20s The excesses and imperfections of this early period were ironed out by the Investment Company Act of 19 40, resulting...
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The Four Pillars of Investing: Lessons for Building a Winning Portfolio_10 doc
... sales fee and a 1% annual 12 b -1 fee Paying these sorts of expenses to own an index fund boggles the mind and speaks to the moral turpitude of much of the industry There are other fund companies besides ... index funds carry a sales load of up to 6%, and another 30% carry a 12 b -1 annual fee of up to 1% per year for marketing The most notorious of these is the American Skandia ASAF Bernstein (no relation!) ... 17 years (19 66 19 82), the real return of the S&P 500 was zero The return for the last 13 years (19 83 19 95) was spectacular, bringing the real return for the whole 30year period from 19 66 to 19 95...
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The Four Pillars of Investing: Lessons for Building a Winning Portfolio_12 doc
... $1, 000 $1, 000 $1, 000 $1, 000 $1, 000 $1, 080 $1, 170 $1, 260 $1, 350 $1, 440 $1, 530 $1, 620 $1, 710 $1, 800 Emg Mkt Int’l Inflation Value P r o t Index Index Fund $1, 500 $1, 650 $1, 800 $1, 950 $2 ,10 0 $2,250 ... $8 ,10 0 $8,550 $9,000 $4,500 $5,000 $5 ,10 0 $6,000 $6,750 $7,500 $8,240 $9,000 $9,750 $10 ,500 $11 ,250 $12 ,000 $12 ,750 $13 ,500 $14 ,250 $15 ,000 $1, 000 $1, 000 $1, 200 $1, 350 $1, 500 $1, 650 $1, 800 $1, 950 ... $9,600 $10 ,200 $10 ,800 $11 ,400 $12 ,000 ShortTerm $2,000 $4,000 $6,000 $8,000 $10 ,000 $12 ,000 $12 ,000 $14 ,000 $14 ,000 $15 ,000 $16 ,000 $17 ,000 $18 ,000 $19 ,000 $20,000 Prec Met European Pacific $1, 000...
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The Four Pillars of Investing: Lessons for Building a Winning Portfolio_13 potx
... Parliament, 17 20), 13 9 14 0, 15 9 Bubbles diving engines, 13 4 13 5 English canals, 14 1 14 2, 15 8 railroads, 14 3 -14 5, 15 8, 15 9 16 0 South Sea Company, 13 7 14 1, 15 8 space race, 14 9 15 0 (See also Manias) Buffett, ... calculate the end-wealth after three years for each of the four assets in the same manner For U.S large, small, foreign, and REITs, these values are 1. 414 7, 1. 1436, 1. 3385, and 1. 0598 The unrebalanced ... Duke of, 14 1 Bridgeway Group, 216 , 250 Brinson, Gary, 10 7, 225 Britain canal building mania, 14 1 14 2, 15 8 GDP and technological diffusion, 13 2 13 4 railroad mania, 14 3 -14 5, 15 9 16 0 South Sea Company,...
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The Four Pillars of Investing: Lessons for Building a Winning Portfolio_14 docx
... 15 1 15 2, 15 3 Minsky’s theory of, 13 6, 14 0 new technology, impact of, 13 0 13 4 19 60 -19 70 (Go-Go years), 14 8 15 1 railroads, 14 3 -14 5, 15 8, 15 9 16 0 Roaring Twenties, 14 5 14 8, 15 3 space race, 14 9 15 0 ... 10 7 10 8 duration of, 237 examples, 12 4 12 6 global stock mix, 11 6 12 0 Graham’s recommendations, 15 8 risk and returns, 11 0 11 6, 11 1 11 2 sectors, 12 2 12 4 size and value, 12 0 12 2 PPCA Inc., 10 0 Precious ... origin of term, 13 8 The Millionaire Next Door (Stanley and Danko), 239 Minding Mr Market (Grant), 224 Minsky, Hyman, 13 6, 14 0, 14 4, 14 9, 15 2, 15 9 312 Mississippi Company, 13 7 13 8, 14 0 Modigliani,...
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Tài liệu The Role of Nutrition in Maintaining Health in the Nation’s Elderly: Evaluating Coverage of Nutrition Services for the Medicare Population ppt
... scientific and engineering research, dedicated to the furtherance of science and technology and to their use for the general welfare Upon the authority of the charter granted to it by the Congress in 18 63, ... with the acquisition of acute and chronic illnesses; and, in many elderly, with the loss of personal and financial independence These age-related changes are in part the basis of the significant ... counseling, in the treatment of cancer and the management of its symptoms For this reason, only evidence pertaining to enteral and parenteral nutrition therapy in the management and treatment of cancer...
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Báo cáo sinh học: "A comparison of four systems of group mating for avoiding inbreeding" pdf
... method of breeder rotation for non-inbred laboratory animal colonies Proc Anim Care Panel 10 , 15 9 -16 6 Rapp G (19 72) HAN-rotation, a new system for rigorous outbreeding Z Versuchstierk 14 , 13 3 -14 2 ... Biology An Evolutionary-Ecological Perspective (ME Soul6, BA Wilcox, eds), Sinauer Associates, Sunderland, 15 1 -16 9 Wright S (19 21) Systems of mating Genetics 6, 11 1 -17 8 Wright S (19 31) Evolution ... Steane D (19 84) Conservation of animal genetic resources in Europe Final report of the European Association of Animal Production Working Party Livest Prod Sci 11 , 3-22 Matheron G, Chevalet C (19 77)...
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báo cáo khoa học:" Psychometric properties of an instrument for assessing the experience of patients treated with inhaled insulin: the Inhaled Insulin Treatment Questionnaire (IITQ)" pdf
... African American 33 (6.5) 49 (8.6) Asian American (1. 2) 11 (1. 9) Hispanic 33 (6.5) 12 1 ( 21. 3) Other (1. 4) 12 (2 .1) 37.4 (13 .0) 55.4 (10 .2) 18 .4 (11 .6) 13 .1 (7.5) 76.6 (15 .1) 87.8 (17 .7) 26 .1 (3.8) ... administrations Three of the eight tests of change in means were significant (Perceptions of Insulin Therapy and Treatment Preference for type and Diabetes Worries for type 2), but the size of the change was ... 02/.03 07/.08 - .16 ***/- .16 *** -.06/-.05 -.00/-.09* -.05/- .11 ** - .11 */-.09* -.05/-.07 -. 01/ -.09* -.05/- .12 ** -. 01/ -.07 A1c (%) 00/. 01 -.03/-.06 - .14 **/- .11 ** SF-36 PCS -.07/.02 13 **/ .14 *** 04/.09*...
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Báo cáo y học: " A new pathway of glucocorticoid action for asthma treatment through the regulation of PTEN expression" pdf
... Research 2 011 , 12 :47 http://respiratory-research.com/content /12 /1/ 47 after emergency treatment, and reduce the morbidity of the illness The mechanism of glucocorticoids in asthma therapy has been ... the Shanghai educational Committee(No .10 YZ54) 16 17 18 19 Authors’ contributions ZHN carried out the molecular studies and drafted the manuscript JHT participated in the design of the study and ... Z, Sun L, Wang C, Yao W, Cai X, Jin J, et al: Post-transcriptional and post-translational regulation of PTEN by transforming growth factor-beta1 J Cell Biochem 2009, 10 6(6) :11 02 -11 12 Hayashi...
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spinoreticular tract neurons the spinoreticular tract as a component of an ascending descending loop
... reticular formation 1. 1.2 Spinoreticular tracts 1. 1.3 Reticulospinal tracts 1. 2 Lateral reticular nucleus (LRN) 1. 2 .1 1.2.2 1. 2.3 1. 2.4 1. 2.5 1. 2.6 1. 2.7 1. 2.8 1. 2.9 1. 3 Cells of origin of the lateral ... Table of contents VI List of Tables X List of Figures XII List of Abbreviations XVI Chapter Chapter Introduction 1. 1 The reticular formation (RF) 1. 1 .1 Subdivisions of the brain stem reticular formation ... This thesis has been composed by me and has not been previously submitted for examination leading to the award of a degree The copyright of this thesis belongs to the author under the terms of the...
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DEVELOPMENT OF STUDENTS’ ENGLISH FOR SPECIAL PURPOSES COMPETENCE IN TOURISM STUDIES AT TERTIARY LEVEL potx
... attitude changes, the aim of the ESP course is significantly widening – the language learning is changing into a means of acquiring of the profession The model for the development of students’ ... self-assessment of the students’ ESP competence at the start and at the end of the course, the comparison of their results showed in ‘English for Tourism Industry’ exam at the start and at the end of the ... cohesion and organization of the text E Tarone and G Yule (19 89) elaborated M Canale and M Swain’s classifications of communicative competence (Canale, Swain, 19 80; Canale, 19 83a, 19 83b) and they...
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Báo cáo hóa học: " Research Article Generalization of an Inequality for Integral Transforms with Kernel and Related Results" potx
... Inequalities and Applications Proof For a convex function ϕ, using the Definition 1. 2, we get the following inequality: ϕ y2 − ϕ y1 ϕ x2 − ϕ x1 ≤ x2 − x1 y2 − y1 3 .15 with x1 ≤ y1 , x2 ≤ y2 , x1 / x2 , and ... x u1 x /u2 x t dx x u1 x /u2 x s dx ⎠ 2. 51 We see that the right-hand side of 2.49 is mean, then for distinct s, t ∈ R it can be written as Ms,t t s 1/ t−s 2.52 12 Journal of Inequalities and ... v1 x /v2 x and B x b a s r x B x dx 1/ 1 s ⎟ ⎠ , u1 x /u2 x Remark 2 .19 In the case of Riemann-Liouville fractional integral of order α > 0, we well use α the notation Ms,t instead of Ms,t and...
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