stress pages 485 493 charles j holahan jennifer d ragan and rudolf h moos
fundamentals of investments, charles j corrado-mcgraw-hill-isbn 0072976357
... price, the result is the dividend yield: = Dt+1 / Pt = Dividend yield $1.85 / $37 = 05 = 5% This says that, for each dollar we invested, we received cents in dividends Risk and Return The second component ... the things that determine the value of the different assets we discuss and the nature of the associated risks One common characteristic that these assets have is that they are bought and sold ... expected return and a percent standard deviation, a zero return is two standard deviations below the average The odds of being outside (above or below) two standard deviations are percent; the odds...
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Charles J. Corrado_Fundamentals of Investments - Chapter 1 pdf
... price, the result is the dividend yield: = Dt+1 / Pt = Dividend yield $1.85 / $37 = 05 = 5% This says that, for each dollar we invested, we received cents in dividends Risk and Return The second component ... the things that determine the value of the different assets we discuss and the nature of the associated risks One common characteristic that these assets have is that they are bought and sold ... expected return and a percent standard deviation, a zero return is two standard deviations below the average The odds of being outside (above or below) two standard deviations are percent; the odds...
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Charles J. Corrado_Fundamentals of Investments - Chapter 2 potx
... funds In this case, you have hired four different money managers However, you decided what types of funds to buy, you chose the particular funds within each type, and you decided how to divide your ... than the deep-discounters and lower commissions than the full-service brokers Which type of broker should you choose? It depends on how much advice and service you need or want If you are the ... compensated for the service Mutual funds have become so important that we will shortly devote an entire chapter to them (Chapter 4) rather than give them short shrift here CHECK THIS 2.2a What is the difference...
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Charles J. Corrado_Fundamentals of Investments - Chapter 3 docx
... newspaper Which preferred stock issue of the company has the largest dividend yield? Which one was the most actively traded yesterday? Which one has traded at the highest dividend yield over the past ... start of trading, the high and low are highest and lowest prices for the day, and the settle is the price on the final trade of the day The "Change" is the change in the settle price from the previous ... pay cash dividends to their shareholders However, neither the timing nor the amount of any dividend is guaranteed At any time, it can be increased, decreased, or omitted altogether Dividends are...
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Charles J. Corrado_Fundamentals of Investments - Chapter 4 pot
... funds don't buy and sell shares Instead, there is a fixed number of shares in the fund, and these shares are bought and sold on the open market About 500 closed-end funds have their shares traded ... 15 D D D D A B D C B D C A A B D Answers to Chapter Questions and Problems Mutual funds are owned by fund shareholders A fund is run by the fund manager, who is hired by the fund’s directors The ... called front-end loads Funds that charge loads are called load funds Funds that have no such charges are called no-load funds (marg def front-end load A sales charge levied on purchases of shares...
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Charles J. Corrado_Fundamentals of Investments - Chapter 5 pps
... through December 1998 As indicated in the upper right-hand corner, the vertical bars in the chart indicate the range of 32 Chapter index high and low values on each trading day The dot on the right ... illustrating that the divisor can drop below 1.0 38 Chapter The Dow Jones Divisors The method we described of adjusting the divisor on a price-weighted index for stock splits is the method used to adjust ... stocks the DJIA is affected equally by dollar changes in low- and high-priced stocks the DJIA is affected equally by percentage changes in low- and high-priced stocks the DJIA divisor must be adjusted...
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Charles J. Corrado_Fundamentals of Investments - Chapter 6 pps
... listings and record their dividnd yields Identify the Dow stocks with the lowest dividend yields and, just for fun, also record the Dow stocks with the highest dividend yields You might try investing ... is the dividend discount model, or DDM The dividend discount model values a share of stock as the sum of all expected future dividend payments, where the dividends are adjusted for risk and the ... and be discounted at the rate k The current dividend is D( 0), the next dividend is D( 1) = D( 0)(1+g), the following dividend is D( 2) = D( 1)(1+g), and so forth The present value of the next T dividends,...
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Charles J. Corrado_Fundamentals of Investments - Chapter 7 pptx
... securities and the payment of dividends.) Operating cash flow is the first of three cash flow categories reported in the cash flow statement The second and third categories are investment cash flow and ... income / Shares outstanding Cash Flow per share = Operating cash flow / Shares outstanding Dividends per share = Dividends paid / Shares outstanding Stock repurchase A company repurchase of common ... complete the analysis of Adolph Coors, projected profitability ratios and per-share values under increased and decreased sales scenarios are reported immediately below and compared with their original...
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Charles J. Corrado_Fundamentals of Investments - Chapter 8 doc
... 1998, the DJIA opened at 9010.99 and closed at 8986.28 The high and low were 9158.26 and 8870.42 Describe the candlestick that would be created with this data The body of the candle would be black ... high and low prices for the day Figure 8.2 about here To a candlestick chartist, the length of the body, the length of the shadows, and the color of the candle are all important Plots of candlesticks ... (marg def hi-lo-close chart Plot of high, low, and closing prices.) Hi-Lo-Close and Candlestick Charts A hi-lo-close chart is a bar chart showing, for each day, the high price, the low price, and...
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Charles J. Corrado_Fundamentals of Investments - Chapter 9 ppt
... from other banks through the Federal funds market Therefore, the Fed discount rate and the Fed funds rate are closely linked The Fed funds rate is normally slightly higher than the Federal Reserve's ... price for this T-bill assuming a bid discount of 5.54 percent Notice that the asked is higher than the bid price even though the asked discount is lower than the bid discount The reason is that a ... bills and bonds in detail in this chapter and the next chapter For now, it is enough to know that bills are short-term and bonds are long-term, so what is plotted in Figure 9.1 are short- and long-term...
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Charles J. Corrado_Fundamentals of Investments - Chapter 10 pot
... yield = Yield to maturity Thus when a premium bond and a discount bond both have the same yield to maturity, the premium bond has a higher current yield than the discount bond However, as shown ... Summary and Conclusions This chapter covers the basics of bonds, bond yields, duration, and immunization In this chapter we saw that: Bonds are commonly distinguished according to whether they are ... a discount bond? Why? Bond Yields What is difference between a bond’s promised yield and its realized yield? Which is more relevant? When we calculate a bond’s yield to maturity, which of these...
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Charles J. Corrado_Fundamentals of Investments - Chapter 11 pptx
... maturity of the bond, a dealer bid price and the change in the bid price from the previous day, and the bond's yield The reported yield is either a yield to maturity or a yield to call, whichever is ... preferred dividends However, companies that issue preferred stock must treat preferred dividends the same as common stock dividends for tax purposes, and therefore cannot deduct preferred dividends ... the mortgage bondholders have been satisfied (marg def senior debentures Bonds that have a higher claim on the firm’s assets than other bonds.) (marg def subordinated debentures Bonds that have...
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Charles J. Corrado_Fundamentals of Investments - Chapter 12 pdf
... bid-ask spread The difference between a dealer’s ask price and bid price.) The difference between a dealer's asked and bid prices is called the bid-ask spread The bidask spread measures the dealer's ... newly issued municipal bonds have had to be registered - that is, with the identity of all bondholders registered with the issuer With registered bonds, the issuer sends coupon interest and principal ... Notice that triple-A and double-A ratings are denoted as AAA and AA, respectively, by Standard and Poor's and Fitch, but as Aaa and Aa, respectively by Moody's Also notice that “triple-B” and “double-B”...
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Charles J. Corrado_Fundamentals of Investments - Chapter 13 ppt
... paid off, the PAC cash flow schedule is abandoned and all mortgage pool cash flows are paid to PAC bondholders CHECK THIS 13. 6d A PAC 100/300 bond based on a pool of fully modified 30-year fixed-rate ... the MBS The third column is the change in the price from the previous day The fourth column shows the estimated average life of the mortgages in the underlying pool The fifth column gives the ... pools, less the standard servicing and guarantee fees However, the guarantees on FHLMC and FNMA pass-throughs are not exactly the same as for GNMA pass-throughs Essentially, FHLMC and FNMA are...
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Charles J. Corrado_Fundamentals of Investments - Chapter 15 doc
... volatility, and the dividend yield Increasing the time to expiration increases the value of an option The reason is that the option gives the holder the right to buy or sell The longer the holder has that ... the dividend yield increases, the call price decreases and the put price increases This follows from the fact that when a company pays a dividend, its assets are reduced by the amount of the dividend, ... follow changes in the Standard and Poor's 500 index Therefore, you decide to use options on the S&P 500 index as a hedging vehicle S&P 500 index options trade on the Chicago Board Options Exchange...
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Charles J. Corrado_Fundamentals of Investments - Chapter 16 ppt
... dividend-adjusted spot-futures parity result in Equation 16.4 is to define d as the dividend yield on the stock Recall that the dividend yield is just the upcoming dividend divided by the current ... future), then we need to modify our spot-futures parity condition For a stock, we let D stand for the dividend, and we assume that the dividend is paid in one period, at or near the end of the futures ... the futures contract The most popular stock market indexes are the Dow Jones Industrial Average (DJIA) and the Standard and Poor’s 500 (S&P 500) Futures contracts for the DJIA trade under the...
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Charles J. Corrado_Fundamentals of Investments - Chapter 17 ppsx
... what combination of the stock fund and the bond fund has the lowest possible standard deviation? What is the minimum possible standard deviation? Recalling that the standard deviations for the ... and into the bond fund, we are not surprised to see both the expected return and the standard deviation decline However, what might be surprising to you is the fact that the standard deviation ... might suggest that half of our money has a standard deviation of 45 percent, and the other half has a standard deviation of 10 percent So the portfolio’s standard deviation might be calculated...
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Charles J. Corrado_Fundamentals of Investments - Chapter 18 ppsx
... and divide by - = We calculate the standard deviations by taking the square roots of the variances, and we find that the standard deviations for the security and the market are 18.87 percent and ... related to the risk-return trade-off Table 18.2 summarizes the various concepts in the order in which we discussed them indicated here, and it has implications beyond the scope of this discussion ... of what the yearly GDP figure will be To the extent that shareholders have predicted GDP, that prediction will already be factored into the expected part of the return on the stock, E(R) On the...
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Charles J. Corrado_Fundamentals of Investments - Chapter 19 ppt
... CHECK THIS 19.8a What are sponsored ADRs? What are unsponsored ADRs? 19.8b What are Level I ADRs and where are they traded? 19.8c What is the difference between Level II ADRs and Level III ADRs? ... covered in Figure 19.2, did the Greek drachma appreciate or depreciate relative to the dollar? What about the British pound? 12 Exchange Rate Changes In the previous question, did the drachma appreciate ... avoid confusing appreciation and depreciation, observe the rule that when the dollar price of pounds goes down this is exchange rate appreciation, and when the dollar price of pounds goes up this...
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Handbook of chemical industry labeling charles j OConnor, sidney i haber
... former Director of Health Standards for the Occupational Safety and Health Administration (OSHA), details the label requirements of OSHA’sHealth Standards and reviews OSHA’s latest label standard ... connected with the mood-tones “distressed, disturbed, upset,” and “defiant, hostile.” Yellow was most often connected with “cheerful, jovial, joyful,” whereas black was associated with “distressed, disturbed, ... which warned that the product was a cancer hazard In addition, the signal word was varied, showing either “caution,” “warning” or “danger;” and the number of additional hazards listed varied...
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