'High beta stocks' diaporamas de présentation

Valuing Cash Flows II

Valuing Cash Flows II. Contingent Payments. Valuing Cash Flows. So far, we have been pricing securities with cash flows that are predefined and fixed. Given the stream of cash flows and an expected path for interest rates, the price of the instrument is simply the discounted value.

491 views • 49 slides

422 views • 34 slides

CAPM

CAPM. CAPM Assumptions. Frictionless markets No trading costs No taxes Unlimited borrowing and lending No restrictions on short sales Lending and borrowing rates are the same Investors care only about means and variances

602 views • 31 slides

Predictive versus Explanatory Models in Asset Management

Global Asset Allocation and Stock Selection. Predictive versus Explanatory Models in Asset Management. Campbell R. Harvey. Predictability versus Explanatory Models. Predictive model (example): [Model 1] r it = a i0 + a i1 YS t-1 + e it

589 views • 26 slides

CAPM and the Characteristic Line

1.26k views • 25 slides