how bp almost became a dry hole

... became an assistant janitor Sachs started as a commercial paper salesman, covering accounts in Hartford and Philadelphia A few years later he was in Chicago, opening an account with J Ogden Armour ... pathbreaking concept that mercantile companies, such as wholesalers and retailers—having meager assets to serve as collateral for mortgage loans, the traditional foundation for any public financing ... to say that, in recognition of Sam’s energy and ability as a partner, and in honor of little Walter’s arrival, he was forgiving Sam the final payment Thus, Walter Sachs was able to say many years...

Ngày tải lên: 30/10/2014, 17:00

... even an option for many smaller asset managers; it is notable that all the groups in the Skandia range are top 30 players For those smaller managers that make it in, acting in a sub-advisory capacity ... enhance market share Therefore, many larger asset managers are looking beyond the UK as a vital growth strategy As wealth rebalances and shifts towards the East, managers targeting foreign markets ... both a challenge and an opportunity for traditional asset managers, creating competition as wealth managers in effect become asset managers while also creating a new revenue stream from acting as...

Ngày tải lên: 04/12/2015, 00:12

... T-bills and hence their market is not liquid Banker‘s acceptances are the vehicles created to facilitate commercial trade transactions These vehicles are called bankers acceptances because a bank accepts ... is, that investment analysis for decision making can be based on the large data sets available form the financial markets, such as stock returns, thus, the mathematical statistics methods can be ... the purchaser at a specified price at a designated future date Basically, a repo is a collectivized short-term loan, where collateral is a security The collateral in a repo may be a Treasury security,...

Ngày tải lên: 14/08/2014, 22:20

... vehicles that currently appear to be mispriced There are many different approaches how to make such analysis Most frequently two forms of analysis are used: technical analysis and fundamental analysis ... important for investors, trading large amounts By term of circulation of financial assets traded in the market: 21 Investment Analysis and Portfolio Management Money market; Capital market Money market ... portfolios based on them is necessary, because financial markets change, tax laws and security regulations change, and other events alter stated investment goals Measurement and evaluation of portfolio...

Ngày tải lên: 14/08/2014, 22:20

... total risk of investments can be measured with such common absolute measures used in statistics as variance and standard deviation Variance can be calculated as a potential deviation of each ... consequently can be calculated as the square δ root of the sample variance: δr = √ δ²r (2.8) 35 Investment Analysis and Portfolio Management Variance and the standard deviation are similar measures ... the cases than the arithmetic average return or sample mean of the returns is used instead of expected rate of return, sample variance and sample standard deviation is calculated Covariance and...

Ngày tải lên: 14/08/2014, 22:20

... more than two decades have passed since S Ross introduced APT model, it has yet to reach the practical application stage The CAPM and APT are not really essentially different, because they are developed ... to earn over the defined period of time abnormal rates of return by using information about historical prices and publicly available fundamental information(such as financial statemants) and ... rational, profit maximizing investors exist who are actively and continuously analyzing valuing and trading securities; Information is widely available to market participants at the same time and...

Ngày tải lên: 14/08/2014, 22:20

... Fundamental analysis The base for the company analysis is fundamental analyses are the publicly disclosed and audited financial statements of the company: 75 Investment Analysis and Portfolio Management ... converting raw financial statement information into a form that makes easy to compare firms of different sizes The analysis includes the examination of the main financial ratios: Profitability ratios, ... made analysis and forecasts for industries and for the economy In practice “top down” approach prevail in analysis and forecasting because logically for forecasting of the companies performance...

Ngày tải lên: 14/08/2014, 22:20

... usually are those that historically have paid a larger-than-average percentage of their net income after taxes as dividends to their shareholders and the payout ratio for these companies are ... valuation methods and using available information about the stocks from the data accumulated in the computer database, the valuation screens are set by investor All stocks on these screens are ... income are the main disadvantages of investment in common stock E-I-C analysis includes: Economic (macroeconomic) analysis, Industry analysis and Company analysis Two alternative approaches used...

Ngày tải lên: 14/08/2014, 22:20

... over valuate bonds and under valuated bonds There are many different active bond management (speculative) strategies The main classes of active bond management strategies are: The active reaction ... rather than simply its time to maturity Such concept, called duration (or Macaulay's duration) was developed by Frederick Macaulay Duration (Macaulay duration) can be calculated using formula: n ... valuated; 108 Investment Analysis and Portfolio Management If YTM = YTM * - bond is valuated at the same range as in the market and its current market price shows the intrinsic value (2) approach:...

Ngày tải lên: 14/08/2014, 22:20

... lead to greater trading by a large group of investors and may impact overall trading volume on the stock exchanges Alternatively, overall trading is lower after market declines Investors appear ... investments in separate accounts and each of them consider as alone, evaluating their gains or losses 127 Investment Analysis and Portfolio Management People have different mental accounts for each investment ... mental account Each mental account has an amount of money designated for that particular goal As a result, investor portfolio diversification comes from the investment goals diversification rather...

Ngày tải lên: 14/08/2014, 22:20

... Stock at Expiration Value of Premium on a Call and a Put Price of Stock at Expiration – Buy a Put and a Call (i.e., a Straddle) Write a Put a Call (i.e., a Straddle) Fig 7.4 Profit/ loss on a straddles ... options very rarely trade at their intrinsic values Instead, they almost always trade at the price that exceeds their intrinsic values Thus, put and call options nearly always are traded at the premium ... finding assets that match the expected risk and return of 131 Investment Analysis and Portfolio Management the mental account Each mental account has an amount of money designated for that particular...

Ngày tải lên: 14/08/2014, 22:20

... ratings Moody's Aaa Aa1 Aa2 Aa3 A1 A2 A3 Baa1 Baa2 Baa3 Ba1 Ba2 Ba3 B1 B2 B3 Caa1 Caa2 Caa3 Ca C - S&P AAA AA+ AA AAA+ A ABBB+ BBB BBBBB+ BB BBB+ B BCCC+ CCC CCCCC C D Fitch Ratings AAA AA+ AA ... Gallagher, D.R., Nadarajah, P (2004) Top management turnover: an analysis of active Australian investment managers // The Journal of Banking and Finance, winter 11 Gitman, Lawrence J., Michael ... fixed-percentage allocation 150 Investment Analysis and Portfolio Management Tactical asset allocation produces temporary asset allocation weights that occur in response to temporary changes in capital market...

Ngày tải lên: 14/08/2014, 22:20

... dessertation has analyzed and evaluated the state management systems, legal documents, PPP’s field, In each country, dessertation has research successful and failure reasons in application of ... The situation of applying PPP in the world The dessertation has studied the application of the PPP form in countries: USA, Canada, UK, Netherlands, China, India, Malaysia, and South Africa The ... decentralization and division to seperate part/work that leads to poor investment performance, lack of uniformity in the capital, manpower and management apparatus 1.3.3 Assessment o f conditions’s application...

Ngày tải lên: 07/09/2015, 10:21

... whenever PSO was triggered at different fitness evaluations by EALS-2 0a, EALS-5 0a, EALS-10 0a and EALS-50 0a 52 3.15 Mean fitness attained by (a) EA, (b) EAPSO2 0a and (c) EAPSO20 0a at different ... of EA, EA-RR, EA-MOA and EA-MOM and in the archive of EA-MOA and EA-MOM 65 3.23 Mean area for (a) EA, (b) EA-RR, (c) EA-MOA and (d) EA-MOM at different setting of τ and ... evolutionary local search, namely as follows: • Type of local optimizer • Integration approach • Candidate solutions for local search • Computational balance between global and local search CHAPTER...

Ngày tải lên: 12/09/2015, 11:00

... becomes As a result, local candidates need to rely on parties for financial support and reputation This argument, however, assumes that parties have reliable financial capacity and national reputation, ... institutionalization of Thailand's, party system, in comparison with other Asian countries (Hicken and Kuhonta 2011) Figure 1: Electoral volatility in Asia6 Malaysia II Singapore Taiwan Japan Sri Lanka ... action in party organization at the critical juncture can produce negative feedback Negative feedback refers to a situation in which a change in an initial factor A leads to a change in 39 factor...

Ngày tải lên: 12/10/2015, 17:33

... Fitzgerald GA Oxidative stress and cardiovascular injury Animal and human studies Circulation 2003; 108: 2034–2040 Madamanchi NR, Vendrov A, Runge MS Oxidative stress and vascular disease Arterioscler ... Levantesi G, Gavazzi L, Valagussa F Antioxidant vitamins and prevention of cardiovascular disease: epidemiological and clinical trial data Lipids 2001; 36: S53–S63 67 Cuzzocrea S, Riley DP, Caputi ... Tesfamariam B, Cohen RA Free radicals mediate endothelial cell dysfunction caused by elevated glucose Am J Physiol 1992; 263: H321–H326 64 Marfella R, Verrazzo G, Acampora R, La Marca C, Giunta...

Ngày tải lên: 26/10/2012, 09:39

... the areas of global and virtual teaming leadership, project management, and knowledge management Randall L Englund, MBA, NPDP, CBM, is an author, speaker, trainer, and consultant He is a partner ... in a new advanced project management training venture called Madeline Learning and an associate to the Human Systems Knowledge Network and the Strategic Management Group He was a project manager ... firm’s ability to manage projects is merely a tactical competency or actually forms a strategic competitive advantage If it is a strategic capability, that means understanding project management...

Ngày tải lên: 07/02/2013, 09:32

... Management Management Director Information Technology Management Management Project Manager Management Staff Staff Staff Staff Staff Staff Staff Staff Staff Staff Staff Staff Staff Staff Staff ... Manager Staff Functional Manager A B Staff Staff A Staff Staff C Staff Functional Manager A B C C Project Manager A Staff B Staff Project Manager B B Staff C Project Manager C B Indicates a staff person ... and the project manager SUMMARY Health care is changing more rapidly than nearly any other industry Children’s Hospital and Regional Medical Center shows that dramatic change can take place and...

Ngày tải lên: 07/02/2013, 09:32

... International Federation of Freight Forwarders-FIATA, American Moving and Storage Association-AMSA and Vietnam Chamber of Commerce and Industry-VCCI… Vinalink Ha Noi Branch Vinalink Ha Noi Branch ... transport and break-bulk cargoes, office removal, factory removal, household and personal effects removal, transport of transit cargoes to Laos, Cambodia and China - Warehouse and bonded warehouse ... my analysis on two among many aspects of logistics management: warehouse management and freight transport management 2.2.1 Warehouse management Warehouse has a prime objective which is to facilitate...

Ngày tải lên: 20/04/2013, 11:13

... structural or reclamation works was proposed to avoid impact to the corals CAFEO 28 Hanoi, Vietnam (18-22nd Dec 2010) Coastal Management - Beach Rehabilitation At Pulau Tioman, Malaysia Figure7 - Layout ... Coastal Management - Beach Rehabilitation At Pulau Tioman, Malaysia - reduce the overall structural dimensions and construction cost - increase the recreational and aesthetic values of the seafront ... of seasonal boat traffic, land availability, siltation deposition rates and anticipated frequencies of dredging Water Quality Study A detailed water quality study was carried out at the main rivers...

Ngày tải lên: 25/04/2013, 08:20