What is an asset bubble ?
Garber, P.M. (2000): A bubble is present when the price of an asset differs significantly from its fundamentals.
Kane, Edward and Kindleberger, Charles (2004): bubbles appear in the last stage of an economic boom, when expectations are irrationally optimistic.
Kindleberger and Aliber, (2005):“an upward price movement over an extended period of 15 to 40 months that t
I. 자본자산 ․ 가격결정 모형의 의의
마르코뷔츠(H. M. Markowiz)의 포트폴리오 선택이론은 투자자가 효용을 극대화하기 위한 위험자산들의 결합방법을 중심으로 효율적 포트폴리오를 선택하는 것을 설명하는 규범적 접근방법이다. 마르코뷔츠의 포트폴리오 이론을 기초로 하여 샤페(WF. Sharpe, 1964),
<4>BNP Paribas 글로벌 네트워크
:Management 사는 전세계 20여개국의 글로벌 네트워크 및 1,450여명의 전문인력을 보유하고 있는 세계적인 자산 운용사임
▶유럽:파리/런던/마드리드/암스테르담/프랑크푸르트/제네바/리스본/룩셈부르크/밀라노/프라하/비엔나
▶아시아:홍콩/상하이/서울/첸나이(인도)/도쿄
자산의 분배(Asset Allocation ) : Investment involves a choice problem.
정의: 자산배분이란 투자자의 투자목적, 투자성향 등에 맞추어 여러 가지
자산유형(자산 군/종목군)간에 투자자금을 배분하는 의사결정
Asset Allocation: is the division of an investor's wealth between different asset classes.
최적포트폴리오 구성
입사 후의 포부
Aegis Asset Management에 합류한 후, 저의 목표는 회사의 금융 전문성과 성장을 높이는 것입니다. 금융 시장의 동향을 지속적으로 파악하고, 투자 전략을 개발하며, 고객의 금융 목표를 달성할 수 있는 지원을 제공하고자 합니다.
Aegis Asset Management 합류를 위한 노력
Aegis Asset Management은 금
Profitability
Return on Asset (ROA) is (Net Income + Interest Expense(net of tex) ÷ Average Total Assets. This
ratio tells how much net income is earned by a unit of assets. Higher ratio means net income
earned by one unit of assets is large. Next, Return on Equity (ROE) is Net Income ÷ Average Total
Stockholders’ Equity. This ratio tells how much net income is earned by a unit
ROA and ROE of HSBC
For the next asset analysis we are considering data from the period 2004-2009. First let´s take a look to the principal ratios of the company. ROA ratio for HSBC has decreased since 2007 and this tendency has continued indicating that the bank efficiency to produce profits has diminished. This is mainly due to the rise in operating expenses by 12% that reflected increased
Financial Leverage Ratio
It measures the relationship between total assets and the stockholders’ equity that finances the assets.
Both company shows pretty high financial leverage
High financial leverage means they are highly
dependent on debt when financing assets.
Total Asset Turnover Ratio
Total Asset Turnover measures the sale generated
per
2. Solomon Bank as The Best Savings Bank
Solomon domestic savings bank was No.1 in the industry in asset size as of December 2005. At the end of 2007, with Pusan and Honan, Gyeonggi savings banks, total assets of Solomon savings bank reached nearly 5 trillion won level, grown into a huge savings banks. Solomon savings bank is the industry leader as Assets / receives / loan in all areas. Based on
assets divided by current liabilities. Digital Cube's figure is higher than Cowan's in 2006. But, Digital cube's current ratio decreases -33.6% [=variation:(2007ratio-2006ratio)/2006ratio)] in 2007. And Cowan's current ratio increases 35.63% in 2007 although in first time it is lower than Digital cube's. The point tell us that the Cowan's liquidity is better than the Digital Cube's. Therefore it