of the most destabilising elements of the crisis has been the procyclical amplification of financial shocks throughout the banking system, financial markets and the broader economy. The tendency of market participants to behave in a procyclical manner has been amplified through a variety of channels, including through accounting standards for both mark-to-market assets and held-to-maturity loans,
of affiliates
41,605
50.0
266,811
320.9
83,144
100
Gain on disposal of investment assets
18,661
69.2
3,005
11.1
26,975
100
Gain on disposal of P, E, and IA
4,217
94.7
7,306
164.1
4,453
100
Gains on transactions and valuation of CW
264,417
1587.1
10,799
64.8
16,660
100
Gain on conversion of convertible bonds
-
-
373,140
-
-
-
Gain on repay
2) Facilities
- Marriott international
Marriott International is a leader and strong competitor in a variety of industries, including hotels and motels, food service, facilities management, retirement communities, and vacation interval ownership or time-shares. The Marriott family, the company's founders, owned a 21-percent interest in the company in the mid-1990s.
Marriott's primary enterpris
1. What is the "Hedge Fund"
1.1 What is Hedge Fund?
1.1.1 Definition of the "Hedge Fund"
1) What is a hedge fund?
"Hedge fund" is a general, non-legal term that was originally used to describe a type of private and unregistered investment pool that employed sophisticated hedging and arbitrage techniques to trade in the corporate equity markets. Hedge funds have traditionally been limited t
Examples – 소송, 상품적 결함, 다양한 기술적 혁신과 같은 특정기업에만 존재하는 고유의 위험
요구수익률에 거의 영향을 미치지 못한다.
- 분산투자를 통해 제거 가능하기 때문
예를들어,
위험투자의 주식시장의 가치가 국채를 10% 능가하고 주식의 Beta 계수가 1.25라고 할때