Arbitrage in LIQUIFIED Natural Gas December 2012 Take a look at the long-term charts of crude oil and natural gas. The historical oil-to-gas price ratios have ranged from 6:1 to 10:1 before the economic crisis. Since one barrel of oil contains the energy equivalent of the 5.825 million BTU of natural gas‚ an implied BTU arbitrage kept this relationship in check. Spot natural gas traded as low 1.905 earlier in the week implying an energy equivalent price of a barrel
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CHAPTER 8 APT 1.In a factor model‚ the return on a stock in a particular period will be related to _________. A. firm-specific events B. macroeconomic events C. the error term D. both a and b E. neither a nor b 2.Assume that stock market returns do follow a single-index structure. An investment fund analyzes 500 stocks in order to construct a mean-variance efficient portfolio constrained by 500 investments. They will need to calculate ________ estimates of firm-specific variances and ________
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MGT 409 Case 1: Arbitrage in the Government Market 1. In 1991‚ major discrepancies in the prices of multiple long maturity US Treasury bonds seemed to appear in the market. An employee of the firm Mercer and Associates‚ Samantha Thompson‚ thought of a way to exploit this opportunity in order to take advantage of a positive pricing difference by substituting superior bonds for existing holdings. Thompson created two synthetic bonds that imitated the cash flows of the 8¼ May 00-05 bond; one for
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Pairs Trading: Performance of a Relative Value Arbitrage Rule Evan Gatev‚ Boston College William N. Goetzmann‚ Yale School of Management‚ International Center for Finance K. Geert Rouwenhorst‚ Yale School of Management‚ International Center for Finance This paper can be downloaded without charge from the Social Science Research Network Electronic Paper Collection: http://ssrn.com/abstract=141615 Pairs Trading: Performance of a Relative Value Arbitrage Rule Evan Gatev Assistant Professor Boston
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Planned figures Sales Revenue* Return on equity Cash-Flow Market 1 100 mEUR % 15 10 mEUR Market 2 50 mEUR * Sales Revenue without Bulk Buyer and Request for Bids TOPSIM® – General Management | Version 13.0 | Decision Form 8 Periods – Standard Scenario www.topsim.com
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consultants analysing the service encounter in video 2‚ making use of one or more of the blueprinting modelling techniques. The models used in this report are servquals and service blueprinting. In a challenging and highly competitive market in which service industries proliferate‚ service quality is of paramount importance and essentially encompasses the differences between service expectations and performance (Cronin & Taylor‚ 1992). Today businesses provide a high standard of service that
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Misunderstandings happen often in both personal lives as well as in the workplace. It can be difficult to communicate and get through the misunderstandings but it can be done with patience and a calm approach. The first misunderstanding I experienced was when I work for an aircraft repair station. There were two employees that were working together. Employee “A” was a fifty year old Korean man with a thick accent and a pushy personality who happened to be our Master Mechanic. Employee “B” was a
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An Empirical Investigation of Arbitrage Pricing Theory: A case Zimbabwe Petros Jecheche University of Zimbabwe ABSTRACT This study investigates the Arbitrage Pricing Theory for the case of Zimbabwe using time series data from 1980 to 2005 within a vector autoregressive (VAR) framework. The Granger causality tests are conducted to establish the existence of causality among the variables like inflation‚ exchange rate and Gross Domestic Product. The VAR estimates as shown by the impulse response
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of Entrepreneurs Which of these four scenarios on page 164 are most important today? Your answer may include more than one scenario. Which scenario is most conducive toward economic growth? Which scenario is the most normal historically? (a) higher interest rates‚ more capital invested (b) lower interest rates‚ less capital invested (c) lower interest rates‚ more capital invested (d) higher interest rates‚ less capital invested. As I begin to research the above four scenarios I will begin to determine
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events that darkened almost everyone’s view of the world. These events had a great impact on the pieces of modern literature being published since the authors would write with more pessimistic views. William Golding‚ at the time‚ developed a theory which stated that people are inherently evil and that society keeps us good. While both the novel Lord of the Flies‚ by William Golding‚ and the short story The Most Dangerous Game‚ by Richard Connell‚ demonstrate the savagery and inherent evil of mankind
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