Why I Interned As A Quantitative Analyst At American Century Investment This Summer Essay

Portfolio management is an important factor that determines the performance of the portfolio. To perform well in the portfolio, it is not only essential to develop personal investment strategies, but analyzing current financial trend is also vital. Stock Trak is an online portfolio simulation that allows students to try out different investment strategies, and also get a hand on experience in what the real market trading conditions are. By managing the portfolio, I have acquired some new knowledge of investment strategies and also become more familiar with the current market by following closely to the financial headlines.

Fama and French’s three factor model attempts to explain the variation of stock prices through a multifactor model that includes a size factor and BE/ME factor in addition to the beta risk factor. Fama-French model essentially extended the CAPM (which breaks up cause of variation of stock price into systematic risk which is non-diversifiable and idiosyncratic risk which is diversifiable) by introducing these two additional factors. Fama and French find that stocks with high beta didn’t have consistently higher returns than stocks with low beta and this indicates that beta was not a useful measure under their model. Their model is based on research findings that sensitivity of movements of the size and BE/ME factor constituted risk, and

Although this investment class can be considered the most conservative of the three, the low yield of government bonds in the past 10 years does not lend a comparative metric against many other investment opportunities (Jacobs, 2012). The fixed rate of these instruments allows for a guaranteed return, but should only be utilized at a point in an investing cycle when risk is higher than potential income growth. The 25% allocation that is invested in this class is positioned to provide a long term guaranteed investment, with the possible that these lower rates will not rise significantly in the next few years.

The extracted data used includes monthly returns from January 1972 to July 2011. The assets are selected so that the portfolio contains the largest, most liquid, and most tradable assets. The choice of such a variety of assets across several markets was used in order to generate a large cross sectional dispersion in average return. It helped to reveal new factor exposure and define a general framework of the correlated value and momentum effects in various asset classes.

1. Adams espouses a “market first” analysis of opportunity by looking for discontinuities. Is this substantive or window-dressing? Do the four types of discontinuities represent applicable guidelines? Are they comprehensive, or are there other discontinuity templates that a venture investor would find useful?

For the month of December, I was given an assignment consisting of $100,000 and four stocks to invest in. My four stocks were The Ralph Lauren Corp., Visa Inc., Master card Inc. and The Chevron Corp. As stated I was given a month to record my data and I ended up with a total capital gain of $5,518.36 for the one month period for my investments. I have to thank you Mr. Acker, this project was not difficult, but it did confuse me. Receiving this assignment scared me in a way, because I didn’t know what I was getting into. The finance world is scary and tricky, one minute the market is doing good and other days it would be low. While calculating my capital gains or losses I thought I would lose a larger

One of the most important objectives of the curse is that as students we should be able to make better financial decisions. Have a better understanding and ability to process and implement strategies and make successful decisions.

I consider myself an innovator and a self-starter who benefits from spaces with the culture and work ethic that buzzfeed is known for. The type of impact and the type of work that buzzfeed produces provides me the ideal opportunity to use my skills and experiences in program development.

This may sound shocking; I would take the advice of Bernard Madoff as given in the interview with Marketwatch. I genuinely believe the advice he gives in this interview is sincere. After seeing the aftermath of what his actions have caused, I believe he wants others to be aware of what can go wrong. The advice he offers is logical and not complicated. Prior to looking into investments, I would first educate myself on common investment practices and terminology. I wouldn’t dare invest in something that I am unable to understand. I will investigate which advising firms are currently at the top and at the bottom of the industry, in addition to which firms have recently been in court and in the news. I would ask as many questions as possible to

I am writing to express my interest in securing a position as an Intern for the House Judiciary Committee this summer. I am currently a sophomore at Emory University in Atlanta, Georgia, studying both Political Science and Philosophy on the Pre-Law track. My interests, experience and enthusiasm drew me to this opportunity and I would like to share a little about myself.

To justify whether it works, we first ran a regression on the Three-Factor Fama French Model (Market Excess Return, SMB and HML) from Jan 1972 to Dec 2012 respectively for the High-, 5-, Low-, and High-Minus-Low Portfolio. Then, we added momentum into the model to create a four-factor model (Momentum, Market Excess Return, SMB and HML) for the same period on a monthly basis. (See Exhibit 2).

As a PhD candidate in Finance, I want to continue my research on earnings revision and earnings surprises as well as investigate other factors of return predictability related to size, profitability, and momentum. In addition, my other research interests are in (1) investments, (2) hedge funds and mutual funds, and (3) applications of machine learning in finance.

According to the CAPM model:R_i=α+βR_m+ε, α represent the abnormal return gained by the portfolio. If the market is efficiency, the α has to be zero.

As a result, many different factors have been tested across different markets. Historically, most studies have relied on general economic theories or empirical observations in selecting Factors. Benaković and Posedel (2010) emphasize Interest rates, oil prices, and industrial production. Chen, Roll and Ross (1986) use industrial production growth, inflation, bonds spread, NYSE stock market returns, oil prices, interest term structure, and consumption to decompose returns of a portfolio with general securities. Bodurtha, Cho and Senbet (1989) even uses international factors. Most of literatures have focused on applying different factors with a portfolio of many securities, as it is widely known that idiosyncratic risks diversifies away as the number of

In this report, I will reflect upon the challenges and learning experiences I faced during my internship at BINUS Career in Jakarta, Indonesia. I spent three weeks working in the social media department, with the aim of improving their social media presence and advertising success. This project was a team based one and I worked closely with my partner on all stages of the project. As I did not have a background in human resources or marketing, the first challenge was applying my knowledge and research skills from my major in sociology to a new discipline. In this report, I will reflect upon my experiences in working on a team project, difficulties with cross-cultural communication and improving my problem-solving skills and initiative. Throughout the report, I will utilise the 5Rs of Reflection cited in Anon to analyse my experience (Anon, n.d.). This will consist of ‘reporting’ by describing my experience, ‘responding’, by describing my emotional response to the situation, ‘relating’ to the literature, ‘reasoning’ by explaining how the literature influences my thinking and ‘reconstructing’ by explaining what this learning experience means to me.