Categories
Technical Analysis
  • Reading VIX®: Does VIX Predict Future Volatility?

    Source: Tim Edwards, PhD, Hamish Preston
    Date Submitted: 29 Dec 2017
    Views: 448
    Downloads: 21
    The purpose of this paper is to provide—without requiring a prior knowledge of the sophisticated mathematics involved in option pricing—a practitioner’s guide to interpreting what is, and what is not, indicated by VIX.
  • 【中国市场策略】2018年展望:无限风光

    Source: Hong Hao, CFA
    Date Submitted: 05 Dec 2017
    Views: 97
    Downloads: 6
    This research appears on WenXin's blog "Hong Hao China Strategy" on 4 Dec 2017.
     
  • 【China Market Strategy】Outlook 2018: View from the Peak

    Source: Hong Hao, CFA
    Date Submitted: 05 Dec 2017
    Views: 381
    Downloads: 10
    This research appears on WenXin's blog "Hong Hao China Strategy" on 4 Dec 2017.
     
  • Different Faces of Understanding S&P BSE Sensex using valuation measures

    Source: Apoorva Ramani
    Date Submitted: 13 Nov 2017
    Views: 77
    Downloads: 10
    In India, investors often use to the BSE Sensex index to keep a track of market valuations. Most investors interpret the movement of Sensex in different ways using valuation measures. Price to earnings (P/E) and Price to book value (P/B) ratios are predominantly used to analyse the Sensex movement. When these ratios are used they in fact convey different stories about S&P BSE Sensex. These ratios help the investor to understand whether the market is undervalued or overvalued. The price to earnings ratio is calculated by taking the ratio of Market price of the stock to its Earnings per share (EPS). A high price to earnings ratio indicate that the investors are expecting high earnings growth in the future when compared to low P/E. The price to book value ratio is used to compare a stocks market value to book value. A low P/B ratio could indicate that the market/stock is undervalued. The growth of the equity market in India has been phenomenal in the present decade. Right from early nineties, the stock market witnessed heightened activity in terms of various bull and bear runs. One can identify and understand all the booms and busts of the equity market from the Sensex market. It has indeed emerged itself as one of the most prominent brands in the country.         
     
  • The Anatomy of the Gold Crash of April 12-15, 2013 from a Liquidity Perspective – An Application of Donier and Bouchaud’s Measure of Illiquidity

    Source: Daniel Ceferino D. Camagay
    Date Submitted: 26 Sep 2017
    Views: 92
    Downloads: 5
    Gold crash of April 12-15, 2013 as seen from a liquidity perspective using Donier and Bouchard's measure of illiquidity
  • AAM-CAMRI-CFA Institute Prize - The Dual Index Model That Astutely Augurs Stock Prices Using Sectoral Indices – An Empirical Evaluation of Securities That Are Not Constituents of India's Premier Stock Exchange Index Namely BSE-Sensex      

    Source: Suresh Kumar S, Joseph James V., Shehnaz S R
    Date Submitted: 29 Aug 2017
    Views: 0
    Downloads: 0
    Paper Submission for AAM-CAMRI-CFA Institute Prize in Asset Management
     
  • AAM-CAMRI-CFA Institute Prize- Misvaluation of Investment Options      

    Source: Evgeny Lyandres, Egor Matveyev, Alexei Zhdanov
    Date Submitted: 29 Aug 2017
    Views: 0
    Downloads: 0
    Paper Submission for AAM-CAMRI-CFA Institute Prize in Asset Management
     
  • Asian Link

    Source: Dr Raymond Madden, FRSA, Neil Smith
    Date Submitted: 20 Aug 2017
    Views: 255
    Downloads: 0
    "Ethical issues in the financial services industry affect everyone, as almost all of society are consumers of its products and services.  Given the vital role that financial institutions play, moral hazards may be more acute and it is therefore unsurprising that the industry should be subject to the highest ethical standards.  Ethical dimensions create an environment based on trust and make economic transactions more predictable for producers and consumers".
  • Heterogeneity Effects on the Management of Retirement Fund

    Source: Thepdanai Danswasvong, Sira Suchintabandid
    Date Submitted: 07 Aug 2017
    Views: 105
    Downloads: 6
    ​This paper studies the importance of plan members’ heterogeneity to the management of defined benefit (DB) pension fund. We propose a new multi-member model of DB pension fund that allows for heterogeneity in plan members’ retirement ages, salary growths, and other characteristics.
  • RMBI Newsletter Issue 13 (Financial Crime Risk: Anti-Money Laundering and The Rise of Text Mining in Financial Markets)

    Source: Tsang Chiu Yu, Derek, Wong Ching Ip, Venice, Chiu Hok He, Angus, Li Chin Wa, Chin
    Date Submitted: 26 Jul 2017
    Views: 175
    Downloads: 0
    In the latest issue (Issue 13 – August 2017), it covers the stories of:
     
    Financial Crime Risk : Anti-Money Laundering Practices in Banking
    To understand anti-money laundering, we have to understand what money laundering is. Money Laundering is the process of converting illegal funds into seemingly legitimate assets with the purpose of concealing the ownership or original source of these funds. This makes it difficult for the authorities to trace the origins of the funds. To counter this, the banking sector has established a set of internal regulations and system known as anti-money laundering. These are legal controls taken by financial institutions to investigate suspicious transactions to help prevent money laundering activities within the banking sector.
     
    The Rise of Text Mining in Financial Markets
    The world is awash in data. Financial markets are awash in data. We are generating around 2.5 quintillion (2.5×1018) bytes of information every day, and there is an average of 4,000 brokerage reports a day comprising around 36,000 pages in 53 languages. As market participants try to maximize their competitive edge from the growing mountain of information, the nancial world increasingly feels there is a need to harness the power of big data and it has been shaping the way they acquire, analyze and utilize data. The recent development is the rapid expansion of text mining. Hence, this article will focus on the development of Text Mining technology as well as Text Mining technique.
  • 下半年展望:要命的不漂亮,漂亮的不要命

    Source: Hao Hong, CFA
    Date Submitted: 22 Jun 2017
    Views: 560
    Downloads: 18
    This research appears on WenXin's blog "洪灝的中国市场策略" on 8 June 2017.
  • 2H17 Outlook: An Idiot's Guide to China's Nifty-Fifty Run

    Source: Hao Hong, CFA
    Date Submitted: 22 Jun 2017
    Views: 160
    Downloads: 7
    This research appears on WenXin's blog "Hong Hao China Strategy" on 9 June 2017.
  • Mind the Gap - Asia 2017

    Source: Arthur Wu, Wing Chan
    Date Submitted: 18 Jun 2017
    Views: 271
    Downloads: 21
    This paper seeks to explore whether investors within the open fund markets in Asia, namely Hong Kong, Singapore, and Taiwan, suffer from returns gaps. We decided to focus on these markets not only because of their representations within the region, but because of the way mutual funds are often sold by commission-based distributors, which at times encourages frequent switching. Moreover, investors pay no capital gains tax. The end result is that mutual fund investors in Hong Kong, Singapore and Taiwan tend to have shorter investment horizons. However, practice doesn’t make perfect with our study confirming that Asian investors face similar challenges in timing their investments, and that the gaps in returns were largest in more volatile, concentrated equity strategies.
  • 洪灝:新监管下的风险重新定价

    Source: Hao Hong, CFA
    Date Submitted: 01 Jun 2017
    Views: 213
    Downloads: 4
    This research appears on WenXin's blog "洪灝的中国市场策略" on 24 May 2017.
  • Re-pricing Risks under New Regulations

    Source: Hao Hong, CFA
    Date Submitted: 01 Jun 2017
    Views: 169
    Downloads: 9
    This research appears on WenXin's blog "Hong Hao China Strategy" on 24 May 2017.
     
  • Will Investors in China A-Share ETFs Benefit From the Migration Towards Physical Replication?

    Source: Jackie Choy, Ben Johnson
    Date Submitted: 23 Apr 2017
    Views: 1309
    Downloads: 13
    Many ETFs offering exposure to onshore Chinese equities have begun to shift from synthetic replication to physical replication. Will this shift yield better results for investors? Is physical or synthetic replication a better approach to investing in the China A-share market? 
  • The Reflation Trade Is Over; Get Set for Defensive Rotation

    Source: Hao Hong, CFA
    Date Submitted: 10 Apr 2017
    Views: 1465
    Downloads: 6
    This research appears on WenXin's blog "Hong Hao China Strategy" on 6 March 2017.
  • Indicators DZ and RDZ: Essence, Methods of Calculation, Signals and Rules of Trading

    Source: Serhiy Kozmenko,
    Date Submitted: 07 Apr 2017
    Views: 121
    Downloads: 3
    Speculators exert more and more influence on prices on world exchange markets. Often the result of this is a formation of so-called “bubbles” with subsequent shocks to national and global economy. The purpose of speculators is earnings in a relatively short period of time using the differences in prices for exchange assets. Most of the speculators as a reference point for decision-making use technical analysis methods (prediction of future prices based on previous prices). Using more sophisticated methods gives advantage and opportunity to earn on a relatively short-term fluctuations in the exchange markets. General rules of technical analysis applied to all types of exchange markets – foreign exchange and stock markets, commodity markets and markets for derivative financial instruments. Thus, developing of a new technical indicator or trading strategy for FOREX (foreign exchange market) can be applied to analyze prices of gold or oil, stock indices and stock prices.
  • Detecting 'Fake' Price Movements: A Convergence/Divergence Indicator

    Source: Guglielmo Maria Caporale, Luis A. Gil-Alana
    Date Submitted: 07 Apr 2017
    Views: 2402
    Downloads: 21
    This paper develops a new pair trading method to detect “fake” price movements and arbitrage opportunities that is based on a convergence/divergence indicator (CDI) belonging to the oscillatory class. The proposed technique is applied to a cross-currency pair (EURAUD, 2010-2015), and trading rules based on CDI signals are obtained. The CDI indicator is shown to outperform others of the oscillatory class and to generate profits (in the case of EURAUD) without the need for incorporating additional algorithms in the trading strategy. The suggested approach is of general interest and can be applied to different financial markets and assets.
  • U.S. Stock Selection Model Performance Review - The most effective investment strategies in 2015

    Source: Vivian Ning, CFA, Li Ma, CFA
    Date Submitted: 28 Mar 2017
    Views: 209
    Downloads: 11
    This is a Quantamental Research published by S&P Global Market Intelligence in February 2016.
  • U.S. Stock Selection Model Performance Review

    Source: Vivian Ning, CFA, Paul Fruin, CFA
    Date Submitted: 28 Mar 2017
    Views: 159
    Downloads: 5
    This is a Quantamental Research published by S&P Global Market Intelligence in February 2015.
  • A Review on High Frequency Intraday Trading in Hong Kong Stock Market

    Source: Marcus Liu
    Date Submitted: 27 Feb 2017
    Views: 592
    Downloads: 12
    This paper tests the effectiveness of trading range break (TRB) trading rules in the Hang Seng index futures market. Such trading rules are linked up with a test using market high-time and market low-time. It is discovered that the market inefficiency observed by Mok, Li and Lam (2000) has no longer persisted in HSIF market. This particular example is interesting because the market inefficiency does not come together with any trading rule.
  • Data mining from web search queries to build a trading strategy on SSE Composite Index

    Source: Pierre Angot
    Date Submitted: 09 Feb 2017
    Views: 291
    Downloads: 9
    Markets are mostly driven by humans who react under the influence of their emotions. These “animal spirits” create inefficiencies and anomalies in financial markets and the study of investors’ behavior can product valuable information for future market moves. On the other hand the big amount of data humans produce every day can give an insight on their feelings, their will or their worries. Baidu.com, which is the Chinese equivalent of Google.com, makes public the search queries data it recorded since January 2011. This paper makes use of this search queries information to build an investor sentiment index whose aim is to approximate the sentiment of market participants. It then derives from this index a profitable trading strategy on the Shanghai Stock Exchange (SSE) Composite Index. By defining and optimizing several investor sentiment index building strategies, the study produces two trading strategies that outperform the standard buy and hold strategy over the specified period (2011-01-03 up to 2015-12-09).
  • Efficiency of Technical Trading Rules in China A-Share Market

    Source: Huang Jiali
    Date Submitted: 09 Feb 2017
    Views: 250
    Downloads: 8
    Technical analysis is to forecast the future movement of stock price based on the study of history information. Common technical indicators include moving average, Bollinger Band, Relative Strength Index and so on. Though the efficiency of technical analysis is under suspicion, many investors use technical analysis to help to make investment decision. This thesis attempts to test the efficiency of technical trading rules in China a-share market. A new technical indicator —— net price volatility (NPV) is brought up, which is calculated using the open price, highest price and lowest price of the stock intraday. A trading strategy is built based on this new indicator. This thesis first investigates the performance of the strategy on CSI300 index and compares it with the buy and hold strategy. We also conduct trading strategies based on other common technical indicators and evaluate their performance. Second, we did a thorough robustness analysis. We investigate the performance of our strategy in different years, different volatility market, different liquidity market, different parameter and trading cost settings. We also test the strategy on different market indexes, industry indexes and individual stocks. The strategy shows a consistent performance over different underlying assets, which further certifies its efficiency. Third, we make modifications to the strategy, test the performance on two real life financial asset and construct a financial product based on the strategy.
  • Year of the Rooster: A Trend Breaker?

    Source: Hao Hong, CFA
    Date Submitted: 31 Jan 2017
    Views: 109
    Downloads: 3
    This research appears on WenXin's blog "Hong Hao China Strategy" on 25 Jan 2017.
  • 【中国市场策略】鸡年大吉:顺流,逆流?

    Source: Hao Hong, CFA
    Date Submitted: 31 Jan 2017
    Views: 186
    Downloads: 4
    This research appears on WenXin's blog "洪灝的中国市场策略" on 25 Jan 2017.
  • NZFC-To Carry, Or Not To Carry, That Is The Question

    Source: Jedrzej Bialkowski, Glenn Boyle, Mark Carrodus
    Date Submitted: 11 Jan 2017
    Views: 288
    Downloads: 5
    In the paper, we use unique and proprietary information on industry stop-loss rules to evaluate the feasibility of currency carry trades considered by academic researchers. We find that these rules cause reported carry trade profitability to largely disappear, with most trades having to be closed out early. The much-vaunted profitability of the carry trade appears to depend on staying the course, contrary to standard risk management policies. This calls into question much of the literature that seeks to explain reported carry trade returns.
  • 【China Market Strategy】Outlook 2017: High-Wire Act

    Source: Hao Hong, CFA
    Date Submitted: 07 Dec 2016
    Views: 2264
    Downloads: 12
    This research appears on WenXin's blog "Hong Hao China Strategy" on 4 December 2016.
  • 【中国市场策略】2017年展望:微妙的平衡

    Source: Hao Hong, CFA
    Date Submitted: 07 Dec 2016
    Views: 507
    Downloads: 12
    This research appears on WenXin's blog "洪灝的中国市场策略" on 4 December 2016.
  • AFBC - Slack-based directional distance function in the presence of bad outputs: Theory and Application to Vietnamese Banking

    Source: Manh D. Pham, Valentin Zelenyuk
    Date Submitted: 15 Nov 2016
    Views: 246
    Downloads: 5
    Slack-based directional distance function in the presence of bad outputs: Theory and Application to Vietnamese Banking
  • 号外 - 价格的革命 | 对全球资产配置的思考(中文版)

    Source: Hao Hong, CFA
    Date Submitted: 14 Nov 2016
    Views: 266
    Downloads: 4
    This research report is published on 14 November 2016 by BOCOM.
  • A Price Revolution – On Global Asset Allocation

    Source: Hao Hong, CFA
    Date Submitted: 14 Nov 2016
    Views: 427
    Downloads: 20
    This research report is published on 14 November 2016 by BOCOM.
  • HKUST Risk Management and Business Intellegence (RMBI) Newsletter Issue 7

    Source: Chow Miu Lam, Hui Sin Hang, Tsang Wing Wah, Lee Kwok Ho, Tam Kiu Fai
    Date Submitted: 07 Nov 2016
    Views: 389
    Downloads: 0
    Risk Management in the Medical Sector. Risk Management can bring a better decision making and reduce the number of errors, so as to ensure a high quality and effective service being provided. In the past 20 years, the hongkong Hospital Authority (HA) showed great support to develop large scale computer-based systems to manage and reduce the risk within the healthcare sector. To have a deeper understadning on how the systems work, we have invited Dr. CP Wong, Chairman of Society of Medical Informatics Ltd to share with us the success and benefits in risk managment in Hong Kong public hospitals. Safety and Risk Managemnt in the Railway Industry. As an industry with over 15,000 employees, the railway industry is inevitably at risk for human mistakes, leading to a need for risk management measures to reduce operational errors in order to achieve its customer pledge. Let's examine this under serveral issues: benmarking, drivers' training and selection, and risk management and risk identification.
  • HKUST Risk Management and Business Intellegence (RMBI) Newsletter Issue 8

    Source: Wong Yuen Man, Wong Cheuk Fun
    Date Submitted: 07 Nov 2016
    Views: 440
    Downloads: 0
    Humans always learn from history and our students should also learn from the past. This is the first time a case study is used as the main topic in the RMBI Newsletter series.London Whale Risk in 2012 is chosen as the topic of this chapter. This issue mainly focuses on the risks involved, including operational risks, analysis of VAR modeling aswell asthe influence of the Basel regulatory stan­ dard.
  • HKUST Risk Management and Business Intellegence (RMBI) Newsletter Issue 9

    Source: Wong Yuen Man, Kwong Wing Man, Chan Ling Fung, Lo Ka Chun, Ng Wing Leong, Tam Kiu Fai, Lee Tung Kiu, Lee Kwok Ho
    Date Submitted: 02 Nov 2016
    Views: 410
    Downloads: 0
    In this issue, we discuss about the current situation of Hong Kong's Logistics Industry, including ogictics business cycle and its embbeded risk, big data and new technologies, as well as the future development and suggestions to the logistics industry. Basel III, the histroy and its evolution, impact on locan banks and lessons leanred from overseas.
  • HKUST Risk Management and Business Intellegence (RMBI) Newsletter Issue 10

    Source: LEUNG Chung Wai , HAN Tianwei , CHEUNG Ngan Yeung , NG Wing Leong , SIU Hon San
    Date Submitted: 27 Oct 2016
    Views: 316
    Downloads: 0
    Shanghai-Hong Kong Stock Connect Review: How to Apply Big Data Analytics to Risk Management? Shanghai-Hong Kong Stock Connect is a pilot program launched on 17 November 2014 which links the stock markets in Shanghai and Hong Kong. Under the program, investors in Hong Kong and Mainland China can trade and settle shares listed on the other market via the exchange and clearing house in their home market. Under this arrangement, Hong Kong and foreign investors can trade stocks listed on the Shanghai Stock Exchange (SSE) through Northbound trading while Mainland investors can trade stocks listed on the Hong Kong Stock Exchange (SEHK) through Southbound trading. How to Solve the Problem of China’s “Ghost Towns”? In recent years, China's economy has taken off and there is a boom in the financial industry, so the government has shifted the core of reform to urbanization. Investors have invested money in the property market. The real estate industry, which many have been optimistic about, should have bloomed under the current reforms in China, but the result is the widely-known term "Ghost Town".
  • Southeast Asia: Data on Private Equity Investment for 1H/2016

    Source: CAPER
    Date Submitted: 03 Oct 2016
    Views: 358
    Downloads: 9
    Transaction total • US$2.9 bn • a 61% increase Average deal size • US$46.9 m • a 56.4% increase Singapore is the most favoured market in Southeast Asia recording US$1.3 bn The Philippines & Vietnam capture the frontier market limelight, recording US$326.9 m and US$179.7 m, respectively
  • AFBC - Dynamic conditional correlation between Chinese sector returns and the S&P500 index: An interpretation based on investment shocks

    Source: Lingxia Sun, Myeong Hyeon Kim
    Date Submitted: 30 Sep 2016
    Views: 259
    Downloads: 3
    This paper examines the dynamic conditional correlations between the Chinese sector returns and the S&P500 index returns and o ffers an interpretation for the heterogeneity of sector-level return correlations. Using a sample of 12 Chinese sectors for the period of 2006-2014, we first observe that their conditional correlations with the S&P500 index vary signi cantly across sectors and across the two crises, namely, the 2008-2009 Global Financial Crisis and the 2010-2011 European Debt Crisis. We then interpret the heterogeneity of sector-level conditional correlations as arising from their heterogeneous sensitivities to investment shocks. We finally verify our interpretation. Our main finding is that sector-level investment opportunities, as proxied by book-to-market ratio, capital expenditure, long-term debt ratio, growth rate of industry size, and Tobin's Q, are signifi cantly associated with the magnitude of their dynamic conditional correlations. This paper thereby advances our understanding of sectoral heterogeneities from the perspective of their responses to an outer investment shock.
  • AFBC-Asset diversification and efficiency: Evidence from the Chinese banking sector

    Source: Kai Du, Andrew C. Worthington, Valentin Zelenyuk
    Date Submitted: 20 Sep 2016
    Views: 400
    Downloads: 11
    This paper investigates the impact of earning asset diversification on Chinese bank efficiency from 2006 to 2011. To do so, we adapt the Simar and Wilson (2007) (Journal of Econometrics) approach to panel data context so that approach allows for technology change over time. Regression results reveal that increasing the asset share of other earning assets (including securities and derivatives) is positively associated with bank efficiency. Decreasing the share of nonearning assets in total assets or increasing total equity has a similar impact. Our results also suggest that financial reforms currently being undertaken in China, including removing the regulatory requirement concerning the ratio of loans to deposits (a new draft amendment to the existing commercial banking law) and interest rate liberalization (a proposed draft amendment), are likely to induce a significant positive effect on bank efficiency in China.
  • China Market Strategy: Consolidation

    Source: Hao Hong, CFA
    Date Submitted: 21 Aug 2016
    Views: 303
    Downloads: 8
    This article appear on WenXin's blog "Hong Hao China Strategy" on 22 August 2016. Chinese Version: https://www.arx.cfa/post/x-1709.html
  • 中国市场策略: 市场盘整

    Source: Hao Hong, CFA
    Date Submitted: 21 Aug 2016
    Views: 309
    Downloads: 18
    This article appear on WenXin's blog "洪灝的中国市场策略" on 22 August 2016.
  • FTSE Russell China Bond Research Report - June

    Source: FTSE Russell
    Date Submitted: 18 Aug 2016
    Views: 500
    Downloads: 0
    FTSE Russell's China Fixed Income Research Paper on the market overview, development of the onshore bond market, regulatory updates, onshore/offshore convergence and other related topics.
  • Pakistan Market - 2015 Performance

    Source: Saad Hashemy
    Date Submitted: 12 Aug 2016
    Views: 366
    Downloads: 8
    Overview of the Pakistan capital market performance in 2015, and the underlying reasons for the performance.
  • The Ex-Dividend Day Stock Price Behavior: Evidence from Pakistan

    Source: Sana Tauseef, Mohammad Nishat
    Date Submitted: 10 Aug 2016
    Views: 352
    Downloads: 13
    Original research by author
  • Unexpected Quarterly Earnings Announcements, Firm Size and Stock Price Reaction

    Source: Sana Tauseef
    Date Submitted: 10 Aug 2016
    Views: 341
    Downloads: 5
    Original research by author
  • Wealth Effect of Mergers & Acquisitions in an Emerging Market: A Case Study of Pakistan’s Banking Sector

    Source: Sana Tauseef, Dr. Mohammad Nishat
    Date Submitted: 10 Aug 2016
    Views: 361
    Downloads: 8
    Original research by author
  • Effect of Debt Financing on Corporate Financial Performance: Evidence from Textile Firms in Pakistan

    Source: Sana Tauseef, Dr. Heman Das Lohano, Sara Ashfaq
    Date Submitted: 10 Aug 2016
    Views: 392
    Downloads: 12
    Original research by author based on statistical analysis
  • 被动式对冲基金复制策略的业绩表现

    Source: Noel Amenc, Lionel Martellini, Jean-Christophe Meyfredi, Volker Ziemann
    Date Submitted: 13 Jul 2016
    Views: 269
    Downloads: 1
    This article appears on CFA Institute Hedge Fund Journal 2016 issue, season 1.
  • Is the Stock Market’s Smoothest Ride Priced Like a Cadillac?

    Source: David Allison, CFA, CIPM
    Date Submitted: 04 Jul 2016
    Views: 258
    Downloads: 0
    This is a blog posted on CFA Institute's website on 6 February 2014.
  • 脱欧后,如何交易中国(中文版)

    Source: Hao Hong, CFA
    Date Submitted: 30 Jun 2016
    Views: 481
    Downloads: 12
    This article appear on WenXin's blog "洪灝的中国市场策略" on 28 June 2016.
  • Post Brexit: How to Trade China

    Source: Hao Hong, CFA
    Date Submitted: 30 Jun 2016
    Views: 746
    Downloads: 35
    This article appear on WenXin's blog "Hong Hao China Strategy" on 27 June 2016.
  • Nobel Laureate Myron Scholes on the Common Mistakes Research Analysts Make

    Source: Larry Cao, CFA
    Date Submitted: 28 Jun 2016
    Views: 372
    Downloads: 3
    This is a blog posted on CFA Institute's website on 20 October 2014.
  • 算法交易中的日间周期性

    Source: John Paul Broussard, CFA, Andrei Nikiforov
    Date Submitted: 16 Jun 2016
    Views: 277
    Downloads: 1
    This article appears on CFA Institute hedge fund journal 2015 issue, season 1.
  • 商品价格协同运动的因子模型

    Source: Kenneth D. West., Ka-Fu Wong
    Date Submitted: 16 Jun 2016
    Views: 290
    Downloads: 2
    This article appears on CFA Institute hedge fund journal 2015 issue, season 1.
  • 下一个投资理论典范?

    Source: Nathan Jaye, CFA
    Date Submitted: 16 Jun 2016
    Views: 275
    Downloads: 2
    This article appears on CFA Institute hedge fund journal 2015 issue, season 1.
  • 理性预期和模糊性

    Source: Thomas J. Sargent
    Date Submitted: 16 Jun 2016
    Views: 274
    Downloads: 0
    This article appears on CFA Institute hedge fund journal 2014 issue, season 2.
  • ASWATH DAMODARAN: 面对不确定性的估值

    Source: Rob Gowen, CFA
    Date Submitted: 14 Jun 2016
    Views: 442
    Downloads: 7
    This article appears on CFA Institute hedge fund journal 2013 issue, season 2. The original article appears on CFA Institute's official website: http://annual.cfainstitute.org/2013/05/21/aswathdamodaran-valuation-in-the-face-of-uncertainty/
  • 股市更好的机会或在下半年

    Source: 陈家琳,CFA
    Date Submitted: 14 Jun 2016
    Views: 286
    Downloads: 0
    This article appears on CFA Institute hedge fund journal 2014 issue, season 1.