Initial Margin Requirements, Volatility, and the Individual Investor PDF Download
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Author: Kenneth Kim Publisher: ISBN: Category : Languages : en Pages :
Book Description
Initial margin requirements represent: (1) a cost impediment to the wealth constrained investor and (2) a potential way of mitigating excessive volatility. However, prior empirical research finds that margins are not an effective tool in reducing volatility. We consider the possibility that margins primarily affect certain stocks and investors. Specifically, we test whether margins affect individuals who, as a group, we believe to be the investors most affected when margin requirements change. Our initial empirical tests, however, do not support this contention.
Author: Kenneth Kim Publisher: ISBN: Category : Languages : en Pages :
Book Description
Initial margin requirements represent: (1) a cost impediment to the wealth constrained investor and (2) a potential way of mitigating excessive volatility. However, prior empirical research finds that margins are not an effective tool in reducing volatility. We consider the possibility that margins primarily affect certain stocks and investors. Specifically, we test whether margins affect individuals who, as a group, we believe to be the investors most affected when margin requirements change. Our initial empirical tests, however, do not support this contention.
Author: Richard Lehman Publisher: John Wiley & Sons ISBN: 1118022262 Category : Business & Economics Languages : en Pages : 224
Book Description
Practical option strategies for the new post-crisis financial market Traditional buy-and-hold investing has been seriously challenged in the wake of the recent financial crisis. With economic and market uncertainty at a very high level, options are still the most effective tool available for managing volatility and downside risk, yet they remain widely underutilized by individuals and investment managers. In Options for Volatile Markets, Richard Lehman and Lawrence McMillan provide you with specific strategies to lower portfolio volatility, bulletproof your portfolio against any catastrophe, and tailor your investments to the precise level of risk you are comfortable with. While the core strategy of this new edition remains covered call writing, the authors expand into more comprehensive option strategies that offer deeper downside protection or even allow investors to capitalize on market or individual stock volatility. In addition, they discuss new offerings like weekly expirations and options on ETFs. For investors who are looking to capitalize on global investment opportunities but are fearful of lurking "black swans", this book shows how ETFs and options can be utilized to construct portfolios that are continuously protected against unforeseen calamities. A complete guide to the increased control and lowered risk covered call writing offers active investors and traders Addresses the changing investment environment and how to use options to succeed within it Explains how to use options with exchange-traded funds Understanding options is now more important than ever, and with Options for Volatile Markets as your guide, you'll quickly learn how to use them to protect your portfolio as well as improve its overall performance.
Author: Martin S. Fridson Publisher: John Wiley & Sons ISBN: 0470039035 Category : Business & Economics Languages : en Pages : 321
Book Description
What happens when politicians substitute their wisdom for the market’s? The result is usually a government subsidy that provides advantage to a special interest group only–but costs everyone and drains the economy. In Unwarranted Intrusions, well-known financial commentator Martin Fridson turns his sharp eye for uncovering opaque financial reporting practices to the U.S. government and examines the economic reality of some of the most popular yet financially draining subsidies. Fridson debunks programs that claim to provide jobs, encourage savings, provide affordable housing, and preserve family farms–among many others. Unwarranted Intrusions is a provocative and exhaustively researched challenge to prevailing political claims of programs that purport to protect the public good.
Author: Gikas A. Hardouvelis Publisher: ISBN: Category : Languages : en Pages : 50
Book Description
Higher initial margin requirements are associated with lower subsequent stock market volatility during normal and bull periods, but show no relationship during bear periods. Higher margins are also negatively related to the conditional mean of stock returns, apparently because they reduce systemic risk. We conclude that a prudential rule for setting margins (or other regulatory restrictions) is to lower them in bear markets in order to enhance liquidity and avoid a de-pyramiding effect in stock prices, but subsequently raise them and keep them at the higher level in order to prevent a future pyramiding effect.
Author: M. T. Curley Publisher: Wiley ISBN: 0470267925 Category : Business & Economics Languages : en Pages : 224
Book Description
Margin Trading from A to Z offers a step-by-step explanation of the mechanics of the margin account. Filled with in-depth insights and expert advice, this book uses a hands-on approach to show how a Regulation T Margin Call is arrived at; how it may be answered; and how an account looks once a call is issued and after the call is met. Other items covered by this detailed guide include minimum maintenance requirements, short selling, memorandum accounts, options, hedge funds, and portfolio margining. The book includes quiz questions and a comprehensive exam.
Author: Ian Ayres Publisher: ReadHowYouWant.com ISBN: 1458758427 Category : Business & Economics Languages : en Pages : 358
Book Description
Diversification provides a well-known way of getting something close to a free lunch: by spreading money across different kinds of investments, investors can earn the same return with lower risk (or a much higher return for the same amount of risk). This strategy, introduced nearly fifty years ago, led to such strategies as index funds. What if we were all missing out on another free lunch that’s right under our noses? InLifecycle Investing, Barry Nalebuff and Ian Ayres-two of the most innovative thinkers in business, law, and economics-have developed tools that will allow nearly any investor to diversify their portfolios over time. By using leveraging when young-a controversial idea that sparked hate mail when the authors first floated it in the pages ofForbes-investors of all stripes, from those just starting to plan to those getting ready to retire, can substantially reduce overall risk while improving their returns. InLifecycle Investing, readers will learn How to figure out the level of exposure and leverage that’s right foryou How the Lifecycle Investing strategy would have performed in the historical market Why it will work even if everyone does it Whennotto adopt the Lifecycle Investing strategy Clearly written and backed by rigorous research,Lifecycle Investingpresents a simple but radical idea that will shake up how we think about retirement investing even as it provides a healthier nest egg in a nicely feathered nest.
Author: Kenneth Kim
Author: Kenneth Kim
Author: Paul H. Kupiec
Author: Paul H. Kupiec
Author: Richard Lehman
Author: Martin S. Fridson
Author: 
Author: Gikas A. Hardouvelis
Author: M. T. Curley
Author: Gikas A. Hardouvelis
Author: Ian Ayres