Common Idiosyncratic Quantile Risk in Asset Pricing
This paper introduces a new type of risk, common idiosyncratic quantile (CIQ) risk, which captures common movements in the quantiles of idiosyncratic asset returns and offers a more nuanced understanding of risk beyond traditional volatility and downside risk measures.
7 Tips for Building Wealth
Building wealth requires adopting key financial practices such as saving, investing, financial education, setting goals, and exploring various investment avenues like starting a business or investing in stocks and real estate.
Exploiting Non-Zero Alpha in Linear Asset Pricing Models: A Two-Step Bias-Corrected Estimator and Portfolio Optimization with Phi-Portfolios
Non-zero alpha in linear asset pricing models, often overlooked, presents exploitable opportunities for constructing "phi-portfolios" that can outperform traditional mean-variance portfolios, especially when considering factor strengths and employing a bias-corrected estimator for risk premia.
Analyzing Risk Premia Dynamics in the Bitcoin Market Using Options Data
Bitcoin investors are compensated for risk through a significant Bitcoin Premium (BP) and Variance Risk Premium (VRP), particularly in low-volatility market regimes where downside risk is perceived as more substantial.
Stanley Druckenmiller Shorts US Treasury Bonds: Is This the End of the Bond Bull Market?
Billionaire investor Stanley Druckenmiller's decision to short US Treasury bonds reflects his belief that the Federal Reserve's attempts to control inflation will be insufficient, leading to a decline in the bond market.
영국 억만장자의 경고: 다가오는 글로벌 붕괴의 전조
저명한 투자자 제레미 그랜섬은 현재의 상황이 모든 자산 거품이며, 곧 경기 침체와 함께 S&P 500 지수가 50% 추가 하락할 가능성이 높다고 경고합니다.
British Billionaire Jeremy Grantham Predicts Potential Stock Market Crash and Recession
Jeremy Grantham, a respected investor with a history of accurately predicting market bubbles, believes there is a high probability of an impending recession and stock market correction.
ガーナにおける保険会社の破産に対する感度分析：依存と独立の仮定の影響比較
保険金請求の依存性を考慮せずに破産確率を計算すると、特に初期資本が大きい場合や大規模な保険会社では、過小評価につながる可能性がある。
Utility Maximization with Unbounded Payoffs in Constrained Financial Markets: Applications to Indifference Valuation, Regime Switching, Consumption, and Epstein-Zin Recursive Utility
This research develops a novel mathematical framework using quadratic backward stochastic differential equations (BSDEs) and convex duality to solve the utility maximization problem for an investor in incomplete financial markets characterized by unbounded payoffs, portfolio constraints, and potentially unbounded market coefficients.
지정학적 불안 속 비트코인: 끈질긴 약층과 암호화폐 시장 분석
이스라엘-이란 갈등과 같은 지정학적 불안정이 고조되더라도 비트코인은 에너지 가격 상승과 법정 화폐 가치 하락으로 인해 상승할 가능성이 높지만, 암호화폐 시장의 단기 변동성에 대비하여 신중한 투자 전략이 필요하다.
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