Sentences with phrase «period factor return»
Why Is Next - Period Factor Return Related to Current Valuation?
https://www.researchaffiliates.com/ Not exact matches
To achieve their return and minimize their default risk, they have to get the entire mix right: pricing risk, factor rates, turnaround times, period of the advance, programs, systems and collections.
Actual results, including with respect to our targets and prospects, could differ materially due to a number of factors, including the risk that we may not obtain sufficient orders to achieve our targeted revenues; price competition in key markets; the risk that we or our channel partners are not able to develop and expand customer bases and accurately anticipate demand from end customers, which can result in increased inventory and reduced orders as we experience wide fluctuations in supply and demand; the risk that our commercial Lighting Products results will continue to suffer if new issues arise regarding issues related to product quality for this business; the risk that we may experience production difficulties that preclude us from shipping sufficient quantities to meet customer orders or that result in higher production costs and lower margins; our ability to lower costs; the risk that our results will suffer if we are unable to balance fluctuations in customer demand and capacity, including bringing on additional capacity on a timely basis to meet customer demand; the risk that longer manufacturing lead times may cause customers to fulfill their orders with a competitor's products instead; the risk that the economic and political uncertainty caused by the proposed tariffs by the United States on Chinese goods, and any corresponding Chinese tariffs in response, may negatively impact demand for our products; product mix; risks associated with the ramp - up of production of our new products, and our entry into new business channels different from those in which we have historically operated; the risk that customers do not maintain their favorable perception of our brand and products, resulting in lower demand for our products; the risk that our products fail to perform or fail to meet customer requirements or expectations, resulting in significant additional costs, including costs associated with warranty returns or the potential recall of our products; ongoing uncertainty in global economic conditions, infrastructure development or customer demand that could negatively affect product demand, collectability of receivables and other related matters as consumers and businesses may defer purchases or payments, or default on payments; risks resulting from the concentration of our business among few customers, including the risk that customers may reduce or cancel orders or fail to honor purchase commitments; the risk that we are not able to enter into acceptable contractual arrangements with the significant customers of the acquired Infineon RF Power business or otherwise not fully realize anticipated benefits of the transaction; the risk that retail customers may alter promotional pricing, increase promotion of a competitor's products over our products or reduce their inventory levels, all of which could negatively affect product demand; the risk that our investments may experience periods of significant stock price volatility causing us to recognize fair value losses on our investment; the risk posed by managing an increasingly complex supply chain that has the ability to supply a sufficient quantity of raw materials, subsystems and finished products with the required specifications and quality; the risk we may be required to record a significant charge to earnings if our goodwill or amortizable assets become impaired; risks relating to confidential information theft or misuse, including through cyber-attacks or cyber intrusion; our ability to complete development and commercialization of products under development, such as our pipeline of Wolfspeed products, improved LED chips, LED components, and LED lighting products risks related to our multi-year warranty periods for LED lighting products; risks associated with acquisitions, divestitures, joint ventures or investments generally; the rapid development of new technology and competing products that may impair demand or render our products obsolete; the potential lack of customer acceptance for our products; risks associated with ongoing litigation; and other factors discussed in our filings with the Securities and Exchange Commission (SEC), including our report on Form 10 - K for the fiscal year ended June 25, 2017, and subsequent reports filed with the SEC.
June 1, 2016: A recent paper published by MSCI shows that Systematic Equity Strategy (SES) factors earned positive returns over a 20 - year period.
Index Portfolio 50 is shown at the fulcrum of the teeter - totter, and the period - specific expected return can be estimated based on 50 or 86 years of simulated historical returns, the Fama / French Five - Factor Model, or any reasonable method an investor chooses.
Actual results may vary materially from those expressed or implied by forward - looking statements based on a number of factors, including, without limitation: (1) risks related to the consummation of the Merger, including the risks that (a) the Merger may not be consummated within the anticipated time period, or at all, (b) the parties may fail to obtain shareholder approval of the Merger Agreement, (c) the parties may fail to secure the termination or expiration of any waiting period applicable under the HSR Act, (d) other conditions to the consummation of the Merger under the Merger Agreement may not be satisfied, (e) all or part of Arby's financing may not become available, and (f) the significant limitations on remedies contained in the Merger Agreement may limit or entirely prevent BWW from specifically enforcing Arby's obligations under the Merger Agreement or recovering damages for any breach by Arby's; (2) the effects that any termination of the Merger Agreement may have on BWW or its business, including the risks that (a) BWW's stock price may decline significantly if the Merger is not completed, (b) the Merger Agreement may be terminated in circumstances requiring BWW to pay Arby's a termination fee of $ 74 million, or (c) the circumstances of the termination, including the possible imposition of a 12 - month tail period during which the termination fee could be payable upon certain subsequent transactions, may have a chilling effect on alternatives to the Merger; (3) the effects that the announcement or pendency of the Merger may have on BWW and its business, including the risks that as a result (a) BWW's business, operating results or stock price may suffer, (b) BWW's current plans and operations may be disrupted, (c) BWW's ability to retain or recruit key employees may be adversely affected, (d) BWW's business relationships (including, customers, franchisees and suppliers) may be adversely affected, or (e) BWW's management's or employees» attention may be diverted from other important matters; (4) the effect of limitations that the Merger Agreement places on BWW's ability to operate its business, return capital to shareholders or engage in alternative transactions; (5) the nature, cost and outcome of pending and future litigation and other legal proceedings, including any such proceedings related to the Merger and instituted against BWW and others; (6) the risk that the Merger and related transactions may involve unexpected costs, liabilities or delays; (7) other economic, business, competitive, legal, regulatory, and / or tax factors; and (8) other factors described under the heading «Risk Factors» in Part I, Item 1A of BWW's Annual Report on Form 10 - K for the fiscal year ended December 25, 2016, as updated or supplemented by subsequent reports that BWW has filed or files with tfactors, including, without limitation: (1) risks related to the consummation of the Merger, including the risks that (a) the Merger may not be consummated within the anticipated time period, or at all, (b) the parties may fail to obtain shareholder approval of the Merger Agreement, (c) the parties may fail to secure the termination or expiration of any waiting period applicable under the HSR Act, (d) other conditions to the consummation of the Merger under the Merger Agreement may not be satisfied, (e) all or part of Arby's financing may not become available, and (f) the significant limitations on remedies contained in the Merger Agreement may limit or entirely prevent BWW from specifically enforcing Arby's obligations under the Merger Agreement or recovering damages for any breach by Arby's; (2) the effects that any termination of the Merger Agreement may have on BWW or its business, including the risks that (a) BWW's stock price may decline significantly if the Merger is not completed, (b) the Merger Agreement may be terminated in circumstances requiring BWW to pay Arby's a termination fee of $ 74 million, or (c) the circumstances of the termination, including the possible imposition of a 12 - month tail period during which the termination fee could be payable upon certain subsequent transactions, may have a chilling effect on alternatives to the Merger; (3) the effects that the announcement or pendency of the Merger may have on BWW and its business, including the risks that as a result (a) BWW's business, operating results or stock price may suffer, (b) BWW's current plans and operations may be disrupted, (c) BWW's ability to retain or recruit key employees may be adversely affected, (d) BWW's business relationships (including, customers, franchisees and suppliers) may be adversely affected, or (e) BWW's management's or employees» attention may be diverted from other important matters; (4) the effect of limitations that the Merger Agreement places on BWW's ability to operate its business, return capital to shareholders or engage in alternative transactions; (5) the nature, cost and outcome of pending and future litigation and other legal proceedings, including any such proceedings related to the Merger and instituted against BWW and others; (6) the risk that the Merger and related transactions may involve unexpected costs, liabilities or delays; (7) other economic, business, competitive, legal, regulatory, and / or tax factors; and (8) other factors described under the heading «Risk Factors» in Part I, Item 1A of BWW's Annual Report on Form 10 - K for the fiscal year ended December 25, 2016, as updated or supplemented by subsequent reports that BWW has filed or files with tfactors; and (8) other factors described under the heading «Risk Factors» in Part I, Item 1A of BWW's Annual Report on Form 10 - K for the fiscal year ended December 25, 2016, as updated or supplemented by subsequent reports that BWW has filed or files with tfactors described under the heading «Risk Factors» in Part I, Item 1A of BWW's Annual Report on Form 10 - K for the fiscal year ended December 25, 2016, as updated or supplemented by subsequent reports that BWW has filed or files with tFactors» in Part I, Item 1A of BWW's Annual Report on Form 10 - K for the fiscal year ended December 25, 2016, as updated or supplemented by subsequent reports that BWW has filed or files with the SEC.
Thanks to a perfect storm of factors, investment returns for the period from 1985 to 2015 came in at well above the historical norm.
Even though investing in the best decile of a composite of value factors averages out to have excess returns of almost four percent annualized, when looking at shorter investment periods it only works a little better than two out of three years on a one - year basis.
And to understand this return, one would have to discover the factors contributing to the boom period — factors no longer a part of the scene today.
Athletes who suffer concussion should follow a six - step, symptom - limited, return to play process towards return to game play and may require a longer rest period and / or extended period of non-contact exercise before return than adults because they have a different physiological response to concussion, take longer to recover, and have other unique risk factors.
Which factors determine when you period returns during breastfeeding?
When the first period returns depends upon several factors: how frequently the baby is nursing, how often the baby is supplemented with bottles, whether or not the baby takes a pacifier, how long the baby is sleeping at night, whether or not solids have been introduced, and the mother's own individual body chemistry and the way it responds to hormonal influences associated with breastfeeding.
The return of your period, a new pregnancy, or other factors can cause a decrease in your breast milk supply.
To be sure, while focusing on factor and smart beta strategies has historically, over longer periods of time, earned higher risk - adjusted returns relative to the broader market, there have been stretches, even long ones, when factor - based approaches underperformed (think value during the 1990s), according to data accessible via Bloomberg.
Your adviser should provide a dollar - weighted return (or «internal rate of return»), which factors in any deposits or withdrawals you made during the period.
As for the question, the returns depend on several factors and can vary over periods.
Factors are stock characteristics that studies have identified as being correlated with superior total returns over long time periods.
While a comparison of rolling returns over simulated holding periods is instructive, it does not adjust for the fund's volatility or exposures to various factors.
While factors have exhibited excess risk - adjusted returns over long time periods as seen above, over short horizons factors exhibit significant cyclicality, including periods of underperformance.
Returns shown for the subaccounts for periods before their inception are derived from the historical performance of the underlying fund, adjusted to reflect the mortality, expense risk, and surrender charges applicable to this product and do not factor in the annual $ 30 contract maintenance fee.
Academic research by Eugene Fama and Kenneth French has provided convincing evidence that exposure to risk factors based on company size (smaller = riskier) and value / growth (value = riskier) has resulted in higher returns over many periods in multiple countries.
Most have achieved their fortunes by compounding a moderate but consistent rate of return over a long period of time.There is a simple mathematical explanation for why these two factors are most important in building wealth:
We found that this multi-factor portfolio outperformed the S&P 500 from July 1963 to December 2015 (the longest period for which data is available for all four factors, and the returns include dividends).
Using return data and strategy descriptions spanning a total of 6,352 hedge funds over the period January 1970 through June 2009 and risk factor adjustment data for a January 1994 through March 2009 subperiod, he concludes that: Keep Reading
My guess is that over a decade - long period these two factors should provide enough additional return to outweigh any fee differential.
They focus on net fund alphas, meaning after - fee returns in excess of the risk - free rate, adjusted for exposures to three kinds of risk factors well known at the start of the sample period: (1) traditional equity market, bond market and credit factors; (2) dynamic stock size, stock value, stock momentum and currency carry factors; and, (3) a volatility factor specified as monthly returns from buying one - month, at ‐ the ‐ money S&P 500 Index calls and puts and holding to expiration.
If we averaged the return over large, medium and small companies, the best factor was the price - to - book ratio, generating an average compound annual return of 10.92 % compared with 2.25 % for the market over the period.
Even though using the 5 - year average FCF yield on mid cap companies (third best single factor we tested) over the test period would have given you a higher return than the 12 - month FCF yield, the results for the other market size companies would have been a lot lower.
Despite the fact that many single - factor strategies have empirically delivered positive excess returns in the long run, they have suffered periods of substantial underperformance under certain market conditions due to their cyclicality.
So if people simply started saving more and doing it over a longer period of time (two factors they can influence much more than they can return rate), they would be much better off.
Unlike TAA, there is plenty of evidence across markets (but not in all time periods) that these factors increase returns or reduce risk or both.
The math equation for the 1926 — 1935 time period looks like this (NOTE: the list of numbers you see below are the annual price returns for the S&P expressed as factors):
More recently, for the past eight years, value investing has been a disaster with the Russell 1000 Value Index underperforming the S&P 500 by 1.6 % a year, and the Fama — French value factor in large - cap stocks returning − 4.8 % annually over the same period.
Examples of documentation that can be used to support extenuating circumstances include documents that confirm the event (such as a copy of a divorce decree, medical bills, notice of job layoff, job severance papers, etc.) and documents that illustrate factors that contributed to the borrower's inability to resolve the problems that resulted from the event such as a copy of insurance papers or claim settlements, listing agreements, lease agreements, tax returns (e.g. covering the periods prior to, during, and after a loss of employment).
Moreover, the momentum factor can struggle during periods where investors are reducing risk and asset returns are highly correlated.
Because carry and value require longer holding periods to harvest the factors» returns, the authors take the extra step of setting those strategy portfolios» monthly weights to the trailing average of the prior -12-months model weights.
The average annualized factor return in the United States over our study period July 1973 — September 2016 is 4.86 %.
[1] The discovery of the «small cap risk premium» — over a 40 - year period to 1975 small cap stocks outperformed large cap stocks on a risk - adjusted returns basis — officially made size an investment factor.
It's certainly true that perhaps 70 % of the dispersion of returns over a 5 - to - 10 year period are driven by macro-economic factors (Putin invades - > the EU sanctions - > economies falter - > the price of oil drops - > interest rates fall) but that fact is not useful because such events are unforecastable and their macro-level impacts are incalculably complex (try «what effect will European reaction to Putin's missile transfer offer have on shadow interest rates in China?»).
Make sure you are comparing apples with apples by paying attention to factors like how often the quoted fees will be charged on your account and the period the investment returns relate to.
The other funds have underperformed in periods when momentum delivered a decent return on paper in the theoretical long — short momentum factor portfolio.
The VIAS model portfolio returns do not reflect actual trading and may not reflect the impact that material economic and market factors may have had on VIAS» decision - making had VIAS actually managed client funds during the performance periods displayed above.
If C02 is the largest single contributing factor to the Greenhouse Effect (because supposedly water vapor is only involved as a feedback to primary chemistry involving C02 itself), and C02 lags temperature increases (as has been stated on this very blog), how has the Earth ever returned to colder glacial conditions following periods of warming?
In this study, we run the impact model with a set of 11 different reduction factors between 5 % and 95 % applied to the return period (i.e., the average recurrence interval) of simulated discharge peaks.
When users selected 3 - 4 factors relevant to wrongful dismissal reasonable notice periods, we would return a list of court judgments that matched, and provided links to see the decisions where available.