Sentences with phrase «at the returns relative»

This is why value investors look at the returns relative to the price they paid.

Not exact matches

«The best predictor of future returns is whether you buy at low or high prices relative to earnings,» says Chris Brightman, chief investment officer of Research Affiliates, a firm that oversees strategies for $ 161 billion in mutual funds and ETFs.

«In the past year, companies repurchasing shares saw an excess weighted cumulative return of -1.9 % relative to the benchmark, while companies not repurchasing shares saw a return of 9.8 % relative to the benchmark,» Birstingl wrote in his quarterly look at buybacks.

To the extent investors are trying to maximize risk - adjusted returns, in our view, parts of the credit market look attractive, at least relative to U.S. stocks.

corporate goals and objectives for CEO compensation including, for long - term compensation, the Company's performance and relative stockholder return, the value of similar awards to CEOs at comparable companies and past CEO awards; and

Looking at monthly Bloomberg data from 1994 to the present, changes in the VIX Index, a measure of U.S. equity volatility, explain nearly 20 % of the variation in the relative return between gold and the S&P 500 Index.

Relative to the overall return of the S&P 500 over the same time it fared a little better as the S&P had a -.7 % return, however when you look at buy and hold investors they fared better at a return of 1.2 %.

Put simply, even taking account of current interest rate levels, and even assuming that stocks should be priced to deliver commensurately lower long - term returns, we currently estimate that the S&P 500 is about 2.8 times the level at which equities would provide an appropriate risk premium relative to bonds.

In determining the long - term incentive component of CEO compensation, the Committee shall consider, among other factors, the Company's performance and relative shareholder return, the value of similar incentive awards to chief executive officers at comparable companies, the awards given to the CEO in past years, and other factors considered relevant by the Committee.

At the August peak (see Looking Ahead to a Bullish Outlook, and What Will Define It), I noted that the position of the S&P 500 relative to its 200 - day moving average is not what defines favorable market action or our overall market return / risk classification.

Indeed, once our estimated market return / risk profile is strictly negative (as it is at present), the negative implications for the S&P 500 aren't affected by the position of the market relative to that average, except that the market tends to experience higher volatility once the market breaks that average.

When we are fully hedged, as we are at present (and provided that our long - put / short - call option combinations have identical strike - prices and expirations), the source of our returns is the performance of our favored stocks relative to the indices which we use to hedge.

Before the end of April, when the market started its gut - wrenching descent, «the combination of return generation and risk diversification was part of a broader virtuous circle for fixed income, which also included significant inflows to the asset class and direct support from central banks,» El - Erian writes at the start of his viewpoint, noting that in addition to delivering solid returns with lower volatility relative to stocks, the inclusion of fixed income in diversified asset allocations also helped to reduce overall portfolio risk.

One way to assess broad market value and expected returns is to look at a relative valuation measure and track subsequent market returns.

Taper at its heart is disinflationary for the US economy, and any yield sell - off makes the relative real returns associated with US bonds more appealing.

In addition, in a world of low yields and tight spreads, returns to these funds are also likely to be modest, at least relative to periods when yields were much higher.

Instead, they've run their finances conservatively enough that they can sit on depressed valuations for years at a time, knowing that they are still earning a good rate of return when measured as the cash flow that belongs to them relative to the price they paid for their ownership stake.

Whether we look at housing, mortgage backed securities, or stocks, the underlying reason for a decline in asset prices is the same - the prices are too elevated, relative to the stream of cash flows they will produce, to achieve an acceptable rate of return.

Importantly, when a preferred share is trading at a high current yield relative to the market yield, the investor receives a measure of protection from the impact of rising interest rates (or, if we're focused on real returns, the impact of rising inflation).

Even at that level of diversification, our day - to - day returns can be affected by large moves in even a single holding, but those effects go both ways, and the strong average performance of our holdings, relative to the market, has been an important contributor to the returns of the Strategic Growth Fund since inception.

But the interesting thing is that in the eyes of many investors, Apple's quarterly iPhone sales numbers seem to matter less now than they have for years — at least relative to how much cash Apple is generating and returning to shareholders through dividends and stock buybacks.

A message left with a woman who answered the phone at Masonry Services Inc. in an effort to reach David Herrera or his relatives who are listed as registered agents of Masonry Services Inc. was not returned.

It's no secret that inmates often have at least as much control over lockups as their nominal keepers — who can't be everywhere and who are willing to cede some power to inmate leaders in return for relative quiet.

He's accused of bribing Michalek, with help for a promotion; favors for two close relatives; Buffalo Sabres hockey tickets; and a seat at one of Cuomo's fund - raisers in return for favorable treatment in court cases in which he and his acquaintances had an interest.

She stepped down in 2013 to care for an ailing relative, then returned in 2015 when she was appointed to an at - large seat vacated by Arthur Pappas, who was appointed mayor after Mayor Robert Ortt was elected to the State Senate.

Loggerhead sea turtles, which feed thousands of miles from their hatching grounds, seem to return to breed with their genetic relatives at sites very close to their births.

It's instantly clear that Howard, along with returning screenwriter David Koepp, has learned nothing from the relative failure of both The Da Vinci Code and Angels & Demons, as Inferno, for the most part, chugs along at a lackadaisical pace that's compounded by an overlong running time and surfeit of underwhelming subplots.

When she returns home, she walks into the unchanged world of her childhood, looked at by relatives and former friends with curiosity and concern.

At 0.15 %, the expense ratio of MTUM was much lower than the 0.62 % of FTC and 0.57 % of PWB, which improved relative returns of MTUM.

Seeks to generate strong relative returns over a long - term time horizon by investing in companies across the market cap spectrum with strong and / or improving financial productivity at attractive valuations.

Seeks to generate strong relative returns over a full market cycle by investing in companies with strong and / or improving financial productivity at attractive valuations.

I determine the regression equation of a 30 - year sequence relative to the total return of the market (without withdrawals) at a specified year in that sequence.

This will allow you the freedom to maximize your long - term returns without worrying about short - term volatility, which will put you at an advantage relative to many other market participants.

An entity or entities to oversee the transaction, provide custody of the collateral, transmit payments, assure return of the asset at the end of the lending term, and gauge the adequacy of collateral relative to the value of the asset.

Look at it overall and then put investments in the best accounts relative to your overall portfolio to maximize your returns and your net worth.

Antonacci states that «relative momentum looks at price strength with respect to other assets, while absolute momentum looks for an asset's own positive excess return over a given look back period.»

Examining funds that have been around for at least 1.5 cycles (since October 2002, oldest share class only), the following delivered 50 % or more total return during bull markets, while limiting drawdowns to 50 % during bear markets, each relative to S&P 500.

Still, the value effect received its most famous academic endorsement in a 1992 paper by finance professors Eugene F. Fama and Kenneth R. French, who defined value stocks as those shares that trade at a low price relative to their book value («The Cross-Section of Expected Stock Returns,» Journal of Finance, Vol.

Simply put, the profitability factor discerns that if two companies trade at the same relative price, the one with higher profitability should have a higher expected return.

I think the best test is to look at per - trade returns relative to the dividend - adjusted index.

Their robust platform offers fixed income strategies that are managed in a total return framework with the goal of outperforming their indexes at the lowest relative risk and cost to the client.

Yet even for momentum we observe correlations between current valuation and future one - year relative returns at a highly significant 1 % level for aggregate valuations and at a 5 % level using P / B valuation.

It bears mention that Sanjoy Basu's seminal paper on the value effect appeared in 1977 after an extraordinary five - year run in which the value effect both delivered exceptional returns, following the collapse of the Nifty Fifty, and saw an exceptional rise in relative valuation to levels, at least on the basis of P / B, never seen since.

1 — we show, using U.S. data, that the relative valuation of a strategy (in comparison with its own historical norms) is correlated with the strategy's subsequent return at a five - year horizon.

Like the Nationwide Maximum Diversification U.S. Core Equity ETF (MXDU) launched last year, the Nationwide Maximum Diversification Emerging Markets Core Equity ETF (MXDE) seeks to deliver higher risk - adjusted returns relative to market cap - weighted strategies by creating a more diversified risk allocation aimed at capturing the full equity risk premium.

We consider as performance metrics: average annual excess return (relative to the yield on 1 - year U.S. Treasury notes at the beginning of each year); standard deviation of annual excess returns; annual Sharpe ratio; compound annual growth rate (CAGR); and, maximum annual drawdown (annual MaxDD).

Equities are priced for mid to high single - digit returns the next five years, relative to bonds at 3 % or 4 % and versus inflation.

Relative to the overall return of the S&P 500 over the same time it fared a little better as the S&P had a -.7 % return, however when you look at buy and hold investors they fared better at a return of 1.2 %.

Somme institutional investors will balk at this conclusion, but my experience in talking with institutional investors has been that though they look at many of the right forward looking indicators of manager quality, almost none of them will hire a manager that has the right people, process, etc., and has below average returns relative to peers or indexes.

I suggest benchmarking because I often encounter investors who are wrongly critical of their investment advisers (who are otherwise performing well) or unjustly satisfied with underperformance (because they are looking at absolute instead of relative returns).