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a). Faith asks for information concerning the benefits of active portfolio management. She is particularly interested in the question of whether active managers can be expected to consistently exploit inefficiencies in the capital markets to produce above average returns without assuming higher risk. The semi strong form of the efficient market hypothesis (EMH) asserts that all publicly available information is rapidly and correctly reflected in securities prices. This assertion implies that investors cannot expect to derive above average returns from purchases made after the information has become public because security prices already reflect the information
i) Identify and explain three examples of empirical evidence that tend to support the EMH implication stated above.
ii) Identify and explain three examples of empirical evidence that tend to refute the EMH implications stated above.
b). X Ltd recently paid an annual dividend on its stock of Shs.2 per share. The divided is expected to grow at Shs.l per share for the next four years. Thereafter the dividend is expected to grow at 5 % per year indefinitely. The required rate of return on stocks with similar risk is 12%. 'What is the intrinsic value of X Ltd.'s stock?
Find the standard deviation of the amount that he spends on a given day for his cell phone service.
Consider the circuit in Figure. - Determine the value of Y. -- What is the logic function implemented by the circuit?
A 0.88-µm communication system transmits data over a 10-km single-mode fiber by using 10-ns (FWHM) pulses. Determine the maximum bit rate if the LED has a spectral FWHM of 30 nm. Use D = -80 ps/(km-nm).
Write the MATLAB program for the decoding process.
A silicon step junction diode with NA acceptor atoms on the p side and ND donor atoms on the n side is fabricated. The diode is not ideal. What is the dominant current mechanism for forward applied voltages close to zero
A canonical base for H7 is {(0000001), (0000010), (0000100), (0001000), (0010000), (0100000), (1000000)}. Express the vector (1010111) as a linear combination of the elements of the canonical base.
A 4 pole, 60 Hz, 50 hp, 480 V wye connected synchronous motor has RA = 0 Xs = 2.5 ohms per phase and is operated at rated output horsepower with a rotational
Analysing an RF splitter and power levels, A splitter is a device that has a single input and several outputs. It is used to send a signal to several different locations
During the k^th sampling interval of a CVSD modulation scheme, the current value of input x(k) is 1000, the previous value of approximating staircase function x f(k-1) is 990, and the current value of ä(k-1) is 30.
Give the main methods of starting 3 phase induction motors. - Which method is considered best for starting squirrel cage induction motors.
Using ideal diodes and other components, construct a circuit that provides such a characteristic. (The value of resistors is not unique.)
An electric furnace has a minimum circuit ampacity rating of 50 A. What is the minimum current rating for the disconnect switch?
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