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Index funds refer to a mutual fund or Exchange Traded Fund (ETF) that track a specified basket of underlying securities (tradable financial assets). Moreover, ETFs are becoming an increasingly popular investment vehicle amongst both retail and institutional investors. More than 4,500 ETFs managed over 4.46 trillion USD worth
Electronic trading has become an increasingly important part of the fixed income market landscape in recent years. The rise of electronic trading has enabled a pickup of automated trading (including algorithmic and high-frequency trading) in fixed income futures and parts of cash bond markets. These recent changes have resulted
On 3rd October 2018, the iconic British marque synonymous with James Bond debuted on the London Stock Exchange, a milestone for the historically troubled carmaker, with a past marred by several bankruptcies. The shares were priced at £19, valuing the company at £4.3bn. While most IPOs are traditionally capital
After a volatile end to 2018, investors are now looking at what the new year can bring. Despite rising 7% against a broad basket of currencies in 2018, many now deem the dollar overvalued. Drawing parallels from both physics and Forex trading, it is well known that whatever goes up
In the past, industry specific start-up “rules of thumb” may have been sufficient to serve as reasonable basis for any valuation concern. Combined with the unique market dynamics and regulatory environment associated with the medical technology industry, start-ups in this field present a unique set of valuation considerations.
The objective of this series, Risk in Investment Management and Financial Services, is to provide a top-level introduction to risk in investment management and financial services. A broader and wider understanding of different types of risk faced in investment management and financial services is critical towards our understanding of
Yield curve inversions have traditionally been a foretelling sign of impending recessions. To explain the idea of a yield curve, one needs to understand what exactly a yield is. A yield to maturity, or simply bond yield has multiple interpretation, the simplest being – it is the return an investor realises
Back in 2010, Goldman Sachs was sued by the US Securities and Exchange Commission over allegations that it had misled clients over the mortgage backed securities it had sold. Internal Goldman emails surfaced showing how arrogant self-interest bankers had left their clients out in the cold to save their
Turbulence in the global financial markets, particularly in the technology sector, saw equity sell offs, oil prices tumble, and dollar swings this week as concerns over the global economy intensified as investors fear growing trade tensions and weak corporate earnings. FAANG stocks, which had previously powered the recent post crisis
The Economist has called them “an addiction to corporate cocaine.” Reuters has called them “self-cannibalization.” The Financial Times has called them “an overwhelming conflict of interest.” In an article that won the HBR McKinsey Award for the best article of the year, Harvard Business Review has called them “stock
US crude oil prices entered a bear market [defined as a 20% drop from a recent high] on Thursday as concerns of tight global supplies eased. This follows Washington allowing eight countries to continue buying Iranian crude, softening the blow of new international sanctions on the nation. In addition to
If you want a good example of how volatile biotechnology stocks can be, look no further than Puma Biotechnology Inc. This cancer-focused biotechnology company was founded 8 years ago and went public in 2012 with shares trading around $10 per share. In 2014 that share price rocketed to +$260
