This calculator shows rates of return for a bond if you should sell it today. A graph shows you the trade-off in rates of return if you hold to maturity. Returns are provided on a pretax and after-tax basis.
Risk-adjusted Rate of Return is a performance measure that adjusts for the initial risk an investor takes at the time of a purchase.Every investor works with risk, but if they can quantify it, they should be able to make more informed decisions about which risks are worth taking. Calculating risk-adjusted...
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This article offers a method of identifying which futures markets should be most likely to offer positive returns to speculative capital. This article also offers an intuitive explanation for several stylized facts about managed futures. Those historical returns have, on average, exceeded the cost of capital for a long enough...
This paper uses yield spreads to construct ex-ante returns on corporate securities, and then use the ex-ante returns in asset pricing assets. Differently from the standard approach, the tests do not use ex-post average returns as a proxy for expected returns. It finds that the market beta plays a much...
This paper describes how an unconstrained long-only global fixed income strategy, managed against the Lehman Brothers Global Aggregate Index, can serve as the framework for an absolute return strategy. Both strategies would have the same investment universe, but the absolute return strategy would include long and short positions. In an...
Deciphering historical returns is the first step in understanding future returns. As one has seen, determining future returns for fixed income and IPS is an easier task than for equities. At the very least, these projected returns give's one a base in determining the relative value of those three asset...
This paper describes the risks implied by a mixed system of Social Security pension benefits with different combinations of pay-as-you-go taxes and personal retirement account PRA saving. The analysis shows how these risks can be reduced by using alternative private market guarantee strategies. The first such strategy uses a blend...
This white paper discusses how financial and social return can be measured in relation to the asset management in Dutch housing associations. The paper theoretically describes and assess the concepts of financial and social return and the indicators that can be used to measure them, focusing on decision-making concerning the...
Healthcare organizations that are unable to achieve the full benefits of new technology may not obtain the best or quickest return on their investment. While installing the right equipment can potentially improve the quality of care and patient experience your organization provides, only effective and complete use of that equipment...
This paper measures the expected return, standard deviation, alpha, and beta of venture capital investments. Overcoming selection bias is the central hurdle in evaluating these investments, and it is the focus of this paper. A valuation is only observed when a firm goes public, receives new financing, or is acquired....
This paper evaluates the central insight of the Consumption Capital Asset Pricing Model CCAPM that an asset's expected return is determined by its equilibrium risk to consumption. Rather than measure the risk of a portfolio by the contemporaneous covariance of its return and consumption growth as done in the previous...
A first effort to provide empirical knowledge of the features of investment in entrepreneurial capital and the associated risk and return has been recently made by Moskowitz and Vissing-Jorgensen (2002). This paper suggests a solution to the puzzling finding documented in Moskowitz and Vissing-Jorgensen (2002) that the return to an...
The answer to reducing the cost of returns does not always lie in improving the reverse logistics operations. At Philips Consumer Electronics, the returns management department has focused on how it can stop returns before they even enter the reverse supply chain. By taking preventative steps such as improving a...
Fannie Mae and Freddie Mac are government-sponsored enterprises GSEs with publicly traded equity. Although these companies hold government-issued charters, their securities are not legally backed by the full faith and credit of the United States government. Yet, investors and rating agencies seem to believe that the U.S. Government would "bail...
The article explains the lunar cycle effects in stock returns. It finds that the pattern of U.S. results is largely repeated but stronger for foreign countries. Specifically, new moon returns are higher than full moon returns for 23 out of 24 countries, where the average of annualized differences is on...
The subject of retail returns is big, messy, and embarrassing enough that retailers tend to keep quiet about it. Logistics executives toss around words like “nuisance” and “dirty laundry” when they discuss returns. The usual practice is to handle returns as simply as possible, usually at a significant loss. That...
In this paper, it uses macrovariables advocated by recent authors to make out-of-sample forecast for returns on individual stocks and then sort stocks equally into ten portfolios on this proxy of conditionally expected returns. The average returns increase monotonically from the first decile stocks with the lowest expected returns to...
Even if an actively managed fund outperformed a passive one, the excess would be eaten up by fees and transaction costs. In a taxable account, taxes caused by portfolio turnover would reduce returns. Past performance is no guarantee of future returns. The Successful Investor Today’s real value is the author’s...