WHAT YOU NEED TO KNOW: New Credit Card Rules The Federal Reserve’s new rules for credit card companies mean new credit card protections for you. Here are some key changes you should expect from your credit card company beginning on February 22, 2010. What your credit card company has to tell you When they plan to increase your rate or other fees. Your credit card company must send you a notice 45 days before they can increase your interest rate; change certain fees (such as annual fees, cash advance fees, and late fees) that apply to your account; or make other significant changes to the terms of your card. If your credit card company is going to makechanges to the terms of your card, it must give you the option to cancel the card before certain fee increases take effect. If you take that option, however, your credit card company may close your account and increase your monthly payment, subject to certain limitations. For example, they can require you to pay the balance off in five years, or they can double the percentage of your balance used to calculate your minimum payment (which will result in faster repayment than under the terms of your account). The company does not have to send you a 45-day advance notice if you have a variable interest rate tied to an index; if the index goes up, the company does not have to provide notice before your rate goes up; your introductory rate expires and reverts to the previously disclosed “go-to” rate; your rate increases because you are in a workout agreement and you haven’t made your payments as agreed. How long it will take to pay off your balance. Your monthly credit card bill will include information on how long it will take you to pay off your balance if you only make minimum payments. It will also tell you how much you would need to pay each month in order to pay off your balance in three years. For example, suppose you owe $3,000 and your interest rate is 14.4%—your bill might look like this: New balance $3,000.00 Minimum payment due $90.00 Payment due date 4/20/12 Late Payment Warning: If we do not receive your minimum payment by the date listed above, you may have to pay a $35 late fee and your APRs may be increased up to the Penalty APR of 28.99%. Minimum Payment Warning: If you make only the minimum payment each period, you will pay more in interest and it will take you longer to pay off your balance. For example: If you make no additional You will pay off the And you will end up The Federal Reserve Board charges using this card and balance shown on this paying an estimated www.federalreserve.gov each month you pay. . . statement in about. . . total of. . . Only the minimum payment 11 years $4,745 $103 3 years $3,712 (Savings = $1,033) New rules regarding rates, fees, and limits No interest rate increases for the fi rst year. Your credit card company cannot increase...
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Do Industries Lead Stock Markets? Harrison Hong Princeton University Walter Torous UCLA Rossen Valkanov UCLA First Draft: July 31, 2002 This Draft: November 24, 2004 Abstract: We investigate whether the returns of industry portfolios are able to predict the movements of stock markets. In the U.S., we find that a significant number of industry returns, including retail, services, commercial real estate, metal and petroleum, can forecast the stock market by up to two months. Moreover, the propensity of an industry to predict the market is correlated with its propensity to forecast various indicators of economic activity such as industrial production growth. When we extend our analysis to the eight largest stock markets outside of the U.S., we find remarkably similar
Institutional Investors and Stock Market Liquidity: Trends and Relationships Marshall E. Blume* and Donald B. Keim** This draft: August 21, 2012 First draft: March, 2008 *Howard Butcher III Professor, emeritus, **John B. Neff Professor of Financial Management of Finance Finance Department Finance Department The Wharton School The Wharton School University of Pennsylvania University of Pennsylvania 2300 Steinberg Hall - Dietrich Hall 2300 Steinberg Hall - Dietrich Hall Philadelphia, PA 19104-6367 Philadelphia, PA 19104-6367 Ph: (215) 898-7633 Ph: (215) 898-7685 Email: blume@wharton.upenn.edu Email: keim@wharton.upenn.edu (Corresponding author) An earlier version of this paper circulated under the title “Changing Institutional Preferences and Investment Performance: A Stock Holdings Perspective.” We thank Bob Litzenberger, Craig MacKinlay, Andrew Metrick, David Musto, David Ng, Rob Stambaugh and
S tate of C alifornia D epartment of R eal E state Real Estate MATTERS! C redit C ard P ayment RE 909 (Rev. 6/12) GENERAL INFORMATION Fees may be charged to your VISA, MasterCard, American Express, License Histories or Discover card. For certified license histories (license requirements for other states) or Credit card information must be mailed with appropriate forms. license history certifications (for legal purposes) complete the information requested below and mail to DRE with your Certified License History Original (sales, broker, or corporation) License Application Request (RE 293) or written request. Fee Complete the information requested below and mail to DRE with your Photocopies license application and supporting documents. For photocopy requests (certified & non-certified),
This extract from Adaptive Analysis for Australian Stocks by NickRadge was first published in 2006 by Wrightbooks. Extract has been updated and published in 2012 by Radge Publishing. © Nick Radge 2012. All rights reserved. You may copy, distribute and transmit this material in its original format. You may not alter, transform or build upon this work. Radge Publishing PO Box 721 Noosa Heads QLD 4567 Australia. www.radgepublishing.com ISBN: 9780980871241 (EBook) Cover design: Zach Radge Disclaimer: The material in this publication is of the nature of general comment only and does not represent professional advice given by the publisher. It is not intended to provide specific guidance for your particular circumstances and it should not be solely relied upon as
Directions: You may complete the form fields at your computer, print, then sign and date OR print the form out and complete using a dark ink pen, printing clearly and carefully. The form must be signed and dated and all information must be complete in order for the record check to proceed. Incomplete forms will be returned. Credit card information should not be e-mailed.Mail or fax this form to the Criminal Records Review Program (address below). PART A – CREDIT CARD PAYMENT AUTHORIZATION I authorize the use of the following credit card to cover criminal record check(s) fees as follows (check one): Payment Type: p Visa p Mastercard p I hereby authorize to deduct $20.00 for each applicant listed in
1 ANNUAL REPORT TO CONGRESS: COLLEGE CREDIT CARDS OCTOBER 2012 ANNUAL REPORT TO CONGRESS College Credit Card Agreements 2 ANNUAL REPORT TO CONGRESS: COLLEGE CREDIT CARDS Table of Contents 1. Purpose.................................................................................................... 4 2. Introduction ............................................................................................. 5 3. Overview of College Card Agreements ................................................. 7 3.1 Credit Card Issuers ........................................................................... 7 3.2 College Card Agreements ................................................................ 9 3.3 Institutions of Higher Education, Affiliated Organizations, and Other Organizations ....................................................................... 11 3.4 Open College Credit Card Accounts ............................................... 12 4. Detailed Information About College Credit Card Agreements .......... 20 Appendix A: ................................................................................................. 22 College Credit Card Agreements in Effect in 2011 ................................. 22 Appendix B: ................................................................................................. 61 College Credit Card Agreements Terminated in 2010 ............................ 61 3 ANNUAL REPORT TO CONGRESS: COLLEGE CREDIT
Does the Stock Market Overreact? 805 2. R. Ball. "Anomalies in Relationships Between Securities' Yields and Yield-Surrogates." Journal of Financial Economics 6 (June-September 1978), 103-26. 3. S. Basu. "Investment Performance of Common Stocks in Relation to Their Price-Earnings Ratios: A Test of the Efficient Market Hypothesis." Journal of Finance 3 (June 1977), 663-82. 4. - . "The Relationship Between Earnings' Yield, Market Value and Return for NYSE Common Stocks: Further Evidence." Journal of Financial Economics 12 (June 1983), 129-56. 5. W. Beaver and W. R. Landsman. "Note on the Behavior of Residual Security Returns for Winner and Loser Portfolios." Journal of Accounting and Economics 3 (December 1981), 233-41. 6. M. Blume and R. Stambaugh. "Biases in Computed Returns: An Application
Trading Is Hazardous to Your Wealth: The Common Stock Investment Performance of Individual Investors BRAD M. BARBER and TERRANCE ODEAN* ABSTRACT Individual investors who hold common stocks directly pay a tremendous perfor- mance penalty for active trading. Of 66,465 households with accounts at a large discount broker during 1991 to 1996, those that trade most earn an annual return of 11.4 percent, while the market returns 17.9 percent. The average household earns an annual return of 16.4 percent, tilts its common stock investment toward high-beta, small, value stocks, and turns over 75 percent of its portfolio annually. Overconfidence can explain high trading levels and the resulting poor performance of individual investors. Our central message is that trading is hazardous to
What you need to know about your HSBC Credit Card effective 20 March 2013 1 Visa Credit Cards Customer Service Centre For customer service, lost or stolen or PIN queries: Call 132 152 Within Australia 1800 029 951 Overseas (61 2) 9005 8511 (reverse charges). HSBC Premier Centre Call 1300 301 168 Overseas (61 2) 9005 8192 If we are not notified, you may be liable for unauthorised use. Refer to conditions 13 and 14 of the HSBC Credit Card Conditions of Use. Important notice These conditions replace all HSBC Visa Credit Card Conditions of Use previously issued. This document does not contain all of the terms of your loan agreement or all of the information we are required to
COMMONWEALTH OF VIRGINIA Status Hotline Department of Criminal Justice Services (804) 786-1132 P.O. Box 1300 • Richmond, VA 23218 1-877-9STATUS Phone: (804) 786-4700 • Fax: (804) 786-6344 www.dcjs.virginia.gov/pss CREDIT CARD AUTHORIZATION FORM This form is to be used for CREDIT CARD PAYMENTS ONLY . Complete and submit with your application. Incomplete forms may be returned resulting in a delay in processing. VISA, MasterCard, AMEX accepted Credit Card Number Card Security Code MasterCard and Visa have a 3-digit code on the back of the card. American Express has a 4-digit code on the front of the card. Payment Amount: $ Card Expiration Date: / Month Year Cardholder Name (Print): DCJS ID: Cardholder’s Address: Street Address City State Zip Cardholder’s Signature: Daytime
A Model of Competitive Stock Trading Volume Jiang Wang iMassachzcsetts Institute of Technology A model of competitive stock trading is developed in which investors are heterogeneous in their information and private investment opportunities and rationally trade for both informational and non-informational motives. I examine the link between the nature of heterogeneity among investors and the behavior of trading volume and its relation to price dynamics. It is found that volume is positively correlated with absolute changes in prices and dividends. I show that informational trading and non informational trading lead to different dynamic relations between trading volume and stock re- turns. I. Introduction Trading volume plays a minor role in conventional models of asset prices (e.g., Merton 1973;
Financial Market Risks Risk is generally perceived as exposure to danger or potential losses. In financial markets, however, a risk, i.e. the possibility of suffering financial losses, is usually also associated with an opportunity for gain. In other words, investing in an asset with a risk carries a possibility of financial losses, and the higher the asset’s risk, the higher the potential losses, but also the possibility of substantial financial gains. Financial Risks Financial risk can arise from several factors and there are different types which may or may not be concurrent. The different types of risk and the likelihood that they will occur are incorporated in the price at which assets are traded on financial markets and so they
cations to foretell the future course of the stock market. Various sta- tistical tests of these results are given. These investigations were instituted five years ago as ...
Three Automated Stock-Trading Agents: A Comparative Study Alexander A. Sherstov and Peter Stone The University of Texas at Austin Department of Computer Sciences Austin, TX 78712 USA {sherstov, pstone}@cs.utexas.edu Abstract. This paper documents the development of three autonomous stock- trading agents within the framework of the Penn Exchange Simulator (PXS), a novel stock-trading simulator that takes advantage of electronic crossing net- works to realistically mix agent bids with bids from the real stock market [1]. The three approaches presented take inspiration from reinforcement learning, myopic trading using regression-based price prediction, and market making. These ap- proaches are fully implemented and tested with results reported here, including individual evaluations using a fixed opponent strategy and a comparative analysis of the strategies
An easy, convenient way to pay for the things you need. Credit Cards As at 1 November 2010 An easy way to pay for the things you need now Credit cards are a great way to manage your money and your lifestyle. You can buy the things you need now and pay off your card in a flexible way later. In this guide, you’ll find out more about the benefits of a Westpac credit card, the different types of cards to suit your needs and how to apply. What do you get with a Westpac credit card? Here’s just some of the benefits of having a Westpac credit card • get up to 55 days interest-free credit on purchases •
Copyright Martin Armstrong All Rights Reserved October 24th, 2012 Can the Stock Market Really Drop by 90%? mericans keep reliving the Great Depression just as the Germans relive the Hyperinflation. The analysis in both sectors has been also colored by such events. Neither group dig deeper to try to even understand why such events took place. In the US, the doom & gloom always emerges with the only blueprint being constantly the Great Depression. Overlooked was that money was tangible (GOLD) and thus hoarding “cash” was an escape from both government and the private sector. It was neutral. This is why Roosevelt confiscated gold to end the hoarding and devalued the dollar. These major factors are just not present today.
Stock Market Game, 2013 Purpose Participants in the SIFMA Foundation Stock Market Game develop and manage an investment portfolio. The Stock Market Game is conducted via the Internet and allows DECA members to test their knowledge and skills against other DECA members in an online competition. Each participating team manages all aspects of the portfolio including stock selection, buying and selling. The goal of the competition is to increase the value of the beginning portfolio. During the course of the Stock Market Game, participants will • develop investment strategies based on expectations of growth, diversification and stability • attempt to avoid the pitfalls of market decline, mergers and overextension Procedure • This event consists of a written document describing the
Lindblom Math & Science Academy Wins First-Ever Magnetar Ultimate Stock Trading Challenge Top Three Winning Teams Receive High School Grants of $5,000, $2,500 and $1,500 Chicago, Ill. – April 8, 2013 – Lindblom Math & Science Academy was named the winner on Saturday at the first-ever Magnetar Ultimate Stock Trading Challenge, a day-long stock trading event that brought together nearly 100 Chicago Public High School students to learn first-hand how the stock market works. The Challenge was sponsored by the Magnetar Youth Investment Academy, a financial literacy program currently in 21 locations throughout Chicago. The program is underwritten by the Magnetar Capital Foundation, and employees from the Evanston-based alternative asset group mentored students throughout the day. Students worked as teams
The following contains detailed information about the important aspects of a credit card offer 1) APR for purchases The interest rate you pay, on an annual basis, if you carry over balances on purchases from one billing cycle to the next. If the card has an introductory rate, you will also see the rate that applies after the introductory rate ends. Multiple interest rates may be listed here. Your rate will depend on your creditworthiness, which is based on your debt, income, credit score, and other factors, such as your history of paying bills on time. 2) APR for balance transfers The interest rate you pay, on an annual basis, if you transfer a balance from another card. Balance transfer
Selected Papers l No. 16 Random Walks in Stock- Market Prices By EUGENE F. FAMA GRADUATE SCHOOL OF BUSINESS UNIVERSITY OF CHICAGO EUGENE F. FAMA is the Theodore 0. Yntema Pro- fessor of Finance at the Graduate School of Busi- ness of the University of Chicago. His research interests encompass the broad areas of economics, finance, statistics, mathematical methods, and com- puters, and he has been particularly concerned zoith the behavior of stock-market prices. A leader in developing the so-called “efficient markets” hy- pothesis, his influential writings have stimulated a large volume of related research at Chicago and elsewhere. Professor Fama received the B.A. degree (magna cum laude) from Tufts University in 1960 and the Ph.D. degree from the University
Stock Market Development and Economic Growth: Evidence from Developing Countries Hamid Mohtadi and Sumit Agarwal ∗ Abstract This study examines the relationship between stock market development and economic growth for 21 emerging markets over 21 years, using a dynamic panel method. Results suggest a positive relationship between several indicators of the stock market performance and economic growth both directly, as well as indirectly by boosting private investment behavior. Thus they lend support both to the financial intermediation literature as well as to the traditional growth literature. ∗ Authors are, Associate Professor, University of Wisconsin-Milwaukee and Senior Quantitative Analyst, Fleet Financial, Providence, RI. For correspondence contact the first author, at Department of Economics, University of Wisconsin-Milwaukee, Milwaukee, WI 53201, email: mohtadi@uwm.edu
page 1 of 9 BROUGHT TO YOU BY: The Ultimate Competition of Online Stock Trading and Investment COMPETITION GUIDELINES (effective September 12, 2012) ABOUT THE COMPETITION 1. The FIRST METRO – PSE – CEAP STOCK X CHALLENGE (THE TOURNAMENT) is an online stock trading tournament accessible through the PSE ACADEMY WEBSITE (www.pseacademy.com.ph). 2. This virtual stock trading game is an ideal method to practice investment strategies, test market theories, practice equities trading, and buy and sell shares of stock with other virtual stock traders. 3. The virtual trading facility runs using real or actual market prices of the Exchange and is close to the current online trading system of the PSE. 4. The tournament starts at midnight or 12:00 AM
Baird Market & Investment Strategy 2013 Economic & Stock Market Outlook December 12, 2012 Please refer to Appendix – Important Disclosures. America Endures: The Bridge to the Next Secular Bull Market Outlook Summary Weight of the Evidence Mildly Bullish for Stocks Entering 2013; Intermediate Path Forward Dependent on Broad Market Participation U.S. Economy in Slow Growth Mode; Europe in Recession; Emerging Markets Outlook Improving 2013 Offers Potential for Pivot From Marking Time to Making Progress; Resolution of Major Fiscal Uncertainties Could Provide Bridge to Next Secular Bull Market for U.S. Economy & Stocks Risk on S&P 500 To 1100; Reward to 1500 Highlights: • Lack of Real Fiscal Progress Clouds Outlook • Central Banks Activity Provides Cover On Fiscal Front
Virtual Stock Market Game Glossary American Stock Exchange-AMEX An open auction market similar to the NYSE where buyers and sellers compete in a centralized marketplace. The AMEX typically lists small to medium cap stocks of younger or smaller companies. Until 1921 it was known as the New York Cumulative Exchange. Ask The price at which someone who owns a security offers to sell it; also known as the asked price. (See also "Best Ask".) Assets Any possessions that has value in an exchange. Average Daily Share Volume The number of shares traded per day, averaged over a period of time, usually one year. Average Maturity The average time to maturity of securities held by a mutual fund. Changes in interest
Stock Price Expectations and Stock Trading Michael D. Hurd RAND, NBER, NETSPAR and MEA Susann Rohwedder RAND and NETSPAR October, 2011 Many thanks to the National Institute on Aging for research support under grants P01 AG008291 and P01 AG26571. The NIA and the Social Security Administration supported the collection of the ALP data used in this paper. We would like to thank the ALP project team and Alessandro Malchiodi for their hard work in fielding the surveys. 1 ABSTRACT Background: The fact that many individuals inexplicably fail to buy stocks, despite the historical evidence for a good return on investment has been referred to as the stock market puzzle. However, measurements of the subjective probability of a gain show that
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