Suchergebnisse

"Winning at Active Management conducts an in-depth examination of crucial issues facing the investment management industry, and will be a valuable resource for asset managers, institutional consultants, managers of pension and endowment funds, and advisers to individual investors. Bill Priest, Steve Bleiberg and Mike Welhoelter all experienced investment professionals, consider the challenges of managing portfolios through complex markets, as well as managing the cultural and technological complexities of the investment business. The book & rsquo;s initial section highlights the importance of culture within an investment firm & ndash; the characteristics of strong cultures, the imperatives of communication and support, and suggestions for leading firms through times of both adversity and prosperity. It continues with a thorough discussion of active portfolio management for equities. The ongoing debate over active versus passive management is reviewed in detail, drawing on both financial theory and real-world investing results. The book also contrasts traditional methods of portfolio management, based on accounting metrics and price-earnings ratios, with Epoch Investment Partners & rsquo; philosophy of investing on free cash flow and appropriate capital allocation. Winning at Active Management closes with an inquiry into the crucial and growing role of technology in investing. The authors assert that the most effective portfolio strategies result from neither pure fundamental nor quantitative methods, but instead from thoughtful combinations of analyst and portfolio manager experience and skill with the speed and breadth of quantitative analysis. The authors illustrate the point with an example of an innovative Epoch equity strategy based on economic logic and judgment, but enabled by information technology. Winning at Active Management also offers important insights into selecting active managers & ndash; the market cycle factors that have held back many managers & rsquo; performance in recent years, and the difficulty of identifying those firms that truly possess investment skill. Drawing on behavioral economic theory and empirical research, the book makes a convincing case that many active investment managers can and do generate returns superior to those of the broad market"--

In this book you will learn: - The practical applications of the free cash flow framework, successfully practiced by Epoch Investment Partners over the last 10 years, examining historical equity market returrns and showing the superiority of the techniques to traditional methods derived from accounting-based earnings measures.

Testimony issued by the General Accounting Office with an abstract that begins "Pursuant to a congressional request, GAO discussed the Supplemental Security Income (SSI) program, focusing on: (1) the problem areas that currently pose the greatest risk to the SSI program; (2) the Social Security Administration's (SSA) recent efforts to improve the SSI program; and (3) additional actions that should be taken."

Background: Labour is a physiologic process during which the fetus, membranes, umbilical cord and placenta are expelled from the uterus. The process of labour is divided into three stages: Stage I: Commences with the start of labour pains and ends with full dilatation of the cervix. Stage II: Begins with full dilatation of the cervix and ends with complete expulsion of the fetus. Stage III: This stage commences with the delivery of entire fetus and ends with the delivery of placenta and membranes. Objectives: (i) Estimate the duration of third stage of labour in patients in whom placental blood drainage was done and those patients in whom placental blood was not drained. (ii) Measure the amount of blood loss in those with PBD and in those in whom PBD is not done. (iii) Measure the fall in Haemoglobin concentration 48 hours following delivery in both groups. Methods: This was a prospective, hospital based, case control study conducted in the Post Graduate Department of Obstetrics and Gynaecology, Lal Ded Hospital, Government Medical College, Srinagar. Hundred patients with term pregnancy (≥37 weeks of gestation) with single live foetus undergoing normal vaginal delivery were included in the study. Patients were randomly allocated into two groups, one with 50 patients in whom PBD was done and another group of 50 patients in whom PBD was not done. Results: In the present study, the average age of the patients was 30.4 years in study group and 30.7 years in the control group. The mean gestational age at delivery in our study was 38.5 and 38.8 weeks in the study and control group, respectively. Primigravida formed the biggest group (34%) in the study group in our study, while women with second pregnancy formed the most populous group (36%) in control series. The mean duration of the third stage was 170.2 seconds in the cases group in contrast to 248.3 seconds in the control group. (p-value <0.001). The mean blood loss in cases group was 171.8 ml while in patients belonging to control group, the mean blood loss was ...