Research paper Example | Topics and Well Written Essays - 500 words - 2

Research Paper Example The painting is an exact mirror image of this city. It shows a jumbled up maze with roads and ladders. New York is considered to be one of the busiest and most expensive cities of the world located in the most advanced country/continent- North America. The Food culture of this city is a mixed culture with Italian, European as well as Chinese food. However because it is a diverse city with people from all over the world, all kinds of food is eaten over here. New York is considered to be the cultural capital of the world, the reason once again being the diversity on cultures ranging from contemporary to modern covering all regions of the world. As for its architecture, New York has the world’s most remarkable and extraordinary architecture with noteworthy buildings mostly made of stone and brick. The city has tall and huge buildings and a rich architectural history. The weather of New York is sub-tropical, and both winters and summers are quite different. Summers being sunny, humid and warm while winters being cold and moist because of rain. Moreover, New York is the center for many activities related to media such as television, music, print media, films and advertising. This amazing piece of art as described by the author as a ‘construction’ rather than just a painting shows a process of building and growing. It is classified as a painting using oil paints on a wood canvas, bright colors with a view that makes it look like separate pieces joined together to portray the process of uncanny structures used to show life in this city. The dimensions of this work are 9 5" x 11 3" x 1 Â ½ and light makes it look brighter. The period in which the painting was made is the CONTEMPORAY period, and the style of the painting is also contemporary, showing the current state of the city. The style flourished since after World War 2 and continues till today. EXPRESSIONISM is prominent in paintings of this era that originated in Germany. The art

Bristol-Myers Squibb :: GCSE Business Marketing Coursework

Bristol-Myers Squibb Bristol-Myers Squibb is a worldwide health and personal care company with major businesses in medicines, beauty care, nutritionals, and medical devices. BMS is a leader in innovative therapies for cardiovascular, metabolic and infectious diseases, central nervous system and dermatalogical disorders, and cncer. They are also leaders in consumer medicine, orthopaedic devices, ostomy care, wound management, nutritional supplements, infant formulas, and hair and skin care products.Some of the very well known products manufactured by Bristol-Myers Sqibb are Bufferin, Excederin, Enfamil, Clairol, and Sea Breeze. Another large part of BMS is their research and development of new pharmecutical products. Their annual budget for research and development is in excess of one billion dollars. Bristol-Myers Squibb is the product of a merger between Bristol-Myers and Squibb Company in 1989. Bristol-Myers was originally Clinton Pharmecuticals, a failing drug manufacturing firm. In 1887 William McLaren Bristol and John Ripley Myers invested five thousand dollars in the company and on December 13, 1887 became president and vice president respectively. In 1898 the name was changed from Clinton Pharmecutical Company to Bristol,Myers Company. In 1899, after Myers's death, the comma was replaced by a hyphen. In 1856 Edward Robinson Squibb founded a pharmecutical company in Brooklyn, New York. In 1895 the company became E.R. Squibb & Sons when Squibb passed most of the responsibility to his sons. The company was then sold to Lowell M. Palmer and Theodore Weiker in 1905. Then in 1989 came the merger of Bristol-Myers and Sqibb creating, what was then, the second largest pharmecutical enterprise in the world. Bristol-Myers Squibb currently employs over 57,000 people in more than 60 countries around the world. A highly diversified corporation, BMS has career opportunities in a variety of business and technical fields. For a descriptive list of current openings, as well as contact names and addresses, consult Bristol-Myers Squibb's employment page at www.bms.com/joinus. Recruiting also takes place on over 50 college campuses in the U.S. and at various job fairs and conferences. The CEO of Bristol-Myers Squibb is Charles A. Heimbold. Heimbold earned his B.A. at Villanova University(1954), his I.L.B at The University of Pennsylvania(1960), and his L.L.M at New York University(1965).

Investment Management Exam Paper

Sample (Easy/Medium level of difficulty) Midterm Exam, FINE441- Fall 2012 – Answer KEYs are attached in the end! THIS IS THE EXAMPLE OF MULTIPLE CHOICE QUESTIONS. THE NUMERICAL PROBLEMS WILL BE SIMILAR (NOT IDENTICAL) TO THE END OF CHAPTER PROBLEMS POSTED ON My Courses and Assignments 1. You purchased a share of stock for $20. One year later you received $1 as dividend and sold the share for $29. What was your holding period return? A) 45% B) 50% C) 5% D) 40% E) none of the above Use the following to answer questions 2-3: You have been given this probability distribution for the holding period return for XYZ stock:State of the Economy Boom Normal growth Recession 2. Probability . 30 . 50 . 20 HPR 18% 12% – 5% What is the expected holding period return for XYZ stock? 3. What is the expected standard deviation for XYZ stock? 4. A T-bill pays 6 percent rate of return. Would risk-averse investors invest in a risky portfolio that pays 12 percent with a probability of 40 perc ent or 2 percent with a probability of 60 percent? A) Yes, because they are rewarded with a risk premium. B) No, because they are not rewarded with a risk premium. C) No, because the risk premium is small. D) Cannot be determined.E) None of the above 5. In the mean-standard deviation graph, which one of the following statements is true regarding the indifference curve of a risk-averse investor? A) It is the locus of portfolios that have the same expected rates of return and different standard deviations. B) It is the locus of portfolios that have the same standard deviations and different rates of return. C) It is the locus of portfolios that offer the same utility according to returns and standard deviations. D) It connects portfolios that offer increasing utilities according to returns and standard deviations.E) none of the above. 6. Assume an investor with the following utility function: U = E(r) – 3/2(s2). To maximize her expected utility, she would choose the asset with an expected rate of return of _______ and a standard deviation of ________, respectively. A) 12%; 20% B) 10%; 15% C) 10%; 10% D) 8%; 10% E) none of the above Consider a risky portfolio, A, with an expected rate of return of 0. 15 and a standard deviation of 0. 15, that lies on a given indifference curve. Which one of the following portfolios might lie on the same indifference curve? A) E(r) = 0. 15; Standard deviation = 0. 20 B) E(r) = 0. 5; Standard deviation = 0. 10 C) E(r) = 0. 10; Standard deviation = 0. 10 D) E(r) = 0. 20; Standard deviation = 0. 15 E) E(r) = 0. 10; Standard deviation = 0. 20 An investor can choose to invest in T-bills paying 5% or a risky portfolio with end-of-year cash flow of $132,000. If the investor requires a risk premium of 5%, what would she be willing to pay for the risky portfolio? A) $100,000 B) $108,000 C) $120,000 D) $145,000 E) $147,000 7. 8. 9. You invest $100 in a risky asset with an expected rate of return of 0. 12 and a standard deviation of 0 . 15 and a T-bill with a rate of return of 0. 05.What percentages of your money must be invested in the risky asset and the risk-free asset, respectively, to form a portfolio with an expected return of 0. 09? A) 85% and 15% B) 75% and 25% C) 67% and 33% D) 57% and 43% E) cannot be determined 10. Beta is the measure of A) firm specific risk. B) diversifiable risk. C) market risk. D) unique risk. E) none of the above. 11. The efficient frontier of risky assets is A) the portion of the investment opportunity set that lies above the global minimum variance portfolio. B) the portion of the investment opportunity set that represents the highest standard deviations.C) the portion of the investment opportunity set which includes the portfolios with the lowest standard deviation. D) the set of portfolios that have zero standard deviation. E) both A and B are true. 12. Consider two perfectly negatively correlated risky securities A and B. A has an expected rate of return of 10% and a standard deviation of 16%. B has an expected rate of return of 8% and a standard deviation of 12%. 12. 1. The weights of A and B in the global minimum variance portfolio are _____ and _____, respectively. A) 0. 24; 0. 76 B) 0. 50; 0. 50 C) 0. 57; 0. 43 D) 0. 43; 0. 57 E) 0. 76; 0. 24 12. 2.The risk-free portfolio that can be formed with the two securities will earn _____ rate of return. A) 8. 5% B) 9. 0% C) 8. 9% D) 9. 9% E) none of the above 13. Portfolio theory as described by Markowitz is most concerned with: A) the elimination of systematic risk. B) the effect of diversification on portfolio risk. C) the identification of unsystematic risk. D) active portfolio management to enhance returns. E) none of the above. 14. According to the Capital Asset Pricing Model (CAPM) a well diversified portfolio's rate of return is a function of A) market risk B) unsystematic risk C) unique risk. D) reinvestment risk.E) none of the above. 15. The risk-free rate and the expected market rate of return are 0. 06 and 0. 12, respectively. According to the capital asset pricing model (CAPM), the expected rate of return on security X with a beta of 1. 2 is equal to A) 0. 06. B) 0. 144. C) 0. 12. D) 0. 132 E) 0. 18 16. Which statement is not true regarding the market portfolio? A) It includes all publicly traded financial assets. B) It lies on the efficient frontier. C) All securities in the market portfolio are held in proportion to their market values. D) It is the tangency point between the capital market line and the indifference curve.E) All of the above are true. 17. Your personal opinion is that security X has an expected rate of return of 0. 11. It has a beta of 1. 5. The risk-free rate is 0. 05 and the market expected rate of return is 0. 09. According to the Capital Asset Pricing Model, this security is A) underpriced. B) overpriced. C) fairly priced. D) cannot be determined from data provided. E) none of the above. 18. According to the index model, covariances among security pa irs are A) due to the influence of a single common factor represented by the market index return. B) extremely difficult to calculate. C) related to industry-specific events.D) usually positive. E) A and D 19. In the single-index model represented by the equation ri = E(ri) + ? iF + ei, the term ei represents A) the impact of unanticipated macroeconomic events on security i's return. B) the impact of unanticipated firm-specific events on security i's return. C) the impact of anticipated macroeconomic events on security i's return. D) the impact of anticipated firm-specific events on security i's return. E) the impact of changes in the market on security i's return. 20. Suppose two portfolios have the same average return, the same standard deviation of returns, but portfolio A has a higher beta than portfolio B.According to the Sharpe measure, the performance of portfolio A __________. A) is better than the performance of portfolio B B) is the same as the performance of portfolio B C ) is poorer than the performance of portfolio B D) cannot be measured as there is no data on the alpha of the portfolio E) none of the above is true. 21. An arbitrage opportunity exists if an investor can construct a __________ investment portfolio that will yield a sure profit. A) positive B) negative C) zero D) all of the above E) none of the above 22. Consider the one-factor APT. The variance of returns on the factor portfolio is 6%.The beta of a well-diversified portfolio on the factor is 1. 1. The variance of returns on the well-diversified portfolio is approximately __________. A) 3. 6% B) 6. 0% C) 7. 3% D) 10. 1% E) none of the above 23. Consider the single factor APT. Portfolio A has a beta of 0. 2 and an expected return of 13%. Portfolio B has a beta of 0. 4 and an expected return of 15%. The riskfree rate of return is 10%. If you wanted to take advantage of an arbitrage opportunity, you should take a short position in portfolio _________ and a long position in portfolio __ _______. A) A, A B) A, B C) B, A D) B, B E) none of the above 4. You sold short 300 shares of common stock at $55 per share. The initial margin is 60%. At what stock price would you receive a margin call if the maintenance margin is 35%? A. $51. 00 B. $65. 18 C. $35. 22 D. $40. 36 E. none of the above 25. You purchased 1000 shares of CSCO common stock on margin at $19 per share. Assume the initial margin is 50% and the maintenance margin is 30%. Below what stock price level would you get a margin call? Assume the stock pays no dividend; ignore interest on margin A. $12. 86 B. $15. 75 C. $19. 67 D. $13. 57 U = E(r) – (A/2)s2, where A = 4. . 26. Based on the utility function above, which investment would you select? A. 1 B. 2 C. 3 D. 4 E. cannot tell from the information given 27. Analysts may use regression analysis to estimate the index model for a stock. When doing so, the slope of the regression line is an estimate of ______________. A. the ? of the asset B. the ? of the as set C. the ? of the asset D. the ? of the asset E. the ? of the asset 28. Analysts may use regression analysis to estimate the index model for a stock. When doing so, the intercept of the regression line is an estimate of ______________.A. the ? of the asset B. the ? of the asset C. the ? of the asset D. the ? of the asset E. the ? of the asset 29. The index model for stock A has been estimated with the following result: RA= 0. 01 + 0. 9RM+ eA If ? M= 0. 25 and R2A= 0. 25, the standard deviation of return of stock A is _________. A. 0. 2025 B. 0. 2500 C. 0. 4500 D. 0. 8100 E. 0. 5460 Answer keys for the Sample Midterm, Fall 2012, FINE441. 1. 2. 3. 4. 5. 6. 7. 8. 9. 10. 11. 12. 1 12. 2 13. B 14. A 15. D 16. D 17. C 18. E 19. B 20. B 21. C 22. C 23. C 24. B 25. D 26. C 27. B 28. A 29. C B C E B C C C C D C A D C

The effects of Steroids Essay - 2189 Words

One of the hottest topics on the news recently has been steroid use by athletes. From talk radio to the best seller list to the Senate floor, the controversy has only grown during the 2006 baseball season, as Barry Bonds continues his quest to move right on past Babe Ruth and break Hank Aaron’s home run record. Although Bonds’ case has certainly attracted the most publicity, the issue is definitely not confined to baseball. The best-selling book â€Å"Game of Shadows† was written by two reporters who had spent months investigating top athletes from a variety of sports, including Olympians like track star Marion Jones. While it does focus extensively on Bonds, this meticulously researched bestseller also describes in detail how many other†¦show more content†¦The synthesis of testosterone was first achieved in 1930s Nazi Germany, but the initial discovery was greeted with indifference Over the next few decades, however, athletes and their coaches (especially bodybuilders) began to realize and covet the performance enhancing qualities of these drugs. (Wikipedia) During the 1950s, and at the 1952 Olympic games in particular, Americans were blown away by the power of their Russian and European competitors. It did not take American doctors long to realize that the â€Å"unnatural† performance of these athletes was just that. These bodybuilders and wrestlers had been given steroids in the form of synthetic testosterone. U.S. doctors scrambled to come up with a drug that with do the same for American athletes, and by the late 1950s they had succeeded in bringing such a drug to the market, known as Dianabol. It was the first of many. (Wikipedia) Whatever their intentions, these early pioneers in the field of steroid development did not realize the Pandora’s box they had opened, and they certainly did not realize that the demons thus released would continue to plague sports into the next century. Anabolic steroids definitely did what they were supposed to insofar as promoting muscle growth, resulting in a more powerful and bigger athlete. At first it seemed ideal, and use of these drugs was soon widespread. The East German women’s swim team circa the 1970s and 1980s is aShow MoreRelatedSteroids And Its Effects On The Body985 Words   |  4 PagesUnfortunately, the use of steroids can easily lead to many major health problems. According to the National Institute on Drug Abuse â€Å"Steroids abuse may lead to serious, even irreversible, health problems. 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