My analysis of finances, ETFs, and history.

Community Banks: Descriptions, Characteristics, and Outcomes

Dec. 7, 2017

Community bankers manage a small share of the banking system; nevertheless, they provide valuable services to farmers, consumers, and small business owners. Joe Ricketts, the founder of TD Ameritrade, thinks that community banks prosper with less regulation. They will provide entrepreneurial capital--leading to more jobs, improving the economy. Since well-run community banks provide unique products and services, continuation appears certain with probable help coming soon in the form of relief from regulatory overkill by Dodd-Frank regulations of capital requirements and mortgages. The following sections will review research findings under the general themes of descriptions, characteristics, and outcomes.

Credit Default Swaps: The Eye of the Credit Hurricane

Dec. 13, 2016

CDSs are aimed at insuring their holders against defaults by the borrowers. The risk of default is transferred from the holder of the debt instrument to the seller of the CDS.

Evidence of “Bennett Hypothesis”

Dec. 9, 2016

Americans now owe more on student loans than on credit cards. The total surpasses $1 trillion dollars with nearly 40% of those between the ages of 20 and 40 have student debt

Potential “Net Exports” for the United States Garnered from Free Trade Tempered by Efficient Trade Policies

Nov. 16, 2016

U.S. policymakers should enact what kind of trade policies without unduly lessening free trade’s contribution to economic growth? The candidates heatedly debate issues about global trade including the Trans-Pacific Partnership (TPP), NAFTA and domestic tariffs.

Private Equity Funds: Investment Enigma So Caveat Emptor

Dec. 18, 2015

Limited partners are not always rewarded with abnormal returns in private equity deals. Frequently general partners can charge substantial fees leading to net losses overtime. This leaves a burden on investors to know what is in a PE agreement before investing.

Price Behavior Around Ex-Dividend Day for ETFs

Oct. 23, 2015

ETFs exhibited some favorable attributes compared to the CEFs and matched equities. For example, ETFs had lower transaction costs and lower risks than equity CEFs, and much lower risks than matched stocks based on dividend yield and various transaction cost measures.

Hedge Fund Activism Creates Shareholder Value

Oct. 19, 2015

Activism in companies by hedge fund investors creates value for the shareholders of a corporation.

Financial Management: Bundling or Not?

July 19, 2015

Should investors bundle the components of financial management services? We discuss the merits of hiring advisors with specialized knowledge of more than one service domain.

Competition Among Incumbent ETFs, New ETFs, and Mutual Funds

July 12, 2015

Competition among etfs and mutual funds can be improved. It is noted that when mutual funds and etfs follow the same indexes returns are indistinguishable.

Investors Should Use Caution with Some Exchange Traded Funds

July 12, 2015

Investors should take caution with some exchange traded funds, ETFs.

Country Funds - Their ETF Characteristics

July 12, 2015

Since ETFs are derivative securities, their sponsors have distinct choices to make about the selection of the underlying indexes upon which to base theirl ETFs

Abnormal Returns with Momentum - Contrarian Strategies using ETFs

July 12, 2015

Momentum and Contrarian strategies constitute anomalies used by investors seeking abnormal returns. Abnormal returns range from 8.4 to 13.5 percent over 4 to 39 week holding periods.

Commonality in the Mispricing of ETFs

July 12, 2015

Research verifies the existence of commonality in the mispricing of U.S ETFs

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