Stock Valuation Essay Example for Free

Stock Valuation Essay Invesco mortgage a Real-Estate investment trust company is a company that provides adjusted risk, to its customers primarily through dividend payout and secondly through capital appreciation. IVR isn’t the company seeking a favorable positive image in the community. Ivrs sole purpose is to generate profit and distribute it to the shareholder. As a mortgage specialist, Invesco has been well positioned to capitalize on the rebound in home values, rising mortgage volumes and lower delinquency rates. That has analysts looking for full-year earnings of $2 a share this year. With a price-to-earnings (P/E) ratio of 8 times, below its peer average of 10, Invesco has value in addition to a serious yield of 13%. Upon further analysis of IVR and the company’s financial statements one can view a hybrid financial culture that some conventional ratio analysis doesn’t lend itself too. For instance generally one major ratio that can identify a company’s current capability to meet all of its financial obligations is the acid ratio test. IVR has an Acid ratio test of 1. 7. A company’s profit before depreciation and amortization to current liabilities indicates the companies’ ability to satisfy its short term obligations, the higher the PDACL ratio the better. PDACL ratio can be calculated by taking the company’s profit before depreciation and amortization divided by the company’s current liabilities. For Ivr this means $339,885 divided by 3,541 = . 95 or 95%. IVR net profit margin is 856% the net profit margin is calculated by taking net income divided by sales then multiplying the answer by 100. The net profit margin is best measured year over year and compared to industry competitors in order to identify a company’s efficiency as compared to other market participators. A recent article appeared in motley fool By (Adnan Khan – June 4, 2013). This article discussed Reit and what the forecast is for the industries market. According to Khan Hybrid business models stand the best chance of succeeding. A pick he viewed favorably is TWO. Yes TWO is truly the companies’ symbol on the exchange. Now let’s talk financials Two has a market capitalization of 1. 6 billion dollars. The current acid ratio for TWO is 1. 27 . Two has a PADCL ratio of 7. 56 percent which is a pretty high margin of safety meaning two could be a safe investment. One significant area of strength for IVR over TWO is the Operating cash flows to current liabilities ratio. Currently TWO has a ratio of . 9%. This ratio illustrates a company’s ability to create a profit off current cash flow and the ability to meet current debt obligations with current cash flows. A low value of OFCL identifies slightly higher risk.

The Importance Of Studying Money Finance Essay

The Importance Of Studying Money Finance Essay Money helps us in avoiding the double coincidence of needs as required by a barter economy and by enabling specialization. However, the money supply has a lot of effects on the well being of its users. Some of these effects can be summarized as inflation, wealth creation/destruction etc. Thus it is very important to study money. Banking and financial markets are intermediaries that help provide a common platform, or a market place, for all individuals to inter act with each other. Banking and financial markets provide liquidity to the system and helps 2 individuals with exactly opposite needs meet on a common platform. Without an apt knowledge of the banking and financial markets, it is impossible to understand how changes around us would affect our wealth and in which way can we best utilize our wealth and help it grow and accumulate. Discuss the advantages and disadvantages of using financial intermediaries. Financial intermediaries help us by bringing together those entities with surplus funds and willingness to lend, with those with a shortage of funds and willingness to borrow. The benefits of such intermediation include; maturity and risk transformation, lesser transaction costs due to higher liquidity, better bargaining power due to alternative options etc. The function of financial intermediaries is to provide these advantages and make a profit while raising the overall efficiency of the economy. The disadvantage of financial intermediation is that such intermediation may be expensive on occasions. As seen in the recent economic crisis, financial intermediaries may also falter on exploiting structural loopholes in greed of higher profits in the short term while posing a threat to the economic stability in the long term. The given computer entry tells us that the Northwestern Energy company has issued bonds on March 15, 2001, with a principal value of $100,000, expiring in 20 years on March 15, 2021 and carrying an interest rate of 6% payable semi-annually. In the event of interest rates rising for new bonds issued in to the market for the same quality, it would imply that the bonds issued by Northwestern will be relatively expensive and thus less attractive than the newer bonds. Therefore, the value of the Bonds issued by Northwestern will have to fall to an extent that the yield on the bond becomes equal to the yield of the newer bonds issued. In making this inference we are assuming that the yield and interest rates are same. Friedmanà ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒ ¢Ã¢â‚¬Å¾Ã‚ ¢s belief that when Fed lowers interest rates, they fall but do not stay lower for very long, reiterates his belief that in a free economy, the market always sets up at an equilibrium. Even though, there may be interventions by monetary authorities desired to accomplish certain goals and objectives, such intervention only leads to a temporary imbalance in the demand and supply attributes and over a longer period of time, the market resets itself to equilibrium. In the graph above, we assume that Dd is the initial money demand curve and Ss is the initial money supply curve. Thus, at equilibrium i* is the market determined interest rate and Q* the money supply and demand. Now, if the central bank authorities bring this interest rate down to say ia, a new but short lived equilibrium is formed due to the shift of the supply curve from Ss to Ssa. At this equilibrium, the demand curve has not yet responded to the change in Fed rates. Now as per Friedman, due to a lower interest rate, the liquidity in the market increases, thereby pushing the income of individuals northward. With higher level of incomes, inflation sets in due to a shift in the demand curve from Dd to Dda and the price levels begin to rise to offset the increase in income. Since inflation is a component of interest rates, the interest rates also rise proportionately in order to reset the market at another equilibrium where, in the example above, i* is the equilibrium interest rate and Q*a is the equilibrium money supply and demand. A company that has never received a bond rating will have to contact the rating agency, say Fitch, first. Once the agency is contacted, a credit analyst collates and gathers information required to determine risk to investors who might own or buy the bond. The kinds of information that are to be dispersed are background and history of the company/entity, industry trends, management vision/mission, experience, track record, and attitude towards risk, organization structure etc. He then analyzes the information on hand and develops a conclusion in committee on the appropriate rating. The analyst may also seek explanations and clarifications in to business procedures and audit some financial statements. After the rating is finalized, the agency monitors the security on an ongoing basis. In 2009, the Fed and the treasury were facing the most difficult times they have had to face since the great depression. On 19th March 2009, Fed decided to expand its balance sheet by a US$1,000,000,000,000. The Fed announced that it would inject up to $750 billion in Agency MBS that year. This was over and above an earlier commitment of $500 billion. Fed also announced the buying in to Agency bonds for $200 billion. It further declared that it would purchase up to $300 billion of longer dated Treasuries over the term. So, what was the fear behind such drastic measures? Answer is deflation. Earlier that year in January, Fed took the historic step of cutting the benchmark interest rate to as low as zero. They also called for greater government spending to help revive the economy. Such drastic measures were the result of the failure of Fed efforts like record rate cuts, emergency lending programs and backstops for debt markets, to halt the crisis.

Searching for Assata :: essays research papers

Searching for Assata I thought long and hard about the type of creative project I wanted to do for my Gender & Society class. This project is a really cool one, in which gender and the things I learned in class would be combined. At first, I was going to interview four teenage African-American girls about their experiences about being Black and female in this society. Due to technical difficulties (raggedly camcorder), I was not able to complete that task. Then I thought about doing a feminist critique of Scarlett O’Hara, the main character from â€Å"Gone with the Wind† but that type of thing is for a ten-page paper, not a creative project. Finally, I decided to do a collage depicting the life of Assata Shakur, one of the most wrongly convicted individuals in U.S. history. Her story is a sad chapter in American history, in which the color of her skin, social class, political affiliation, and gender played a role in her subsequent exile from her homeland. On May 2 1973, racial prejudice would change the life of Assata Shakur forever. An incident of what would now be labeled "racial profiling" takes place on the New Jersey Turnpike. Ms. Shakur, an active participant in the Black Liberation Army (BLA), was traveling with friends, Malik Zayad Shakur and Sundiata Acoli when state troopers stopped them, reportedly because of a broken headlight. A trooper explained that they were "suspicious" because they had Vermont license plates. The three were made to exit the car with their hands up. All of a sudden, shots were fired. When it was all over, state trooper Werner Foerster and Malik Shakur were killed. Ms. Shakur and Mr. Acoli were charged with the deaths of state trooper Foerster and Zayd Malik Shakur. While held in jail, she was shackled and chained to a bed, with bullet wounds still in her chest. She was also forced to undergo the jabs of shotgun butts of the New Jersey State troopers and heard their voices shouting Nazi slogans an d threats to her life. In the history of New Jersey state, no female prisoner had ever been treated as she, confined to a men’s prison, under twenty-four hour surveillance of her most intimate bodily functions. Ms. Shakur and Mr. Acoli were eventually sentenced to 30 years plus life. Although the verdict was no surprise since it was an all-White jury who convicted them, many questioned the racial injustice of the trial because it was riddled with many human rights violations and constitutional errors.

Vegetarianism :: Healthy Lifestyle Essay

Vegetarianism Vegetarianism is the limitation of ones diet to only vegetables. Vegetarianism has been around for centuries, but recently we have seen the eruption of a more militant vegetarianism that is inspired by the animal "rights" movement. Today, vegetarian activists are throwing pies at Ronald McDonald and the Pork Queen, scrawling "meat is murder" in prominent locations, committing terrorist acts of arson, and waging media campaigns equating meat consumption with cannibalism. Vegetarians are, on the average, far healthier than those who consume the typical Western diet, and enjoy a lower incidence of many chronic diseases. However, it has not been proven that one must eliminate meat from one's diet in order to be healthy. It has been aptly demonstrated that the typical Western diet contains too much fat. Eliminating meat from the diet is one way to reduce fat, but it is not the only way. Vegetarian diets have also been shown to increase the risk for nutrient deficiencies. Children are particularly vulnerable and can lead to growth problems. Vegetarian children often fail to grow as well as their omnivorous counterparts despite protein intakes. Ecological arguments against omnivorous and carnivorous eating are little more than an attempt by those from the less popular animal "rights" movement to ride the coattails of the more popular environmental movement. In some cases, warnings of impending environmental cataclysm are used to advance an ethical agenda. However, arguments to the effect that eating meat is "destroying the planet" overlook that the planet has not yet been destroyed despite millions of years of omnivorous and carnivorous eating by millions of individuals from a multitude of species. The Second Law of Thermodynamics dictates that some energy will be inevitably lost as one moves up the food web. Therefore, arguments about how it takes X pounds of plant protein to generate Y pounds of meat have a sound theoretical basis. However, these arguments are often overstated. These arguments falsely assume that pork chops and steak are the only products of animal agriculture. They falsely presume that a pound of animal foodstuffs is nutritionally and energetically equivalent to a pound of plant foodstuffs. These arguments also ignore the energy content and opportunity cost of replacing animal by-products, which is considerable. Even the animal's excrement is a valuable resource. Certain animal products, such as fetal calf serum, collagen and laminin are crucial for medical research using cell cultures, and have no available alternatives.

Advertising, Food and Children :: Expository Exemplification Essays

Advertising, Food and Children "Peanut, peanut butter and jelly." Advertising has an impact on its audience. From songs to logos to characters, food product advertisers must keep in mind their audiences. Competition is the force which causes advertisers to target children. Children are targeted through the use of cute phrases, animated characters, and toys in these competitive advertisements. Many types of food have a phrase associated with them. Commercials use these phrases to implant their product into the audiences memory. Goldfish crackers are an example of one these products. "I love the fishes `cause their so delicious..." This is the theme to a well known commercial which advertises Pepperigde Farm goldfish crackers. Children sing the phrase over and over throughout the entirety of the commercial. By the time the commercial ends the line and product are inevitably stuck in a persons mind. The commercial says "... and my mom says that's okay", which implies to children that their parents will allow them to eat this snack. Another example of a product with an addicting phrase is Oscar Meyer bologna. "My bologna has a first name its O-S-C-A-R..." Instead of this song selling the product itself, its aim is to sell the brand. The Oscar Meyer company has had auditions for the next Oscar Meyer child. Again, their goal is to sell their brand. The company also has another product with a catchy song, Oscar Meyer hot dogs. "I wish I were an Oscar Meyer wiener..." The stress of this phrase is also the brand. Oscar Meyer commercials use children to sing these songs and like the goldfish commercial, the song has been imprinted into a persons memory be the end of the commercial. Both companies goal is to sell their product. By targeting children, whole families are then targeted. Competition between companies with similar products, is the reason phrases are used. If one company can create a phrase that everyone will know and remember, they are one step closer to winning the race. Animated characters are also a medium used to target children. Animation has been the way which companies from Disney to Cartoon Network, capture the attention of children everywhere. Tony the Tiger is the spokesperson for Kellogg's frosted flakes.

Improving Classroom Behavior and Social Skills Essay

Improving classroom behavior and social skills is pertaining to an over-all impact on the child’s learning abilities. This strategy is particularly aimed when there are students who have disabilities. The teacher directly affects children’s appropriateness and inappropriateness and the classroom set up. It is a must to gauge the structure and reliability of daily activities and the rules of conduct set by teachers in assessing classroom variables. Proactive measures or guidelines have been established in sustaining an atmosphere of positive learning and appropriate behavior for children free or with disabilities. â€Å"Interventions delivered in a regular classroom have the greatest potential to enhance prosocial competencies by altering the classroom social system to support all students, including rejected and isolated students, students with disabilities, and low-performing students, all of whom are at risk for social difficulties† (Rathvon, 2008, p. 321). The Council for Exceptional Children has founded the eight behavioral management measures: Arrange classroom to meet social/emotional needs as well as instructional and organizational needs; adjust schedules to provide a balance between highly structured periods and more stimulating activities; establish a group behavior management plan that incorporates individual needs; Provide direct instruction, programmed learning, and precision teaching lessons; provide group-building opportunities that move students from an â€Å"I† to a â€Å"We† orientation; be aware of how individual needs affect group dynamics; attend to students’ physiological as well as psychological needs; much of the acting out behavior reflects a need for power or attention; and attempt to give as little emotional response as possible to inappropriate behavior (Council for Exceptional Children 2006-2007). The classroom, consists of twenty students, four of them have impairments, is organized but still conducive for playful learning. I have observed the following routines: drawing time, playtime with materials (e.g clay), reading time with teacher and a short recitation after that. These routines are very functional since they don’t only learn skills like creativity and imagination, they also get to mingle and interact with fellow students and unconsciously learn and brainstorm their thoughts and ideas. The four most challenging behaviors during my observation are inability to focus or display of inadequacy, petty fights between pupils, some inappropriate behaviors like noise, which is unavoidable at their age, and loitering around the classroom. The teacher has handled everything with grace. Yelling was never an alternative for her. Though her voice was not as soothing as it should be, she managed to pull out superiority in the softest possible way. She also gives rewards when pupils get satisfactory remarks and this is one of the best strategies at this stage of learning. Noise is one of the most challenging behaviors she had to face. Since children at this stage are very hard to control, judgment can never be made in accordance. But overall, her behavioral techniques and strategies are effective. The students had used the typical verbal and non verbal expressions most of us do. Nodding of head and hand gestures as non verbal communications and answering by yes or no and brief explanation during recitation as verbal. When the teacher says something that they totally agree on, students tend to nod their head repetitively and it goes as well by saying yes or no when the teacher asks them. As preschoolers, their thoughts are not yet firmly constructed. I would prioritize using a soothing tone of voice as a behavioral management technique. This is one of the most significant techniques the teacher overlooked. Reassurances or giving out positive comments is also an important way of appreciating the students’ works. However, criticisms should be given constructively and not degradingly. Well organization of classroom, like cleanliness and things properly placed on their shelves, should also be observed all the time for safety policies. Rewards and punishment is a very effective behavioral management. When a student gets a remark higher than the average, the teacher gives rewards, otherwise, punishment is given. But most of the times, punishment are just given in forms of assignments or projects. References Kelley, M. K., Noell, G., & Reitman, D. (2003). Practitioners Guide to empirically based   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   measures of school behaviour. 18, Rathvon, R. (Ed.) (2008). Effective School Interventions. Guilford Press. Council for Exceptional Children. 2006-2007.

Computerized Library Management System Chapter2 Essay

Chapter 2 Review of related literature Related Literature Foreign According to Robson (2001), usability is a key requirement for users, says Elisabeth Robson, Product manager for Online Computer Library Center. The catalogue has become a way to pull together disparate resources, including commercial resources and web links. management systems also allow circulation, including check in/check out and enable libraries to purchase materials and track where they are. According to Chad (2009), consulting is at a major point of change in the wider information economy within which library systems form part of a larger whole. He was writing in a briefing paper about the study in library management systems. This studyexamined the systems used in higher-education libraries across the UK and came up with some significant observations and recommendations. It noted that the LMS market in UK higher education is already mature and that four main vendors ( Ex Libris, Innovative Sirsi Dynix and Talis) have almost 90 per cent of the market. This market maturity means, according to the study authors, that the benefits to libraries of changing LMS provider are limited. Library users expect to find everything together says Stephen Abram, vice president for innovation at Sirsi Dynix, the leading provider of software solutions and associated services for libraries. According to her traditionally, the library management system or integrated library system (ILS) was responsible for running libraries efficiently and effectively. Over the last few years, the role of the ILS has been expanding from meeting library needs to delivering user experience. Local According to Eden (2011), views that most libraries are forced to work with fewer staff because of the having a more improved and modernized system for their library. According also to the study, the library administration need to emphasize to their staff that the organization has a vested interest in providing them with the tools and training they need to assist the organization in the new information marketplace. These may include search engines, circulation systems, and the online public access catalog. According to Lopez (2002), University of the Philippines Mindanao when UP in Mindanao accepted its first batch of students in 1996, the Main Library collection was integrated with the core collection of the School of Management (SOM) Library at the Stanfilco Bldg., Ladislawa Avenue, Buhangin, Davao City. The Filipiniana and General References were housed together with the College of Arts and Sciences (CAS) collection in Room 2 of the Philippine Coconut Authority. In the Second Semester AY 1996-1997,the CAS Library moved to its main campus in Bago Oshiro. Upon the recognition of UP in Mindanao by the Board of Regents (BOR) as a constituent unit (CU) of the UP System, the CAS was split into two (2), namely: College of Humanities and Social Cost Benefits Analysis between the Existing System and the Proposed BotolanCommunity College Library System Particulars PC Express Desktop Pentium Packagewith Canon IP2770 Printer 16,500.00Windows XP Professional 5,550.00Visual Basic 6.0 5,000.00Botolan Community College Computerized Library System 10,000.00 37,050.00 Salary of one (1) Staff 12 x 5,500.00 66,000.00 Handling the Existing SystemSavings (PHP) 29,000.00 % of Savings 43.93% Source: Villman Computers(www.villman.com), PC Express (www.pcexpress.com.ph)Source:http://studentdiscounts.com/microsoftvisualstudioprofessional2010-installsonupto2computers.aspx 63 Appendix ISample Output 64 Figure 1. Log-InFigure 2. Main Menu PRO