ih v SAPM+ Sc avele?] oo ige Security Avalisin ecu? aud ort folre ‘ ~ ps _ p Fete neat Unit -T -# ‘ Inve st MENT Co at ~ Trvestwent Comes under, Kavos ost Tnvestment objectives * TE Srould “Fave [ selene] (e * RER C Hoe to meomme tu fisk ) * Hedging agaust Intlatior. * ~ Hanuiatty Sajety (Pxserk ane Sapsliy yy 4 y¥ NsteI2E | Measurement ef Rk and expected refurmi Pp er ® Currently a Shaw of. x2 company fo hs e ° ° ~*~ trocling at 120. dn investor whe is intersted Sw | & twest of tha Company expects tat a ~ . . ictpates RS tompany ull pay. Bs as divident avd outta Mt gta that Tu low price oO, tH fr x upto Rb. IIs. caleulatr tm ee ioe So: rite - A ted dinidevd + Povecaste | ( Rate of yetumn = “forecas took prive | . ; tnitil tnvestuent = Balt \ forvauls, 120 " . / = OS a / 2 ber: || Gleaation % peinbbia’ excpected Ferurn) : C Se fo CCxpected rent Ze £ x pen) aan __* NN. a ‘> — Afoninirtn s posible | ay [ ] return | probabitity hapa) | a) pln) | : ea ————— | : Pury £30 3 pio | to ecu) ee } 2 | 5o ae | | POY 2 90.0 al bo Ore | pix) 26-0 & “1D blo popoe' fd PHY ap 1 met {2425 Delo. 5) ee ago | Ae Qolulatin genus ot m % Btavdord deviahou | possi ble ~ . : | yetumn eon iy | peviatton. Saruad a Ot. -%) | deutation eee eee | RAB 6 =e x1) At fe x =Q [eases | 24 do pad es Wo AG =-8 | i | 9.30 * | | jgo-4B=2 |) 60 POY L950 | Oyo | 6 lbo-ug cia ° PUY 26 ot 10 pun) 3+ so-482 22 ey — he olde Aea EEN EERE Ee ee Navvante 2 wb. Vert Soruave wot varviauee Ye Gfaudard dewiahin 8ta = Qvaranee . hd Meodad = Wu = (OTT \e pw |sta = wy we w me ee aye few ‘pes Oh vee artaite) we [Oe Astametic rik ( Bix nel fo momere the anf) wy * Unsytawalic risk oe VAL i ale an Lo Ab fh . " rear . Measurement mk Euptowetie wok woth the % |help B: | |\* v fool whieh helps au ‘investor \* pea . eae flectuo due ey the Company f Chm sng oo ty compar a * 5 the market tee prot’ | pale for Bp: watery +p ‘, ty measwed with te numerical Taye nen #2 824 value 4 aN | fs " eb ae When BO oO tock tb move Tha our Tat we meas Aloe & bigtly Ailey. bak Ger oe 8D Lb nn Laghver yefwus . help ove “it weaws that the BEF (4. is x a when "| fon . . =i." aml preduas [eH Falun - see dey ece mee! r oni ab b 7 fww B forma: a fm loel eth. ( fe inti >) 6-H Cf Boe Verte a Hin = Coral ogy \ blw Aston of fhe efock ci) fold Actos “5 moaket ink x (, te Stok © i me woaket wolen Gis Btd of Shook Gin = &td * trax feet “ler | Frxawple i | Momthly Acton of the ato | monthly fehrn 6 Bie wattoval) uolese for | 7 he perteel ® a paouThs pMonth | yeturn Sh ] _ ate Stock: DHS 0 AH Sh -18-92 - 6-61 bss Qo 2-43 “5. 2s ek ITC ancl. Me - an — — _ + Ss a to AF wp a gras 2313 32.83 =Covelation avalysia( 2) 1° Pre - Yih C Ve NExy - (sx) Cey) {newest fanart fois ince L \ Petts . Yes) Kem) Y= ye sey V we ; | Stock. — Cer) X cam) yr > xy Fou 8 nn Tie —— 0 BE saa | OTSA H8T yal 5-33 ° | 26-4 Fy. “TES |B | Gyo. | BIE ~1@-92 “ye bt | | +3574 [| 214-$ 216-98 BET | LSB | ynye (aa. | -lose lac abs Wel lqos.46 | ggot- | toss | | | ae | 7" | 00 2b | lo2-2 | 29% oth | gst | ott | 2-22 5.25 peat (OTS 0-940. | ~S-09. | ous fone Abort [b8-99-, 228-94 23.18 tae |S BAF. Bose2. Atdty-O8 | | | 3-82 20-15 lo1T-g- bbs0- BENS 2 (11-64 - 49-82. 9124-54- 1432.01 Zibo.ts-CC LE—_— = ANbasg eq — youTa. bs 41 a |— penis y22 [st = weag Staudare avelovel deyiativn oh BSE vetunms F Om « N Sx? ~ (54)? {| N2 - 49-84 > = (2 £14 32-bo7 - (ves2bet ) J we ee Se au B2-0324 ITAL 284 = . ce | Cae on] Variaute of warket: Cm 2 NEAR -UER)* N2 = (2k 14 B-bb 1 ~ Lug ge)> toe 2 > (o2-tb.; » Vantous categories °t nek. ee ee a credit Abe Py 9 leew _ fparuiolikty AEE witht o operattioval Abbe- ° — giteust aate Aw ~ — anklation risk 7 Systewai ¢ yk = s) Shages (2h etoremie busines We. Lamusion ca Ptpveved ¢ - peak ~( Recou ery) Con acho (Became ) = Troug bk A) Chyechues of metus & - t tr\hdiree wo Tlehent Hak Gef aces ‘|ol wh 23- vr -% hfe a Fwd amentay avalysts /! 0 Hotuidity Ralio < ae ets ad oth 2) Tumover jalio £ t a heverage rad. 4) Prope Mayqin wate | | sare - 55 bK-8 oh = 9” (12-28 de (114-4) | 7 20359-9 | ~ 2IT STS - ly 2 0-135 positively loyrelate]. ane Frewdood deviation a me Aotinns: NZ (Sp ere | {a | fe 124.97 - ( stainget )> wawvg du auetal AXcttomonts « nyse tw Aetall Abort cle walle a tt fowe ty Nodtous! |") Ynflotion wy tyterere Aales yy Goveirwent yovewte ex poviture avd difis, Ww Forbavye rate a ntact vi) Mipuapor: | politica! reales Wc ic aud van)S re EES yw? Uwrk 1 » Jt \ RAT hat 2) 3) | tl . | WOE thu (rowel dlatenseudt T Sheva aud poeta aul ysts las | / ice to Panu Aah NS | Company auatysiss MMW uy sole * Aualysis ok furancial Alakewents \ Lowuility reve j 2) Leverage yetto ; 9 Protitabi lity rato ha) Propitabi lity sat ye c) profi tabi ity yohos jelate t cout shams | b) Overall progitabilty att (4 Ruow ta ean ty CY ) 1 ypvey shes lated fo “nwestmewtEOS whiol23 yev ' NISM unit -¥ Zz Shar pe yalio and trey ners ratte: xp Yb Sharpe yatio = a . -7¥ Treynor % yal = we Fr -goweloe by vain, alyo called Ab FRM YY - Wak fred efor - fo vavia bitty * ati. Th Mis lke YOUD4 ysttt be wranatorecl by Shox fe ti ov Yue premium ae Roane olercia lieu *Rfona tex fs Np= vealie yeture of a. portfolio She rsh be pati of Acfowr- Gp = Sfouelord caviatton 0] pertgel veh Vo~ plowsrinas Shope i) GT Naudarct deviahou Akanpe- It Fund veturn (7) Stavdard ( B Gewatout a A (ay 4B 7. 0-7 z eA ds /. [8 anbet wae lt is/ Qov I-6Q 3 FC Train Saks 3 chee *Y Jack thaws > aa abe brew a = rs On mrolatriy date (_Aamancls fo lant fate / wears Qu este ta belp y petted rafd-) Soin aa Sharpe ratio * ford A. — Shorpe aatis = ae Sp . > w-T Bp - me aT Ono. ao Aetor ding fo Shawe fatin tu Leagleaste gott® ‘e 2 &. o- ; Mie See Ge Tren Aatto i he 1g-7 > 1-14 2 a _ ze lint. 4.23.(lw. : writ Mav koust , ‘ — IER.” Model, theory.’ v Porttolis election treorg Portip tts Expected rerum ob 1-8 aa = aa g-t} tet ] AB ce (ars ABs ) "8 12-8 art ts 124 A standard» és ratio, As S-3 asG Sar nk Wp o tSnee ee He Tewestment a . , HOn Pecsui ae @, < Yeumeut % Sales B and without B wt wut “Tt NAC Prima, HY Markey Aud — Setoudany wovlect uit -ay Muvdomentar aualyst P — Etovomic — aualysis pats - Wdawlnar 1 poblewen: s Comnpetatwe " Divident duount jade) B pyovlems on valuation of oud: Atack aud boud : _ ya Lua tos art = ty ~ Tethuical amatysis — Raudow walk theory e ~ pow theory OL , re Adficient wae ket hype thes's y ; wg uuitt -¥. of ye” protielto wanagemens proum = Arawmer alto, 9 P - Seork rato = genus patio (~ Fioblem. - CAP )unite 9 A)wrte a ghort uote on Various Welhieds of 2 floatg ve UsUes- x s) pacurs tue DIE puwiny yrarret: + gerd Morba, © 6) yovat dp ‘you Wan | by boole uildwa % PARI-B . ") Eaplatn te vole of prrany ” ymavkeek > 2) Dibtus te veguigtou % pornany monet 3) ylat do you won by * Aerovddsyy won bet auc expla tte {uvetion of Aipek sore: -Rnobauge . varius Aide exclanges th Suda or 4) pisces ppt a dha WO Ow Bac, AIRC, “ OTCEY, L8e 5) yshat oR fiedlivg Aystem wy Stock exehauie bit Rola: awd janet a \ my S Eayplaua Ma detat\ a SEBI.vuuttt =H y write q - Pret ! : Alort uote on etouswmit avalysts, wes 2 ™ 4 avaltysis iu aud tourpany avalysts- o@ | ore Fapaty te 8 lie ' & ; wewsisiy — Ulecycle da dereR\ 5) Wt AW various feckudaaes of — toecartity Wo . 5 2) WOK ox tl vonious —writliods of oud valuation 6) DCU aivideuk “dtoune wieder tr astetls- ub &) Fanny — warttiplier approaches, uk - 1) wat do yor waeam by dow “theory oud esplatr Ow basis pamnerpis oh Ap tweory- 2) vortte a Awort, uote OM yaudown walle Terry: ® Lor) Ebjeront — wonket tauypottaests foo ewe ort to i ooe _ TARoLY sy“ youle ai Alovt Wd ov attivrt NI xa ~~ ty oO War ") Ferplatu the VaNtoUs pe oy vars wh kK if. pattem what doe wear PY fred avd Krendl yoyotsals: ; yore ta detail aout Ma yotrowart ca gud Caton ) utual Aud cab ‘Tate, vobat do ie we aA by short S mak’, what doe you odd lat sem tuclon& gr CAPM Mpdel. Capy - . . PM Casital arse pricing Viedel. R= RE BL Rm- RE) Rh = Pbk free vefuns ) formula . Rm = market yeturn CAPA doy Ercpeated — weturn: = problevn * There ave two securities, Agcuaity p ard Aavesttty Q. Me B of ple ot, the Bo Bo “ub, Pick free retmn= by. , then Rm = sv Expected yet vw} both Re AECUTHE - caleriate “xt Ri PL BCRm- Rb) a ft ot (ws- 8) cs he bd J Pvalue Ry = w-% Ys eb be wb LS -b) = bt tet = oo) Rvalue ki xed rerum ¥ CARIN alse catculated — tht one if CARA yoy exntraated teh ™ RE Pepe Ree pe Ppot Yl Pro Pot PL fo Po = current market pace y one YOu Pre Fenwaed raver pace HE . vee 1 i= Amictpated Ardent Hvom thu following oxawsle- hoeurity Extimated P — yorum A Roy: | ack B ON | \sh | c | \By. he D \sv b-4 E \sv 1 F 127 o-1# bree beiun for an Bw ton” aud +o be Sd. Use Germ colethey ane seuanites axe Ce Loud Wey ae Worker yorum «& eapected, Capen model to determine over ett Prt uvder Get, bebe —eet pally Orcte -prite, Ercpected yotuww: R= PEA BC Rme PL) = wa be V8 ©) = ir (2-8 D. = 22-87: RE = wa by (re-to) Bo = 9.27. Ree toar-2 Cle-to) ez toby prc [ot OAL 1S 10) p: i127 Ri jo Et lig 10) Bye ie” m=renvrate Security, exported wou’ A 92-Q 30 2 Oe2 a | Cc, tak Ag P \te \s E 1¢-3 is” F tek 2 The — _ eute . — — i tex order — prise F when extirvrated return «axe MONE than ‘the Cxpetted yeturn. the toch ts aysumed 70 be : Uuder — price - y when estintated yetun ww tes Than tly exp ected yen: The Atock & Orley price: é y When toth the yeturn Ove More ov l% eovug) ¢ the och fm et to be teary price - ofSeow / 2 ede Ectirrated | ——-__} return: over . 22-8 20 - ae B undew. price 2 ne aa vydex pr @ c b 19-6 1S DNA parte e At2 \s Bueyipst \g-@ w orenipyt ce F tb \2 pron piree , Security BA pay, devident of Re @ Ree ZAI — towomtty ak BBB. THE peowdty excpertedt ak the vd of Xt year, to Ae at RE Ws jig. the vise free The p of @ serunity é& yorurn % By awl worket & enpoctecl yo que tro venta of 12% wd ous wovetey tor quen aceuntty ts corey priced: fol: Cap expected yETUNN. - 6x WS (12-8) 2 10.05 7] LRtCAPM estimated = yeturn” Pr Pot Dv i hones Ris Pe- = Jor Be * 85 _ “t BS . ame Poth tne yatues ave. Uaevall aan ) ao, Te adsly priced . Jenevn — Palto To amaryse OAL wudvak suvel products Shope — Pato ( aeeyners rate Jenson ya tio wmystamatit stawmalré yu Rok. ‘ Goudarcl ap. oP aS ag = bp . 2 CE) dowahow ot Pe Pek SR > a Sg ? fr fost I tt Sp— peter tu portfe \wo y ~ ¥ y yak fu yehansemen Yatton: Jenson rats oy Jeneon measure & ako Called =a abycorentia\ veto wel — Actual — Retwn cre Moe - Etpecte| Reavin. cues BE tua! Las p= Pps ley) ps oblem « “Bp. getuan of portiplts Epp - Pepe gettin & qrere AW Hw yrutual furd: A and Bs whe actua\ © & yelum of fond AB WT lav. Te Bw fund & \-3. The aw tw actual yoru of, jure 1 ‘. wb ot avd te pop ant bs _ppoautt te ST rroreet yet tora tee preduty © on t ys WS and yak {yeu youn yy. OS " engi ere uw 4h and Saouatyy aa A NON oa 4 yar wages Aol: a . Ib. iat yoct ed eter rie RAt BL Rm RL) 4’) ‘) Ae qe OTIS 7LG Ht 20 ores 30 92?A ~2b. bth -" \r1 -\ \ 1y tab 4 Sb! 29 gu) Zu usb — a|spt-es ays gare 3g-8- \2- \2:1 ONS” Oto: ary. 90-25 \b8-2° (13-4 spt 25°