BU473 Study Guide - X86 Instruction Listings, Liquigas, Automobilclub Von Deutschland

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11 Feb 2013
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Top-down approach: analyze economy, then industry, then firm. Defensive stocks unhurt by bus. cycle downside taa: tactical asset allocation takes advantage of mkt timing skills (st dev from lt asst mixes) Technical analysis: unconcerned w/ underlying econ vars affting firms/mkt. Gdp = g+c + i + (x m) = gov"t spnd + consmr spend + bus invst + (cdn ex im) Normal unemplymt frictional; structural unemp natural umemp rate; cyclical. Bus cyc: expansion = durabls, peak=nat resurce+energy, contrctin=defensive ind, trough=cap gds soft landing =econ growth slows but not neg leading ind: stocks,money supp, wrk week, sales of consumer durables extreme times, econ lead mkt, otrwise,mkt lead. Coincident + lagging indicators interest rate determinants: inf rate, xchg rate, gov"t deficits, boc, default risk of the borrower . Ceri =cdn effect. xchg rte index is trade-weighted msre of xchg rte. P/e tends to b high whn inf and int rates are low.

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