Setanta Asset Management
INVESTMENT CHARTER
Value is more than a number
1
What is Value Investing?
The origins of Value Investing date back to the 1920s at a time most investors were guided by specula
Present a critique of the Capital Asset Pricing Model, and hence discuss the claim that beta
is dead in the context of empirical models of assets returns.
Rhys Frake 0937708
Word count: 2997
1|P a ge
Notes To The Book Margin Of Safety
Author: Seth Klarman
1991
Prepared by: Ronald R. Redfield, CPA, PFS
According to www.wikipedia.com "Margin of Safety Risk-Averse Value
Investing Strategies for the T
EC7076 Financial Derivatives Coursework
The aim of the coursework is to give you knowledge of several important
topics on financial derivatives. The first part of the coursework will ask you to
write
1. Consider a consumer with utility function (, ) = 1/2 1/2. Prices are
both equal to 1 to start with. Income is 50.
a. Compute the chosen consumption bundles and the attained level
of utility
Solutio
1. Consider a consumer for whom two goods x and y are perfect
complements. Show graphically that the optimal consumption choice of
this consumer has the same proportion of goods x and y for all income
1. Consider the inter-temporal choice of a consumer living for two periods.
Prices are equal to 1 in both periods. Todays income is equal to I, while
tomorrows income is 30. Let the interest rate be s
1
How to compute the Equivalent Variation and
the Compensating Variation in a simple example
Consider the utility function u(x, y) = xy. Prices are initially both equal to
1. Income is 12. The optimal
EC2024 Tutorial #7
Chapter 7
1. Use the asset-market-equilibrium diagram to show how an increase in real income
would affects the equilibrium real interest rate in the asset market.
Real interest
rate
EC2024 Tutorial #8
Chapter 9
LM Curve (Asset Market)
In Chapter 7, we have learned that asset market is in equilibrium when the real demand
for money equals the real supply of money.
Again consider an
EC2000 - Tutorial 3 with Solutions
Sergio Currarini
October 21, 2016
Compute the Marginal Utilities of both commodities and the MRS for
the following Utility Functions:
U (x1 , x2 ) = x1 + x2
U (x1
1. When preferences are of the Cobb-Douglas type, then:
a. Indifference curves never touch the x-axis, but may touch the y-axis
b. Indifference curves never touch the y-axis,
1. When preferences are of the Cobb-Douglas type, then:
a. Indifference curves never touch the x-axis, but may touch the y-axis
b. Indifference curves never touch the y-axis, but may touch the x-axis
EC2000 - Tutorial 7
Sergio Currarini
November 19, 2016
Argue formally that the following utility function:
1
(xr1 + xr2 ) r
represents preferences of the:
perfect substitute type for r = 1;
1;
perf
EC2000 - Tutorial 5
Sergio Currarini
November 5, 2016
1
2
1. Consider a consumer with utility function u(x1 , x2 ) = x13 x23 and income
m = 15. Prices are p1 = 2 and p2 = 1.
(a) Compute the optimal so
EC2000 - Tutorial 6
Sergio Currarini
November 11, 2016
1. Paul is a worker, with preferences u(c, l) = cl over consumption c and
leisure l. Consumption price is set to 1. Each day, Paul sleeps for 8
h
EC2000 - Tutorial 6
Sergio Currarini
November 11, 2016
1. Paul is a worker, with preferences u(c, l) = cl over consumption c and
leisure l. Consumption price is set to 1. Each day, Paul sleeps for 8
h
EC2000 - Tutorial 7
Sergio Currarini
November 19, 2016
Argue formally that the following utility function:
1
(xr1 + xr2 ) r
represents preferences of the:
perfect substitute type for r = 1;
perfect
EC2000 - Tutorial 5 with Solutions
Sergio Currarini
November 7, 2016
1
2
1. Consider a consumer with utility function u(x1 , x2 ) = x13 x23 and income
m = 18. Prices are p1 = 2 and p2 = 1.
(a) Compute