CFA Chartered Financial Analyst Samenvattingen, Notities en Examens

Dollar General Going Private – Case Solution The case study focuses on the leveraged buy-out deal of Dollar General, a leading deep-discount retailing company, ofered by afliates of private-equity firm Kohlberg Kravis Roberts & Co. The transaction value was $7.3 billion and an assumption of the outstanding debt of the company. The Board of Directors agreed to the deal, whereas some shareholders had other opinions, and they filed a lawsuit against the proposed deal. The shareholders had to...

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Held-to-maturity - At cost on balance sheet; interest and realized gain/loss on income statement Available-for-sale - at FMW with unrealized gain/losses in equity on B/S; dividends, interest, realized gain/losses on I/S

What does 1.4126 USD/EUR mean? - What is a spot exchange rate? -

Cumulative Distribution Function (CDF) - distribution function, defines the probability that a random variable, X, takes on a value equal to or less than a specific value, x. Represents the sum, or cumulative value, of the probabilities of the outcomes up to and including a specific outcome. F(x) = P(X ≤ x)

Expected Return on a Portfolio - Composed of n assets with weights w and expected returns r Covariance of asset returns - Is a measure of how two assets move together. It is the expected value of the product of the deviations of the two random variables from their expected values

Default Risk - Risk that a borrower will not make promised payments Liquidity Risk - Risk of recieving less than fair value for an investment if it must be sold for cash quickly Required Interest Rate on A Security - = Nominal Interest Rate + Default Risk Premium + Liquidity Premium + Maturity Risk Premium

Bond Indenture -Contract that specifies all the rights and obligations of the issuer and owners of a fixed income security. Negative Covenants - Prohibitions on the borrower.

Price Elasticity of Demand Formula - (% Change in Quantity Demanded) / (%t Change in Price) Cross Elasticity of Demand Formula - (% Change in Quantity Demanded) / (% Change in Price of Substitute or Complement)

Current Ratio -Current Assets divided by current liabilities Quick Ratio -Cash plus marketable securities plus receivables divided by current liabilities

Can you initiate coverage on a company that is a potential client? - Yes - as long as the recommendation is not unjustifiably favorable Tender Offers - Mat., non-pub info -> can't use! To be GIPS compliant, a firm must adopt: -the broadest definition of the firm *presented annually, to all clients

Can you initiate coverage on a company that is a potential client? - Yes - as long as the recommendation is not unjustifiably favorable Tender Offers - Mat., non-pub info -> can't use! To be GIPS compliant, a firm must adopt: - the broadest definition of the firm *presented annually, to all clients