study

study - 1

quadrants: 4분면
neglect: 1. 방치하다. 2. 도외시하다, 등한하다 3. (해야 할 일을) 하지 않다.

Efficent Market Hypothesis (EMH)

Based on EMH, stock price takes into account…

siamese twins: two stocks with claims on same cash flows do not trade at same price
political cycle: First and last years of political administration have better return
Stock Split Effect: When a stock splits it has higher returns both before and after split announcement
neglected firms: Small firms neglected by analysts have high returns

Mean-Variance Portfolio Theory

1. sample mean \( \bar{R} = \frac{\sum_{i=1}^{n}R_i}{n} \)

2. sample variance \( \sigma = \sqrt{\frac{\sum(R_i - \bar{R})^2}{n - 1}} \)

3. standard error \( s.e. = \frac{\sqrt{\frac{\sum(R_i - \bar{R})^2}{n - 1}}}{\sqrt{n}} \)

평균이 $\mu$ 이고 분산이 $\sigma^2$인 모집단에서 크기 $n$인 표본을 임의 추출