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What Goes Around Comes Around: Sectoral Trends 

Cyclical Industries: Profits are dependent upon economic strength of the overall market
Household Non-Durables
Food Distribution & Convenience Stores
Personal Products
Beverages - Brewer
Beverages - Non-Alcoholic
Retail - Drugs
Food Processing
Household Products
Personal Services

Non-Cyclical Industries: Also called defensive stock experience profit regardless of the economic shifts of the overall market
Durable Goods
Non-durable/soft goods

Report on Predatory Lending Practices Directed at Members of the Armed Forces ans Their Dependents.

Top Notch Economics Schools and Exceptional Papers:


20 Largest Hedge Funds, US

RankFund NameCityAUM ($millions)Strategy
1Kayne Anderson Capital AdvisorsLos Angeles19,357Private Equity
2Canyon PartnersLos Angeles19,148Multi Strategy
3ValueAct CapitalSan Francisco17,581Long/Short
4Beach Point Capital ManagementSanta Monica13,032Multi Strategy
5Nephila CapitalLarkspur11,575Insurance
6Horsley Bridge PartnersSan Francisco11,172Private Equity
7Pacific Alternative Asset ManagementIrvine10,053Fund of Funds
8Rimrock Capital ManagementIrvine8,359Commodities
9Parallax FundSan Francisco8,310Multi Strategy
10Alder CapitalDel Mar8,070Managed Futures
11Coast Asset ManagementSanta Monica6,930Fund of Funds
12Rockwood CapitalSan Francisco6,850Real Estate
13Tennenbaum Capital PartnersSanta Monica6,243Multi Strategy
14Partner Fund ManagementSan Francisco5,758
15Empyrean Capital PartnersLos Angeles5,054Fixed Income
16Sensato InvestorsSan Francisco4,985Long/Short
17Ivory Investment ManagementLos Angeles4,388Value
18Passport CapitalSan Francisco4,295Long/Short
19Ascend CapitalOrinda4,036Long/Short
20Criterion Capital ManagementSan Francisco3,374Long/Short

Financial Armageddon is near.

Commercial Mortgage Numbers
Mortgage Default Rates
XYL: Consumer Discretionary Sector Data
Finance: Beta Equations

"No society can surely be flourishing and happy, of which the far greater part of the members are poor and miserable." -Adam Smith

Forrex Currency Correlations:
-GBP/USD (British Pound, sterling, etc...) has a negative correlation to the USD/CHF (Swiss Franc) and a positive correlation to the EURO/USD.
-Base currency is the first currency listed in the pair, the second is the quote currency. The currency pair is an indicator of the amount of the quote currency one must have to purchase one unit of the base currency.
-Purchase of pair on Forrex is simultaneously the purchase of one currency and the sale of another. You are buying the base currency with a sale of the quoted currency. -During a sale, you sell the base currency and receive the quote currency. The ask (sell price) is the amount made on dale of one unit of base.
-Major currency pairs that involve the USD but where the USD is not the base currency include EUR/USD (Euro and U.S. dollar); GBP/USD (British pound and U.S. dollar); and AUD/USD (Australian dollar and U.S. dollar).

Thaler and Sunstein
Behavioral Economics, Social Engineering & Libertarian Paternalism

Paul Krugman
A postmortem of the financial crisis & modern financial structure.

total cost formulas, average variable, marginal cost, and more, (work out your own algebra to find alternatives):
Average Total Cost (ATC) = Total Cost / Q (Output is quantity produced or ‘Q’)Average Variable Cost (AVC) = Total Variable Cost / QAverage Fixed Cost (AFC) = ATC – AVC
Total Cost (TC) = (AVC + AFC) X Output (Which is Q)
Total Variable Cost (TVC) = AVC X Output
Total Fixed Cost (TFC) = TC – TVC
Marginal Cost (MC) = Change in Total Costs / Change in Output
Marginal Product (MP) = Change in Total Product / Change in Variable Factor
Marginal Revenue (MR) = Change in Total Revenue / Change in Q
Average Product (AP) = TP / Variable Factor
Total Revenue (TR) = Price X Quantity
Average Revenue (AR) = TR / Output
Total Product (TP) = AP X Variable Factor
Economic Profit = TR – TC > 0
A Loss = TR – TC < 0
Break Even Point = AR = ATC
Profit Maximizing Condition = MR = MC
Explicit Costs = Payments to non-owners of the firm for the resources they supply.

JP&M Corporation
The firm is built on the foundation of more than 1,200 predecessor institutions that have come together through the years to form today's company. We trace our roots to 1799 in New York City, and our many well-known heritage firms include J.P. Morgan & Co., The Chase Manhattan Bank, Bank One, Manufacturers Hanover Trust Co., Chemical Bank, The First National Bank of Chicago, National Bank of Detroit, The Bear Stearns Companies Inc., Robert Fleming Holdings, Cazenove Group and the business acquired in the WaMu transaction. Each of these firms, in its time, was closely tied to innovations in finance and the growth of the U.S. and global economies.

Financing the Building of the Brooklyn Bridge
The Brooklyn Trust Company, one of JPMorgan Chase’s predecessors, provided a majority of the nearly $15 million needed to finance the construction of the Brooklyn Bridge, the longest suspension bridge in the world. The historic bridge, opened in 1883, was the first to connect Manhattan and Brooklyn.
Historic Relic from the Hamilton-Burr Duel
JPMorgan Chase & Co. owns the brace of dueling pistols used in the infamous 1804 duel between Alexander Hamilton and Aaron Burr. Aaron Burr was the first director of The Bank of The Manhattan Company, the firm's earliest banking predecessor. The Bank of The Manhattan Company purchased the pistols in 1930.
Honoring a Financial Leader
Salmon P. Chase is the namesake for the Chase National Bank, which later merged to become JPMorgan Chase & Co. Founded in 1877 by John Thompson, Chase National Bank was named as an homage to Salmon P. Chase, who served as Secretary of Treasury for Abraham Lincoln. Chase’s image was also featured on the $10,000 bill.
Connecting Two Oceans
In 1904, J.P. Morgan & Co. was part of the largest real estate deal at that time, arranging the transfer of $40 million from the U.S. government to the French Panama Canal Co. to connect the Atlantic and Pacific Oceans by way of the Panama Canal.
Advancing Women in Finance
In 1924, Chase National Bank appointed Mary Andress Assistant Cashier. Chase was the first large New York City bank to hire a female officer in its main office. Andress also actively promoted banking as a viable career choice for women.
Debut of an Iconic Logo
The Chase octagon logo debuted in 1960 and was one of the earliest abstract company logos. While the octagon’s appearance has evolved over the years, it has been an integral part of the Chase brand for almost sixty years.
Pioneering the ATM
The United States’ first prototype cash dispensing machine, a precursor to the ATM, was inaugurated by Chemical Bank in 1969 at a Rockville Centre branch on Long Island. The first US bank to offer cash on demand, 24-hour banking was on its way to becoming a convenience all could enjoy.
Funding the Revitalization of Detroit’s Economy
In 2014, JPMorgan Chase & Co. pledged $100 million over five years to support, accelerate, and scale some of the most innovative efforts underway to transform Detroit’s economy. To find out more, take a look at what we’re doing in Detroit.
1790s fracturing of banking monopoly. Creating access for water supply to New York citizens in 1799. 

Chemical Bank 1823: chemicals, med, paint, dyes, 

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