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on 09-May-2016 (Mon)

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#asset-swap #finance #gale-using-and-tradning-asset-swaps
The MVA swap does reduce the problems with collateralisation in one important respect. The off-market swap must be worth the same as the present value of the difference between the bond’s price and par paid at the maturity of the bond. As a consequence, the ‘loan’ will be for a smaller amount and the s wap spread will be smaller (if the bond trades above par).
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Flashcard 1343398481164

Question
Spustoszenie polityki: oto zamiar, jaki przyświeca każdej głupiej władzy, czy jest to komunistyczna nomenklatura, czy „dobra zmiana”. I jest to, jak sądzę, optymistyczny koniec naszej rozmowy
Answer
Kimże jest Sokrates? Głupkiem? Czy tym, który wie, że wydaje mu się, że wie?

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GŁUPOTA: Gwałt przesądu | Obyczaje | Dwutygodnik | Dwutygodnik
tym, że zobowiązuje do mówienia, ale takiego, które wyklucza kontrdyskurs. Faszyzm jest zapełnieniem przestrzeni publicznej mową jednorodną, a przez to kompletnie pustą, tak pustą, że nawet intencje tego zabiegu przestają się na końcu liczyć. <span>Spustoszenie polityki: oto zamiar, jaki przyświeca każdej głupiej władzy, czy jest to komunistyczna nomenklatura, czy „dobra zmiana”. I jest to, jak sądzę, optymistyczny koniec naszej rozmowy, bo każda taka próba odessania sensu z przestrzeni publicznej zawsze kończyła się implozją. To, że tego architekci „dobrej zmiany” nie dostrzegają, to oczywiście objaw czystej głupoty.







#odersky-programming-in-scala-2ed #scala
Scala does not require you to catch checked exceptions, or declare them in a throws clause
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One difference from Java that you’ll quickly notice in Scala is that unlike Java, Scala does not require you to catch checked exceptions, or declare them in a throws clause.

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Flashcard 1343427579148

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#odersky-programming-in-scala-2ed #scala
Question
Scala [does not require/requires] you to catch checked exceptions, or declare them in a throws clause
Answer
does not require

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Scala does not require you to catch checked exceptions, or declare them in a throws clause

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Flashcard 1343430724876

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#asset-swap #finance #gale-using-and-tradning-asset-swaps
Question
In case of par/par asset swap, the investor (asset- swap buyer) buys a bond from an asset swap seller for par rather than the full price. The investor then pays fixed on a swap to the maturity of the bond at a rate equal to the coupon of the bond, and receives the Libor rate [minus or plus] (in the case of most governments) a spread. All fixed cash flows are timed to coincide and net off.
Answer
minus

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e investor (asset- swap buyer) buys a bond from an asset swap seller for par rather than the full price. The investor then pays fixed on a swap to the maturity of the bond at a rate equal to the coupon of the bond, and receives the Libor rate <span>less (in the case of most governments) a spread. All fixed cash flows are timed to coincide and net off.<span><body><html>

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Flashcard 1343441734924

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#2015 #book-2 #cfa #cfa-level-1 #economics #has-images #schweser
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#2015 #book-2 #cfa #cfa-level-1 #economics #has-images #schweser
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Flashcard 1343451696396

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#2015 #book-2 #cfa #cfa-level-1 #economics #has-images #schweser
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Question
When price of Good X decreases, we can have 3 possible outcomes. What is the name of this outcome?
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Flashcard 1343457725708

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#2015 #book-2 #cfa #cfa-level-1 #economics #has-images #schweser
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Question
When price of Good X decreases, we can have 3 possible outcomes. What is the name of this outcome? Just describe.
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Flashcard 1343463492876

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#2015 #book-2 #cfa #cfa-level-1 #economics #has-images #schweser
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Question
When price of Good X decreases, we can have 3 possible outcomes. What is the name of this outcome? Just describe.
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#2015 #book-2 #cfa #cfa-level-1 #economics #schweser
A Giffen good is an inferior good for which the negative income effect outweighs the positive substitution effect when price falls.
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Flashcard 1343469522188

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#2015 #book-2 #cfa #cfa-level-1 #economics #has-images #schweser
[unknown IMAGE 1343462444300]
Question
A Giffen good is an inferior good for which the [what outweighs what] when price falls.
Answer
negative income effect outweighs the positive substitution effect

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A Giffen good is an inferior good for which the negative income effect outweighs the positive substitution effect when price falls.

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Flashcard 1343473192204

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#2015 #book-2 #cfa #cfa-level-1 #economics #has-images #schweser
[unknown IMAGE 1343462444300]
Question
A [...] good is an inferior good for which the negative income effect outweighs the positive substitution effect when price falls.
Answer
Giffen

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A Giffen good is an inferior good for which the negative income effect outweighs the positive substitution effect when price falls.

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#2015 #book-2 #cfa #cfa-level-1 #economics #schweser
A Giffen good is an inferior good for which the negative income effect of a price decrease outweighs the positive substitution effect, so that a decrease (increase) in the good 's price has a net result of decreasing (increasing) the quantity consumed.
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Flashcard 1343476600076

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Question
How is Veblen good similar to Giffen good?
Answer
A Veblen good is also one for which an increase (decrease) in price results in an increase (decrease) in the quantity consumed. However, a Veblen good is not an inferior good . The increase in consumption when the price of the good increases is due to a perception that a higher price makes consuming the good more desirable in some way, perhaps conveying higher status.

It seems that when Giffen good gets cheaper, it triggers negative income effect (more remaining money) - this is how we get from goods price to income, therefore we can say it is inferior, i.e. income elasticity of demand is negative.

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Flashcard 1343480532236

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#2015 #book-2 #cfa #cfa-level-1 #economics #has-images #schweser
[unknown IMAGE 1343481842956]
Question
What is on axes? Say company produces shirts.
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Flashcard 1343484726540

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[unknown IMAGE 1343486037260]
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