on 02-Feb-2017 (Thu)

Flashcard 1428878658828

Tags
#blue-apron #citychef
Question
Blue Apron creates and captures value by solving a prescient problem facing many Americans today: [...] but [...]
they love to cook

feel they don’t have the time.

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Blue Apron creates and captures value by solving a prescient problem facing many Americans today: they love to cook but feel they don’t have the time.

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Blue Apron: Fixing the Food Delivery Supply Chain – Technology and Operations Management
Written by SRT, Posted on December 9, 2015 Blue Apron leverages supply chain innovation to get fresh ingredients, great recipes delivered weekly to your home. [imagelink] <span>Blue Apron creates and captures value by solving a prescient problem facing many Americans today: they love to cook but feel they don’t have the time. Blue Apron “delivers farm fresh ingredients and original recipes so [people] can create an incredible meal any night of the week 2 .” The company works with local farmers to create deli

Flashcard 1428946029836

Tags
#blue-apron #citychef
Question
Who is a customer of blue apron?
“Everybody who wants to cook is our customer,”

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when I asked cofounder and COO Wadiak whether men were their target customers, he quickly dispelled that notion. “Everybody who wants to cook is our customer,” he explained over the phone. “But we have actually found that we have a high percentage of customers who have never cooked before.”

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Why Men Love Blue Apron - Vogue
t is about having a nice home-cooked meal,” he said. “We throw on some music and divide the tasks. I’m the meat-and-stove guy. She’s better at dicing.” Adding to my hunch, I noted that the hands pictured on their recipe cards were male. But <span>when I asked cofounder and COO Wadiak whether men were their target customers, he quickly dispelled that notion. “Everybody who wants to cook is our customer,” he explained over the phone. “But we have actually found that we have a high percentage of customers who have never cooked before.” Wadiak worked for years as a chef, both in restaurants and in people’s homes. “If you ever teach a class to someone who has never cooked before, you really learn quickly what people can

Flashcard 1428955991308

Tags
#blue-apron #citychef
Question
Blue Apron is one of three fast-growing, venture-backed meal kit startups are based in New York City.

[...], which was founded by Salzberg's former business school classmates, scored a Shark Tank deal and has annual revenue estimated in the tens of millions.

Flashcard 1428962544908

Tags
#blue-apron #citychef
Question
The menus, which change [...] based on seasonal needs and are created by the culinary team and renowned guest chefs.
weekly

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d>The service is convenient, offering free delivery in refrigerated boxes whenever best fits the customer’s schedule. The step-by-step recipes are appropriate for beginner and experienced cooks alike. The menus, which change weekly based on seasonal needs, are created by the culinary team and renowned guest chefs.<html>

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Blue Apron: Fixing the Food Delivery Supply Chain – Technology and Operations Management
rybody who wants to cook is our customer 1 ”. The recipes are simple, with instructions written in a clear and direct way, complete with pictures. The business model focuses on removing the biggest obstacle to cooking – deciding what to cook. <span>The service is convenient, offering free delivery in refrigerated boxes whenever best fits the customer’s schedule. The step-by-step recipes are appropriate for beginner and experienced cooks alike. The menus, which change weekly based on seasonal needs, are created by the culinary team and renowned guest chefs. For its suppliers, Blue Apron works with family-run farmers and artisans to source the highest quality ingredients. On the recipe cards, they provide an information sheet that highlight

Flashcard 1429142637836

Tags
#sister-miriam-joseph #trivium
Question
Geometry, the theory of space, and astronomy, an application of the theory of space, are the arts of [...].
continuous quantity or extension

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Geometry, the theory of space, and astronomy, an application of the theory of space, are the arts of continuous quantity or extension.

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Flashcard 1430658878732

Tags
#cfa #cfa-level-1 #economics #microeconomics #reading-14-demand-and-supply-analysis-consumer-demand #study-session-4-microeconomics-analysis
Question

The candidate should be able to:

1. describe [...] and [...]

2. describe the use of indifference curves, opportunity sets, and budget constraints in decision making;

3. calculate and interpret a budget constraint;

4. determine a consumer’s equilibrium bundle of goods based on utility analysis;

5. compare substitution and income effects;

6. distinguish between normal goods and inferior goods and explain Giffen goods and Veblen goods in this context.

consumer choice theory and utility theory;

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LEARNING OUTCOMES
The candidate should be able to: describe consumer choice theory and utility theory; describe the use of indifference curves, opportunity sets, and budget constraints in decision making; calculate and interpret a budget constraint;

Flashcard 1431707454732

Tags
#cfa #cfa-level-1 #economics #microeconomics #reading-14-demand-and-supply-analysis-consumer-demand #section-3-utility-theory #study-session-4
Question

3. UTILITY THEORY: MODELING PREFERENCES AND TASTES

The section is divided in:

3.3. Indifference Curves: The Graphical Portrayal of the Utility Function 3.4. Indifference Curve Maps 3.5. Gains from Voluntary Exchange: Creating Wealth through Trade

Axioms of the Theory of Consumer Choice

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Section 3. UTILITY THEORY: MODELING PREFERENCES AND TASTES
3. UTILITY THEORY: MODELING PREFERENCES AND TASTES The section is divided in: 3.1. Axioms of the Theory of Consumer Choice 3.2. Representing the Preference of a Consumer: The Utility Function 3.3. Indifference Curves: The Graphical Portrayal of the Utility Function 3.4. In

Flashcard 1432238558476

Tags
#cfa #cfa-level-1 #economics #microeconomics #reading-14-demand-and-supply-analysis-consumer-demand #section-3-utility-theory #study-session-4
Question
Bundle A might have the same amount of all but one of the goods and services as bundle B but a different amount of that one.

Bundles A and B would be considered two [...]
distinct bundles.

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Bundle A might have the same amount of all but one of the goods and services as bundle B but a different amount of that one. Bundles A and B would be considered two distinct bundles.

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3. UTILITY THEORY: MODELING PREFERENCES AND TASTES
ave zero of one or more of those goods. A distinctly different consumption bundle would contain all of the same goods but in different quantities, again allowing for the possibility of a zero quantity of one or more of the goods. For example, <span>bundle Amight have the same amount of all but one of the goods and services as bundle B but a different amount of that one. Bundles A and B would be considered two distinct bundles. Given this understanding of consumption bundles, the first assumption we make about a given consumer’s preferences is simply that she is able to make a comparison between a

Flashcard 1432292297996

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Question
At each fulfilment center, workers on assembly lines pack boxes to be delivered anywhere from [...] later.
1-7 days

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n>Bulk purchasing, portioned delivery . Blue Apron built its model on the idea of reducing food waste. At each fulfilment center, workers on assembly lines pack boxes with poultry, meat, vegetables and condiments to be delivered anywhere from <span>1-7 days later. Purchasing in bulk allows the company to negotiate prices with farmers, who are happy to receive a slightly lower price for a guaranteed volume. By only offering 6 recipes per we

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Blue Apron: Fixing the Food Delivery Supply Chain – Technology and Operations Management

Flashcard 1432535043340

Tags
#blue-apron #citychef
Question
According to Blue Apron, the majority of its members are [...].
couples

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According to Blue Apron, the majority of its members are couples. But even men who aren’t in a relationship are taking advantage of it. “It’s good for a date night, if you want to impress someone,” said Ricky, 29, who tried it out for two weeks.</spa

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Why Men Love Blue Apron - Vogue
ioned my husband’s newfound love for cooking at the office and a coworker told me she was having a similar experience at her house. We both wondered if Blue Apron was somehow secretly targeting men—after all, three guys founded the company. <span>According to Blue Apron, the majority of its members are couples. But even men who aren’t in a relationship are taking advantage of it. “It’s good for a date night, if you want to impress someone,” said Ricky, 29, who tried it out for two weeks. “I wouldn’t sign up for it regularly, but I’ll definitely do it again for a special occasion.” Andee and her boyfriend, Tom, decided to try out Blue Apron after seeing an offer to join

Flashcard 1432539499788

Tags
#blue-apron #citychef
Question
Integrating that locally-grown food into your diet requires paying careful attention to [...] — as well as the [...] of nearby farmers.
hyper-local seasonality

growing schedules

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Integrating that locally-grown food into your diet requires paying careful attention to hyper-local seasonality — as well as the growing schedules of nearby farmers.

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em "a safety net and a recipe," he says. "If you can cook with it and interact with it on an emotional level, it changes your perception. It's the secret sauce to educating people about food and biodiversity." <span>Integrating that locally-grown food into your diet requires paying careful attention to hyper-local seasonality — as well as the growing schedules of nearby farmers. "The idea of planning ahead is a challenge," says Jennifer Goggin, the co-founder of FarmersWeb, an online marketplace designed to connect farmers with services like Blue Apro

Flashcard 1432557587724

Tags
#blue-apron #citychef #operational-model #supply-chain
Question
Blue Apron’s model sources farms differently for [...], so the food is local and fresh and the delivery costs are low.
each of their three regional fulfilment centers

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Blue Apron’s model centers on delivering fresh ingredients. To maintain control of quality, the company manages its own distribution channel. The company sources farms differently for each of their three regional fulfilment centers, so the food is local and fresh and the delivery costs are low. The boxes are delivered in refrigerated boxes to maintain freshness, however, so delivery is outsourced to the cheapest p

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Blue Apron: Fixing the Food Delivery Supply Chain – Technology and Operations Management

Flashcard 1432565976332

Tags
#blue-apron #citychef
Question
On the recipe cards, they provide an information sheet that [...] alongside information about how to cut and cook.
highlights the farms which provided the produce

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On the recipe cards, they provide an information sheet that highlights the farms which provided the produce alongside information about how to cut and cook.

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Blue Apron: Fixing the Food Delivery Supply Chain – Technology and Operations Management
ooks alike. The menus, which change weekly based on seasonal needs, are created by the culinary team and renowned guest chefs. For its suppliers, Blue Apron works with family-run farmers and artisans to source the highest quality ingredients. <span>On the recipe cards, they provide an information sheet that highlights the farms which provided the produce alongside information about how to cut and cook. Click here to view a video featuring Blue Apron’s Ghee Supplier. Blue Apron aligns its operating model with its business model through: Control of the supply chain . Blue Apron’s m

Flashcard 1432568335628

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Question
As a [...], Blue Apron collects data on its customers that allows for predictive modeling of demand.

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As a subscription business, Blue Apron collects data on its customers that allows for predictive modeling of demand. They built an internal suite of tools that manage the workflow of purchasing, fulfilment operat

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Blue Apron: Fixing the Food Delivery Supply Chain – Technology and Operations Management

Flashcard 1436154989836

Tags
#costs #finance #investopedia
Question

Explicit costs have a paper trail and provide [...].

audit documentation

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cit Costs vs. Implicit Costs Explicit costs arise based on what has actually been purchased as opposed to implicit costs that arise based on what has actually been given up other than money. Explicit costs have a paper trail and provide <span>audit documentation. Implicit costs are not traceable in a financial system. While management will utilize explicit costs when viewing business operations, implicit costs are only utilized in decision-maki

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Explicit Cost Definition | Investopedia
hased are examples of explicit costs. Although the depreciation of an asset is not an activity that can be tangibly traced, depreciation expense is an explicit cost because it relates to the cost of the underlying asset that the company owns. <span>Explicit Costs vs. Implicit Costs Explicit costs arise based on what has actually been purchased as opposed to implicit costs that arise based on what has actually been given up other than money. Explicit costs have a paper trail and provide audit documentation. Implicit costs are not traceable in a financial system. While management will utilize explicit costs when viewing business operations, implicit costs are only utilized in decision-making or choosing between multiple alternatives. Opportunity Costs Explicit costs are used in the computation of opportunity costs. An opportunity cost is the total value of an item forgone. It is calculated by adding the explicit and

Flashcard 1439273192716

Tags
#eximbank #key-features-of-loan-guarantees #octopus #usa
Question
Guaranteed loans cover 100 percent of [...] and [...] for 85 percent of the U.S. contract price.
the principal and interest

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Guaranteed loans cover 100 percent of the principal and interest for 85 percent of the U.S. contract price.

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Government-Assisted Foreign Buyer Financing (Eximbank USA)
g may not be available in certain countries and certain terms for U.S. government policy reasons (for more information, see the Country Limitation Schedule posted on the Bank’s Web site, www.exim.gov, under the “Apply” section). <span>Key Features of Ex-Im Bank Loan Guarantees Loans are made by commercial banks and repayment of these loans is guaranteed by Ex-Im Bank. Guaranteed loans cover 100 percent of the principal and interest for 85 percent of the U.S. contract price. Interest rates are negotiable, and are usually floating and lower than fixed rates. Guaranteed loans are fully transferable, can be securitized and are available in certain foreign currencies. Guaranteed loans have a faster documentation process with the assistance of commercial banks. There are no U.S. vessel shipping requirements for amounts less than \$20 million. Key Features of Ex-Im Bank Direct Loans Fixed-rate loans are provided directly to creditworthy foreign buyers. Direct loans supp

Flashcard 1439746362636

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Question
Section 7 reviews techniques for [...] the various forms of market structure.
identifying

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Section 7 reviews techniques for identifying the various forms of market structure. For example, there are accepted measures of market concentration that are used by regulators of financial institutions to judge whether or not a p

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1. INTRODUCTION
tes. Sections 3, 4, 5, and 6 analyze demand, supply, optimal price and output, and factors affecting long-run equilibrium for perfect competition, monopolistic competition, oligopoly, and pure monopoly, respectively. <span>Section 7 reviews techniques for identifying the various forms of market structure. For example, there are accepted measures of market concentration that are used by regulators of financial institutions to judge whether or not a planned merger or acquisition will harm the competitive nature of regional banking markets. Financial analysts should be able to identify the type of market structure a firm is operating within. Each different structure implies a different long-run sustainability of profits. A summary and practice problems conclude the reading. <span><body><html>

Flashcard 1442128203020

Tags
#cfa-level-1 #factors-that-determine-market-structures #microeconomics #reading-16-the-firm-and-market-structures #section-2-analysis-of-mkt-structures #study-session-4
Question
Because oligopoly industries have so few firms, each firm feels dependent on [...].
the pricing strategies of the others.

Therefore, non-price competition becomes a dominant strategy.

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e few firms in the market feel dependent on each other. Each firm fears retaliatory price changes that would reduce total revenue for all of the firms in the market. Because oligopoly industries have so few firms, each firm feels dependent on <span>the pricing strategies of the others. Therefore, non-price competition becomes a dominant strategy.<span><body><html>

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2. ANALYSIS OF MARKET STRUCTURES

Flashcard 1448324238604

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Question
Reading 22 is organized as follows:

Section 2 discusses the scope of financial statement analysis.

Section 3 describes the [...] used in financial statement analysis, including the primary financial statements.

Section 4 provides a framework for guiding the financial statement analysis process.
sources of information

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Reading 22 is organized as follows: Section 2 discusses the scope of financial statement analysis. Section 3 describes the sources of information used in financial statement analysis, including the primary financial statements. Section 4 provides a framework for guiding the financial statement analysis process. </sp

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1. INTRODUCTION
dited) commentary by management. Basic financial statement analysis—as presented in this reading—provides a foundation that enables the analyst to better understand information gathered from research beyond the financial reports. <span>This reading is organized as follows: Section 2 discusses the scope of financial statement analysis. Section 3 describes the sources of information used in financial statement analysis, including the primary financial statements (balance sheet, statement of comprehensive income, statement of changes in equity, and cash flow statement). Section 4 provides a framework for guiding the financial statement analysis process. A summary of the key points and practice problems in the CFA Institute multiple-choice format conclude the reading. <span><body><html>

Flashcard 1456125381900

Tags
#calculus #mathematics #tensors #vectors
Question
So in 3-dimensional space, a second-rank tensor is represented by 32 = 9 numbers. In N-dimensional space, [how many numbers for scalar, vector and tensor?]
scalars still require only one number, vectors require N numbers, and tensors require NR numbers

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So in 3-dimensional space, a second-rank tensor is represented by 3 2 = 9 numbers. In N-dimensional space, scalars still require only one number, vectors require N numbers, and tensors require N R numbers

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Flashcard 1457088236812

Tags
#bayes #programming #r #statistics
Question
How is a dataframe different from a matrix? (2 ways)
But each column can be of a different type, and, in particular, columns can be factors.

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A data frame is much like a matrix, insofar as it has several columns of equal length. But each column can be of a different type, and, in particular, columns can be factors. A data frameisreallyatypeof list in which each component is thought of as a named column of a matrix, with different columns possibly of different types. The elements of a data frame ca

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Flashcard 1457160588556

Tags
#matlab #programming
Question
A complex number may be represented in polar coordinates: z =re angle(z) returns θ between −π and π ; that is, atan2(imag(z), real(z)). abs(z) returns the [...]
magnitude r

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A complex number may be represented in polar coordinates: z =re iθ angle(z) returns θ between −π and π ; that is, atan2(imag(z), real(z)). abs(z) returns the magnitude r

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Annotation 1465021500684

 PART I: USE DECOYED OBJECTS OF DESIRE AND RED HERRINGS TO THROW PEOPLE OFF THE SCENT #48-laws-of-power #law-3-conceal-your-intentions If at any point in the deception you practice people have the slightest suspicion as to your intentions, all is lost. Do not give them the chance to sense what you are up to: Throw them off the scent by dragging red herrings across the path. Use false sincerity, send ambiguous signals, set up misleading objects of desire. Unable to distinguish the genuine from the false, they cannot pick out your real goal.

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Flashcard 1465038802188

Tags
#48-laws-of-power #law-3-conceal-your-intentions
Question
PART I: USE [...] AND [...] TO THROW PEOPLE OFF THE SCENT
DECOYED OBJECTS OF DESIRE

RED HERRINGS

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PART I: USE DECOYED OBJECTS OF DESIRE AND RED HERRINGS TO THROW PEOPLE OFF THE SCENT If at any point in the deception you practice people have the slightest suspicion as to your intentions, all is lost. Do not give them the

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Flashcard 1465054268684

Tags
#48-laws-of-power #law-3-conceal-your-intentions
Question
If at any point in the deception practice [...], all is lost.

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If at any point in the deception you practice people have the slightest suspicion as to your intentions, all is lost. Do not give them the chance to sense what you are up to: Throw them off the scent by dragging red herrings across the path. Use false sincerity, send ambiguous signals, se

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Annotation 1465056627980

 #48-laws-of-power #law-3-conceal-your-intentions Do not give them the chance to sense what you are up to: Throw them off the scent by dragging red herrings across the path.

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If at any point in the deception you practice people have the slightest suspicion as to your intentions, all is lost. Do not give them the chance to sense what you are up to: Throw them off the scent by dragging red herrings across the path. Use false sincerity, send ambiguous signals, set up misleading objects of desire. Unable to distinguish the genuine from the false, they cannot pick out your real goal.</b

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Annotation 1465058200844

 #48-laws-of-power #law-3-conceal-your-intentions Use false sincerity, send ambiguous signals, set up misleading objects of desire. Unable to distinguish the genuine from the false, they cannot pick out your real goal.

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>If at any point in the deception you practice people have the slightest suspicion as to your intentions, all is lost. Do not give them the chance to sense what you are up to: Throw them off the scent by dragging red herrings across the path. <span>Use false sincerity, send ambiguous signals, set up misleading objects of desire. Unable to distinguish the genuine from the false, they cannot pick out your real goal.<span><body><html>

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Annotation 1465059773708

 TRANSGRESSION OF THE LAW #48-laws-of-power #law-3-conceal-your-intentions #part-i-use-objects-of-desire-and-red-herrings #transgression-of-the-law Ninon de Lenclos, a badass ma'am helped the Marquis de Sevigné to hit on a bitch. Ninon was sixty-two at the time,bitch was twenty-two and hot. First, told him this was war, and that the bitch was a citadel to which he had to lay siege. Every step had to be planned and executed with the utmost attention to detail. Told him to start over and approach her indifferently, treat her like a friend. This was to throw her off the scent. The bitch was no longer to take his interest in her for granted. Ninon planned ahead. Once she was confused, it would be time to make her jealous. At the next party, the marquis would show up with a bunch of hot bitches. She would get jelous and he would look desired by others. A woman who is interested in a man wants to see that other women are interested in him, too. It makes it all the more satisfying to snatch him from them. Once the countess was jealous but intrigued, it would be time to manipulate her. The marquis would fail to show up at parties where the bitch expected to see him and appear at places where she dont expext him. She would be unable to predict his moves. All of this would push her into the state of emotional confusion that is a prerequisite for successful seduction. These took several weeks. Bitch started laughing a little harder at his jokes, listen more closely to his stories. Bitch was asking questions about him and look for him. It was a matter of weeks now, maybe a month or two.. Dumbfuck marquis some days later was at the bitch's home. He took her hand and told her he was in love with her. Bitch got confused, a reaction he did not expect. She became polite, then excused herself. Bro, fucked it up, the spell was broken.

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Annotation 1465064230156

 #48-laws-of-power #law-3-conceal-your-intentions #part-i-use-objects-of-desire-and-red-herrings #transgression-of-the-law A woman who is interested in a man wants to see that other women are interested in him, too.

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her for granted. Ninon planned ahead. Once she was confused, it would be time to make her jealous. At the next party, the marquis would show up with a bunch of hot bitches. She would get jelous and he would look desired by others. <span>A woman who is interested in a man wants to see that other women are interested in him, too. It makes it all the more satisfying to snatch him from them. Once the countess was jealous but intrigued, it would be time to manipulate her. The marquis would fail to show

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Flashcard 1465065278732

Tags
#48-laws-of-power #law-3-conceal-your-intentions #part-i-use-objects-of-desire-and-red-herrings #transgression-of-the-law
Question
A woman who is interested in a man wants to [...], too.
see that other women are interested in him.

It makes it all the more satisfying to snatch him from them.

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A woman who is interested in a man wants to see that other women are interested in him, too.

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Annotation 1465067638028

 #48-laws-of-power #law-3-conceal-your-intentions #part-i-use-objects-of-desire-and-red-herrings #transgression-of-the-law A state of emotional confusion that is a prerequisite for successful seduction.

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d, it would be time to manipulate her. The marquis would fail to show up at parties where the bitch expected to see him and appear at places where she dont expext him. She would be unable to predict his moves. All of this would push her into <span>the state of emotional confusion that is a prerequisite for successful seduction. These took several weeks. Bitch started laughing a little harder at his jokes, listen more closely to his stories. Bitch was asking questions about him and look for him. It

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Flashcard 1465069473036

Tags
#48-laws-of-power #law-3-conceal-your-intentions #part-i-use-objects-of-desire-and-red-herrings #transgression-of-the-law
Question
A [...] is a prerequisite for successful seduction.
state of emotional confusion

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A state of emotional confusion that is a prerequisite for successful seduction.

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Annotation 1465074191628

 #48-laws-of-power #interpretation #law-3-conceal-your-intentions #part-i-use-objects-of-desire-and-red-herrings #transgression-of-the-law Ninon knew that men and women are very different, but when it comes to seduction they feel the same: Deep down inside, they often sense when they are being seduced, but they give in because they enjoy the feeling of being led along.

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ld, Molière, and Richelieu. Seduction was a game to her, to be practiced with skill. As she got older, and her reputation grew, the most important families in France would send their sons to her to be instructed in matters of love. <span>Ninon knew that men and women are very different, but when it comes to seduction they feel the same: Deep down inside, they often sense when they are being seduced, but they give in because they enjoy the feeling of being led along. It is a pleasure to let go, and to allow the other person to detour you into a strange country. Everything in seduction, however, depends on suggestion. You cannot announce your intenti

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Annotation 1465075764492

 #48-laws-of-power #interpretation #law-3-conceal-your-intentions #part-i-use-objects-of-desire-and-red-herrings #transgression-of-the-law Everything in seduction, however, depends on suggestion. You cannot announce your intentions or reveal them directly in words. Instead you must throw your targets off the scent.

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feel the same: Deep down inside, they often sense when they are being seduced, but they give in because they enjoy the feeling of being led along. It is a pleasure to let go, and to allow the other person to detour you into a strange country. <span>Everything in seduction, however, depends on suggestion. You cannot announce your intentions or reveal them directly in words. Instead you must throw your targets off the scent. To surrender to your guidance they must be appropriately confused. You have to scramble your signals—appear interested in another man or woman (the decoy), then hint at being interested

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Annotation 1465077337356

 #48-laws-of-power #interpretation #law-3-conceal-your-intentions #part-i-use-objects-of-desire-and-red-herrings #transgression-of-the-law In seduction you have to scramble your signals—appear interested in another man or woman (the decoy), then hint at being interested in the target, then feign indifference, on and on. Such patterns not only confuse, they excite.

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erything in seduction, however, depends on suggestion. You cannot announce your intentions or reveal them directly in words. Instead you must throw your targets off the scent. To surrender to your guidance they must be appropriately confused. <span>You have to scramble your signals—appear interested in another man or woman (the decoy), then hint at being interested in the target, then feign indifference, on and on. Such patterns not only confuse, they excite. Imagine this story from the countess’s perspective: After a few of the marquis’s moves, she sensed the marquis was playing some sort of game, but the game delighted her. She

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Annotation 1465078910220

 #48-laws-of-power #interpretation #law-3-conceal-your-intentions #part-i-use-objects-of-desire-and-red-herrings #transgression-of-the-law His moves intrigued her, each of them keeping her waiting for the next one—she even enjoyed her jealousy and confusion, for sometimes any emotion is better than the boredom of security.

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Imagine this story from the countess’s perspective: After a few of the marquis’s moves, she sensed the marquis was playing some sort of game, but the game delighted her. She did not know where he was leading her, but so much the better. <span>His moves intrigued her, each of them keeping her waiting for the next one—she even enjoyed her jealousy and confusion, for sometimes any emotion is better than the boredom of security. Perhaps the marquis had ulterior motives; most men do. But she was willing to wait and see, and probably if she had been made to wait long enough, what he was up to would not have matte

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Annotation 1465080483084

 #48-laws-of-power #interpretation #law-3-conceal-your-intentions #part-i-use-objects-of-desire-and-red-herrings #transgression-of-the-law The moment the marquis uttered that fatal word “love,” his true intention was revealed: He was seducing her. All that before had been charming now seemed ugly.

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n is better than the boredom of security. Perhaps the marquis had ulterior motives; most men do. But she was willing to wait and see, and probably if she had been made to wait long enough, what he was up to would not have mattered. <span>The moment the marquis uttered that fatal word “love,” however, all was changed. This was no longer a game with moves, it was an artless show of passion. His intention was revealed: He was seducing her. This put everything he had done in a new light. All that before had been charming now seemed ugly and conniving; the countess felt embarrassed and used. A door closed that would never open again. Do not be held a cheat, even though it is impossible to live today without being one. Let your greatest cunning lie in covering up what looks like cunning. Baltas

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Annotation 1465082055948

 #48-laws-of-power #interpretation #law-3-conceal-your-intentions #part-i-use-objects-of-desire-and-red-herrings #transgression-of-the-law Do not be held a cheat, even though it is impossible to live today without being one. Let your greatest cunning lie in covering up what looks like cunning. Baltasar Gracián, 1601-1658

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was revealed: He was seducing her. This put everything he had done in a new light. All that before had been charming now seemed ugly and conniving; the countess felt embarrassed and used. A door closed that would never open again. <span>Do not be held a cheat, even though it is impossible to live today without being one. Let your greatest cunning lie in covering up what looks like cunning. Baltasar Gracián, 1601-1658<span><body><html>

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Annotation 1465084677388

 #bayes #programming #r #statistics Pseudo-random number generators (PRNGs) are not actually random; they are in fact deterministic. But the properties of the sequences they generate mimic the properties of random processes.

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Annotation 1465086774540

 #bayes #programming #r #statistics mathematical functions can define curves that can be used to describe degrees of belief

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Annotation 1465088347404

 #bayes #programming #r #statistics Your job in answering that question is to provide a number between 0 and 1 that accurately reflects your belief probability. One way to come up with such a number is to calibrate your beliefs relative to other events with clear probabilities

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Annotation 1465089920268

 #bayes #programming #r #statistics o specify our subjective beliefs, we have to specify how likely we think each possible outcome is. It can be hard to pin down mushy intuitive beliefs. In the next section, we explore one way to “calibrate” subjective beliefs, and in the subsequent section we discuss ways to mathematically describe degrees of belief

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Annotation 1465091493132

 #bayes #programming #r #statistics In general, a probability, whether it’s outside the head or inside the head, is just a way of assigning numbers to a set of mutually exclusive possibilities

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Annotation 1465093065996

 #bayes #programming #r #statistics 1. A probability value must be nonnegative (i.e., zero or positive). 2. The sum of the probabilities across all events in the entire sample space must be 1.0 (i.e., one of the events in the space must happen, otherwise the space does not exhaust all possibilities). 3. For any two mutually exclusive events, the probability that one or the other occurs is the sum of their individual probabilities. For example, the probability that a fair six-sided die comes up 3-dots or 4-dots is 1/6 + 1/6 = 2/6.

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Annotation 1465094638860

 #bayes #programming #r #statistics A probability distribution is simply a list of all possible outcomes and their corresponding probabilities

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Annotation 1465096211724

 #bayes #programming #r #statistics For continuous outcome spaces, we can discretize the space into a finite set of mutually exclusive and exhaustive “bins.”

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Annotation 1465097784588

 #bayes #programming #r #statistics The probability of a discrete outcome, such as the probability of falling into an interval on a continuous scale, is referred to as a probability mass

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Annotation 1465099357452

 #bayes #programming #r #statistics Loosely speaking, the term “mass” refers the amount of stuff in an object. When the stuff is probability and the object is an interval of a scale, then the mass is the proportion of the outcomes in the interval.

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Annotation 1465100930316

 #bayes #programming #r #statistics The problem with using intervals, however, is that their widths and edges are arbitrary, and wide intervals are not very precise. Therefore, what we will do is make the intervals infinitesimally narrow, and instead of talking about the infinitesimal probability mass of each infinitesimal interval, we will talk about the ratio of the probability mass to the interval width. That ratio is called the probability density.

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Annotation 1465102503180

 #bayes #programming #r #statistics Loosely speaking, density is the amount of stuff per unit of space it takes up. Because we are measuring amount of stuff by its mass, then density is the mass divided by the amount space it occupies.

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Annotation 1469112782092

 #matlab #programming Step 1 Problem analysis. The context of the proposed investigation must be es- tablished to provide the proper motivation for the d esign of a computer program. The designer must fully recognize the need and must develop an understanding of the nature of the problem to be solved. Step 2 Problem statement. Develop a detailed statement of the mathematical problem to be solved with a computer program. Step 3 Processing scheme. Define the inputs required and the outputs to be pro- duced by the p rogram. Step 4 Algorithm. Design the step-by-step procedure in a top-down process that decomposes the overall problem into subordinate problems. The subtasks to solve the latter are refined by designing an itemized list of steps to be programmed. This list o f tasks is the structure plan and is written in pseudo- code (i.e., a combination of English, mathematics, and anticipated MATLAB commands). The goal is a plan that is understandable and easily translated into a computer language. Step 5 Program algorithm. Translate or convert the algorithm into a computer language (e.g., MATLAB) and debug the syntax errors until the tool executes successfully. Step 6 Evaluation. Test all of the options and conduct a validation study of the program. For example, compare results with other programs that do similar tasks, compare with experimental data if appropriate, and compare

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Annotation 1469114354956

 #matlab #programming with theoretical predictions based on theoretical methodology related to the problems to be solved. The objective is to determine that the subtasks and the overall program are correct and accurate. The additional debugging in this step is to find and correct logical errors (e.g., mistyping of expressions by putting a plus sign where a minus sign was supposed to be) and runtime errors that may occur after the program successfully executes (e.g., cases where division by zero u nintentially occurs). Step 7 Application. Solve the problems the program was designed to solve. If the program is well designed and useful, it can be saved in your working directory (i.e., in your user-developed toolbox) for future use

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Annotation 1469115927820

 #matlab #programming A function M-file is similar to a script file in that it also has a .m extension.

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Annotation 1469117500684

 #matlab #programming However, a function M-file differs from a script file in that a function M-file communicates with the MATLAB workspace only through specially designated input and output argu- ments.

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Annotation 1469119073548

 #matlab #programming the output of the system as a function of time t could be given by something like h(t) = cos(8t)+ cos(9t). (3.1) You can represent h(t) at the command line by creating an inline object as fol- lows: h = inline( ’cos(8*t) + cos(9*t)’ );

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Annotation 1469120646412

 #matlab #programming You can create functions of more than one argument with inline.

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Article 1469122219276

2. COST OF CAPITAL

The cost of capital is the rate of return that the suppliers of capital—bondholders and owners—require as compensation for their contribution of capital. Another way of looking at the cost of capital is that it is the opportunity cost of funds for the suppliers of capital: A potential supplier of capital will not voluntarily invest in a company unless its return meets or exceeds what the supplier could earn elsewhere in an investment of comparable risk. A company typically has several alternatives for raising capital, including issuing equity, debt, and instruments that share characteristics of debt and equity. Each source selected becomes a component of the company’s funding and has a cost (required rate of return) that may be called a component cost of capital . Because we are using the cost of capital in the evaluation of investment opportunities, we are dealing with a marginal cost—what it would cost to raise additional funds for the potential investment project. Therefore, the cost of capi

Annotation 1469123529996

 #cfa-level-1 #corporate-finance #reading-36-cost-of-capital The cost of capital is the rate of return that the suppliers of capital—bondholders and owners—require as compensation for their contribution of capital.

2. COST OF CAPITAL
The cost of capital is the rate of return that the suppliers of capital—bondholders and owners—require as compensation for their contribution of capital. Another way of looking at the cost of capital is that it is the opportunity cost of funds for the suppliers of capital: A potential supplier of capital will not voluntarily invest in a

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The [...] is the rate of return that the suppliers of capital require as compensation for their contribution.

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The cost of capital is the rate of return that the suppliers of capital—bondholders and owners—require as compensation for their contribution of capital.

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2. COST OF CAPITAL
The cost of capital is the rate of return that the suppliers of capital—bondholders and owners—require as compensation for their contribution of capital. Another way of looking at the cost of capital is that it is the opportunity cost of funds for the suppliers of capital: A potential supplier of capital will not voluntarily invest in a

Annotation 1469126151436

 #cfa-level-1 #corporate-finance #reading-36-cost-of-capital A potential supplier of capital will not voluntarily invest in a company unless its return meets or exceeds what the supplier could earn elsewhere in an investment of comparable risk.

2. COST OF CAPITAL
of return that the suppliers of capital—bondholders and owners—require as compensation for their contribution of capital. Another way of looking at the cost of capital is that it is the opportunity cost of funds for the suppliers of capital: <span>A potential supplier of capital will not voluntarily invest in a company unless its return meets or exceeds what the supplier could earn elsewhere in an investment of comparable risk. A company typically has several alternatives for raising capital, including issuing equity, debt, and instruments that share characteristics of debt and equity. Each source

Annotation 1469127724300

 #cfa-level-1 #corporate-finance #reading-36-cost-of-capital A company typically has several alternatives for raising capital, including issuing equity, debt, and instruments that share characteristics of debt and equity. Each source selected becomes a component of the company’s funding and has a cost (required rate of return) that may be called a component cost of capital .

2. COST OF CAPITAL
y cost of funds for the suppliers of capital: A potential supplier of capital will not voluntarily invest in a company unless its return meets or exceeds what the supplier could earn elsewhere in an investment of comparable risk. <span>A company typically has several alternatives for raising capital, including issuing equity, debt, and instruments that share characteristics of debt and equity. Each source selected becomes a component of the company’s funding and has a cost (required rate of return) that may be called a component cost of capital . Because we are using the cos

Annotation 1469130083596

 #cfa-level-1 #corporate-finance #reading-36-cost-of-capital The cost of capital that the investment analyst is concerned with is a marginal cost.

2. COST OF CAPITAL
ponent cost of capital . Because we are using the cost of capital in the evaluation of investment opportunities, we are dealing with a marginal cost—what it would cost to raise additional funds for the potential investment project. Therefore, <span>the cost of capital that the investment analyst is concerned with is a marginal cost. Let us focus on the cost of capital for the entire company (later we will address how to adjust that for specific projects). The cost of capital of a company is the require

Annotation 1469132442892

 #cfa-level-1 #corporate-finance #reading-36-cost-of-capital The cost of capital of a company is the required rate of return that investors demand for the average-risk investment of a company.

2. COST OF CAPITAL
roject. Therefore, the cost of capital that the investment analyst is concerned with is a marginal cost. Let us focus on the cost of capital for the entire company (later we will address how to adjust that for specific projects). <span>The cost of capital of a company is the required rate of return that investors demand for the average-risk investment of a company. The most common way to estimate this required rate of return is to calculate the marginal cost of each of the various sources of capital and then calculate a weighted average of these c

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The cost of capital of a company is the required rate of return that investors demand for [...] investment in the company.
the average-risk

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The cost of capital of a company is the required rate of return that investors demand for the average-risk investment of a company.

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2. COST OF CAPITAL
roject. Therefore, the cost of capital that the investment analyst is concerned with is a marginal cost. Let us focus on the cost of capital for the entire company (later we will address how to adjust that for specific projects). <span>The cost of capital of a company is the required rate of return that investors demand for the average-risk investment of a company. The most common way to estimate this required rate of return is to calculate the marginal cost of each of the various sources of capital and then calculate a weighted average of these c

Annotation 1469135588620

 #cfa-level-1 #corporate-finance #reading-36-cost-of-capital The most common way to estimate the average risk required rate of return is to calculate the marginal cost of each of the various sources of capital and then calculate a weighted average of these costs. This weighted average is referred to as the weighted average cost of capital (WACC).

2. COST OF CAPITAL
n the cost of capital for the entire company (later we will address how to adjust that for specific projects). The cost of capital of a company is the required rate of return that investors demand for the average-risk investment of a company. <span>The most common way to estimate this required rate of return is to calculate the marginal cost of each of the various sources of capital and then calculate a weighted average of these costs. This weighted average is referred to as the weighted average cost of capital (WACC). The WACC is also referred to as the marginal cost of capital (MCC) because it is the cost that a company incurs for additional capital. The weights in this weighted average are the prop

Flashcard 1469137423628

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The most common way to estimate the average risk required rate of return is to [...] of these costs.
calculate the marginal cost of each of the various sources of capital and then calculate a weighted average.

This weighted average is referred to as the weighted average cost of capital (WACC).

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The most common way to estimate the average risk required rate of return is to calculate the marginal cost of each of the various sources of capital and then calculate a weighted average of these costs. This weighted average is referred to as the weighted average cost of capital (WACC).

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2. COST OF CAPITAL
n the cost of capital for the entire company (later we will address how to adjust that for specific projects). The cost of capital of a company is the required rate of return that investors demand for the average-risk investment of a company. <span>The most common way to estimate this required rate of return is to calculate the marginal cost of each of the various sources of capital and then calculate a weighted average of these costs. This weighted average is referred to as the weighted average cost of capital (WACC). The WACC is also referred to as the marginal cost of capital (MCC) because it is the cost that a company incurs for additional capital. The weights in this weighted average are the prop

Annotation 1469139782924

 #cfa-level-1 #corporate-finance #reading-36-cost-of-capital The WACC is also referred to as the marginal cost of capital (MCC) because it is the cost that a company incurs for additional capital.

2. COST OF CAPITAL
s required rate of return is to calculate the marginal cost of each of the various sources of capital and then calculate a weighted average of these costs. This weighted average is referred to as the weighted average cost of capital (WACC). <span>The WACC is also referred to as the marginal cost of capital (MCC) because it is the cost that a company incurs for additional capital. The weights in this weighted average are the proportions of the various sources of capital that the company uses to support its investment program. Therefore, the WACC, in its most gene

Flashcard 1469140831500

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The WACC is also referred to as the [...] because it is the cost that a company incurs for additional capital.
marginal cost of capital (MCC)

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The WACC is also referred to as the marginal cost of capital (MCC) because it is the cost that a company incurs for additional capital.

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2. COST OF CAPITAL
s required rate of return is to calculate the marginal cost of each of the various sources of capital and then calculate a weighted average of these costs. This weighted average is referred to as the weighted average cost of capital (WACC). <span>The WACC is also referred to as the marginal cost of capital (MCC) because it is the cost that a company incurs for additional capital. The weights in this weighted average are the proportions of the various sources of capital that the company uses to support its investment program. Therefore, the WACC, in its most gene

Annotation 1469142404364

 #cfa-level-1 #corporate-finance #reading-36-cost-of-capital The weights in this weighted average are the proportions of the various sources of capital that the company uses to support its investment program.

2. COST OF CAPITAL
age of these costs. This weighted average is referred to as the weighted average cost of capital (WACC). The WACC is also referred to as the marginal cost of capital (MCC) because it is the cost that a company incurs for additional capital. <span>The weights in this weighted average are the proportions of the various sources of capital that the company uses to support its investment program. Therefore, the WACC, in its most general terms, is Equation (1)  WACC = w d r d (1 – t) + w p r p + w e r e   where w d = the prop

Annotation 1469144239372

 #cfa-level-1 #corporate-finance #reading-36-cost-of-capital WACC = wdrd(1 – t) + wprp + were   where wd = the proportion of debt that the company uses when it raises new funds rd = the before-tax marginal cost of debt t = the company’s marginal tax rate wp = the proportion of preferred stock the company uses when it raises new funds rp = the marginal cost of preferred stock we = the proportion of equity that the company uses when it raises new funds re = the marginal cost of equity

2. COST OF CAPITAL
al. The weights in this weighted average are the proportions of the various sources of capital that the company uses to support its investment program. Therefore, the WACC, in its most general terms, is Equation (1)  <span>WACC = w d r d (1 – t) + w p r p + w e r e   where w d = the proportion of debt that the company uses when it raises new funds r d = the before-tax marginal cost of debt t = the company’s marginal tax rate w p = the proportion of preferred stock the company uses when it raises new funds r p = the marginal cost of preferred stock w e = the proportion of equity that the company uses when it raises new funds r e = the marginal cost of equity <span><body><html>

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WACC = wdrd(1 – t) + wprp + were

where

wd = [...] when [...]

rd = the before-tax marginal cost of debt

t = the company’s marginal tax rate

wp = the proportion of preferred stock the company uses when it raises new funds

rp = the marginal cost of preferred stock

we = the proportion of equity that the company uses when it raises new funds

re = the marginal cost of equity

the proportion of debt that the company uses

it raises new funds

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WACC = w d r d (1 – t) + w p r p + w e r e   where w d = the proportion of debt that the company uses when it raises new funds r d = the before-tax marginal cost of debt t = the company’s marginal tax rate w p = the proportion of preferred stock

Original toplevel document

2. COST OF CAPITAL
al. The weights in this weighted average are the proportions of the various sources of capital that the company uses to support its investment program. Therefore, the WACC, in its most general terms, is Equation (1)  <span>WACC = w d r d (1 – t) + w p r p + w e r e   where w d = the proportion of debt that the company uses when it raises new funds r d = the before-tax marginal cost of debt t = the company’s marginal tax rate w p = the proportion of preferred stock the company uses when it raises new funds r p = the marginal cost of preferred stock w e = the proportion of equity that the company uses when it raises new funds r e = the marginal cost of equity <span><body><html>

Annotation 1469184609548

 #cfa-level-1 #corporate-finance #reading-36-cost-of-capital #taxes-and-cc In the United States and many other tax jurisdictions, the interest on debt financing is a deduction to arrive at taxable income.

2.1. Taxes and the Cost of Capital
Notice that in Equation 1 we adjust the expected before-tax cost on new debt financing, r d , by a factor of (1 − t). In the United States and many other tax jurisdictions, the interest on debt financing is a deduction to arrive at taxable income. Taking the tax-deductibility of interest as the base case, we adjust the pre-tax cost of debt for this tax shield. Multiplying r d by (1 − t) results in an estimate of the after-tax co

Flashcard 1469187230988

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Estimating the cost of [...] capital is more challenging than estimating the cost of [...] capital.
common equity

debt

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Estimating the cost of common equity capital is more challenging than estimating the cost of debt capital.

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2.1. Taxes and the Cost of Capital
1 − 0.4) = €0.6 million because the interest reduces the company’s tax bill by €0.4 million. In this case, the before-tax cost of debt is 10 percent, whereas the after-tax cost of debt is (€0.6 million)/(€10 million) = 6 percent. <span>Estimating the cost of common equity capital is more challenging than estimating the cost of debt capital. Debt capital involves a stated legal obligation on the part of the company to pay interest and repay the principal on the borrowing. Equity entails no such obligation. Estimating the co

Annotation 1469189590284

 #cfa-level-1 #corporate-finance #reading-36-cost-of-capital #taxes-and-cc Debt capital involves a stated legal obligation on the part of the company to pay interest and repay the principal on the borrowing. Equity entails no such obligation.

2.1. Taxes and the Cost of Capital
the before-tax cost of debt is 10 percent, whereas the after-tax cost of debt is (€0.6 million)/(€10 million) = 6 percent. Estimating the cost of common equity capital is more challenging than estimating the cost of debt capital. <span>Debt capital involves a stated legal obligation on the part of the company to pay interest and repay the principal on the borrowing. Equity entails no such obligation. Estimating the cost of conventional preferred equity is rather straightforward because the dividend is generally stated and fixed, but estimating the cost of common equity is challengin

Annotation 1469191163148

 #cfa-level-1 #corporate-finance #reading-36-cost-of-capital #taxes-and-cc Estimating the cost of conventional preferred equity is rather straightforward because the dividend is generally stated and fixed, but estimating the cost of common equity is challenging.

2.1. Taxes and the Cost of Capital
uity capital is more challenging than estimating the cost of debt capital. Debt capital involves a stated legal obligation on the part of the company to pay interest and repay the principal on the borrowing. Equity entails no such obligation. <span>Estimating the cost of conventional preferred equity is rather straightforward because the dividend is generally stated and fixed, but estimating the cost of common equity is challenging. There are several methods available for estimating the cost of common equity, and we discuss two in this reading. The first method uses the capital asset pricing model, and the second m

Flashcard 1469196143884

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For estimating the cost of common equity, we discuss two. The first method uses the [...], and the second method uses the [...]
capital asset pricing model

dividend discount model (based on discounted cash flows)

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There are several methods available for estimating the cost of common equity, and we discuss two in this reading. The first method uses the capital asset pricing model, and the second method uses the dividend discount model, which is based on discounted cash flows. No matter the method, there is no need to make any adjustment in the cost of equity for

Original toplevel document

2.1. Taxes and the Cost of Capital
l on the borrowing. Equity entails no such obligation. Estimating the cost of conventional preferred equity is rather straightforward because the dividend is generally stated and fixed, but estimating the cost of common equity is challenging. <span>There are several methods available for estimating the cost of common equity, and we discuss two in this reading. The first method uses the capital asset pricing model, and the second method uses the dividend discount model, which is based on discounted cash flows. No matter the method, there is no need to make any adjustment in the cost of equity for taxes because the payments to owners, whether in the form of dividends or the return on capital, are not tax-deductible for the company. <span><body><html>

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Are dividends tax deductible?
The payments to owners, whether in the form of dividends or the return on capital, are not tax-deductible for the company.

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No matter the method, there is no need to make any adjustment in the cost of equity for taxes because the payments to owners, whether in the form of dividends or the return on capital, are not tax-deductible for the company.

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2.1. Taxes and the Cost of Capital
l on the borrowing. Equity entails no such obligation. Estimating the cost of conventional preferred equity is rather straightforward because the dividend is generally stated and fixed, but estimating the cost of common equity is challenging. <span>There are several methods available for estimating the cost of common equity, and we discuss two in this reading. The first method uses the capital asset pricing model, and the second method uses the dividend discount model, which is based on discounted cash flows. No matter the method, there is no need to make any adjustment in the cost of equity for taxes because the payments to owners, whether in the form of dividends or the return on capital, are not tax-deductible for the company. <span><body><html>