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Most literature focus on comparing fund returns using a model alpha. A good overview is: Cahart (1997) and Berk and Binsbergen (2015). Basically you regress the fund returns on most common used factors (market return, HML, SMB, Liquidity and Momentum factors) and compare alphas after fees.


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The round-trip latency from point A to a matching engine at point B can be thought of being comprised of two components: $RTT_{total,A \rightarrow B} = RTT_{network\_transit,A \rightarrow B} + MPL_{matching\_engine,B}$ Where $RTT$ is the round-trip time and $MPL$ is the message processing latency (how long it takes to receive a message and produce an ...


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To answer your question consider the following example using actual prices for SPY ETF on 7/31/15: "hopey.netfonds.no" By looking at the last 19 trades that occurred at the very last second, you will see a notable price movement on prices. If you go to Google/Yahoo Finance the Closing Price for the ETF is 210.50 (largest trade at the close?) but the very ...


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If you have a friend studying at almost any university you can get access to WRDS. Inside WRDS just go to Compustat which has all the info you need for dates since 1950.


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There are two mainly (good) free sources available online: wolphramalpha.com Quandl They report the mainly market and fundamental data, so you will not find any particular fundamental accounting ratio. In the case you need particular ratio or data, you should get some better financial data provider, as, for instance, Bloomberg or Thompson Reuters.


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In a world of uncertainty no one knows what future profits will be (especially > 1 year from now). All we can do is estimate. Who should we ask? The company management has an incentive to give out estimates that may be too optimistic. If you ask the competitors they are probably too pessimistic. Fortunately we have a machine called the stock market which ...



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