\e a ay ofalletty av (Unwestnee K agiir expel liso) _— Thvestmerr —— L-cwoumt saying —_tnvestmenet is Hue -Ceumuuct conn) bm ened dollar fn a —_pesiod_o} tine inordtx to doive She sfuctuse payin + —That_wull_ compensate fou he cima» famds ane inves ted D_epectet_ yao of inglution clicing Sho period tuacentainty. of aan paymarts _@ Jnweat 3S ean A reklUun fram Savings due te heir UL Fecert conataup tion hy vant the rate af welusin wthich a} | compensate therm ft dhe time tepected -nyloctton » ——eancesctalindy of fuciec, vttsh flow ly called required rate of return? peseteseseeesneetnoeees : >The _rate_af xchorage _blw fut Wee comump town fo Wrens Cons umpdion in 40uma._o monty lo called pute Yate ef- ——_intomerte . => ua he dries invest epee “the change in_ price thon invest ill equine high rate of Indtwet ote corn pend ale, wise fice vate uf- wtb > Sh thes puter payments from. - investmands 0 net cectarn | ALewrand a i htCOL pote LWHhi chy ee eee BVI feet 1 Tate -UMewe aunty -of- ——paymant of intorest | callecl meminat mist Xtc -and Me additional Acer wams te to the mominal Asie fun. Fate - Jndeerat a Callyal ar hsee peymee > Mensur of calc of cetisen 5 = LAF sin the value of on investment own a gen ‘ttre paciod olding _peuied suum t= Ending value ot investrnanct Belo ning value sy dnvest nadoyids 9 WPA MR enn as wae s ts geo =a Molding, peysd_Vehd THY = eet \ tien sto} O49 2 trove O* invesirsys mo of yews fry) KPh = © “nye BS Whur aiee SGN -1 Ar ithyn etic, Meo 2p 2. WL: —Ctomedyic Mean’ (HR, Wily rere [inste prperd + figons yur Sac Yeon spony toner —_HPR, Cpt: Anveslinind ——redunn VA Yew Joo. 140 - I-30 “ — UW" fur S50 eo Oa deo =o. 144) =-0-230 130 AMe 0:40 0-910 2. 0-904 2 0-045 = 365 %0 _ - 2. a2 ; OM = (fea 10; 61)*- = 40094 J" Or 4agad =) > Invertos qu lypicodly tegceunsl_ “with tong. Ween perpen no whoa geometric rmnnony.ta Con ichxod a4, AUpCO ame Atiieg ss a tong lum msn of. Teun, stscomse Ir computes Ine ase ol en the yA» ——___ tan im beijing —v —_W—___ LLoO | expected Tad oF —_Arithm Chico _parovidlen good sedation of peti fie 0 a investment + i futiue Lndividual yeans. the based) —epwand Sf the Im uestnont major assess home usm purformowce. = = — = —_uthon_the Tote rerum Ay Adore fou al goats —Crn= fn —— Aut if aretuiun vase vai oun the | §_ dhe Cam ull Wu be Lenn than Am «Te diff. blo “he anton values wlll dtpemd ova Yeon cho _ycaye _chom.ge Total aunduut: invested by nestor = = Viol 1 ¢ CAmound invested Initially: in axsek T pea unit) |____‘Acset- wight LY called assed proportion cimoted by, Uae = Wiz Vito) ab > Wise = t=) - Y, 7 5 tO) AC fe Repurtorat % of Value of Ouse at nthe pottfolin at a Ame f=0 | 3 Wix Vouiation in Return: Risk ——eulagedt_by Variance + [oe __Stomndoud dleviatton + og wu Pet —> Risk 4— Lloss)~> principle ommounst isk. a dha_umceicnindy that om Ineatmansihi_teun 3 a tecesetaass PetuHin + , pe ee pail orn he Toitpe bball alae te alt oaslile-tehuuna "when Risk 20 #eobbi ly of possible return =\ Ire = oR OT a — tERt}-* 4 p GS — r __ Pap _porjeet Coutoinay allows ordy ene possidle refuse acl ti »_probobilily of sucleving that return=p »___ Pew _investment that provide cemetain repwun owe called. Risk — free vetwumn _ a _n_Oxe_of contain Au +wun thy 's only ome value. of fire y — y06 [Vouiomen / Deviations, =O, (wo pik) | SS —- Bist investment gs dn om oFeunading scemoiio at, ves ton 4 highly, ete ie ee a of retuwm _ : Pou to selter Ceutajn [aes 7 Risky a Se __thvestor choice a= ateinasive based om __Y Rik free Drvestment | Hair capau'ty « ; Cesky avorse) nvestous set vestinent= S0e opus quanti ustaind-y = OO Goce pati of- esi = eee fh — |} Jie Rn) Oe reser OE PR) cy, = 2208 (1505 = Peagsaly . : Vy = aA = Be ObF Tade_jt Callid rmenaure 4 Yelative vaniay lity jg do7 > Types of “Rick free Rode of Reluun (REPO) © Puss (Real) vite free vase of Return. — | ® Wominat visk free «vase oF return — DB Required vote of terurn (4) Real Risk fin vote oh returr Ds thy heute weturn_sadte Uuming no _Inflation ewd mo uncetainty of futuxe amd CoUed Hime Volur of nm : - ——EE——e Factor Subjective arad Objective. Trpluimen the ex. chong price charged blur cunursmt- goods amo _futime goods as ction wequbre al __ "vos Amana ii indi vicluols. thos ornng — vastly — OW — Mme. = > Ths obj ects ve factor rodeo of retin ts the set of Invessin et opportunities caviodubde inthe ecendny._ Adds dn tten —_—dabemined hy arocte of —Srouth-af-etornamy Jeb —§ _O_ Noyinal Bick ese ote of Returr ___werminal rate, Of Tedtmost that prevail (_Jn_the. _ ryndket Ae _____ daceunminaol ly rode Of return Be) affected by. t= __ Ex pectecl rode of snflation eS > _montouy Envirenment 96 the. nuendo. sep pri lesel 1 ng_inuetmont to increase » dh require. tote of sudweun Unis includes ameuat. of eon pern Sat on fore pected Mate of, —SiLflation so7 NRER = Ut RRERYUH Spt. Race = (Los)([-06)—! ® Monitouy Envirenminct 2— = : pelodins eae .Hahnuss in Capitol omnnssert.—Tas- purpose Of ___copita) onouket {2 to bring degtther inst UD wont to lnuent -douings sith companies /govt uh. ansod_Capitos |____ te @tpomn ol_ox finance budget —_lipicite. ee : The cost of —funadl_ob Oonydin an imuet—aeate—} the pri. _thite . cauates ovimenc Jupply d= dernasmsd fou topiias ne Hence Hue ts 0 Chong dn_ease/ High niss fr wk I$ _ | which 2a 0 thort Aursa fotiamula uduth ig test by termnpl ony rout equllilent mma —> Unnecepee seo choro ge in cmnomst oly | $4.8 Cah 7 |_policy uthich produce & chamge Sn MRF E. | @__Risk primiusn_2— Factors 2. oe : D- Buisness Risk o- — }——_Unceinintry sf inure flows cost by ht Motu, of. 5 J__ fhe comrain the incom Maus he thy firm }— = = les comoln 40 te inves tox 2) finamvat Risk i= Jn.uwctad indy introduced by the amethod by shih - = : Of Fike at finan, singof — 3. 3 gully Risk, 2 cuted ny Andro auce.d by ine dha__seu —_inMestmente. daverttest Snvesto ——Stewwuity inte Cash ad use the _procecol fou Laount—_ Coma mapdion. fot _araethen _/nvesdintaad + —_____— How ff. Je lo make the _onunes tion a2 yeunden Agus ae cleteumines 2 How fase all _jnvestmende tom | he Le bougne a ox solel 4 2 cei ceeeee 4) €rcnomge Base Risk fica ee eeeeeeeeeereees Uncewtaindy of eck unin 9 am. inwenchase utho pitt Ae st ites dememinatect in a Luu ana un 2 \__ more _volatil bls 2 countries Aeys orn Fain ; Politicos Risk — Ur winty of re Cnvirennmntnnt_ of the coant Vy. * fick premium = Guinn Rick Hremtiad Risk» Vouidiey Rien, Ex change Rate Risk 5 taumtry Bicie i =f [Aystumanie Risk) Systmatic Risk. AfLecteol hy mauket Conditions Risk conersure fox oon individual ete Undex Apoci fied Us 0% umditHoms , pl Hotonal -prags’ omaxlmizi Inuasis sam to shold Accwmulation | phase + eeu te “middle years 0 f-tuding —Cautise in ace wmulation_phase whom the Andi vidual ACC Uanelate assets 10 _sabity. Phair _/mmediate_oneods ex_longer trum goal. = et inv esmerd tia hotlyom and hi_futine_tasining. ability ——-he-conm_tmake high suisk investment in hope of ov omaking —__OU% _avevage nominal return, olidation phase :— Af}ex_omid foe aun ot whan fi tig —_______ptsuhttps_chaa—paiid_« '8 any, al —— Ee datmact al aphid. ecnauation to Rieti. — ___investin ent amal__Capital preacxvactt > ponding phase $= whem individual tere amd dhuels mo ip. 2ax ni ng_seypt penton iv dual i_eamaiovs aie his Capital 4 )a_clitire to. p vena coeminat ian of hee Sak Ovsealt —____pousfolioamight be deus bisky uct ctf) muada - some. ate zt. ig ptan:— senting = § phase univ individual has Shout tuum flea poe eee to_-fumd eps LU ch ak Jmpaugoud - him. onal impeutan® oh there goals -amd_ cle chovizon_-c high uals fruceted— as met contiolemed — 7 Pee Lone — = deen _bigh. priovivy goals. | ae te 19 — Fes made — n= high 2 Ee aed to mmtet thuse objected» UIE) houses, lority goal goals * a Nig de mest but mat critical |_“& Portfolio Mamagerrncan processes $= |__ process ad. ama Hooping apt flle 2 a centlntumud -penctéd — —teetisting of fol aing_te Polly dPackemenat D Exomine uw cud peajected pioamdal_, ecenemical MHical amd dotiat tendriiens - 3) 4 lenemszra_plom ty enstructing dhe poutfollo 1) feetdnede Tesh seaman ade sisPaaa a a |) Policy tacdememts +O 1¢_a_oadrnap_in_uthich the inveszous Apeclfy Hype of, Wek here willing ta take ~amd NE inves trmenct_goals dad _-comactre a ch Chame ing oun imo» anal peinctically Hunived cml __updated « &C \y 04 Ags dutrowe She actin. ted nots —erade_of _inplodion... vs. 18.~ Phe. cd 9 Jou 2 __jnvesdors 0%. short. Kam. risk guise. ite Pypteciacion : i wlhwe Taniou ious the. pout folio to quow in real tous owt Lime Ahsough capital gain o_o the. futur ood + £ Tino = hn | “inyadioe_ausink “port. a coneant- ___rode_ on _gemenoting. Income _sothex Shon capi tos atin a Ta pa fp aah Sar ants she poutfolio doguo aratr +, oth. (aelal pin fimendog citend Income ina | fut er ongod __ - = 0 Liuidiy constrains cs —Pnroaset ie Liguidl spit could be quickly. conve verted to cosh adn peice clete to afin ommend value ___ Tvs, tous _rnsug home Liquidity ented . — | @ Time “horizon ix | close velatomship 20st tlw an_jn ; _ fg ipuitity ue obilly to hr cmt tegee more Liquid 8% Less oicty dnucstinemat becasue, dee dp_oun come dusting Soe megan a et © ar coun = : : a» Is U PD hoot Sequlatony -factous — DW Beth invest rend ppOccas & finomvn processes arco. Auk f! F ~— requested _& shy eck to_mumenous Las» These legal pe fortes comstrod nds tho Jnwstmond strodegy. because po me the ith, Subst enrol Uigurdrty P © Unique oes sy pleforoness ae Di Discouen, athe individual —amnel Do each invsssousAhat pA inward «fo _-pusonad _-preferance oe for thuir 4oclos pe eres ness 9 Diversification op port folio s— = 7 he inarncial opportumitres ame available sn mauket, jp Sepnarmcaevaludionn —{t_tech nological ExPandod tiading oppoutuwy dy — — — y___ Zn provermmdé Yh Communication relaxes en Lo I ncteened y—vequladion home _omade th fou _inustos 40 trade Jn both domestic % Hobol omawlert. __ SS 1 Thou 250 oniad chy built divesisted pe Hh Folio fox an inueston 1 40_oninimize the poutfolio_oick by acquiring <4 Qudup of — \ outinuct ill aie patns af. 2thantae Benes! "hows setsins cam curtain invesctmen. bb ofped~ by obone | 4g suds on" h 4wae AU is 10_fuild_o hol guaced. eae Tess hy. Arlaavial Corporation public 7 utilidy Couporadiion che. ra).ce fund te invest —__ in_plommso4_epui pmen/s.. — | ALL bonds includes sindincturre legal -agcermunct—Hthock is . Hho ebb gacti om YH J sour te. the _~hond_ Aoldey - ining ppt Ache fai =#nd_sinking _fomels_—s_— AU provisien — pei es open a_coll - oe , Ot which ime cum bond holder pres a Aonds_Ae the Lssuing firm uthids a thar. _ Singing | bond 2 Sinking bomdptowisionn Apacrs'es the c peyimurdh which jSSues amuse Ove bo. give_cCormn ped adi Om. Ce) if May ald Joy da before mmatusidy ~fh lieu 2 outstanding et ee ee+ “Codgaries Conporare Bonds __ - a Chased on contractual sprom|ces_ oto Hh. “inveslors). 9 Scewred Bond ee Mest dewior beoveds dn sfirm coy vital_structurevamd le shaving oust ASR of Uctresas ot obey ult. _ eee TRY include Aecwed /Seues based! en ausete whith Oe —Alocted ( plashed) orn specific» eee * Movetgage bond t- Anos whee domd emdl_building , Hn case of alt oth, proceed fee. coh of amet aue Used Fs. Sifyp—mortgage, 7 Collotenat Boncls — Barkecl financial obsess. Sams Thust Courificabe += Seamed by 1 tromportasion asses uthich _cormparny holds, —@__pebentwu Bonds 2— bebomdues ‘Sua pl se to Pay JL ndeseonts 4p pads sbucé _company enst_pronmise Onmy Specific apes urhion cleft . —_pehtoe ome how Lot call on” eastnin Lf Cempanany carod coy assis which anet plashed by firms as backing pas Semign 3euwnod bonds. _ © _Subordinats bonds t= Similan to dibemsus - dr coe of _ _ chi ou huy. Aaue_claimest to ase ps firm only afte firms hou Sodtisfied Cla ry, Of Sen or -ddcutee =d_omel_dxbevtonns bond holders. 3 Gnome Bonds s— Interest td lute md, payable only if a issuers eatin the income fo make Hhe_pay mena Atipulloted lade + Capeu'fied)neo] doy ind Of caja ___fhvendors “Comanet olla 3 Comnpowwy, ——dhe_Indowst payments reer auens_Jh _Aubseguec thy 0m 1k musk che palsl-¢ Rea nln es —— rt 0und Sema et_-foyy rads = Convertible bonds + Ayo choy shot dntsnant a principles of ofa. onc. uuhich dha dit featwass that bond Flee — has option do suum sthe bond tn exchange of Hs Dnstend) ‘ Waxnoud ds om _ opi all berd- vichase He firms Commaen stock from firm specified prite at Ceutoinpudiod .- eduvakle uhlth Lous ts supuired yield. (i Buso- Coupon Bond Worl Se as race Rhee meaty but only. ae priniele aad me by Meee, —— _{ uxthase price of bonol 44 preseut principle | pay bate ee ” 7 Prepevud Afoud .— Pou natal wy dividimt > met legally binds’ Bo ers payee ae o ae _ ormmern toc _divident, Unpaid dividends ae. snl hel Corpor ati ova —-cam excluded sf{—etntrns an | |_ Sov.i drt national Bonds 4 levrowinated te a Lun cy —D_cune bend i met mative to tha coumriry who ke (8 Se —D_ Youre bondi-Sold in dhe VS clememinasesl vin US clollv -tsue ae cy -poieys govt /corportron. = metic duual dy sure unlthin ls oun coumtry in that Cou TY twwtlney ee Primo uket 49 these ew secuseityes xe _gold_-amad —* Secondany Muuced uheu oucstomeing_.S ecwuities we bougnt Th primauy amauker = mnuw C5005 ~f bond 1 comanen/ pee peru : |_Stecks -axe dolel by gout. units who Wows to. cxpure ou i Treaduar Wore 7 a het tg perivct 210-05} a >Freasven—Bill C<1-yre - - fs Sates eee aa C0 Vere) : — Munciple end _4_ old Mayet = : Y_cormp etd dius Did —> Cominm ig taken), == 2) -wegotioded fale 5 » ii Place ment 4 _—t Corporate Rend s_2— : = —Sold__-througd megoltated sdote SS a—TAosew'ssuss wee -Amest Lolo _ through ; —iwachtith am Jnvest ment boring flrr. Shad %nedntaina —— relationship duith the iceuing from. snv- bombing firms ——femerte fdr undey ursiting buisness ORANG. mad ——— tliat authich appeal te dhe dnvestora amd “by -aol wily —Abutr Hugaucling. _adtsirable agentes. — Bae srs we typically tundeuitin by Shu: bomleing Fi LK she —apuire fe teteljcsue fem -compomy ond eld —4ecuitier te Jnitecated dnvesder Lead _unolaumuifon gives | dice cho inv. em geeual wehanactenstion of i eto | ——Ptlcing aiming camd_vi'srt_potmtal -nsht uhonoL by auding meu S804. _ ——s | —Secondany amoulcee pit tading._in oudstamding ASS Ues | 1s bond / cine, alrady sold 7 _pubbic. |The proceeds fuom ane win Se condany qoanket aa 0st —ge—te_issuing unit vbut to the -cunect inves hor _wAs- sda. Sean dlany ane provide —iquidlity obo inolivi'd etats _vsho_ aguwite__. securities amol_uulhout: CE primary mauket_urhowld Ah Ome. |—Provide much highen eb udian to compensate dav erdits. Secondary bond powered = ~F Corporate Mone Ane Hadel gua othe “count hy. otaolensHenge dnvestmenct homing _ofttns Aho Unadviuate The “eisee— endl no wsE——— el ty Stoke cage ——— ~ Thirel Monleet a pri isting mraukers. 2 forum PXchanges/ evant oe “sta stock ts _primiany Usted — St includes NSE_ ba 2? Regional SE bane dome apexscting prnceduae -as n2seAp O _Counnd.ry oss_Strig sisting ‘adling fa facilities fp local conpam(es ahh ole net mine Histing in mse Sirens vanichone ste rena oy pert oc ea 2) Third Met involues dialves amo bros chs dial -dhawes cham 7 Auoy_fusta_exehomge. * Trading Systems t= - Re 7 Puue Allocahion hast eet} |____Dealesr Mauleee 7 ordn duiven Maricet fn * Quote AHiver, market urhece pick neaated Uges P ced a! JIndividual provide witli por —enl sel Submit the | Hinvertous by buy and selling bid Jae price ous giver| 4SEEK cet CUAL. slocqhar, wacse — Salud ane matched dy dhe —— broke the. does met tuum othe SEK bud act as ~fadllited? ng__| — Yew « Shows of the bue sake ola te the fawester —S_urho has highict -bict -——prie dard bought Avem th . 1 a : ee phases of stock. -fuem, Shesae naa. thtwe aue many -dalug ute te 4 Comptke Against Continous Mawket dade oy urhete 4 occurs at any o_dusing ite 4& Aasignment: Q-1) weit 2 "i mp fee te ar Od define ha cla fea supp ‘pw horn 00 opanples. Ne aie BC when Ab Ms art. Je bt, i 09. dad ca sy purceete sh ya al ade fs sy 2, 5b el we ont aso Has ie aud $7 yet fin OI jy) LysU ago, 300 shows XYZ : fe I ee bs a In Of 604, co otek & sell 1S$ 0 chore Fao ws _dovrdlond Chomts y Vraik, ord was at rape ee TE = and haw, sag ee wselg uted} ty: ( Q Stockg ae a cl O20 orien. havea outstanolig Pp —. 20 40% Qo RO 20,00, 000 R + Va) * 50,00),000 3) pec 02 Pop B20) 10%” q> 45 » ‘Y;00,000 R> 4B “abe teeth Comp nl tee bb coc Nader aia ida val Sail Prien Fe nee wwe on awhigal oe> Mandck Palos Ondo 8 orden 44 MIKE Onder which cee na Guueston vohe- zon, a, market sel ae an Ese ay inaliaes tJ We i ele Bt aa = —> dumedtate —— SS a Maul Oe ial a Lemih owl Heaps Be BS 4) rc i Tal 23 side. ol fs par ee: eo oxen: 2 at o wnditiouss! wukh ord > a tow Oise AN eo 2 ba beue sea, he othe wants “ghet Re eat Yo moun Ii ee itt Fp vows Yall f= ip¥ Moxgdn Thana : When i en sy pau sta wth ‘the + anal Supra je go bank +157 > tak he ; | about 1y below te pene raty: geet Poplascalh'y Paved gS WrOPD fi con be boybinel- a —> Mongar siagibbeanents CO be 26) = YO). ap Manan Call . (asl 269) ‘ee Mg a a aE tk he jis Ueabo of Baan pais yu poin wine j taper ais A, tan Und Patan od fhe thw Mp eae odyoure mere favon 4 se doesnt ee we allow Time cal tf ba mel Mohd aukt sph tl fim ae Qe Sappose: a +o Nwet: is ols 18 fe. din Ue Soquel Amt stock £45 SbCA nl vasa bre (wo ina tock, baa Y a ie 44 = oti vhate . \ Prcoy “igre yes : owl et ae ib pcos @ nous “Hat Wp Bee bu Ro te aad dum poston COA (D Moai leu 7 b) Neclings to Ae oo 46,000 [09 Pc yam a 6666. > 8 agshaus ait Bos! Max" lw 3 Cor so ts (oo Xx SOD ~ YO, 000} | = 25y, 40/000 j RoR (voxsee tase 4b Yopoo ea) j1 26%395% P= 33, 5P— 26666" val RD ¥ O-6x= 40,500 é ( Magi call ) 633 chaws : 2666656 Boh: 1yOX O33 — Heese = Y) 46 of profit “0000 N0X833 - = 666656 - 3337. Lon - YGoDo bun: Jou buy aioe of eng Si rangi tahun the. Stock ne aa | ahah, Bupkoy cha. Aw cathe partie | SR ona. calke sz Ona S oat li Shae Ond bp es sex bon 279 shot fs _ ROR Ou XY COmpeer. > Birt 20 > Moxa s aie ‘gee. 1100 > powawed - "300 Comunisien OM purchases Six Hee Qood a & RoR:Pluidend 10-5 x}o0=s0 selling Amat = QT M1006 = 2700 Arto = 90 (<1eo —g92s0= 8 a)-1 ee Bl eee, eT > «Shon GOk: Mest Liwesto ; i Moet inueclons pancho atch St ree ft tat Beda of ae ligated jn the fue. You Coe Nt, sence Cher, cole ts Ho, aibe acto hah fous oe Nat pwn was the intent psa t lar he Dousen pret” , quotes (Wr ALA sel it An the wrath \ ; cool lace rt Be Lubes on CA tek qe 409 olividord olue fo Purchseel Sheet sale stock thot oe of glgnt sks cate Fahe— Ohoxt seller nut pa “flue Saute “aan ds an hw: ute had wlice.of faa aio wate teu be la vey of ote opts EN Quy Lennala sede ouded by Ww -Poueunb = & "4 Mogi» Vahw se ned = Cosh eeelned + Moxgin dapesilid H-) Value of toch,Maelot ren : % Dawestors with “the Conpesita o muestinont poums hour | orecrted dua malintnned tock waatke dud bond raaklt /ndeces S sigwiplenact Uses: Da Index value tr compute teal Nr sick menses fo" od ge ouankel of Si component. 6 Ale speaficel dime penn Swar Use: The intron ALR 2 ele ence fe tefl see “dnd ividual’s podtpots : : © Cute arr index poxtzotle, dince mort Oe ae Wited | balls 3 ni aaa ig dei fe chyA) fon the Aechnitiane whi bie peat: price Chou cau bo wed predict futur prurce 5) pint a 1” individual a TAL: Samuply whe te. usta pinkie an CAB heb ie afeenea hele Youle ~ Oe hapbet iaporiau he aN le Supls Members : . oa hea 9 the caucple has dud 4 weit seleviabl oat used: ; @) bated ndox 1 leat Goes rc See aa bted idee —___> w) i) Farben2) Computational prceduse: eithn AMithweie Mean oF qe Meau-. (Pris ob tires t) (toni Value welghbed Srolr' ze Qe ind ander) d A O, ee Coa “ob ea Poa sey Index bm Pi { es tipo ra ye elie? Pred we cos I on ede oa Bed Ind ro dbinly elect stock fe | Ree Coot See lai nh rae ik Hebert eed es wewwwewnw ewwNPR — Awhhmetio Mean WPY > Geomebte MeauH | Indien Cet rie too. - 1) HPY : Ge S= a | =22 04 HM: 20 = 0-25 ea HPYa; Jo 4 2 20 20-4 So eo => Ariihmus mean: os33 — dndlex Alahuw at a toms ep. HHO.LS mes % )-25 = C8 => Geomebue Maun: 1-244 hy Indo: 7M peli eis them ip cb “fas ya tpg schoue ars pudicater ab applied. | te aby nokosit, icin ie aeTybs o% dada: ‘_, Slgle Index. | Aub reint series wid Be BE We foi tac ag in Coroasti Catt Walue teks: ia ae cbuibined (ete -2 acto: Sipe wand 6 le cage + Globat dw Grave: wt “ pe wba 1 Thane, Mt opie, ON ek : it eae “etek € 1whah, LOE el ey Saipet Stock oe ey Oey sis Der Siena) ge epi Ee mee ans qe fudor) fiat +2) Mong atinativaal htennatonaf 64S Cont iy onde Lied on, Hoh Caen cg ” Lsed © 32 couutn Co i eS Se“k _Bond-mavket dndex: veer Spec a po crate bowd wkr » Unlvertse ds ~S characteristics Chaeging, « Becaux wun letlees > olatty s ‘duvation ushich also Govt] Municipal “Bond drdow ia etbik- bined dda eT Nadloxes oud bOvd~indexa Wdbielal couuntnes: Hue Lh ob onthe hase, wohl, nadiasy “tos bide Slt ee 7 ARR RRA RR RMA RR RR NMA A LK