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The "highly confident letter" was a financing tool created by investment bankers at Drexel Burnham Lambert, dominated by Michael Milken, in the 1980s.Its objective was to enable corporate raiders to launch leveraged buyout (LBO) offers without the debt component of their financing package fully in place.
In 2006, A.T. Kearney CEO Henner Klein and the consultancy's management struck a deal with EDS CEO Michael Jordan to buy the firm back, and A.T. Kearney was once again an independent firm. [25] In 2019, Kearney bought Cervello, a business analytics and data management consultancy which had offices in Boston, Dallas, New York, London and Bangalore.
A comfort letter is a document prepared by an accounting firm assuring the financial soundness or backing of a company. [1] The comfort letter can be issued by a Certified Public Accountant declaring no indication of false or misleading information in the financial statements and that the company's prospectus follows the prevailing accounting standards.
The 5% Value at Risk of a hypothetical profit-and-loss probability density function. Value at risk (VaR) is a measure of the risk of loss of investment/capital.It estimates how much a set of investments might lose (with a given probability), given normal market conditions, in a set time period such as a day.
Expected shortfall (ES) is a risk measure—a concept used in the field of financial risk measurement to evaluate the market risk or credit risk of a portfolio. The "expected shortfall at q% level" is the expected return on the portfolio in the worst % of cases.
A sample of 1000 households with total investments equal or higher than $10,000 are interviewed to construct UBS/Gallup Index of Investor Optimism. [28] Mentioned above survey-based sentiment indexes were reported to be good predictors for financial market indicators (Brown & Cliff (2005) [29]).
In countries like China, as much as half the national gross domestic product comes from public-sector investments. But in the U.S., consumption is king. About 70% of the U.S. GDP is the result of...
Quantification of source reliability and analytic confidence [ edit ] Michael Schrage, [ 7 ] an advisor to the Massachusetts Institute of Technology's (MIT) Security Studies Program, wrote in a Washington Post editorial that requiring analysts to produce and include quantitative measures of source reliability and confidence along with their ...