Diversifying the risk through portfolio investment
The stock exchange markets are characterized by high dynamics of the investment activity, mainly portfolio investments. The existing relation between yield and risk, on one side, and the portfolio diversification, on the other side, are two basic aspects allowing the investors to build up a portfolio founded on the yield and risk targets which they are aiming. In the frame of this article we have applied the Marcowitz model on a number of portfolios of equities issued by commercial companies listed at the Bucharest Stock Exchange on the main REGS market.
Application of Markowitz Model on Romanian Stock Market
Performance evaluation of financial instruments has become a concern for more and more economists, while security trading activities have developed over time. “Modern portfolio theory” comprises statistical and mathematical models which describe various ways in order to evaluate and especially analyse profitability and risk of these portfolios. This article offers an application of this type of model on Romanian stock market, the Markowitz model, by focusing on portfolios comprising three securities, and determining the efficient frontier and the minimum variance portfolio.
The Invention of the Jewish People
'All modern nation states have a story of their origins, passed down through both official and popular culture, and yet few of these accounts have proved as divisive and influential as the Israeli national myth. The well-known tale of Jewish exile at the hands of the Romans during the first century AD, and the assertion of both cultural and racial continuity through to the Jewish people of the present day, resonates far beyond Israel's borders. Despite its use as a justification for Jewish settlement in Palestine and the project of a Greater Israel, there have been few scholarly investigations into the historical accuracy of the story as a whole. In this bold and ambitious new book, Shlomo Sand shows that the Israeli national myth has its origins in the nineteenth century, rather than in biblical times - when Jewish historians, like scholars in many other cultures, reconstituted an imagined people in order to model a future nation. Sand forensically dissects the official story - and demonstrates the construction of a nationalist myth and the collective mystification that this requires. A bestseller in Israel and France, Shlomo Sand's book has sparked a widespread and lively debate. Should the Jewish people regard themselves as genetically distinct and identifiable across the millennia - or should that doctrine now be left behind and if the myth of the Jewish state is dismantled, could this open a path toward a more inclusive Israeli state, content within its borders?'