Flashcards in MFE pre-course Deck (32):
What are the top 5 best M&A Advisors?
#1 Goldman Sachs
#2 Morgan Stanley
#3 JP Morgan
What share of Mutual Fund and ETF Assets do largest 5 players have now and in 2005?
50% now and 36% in 2005
What share of Mutual Fund and ETF Assets do largest 25 players have now and in 2005?
77% now and 69% in 2005
What did Robert Shiller show?
That stock markets are excessively volatile using price to price feedback to explain stock market bubbles
What are the most significant reasons hi tech fims IPO?
To establish a market price, enhance reputation and attract analyst attention
How many annual IPOs before 2000 and after?
310 in 1980-2000 and 99 since 2000
What has happened to VC exits?
M&A to other firms has taken over compared to IPO
How much does a share need to be undervalued for a bid to be made
Who tends to receive the valua of M&A?
The target tends to earn money, the acquirer tends to lose money
What is grossman and Hart's argument about takeover bids?
They can only succeed if full value is offered, else the shareholders would not sell. Hence, target shareholders will receive all the value
What was total deal value of M&A globally in h1 2018
USD About 3*10^12
About how many M&A deals took place in h1 2018?
What was total deal value of M&A in US in h1 2018
What is the largest M&A target sector in h1 2018 globally?
Machinery, equipment, furniture, recycling
What was total PE deal value in h1 2018?
About how many PE deals took place in h1 2018?
What is AUM of top 100 alt asset managers
USD 4 trillion
What is largest alternative asset mgmt asset class among top 100? Second and third largest?
#1 Real Estate (USD 1.4 trillion)
#3 Hedge Funds
What is fee on inst. funds?
Less than 1%
What is usual fee structure for hedge funds?
"2 and 20"
2% on the fund, 20% of the upside
What are the 2 largest hedge fund sectors?
#1 Fixed Income
#2 Equity Long Bias
What is total Hedge Fund aum (Q3 2017)?
USD 2.78 trillion
Ranking of inst. sectors by AUM?
#1 pension funds
#2 Mutual funds
Top 3 countries by AUM?
Growth of US mutual fund AUM over past 40 years?
What was global nominal GDP in 2017?
USD 80.1 trillion
What was global stock market capitalisation in May 2018?
USD 86 trillion
What was global bond market capitalisation in december 2016?
USD 92 trillion
What was US house net national wealth in Q1 2018?
USD 100 trillion
About what is total derivative notional amount?
USD 500 trillion
What is the largest stock exchange by market cap and is the market cap?
NYSE, ~23 trillion