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General Desclaimer
All information and financial analytics on this site are provided to
demonstrate the ease of implementation, deployment
and the practical functionality of Macroaxis Wealth Management technology.
No warranty or guarantee of any kind, expressed or implied, is given regarding the accuracy
or completeness of the information provided on this site or by following
links from this site, and under no circumstances will Macroaxis Corporation
be held responsible, or liable for errors, or omissions resulting in any loss or damage
caused or alleged to be caused by information contained in the material presented
on the site, including but not limited to direct, indirect, incidental,
special or consequential damages caused by using the information.
Data Used
Data utilized by all availible analytics, as well as all the information it communicates
should not be used to make any investment decisions or recommendations without independent research and due diligence.
All sample data including market prices and fundamentals is provided by 
© 2006 Yahoo! Inc. All rights reserved.The data is believed to be accurate, but is not guaranteed or warranted by Macroaxis Corporation. This site is intended only as an informational tool for your convenience, and should not in any way be construed as investment advice by Macroaxis Corporation. Site Usage
All material contained on this site is used solely for informational purposes.
Site users should conduct their own independent research and due diligence and
obtain professional advice before making any investment decisions or recommendations.
Macroaxis Corporation will not be liable for any loss or damages caused by any
of the information obtained from this site. Analytics
Financial analytics including implementation of Markowitz Theory and Capital Asset Pricing Model is provided
by WebCab JavaBeans © 1999-2007 WebCab Components. All rights reserved Relative Score Interpretation
We use a 'naive' approach to determine the relative score of the portfolio. Since most investors use various time
horizons, have different tolerance for risk, and hold different number of securities from different industries,
you have to be careful when interpreting the relative score of your position. Think of your score as a naive
interpretation of where you position stays in relation to smoothed position of other investors. As our investor community
grows we will adjust the calculation of the relative score to account for individual time
horizons, different tolerance for risk, sector and industry allocations as well as number of securities
in your portfolio and types of financial instruments.
Security
We make every effort to protect the information provided to us.
Please be aware that we cannot guarantee the security of any information
transferred over the Internet. You do so at your own risk.
Use of Personal Information
We are committed to protecting all of the personal information
that we collect and do not distribute this information
to unaffiliated third parties.
Affiliates
The affiliate links on our site are listed as a convenience to our users and we take no
responsibility and give no guarantees or representations, implied or otherwise,
for the content or accuracy of third-party sites or for the services they provide.
ReferencesModern Portfolio Theory From Wikipedia, the free encyclopedia Learn About Modern Portfolio Theory (MPT)Markowitz, Harry M. (1952). Portfolio Selection, Journal of Finance, 7 (1) Sharpe, William F. (1964). Capital asset prices: A theory of market equilibrium under conditions of risk, Journal of Finance, 19(3) Lintner, J. (1965). The Valuation of Risk Assets and the Selection of Risky Investments in Stock Portfolios and Capital Budgets, The Review of Economics and Statistics, 47 (1), 13-39 Burmeister E and Wall KD., The arbitrage pricing theory and macroeconomic factor measures, The Financial Review, 21:1-20, 1986 Chen, N.F, and Ingersoll, E., Exact pricing in linear factor models with finitely many assets: A note, Journal of Finance June 1983 Fama, E. and French, K. (1992). The Cross-Section of Expected Stock Returns, Journal of Finance, June 1992, 427-466 Black, F., Jensen, M., and Scholes, M. The Capital Asset Pricing Model: Some Empirical Tests, in M. Jensen ed., Studies in the Theory of Capital Markets. (1972) French, C. W. (2003). "The Treynor Capital Asset Pricing Model", Journal of Investment Management, 1 (2), 60-72 Lintner, J. (1965). The valuation of risk assets and the selection of risky investments in stock portfolios and capital budgets, Review of Economics and Statistics, 47 (1), 13-37 Markowitz, Harry M. (1999). The early history of portfolio theory: 1600-1960, Financial Analysts Journal, 55 (4) Tobin, James (1958). Liquidity preference as behavior towards risk, The Review of Economic Studies, 25 Treynor, J. L. (1961). "Market Value, Time, and Risk." Unpublished manuscript. Treynor, J. L. (1962). "Toward a Theory of Market Value of Risky Assets." Unpublished manuscript. |
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