compounding on wealth accumulation. • Explain the benefits of diversifying investments. • Explain the risks of borrowing money (or leveraging) to invest. • Explain the effects of cost-averaging when investing

has long been assumed that in times of market bubbles, rational investors, which are able to on average, properly discount future cash flows of corporations or other financial assets are consumed by

“intelligent” financial planning decisions during retirement. A retiree faces a number of risks during retirement, some of which are unique to retirement planning and are not concerns during accumulation. These

2 Background • Development of investment portfolio theory • TPT, MPT and PMPT (Lekovic, 2021) • Modern Portfolio Theory (Markowitz, 1952) • Rational investor • Multiple Assets • Overall risk • The

Investor • “...the 2013 Nobel Prize committee split the prize between the two camps [of rational, risk-based, efficient markets versus behavioral, irrational, and inefficient markets]” – Asness et al. (2015

of voluntary information disclosure via social media, firms would be facing incentives to only release positive news…but do they? • Trueman (1997) proposes a model showing that rational managers also

2020). Can have multiplier effect, creating employment in non-tradeable industries and local economy (Chodorow-Reich et al., AER 2021). B. Investment Accumulation of investment assets can further

rational and consistent with similar transactions Costs that do not meet the definition of “incremental costs directly attributable” are expensed as incurred (e.g., listing fee, roadshow costs, tax

”). Enclosure 3.3 Rational and background of the transaction As the conglomerate has a new business plan of 100% battery electric vehicle business, Rich Asia Industry Co., Ltd. (Subsidiary) will be the

-month accumulation profit before tax in 2017 is higher than 2016, this is because the group receives benefits from BOI for solar energy. The analysis of operating result for three months Statement of