The importance of mutual funds for individual investors has increased in recent decades. This becomes apparent when looking at the increased share of households owning mutual funds. These mutual fund investors usually want to receive a return which is above or at least close to the mutual fund’s benchmark. Consequently, investors want to invest in those funds which will show these patterns in the future. Some of these mutual funds receive much attention, since they generate extraordinary high performance. But the question that remains is whether it is possible to predict such performance before funds exhibit such outstanding performance. In the past, mutual fund investors focused extensively on performance or performance linked patterns, like the Morningstar star rating, and thus chased past performance. This seems surprising since performance persists only over a short time and is more persistent to weak mutual funds (1 and 2 star rated) than well performing mutual funds. Thus, chasing past performances seems to be a rather inferior strategy. Therefore, investors should try to identify alternative tools showing a high correlation to future mutual fund performance. In this book, mutual funds are analysed, especially open-end mutual funds and actively managed mutual funds. The main focus is on what purpose and usefulness active investments have and whether performance is persistent and what the determinants of mutual fund flows are. Moreover, some alternative measures will be introduced by explaining which attributes or methods should be used and avoided when selecting mutual funds.
An authoritative guide to the most up-to-date information on power system dynamics The revised third edition of Power System Dynamics and Stability contains a comprehensive, state-of-the-art review of information on the topic. The third edition continues the successful approach of the first and second editions by progressing from simplicity to complexity. It places the emphasis first on understanding the underlying physical principles before proceeding to more complex models and algorithms. The book is illustrated by a large number of diagrams and examples. The third edition of Power System Dynamics and Stability explores the influence of wind farms and virtual power plants, power plants inertia and control strategy on power system stability. The authors—noted experts on the topic—cover a range of new and expanded topics including: Wide-area monitoring and control systems. Improvement of power system stability by optimization of control systems parameters. Impact of renewable energy sources on power system dynamics. The role of power system stability in planning of power system operation and transmission network expansion. Real regulators of synchronous generators and field tests. Selectivity of power system protections at power swings in power system. Criteria for switching operations in transmission networks. Influence of automatic control of a tap changing step-up transformer on the power capability area of the generating unit. Mathematical models of power system components such as HVDC links, wind and photovoltaic power plants. Data of sample (benchmark) test systems. Power System Dynamics: Stability and Control, Third Edition is an essential resource for students of electrical engineering and for practicing engineers and researchers who need the most current information available on the topic.
As the demand for electrical power increases, power systems are being operated closer to their stability limits than ever before. This text focuses on explaining and analysing the dynamic performance of such systems which is important for both system operation and planning. Placing emphasis on understanding the underlying physical principles, the book opens with an exploration of basic concepts using simple mathematical models. Building on these firm foundations the authors proceed to more complex models and algorithms. Features include: * Progressive approach from simplicity to complexity. * Detailed description of slow and fast dynamics. * Examination of the influence of automatic control on power system dynamics. * Stability enhancement including the use of PSS and Facts. * Advanced models and algorithms for power system stability analysis. Senior undergraduate, postgraduate and research students studying power systems will appreciate the authors' accessible approach. Also for electric utility engineers, this valuable resource examines power system dynamics and stability from both a mathematical and engineering viewpoint.
The vadose zone is the region between ground level and the upper limits of soil fully saturated with water. Hydrology in the zone is complex: nonlinear physical, chemical, and biological interactions all affect the transfer of heat, mass, and momentum between the atmosphere and the water table. This book takes an interdisciplinary approach to vadose zone hydrology, bringing together insights from soil science, hydrology, biology, chemistry, physics, and instrumentation design. The chapters present state-of-the-art research, focusing on new frontiers in theory, experiment, and management of soils. The collection addresses the full range of processes, from the pore-scale to field and landscape scales.
Beginning with classification, nomenclature, and structures, this reference discussesphysicochemical properties of alkaloids relevant to the chromatographic process.Chromatographic Analysis of Alkaloids explores the main experimental factors affectingthe separation and detection of alkaloids in gas (GC), liquid (LC), and thinlayer(1LC) chromatography ... illustrates separation conditions described in recentliterature ... provides, for a given compound, the GC, LC, and 1LC techniquesavailable within the same paragraph ... surveys, in tabular form, the methods forsample preparation for chromatographic analysis ... contains over 1,200 up-to-datereferences covering the majority of papers on the chromatography of alkaloids... and more.Serving as a rich resource of practical information, Chromatographic Analysis ofAlkaloids is essential reading for analytical, organic, natural products, and forensicchemists and biochemists, pharmacologists, and graduate-level students in thesedisciplines.
Rewriting German History offers striking new insights into key debates about the recent German past. Bringing together cutting-edge research and current discussions, this volume examines developments in the writing of the German past since the Second World War and suggests new directions for scholarship in the twenty-first century.
This industrially relevant resource covers all established and emerging analytical methods for the deformulation of polymeric materials, with emphasis on the non-polymeric components. Each technique is evaluated on its technical and industrial merits. Emphasis is on understanding (principles and characteristics) and industrial applicability. Extensively illustrated throughout with over 200 figures, 400 tables, and 3,000 references.
A historian’s research skills combined with a physician’s diagnostic flair, exploring our timeless fascination with the unusual and downright bizarre people, events and theories in the colourful history of medicine.
This book constitutes the refereed proceedings of the First European Symposium on Principles of Data Mining and Knowledge Discovery, PKDD '97, held in Trondheim, Norway, in June 1997. The volume presents a total of 38 revised full papers together with abstracts of one invited talk and four tutorials. Among the topics covered are data and knowledge representation, statistical and probabilistic methods, logic-based approaches, man-machine interaction aspects, AI contributions, high performance computing support, machine learning, automated scientific discovery, quality assessment, and applications.
The importance of mutual funds for individual investors has increased in recent decades. This becomes apparent when looking at the increased share of households owning mutual funds. These mutual fund investors usually want to receive a return which is above or at least close to the mutual fund’s benchmark. Consequently, investors want to invest in those funds which will show these patterns in the future. Some of these mutual funds receive much attention, since they generate extraordinary high performance. But the question that remains is whether it is possible to predict such performance before funds exhibit such outstanding performance. In the past, mutual fund investors focused extensively on performance or performance linked patterns, like the Morningstar star rating, and thus chased past performance. This seems surprising since performance persists only over a short time and is more persistent to weak mutual funds (1 and 2 star rated) than well performing mutual funds. Thus, chasing past performances seems to be a rather inferior strategy. Therefore, investors should try to identify alternative tools showing a high correlation to future mutual fund performance. In this book, mutual funds are analysed, especially open-end mutual funds and actively managed mutual funds. The main focus is on what purpose and usefulness active investments have and whether performance is persistent and what the determinants of mutual fund flows are. Moreover, some alternative measures will be introduced by explaining which attributes or methods should be used and avoided when selecting mutual funds.
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