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All posts for the day September 30th, 2013

Bond Equivalent Yield (BEY)

Posted by Bill Campbell III, CFA on September 30, 2013
Posted in: Level I Fixed Income.

Because a large number of coupon-paying bonds make their coupon payments semiannually (e.g., US Treasury Notes and Bonds, and many corporate bonds), and each coupon payment is ½ of the annual coupon (i.e., each coupon is calculated as 0.5 × annual coupon rate × par), the default yield convention for bonds is that the annual […]

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Commodity Yields

Posted by Bill Campbell III, CFA on September 30, 2013
Posted in: Level I Alternative Investments.

Most investors interested in commodity exposure do not get it through direct investments in commodities; they do not buy physical oil, or wheat, or gold, or pork bellies, or whatever.  Most investors (including mutual funds, ETFs, institutional investors, and individual investors) get commodity exposure through derivatives, specifically through commodity futures or forward contracts.  We’ll concentrate […]

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CFA® Level I Membership

This will give you access to this and all other articles at that membership level.