Du lurer kanskje på hvorfor de lange og korte posisjonene er ikke lagt sammen for å representere den totale prosenten av fondet ressurser investert (en eller annen måte) i amerikanske aksjer. Men husk at korte posisjoner ikke representerer aksjer fondet faktisk eier, men heller aksjer som det må erstatte tidligere salg. Med andre ord, i dette eksemplet ovenfor fondet i hovedsak skylder, eller må erstatte, aksjer tilsvarer 12.41% av sine eiendeler. Det er også verdt å merke seg at inntektene fra shortsalg holdes i kontanter, bidrar til dette fondet betydelig pengegevinster på mer enn 30%.


Andre eksempel: Fond som bruker derivater

Aktivaallokering rapportdata får enda vanskeligere for fond som bruker derivater, som gir en måte å få en eksponering uten å eie sikkerheten outright. En obligasjonsfond kan bruke derivater for å sikre renten risiko, eller en råvare fond kan bruke dem til å gi eksponering til en type vare uten å faktisk kjøpe og lagring fysiske aktiva. (Du kan lære mer om hvordan og hvorfor midler bruke derivater i denne korte svaret artikkelen).

Morningstar behandler derivater som eksponering for underliggende aktiva. For eksempel får et fond som holder 10% av sine eiendeler i US Treasury futures en aktivaallokering som ser ut som om det faktisk eier Treasuries selv om teknisk det ikke har tatt levering av dem.
Futures at eieren av en kontrakt for å låse i fremtidige kjøp av et anleggsmiddel til en pris som bestemmes i dag. Vanligvis bare en liten prosentandel av kjøpesummen for verdipapirets må betales først med resten grunn ved levering. Mens futures representeres i fondets aktivaallokering diagram som om den underliggende sikkerheten var i fondets portefølje, finnes også en utligning likviditet representerer kontanter som har vært forpliktet til kjøpe sikkerheten på et tidspunkt i fremtiden. For lang futures posisjoner behandlet utligning likviditet som negative kontanter eksponering mens for kort futures posisjoner det behandlet som positive kontanter eksponering fordi det representerer kontanter som skyldte fondet fra salg av kontrakten.

La oss se på et eksempel på en obligasjonsfond som bruker derivater og hvordan dens aktivaallokering presenteres. Nedenfor er aktivaallokering diagrammet for Federated totale returnere Bond (TLRAX), et fond eie fire Treasury futures, inkludert en stor lang posisjon og tre mye mindre korte posisjoner. Lang futures kontrakten er regnet som en del av fondets totale lange obligasjonen eksponering, hjalp push det 147.1% av fondets eiendeler. I mellomtiden presse fondets kort futures posisjoner negative (kort) bond eksponering 21.84% av fondet eiendeler. Resultatet er en netto bond eksponering på 125.26%. Fondet har også 29.16% positiv kontanter eksponering og 54.84% negative kontanter eksponering (Husk at kontanter forskyvninger og futures vises på motsatte sider av). Dette resulterer i en netto eksponering av negative 25.68%. Sluttresultatet er en portefølje med en netto 125.26% bond eksponering som motposteres (hovedsakelig) av en negativ 25.68% netto eksponering.


Derivater og aktivaklasser

Som beskrevet i Morningstar's "Shorts og derivater i porteføljen statistikk" metodikk dokumentet, knyttet derivater til aksjer - inkludert futures og opsjoner på enkelte aksjene og lager indeksene - regnes som lager i tabellen aktivaallokering. De arbeider med obligasjoner - inkludert futures og opsjoner på obligasjoner og langsiktig rente, og de fleste bytteavtaler, faller under Bond. Futures og opsjoner på kortsiktige renter og valuta, samt kontanter forskyvninger for andre derivater, faller under kontanter. Futures og opsjoner knyttet til varer, vær og volatilitet regnes som andre.

In honor of Earth Day 2011, here are the Top 10 Environmental Scams:

1.  Global warming alarmism:  Predictions from the early global warming alarmists that the Earth was rapidly heating, and would suffer untold damage as this trend continued, have already failed to come true.  There has been no discernible warming since the mid-1990s.  Coupled with Climategate’s disclosures showing bias among key scientists, and the UN Intergovernmental Panel on Climate Change’s laughable report predicting melting Himalayan glaciers, with no evidence to back it up, it is hard to accept the global warming alarmists’ constantly changing theories as anything other than hysteria.

2.  Earth Day:  Earth Day’s solutions to save the planet often include calls for stricter government environmental regulations that would strangle the economy.  The Washington Times was right when it editorialized several years ago that Earth Day has “anti-business overtones and [a] message of guilt and limits. … Earth Day is a global guilt-fest that views the future with a sense of dread. … Rather than increasing their productivity, people are told to decrease their carbon footprints.”

3.  Cap and trade:  The cap-and-trade legislation that failed last year in a Democratic-controlled Congress was a maze of environmental regulations that would have resulted in lost jobs and an energy tax for the American people.  The Heritage Foundation estimated the cap-and-trade bill would cost the economy $161 billion in 2020—$1,870 for a family of four, rising to $6,800 for a family of four by 2035.

4.  Green jobs:  By giving czar status to Van Jones, Obama chose an ex-Communist to come up with a plan to create green jobs.  That pretty much tells you all you need to know about the economic viability of such a government-subsidized enterprise.  Spain’s attempt at actualizing a green jobs revolution ended up costing the country more than $774,000 for each green job created, according to a study from King Juan Carlos University in Madrid.

5.  Environment activism:  Many environmental activists are as eager to denounce capitalism as they are to save the planet.  Their activities are often aimed at preventing the development of abundant energy resources in the United States that would help the nation move toward energy independence.

6.  Hollywood hypocrisy:  The Lords of Malibu love to preach about saving Planet Earth from the evils of corporate America even while they dump tons of pollutants into the atmosphere from their high-octane cars and opulent mansions.  Memo to Leonardo DiCaprio, Harrison Ford, and James Cameron:  No more lectures about reducing our carbon footprint until you ground your private jets.

7.  Wind power hypocrisy:  Wind power is another environmental dream that has proven to be too expensive to be effective on a massive scale.  And even environmentalists can’t agree on where wind projects should be located when it soils a pristine scene.  Members of the Kennedy clan opposed Cape Wind, a wind energy project in Massachusetts, because it threatens the view of Nantucket Sound.

8.  Carbon trading:  The attempt to set up a system for trading carbon emission allowances to thwart global warming gave purveyors of alarmism a way to cash in on their hysterical ranting.  Former Vice President and global warming guru Al Gore founded a private equity firm, Generation Investment Management, which trades in carbon offsets, and he made a fortune.  He even purchases carbon credits from the company for his own personal use, which comes to $30,000 a year just for his posh Belle Meade mansion in Nashville, Tenn.

9.  Greenwashing:  Greenwashing is a term used to describe companies that use marketing to portray false claims that they are turning green.  Usually these companies spend more on advertising than any real effort to save energy.  The next time you see a hotel room sign promoting the reuse of towels to save the environment, recognize that it is just spin.

10.  Al Gore:  Al Gore transformed his movie An Inconvenient Truth into a mega-money maker (see No. 8).  What is truly inconvenient about his Nobel Prize-winning film were the 11 falsehoods that it contained, as determined by a British court, including the misleading suggestion that Hurricane Katrina was caused by global warming.

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I would like to see 1 or 2 lines of the comments displayed in the code navigator

The minimap, if selected, should replace the vertical scrollbar. Only minor enhancements would be necessary to give the minimap all the functionality of the scrollbar and this would save space and look neater. If the minimap is not selected, then the normal scrollbar should be shown instead, but there should never be both scrollbar and minimap visible.

• Go running – You’re going to bring along a pair of walking shoes anyway, so why not make them running shoes that are also good for walking. If you run at home, then keep your routine set and get up early to run around the block or the hotel grounds.
• Jump rope – This is an easily packable item and gets you great exercise anywhere you have some extra room. Not just little kids love to jump rope. It’s fun and helps you tone and keep in shape. Make sure you buy a nicely weighted one that will stand up to the rigors of the road

• Chair crunches – If you have a chair, you have a low-impact gym. Work your abs by sitting on the edge and pull your legs up or pump your legs as if you are riding a bicycle.
• Do lunges – You’ll feel a lot less awkward doing them in the privacy of your room than out in public, too.
• Calf raises – Do these anywhere, like while you are brushing your teeth, making oatmeal or waiting in line to get into the Louvre (for bonus exercise points).

• Go for a swim – Almost all hotels have a pool. Pack your swimsuit and you can get in some laps. If a fancy indoor pool is available, then you can swim if the weather is uncooperative.
• Use the stairs – Walk or run up the stairs to your room and you’ll start to feel the burn. Generally, the stairwell is pretty private, so you also won’t be disturbing others if you are up early or late doing this.
• Go for a run – Not close to a park or afraid to go out running in unfamiliar terrain? Strap on your running shoes and do laps around the hotel. Chances are it is surrounded by a parking lot and/or sidewalks that make it easy to get your strides in.

As of build 2125, opening files with spaces in path (even quoted) has stopped working in Linux. E.g. `sublime_text "my file with spaces.txt"` makes ST open a new empty tab named "my". `sublime_text my\ file\ with\ spaces.txt` produces the same result

Hi guys,

I think it will be great is Sublime Text was installed with the version numbers available on the windows "Add or remove program". I'm trying to be able to manage a batch installation of sublime using SaltStack and because sublime does not seem to register a version number with windows, I am unable to find out what version of salt is installed across several machines.

Thanks

Nelson

I I'm working with the code of old one game (Red Alert 2) in it uses it's one syntax. It would be great to set up own syntax for own targets and projects