Application of Portfolio Model in the Real Investment Transactions

This paper studies discrete investment portfolio model that the objective function is utility function. According to a hybrid branch-and-bound method based on Lagrangian relaxation and continuous relaxation, the paper analyzes the question using the real statistical data. The results indicate that discrete investment portfolio model really has its guidance in the actual investment.

An Empirical Analysis on the Stable Return of Resident Funds

This paper mainly studies how investors invest in funds to obtain high returns while avoiding risks.Firstly,from the perspective of portfolio investment,this paper introduces the traditional Markowitz mean-variance model and capital asset pricing model(CAPM),then selects four funds from different industries by MATLAB program in Sina Finance and Economics Network for application analysis from which the optimal portfolio point can be obtained under the combination of efficient frontier and capital allocation line.Subsequently,by analyzing the returns of long-term holdings and short-term operations of Noan Growth Hybrid Fund,it is confirmed that long-term holding funds can better cope with the changing market so as to obtain more stable returns.Finally,this paper discusses the dynamic adjustments of asset portfolio.Resident investors are supposed to take into account the market situation and the changes of the fund itself to adjust the holding fund portfolio.Based on the research in this paper,resident investors ought to combine investment funds to diversify risk allocation and make long-term holding plans according to their risk tolerance.At the same time,they should also make appropriate dynamic adjustments when the external environment changes to ensure long-term benefits.

Analysis of the cryptocurrency market using different prototype-based clustering techniques

Since the emergence of Bitcoin,cryptocurrencies have grown significantly,not only in terms of capitalization but also in number.Consequently,the cryptocurrency market can be a conducive arena for investors,as it offers many opportunities.However,it is difficult to understand.This study aims to describe,summarize,and segment the main trends of the entire cryptocurrency market in 2018,using data analysis tools.Accord-ingly,we propose a new clustering-based methodology that provides complementary views of the financial behavior of cryptocurrencies,and one that looks for associations between the clustering results,and other factors that are not involved in clustering.Particularly,the methodology involves applying three different partitional clustering algorithms,where each of them use a different representation for cryptocurrencies,namely,yearly mean,and standard deviation of the returns,distribution of returns that have not been applied to financial markets previously,and the time series of returns.Because each representation provides a different outlook of the market,we also examine the integration of the three clustering results,to obtain a fine-grained analysis of the main trends of the market.In conclusion,we analyze the association of the clustering results with other descriptive features of cryptocurrencies,including the age,technological attributes,and financial ratios derived from them.This will help to enhance the profiling of the clusters with additional descriptive insights,and to find associations with other variables.Consequently,this study describes the whole market based on graphical information,and a scalable methodology that can be reproduced by investors who want to understand the main trends in the market quickly,and those that look for cryptocurrencies with different financial performance.In our analysis of the 2018 and 2019 for extended period,we found that the market can be typically segmented in few clusters(five or less),and even considering the intersections,the 6 more populations account for 75%of the market.Regarding the associations between the clusters and descriptive features,we find associations between some clusters with volume,market capitalization,and some financial ratios,which could be explored in future research.

Grey Model of the Investment Portfolio Optimization

The theory of investment portfolio is a very important theory in the modern economical system. Based on the feature of the theory, the paper sets up new various kinds of models of investment portfolio, namely grey optimization models. These models are more practical and objective to existing problems.

Does Foreign Direct Investment Provide Desirable Development Finance? The Case of China

Foreign direct investment （FDI） is ofen considered as a cost-effective and risk-reducing source for development finance. This paper, however, shows that FDI finance often entails underestimated risks and costs. FDI might react sensitively to business cycles and might not be as ＂permanent＂ as conventionally believed. FDI might also accelerate other forms of capital flow in times of financial difficulties and, hence, destabilize ftnancial order. In addition to the risks, compensations to FDI and the high import-dependency of FDI-related trade lead to a considerable drain on the balance of payments. Moreover, the reliance on foreign capital for development finance is equivalent to building a Ponzi financing scheme and, therefore, is unsustainable. Given the fact that FDI financing is risky and costly and China does not lack savings, it is suggested in the present paper that China ＇s efforts in attracting FDI should not aim at external capital provisioning.