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A popular Wendy's commercial in the 80s made famous the question: "Where's the beef?" Good one. And here's an even better one: "Where's the alpha?" You might want to whip this one out the next time you meet with your portfolio manager.
Alpha is the over-and-above-the-expected return. It is the "value added." Therefore, it makes sense that a positive alpha means an investment has outperformed its market-predicted return, while a negative alpha would mean just the opposite. The expected return is calculated by a formula that takes into account the investment's level of unavoidable risk (aka beta).
Ever stepped into an elevator and after the doors close you become aware of an almost-suffocating scent coming from the woman next to you who must have bathed in perfume? Well, as you know, once the doors close you can't escape the smell until the ride is over. This is similar to beta, which is risk that can't be reduced or diversified away. A measure of "systematic" or market related risk, beta is used as a measure relative to a certain index -- such as the S&P 500.
So, for example, let¿s say your portfolio is managed to compete against the S&P 500. If you generate a better return than the index while not taking on added risk (standard deviation of returns) then you get alpha. Low beta means the market-related risk is low and vice versa for high beta.
Another example, let's say a mutual fund or stock has a beta of 1.5 relative to the S&
P500 ¿ that means it is 1.5 times as risky. So, over time, if the S&P 500 goes up 1%, your portfolio should be up 1.5%
plus (one can hope) some percentage of alpha. If the S&P 500 is down 1%, your portfolio should be down 1.5%.
Alpha
and beta are based off of linear regression of a set of data. Warning: this may cause a high school fifth-period flashback,
but it will be over before you know it:
The equation for a line is Y = a + bX.
a = alpha (the Y intercept - the added
value)
b = Beta (the coefficient you multiply X by)
X = S&P 500 (in this case)
Y = your portfolio
Home / Markets / Industries / Technology
Friday, May 09, 2008
GEEP: Electronic Recycler expands with acquisition of Ecosys/Rider across Canada
Comtex
BARRIE, ON, May 9, 2008 (Canada NewsWire via COMTEX News Network) ----Global Electric Electronic Processing Inc. ("GEEP") is pleased to announce the purchase of Ecosys Canada Inc ("Ecosys"), Rider Computer Services Ltd and Rider Technology Services Inc.("Rider") all of whom will be operating as GEEP Ecosys Inc. effective May 1st 2008. With this acquisition GEEP welcomes one hundred associates of Ecosys and Rider, together with their four Canadian locations (Vancouver, BC; Calgary, Alberta; Toronto, Ontario and Montreal, Quebec) which will remain operational. This acquisition expands GEEP direct operations to encompass 450 associates who will be functioning out of six Canadian and two United States centers. GEEP, through its joint ventures and affiliations also provides services at our locations in Europe and Asia.
The acquisition of Ecosys Rider strengthens GEEP's network in Canada and will supplement its two existing plants in Barrie, Ontario and Edmonton, Alberta, in addition to its 24 e-colleX ewaste collection sites, utilized by Original Equipment Manufacturers to collect ewaste.
GEEP is one of the largest, most technologically advanced, integrated, ewaste asset management companies in the world. With proprietary software and equipment, complimented by a strict adherence to ISO standards, GEEP recycles electronic waste into commodities with a zero landfill objective. GEEP is a global company that can provide services on a global basis.
Ecosys/Rider has been providing Technology Change Management (TCM) services for over 20 years to large organizations. From the banking industry to the Fortune 1000's companies, who require certified audit reporting that tracks all asset information, the Ecosys/Rider proprietary TCM solution facilitates tracking of assets down to the serial number level and guarantees that all personal data has been wiped clean. Their well developed sales channels allow them to remarket any product that has value and obtain the highest return on investment for clients. Providing peace of mind through a cost efficient and effective end of life solution, Ecosys/Rider manages all the key steps in the asset recovery, remarketing and recycling process, in addition to eliminating data security risks, effectively shielding companies from corporate liabilities and environmental exposure.
GEEP is committed to growth and development of a global footprint to service both international and local clients. The company continues to invest in Research and Development to improve separation technologies thereby maintaining its leadership role in this rapidly developing industry. GEEP focuses on environmental sustainability while ensuring the health and safety of its workers.
SOURCE: GEEP Ecosys Inc.
Bruce Hartley, Vice President, Sales Tel: (514) 636-9625, ext 218, bhartley@ecosys.ca
Copyright (C) 2008 CNW Group. All rights reserved.
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