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vertible bond strategy. Has XYZ violated U.S. securities laws prohibiting general solicitation An investor is interested in investing in a long/short equity fund and compiles a list of two dozen candidate funds. She writes to all 24 and inquires about performance and fees. Is she violating securities laws in making a mass mailing Can the hedge funds legally reply to the request for information You are a potential hedge fund investor and have been talking with an investment professional about Acme Limited Partners, a global macro hedge fund. You learn that your contact does not work for Acme and, in fact, markets several different hedge funds. Should you refuse to invest in Acme because the combined fees will be too high Why do securities laws prevent a hedge fund from advertising A fund with $5 million under management contracts with a thirdparty marketer to raise additional funds. The agreement calls for the marketer to receive 20 percent of all incentive and management fees collected by the management company for three years. The fund raises an additional $10 million and in the next year earns a 10 percent return before management and incentive fees of 1 and 20. How much does the marketer collect To simplify the calculations, assume that the management fee is charged at the end of the year, so the entire $15 million earns the return. How much of the fee paid to the marketer in question 12.7 represents fees on money not raised by the third-party marketer A hedge fund s prime broker introduces a potential investor to the fund in question 12.7. The investor places $1 million in the hedge fund. How much fee income does the prime broker collect if the gross return is 12 percent the next year



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Proof: Recall that L is elliptic if the coefficient matrix A(x) = is positive definite in R. First we carry out the proof under a stronger assumption that f < 0 in R. Suppose that there exists some x E R such that

Secret communication is everywhere around us today. Cryptography is being used to encrypt messages so that they can be read only by someone who has the key. Steganography hides messages so that their very existence is undetectable. Both forms of secret communication are being used in business, in government, and in war both overt and covert. Because these technologies are often used in concert, in the next chapter you ll learn about the world of cryptography, its history, and how it s being used today by a wide variety of groups and individuals.





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Let us once again consider Example 3. 11. In th is case we will examine the network using loop analysis. Al though there are four sources, two of which are dependent, only one of them is a current source. Thus, from the outset we expect that a loop analysi s will be more diffi cult than a nodal analysis. Clearly, the circ uit contai ns six loops. Thus, six linearly independent equations are needed to solve for all the unknown currents. The network is redrawn in Fig. 3.29 where the loops are specified. The six KVL equa-

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The fourth step in variance testing is: How do we expect our changes to affect customer response, and how are we better meeting customer expectations and requirements Without this critical analysis of what are, in effect, goals to the Six Sigma project, we have no way to understand whether our work is effective. By identifying our expectations in terms of improved customer expectations and requirements, we are able to add a quanti able element to even the most intangible of service projects. We can produce a means for monitoring success, a budget of the project s results, and then compare those outcome budgets to actual responses. Finally, we address the question: How do our changes effectively reduce future defects The internal controls that are developed as an essential element of the project, ultimately determine how effectively our variance analysis worked. In a successful outcome, future defects are reduced permanently, because the changes in processes nd and correct emerging variances before the output gets into the customer s hands. We cannot eliminate defects entirely, but we can create system processes (or internal controls) that check and re-check for variances and nd them. In a sense, we can describe this concept as correcting emerging input or process variances before they turn into process or output defects. While achieving Six Sigma output 3.4 variances per million opportunities is obviously not possible, we can eliminate an incredible number of variances under this de nition, primarily by creating strong, reliable, and consistent internal controls, check points, and elimination of root causes of those variances.

15 Some launches in 2000 and 2001 seem to have been related to low orbital satellites, comparable to that of the Tsikada system.

1 Departament of Microbiology, Faculty of Pharmacy, University of Santiago de Compostela, Spain 2 School of Biotechnology, University of Santiago de Compostela, Spain

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diagnoses seen at a sports medicine clinic Journal of Orthopaedic and Sports Physical Therapy, 9, 40 46 Draper, V (1990) Electromyographic biofeedback and recovery of quadriceps femoris muscle function following anterior cruciate ligament reconstruction Physical Therapy, 70, 11 17 Draper, V, & Ballard, L (1991) Electrical stimulation versus electromyographic biofeedback in the recovery of quadriceps femoris muscle function following anterior cruciate ligament surgery Physical Therapy, 71, 455 464 Duda, J L, Smart, A E, & Tappe, M K (1989) Predictors of adherence in rehabilitation of athletic injuries: An application of personal investment theory Journal of Sport and Exercise Psychology, 11, 367 381 Erlanger, D, Feldman, D, & Kutner, K (2003) Development and validation of a web-based neuropsychological test protocol for sports-related return-to-play decision-making Archives of Clinical Neuropsychology, 18, 293 316 Evans, L, & Hardy, L (1995) Sport injury and grief responses: A review.

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