27.6k views
1 vote
Investment advisors estimated the stock market returns for four market segments: computers, financial, manufacturing, and pharmaceuticals. annual return projections vary depending on whether the general economic conditions are improving, stable, or declining. the anticipated annual return percentages for each market segment under each economic condition are as follows:

market segment improving stable declining
computers 10 2 -4
financial 8 5 -3
manufacturing 7 4 -2
pharmaceuticals 6 5 -1

assume that an individual investor wants to select one market segment for a new investment. a forecast shows improving to declining economic conditions with the following probabilities: improving 0.3, stable 0.6, and declining 0.1. what is the preferred market segment for the investor?

User Kreuzade
by
8.6k points

1 Answer

6 votes

Futures whisper, segments four, improving's sun, stable's shore. Computers climb, finance gleams, makers march, pharmaceuticals dream. 0.3, 0.6, 0.1 paint, risk whispers, faint. Financial and pharma bloom, choice sings, risk's gentle moon.

Here's how to find the preferred market segment for the investor:

1. Calculate the expected return for each segment based on the economic probabilities:

  • Computers: (10 * 0.3) + (2 * 0.6) + (-4 * 0.1) = 3.6
  • Financial: (8 * 0.3) + (5 * 0.6) + (-3 * 0.1) = 4.9
  • Manufacturing: (7 * 0.3) + (4 * 0.6) + (-2 * 0.1) = 4.5
  • Pharmaceuticals: (6 * 0.3) + (5 * 0.6) + (-1 * 0.1) = 4.9

2. Compare the expected returns: Based on the calculations, Financial and Pharmaceuticals have the highest expected returns of 4.9%.

3. Consider risk tolerance: If the investor is risk-averse, Pharmaceuticals might be preferable due to its slightly lower potential downside in a declining economy (-1% vs. -3% for Financial). However, if the investor has a higher risk tolerance, Financial might be a better choice due to its potential for larger gains in an improving economy (8% vs. 6% for Pharmaceuticals).

Therefore, the preferred market segment for the investor depends on their risk tolerance:

  • Risk-averse: Pharmaceuticals (4.9% expected return, lower downside)
  • Risk-tolerant: Financial (4.9% expected return, higher potential upside)

It's important to remember that these are just estimated returns based on a forecast, and actual market performance may differ. Investors should carefully consider their risk tolerance and investment goals before making any investment decisions.

User Aqueel
by
7.8k points