b******f
发帖数: 161 | 1 China Ratings Agency Downgrades America
http://www.cnbc.com/id/40094538
You had to see this coming: The Chinese cut our debt rating — again.
AP
This time, the Chinese rating agency Dagong reduced our sovereign credit
rating from "AA" to "A+". Why? No surprises here either: Quantitative Easing.
This report citation is reposted on The Financial Times Alphaville blog: "
The new round of quantitative easing monetary policy adopted by the Federal
Reserve has brought about an obvious trend of depreci... 阅读全帖 |
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l***n
发帖数: 812 | 2 今天WNR被upgrade，心情愉快，于是来写写感想，算是对这只股票的总结。
我是09年夏天开始买入的。最开始想法很简单，因为买了辆Ford Mustang，这车很费油
，又想到08年的高油价，于是想买些石油类的股票hedge未来的汽油涨价的风险。不过
那时候integrated oil公司价钱比较高了，于是看独立炼油厂（independent refinery
），另外我打算买small cap，后来看到股版有人谈WNR，于是就拿过来看看，这个公司
当时刚刚发行了新股，定价在$9，但是之后股价跌得挺厉害，到了$7。
这个公司在高峰的时候，股价在$50-60多，意气风发地购买了另一个炼油厂，结果赶上
经济衰退，欠了一屁股债，只好发行新股。当时真是怨声载道。
考虑到WNR不景气主要是受到经济周期和高负债的影响，负债在新股发行后得到缓解，
经济低谷也度过了，同时股价跌倒了$7，这时候的Price to Book比过去5年的平均值低
不少。
于是开始买进，不过WNR也真不给力，跌到了6块。这里要注意两点，当时整个
independent refinery版块都很不好，因为国际油价再猛涨（发展... 阅读全帖 |
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l***n
发帖数: 812 | 3 我刚刚开始看，这个行业不错，不过短期内有些regulartion risks，而且似乎公司的
vessel utilization比较低，demand似乎不是很solid，
liquidity和solvency啥的没太大问题。不过既然股价短期没啥，也不用太着急，大盘
的情况还不好说呢。而且我不想我的small cap exposure太高。 |
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l***n
发帖数: 812 | 4 我10-k主要看
Item 7 - Management's Discussion and Analysis，看看行业方面的东西，了解风险
要素。其他的financials主要看Factset，具体的financial tables不看。
我主要买value的股票，所以debt，liquidity, solvency都是要看的，还看看earning
momentum， 还有ownership，其他持有的基金或者机构都是什么style。有的时候对具
体的东西感兴趣了，去翻footnote，主要用keyword search为主，另外看看行业的
analyst review，以及主要竞争对手的情况。
最近的ER script还有一些公司去投行conf的presentation，这些很多时候reveal不少
信息。
不过，这些信息很可能已经built-in了，不过我主要看smid，所以information
efficiency差一些。而且我的time frame要比PM长一些，做smid value，如果horizon
不长，那不是大赌徒就是大牛人。 |
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c******n
发帖数: 5697 | 5 Is stock picking a dead art?
It has looked that way in recent weeks, as macro issues such as the solvency
of European countries and fears of a global economic slowdown have
overshadowed fundamental differences between companies. The consequence is
that stocks are moving in tandem, indicating a high degree of correlation.
Based on one-month trailing movements, S&P 500-index stocks have a
correlation of 80%, even higher than the 73% peak reached during the crisis
in late 2008, says Ana Avramovic o... 阅读全帖 |
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Z****g
发帖数: 13731 | 6 Very interesting article, thanks for posting
solvency
crisis |
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m*****u
发帖数: 5534 | 7 Greece Announces New Measures to Close Budget Gap
By NIKI KITSANTONIS
Published: September 11, 2011
ATHENS — With foreign creditors and global markets piling pressure on
Greece to meet the conditions of an international bailout and stave off a
default that would shake the euro zone, the debt-ridden government announced
further budget cuts on Sunday and introduced a one-time property tax, even
as thousands of Greeks protested months of austerity.
The announcement of the new fiscal measures, made ... 阅读全帖 |
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c*****r
发帖数: 8227 | 8 The Trouble With French Banks
A Bank Paribas executive makes his concerns known.
We can no longer borrow dollars. U.S. money-market funds are not lending to
us anymore," a bank executive for BNP Paribas, who declines to be named,
told me last week. "Since we don't have access to dollars anymore, we're
creating a market in euros. This is a first. . . . We hope it will work,
otherwise the downward spiral will be hell. We will no longer be trusted at
all and no one will lend to us anymore."
He's no... 阅读全帖 |
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d******8
发帖数: 1972 | 9 The euro crisis is a direct consequence of the crash of 2008. When Lehman
Brothers failed, the entire financial system started to collapse and had to
be put on artificial life support. This took the form of substituting the
sovereign credit of governments for the bank and other credit that had
collapsed. At a memorable meeting of European finance ministers in November
2008, they guaranteed that no other financial institutions that are
important to the workings of the financial system would be al... 阅读全帖 |
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r******9
发帖数: 2632 | 10 【 以下文字转载自 PureSpeculation 俱乐部 】
发信人: rookie09 (严谨教授), 信区: PureSpeculation
标 题: 当前市场看法。
发信站: BBS 未名空间站 (Thu Apr 12 13:01:19 2012, 美东)
4月统计上是很牛的。月棒棒收绿也不奇怪。
不过，我判断市场FA还是发生了大的变化。至少现在不是前段那种小碎步一气涨。到底
如何走？我看波动性是上来了。可能1360~1420区间振荡，也可能暴涨，来个搏傻行情。
为什么说FA有变化呢？欧洲中国都比较负面。美国的就业是否继续改善存疑。Fed Fund
Rate已 调高。市场对QE3目前预期减小, 紧缩预期抬头。也就是说，从货币政策方面
看，并不支持多少向上
空间。
欧洲债务除了存量随时还会引发流动性疑问，更重要的是负债国家的价格泡沫，经济不
俱竞争力，无法经济增长。这是个solvency问题。
IMHO，中国长期乐观，当下情况复杂，WTO红利已经尾声。外向出口增长无法延续。投
资基建拉动的GDP增长效率底下，滋生腐败，错配资源，总之弊端极大。强大的垄断以
及既得利益影响下，何去... 阅读全帖 |
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p********6
发帖数: 994 | 11 link :
http://etfdailynews.com/2012/07/10/19-major-sources-warning-abo
July 10th, 2012
Michael Snyder:
Global leaders have tried just about everything that they can think of, but
the coming global financial catastrophe continues to march steadily toward
us. We have seen “stimulus packages”, quantitative easing, bond buying,
interest rate cuts, emergency economic summits, bailout packages for banks,
bailout packages for entire nations, “Operation Twist”, unprecedented
government intervention in ... 阅读全帖 |
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t******y
发帖数: 6206 | 12 NASDAQ Hearings Panel Denies SmartHeat Appeal of NASDAQ
SmartHeat Inc., (NASDAQ: HEAT; website: www.smartheatinc.com) received
notification from the NASDAQ Listing Qualifications Hearings Panel that it
affirmed the determination made by the staff of the NASDAQ's Listing
Qualifications Department to delist the company's shares of common stock
from the NASDAQ Stock Market ("NASDAQ"). As a result, the company's shares
of common stock, which were subject to a trading halt since May 30, 2012,
have be... 阅读全帖 |
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s*********d
发帖数: 1998 | 13 I like your wisdom about solvency.
market can be more irrational than most people could imagine.
to
sure |
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G*******1
发帖数: 6411 | 14 from wxc link
"
Today legendary trader Jim Sinclair told King World News that the Cyprus
disaster is much bigger than what is being reported and the implications are
stunning. Sinclair, who was once called on by former Fed Chairman Paul
Volcker to assist during a Wall Street crisis, had this to say in this
extraordinary and exclusive KWN interview:
Sinclair: “If people believe that $13 billion is the total of this bailout,
they are out of their minds. $130 billion is not the true total of even... 阅读全帖 |
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x**8
发帖数: 1165 | 15 Thoughts On The AIG Ruling And The Implications For Fannie Mae
Jun. 24, 2015 4:42 AM ET | 22 comments | About: American International Group
Inc (AIG), FNMA
Disclosure: I am/we are long FNMA. (More...)
Summary
The AIG trial court has ruled that the government taking AIG Equity was an
illegal exaction but that shareholders are not entitled to damages.
The ruling, while for the government on damages, sets out a road map for
reversal.
Fannie Mae shareholders who owned shares when the net worth sweep... 阅读全帖 |
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x****y
发帖数: 1853 | 17 再附上一个breakeven oil price数据(图1)。在breakeven价格以下的国家没法balance
national budget. 接着就是拼外汇储备了 (图2）。
WLL |
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r****9
发帖数: 4961 | 18 Linked debt should be fine. Actually their CFO would wish the biggest
problem they have is debt. :-).
LinkedIn and Amazon alike is having profitability problem, not liquidity or
solvency problem.
Well, when their share price drop by 80%, they will trigger a technical
default of debt and then it will look like a debt problem. :-). |
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z***e
发帖数: 5600 | 19 Fundamentally it does not matter so much. DB is not buying back the
struggling AT1 bond as it counts as capital. On the other hand, DB does not
have a solvency issue yet and it is too big to fail. This should provide
some relief on the market sentiment. |
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g******4
发帖数: 6339 | 22
-----------
**** Chicago Mayor is seeking higher utility taxes ***
August 03, 2016
Emanuel pushes for another pension-plugging tax hike
(Bloomberg)—Chicago Mayor Rahm Emanuel is seeking higher utility taxes to
keep the city's largest pension fund from running out of money and set all
four retirement plans on a path to solvency.
The city wants to raise the levies on water and sewer bills to shore up the
Municipal Employees' Annuity and Benefit Fund of Chicago, the most
underfunded of the four pe... 阅读全帖 |
|
g******4
发帖数: 6339 | 23 August 03, 2016
Emanuel pushes for another pension-plugging tax hike
(Bloomberg)—Chicago Mayor Rahm Emanuel is seeking higher utility taxes to
keep the city's largest pension fund from running out of money and set all
four retirement plans on a path to solvency.
The city wants to raise the levies on water and sewer bills to shore up the
Municipal Employees' Annuity and Benefit Fund of Chicago, the most
underfunded of the four pensions, and Emanuel planned to discuss the hike
today at an investor... 阅读全帖 |
|
z*******i
发帖数: 2904 | 24 All applicants must appear in person.
1. Thoroughly fill the visa application (www.mexicomiami.org, visas)
2. Bring original and photocopy of
Valid Passport (6 months of remaining before it expires, minimum).
Valid USA Visa and form I-94.
3. Prove economic solvency with either of the following:
International credit card with last 2 month statements, showing
applicant´s and bank´s name.
If different from applicant: official ID, letter stating
responsib... 阅读全帖 |
|
G****a
发帖数: 10208 | 25 【 以下文字转载自 Stock 讨论区 】
发信人: lucan (采菊东篱者), 信区: Stock
标 题: 《我是如何怎样找到WNR的》
发信站: BBS 未名空间站 (Wed Feb 16 19:58:37 2011, 美东)
今天WNR被upgrade，心情愉快，于是来写写感想，算是对这只股票的总结。
我是09年夏天开始买入的。最开始想法很简单，因为买了辆Ford Mustang，这车很费油
，又想到08年的高油价，于是想买些石油类的股票hedge未来的汽油涨价的风险。不过
那时候integrated oil公司价钱比较高了，于是看独立炼油厂（independent refinery
），另外我打算买small cap，后来看到股版有人谈WNR，于是就拿过来看看，这个公司
当时刚刚发行了新股，定价在$9，但是之后股价跌得挺厉害，到了$7。
这个公司在高峰的时候，股价在$50-60多，意气风发地购买了另一个炼油厂，结果赶上
经济衰退，欠了一屁股债，只好发行新股。当时真是怨声载道。
考虑到WNR不景气主要是受到经济周期和高负债的影响，负债在新股发行后得到缓解，
经济低谷也度过了... 阅读全帖 |
|
s*******e
发帖数: 389 | 26 匹兹堡属于费城墨西哥领馆的辖区，按道理说你需要去费城
要是去DC你需要一个local的地址，并做好跟签证官据理力争的准备
我刚刚跟费城的墨西哥大使馆联系过，还没去签证，把他们给我的checklist贴出来
需要准备的材料是：
1. A PASSPORT IN ORDER, DULY SIGNED AND VALID FOR AT LEAST 6 MONTHS AND A
COPY.
2. COPY OF U.S. VISA VALID FOR THE NEXT 6 MONTHS.
3. PROOF OF ECONOMIC SOLVENCY (ONE COPY OF A BANK STATEMENT OF THE LAST
MONTH OR COPY OF AN INTERNATIONAL CREDIT CARD)
4. COPY OF CONFIRMED RESERVATION OF THE PLANE TICKET OR COPY OF CONFIRMED
RESERVATION OF THE TRIP TO MEXICO.
5. MONEY ORDER FOR THE AMOUN |
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n******h
发帖数: 2482 | 27 It was never a liquidity crisis. It was a solvency crisis and it still is.
By removing mark-to-market, transferring worthless asset to tax payer and
paying interests on the idle money (gift of Fed) sitting on banks' balance
sheets, Fed just pretend-and-extend and kicked the ball into the future,
at the cost of tax payers' money. The next crisis will no longer be
financial crisis, but a sovereign one.
Latvia, Dubai, Greece, Ireland, Iceland, Portugal, Turkey, Austria, Spain,
Italy, UK, ... and US |
|
B******e
发帖数: 16928 | 28 I agree with this. It is a solvency problem. But what else can we do?
Financial industry is different from other industry in terms of it is built
crucially on trust. There are numerous academic papers saying that a bank
run can happen even when the bank is solvent and people somehow lose their
trust. All we can do is praying for the best. Right now I think U.S. is fine
. Chinese will not discontinue lending money to the U.S. because they know
there is no other better choice.Just wait for the hou |
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x**y
发帖数: 147 | 29 紧急咨询各位，
TAMU的博士后，J1 visa，还没有过去，系里的小秘说要先确定好头三个月的保险险种
才能给2019表，但是她又说头三个月学校是不cover费用的，要自己买。3个月之后学校
才cover90％以上的保险费用。
学校的统一保险是一个月400元左右，学校支付380元，自己支付20元。秘书说可以在我
们第三个月之后买这种的。但是现在要买这种的自己全额支付太贵了，说很多人都买外
面的保险。
俺没有在米国呆过，不知道要买什么样的啊，小秘给了好多个网站，如下
－－－－－－－－－－－－－－－－－－－－－－－－－－
Atlas America or call 888-247-1387
Compass Benefits Group or call 800-767-0169
The Harbour Group or 800-252-8160
HTH Worldwide or 888-243-2358
Renaissance Agencies, Inc. or call 800-537-1777.
Saylor & Hill Co. or call Shannon Turner at 51... 阅读全帖 |
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p******g
发帖数: 1149 | 30 The Embassy of Mexico in Canada informs that starting on December 1, 2003,
landed immigrants of Canada do not require a visa. However, they do need a
tourist card, which may be obtained at Mexican consulates, on direct flights
to Mexico or at the Mexican airport, and they must travel with the following:
Valid passport
Permanent resident ID card
Round trip tickets
Proof of economic solvency (credit card, traveller's cheques, etc.)
Please be aware that foreigners visiting Mexico must pay a tax fee |
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s******o
发帖数: 257 | 31 今天刚去，有几点值得提醒一下
1. 必须的材料有：护照，照片，申请表，工作证明和pay stub （如果是要证明
financial solvency）
2. 停车在使馆背面（有旗子的是正面），有人收钱15， 可以不停进去，路趴2小时2块
付meter
3. 进去会有人把你带到2楼一个区域，有个小窗口专门办visa
4. 问了工作人员，星期一和星期五最忙，推荐星期二三四去
5. 每个人需要大概25分钟，从教材料到输入你的数据进去电脑再到打印出来签证全部
现场完成，我前面有四个人，坐着等了45分钟，自己进去办了20分钟，大部分时间没我
什么事
6. 使馆人员知道你美国签证过期了，不然也不会需要办墨西哥签证，所以我带的i94和
auto-revalidation打印页人根本没看
7.*非常重要* 申请表上的签名必须和你护照最后一页的签名完全吻合。。。要不然会
要你重写一份申请表，使馆大姐也很无奈不过这是规定
8.全过程大概2小时，办好了以后下楼交钱，交完钱再上楼拿贴好签证的护照
9. 可以刷卡 |
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a***a
发帖数: 40617 | 32 这里说的是有价证券，cash
算短期的solvency |
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l****f
发帖数: 332 | 33 不知道是谁想出来的主意
To Pay New York Pension Fund, Cities Borrow From It First
http://www.nytimes.com/2012/02/28/nyregion/to-pay-new-york-pens
ALBANY — When New York State officials agreed to allow local governments to
use an unusual borrowing plan to put off a portion of their pension
obligations, fiscal watchdogs scoffed at the arrangement, calling it
irresponsible and unwise.
And now, their fears are being realized: cities throughout the state,
wealthy towns such as Southampton and East Hampton, count... 阅读全帖 |
|
c****t
发帖数: 19049 | 34 LETTERS FROM ZEDELGHEM
CHATEAU ZEDELGHEM,
NEERBEKE,
WEST VLAANDEREN
29TH-VI-1993
Sixsmith,
Dreamt I stood in a china shop so crowded from floor to far-off ceiling with
shelves of
porcelain antiquities etc. that moving a muscle would cause several to fall
and smash to bits.
Exactly what happened, but instead of a crashing noise, an august chord rang
out, half-cello,
half-celeste, D major (?), held for four beats. My wrist knocked a Ming vase
affair off its
pedestal—E-flat, whole string section, g... 阅读全帖 |
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n*******p
发帖数: 231 | 35 一个月前找到的工作。payable accountant, manufacture, start pay 60k。
背景
城市规划硕士，accounting certificate。4个月internal audit实习，4个月tax
services实习加volunteer。
找工作中间的mood swing就不多说了.
如何找到这份工作
二月份的参加一个聚会，认识一家公司的controller，说公司在招accounting的人，但
是没有公开招聘。给他email了一份简历，一个星期之后收到电话面试，电话里面安排
了on site。On site之后迟迟没有音信，于是就主动写了信问能不能再给个面试机会。
他们真的就给了第二次面试机会。第二次面试之后，第二天另一个controller电话跟我
谈offer。前后一共面试了7个人， 3个Vice president，manufacture, resources, HR
，2个senior manager， Sales, IT，还有2个controller，分别管operation，
finance。
经验
通过netwo... 阅读全帖 |
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n*******p
发帖数: 231 | 36 一个月前找到的工作。payable accountant, manufacture, start pay 60k。
背景
城市规划硕士，accounting certificate。4个月internal audit实习，4个月tax
services实习加volunteer。
找工作中间的mood swing就不多说了.
如何找到这份工作
二月份的参加一个聚会，认识一家公司的controller，说公司在招accounting的人，但
是没有公开招聘。给他email了一份简历，一个星期之后收到电话面试，电话里面安排
了on site。On site之后迟迟没有音信，于是就主动写了信问能不能再给个面试机会。
他们真的就给了第二次面试机会。第二次面试之后，第二天另一个controller电话跟我
谈offer。前后一共面试了7个人， 3个Vice president，manufacture, resources, HR
，2个senior manager， Sales, IT，还有2个controller，分别管operation，
finance。
经验
通过netwo... 阅读全帖 |
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c*****g
发帖数: 40 | 37 大家讨论一下做ERM和DFA modeling方向的前景如何吧。这几年貌似不错，有
regulation的支持，再加上Solvency II. 不过长期呢？ |
|
f*******g
发帖数: 86 | 38 一般在life insurance company里, mortality table都是用deterministic model, 从
SOA那里获的.但在reinsurance里边,因为loss probability是小的,但severity很大.
sample size也很小,这样用传统的deterministic model就不精确了.因此现在大部份公
司都开始研究stochastic modeling mortality来适应新的需要.
你看到的这些US Mortality, valuation mortality,应该是他们负责的研究方向.
VAUATION主要是financial reporting,GAAP reporting, Solvence reporting通常来说
,很多assumptions仅仅是follow regulation requirements,精算人员在这方面没有太
多的发挥,唯一的例外就是在mortality assumption,各公司可以做些modifications,但
要经过很多tests,现在很多life insurance都开始... 阅读全帖 |
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c*******n
发帖数: 75 | 39 在哪呆哪吧.
老牌P/C大公司总部很多在欧洲, P/C再保险也明显比美国强, 又是现在SOLVENCY II和
以前GLM 热火朝天的发原地. 知道一些FCAS从北美去了欧洲.
经验，懂一点pricing， SAS比较熟悉， 目前在欧洲某大保险公司。 刚拿到ASA，英语
比较流利。 |
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a********t
发帖数: 1810 | 40 Insurance or consulting? P&C or Life? you should give more information.
My friend is qualified for this role. She is working in P&C insurance.
I guess it is Aviva Canada, this only insurance company which is using Solvency II as fas as I know |
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s*******0
发帖数: 3461 | 41 你的背景是 accounting 的 可以ps 可以多往评估 偿付能力方面靠
valuation solvency 之类的 这样会比较 make sense
www.soa.org 可以搜索到paper 不错
1. Columbia's actuarial master program.
2. Baruch College's accounting master program.
这两个 确实不错 地方好 方便network和 找工作
一切顺利 |
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J***M
发帖数: 254 | 44 I don't think there are many books (good ones) out there. Because the SII is
in development. But there are many good consultation papers around, such as
those on Fsa and ceiops websites. |
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G*****u
发帖数: 1222 | 46 最近两年时间都花在找工作上了
最近拿了份还算满意的 三五年内可能就不面试了 写点感想
找工作的网站:
casact.org
soa.org
indeed.com
面试准备：
(1)电话面试
一般都是hr 口语练好点 简历弄熟点 没啥好说的
(2)behavoir question
准备几个behavoir question 比如如何跟team member工作啊 起了冲突怎么办啊
我遇见过最恶心的是让我给个Ethical Conflict的例子
这种问题答不出来也没什么关系
面试就是个交流的过程 只要整个过程流畅了 一两个问题没说上来也无关大局
(3)technical question
精算面试没什么技术问题
我遇见过的也无非是说说不同保险产品的rating factor
excel里vlookup/sumif的用法之类的
跟我面过的统计职位比起来 精算职位面试可以算是没有任何技术问题
(4)总结
把口语练好了 过掉phone screen 拿到on site面试后 就看运气了
面试这种事其实是看缘分的 缘分到了自然就有了
考试门数:
老在版上看到有人问考试太多会不会不好
对于中国学... 阅读全帖 |
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r*x
发帖数: 1055 | 47
syllabus年年都在改，只是看大改小改了。Life track的变化应该不会有多大，估计
solvency II之类的东西会加点进去，但是基本的不会变到哪里去的
你什么时候开始上班？如果还有半年以上才上班的话自己掏钱考一门也无妨了，考试费
也就1000块，买套manual几百块吧，如果将来上班赶上那种一到考试就要加班的职位没
办法找时间突击的话，就会觉得现在花这点钱千值万值了 |
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I******a
发帖数: 32 | 48 现在随着solvency 2的来临，对于精算师的要求大量增加，英国已经把精算师列入移民
工作的shortage list上去了，找精算工作以后对身份的要求大大降低，很利于华人找
工作。法国去年移民政策发生变化，目前还不是很明朗，不过目前在法国的新毕业生一
般先和企业签实习或者定期工作合约来度过目前这段形式不明朗的时期。 |
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I******a
发帖数: 32 | 49 The Actuary published two new articles from Dr. Yan Liu, Chairman of CANUK
Advisory Board, Head of Actuarial Solvency II Reserving at RBS Insurance .
1. Increasing opportunities for Chinese actuaries 华人精算师的机遇与挑战
http://www.theactuary.com/features/2012/01/increasing-opportuni
It was the best of times, it was the worst of times, it was the age of
wisdom, it was the age of foolishness, it was the epoch of belief, it was
the epoch of incredulity, it was the season of Light, it was the season of
Da... 阅读全帖 |
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f**********g
发帖数: 4709 | 50 多谢分享，
摘抄一小段，对回国感兴趣的：
笔者本人有以下几个忠告给想回中国大陆或者亚洲市场工作的法国华人精算师做参考：
离开国内已经比较长久或者在国内还没有工作经验的人一定要注意工作文化
差异这个问题，不管是在生活上还是工作上，要有一种很大的适应能力；
在中国或亚太发展地区，你是不会学到丰富的精算技术，因为大部分市场都
还没到成熟阶段，所以你要先熟练掌握西方丰富先进的技术，在中国和亚洲才会有可用之地；
英美精算师协会在国内地位比较高，所以短期之内，法国精算协会还没达到
同等知名度之前，同事们可以考虑先拿到英美协会成员资格；
寿险的保费远远超过财险，寿险精算师的地位也相比受到尊重。但是这个差
距长期来看还是会拉小的。今后几年，很多 M&A 会让财险市场变得像寿险市场一样集中。很
多亚洲国家将会推广类似 Solvency II 或者 RBC 的偿付规则，资本管理精算师的地
位也会得到一定的提升，具有欧洲经验的华人精算师也会进一步获得发展空间。
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