BOARD CERTIFICATION EXAM STUDY GUIDES Lower Extremity Trauma
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Posted on May 13, 2021 by Dr. David Edward Marcinko MBA MEd CMP™
Owner of Independent Pharmacy
EDITOR’S NOTE: We’ve written, posted and opined on concierge and retail medicine; cash based care and direct primary care medicine, and related machinations before on this ME-P. Now, Shawn Needham and his wife, Janet, discuss starting their own, independent pharmacy in the late ’90s. At first glance, this is a success story for an independent pharmacy but Shawn explains what makes their pharmacy different in a big way.
Alpha: The measure of the amount of a stock’s expected return that is not related to the stock’s sensitivity to market volatility. It measures the residual non-market influences that contribute to a securities risk unique to each security.
Alpha uses beta as a measure of risk, a benchmark and a risk free rate of return (usually T-bills) to compare actual performance with expected performance.
For example, a fund with a beta of .80 in a market that rises 10% is expected to rise 8%. If the risk-free return is 3%, the alpha would be –.6%, calculated as follows: