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"When the net asset value of a fund drops precipitously, whatever incremental yield investors were getting is obliterated by the negative price performance".
"The market is simply letting its guard down at the expense of getting some incremental yield," said Sandy Rufenacht, chief investment officer of $1.3 billion high-yield asset manager Three Peaks Capital.
The incremental yield on corporates doesn't justify the additional risk.
In short, the payoff in incremental yield is worth the uncertainty of the potential call.
KREF believes it has "created a defensively positioned portfolio" and the company "will continue to target the highest-quality opportunities, trading incremental yield for credit quality".
It's not worthwhile to go out an extra 10 years, because if you are lucky you will earn only four-tenths of a percentage point in incremental yield.
Similar(7)
Additional outputs include the Number Needed to Screen (NNS) and incremental yields in relation to the total costs incurred.
In order to correctly calculate the incremental yields, we added the observed proportions of positive smears or cultures to the expected proportion for the missing specimens, using a method described by Rieder et al. (Appendix)[ 19].
Our results show that bleach sedimentation and SCA increased the detection of smear-positive TB patients by 12.4%, which is in line with the findings of other studies reporting incremental yields ranging from 7%to253%3% [ 20].
For our study, since we aimed to collect 2 specimens and since less than 10% of SE had ≥ 3 smears or 3 cultures done, we kept 4 patterns (Px, NP, NN and N9) and adapted the formulas accordingly.To calculate the incremental yields, the assumption was made that those with an N9 result had the same probability of being positive on the second smear as those with an NP result.
Incremental goals yield incremental results, but testing a hypothesis, according to Ross, opens up the organization to unseen possibilities.
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CEO of Professional Science Editing for Scientists @ prosciediting.com