To see the other types of publications on this topic, follow the link: The Magic Formula.
Dissertations / Theses on the topic 'The Magic Formula'
Create a spot-on reference in APA, MLA, Chicago, Harvard, and other styles
Consult the top 28 dissertations / theses for your research on the topic 'The Magic Formula.'
Next to every source in the list of references, there is an 'Add to bibliography' button. Press on it, and we will generate automatically the bibliographic reference to the chosen work in the citation style you need: APA, MLA, Harvard, Chicago, Vancouver, etc.
You can also download the full text of the academic publication as pdf and read online its abstract whenever available in the metadata.
Browse dissertations / theses on a wide variety of disciplines and organise your bibliography correctly.
1
Sjöbeck, Erik, and Joel Verngren. "Magic Formula has its magic and Momentum has its moments. : -A study on magic formula and momentum on the Swedish stock market." Thesis, Linnéuniversitetet, Institutionen för ekonomistyrning och logistik (ELO), 2019. http://urn.kb.se/resolve?urn=urn:nbn:se:lnu:diva-85562.
Full textAbstract:
The study examines how the investment strategy Magic Formula (Greenblatt, 2006) has performed on the Swedish stock market. It is also investigated how the performance is affected when the strategy is combined with momentum. Since the expected pension for future generations is expected to decline it is important to have private savings with as high return as possible. Therefore, it is relevant to investigate if simple investment strategies can be used to achieve higher return. The purpose with this study is to find out if the investment strategies Magic Formula and Magic Formula combined with momentum has had a higher risk-adjusted return than the benchmark index OMX30. The results show that both Magic Formula and Magic Formula combined with momentum yielded a higher risk-adjusted return than the benchmark index. The results also showed that Magic Formula yielded an even better risk-adjusted return when it was combined with momentum. We wish that the result that was found in this study will give inspiration to private investors in order to achieve a higher return in their savings and a more satisfactory pension in the future
2
Harvey, Janet A. "No magic formula : marketing a marginal school." Thesis, Loughborough University, 1996. https://dspace.lboro.ac.uk/2134/7422.
Full textAbstract:
This thesis describes an action research enquiry into the marketing of a small independent girls, school in the West Midlands, of which the author was the headteacher. Chapter One outlines the research situation. In Chapter Two, literary perspectives are presented on the issues of educational marketing, independent education (with particular reference to girls), and the problems of marketing a contracting school. Chapter Three covers methodological issues. In the first spiral of the enquiry, the school's provision was analysed and new initiatives were undertaken to improve it. These are described in Chapter Four. Next, the views of parents were sought, to assist the school's management team to evaluate the success of these initiatives, and to acquire firmer knowledge about sources of students. Outcomes are presented in Chapter Five. Preparatory school headteachers were identified as important 'gatekeepers, in the process of transfer into secondary independent schooling. A series of interviews with prep school heads established their views on, and involvement in, the transfer process. These interviews are analysed in Chapter Six. Concerns expressed by the prep heads about their relationships with secondary heads, particularly of girls' schools, prompted the final cycle of this study: to compare the views of heads of independent girls' schools with those of the prep heads. These findings are outlined in Chapter Seven. Chapter Eight presents a summary of marketing problems revealed by the research findings, suggests further areas of research, and indicates the final outcomes for the author and her school.
3
Ker-Fox, Jason G. "Magic formula optimisation in the South African Market." Master's thesis, University of Cape Town, 2017. http://hdl.handle.net/11427/25365.
Full textAbstract:
The purpose of this study is to investigate the performance of the value investing strategy commonly referred to as the "Magic Formula", which was first introduced by Greenblatt (2006) and uses the return on capital and earning yield ratios as the basis for stock selection, in the South African market. The study will build on the work previously performed by Howard (2015) by challenging the "Magic Formula" portfolio composition assumptions. In doing so, optimal combinations of holding period and portfolio size which: maximise the geometric mean return, minimise the volatility of returns and maximise the risk adjusted return, shall be determined. The scope of this study includes all companies, excluding financial services entities, listed on the Johannesburg Stock Exchange, which exceed a market capitalisation of R 100 million, for the period 1 October 2005 to 30 September 2015. The results showed that by adjusting certain portfolio parameters the overall performance of the "Magic Formula" on both a geometric mean and risk adjusted basis can be increased. However, the "Magic Formula" still provides an insufficient amount of evidence to conclude, on a statistically significant basis, an outperformance of the investment strategy relative to the Johannesburg Stock Exchange All Share Index. Accordingly, the study makes several contributions to the literature. Firstly, it provides direct evidence of the relationship between value investing portfolio composition and the returns generated, indicating that excess returns can be achieved when the portfolio composition is adjusted. Secondly, albeit not on a
4
Ekqvist, Magnus, and Robin Steen. "En magisk Formel? : Magic Formula på den europeiska marknaden." Thesis, Linköpings universitet, Företagsekonomi, 2018. http://urn.kb.se/resolve?urn=urn:nbn:se:liu:diva-148309.
Full textAbstract:
Bakgrund: Den effektiva marknadshypotesen är ett vida accepterat begrepp inom den finansiella sfären men trots sin centrala roll har den fått motstå mycket kritik. Ett flertal anomalier har identifierats vilka är en kritik till marknadens effektivitet. I takt med anomaliernas framväxt har intresset för investeringsstrategier ökat. Går det att generera en överavkastning genom en förbestämd strategi där marknadens ineffektivitet utnyttjas? Vi finner det därför av intresse att studera Greenblatts (2010) Magic Formula och om det är möjligt att generera en överavkastning genom att tillämpa investeringsstrategin. Syfte: Studien syfte är att analysera huruvida investeringsstrategin Magic Formula kan generera överavkastning jämfört med den globala aktiemarknaden samt om det föreligger några prestationsskillnader mellan de olika europeiska aktiemarknaderna. Vidare ämnar studien analysera hur ombalanseringsfrekvensen samt val av tidsperiod påverkar Magic Formula-portföljens avkastning. Metod: För att genomföra studien har en kvantitativ strategi med en deduktiv ansats använts. Det har genomförts en tidsserieundersökning där portföljer har konstruerats och analyserats baserat på dess avkastning och risk som statistiskt säkerställts genom parvisa t-test samt regressioner. Studien har genomförts på den europeiska marknaden under tidsperioden 2007-04-01 till 2017-04-01. Slutsats: Av 18 Magic Formula-portföljer presterar 14 portföljer sämre än jämförelseindex, sett till årliga medelavkastning samt total avkastning. Tre av de 14 portföljerna gav en signifikant lägre avkastning. Finanskrisen hade stor påverkan på resultaten. Exkluderas denna tidsperiod presterade endast 11 portföljer sämre, dock utan statistisk signifikans i resultaten. Studie har även funnit att en längre tidsperiod mellan ombalanseringarna tenderar att generera en högre avkastning.Background: The efficient market hypothesis is a widely spread concept throughout the financial sphere, but despite of its central roll it have had to withstand a lot of criticism. Anomalies have been identified which are a criticism against the markets efficiency. The interest of investment strategies has grown as of the emergence of the anomalies. Is it possible to generate abnormal returns through a pre-determined strategy, where the market inefficiency is exploited? We therefore find it interesting to study Greenblatt’s (2010) Magic Formula and if it is possible to generate abnormal returns by implementing the investment strategy. Purpose: The purpose of this study is to analyze whether the investment strategy Magic Formula can generate abnormal returns compared with the global stock market, and if it is possible to identify any performance differences between the European stock markets. Furthermore, the study aims to analyze how the re-balancing frequency and the time period effects returns from the Magic Formula. Methodology: To implement the study we have used a quantitative strategy with a deductive design. We have implemented a time series analysis where portfolios have been constructed and analyzed based on its return and risk. The results have been statistically tested through pairwise t-tests and regressions. The study is conducted on the European market from 2007-04-01 to 2017-04-01. Conclusion: 14 of the 18 Magic Formula portfolios have performed worse than the benchmark, according to annual average return and total return. Three of the 14 portfolios have had a significant lower return. The financial crisis affected the results greatly. If we excluded this time period only 11 portfolios performed worse, however without statistical support behind the results. Our results also suggest that a less frequent re-balancing of the portfolio generates higher return than a more frequent re-balancing.
5
Zeidler, Rodolfo Gunther Dias. "Eficiência da magic formula de value investing no mercado brasileiro." reponame:Repositório Institucional do FGV, 2014. http://hdl.handle.net/10438/12099.
Full textAbstract:
Submitted by Rodolfo Zeidler (rodolfo.zeidler@gmail.com) on 2014-10-14T12:22:56Z
No. of bitstreams: 1
Dissertação_RodolfoZeidler_MPFE_27.09.2014.pdf: 1031393 bytes, checksum: f0f0d7d38e2df5bf53a35f847db68555 (MD5)Approved for entry into archive by JOANA MARTORINI (joana.martorini@fgv.br) on 2014-10-14T12:55:20Z (GMT) No. of bitstreams: 1 Dissertação_RodolfoZeidler_MPFE_27.09.2014.pdf: 1031393 bytes, checksum: f0f0d7d38e2df5bf53a35f847db68555 (MD5)
Made available in DSpace on 2014-10-14T13:09:41Z (GMT). No. of bitstreams: 1 Dissertação_RodolfoZeidler_MPFE_27.09.2014.pdf: 1031393 bytes, checksum: f0f0d7d38e2df5bf53a35f847db68555 (MD5) Previous issue date: 2014-10-13
O objetivo deste trabalho é realizar procedimento de back-test da Magic Formula na Bovespa, reunindo evidências sobre violações da Hipótese do Mercado Eficiente no mercado brasileiro. Desenvolvida por Joel Greenblatt, a Magic Formula é uma metodologia de formação de carteiras que consiste em escolher ações com altos ROICs e Earnings Yields, seguindo a filosofia de Value Investing. Diversas carteiras foram montadas no período de dezembro de 2002 a maio de 2014 utilizando diferentes combinações de número de ativos por carteira e períodos de permanência. Todas as carteiras, independentemente do número de ativos ou período de permanência, apresentaram retornos superiores ao Ibovespa. As diferenças entre os CAGRs das carteiras e o do Ibovespa foram significativas, sendo que a carteira com pior desempenho apresentou CAGR de 27,7% contra 14,1% do Ibovespa. As carteiras também obtiveram resultados positivos após serem ajustadas pelo risco. A pior razão retorno-volatilidade foi de 1,2, comparado a 0,6 do Ibovespa. As carteiras com pior pontuação também apresentaram bons resultados na maioria dos cenários, contrariando as expectativas iniciais e os resultados observados em outros trabalhos. Adicionalmente foram realizadas simulações para diversos períodos de 5 anos com objetivo de analisar a robustez dos resultados. Todas as carteiras apresentaram CAGR maior que o do Ibovespa em todos os períodos simulados, independentemente do número de ativos incluídos ou dos períodos de permanência. Estes resultados indicam ser possível alcançar retornos acima do mercado no Brasil utilizando apenas dados públicos históricos. Esta é uma violação da forma fraca da Hipótese do Mercado Eficiente.
The main purpose of this work is to back-test the Magic Formula in the Bovespa Stock Exchange, gathering evidences of violations of the Efficient Market Hypothesis in the Brazilian market. The Magic Formula was developed by Joel Greenblatt and consists in a methodology for stock picking that creates portfolios of stocks with high ROICs and high Earnings Yield, following the Value Investing philosophy. Many portfolios were created in the period between December 2002 and May 2014 combining different number of assets per portfolio and different holding periods. All the portfolios, independently of their number of assets or holding periods, presented returns higher than Ibovespa. The differences between the CAGR from the portfolios and from the Ibovespa were significant, the worst performance portfolio presenting CAGR of 27,7%, as compared with 14,1% of Ibovespa. The portfolios also held positive results after being adjusted for risk. The worst return-volatility ratio was 1.2, as compared to 0.6 from Ibovespa. The portfolios containing the assets with the lowest scores also presented good results in the majority of the scenarios, contradicting the initial expectations and the results observed in other works. In addition, simulations were performed for various 5-year periods aiming to check if the results were robust. All the portfolios presented higher CAGR than Ibovespa in all the simulated periods, independently of the number of assets included in the portfolio or the holding period. These results indicate that it is possible to reach above-market returns using historical public data in Brazil. This is a violation of the Efficient Market Hypothesis in its weak form.
6
Hammarling, Stefan, and Henrik Färdig. "Värdeinvesteringar på Stockholmsbörsen : En tillbakablickande studie av The Magic Formula ochBenjamin Grahams senaste strategi." Thesis, Uppsala universitet, Företagsekonomiska institutionen, 2016. http://urn.kb.se/resolve?urn=urn:nbn:se:uu:diva-301112.
Full textAbstract:
Undersökningen genomförs baserat på finansiell data från tidsperioden 2005-2015 påStockholmsbörsen, genom fiktiva aktieportföljer som skapas efter Graham och Greenblattsstrategier. Portföljerna får ett tillskott på 50 000 kr vid två fasta datum årligen där de mest köpvärdaaktierna enligt respektive strategi inhandlas. I tillägg till dessa portföljer skapas ytterligare tvåportföljer med den skillnaden att halva placeringen årligen investeras i obligationsfonder.Resterande investeras i enlighet med Grahams respektive Greenblatts strategier. Undersökningenvisar att båda värdeinvesteringsstrategierna gav en hög avkastning. Bäst resultat fick Greenblattsportfölj som påvisade en genomsnittlig årlig avkastning på hela 19,37 procent! och ett betavärdejämfört med populationen på 0,79. Grahams strategi gav en genomsnittlig årsavkastning på 10,71procent och hade ett något lägre betavärde på 0,7. Samtidigt gav de alternativa portföljerna enavkastning på 10,93 respektive 7,52 procent med viktade betavärden om 0,39 och 0,35 jämfört medpopulationen som helhet. Stockholmsbörsen avkastade under perioden 9,44 procent.
7
Aguz, Josef, and Sebastian Gulin. "Magiska aktieportföljer på den svenska marknaden : en undersökning av the Magic Formula på Stockholmsbörsen." Thesis, Uppsala universitet, Nationalekonomiska institutionen, 2014. http://urn.kb.se/resolve?urn=urn:nbn:se:uu:diva-226709.
Full textAbstract:
Uppsatsen undersöker hur Joel Greenblatts investeringstrategi The Magic Formula presterat på Stockholmsbörsen mellan mars 1993 och mars 2013. Formeln presenteras i Greenblatts bok "The Little Book that Beats the Market" från 2006 och sorterar ut de aktier som har bäst kombinerad ranking av två nyckeltal; Direktavkastning och Avkastning på Kapital. Aktierna bildar en portfölj, vars utveckling jämförs med index. Resultatet av undersökningen visar att The Magic Formula slår index på Stockholmsbörsen och har en högre riskjusterad avkastning. Slutsatsen blir således att Greenblatts investeringstrategi är effektiv på Stockholmsbörsen.
8
Milane, Leonardo Pelae. "Teste de eficiência da magic formula de value investing para o mercado brasileiro de ações." reponame:Repositório Institucional do FGV, 2016. http://hdl.handle.net/10438/15280.
Full textAbstract:
Submitted by Leonardo Milane (lemilane@santander.com.br) on 2016-02-15T21:54:56Z
No. of bitstreams: 1
Tese - Leonardo Milane - Magic Formula.pdf: 348511 bytes, checksum: 91d8cd74adea7ad467c334e5d332aeb4 (MD5)Approved for entry into archive by Renata de Souza Nascimento (renata.souza@fgv.br) on 2016-02-15T21:55:58Z (GMT) No. of bitstreams: 1 Tese - Leonardo Milane - Magic Formula.pdf: 348511 bytes, checksum: 91d8cd74adea7ad467c334e5d332aeb4 (MD5)
Made available in DSpace on 2016-02-16T11:16:35Z (GMT). No. of bitstreams: 1 Tese - Leonardo Milane - Magic Formula.pdf: 348511 bytes, checksum: 91d8cd74adea7ad467c334e5d332aeb4 (MD5) Previous issue date: 2016-02-04
The main purpose of this work is to back-test the Magic Formula in the IBX- 100 index, in order to gather evidence of effectiveness of the respective methodology in the selection of the best stocks and portfolios that beat the IBX-100 in the long run. The Magic Formula was developed by Joel Greenblatt and consists in a methodology for stock picking that creates portfolios of stocks with high ROICs and high Earnings Yield, following the Value Investing philosophy. Many portfolios were created in the period between January 2000 and June 2015 combining different number of stocks per portfolio and different holding periods. Some portfolios did beat the market index, while some did not. Portfolios with a higher number of stocks and longer holding periods seem to perform better than portfolio with fewer stocks and shorter holding periods. The portfolio with 10 stocks, holding period of 1 year, showed the highest CAGR among all portfolios (17,77%), surpassing the IBX-100 CAGR of 13,17% in the same period, even risk-adjusting. Regardless the holding period and the number of stocks, all portfolios presented lower systematic risk than the IBX-100 index (all betas were significant and lower than 1). On the other hand, all alphas were low, rarely significant, suggesting that the active portfolio management that follows the Magic Formula criteria did not add substantial higher returns when compared to market returns.
O objetivo desse trabalho é realizar um procedimento de back-test da Magic Formula no IBX-100, a fim de reunir evidencias sobre a eficiência de tal metodologia no processo de seleção das melhores ações e formação de carteiras que superem o desempenho do IBX-100 no longo prazo. Desenvolvida por Joel Greenblatt, a Magic Formula é uma metodologia de formação de carteiras que consiste em escolher ações com altos ROICs e Earnings Yields, seguindo a filosofia de Value Investing. Diversas carteiras foram montadas no período de janeiro de 2000 a junho de 2015 utilizando diferentes combinações de número de ativos por carteira e períodos de permanência. Nem todas as carteiras apresentaram retornos superiores ao índice de mercado. Aparentemente, as carteiras com mais ações e períodos de permanência mais longos apresentam desempenho superior às carteiras menores e com rotatividade maior (períodos de permanência mais curtos). A carteira de 10 ações, com período de permanência de 1 ano, apresentou o maior CAGR dentre todas as outras (17,77%), superando o CAGR de 13,17% do IBX-100 no mesmo período. Esse resultado foi superior mesmo quando ajustado ao risco. Independentemente do período de permanência e número de ações, todas as carteiras apresentaram riscos sistemáticos menores do que o índice IBX-100 (todos os betas foram significativos e menores do que 1). Por outro lado, os alfas das carteiras foram muito baixos e, raramente, significativos, sugerindo que a gestão ativa de acordo com os critérios da Magic Formula não adiciona retornos substancialmente maiores do que o retorno relacionado à variações de mercado.
9
Nordström, Daniel, and Sofia Lindh. "Magic Formula på den svenska aktiemarknaden : Kan en värdeinvesteringsstrategi generera abnormal avkastning på lång sikt?" Thesis, Uppsala universitet, Företagsekonomiska institutionen, 2020. http://urn.kb.se/resolve?urn=urn:nbn:se:uu:diva-414789.
Full textAbstract:
Att slå marknaden har varit ett kontroversiellt ämne inom akademin under en väldigt lång tid.Enligt EMH, en grundläggande finansteori, är det inte möjligt att “slå marknaden” under enlång tid utan att ta högre risk. Hedgefond-förvaltaren Joel Greenblatt publicerade år 2006 enformel som ska kunna prestera över marknaden till lägre risk, även långsiktigt, The MagicFormula. Denna studie utvärderar en Magic Formula-portfölj på den svenska marknaden i syfteatt undersöka om den kan generera en abnormal avkastning i perioden år 2000-2020. Dettagenomförs genom en kvantitativ analys. Resultaten visar att Magic Formula-portföljensintercept är signifikant skiljt från 0 i Fama & Frenchs trefaktormodell som inkluderar enmarknads-, storleks- och värdefaktor. Eftersom de riskpremier som testats för inte förklararavkastningen dras slutsatsen att antingen är trefaktormodellen bristfällig, eller så existerar enanomali kopplat till strategin.
10
Widz, Fredrik. "Kan Magic Formula generera Alpha på den Svenska aktiemarknaden efter kontroll för marknadsrisk, företagsstorlek och värdefaktor?" Thesis, Uppsala universitet, Nationalekonomiska institutionen, 2021. http://urn.kb.se/resolve?urn=urn:nbn:se:uu:diva-435843.
Full textAbstract:
This study intends to investigate the use of Joel Greenblatts investing strategy “Magic Formula” on the Swedish stock market for the 10-year period of last of March 2009 to last of March 2019-- a period characterized as a raging bull-market, mainly driven forward by historically low interest rates. This is done by the utilization of back testing, later comparing the returns with a benchmark(OMXSGI) as well as determining if the return can be aptly explained by the asset pricing models CAPM and Fama-French 3 factor with the use of regression analysis. The author found that after transactions cost the two portfolios created according to Magic Formula principles returned 22.63% and 22.21% CAGR which beat the benchmark 15.21% CAGR handily. The alpha of both created portfolios however was shown to be statistical insignificant on the 0.05 significance level when controlling for risk, size and value factors. Further studies are hence recommended—especially on markets which presumably are less efficient and/or over longer period of times with macroeconomic conditions that might reward value more strongly since Magic Formula seems to be capable of being a reasonable screening tool for these types of stocks.
11
Sköld, John, and Philip Granath. "Momentumeffekten i kombination med Magic Formula Investing : En tillbakablickande studie på Nasdaq Stockholm och First North." Thesis, Uppsala universitet, Företagsekonomiska institutionen, 2020. http://urn.kb.se/resolve?urn=urn:nbn:se:uu:diva-416014.
Full textAbstract:
Denna studie behandlar två investeringsstrategier, momentum utifrån Jegadeesh & Titman (1993) och värdeinvestering utifrån Greenblatts (2006) Magic Formula Investing (MFI). Det huvudsakliga syftet med studien är att undersöka om det är möjligt att generera positiv abnormal avkastning på den svenska aktiemarknaden utifrån dessa strategier. Enligt den svaga formen av effektiva marknadshypotesen ska detta inte vara möjligt (Fama, 1970). Det sekundära syftet är att undersöka om en kombinerad strategi byggd på momentum och MFI skapar ännu högre abnormal avkastning än strategierna separat. För att testa strategiernas riskjusterade avkastning används Sharpekvoten. Resultatet av studien visar att portföljerna baserade på momentumeffekten- och MFI genererade högre avkastning än jämförelseindex. Studien finner dock inte statistiskt signifikanta resultat när dessa strategier undersöks separat. I kontrast till de separata strategierna uppnår den kombinerade strategin dock statistiskt signifikant resultat och genererade även högst avkastning av de studerade strategierna. Vilket resulterar i studiens tydligaste bidrag, att en kombinerad värde- och momentumstrategi genererar högre abnormal avkastning än när dessa används separat på den svenska aktiemarknaden under den studerade perioden 2005-2018.
12
Bakircioglu, Eriksson Benjamin, and Karl Svensson. "Magic Formula och Graham Screener på Small, Mid och Large Cap : Hur investeringsstrategier presterar på Stockholmbörsens undergrupperingar." Thesis, Linnéuniversitetet, Institutionen för ekonomistyrning och logistik (ELO), 2020. http://urn.kb.se/resolve?urn=urn:nbn:se:lnu:diva-97041.
Full textAbstract:
Most of the Swedish people are saving their money in savings accounts with limited yield potential. This study examines how the two investment strategies Magic Formula and Graham Screener performs on the Swedish stock market subgroups Large, Mid and Small Cap. With a focus to determine which strategy who suits the private investor best and yield the highest return, with the risk taken into account. The study also examines if it is possible to time the market during a long period of time to yield the highest return possible. After calculating the return on each month and market, the result from this study shows us that Magic Formula is the preferred strategy to use. It was able to yield a higher return over time compared to Graham Screener on each market and with less risk involved. However, Graham Screener should nonetheless be regarded as a qualitative investment decision for the investor. The result also showed us that it is difficult to time the market over time which implicates that return based on a specific month occurs random and should be neglected by the private investor.
13
Crotty, Tammy J. "Left of mainstream : genre fiction and its ability to transcend formula." Virtual Press, 2005. http://liblink.bsu.edu/uhtbin/catkey/1313073.
Full textAbstract:
This collection of short stories studies the elements of genre fiction and applies them to literary fiction. Science fiction, fantasy, and horror have specific manners in which they speak to an audience. By using these elements, for example the desensitization of the current generation of readers to most horrors, an author can demonstrate the core of the human relationship to pain, faith, or hope. Though some genre fiction seems to fit certain formulas, there are also horror or science fiction stories which do not fit a conventional mold. This collection sets forth to break away from genre fiction conventions. Also, this project utilizes the genre of magical realism, which is the medium between genre fiction and literary fiction, by using fantastic events within a mundane setting to emphasize the author's ideas. By bridging the gap between genres, magical realism reveals how interrelated the elements of all genres are. In this study stories use magical and horrifying events while maintaining an intention beyond the formulaic thrill. Therefore, genre fiction can have a place amongst literature.Department of English
14
Johan, Cavallin, and Edvin Raiend. "Är det möjligt att generera överavkastning genom systematisk värdeinvestering? : En studie om ”The Magic Formula” på den svenska aktiemarknaden." Thesis, Uppsala universitet, Företagsekonomiska institutionen, 2021. http://urn.kb.se/resolve?urn=urn:nbn:se:uu:diva-433901.
Full textAbstract:
Är det möjligt att överprestera aktiemarknaden genom investeringsstrategier eller bör den långsiktigeinvesteraren följa indexportföljen? I denna studie appliceras Joel Greenblatts investeringsstrategi ”TheMagic Formula” på den svenska aktiemarknaden under åren 2000-2020. Strategin bygger på systematiskvärdeinvestering där nyckeltalen Return On Invested Capital (ROIC) och Earnings Yield (EY)kombineras för att hitta undervärderade bolag med god resultateffektivitet. En fiktiv portfölj beståendeav 20 likaviktade bolag från NASDAQ Stockholm testas mot SIXRX under denna 20 år lång tidsperiodför att undersöka huruvida strategin överträffat marknadsportföljen på längre sikt. The Magic Formulaportföljen genererade en genomsnittlig avkastning på 13,5% per år i jämförelse med marknadsportföljenSIXRX som under samma period avkastat 6,6% per år. Störst överavkastning finner vi under turbulentabörsår där marknadsportföljen genererat negativ avkastning. I enlighet med tidigare studier på dennordiska marknaden finner vi ett signifikant alfa efter att ha justerat för småbolags- ochvärdebolagseffekten enligt Fama French trefaktormodell. Momentumeffekten tycks dock vara enförklarande faktor då vi ej finner signifikant alfa när månadsavkastning jämförs mot Carhartfyrfaktormodell som tar hänsyn till denna kända anomali.
15
Olišar, Petr. "Identifikace parametrů matematického modelu pneumatik." Master's thesis, Vysoké učení technické v Brně. Fakulta strojního inženýrství, 2020. http://www.nusl.cz/ntk/nusl-432662.
Full textAbstract:
The main goal of this thesis is to obtain lateral parameters of the Magic Formula tire model of a tire commonly used in Formula Student competition. Both the author and the supervisor of the thesis know the tire name and its specification, but the research company that did the tire testing and provided me with the date prohibits sharing this of data publicly, so the tire designation is not mentioned in this thesis. The first chapter covers main theoretical facts related to a tire, briefly describes some of the tire models and shows possibilities how to determine tire characteristics that are used in a tire model. The thesis describes how to process raw tire data measured during a laboratory experiment using scripts created in Matlab software. The inputs variables are slip angle, lateral force, normal force and inclination angle. Raw data are splitted into parts, main coefficients of the Magic formula model (B, C, D, E, Sh, Sv) are calculated and subsequently the lateral parameters are obtained using least square method to fit parameters into the measured data. The works gives two main outcomes. The first output is a set of Matlab scripts that can be used to determine lateral parameters of any tire that has the same input data format as presented. A TIR file of the Formula Student tire in case of lateral slip is the second result of the work. This can be used for vehicle dynamics simulation of Formula Student racing car. The thesis also offers a comparison between parameters, which I calculated, and those gained thanks to Optimum Tire software by Calspan research company. Additionally the work shows the effect of load and inclination angle on lateral force.
16
Ljungberg, Axel, and Anton Högstedt. "Modern Portfolio Theory Combined With Magic Formula : A study on how Modern Portfolio Theory can improve an established investment strategy." Thesis, Linnéuniversitetet, Institutionen för ekonomistyrning och logistik (ELO), 2021. http://urn.kb.se/resolve?urn=urn:nbn:se:lnu:diva-104540.
Full textAbstract:
This study examines whether modern portfolio theory can be used to improve the Magic Formula investment strategy. With the assets picked by the investment strategy we modify the portfolios by weighting the portfolios in accordance with modern portfolio theory. Through the process of creating efficient frontiers and weighting the portfolios differently we create two alternative portfolios each year. One portfolio that aimsfor maximum Sharpe ratio and one that aims for minimum variance. These weighted portfolios produce higher risk-adjusted returns consistently during the examined period of 2010-2020. We conclude that the Magic Formula can be improved by using modern portfolio theory.
17
Thellman, Jonas. "Vehicle Dynamics Testing in Advanced DrivingSimulators Using a Single Track Model." Thesis, Linköpings universitet, Fordonssystem, 2012. http://urn.kb.se/resolve?urn=urn:nbn:se:liu:diva-79397.
Full textAbstract:
The purpose of this work is to investigate if simple vehicle models are realisticand useful in simulator environment. These simple models have been parametrisedby the Department of Electrical Engineering at Linköping University and havebeen validated with good results. The models have been implemented in a simulatorenvironment and a simulator study was made with 24 participants. Eachtest person drove both slalom and double lane change manoeuvres with the simplemodels and with VTI’s advanced model. The test persons were able to successfullycomplete double lane changes for higher velocities with the linear tyre modelcompared to both the non-linear tyre model and the advanced model. The wholestudy shows that aggressive driving of a simple vehicle model with non-linear tyredynamics is perceived to be quite similar to an advanced model. It is noted significantdifferences between the simple models and the advanced model when drivingunder normal circumstances, e.g. lack of motion cueing in the simple model suchas pitch and roll.
18
Hopkins, Brad Michael. "Adaptive Rollover Control Algorithm Based on an Off-Road Tire Model." Thesis, Virginia Tech, 2009. http://hdl.handle.net/10919/36129.
Full textAbstract:
Due to a recent number of undesired rollovers in the field for the studied vehicle, rollover mitigation strategies have been investigated and developed. This research begins with the study of the tire, as it is the single component on the vehicle responsible for generating all of the non-inertial forces to direct the motion of the vehicle. Tire force and moment behavior has been researched extensively and several accurate tire models exist. However, not much research has been performed on off-road tire models. This research develops an off-road tire model for the studied vehicle by first using data from rolling road testing to develop a Pacejka Magic Formula tire model and then extending it to off-road surfaces through the use of scaling factors. The scaling factors are multipliers in the Magic Formula that describe how different aspects of the force and moment curves scale when the tire is driven on different surfaces. Scaling factors for dirt and gravel driving surfaces were obtained by using an existing portable tire test rig to perform force and moment tests on a passenger tire driven on these surfaces. The off-road tire model was then used as a basis for developing control algorithms to prevent vehicle rollover on off-road terrain. Specifically, a direct yaw control (DYC) algorithm based on Lyapunov direct method and an emergency roll control (ERC) algorithm based on a rollover coefficient were developed. Emergency evasive maneuvers were performed in a simulation environment on the studied vehicle driven on dry asphalt, dirt, and gravel for the controlled and uncontrolled cases. Results show that the proposed control algorithms significantly improve vehicle stability and prevent rollover on a variety of driving surfaces.Master of Science
19
Straka, Tomáš. "Matematické modely pneumatik." Master's thesis, Vysoké učení technické v Brně. Fakulta strojního inženýrství, 2021. http://www.nusl.cz/ntk/nusl-449788.
Full textAbstract:
This master‘s thesis describes problematics of mathematical models of tires for computer simulations. The goal of this thesis is to depict currently used models of tires and to compare them. Thesis describes brush type models, Fiala, Magic Formula (Pacejka), FTire, UA-Gim, 521 and DELFT. Those models are compared to each other by simulations carried out in software MSC ADAMS Car. The results are shown in figures with commentary and evaluation. This thesis serves as introduction to problematics of currently used mathematical models of tire in computer simulations.
20
Brindelid, Ludwig, and Tobias Nilsson. "Portfolio performance in Nordic countries : A quantitative comparison study of investment strategies in Denmark, Finland, Norway and Sweden." Thesis, Karlstads universitet, Handelshögskolan (from 2013), 2021. http://urn.kb.se/resolve?urn=urn:nbn:se:kau:diva-84342.
Full textAbstract:
The interest in the stock market has increased in the last couple of years whereas those who invest use all kinds of different strategies, or none at all. Some strategies are quite complicated and time consuming, while others are easier to replicate. The Magic Formula and Piotroski’s F- Score are two of the more well-known investment strategies which have been developed during the 2000s and are relatively easy to follow. The purpose of this study is to compare the performance of the two investment strategies and if they can create excess return in Denmark, Finland and Norway. In addition, the results will be compared to an earlier study made on the Swedish market, for the sake of discovering any differences between the Nordic countries when investing according to these strategies. The results displayed that both strategies outperformed the market indexes most years and that their accumulated returns were far greater than the market indexes between 2012-2021. Out of the Nordic countries, the portfolios in accordance with The Magic Formula and Piotroski’s F-Score both performed best in Norway. In all the three countries, Piotroski’s F-Score was the better-performing strategy over these nine years regarding accumulated return. However, the results only showed statistical differences between the strategies in Norway and Denmark. Regarding differences between the countries, including Sweden, the results indicate that there are only statistical differences in accumulated return between Norway and Sweden concerning The Magic Formula portfolios during 2012-2020. On the other hand, the results for the F-Score portfolios showed statistical differences in accumulated return between all countries except between Denmark and Finland.Under senare år har intresset för aktiemarknaden ökat allt mer, där aktörerna använder sig av en mängd olika sorters strategier, eller ingen alls. Vissa strategier kan anses vara mer komplicerade och tidskrävande medan andra är enklare att följa och förstå. Den Magiska Formeln och Piotroskis F-Score är två av de mer välkända investeringsstrategierna som båda har blivit utvecklade under 2000-talet och är relativt enkla att replikera. Syftet med denna studie är att jämföra prestationen för dessa två investeringsstrategier samt om de kan generera någon överavkastning i Danmark, Finland och Norge. Resultaten kommer dessutom jämföras med en tidigare studie gjord på den svenska marknaden, för att hitta eventuella skillnader mellan de nordiska länderna när investeringar skett enligt dessa strategier. Studiens resultat visade på att båda strategierna överträffar marknadens index flera gånger under tidsperioden samt att dess ackumulerade avkastning var högre än marknadens index mellan 2012–2021. Utav alla nordiska länder presterade portföljerna baserade på Den Magiska Formeln och Piotroskis F-Score bäst i Norge, och för samtliga tre länder presterade Piotroskis F-Score bäst av strategierna gällande ackumulerad avkastning under dessa nio år. Resultaten visade dock enbart statistiska skillnader mellan strategierna i Danmark och Norge. Samtidigt visar resultatet på statistiska skillnader för ackumulerad avkastning mellan länderna Norge och Sverige gällande portföljerna enligt Den Magiska Formeln under 2012–2020. Samma period visar även på statistiska skillnader mellan alla länder förutom Danmark och Finland gällande portföljerna enligt Piotroskis F-Score.
21
Strand, Johanna, and Emilia Karlsson. "Can You Trust Investment Strategies? : An Empirical Study of Five Easily Available Investment Strategies Suitable for All Investors." Thesis, Linnéuniversitetet, Institutionen för ekonomistyrning och logistik (ELO), 2019. http://urn.kb.se/resolve?urn=urn:nbn:se:lnu:diva-84909.
Full textAbstract:
This study examines the Swedish Stock Exchange during the time period of 1998-2016. Where the purpose is to investigate and compare five different investment strategies to see if these investment strategies can create excess return on their investments, after adjustment for risk. The investment strategies can be found on the internet, and be used after purchasing a smaller amount of money, therefore the results can be applied to all investors independent on their level of experience. The results for the different investment strategies are not clear, the different tests give mixed results which leaves four of five hypotheses unanswered. However, there is one strategy that can be rejected, it cannot beat the market, which is the Net-Nets strategy. In general, one could thus say that the investment strategies can create higher return compared to the market, but that these returns are random. Therefore, it requires a longer time period for the investor as well as higher risk, since one never knows when this large return will be given.
22
Chari, Kartik Seshadri. "Dynamic Modelling and Optimal Control of Autonomous Heavy-duty Vehicles." Thesis, KTH, Skolan för elektroteknik och datavetenskap (EECS), 2020. http://urn.kb.se/resolve?urn=urn:nbn:se:kth:diva-291634.
Full textAbstract:
Autonomous vehicles have gained much importance over the last decade owing to their promising capabilities like improvement in overall traffic flow, reduction in pollution and elimination of human errors. However, when it comes to long-distance transportation or working in complex isolated environments like mines, various factors such as safety, fuel efficiency, transportation cost, robustness, and accuracy become very critical. This thesis, developed at the Connected and Autonomous Systems department of Scania AB in association with KTH, focuses on addressing the issues related to fuel efficiency, robustness and accuracy of an autonomous heavy-duty truck used for mining applications. First, in order to improve the state prediction capabilities of the simulation model, a comparative analysis of two dynamic bicycle models was performed. The first model used the empirical PAC2002 Magic Formula (MF) tyre model to generate the tyre forces, and the latter used a piece-wise Linear approximation of the former. On top of that, in order to account for the nonlinearities and time delays in the lateral direction, the steering dynamic equations were empirically derived and cascaded to the vehicle model. The fidelity of these models was tested against real experimental logs, and the best vehicle model was selected by striking a balance between accuracy and computational efficiency. The Dynamic bicycle model with piece-wise Linear approximation of tyre forces proved to tick-all-the-boxes by providing accurate state predictions within the acceptable error range and handling lateral accelerations up to 4 m/s2. Also, this model proved to be six times more computationally efficient than the industry-standard PAC2002 tyre model. Furthermore, in order to ensure smooth and accurate driving, several Model Predictive Control (MPC) formulations were tested on clothoid-based Single Lane Change (SLC), Double Lane Change (DLC) and Truncated Slalom trajectories with added disturbances in the initial position, heading and velocities. A linear time-varying Spatial error MPC is proposed, which provides a link between spatial-domain and time-domain analysis. This proposed controller proved to be a perfect balance between fuel efficiency which was achieved by minimising braking and acceleration sequences and offset-free tracking along with ensuring that the truck reached its destination within the stipulated time irrespective of the added disturbances. Lastly, a comparative analysis between various Prediction-Simulation model pairs was made, and the best pair was selected in terms of its robustness to parameter changes, simplicity, computational efficiency and accuracy.Under det senaste årtiondet har utveckling av autonoma fordon blivit allt viktigare på grund av de stora möjligheterna till förbättringar av trafikflöden, minskade utsläpp av föroreningar och eliminering av mänskliga fel. När det gäller långdistanstransporter eller komplexa isolerade miljöer så som gruvor blir faktorer som bränsleeffektivitet, transportkostnad, robusthet och noggrannhet mycket viktiga. Detta examensarbete utvecklat vid avdelningen Connected and Autonomous Systems på Scania i samarbete med KTH fokuserar på frågor gällande bränsleeffektivitet, robusthet och exakthet hos en autonom tung lastbil i gruvmiljö. För att förbättra simuleringsmodellens tillståndsprediktioner, genomfördes en jämförande analys av två dynamiska fordonsmodeller. Den första modellen använde den empiriska däckmodellen PAC2002 Magic Formula (MF) för att approximera däckkrafterna, och den andra använde en stegvis linjär approximation av samma däckmodell. För att ta hänsyn till ickelinjäriteter och laterala tidsfördröjningar inkluderades empiriskt identifierade styrdynamiksekvationer i fordonsmodellen. Modellerna verifierades mot verkliga mätdata från fordon. Den bästa fordonsmodellen valdes genom att hitta en balans mellan noggrannhet och beräkningseffektivitet. Den Dynamiska fordonsmodellen med stegvis linjär approximation av däckkrafter visade goda resultat genom att ge noggranna tillståndsprediktioner inom det acceptabla felområdet och hantera sidoacceleration upp till 4 m/s2 . Den här modellen visade sig också vara sex gånger effektivare än PAC2002-däckmodellen. v För att säkerställa mjuk och korrekt körning testades flera MPC varianter på klotoidbaserade trajektorier av filbyte SLC, dubbelt filbyte DLC och slalom. Störningar i position, riktining och hastighet lades till startpositionen. En MPC med straff på rumslig avvikelse föreslås, vilket ger en länk mellan rumsdomän och tidsdomän. Den föreslagna regleringen visade sig vara en perfekt balans mellan bränsleeffektivitet, genom att minimering av broms- och accelerationssekvenser, och felminimering samtidigt som lastbilen nådde sin destination inom den föreskrivna tiden oberoende av de extra störningarna. Slutligen gjordes en jämförande analys mellan olika kombinationer av simulerings- och prediktionsmodell och den bästa kombinationen valdes med avseende på dess robusthet mot parameterändringar, enkelhet, beräkningseffektivitet och noggrannhet.
23
Bramell, Filip, and Alexander Östlund. "Värdeinvestering på Stockholmsbörsen : En kvantitativ studie om den effektiva maknadshypotesen och värdeinvesteringsstrategier på Stockholmsbörsen." Thesis, Linnéuniversitetet, Institutionen för ekonomistyrning och logistik (ELO), 2021. http://urn.kb.se/resolve?urn=urn:nbn:se:lnu:diva-104808.
Full textAbstract:
This study examines the total cumulative return and the total risk-adjusted return for OMXSPI and the two investment strategies The Magic Formula and The Acquirer’s Multiple. The aim is to find out if it’s possible to beat the market over time in contradiction to the efficient market hypothesis. Data has been collected to cover a 15-year period between 2005 and 2020. The results end up challenging the efficient market hypothesis with higher total cumulative returns, but also fairly convincingly higher risk-adjusted returns from the strategies. The study also found that the Acquirer’s Multiple outperformed the Magic Formula with regards to both measures.
24
Pereswetoff-Morath, Sofia. "Vikingatida runbleck : Läsningar och tolkningar." Doctoral thesis, Uppsala universitet, Institutionen för nordiska språk, 2017. http://urn.kb.se/resolve?urn=urn:nbn:se:uu:diva-319846.
Full textAbstract:
Föreliggande avhandling syftar till att utveckla läsningen och tolkningen av inskrifterna på de i dagsläget 46 kända vikingatida runblecken. Målet är att ge en så tydlig bild som möjligt av inskriftsgenren vikingatida runbleck. I detta syfte har upprepade fältundersökningar av runblecken genomförts med stereomikroskop. På grundval av på så vis etablerade nya läsningar föreslås nya tolkningar till de mest problematiska ställena i de tidigare tolkade runblecksinskrifterna. Nya tolkningsförslag ges även för runblecksinskrifter som tidigare har ansetts vara olexikaliska. Utöver nya läsningar och tolkningar resulterar denna studie i en kartläggning av relationen mellan runblecksinskrifternas innehåll och form å den enda sidan och runbleckens fyndmiljöer och utseende å den andra.The aim of this dissertation is to represent as clearly as possible the genre of Viking-Age runic plates by developing readings and interpretations of the inscriptions on the 46 metal plates with runes from the Viking Age known today. Several investigations of the runic plates have been conducted with a stereomicroscope for this purpose. On the basis of the new readings thus established, new interpretations have been proposed for the most problematic sections of previously interpreted inscriptions. New interpretations are also offered for inscriptions on runic plates which have previously been considered non-lexical. As well as providing new readings and interpretations, this study has resulted in clarification of the relationship between the form and content of the inscriptions on the runic plates on the one hand and on their find circumstances and appearance on the other.
25
Lai, Yu-Chi, and 賴宥吉. "Sponsorship─a Magic Formula for a Brand?" Thesis, 2012. http://ndltd.ncl.edu.tw/handle/42573270048014120837.
Full textAbstract:
碩士朝陽科技大學
應用外語研究所
100
Sports sponsorship has gained great attention of the researchers and marketing managers in the recent decade. However, there has not been enough research on the effect of fit between an event sponsored and a sponsor on brand equity of the sponsoring corporation. In the meantime, the effect of participants’ satisfaction towards the event sponsored has yet to be examined. This research aims to explore the relationships among fit, satisfaction, brand equity, purchase intentions and involvement. Qualitative and quantitative methods were adopted in this research. The former interviewed a vice-general manager of a sponsoring corporation to understand why a corporation was willing to sponsor sports events; the latter distributed a total of 300 questionnaires to participants who had taken part in two marathons sponsored by Chunghwa Telecom and Mizuno respectively. The finding indicated that fit between a sports event sponsored and a sponsoring corporation had a positive influence on the brand equity of a sponsoring corporation and further enhance participants’ purchase intentions. However, participants’ involvement in sport and sports events failed to mediate the relationship between brand equity and purchase intentions. A final conclusion was that before engaging in sports sponsorship, sponsoring corporations should take into account fit between sports events sponsored and the sponsor. In addition, participants’ satisfaction toward the event sponsored should also be carefully dealt with in the process of holding a sports event.
26
YING-TING, LIAO, and 廖英廷. "Empirical Study of Greenblatt Magic Formula Components in Taiwan Stock Market." Thesis, 2018. http://ndltd.ncl.edu.tw/handle/gsba7r.
Full textAbstract:
碩士康寧大學
企業管理研究所
106
Magic formula is one of the methods of value investing. Its components include the return on capital and the earnings yield. This study takes public traded companies in Taiwan from 2005 to 2016 as the research subject, and ranks the stocks every year with the return on capital, the earnings yield and the magic formula to create portfolios and compare performance of portfolios with the Taiwan 50 index. The empirical result shows that the portfolio of magic formula has the best performance, reaching 140.87% of the total return and 7.6% of the annualized return. As for the risk of portfolios, the standard deviation of return on capital is the lowest. The downside standard deviation of magic formula is the lowest, and it is lower than Taiwan 50 index. The Sharpe ratio and the Sortino ratio of magic formula are better than the other portfolios. However, the performance of the return on capital and the magic formula was only better than that of Taiwan 50 index in 6 years, and the performance of the earnings yield was only better than Taiwan 50 index in 5 years. Thus it can be seen that if investors want to use the magic formula to create excess return, they must endure the rate of return will be less than the index in some years. In the one-way ANOVA, the results of the analysis are not significantly different and it is impossible to prove that there is a significantly difference between the returns of each portfolio and the Taiwan 50 index.
27
CHYI-JIA, TAI, and 戴琦家. "Parameter Identification of the Magic Formula Tire Model with application to Vehicle Dynamics Simulation." Thesis, 2006. http://ndltd.ncl.edu.tw/handle/27911416041878969846.
Full textAbstract:
碩士國防大學中正理工學院
兵器系統工程研究所
94
The mechanics of a pneumatic tire has a great influence on the vehicle dynamics performances. Thus, an appropriate mathematical tire model is fundamental to research into vehicle dynamics analysis and simulation. The Magic Formula tire model is one of the popular tire models and has been broadly used by researchers to investigate vehicle dynamics and control. The research is aiming at identifying the tire load related parameters of the Magic Formula tire model proposed by Bakker and Pacejka in 1987 via optimization methods. The expression of the lateral force, self-aligning torque and longitudinal force of a tire in terms of the parameters of the Magic Formula will be introduced first. Parameter identification is then carried out in the Matlab environment by minimizing the errors between the theoretical curves generated by the Magic Formula and the experimental tire data via the optimization toolbox. Substituting the identified parameters into the Magic Formula exhibits good accuracy between the theoretical curves and the tire data. Therefore, the research method proposed in this study is proved to be appropriate. The result of this research may be used as a basis for future vehicle dynamics and control design.
28
Pinto, Michael Carvalho 1990. "Do outro lado do muro pelo meio dos Círculos de Cultura e do Magic Circle." Master's thesis, 2016. http://hdl.handle.net/10451/27176.
Full textAbstract:
Relatório de estágio de mestrado, Educação e Formação (Área de especialidade em Desenvolvimento Social e Cultural), Universidade de Lisboa, Instituto de Educação, 2016Num mundo em que a Aprendizagem ao Longo da Vida tem influência no sistema político, económico e social em que vivemos, este documento tenta relatar a dimensão humana focando-se na Educação Permanente, cuja preocupação fundamental foi trabalhar diretamente com os jovens num projeto elaborado com eles e para eles. Nesta conformidade, o trabalho efetuado foi inspirado pelo projeto Vozes e por pedagogos tais como Harold Bessel, Uvaldo Palomares, Paulo Freire, entre outros, que tiveram uma influência primordial no que diz respeito à Educação Não Formal e Formal. As metodologias, tais como Círculos de Cultura e Magic Circle, foram colocadas em prática para dar voz aos jovens residentes numa instituição católica, com algumas restrições decorrentes desse estatuto, para que se exprimissem através da arte. As metodologias de Bessel e Palomares (1973) e Freire (2015) permitiram o desenvolvimento da interação social e o respeito pelo outro por intermédio da comunicação e da consciencialização da identidade de cada indivíduo. Por fim, este trabalho demonstra como foi possível dar voz aos jovens, utilizando simultaneamente duas metodologias diferentes, mas que se complementam por potencializar os indivíduos e concedendo-lhes a oportunidade de criar o seu próprio projeto, assim como de se expressarem através da arte. Os adolescentes e jovens optaram por um projeto – dança-teatral – peça de teatro com dança – inspirado numa obra cinematográfica intitulada “Honey”.
We live in a world where “learning throughout life” (standardized education) has an influence upon the political, economic and the social system in which we live. This document tries to relate the human dimension by focusing on the “permanent education” of whose final preoccupation is to work directly with young people in a project created by them and with them. Through this conformity, the young people’s executed work was inspired in the Projeto Vozes and by pedagogues like Harold Bessel, Uvaldo Palomares, Paulo Freire and others, who had a fundamental influence in terms of non-formal and formal education. Methodologies such as Círculos de Cultura and Magic Circle where established to give voice to young people, that live within to confines of catholic institutions, with religious constraint under this statute, so that they could expresses themselves through art. Bessel’s and Palomares’ (1973) and Freire’s (2015) methodologies enabled the development of social interaction and the respect for others through communication and by self-realization from each individual. Finally, this work shows how it was possible to give voice to young people by using two different methodologies, but that complemented by potentiating the opportunities of the individuals in order to create their own project and to express it through art. The adolescents and young people opted for a dance-theater project, inspired by the movie “Honey” that consists of a theater session with dance where they acted in front of a public.