Upside risks to our view could come from another infrastructure boom (not our base case).
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Our base case estimates project 8.8 trades per brokerage account (on average) in 2011.
Their base case for commodities is that agricultural markets will stumble along in a low growth global economic environment.
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Below is a table that provided details of my base case and three scenarios vs. the December 2011 quarter.
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Moffett says his base case scenario assumes a 65% probability the deal close.
To illustrate the degree, consider a 30% decline in sales to Italy from our base case estimates for 2011 and onwards.
In a base case scenario for Paul voters, the Congressman could in theory emerge the winner on the convention floor this summer.
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His base case scenario has Europe surviving this current debacle and devising a fiscal union that makes the euro zone stronger than ever.
Our Lucasfilm valuation is almost entirely driven by the Star Wars franchise, so any success from other franchises would provide upside to our base case.
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The first looks at a base case of just pharmaceutical sales.
The adverse scenario for card losses envisaged in American banks' stress tests, a cumulative two-year loss rate of 22.5%, looks increasingly like the base case to others.
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If we carry this hypothetical 30% decline forward, the annual difference from our base case estimate would be about 300 MW by the end of our forecast period.
But in his base case they are worth just 17p.
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In our one year investment horizon, we see at least 25% share appreciation in the base case, and upwards of 75% with a meaningful increase in natural gas prices.
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Their base case is that China GDP will grow by about 8 percent in 2012-14, but concluded that these six reasons were sufficiently compelling to assign a one-in-three likelihood of a hard landing before 2015.
While our base case scenario envisions pricing declines to level off due to the growth of the smartphone segment that should offset the downward pricing pressures, we assess the downside risk here in the event that the current rate of pricing declines continue into the future.
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While slightly smaller forces were capable of prevailing without a significant increase in risk in the base case of the analysis, a larger force was judged necessary to conduct these operations with acceptable risk when either enemy chemical weapons were used or shorter warning times were played.
For example, the Conference Board in the November 2012 Global Outlook (see chart below) forecasted an annualized growth rate of 2.3% in its base case for the years 2013-208 and a further reduced annualized growth rate projection of 2.0% in its base case for the years 2019-2025, representing a distribution of roughly 18% of overall World output.
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Bottom line: If, consistent with our base-case expectation, the U.S. averts a recession, equities are inexpensive enough to provide investors with an attractive risk-reward profile.
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Prosecutors base their case on testimony and documentation provided by a Moroccan man operating as a police informant and on wiretaps and intercepted correspondence between some of the suspects, according to the document and the court source.
As is the case for base-metals producers, mining costs are rising, analysts said.
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If this is indeed the case, our base price estimate might be overvaluing the company by a full 10%.
He turns artwork 90 degrees on its side so that it is best viewed with the opening of the CD case at the base of the picture.
In that case, his conservative base will doubtless accuse him of flinching, like his dad.
That doesn't sound a strong enough case upon which to base their argument.
In any case, if those base specs are too weak for you, you can get it with an i5 or i7 processor, 8GB of RAM and discrete NVIDIA GeForce GT 630M graphics with 2GB of memory.
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Although the rate of decline has slowed down, we do not foresee a case where the DVD subscriber base will stabilize, let alone grow.
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Clearly, this is not the case with Obama as his base is ready to string him up by the fingernails for doing the right thing.
Everything is joined by a unique, hand-cut case whose backbone and elevated base hide the custom wiring, the watercooling pump, two solid-state drives and controllers for both fans and lighting.
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