Professional Documents
Culture Documents
Time decay
Related: Theta
Liquidity Fund
A California company that buysreal estatelimited partnershipinterests at 25% to
35% lower than the current value of the real estate assets.
Back office
Brokerage house clerical operations that support, but do not include, the trading
of stocks and other securities. All written confirmation and settlement of trades,
record keeping, and regulatory compliance happen in the back office.
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Real assets
Identifiable assets, such as land and buildings, equipment, patents, and
trademarks, as distinguished from a financialinvestment.
Get out
Used in the context of general equities. Sell interest ("We could get out big size
in Humana.")
Pattern
A technical chart formation used to make market predictions by following the price
movements of securities.
"Static" Return
The return that an investor would make on a particular position if the underlying
stock were unchanged in price at the expiration of the options in the position.
Par
Equal to the nominal or face value of a security. A bond selling at par is worth
an amount equivalent to its original issue value or its value upon redemption at
maturity-typically $1000/bond. See: Discount, premium.
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Functional currency
As defined by FASB No. 52, an affiliate'sfunctional currency is the currency of
the primary economic environment in which the affiliate generates and expends
cash.
Cash sale/settlement
Transaction in which a contract is settled on the same day as the trade date, or
the next day if the trade occurs after 2:30 p.m. EST and the parties agree to this
procedure. Often occurs because a party is strapped for cash and cannot wait until
the regular three-business daysettlement. See: Settlement date.
Excise tax
Federal or state tax placed on the sale or manufacture of a commodity, typically a
luxury item e.g., alcohol.