input stringlengths 1 125 | context stringlengths 8 1.18k | output int64 0 1 |
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Foreign Exchange Markets | Foreign Exchange Markets | 1 |
Quarter (Q1, Q2, Q3, and Q4) | A quarter is a three-month period on a company's financial calendar that acts as a basis for periodic financial reports and the paying of dividends. A quarter refers to one-fourth of a year and is typically expressed as "Q1” for the first quarter, “Q2” for the second quarter, and so forth. For example, a quarter is oft... | 1 |
Valuation Reserve | Valuation reserves are assets that insurance companies set aside per state law to mitigate the risk of declines in the value of investments they hold. They function as a hedge to an investment portfolio and ensure that an insurance company remains solvent. | 1 |
VRN | See VARIABLE RATE NOTE. | 0 |
reinvestment rate risk | The uncertainty surrounding the cumulative future value of reinvested bond coupon payments. | 0 |
Green Card | A green card is a colloquial name for the identification card issued by U.S. Citizenship and Immigration Services to permanent residents, who are legally allowed to live and work in the U.S. indefinitely. Green cards got their nickname because they were green in color from 1946 to 1964. In 2010 they became green again,... | 1 |
Product, average | Refer to average product. | 1 |
Portfolio Runoff | Portfolio runoff is a general concept in portfolio management that describes situations where assets decrease. Runoff can occur for a variety of reasons including the maturation or expiration of securities, liquidation of certain assets, or any other situation where assets decrease or are withdrawn from a portfolio. | 1 |
DPO | See DIRECT PUBLIC OFFERING. | 0 |
Expansion | Expansion is the phase of the business cycle where real gross domestic product (GDP) grows for two or more consecutive quarters, moving from a trough to a peak. Expansion is typically accompanied by a rise in employment, consumer confidence, and equity markets and is also referred to as an economic recovery. | 1 |
Regulatory risk | A RISK faced by private-sector FIRMS that regulatory changes will hurt their business. In competitive markets, regulatory risk is usually small. But in NATURAL MONOPOLY industries, such as electricity distribution, it may be huge. To ensure that regulatory risk does not deter private firms from offering their services,... | 1 |
IBF | See INTERNATIONAL BANKING FACILITY. | 0 |
Loophole | A loophole is a technicality that allows a person or business to avoid the scope of a law or restriction without directly violating the law. Used often in discussions of taxes and their avoidance, loopholes provide ways for individuals and companies to remove income or assets from taxable situations into ones with lowe... | 1 |
Expansionary Policy | Expansionary, or loose policy is a form of macroeconomic policy that seeks to encourage economic growth. Expansionary policy can consist of either monetary policy or fiscal policy (or a combination of the two). It is part of the general policy prescription of Keynesian economics, to be used during economic slowdowns an... | 1 |
CUSHION BOND | A CALLABLE BOND with a high COUPON that is selling for a PREMIUM. The cushion bond loses less value as rates rise and gains less value when rates fall when compared with a NONCALLABLE BOND. | 0 |
Quid Pro Quo | Quid pro quo is Latin term for "something for something" that originated in the middle ages in Europe. It describes a situation when two parties engage in a mutual agreement to exchange goods or services reciprocally. In a quid pro quo agreement, one transfer is thus contingent upon some transfer from the other party. | 1 |
MOB SPREAD | See MUNICIPALS OVER BONDS SPREAD. | 0 |
Services (elementary) | Activities people do for us. | 1 |
Cost-benefit analysis | A method of reaching economic decisions by comparing the costs of doing something with its benefits. It sounds simple and common-sensical, but, in practice, it can easily become complicated and is much abused. With careful selection of the assumptions used in cost-benefit analysis it can be made to support, or oppose, ... | 1 |
Loan guarantee | A contract binding a third party to pay off a loan if the borrower defaults. | 1 |
Backdoor Roth IRA | A backdoor Roth IRA is not an official type of retirement account. Instead, it is an informal name for a complicated but IRS-sanctioned method for high-income taxpayers to fund a Roth, even if their incomes exceed the limits that the IRS allows for regular Roth contributions. Brokerages that offer both traditional IRAs... | 1 |
EXPECTED RETURN | The estimated value of an ASSET or INVESTMENT, typically determined from a probability distribution of all possible return outcomes. | 0 |
Mixed economy (elementary) | An economic system where buyers and sellers meet to exchange goods and services and decide on price with some government involvement in the economy. | 1 |
reversal effect | The tendency of poorly performing stocks and well-performing stocks in one period to experience reversals in following periods. | 0 |
bank holding companies | Companies that own one or more banks. | 0 |
Float | In financial terms, the float is money within the banking system that is briefly counted twice due to time gaps in registering a deposit or withdrawal. These time gaps are usually due to the delay in processing paper checks. A bank credits a customer’s account as soon as a check is deposited. However, it takes some tim... | 1 |
credit default swap CDS | An insurance policy on the credit risk of a corporate bond or loan. | 0 |
Tax incidence | See incidence. | 1 |
REFINANCING RISK | See REPRICING RISK. | 0 |
interest rate parity relationship theorem | The rela-tion between spot and forward exchange rates and for-eign and domestic interest rates that rules out arbitrage opportunities. | 0 |
NYSE EURONEXT | An international HOLDING COMPANY formed from the 2007 MERGER of the NEW YORK STOCK EXCHANGE and EURONEXT, itselfthe product of a merger of the STOCK exchanges of Amsterdam, Brussels, Paris, and Lisbon, and the DERIVATIVES exchange London International Financial Futures and Options Exchange. The NYSE Euronext group exch... | 0 |
Land tax | Henry George, a 19th-century American economist, believed that taxes should be levied only on the value of LAND, not on LABOUR or CAPITAL. This 'single tax', he asserted in his book, PROGRESS AND POVERTY, would end UNEMPLOYMENT, POVERTY, INFLATION and INEQUALITY. Many countries levy some tax on land or property values... | 1 |
Accrued Income | Accrued income is money that's been earned but has yet to be received. Mutual funds or other pooled assets that accumulate income over a period of time—but only pay shareholders once a year—are, by definition, accruing their income. Individual companies can also generate income without actually receiving it, which is t... | 1 |
Order Driven Market | An order-driven market is a financial market where all buyers and sellers display the prices at which they wish to buy or sell a particular security, as well as the amounts of the security desired to be bought or sold. This kind of trading environment is the opposite of a quote-driven market, which only displays bids a... | 1 |
DIRECT LAWSUIT | A legal action where one or more SHAREHOLDERS sue DIRECTORS or executives directly, rather than through the CORPORATION, for breach of duties. See also DERIVATIVE LAWSUIT. | 0 |
Present Value | Present value (PV) is the current value of a future sum of money or stream of cash flows given a specified rate of return. Future cash flows are discounted at the discount rate, and the higher the discount rate, the lower the present value of the future cash flows. Determining the appropriate discount rate is the key t... | 1 |
Oral Contract | An oral contract is a type of business contract that is outlined and agreed to via spoken communication, but not written down. Although it can be difficult to prove the terms of an oral contract in the event of a breach, this type of contract is legally binding. Oral contracts are often mistakenly referred to as verbal... | 1 |
Grantor | A grantor is an individual or other entity that creates a trust (i.e., the individual whose assets are put into the trust) regardless of whether the grantor also functions as the trustee. The grantor may also be referred to as the settlor, trustmaker, or trustor. | 1 |
Treasury Notes | A Treasury note (T-note for short) is a marketable U.S. government debt security with a fixed interest rate and a maturity between one and 10 years. | 1 |
Direct taxation | Taxes levied on the INCOME or wealth of an individual or company. Contrast with INDIRECT TAXATION. In much of the world, direct tax rates fell during the 1980s and 1990s, partly because some economists argued that high rates of tax on income discouraged people from working, and that high rates of tax on PROFIT encourag... | 1 |
Flow-Through Entity | A flow-through entity is a legal business entity that passes any income it makes straight to its owners, shareholders, or investors. As a result, only these individuals—and not the entity itself—are taxed on the revenues. Flow-through entities are a common device used to avoid double taxation, which happens with income... | 1 |
COLLATERAL TRUST BOND | A BOND secured by a PORTFOLIO of ASSETS owned by the ISSUER. Unlike a PASS-THROUGH SECURITY, the issuer retains sole ownership interest in the assets, which remain on the corporate BALANCE SHEET. See also MORTGAGE-BACKED BOND.COMPANION BOND, INTEREST-ONLY STRIP, PLANNED AMORTIZATION CLASS BOND, PRINCIPAL-ONLY STRIP, TA... | 0 |
Documentary Collection | Documentary collection is a form of trade finance in which an exporter is paid for its goods by an importer after the two parties' banks exchange the required documents. The exporter's bank collects funds from the importer's bank in exchange for documents releasing title to the shipped merchandise, usually after the go... | 1 |
Backwards Induction | A procedure for working from the end of a tree to its beginning in order to value an option. | 0 |
Ex ante consumption | The value of planned consumption. | 1 |
STATUTORY PROFIT | In INSURANCE, a measure of an INSURER’s profitabil- ity, typically defined as earned PREMIUMS less total EXPENSES and losses paid. | 0 |
Letter of Guarantee | A letter of guarantee is a type of contract issued by a bank on behalf of a customer who has entered a contract to purchase goods from a supplier. The letter of guarantee lets the supplier know that they will be paid, even if the customer of the bank defaults. To get a letter of guarantee, the customer will need to app... | 1 |
PERPETUAL SUCCESSION | A concept in corporate law that allows for the permanent and continuing existence of a CORPORATION, regardless of the departure or demise of founders or executives, or the sale of SHARES by ori- ginal or existing SHAREHOLDERS. | 0 |
ACCRUAL BASIS | See ACCRUAL ACCOUNTING. | 0 |
MSCI All Country World Index (ACWI) | The MSCI All Country World Index (ACWI) is a stock index designed to track broad global equity-market performance. Maintained by Morgan Stanley Capital International (MSCI), the index is comprised of the stocks of about 3,000 companies from 23 developed countries and 26 emerging markets. | 1 |
Exponential Moving Average (EMA) | An exponential moving average (EMA) is a type of moving average (MA) that places a greater weight and significance on the most recent data points. The exponential moving average is also referred to as the exponentially weighted moving average. An exponentially weighted moving average reacts more significantly to recent... | 1 |
HANDLE | The whole number appearing to the left of the decimal in a SECURITIES or FOREIGN EXCHANGE price, often ignored by DEALERS and MARKET MAKERS quoting BIDS or OFFERS as they are implicitly understood. Also known as BIG FIGURE. | 0 |
Law of Diminishing Marginal Returns | The law of diminishing marginal returns is a theory in economics that predicts that after some optimal level of capacity is reached, adding an additional factor of production will actually result in smaller increases in output. | 1 |
SPECIFIC RISK | See DIVERSIFIABLE RISK. | 0 |
zero-lower-bound problem | Situation in which the central bank is unable to lower the policy interest rate further because it has hit a ˚oor of zero. | 0 |
Federal Income | The federal income tax is the tax levied by the Internal Revenue Service (IRS) on the annual earnings of individuals, corporations, trusts, and other legal entities. Federal income taxes are applied to all forms of earnings that make up a taxpayer's taxable income, such as employment earnings or capital gains. | 1 |
Conglomerate | A conglomerate is a corporation that is made up of a number of different, sometimes unrelated businesses. In a conglomerate, one company owns a controlling stake in a number of smaller companies all of whom conduct business separately and independently. | 1 |
(CUSIP) | A 9-digit SECURITY identification code assigned by Standard and Poor’s to US and Canadian BONDS and STOCKS. The first 6 digits iden- tify the ISSUER, the next 2 digits identify the type of security issued, and the final digit serves as a check. See also CUSIP INTERNATIONAL NUMBER, INTERNATIONAL SECURITIES IDENTIFICATIO... | 0 |
Binomial Model | A model where the price of an asset is monitored over successive short periods of time. In each short period it is assumed that only two price movements are possible. | 0 |
Diversification | Reducing risk by dividing a portfolio between many different assets. | 0 |
Open Market | An open market is an economic system with little to no barriers to free-market activity. An open market is characterized by the absence of tariffs, taxes, licensing requirements, subsidies, unionization, and any other regulations or practices that interfere with free-market activity. Open markets may have competitive b... | 1 |
INSTITUTIONAL INVESTOR | A large, professional INVESTOR, such as aPENSION FUND, INSURANCE FUND, MUTUAL FUND, UNIT INVESTMENT TRUST or HEDGE FUND, which often deals on behalf of a large number of small investors. The largest institutional investors manage significant amounts of CAPITAL and can have a decisive impact on market prices. See also R... | 0 |
Capacity | The amount a company or an economy can produce using its current equipment, workers, CAPITAL and other resources at full tilt. Judging how close an economy is to operating at full capacity is an important ingredient of MONETARY POLICY, for if there is not enough spare capacity to absorb an increase in DEMAND, PRICES ... | 1 |
Cash Flow from Investing Activities | Cash flow from investing activities is one of the sections on the cash flow statement that reports how much cash has been generated or spent from various investment-related activities in a specific period. Investing activities include purchases of physical assets, investments in securities, or the sale of securities or... | 1 |
Unified Tax Credit | A unified tax credit is a certain amount of assets that each person is allowed to gift to other parties without having to pay gift, estate, or generation-skipping transfer taxes. The credit is afforded to every man, woman, and child in America by the Internal Revenue Service (IRS). | 1 |
Accountability | Accountability is when an individual or department experiences consequences for their performance or actions. Accountability is essential for an organization and for a society. Without it, it is difficult to get people to assume ownership of their own actions because they believe they will not face any consequences. | 1 |
Base Effect | The base effect is the effect that choosing a different reference point for a comparison between two data points can have on the result of the comparison. This often involves the use of some kind of ratio or index value between two points in a time-series data set, but can also apply to cross-sectional or other types o... | 1 |
SENIOR SECURED DEBT | A form of SENIOR DEBT with COLLATERAL or SECURITY pledged in support of repayment in the event of a BORROWER’S DEFAULT. | 0 |
incentive fee | A fee charged by hedge funds equal to a share of any investment returns beyond a stipulated bench-mark performance. | 0 |
return on assets @ROA@ | Net profit after taxes per dollar of assets. | 0 |
NET POSITION | The difference between a LONG POSITION and a SHORT POSITION in the same ASSET or SECURITY. | 0 |
Affirmative Action | Affirmative action is a policy that aims to increase opportunities in the workplace or education to underrepresented parts of society by taking into account an individual's color, race, sex, religion, or national origin. | 1 |
TWISTING | See CHURNING. | 0 |
INTERIM FINANCIAL STATEMENTS | A set of FINANCIAL STATEMENTS produced by a company for a specific interim reporting period, which generally occurs quarterly or semiannually. Unlike a company’s annual accounts, the interim statements may not be externally AUDITED. Also known as INTERIM ACCOUNTS. | 0 |
Effective Interest Method Definition | The effective interest method is an accounting standard used to amortize, or discount a bond. This method is used for bonds sold at a discount, where the amount of the bond discount is amortized to interest expense over the bond's life. | 1 |
Economic Stimulus | Economic stimulus is action by the government to encourage private sector economic activity by engaging in targeted, expansionary monetary or fiscal policy based on the ideas of Keynesian economics. The term economic stimulus is based on an analogy to the biological process of stimulus and response, with the intention ... | 1 |
ADVERSE SELECTION | Mispricing of RISK as a result of information asym- metries. This occurs when an INSURER cannot clearly distinguish betweendifferent classes of risks, and leads to a dearth or excess of risk coverage at a given price, i.e., charging a standard or low PREMIUM rate for a significant or UNINSURABLE RISK, or a high premium... | 0 |
Liquid Alternatives | Liquid alternative investments (or liquid alts) are mutual funds or exchange-traded funds (ETFs) that aim to provide investors with diversification and downside protection through exposure to alternative investment strategies. These products' selling point is that they are liquid, meaning that they can be bought and so... | 1 |
Uptrend | An uptrend describes the price movement of a financial asset when the overall direction is upward. In an uptrend, each successive peak and trough is higher than the ones found earlier in the trend. The uptrend is therefore composed of higher swing lows and higher swing highs. As long as the price is making these higher... | 1 |
put/call ratio | Ratio of put options to call options outstand-ing on a stock. | 0 |
Nasdaq | Nasdaq is a global electronic marketplace for buying and selling securities. Nasdaq was created by the National Association of Securities Dealers (NASD), which is now known as the Financial Industry Regulatory Authority (FINRA). The marketplace was created so that investors could trade securities on a computerized, spe... | 1 |
Annuitant | An annuitant is an individual who is entitled to collect the regular payments of a pension or an annuity investment. The annuitant may be the contract holder or another person, such as a surviving spouse. Annuities are generally seen as retirement income supplements. They may be tied to an employee pension plan or a li... | 1 |
Capital flight | When CAPITAL flows rapidly out of a country, usually because something happens which causes investors suddenly to lose confidence in its economy. (Strictly speaking, the problem is not so much the MONEY leaving, but rather that investors in general suddenly lower their valuation of all the assets of the country.) This ... | 1 |
Theta | The rate of change of the price of an option or other derivative with the passage of time. | 0 |
limit order | An order specifying a price at which an investor is willing to buy or sell a security. | 0 |
CHAPTER 13 | In the United States, the statute of the Bankruptcy Reform Act that relates to the RESTRUCTURING proceedings of individuals in FINANCIAL DISTRESS (as an alternative to CHAPTER 7). In most cases a personal DEBTOR is permitted to keep certain types of property and establish a DEBT repayment schedule covering 3 to 5 years... | 0 |
LIMITED MARKET | Any marketplace that is either ILLIQUID or where the number of active buyers is very small. | 0 |
Social Security Administration (SSA) | The Social Security Administration (SSA) is a U.S. government agency that administers social programs covering disability, retirement, and survivors' benefits. It was created in 1935 by President Franklin D. Roosevelt. Previously operating under the Department of Health and Human Services, the SSA has operated as a who... | 1 |
Repatriable | Repatriable refers to the ability to move liquid financial assets from a foreign country to an investor's country of origin. | 1 |
DELIVERABLE | See ASSET. | 0 |
MONEY AT SHORT NOTICE | Secured funds lent by BANKS, BROKERS, DEALERS, and other FINANCIAL INSTITUTIONS to one another which must typically be repaid within 1 to 2 weeks. See also MONEY AT CALL. | 0 |
CERTIFIED PUBLIC ACCOUNTANT (CPA) | In the United States, an account- ant that receives a state license through the passage of relevant examinations and the accumulation of industry experience and is qualified to AUDIT a company’s ACCOUNTS. See also CHARTERED ACCOUNTANT, CHARTERED CERTIFIED ACCOUNTANT. | 0 |
Negative externality | A negative side effect that results when the production or consumption of a good or service affects the welfare of people who are not the parties directly involved in a market exchange. | 1 |
Pretax Profit Margin | The pretax profit margin is a financial accounting tool used to measure the operating efficiency of a company. It is a ratio that tells us the percentage of sales that has turned into profits or, in other words, how many cents of profit the business has generated for each dollar of sale before deducting taxes. The pret... | 1 |
CHEQUE | In the United Kingdom, a CHECK. | 0 |
Knuckle-Buster | Knuckle-buster is a slang term for a manual credit card imprinter, a device merchants used to record credit card transactions before the advent of electronic point-of-sale terminals. | 1 |
Jim Walton | Born on June 7, 1948, in Newport, Ark., James (Jim) Carr Walton is the third and youngest son of Walmart (WMT) founder Sam Walton. The Waltons are the richest family in America, with an estimated net worth of $215 billion in 2020. | 1 |
Withholding Tax | A withholding tax is the amount an employer withholds from an employee’s wages and pays directly to the government. The amount withheld is a credit against the income taxes the employee must pay during the year. It also is a tax levied on income (interest and dividends) from securities owned by a nonresident alien, as ... | 1 |
CIRCLE | See INDICATION OF INTEREST. | 0 |
Binomial Tree | A tree that represents how an asset price can evolve under the binomial model. | 0 |
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