return to investors plus compensation for the expected amount of inflation in each country. Fisher's separation theorem The notion that a firm's choice of investments is separate from its owner's attitudes toward investments. Also referred to as portfolio separation theorem. Fit The matching of the investor's requirements and needs such as risk tolerance and growth potential preference with a specific investment. Fitch sheet Used in the context of general equities. Chronological listing of trades in a security showing the price, size, exchange, and time (to the second) of the trades; obtained by hitting "#M" on Quotron. Five Cs of credit Five characteristics that are used to form a judgment about a customer's creditworthiness: character, capacity, capital,collateral, and conditions. Five hundred dollar rule A rule of the Federal Reserve that excludes deficiencies of $500 or less in margin requirements as a necessary reason for the firm to liquidate the client's account to cover a margin call. Five percent rule A rule of the National Association of Securities Dealers providing ethical guidelines for spreads created by market makers and commissions charged by brokers. Fixation The process of setting a price of a commodity, whether in the present or the future. See: Gold fixing. Fixed asset Long-lived property owned by a firm that is used by a firm in the production of its income. Tangible fixed assets include real estate, plant, and equipment. Intangible fixed assets include patents, trademarks, and customer recognition. Fixed asset turnover ratio The ratio of sales to fixed assets. Fixed annuities Contracts in which an insurance company or issuingfinancial institution pays a fixed dollar amount of money per period. Fixed benefits Payments to a beneficiary that are paid in fixed preset amounts and are not variable. Fixed-charge coverage ratio A measure of a firm's ability to meet its fixed-charge obligations: the ratio of (Earnings before interest, depreciation and amortization minus unfunded capital expenditures and distributions) divided by total debt service (annual principal and interest payments). Notice that lease payments are sometimes included in the calculations. Fixed cost A cost that is fixed in total for a given period of time and for given production levels. Fixed dates In the Euromarket, the standard periods for which Euros are traded (one month out to a year out) are referred to as the fixed dates. Fixed-dollar obligations Conventional bonds for which the coupon rate is set at a fixed percentage of the par value. Fixed-dollar security A nonnegotiabledebt security that can be redeemed at some fixed price or according to some schedule of fixed values, e.g., bank deposits and government savings bonds. Fixed exchange rate A country's decision to tie the value of its currency to another country's currency, gold (or another commodity), or a basket of currencies. Fixed for floating swap An interest rate swap in which the fixed rate payments are tradeed for a floating rate. Fixed income equivalent Also called a busted convertible.Convertible security that is trading like a straight security because the optionedcommon stock is trading well below the conversion price. Fixed income instruments Assets that pay a fixed dollar