英文名称:Bear Trap 中文名称:空头陷阱使投资者错判市场走势的假讯号,认为市场即将转入下跌势头,而抛售手中股票,但市场却不跌反涨的情形。e.g. Another massive jump in LME lead stocks is set to weigh on prices but this might be a bear trap by a player wishing to push the market down in order to buy it, says a broker. A false signal that the rising trend of a stock or index has reversed when it has not. This can occur during a bear market reversal when short sellers believe the markets will sink back to its declining ways. If the market continues to rise, the short sellers get trapped and are forced to cover their positions at higher prices.
英文名称:Buyback 中文名称:回购企业购回自己已发行的股票的行为。e.g. Wachovia \"strongly\" reiterated its outperform investment rating of the company's stock and said any cash proceeds would likely go toward a stock buyback. The repurchase of outstanding shares (repurchase) by a company in order to reduce the number of shares on the market. Companies will buy back shares either to increase the value of shares still available (reducing supply), or to eliminate any threats by shareholders who may be looking for a controlling stake. A buyback allows companies to invest in themselves. By reducing the number of shares outstanding on the market, buybacks increase the proportion of shares a company owns. Buybacks can be carried out in two ways: 1. Shareholders may be presented with a tender offer whereby they have the option to submit (or tender) a portion or all of their shares within a certain time frame and at a premium to the current market price. This premium compensates investors for tendering their shares rather than holding on to them. 2. Companies buy back shares on the open market over an extended period of time.
英文名称:Capital Gain 中文名称:资本收益指资本资产在出售或准备出售时市价高于最初购买价格而产生的收益。资本资产出售后产生的资本收益称作已实现资本收益;未出售时可能产生的资本收益称作未实现资本收益。 1. An increase in the value of a capital asset (investment or real estate) that gives it a higher worth than the purchase price. The gain is not realized until the asset is sold. A capital gain may be short term (one year or less) or long term (more than one year) and must be claimed on income taxes. A capital loss is incurred when there is a decrease in the capital asset value compared to an asset's purchase price. 2. Profit that results when the price of a security held by a mutual fund rises above its purchase price and the security is sold (realized gain). If the security continues to be held, the gain is unrealized. A capital loss would occur when the opposite takes place. 1. Long-term capital gains are usually taxed at a lower rate than regular income. This is done to encourage entrepreneurship and investment in the economy. 2. Tax conscious mutual fund investors should determine a mutual fund's unrealized accumulated capital gains, which are expressed as a percentage of its net assets, before investing in a fund with a significant unrealized capital gain component. This circumstance is referred to as a fund's capital gains exposure. When distributed by a fund, capital gains are a taxable obligation for the fund's investors.
英文名称:Capital Reduction 中文名称:资本缩减公司缩减股东权益的做法,可通过撤销或回购已发行股票进行。 The process of decreasing a company's shareholder equity through share cancellations and share repurchases. The reduction of capital is done by companies for numerous reasons including increasing shareholder value and producing a more efficient capital structure. After a capital reduction, the number of shares in the company will decrease by the reduction amount. In some capital reductions, shareholders will receive a cash payment for shares cancelled - but, in other situations, there is minimal impact on shareholders.
英文名称:Capital Asset 中文名称:资本资产在会计业务中,指资产负债表中的资本项目;在金融市场中,指长期持有能够产生资本收益各类资产,比如用于出租的房屋、股票或债券等。 A type of asset that is not easily sold in the regular course of a business's operations for cash and is generally owned for its role in contributing to the business's ability to generate profit. Furthermore, it is expected that the benefits gained from the asset will extend beyond a time span of one year. On a business's balance sheet, capital assets are represented by the property, plant and equipment figure. Examples include land, buildings, machinery, etc. Generally, these are assets that cannot quickly be turned into cash and are often only liquidated in a worst-case scenario. For example, a company might look at selling a capital asset if it was looking at restructuring or the business was engaged in bankruptcy proceedings. Depending on the business involved, capital assets may represent the majority of assets that are owned. For example, in equipment heavy operations such as oil exploration, it is not surprising to find the majority of a business's assets to be capital assets.
英文名称:Close Position 中文名称:平仓通过一笔数量相等、方向相反的交易来冲销原来的头寸。e.g. But best to close position now The act of taking the opposite position of the current position thereby getting out of a position in a particular stock or security. Also referred to as "Closing Transaction." If a broker recommends that you close your long position on a stock they mean "sell it immediately." For example if you have a short position in a stock for you to close the position you will need to take a long position, or in other words you have to buy back the stock.
英文名称:Clearing House 中文名称:清算行为证券或衍生工具交易提供结算服务的公司。 An agency or separate corporation of a futures exchange responsible for settling trading accounts, clearing trades, collecting and maintaining margin monies, regulating delivery and reporting trading data. Clearing houses act as third parties to all futures and options contracts - as a buyer to every clearing member seller and a seller to every clearing member buyer. Each futures exchange has its own clearing house. All members of an exchange are required to clear their trades through the clearing house at the end of each trading session and to deposit with the clearing house a sum of money (based on clearinghouse margin requirements) sufficient to cover the member's debit balance. For example, if a member broker reports to the clearing house at the end of the day total purchase of 100,000 bushels of May wheat and total sales of 50,000 bushels of May wheat, he would be net long 50,000 bushels of May wheat. Assuming that this is the broker's only position in futures and that the clearing house margin is six cents per bushel, this would mean the broker would be required to have $3,000 on deposit with the clearing house. Because all members are required to clear their trades through the clearing house and must maintain sufficient funds to cover their debit balances, the clearing house is responsible to all members for the fulfillment of the contracts.
英文名称:Call Warrant 中文名称:认购权证一种由上市公司或证券公司发行的,可在股票交易所交易的,类似于看涨期权的有价证券。它赋予持有者在特定的时间(或特定时间内)以特定价格买入标的证券(一般为股票)的权利而非义务。 A warrant that gives the holder the right to buy the underlying share for an agreed price, on or before a specified date. A warrant is similar to an option, the main difference is that warrants are issued by a company attempting to raise capital.