Name given to the five industrialized nations that meet periodically to achieve a cooperative effort on international economic and monetary issues. |||The G-5 consists of five of the world's leading industrialized countries: France, Germany, Japan, the United Kingdom, and the United States.
The difference between the cost of a raw commodity and the income it generates once sold as a finished product. |||The gross processing margin will be adjusted for each different commodity. For example, the GPM for oil is called the crack spread; for soybeans, it's called the crush spread.
An act created by the U.S Congress in 1996 that amends both the Employee Retirement Income Security Act (ERISA) and the Public Health Service Act (PHSA) in an effort to protect individuals covered by health insurance and to set standards for the storage and privacy of personal medical data. |||The HIPAA ensures that individual health care plans are accessible, portable, and renewable, and it sets the standards and the methods for how medical data is shared across the U.S. health system in order to prevent fraud. It pre-empts state law unless the state's regulations are more stringent. This act has been modified since 1996 to include processes for safely storing and sharing patient medical information electronically. The act also has an administrative simplification provision, which is aimed at increasing efficiency and reducing administrative costs by establishing national standards.Health insurers, health maintenance organizations (HMOs), healthcare billing services and other entities that handle sensitive personal medical information must comply with the standards set by the HIPAA. Noncompliance may result in civil or criminal penalties.
An indicator used in technical analysis to identify changing trends. The technique consists of combining two groups of moving averages with differing time periods. One set of moving averages in the Guppy multiple moving average (GMMA) has a relatively brief time frame and is used to determine the activity of short-term traders. The number of days used in the set of short-term averages is usually 3, 5, 8, 10, 12 or 15.The other group of averages is created with extended time periods and is used to gauge the activity of long-term investors. The long-term averages usually use periods of 30, 35, 40, 45, 50 or 60 days. |||The relationship between the two sets of moving averages is used by traders to determine if the outlook of short-term traders aligns with investors who have a longer-term outlook. Changing trends are identified when the two groups of moving averages intersect. A bullish trend is present when the short-term moving averages are above the long-term averages. Conversely, a bearish trend occurs when the short-term averages are below the long-term averages. This term gets its name from Daryl Guppy, an Australian trader who is credited with its development.
A rider on a variable annuity that allows minimum withdrawals from the invested amount without having to annuitize the investment. The amount that can be withdrawn is based on a percentage of the total amount invested in the annuity. |||In most cases, if you were to access the funds in the annuity you would have to either annuitize it, which creates regular distributions, or face fee penalties. The GLWB allows access to the invested capital, regardless of the performance of the investment, and continues to maintain and invest in the annuity. The percent of the allowable withdrawal will depend on the contract, but can be increased in most cases if the date at which the annuity payments begin is delayed.
A classification used by the financial services industry to denote an individual or a family with high net worth. Although there is no precise definition of how rich somebody must be to fit into this category, high net worth is generally quoted in terms of liquid assets over a certain figure. The exact amount differs by financial institution and region. The categorization is relevant because high net worth individuals generally qualify for separately managed investment accounts instead of regular mutual funds. |||The most commonly quoted figure for membership in the high net worth "club" is $1 million in liquid financial assets. An investor with less than $1 million but more than $100,000 is considered to be "affluent", or perhaps even "sub-HNWI". The upper end of HNWI is around $5 million, at which point the client is then referred to as "very HNWI". More than $50 million in wealth classifies a person as "ultra HNWI". HNWIs are in high demand by private wealth managers. The more money a person has, the more work it takes to maintain and preserve those assets. These individuals generally demand (and can justify) personalized services in investment management, estate planning, tax planning, and so on.
One of three factors in the Fama and French asset pricing model. HML accounts for the spread in returns between value and growth stocks. HML argues that companies with high book-to-market ratios (value stocks) outperform those with low ones (growth stocks). Also referred to as the "value premium". |||Fama and French's Three Factor model is often used to evaluate a portfolio manager's returns. A typical measure of good management is large excess returns. The model's three factors, including HML, attempt to explain excess returns in a manager's portfolio. Specifically, HML shows whether a manager was relying on the value premium (investing in stocks with high book-to-market ratios) to earn an abnormal return. If the manager was buying only value stocks, the model regression would show a positive relation to the HML factor, which explains that the portfolios returns are accredited only to the value premium. Because the model can explain more of the portfolio's return, the original excess return of the manager decreases.
The Heritage and Stabilization Fund is a sovereign wealth fund that was established in March 2007 by the government of the Republic of Trinidad and Tobago. It was previously known as the Interim Revenue Stabilization Fund, which was set up in 2000. The primary objectives of the fund are to save and invest surplus petroleum production revenues in order to support and sustain public expenditures during periods of revenue downturn, and to provide a heritage for future generations of the nation. |||The Heritage and Stabilization Fund is denominated in U.S. dollars and its fiscal year ends in September. The fund provides a cushion to the economy in times when the price of oil or natural gas have fallen. As of September 30, 2009, the fund had net assets of $2.96 billion.
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