A slang phrase used in venture capital to refer to the period of time from when a startup firm receives an initial capital contribution to when it begins generating revenues. During the death valley curve, additional financing is usually scarce, leaving the firm vulnerable to cash flow requirements. The name "death valley" refers to the high probability that a startup firm will die off before a steady stream of revenues is established. After a firm receives its first round of financing, it incurs a lot of initial costs. Offices are usually built, staff is hired and operating costs are incurred; meanwhile, the firm is not earning significant income. Unless a firm can effectively manage itself through the death valley curve, it will fall victim to negative cash flows.
The minimum price movement of a trading instrument. The price movements of different trading instruments varies. For example, if the minimum price movement of a stock is 0.01; the stock has a tick value of one cent (each tick is worth one cent for one stock). Futures markets typically have a tick size that is specific to the instrument. For example, the Russell 2000 e-mini futures contract (TF) has a tick size of .10; the value of each tick is $10.00 (each contract is worth $100 multiplied by the index). The tick size of a trading instrument is its minimum price movement; in other words, it is the minimum increment in which prices can change. The tick value is what each price movement is worth in terms of dollars. A stock, for instance, has a tick size of 0.01, with a tick value of one cent. The e-mini S&P 500 contract has a tick size of .25 with a tick value of $12.50; each time price moves .25 (from 1110.50 to 1110.75 for example) the value changes $12.50, either up or down depending on the direction of the price movement.
The currency abbreviation for the Namibian dollar (NAD), the currency for Namibia. The Namibian dollar is made up of 100 cents and is often presented with the symbol $ or N$ to set it apart from other dollar-denominated currencies. |||The Namibian dollar replaced the South African rand in 1993, three years after Namibia gained its independence from South Africa. Because the dollar is pegged to the rand at par, the rand is still legal tender in Namibia, and both currencies circulate alongside each other in the nation.
A professional designation for individuals who wish to specialize in life insurance and estate planning. Individuals must complete five core courses and three elective courses, and successfully pass all eight two-hour, 100-question examinations in order to receive the designation. |||Financial planners with a CFP designation will often earn the CLU designation title to demonstrate their expertise in the areas of life insurance and estate planning to existing and potential clients. Having additional knowledge in these areas gives financial planners a competitive edge over other planners with fewer credentials.
A type of loan investors give to a company in exchange for convertible debt, which, like convertible bonds, typically has provisions that allow investors to convert the bonds into stock at below-market prices. This can cause the original shareholders to lose control of the company. This type of loan is undertaken by companies that desperately need cash. It is called a death spiral because companies' stocks often plunge drastically after they take on these types of loans. It is important to note that death spirals often allow buyers to convert the bonds into shares at a fixed conversion ratio in which the buyer has a large premium.For example, a bond with a face value of $1,000 may have a convertible value of $1,500, which means that a bondholder will receive $1,500 dollars worth of equity for giving up the $1,000 bond. However, upon a conversion, more shares are created, which dilutes the share price. This drop in price may cause more bond holders to convert, because the lower share price means that they will be receiving more shares. Any further conversions will cause more price drops as the supply of shares increases, causing the process to repeat itself as the stock's price spirals downward.
An investment-management company that sells a limited number of shares to investors on an exchange by way of an initial public offering. For investors to sell the shares they purchased from the closed-end management company, there must be buyers willing to buy the shares at a price determined by the market. The most common type of closed-end management company is a closed-end mutual fund. Closed-end management companies are not required to repurchase the shares that they have sold to investors. Investors in these types of funds sell their own shares at the market price of the security, even if that price is significantly below the net asset value of the portfolio that their shares represent. It is common for the price of closed-end funds to be above or below the actual NAV.
A pattern found in technical analysis of options trading. Tweezer patterns occur when two or more candlesticks touch the same bottom for a tweezer bottom pattern or top for a tweezer top pattern. This type of pattern can be made with candlestick charts of various types. Tweezer bottoms are considered to be short-term bullish reversal patterns. Tops are bearish, and either end means that buyers or sellers were not able to push the top or bottom any further. Both types of patterns require close observation and research in order to be interpreted and used correctly.
In currencies, this is the abbreviation for the Nigerian Naira. |||The currency market, also known as the Foreign Exchange market, is the largest financial market in the world, with a daily average volume of over US $1 trillion.
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