The official currency of Mongolia. The tugrik was unveiled on December 19, 1925 as the country's first official currency. Upon introduction it was equivalent to one Soviet ruble. Three years late, in 1928, it replaced other existing foreign currencies in use to become the country’s sole legal currency. Also known as the tögrög and abbreviated as MNT. |||The tugrik is only issued in notes, which are printed in Great Britain. It was initially subdivided into 100 möngö coins, however those coins are no longer minted. Today the highest denomination tögrög note is 20,000 and the lowest value denomination is 10. Mongolbank, the Central Bank of Mongolia, issues the tugrik.
A corporate-takeover strategy with which a third party poses as a white knight to gain trust, but then turns around and joins with unfriendly bidders. Lady Macbeth, one of Shakespeare's most frightful and ambitious characters, devises a cunning plan for her husband, the Scottish general, to kill Duncan, the King of Scotland. The success of Lady Macbeth's scheme lies in her deceptive ability to appear noble and virtuous, and thereby secure Duncan's trust in the Macbeths' false loyalty.
An investor considered by many to be one of the greatest investors and mutual fund managers of all time. Sir John Templeton (1912-2008) founded the Templeton Growth Fund in 1954, which was one of the first U.S. mutual funds to embrace global investing. He is best known for his focus on the fundamental analysis of stocks and contrarian investing style, as well as his amazing sense of philanthropy. The life of Sir John Templeton was one of stark contrasts that is a must read for any serious scholar of investing. Similar to Warren Buffet, Templeton lived a life of relative frugality despite his accumulation of a vast fortune. Though born in the U.S., he renounced his U.S. citizenship in the late 1960s to avoid paying income taxes on his growing fortune. This controversial decision set the stage for him later being knighted as a naturalized British citizen.
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.
A theoretical set of accounting principles under which corporations would have to fully disclose all information, including that which often doesn't get reported to investors under generally accepted accounting principles (GAAP). These principles include disclosure of the following:-all off-balance sheet items-how new goodwill accounting rules (introduced in 2002) impact earnings per share (EPS) -the impact on EPS of stock options issued in lieu of salaries -how pension expenses are accounted for This buzzword was coined by financial analyst Rick Wayman after the Enron bankruptcy. According to legend, Lady Godiva was a woman who rode a horse naked through Coventry, England, in the 11th century in order to get her husband, the Lord of Coventry, to lift the heavy taxes on his people. The idea of LGAP is that just as the Lady provided "full disclosure" to help her fellow citizens, corporations must do the same thing with their financial disclosures to maintain their credibility with investors.
More specific holdings of a general category of assets. A sub-asset class is a collection of assets that have common characteristics within both the asset class and the sub-asset class. The sub-asset class also has attributes that make it different than the parent group of assets. Diversification across asset classes in a portfolio balances its exposure to risks and reduces the volatility of the overall investment. Sub-asset classes can further identify and diversify the risks associated with the superclass. For example, stocks is an asset class, and large-capitalization stocks is a sub-asset class.
A cost effective strategy designed to limit the costs associated with exercising a call option. When a European call option is purchased, the present value of the strike price is invested in a risk-free interest bearing account. When the investment matures, the value of the account will be enough to cover the costs of exercising the European option if the holder chooses to do so. A fiduciary call is a smart way to cover the cost of exercising a stock if the investor has the spare cash available. If the option holder decides to let the option expire, then they will have a return on an investment that may be higher then the risk-free rate of return. The strategy can also be implemented for an American option if the time to exercise the option can be reasonably estimated.
The currency abbreviation for the Trinidad and Tobago dollar (TTD), the currency for Trinidad and Tobago. The Trinidad and Tobago dollar is made up of 100 cents and is often presented with the symbol TT$ to differentiate it from other currencies that are also denominated in dollars. |||When first introduced in 1898, the dollar was used alongside the Great Britain pound at an exchange rate of TT$1 = 4 shillings and 2 pence. From 1935 to 1950, the Trinidad and Tobago dollar had the same value as the British West Indies dollar, and in 1951 the TTD was replaced with notes of the British Caribbean Territories, Eastern Group. The East Caribbean dollar was replaced at par in 1964 with the Trinidad and Tobago dollar in use today. Unlike in many other Caribbean countries, the Trinidad and Tobago dollar is not pegged, and is allowed to float freely against other currencies.
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