The currency abbreviation for the Uruguayan peso (UYU), the currency for Uruguay. The Uruguayan peso is made up of 100 centésimos and is often presented with the symbol $. Because of the instability of this currency, larger items such as real estate and cars are often priced in U.S. dollars. |||After introducing its first currency (the peso) in 1896, relative stability was enjoyed until after WWI, when inflation began to create economic difficulties in the country. Inflation became very serious in the mid '60s and into the '70s, and the peso was replaced by the nuevo peso (new peso) in 1973 at a rate of 1000:1. After many years of inflation continued, the nuevo peso was once again replaced with the Uruguayan peso we see today, again at a rate of 1000:1.Inflation and monetary instability is so rampant in Uruguay that locals are quite used to the devaluation of their currency. In fact, the short periods of appreciation that the currency sees are referred to as "atraso cambiario," which means "the exchange rate is running late".
Money that was due to a decedent and will pass through to the recipient or estate as income during that tax year. The recipient (beneficiary) must declare the money as income in respect of a decedent (IRD) for any year in which income is received. The estate must also claim the income, but may claim a deduction in the amount of income tax due on the IRD. |||While it's more common to deal with assets in an inheritance, the decedent may have had a last paycheck or unpaid commissions in transit at the time of his or her death. These items will never be reported on the decedent's income taxes and will instead be double-taxed by the recipient and the decedent's estate.
A corporate manager or an executive who, like the fabled Irish elf, is a mischievous and elusive creature said to possess buried treasures of money and gold. Also spelled "Lepre-con Leader". According to Irish folklore, the location of hidden treasure is revealed only when the leprechaun is caught. In the case of a leprechaun leader, the "buried treasure" is not usually buried, but protected in an offshore account!Examples of leprechaun leaders are the executives of Enron, who stowed away millions of dollars until they were finally caught.
A financial contract obligating the buyer to purchase an asset (or the seller to sell an asset), such as a physical commodity or a financial instrument, at a predetermined future date and price. Futures contracts detail the quality and quantity of the underlying asset; they are standardized to facilitate trading on a futures exchange. Some futures contracts may call for physical delivery of the asset, while others are settled in cash. The futures markets are characterized by the ability to use very high leverage relative to stock markets. Futures can be used either to hedge or to speculate on the price movement of the underlying asset. For example, a producer of corn could use futures to lock in a certain price and reduce risk (hedge). On the other hand, anybody could speculate on the price movement of corn by going long or short using futures. Watch: Future Contract The primary difference between options and futures is that options give the holder the right to buy or sell the underlying asset at expiration, while the holder of a futures contract is obligated to fulfill the terms of his/her contract. In real life, the actual delivery rate of the underlying goods specified in futures contracts is very low. This is a result of the fact that the hedging or speculating benefits of the contracts can be had largely without actually holding the contract until expiry and delivering the good(s). For example, if you were long in a futures contract, you could go short in the same type of contract to offset your position. This serves to exit your position, much like selling a stock in the equity markets would close a trade.
A ratio used mainly in the context of hedge funds. This risk-reward measure determines which hedge funds have the highest returns while enduring the least amount of volatility. The formula is as follows: This formula uses the average for risk (drawdown) and return over the past three years. Drawdown is calculated at the maximum potential loss in the given year. Just like the Calmar ratio, a higher Sterling ratio is generally better because it means that the investment(s) are receiving a higher return relative to risk.The Sterling ratio is similar to the Sharpe ratio and the Sortino ratio, as it also produces a risk-adjusted return measurement. The Sterling ratio, along with the Sortino ratio, is primarily used by hedge funds as a way of advertising superior risk management.
The abbreviation for the U.S. dollar and Japanese yen (USD/JPY) pair or cross for the currencies of the United States (USD) and Japan (JPY). The currency pair shows how many Japanese yen (the quote currency) are needed to purchase one U.S. dollar (the base currency).Trading the USD/JPY currency pair is also known as trading the "gopher". |||The value of the USD/JPY pair is quoted as 1 U.S. dollar per x Japanese yen. For example, if the pair is trading at 1.50 it means that it takes 1.5 yen to buy 1 U.S. dollar.The USD/JPY is affected by factors that influence the value of the U.S. dollar and the Japanese yen, both in relation to each other, and to other currencies. For this reason, the interest rate differential between the Federal Reserve (Fed) and the Bank of Japan (BoJ) will affect the value of these currencies when compared to each other. For example, when the Fed intervenes in open market activities to make the U.S. dollar stronger, the value of the USD/JPY cross could increase, due to a strengthening of the U.S. dollar when compared to the Japanese yen. The USD/JPY tends to have a positive correlation with the USD/CHF and USD/CAD currency pairs because they all use the U.S. dollar as the base currency.
A weekly economic figure published by the International Council of Shopping Centers and UBS Bank, that measures comparable store sales at major retail chains. The ICSC-UBS Store Sales measures the portion of retail sales attributed to general merchandise. |||Because consumer spending accounts for about two-thirds of GDP, patterns in consumer spending can have a major influence of investment pricing. The ICSC-UBS index is published weekly, so it is a useful indicator for viewing economic activity during major events and holidays.
Mainly pertaining to options and futures, this is the options or futures contract that has the most distant deliverly month or expiration. This is also known as the "back month".
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