A buy order that is accompanied by a sell limit order above the buy order's price and a sell stop order below the buy order's price. These three component orders will all be set at a price determined by the investor at the time the order is entered. This type of order allows investors to lock in profits with an upside movement and prevent a downside loss, without having to constantly follow the position. Taobiz explains Bracketed Buy Order For example, suppose that an investor places a buy order for 100 shares of ABC at $50, along with a sell limit order at $55 and a sell stop order at $45. If the price moves up to $55 or down to $45, the position will be sold. The trader will either meet a specified gain of $5 with the sell limit or suffer a loss of $5 with the stop-loss order. However, it is important to note that having a stop-loss order at $45 doesn't mean that you are guaranteed that price. This is because once triggered, the stop loss turns into a market order and will be sold at the current market price after triggering. If the stock gaps down to $40, for example, your stop loss would be triggered and your shares would be sold for around $40.
Dating any document by a date earlier than the one on which the document was originally drawn up. Under most circumstances, backdating is seen as fraudulent and illegal, although there are some situations in which backdating can be used in a legal and beneficial way, such as backdating a claim for a past period. Sometimes certain claims (such as insurance claims) can be backdated if the could not be completed at an earlier date, although there must be good reason for neglecting to claim in advance. If your backdated claim is approved, you will be able to receive benefits from a certain date in the past.
An informal or slang term referring to a notice of dismissal given to an employee. A pink slip is an official notification that a worker's position has been eliminated or that the worker's services are no longer needed. In other words, a pink slip is a termination notice. A pink slip notifies an employee that he or she has been laid off or fired. The term can also be used as a verb, as in "I was pink-slipped today and no longer have a job." Pink slips can be handed out individually or en masse, as with large lay-offs and company closures.
A financial theory stating that the market value of a firm is determined by its earning power and the risk of its underlying assets, and is independent of the way it chooses to finance its investments or distribute dividends. Remember, a firm can choose between three methods of financing: issuing shares, borrowing or spending profits (as opposed to dispersing them to shareholders in dividends). The theorem gets much more complicated, but the basic idea is that, under certain assumptions, it makes no difference whether a firm finances itself with debt or equity. |||In "Financial Innovations and Market Volatility" Merton Miller explains the concept using the following analogy:"Think of the firm as a gigantic tub of whole milk. The farmer can sell the whole milk as is. Or he can separate out the cream and sell it at a considerably higher price than the whole milk would bring. (That's the analog of a firm selling low-yield and hence high-priced debt securities.) But, of course, what the farmer would have left would be skim milk with low butterfat content and that would sell for much less than whole milk. That corresponds to the levered equity. The M and M proposition says that if there were no costs of separation (and, of course, no government dairy-support programs), the cream plus the skim milk would bring the same price as the whole milk."
An electronic system used by the New York Stock Exchange to send orders between brokers and trading booths on the floor of the exchange. The BBSS is an extremely efficient way to direct order flow. Prior to its advent, brokers used paper forms and sent runners to give orders to the floor traders to execute. Taobiz explains Broker Booth Support System - BBSS The BBSS permits the New York Stock Exchange to handle daily trade volumes in excess of one billion shares. If this electronic system of routing orders were unavailable, brokers and traders would have to rely on paper forms to document and execute trades. In addition to being a physically demanding process, the paper format is much more difficult to audit and track than its electronic counterpart.
Taxes that have been unpaid in the year that they were due. Taxpayers can have unpaid back taxes at the federal, state and/or local levels. Back taxes accumulate interest and penalties on a regular basis. Unpaid back taxes can be a serious issue for many taxpayers who don't have the means to pay them. The Internal Revenue Service (IRS) has recently turned over the collection of unpaid back taxes to a private collection agency. Taxpayers who lack the means to repay taxes may often negotiate a lesser settlement via an offer in compromise with the IRS either directly or through a tax attorney.
A party that brings together professionals and recruiters who have recently been laid off. Pink slip parties are usually held during tough economic times, when unemployment is rising and businesses are closing. Often, these casual gatherings will raise money for charity, and provide job search advice to the attendees. Pink slip parties are a way for job seekers to network with each other as well as with recruiters. As such, each person is often labeled with a name tag or color-coded bracelet. Pink slip parties increase in frequency during economic slowdowns such as after the internet bubble or the credit crisis. They can provide a sense of solidarity for the newly unemployed, but they sometimes also provide practical advice on finding a new job or building a resume to help the recently unemployed as they try to get back into the workforce.
An anti-dilution provision used for the benefit of existing preferred shareholders when additional offerings are made by the corporation. The broad-based weighted average accounts for all equity previously issued and currently undergoing issue. Taobiz explains Broad-based Weighted Average The new weighted average price is adjusted for the preferred shareholder providing for protection against dilution. However, because all equity issued by the company is included in the weighting process, it is not as favorable as other weighting methods.
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