A collective shift by investors toward a less bullish stance after a substantial run-up in prices of financial assets. Since it involves a lesser degree of buying by investors, or even active selling by them, asset prices generally decline as investors pull in their horns in favor of a more bearish stance. The phrase is reportedly derived from the fact that because an upward market is called a bull market, investors "pulling in their horns" denotes a more cautious approach than rampant bullishness. This change can either be a temporary phase, as investors re-enter the market after a price decline, or it may be the precursor to a protracted decline. In extreme cases when asset prices have increased especially sharply and valuations are extended, the period when investors pull in their horns may be the first sign of a impending bear market.
An annual measure of the economic output of a nation that is adjusted to account for depreciation, calculated by subtracting depreciation from the gross domestic product (GDP). |||Net domestic product accounts for capital that has been consumed over the year in the form of housing, vehicle, or machinery deterioration. The depreciation accounted for is often referred to as capital consumption allowance and represents the amount needed in order to replace those depreciated assets.
A type of transaction in the futures market in which the cash or spot price of a commodity is below the futures contract price. Cash and carry transactions are considered arbitrage transactions. The carrying costs in a cash and carry transaction are not deductible if the underlying commodity or security is part of a balanced position. These costs are instead capitalized and added to the basis.
An alternative stock exchange for micro-cap and emerging companies in Canada. Canada's New Stock Exchange (CNQ) offers companies simplified reporting requirements and reduced barriers to entry, compared to the Toronto Stock Exchange and the TSX Venture Exchange. The CNQ does this through its model, which attempts to remove the duplication of regulation between the exchange and the provincial securities commissions. Taobiz explains Canada's New Stock Exchange - CNQ The purpose of the CNQ is to strengthen investor confidence in emerging companies through enhanced disclosure and high regulatory oversight standards. The result is a stock exchange that maximizes liquidity and fosters entrepreneurial spirit, while also offering better protection to investors.
A value created by professor Benjamin Graham in the mid-twentieth century to determine if a company was trading at a fair market price. NCAVPS is calculated by taking a company's current assets and subtracting the total liabilities, and then dividing the result by the total number of shares outstanding. |||According to Graham, investors will benefit greatly if they invest in companies where the stock prices are no more than 67% of their NCAV per share. A study done by the State University of New York to prove the effectiveness of this strategy showed that from the period of 1970 to 1983 an investor could have earned an average return of 29.4%, by purchasing stocks that fulfilled Graham's requirement and holding them for one year.However, Graham did make it clear that not all stocks chosen in this manner will have excessive returns, and that investors should also diversify their holdings when using this strategy.
An employee of a brokerage firm who brings a large amount of wealthy individuals or corporations to the brokerage firm's client base. Rainmakers are usually compensated very well for their efforts (or connections).
A non-refundable tax credit for unreimbursed childcare expenses paid by working taxpayers. The Child and Dependent Care Credit is designed to encourage taxpayers to pay childcare expenses so that they can remain gainfully employed. The Child and Dependent Care Credit is claimed on Form 2441 for taxpayers that are filing Form 1040, or Schedule 2 for Form 1040A. The taxpayer, the care provider, the dependent/dependents must all meet certain requirements in order for the taxpayer to qualify for the credit. The Child and Dependent Care Credit is limited to a range of 20% to 35% of $3,000 for one qualifying child or dependent under age 13 or $6,000 for two or more qualifying persons, depending on the taxpayer's Adjusted Gross Income. For more information, see IRS instructions for Form 2441.
A system for selecting stocks created by Investor's Business Daily founder William J. O'Neil. Each letter in the acronym stands for a key factor to look for in a company. Also referred to as "C-A-N-S-L-I-M" or "CANSLIM". Taobiz explains CAN SLIM The seven-part criteria is as follows: C - Current quarterly earnings per share has increased sharply from the same quarters' earnings reported in the prior year. (Beware of items in financial statements that can cause earnings distortions.) A - Annual earnings increases over the last five years. N - New products, management, and other new events. In addition, the company's stock has reached new highs. S - Small supply and large demand for a stock creates excess demand, and an environment in which stock prices can soar. Companies acquiring their own stock reduces market supply and can indicate their expectation of future profitability. Look for low debt-equity ratios. L - Choose leaders over laggard stocks within the same industry. Use the relative strength index as a guide. I - Pick stocks who have institutional sponsorship by a few institutions with recent above average performance. Be cautious of stocks that are over owned by institutions. M - Determining market direction by reviewing market averages daily.
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