A type of mutual fund that charges its holders 12B-1 fees instead of up-front or back-end commissions. 12B-1 funds take a portion of assets held and use them to pay expense fees and distribution costs. These costs are included in the fund's expense ratio and are described in the prospectus. The name 12B-1 comes from the Investment Company Act of 1940's Rule 12B-1, which allows fund companies to act as distributors of their own shares. Rule 12B-1 further states that a mutual fund's own assets can be used to pay distribution charges. Originally, the rule was intended to pay advertising and marketing expenses; today, however, a very small percentage of the fee actually goes toward these costs.
The risk that occurs as a result of conducting transactions between different time zones. More specifically, this refers to how the receiving party may not necessarily know whether the other party fulfilled its obligations until the next trading day. This risk is most evident when the time zone difference is the largest. For example, transactions that occur between a party from Tokyo and another party in New York could be a cause for overnight delivery risk. Since both locations are located in different timezones, the party in Tokyo would need to wait over night to receive confirmation that the transaction from the party in New York was completed. However, if the transaction did not go through, the partner in Tokyo would not find out until the next day, at which time it may be too late to conduct the transaction again.
A type of business model that includes both online and offline operations, which typically include a website and a physical store. A click-and-mortar company can offer customers the benefits of fast, online transactions or traditional, face to face service. This model is also referred to as "clicks and bricks". Best Buy follows the click-and-mortar business model. Customers have the choice between visiting one of Best Buy's physical locations or using the website to complete transactions. Both the store and website allow customers to compare and search for goods and purchase products.
A committee established in 1970 to standardize, automate and streamline stock certificate and options processing. The Banking and Securities Industry Committee (BASIC) sought to uphold uniform rules and regulations regarding the trading and settlement of securities. |||The National Association of Securities Dealers, the New York Clearing House banks and major stock exchanges collaborated to form BASIC to resolve the paperwork crisis in the securities industry resulting from the bull market of the late 1960s. Essentially, BASIC attempted to reduce the physical exchange of stock certificates when transferring ownership. Its efforts culminated in the creation of the Depository Trust Company.
A trading strategy that assumes the support and resistance points of double tops and double bottoms exert an influence on future price action after they have been broken. The memory-of-price strategy says that after support or resistance has been broken and the majority of stops have been cleared, the price will be attracted back to these support and resistance levels. This strategy is based on the theory that it will take a very large amount of buying or selling to exceed the prior range of the double top or double bottom, respectively. |||This strategy appeals to traders who are frequently taken out by their stops, only to see the price reverse and ultimately move in their predicted direction. This strategy often banks small profits, but it is important to note that when the strategy misses, losses can be quite large. For this reason, it is imperative that the trader sticks to his or her stops when using this setup.
The fraudulent act of purchasing a life insurance policy without disclosing a pre-existing terminal illness or disease. This type of fraud is often done with both the knowledge of the purchaser and the agent involved. In cases of clean sheeting, the policy is often sold shortly after it is purchased in a viatical settlement, but the money received is a lot less than what a legitimate settlement would yield. This is because there is a higher chance that the fraudulent policy will be rescinded. This type of fraud provides huge gains for the person who buys out the purchaser because he or she is able to buy the policy at a large discount, somewhere around 10% of the policy's face value.
The estimated value of a property as determined by a real estate broker or other qualified individual or firm. A broker price opinion is based on the characteristics of the property being considered. |||Some of the factors that a broker will consider when pricing a property include: the value of similar surrounding properties, sales trends in the neighborhood, an estimate of any of the costs associated with getting the property ready for sale and/or the cost of any needed repairs. It is important to note that a BPO is not the same as an appraisal.
A type of stock trader who holds a position for the long term (from months to years). Long-term traders are not concerned with short-term fluctuations because they believe that their long-term investment horizons will smooth these out. Many position traders will take a look at weekly or monthly charts to get a sense of where the asset is in a given trend. Position trading is the polar opposite of day trading because the goal is to profit from the move in the primary trend rather than the short-term fluctuations that occur day to day.
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