A company that is created to help grow small companies in the initial stages of their development. BDCs are very similar to venture capital funds. Many BDCs are set up much like closed-end investment funds and are actually public companies that are listed on the NYSE, AMEX and Nasdaq. |||To qualify as a BDC, companies must be registered in compliance with Section 54 of the Investment Company Act of 1940. A major difference between a BDC and a venture capital fund is that BDCs allow smaller, non-accredited investors to invest in startup companies. Some of the reasons why BDCs have become popular is that they provide permanent capital to their management, allow investments by the general public and use mezzanine financing opportunities.
A method used by brokers to obtain new business by making unsolicited calls to potential clients. There are mixed opinions on the ethicality of cold-calling, many counties have put forward legislation restricting this practice.
A mutual fund that attempts to achieve the highest capital gains. Investments held in these funds are companies that demonstrate high growth potential, usually accompanied by a lot of share price volatility. These funds are only for non risk-averse investors willing to accept a high risk-return trade-off. Also commonly referred to as a "capital appreciation fund" or "maximum capital gains fund". Aggressive growth funds have large betas, which means they have a large positive correlation with the stock market. They tend to perform very well in economic upswings and very poorly in economic downturns. An aggressive growth fund may also invest in a company's IPO and then quickly turn around and re-sell the same stock to realize large profits. Some aggressive growth funds also invest in options to boost returns.
The currency abbreviation for the Mongolian tugrug (or tögrög) (MNT), the currency for Mongolia. The Mongolian tugrug is made up of 100 möngö and is often presented with a symbol that looks like the letter "T" with two horizontal slashes through the stem, or Tg preceding the number (i.e. Tg100). Möngö are not used anymore because inflation has rendered them worthless. |||First introduced in December of 1925, the tugrug replaced the Mongolian dollar at a rate at par with the Soviet ruble. There are heavy restrictions on the import and export of currency in Mongolia. The import of local currency is limited to Tg815, and the import of foreign currency is limited to US$2,000 or the equivalent of another currency. only the amount of currency declared upon arrival is permitted to be exported upon departure from the country.
A government agency that produces economic data that reflects the state of the U.S. economy. This data includes the Consumer Price Index, the unemployment rate and the Producer Price Index. |||This arm of the U.S. Department of Labor researches and publishes a range of data, from inflation and consumer spending to employment, productivity and wages, as well as other economic measures. These reports can have a significant effect on market sentiment.
The phenomenon by which the seller of a particular good, service or security desires to maximize the selling price, while the buyer desires to minimize the purchasing price. Generally speaking, the greater the price tension within a particular market, the greater the bid-ask spread. Price tension tends to decrease liquidity and create price stickiness. If price tension is relatively large within a particular market or exchange, there will be larger bid-ask spreads. Sellers will be asking for more than what the vast majority of buyers are willing to pay, which will drastically reduce the number of exchanges made within the market.Having little liquidity in a given market exposes the investor to liquidity risk, which can result in drastic changes in the security's underlying value.
A market that is believed to have the potential to make a strong move in one direction after being pushed in the opposite direction. The idea is that if a market should be headed in one direction based on its fundamentals but is pushed in the other direction, it will eventually make a strong move in the original fundamental direction. This coiled move will often be more substantial than what might have been the case if it had gone in the expected direction to begin with. Coiled markets often arise when the market has been held down artificially. This happens in commodities markets, such as gold and silver. Investors looking to capitalize on coiled markets will use both fundamental and technical analysis to identify markets or specific equities that exhibit the characteristics of a coiled market. The origins of this term relate to the physics of a coiled spring: the more it is compressed, the greater the rebound will be.
The actual expense paid by mutual fund investors. The after reimbursement expense ratio is calculated by subtracting any reimbursements made to the fund by the management and contractual fee waivers from the gross expense ratio.Also known as the "net expense ratio". Management will often reimburse the fund for indirect expenses, such as any dividends paid for short positions in stock.Sometimes the expense ratio will be voluntarily limited by the managers through a fee waiver to keep the fund's pricing competitive. Fee waivers allow the fund to set a maximum level on the amount charged to shareholders. When a fund adopts an expense limit, it is referred to as a capped fund.
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