A type of option that can only be exercised on predetermined dates, usually every month. Like the mixed culture of Bermuda, bermuda options are a combination of American and European style options.
老三板简介 所谓的“老三板”指的是包括从原来两个法人股市场退下来的“两网股”股票和从主板市场终止上市后退下来的“退市股”股票。 其中： “两网股”是指1992年7月1日在STAQ系统（全国证券交易自动报价系统）法人股流通转让试点运行和1993年4月28日投入试运行的NET系统（中国证券交易系统有限公司开发设计），并在1999年9月9日关闭STAQ和NET系统后遗留下来的股票。 “退市股”则是因为连续多年亏损等原因（前后政策有微调）被强制性从主板市场终止上市后退到代办系统转让的股票。
A ratio of portfolio returns above the returns of a benchmark (usually an index) to the volatility of those returns. The information ratio (IR) measures a portfolio manager's ability to generate excess returns relative to a benchmark, but also attempts to identify the consistency of the investor. This ratio will identify if a manager has beaten the benchmark by a lot in a few months or a little every month. The higher the IR the more consistent a manager is and consistency is an ideal trait.Rp = Return of the portfolioRi = Return of the index or benchmarkSp-i = Tracking error (standard deviation of the difference between returns of the portfolio and the returns of the index) A high IR can be achieved by having a high return in the portfolio, a low return of the index and a low tracking error. For example: Manager A might have returns of 13% and a tracking error of 8% Manager B has returns of 8% and tracking error of 4.5%The index has returns of -1.5%Manager A's IR = [13-(-1.5)]/8 = 1.81Manager B's IR = [8-(-1.5)]/4.5 = 2.11Manager B had lower returns but a better IR. A high ratio means a manager can achieve higher returns more efficiently than one with a low ratio by taking on additional risk. Additional risk could be achieved through leveraging.
1. An option strategy seeking maximum profit when the price of the underlying security declines. The strategy involves the simultaneous purchase and sale of options; puts or calls can be used. A higher strike price is purchased and a lower strike price is sold. The options should have the same expiration date. 2. A trading strategy used by futures traders who intend to profit from the decline in commodity prices while limiting potentially damaging losses. 1. You make money if the underlying goes down and lose if the underlying rises in price. 2. A bear spread is created through the simultaneous purchase and sale of two of the same or closely related futures contracts. This is accomplished in the agricultural commodity markets by selling a future and offsetting it by purchasing a similar contract with an extended delivery date.
A unit of currency used in the Republic of Ireland until 2002. The punt was introduced in 1928 and was pegged (one for one) to the British pound sterling. In 1979, the peg was removed and the punt, now called the Irish pound, floated against the British pound. The punt was replace by the Euro in 2002. |||One punt (represented by the symbol £) equaled 240 pence until 1969, when it was adjusted to equal 100 pence (one British pound). The euro was introduced on January 1, 2002, at which point Ireland adopted a dual currency with a fixed exchange rate. The Irish punt ceased to be legal tender on February 9, 2002.
什么是美国存托股票 美国存托股票是指外国公司授权美国的受托人(Trustee)在美国发行的、以美元计价的所有权证书。受托人发行ADS，也需以外国公司的股票为抵押。 目录 1 美国存托股票与美国存托凭证区别 2 相关条目 3 参考文献 美国存托股票与美国存托凭证区别 美国存托股票与美国存托凭证不同的是，美国存托股票的面值大多只有作抵押股票面值的几分之一，而美国存托凭证大多以若干单位(比如10股)抵押股票充当一单位的ADRs。 美国存托股票(ADS)是由希望吸引美国投资者而不必在美国市场上挂牌的股票发行公司赞助发起的。美国存托凭证(ADR)表示美国公民可以购买的外国股票的权益。ADR,是由银行和经纪公司发起的。 相关条目 美国存托凭证 参考文献 ↑ 刘红忠编著.新编国际投资.ISBN:7-5429-0245-8/F831.6.立信会计出版社,1995 ↑ 范剑虹编著.国际投资法导读.ISBN:7-308-02574-8/D996.4.浙江大学出版社,2000 ↑ (美)弗兰克·J.法伯兹(FrankJ.Fabozzi)等著；康卫华主译.金融市场与机构通论.ISBN:7-81044-620-7/F830.9.东北财经大学出版社,2000
1. The adjustment of the weights of assets in an investment portfolio so that its performance matches that of an index.2. linking movements of rates to the performance of an index. 1. Indexing is a passive investment strategy. An investor can achieve the same risk and return of an index by investing in an index fund. 2. Examples of rates that could be linked to the performance of an index are wages or tax rates.
A type of options strategy used when an option trader expects a decline in the price of the underlying asset. Bear Put Spread is achieved by purchasing put options at a specific strike price while also selling the same number of puts at a lower strike price. The maximum profit to be gained using this strategy is equal to the difference between the two strike prices, minus the net cost of the options. For example, let's assume that a stock is trading at $30. An option trader can use a bear put spread by purchasing one put option contract with a strike price of $35 for a cost of $475 ($4.75 * 100 shares/contract) and selling one put option contract with a strike price of $30 for $175 ($1.75 * 100 shares/contract). In this case, the investor will need to pay a total of $300 to set up this strategy ($475 - $175). If the price of the underlying asset closes below $30 upon expiration, then the investor will realize a total profit of $200 (($35 - $30 * 100 shares/contract) - ($475 - $175)).
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