The percentage of a mutual fund's total assets that are currently held in cash or cash equivalents. While mutual fund cash level can refer to the cash level of an individual fund, it most often refers to the aggregate level of cash held across a wide demographic of mutual funds, which is used as a barometer of institutional buying power and market sentiment. Watch: Mutual Funds Most mutual funds need to keep around 5% cash available at all times in order to handle the day-to-day redemptions of shares. Cash levels outside of this range can signal a collective sense of fear or optimism about the broad markets. For instance, if aggregate mutual fund cash levels are above 10%, this would signal that fund managers are generally bearish about the market and holding back on making new purchases. On the other hand, cash levels in the range of 5-8% would signal a generally bullish stance, as most available cash is being put to work in the market. Some investors view mutual fund cash levels as a contrarian indicator, as cash levels generally reach their peak at market bottoms.
吉姆·罗杰斯提出三条法则主要是指:一、独立思考法则 “我总是发现自己埋头苦读很有用处。如果我只按照自己所理解的行事,既容易又有利可图,而不是要别人告诉我该怎么做。”罗杰斯的投资理念就是寻找一些不被关注的股票:“当年我来中国的时候,所有的人都劝说我千万不要买B股,所以我当时就毫不犹豫地买了,事实证明并没有错。”这意味着,每个人应该有自己的投资方式和理念,不管是投资股票还是货币或其他,当然独立思考的前提是要建立在对市场客观、深入研究的基础上。大部分人会随大流,而事实上很少有人能靠随大流发财。二、绝不赔钱法则 “除非你真的了解自己在干什么,否则什么也别做。”“所以,我的忠告就是绝不赔钱,做自己熟悉的事,等到发现大好机会才投钱下去。”据此,我们可以得出这样的结论:要充分了解自己的财富管理人,比如所选择的基金公司是否值得托付,基金经理是否经历过熊市及牛市全面的洗礼,基金产品长期的历史业绩是否优良,这些都是做好投资的重要前提。三、静若处子法则 “投资的法则之一是袖手不管,除非真有重大事情发生。大部分的投资人总喜欢进进出出,找些事情做。他们可能会说‘看看我有多高明,又赚了3倍。’然后他们又去做别的事情,就是没有办法坐下来等待大势的自然发展。”罗杰斯对“试试手气”的说法很不以为然,这实际上是导致投资者投资失败的重要因素。 www.jr18.com独家提供
A second, unsolicited bidder in a corporate takeover. A gray knight enters the scene in order to take advantage of any problems between the first bidder and the target company. Think of a gray knight as a circling vulture waiting to pick clean the leftovers. In some parts of the world gray is spelled "grey."
The currency abbreviation for the Slovenian tolar (SIT), the currency for Slovenia from October 1991 until December of 2006. The Slovenian tolar was made up of 100 stotinov. The correct pronunciation of the currency depended on the amount of currency to which the speaker was referring. 2 SIT were called 2 "tolarja"; 3 or 4 SIT were called 3 or 4 "tolarji"; "tolarjev" referred to 5 SIT or more. |||The tolar was introduced as the currency of Slovenia in 1991, replacing the Yugoslav dinar at par. When Slovenia joined the European Monetary Union in January of 2007, the tolar was replaced by the euro at a rate of 239.64:1.
An acronym referring to the geographical area that includes these three regions. These regions represent the most developed areas outside of North America. |||Owning an index fund comprised of companies from the EAFE area is one way to invest in those international markets. Indexes, such as the MSCI EAFE, are used as a benchmark for North American equity performance.
什么是票据追索权 票据追索权是指持票人在提示承兑或提示付款,而未获承兑或未获付款时,依法向其前手请求偿还票据金额及其他金额的权利。 票据到期被拒绝付款的,持票人可以对背书人、出票人以及票据的其他债务人行使追索权;在票据到期日前,如有汇票被拒绝承兑或被拒绝付款的,承兑人或者付款人死亡、逃匿的,承兑人或者付款人被依法宣告破产或因违法被责令终止业务活动的,持票人也可以行使追索权。 目录 1行使追索权的手续 2行使追索权的条件 行使追索权的手续 票据的重要功能之一是代替货币进行流通。那么,当前手将票据权利移转给其后手以后,对该张票据继续流通的情况,一般就不大关心,或者也无法去关心它的流向。在一般情况下,票据到期时,遭到拒绝付款的情况是少数的,因而追索权的行使是票据流通中的一种特别情况。为此,何时会出现持票人行使追索权,往往前手难以预见。为了平衡持票人与前手之间的利益关系,而在持票人行使追索权时,使前手能够及早做好资金上的准备,票据法要求持票人在行使追索权时,有义务将被拒绝承兑或者被拒绝付款的情况,提前通知前手。 (1)票据法规定,持票人应当在被拒绝承兑或被拒绝付款之日起三日内发出通知。收到该通知的被追索人还应当在三日内将这一情况通知其直接前手,依此类推。 (2)持票人如果没有按照规定的期限发出通知,并不因此丧失其追索权,而是由于未能及时通知前手,会造成前手来不及准备好相应的资金,承担额外的费用,对此应当给予相应的赔偿。但是,这种赔偿责任是有限度的,即赔偿的最高金额不得超过该张票据记载的金额。 (3)持票人发出通知,可以采用多种形式,一般情况下应按照被追索人的法定地址以书面邮件的形式发出。在通讯技术高度发达的今天,也可以采用电传、传真的方式。如果持票人按照前手的法定地址或居所发出通知的,就视为持票人依法履行了通知的义务。被追索人是否收到该通知,持票人也不再承担责任。 行使追索权的条件 在已发生汇票到期时被拒绝付款,或者到期日前被拒绝承兑等情况时,并不能确定地发生追索权。追索权的行使,必须具备相应的条件。包括: 1.根据我国票据法规定,持票人行使追索权时,应当提供被拒绝承兑或被拒绝付款的有关证明。而持票人提示承兑或者提示付款被拒绝的,承兑人或者付款人必须出具拒绝证明,或者退票理由书。承兑人或者付款人出具的拒绝证明,是对拒绝承兑或者拒绝付款一事最直接、最便利的证明方式。为使持票人能够确实获得拒绝证明,票据法特别将出具拒绝证明规定为承兑人或付款人的一项义务,违反该义务时,应承担由此而产生的民事责任。 2.因承兑人或者付款人死亡、逃匿或者其他原因,持票人不能取得拒绝证明的,其他有关的证明也可以作为拒绝证明。根据票据管理实施办法的规定,这种证明主要包括:(1)医院或者有关单位出具的承兑人、付款人死亡的证明;(2)司法机关出具的承兑人、付款人逃匿的证明;(3)公证机关出具的具有拒绝证明效力的文书。 3.承兑人或者付款人被人民法院依法宣告破产的,人民法院的有关司法文书具有拒绝证明的效力。 4.承兑人或者付款人因违法被责令终止业务活动的,有关行政主管部门的处罚决定具有拒绝证明的效力。 5.持票人应当自收到被拒绝承兑或被拒绝付款的有关证明之日起3日内,将被拒绝事由书面通知其前手;其前手应当自收到通知之日起3日内书面通知其再前手;持票人也可以同时向各票据债务人发出书面通知。这是追索权行使的附带条件。持票人未按规定期限进行通知的,仍可行使追索权,但是因延期通知给其前手或者出票人造成损失的,应负赔偿责任。只是赔偿金额以票据金额为限。而如果持票人将通知按照法定地址或约定地址邮寄的,无论追索义务人是否收到或是否按时收到,均视为已经发出通知,发出时间以邮寄时间为准。
The other party that participates in a financial transaction. Every transaction must have a counterparty in order for the transaction to go through. More specifically, every buyer of an asset must be paired up with a seller that is willing to sell and vice versa. All trades require some sort of counterparty. For example, the counterparty to the option buyer would be the option writer. One of the risks involved in any transaction is counterparty risk, which is the risk that the counterparty will be unable to fulfill his or her duties. However, in many financial transactions the counterparty is unknown.
A type of investment account that allows access by several specialized investment managers within one main account. The account is split into several sub-accounts that are separately run by managers with relevant expertise. The multi-discipline account provides investors with an efficient way to get professional investment management and asset diversification. It is also referred to as a "multi-style" and "multi-strategy account". These type of investment accounts were created as an alternative to separately managed accounts that have only one type of management expertise and make it more difficult to diversify. Generally the minimum amount needed to invest in a separately managed account is around $100,000 while the minimum for a multi-discipline account is $150,000. So, with the separately managed account, if an investor wanted to split assets into 60% equity and 40% fixed income, he or she would need to open two separately managed accounts and would need at minimum $200,000. With the multi-discipline account, however, the investor needs only to open the one account, requiring only a total of $150,000, and separate the assets into two sub-accounts.