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Liquidity Risk |
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Risk from a lack of liquidity,
ie an investor having difficulty getting their money out
of an investment. |
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Listed Security |
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Stock or bond that has been accepted
for trading by an organised and registered securities
exchange. Advantages of being listed are an orderly market
place, more liquidity, fair price determination, accurate
and continuous reporting on sales |
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and quotations, information on
listed ompanies and strict regulations for the protection
of securities holders. |
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Lock Up |
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Time period during which an initial
investment can not be redeem ed. |
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Long Position |
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Holding a positive amount of an
asset (or an asset underlying a derivative instrument) |
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Long / Short Hedged |
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Also described as the Jones Model.
Manager buys securities he believes will go up in price
and sells short securities he believes will decline in
price. Manager will be either net long or net short and
may change the net position frequently. For example a
manager may be 60% long and 100% short, giving him a market
exposure of 40% net short. The basic belief behind this
strategy is that it will enhance the manager’s stock
picking ability and protect investors in all market conditions. |
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