BOWIE BOND
Asset-backed security using an intellectual property right as collateral. The copyright owner sells bonds that are serviced and redeemed from the generated revenue by selling the works. This was named after English musician David Bowie when he used the current and future revenue from 25 albums he recorded as collateral. Recorded before 1990s, its proceeds were used to acquire his old recordings. Upon creating the bonds, he lost royalties for the bond’s life.
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Completed Contract Method - CCM
Accounting method allowing a taxpayer or business to defer reporting of income and expenses until the contract has been completed. Frequently, this ...
Choice Market
Market in which the spread between the bid and ask prices for a particular financial instrument is zero. Meaning the instrument can be purchased fo ...
Rational Pricing
A theory that states the prices that reflect a security’s fundamental value and the absence of arbitrage opportunities.
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