RESIDUAL INTEREST BONDS - RIBS
A type of inverse floating-rate bond created by dividing the income from a municipal bond into two portions. The municipal bondholder will create two new securities: a primary direct floating-rate bond and a residual inverse floating-rate bond. The floaters will be linked to a reference interest rate, such as LIBOR, and the municipal bond's income will be used to pay the coupon on the direct floater, with any remaining income going toward the residual interest bond.
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Taxable Event
Occurrence or transaction which creates a tax consequence for the individual holding the event or deal. Some examples of taxable events include rec ...
Non-Marginable Securities
It is a type of security that can’t be purchased on margin at a particular brokerage or financial company. This should be funded 100 percent ...
Hybrid Indicator
A type of technical indicator that combines the core elements of chart analysis with existing indicators. Hybrid indicators are one of the two prim ...
Manager Universe Benchmark
A peer group of investment managers with the same investment style; often used for comparing and evaluating the performances of money managers that ...
Inside Director
Member of a company’s board of directors who is either an employee, officer, or major shareholder. Along with outside directors for that matt ...
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