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Fama and french three factor model
| Глоссарий экономических терминов |
Created by eugene fama and kenneth french to describe the expected return of a portfolio. their model includes the market exposure (known as beta in the capital asset pricing model) plus two other risk factors: smb (small minus big) and hml (high minus low.) smb accounts for the tendency for stocks of firms with small market capitalizations generate higher returns, while hml accounts for the tendency that value stocks (of firms with high book to market ratios) generating higher returns.
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Generating, английский
A rapid roughing process to quickly remove material from a lens. accomplished by cutting tools on a machine. generator, free-form – a type of computercontrolled generator with at least three axes of movement that can cut most continuous lens surface shapes to a level of precision and smoothness that requires only minimal polishing with a free-form polisher. generator, traditional – a type of generator with either two or three axes of movement that can cut only basic spherical and sphero-cylindrical lens surface shapes to a minimal level of smoothness that requires additional fining with a cylinder machine.
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Depository trust company (dtc), английский
Dtc is the world`s largest central securities depository. it accepts deposits of over 2 million equity and debt securities issues (valued at $23 trillion) from over 65 countries for custody, executes book-entry deliveries (valued at over $116 trillion in 2000) records book-entry pledges of those securities, and processes related income distributions dtc is a member of the u.s. federal reserve system, a limited-purpose trust company under new york state banking law, a registered clearing agency with the securities and exchange commission, and is owned by the depository trust and clearing corporation (dtcc), which is in turn owned primarily by most of the major banks, broker-dealers, and exchanges on wall street.
Portfolio restructuring, английский
Applies to derivative products. recomposition of a portfolio`s asset mix by selling off undesired asset types (equities, debt, or cash) or specific securities within that class, while simultaneously buying desired types or securities. often a firm is asked to bid on an old portfolio and give an offering of the desired portfolio. see: program trading.
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