Dictionary
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Ponzi Scheme

Ponzi Scheme

A form of fraud designed to lure new investors, and pays the earlier backers by using the new investors' money.

A form of fraud designed to lure new investors, and pays the earlier backers by using the new investors' money.

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Profit and Loss Statement (P&L)

A statement that summarises firm's expenses, costs, and revenues incurred during a time period. AKA income statement.
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Hedge Fund

Investment funds that are often associated with riskier and shorter-term trading strategies.
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Clean price

The quoted price of a gilt, which excludes accrued interest
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Account balance

The amount of money a user has stored in a financial repository.
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Running yield

The annual interest payment (dividend) divided by the current market price of a bond.
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NASDAQ

A US stock exchange specialising in the shares of technology companies.
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Synthetic ETFs

An ETF that that reproduces the return of an index through the use of swaps.
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Accrued interest

The interest earned on a gilt since the last dividend date. When buying a gilt, the buyer pays the accrued interest at the time of a transaction to the seller in addition to the clean price of the gilt
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Gilt

What is a gilt?
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