Zero-Sum Game

A situation in which one person's gain is another's loss.

A situation in which one person's gain is another's loss.

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W-8BEN Form

Non-US individuals and businesses may have to file this form for the Internal Revenue Service (IRS), the US tax authority.
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Junk Bond

A form of debt investment that carries higher risk because of the likelihood that the issuer will default.
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Total Return

This is the measurement of a fund’s performance in a specific period.
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Stock Market

A place where shares of publicly listed companies are traded.
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Inflation

The increase in the prices of goods and services over time, and the process by which money loses its value.
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Maturity date

The date on which a gilt is redeemed and the gilt holder receives the repayment of the nominal amount and final dividend or coupon payment.
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Yield curve

A graphical representation of interest rates over time
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Year to Date (YTD)

A period of time that starts with the first day of the current calendar year and ends with today.
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Securities

Bonds and stocks.
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