Dictionary
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Zero-Sum Game

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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Yield

Income from an investment as a percentage of its current price.
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American Depository Receipts (ADRs)

Tradeable assets that let Americans invest in overseas stocks using US laws and dollars.
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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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Professional Client

An investor that is able to meet several regulatory criteria.
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Stock Market

A place where shares of publicly listed companies are traded.
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Annualised Rate of Return

The average annual return an investor sees over a set period of time.
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Volatility

A measure of how much the prices of an asset or index vary over time.
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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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Zero coupon bonds

What is a zero coupon bond?
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