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Personal debt in the United States is skyrocketing. In the last quarter of 2018, data from the Federal Reserve revealed that collective personal debt exceeded $4 trillion in America for the first time ever, and had reached over $4.5 trillion by June 2022. One of the recommended ways to pay off debt is to make a financial plan and stick …
Read More »Russell Small Cap Completeness Index
What is the Russell Small Cap Completeness Index? The Russell Small Cap Completeness Index is a market capitalization weighted index composed of Russell 3000 stocks that are not included in the Standard & Poor’s 500 index. By constructing it this way, investors have a large basket of small- and mid-cap assets that are uncorrelated to widely held stocks like Apple …
Read More »Lady Macbeth Strategy Definition
What is a Lady Macbeth strategy? A Lady Macbeth strategy is a corporate takeover scheme in which a third party poses as a White knight to gain trust, only to then turn around and join the hostile side in a Hostile takeover offer. Behind the scenes, the hostile bidder and the supposed white knight of the target company will collude …
Read More »Breakage Definition
What is breakage? Breakage is a term used to describe revenue earned by retailers from unused gift cards or other prepaid services that are never claimed. In these cases, the business pockets the money paid for these items, without actually providing the service or item the customer originally paid for. Although almost all of this money is considered profit for …
Read More »Thin File
What is a lightweight file? A “thin file” refers to the credit report of a person with little or no credit history. Consumers who are just starting out and who may never have taken out a loan or had a credit card are said to have light files. Key points to remember A person with little or no credit history …
Read More »Jack Ma’s Worth and Influence
What does Jack Ma, Founder and Executive Chairman of Alibaba Group Holding Ltd. (BABA), worth it? As of August 5, 2022, Jack Ma’s net worth was $35.4 billion as the 34th richest person in the world, according to a Bloomberg article. Much of Ma’s wealth is tied to Alibaba. He had the biggest majority stake in the company and its …
Read More »New York City Recovery Index: January 11
Editor’s Note: Below is the Week 23 release of the NYC Recovery Index, originally published January 11, 2021. Visit the NYC Recovery Index Homepage for the latest data. The new year brought renewed optimism as New York’s economic recovery continued to improve during the week of January 2. A decrease in unemployment claims, an increase in restaurant reservations and gains …
Read More »Mutual Fund vs. ETF: What’s the Difference?
Mutual Fund vs. ETF: An Overview Mutual funds and exchange-traded funds (ETFs) have a lot in common. Both types of funds consist of a mix of many different assets and represent a popular way for investors to diversify. While mutual funds and ETFs are similar in many respects, they also have some key differences. A major difference between the two …
Read More »Schedule II Bank Definition
What is a Schedule II bank? A Schedule II bank is a subsidiary of a foreign bank that is authorized to do business in Canada. Typically, the names of these banks reflect their foreign subsidiary nature, such as Citibank Canada and Amex Bank of Canada. A Schedule I bank is a national institution such as the Royal Bank of Canada …
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