What is 'Gadfly' Gadfly is a term for an investor who attends the annual shareholders meeting to criticize the corporation's executives. Named after small insects that bite and annoy livestock, the gadfly looks to irritate a corporation's...
What is 'Z-Bond' The final tranche in a series of mortgage-backed securities that is the last one to receive payment. Used in some collateralized mortgage obligations (CMO), Z-bonds pay no coupon payments while principal is being paid...
What is 'Naked Position' A securities position that is not hedged from market risk. Both the potential gain and the potential risk are greater when a position is naked instead of covered (a covered position is hedged...
What is 'Wachovia Hybrid and Preferred Securities (WHPPSM) Indicies' Market capitalization weighted indicies designed by Wachovia to measure the performance of the U.S. preferred shares in addition to five other specialized indecies. The Wachovia Hybrid and Preferred...
What is 'Macro Accounting' Accounting for the total or aggregate economic activities of a nation. Macro accounting forms the basis for the official statistics that summarize a nation's economic development and performance, and looks at the whole...
What is 'J. Harold Chandler' The current COO of Univers Workplace Benefits and a former president, CEO and chairman of disability insurance provider Unum Provident. In 1993, Chandler became president and CEO of Provident Life and Accident...
What is 'OEX' The ticker symbol used to identify index options traded on the Standard & Poor's 100 index. OEX options are listed with a letter code indicating the month code for puts and calls, and a...
What is the 'W-2 Form'
The W-2 form is the form that an employer must send to an employee and the Internal Revenue Service (IRS) at the end of the year. The W-2 form reports an employee's annual wages and...
What is 'K-Ratio' A ratio that is used in the performance evaluation of an equity relative to its risk. The ratio examines the consistency of an equity's return over time. The data for the ratio is derived...
What is a T-account
A T-account is a visual representation of the ledger of a business or individual. It is so named because it looks like the letter T when drawn on a page. The left side of the T-account...