Lawrence Ellison
DefinitionLawrence Joseph Ellison is an American businessman, entrepreneur, and philanthropist who is co-founder, executive chairman and chief technology officer of Oracle Corporation. As of June 2018, he was listed by Forbes magazine as the fifth-wealthiest person in the United States and as the eighth-wealthiest in the world, with a fortune of $54.5 billion. Lawrence Ellison What is 'Lawrence...
Latin Baseball Futures
What is 'Latin Baseball Futures' A financial contract used to speculate on the potential of teenage baseball players from Latin America who are training to earn spots in Major League Baseball (MLB). Investors in Latin baseball futures finance academies that train the young athletes and receive a return on their investment when a player is signed to...
Lady Macbeth Strategy
What is 'Lady Macbeth Strategy' A corporate-takeover strategy with which a third party poses as a white knight to gain trust, but then turns around and joins with unfriendly bidders. Explaining 'Lady Macbeth Strategy' Lady Macbeth, one of Shakespeare's most frightful and ambitious characters, devises a cunning plan for her husband, the Scottish general,...
Learning Curve
What is the 'Learning Curve' A learning curve is a concept that graphically depicts the relationship between cost and output over a defined period of time, normally to represent the repetitive task of an employee or worker. The learning curve was first described by psychologist Hermann Ebbinghaus in 1885 and is used as a way to measure...
Late-Day Trading
What is 'Late-Day Trading' An unethical (if not illegal) practice of a hedge fund purchasing and then selling securities (usually shares of a mutual fund) after the close of a trading day, but making the transactions appear as though they occurred before the market close. Explaining 'Late-Day Trading' For mutual funds, net asset value is...
League Table
DefinitionStandings or rankings are listings which compare sports teams or individuals, institutions, nations, companies, or other entities by ranking them in order of ability or achievement. A table or chart may be employed to display such listings. A league table may list several related statistics, but they are generally sorted by the primary one that determines the rankings. Many...
Land Trust
DefinitionThere are two distinct definitions of a land trust... Land Trust What is 'Land Trust' A legal agreement where a trustee is appointed to maintain ownership of a piece of real property for the benefit of another party: namely, the beneficiary of the trust. Land trusts are used by several different types of organizations for several reasons;...
Land Contract
What is a land contract and how does it works? A land contract is a contract between the buyer and seller of a piece of property in which the buyer agrees to make payments to the seller over a period of time, with the goal of eventually owning the property outright. The terms of the contract can vary widely, but...
Landlocked
DefinitionA landlocked state or landlocked country is a sovereign state entirely enclosed by land, or whose only coastlines lie on closed seas. There are currently 49 such countries, including five partially recognised states. Only two, Bolivia and Paraguay in South America, lie outside Afro-Eurasia. Landlocked What is 'Landlocked' In a business sense, a piece of property that...
Lapping Scheme
What is a 'Lapping Scheme' A lapping scheme is an accounting method that involves altering the accounts receivable section of the balance sheet when cash that is intended for the payment of a receivable is stolen. The method involves taking the first receivable collected and using that to cover the theft, while the second receivable collected is...