Kelly Criterion

The Kelly Criterion (or Kelly formula, Kelly strategy, Kelly bet) is a mathematical rule that tells you the optimal fraction of your bankroll to…

Income Tax

• Income tax is a tax governments levy on money that individuals and businesses earn. In the U.S. the Internal Revenue Service (IRS) administers…

Indexation

Indexation (also called indexing or escalating) is the practice of automatically adjusting a price, payment, tax base, or asset value by linking it to…

Kangaroo Bond

A kangaroo bond (also called a Matilda bond) is a foreign bond issued in Australia by a non‑Australian entity and denominated in Australian dollars…

Impaired Credit

Impaired credit refers to a deterioration in the perceived ability or willingness of an individual, business, or government to meet its financial obligations. For…

Kaizen

Kaizen (Japanese for “change for the better” or “continuous improvement”) is a business philosophy and practical system that encourages everyone in an organization to…

Least Developed Countries Ldc

• Least-developed countries (LDCs) are a UN-defined group of low-income countries that face severe structural constraints to sustainable development: low human assets, weak economic…

Junior Mortgage

• A junior mortgage is any mortgage lien that is subordinate to a prior (senior) mortgage—commonly a second mortgage, but can be third or…

Holdings

Holdings are the individual assets that make up an investment portfolio — the specific stocks, bonds, mutual funds, ETFs, cash positions, options, futures, and…

Level 2 Asset

Level 2 assets sit in the middle of the fair‑value hierarchy used under U.S. GAAP (FASB guidance). They are financial assets or liabilities whose…