break the buck v. phr.— «He thinks it’s unlikely the companies running money market funds would allow them to “break the buck,” as it’s known in Wall Street parlance even if the funds lost money on SIV-related investments. The...
friend raising n.— «In addition to developments in major gift solicitation, I am also observing fundamental changes in the fund-raising process itself. In particular, an increasing tendency toward what is sometimes called “friend raising”...
cat bond n.— «His name was John Seo, he was 39 years old and he ran a hedge fund in Westport, Conn., whose chief purpose was to persuade investors to think about catastrophe in the same peculiar way that he did. He had invested nearly a...
tape bomb n.— «Wall Street traders like to call unexpected news events “tape bombs.” The terminology presumably dates back to the days when the physical flow of ticker tape delivered the latest ups and downs of stock price...
toxic waste n.— «Basis Capital had assets worth $1 billion as recently as May, before reporting that its Aust-Rim Fund and Yield Fund lost 9 percent and 14 percent, respectively, in June. The funds ran into trouble by investing in the...
lights-on bill n.— «If they can’t overturn Pawlenty’s decision, two key lawmakers said the Legislature simply will return what is known as a “lights-on bill,” which would fund the Transportation Department at its most basic levels. “The...