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YIELD TO MATURITY: The annual rate of return on a financial asset that is held until maturity. Yield to maturity depends on both the coupon rate and the face or par value paid at maturity. If the selling price of a financial asset is equal to its par value, then the yield to maturity is equal to the current yield and the coupon rate. However, if the asset is selling at a discount, then the yield to maturity exceeds the current yield, which is greater than the coupon rate. And if the asset is selling at a premium, then the yield to maturity is less than the current yield, which is below than the coupon rate.
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ADVERSE SELECTION An inefficient, bad, or adverse outcome of a market exchange that results because buyers and/or sellers make decisions based on asymmetric information. This commonly results in a market that exchanges a lesser quality good, what is termed the market for lemons. Two related problems resulting from asymmetric information are moral hazard and the principal-agent problem. Two methods of lessoning the problem of adverse selection are signalling and screening.
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GREEN LOGIGUIN
[What's This?]
Today, you are likely to spend a great deal of time wandering around the downtown area looking to buy either a how-to book on home remodeling or a tall storage cabinet with five shelves and a secure lock. Be on the lookout for florescent light bulbs that hum folk songs from the sixties.
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This isn't me! What am I?
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A scripophilist is one who collects rare stock and bond certificates, usually from extinct companies.
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"As the births of living creatures at first are ill-shapen, so are all innovations, which are the births of time. " -- Sir Francis Bacon, philosopher
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SEAQ
Stock Exchange Automated Quotation System (UK)
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