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FINANCIAL ASSET: A legal claim to or ownership of a physical asset. Common financial assets are stocks, bonds, money, and government securities. These are also termed paper assets.
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MARKET FAILURES Imperfections in the exchange process between buyers and sellers that prevent markets from efficiently allocating scarce resources. Market failures come in four varieties -- public goods, market control, externalities, and imperfect information. Market efficiency is achieved if the value of goods produced is equal to the value of foregone production. Markets fail when this efficiency condition is not achieved. Such failures can only be corrected by government intervention.
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WHITE GULLIBON
[What's This?]
Today, you are likely to spend a great deal of time at a crowded estate auction wanting to buy either a packet of address labels large enough for addresses of both the sender and the recipient or a key chain with a built-in flashlight and panic button. Be on the lookout for deranged pelicans.
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General Electric is the only stock from the original 1896 Dow Jones Industrial Average remaining in the current index.
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"Always make a total effort, even when the odds are against you." -- Arnold Palmer
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APT
Arbitrage Pricing Theory
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