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Value manager
A manager who seeks to buy stocks that are at a discount
to their "fair value" and sell them at or in excess of that value. Also called contrarians because they see value where many other market participants do not.
Variable life
A whole life insurance
policy that provides a death benefit dependent on the insured's portfolio
market value at the time of death. Typically the company invests premiums in common stocks, and hence variable life
policies are referred to as equity-linked policies.
Variance
A measure of dispersion of a set of data points around their mean value.
Variance minimization approach to tracking
An approach to bond indexing
that uses historical data to estimate the variance
of the tracking error
.
Variation margin
An additional required deposit to bring an investor's equity
account up to the initial margin
level when the balance falls below the maintenance margin requirement
.
Venture capital
An investment in a start-up business that is perceived to have excellent growth prospects but does not have access to capital markets.
Vertical analysis
The process of dividing each expense item in the income statement
of a given year by net sales to identify expense items that rise faster or slower than a change in sales.
Volatility
A measure of risk based on standard deviation
in fund performance over 3 years. Scale is 1-9; higher rating indicates higher risk. | Std Deviation |
Rating |
|
Std Deviation |
Rating |
| up to 7. 99 |
1 |
|
20. 00-22. 99 |
6 |
| 8. 00-10. 99 |
2 |
|
23. 00-25. 99 |
7 |
| 11. 00-13. 99 |
3 |
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26. 00-28. 99 |
8 |
| 14. 00-16. 99 |
4 |
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29. 00 and up |
9 |
| 17. 00-19. 99 |
5 |
|
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Volume
This is the daily number of shares
of a security
that change hands between a buyer and a seller.
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