share
A security representing a share in the capital of a public company. It assures the owner membership rights (voting and election rights at the general meeting) and property rights (right to share in the profits, share in capital increases or in the liquidation result).
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The best
Quarterly random sample employment statistics in 66 Swiss companies since 1925 (cf. employment and employment statistics).
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balance sheet
Periodic comparison of all assets and liabilities on a key date. The assets side provides information about the use of the funds, while the liabilities side provides information about the procurement of the funds (financing). part of the annual report.
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issuer
Company or public body that raises equity (shares) or borrowed capital (bonds) by issuing securities on the capital market (or on the money market). In contrast, issuers of derivatives (structured products and warrants) do not raise capital but hedge to take a market neutral position and charge a fee packaged in the product.
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Fed
US central banking system to which the twelve Federal Reserve Banks are attached. At the top is the Governing Board (Board) in Washington, which also provides the majority in the Open Market Committee, in which monetary policy is decided.
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monetary policy
Measures with which the central banks control the interest rates on the money market (key interest rates) and thus the money supply of a country or currency area. Most central banks, including the Swiss National Bank , aim to keep prices stable (cf. inflation , deflation ) and allow the economy to grow (cf. quantitative easing ).
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big banks
In Switzerland UBS and Credit Suisse. With a share of 50% of the balance sheet total and 75% of the market capitalization of all Swiss bank shares, they are the most important banking group. They are also among the largest banks internationally.
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Inflation
Price increase or currency depreciation. The change is given as the inflation rate. Often causes central banks to adopt a restrictive monetary policy (high key interest rates), which weighs on stocks and bonds. Opposite: disinflation, deflation.
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investment bank
Handles underwriting, trading in securities, foreign exchange, precious metals and derivative instruments, repurchase agreements and corporate finance including mergers and acquisitions.
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investment company
Public limited company whose main activity is to acquire shares in other companies. Investment companies can also invest in hedge funds and are therefore listed funds of hedge funds.
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MBS
Bonds backed by mortgages. Banks that issue real estate loans do not keep them on their own balance sheets, but pass them on to a large bank or to specialized financial institutions. MBS belong to the category of ABS.
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central bank
Economic institution that is responsible for supplying the economy with money. At the same time, it should create monetary stability and, depending on the statute, full employment and appropriate economic growth. In Switzerland, this is the SNB.
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Research
Systematic security assessment as a basis for the investment policy. It is divided into fundamental analysis and technical analysis.
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securitization
1. Conversion of receivables into tradable securities, for example securitization into ABS. 2. Form of certification. Title printing is very rare these days, one example being the bonds issued by the two Swiss Pfandbrief institutes (cf. Pfandbriefe ).
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security
A document to which a right is attached in such a way that it cannot be asserted or transferred to others without the document. Securities include stocks, bonds, participation and profit-sharing certificates, shares in investment funds, warrants and structured products.
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