高盛財經(jīng)漢英詞典

1、中文詞句englishenglish definitions144a 條例rule 144aan sec rule that modified a two-year holding period requirement on privately placed securities by permitting qualified institutional buyers (qibs) to trade these positions among themselves. 18定律rule of 18a rule whereby the sum of the inflation rate and t

2、he p/e ratio of the dow jones industrial average is an indicator of the direction of the stock market. if the total is above 18, stocks are supposed to decrease. if the total is under 18, then the stock ma1940年投資公司法investment company act of 1940created in 1940 through an act of congress, this piece

3、of legislation clearly defines the responsibilities and limitations placed upon fund companies that offer investment products to the public.72定律rule of 72a rule stating that in order to find the number of years required to double your money at a given interest rate, you divide the compound return in

4、to 72. the result is the approximate number of years that it will take for your investment to double.apics（美國生產(chǎn)及庫存控制協(xié)議）商業(yè)前景指數(shù) apics business outlook index a national manufacturing index that surveys several manufacturing firms on a monthly basis. if the index is above 50 it signals expansion, if it

5、dips below 50 it indicates contraction.camels評級制度 camels rating system an international bank-rating system with which bank supervisory authorities rate institutions according to six factors. the six areas examined are represented by the acronym "camels." cedel cedel one of two principal cl

6、earing houses for euromarket securities. notice that the formula may also be written as: accounts payable / (cost of sales/number of days). notice that the formula may also be written as: accounts receivable / (credit sales/number of days). net operating income total debt service net income sharehol

7、der's equitythe roe is useful in comparing the profitability of a company to other firms in the same industry. calculated as total tax paid divided by taxable income. 2. in the case of fixed income, a bond with a rating of bbb or higher. operating cash flow is calculated through a series of adju

8、stments to net income. it can be found on the statement of cash flows. ? 2. the difference between the swap rate and the lending rate offered through other investment vehicles with comparable characteristics. gdp平減數(shù) gdp deflator an economic metric used to account for inflation by converting output m

9、easured at current prices into constant-dollar gdp. the gdp deflator shows how much a change in the base year's gdp relies upon changes in the price level. gdp差距 gdp gap the sacrificed output within a country's economy due to the failure to create sufficient jobs for all those willing to wor

10、k. h股 h-shares a share of a chinese company listed on the hong kong stock exchange. 一次性償還bullet repaymenta single payment for an entire loan amount that is paid at maturity. 一次總付分配lump sum distributiona one time payment for the entire amount due, rather than breaking payments into smaller installmen

11、ts. some lump-sum distributions receive special tax treatment.一級資本tier 1 capitala term used to describe the capital adequacy of a bank. tier i capital is core capital, this includes equity capital and disclosed reserves.一般義務(wù)債券general obligation bonda municipal bond backed by the credit and "tax

12、ing power" of the issuing jurisdiction, rather than the revenue from a given project. 一般折舊制度general depreciation systemthe most commonly used system for calculating depreciation. personal property is depreciated using the declining-balance method, which involves applying the depreciation rate a

13、gainst the undepreciated balance.七大工業(yè)國group of seven (g-7)seven of the world's leading countries that meet periodically to achieve a cooperative effort on international economic and monetary issues.七大工業(yè)國g-7seven of the world's leading countries that meet periodically to achieve a cooperative

14、 effort on international economic and monetary issues.二級市場secondary marketa market in which an investor purchases an asset from another investor, rather than an issuing corporation.二級發(fā)行secondary offeringa sale of securities in which one or more major stockholders in a company sell all or a large por

15、tion of their holdings. the underwriting proceeds are paid to the stockholders, rather than to the corporation.人壽保險life insurancea protection against the lost income that would result if the insured were to pass away. the named beneficiary receives the proceeds and is thereby safeguarded from financ

16、ial impacts of the death of the insured.二級資本tier 2 capitala term used to describe the capital adequacy of a bank. tier ii capital is secondary bank capital that includes items such as undisclosed reserves, general loss reserves, subordinated term debt, and more.個人收入personal incomean individual's

17、 total earnings coming from wages, business enterprises, and various investments.個人消費開支pcesimilar to cpi, pce is a report (actually a part of the personal income report) put out by the bureau of economic analysis of the department of commerce. pce is a measure of price changes in consumer goods and

18、services. it consists of the actual and imputed expenditures of households, and includes data pertaining to durables, non-durables, and services.個人理財personal financefinancial planning for individuals. generally, it involves analyzing their current financial position, predicting short-term and long-t

19、erm needs, and recommending a financial strategy. this may involve advice on pensions, school fees, mortgages, life insurance, and investments.子公司、附屬公司subsidiarya company owned by another company that controls more than 50% of its voting stock. 上市公司public companya company that has issued securities

20、through an offering which are now traded on the open market. 上市證券listed securitysecurities that have been accepted for trading purposes by a recognized and regulated exchange.已充分反映實值fully valueda stock that has reached a price that accurately reflects the strength of the company. 已動用資本回報率return on c

21、apital employed (roce)a ratio that indicates the efficiency and profitability of a company's capital investments. calculated as: earnings before interest and tax (ebit) (capital employed + short term borrowings - intangible assets) 已動用資本回報率roce a ratio that indicates the efficiency and profitabi

22、lity of a company's capital investments. calculated as: earnings before interest and tax (ebit) (capital employed + short term borrowings - intangible assets) 已發(fā)行股票shares outstandingthe number of shares that are currently owned by investors. this includes restricted shares (shares owned by the c

23、ompany's officers and insiders) and shares held by the public. shares that the company has repurchased are not considered outstanding stock.大宗交易block tradethe sale or purchase of a large quantity of securities. 廣泛基礎(chǔ)加權(quán)平均broad-based weighted averagean anti-dilution provision used for the benefit o

24、f existing preferred shareholders when additional offerings are made by the corporation. the broad-based weighted average accounts for all equity previously issued and currently undergoing issue.廣泛基礎(chǔ)指數(shù)broad-base indexan index designed to reflect the movement of the entire market. 下調(diào)評級downgradea nega

25、tive change in the rating of a security. 子彈式交易bullet tradethe act of purchasing an "in the money" put option so that the buyer can capitalize on a bear market by effectively shorting a stock without waiting for an uptick.已售商品成本cogsan expense that reflects the cost of the product or good th

26、at generates revenue for a company. sometimes referred to as "cost of sales."已售商品成本cost of goods sold (cogs)an expense that reflects the cost of the product or good that generates revenue for a company. sometimes referred to as "cost of sales."下游downstreamrefers to oil and gas op

27、erations after the production phase and through to the point of sale. 已解除債務(wù)的破產(chǎn)人discharge in bankruptcywhen a bankrupt person or company is legally free and clear of any obligation to repay certain debts. 已繳資本paid-up capitalthe state of a settlement when all payment obligations for a security has bee

28、n completed. 兀鷲投資者vulture capitalist1. a slang word for a venture capitalist who deprives an inventor of control over their own innovations and most of the money they should have made from the invention. 2. a venture capitalist who invests in floundering firms in the hopes that they will turn around

29、. 兀鷲基金vulture funda fund that buys securities in distressed investments, such as high-yield bonds in (or near) default or equities that are in (or near) bankruptcy. 五大工業(yè)國g-5five of the world's leading countries that meet periodically to achieve a cooperative effort on international economic and

30、monetary issues. 五大工業(yè)國group of five (g-5)five of the world's leading countries that meet periodically to achieve a cooperative effort on international economic and monetary issues. 公開上市g(shù)oing publicthe process of selling shares that were formerly privately-held to new investors for the first time

31、.開支比率expense ratiothe percentage of the assets that were spent to run a mutual fund. it includes things like management and advisory fees, travel costs, and 12b-1 fees. the expense ratio does not include brokerage costs for trading the portfolio.公開市場委員會federal open market committee (fomc)the body th

32、at sets the interest rate and credit policies of the federal reserve system.公開市場委員會fomcthe body that sets the interest rate and credit policies of the federal reserve system.日歷年calendar yearthe year that begins january 1 and ends december 31公開發(fā)行價值public offering price (pop)the price at which new iss

33、ues are offered to the public by an underwriter公開說明書prospectus1. a formal legal document describing details of a corporation. the prospectus is generally created for a proposed offering (usually an ipo), but they can still be obtained from existing businesses as well. the prospectus includes company

34、 facts that are vitally important to potential investors. 2. in this case of mutual funds, a prospectus describes the fund's objectives, history, manager background, and financial statements. 公開說明書定稿final prospectusa legal document stating the price of a newly issued security, the delivery date,

35、 and other facts that are important for investors.公開資產(chǎn)public assets that can be traded in a public market, such as the stock market. 無風(fēng)險回報率risk free rate of returnthe quoted rate on an asset that has virtually no risk. 無風(fēng)險資產(chǎn)risk-free assetan asset which has a certain future return. treasuries (espec

36、ially t-bills) are considered to be risk-free because they are backed by the u.s. government. 公開流通股票floatthe total number of shares publicly owned and available for trading. the float is calculated by subtracting restricted shares from outstanding shares.今天最低today's lowthe intra-day low trading

37、price. 今天最高today's highthe intra-day high trading price.開支expense1. money spent by a firm to continue its ongoing operations. 2. money spent or costs incurred that are deductible and reduce your taxable income. 公司化、非共同化demutualizationthe process of changing corporate structure from a mutual fund

38、 company to some other form, such as a limited liability or corporation.公司、企業(yè)corporationthe most common form of business organization. the total worth of the organization is divided into shares of stock, each representing a unit of ownership. a corporation is ongoing and the owners face only limited

39、 liability. 不可買回non-callable securities that cannot be called by the issuer prior to maturity.公平交易arms length transactionwhen the buyers and sellers of a product act independently of each other and have no relationship to each other. 公平價值fair value1. the estimated value of all assets and liabilities

40、 of an acquired company used to consolidate the financial statements of both companies. 2. in the futures market, fair value is the equilibrium price for a futures contract. this is equal to the spot price after taking into account compounded interest (and dividends lost because the investor owns th

41、e futures contract rather than the physical stocks) over a certain period of time. 水平價差horizontal spreadan options strategy involving the simultaneous purchase and sale of two options of the same type, having the same strike price, but different expiration dates.無對沖黃金股票指數(shù)bugs indexshort for "ba

42、sket of un-hedged gold stocks," the bugs index is the amex's index measuring gold companies that do not hedge their gold production beyond a year and a half.無記名票據(jù)floater a bond, or some other type of debt, whose coupon rate changes with market conditions (short term interest rates). 不可抗力for

43、ce majeureliterally translated as "great force," this clause is included in contracts to remove liability for unforeseen events restricting participants from fulfilling obligations.雙頭壟斷duopolya situation in which two companies own all or nearly all of the market for a given type of product

44、 or service. 開市前交易pre-market tradingtrading done before the regular market opens. 公司債券debenture an unsecured debt backed only by the credit worthiness of the borrower. there is no collateral, and the agreement is documented by an indenture. 中央銀行central banka bank providing services for a country'

45、;s government and major commercial banks.公司稅corporate taxa levy placed on the profit of a firm; different rates are used for different levels of profits.公平意見fairness opinionan opinion developed by qualified analysts or advisors with the purpose of providing key details and factual proof to the decis

46、ion makers of a merger or acquisition.牛市bull marketa market in which prices of a certain group of securities are rising or are expected to rise.毛收入gross income1. for individuals, it is your total personal income before deductions. 2. for companies, it is their revenue minus cost of goods sold (also

47、called gross margin). 內(nèi)在價值intrinsic value1. the value of a company or an asset based on an underlying perception of the value. 2. for call options, this is the difference between the underlying stock's price and the strike price. for put options, it is the difference between the strike price and

48、 the underlying stock's price. in the case of both puts and calls, if the difference between the underlying stock's price and the strike price is negative, the value is given as zero. 反向收購reversed takeover1. when a larger company is bought out by a smaller company. 2. the purchasing of a pub

49、lic company by a private company. 反收購措施anti-takeover measuremeasures taken on a continual or sporadic basis by a firm's management in order to prevent or deter unwanted takeovers.反收購法規(guī)anti-takeover statutea set of state regulations that prevent or deter companies from attempting hostile takeover

50、s. these regulations vary across state lines and typically affect only the companies incorporated within the state.無形之手invisible handcoined by adam smith in his 1776 book an inquiry into the nature and causes of the wealth of nations. in his book he states: essentially smith says that individuals tr

51、y to maximize their own good (and become wealthier), and by doing so, through trade and entrepreneurship, society as a whole will be better off. furthermore, any government intervention in the economy isn't needed as the invisible hand would best guide the economy. 及時生產(chǎn)just in timea production s

52、trategy companies employ to increase efficiency and decrease waste by producing goods only as they are ordered or needed. 專利權(quán)patenta government license that allows one exclusive rights to a process, design, or new invention.雙谷經(jīng)濟衰退double dip recessionwhen the gross domestic product (gdp) growth slide

53、s back to negative after a quarter or two of brief positive growth. in other words, a recession followed by a short-lived recovery, followed by another recession.分級股票classified sharesthe separation of company equity into more than one class of common shares, usually called "class a" and &q

54、uot;class b."不良貸款bad debta debt which is not collectable and therefore worthless to the creditor. 不良貸款npl loans that are in default or close to being in default. 不良貸款non-performing loanloans that are in default or close to being in default. 無形資產(chǎn)intangible assetan asset that is not physical in n

55、ature. e.g. goodwill不良資產(chǎn)non-performing assetany asset that is not effectively producing income.天災(zāi)債券act of god bonda bond issued by an insurance company, linking principal and interest to the company's losses due to natural disasters.分拆上市carveout1. sometimes known as a partial spinoff, a carve ou

56、t occurs when a parent company sells a minority (usually 20% or less) stake in a subsidiary for an ipo or rights offering. 2. where an established brick-and-mortar company hooks up with venture investors and a new management team to launch an internet spinoff. 認(rèn)購不足undersubscribedwhen the demand for

57、a new issue of securities (ipo) is less than the number of shares issued. this is sometimes referred to as an underbooking.分拆、出售資產(chǎn)divestiturerefers to the sale of a subsidiary company, also called "spin-off."認(rèn)股權(quán)證warranta derivative security that gives the holder the right to purchase securities (usually equity) from the issuer at a specific price within a certain time frame. 認(rèn)股權(quán)證比重warrant coveragean agreement between a company and its shareholders whereby the company issues warrants equal to some percentage