abu yahya's definitions
(ECONOMICS) adjusted for the time of year the data refer to.
Economic statistics are often reported as rates of change from month to month, or quarter to quarter. However, some months, such as November and December, have very high retail sales, while May through September have very high home sales. For this reason, data is sometimes "seasonally adjusted" to offset ordinary seasonal variations.
The US Federal Reserve System reports changes in GDP from quarter to quarter in annualized form; so, for example, during the last quarter of 2004, US GDP was (about) $3,044.6 billion. But it was reported as an annualized (and seasonally adjusted) $11734.9. If you divide that by 4 you get 2957.8, which reflects the fact that the Fed shaved 86.8 billion off its estimate of economic activity for 2004Q4 and reallocated it to Q1 & Q2.
The reason the Fed (and everyone else) does this is to measure economic change separately from the usual seasonal change in business activity.
Economic statistics are often reported as rates of change from month to month, or quarter to quarter. However, some months, such as November and December, have very high retail sales, while May through September have very high home sales. For this reason, data is sometimes "seasonally adjusted" to offset ordinary seasonal variations.
The US Federal Reserve System reports changes in GDP from quarter to quarter in annualized form; so, for example, during the last quarter of 2004, US GDP was (about) $3,044.6 billion. But it was reported as an annualized (and seasonally adjusted) $11734.9. If you divide that by 4 you get 2957.8, which reflects the fact that the Fed shaved 86.8 billion off its estimate of economic activity for 2004Q4 and reallocated it to Q1 & Q2.
The reason the Fed (and everyone else) does this is to measure economic change separately from the usual seasonal change in business activity.
BILL: Hey! This data on GDP growth is way different from that data.
ANNA: That's because one set of data is seasonally adjusted. The Fed tweaked the numbers so economic growth from quarter to quarter reflects changing economic conditions, instead of ordinary yearly cycles.
BILL: You mean it's not an evil plot?
ANNA: It's an evil plot to make you forget about Christmas shopping season and labor day white sales.
BILL: Gasp! You mean the Fed is behind the War on Christmas?????
ANNA: That's because one set of data is seasonally adjusted. The Fed tweaked the numbers so economic growth from quarter to quarter reflects changing economic conditions, instead of ordinary yearly cycles.
BILL: You mean it's not an evil plot?
ANNA: It's an evil plot to make you forget about Christmas shopping season and labor day white sales.
BILL: Gasp! You mean the Fed is behind the War on Christmas?????
by Abu Yahya September 8, 2010
Get the seasonally adjustedmug. Capital (in economics) refers to either equipment used to produce goods (tools, factory buildings, infrastructure) or money that is currently used to pay for business ventures. Capital accounts refers to the balance of investment that a country receives from, or supplies to, other countries over the course of a business period. So, for example, in the course of a year the people in country A may buy $1.5 million in shares and bonds from overseas, and sell $900,000 of the same (for net capital exports of $600K); meanwhile, foreigners might buy $1.2 million in shares, etc., while selling $800K of the same (capital imports of $400K). The country therefore exports $600K, imports $400K, and runs a net capital account balance of -$200K.
Over the short run, a capital account surplus can offset a current account deficit.
Over the short run, a capital account surplus can offset a current account deficit.
For the last 30 years the USA has run a surplus in its capital accounts, partly offsetting a gigantic deficit in current accounts.
by abu yahya September 28, 2008
Get the capital accountsmug. (FINANCE) the increase in wealth that goes to the owner of a financial asset when it increases in value. If you buy a share of stock, and the share increases in value, then you have capital gains whether you have sold it or not.
If you sell the stock at the higher price, you have made money on the transaction and have "realized capital gains." If you hang onto the asset in the hopes its value will increase even more, you have "unrealized capital gains."
If you sell the stock at the higher price, you have made money on the transaction and have "realized capital gains." If you hang onto the asset in the hopes its value will increase even more, you have "unrealized capital gains."
For owners of stocks, wealth can come in the form of capital gains or dividends. For owners of gold, the only benefit comes from capital gains. This is why gold is usually not a good investment.
by Abu Yahya April 15, 2010
Get the capital gainsmug. (CINEMA || TELEVISION) technique in which an actor reads lines, but is not shown speaking the lines in the video stream. So, for example, we might see Martin Sheen lying in bed in a decrepit hotel in Saigon, and hear his voice say, "Saigon... shit! I was still in Saigon!" But he's narrating in the past tense, and the Martin Sheen onscreen is not saying anything. Or we might see Robert Duvall sitting on the beach, and Martin Sheen's disembodied voice, calmly recalling, "Well, he loved his men... Felt safe with them.."
It serves to fill in events in the story that the director doesn't want to depict on screen; it helps to describe how a character feels about events shown in the scene, or remind viewers that they are currently watching a flashback; it also has been used successfully to explain away absurd holes in the plot that would otherwise ruin the movie.
The voice over (VO) is particularly popular in US cinema and somewhat less so in British and Japanese; non-US movies that are conscious imitating Hollywood cliches will usually use it as well.
Usually, artistic movies made outside the English-speaking world tend to avoid using the VO because it's a non-traditional narrative technique, and it looks lazy. A good screenwriter doesn't need to use it. However, in commercials and TV "journalism" it is almost supernaturally powerful in persuading people of utter nonsense; it's basically a form of posthypnotic suggestion.
It serves to fill in events in the story that the director doesn't want to depict on screen; it helps to describe how a character feels about events shown in the scene, or remind viewers that they are currently watching a flashback; it also has been used successfully to explain away absurd holes in the plot that would otherwise ruin the movie.
The voice over (VO) is particularly popular in US cinema and somewhat less so in British and Japanese; non-US movies that are conscious imitating Hollywood cliches will usually use it as well.
Usually, artistic movies made outside the English-speaking world tend to avoid using the VO because it's a non-traditional narrative technique, and it looks lazy. A good screenwriter doesn't need to use it. However, in commercials and TV "journalism" it is almost supernaturally powerful in persuading people of utter nonsense; it's basically a form of posthypnotic suggestion.
The propaganda effect of commercials is massively enhanced by the use of voice over narration; usually the VO script is a grammatical mess and crammed with logical errors. This actually makes it work as a tool of brainwashing, since the logic cannot be followed by the listener.
by Abu Yahya July 15, 2010
Get the voice overmug. a sexual relationship involving three persons, two of whom never have sex with EACH OTHER. For example, in a heterosexual triangle M-F-M, the two men have sex with the woman but never with the other.
See closed triangle.
See closed triangle.
A famous example of an open triangle was that involving Manuel de Godoy, Queen Maria Louisa, and King Carlos IV . In exchange for servicing two of the most repulsive people in Europe, Godoy made an enormous fortune and became the effective ruler of Spain.
The relationship was an open triangle because the king and queen found each other unbearable.
The relationship was an open triangle because the king and queen found each other unbearable.
by Abu Yahya March 21, 2010
Get the open trianglemug. (FINANCE) business entity formed to pool money provided by investors in order to buy majority stakes in existing companies. A common practice is to then "take the company private," so that it no longer has shares trading on the stock market. The company is then restructured, so that it has entirely different management practices, or a different business strategy. Afterward, the PE fund will most likely re-sell the company on the stock market in a sponsored IPO.
Private equity funds are usually limited liability partnerships (LLPs), which gives them special privileges of nondisclosure; most are organized in the State of Delaware. PEF's have sponsors, or "principals," who are responsible for organizing the fund and recruiting other investors.
Among the best-known PE funds are Blackstone Group*, Kohlberg Kravis Roberts (KKR)*, Goldman Sachs Capital Partners*, Carlyle Group, Permira, Apollo Management, Providence Equity, TPG Capital, Warburg Pincus, and Cerberus. Companies marked with an asterisk (*) are publically listed corporations; most PE funds are pivately managed. The selection above includes the largest ones by capital under management.
Private equity funds are usually limited liability partnerships (LLPs), which gives them special privileges of nondisclosure; most are organized in the State of Delaware. PEF's have sponsors, or "principals," who are responsible for organizing the fund and recruiting other investors.
Among the best-known PE funds are Blackstone Group*, Kohlberg Kravis Roberts (KKR)*, Goldman Sachs Capital Partners*, Carlyle Group, Permira, Apollo Management, Providence Equity, TPG Capital, Warburg Pincus, and Cerberus. Companies marked with an asterisk (*) are publically listed corporations; most PE funds are pivately managed. The selection above includes the largest ones by capital under management.
The private equity fund first appeared in the 1970's as a result of changes to ERISA. Institutional investors, usually pension funds, could be legal partners in an LLP; they also required a place to park assets with very high rates of return.
In the USA, PE funds have long been sinecures for the most powerful political dynasties: the Rockefellers, the Romneys, the Bushes, and others.
In the USA, PE funds have long been sinecures for the most powerful political dynasties: the Rockefellers, the Romneys, the Bushes, and others.
by Abu Yahya September 1, 2010
Get the private equity fundmug. (FINANCE) a type of financial derivative which two parties "swap," or exchange, the streams of income (or payments) from two different sources. The actual instrument is created by a third party, such as an investment bank.
The most familiar version of the swap is the interest rate swap, in which the holder of a fixed rate loan and the holder of an adjustable rate loan agree to exchange revenue streams.
The variety of swaps available is massively greater than with options or futures; essentially, swaps exist for every arbitrage opportunity that any combination of markets provides; the market for swaps is huge.
The most familiar version of the swap is the interest rate swap, in which the holder of a fixed rate loan and the holder of an adjustable rate loan agree to exchange revenue streams.
The variety of swaps available is massively greater than with options or futures; essentially, swaps exist for every arbitrage opportunity that any combination of markets provides; the market for swaps is huge.
BILL: Why do firms buy swaps? Why don't they just sell the loans they have to other banks, or whatever?
ANNA: One is that swaps are a method of hedging risk; you hold the bond in case the price goes up, but you buy interest rate swaps to protect against having average rates in your portfolio that are two high or two low.
ANNA: One is that swaps are a method of hedging risk; you hold the bond in case the price goes up, but you buy interest rate swaps to protect against having average rates in your portfolio that are two high or two low.
by Abu Yahya April 5, 2010
Get the swapmug.