abu yahya's definitions
A person who refines political views to accommodate the prevailing winds; particularly, one who contrives self-serving excuses for political views now generally recognized to have been stupid.
In journalism, the current handwringer-in-chief is the New Yorker writer George Packer, whose book *The Assassins' Gate* has met with high praise from ... a subset of pundits I call trimmers... trimmers criticize ... the foolish president, but avoid unequivocal denunciations of this foolish war.
--John R, MacArthur, "Pro-War Liberals Frozen in the Headlights"
--John R, MacArthur, "Pro-War Liberals Frozen in the Headlights"
by Abu Yahya January 23, 2009
Get the trimmermug. (FINANCE) create a call option that allows the future owner to buy a set number of shares of an underlying stock at a fixed strike price. May also be for traded items other than stock. The writer of a call option is both the counterparty and the originator of the derivative.
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A call option is a product that allows an investor to take a long position on a stock without actually owning it; if the underlying stock rises in value, the call option rises a lot more. The increased potential windfall is offset by the much greater likelihood that the investor will lose the entire initial investment.
The writer of the option is presumed to own the thing offered for sale; if the price of the underlying stock rises above the strike price, then the owner of the option will presumably exercise it and pocket the profit. Thus, there is a risk to the writer of the option that all of the profits from owning the stock will go to the buyer of the option. This risk is offset by the fees the writer charges for the option.
In some cases, a speculator may write an option for shares of stock that she does not own. This is particularly risky, since the price of the underlying stock could rise above the strike price, forcing the writer to buy the shares at a high price in order to sell them at a low price.
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A call option is a product that allows an investor to take a long position on a stock without actually owning it; if the underlying stock rises in value, the call option rises a lot more. The increased potential windfall is offset by the much greater likelihood that the investor will lose the entire initial investment.
The writer of the option is presumed to own the thing offered for sale; if the price of the underlying stock rises above the strike price, then the owner of the option will presumably exercise it and pocket the profit. Thus, there is a risk to the writer of the option that all of the profits from owning the stock will go to the buyer of the option. This risk is offset by the fees the writer charges for the option.
In some cases, a speculator may write an option for shares of stock that she does not own. This is particularly risky, since the price of the underlying stock could rise above the strike price, forcing the writer to buy the shares at a high price in order to sell them at a low price.
ANNA: See, here we can see management has totally screwed up. The share price is going to fall, so we should write a call.
BILL: But we don't own any shares of their stock!
ANNA: Yes, I pity the fool who buys our options!
BILL: But we don't own any shares of their stock!
ANNA: Yes, I pity the fool who buys our options!
by Abu Yahya April 5, 2010
Get the write a callmug. The phenomenon of people condemning vices they have indulged in themselves already, and since given up. Inspired by the _Confessions_ of Augustine (417 CE), in which Augustine describes his career path and then denouces the things he did to get to where he is.
WHY IT'S BAD
With SAS, the perpetrator has received the BENEFITS of a particular vice. It could consist of sleeping one's way to the top, or lying a lot, or getting divorced, or indulging a vice until it gets tiresome. At that point the perpetrator makes a big display out of quitting the vice and condemning it publicly. It's like climbing a ladder out of a ditch and then pulling the ladder up so others can't get out of the ditch; and to add insult to injury, the perpetrator ridicules the desire to use the ladder.
Like other forms of hypocrisy, it's destructive because it enforces stupid social codes. If the social codes were right all along, then the perpetrator should not get off the hook for violating them, but, in effect, he gets praise for having done so (and having "kicked the habit"). If the codes were wrong, then they should be confronted . And finally, it's bad because it creates a meritocracy of bullshit.
WHY IT'S BAD
With SAS, the perpetrator has received the BENEFITS of a particular vice. It could consist of sleeping one's way to the top, or lying a lot, or getting divorced, or indulging a vice until it gets tiresome. At that point the perpetrator makes a big display out of quitting the vice and condemning it publicly. It's like climbing a ladder out of a ditch and then pulling the ladder up so others can't get out of the ditch; and to add insult to injury, the perpetrator ridicules the desire to use the ladder.
Like other forms of hypocrisy, it's destructive because it enforces stupid social codes. If the social codes were right all along, then the perpetrator should not get off the hook for violating them, but, in effect, he gets praise for having done so (and having "kicked the habit"). If the codes were wrong, then they should be confronted . And finally, it's bad because it creates a meritocracy of bullshit.
A good example of St Augustine's Syndrome is Doctor Laura Schlessinger, the evangelical talk radio host who climbed her way to the top, divorced, and then renounced feminism. Many putative sages are famous for having had, earlier in their lives, immense amounts of sex with numerous partners, only to renounce the ways of the flesh and denounced materialistic society.
by Abu Yahya March 21, 2010
Get the St Augustine's Syndromemug. (FINANCE) for a financial instrument, the person/institution who takes the opposite position. For example, in a credit default swap (CDS), the buyer is someone who needs insurance against the possibility that a borrower will default on a loan. In that case, the counterparty is whoever receives the CDS premiums, and pays out in the event of default.
The purpose of financial options is to minimize risk to the buyer; therefore, it creates potentially lucrative opportunities for the counterparty, because the counterparty takes on so much risk.
by Abu Yahya April 5, 2010
Get the counterpartymug. (ECONOMICS) international bank created after World War 2 to coordinate currency stabilization. Main policy tool consists of lending money to central bank of countries facing a liquidity crisis.
In some cases, as when a member government is insolvent, the IMF will impose a structural adjustment program (SAP) requiring the government to jettison programs it has to serve the poor. For this reason, the IMF is often harshly criticized.
In some cases, as when a member government is insolvent, the IMF will impose a structural adjustment program (SAP) requiring the government to jettison programs it has to serve the poor. For this reason, the IMF is often harshly criticized.
It is often said that the IMF makes economic crises worse by imposing the same austerity program everywhere, thereby further reducing a member state's ability to pay its sovereign debt.
by Abu Yahya May 5, 2010
Get the IMFmug. (FINANCE) Used either as a noun: a situation in which a trader controls the supply of a traded item, such as shares of stock, supplies of a commodity, etc.
Or else, used as a verb: to obtain control over the supply of a thing, so that one can drive the price up to extremely high levels.
Cornering the market for anything (or getting a corner) is extremely difficult and requires not only immense amounts of money (usually borrowed for the purpose), but also timing and the ability to bluff opponents.
A corner is ultimately a long position in the sense that it is a direct attack on investors taking a short position.
Or else, used as a verb: to obtain control over the supply of a thing, so that one can drive the price up to extremely high levels.
Cornering the market for anything (or getting a corner) is extremely difficult and requires not only immense amounts of money (usually borrowed for the purpose), but also timing and the ability to bluff opponents.
A corner is ultimately a long position in the sense that it is a direct attack on investors taking a short position.
The corner must be timed very precisely, because it cannot last for more than a very short time. Even when the the price of the thing (like, say, silver) goes up to very, very high levels, more supplies cannot come onto the market or the corner will be lost.
At the same time, there has to be a target of the corner--some group of people who have to buy the cornered item no matter how high the price goes (otherwise, the quantity demanded will just go to zero). For this reason, corners are nearly always part of an attempt to squeeze the shorts.
At the same time, there has to be a target of the corner--some group of people who have to buy the cornered item no matter how high the price goes (otherwise, the quantity demanded will just go to zero). For this reason, corners are nearly always part of an attempt to squeeze the shorts.
by Abu Yahya April 5, 2010
Get the Cornermug. (FINANCE) a limited liability partnership (LLP), originally limited to 99 partners, and organized to trade securities under specialized guidelines. The first hedge funds were organized to be a counterparty to the riskiest forms of derivative transactions: writing exotic options or swaps in which the buyer transferred most risks (and potential gains) to the hedge fund, but then offsetting the risk with different derivatives.
The first hedge funds benefited (or thought they benefited) from the Black-Scholes formula used to calculate the value of options; supposedly a hedge fund manager could design an immensely complex portfolio consisting mainly of explosively volatile instruments , whose pieces were supposed to absorb each other's risk.
Hedge funds mainly avoided the consequences of the financial meltdown they helped create, racking up gains through the '00's that far exceeded the rest of the stock market.
The first hedge funds benefited (or thought they benefited) from the Black-Scholes formula used to calculate the value of options; supposedly a hedge fund manager could design an immensely complex portfolio consisting mainly of explosively volatile instruments , whose pieces were supposed to absorb each other's risk.
Hedge funds mainly avoided the consequences of the financial meltdown they helped create, racking up gains through the '00's that far exceeded the rest of the stock market.
The hedge fund used to play a major role in absorbing and structuring the risks associated with hedging risks associated with large portfolios, but they now are sophisticated gambling enterprises.
Hedge funds supply market liquidity for the most exotic of instruments.
Hedge funds supply market liquidity for the most exotic of instruments.
by Abu Yahya September 2, 2010
Get the hedge fundmug.