U.S. Treasury bill

U.S. Treasury bill

U.S. Treasury bill

U.S. government debt with a maturity of less than a year.



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Two-fund separation theorem

Two-fund separation theorem

Two-fund separation theorem

The theoretical result that all investors will hold a combination of the risk-free asset and the market portfolio.



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Two-factor model

Two-factor model

Two-factor model

Black’s zero-beta version of the capital asset pricing model.



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Turnover

Turnover

Turnover

Mutual Funds: A measure of trading activity during the previous year, expressed as a percentage of the average total assets of the fund. A turnover ratio of 25% means that the value of trades represented one-fourth of the assets of the fund. Finance: The number of times a given asset, such as inventory, is replaced during the accounting period, usually a year. Corporate: The ratio of annual sales to net worth, representing the extent to which a company can growth without outside capital. Markets: The volume of shares traded as a percent of total shares listed during a specified period, usually a day or a year. Great Britain: total revenue.



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Turnkey construction contract

Turnkey construction contract

Turnkey construction contract

A type of construction contract under which the construction firm is obligated to complete a project according to prespecified criteria for a price that is fixed at the time the contract is signed.



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