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1、高盛财经词典 - 汉英对照0-9中文词句EnglishEnglish Definitions144A 条例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 infl
2、ation rate and the 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年投资公司法Investment Company Act of 1940Created in 1940 through an act of Congr
3、ess, this piece 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 co
4、mpound return into 72. The result is the approximate number of years that it will take for your investment to double.A-Z中文词句EnglishEnglish DefinitionsAPICS（美国生产及库存控制协议）商业前景指数 APICS Business Outlook Index A national manufacturing index that surveys several manufacturing firms on a monthly basis. If t
5、he index is above 50 it signals expansion, if it dips below 50 it indicates contraction.CAMELS评级制度 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
6、. CEDEL CEDEL One of two principal clearing 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 T
7、otal Debt Service Net Income Shareholders 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 cal
8、culated through a series of adjustments 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平减数 GDP Deflator An economic metric used to account for
9、inflation by converting output measured at current prices into constant-dollar GDP. The GDP deflator shows how much a change in the base years GDP relies upon changes in the price level. GDP差距 GDP Gap The sacrificed output within a countrys economy due to the failure to create sufficient jobs for al
10、l those willing to work. H股 H-Shares A share of a Chinese company listed on the Hong Kong Stock Exchange. 一划中文词句EnglishEnglish Definitions一次性偿还Bullet RepaymentA single payment for an entire loan amount that is paid at maturity. 一次总付分配Lump Sum DistributionA one time payment for the entire amount due,
11、 rather than breaking payments into smaller installments. Some lump-sum distributions receive special tax treatment.一级资本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.一般义务债券General Obligation B
12、ondA municipal bond backed by the credit and taxing power of the issuing jurisdiction, rather than the revenue from a given project. 一般折旧制度General Depreciation SystemThe most commonly used system for calculating depreciation. Personal property is depreciated using the declining-balance method, which
13、 involves applying the depreciation rate against the undepreciated balance.二划中文词句EnglishEnglish Definitions七大工业国Group of Seven (G-7)Seven of the worlds leading countries that meet periodically to achieve a cooperative effort on international economic and monetary issues.七大工业国G-7Seven of the worlds l
14、eading countries that meet periodically to achieve a cooperative effort on international economic and monetary issues.二级市场Secondary MarketA market in which an investor purchases an asset from another investor, rather than an issuing corporation.二级发行Secondary OfferingA sale of securities in which one
15、 or more major stockholders in a company sell all or a large portion of their holdings. The underwriting proceeds are paid to the stockholders, rather than to the corporation.人寿保险Life InsuranceA protection against the lost income that would result if the insured were to pass away. The named benefici
16、ary receives the proceeds and is thereby safeguarded from financial impacts of the death of the insured.二级资本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, subordi
17、nated term debt, and more.三划中文词句EnglishEnglish Definitions个人收入Personal IncomeAn individuals total earnings coming from wages, business enterprises, and various investments.个人消费开支PCESimilar to CPI, PCE is a report (actually a part of the personal income report) put out by the Bureau of Economic Analy
18、sis of the Department of Commerce. PCE is a measure of price changes in consumer goods and services. It consists of the actual and imputed expenditures of households, and includes data pertaining to durables, non-durables, and services.个人理财Personal FinanceFinancial planning for individuals. Generall
19、y, it involves analyzing their current financial position, predicting short-term and long-term needs, and recommending a financial strategy. This may involve advice on pensions, school fees, mortgages, life insurance, and investments.子公司、附属公司SubsidiaryA company owned by another company that controls
20、 more than 50% of its voting stock. 上市公司Public CompanyA company that has issued securities through an offering which are now traded on the open market. 上市证券Listed SecuritySecurities that have been accepted for trading purposes by a recognized and regulated exchange.已充分反映实值Fully ValuedA stock that ha
21、s reached a price that accurately reflects the strength of the company. 已动用资本回报率Return On Capital Employed (ROCE)A ratio that indicates the efficiency and profitability of a companys capital investments. Calculated as: Earnings before interest and tax (EBIT) (Capital employed + Short term borrowings
22、 - Intangible assets) 已动用资本回报率ROCE A ratio that indicates the efficiency and profitability of a companys capital investments. Calculated as: Earnings before interest and tax (EBIT) (Capital employed + Short term borrowings - Intangible assets) 已发行股票Shares OutstandingThe number of shares that are cur
23、rently owned by investors. This includes restricted shares (shares owned by the companys 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. 广泛基础加权平均B
24、road-Based Weighted AverageAn anti-dilution provision used for the benefit of 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.广泛基础指数Broad-Base IndexAn inde
25、x designed to reflect the movement of the entire market. 下调评级DowngradeA negative change in the rating of a security. 子弹式交易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
26、本COGSAn expense that reflects the cost of the product or good that 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 Sa
27、les.下游DownstreamRefers to oil and gas operations after the production phase and through to the point of sale. 已解除债务的破产人Discharge in BankruptcyWhen a bankrupt person or company is legally free and clear of any obligation to repay certain debts. 已缴资本Paid-Up CapitalThe state of a settlement when all pa
28、yment obligations for a security has been completed. 兀鹫投资者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
29、 in the hopes that they will turn around. 兀鹫基金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. 四划中文词句EnglishEnglish Definitions五大工业国G-5Five of the worlds leading countries that meet periodic
30、ally to achieve a cooperative effort on international economic and monetary issues. 五大工业国Group of Five (G-5)Five of the worlds leading countries that meet periodically to achieve a cooperative effort on international economic and monetary issues. 公开上市Going PublicThe process of selling shares that we
31、re formerly privately-held to new investors for the first time.开支比率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 po
32、rtfolio.公开市场委员会Federal Open Market Committee (FOMC)The body that sets the interest rate and credit policies of the Federal Reserve System.公开市场委员会FOMCThe body that sets the interest rate and credit policies of the Federal Reserve System.日历年Calendar YearThe year that begins January 1 and ends December
33、 31公开发行价值Public Offering Price (POP)The price at which new issues are offered to the public by an underwriter公开说明书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 fro
34、m existing businesses as well. The prospectus includes company facts that are vitally important to potential investors. 2. In this case of mutual funds, a prospectus describes the funds objectives, history, manager background, and financial statements. 公开说明书定稿Final ProspectusA legal document stating
35、 the price of a newly issued security, the delivery date, and other facts that are important for investors.公开资产Public Assets that can be traded in a public market, such as the stock market. 无风险回报率Risk Free Rate of ReturnThe quoted rate on an asset that has virtually no risk. 无风险资产Risk-Free AssetAn a
36、sset which has a certain future return. Treasuries (especially T-bills) are considered to be risk-free because they are backed by the U.S. government. 公开流通股票FloatThe total number of shares publicly owned and available for trading. The float is calculated by subtracting restricted shares from outstan
37、ding shares.今天最低Todays LowThe intra-day low trading price. 今天最高Todays HighThe intra-day high trading price.开支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
38、changing corporate structure from a mutual fund company to some other form, such as a limited liability or corporation.公司、企业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 corporat
39、ion is ongoing and the owners face only limited liability. 不可买回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. 公平价值Fair Value1. Th
40、e estimated value of all assets and liabilities 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 (
41、and dividends lost because the investor owns the futures contract rather than the physical stocks) over a certain period of time. 水平价差Horizontal SpreadAn options strategy involving the simultaneous purchase and sale of two options of the same type, having the same strike price, but different expirat
42、ion dates.无对冲黄金股票指数BUGS IndexShort for basket of un-hedged gold stocks, the BUGS index is the AMEXs index measuring gold companies that do not hedge their gold production beyond a year and a half.无记名票据Floater A bond, or some other type of debt, whose coupon rate changes with market conditions (short
43、 term interest rates). 不可抗力Force MajeureLiterally translated as great force, this clause is included in contracts to remove liability for unforeseen events restricting participants from fulfilling obligations.双头垄断DuopolyA situation in which two companies own all or nearly all of the market for a giv
44、en type of product or service. 开市前交易Pre-Market TradingTrading done before the regular market opens. 公司债券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. 中央银行Central BankA bank providing services
45、 for a countrys government and major commercial banks.公司税Corporate TaxA levy placed on the profit of a firm; different rates are used for different levels of profits.公平意见Fairness OpinionAn opinion developed by qualified analysts or advisors with the purpose of providing key details and factual proof
46、 to the decision 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 good
47、s sold (also called gross margin). 内在价值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 stocks price and the strike price. For put options, it is the difference between the strike price and the underlying stocks price. In the case of both puts and calls, if the