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John Katrichis - Mortgage

Clawback
The ability to recover prior project cash flow that may have been distributed or paid away as dividends to sponsors.

Alpine Financial

Homogeneous
Exhibiting a high degree of homogeneity.

Floating Rate
Interest rate that is reset periodically, usually every couple of months or sometimes daily.

"How are you making XXX?"
"What is your market in a particular stock?" See: Quotation.

Market-book ratio
Market price of a share divided by book value per share.

Contingent order
An order which can be executed only if another event occurs; i.e. "sell Oct 45 call 7-1/4 with stock 52 or lower".

John Katrichis - Mortgage Dow Theory
Used in the context of general equities. Technical theory that a major trend in the stock market must be confirmed by simultaneous movement of the Dow Jones Industrial Average and the Dow Jones Transportation Average to new highs or lows.

Late charge
A fee a creditgrantor charges a borrower for a late payment.

Bullet strategy
A fixed income strategy in which a portfolio is constructed so that the maturities of its securities are highly concentrated at one point on the yield curve.

Stock Index Future
A security that uses composite stock indexes to allow investors to speculate on the performance of the entire market, or to hedge against losses in long or short positions. The settlement of the contracts is in cash.

Dividend limitation
A bond convenant that restricts in some way the firm's ability to pay cash dividends.