
X   • Is the Commodity Futures Symbol which represents the November Delivery Month.    Embedded terms in definition   Commodity Delivery month Delivery Futures
   Referenced Terms   Accumulated depreciation: Is the amount of depreciation already taken against an asset. Assume that a computer costs $6,000 and has an eXpected lifeof 5 years and no residual value. After 3 years the accumulated depreciation would be $3,600 (3 x $1,200 annual depreciation).
  Alpha equation: The alpha of a fund is determined as follows: [ (sum of y) ((b)(sum of X)) ] / n where: n =number of observations (36 months) b = beta of the fund x = rate of return for the S&P 500 y = rate of return for the fund
  Annualized gain: If stock X appreciates 1.5% in one month, the annualized gain for that sock over a twelve month period is 12*1.5% = 18%. Compounded over the twelve month period, the gain is (1.015)^12 = 19.6%.
  Beta equation mutual funds: The beta of a fund is determined as follows: [(n) (sum of (Xy)) ][ (sum of x) (sum of y)] [(n) (sum of (xx)) ][ (sum of x) (sum of x)] where: n = # of observations (36 months) x = rate of return for the S&P 500 Index y = rate of return for the fund.
  Cap: Is the ceiling, upper limit price, or interest rate which would be paid. It is analogous to a long call position.A Cap is a call option on interest rates. If the interest rates rise above the cap rate, then the seller compensates the buyer for the difference in interest rates times a notational amount. The cap can in effect convert floating rate liabilities into fiXed rate liabilities. The cap on home mortgages is an example of an interest rate cap. A series of options in which the writer guarantees the buyer, a payor of floating, that he will pay the buyer whatever additional interest he must pay on his loan if the rate on that loan goes above an agreed rate, X.An upper limit on the interest rate on a floatingrate note.
   Related Terms   X or cross trade


Tips for Trying to Fix a Clogged or "Frozen" Home Equity Line: For years, homeowners have turned to home equity lines of credit (HELOCs) as a way to borrow against their home's value to pay for college tuition, home improvements, medical bills and other major expenses. (A home's equity is the market value minus what is owed on the mortgage. If you owe $100,000 on your mortgage but your home is worth $250,000, your equity is $150,000.) More...

Don't let the fear of the time it will take to accomplish something stand in the way of your doing it. The time will pass anyway; we might just as well put that passing time to the best possible use.  Earl Nightingale


