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Saturday's Term
Ponzi Scheme
Definition:
Named after Charles Ponzi, a man with a remarkable criminal career in the early 20th century, the term has been used to describe pyramid arrangements whereby an enterprise makes payments to investors from the proceeds of a later investment rather than from profits of the underlying business venture, as the investors expected, and gives investors the impression that a legitimate profit-making business or investment opportunity exists, where in fact it is a mere fiction.
Abandon
Definition:
To elect not to exercise or offset a long option position
Accrued interest
Definition:
Interest deemed to be earned on a security but not yet paid to the investor.
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