LETTER SECURITY
An unregistered stock or bond that is sold directly to an investor by the issuer. The security is not registered with the Securities and Exchange Commission (SEC) and cannot be sold to the public in the marketplace. The term derived from the SEC requirement for an "investment letter" for the purchaser, which explains it is for long-term investment purposes and not intended for resale, for a specified number of years.
Also called restricted security, letter stock or letter bond.
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Robert C. Merton
American economist who won the 1997 Nobel Memorial prize in Economic Sciences, along with Myron Scholes, for developing the Black-Sholes model, whi ...
Buy Stops Above
Recommendation to purchase a given security once a security’s price surpasses a particular resistance level by putting a buy stop order at th ...
Admitted Company
An insurance company admitted and allowed by an another state to transact insurance business despite having a domiciled status on an another state. ...
Black Box Model
Computer program, process, or system processing the information entered by the user using pre-programmed logic in order to produce the user’s ...
Form 3903
A form issued by the IRS and used by taxpayers to deduct moving expenses related to taking a new job.
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