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Liquidity diversification
Investing in a variety of maturities to reduce the price risk to which holding long bonds exposes the investor.
Liquidity Fund
A California company that buys real estate limited partnership interests at 25% to 35% lower than the current value of the real estate assets.
Liquidity preference hypothesis
The argument that greater liquidity is valuable, all else equal. Also, the theory that the forward rate exceeds expected future interest rates.
Liquidity premium
Forward rate minus expected future short-term interest rate.
Liquidity ratios
Ratios that measure a firm's ability to meet its short-term financial obligations on time, such as the ratio of current assets to current liabilities.
Liquidity risk
The risk that arises from the difficulty of selling an asset in a timely manner. It can be thought of as the difference between the "true value" of the asset and the likely price, less commissions.
Liquidity theory of the term structure
A biased expectations theory that asserts that the implied forward rates will not be a pure estimate of the market's expectations of future interest rates because they embody a liquidity premium.
Lisbon Stock Exchange (LSE)
stock_exchanges trading stocks, bonds, and unit_trust. The BVL general index is the exchange's official index.
Listed firm
A company whose stock trades on a stock_exchanges, and conforms to listing requirements.
Listed option
An option that has been accepted for trading on an exchange.
Listed security
Stock or bond that has been accepted for trading by one of the organized and registered securities exchanges in the United States. Generally, the advantages of being listed_firm are that exchanges provide: (1) an orderly marketplace; (2) liquidity ; (3) fair price determination; (4) accurate and continuous reporting on sales and quotations ; (5) information on listed_firm ; and (6) strict regulation for the protection of securityholders. Antithesis of OTC Security.
Listed stocks
Stocks that are traded on an exchange.
Listing
In the context of real estate, written agreement between a property owner and a real estate broker that gives the broker permission to find a buyer or tenant for some property. See Also: Listing broker
Listing broker
In the context of equity, when a stock is traded in exchange it is said to be listed. A licensed real estate broker who completes a listing of a property for sale.
Listing requirements
Requirements, including minimum shares outstanding, market value, and income, that are laid down by an exchange for any stock to be listed for trading.
Living benefits
Life insurance benefits from which the insured can draw cash while still living, usually in the case of some high-cost illness.
Living trust
A trust that an individual establishes during the individual's lifetime, enabling the person to control the assets contributed to the trust. Also known as an inter vivos trust.
Living will
A document specifying the kind of medical care a person wants-or does not want-in the event of terminal illness or incapacity.
LK
The ISO 3166 country code for SRI LANKA.
LKR
The ISO 4217 currency code for Sri Lankan Rupee.
Lloyds of London
A marketplace in London for underwriting syndicates.
Load
The sales fee charged to an investor when shares are purchased in a load fund or annuity. See: Back-end load; front-end load ; level load.
Load fund
A mutual fund that sells shares with a sales charge-typically 4% to 8% of the net amount indicated. Some no-load funds also levy distribution fees permitted by Article 12B-1 of the Investment Company Act; these are typically 0. 25%. A true no-load fund has neither a sales charge nor a distribution fee.
Load spread option
A method of allocating the annual sales charge on load funds, often through percentage deductions from a customer's periodic fixed payments.
Load-to-load
Arrangement whereby the customer pays for the last delivery when the next one is received.
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