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11 Cards in this Set
- Front
- Back
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Central bank sells assets |
Red receives dollars increasing demand and strengthening the dollar |
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Sterilized |
One side of balance sheet Monetary base unchanged |
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Current account |
International trade balance Us -462 billion Combined equal 0 |
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Breton woods |
Created IMF Org international currency to Us $ |
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Foreign exchange crisis 1992 |
Increase German int rates lower expected return on pounds Equilibrium rate below exchange rate floors England pursue contraction or Germany lower rates, neither would Sell off pounds— pound overvalued Central bank can’t intervene dropping value of pounds |
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ABC shares |
A fee upfront B fee when redeemed C no fee |
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NAV mutual funds |
Price the fund trades each day |
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Denver mutual funds |
Lots because of time difference |
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High water mark |
Admin fees only when find tops previous high |
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Long term capital management |
John meriwhether and scholes bros Huge returns Eminent collapse |
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Alfred Winslow |
Investor has 100k Borrow 100k 130k on good stocks Short 70k on bad stocks More returns less risk |
