What is a Cliquet? A cliquet, also called a “ratchet option,” is a series of at-the-money (ATM) options, either puts or calls, where each successive option becomes active when the previous one expires. Key Takeaways A cliquet, also called a “ratchet option,” is a series of at-the-money (ATM) options, either puts or calls, where each
What Is a Clone Fund? A clone fund is a mutual fund strategically designed to emulate the performance of a successful mutual fund. Clone funds are developed to model the performance of larger and more successful mutual funds. Key Takeaways A clone fund is a mutual fund strategically created to perform as a success of a
What Is Closed-End Credit? Closed-end credit is a loan or type of credit where the funds are dispersed in full when the loan closes and must be paid back, including interest and finance charges, by a specific date. The loan may require regular principal and interest payments, or it may require the full payment of
What is Closed To New Accounts? Closed to new accounts means an investment vehicle is no longer allowing new accounts to be added or opened. Key Takeaways Closed to new accounts means that a fund or investment vehicle is no longer taking on new accounts from investors. The fund may often continue to operate with existing
What Is a Closed Account? A closed account is any account that has been deactivated or otherwise terminated, either by the customer, custodian or counterparty. At this stage, no further credits and debits can be added. In accounting, a closed account—or closing entry—refers to the annual process of shifting data from temporary accounts on the income statement to permanent accounts on
You don’t have to get fancy to enjoy Brussels sprouts. Simply steam or sauté the sprouts and serve them with butter or lemon or sprinkled with Parmesan cheese, like you see here. To steam Brussels sprouts, arrange the sprouts or pieces on a steamer rack. Bring 1 to 2 inches of water to a rapid
Battered and baked turnips Let turnips surprise you. They may not be wildly popular but they can be tasty. Here are a few suggestions for serving turnips: • Serve slices of raw young turnips with olives and cherry tomatoes to make a simple appetizer. • Shave raw turnips, crisp them in iced water, sprinkle with
Getting seeds started indoors can be as simple as re-purposing pressed-paper egg cartons. Egg carton cups are just the right size for starting seeds and growing seedlings on to size. Half egg shells and newspaper cones set in egg carton compartments will work just as well. Poke a hole in the bottom of each egg
Seviche is a blend of fresh raw saltwater fish, lime juice, and the addition of vegetables and spices. Seviche is popular as both an appetizer and main course in many Latin American countries. Seviche–which is also spelled ceviche or cebiche–is said to have originated in the ancient Inca civilizations of Peru and Ecuador. The essence
Apple slices and snow peas A refreshing, fruity balance of sour and sweet, apple slices are versatile—and widely matched for flavor. Sweeter varieties such as Fuji and Gala are right for desserts—match them with cream, ice cream, and honey; tart varieties such as Braeburn and Granny Smith are suited to dark greens such as spinach
