What Is a Mutual Will? Mutual will is a type of will, usually executed by a married or committed couple, that is mutually binding. After one party dies, the remaining party is bound by the terms of the mutual will. This means that the remaining party can only alter the mutual will if they follow
What Is Market Value Added? Market value added (MVA) is a calculation that shows the difference between the market value of a company and the capital contributed by all investors, both bondholders and shareholders. In other words, it is the market value of debt and equity minus all capital claims held against the company. It is calculated
Myron Scholes is a Canadian-American economist and professor. He received the Nobel Prize in economics in 1997 for his contribution to the Black-Scholes model, a differential equation widely used to price options contracts. Scholes taught at the Massachusetts Institute of Technology and the University of Chicago. He is currently the Frank E. Buck Professor of
What Is the MSCI BRIC Index? The MSCI BRIC index measures the equity market performance of the emerging market indices of Brazil, Russia, India, and China. The MSCI BRIC Index is one of MSCI’s Regional Equity Indices and is a free float-adjusted, market capitalization-weighted index of four of the biggest emerging market economies. It was
What Is Nacha? Nacha is the steward of the electronic system that connects all U.S. bank accounts and facilitates the movement of money among them. According to the organization, $73 trillion moved through its Automated Clearing House (ACH) Network in 2021. Previously known as the National Automated Clearinghouse Association, Nacha is a non-profit association that is funded
What Is the National Association of Investors Corp.? The National Association of Investors Corp. (NAIC) is a nonprofit organization founded in 1951, and dedicated to providing investor education and promote investor success. The association is based in Madison Heights, Mich., and is composed of investing clubs along with individual investors from around the United States.
What Is the National Association of Insurance and Financial Advisors (NAIFA)? The National Association of Insurance and Financial Advisors (NAIFA) is a trade organization for insurance professionals and financial advisors, based in Virginia near Washington, D.C. It is one of the largest trade groups in the financial industry. NAIFA works on behalf of its members to promote
What Is the National Association of Insurance Commissioners (NAIC)? The National Association of Insurance Commissioners (NAIC) is a nonprofit, nonpartisan organization governed by the chief insurance regulators of the 50 states, the District of Columbia, and the five U.S. territories: American Samoa, Guam, the Northern Mariana Islands, Puerto Rico, and the Virgin Islands. The NAIC sets
What Is a Naked Call? A naked call is an options strategy in which an investor writes (sells) call options on the open market without owning the underlying security. This strategy, sometimes referred to as an uncovered call or an unhedged short call, stands in contrast to a covered call strategy, where the investor owns
What is a Naked Position? In securities trading in general, a naked position refers to a securities position, long or short, that is not hedged from market risk. Both the potential gain and the potential risk are greater when a position is naked instead of covered or hedged in some way. In options trading this
