Alpine Financial - John Katrichis

John
Katrichis

Normalized earnings
Earnings that have been
adjusted in order to take into account the effect of cycles in the economy.

John
Katrichis - Mortgage

Just-in-time inventory systems
Systems that
schedule materials to arrive exactly when they are needed in the production
process.

Quotation board
The electronic board at a brokerage firm
displaying prices other financial data.

Securities loan
The loan of
securities between brokers, often to cover a client's short sale; or a loan
secured by marketable securities.

Callable
Applies mainly to
convertible securities. Redeemable by the issuer before the scheduled maturity
under specific conditions and at a stated price, which usually begins at a
premium to par and declines annually. Bonds are usually called when interest
rates fall so significantly that the issuer can save money by issuing new bonds
at lower rates.

Account Party
Party who applies to open a bank for
the issuance of a letter of credit.

Alpine Financial
Roll down
To move to an optionposition with a lower exercise price.

Oral contract
A contract not recorded on paper or on computer, but
made vocally which is usually enforceable.

Calendar effect
Describes
the tendency of stocks to perform differently at different times. For example, a
number of researchers have documented that historically, returns tend to be
higher in January compared to other months (especially February). Others have
documented returns patterns across days of the week and within the day. Some of
these patterns are found in volume and volatility as well as returns.

Contingent order
An order which can be executed only if another
event occurs; i.e. "sell Oct 45 call 7-1/4 with stock 52 or lower".

Credit analysis
Evaluating information on companies and bondissues
in order to estimate the ability of the issuer to live up to its future
contractualobligations. Related: Default risk.