European Economic and Monetary Union (EMU)
What is the European Economic and Monetary Union (EMU)? The European Economic and Monetary Union (EMU) integrates the economies of the 19 European Union (EU) member states through a group of economic and monetary policies. All the EU states are in the economic union, but not all are in the monetary union, i.e., Bulgaria, Poland,...
Holder of Record
What is a Holder of Record? Holder of Record is a term that defines an individual or entity that possesses the rights, benefits, and responsibilities associated with owning a financial security. While the term holder of record may be applied to ownership of any financial security – including bonds, futures, or derivatives contracts – the...
Highly Leveraged Transaction (HLT)
What is a Highly Leveraged Transaction (HLT)? A highly leveraged transaction (HLT) refers to a bank loan granted to a company already carrying an exceptionally large amount of debt. In the United States, the Office of the Comptroller of the Currency defines highly leveraged transactions very simply as bank loans to a company with a...
Harvard MBA Indicator
What is the Harvard MBA Indicator? The Harvard MBA indicator is designed to help individuals evaluate investment market opportunities based on how many Harvard MBA students are working in what are deemed “market-sensitive fields.” The Harvard MBA indicator is a long-term, contrarian indicator. It provides a calculation of the total number of students graduating from...
High Earners, Not Rich Yet (HENRYs)
What are High Earners, Not Rich Yet (HENRYs)? In the world of finance, HENRY is an acronym that stands for “high earners, not rich yet.” Although the phrase may appear mostly self-explanatory, there’s a bit more to it than meets the eye. The term was initially coined by Shawn Tully, who first used it in...
