Personal Finance (aired 01/02/2024)
It's a number that signals to lenders how likely you are to pay back a loan; above 670 is pretty decent
your FICO score (credit score)
Anderson Brothers Bank was founded in 1933 in the depths of this to give desperately needed support to South Carolina farmers
the Great Depression
IPO: a company's first stock sold to the general population
Initial Public Offering
The rise & fall of the stock market, in good times & bad, is represented by these 2 animals
Bear and Bull
The Federal Reserve's target rate for this is 2%, but that was majorly exceeded in the late months of 2021
Inflation
For film buffs, it's a Tom Cruise hitman-in-a-taxi movie; for bank nerds, it's an asset pledged to secure a loan
Collateral
In September 2008 Lehman Brothers, with $639 billion in assets, filed the largest one of these in U.S. history
bankruptcy
COO: the executive responsible to the board for the day-to-day running of the business
Chief Operating Officer
Many believe this is the most volatile month for the stock market with both the great crash of 1929 & the crash of '87 occurring then
October
It's the central bank of the United States
The Federal Reserve
It's the "H-E" in "HELOC", a line of credit that can pay for your kitchen reno, your wedding... even your divorce
home equity
A philanthropic fund was created in 1940 by these brothers--John 3rd, Laurance, Winthrop, Nelson & David
the Rockefellers
P&L: of concern to all companies
Profit and Loss
A risky venture, some people try to make a living doing this, buying & selling stocks within a matter of hours
day trading
Clement Juglar was one of the first to analyze this, made up of expansion, downturn, contraction
The Business Cycle
This form of income is officially called "Old-Age, Survivors, & Disability Insurance"; most people just call it this
Social Security
The fabulous Baker Boys, Julian & Felix, run a hedge fund specializing in this 7-letter sector of new drug development
biotech
ROI: the amount gained, before tax & after depreciation, from a venture
Return on Investment
This company headquartered in Omaha has the most expensive stock in the world at about $500,000 a share in April 2023
Berkshire Hathaway
A downturn in the U.S. economy from 1836 to 1838 was partly caused by a lack of confidence in this common type of currency
paper currency
If you're eligible, sock away some after-tax retirement scratch in one of these accounts, named for a late Delaware senator
Roth IRA
Founded by French freres, this financial advising & asset managing giant is LAZ on the New York Stock Exchange
Lazard
EPS: the net income of a corporation divided by the total units of common stock outstanding
Earnings Per Share
Japan's equivalent of the Dow Jones Industrial Average is called the this 225
Nikkei
A 21st c. Federal Reserve policy is called this type of easing because it provides banks with more money to loan
Quantitative