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121 permit
1) разрешение; лицензия; пропуск2) разрешать•- building permit - entry permit - housing permit - local building permit - official permit - single-family permit - water permit - well permit - work permit - wrecking permit* * *разрешение; лицензия; пропуск- building permit
- demolition permit
- special permit
- wrecking permit -
122 soft dollaring
See:Another reason managers are interested in controlling client commissions deserves special attention. "Soft dollaring" has got to be one of the most misunderstood and controversial practices in the money management business. The very term "soft dollars" suggests something shady and conjures up images of money exchanging hands in dark alleyways. Among laymen, soft dollars may be confused with "soft money" political contributions. There is a thin connection between "soft dollars" and "soft money." Since brokerage firms are not subject to the same rules pertaining to political contributions as municipal underwriting firms, large "soft money" contributions from owners of brokerage firms do find their way into politicians' coffers more easily than contributions from underwriters. However, it is important to not confuse the two terms.So what is "soft dollaring?" Soft dollaring is the practice whereby money managers use client brokerage commissions to purchase investment research. When a manager pays for products or services with his own money, directly from the research provider, this is referred to as "hard dollars." Payment with client commissions, financed through a brokerage firm, is referred to as "soft dollars." Through soft dollar arrangements money managers are permitted to shift an expense related to the management of assets they would otherwise have to bear, onto their clients. The amount of this research expense the money management industry transfers onto its clients is in the billions annually. As a result, any analysis of the economics of the money management industry should include the effects of soft dollaring; however, we are unaware of any that has. In the institutional marketplace, strange as it may seem, it is possible for a money manager to profit more from soft dollars than from the negotiated asset management fee he receives.The general rule under the federal and state securities laws is that a fiduciary, the money manager, cannot use client assets for his own benefit or the benefit of other clients. To simplify matters greatly, soft dollaring is a legally prescribed exception to this rule. Congress, the SEC and other regulators have agreed that as long as the research purchased assists the manager in making investment decisions, the clients benefit and its legally acceptable. A tremendous amount of strained analysis has gone into the precise policies and procedures that managers must follow in purchasing research with client commission dollars. Over the years a distinction has been made between "proprietary" research or in-house research distributed to brokerage customers without a price tag attached and "independent third-party" research or research written by a third party and sold to managers at a stated price. Third party research has been most frequently criticized because its cost is separately stated and the benefit to managers most obvious. In this latter case, a breach of fiduciary duty seems most glaring. However, it is well known that proprietary research, offered for "free, " is produced to stimulate sales of dealer inventory. So presumably this research lacks credibility and is less beneficial to clients. There have been distinctions drawn between products and services, such as computers, which are "mixed-use, " i.e., which may serve dual purposes, providing both research and administrative uses. An adviser must make a reasonable allocation of the cost of the product according to its uses, the SEC has said. Some portion must be paid for with "hard" dollars and the other with "soft." There are several articles in our Library of Articles that describe soft dollar practices, rule changes and our proposal to Chairman Levitt to reform the soft dollar business.The issue that soft dollaring raises is: when is it acceptable for a manager to benefit from his client's commissions? For purposes of this article we would like to introduce a new and more useful perspective for pensions in their analysis of soft dollars or any other brokerage issue. That is, all brokerage commissions controlled by managers, benefit managers in some way. Brokerage decision-making by managers rarely, if ever, is simply based upon what firm can execute the trade at the best price. Brokerage is a commodity. Almost all brokerage firms offer reasonably competent, "best execution" services. If they didn't, they'd get sued and soon be out of business. Most savvy brokerage marketers don't even try to differentiate their firms with long-winded explanations about best-execution capabilities. Best execution is a given and impossible to prove. If you want to understand how your money manager allocates brokerage, study his business as a whole, including his marketing and affiliates-not just the investment process.The new English-Russian dictionary of financial markets > soft dollaring
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123 a pressure group
"группа нажима" (круги, оказывающие влияние на политику, законодательство и т. п.; клика или группа, влияющая на общественное мнение) первонач. амер.Well, I'm sorry to have to tell you, but I haven't been able to resist indefinitely. These people - what do they call them, in their abominable jargon? "pressure groups"? - have been prepared to go over our heads. (C. P. Snow, ‘Corridors of Power’, ch. XXX) — Так вот, должен с огорчением признать, что я не мог сопротивляться до бесконечности. Эта публика (как там они себя именуют на своем мерзком жаргоне? Группами нажима?) готова действовать через нашу голову.
The American electoral system has always favored, in fact, made necessary the formation of special pressure groups operating within the framework of the two-party system. (G. Green, ‘The Enemy Forgotten’, ch. XI) — Американская избирательная система всегда поощряла, фактически даже делала неизбежным возникновение особых влиятельных группировок, действующих в рамках двухпартийной системы.
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124 ins and outs
I did not know the way to the countess's chamber, but Marco had been a special favourite, and knew well the ins and outs of the Palace. (W. S. Maugham, ‘The Making of a Saint’, ch. XXIII) — я не знал, где находилась спальня графини, но Марко, который пользовался ее особой любовью, знал во дворце все входы и выходы.
2) детали, подробности, тонкостиBut it's only natural, isn't it, to want to hear the ins and outs of a case like this. (A. Christie, ‘The Murder at the Vicarage’, ch. X) — Желание узнать все подробности такого дела вполне естественно, не правда ли?
Jurgis... met with the heelers of both parties, and from their conversation he came to understand all the ins and outs of the game... (U. Sinclair, ‘The Jungle’, ch. XXV) — Юргис... встречался с представителями обеих партий и из разговоров с ними до тонкостей понял всю эту политическую игру...
There were so many ins and outs to this financial life. (Th. Dreiser, ‘The Financier’, ch. XIV) — Подноготная финансовой жизни так сложна.
It is no accident that both Whig and Tory parties emerge as organized forces, playing a game of "ins" and "outs". — Отнюдь не случайно возникновение партий тори и вигов, которые в политической игре выступали то как правительственная, то как оппозиционная партия.
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125 it is his funeral
разг.(it is his (her, etc.) funeral)это его (её и т. д.) дело, это его (её и т. д.) касается; тем хуже для него (для неё и т. д.) [первонач. амер.; жарг.]; см. тж. none of our funeral‘Oh, well, it's not my funeral,’ he went on. ‘If the governor wants to keep him on here whether he's fitted for anything special or not, that's his look-out.’ (Th. Dreiser, ‘An American Tragedy’, book II, ch. VI) — - Ну, меня это мало трогает, - продолжал Джилберт. - Если отец захочет оставить этого парня на фабрике, не считаясь с тем, годится он на что-нибудь или нет, - это его дело.
‘It's your funeral then,’ Arthur warned him. ‘And yours,’ Fred retorted, ‘for getting mixed-up in a thing like this.’ (A. Sillitoe, ‘Saturday Night and Sunday Morning’, part I, ch. VII) — - Тем хуже для вас, - предостерегающе заметил Артур. - Да и для вас тоже, - возразил Фред, - ведь и вы замешаны в этой истории.
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126 sequence
1) очерёдность; порядок следования3) геол. стратиграфический разрез4) серия, комплекс•- absolutely divergent sequence - absolutely limited sequence - absolutely summable sequence - absolutely unbiased sequence - adjusted homology sequence - asymptotically convergent sequence - asymptotically isotropic sequence - asymptotically lattice sequence - compactly divergent sequence - completely reversible sequence - conditionally divergent sequence - decimal geometric sequence - delicately divergent sequence - discretely convergent sequence - essentially convergent sequence - essentially finite sequence - essentially periodic sequence - everywhere dense sequence - infinitely large sequence - infinitely proceeding sequence - infinitely small sequence - integral stationary sequence - inverse sequence - inverted sequence - linearly independent sequence - locally convergent sequence - metrically convergent sequence - metrically transitive sequence - monotonically decreasing sequence - monotonically increasing sequence - never increasing sequence - numerical sequence - projectively realizable sequence - properly divergent sequence - rapid acquisition sequence - rapidly decreasing sequence - rapidly increasing sequence - recursively defined sequence - recursively divergent sequence - recursively enumerable sequence - relatively compact sequence - sequence of prime numbers - sequence of principal indices - slowly decreasing sequence - slowly increasing sequence - slowly oscillating sequence - stochastically compact sequence - stochastically stable sequence - strictly increasing sequence - strictly measurable sequence - strictly monotonic sequence - strongly convergent sequence - strongly downward sequence - strongly stationary sequence - strongly summable sequence - totally increasing sequence - totally monotone sequence - two-taile sequence - two-way infinite sequence - unconditionally divergent sequence - uniformly divergent sequence - uniformly integrable sequence - weakly convergent sequence -
127 subgraph
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128 theorem
- analytical hierarchy theorem - arithmetical hierarchy theorem - closed range theorem - formally provable theorem - implicit function theorem - initial value theorem - integral representation theorem - local limit theorem - maximal ergodic theorem - mean value theorem - normal form theorem - ratio limit theorem - rational root theorem - second mean value theorem - theorem of consistency proofs - theorem of corresponding states - three line theorem - three series theorem - uniform convergence theorem - uniform ergodic theorem - uniform mean value theoremtheorem implies — из теоремы следует, что…
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