Investor

An investor allocates capital with the expectation of a future financial return. Types of investments include: equity, debt securities, real estate, currency, commodity, derivatives such as put and call options, etc. This definition makes no distinction between those in the primary and secondary markets. That is, someone who provides a business with capital and someone who buys a stock are both investors. An investor who owns a stock is a shareholder.

Essential quality

The assumption of risk in anticipation of gain but recognizing a higher than average possibility of loss. The term "speculation" implies that a business or investment risk can be analyzed and measured, and its distinction from the term "investment" is one of degree of risk. It differs from gambling, which is based on random outcomes.

Investors can include stock traders but with this distinguishing characteristic: investors are owners of a company which entails responsibilities.

Types of investors

There are two types of investors, retail investors and institutional investors:

Online and offline

The terms "online" and "offline" have specific meanings in regard to computer technology and telecommunications in which "online" indicates a state of connectivity, while "offline" indicates a disconnected state. Common vernacular extended from their computing and telecommunication meanings and refers specifically to an Internet connection. Lastly, in the area of human interaction and conversation, discussions taking place during a business meeting are "online", while issues that do not concern all participants of the meeting should be "taken offline" — continued outside of the meeting.

Definitions

In computer technology and telecommunication, online and offline are defined by Federal Standard 1037C. They are states or conditions of a "device or equipment" or of a "functional unit". To be considered online, one of the following may apply to a system: it is under the direct control of another device; it is under the direct control of the system with which it is associated; or it is available for immediate use on demand by the system without human intervention.

Stock market

A stock market or equity market or share market is the aggregation of buyers and sellers (a loose network of economic transactions, not a physical facility or discrete entity) of stocks (also called shares); these may include securities listed on a stock exchange as well as those only traded privately.

Size of the market

Stocks can be categorized in various ways. One common way is by the country where the company is domiciled. For example, Nestlé and Novartis are domiciled in Switzerland, so they may be considered as part of the Swiss stock market, although their stock may also be traded at exchanges in other countries.

At the close of 2012, the size of the world stock market (total market capitalisation) was about US$55 trillion. By country, the largest market was the United States (about 34%), followed by Japan (about 6%) and the United Kingdom (about 6%). This went up more in 2013.

Stock exchange

A stock exchange is a place or organization by which stock traders (people and companies) can trade stocks. Companies may want to get their stock listed on a stock exchange. Other stocks may be traded "over the counter", that is, through a dealer. A large company will usually have its stock listed on many exchanges across the world.

My Favorite

My Favorite are an indie pop band formed in Long Island, New York in the early 1990s, later of Brooklyn and Queens. After releasing two full-length CDs, the original band split in 2005, but reformed in 2014.

Formation and original era

My Favorite formed in Long Island in the early 1990s, and eventually migrated to the New York City boroughs of Brooklyn and Queens. The original lineup consisted of founder and principal songwriter Michael Grace Jr., vocalist Andrea Vaughn, guitarist Darren Amadio, bassist Gil Abad and drummer Todd "Todbot" Karasik.

Their main influences included The Smiths, David Bowie, New Order and various singles from influential labels like Factory, Rough Trade, Cherry Red and Sarah. In negotiating these influences and impulses, they were contemporaries of Magnetic Fields and Belle and Sebastian, two bands they performed alongside in New York.

The band released two full-length CDs (Love at Absolute Zero and The Happiest Days of Our Lives: The Complete Joan of Arc Tapes), and several EPs and limited-edition, vinyl-only singles. They also made two music videos.

Bill Ackman

William Albert Ackman (born May 11, 1966), is an American hedge fund manager. He is the founder and CEO of Pershing Square Capital Management LP, a hedge fund management company. Ackman is considered a contrarian investor. He considers himself an activist investor.

Early life

Ackman was raised in Chappaqua, New York, and he is the son of Ronnie I. (née Posner) and Lawrence David Ackman, the chairman of a New York real estate financing firm, Ackman-Ziff Real Estate Group. His family is Jewish.

Education

In 1988, he received a bachelor of arts degree magna cum laude in History from Harvard College. His thesis was "Scaling the Ivy Wall: the Jewish and Asian American Experience in Harvard Admissions." In 1992, he received an MBA from Harvard Business School.

Career

In 1992 Ackman founded the investment firm Gotham Partners with fellow Harvard graduate David P. Berkowitz. This investment firm made small investments in public companies. In 1995, Ackman partnered with the insurance and real estate firm Leucadia National to bid for Rockefeller Center. Although they did not win the deal, the high-profile nature of the bid caused investors to flock to Gotham Partners, growing it to $500 million in assets by 1998.