About half (48%) of all lotto winners work after they win. Unfortunately for the last 19 years John Musgrave wasn’t able to participate in such activity, but that didn’t stop him from feeling like he won the lottery every day. Musgrave was a a Sunday school teacher and on the board of directors at his church before he became Lottery Commissioner in West Virginia. While he had worked for years in different administrative positions at the state and federal level, it certainly made for an unexpected appointment by then-Governor Cecil Underwood in 1997.
“I said, ‘The Lottery?’ Musgrave said. “The last thing I?d want to be associated with would be gambling.”
After almost 19 years of overseeing lottery payments and watching people decide between lump sum versus Continue Reading No Comments
Prime brokers are the primary individuals utilized by prime brokerage firms to coordinate and make sales and trades with hedge funds. The everyday person can use prime brokers as a way to invest money in the dynamic and exciting world of stocks, bonds, and other securities. According to a Bankrate.com survey, over half (52%) of Americans do not have any money invested in the stock market. That’s not just the purchase of regular stocks, but includes mutual funds, 401k accounts, and IRAs. Lack of investing knowledge was cited by 21% of people as the reason they don’t own stocks. Here are three of the ways prime brokerage services function to help you understand and potentially use their services in the future.
Bonds are probably the most prevalent things brokers buy by volume. In fact, the U.S. bond market alone is worth in excess of $34 trillion! They don’t always buy them, though. Sometimes brokers will borrow bonds, known as “securities lending.” Overall, it is a large, liquid, and at times volatile market in the United States. The corporate bond market alone is estimated to trade about $16 billion worth daily.
Short selling is essentially the opposite of buying a stock. When you buy a stock you’re buying a piece of the company, thus making a bet that they will succeed and continue to grow. When you decide to sell a stock short you’re making a bet that the price of the stock will fall. Short selling is seen by many as a way to combat market bubbles before they “pop.”
The prime broker is the middleman between hedge funds and institutional investors, or commercial banks. The investors/banks provide the capitol or assets and the hedge funds participate in security lending and margin financing. Obviously this is a drastic oversimplification, so if you’re interested in more specific details talk to your financial adviser or find some classes in securities finances! cgparka cgparka
Sometimes it’s by choice, other times it’s out of necessity, regardless selling a structured settlement is a great way to come up with a significant amount of money in a short amount of time. Whether you got it from a workers compensation case, insurance claim, or some other kind of lawsuit more than 37,000 Americans use structured settlement annuity benefits money every year. It can be great for planning out long-term budgets, but we’re not always in the position to wait around for the money we’re owed to trickle in. There are many times throughout life that you may want to s