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Marketing Clients:
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Real Estate Dictionary/Glossary A,
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N.B. This glossary is provided with the understanding that the author is not
providing any legal, or other professional services. If legal or real estate
advice is required, the services of a competent professional person should be
sought.
Kansas City Board of Trade
The second largest grain exchange in the world, established in 1876. It was
the first exchange
Kerb Market
In the US, trading in shares of companies not listed on the main stock exchange
board. In the UK, kerb trading is trading in commodities outside official market
hours. In Australia the term 'kerb market' has been applied to 'junior' shares
which have little turnover.
Keynes, John Maynard
(1883 - 1946)famous as a UK economist, but more than that, Keynes was a man of
eclectic interests, very different from today's specialists: pragmatic,
flexible, not dogmatic. He was educated at Cambridge, where he studied
mathematics and philosophy. He believed that production and employment and
income levels are determined by the levels of total spending on goods and
services.
Keynes' ideas spread around the world and began to be seriously discussed in
Australia in the 1930s (perhaps in response to the Great Depression). In his
Treatise of Money, published in 1930, Keynes provided a critique of prevailing
monetary theory and policy; he gave a fuller explanation in the General Theory
of Employment, Interest and Money (1936).
Keynes provided a theoretical rationale for increased government intervention
and he emphasised fiscal rather than monetary policies.
He held that a fall in net income, lack of demand and rising unemployment should
be met by increased government spending to stimulate the economy - 'spending
your way out of a recession', as it was expressed by his enemies. Keynesian
ideas fell out of favour in the radically changed world of the 1970s, when
recession joined forces with inflation. There was no simple Keynesian
prescription for the 1970s and conditions favoured the monetarist revival.
Kickback
Payment made to someone for referral of a customer or business. Unlike a
commission, a kickback is made without the customer's knowledge; thus, the
referral could have been made without the customer's best interest at heart. A
slice of a fee, salary or commission given to a third party for its assistance.
Killer Bees
Individuals or firms - usually investment banks - employed by a company to help
deflect a hostile takeover bid.
Killer Warrant
A killer warrant, when exercised, automatically calls for the redemption of the
security for which it was originally issued; a naked warrant is a debt warrant
issued alone without a host (underlying) bond or security; and a wedding warrant
is a structure of debt warrant attached to a host bond that protects the issuer
from the potential doubling up of debt should the warrant be exercised. The
warrants can only be exercised during the early part of their life into virgin
bonds by tendering them along with the original callable bond. Also harmless
warrant.
Kiosk
A kiosk is a freestanding structure (open sides, usually multi sided) located in
a shopping center or mall from which merchandise is sold. A multi-sided
structure found in a shopping mall or center.
Kilo Bar
A one-kilogram bar of gold, a standard specification in gold trading, popular
with jewellers.
Kite
UK market slang for an accommodation bill of exchange.
Kite Flying
In the UK, the use of bills of exchange or other instruments to raise funds to
give the appearance of being creditworthy.
KLSE
Abbrev. Kuala Lumpur Stock Exchange.
Knock Down
The term is used to refer to prepared construction materials which are delivered
to the building site unassembled but complete and ready to be assembled and
installed, such as a window.
Knock-in Option
Down-and-out or up-and-out puts and calls that expire if a predetermined price
level in the underlying asset or instrument is triggered.
Kondratieff Cycle
A long-term trade cycle. It is named after the Russian economist Nikolai
Kondratieff, who identified 50 to 60 - year cycles of economic activity and who
is noted for his analysis of these fluctuations. Also long (Kondratieff) cycle.
Korea Stock Exchange
Established in 1956, located in Seoul. Abbrev. KSE.
KSE
Abbrev. Korea Stock Exchange.
Kuala Lumpur Stock Exchange
Incorporated in 1965 as Kuala Lumpur's stock exchange (although share-trading
activity dated from the 1930s). Abbrev. KLSE.
Kurtosis
The degree to which a statistical distribution is sharply peaked at its centre.
Real Estate Dictionary/Glossary A,
B,
C,
D,
E,
F,
G,
H,
I,
J,
K,
L,
M,
N,
O,
P,
Q,
R,
S,
T,
U,
V,
W,
X,
Y,
Z
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