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unit investment trusts
$ pooled from many investors, invested in FIXED portfolio for the life of the fund
private investment pool, wealthy / institutional investors, exempt from SEC, therefore can take more chances that mutual funds
value of research services that brokerages provide "for free" in exchange for the investment manager's business
value at risk, measure of downside risk, worst loss that will be suffered w/ a given probability, often 5%
security characteristic line
it's a plot of a security's PREDICTED excess return FROM the excess return of the market
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