INDEX
rental property 170–71
returns 189
risk tolerance 192–3
shares 48–9, 54, 60–61, 164–5, 182–3
and state pensions 140–41
tax breaks on 242
and wealth 154, 155, 157, 159, 161
wealth-building 174 – 85
investment assets 152
investment banks 71, 74 –5
investment companies 80–81
investment forums 67
investment funds 80
investor types 192–3
“invisible hand” 20–21
IOUs 14 –15, 16
Islamic mortgages 213J
Japan Stock Exchange (JPX) 55
jewellery, investing in 155
joint-stock companies 19
Junior ISAs 242
junk bonds 51K
Keynes, John Maynard 22–3L
Laffer, Arthur/Laffer curve 127
laissez-faire 20, 21
land tax 238, 241
landfill tax 238, 241
landlords 170–71
late fees 211
latent demand 134
leasing, assets 33
legal tender 236
Lehman Brothers 35, 71
lender of last resort 100, 236
leverage 59, 206
liabilities
balance sheets 44–5, 141
bank 88, 89
personal 152–3
Libor 57, 67
life assurance 172–3
life insurance 172
life settlement 172
lifecycle (“debt phase”) 43
lifestyle 156, 192lifestyling 163
liquid assets 152
liquid shares 68–9, 76
liquidity 38, 61, 76, 189
liquidity trap 95
and net worth 153
listed (shares) 48, 168
living abroad, tax relief 247
living standards 98, 117, 150, 151, 198
loan-to-value (LTV) rate 180, 205, 213
loans
bank 88, 89
brokers 210
corporate 41, 47
cost of 122, 123
credit unions 216, 217
and debt 155, 204, 210–11
government 47
interest on 72, 73
loan agreements 211
money market and 56–7
and property value and equity 181
repayments 36, 37, 210
secured 121
types of 204
unsecured 121
see also mortgages
London Stock Exchange (LSE) 55, 61, 65,
182, 232–3
Long-Term Capital Management (LTCM) 65
long-term liabilities 152
low gearing 40–41
lump sum investment 190, 191
lump sum, pension 246M
macroeconomics 13
Madoff, Bernie 35
Main Market (LSE) 232–3
maintenance, property 170, 171, 177
managed funds 174, 183, 184–5
investing in 163, 168–9
margin call 59
margin trading 69
marginal tax rate 126
market capitalization 188
market changes, predicting 62–3
market conditions 190, 191
market data 69
market equilibrium 20–21
market index 169
market makers 61
market power 134
market research groups 159market value 50, 51, 176, 181
Marx, Karl 22
Mazacoin 221
mercantilism 20, 21
mergers and acquisitions 75
microeconomics 13
miners 220, 222, 223, 224
minimum monthly deposit accounts 166
minimum repayments 218
Monetary Policy Committee (MPC) 237
money
artefacts of 16–19
barter, IOUs and 14–15
characteristics of 16
in circulation 88–9, 123
creation of new 124
in the digital age 220–29
economic theories of 22–3
economics of 18–19
evolution of 12–23
hoarding 95
inflation and velocity of 134
printing 96, 97 , 104, 105, 143, 236
purchasing power 132
value of 15, 16, 17
money market 56–7
money market deposits 167
money market funds 57
money supply 13, 86–95
banking reserves 90–91
central banks and 98, 100, 102–3, 236
government and 98–9
increasing money circulation 88–9
recession and the money supply 92–3
recession to depression 94–5
MON I AC 114, 115
mortgage banks 72–3
Mortgage Market Review 244
mortgages 155, 157, 198, 199, 205, 212–15
buy-to -let 176
buy-to -sell 176
choosing 177
and home equity 180–81
interest rates 122
Islamic 213
mortgage rates 214–15
sub-prime 92, 215
types of 212–13
UK 244–5
MSCI EAFE 169
MTS 232
multi-sector funds 168
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