Managed Account
What is a managed account and what are the benefits of using one When it comes to investing, there are a lot of different approaches that individuals can take. Some people choose to go it alone, researching investments and making decisions about where to allocate their resources. Others entrust their money to a financial advisor or stockbroker. However, there is...
Man-Year
What is 'Man-Year' A method of describing the amount of work done by an individual throughout the entire year. The man-year takes the amount of hours worked by an individual during the week and multiplies it by 52 (or the number of weeks worked in a year). The man-year calculated will be different for various industries depending...
Make-Or-Buy Decision
What is a 'Make-Or-Buy Decision' A make-or-buy decision is the act of choosing between manufacturing a product in-house or purchasing it from an external supplier. In a make-or-buy decision, the most important factors to consider are part of quantitative analysis, such as the associated costs of production and whether the business has the capacity to produce at...
Major Fraud Act Of 1988
What is 'Major Fraud Act Of 1988' A piece of legislation passed during the Reagan administration that modified and strengthened previous fraud legislation. Among the many changes, the Major Fraud Act of 1988 increased the maximum penalties for fraud, added protection for employees who assist the prosecution of fraud cases and introduced mandatory annual reports on fraud...
Mandatory Redemption Schedule
What is 'Mandatory Redemption Schedule' Specified dates when a bond issuer is required to redeem all or a portion of the outstanding issues of a bond prior to its maturity. The issuer might be required to redeem all or a portion of the bonds according to the call or prepayment provisions of the of the bond contract....
Maintenance Expenses
What is 'Maintenance Expenses' The costs incurred to keep an item in good condition and/or good working order. When purchasing an item that requires upkeep, consumers should consider not just the initial price tag, but also the item's ongoing maintenance expenses. Maintenance expenses are a major reason why home ownership can be more expensive than renting, for...
Macroeconomic Swap
What is 'Macroeconomic Swap' A type of derivative designed to help companies whose revenues are closely correlated with business cycles to reduce their business-cycle risk. In a macroeconomic swap, also called a macro swap, a variable stream of payments based on a macroeconomic indicator is exchanged for a fixed stream of payments. The exchange occurs between an...
Madeira Escudo
What is 'Madeira Escudo' The former currency of Madeira, an island off the coast of Portugal. The Madeira escudo was used as Madeira's currency until it adopted the euro along with Portugal on January 1, 2002. Madeira belongs to Portugal, but has been an autonomous region since 1976, meaning that it has its own government and legislature...
Make To Assemble (MTA)
What is 'Make To Assemble - MTA' A manufacturing production strategy where a company stocks the basic components of a product based on demand forecasts, but does not assemble them until the customer places an order. This allows for order customization. MTA production is basically a hybrid of two other major types of manufacturing production strategies: make...
Master Limited Partnership
What is a Master Limited Partnership A master limited partnership (MLP) is a type of business partnership that is publicly traded on a stock exchange. MLPs are popular with investors because they offer the high yields of a traditional partnership with the liquidity of a publicly traded security. MLPs are typically organized as partnerships or limited liability companies, and they...