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Gregory is telling Molly a joke when she suddenly stops him and tells him that she told him that same joke last week. In this example, Gregory
Call Option
The right to buy an asset at a specified exercise price on or before a specified expiration date.
Nonsystematic Variance
The portion of an investment's variance that is attributable to factors specific to its issuer and can be eliminated through diversification.
Market Index
A statistical measure reflecting the composite value of a selection of stocks, representing a specific market or a portion of it, used as a benchmark.
Active Portfolio
An investment portfolio that is managed with the intent to outperform the market through selecting and trading securities.
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