Perfected first lien

Definition:

A first attachment on an asset that is duly recorded with the relevant government body so that the lender will be able to act on it should the borrower default.

Investing Essentials


Copyright © 2011 Campbell R. Harvey, Professor of Finance, Fuqua School of Business at Duke University

Term of the Day

Mutual fund theorem

A result associated with the CAPM, asserting that investors will choose to invest their entire risky portfolio in a market-index or mutual fund.

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