全力少年

Leverage (finance)

In finance, leverage or leveraging refers to the use of debt to supplement investment.^[1] Companies usually leverage to increase returns to stock, as this practice can maximize gains (and losses). The easy but high-risk increases in stock prices due to leveraging at US banks has been blamed for the unusually high rate of pay for top executives during the recent banking crisis, since gains in stock are often rewarded regardless of method.^[2] Delevering is the action of reducing borrowings.^[1] In macroeconomics, a key measure of leverage is the debt to GDP ratio.


Credit default swap

A credit default swap (CDS) is a swap contract in which the buyer of the CDS makes a series of payments to the seller and, in exchange, receives a payoff if a credit instrument (typically a bond or loan) goes into default (fails to pay). Less commonly, the credit event that triggers the payoff can be a company undergoing restructuring, bankruptcy, or even just having its credit rating downgraded.

CDS contracts have been compared with insurance, because the buyer pays a premium and, in return, receives a sum of money if one of the events specified in the contract occurs. However, there are a number of differences between CDS and insurance, for example:

• The buyer of a CDS does not need to own the underlying security or other form of credit exposure; in fact the buyer does not even have to suffer a loss from the default event.^[1][2][3][4] In contrast, to purchase insurance, the insured is generally expected to have an insurable interest such as owning a debt obligation;
• the seller need not be a regulated entity;
• the seller is not required to maintain any reserves to pay off buyers, although major CDS dealers are subject to bank capital requirements;
• insurers manage risk primarily by setting loss reserves based on the Law of large numbers, while dealers in CDS manage risk primarily by means of offsetting CDS (hedging) with other dealers and transactions in underlying bond markets;
• in the United States CDS contracts are generally subject to mark to market accounting, introducing income statement and balance sheet volatility that would not be present in an insurance contract;
• Hedge Accounting may not be available under US Generally Accepted Accounting Principles (GAAP) unless the requirements of FAS 133 are met. In practice this rarely happens.

Léon Walras



Marie-Esprit-Léon Walras (December 16, 1834 in Évreux, France - January 5, 1910 in Clarens, near Montreux, Switzerland) was a French economist, considered by Joseph Schumpeter as "the greatest of all economists". He was a mathematical economist associated with the creation of the general equilibrium theory.


Wolfgang Amadeus Mozart

Wolfgang Amadeus Mozart (German: [ˈvɔlfɡaŋ amaˈdeus ˈmoːtsart], full baptismal name Johannes Chrysostomus Wolfgangus Theophilus Mozart^[1] (27 January 1756 – 5 December 1791), was a prolific and influential composer of the Classical era. He composed over six hundred works, many acknowledged as pinnacles of symphonic, concertante, chamber, piano, operatic, and choral music. He is among the most enduringly popular of classical composers.

Mozart showed prodigious ability from his earliest childhood in Salzburg. Already competent on keyboard and violin, he composed from the age of five and performed before European royalty; at seventeen he was engaged as a court musician in Salzburg, but grew restless and traveled in search of a better position, always composing abundantly. Visiting Vienna in 1781 he was dismissed from his Salzburg position and chose to stay in the capital, where over the rest of his life he achieved fame but little financial security. The final years in Vienna yielded many of his best-known symphonies, concertos, and operas, and the Requiem. The circumstances of his early death have been much mythologized. He was survived by his wife Constanze and two sons.

Mozart always learned voraciously from others, and developed a brilliance and maturity of style that encompassed the light and graceful along with the dark and passionate—the whole informed by a vision of humanity "redeemed through art, forgiven, and reconciled with nature and the absolute".^[2] His influence on all subsequent Western art music is profound. Beethoven wrote his own early compositions in the shadow of Mozart, of whom Joseph Haydn wrote that "posterity will not see such a talent again in 100 years".^[3]

Willem Barentsz

Willem Barentsz (anglicized as William Barents or Barentz) (c. 1550 – 20 June 1597) was a Dutch navigator and explorer, a leader of early expeditions to the far north.

The Barents Sea, Barentsburg and Barents Region were all named after him.

Willem Barentsz was born around the year 1550 on the island Terschelling in the Seventeen Provinces.^[1]

A cartographer by trade, Barentsz sailed to Spain and the Mediterranean to complete an atlas of the Mediterranean region,^[2] which he co-published with Petrus Plancius.^[1]

His career as an explorer was spent searching for the Northeast passage, which he reasoned must exist as clear, open water north of Siberia since the sun shone 24 hours a day, which he believed would have melted any potential ice.^[3]



Alessandro Del Piero

Alessandro Del Piero, Cavaliere Ufficiale OMRI^[3][4] (born November 9, 1974 in Conegliano Veneto) is an Italian World Cup-winning footballer who plays for Serie A club Juventus.

Del Piero was named in the FIFA 100, a list of the 125 greatest living footballers selected by Pelé as a part of FIFA's centenary celebrations. Brazilian star Ronaldinho proclaimed that Del Piero is his idol.^[5] Del Piero was also voted in the list of best European players for the past 50 years in the UEFA Golden Jubilee Poll. In the year 2000, Del Piero was the world's best-paid football player from salary, bonuses and advertising revenue.^[6] Currently, Del Piero is still the highest earning Italian Player.^[7]

Along with three awards in Italy for gentlemanly conduct^[8][9] he has also won the Golden Foot award, which pertains to personality and playing ability.^[10]

Del Piero usually plays as a supporting-striker and occasionally between the midfield and the strikers, known in Italy as the "trequartista" position. Although he is not very tall, Del Piero's playing style is regarded by critics as creative in attacking, assisting many goals as well as scoring himself, as opposed to just "goal poaching."^[11] His free-kick and penalty taking is also highly regarded.^[12] Del Piero has become famous over the years for scoring from a special "Del Piero Zone", approaching from the left flank and curling a precise lob into the far top corner of the goal.^[13]

In terms of goalscoring, Del Piero holds the all-time record at Juventus.^[14] On April 6, 2008, Alessandro Del Piero became the all-time highest-capped Juventus player, ahead of Juve legend Gaetano Scirea. He is in sixth place in the UEFA Champions League all-time goalscorer records.^[15] Within the Italian national team, he is currently joint fourth with Roberto Baggio in the all-time scoring records.



역시 사람은 하던 짓을 해야 -_-