Quality of earnings
Increased earnings due to increased sales and cost controls, as compared to artificial profits created by inflation of inventory or other asset prices.
Limited warranty
A warranty with certain conditions and limitations on the parts covered, type of damage covered, and/or time period for which the agreement is good.
Quantitative analysis
An analysis of the mathematically measurable figures of a company, such as the value of assets or projected sales.
Mark Berch:Sallie Mae
See: Student Loan Marketing Association
Mortgage-backed securities (MSBs)
Securities backed by a pool of mortgageloans.
Separation property
The property that portfolio choice can be divided into two independent tasks: (1) Determination of the optimal riskyportfolio, which is a purely mathematical problem, and (2) the personal choice of the best mix of the optimal risky portfolio and the risk-free asset, which depends on a person's degree of risk aversion. Mark Berch
Equitable owner
The beneficiary of a property held in a trust.
