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Appreciation: When real estate appreciates, it has accrued value. Rarely, however, do timeshare properties appreciate. Since the value of a vacation property fluctuates depending on the time of year, it i . . . View Full Definition

Shared Appreciation Mortgage (SAM): A mortgage with a low rate of interest, offset by giving the lender some portion of the appreciation in the value of the underlying property.

Capital Appreciation: Any increase in a capital asset's fair market value is called capital appreciation. For example, if a stock increases in value from $30 a share to $60 a share, it shows capital appreciation. . . . View Full Definition

Employee Stock Option Appreciation Rights Securities (ESOARS): An auction process to assign a value to the options. The high bidder owns the option and receives a payment from the company for the ESOARS when the employee exercises the option.

Shared-Appreciation Mortgage (SAM): A mortgage loan in which the lender, in exchange for a loan with a favorable interest rate, participates in the profits (if any) the borrower receives when the property is eventually sold.

Price Compression: The limitation of the price appreciation potential for a callable bond in a declining interest rate environment, based on the expectation that the bond will be redeemed at the call price.

Positive Convexity: A property of option-free bonds that the price appreciation for a large downward change in interest rates will be greater (in absolute terms) than the price depreciation for the same downwar . . . View Full Definition

Overperform: To appreciate at a rate faster than appreciation of the overall market.

Prime: To make ready. The preparatory coating.

New Objectivity: Is an approach to the subject matter of photography originating in germany in the 1920s. The photographer remains an impartial observer, intensifying the appreciation of forms and structures . . . View Full Definition