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Vishal Garg (businessman)
Vishal Garg (born 1977 or 1978) is an Indian-American entrepreneur. He is the chief executive officer of mortgage lending company Better.com and previously co-founded the student loan company MyRichUncle. Early life and education Born in India, Garg moved to the Queens borough of New York City when he was seven, and grew up in Forest Hills. While attending the academic magnet Stuyvesant High School in Manhattan, he resold books, CliffsNotes study guides, and thrift store clothes at a profit. Beginning in 1995 he studied finance and international business in the Stern School of Business at New York University while working as a runner and entry clerk for Salomon Brothers and as a trader for VZB Partners, a hedge fund. After graduation, he worked for a short time for Morgan Stanley. Career MyRichUncle With Raza Khan, a fellow Indian immigrant whom he met in high school and who studied computer science in the same class at New York University, Garg founded a mortgage invest ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Vishal Garg 2021
Vishal may refer to: People * Vishal (name), a common Indian given name * King Vishal, emperor of the Mahabharata era who founded the ancient city of Vishalapura * Vishal (actor) (born 1977), Indian film actor, producer and anti-piracy activist * Vishal–Shekhar, Indian musical duo consisting of Vishal Dadlani and Shekhar Ravjiani Buildings and places * De Vishal, a historical building and gallery in Haarlem, the Netherlands. * Vishalgad, fort of Shivaji in Maharashtra * Vishal Badri, synonym of the Badrinath temple in Uttarakhand's Himalaya Politics * Vishal Haryana Party, a former political party *Vishal Sangh, a former trade union in Fiji Other uses * INS ''Vishal'' (IAC-II), aircraft carrier of Indian Navy * Vishal Film Factory Vishal Film Factory is an Indian film production, distribution and music company established by actor Vishal in 2013. Based in Chennai, it mainly produces and distributes Tamil Tamil may refer to: * Tamils, an ethnic group ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Hedge Fund
A hedge fund is a pooled investment fund that trades in relatively liquid assets and is able to make extensive use of more complex trading, portfolio-construction, and risk management techniques in an attempt to improve performance, such as short selling, leverage, and derivatives. Financial regulators generally restrict hedge fund marketing to institutional investors, high net worth individuals, and accredited investors. Hedge funds are considered alternative investments. Their ability to use leverage and more complex investment techniques distinguishes them from regulated investment funds available to the retail market, commonly known as mutual funds and ETFs. They are also considered distinct from private equity funds and other similar closed-end funds as hedge funds generally invest in relatively liquid assets and are usually open-ended. This means they typically allow investors to invest and withdraw capital periodically based on the fund's net asset value, whereas pr ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Proprietary Software
Proprietary software is software that is deemed within the free and open-source software to be non-free because its creator, publisher, or other rightsholder or rightsholder partner exercises a legal monopoly afforded by modern copyright and intellectual property law to exclude the recipient from freely sharing the software or modifying it, and—in some cases, as is the case with some patent-encumbered and EULA-bound software—from making use of the software on their own, thereby restricting his or her freedoms. It is often contrasted with open-source or free software. For this reason, it is also known as non-free software or closed-source software. Types Origin Until the late 1960s computers—large and expensive mainframe computers, machines in specially air-conditioned computer rooms—were usually leased to customers rather than sold. Service and all software available were usually supplied by manufacturers without separate charge until 1969. Computer vendors ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
US Dollar
The United States dollar (symbol: $; code: USD; also abbreviated US$ or U.S. Dollar, to distinguish it from other dollar-denominated currencies; referred to as the dollar, U.S. dollar, American dollar, or colloquially buck) is the official currency of the United States and several other countries. The Coinage Act of 1792 introduced the U.S. dollar at par with the Spanish silver dollar, divided it into 100 cents, and authorized the minting of coins denominated in dollars and cents. U.S. banknotes are issued in the form of Federal Reserve Notes, popularly called greenbacks due to their predominantly green color. The monetary policy of the United States is conducted by the Federal Reserve System, which acts as the nation's central bank. The U.S. dollar was originally defined under a bimetallic standard of (0.7735 troy ounces) fine silver or, from 1837, fine gold, or $20.67 per troy ounce. The Gold Standard Act of 1900 linked the dollar solely to gold. From 1934, its equi ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Equity (finance)
In finance, equity is ownership of assets that may have debts or other liabilities attached to them. Equity is measured for accounting purposes by subtracting liabilities from the value of the assets. For example, if someone owns a car worth $24,000 and owes $10,000 on the loan used to buy the car, the difference of $14,000 is equity. Equity can apply to a single asset, such as a car or house, or to an entire business. A business that needs to start up or expand its operations can sell its equity in order to raise cash that does not have to be repaid on a set schedule. In government finance or other non-profit settings, equity is known as "net position" or "net assets". Origins The term "equity" describes this type of ownership in English because it was regulated through the system of equity law that developed in England during the Late Middle Ages to meet the growing demands of commercial activity. While the older common law courts dealt with questions of property title, equi ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
The Daily Beast
''The Daily Beast'' is an American news website focused on politics, media, and pop culture. It was founded in 2008. It has been characterized as a "high-end tabloid" by Noah Shachtman, the site's editor-in-chief from 2018 to 2021. In a 2015 interview, former editor-in-chief John Avlon described the ''Beast''s editorial approach: "We seek out scoops, scandals, and stories about secret worlds; we love confronting bullies, bigots, and hypocrites." In 2018, Avlon described the ''Beast''s "strike zone" as "politics, pop culture, and power". History ''The Daily Beast'' began publishing on October 6, 2008. Its founding editor was Tina Brown, a former editor of ''Vanity Fair'' and ''The New Yorker'' as well as the short-lived ''Talk'' magazine. The name of the site was taken from a fictional newspaper in Evelyn Waugh's novel ''Scoop''. In 2010, ''The Daily Beast'' merged with the magazine ''Newsweek'' creating a combined company, The Newsweek Daily Beast Company. The merger en ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Venture Capital
Venture capital (often abbreviated as VC) is a form of private equity financing that is provided by venture capital firms or funds to startups, early-stage, and emerging companies that have been deemed to have high growth potential or which have demonstrated high growth (in terms of number of employees, annual revenue, scale of operations, etc). Venture capital firms or funds invest in these early-stage companies in exchange for equity, or an ownership stake. Venture capitalists take on the risk of financing risky start-ups in the hopes that some of the firms they support will become successful. Because startups face high uncertainty, VC investments have high rates of failure. The start-ups are usually based on an innovative technology or business model and they are usually from high technology industries, such as information technology (IT), clean technology or biotechnology. The typical venture capital investment occurs after an initial "seed funding" round. The first ro ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Mortgage Broker
A mortgage broker acts as an intermediary who brokers mortgage loans on behalf of individuals or businesses. Traditionally, banks and other lending institutions have sold their own products. As markets for mortgages have become more competitive, however, the role of the mortgage broker has become more popular. In many developed mortgage markets today, (especially in the United States, Canada, the United Kingdom, Australia, New Zealand, and Spain), mortgage brokers are the largest sellers of mortgage products for lenders. Mortgage brokers exist to find a bank or a direct lender that will be willing to make a specific loan an individual is seeking. Mortgage brokers in Canada are paid by the lender and do not charge fees for good credit applications. In the US, many mortgage brokers are regulated by their state and by the CFPB to assure compliance with banking and finance laws in the jurisdiction of the consumer. The extent of the regulation depends on the jurisdiction. Duties of ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Asset Recovery
Asset recovery, also known as investment or resource recovery, is the process of maximizing the value of unused or end-of-life assets through effective reuse or divestment. While sometimes referred to in the context of a company undergoing liquidation, Asset recovery also can describe the process of liquidating excess inventory, refurbished items, and equipment returned at the end of a lease. Asset recovery can also refer to the task of recovery of assets that have been wrongfully taken either stolen, fraudulently misappropriated or otherwise disposed of to remove them from their rightful owner. Asset recovery has three main elements—identification, redeployment, and divestment. Specialized asset recovery software may assist any of these steps. Identification Because unproductive assets cost money, it is important to classify them as such by investment recovery personnel. Later, a decision can be made whether to redeploy or divest. Surplus assets could be in any form, in ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Asset-backed Securities
An asset-backed security (ABS) is a security whose income payments, and hence value, are derived from and collateralized (or "backed") by a specified pool of underlying assets. The pool of assets is typically a group of small and illiquid assets which are unable to be sold individually. Pooling the assets into financial instruments allows them to be sold to general investors, a process called securitization, and allows the risk of investing in the underlying assets to be diversified because each security will represent a fraction of the total value of the diverse pool of underlying assets. The pools of underlying assets can include common payments from credit cards, auto loans, and mortgage loans, to esoteric cash flows from aircraft leases, royalty payments, or movie revenues. Often a separate institution, called a special purpose vehicle, is created to handle the securitization of asset backed securities. The special purpose vehicle, which creates and sells the securities, ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Chapter 7 Bankruptcy
Chapter 7 of Title 11 of the United States Code (Bankruptcy Code) governs the process of liquidation under the bankruptcy laws of the United States, in contrast to Chapters 11 and 13, which govern the process of ''reorganization'' of a debtor. Chapter 7 is the most common form of bankruptcy in the United States. For businesses When a troubled business is unable to pay its creditors, it may file (or be forced by its creditors to file) for bankruptcy in a federal court under Chapter 7. A Chapter 7 filing means that the business ceases operations unless those operations are continued by the Chapter 7 trustee. A Chapter 7 trustee is appointed almost immediately, with broad powers to examine the business's financial affairs. The trustee generally liquidates the assets and distributes the proceeds to the creditors. This may or may not mean that all employees will lose their jobs. When a large company enters Chapter 7 bankruptcy, entire divisions of the company may be sold intact to ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Subprime Mortgage Crisis
The United States subprime mortgage crisis was a multinational financial crisis that occurred between 2007 and 2010 that contributed to the Financial crisis of 2007–2008, 2007–2008 global financial crisis. It was triggered by a large decline in US home prices after the collapse of a 2000s United States housing bubble, housing bubble, leading to Mortgage loan, mortgage delinquencies, foreclosures, and the devaluation of Mortgage-backed security, housing-related securities. Declines in residential investment preceded the Great Recession and were followed by reductions in household spending and then business investment. Spending reductions were more significant in areas with a combination of high household debt and larger housing price declines. The housing bubble preceding the crisis was financed with Mortgage-backed security, mortgage-backed securities (MBSes) and collateralized debt obligations (CDOs), which initially offered higher interest rates (i.e. better returns) than go ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
