In United States tax law, a section 475(f) fund is a hedge fund that elects to mark to market all its unrealized gains and losses, as allowed by the provisions of section 475(f) of the Internal Revenue Code. This can lead to a much faster recognition of gain, but also lessens the tax fees due to the high cost of performing the appropriate analysis for a non-475 fund.
A 130–30 fund or a ratio up to 150/50 is a type of collective investment vehicle, often a type of specialty mutual fund, but which allows the fund manager simultaneously to hold both long and short positions on different equities in the fund. Traditionally, mutual funds were long-only investments. 130–30 funds are a fast-growing segment of the financial industry; they should be available both as traditional mutual funds, and as exchange-traded funds (ETFs). While this type of investment has existed for a while in the hedge fund industry, its availability for retail investors is relatively new.
A 130–30 fund is considered a long-short equity fund, meaning it goes both long and short at the same time. The "130" portion stands for 130% exposure to its long portfolio and the "30" portion stands for 30% exposure to its short portfolio. The structure usually ranges from 120–20 up to 150–50 with 130–30 being the most popular and is limited to 150/50 because of Reg T limiting the short side to 50%.
In armed conflict and in daily life, ships have become an integral part of modern commercial and military systems. Fishing boats are used by millions of fishermen throughout the world. Military forces operate vessels for naval warfare and to transport and support forces ashore. Commercial vessels, nearly 35,000 in number, carried 7.4billion tons of cargo in 2007. As of 2011, there are about 104,304 ships with IMO numbers in the world.
Ships were always a key in history's great explorations and scientific and technological development. Navigators such as Zheng He spread such inventions as the compass and gunpowder. Ships have been used for such purposes as colonization and the slave trade, and have served scientific, cultural, and humanitarian needs. After the 16th century, new crops that had come from and to the Americas via the European seafarers significantly contributed to the world population growth.Ship transport has shaped the world's economy into today's energy-intensive pattern.
Ship's A.I. was created untold millennia ago by the Celestials as the operating system for a data collection device. The Celestials had genetically manipulated humanity, and they left the Ship in the area that would come to be known as Mongolia to monitor humanity's progress.
Circa 1100 A.D., a Mongolian immortal known as Garbha-Hsien (later known as Saul), discovered the Ship and lived next to it while he researched its mysteries. Saul never attempted to enter the Ship.
In time, the Egyptian immortal En Sabah Nur learned of Saul and sought him out as another immortal. In a confrontation, En Sabah Nur slew all of Saul's guards. Saul then sought to humble his fellow "forever-walker" by revealing the secret titanic vessel. Having had previous experience with futuristic technology due to his encounters with Rama-Tut, Nur attacked Saul and left the other immortal for dead and entered the Ship. He emerged later as a vastly changed being who now called himself Apocalypse.