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"Answer: the cash and other short-term assets line.
Even short-term assets may fluctuate as interest rates change, even if the moves are very small.
By law, money funds can buy only top-quality, short-term assets like overnight bank notes or Treasury bills.
Chinese liquidity conditions were tight, pushing up interbank rates and creating plenty of short-term assets with juicy yields.
Money funds must hold only highly rated, short-term assets, but government securities are exempt from the requirement.
"Employees are not viewed as long-term investments; they're viewed as short-term assets that can be bought and sold," Mr. Albrecht said.
Similar(10)
Activists are seen as short-term asset-strippers trying to make a quick return.
Fama was hailed for his pioneering work into the field, beginning with his work on short-term asset price changes.
"What has been thought of as a short-term asset can be a long-term problem," said Jonathan Katz, the chief executive of the National Assembly of State Arts Agencies.
Investors can put their wealth into a short-term asset - say, dollar treasury bills - that yields a known rate of return r.
Then all the intermediary needs to do is put a fraction p of the funds it receives into the short-term asset, 1-p into the long-term asset; then each investor will expect to receive 1+r if he consumes in period 2, (1+h)2 if he consumes in 3 - dominating the range of possibilities available without the intermediary.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com