Download Anatomy of the Bear: Lessons from Wall Street's four great by Russell Napier PDF

By Russell Napier

How does one spot the ground of a undergo industry? What brings a endure to its end?

There are few extra very important inquiries to be replied in smooth finance. monetary marketplace historical past is a consultant to figuring out the longer term. the 4 events whilst US equities have been rather reasonable - 1921, 1932, 1949 and 1982 - Russell Napier units out to reply to those questions through analysing each article within the Wall highway magazine from both sides of the marketplace bottom.

In the 70,000 articles he examines, one starts off to appreciate the positive aspects which point out nice paying for chance is emerging.

By taking a look at how markets particularly did paintings in those bear-market bottoms, instead of theorising how they need to paintings, Napier deals traders a monetary box advisor to creating the simplest provisions for the future.

This new version contains a fresh preface from the writer and a foreword through Merryn Somerset Webb.

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DE Anrechnungssystem FR système d'imputation 191 incidence of tax the amount of tax to which a taxpayer is liable RU налоговое бремя результат воздействия налога на налогоплательщика DE Steuerumfang FR montant de l'imposition 192 Income Tax Acts / in the UK, all enactments relating to income tax, including any provisions of the Corporation Tax Acts which govern income tax 190 imputation system RU Акты о подоходном налоге a system of taxation concerning corporate income tax, under which at least part of the tax paid by a company on its profits is credited against the tax liability of shareholders In receipt of income distributions paid by the company out of those profits, thereby eliminating or reducing double taxation of distributed profits.

The date when particular legislation comes into force, or ceases to apply RU официальный срок дата, обозначенная финасовой администрацией для каких­либо целей DE festgesetzter Tag FR date de mise en vigueur 144 approved local enterprise agency in the UK, a body approved by the Secretary of State having as its sole objective the promotion or encouragement of industrial and commercial activity or enterprise in a particular area, in particular the formation and development of small businesses, contributions to which are generally deductible for income and corporation tax purposes where paid by persons carrying on a trade or business RU местное предпринимательское агентство в Великобритании, одобренная Государственным секретарем организация, единственная цель которой ­ пропаганда и стимулирование промышленного 36 и торгового предпринимательства, в частности, мелких предприятий DE genehmigte örtliche Unternehmensagentur arrears of taxes See 226 145 Art Advisory Panel; Art Print Panel in the US, a panel of experts employed by the Internal Revenue Service which meets periodically to assign values to particular works of art for the purposes of federal income, estate and gift taxes RU Совет по оценке произведений искусства совет экспертов, работающий на налоговую администрацию США.

DE Steueranpassungen FR ajustements fiscaux FR indicateur de capacité fiscale 102 tax code a codified compilation of laws, decrees and statutes providing for the incidence of taxation and collection of taxes for the benefit of central or local governments RU налоговый кодекс кодифицированная компиляция законов, положений и инструкций по расчету и сбору налогов DE Steuergesetze tax base See 119 24 FR code général des impôts; CGI 103 tax compliance the cooperation of taxpayers in fulfilling their statutory duty to declare their income for the computation of taxes, and to pay the tax due at the proper timé RU соблюдение налоговых обязательств выполнение налогоплательщиком своих обязанностей по декларированию доходов и уплате налога в установленный срок DE Steuereinverständnis FR observation fiscale 104 tax confidentiality; tax secrecy an obligation usually imposed on tax officials not to reveal particulars of taxpayers' affairs to third parties see: disclosure RU налоговая конфиденциальность налагаемое на представителей налоговых властей обязательство не распространять данные о положении или налоговом статусе налогоплательщиков DE Steuervertraulichkeit FR confidentialité en matière fiscale компании путем снижения налоговых ставок или расширения диапазонов налоооблагаемой прибыли DE Steuersenkungen FR dégrèvements fiscaux tax equality See 42 106 tax equalization agreement a form of tax indemnity agreement between an employer and an employee whereby the employer agrees to maintain an employee's salary net of tax when he is seconded to work in another country and, as a result, may be liable to higher taxes see: tax indemnity RU договор о выравнивании налога договор между работодателем и служащим, по которому работодатель обязуется поддерживать неизменной сумму чистого дохода служащего (рассчитанного после уплаты налогов), в том случае, если служащему вменяется в обязанность работа в другой стране, где подоходный налог может быть выше DE Steuergleichsetzungsvereln­ barung FR accord d'égalisation des impôts 105 tax cuts reductions in the burden of taxation, either generally or in relation to a particular tax, for example reductions in the rate of tax payable or the widening of tax bands RU налоговое сокращение; сокращение налога 107 tax guide a publication intended to assist specialist and non­specialist persons in calculating and understanding taxation matters RU руководство по уплате налогов снижение налогового бремени индивидуальных налогоплательщиков или 25 издание, разъясняющее процедуру расчета, порядок, сроки и общие правила уплаты налогов DE Steuerführer или воспрещать определенные виды индивидуальной или коммерческой деятельности DE Steuerhemmnis FR obstacle fiscal; entrave fiscale FR guide fiscal 108 tax indemnity a contractual agreement made between two or more parties, whereby one party agrees to indemnify or reimburse the other party for taxation liabilities incurred, or incurred in excess of a stated amount, in relation to a particular transaction see: tax equalization agreement RU возмещение налоговых обязательств контрактное соглашение между двумя или более лицами, по которому одно из лиц обязуется возместить другому налоговые выплаты (или их часть, свыше установленной суммы) в связи с конкретным объектом налогообложения 110 tax of apportionment a tax applied when an income or gain is divided between taxpayers and each portion is taxed separately RU распределенный налог применяется в случае, если доход или прибыль распределяются между несколькими налогоплательщиками и налогообложению подлежит каждая распределяемая часть DE Zuteilungssteuer FR impôt de répartition des bases tax outstanding See 113 DE Steuerfreistellung 111 tax rate tax law See 47 a rate of tax applied to a taxable base in order to assess tax liability, either as a fixed percentage or on a sliding scale RU налоговая ставка tax neutrality See 49 109 tax obstacle a means by which a state or government may impede, inhibit or prevent individual or commercial activity within its borders by the imposition of taxes RU налоговые препятствия средства, используя которые государство может ограничивать 26 процент (по прогрессивной, фиксированной, или регрессивнойй шкале) или фиксированная сумма, взимаемые в виде налога на основе расчета, произведенного по определенным правилам или с учетом специальных коэффициентов DE Steuersatz FR taux d'imposition; taux d'impôt 112 tax ratio 115 tax system; tax regime the relationship between the total tax yield of a country and its gross national product or income the law and practice relating to taxation in a particular country or group of countries RU коэффициент налогообложения RU налоговая система; налоговый режим коэффициент, рассчитанный как отношение суммы налогов, поступивших в бюджет страны, к ее валовому национальному продукту или национальному доходу DE Steuerverhältnis совокупность законов и практических норм, регулирующих порядок налогообложения в определенной стране DE Steuersystem FR régime fiscal; système fiscal FR pression fiscale 113 tax receivable; tax outstanding an amount of tax due but unpaid or not collected RU налог к оплате налог, подлежащий оплате DE Steueraußenstände FR impôt à percevoir; impôt exigible 116 tax table a table used to compute the amount of a specific tax due RU налоговая таблица; налоговый реестр специальный перечень или список, специфицирующий ставки налогов в соответствии с типами доходов.

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