Liquidity

How quickly and cheaply an asset can be traded in size without moving its price. Tight spreads and deep order books signal high liquidity; illiquidity is a return premium and a risk in stress.

Where Liquidity comes up

The IPO Process, End to EndAn initial public offering is a financing, a governance change and a marketing exercise happening at once, and the price is decided in the last forty-eight hours.Read the guide — 11 min Building an Investment ThesisA thesis is not a description of a company. It is a claim about where consensus is wrong, and what will make that visible.Read the guide — 11 min How to Build and Pitch a ShortEverything about a short is asymmetric: the payoff, the time pressure, the cost of being early. Funds ask for one because it is where sloppy thinking shows.Read the guide — 10 min

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Related Trading & Markets terms

VaR (Value at Risk)Carry Trade Duration Derivatives Hedging Buy Ticket / Sell Ticket (Long / Short)

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