Investment research glossary. Plain definitions.
Short, plain explanations of the ideas behind compounding market intelligence. Each entry starts with a definition, then shows how it works, an example, and where it appears in Clargus.
Terms
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Alpha capture
Alpha capture is a system in which an investment firm collects trade ideas from outside contributors, records each idea at the moment it is submitted, and tracks how it performs. Over time the firm learns whose ideas work, and rewards and follows those contributors.
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Financial knowledge graph
A financial knowledge graph is a database that stores companies, people, products, regulators, events and filings as connected entities, with the relationships between them, such as supplier, customer, lender or subsidiary, stored as links. Because the links are explicit, software can follow a change from one company to the others it affects.
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Investment thesis
An investment thesis is a short, testable argument for why an investment should work: what you expect to happen, why it is not already in the price, what would prove you wrong, and over what time frame. Thesis monitoring is the ongoing work of checking that argument against new evidence.
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Second-order effects (investing)
In investing, a second-order effect is the indirect consequence of an event: the impact on the suppliers, customers, lenders, competitors and regions connected to the company in the news, rather than on that company itself. A third-order effect goes one connection further.
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