Why can a foreign investment rise locally but fall in your home currency?
A currency-unit worksheet combines an invented local investment return with an explicitly quoted exchange-rate change.
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Market mechanics
Explore bid and ask prices, order limits, fund net asset value, currency translation and market capitalization.
Does a lower share price mean a company is smaller or cheaper?
A fictional comparison uses shares outstanding and a mechanical split example to separate per-share price, equity market value, and valuation judgment.
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What does the bid-ask spread cost, and what does a limit order control?
Separate a hypothetical quote-spread calculation from execution uncertainty and the price boundary of a limit order.
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Why can an ETF trade above or below its net asset value?
Calculate an invented fund’s NAV and a matched-time premium, then identify why a closing NAV and an intraday quote are not interchangeable.
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What is the difference between a trade date and a settlement date?
A conditional U.S. T+1 calendar and cash ledger distinguish execution from delivery and avoid treating a business day as 24 hours.
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Does receiving a cash dividend automatically create extra shareholder wealth?
Trace a hypothetical cash distribution through the company balance sheet and a shareholder’s price-plus-cash position without predicting an ex-date price.
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Why can tracking difference be small while tracking error is noticeable?
Separate a full-window return gap from the variability of period-by-period active returns using an auditable four-period example.
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