Managing partner is both a member and manager of an LLC. LLC is legally distinct from owners, protecting personal assets. Business can have multiple managing partners sharing responsibilities
Paid-in capital represents total cash received for company stock issues. Appears in shareholders' equity section of balance sheet. Includes par value plus amounts paid in excess of par
Payback period measures time needed to recover investment costs. Shorter payback periods indicate more attractive investments. Calculated by dividing investment cost by average annual cash flow
Unlevered beta measures market risk without considering debt effects. Beta measures stock volatility relative to market index. Beta of 1 indicates stock risk equals market risk
REITs are companies that own and manage income-producing real estate. Created in 1960 to make real estate investing accessible to smaller investors. REITs own over $4 trillion in commercial real estate as of 2024
Share means dividing something into pieces or distributing a portion. Word originates from Proto-Indo-European "sker" meaning "to cut"