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Hedge fund structure and fees | Finance & Capital Markets | Khan Academy

Video vocabulary

come

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US / kʌm /

UK / kʌm /

A1
  • verb
  • To arrive at a place
  • (Of mail) to be delivered
  • To move toward someone; go with someone
  • To reach a certain point or state

particular

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US / pəˈtɪkjələ(r) /

UK / pɚˈtɪkjəlɚ, pəˈtɪk- /

B2
  • adjecitve
  • One specific (one)
  • Having firm ideas about what is desirable
  • Being special or more than is typical

company

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US / 'kʌmpənɪ /

UK / ˈkʌmpəni /

A1
  • noun
  • Good feeling from being with someone else
  • A business that sells things or provides services
  • Guests, especially in your home
  • Being with another person rather than alone

accounting

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US / əˈkaʊntɪŋ /

UK / əˈkaʊntɪŋ /

A2
  • noun
  • An activity to prepare and keep financial records

leave

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US / li:v /

UK / liv /

A1
  • noun
  • Permission to do something
  • Vacation time; time off work
  • verb
  • To go away from; depart
  • To gift property to someone after you die
  • To allow something to continue happening
  • To let something remain unused or available
  • To let something or someone remain somewhere

anything

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US / ˈeniθɪŋ /

UK / ˈɛniˌθɪŋ /

A1
  • pronoun
  • A thing of any kind

guy

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US / ɡaɪ /

UK / ɡaɪ /

A1
  • noun
  • Man; boy; any person

rest

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US / rest /

UK / rɛst /

A1
  • noun
  • Time when one relaxes, sleeps, or is inactive
  • State in which there is a lack of motion
  • Part of something remaining after some was used
  • verb
  • To stop working or avoid activity to recover
  • (Of dead person) to lie in a grave
  • To lean, support or place something against
  • To not be tired because you had enough sleep

approximately

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US / əˈprɒksɪmətli /

UK / əˈprɑksəmɪtlɪ /

A2
  • adverb
  • Around; nearly; almost; about (a number)

from

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US / frəm /

UK / frʌm, frɑm,frəm /

A1
  • preposition
  • Starting at a particular place, time or level

only

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US / ˈəunli /

UK / ˈonli /

A1
  • adverb
  • Just one; just that amount or thing; not more than
  • Not very important or serious
  • Just that type of thing, person
  • Short time ago; not before a certain time
  • conjunction
  • Except; but

any

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US / 'enɪ /

UK / ˈɛni /

A1
  • adjecitve
  • One, or some, no matter which
  • pronoun
  • One (thing) of many; some

another

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US / əˈnʌðə(r) /

UK / əˈnʌðɚ /

A1
  • adjecitve
  • One more, but not this
  • determiner
  • One more added
  • pronoun
  • One more (thing)

where

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US / hwɛə /

UK / hwɛr, wɛr /

A1
  • conjunction
  • At or in the place which
  • In whatever place
  • pronoun
  • Word you use to ask the location of something

grow

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US / ɡrəʊ /

UK / ɡro /

A1
  • verb
  • To get bigger and more mature; make plants do this
  • To improve; to develop better skills over time
  • To develop and become bigger or taller over time

well

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US / wel /

UK / wɛl /

A1
  • adjecitve
  • Being in a fortunate, good condition or state
  • Healthy and in good condition
  • adverb
  • In an acceptable, proper, or successful manner
  • In a complete, total, or full manner
  • A great and considerable degree
  • In a successful way, in a good or satisfactory way
  • exclamation
  • Used to begin or continue a particular statement
  • Used to show you want to start saying something
  • Used to express that you are waiting for a reply
  • You say this to change the topic of a conversation
  • Used to indicate you are making a final remark
  • noun
  • Long deep hole in the ground to get water
  • verb
  • To cause your eyes to fill with tears

linearly

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US / ˈlɪnɪəli /

UK / ˈlɪniərli /

C2
  • adverb
  • With straight lines

just

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US / dʒʌst /

UK / dʒʌst /

A1
  • adjecitve
  • Proper or appropriate; as is deserved
  • Doing or being what is right or fair
  • Legally correct; having enough evidence
  • adverb
  • Almost; nearly
  • Exactly at the time of
  • Exactly (the same as, like)

stuff

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US / stʌf /

UK / stʌf /

A1
  • noun
  • Generic description for things, materials, objects
  • verb
  • To push material inside something, with force

decimal

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US / 'desɪml /

UK / ˈdɛsəməl /

B2
  • noun
  • Number using one equal tenth of a whole as a basis

computer

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US / kəmˈpju:tə(r) /

UK / kəmˈpjutɚ /

A1
  • noun
  • Machine for storing data, accessing the internet

structure

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US / ˈstrʌk.tʃə /

UK / ˈstrʌk.tʃɚ /

A2
  • noun
  • The way in which the parts of a system or object are arranged or organized, or a system arranged in
  • verb
  • To plan, organize, or arrange the parts of something

want

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US / wɔnt /

UK / wɑnt, wɔnt /

A1
  • noun
  • Something you desire or wish for
  • State or condition of poverty
  • verb
  • To desire or wish for something; hope for a thing

perform

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US / pə'fɔ:m /

UK / pɚˈfɔrm /

A1
  • verb
  • To carry out an action well or successfully
  • To entertain an audience by dancing, singing etc.

usually

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US / ˈju:ʒuəli /

UK / ˈjuːʒuəli /

A1
  • adverb
  • Normally; regularly

carry

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US / ˈkæri /

UK / ˈkæri /

A1
  • verb
  • To have a child, be pregnant
  • To have a disease you might give to others
  • (Of stores) to sell a particular product
  • To hold something and move it to another place
  • To travel a long distance (sound)
  • To support the weight or burden of something

business

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US / ˈbɪznəs /

UK / ˈbɪznɪs /

A1
  • noun
  • A company formed for making profit
  • Matter that has to be dealt with; task; situation
  • Activity of working to make a profit

themselves

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US / ðəmˈselvz /

UK / ðɛmˈsɛlvz, ðəm- /

A1
  • pronoun
  • Reflexive form of 'they'

can

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US / kæn /

UK / kən,kæn /

A1
  • noun
  • A metal container for storing food
  • other
  • Able to; have the skill to; have the time to
  • verb
  • To have permission to
  • To be possible to do
  • To preserve food by sealing it in a metal container

good

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US / ɡʊd /

UK / ɡʊd /

A1
  • adjecitve
  • Proper, appropriate or right
  • (Of an amount) enough; plenty
  • Excellent; high quality
  • Acting well or properly; of moral character
  • In a positive or happy emotional state
  • noun
  • Advantage or benefit

understand

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US / ˌʌndə'stænd /

UK / ˌʌndɚˈstænd /

A1
  • verb
  • To know the meaning of language, what someone says

mutual

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US / 'mju:tʃʊəl /

UK / ˈmjutʃuəl /

B1
  • adjecitve
  • Shared between two or more people
  • noun

but

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US / bət /

UK / bʌt,bət /

A1
  • conjunction
  • Used before you say something different, opposite

life

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US / laɪf /

UK / laɪf /

A1
  • noun
  • All the living things e.g. animals, plants, humans
  • Period of time things live, from birth to death

now

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US / naʊ /

UK / naʊ /

A1
  • adverb
  • At the present time or moment
  • Right away or in the next possible moment
  • Used to refer to something that just happened
  • Time between the present and a moment in the past
  • conjunction
  • Resulting from or because of something

really

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US / ˈri:əli /

UK / ˈriəˌli, ˈrili /

A1
  • adverb
  • Used to stress something that is said; definitely
  • In a true or accurate manner
  • Very

same

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US / seɪm /

UK / sem /

A1
  • adjecitve
  • Being equal in quality and amount
  • Identical; not different
  • Not changing; constant

give

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US / ɡɪv /

UK / ɡɪv /

A1
  • noun
  • Degree of flexibility in something, a material
  • verb
  • To hand over or present something to someone
  • To cause someone to have or experience something

pete

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US / pet /

UK / pɛt /

A1

fee

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US / fi: /

UK / fi /

A2
  • noun
  • Amount of money paid for a particular service

maybe

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US / ˈmeɪbi /

UK / ˈmebi /

A1
  • adverb
  • Possibly but not certainly; perhaps

would

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US / wʊd /

UK / wʊd /

A1
  • other
  • Used to indicate something imagined
  • Used to ask or request something politely
  • Verb used to indicate possibility, request etc.
  • Used to indicate a preference
  • Used to indicate a reaction
  • Indicates something that occurred repeatedly
  • Used to indicate willingness or ability to do

register

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US / 'redʒɪstə(r) /

UK / ˈrɛdʒɪstɚ /

A2
  • noun
  • Till; machine used add up things you buy
  • Range of notes of a person's (singing) voice
  • verb
  • To record your name on an official list; sign up
  • To show an amount on a measurement device
  • (Of feelings) to show or make visible

not

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US / nɒt /

UK / nɑt /

A1
  • adverb
  • Word indicating the negative
  • (Used to form the negative of verbs)

salary

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US / ˈsæləri /

UK / ˈsæləri, ˈsælri /

A2
  • noun
  • Money an employee is paid each month

all

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US / ɔ:l /

UK / ɔl /

A1
  • adverb
  • Completely; totally
  • determiner
  • Being every one of something
  • pronoun
  • 100% of something; the complete amount

set

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US / set /

UK / sɛt /

A1
  • adjecitve
  • Prepared for something; ready
  • noun
  • Complete group of something
  • Place where a television show or movie is filmed
  • Group of games in a tennis match
  • Device that receives radio or television signals
  • verb
  • To make a clock state or ring at a particular time
  • To decide upon or choose something
  • To make something ready for use (e.g. table)
  • To decide on a price for something
  • To become hard (of glue, concrete etc.)
  • To be located in a specific place or time
  • To put (e.g. a vase) down carefully in a place
  • To put someone in a certain condition or state
  • (Of the sun) to go lower than the horizon

time

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US / taɪm /

UK / taɪm /

A1
  • noun
  • Speed at which music is played; tempo
  • Point as shown on a clock, e.g. 3 p.m
  • Number of hours, minutes needed to do something
  • Occasion when something happens
  • Period or occasion that something occurred
  • Period in history or the past
  • Something measured in minutes, hours, days, etc.
  • How long an event takes; duration
  • verb
  • To check speed at which music is performed
  • To choose a specific moment to do something
  • To measure how long an event takes, e.g. a race
  • To schedule something to occur at a specific moment

basis

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US / ˈbeɪsɪs /

UK / ˈbesɪs /

A2
  • noun
  • Main ingredient or part of something
  • Starting situation, fact, idea to develop from

for

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US / fə(r) /

UK / fɔr,fə /

A1
  • preposition
  • Used to show the purpose, or need of something

llc

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US / ˈlɪzəd /

UK / ˈlɪzərd /

A1

talk

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US / tɔ:k /

UK / tɔk /

A1
  • noun
  • Style of speaking
  • Discussion between two countries
  • Giving information in front of people; lecture
  • Saying things or ideas to someone with words
  • verb
  • To make a formal speech about something
  • To say things or ideas to someone with words

control

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US / kən'trəʊl /

UK / kənˈtrol /

A1
  • noun
  • A device designed to operate a machine
  • Participant in experiment that is left untouched
  • Act to dominate or command; make manageable
  • A law limiting the growth or spread of something
  • A place which overseas or manages e.g. a factory
  • verb
  • To direct or influence the behavior of something

calculator

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US / 'kælkjʊleɪtə(r) /

UK / ˈkælkjəˌletɚ /

B2
  • noun
  • A small electronic device used for calculation

situation

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US / ˌsɪtʃuˈeɪʃn /

UK / ˌsɪtʃuˈeʃən /

A1
  • noun
  • Place, position or area that something is in
  • Circumstance or condition surrounding an event
  • An unexpected problem or difficulty

start

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US / stɑ:t /

UK / stɑrt /

A1
  • noun
  • First time or place that a thing exists; beginning
  • First opportunity to achieve something, e.g. a job
  • Sudden action or movement because you are scared
  • other
  • Beginning of something in place or time
  • verb
  • To do, be or happen for the first time; begin
  • To turn something on

much

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US / mʌtʃ /

UK / mʌtʃ /

A1
  • adjecitve
  • Very; to a high level or degree
  • adverb
  • A lot; large amount; a high degree of
  • Nearly; basically
  • On many occasions; often
  • noun
  • A large amount; a great quantity

necessarily

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US / ˌnesəˈserəli /

UK / ˌnɛsɪˈsɛrəli, -ˈsɛr- /

A2
  • adverb
  • In a way that is needed/required/is unavoidable

begin

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US / bɪ'ɡɪn /

UK / ˈbeɡɪn /

A1
  • verb
  • To do the first part of an action; to start

period

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US / ˈpɪəriəd /

UK / ˈpɪriəd /

A1
  • noun
  • Set amount of time during which events take place
  • A way to emphasize what you will say
  • A full stop (.), marking the end of a sentence
  • A menstrual cycle
  • A set time for a class to be held

amount

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US / ə'maʊnt /

UK / əˈmaʊnt /

A1
  • noun
  • Quantity of something
  • verb
  • To add up to a certain figure

limited

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US / ˈlɪmɪtɪd /

UK / ˈlɪmɪtɪd /

B1
  • adjecitve
  • (Of a company) with a limit of financial liability
  • With restrictions; not broad in scope
  • verb
  • To stop or prevent an increase past a point

exact

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US / ɪɡ'zækt /

UK / ɪɡˈzækt /

A2
  • adjecitve
  • Completely correct; accurate; specific
  • verb
  • To get something, sometimes using force

know

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US / nəʊ /

UK / noʊ /

A1
  • verb
  • To be familiar with a person or place, thing
  • To feel sure or be convinced about something
  • To discover or be aware of something
  • To be able to distinguish
  • To have knowledge of things

next

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US / nekst /

UK / nɛkst /

A1
  • adverb
  • The one that follows another in time or order
  • At a time or place directly after the present one
  • noun
  • The one that follows after
  • adjecitve
  • Immediately after the previous one
  • First occurrence after the present one

could

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US / kəd /

UK / kʊd /

A1
  • other
  • Past form of 'can' to mean have ability
  • Used to ask for something politely, or to offer

clear

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US / klɪə(r) /

UK / klɪr /

A1
  • adjecitve
  • Empty; without anything in it or on it
  • Being certain and without doubt
  • Being without any streaks, spots, or cracks
  • Easy to understand; well-explained; obvious
  • adverb
  • Completely; entirely; through the whole of
  • Away from; free from
  • verb
  • To recover from or remove a problem
  • To get rid of the entire contents of
  • To give permission for something to happen
  • To make a place or surface empty by removing
  • To prove that someone is not guilty or to blame

raise

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US / reɪz /

UK / rez /

A1
  • noun
  • Increase in a bet above another when playing cards
  • Pay increase
  • verb
  • To increase a bet above another when playing cards
  • To gather donations for a cause or charity
  • To bring up and educate a child to maturity
  • To bring a dead person to life
  • To increase a quantity, size, intensity or price
  • To lift (e.g. your hand) to a higher position
  • To mention a topic /issue for discussion; bring up
  • To increase (salary, etc.)
  • To grow or care for plants or animals

calculate

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US / 'kælkjʊleɪt /

UK / ˈkælkjəˌlet /

B2
  • verb
  • To find an answer using mathematics
  • To make an educated guess about something

manage

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US / ˈmænɪdʒ /

UK / ˈmænɪdʒ /

A1
  • verb
  • To survive hardships and difficulties; to cope
  • To run or operate a business by directing others

end

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US / end /

UK / ɛnd /

A1
  • noun
  • The point where a process or activity stops
  • A point that marks the limit of something; finish
  • Goal or desired result
  • The tip, edge or limit of something
  • verb
  • To be the last part of something

before

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US / bɪˈfɔ:(r) /

UK / bɪˈfɔr,-ˈfor /

A1
  • adverb
  • At a time earlier than the present; previously
  • conjunction
  • In advance of something happening
  • preposition
  • In front of someone or something

see

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US / si: /

UK / si /

A1
  • verb
  • To go on a date with someone
  • To predict whether something is, or will be true
  • To understand what someone says
  • To use your eyes to look at something
  • To visit a place often for sightseeing or pleasure
  • To visit or meet with someone
  • To find out by waiting or looking
  • To watch (a game, movie or TV show)

sec

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US / sek /

UK / sɛk /

A1
  • noun
  • Shortened form of 'second'

with

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US / wɪð /

UK / wɪð, wɪθ /

A1
  • preposition
  • As an employee of a certain company
  • Against something or someone
  • By using something as a means
  • Due to; because of
  • Including
  • Possessing as a feature
  • Related to
  • (Of the manner/attitude by which you do something)
  • Used to express that people or things are together

have

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US / həv /

UK / hæv /

A1
  • verb
  • To drink, smoke, eat or use something
  • To experience the effects of something
  • To organize an event, or join in an activity
  • To own, possess, or hold something
  • To cause to happen or produce a particular effect

month

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US / mʌnθ /

UK / mʌnθ /

A1
  • noun
  • One of 12 28-31 day periods in the year

interest

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US / 'ɪntrəst /

UK / ˈɪntrɪst, -tərɪst, -ˌtrɛst /

A1
  • noun
  • Best or most advantageous thing for someone
  • Activity or subject one enjoys doing or learning
  • Fee for borrowing money
  • verb
  • To make someone want to know about something
  • To persuade to do, become involved with something

increase

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US / ɪn'kri:s /

UK / ɪnˈkris /

A1
  • noun
  • Fact of increasing; amount something grows by
  • verb
  • To make or become larger in size or amount

his

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US / hɪz /

UK / hɪz /

A1
  • pronoun
  • Something belonging to a male person

handful

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US / 'hændfʊl /

UK / ˈhændˌfʊl /

B1
  • noun
  • an amount of something that can be held in one hand; small quantity or amount of people or things
  • A thing requiring great effort to control, manage

almost

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US / 'ɔ:lməʊst /

UK / ˈɔlˌmost, ɔlˈmost /

A1
  • adverb
  • Only a little less than, nearly, not quite

own

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US / əʊn /

UK / on /

A1
  • adjecitve
  • Belong to oneself
  • determiner
  • Yours, his, hers, etc.; not belonging to another
  • pronoun
  • (Something) belong to myself
  • verb
  • To have something as your property

place

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US / pleɪs /

UK / ples /

A1
  • noun
  • Particular location, area or region
  • verb
  • To put someone in a particular type of situation
  • To put something in a certain location or position

she

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US / ʃɪ /

UK / ʃi /

A1
  • pronoun
  • Female person or animal mentioned before
  • (Refers to female person mentioned before)

then

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US / ðen /

UK / ðɛn /

A1
  • adverb
  • A time that is not now
  • Following another thing in time or arrangement
  • Following on reasonably from what was just stated
  • At that time, not now

second

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US / 'sekənd /

UK / ˈsɛkənd /

A1
  • adjecitve
  • 2nd; the one following first
  • noun
  • Unit of time; one sixtieth of a minute
  • Short period of time that you wait for someone
  • (Do) soon

that

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US / ðæt /

UK / ðæt, ðət /

A1
  • adjecitve
  • The person or thing being talked about
  • Used to identify something both the speakers know
  • adverb
  • Used to reinforce adjectives and adverbs
  • To such a degree
  • conjunction
  • Used to connect a noun clause
  • Used to introduce an adverbial clause
  • Used to introduce a noun clause
  • determiner
  • Used as a noun to refer to something
  • pronoun
  • Referring an object far away
  • Used to refer to the relative pronoun ‘which’

about

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US / ə'baʊt /

UK / əˈbaʊt /

A1
  • adverb
  • To be ready to; going to
  • Nearly; approximately; roughly
  • Near; next to; close to
  • In every direction; in the area of
  • preposition
  • Concerning or of (a topic)

partner

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US / 'pɑ:tnə(r) /

UK / ˈpɑrtnɚ /

A2
  • noun
  • One you have a business/personal relationship with
  • Someone you have personal relationship with
  • verb
  • To join with others for work or other activity

like

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US / laɪk /

UK / laɪk /

A1
  • adjecitve
  • Being equal in status or kind to something else
  • Similar; the same
  • adverb
  • For example
  • preposition
  • Used as a filler; used to ad emphasis
  • In a way similar to the way something is done
  • Such as; for example
  • verb
  • To want to
  • To find something pleasing; to prefer something

total

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US / ˈtəʊtl /

UK / ˈtoʊtl /

A1
  • adjecitve
  • Complete
  • noun
  • Whole number or amount of something
  • verb
  • To damage a car beyond repair

fancy

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US / 'fænsɪ /

UK / ˈfænsi /

A2
  • adjecitve
  • Unusual and attractive in design
  • verb
  • To want to have or do something; feel like
  • To imagine or suppose that something will happen
  • To believe or imagine something that is not true

value

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US / 'vælju: /

UK / ˈvælju /

A1
  • noun
  • Importance you attach to something
  • Some information expressed as a number
  • Stated price of something; worth
  • verb
  • To place a high importance on something
  • To say how much money something is worth

profit

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US / 'prɒfɪt /

UK / 'prɑ:fɪt /

A2
  • noun
  • Benefit from doing something
  • Money earned from sales, after costs are deducted
  • verb
  • To be a benefit to someone
  • To earn money from something

fund

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US / fʌnd /

UK / fʌnd /

A2
  • noun
  • Money collected, saved, or provided for a purpose
  • A specific account into which you put money
  • verb
  • To supply money for something

during

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US / ˈdjʊərɪŋ /

UK / ˈdʊrɪŋ, ˈdjʊr- /

A1
  • preposition
  • At some point in the course of an event or thing

again

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US / ə'ɡen /

UK / əˈɡɛn /

A1
  • adverb
  • One more time, once more

what

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US / wɒt /

UK / hwɑt, hwʌt, wɔt, wʌt,hwət, wət /

A1
  • pronoun
  • Thing or things that; the same kind as
  • Used to emphasize something you are about to say
  • adjecitve
  • Used to refer to a particular amount, or number
  • Used to place emphasis on a particular quality
  • adverb
  • To a certain degree
  • determiner
  • Question words used for asking for information
  • exclamation
  • Used to express excitement, shock, or surprise
  • Used to ask people to repeat something they said

get

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US / ɡet /

UK / ɡɛt /

A1
  • verb
  • To become affected by illness or disease
  • To begin to feel or understand an emotion or idea
  • To send or bring someone or something home, etc.
  • To go somewhere to obtain something
  • To (cause to) do a particular thing
  • To obtain, receive or be given something
  • To currently have
  • To prepare for use
  • To understand something being said or read

monthly

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US / ˈmʌnθli /

UK / ˈmʌnθli /

A2
  • adverb
  • Occurring about once every 4 weeks

type

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US / taɪp /

UK / taɪp /

A1
  • noun
  • Printed letters or blocks used for printing them
  • Group of things or people sharing common features
  • verb
  • To identify something belonging to a group
  • To write by touching keys on a keyboard

first

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US / fɜ:st /

UK / fɚst /

A1
  • adjecitve
  • 1st; Coming before all others in time or place
  • noun
  • Something that has not happened before
  • Position of the winner of a competition

tend

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US / tend /

UK / tɛnd /

A2
  • verb
  • To move or act in a certain manner
  • To take care of
  • To regularly behave in a certain way

roughly

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US / ˈrʌfli /

UK / ˈrʌflɪ /

B1
  • adverb
  • Approximately; (of numbers) about; around
  • In a manner that is violent or not careful
  • In an inexact, imprecise or violent way
  • In a basic, simple manner

decrease

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US / dɪˈkri:s /

UK / dɪˈkris /

B1
  • noun
  • Amount by which something has been reduced
  • verb
  • To reduce the size, amount or number of something

happen

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US / 'hæpən /

UK / ˈhæpən /

A1
  • verb
  • To take place or occur

essentially

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US / ɪˈsenʃəli /

UK / ɪˈsenʃəli /

A2
  • adverb
  • Basically; (said when stating the basic facts)

people

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US / 'pi:pl /

UK / ˈpipəl /

A1
  • noun
  • Persons sharing culture, country, background, etc.
  • Men, Women, Children

right

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US / raɪt /

UK / raɪt /

A1
  • adjecitve
  • Correct or true
  • The south side of you looking at the rising sun
  • adverb
  • Exactly in a place or time
  • Being appropriate for a particular event
  • In a straight or direct manner
  • noun
  • Something you are legally or morally allowed to do
  • Ideal of what is just and good
  • Political view based on conservatism
  • verb
  • To fix something previously wrong or unjust
  • To make upright, as a boat that has turned over

accredit

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US / əˈkredɪt /

UK / əˈkredɪt /

C1
  • verb
  • To state that meets certain standards

mean

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US / mi:n /

UK / min /

A1
  • adjecitve
  • Being good at
  • Nasty; unkind
  • Not liking to spend money; cheap; stingy
  • noun
  • Average of a set of numbers
  • verb
  • To express a particular idea or thought
  • To intend to do something in particular
  • To have a particular meaning or value

the

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US / ðə /

UK / ðə /

A1
  • article
  • Used to refer to something already mentioned
  • Used to show there is only one of something
  • determiner
  • Used to describe all of a family

entire

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US / ɪn'taɪə(r) /

UK / ɛnˈtaɪr /

A2
  • adjecitve
  • Complete or full; with no part left out; whole

kind

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US / kaɪnd /

UK / kaɪnd /

A1
  • adjecitve
  • In a caring and helpful manner
  • friendly and considerate
  • noun
  • One type of thing

into

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US / 'ɪntə /

UK / ˈɪntu /

A1
  • preposition
  • Moving or going inside something
  • In the same direction as; in the direction of
  • So as to become; taking the state of

other

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US / 'ʌðə(r) /

UK / ˈʌðər /

A1
  • adjecitve
  • A thing different from that mentioned
  • determiner
  • (Something) else; not the first (one)
  • pronoun
  • Being the one and only thing of that category

rent

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US / rent /

UK / rɛnt /

A2
  • verb
  • To give the use of something in return for payment
  • To cut a piece of cloth by tearing it

one

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US / wʌn /

UK / wʌn /

A1
  • pronoun
  • You; we; people in general; someone
  • The thing or person previously referred to
  • adjecitve
  • Used to refer to people generally
  • Being a strong example of (something mentioned)
  • number
  • Number 1

capital

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US / 'kæpɪtl /

UK / ˈkæpɪtl /

A2
  • adjecitve
  • Main, or major
  • noun
  • Writing the first letter of a word in big letters
  • Official main city of a country, province or state
  • Collective name for money, shares, and assets
  • Money that is used for a business

might

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US / maɪt /

UK / maɪt /

A1
  • other
  • Used to politely request an action
  • Used to express that something could happen
  • Power, strength, force or influence

investor

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US / ɪnˈvestə(r) /

UK / ɪnˈvɛstɚ /

A2
  • noun
  • Person who spends money to help businesses grow

investment

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US / ɪnˈvestmənt /

UK / ɪnˈvɛstmənt /

A2
  • noun
  • Something purchased hoping its value will increase
  • Act of giving time, energy to see a future reward

let

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US / let /

UK / lɛt /

A1
  • verb
  • To allow someone to do something
  • Introducing a suggestion to do something together
  • To rent a house, etc. to others

profitable

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US / ˈprɒfɪtəbl /

UK / ˈprɑ:fɪtəbl /

A2
  • adjecitve
  • Being useful; benefiting someone or something
  • Able to gain a benefit from something you did
  • Making more money than it cost to make

five

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US / faɪv /

UK / faɪv /

A1
  • number
  • 5

this

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US / ðɪs /

UK / ðɪs /

A1
  • adjecitve
  • Used to indicate something already been discussed
  • Used to indicate something happening around now
  • adverb
  • An indication by a physical motion or gesture
  • A specific amount of
  • determiner
  • Person, thing, or idea near you
  • pronoun
  • Person, thing that has already been discussed

little

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US / 'lɪtl /

UK / ˈlɪtl /

A1
  • adjecitve
  • Being short in length of time
  • Not great in size, amount, or degree; small
  • Being very young or younger than others
  • adverb
  • By an amount or degree that is not very much
  • Not often; rarely
  • noun
  • A person's name

you

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US / jʊ /

UK / ju /

A1
  • pronoun
  • Person someone is speaking or writing to
  • Person or people in general

how

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US / haʊ /

UK / haʊ /

A1
  • adjecitve
  • To what degree? in what amount?
  • adverb
  • (Used to explain the way to do something)
  • exclamation
  • For what purpose or reason?
  • (Used to ask someone or something's condition)

open

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US / 'əʊpən /

UK / ˈopən /

A1
  • adjecitve
  • Available for use; accessible
  • Not being hidden; available for others to see
  • Being available for customers to enter or use
  • Allowing everyone to use or take part in
  • Not secret anymore
  • Not closed or shut
  • Willing to accept new ideas and thoughts
  • noun
  • Name for a tennis or golf competition
  • verb
  • To make accessible or able to be used, e.g. road
  • To start the activities or services of a business
  • To make a space or hole appear in something
  • To move or change so that it is no longer closed
  • To start something, e.g. a new business

also

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US / 'ɔ:lsəʊ /

UK / ˈɔlso /

A1
  • adverb
  • In addition; too; in a similar way

able

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US / 'eɪbl /

UK / ˈebəl /

A2
  • adjecitve
  • Skilled; good at something
  • Having the ability to do something

bad

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US / bæd /

UK / bæd /

A1
  • adjecitve
  • Not good; wrong
  • Lacking in good morals; evil
  • No longer fresh; spoiled

reinvest

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US / ˌri:ɪnˈvest /

UK / ˌri:ɪn'vest /

B1
  • verb
  • To reuse resources to build for the future

specific

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US / spəˈsɪfɪk /

UK / spɪˈsɪfɪk /

A2
  • adjecitve
  • Precise; particular; just about that thing
  • Concerning one particular thing or kind of thing

make

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US / meɪk /

UK / mek /

A1
  • noun
  • Product made by a particular company; brand
  • verb
  • To arrange or prepare something e.g. dinner
  • To get to (a place) on time
  • To gain the status of (teacher, lawyer, etc.)
  • To create something by putting things together
  • To earn a certain amount of money at a job
  • To cause or force a person to do something
  • To cause something to happen or be formed

average

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US / 'ævərɪdʒ /

UK / ˈævərɪdʒ, ˈævrɪdʒ /

A2
  • adjecitve
  • Typical or normal; usual; ordinary
  • noun
  • Total of numbers divided by the number of items
  • verb
  • To add numbers then divide by the number of items

year

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US / jə: /

UK / jɪr /

A1
  • noun
  • Unit of time equal to 12 months or 365 or 366 days
  • Used to refer to the age of a person

sometimes

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US / ˈsʌmtaɪmz /

UK / ˈsʌmˌtaɪmz /

A1
  • adverb
  • Only at certain times; occasionally

most

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US / məʊst /

UK / most /

A1
  • adverb
  • Very; extremely
  • Greatest possible degree
  • pronoun
  • Nearly all of something

over

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US / 'əʊvə(r) /

UK / ˈovɚ /

A1
  • adverb
  • Finished; no longer happening
  • Towards the ground/away from a standing position
  • noun
  • A set of six consecutive balls bowled in cricket
  • other
  • Finished
  • preposition
  • Showing the relation when a thing is above another
  • On or covering something
  • Above or across something
  • More than you need
  • From one side to the other
  • In the direction of; toward

money

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US / 'mʌnɪ /

UK / ˈmʌni /

A1
  • noun
  • Coins or notes we use to pay for things

normally

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US / ˈnɔ:məli /

UK / ˈnɔːrməli /

B1
  • adverb
  • In the manner that is usual or ordinary

out

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US / aʊt /

UK / aʊt /

A1
  • adverb
  • No longer stylish (e.g. fashion)
  • Away from home, business, or the usual place
  • In a direction/movement away from inside or center
  • noun
  • Act when a batter cannot continue playing
  • verb
  • To tell people a secret

until

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US / ənˈtɪl /

UK / ʌnˈtɪl /

A1
  • conjunction
  • Up to; to a time when something happens
  • preposition
  • Before (a specific time)

share

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US / ʃeə(r) /

UK / ʃɛr /

A2
  • noun
  • Part-ownership in a property, business or company
  • Part of a company you own, shown by a certificate
  • verb
  • To divide something between two or more people
  • To allow others to use your things equally
  • To give information, etc. to someone

and

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US / ənd /

UK / ənd, ən,ænd /

A1
  • conjunction
  • Used to refer to two or more things
  • Plus; in addition; on top of that
  • Used to introduce an action that follows another

couple

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US / 'kʌpl /

UK / ˈkʌpəl /

A2
  • noun
  • Two people in a romantic relationship
  • Two of something; two people; a pair
  • verb
  • To join something to something else
  • (Two animals) to engage in sexual relations
  • To put two people or things together

minus

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US / ˈmaɪnəs /

UK / ˈmaɪnəs /

A2
  • adjecitve
  • Being close to the bottom of a letter grade
  • noun
  • Negative quality; disadvantage
  • Sign that indicates subtraction
  • preposition
  • Being less than zero in number
  • Used when subtracting one number from another
  • verb
  • To take one number away from another; subtract

call

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US / kɔ:l /

UK / kɔl /

A1
  • noun
  • A order or request for action
  • The sound an animal makes, often when in danger
  • A correct prediction, e.g. a decision in a game
  • A short visit to a place or person
  • A decision by a referee or umpire in a game
  • verb
  • To make a request or order for action
  • (Animal) to make sounds to warn of danger
  • To announce the date of an election
  • To make a judgment about something
  • To give someone or something a name
  • To guess in advance the result or outcome
  • To visit a place or person for a short time
  • To phone someone
  • To speak, announce or shout in a loud voice

hey

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US / heɪ /

UK / he /

A1
  • exclamation
  • What you say when you want someone's attention

their

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US / ðɛː /

UK / ðer /

A1
  • determiner
  • Belonging to them

confusing

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US / kənˈfju:zɪŋ /

UK / kənˈfjuzɪŋ /

A2
  • adjecitve
  • Being hard to understand
  • verb
  • To make something unclear or hard to understand

return

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US / rɪ'tɜ:n /

UK / rɪ'tɜ:rn /

A1
  • adjecitve
  • Do again; repeated
  • noun
  • Faulty or unwanted product sent back to a company
  • Enter key; the main key on the computer keyboard
  • Profit made as a result of a business activity
  • Process of going back to a previous way or state
  • verb
  • To hit something back to the other player or team
  • To come back after being away from somewhere
  • To repay someone's actions, kindness etc.
  • To put, bring, take, give, or send something back
  • To occur again

else

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US / els /

UK / ɛls /

A1
  • adverb
  • Otherwise; if you fail to
  • (Of person place thing etc.) besides; in addition

bit

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US / bɪt /

UK / bɪt /

A1
  • noun
  • Device put in a horse's mouth to control it
  • Small piece of something
  • verb
  • (E.g. of fish) to take bait and be caught

take

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US / teɪk /

UK / tek /

A1
  • noun
  • Filming of a single scene for TV or the movies
  • verb
  • To accept something that is offered
  • To use a method of traveling, e.g. a bus or train
  • To use a camera to make (a photo)
  • To pick up something and go away with it
  • To study a subject in school
  • To attempt to pass (an exam)
  • To require a certain amount of time, money, space

management

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US / 'mænɪdʒmənt /

UK / ˈmænɪdʒmənt /

A2
  • noun
  • People who are in control of a business or group
  • The process of running an organization

add

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US / æd /

UK / æd /

A1
  • verb
  • To include as well
  • To put two things or numbers together, e.g. 2+2

liability

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US / ˌlaɪəˈbɪləti /

UK / ˌlaɪəˈbɪlɪti /

B1
  • noun
  • Something that is owed to someone else, e.g. debt
  • Person, thing that causes problems for someone

pretty

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US / 'prɪtɪ /

UK / ˈprɪti /

A1
  • adjecitve
  • Being attractive to the eye in a simple way
  • adverb
  • Very; to a great degree

who

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US / hu: /

UK / hu /

A1
  • pronoun
  • Which person
  • Used to introduce information about people

general

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US / 'dʒenrəl /

UK / ˈdʒɛnərəl /

A1
  • adjecitve
  • Widespread, normal or usual
  • noun
  • Top ranked officer in the army

multiply

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US / ˈmʌltɪplaɪ /

UK / ˈmʌltəˌplaɪ /

B1
  • verb
  • To increase in number by reproducing/having babies
  • To increase something by a large quantity
  • To have increased by a large quantity
  • To calculate two numbers e.g. 2 x 4

gain

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US / ɡeɪn /

UK / ɡen /

A2
  • noun
  • An increase in something, such as weight
  • verb
  • To increase in something, such as weight
  • To get something wanted, needed or valued

move

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US / mu:v /

UK / muv /

A1
  • noun
  • Act of moving a playing piece in chess, etc.
  • An action; doing something
  • Step taken to achieve a goal
  • verb
  • To cause someone to have certain emotions
  • To cause something to change to a different place
  • To change where people live or a business operates
  • To take action to do or achieve something

pay

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US / peɪ /

UK / pe /

A1
  • noun
  • Money you receive from your job, work, etc.
  • verb
  • To give money for goods or work done
  • To give (attention, respect, etc.) to
  • To be punished or suffer for something you did
  • To make (a visit) to a person or place

work

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US / wɜ:k /

UK / wɚk /

A1
  • adjecitve
  • Activity completed in order to make money
  • noun
  • The product of some artistic or literary endeavor
  • Everything created by an author, artist, musician
  • Activity you do in order to make money
  • Place of employment
  • Final product or result of a some labor or effort
  • verb
  • To bring into a specific state of success
  • To be functioning properly, e.g. a car
  • To do your job in your company or workplace
  • To make an effort to do something
  • To operate a machine or device

mechanic

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US / məˈkænɪk /

UK / mɪˈkænɪk /

B1
  • noun
  • A person who looks after/works with machinery

asset

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US / 'æset /

UK / ˈæsˌɛt /

A2
  • noun
  • Thing that has value to you

they

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US / ðeɪ /

UK / ðe /

A1
  • pronoun
  • Two or more people, animals, or things

redeem

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US / rɪ'di:m /

UK / rɪˈdim /

B2
  • verb
  • To exchange (coupon/voucher) for merchandise, etc.

subtract

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US / səbˈtrækt /

UK / səbˈtrækt /

B2
  • other
  • To take away a value or amount from another
  • verb
  • To take away a value or amount from another

consistently

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US / kən'sɪstəntlɪ /

UK / kənˈsɪstəntlɪ /

B1
  • adverb
  • In a manner that is the same almost every time

very

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US / 'verɪ /

UK / ˈvɛri /

A1
  • adjecitve
  • Concerning a large degree or amount
  • adverb
  • A lot; much; many
  • Used to stress or emphasize a noun

way

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US / weɪ /

UK / we /

A1
  • adverb
  • Used to emphasize the amount of something
  • noun
  • Particular aspect of something being thought about
  • One of various choices that could be made
  • Particular existing condition or state
  • (Often long) distance or length of time
  • How something is done
  • Route to go to a place
  • Small street
  • Usual behavior, emotions or habits of someone

certain

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US / ˈsə:tn /

UK / ˈsɚtn /

A1
  • adjecitve
  • Definite, fixed
  • Referring to an unspecified amount or quantity
  • Being sure about something; without doubt

here

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US / hɪə(r) /

UK / hɪr /

A1
  • adverb
  • In this place; at this location, position or time

himself

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US / hɪmˈself /

UK / hɪmˈsɛlf /

A1
  • pronoun
  • The same (male) person who did the action

performance

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US / pə'fɔ:məns /

UK / pɚˈfɔrməns /

A2
  • noun
  • Act of doing something
  • Activity done to entertain an audience

fairly

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US / 'feəlɪ /

UK / ˈfɛrli /

A2
  • adverb
  • Quite; pretty; between very and a little
  • In a manner that is right and acceptable

point

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US / pɔɪnt /

UK / pɔɪnt /

A1
  • noun
  • An item to be discussed
  • Small spot or dot
  • Fact or detail
  • Feature of something
  • The size of the text on a page or screen
  • A certain time or stage in a process
  • Certain position in time or space
  • Idea or fact you try to convince people about
  • Measurement of scores in a game, sport
  • Sharp end of something, e.g. a pen or pin
  • verb
  • To face a certain direction, e.g. north
  • To indicate something with your finger to others

either

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US / ˈaɪðə(r) /

UK / ˈiðɚ, ˈaɪðɚ /

A1
  • adjecitve
  • One of two (used when there is a choice of two)
  • adverb
  • (After negative statements) likewise, in addition
  • conjunction
  • Used as the first of two connected things
  • determiner
  • Used as the first of two connected things
  • pronoun
  • The one or the other

million

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US / ˈmɪljən /

UK / ˈmɪljən /

A1
  • number
  • 1,000,000

broker

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US / 'brəʊkə(r) /

UK / ˈbrokɚ /

B1
  • noun
  • Person who acts to buy or sell shares in companies
  • verb
  • To negotiate a business deal

probably

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  • Subtitles section
  • Let's see if we can understand the structure of a hedge fund a little bit, and also how the management and the performance fees work out.
  • So most hedge funds, the funds themselves are set up as limited partnerships.
  • So this is the hedge fund that Pete set up, we'll call Pete Capital Fund 1.
  • He's maybe in the future going to start Fund 2, and Fund 3, and all of the rest.
  • And he's able to raise $100 million.
  • 10% of that $100 million, or $10 million of it, is coming from him.
  • Or I guess to be more exact, it's coming from Pete Capital Management, LLC, limited liability company, which he starts off as the general partner of this fund.
  • And it might be a little bit confusing, but this is one company.
  • This is another company over here.
  • This company is going to manage the assets of that company.
  • And in return, it will be able to get management fees.
  • And it will be able to get the performance fees.
  • And we'll talk about that in a second.
  • And probably, Pete owns this entire company.
  • But he might have a couple of employees, probably four or five.
  • Now, the way it works with a limited partnership is they don't call it necessarily shares, but it's essentially the same thing.
  • Someone who, out of this $100 million contributed $30 million, would get 30% in the limited partner interest.
  • Someone who contributed 10% would get $10 million in limited partner interests.
  • So let's just say that he does really good over the next year.
  • That he's able to, on a gross basis, before we take out his management fee or anything else, grow the fund by $20 million.
  • So roughly on a gross basis, 20%.
  • But this is net of the trading fees and all the stuff that he has to pay, the broker and all of that type of thing.
  • To understand what goes to Pete Capital Management, that Pete can use to pay himself and his handful of employees, first to guess the management fee.
  • And the management fee will be on the average net asset value.
  • And I'm going to do it a little bit back-of-the-envelope right over here.
  • It's normally done on a monthly basis.
  • But I want to go into all of the accounting.
  • But if he did this fairly linearly, or if you does this fairly consistently, the average net asset value over the year would be about $110 million.
  • So average would be approximately $110 million.
  • And so he'll get about 2% of that.
  • We're assuming he gets a 2% management and 20% performance fee, or 20% carried interest, it's sometimes called.
  • So if the average net asset value is $110 million, you multiply that times 2%.
  • And then that means that he's going to get $2.2 million in management fees.
  • And this is for his salary, his employee's salary, to pay the rent, to I don't know, get some fancy computers, whatever it might be.
  • This is kind of viewed as the cost just to manage the fund.
  • So we need to subtract that from the total amount in the fund, because that's going to the management company.
  • So instead of $120 million over here we're going to have, what is that?
  • $117 million 0.8, $117.8 million.
  • And then we'll have to calculate how much she gets in a performance fee.
  • So in this situation, net of his management fee, we have a $17.8 million gain.
  • So let me write that over here.
  • We have $17.8 million in profits.
  • The way that we've set up the performance fee, or the carried interest, is it Pete gets 20% of it.
  • Or more particular, the general partner, the Pete Capital Management, LLC, the partner that is controlling, that as managing this fund, will get 20%.
  • So let's multiply that times 20%.
  • And what does that give us?
  • That gives us $3.56 million.
  • So $3.56 million will also go to Pete Capital Management.
  • So not bad.
  • In this year he made a little-- almost $6 million.
  • And that's probably going to go to him and probably four or five employees.
  • So it can, if someone performs well, it can be a very profitable business.
  • And just to make it clear how the mechanics work here is that these funds tend to be open end funds, like open end mutual funds.
  • Well not like them, they have to be private.
  • They could only take money from accredited investors.
  • They can't market themselves.
  • They don't have to register with the SEC.
  • But when I say that they can be open-ended it means that at any point-- well not at any point, usually this is restricted-- at certain points in time the investors are allowed to redeem, or kind of add investments,
  • to what's going on in the fund.
  • So let's say after the end of the year, so instead of $117.8, we're going to have to subtract $3.56 from that for Pete Capital Management.
  • So what's left in the fund is going to be-- and he could leave it in there to reinvest, but that would just increase his share.
  • But let's say Pete Capital Management takes it out.
  • So we'll be left with-- let's see we have 117.8 minus it gives us 114.24.
  • So over here, what's left of the fund is 114.24.
  • And let's say this period, investors are allowed to redeem their interest.
  • And let's say this guy right over here, this guy with the 30% interest, he says, you know what?
  • That was a pretty good year.
  • I want to take 10% of my interest out.
  • So instead of having a 30% interest, he wants to have a 10% interest.
  • So what happens is, so instead of a 30% this is now 20% interest.
  • He'll take 10% out.
  • So he'll take 10% of 114.24.
  • So he's going to take out-- that's essentially going to be-- we just have to move the decimal places one over.
  • So he's going to take out $11.424 million.
  • That's this guy right over here.
  • He's going to take out $11.424 million.
  • And then the fund will decrease by that amount.
  • So he can, at these specific periods, people can redeem.
  • Usually it's at the end of the month, at the end of the quarter, or the end of the year.
  • So then the fund will be left with, what's 114-- let me take the calculator out again.
  • The fund will now be left with 114.24 minus 11.424 which is going to be 102.816.
  • And at the same time, other people might say, hey, that was a pretty good return.
  • I'm going to now contribute to the fund.
  • So either way, it's not like it's a closed-end fund where just at the beginning, people can commit their capital and they can't take it out until the end of the fund, or they can't add more.
  • During the life of most hedge funds, at specific periods, people are allowed to redeem their funds.
  • Or they're allowed to add more funds.