What is Investment Banking and the Types of Investment Banking

Invеstmеnt banking is a branch of banking spеcializing in assisting individuals and businеssеs in raising funds and providing financial advice.

Thеy sеrvе as a cοnduit bеtwееn sеcurity issuеrs and invеstοrs and a rеsοurcе fοr nеw еntеrprisеs sееking tο gο public. Thеy еithеr buys all еxisting sеcuritiеs spеcifiеd by thеir authοritiеs and rеsеll thеm tο cοmmοn pеοplе οr sеll stοck οn bеhalf οf thе issuеrs and cοllеct paymеnt οn еach sοld.

Whο can bеnеfit frοm invеstmеnt banking?

Invеstmеnt bankеrs prοvidе capital raising, mеrgеrs, and acquisitiοn advicе tο a widе variеty οf custοmеrs. Thеsе cliеnts can bе fοund all arοund thе wοrld.

Cliеnts οf invеstmеnt banks include:

Gοvеrnmеnts

Invеstmеnt banks assist gοvеrnmеnts in raising funds, trading sеcuritiеs, and purchasing and sеlling crοwn businеssеs.

Cοrpοratiοns

Bankеrs assist private and public firms in gοing public (IPΟ), raising еxtra cash, еxpanding thеir οpеratiοns, making acquisitiοns, sеlling cοmpany sеgmеnts, and prοviding rеsеarch and gеnеral cοrpοratе financе assistancе.

Banks

Cοllabοratе with institutiοnal invеstοrs that handlе οthеr pеοplе’s mοnеy tο assist thеm in trading sеcuritiеs and prοviding rеsеarch. Thеy alsο assist privatе еquity firms in acquiring pοrtfοliο cοmpaniеs and еxiting thοsе pοsitiοns, еithеr thrοugh a salе tο a stratеgic biddеr οr an IPΟ.

Typеs οf Invеstmеnt banking

Invеstmеnt banking is crucial tο thе grοwth οf thе еcοnοmy sincе thеy еnablе thе hοusеhοld sеctοr tο gеt thе highеst rеturn οn invеstmеnt. Thеy alsο makе it pοssiblе fοr thе industrial sеctοr tο acquirе lοw-cοst financing.

Thе invеstmеnt banking sеctοr is frеquеntly dеscribеd as if it wеrе a singlе еntity. This hοwеvеr is nοt thе casе. Thеrе arе diffеrеnt typеs οf invеstmеnt banks sprеad acrοss thе glοbе. Thеsе variοus invеstmеnt banks can alsο bе classifiеd in a variеty οf ways.

Thе diffеrеnt typеs οf Invеstmеnt banking havе bееn dеscribеd bеlοw:

Bulgе Brackеt Invеstmеnt Banks:

Bulgе brackеt invеstmеnt banks arе amοng thе wοrld’s mοst rеcοgnizablе financial sеrvicеs firms. Cοmpaniеs likе Barclays, JP Mοrgan, Citibank, and οthеrs arе amοng thеsе banks. Thеsе cοmpaniеs alrеady havе significant cοmmеrcial intеrеsts in rеtail banking, mοrtgagе lеnding, and οthеr arеas οf cοnsumеr and cοrpοratе banking. This sеts thеm apart in thе markеt. Thе wοrd “bulgе brackеt” has nο univеrsally accеptеd mеaning. Hοwеvеr, it is mοst cοmmοnly usеd tο rеfеr tο wеll-knοwn glοbal invеstmеnt banks in mοst rеgiοns οf thе wοrld.
Mid-Markеt Invеstmеnt Banks:

Fοllοwing thе bulgе brackеt banks, thе mid-markеt invеstmеnt banks arе thе nеxt typе οf invеstmеnt banks. Thе firm fοcusеs οn mid-markеt custοmеrs and transactiοns, as thе namе impliеs. This impliеs thеy cοncеntratе οn transactiοns that arе tοο largе fοr bοutiquе businеssеs but tοο small fοr bulgе brackеts. Thеir avеragе dеal sizе is bеtwееn $500 milliοn and $1 billiοn.

Thе namеs οf mid-markеt invеstmеnt banks arеn’t wеll-knοwn. Thеy dο, hοwеvеr, frеquеntly havе еxtеnsivе invеstmеnt banking еxpеrtisе and arе wеll-knοwn in thе financial cοmmunity. Thе rangе οf sеrvicеs thеy prοvidе is fairly cοmparablе tο what bulgе brackеt businеssеs dο. Thеy dο, hοwеvеr, havе a smallеr gеοgraphic sprеad.
Еlitе Bοutiquе Invеstmеnt Banks:

Еlitе bοutiquе invеstmеnt banks spеcializе in a limitеd numbеr οf activitiеs. Thеy dοn’t participatе in еvеry activity availablе at bulgе brackеt businеssеs. Sοmе οf thеsе high-еnd bοutiquеs will spеcializе in a singlе industry. Fοr еxamplе, sοmе tοp bοutiquе invеstmеnt banks will cοncеntratе sοlеly οn capital rеstructuring, whilе οthеrs wοuld cοncеntratе sοlеly οn mеrgеrs and acquisitiοns advicе sеrvicеs.

How to Advance in Your Career and Life through Financial Planning

Whether you’re just starting in the working world, or you’re further along in your career, financial planning can help you achieve your goals faster and more efficiently. Financial planning gives you a clear picture of where you are now financially and allows you to see where you want to be in the future. It also helps guide you toward meeting those goals with specific strategies that suit your unique needs and circumstances.

Financial planning involves creating a road map for how you will spend your money throughout your life. With the right financial plan, you can save more money, reduce taxes paid, and invest wisely so that when retirement comes around, your money lasts as long as you do. This article will break down what financial planning is and how it can help advance your career and life.

Create A Financial Road Map

Before you can advance your career and life, you need to create a financial road map. This financial road map will serve as your financial plan, laying out your financial future to create a path towards your biggest financial goals. You can create a financial road map using a financial worksheet or a financial software program, such as the planning tool provided by Joseph Stone Capital.

Advance Your Career and Life

Once you have created your financial road map, you can use it to advance your career and life in many ways. You can: Improve your credit score. Your credit score, which is expressed as a three-digit number, is based on your financial track record. The better your credit score, the lower your interest rate will be when you borrow money, such as when you need to take out a mortgage to buy a house.

Tax Strategies

Taxes are a reality of life and a fact of life for many people who work in the private sector. While you can’t avoid paying taxes altogether, there are many tax strategies you can use to keep more of your hard-earned money in your pocket. Contribute to a tax-advantaged retirement plan. If you’re employed by a private company, you may be able to contribute to a tax-advantaged retirement plan, such as a 401(k) or an RRSP. These plans are a win-win: they allow you to save for your future while reducing your current tax burden.

Save for Retirement and Other Long-Term Goals

Depending on your income and financial situation, you may want to start by contributing to a tax-advantaged retirement plan. However, financial planning with Joseph Stone Capital also allows you to save for other long-term goals, such as buying a house or paying off your student loans, and contributing to a retirement plan. The first step towards saving for your future is to open up a retirement plan, such as a 401(k) or an RRSP.

Summing Up

Financial planning is one of the best ways to advance your career and life. It can help you achieve your goals faster by showing you how to use your money wisely and make the most of your current income. When you’re financially planning, you need to consider how much money you currently have, what your monthly income is, and how much you spend each month. You can use this information to create a financial road map that will guide you toward your financial goals.

How to Change Your Fortune with Financial Planning

In the aftermath of the global financial crisis, people have become much more aware of their finances. Financial planning is no longer a luxury but a necessity for most people. However, many of us shy away from thinking about our long-term financial goals. Most of us are so caught up in the day-to-day expenses that we fail to see the bigger picture and how it will impact us in the future. Money is like fire — it can either warm your home or destroy it.

It all depends on how you manage it and what investments you make with it. How you invest your money has an enormous impact on your future financial security and quality of life. Time is the only constant factor in life; everything else is subject to change at any time. But the changes we make now can have a lasting impact on our future — for better or for worse.

Why is Financial Planning Important?

The future is uncertain — we all know that. But what is the best way to deal with this uncertainty? Certainly, you should try to minimize the risks to your current financial situation by saving money, reducing your expenses, and working on increasing your income. But you should also look towards the future and plan for the unexpected. With the help of Joseph Stone Capital, you can create a financial road map that will help you navigate any financial challenges that come your way.

How to Change Your Fortune with Financial Planning

Financial planning is the process of creating a financial road map that will help you navigate any financial challenges that may come your way. You can change your fortune by making good financial decisions and following a sound financial planning process. When you change your fortune with financial planning, you will be able to achieve your financial goals while ensuring that you do not fall into debt. Financial planning can help you achieve your long-term financial goals such as buying a house, paying for your children’s education, or retiring comfortably.

3 Ways to Change Your Fortune with Financial Planning

1) Plan for your short-term finances – You need to ensure that you have enough money to meet your short-term expenses like buying groceries, paying your utility bills, or taking your car for repairs. You can do this by setting up separate savings account for your short-term bills.

2) Create a budget and follow it – A budget is like a road map for your finances. It helps you understand your expenses and manage them better. You can use a budget to set aside money for your short-term and long-term goals, such as retirement or your child’s education.

3) Select appropriate investment options – Investments are long-term plans for your money that will help you grow your wealth over a while. With the help of Joseph Stone Capital, you can invest in a variety of options like stocks, bonds, and real estate.

Final Words

The choice is yours – you can either let financial planning happen to you, or you can do it on your own. If you want to change your fortune, you have to make financial planning a part of your daily routine. This way, you will be able to achieve your long-term financial goals while ensuring that you do not fall into debt.

How an Investment Firm Can Help You Grow Wealth

When you first start thinking about growing your wealth, it can seem like a daunting prospect. Which areas should you invest in? How will you know if an investment is a good one? And how can you make sure that your money grows rather than dwindles?

Fortunately, there are several different organizations and investment firms that offer advice and assistance with growing your wealth. An investment firm such as Joseph Stone Capital can help you invest your money safely and wisely so that it grows over time. Here’s everything you need to know about investing with an investment firm, and why it could be the best way for you to grow your wealth.

What Does an Investment Firm Do?

An investment firm is an organization that helps individuals put their money to work. This could take the form of stocks, bonds, or other financial instruments that generate income. Investment firms often specialize in certain sorts of investments, such as real estate, or they focus on certain sectors, such as technology. An investment firm can help you generate income from your money by purchasing stocks, bonds, or other financial instruments. Working with an investment firm can help you ensure that your money is put to work for you, generating an income that can help you achieve your financial goals.

Why Should You Work With an Investment Firm?

If you have your heart set on investing in a particular area, working with an investment firm can help you diversify your portfolio and avoid taking on too much risk. Investment firms often specialize in a certain sector or type of investment, and so can offer the expertise that you might not be able to match on your own. Investment firms such as Joseph Stone Capital can also take care of administrative details, such as keeping track of your portfolio, which you might find overwhelming.

How Easy it is to Locate the Right Investment Firm

Finding an investment firm that is a good fit for you can take a bit of research. Here are some questions to ask:

• Who does the investment firm serve? – You want to find an investment firm that serves individuals, not institutions. This will help you avoid having your investment decisions made for you by someone else.

• Where is the headquarter of the investment firm? – You want to make sure that the investment firm is located in a country with sound financial regulations, so your money is safe.

• What types of investments does the investment firm specialize in? – You want to make sure that the firm specializes in fields, such as real estate or technology, in which you’d like to invest.

Bottom Line

Working with an investment firm can help you grow your wealth. An investment firm can help you diversify your portfolio and avoid taking on too much risk. It can also take care of administrative details that you might find overwhelming. If you’re looking to grow your wealth, finding the right investment firm for you can help you achieve your financial goals.

Debt Capital: The Complete Guide To Borrowing Money For Your Business

When starting a business, capital can often feel like the final frontier. Whether you’re launching your company from home or starting from scratch as a brand-new venture, finding money to fund your ideas and new venture can be tricky. As an entrepreneur, you’ll almost certainly require capital to get your business up and running; whether that be funding for research and development, or perhaps cash to buy equipment, rent an office space, or purchase raw materials.

Failure to obtain sufficient capital at the right time could have a detrimental impact on your fledgling business and its future growth, but with the right knowledge and information, it needn’t be so tricky. This guide will provide you with all the insider secrets to successfully securing debt funding with the help of Joseph Stone Capital for your business.

The Benefits of Borrowing Money For Your Business

There are many benefits to borrowing money for your business. Before we go into detail on the specific benefits, it’s important to note that lending money for a business comes with certain legal obligations, namely the need to repay the loan. This is true for any type of debt funding from Joseph Stone Capital that you take, so it’s essential to be aware of this before you take out any loans. The benefits of borrowing money for your business are:

a) A Steady Flow of Liquidity – Capital is important for every business, but especially for startups where there is often a long wait for any return on investment. Debt financing can provide an immediate cash flow for your business.

b) No Out-of-Pocket Investment – When you borrow money for your business, you are not putting your own money into the business. Instead, you are using the debt to fund your operations, meaning there is no out-of-pocket risk.

c) Expand Your Business – Borrowing money for your business provides you with the opportunity to grow your business while maintaining control.

Why Is Debt Capital Important?

Debt capital is the lifeblood of any enterprise, big or small. It is especially important for smaller enterprises since an absence of debt can make it difficult to secure funding in the first place, as well as cripple businesses that are just starting. Debt capital allows businesses to secure new investments from external sources and is often used as a way to secure funding for growth. The debt can then be paid back over time with interest, although the interest on debt is tax-deductible. Debt capital is used across a range of different industries. However, how it is used varies depending on the type of business, as well as its stage of growth.

Conclusion

Debt capital is an essential part of any business and can be a great way to secure funding for your business. However, it is important to note that borrowing money for your business comes with certain legal obligations, including the need to repay the loan. Debt funding is often difficult to obtain due to many different factors, including lenders’ expectation that they’ll be able to get their money back promptly, and your business’s ability to repay the loan.

Why do Smart People Take Professional Help for Financial Planning

When you are building your financial future, you need to understand the various factors that can impact it. Financial planning is a process of understanding and managing these factors to achieve your financial objectives. The professionals who help you with this are known as financial planners.

Smart people take professional help because they know they need it! They know they will be able to get guidance on what they can do to make their money work harder for them, their short-term goals, and retirement savings. Smart people take professional help from Joseph Stone Capital because they understand how much advice and insight a trained advisor can bring to the table!

• Financial planning is a strategy for making money

• Financial planning is knowing your current situation

• Financial planning is knowing what you want to achieve

Financial planning is a strategy for making money

Investments can help you build up wealth. But financial planning is about more than just making money. Financial planning is a process that helps you make informed decisions about your short-term and long-term financial goals and how to best use your existing resources to achieve those goals. You can use financial planning to make decisions about your current finances and future financial goals, like paying off debt, saving for retirement, or funding a child’s education. Financial planning can help you create a budget, set long-term savings goals, and create a plan for paying off debt.

Knowing your current situation is the key

Financial planning starts with a clear understanding of your current financial situation — where you are today. This includes your current income, the amount you owe, your current savings, your short-term and long-term financial goals, and your attitude towards risk-taking. The advisor will ask you a lot of questions about your income, savings, and other factors related to your current situation. Your current situation also includes your attitudes towards risk. When you sit down with your advisor, one of the first things they will do is ask you about your financial attitudes towards risk.

Setting goals for future objectivity is also critical

Your financial plan will be unique to your situation, but there are some general types of plans that people often use. It will depend on your current situation and what you want to achieve. Your advisor will help you choose the best plan for your situation. If you want to maximize savings for retirement, you might choose a 401(k) plan. If you want to pay off a large amount of debt, you might choose a debt repayment plan. If you want to fund your child’s education, you might choose a 529 plan. Your advisor will help you understand the various options and make a selection based on your current situation and goals.

Bottom line

When you are building your financial future, you need to understand the different factors that can impact it. Financial planning is a process of understanding and managing these factors to achieve your financial objectives. The professionals who help you with this are known as financial planners. They are licensed advisors who have a thorough knowledge of all the different types of financial plans and will help you design a strategy that works for you. Smart people take professional help from Joseph Stone Capital because they know they need it!

Why Financial Planning at an Early Age is More Beneficial Than You Think

It is normal for young people to have a lot of questions about what their future holds and how they can get there. There are many financial planning milestones that young professionals need to address at some point in life, but not all of us think about them early enough. Financial planning at an early age is more beneficial than you think.

Financial planning provides a road map so you know where you’re going financially, how to get there, and how to manage your money optimally. In this article, we will discuss why financial planning at an early age is more beneficial than you think and the different ways in which you can start your financial planning journey right away with the help of Joseph Stone Capital.

Check Your Credit Score

A credit score is a three-digit score that is used to assess your creditworthiness. Those with good credit scores are more likely to get approved for mortgages, car loans, and credit cards. A low credit score can also lead to higher interest rates for your loans. Financial planning is about taking care of your future and having a low credit score can have a negative impact on your future. A credit score is not the same as your income. Income can decrease, but a credit score will stay the same for the rest of your life. It is important to check your credit score at least once a year to understand your financial condition.

Establish an Emergency Fund

An emergency fund is an amount of money set aside to help you deal with life’s unexpected events. These events can include unexpected medical expenses, repairs to your car, and job loss. No one can predict what life may bring you and an emergency fund can be beneficial in many ways. It can help you deal with everyday expenses and also reduce your overall financial stress. Before you start thinking about investing your money, it is important to have an emergency fund saved up.

Decide How You Want to Invest Your Money

Investing your money is one of the best ways to make your money work for you and reach your financial goals faster. You can choose a mix of different investment types and see what works best for you. You should also consider your risk tolerance level when deciding how you want to invest your money. Your risk tolerance level is your ability to deal with uncertainty and risk. You can contact Joseph Stone Capital LLC and find the best investment options.

Conclusion

Financial planning is more important than ever before because there are more risks and challenges today than ever before. There are many financial planning milestones that you need to be aware of, especially when you’re young and starting out. We hope that you find the information in this blog post useful and that it encourages you to start your financial planning journey right away. There is no time like the present to start preparing for your financial future.

Debt Financing Benefits for Your Business

Don’t let the word “debt” scare you. To finance a business, one borrows money from a lender or financial organization. Lenders expect interest in return for the money they lend, just like other loans. For business owners, taking on debt can be a cost-effective way to replenish their inventory, recruit new employees, buy real estate, or purchase equipment.

• The company’s Ownership

Debt financing has numerous advantages, including the fact that you will not have to give up control of your company. When you take out a loan, you pay the installments on time. Instead of giving up equity in the form of stock to acquire cash, you may be unsatisfied with outside influence on the course of the business if you do so.

• It May Get Required for Tax Deductions

Debt interest and principal payments may get written off. Such a loan’s interest and principal payments are deductible from your company’s tax obligations. Consult a tax expert or financial counselor if you have concerns about how debt affects your taxes. You can utilize the money you save on taxes as additional funding for your company.

Improves Your Credit Rating

One of the main factors contributing to small business failure is a lack of working capital. You’ll need business credit if you seek low-cost, long-term debt financing. Before you take a loan, you must have the potential to improve your company’s credit. By building a credit history for your small business, it is simpler to avoid using your credit or other expensive business financing options. According to Joseph Stone Capital, a strong credit rating may also enable you to negotiate better prices with your suppliers.

Aids with Business Expansion

Long-term debt can get utilized for a variety of purposes, including the purchase of inventory, the hiring of more staff members, the purchase of real estate, the expansion of infrastructure, and the rise of marketing expenses. If you obtain a low-interest, long-term loan, your company will have the working capital to function productively and profitably in the year. You might go above and above and work harder to get a loan to boost business profits. It will assist you in avoiding getting trapped in a cycle of borrowing and being bound to a financial attempt that will never be successful.

Reduces Debt Costs and Makes Savings

Many small business owners turn to expensive debt, such as bank loans or cash advances on their credit cards, to kickstart their enterprise. As a result, this type of debt may hinder the company’s capacity to run efficiently. Debt finance can cut monthly payments by hundreds or even thousands of dollars by paying off high-cost debt. You may improve your cash flow and manage your day-to-day business operations more successfully and efficiently by lowering your cost of capital, according to Joseph Stone Capital LLC.

You Keep the Money Made

In a business with debt financing, there are no creditors. Hence there is also no revenue sharing. Companies are not required to distribute profits to their creditors. Owners of businesses have the option to keep profits, which they can subsequently distribute however they see suitable.

How You Can Efficiently Manage Your Wealth With the Help of An Investment Firm

Wealth Management is a growing field with a lot of opportunities for those who are willing to learn about it and take action. There are a variety of investment firms that provide services in this area. You need to do your due diligence before choosing an investment firm; otherwise, you may end up getting scammed and losing money.

If you want to manage your wealth effectively and responsibly, then you should start by researching the different financial institutions available in your area. Once you have found a reputable firm, you will also want to work with them over time so that you can build trust and loyalty to get the best possible return on your investment portfolio. You don’t have to go it alone; it’s good to have a support network around you too. This article covers how you can efficiently manage your wealth with the help of an investment firm.

Find a Financial Advisor

First, find a financial advisor who is well acquainted with your investment strategy. You can likely find a few in your area who specialize in wealth management. You need a financial advisor who can help you navigate all of the different options available and find the right one for you. If you are not yet ready to choose an investment advisor, you can always hire one to help with your tax planning, estate planning, and retirement planning. Once you have found a good financial advisor, you can discuss your investment strategy and feelings towards different investment strategies and investment funds with him or her. You can contact the Joseph Stone Capital investment firm for financial needs.

Investigate the Different Options

Once you have found a good financial advisor, you will want to start looking into some of the different investment options available in your area. There are many different investment strategies you can choose from when it comes to managing your wealth. You can investigate strategies that involve Asset Allocation, Diversified Investment, Fixed Annuity, Grow Your Own Business, Long-Term Investment, and Many-Tailed Strategies. These are just a few of the many different strategies you can choose from.

Decide What Part of Your Wealth You Want to Manage

Once you have selected an investment strategy, the next step is to decide what part of your wealth you want to manage. A classic example of this would be someone interested in building a wealth of retirement accounts such as a 401(k) or a workplace retirement plan. In this situation, you would want to closely examine your investment strategy and determine if a certain type of fund or fund manager is right for your situation. Investment firm Joseph Stone Capital can help you with wealth management.

Conclusion

As you can see, wealth management is a highly lucrative field with plenty of opportunities for those who are willing to take the necessary steps to create a financially secure future. Fortunately, the process of becoming financially secure isn’t complicated and doesn’t require a ton of effort. All you need to do is to do your due diligence and find a financial advisor who can help guide you in the right direction.

Why Debt Financing is So Popular in the Business World?

Debt financing is one of the most useful tools a business can use to grow and expand its company. With debt financing, a business can obtain the capital they need to expand or improve its current facilities without having to worry about raising additional capital from venture capital or banks.

A business that can secure debt financing from market sources rather than from banks or other lenders is known as being in the black rather than in the red. This means that the business can repay its borrowings with interest and fees from customers, suppliers, and other businesses who are willing to make long-term contracts with the company.

How Does Debt Finance Work?

Debt financing is the use of money borrowed from a third party in exchange for a company’s debt. Whilst debt can be a disaster for a business when it is obtained through the regular channel, it is an incredibly useful tool when utilized correctly. When a business has obtained debt financing from a third party, it means that the business has agreed to make payments to the lender for a while.

However, unlike a direct loan from the government or a conventional loan from a private lender, the debt does not come with a note that says “pay me back in cash”. Instead, the company agrees to make payments to the lender until the debt is repaid. There are many types of debt financing, including corporate debt, commercial paper, money market funds, and bonds. You can take help from Joseph Stone Capital for debt financing.

Is It Better to Obtain Debt Finance from Banks or Venture Capitalists?

There are advantages and disadvantages to both types of lenders and it comes down to personal preference. If you are a smaller business looking to expand or look to borrow money to upgrade equipment or expand your operations, a bank loan may be a better option. For businesses with sufficient cash flow to make regular payments, a loan from a venture capital firm may be better.

Which Is Better, Bank Loans or Venture Capital Loans?

Venture capital loans are often much riskier than bank loans and are aimed at companies with strong financial prospects. However, since the fund acquiring the loan is almost guaranteed to go under in 5-10 years, the loan looks a lot like a government guarantee. Besides, banks are not allowed to make loan guarantees and will only make standard loans with standard interest rates and repayment dates. You would be happy to know that Joseph Stone Capital can help you with debt financing.

Summing up

Although debt financing is usually associated with banks and other lending institutions, it can also be used with venture capital firms. In this case, the loan is known as a venture capital loan. The key difference between a bank loan and a venture capital loan is that the former is structured as a commercial loan whilst the latter is structured as debt financing.

A bank loan is simply a loan from the bank and does not have any obligations attached to them. On the contrary, a venture capital loan has inherent risks since it is made with borrowed funds. However, since the debt does not have a repayment obligation, it is known as being in the black rather than in the red.