If the IRS follows the same rule for event-type CVRs, the issuer recognizes no gain or loss on the CVR issuance, the repurchase of the CVR, or the lapse of the CVR, but a target shareholder generally must recognize an immediate capital gain or loss taking into consideration the fair market value of the CVRs received on the date of distribution.

FORBES: Shadowy Shares: The Dark Side of Contingent Value Rights

While traditionally one would trade bonds to make such bets, by entering into either side of an interest rate swap agreement, you would gain immediate exposure to interest rate movements with virtually no initial cash outlay.

FORBES: Demystifying The Swap Market

Hong Kong spent heavily to promote the issue and also offered such goodies as a 5% discount to the market value of the stocks in the ETF at the ipo (so investors got, in effect, an immediate 5% gain).

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It may not gain the immediate force of law.

ECONOMIST: The Union expects Europe’s voters to fit its political space | The

Right now, though, there are more immediate concerns as Surrey look to gain their second Twenty20 crown in the third year of the competition.

BBC: Saturday, 30 July

It is hard to give up stimulus, because the immediate consequences are painful, but long-term gain has to be purchased by short-term discomfort.

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Much of our regulatory machinery was constructed in and for a bygone industrial age, where business change was as slow and expensive as policy change, and where a few companies could gain control over critical inputs to the immediate disadvantage of consumers.

FORBES: What Does Silicon Valley Need from Washington? Less.

In the immediate aftermath of the launch Microsoft got some stock price gain and there were suggestions that it might be benefiting from disarray at Apple.

FORBES: Has Microsoft Captured Some of Apple's Magic?

Munster thinks there would be little immediate impact on the Apple org chart from such a change, although he notes that key players would gain in stature inside the company, including product design guru Jonathan Ive.

FORBES: What Happens To Apple's Stock If Steve Can't Return?