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Superglossary - Finance
Category: Economy and Finance > Finance
Date & country: 16/12/2013, US
Words: 5424


Bot
Shorthand for bought. Antithesis of SL, meaning sold.

Bottom
Refers to the base support level for market prices of any type. Also used in the context of securiti

Bottom Fisher
An investor seeking stocks that have fallen to prices at or near their bottom, which he or she belie

Bottom-Up Equity Management Style
A management style that de-emphasizes the significance of economic and market cycles, focusing inste

Bought Deal
Security issue in which one or two underwriters buy the entire issue.

Bounce
A check returned by a bank because it is not payable, usually because of insufficient funds. Also us

Bourse
French for a stock market.

Boutique
A small, specialized brokerage firm that offers limited services and products to a limited number of

Box
The actual physical location at a brokerage house or bank where securities or other documents are st

Bracket
A term signifying the extent of an underwriter's commitment in a new issue, e.g., major bracket or m

Bracket Creep
The gradual movement into higher tax brackets when incomes increase as a result of inflation.

Brady Bonds
Bonds issued by emerging countries under a debt reduction plan.

Branch
An operation in a foreign country incorporated in the home country.

Breadth Of The Market
In the context of general equities, percentage of stocks participating in a particular market move.

Break
A rapid and sharp price decline. Related

Break Price
Used in the context of general equities. Change one's offering or bid prices to move to a more reali

Break-Even Analysis
An analysis of the level of sales at which a project would make zero profit.

Break-Even Lease Payment
The lease payment at which a party to a prospective lease is indifferent between entering and not en

Break-Even Payment Rate
The prepayment rate of an MBS coupon that will produce the same cash flow yield (CFY) as that of a p

Break-Even Point
Refers to the price at which a transaction produces neither a gain nor a loss. In the context of opt

Break-Even Tax Rate
The tax rate at which a party to a prospective transaction is indifferent between entering into and

Break-Even Time
Related

Breakeven Analysis
An analysis tool that models how revenue, expenses, and profit vary with changes in sales volume. Br

Breakeven Point
The sales level at which revenues equal expenses (fixed and variable).

Breaking The Syndicate
Terminating an agreement among underwriters, specifically the investment banking group assembled to

Breakout
A rise in a security's price above a resistance level (commonly its previous high price) or a drop b

Breakpoint Sale
For mutual funds, refers to the investment amount necessary to make the fundholder eligible for a re

Breeden, Douglas T.
Inventor of one of the foundational asset pricing models in finance, the consumption based capital a

Bretton Woods Agreement
An agreement signed by the original United Nations members in 1944 that established the Internationa

Bridge Financing
Interim financing of one sort or another used to solidify a position until more permanent financing

Bring It Out
In the context of general equities, 'make stock available for sale to indicated buyers.'

British Clearers
The large clearing banks that dominate deposit taking and short-term lending in the domestic sterlin

Broad Tape
An expanded version of the ticker tape, which is displayed on a screen in the board room of a broker

Broken Up
Used for listed equity securities. Prevented from executing a trade (committed to upstairs) due to e

Broker
An individual who is paid a commission for executing customer orders. Either a floor broker who exec

Broker Loan Rate
Related

Brokered CD
A certificate of deposit issued by a bank or thrift institution bought by a brokerage firm in bulk f

Brokered Market
A market in which an intermediary offers search services to buyers and sellers.

Brought Over The Wall
Compelling a research analyst of an investment bank to work in the underwriting department for a cor

Brussels Stock Exchange (BSE)
Stock exchange that handles the majority of securities transactions in Belgium.

Bubble Theory
Security prices sometimes move wildly above their true values, or the price falls sharply until the

Buck
Slang for one million dollars.

Bucket Shop
An illegal brokerage firm that accepts customer orders but does not attain immediate executions. A b

Budget
A detailed schedule of financial activity, such as an advertising budget, a sales budget, or a capit

Budget Deficit
The amount by which government spending exceeds government revenues.

Budget Surplus
The amount by which government revenues exceed government spending.

Budgeting
The process of determining and recording the expected financial results of a future period, generall

Build A Book
In the context of general equities, develop customer orders to gather demand/supply in order to make

Builder Buydown Loan
A mortgage loan on newly developed property that the builder subsidizes during the early years of th

Bulge
A short-lived stock price increase. Synonymous with bubble.

Bulge Bracket
A tier of firms in an underwriting syndicate that have the highest participation level. See

Bull
An investor who thinks the market will rise. Related

Bull CD
A bull CD pays its holder a specified percentage of the increase in return on a specified market ind

Bull Market
Any market in which prices are in an upward trend.

Bull Spread
A spread strategy in which an investor buys an out-of-the-money put option, financing it by selling

Bull-Bear Bond
Bond whose principal repayment is linked to the price of another security. The bonds are issued in t

Bulldog Bond
Foreign bond issue made in London.

Bulldog Market
The foreign market in the United Kingdom.

Bullet Contract
A guaranteed investment contract purchased with a single (one-shot) premium. Related

Bullet Loan
A bank term loan that calls for no amortization.

Bullet Strategy
A fixed income strategy in which a portfolio is constructed so that the maturities of its securities

Bullion Coins
Metal coins consisting of gold, silver, platinum, or palladium that are actively traded. Some exampl

Bullish
Words used to describe investor attitudes. Bullish refers to an optimistic outlook, while bearish me

Bump-Up CD
A certificate of deposit granting the owner the right to increase its yield one time for the remaini

Bunching
Describes the act of traders combining round-lot orders for execution at the same time. Bunching can

Bundling, Unbundling
Creation of securities either by combining primitive and derivative securities into one composite hy

Burn Rate
Used in venture capital financing to refer to the rate at which a start-up company expends capital t

Burnout
Depletion of a tax shelter's benefits. In the context of mortgage backed securities it refers to the

Business Cycle
Repetitive cycles of economic expansion and recession. The official peaks and troughs of the U.S. cy

Business Day
A day in which financial markets are open for trading.

Business Failure
A business that has terminated operations with a loss to creditors.

Business Risk
The risk that the cash flow of an issuer will be impaired because of adverse economic conditions, ma

Business Segment Reporting
Reporting the results of the separate divisions or subsidiaries of a business.

Bust-Up Takeover
A leveraged buyout in which the buyer sells off the assets of the target_company to repay the debt t

Busted Convertible
Related

Butterfly
In the context of equities, a firm with two divisions may split into two companies and issue origina

Butterfly Shift
A nonparallel shift in the yield curve involving the height of the curve.

Butterfly Spread
Applies to derivative products. Complex option strategy that involves selling two calls and buying t

Buy
To purchase an asset; taking a long position.

Buy In
To cover, offset, or close out a short position. Related

Buy Limit Order
A conditional trading order that indicates a security may be purchased only at the designated price

Buy Minus Order
In the context of general equities, rare market or limit order to buy a stated amount of a stock, pr

Buy On Close
Buying at the end of the trading session at a price within the closing range.

Buy On Margin
Borrowing to buy additional shares, using the shares themselves as collateral.

Buy On Opening
Buying at the beginning of a trading session at a price within the opening range.

Buy On The Bad News
Buying stock shortly after a price drop resulting from bad news from the company. Investors believe

Buy Order
An order to a broker to purchase a specific quantity of a security.

Buy Stop Order
A buy order not to be executed until the market price rises to the stop price. Once the security has

Buy The Book
An order, typically from a large institutional investor to a broker to purchase all the shares avail

Buy Them Back
Used for listed equity securities. 'Cover my short position.

Buy-And-Hold Strategy
A passive investment strategy with no active buying and selling of stocks from the time the portfoli

Buy-And-Write Strategy
An options strategy that calls for the purchase of stocks and the writing of covered call options on

Buy-Side Analyst
A financial analyst employed by a nonbrokerage firm, typically one of the larger money management fi

Buyback
The covering of a short position by purchasing a long contract, usually resulting from the short sal

Buydowns
Mortgages in which monthly payments consist of principal and interest. During the early part of the

Buyers Market
Market in which the supply exceeds the demand, creating lower prices. Antithesis of seller's_market.

Buyers-Sellers On Balance
Used for listed equity securities. Indicates that at a given time (usually before the opening of a s

Buying Climax
A rapid rise in the price of a stock resulting from heavy buying, which usually creates the market c

Buying Power
The amount of money available to buy securities, determined by adding the total cash held in brokera

Buying The Index
Purchasing the stocks in the S&P 500 in the same proportion as the index to achieve the same return.