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Superglossary - Finance Category: Economy and Finance > Finance Date & country: 16/12/2013, USA Words: 5410

Group Sales
A top-down manager who deduces the phases of the business cycle and allocates assets accordingly.

Group Universal Life Policy (GULP)
Block sale (of large amounts) of securities to institutional investors.

Growing Equity Mortgage (GEM)
Universal life insurance on a group basis. See

Growing Perpetuity
Mortgage with a fixed interest rate and payments that increase throughout the term of the mortgage.

Growth And Income Fund
A constant stream of cash flows without end that is expected to rise indefinitely.

Growth Fund
A mutual fund that invests primarily in stocks with a history of capital gains (growth) and consiste

Growth Manager
A mutual fund that invests primarily in stocks with a history of and future potential for capital ga

Growth Opportunity
A money manager who seeks to buy stocks that typically sell at relatively high P/E ratios due to hig

Growth Phase
Opportunity to invest in profitable projects.

Growth Rates
A phase of development during which a company experiences rapid earnings growth as it produces new p

Growth Stock
Compound annual growth rate for the number of full fiscal years shown. If there is a negative or zer

Guarantee
Common stock of a company that has an opportunity to invest money and earn more than the opportunity

Guarantee Letter
The assumption of responsibility for payment of a debt or performance of some obligation if the liab

Guaranteed Bond
A commercial bank's letter assuring payment of the exercise price of a client's put option.

Guaranteed Insurability
A type of bond for which a firm other than the issuer guarantees its interest and principal payments

Guaranteed Insurance Contract
A life and health insurance policy feature that enables the insured to add coverage at future times

Guarantor Program
A policy that covers the full cost of replacing damaged property without any allowances or deduction

Gun Jumping
Under the Freddie Mac program, the aggregation by a single issuer (usually an S&L) for the purpose o

Gunslinger
In the context of securities trading, refers to trading in a security on the basis of information th

Haircut
Fifth letter of a Nasdaq stock symbol specifying that the issue is the second preferred bond of the

Half-Life
The margin or difference between the actual market value of a security and the value assessed by the

Half-Stock
The point in the life of a mortgage-backed security guaranteed or issued by the Government National

Hammering The Market
Stock, common or preferred, with a $50 par value.

Handle
Heavy selling of stocks by speculators who think that the stock is overvalued and is about to drop.

Hands-Off Investor
The whole-dollar price of a bid or offer is referred to as the handle (e.g., if a security is quoted

Hands-On Investor
An investor who has a large stake in a company, but does not wish to play an active role in the mana

Hang Seng Index
An investor who has a large stake in a corporation and takes an active role in its management. Antit

Hard Capital Rationing
The major index in Hong Kong.

Hard Currency
A capital budget that under no circumstances can be violated.

Hard Dollars
A freely convertible currency that is not expected to depreciate in value in the foreseeable future.

Harmless Warrant
Actual separate payments made by a customer for services, including research, provided by a brokerag

Hart-Scott-Rodino Act
Warrant that allows the user to purchase a bond only by surrendering an other bond with similar term

Harvey, Campbell R.
Often used in risk arbitrage. Antitrust act administered by U.S. Department of Justice and the FTC t

Head and Shoulders
Finance professor at Duke University. Author of research on international finance, asset allocation,

Heavy
In technical analysis, a pattern that results where a stock price reaches a peak and declines; rises

Hedge
An equities market now dominated by sellers, or oversupply, resulting in falling prices. See

Hedge Clause
A transaction that reduces the risk of an investment.

Hedge Fund
A clause in a research report or any published document, that attempts to absolve the writer of resp

Hedge Ratio (Delta)
A fund that may employ a variety of techniques to enhance returns, such as both buying and shorting

Hedge Wrapper
For options, ratio between the change in an option's theoretical value and the change in price of th

Hedged Portfolio
An options strategy in which an investor with a long position in an underlying stock buys an out-of-

Hedged Tender
A portfolio consisting of a long position in the stock and a long position in the put option on the

Hedgie
An investor sells a portion of a stock holding short a tender offer in the event all shares tendered

Hedging
Slang for a hedge fund.

Hedging Demands
A strategy designed to reduce investment risk using call options, put options, short-selling, or fut

Held At The Opening
Demands for securities to hedge particular sources of consumption risk, beyond the usual mean-varian

Held Order
Used for listed equity securities. Not open for trading because specialists or regulators are not al

Hell-Or-High-Water Contract
Order that must be executed without hesitation (Hit the bid or take the offer in line) or if the sto

Helsinki Exchanges (HEX)
A contract that obligates a purchaser of a project's output to make cash payments to the project in

Hemline Theory
The Helsinki Exchanges (HEX Ltd., Helsinki Securities and Derivatives Exchange and Clearing House) w

Herstatt Risk
A theory that stock prices move in the same direction as the hemlines of women's dresses. For exampl

HIBOR
Quotron display page that shows new listed inquiries/orders received after the block call.

Hidden Load
Hong Kong Interbank Offer Rate, the annualized offer rate banks pay to attain Hong Kong three-month

Hidden Values
A sales charge that is not explicitly disclosed or is buried in the fine print of a mutual fund pros

High Credit
Valuable assets owned by a company, that are not accurately reflected in its stock price at a partic

High Current Income Mutual Fund
The maximum amount of outstanding loans for a particular customer on a bank's record.

High Flyer
A mutual fund whose primary goal is to produce a high level of income by making higher-risk investme

High Price
High-priced and highly speculative stock that moves up and down sharply over a short period. General

High-Coupon Bond Refunding
The highest (intraday) price of a stock over the past 52 weeks, adjusted for any stock splits.

High-Grade Bond
Replace a high-coupon bond with a new, lower-coupon bond.

High-Premium Convertible Debenture
Bank loan to a highly leveraged firm.

High-Tech Stock
Stocks that have hit an all-time high for the current 52-week time period.

Highjacking
A bond with Triple-A or Double-A rating in Standard & Poor's, or Moody's rating system.

Highly Confident Letter
Japanese term for a takeover.

Highly Leveraged Transaction (HLT)
An investment banking firm's letter indicating that the firm is highly confident it will be able to

Highs
A bond with a long-term, high-premium, common stock conversion feature. It also offers a competitive

Historical Cost
Stocks of companies operating in high-technology fields.

Historical Exchange Rate
Describes the accounting cost carried in the books for a current cost of the item.

Historical Trading Range
An accounting term that refers to the exchange rate in effect at the time an asset or liability is a

Historical Yield
The range of price over which a security or a commodity has traded since listing on a exchange.

Hit The Bid
A measure of a mutual fund's yield over a specific period of time, e.g., 1 year, 2 year, 5 year, or

Hold
A dealer who agrees to sell at the bid price quoted by another dealer is said to 'hit' that bid. Ant

Holder Of Record Date
To maintain ownership of a security over a long period of time. 'Hold' is also a recommendation of a

Holding Company
The date on which holders of record in a firm's stock ledger are designated as the recipients of eit

Holding Period
A corporation that owns enough voting stock in another firm to control management and operations by

Holding The Market
Length of time a security is held.

Holding-Period Return
The illegal practice of maintaining and/or placing a sufficient number of buy orders to create price

Home Run
Rate of return on an investment over a given period.

Homemade Dividend
Large capital gain in a stock in a short period of time.

Homemade Leverage
Sale of some shares of stock to get cash in an amount similar to that of a cash dividend.

Homeowners Equity Account
Idea that as long as individuals borrow (or lend) on the same terms as the firm, they can duplicate

Homeowners Insurance Policy
A credit line offered by mortgage lenders allowing a homeowner a second mortgage that uses the equit

Homogeneity
An insurance policy protecting a homeowner against damage or loss to property.

Homogeneous
The degree to which items are similar.

Homogeneous Expectations Assumption
Exhibiting a high degree of homogeneity.

Hong Kong Futures Exchange (HKFE)
An assumption of Markowitz portfolio construction that investors have the same expectations with res

Horizon Analysis
Established in 1976, the Hong Kong Futures Exchange (H.K.F.E.) operates futures and options markets

Horizon Return
An analysis of returns using total return to assess performance over some investment horizon.

Horizontal Acquisition
Total return over a given horizon.

Horizontal Analysis
Merger between two companies producing similar goods or services.

Horizontal Merger
The process of dividing each expense item of a given year by the same expense item in the base year.

Horizontal Price Movement
A merger involving two or more firms in the same industry that are both at the same stage in the pro

Horizontal Spread
Stock price movement within a narrow price range over an extended period of time which creates the a

Hospital Revenue Bond
The simultaneous purchase and sale of two options that differ only in their exercise dates.

Host Security
A bond issued to finance construction of a hospital by a municipal or state agency.

Hostile Takeover
The security to which a warrant is attached.

Hot
A takeover of a company against the wishes of the current management and the board of directors by a

Hot Money
Used in the context of general equities. Active, usually with positive price implications.

House
Money that moves across country borders in response to interest rate differences and that moves away

House Account
Firms that conduct business as broker-dealers in securities or in the investment banking field are c