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

Sharpe Benchmark
A statistically created benchmark that adjusts for a manager's index-like tendencies. Named after Wi

Sharpe Ratio
A measure of a portfolio's excess return relative to the total variability of the portfolio. Related

Shelf Offering
Offering of registered securities covered by a prospectus whose distribution is not underwritten on

Shelf Registration
A procedure that allows firms to file one registration statement covering several issues of the same

Shell Corporation
An incorporated company with no significant assets or operations, often formed to obtain financing b

Shirking
The tendency to do less work when the return is smaller. Owners may have more incentive to shirk if

Shogun Bond
Dollar bond issued in Japan by a nonresident.

Shootout
Venture capital jargon. Refers to two or more venture capital firms fighting for the startup.

Shop
Wall Street slang for a firm.

Shopped Stock
Sell inquiry that has been seen by or shown to other dealers before coming to an investment bank.

Shopping
Seeking to obtain the best bid or offer available by calling a number of dealers and/or brokers.

Short
One who has sold a contract to establish a market position and who has not yet closed out this posit

Short Bonds
Bonds with short (not much time to maturity) current maturities.

Short Coupon:


Short Covering
A bond payment covering less than six-months' interest, because the original issue date is less than

Short Exempt
Used in the context of general equities. Actual purchase of securities by a short seller to replace

Short Hedge
Used for listed equity securities. A special trading situation where a short sale is allowed on a mi

Short Interest
The sale of futures contracts to eliminate or lessen the possible decline in value of an approximate

Short Interest Theory
Total number of shares of a security that investors have sold short and that have not been repurchas

Short Position
The theory that a large interest in short positions in stocks will precede a rise in the market pric

Short Sale
Number of shares of a security that investors have sold short divided by average daily volume of the

Short Selling
Selling a security that the seller does not own but is committed to repurchasing eventually. It is u

Short Settlement
Establishing a market position by selling a security one does not own in anticipation of the price o

Short Squeeze
Trade settlement made prior to the standard five-day period due to customer request.

Short Straddle
When a lack of supply tends to force prices upward. In particular, when prices of a stock or commodi

Short Tender
A straddle involves both purchase and sale. In short straddle one put and one call are sold.

Short-Run Operating Activities
The risk of falling short of any investment target.

Short-Sale Rule
Events and decisions concerning the short-term finance of a firm, such as how much inventory to orde

Short-Short Test
An SEC rule requiring that short sales be made only in a market that is moving upward; this means ei

Short-Term
A repealed IRS restriction, that used to limit profits from short-term trading, which three months,

Short-Term Bond Fund
Any investments with a maturity of one year or less.

Short-Term Borrowing
A bond mutual fund holding short to intermediate-term bonds that have maturities of three to five ye

Short-Term Debt
Liabilities that represent money borrowed from banks or other institutions to fund the ongoing opera

Short-Term Financial Plan
Debt obligations, recorded as current liabilities, requiring payment within the year.

Short-Term Gain (Or Loss)
A financial plan that covers the coming fiscal year.

Short-Term Investment Services
A profit or loss realized from the sale of securities held for less than a year that is taxed at nor

Short-Term Solvency Ratios
Services that assist firms in making short-term investments.

Short-Term Tax Exempts
Ratios used to judge the adequacy of liquid assets for meeting short-term obligations as they come d

Shortage Cost
Practice prohibited by SEC that involves the use of borrowed stock to respond to a tender offer.

Shortfall Risk
Costs that fall with increases in the level of investment in current assets.

Show And Tell List
Short-term securities issued by states, municipalities, and quesi-government entities such as local

Show Me Buyer-Seller
Used in the context of general equities. Block list which is full of real customer indications (rath

Show Stopper
Used in the context of general equities. Customer who has not placed a firm order to buy stock but h

Shrinkage
A legal barrier, such as a scorched-earth policy or shark repellant system, that firms use to preven

Shut Out The Book
Discrepancy between a firm's actual inventory and its recorded inventory due to theft, deterioration

SIC Code
Used for listed equity securities. Exclude a public bid or offer from participation in a print.

Side Effects
The four-digit code prescribed by the Standard Industrial Classification System to categorize busine

Side-By-Side Trading
Effects of a proposed project on other parts of the firm.

Sidelines
Trading a security and an option on the same security on the same exchange.

Sight Draft
Hypothetical position referring to noninvolvement in a stock; merely watching.

Signal
Demand for immediate payment.

Signaling Approach
To convey information through a firm's actions. The more costly it is to provide a signal, the more

Signature Loan
The argument that dividend changes are important signals to investors about changes in management's

Significant Influence
A good faith loan that is unsecured and requires only the borrower's signature on the loan applicati

Significant Order
The holding of a large portion of the equity of a corporation, usually at least 20%, which gives the

Significant Order Imbalance
An order to buy or sell a large enough quantity of securities that the price of the security may be

Silent Partner
A large number of buy or sell orders for a stock that cause an abnormally wide spread between bid an

Simple Compound Growth Method
A partner in a business who has no role in management but shares in the liability, tax responsibilit

Simple Interest
Calculating a growth rate by relating terminal value to initial value and assuming a constant percen

Simple IRA
Interest calculated as a simple percentage of the original principal amount. Compare to compound int

Simple Linear Regression
A salary deduction plan for retirement benefits provided by some small companies with no more than 1

Simple Linear Trend Model
A regression analysis between only two variables, one dependent and the other explanatory.

Simple Moving Average
An extrapolative statistical model that asserts that earnings have a base level and grow at a consta

Simple Prospect
The mean, calculated at any time over a past period of fixed length.

Simple Rate Of Return
An investment opportunity in which only two outcomes are possible.

Simulation
A pension plan in which both the employee and the employer contribute to an individual retirement ac

Single Option
A leading futures and options exchange in Singapore.

Single-Country Fund
A single put option or call option, as opposed to a spread or straddle, which involves multiple puts

Single-Factor Model
A mutual fund that invests in individual countries outside the United States.

Single-Index Model
A model of security returns that acknowledges only one common factor. The single factor is usually t

Single-Payment Bond
A model of stock returns that decomposes influences on returns into a systematic factor, as measured

Single-Premium Life Insurance
An IRA-like annuity into which an investor makes a lump-sum payment that is invested in either a fix

Single-State Municipal Bond Fund
A whole life insurance policy requiring one premium payment, which accrues cash value much more quic

Sinker
A mutual fund investing only in government obligations within a single state, with state tax-free di

Sinking Fund
A bond with interest and principal payments coming from the proceeds of a sinking fund.

Sinking Fund Requirement
A fund to which money is added on a regular basis that is used to ensure investor confidence that pr

Sit Tight
A condition included in some corporate bond indentures that requires the issuer to retire a specifie

Size
Directive from the trader to the customer to be patient, emphasizing that one's piece of business wi

Size Out The Book
Refers to the magnitude of an offering, an order, or a trade. Large as in the size of an offering, t

Skewed Distribution
Overt action to exclude a public bid or offer from participation in a print through trading a larger

Skewness
Probability distribution in which an unequal number of observations lie below (negative skew) or abo

Skip-Day Settlement
Negative skewness means there is a substantial probability of a big negative return. Positive skewne

Skip-Payment Privilege
Settling a trade one business day beyond what is normal.

SLD Last Sale
A mortgage contract clause giving borrowers the right to skip payments if they are ahead of schedule

Sleeper
Shortened version of 'sold last sale,' which shows up on the consolidated tape when a large change (

Sleeping Beauty
Stock in which there is little investor interest but that has significant potential to gain in price

Slippage
Often used in risk arbitrage. Potential takeover target that has not yet been approached by an acqui

Slump
The difference between estimated transactions costs and actual transactions costs. The difference us

Small Investor
A temporary fall in performance, often describing consistently falling security prices for several w

Small Issues Exemption
An individual person investing in small quantities of stock or bonds. This group of investors makes

Small Order Execution System (SOES)
Securities issues that involve less than $1.5 million are not required to file a registration statem

Small-Cap
Three-tiered system of automatic execution of an order at the best price. Size is either 200, 500, o

Small-Firm Effect
A stock with a small capitalization, meaning a total equity value of less than $500 million.

Smart Money
The tendency of small firms (in terms of total market capitalization) to outperform the stock market

Smidge
Investors who make consistent profits in the market, regardless of the investing environment, by mak

Smithsonian Agreement
Small amount of price, usually +/- 1/8 or 1/4.

Snowballing
A revision to the Bretton Woods international monetary system that was signed at the Smithsonian Ins

Socially Conscious Mutual Fund
Program financed by the Social Security tax to provide assistance to disabled individuals with disab

Soft Capital Rationing
A dedicated computer network to support funds transfer messages internationally between over 900 mem

Soft Currency
Constraints on spending that under certain circumstances can be violated or even viewed as constitut