price-earnings ratio

price-earnings ratio (plural price-earnings ratios)

(finance) The ratio of share price to earnings per share used as an indication of the relative value of the share.


consol

Since it was arguably the most successful bond ever issued, it is worth pausing to look more closely at the famed British consol.

2008, Niall Ferguson, The Ascent of Money, Penguin, page 76:

(historical, finance) Abbreviation of consolidated annuity.: A perpetual bond issued by the United Kingdom, from the 18th century.


carryback

Current theft loss rules typically allow losses to be carried back three years and forward 20 years, but the I.R.S plan will allow carrybacks of as many as five years, generally if the loss is for a small business with gross annual receipts of less than $15 million.

2009 March 18, Lynnley Browning, “I.R.S. Plans a Deduction for Madoff Victims”, in New York Times:

(accounting, taxation) An income tax loss or credit that can be applied to offset previously taxed income or taxes paid, respectively.


unhedged

A hedge fund is supposed to hedge against market movements by unhedged instruments.

2007 August 26, Ben Stein, “Avoid the Craziness and No One Gets Hurt”, in New York Times:

(finance) Not hedged; not offset or counterbalanced.


carryforward

(accounting, taxation) An income tax loss or credit not usable in the current year that can be applied to offset income or taxes paid, respectively, in subsequent tax years.


auditee

(management, accounting, taxation) One subjected to an audit.


MPT

Modern portfolio theory
w:Modern portfolio theory

(finance) Initialism of Modern portfolio theory.


CAPM

capital asset pricing model
w:capital asset pricing model

(finance) Initialism of capital asset pricing model.


systematic risk

en-noun

systematic risk (usually uncountable, plural systematic risks)

(finance) The risk associated with an asset that is correlated with the risk of asset markets generally, often measured as its beta.

market risk

risk correlated with asset markets generally


pre-packaged bankruptcy

pre-packaged bankruptcy (countable and uncountable, plural pre-packaged bankruptcies)

(finance, banking) A filing for bankruptcy by submitting to the court a virtually complete plan designed to avoid a protracted court-guided period of reorganization and debt restructuring.


par yield

(finance) The yield for which the price of a bond is equal to its nominal value (par value).


tippee

If tippees trade on the information, knowing it was given improperly, they, too, can be found guilty of insider trading, says attorney Jared Kopel

2002 October 17, “Tips on insider trading How an investor can avoid the problems”, in San Francisco Chronicle:

(US, law, finance) A recipient of inside information.


inside information

Must a corporation issue a news release if it becomes aware that material inside information has leaked out? "It should make an immediate announcement,"

1968 September 12, “SEC Calls 'Insider' Cases Beneficial to Public”, in New York Times:

Recently, the hedge-fund industry has been shaken by allegations that it exploits inside information.

2011 July 18, John Cassidy, “Mastering the Machine”, in The New Yorker, →ISSN:

(US, law, finance) Information obtained by or from a person in a position of trust (a director, an employee, a consultant) that affects the price of publicly traded securities.

內幕信息 /内幕信息

information obtained by or from a person in a trusted position


gross sales

NetSales=GrossSales-(CustomerDiscounts,Returns,Allowances)

(plural only, business, accounting) The total invoice value of sales, before deducting customers' discounts, returns, or allowances.

銷貨總額 /销货总额

total sales before deducting discounts etc.


forgeable

en-adj

forgeable (comparative more forgeable, superlative most forgeable)

more forgeable (comparative)
most forgeable (superlative)

(of signatures, money, etc.) That can be forged (counterfeited).


pay stub

Girl, I can buy yo' ass the world with my paystub

(business, finance) Paper provided by employer to an employee as an indication of payment of wages or salary; it generally includes details such as the amount of tax withheld, and is attached to the payment if by check.


first in first out

(accounting) A method of inventory accounting that values items withdrawn from inventory at the cost of the oldest item assumed to remain in inventory.


GEB

guaranteed equity bond
guaranteed equity bond#English

(British, finance) Initialism of guaranteed equity bond.


Great Depression

For the first time since the Great Depression, median family income has fallen substantially over an entire decade. Income grew slowly through most of the last decade, except at the top of the distribution, before falling sharply when the financial crisis began.

2012 October 24, David Leonhardt, “Standard of Living Is in the Shadows as Election Issue”, in The New York Times, →ISSN:

(economics, business, finance, historical) A major economic collapse characterized by mass unemployment and limited business activity that lasted from 1929 to 1940 in the US and a similar period in many other countries.


mortgage bond

(finance) A bond secured by a lien on real estate.


CDO

The problem is that the connection between subprime default rates, on the one hand, and CDO valuations and default rates, on the other, is so complex that it's very difficult to say in a simple sense that a rise in mortgage defaults will lead to a rise in CDO defaults.

2007 June 28, “How bad is it?”, in The Economist, →ISSN:

These CDOs had been so sliced and diced that it was possible to claim that a tier of the interest payments from the original borrowers was as dependable as a stream of income on a ten-year US Treasury bond, and therefore worthy of a coveted triple-A rating.

2008, Niall Ferguson, The Ascent of Money, Penguin, page 8:

collateralized debt obligation
collateralized debt obligation#English

(finance) Initialism of collateralized debt obligation.


guaranteed equity bond

en-noun

guaranteed equity bond (plural guaranteed equity bonds)

Thus what is sometimes called a ladder structure can be created which can be added to the zero coupon bond to create an attractive guaranteed equity bond

1997, Les Clewlow with Chris Strickland, Exotic Options: The State of the Art, page 26:

This landscape suits very well the traditional guaranteed equity bond structure, which is the mainstay of the equity structured retail product market

(British, finance) A type of investment that returns a fixed portion of the principal plus the result of equity trading with the balance.


IB

investment banking
investment banking#English

(finance) Initialism of investment banking.


anti-avoidance

(finance) That counters the avoidance of paying tax.


over-hedging

(finance) speculative hedging for an excessive amount


under-hedging

LL-Q1860 (eng)-Flame, not lame-under-hedging.wav

(finance) Hedging to an insufficient extent, such that some future risk remains.


tangible asset

(accounting) Any asset, such as buildings, land, equipment etc., that has physical form.


CML

capital market line
capital market line#English

(finance) Initialism of capital market line.


capital market line

capital market line (plural capital market lines)

(finance) A line representing the relationship between expected return and standard deviation.


arbitrage pricing theory

arbitrage pricing theory (countable and uncountable, plural arbitrage pricing theories)

arbitrage pricing model
arbitrage pricing model

(finance) A theory of asset pricing serving as a framework for the arbitrage pricing model.


SML

Security Market Line
security market line#English

(finance) Initialism of Security Market Line.


arbitrage pricing model

arbitrage pricing model (plural arbitrage pricing models)

(finance) An asset pricing model using one or more common factors to price returns. With only one factor, representing the market portfolio, it is called a single factor model. With two or more factors, it is called a multifactor model.


APM

APM (countable and uncountable, plural APMs)

arbitrage pricing model
arbitrage pricing model#English

(finance, countable) Initialism of arbitrage pricing model.


stress test

LL-Q1860 (eng)-Flame, not lame-stress test.wav

(banking, finance) A test of an organization's ability to meet its financial obligations in adverse financial circumstances.


stocklike

en-adj

stocklike (comparative more stocklike, superlative most stocklike)

more stocklike (comparative)
most stocklike (superlative)

BOND investors seldom find themselves reveling in fancy, stocklike gains.

2007 January 7, Robert D. Hershey, “Where’s the Party? In Emerging Markets”, in New York Times:

(finance) Resembling a stock (capital raised through shares) or stocks, or some aspect of stock trading.


hyperinflated

hyperinflated (comparative more hyperinflated, superlative most hyperinflated)

more hyperinflated (comparative)
most hyperinflated (superlative)

There’s nothing modern about Red Lodge, which resembles a scaled-down version of Park City, Utah, minus the luxury vehicles, designer ski outfits and hyperinflated housing prices.

2007 January 19, Alicia Ault, “Miner’s Shacks, Mansions and the Real-Life West”, in New York Times:

(finance) Increased through hyperinflation.


stockjobbing

en-noun

stockjobbing (usually uncountable, plural stockjobbings)

poor Kendall had a hard time of it to stop them at last, as Amos will to stop the mouths of the people about his stockjobbing.

1834, David Crockett, A Narrative of the Life of, Nebraska, published 1987, page 20:

(trading, dated) Making markets in equity securities; dealing in stocks and shares.


cega

(finance) A measure of derivative price sensitivity with respect to changes in the correlation between the underlying assets in a multi-asset option.


refi

refi (countable and uncountable, plural refis)

“With the inflation rate set to remain dampened for the foreseeable future and the credit downturn in full swing, we see a strong case for a steady refi rate throughout 2010,” said Tullia Bucco, an economist at UniCredit Markets & Investment Banking in Milan.

2009 September 1, Matthew Saltmarsh, “Price Declines in Europe Seen to Be Moderating”, in New York Times:


trade acceptance

trade acceptance (plural trade acceptances)

(business, banking, finance) A negotiable instrument in the course of international trade similar to a Banker's Acceptance (BA) except it is drawn on and accepted by a buyer/importer (as opposed to a bank). May be sold to a bank or investor at a discount becoming a marketable money-market instrument.


banker's acceptance

banker's acceptance (plural banker's acceptances)

(business, banking, finance) A negotiable instrument or time draft drawn on and accepted by a bank, that upon acceptance becomes an obligation of the bank and is a marketable money-market instrument.


shadow banking

(derogatory, banking, economics, finance) Bank-like activities that are not subject to existing bank regulation.


money market fund

money market fund (plural money market funds)

(finance) A mutual fund (US) that invests almost exclusively in short-term money market instruments whose value is deemed unlikely to fluctuate.

peningamarkaðssjóður

fund that invests in short-term money market instruments


stock picker

(finance) Alternative spelling of stockpicker


stockpicker

Every year Forbes magazine asks some of America's top stock pickers to name their single favorite equity for the upcoming 12 months.

1985 May 26, Brendan Boyd, “Last year's top sages return to attempt an instant replay”, in Spokesman-Review, Spokane, USA, retrieved 2009-05-28:

Indeed, with Europe mired in recession and the U.S. barely stirring, many stockpickers believe Asia offers some of the most attractive plays around.

1993 June 21, Bill Javetski et al., “The Pacific is Terrific, and Europe Isn't Terrible”, in BusinessWeek, retrieved 2009-05-28:

The world's most successful stockpicker last weekend released his widely read chair's letter to shareholders of his Berkshire Hathaway Inc. conglomerate.

2009, David Olive, "Good time to buy stocks, if you're thinking long-term, Toronto Star, 8 Mar. (retrieved 28 May 2009)

(finance) An investor or investment advisor who selects or recommends corporate shares for purchase.


shadow bank

The rise of unregulated “shadow banks” and the lack of restrictions on insurers and asset managers were pinpointed as concerns – as was the growth of global banks to a scale larger than 2008 and the fear that they are again “too big to fail”.

2018 October 7, Shane Hickey, “Shadow banks, trade wars, Trump … clouds gather over the IMF’s paradise”, in The Observer:

The results of the experiment show that the broad policy regime performs best, with the narrow Basel III regime actually working more procyclical than the standard regime when hit with a hypothetical shock. This is because of credit is forced through the shadow-bank channel when the standard bank channel is faced with countercyclical regulation.

2020, Jon Nævdal Johansson, Macroprudential Policy Reviewed: An Economic Assessment of Implemented Macroprudential Policy Regimes Post the Great Recession, Department of Economics, University of Oslo, November 2020

(banking, economics, finance) An entity not subject to banking regulation that performs banking functions.


DAO

DAO (countable and uncountable, plural DAOs)

As the name suggests, DAOs are autonomous entities that subsist independently from any legal or moral entity. After they have been created and deployed onto the internet, they no longer need (nor heed) their creators.

2014 March 8, Primavera De Filippi, “Tomorrow's Apps Will Come From Brilliant (And Risky) Bitcoin Code”, in Wired, →ISSN:

Humans aren't in charge, they are on the edges. AI is what makes the decisions and the DAO maintains itself. DAOs aren't just defined by having AI make all the decisions, they also have their own internal capital.

2016, Siraj Raval, Decentralized Applications, O'Reilly Media, →ISBN:

But with the mayor’s backing, Mr. Nelson is planning to establish a trust fund that would serve as the basis of the DAO. “I’m dreaming,” he said. “Two Harbors could turn into Disneyland.”

2022 January 25, David Yaffe-Bellany, “The Rise of the Crypto Mayors”, in The New York Times, →ISSN:

DAOs, which have been described as “financial flash mobs” or “group chats with bank accounts,” are among the fastest-growing parts of the crypto ecosystem.

2022 March 2, Erin Woo, Kevin Roose, “This Social Club Runs On Crypto Tokens and Vibes”, in The New York Times, →ISSN:

decentralized autonomous organization
w:decentralized autonomous organization

(cryptocurrencies, Web3) Acronym of decentralized autonomous organization, an autonomous entity based on smart contracts on a blockchain.


jelly roll

(finance) An options position consisting of two calls and two puts, which can be seen as a combination of synthetic long and short positions with different expiries, or a combination of a put time spread and a call time spread.


at the expense of

(finance) Paid for by an individual or group.


trustless

A trustless network can run even if none of its nodes trusts another.

In the trustless cryptocurrency world, you can still trust the cryptocurrency community and its mechanisms to ensure that the blockchain contains an accurate and immutable—unchangeable—record of cryptocurrency transactions.

2019, Peter Kent, Tyler Bain, Cryptocurrency Mining For Dummies, John Wiley & Sons, →ISBN, page 30:

This article draws from the extensive academic discussion on the concepts of “trust” and “confidence” to argue that blockchain technology is not a ‘trustless technology’ but rather a ‘confidence machine’.

2020 August, Primavera De Filippi, Morshed Mannan, Wessel Reijers, “Blockchain as a confidence machine: The problem of trust & challenges of governance”, in Technology in Society, volume 62, →DOI:

If it becomes cheaper to use a TTP to verify the transaction than some cryptographic or other automated mechanism, then the benefit of being “trustless” becomes an illusion.

2021, Shin'ichiro Matsuo, Nat Sakimura, editors, Blockchain Gaps: From Myth to Real Life, Springer Nature, →ISBN, page 34:

And the system would be “trustless” — that is, it would not rely on a trusted party, such as a bank or government, to arbitrate transactions.

2022 June 7, Siobhan Roberts, “How ‘Trustless’ Is Bitcoin, Really?”, in The New York Times, →ISSN:

(computing, cryptocurrencies) Which does not need any trust, or a trusted third party.


prudent man rule

prudent man rule (plural prudent man rules)

Prudent man rules also require that greater financial and legal responsibility be attached to any imprudent action by corporate officers.

2005, World Bank with International Monetary Fund, Financial sector assessment: a handbook, page 455:

(law, finance) A standard for the duty of a fiduciary with responsibility over investments.


free ride

(finance) The practice of buying and selling shares or other securities without actually having the capital to cover the trade.


free ride

en-verb

free ride (third-person singular simple present free rides, present participle free riding, simple past free rode, past participle free ridden)

free rides (present singular third-person)
free riding (participle present)
free rode (past)
free ridden (participle past)

(finance) To buy and sell shares or other securities without actually having the capital to cover the trade.


buydown

(finance) An accelerated repayment of the principal of a loan.


simple interest

(finance) interest paid only on the principal.


SWF

(file format): SWF originated as an abbreviation for Shockwave Flash. This usage was changed to the backronym Small Web Format to eliminate confusion with a different technology, Shockwave, from which SWF derived. There is no official resolution to the initialism SWF by Adobe.

Norway's SWF sells Jardine stake over ‘severe environmental damage’ risks [title]

2024 March 2, A. Anatha Lakshmi, William Langley, Mercedes Ruehl, “Norway's SWF sells Jardine stake over ‘severe environmental damage’ risks”, in FT Weekend, Companies & Markets, page 13:

sovereign wealth fund
sovereign wealth fund#English

(finance) Initialism of sovereign wealth fund.


savings account

en-noun

savings account (plural savings accounts)

(finance, banking) A bank account designed for a client's savings, which compared to a current account typically entails withdrawal restrictions but yields a better interest.

խնայողական հաշիվ

account that yields a better interest than a current account


commodity exchange

commodity exchange (plural commodity exchanges)

(finance, agriculture) An organization operating under a set of bylaws aimed at promoting trade in one or more commodities by providing services and rules for the conduct of trade.


spot price

(trading, finance) The price at which an asset for immediate delivery is selling at a given time and place.


x-div.

Those who buy a security before the x-div. date should be especially alert about receiving their first dividend.

1968, Samuel C. Greenfield, The Low-high Theory of Investment: How to Make Money in the Stock Market and Keep it, page 40:


trial balance

(accounting) A statement of the balances of all nominal accounts in a double-entry ledger, made to test their equality. The total value of the debits should equal the total of the credits any difference indicates that an error has been made.


to the moon

The marketing of this relatively new money has so far been limited mostly to ads on trade websites and targeted pushes on social media, where aficionados swap meme-fueled in-jokes about coin values rocketing to the moon.

2021 July 7, Tiffany Hsu, Coral Murphy Marcos, “Cryptocurrency Seeks the Spotlight, With Spike Lee’s Help”, in The New York Times:

(cryptocurrencies, slang) Of a cryptocurrency, increasing rapidly and substantially in value.


to the moon

(cryptocurrencies, slang) An aspirational or rallying call for confidence that the value of a cryptocurrency will greatly increase in the future.


fundable

en-adj

fundable (comparative more fundable, superlative most fundable)

more fundable (comparative)
most fundable (superlative)

(finance) Capable of being converted into a fund or into bonds.


Ck

(banking, finance) Abbreviation of check.


toppy

toppy (comparative more toppy, superlative most toppy)

more toppy (comparative)
most toppy (superlative)

Let’s face it, folks: the markets are toppy right now. Yet no one’s officially calling a recession or suggesting what to do if one appears. This is where signals really matter.

2024 July 24, Investing with a Plan and Process:

(finance) Unstable, priced too high (of a currency, stock etc.).


noise trader

Derived from the financial definition of noise, formally defined in a 1986 paper by Fischer Black as "[n]oise in the sense of a large number of small events is often a cause factor much more powerful than a small number of large events can be."

fundamental analysis
fundamental analysis

(finance) One who trades financial products (such as stocks) not based on fundamental analysis.


nonderivative

financial instrument
financial instrument

(finance) A financial instrument that is not a derivative.


OCMT

(banking, finance) Initialism of original currency and amount. (describing payments between banks, in messages using the SWIFT standard)


discount rate

(finance) An interest rate that a central bank charges depository institutions that borrow reserves from it.

(finance) The interest rate used to discount future cashflows of a financial instrument; the annual interest rate used to decrease the amounts of future cashflows to yield their present value.


fut.

head

fut. (uncountable in one sense; already plural in the other)

(plural only, finance) Abbreviation of futures.


cr

(accounting) Abbreviation of creditor, credit


look down

en-verb

look down (third-person singular simple present looks down, present participle looking down, simple past and past participle looked down)

looks down (present singular third-person)
looking down (participle present)
looked down (participle past)
looked down (past)

(intransitive, finance) To decrease in value.


AUM

assets under management
w:assets under management

(finance) Initialism of assets under management.


traveler's check

en-noun

traveler's check (plural travelers' checks)

(US, finance) A check (draft), requiring a specimen signature and a countersignature; this is usually prepaid and drawn against the bank's own funds, rather than drawn against the signatory's account.


cashier's check

cashier's check (plural cashier's checks or cashiers' checks)

cashier's checks (plural)
cashiers' checks (plural)

(banking, finance) A check guaranteed by a bank, drawn on the bank's own funds and signed by a cashier.


silent barter

(economics, finance) A system of bartering, once common in Africa, in which traders remain silent, either because they have no language in common or because they both wish to keep secret and not discuss the origins of their goods (especially gold and salt).


charge off

en-verb

charge off (third-person singular simple present charges off, present participle charging off, simple past and past participle charged off)

charges off (present singular third-person)
charging off (participle present)
charged off (participle past)
charged off (past)

(accounting, transitive) To write off (an expense).


nonfungible

Horses, slaves, and so forth, are non-fungible things, because they differ individually in value and cannot be exchanged indifferently one for another.

1880, Thomas Erskine Holland, The Elements of Jurisprudence, 12th edition, Oxford: Clarendon Press, published 1916, page 107:

But the claim that love of certain sorts—romantic, maternal, filial—is nonfungible means that this emotion is directed only to the particular individuals who manifest those properties.

2019, Carolyn Korsmeyer, Things: In Touch with the Past, Oxford University Press, →ISBN, page 100:

(chiefly property law, finance) Not fungible, not interchangeable.


payment service

en-noun

payment service (plural payment services)

(finance) Any service provided by a financial institution to allow one person or organization to pay another for a product or service.


collateralized loan obligation

collateralized loan obligation (plural collateralized loan obligations)

collateralized loan obligations (plural)

(finance) a form of securitization where payments from multiple middle-sized and large business loans are pooled together and passed on to different classes of owners in various tranches


LTM

LTM (countable and uncountable, plural LTMs)

(finance) Initialism of last twelve months.


IBG YBG

Our financial bubble, like all bubbles, has many complex strands feeding into it — called derivatives and credit-default swaps — but at heart, it is really very simple. We got away from the basics — from the fundamentals of prudent lending and borrowing, where the lender and borrower maintain some kind of personal responsibility for, and personal interest in, whether the person receiving the money can actually pay it back. Instead, we fell into what some people call YBG IBG lending: “you’ll be gone and I’ll be gone” before the bill comes due.

2008 October 14, Thomas L. Friedman, “Why How Matters”, in The New York Times:

opens up boundless room for creative financial engineering and no lack of opportunity for alchemy and the manifestation of IBG YBG behavior.

2008, Paul B. Carroll with Chunka Mui, Billion-Dollar Lessons, page 50:

(finance) Initialism of I'll be gone, you'll be gone (I'll have gotten my commission; you'll have sold out to the next guy; neither of us will be held accountable).


unexpired cost

(finance) The unused part of the economic benefit of an expenditure that remains as an asset for future use


nonlending

(finance) The policy or practice of not lending money.


put through

(finance) A transaction by a broker outside the stock exchange, bringing a buyer and seller together.


overperform

en-verb

overperform (third-person singular simple present overperforms, present participle overperforming, simple past and past participle overperformed)

overperforms (present singular third-person)
overperforming (participle present)
overperformed (participle past)
overperformed (past)

(finance) Of an investment, to provide a financial result superior to what was expected.


CTM

en-noun

CTM (countable and uncountable, plural CTMs)

(Canada, finance, marketing) Abbreviation of Canadian Tire Money.


miniband

Coordinate term: maxiband

Over short horizons, the exchange rate has followed a crawling peg surrounded by a “miniband,” but for long horizons, superimposed on the crawling peg, there has also been an official “maxiband” with a fixed (non-crawling) central rate, floor, and ceiling.

1998, José M. Campa, P.H. Kevin Chang, James F. Refalo, An Options-based Analysis of Emerging Market Exchange Rate Expectations: Brazil's Real Plan, 1994–9 (Centre for Economic Policy Research London: Discussion paper series; 2611), Centre for Economic Policy Research, page 2:

(finance) A small percentage of the value of a currency by which it is allowed to fluctuate in a single day, as part of a policy to stabilize the currency.


Ponzi

Named after con artist Charles Ponzi (1882–1949) who notoriously ran such type of scam.

named-after

Officers, who say he [Kautilya Nandan Pruthi] was Britain's most prolific Ponzi fraudster "by some way", fear that only around £2m will be returned to his victims.

2012 March 8, “Fraudster jailed for Britain's biggest Ponzi scam”, in The Guardian:

(finance) Pertaining to a scheme whereby investors' returns are paid for directly by later investors' investments, giving the false impression that the investment is viable.


Eurocheque

(finance, historical) A type of cheque formerly used in Europe that was accepted across national borders and could be written in a variety of currencies.


ratable

(chiefly finance) Able to be evaluated with a rating.


mystery meat

en-noun

mystery meat (countable and uncountable, plural mystery meats)

LL-Q1860 (eng)-Flame, not lame-mystery meat.wav

Search the footnotes with a flashlight, you wouldn’t find an explanation, let alone an appraisal, of $16 billion of this mystery meat. Concluding his analysis, Walmsley wrote: “If you deducted from equity these unidentified other assets […]”

2002, Grant’s Interest Rate Observer, volume 20, page 8:

Here’s the Walkman killer. There’s no mystery meat. The reason you bought a music company is so that you could be the one to make a device like this.

2011, Walter Isaacson, Great Innovators:

Howard Gleckman of the Tax Policy Center calls these unspecified sources of revenue “mystery meat,” and strongly suggests that nothing like this would actually happen.

2020, Paul Krugman, Arguing with Zombies:


net present value

net present value (plural net present values)

(finance) The present value of a project or an investment decision determined by summing the discounted incoming and outgoing future cash flows resulting from the decision.


blowoff

Often this throwing-in-the-towel mentality is pure crowd following and results in entry at the blowoff phase of the trend .

2005, Richard L. Weissman, Mechanical Trading Systems, page 68:

A crash in china would reverberate across Asia, and a blowoff that resulted in political instability would have dire consequences.

2014, Barton Biggs, Biggs on Finance, Economics, and the Stock Market, page 221:

All the questions refer to trades made in the blowoff phase of the market , whether stated or not.

2015, Robert J. Seifert, Profiting from Weekly Options:

If the current trend doesn't resolve itself in a rounding top/bottom and costs begin to accelerate at a much steeper angle than the sustainable 45-degree rate, the market will more than likely end in a blowoff.

2022, Nathan Bell, Options trading strategies:

(finance) A period of rapid and usually unsustainable increase (or, sometimes, decrease) in market prices.


IFA

independent financial adviser
w:independent financial adviser

(UK, finance) Initialism of independent financial adviser.


indexlike

en-adj

indexlike (comparative more indexlike, superlative most indexlike)

more indexlike (comparative)
most indexlike (superlative)


structurer

(finance) Someone who designs structured products.


VCT

venture capital trust
w:venture capital trust

(finance, UK) Initialism of venture capital trust.


ECU

European Currency Unit
European Currency Unit#English

(European Union, finance, historical) Initialism of European Currency Unit.


staker

Coordinate term: miner

A staker earns a part or the entirety of the transaction fees upon transaction validation. The number of transaction validations allowed for a staker is directly proportional to the amount and duration of their assets on stake.

2020, Kim-Kwang Raymond Choo, Ali Dehghantanha, Reza M. Parizi, editors, Blockchain Cybersecurity, Trust and Privacy, Springer Nature, →ISBN, page 208:

(cryptocurrencies) One who participates in proof of stake.


nonstockholding

(finance) Without an ownership interest in a company's stock.


IOTA

(finance) A bank account that earns interest and pays it to a third party, generally a charity; the principal is typically being held in escrow by the accountholder.


SAAR

Seasonally adjusted annual rate
w:Seasonally adjusted annual rate

(finance) Acronym of Seasonally adjusted annual rate.


average up

en-verb

average up (third-person singular simple present averages up, present participle averaging up, simple past and past participle averaged up)

averages up (present singular third-person)
averaging up (participle present)
averaged up (participle past)
averaged up (past)

(finance) To buy more of a product, especially more shares, at a higher price than a previous purchase, so that the average price paid for one's holding is raised.


surplusage

en-noun

surplusage (countable and uncountable, plural surplusages)

From Medieval Latin surplusagium, from surplus.

1802–1819, Abraham Rees, The Cyclopædia; or, Universal Dictionary of Arts, Sciences, and Literature
one third-part of the surplusage of the estate of any person dying inteſtate, ſhall be distributed to his widow,and the reſidue amongſt his children by equal portions

(finance) A greater disbursement than the charge of the accountant amounts to.


moratory

moratory interest

(law, finance) Pertaining to delay of payment or fulfilment of an obligation.


AVC

(finance) Initialism of additional voluntary contribution (to a pension).


Canary

Based on the geography of the Canary Islands, between Bermudan and European.

Canary callable bonds are a type of step-up bond that is a hybrid structure, having elements of both Bermudan and European calls.

2005, Gary Strumeyer, chapter 9, in Investing in Fixed Income Securities: Understanding the Bond Market, John Wiley & Sons:

The canary bond is unique in that it is callable during the period before the security converts to a noncallable or bullet structure; the canary callable coupon can possess a step-up feature.

2006, Ben Finkelstein, The Politics of Public Fund Investing: How to Modify Wall Street to Fit Main Street, Touchstone, page 123:

A (receiver) Canary swaption has two expiry dates 0 < θ₁ < θ₂ ≤ t₀ and involved two swaps Sⁱ (i = 1, 2) with cash -flows (t_(i,j), c_(i,j)) (1 ≤ j ≤ nᵢ).

2006, Marc Henrard, Numerical integration for Canary swaptions in the gaussian HJM model, Bank for International Settlements, page 5:

(finance, of an option) That can be exercised on quarterly dates, a set time period (usually one year) after the issue date, and before the expiry date.


purchase price

(management, accounting) The price at which something is actually purchased, especially from the point of view of the purchaser.


nonreserve

(finance) Not of or pertaining to a reserve.


carousel fraud

carousel fraud (countable and uncountable, plural carousel frauds)

(finance, taxation) The theft of value-added tax from a government by exploiting the way VAT is treated within multijurisdictional trading where the movement of goods between jurisdictions is VAT-free.


nonequity

(finance) Not of or pertaining to equity.


antigold

en-adj

antigold (comparative more antigold, superlative most antigold)

more antigold (comparative)
most antigold (superlative)

(finance, historical) Opposing the use of gold as a medium of exchange.


cost price

en-noun

cost price (countable and uncountable, plural cost prices)

(finance) The amount paid by a trader for goods purchased.

(finance) The cost to a manufacturer of producing an item, before any profit is taken.


Eurobond

From Euro- + bond, modeled after Eurodollar.

As a result of Eurobond sales, foreign holders of dollars could find “attractive” investments and thereby refrain from selling the dollars to their central banks, sales that would cause more pressure to step up the gold outflow from America.

1968 January 15, John H. Allan, “Eurobonds Outpace The Rush for Gold”, in The New York Times, →ISSN:

(finance) An international bond denominated in a currency not native to the country where it is issued.

The most widely discussed eurobond concept is certainly the Blue Bond/Red Bond concept proposed by Jacques Delpla and Jakob von Weizsäcker (2010). They suggest that sovereign debt in euro area countries be split into two parts.

2012, William R. Cline, Resolving the European Debt Crisis, Peterson Institute, →ISBN, page 243:

(finance) Proposed government bonds to be issued in Euros jointly by the Eurozone states.


financial year

As yet, we don't know what the comparable figures will be like for the current financial year which ends in March 2022, but we can have a good stab at approximating them.

2022 January 12, Sir Michael Holden, “Reform of the workforce or death by a thousand cuts?”, in RAIL, number 948, page 22:

(British, accounting) Synonym of fiscal year


EBICS

The CFONB, the standardisation office in the banking sector of France, has designated EBICS as the follow-up standard for the discontinued ETEBAC protocols.

To facilitate business activities in Europe, especially within the Single Euro Payments Area (SEPA), German and French banks have agreed on providing a common protocol for financial transactions on the internet which standardises communication between corporate clients and banks - the Electronic Banking Internet Communication Standard (EBICS).

2010, Association for German Banks (Staff), "EBICS facilitates the Single Euro Payments Area: New Franco-German cooperation promotes European standard for payment transactions" (press release)

w:Electronic Banking Internet Communication Standard

(finance) Acronym of Electronic Banking Internet Communication Standard.


nonfutures

Affiliates of securities, futures, and insurance firms that market nonsecurities or nonfutures OTC derivatives are not directly regulated by SEC or CFTC.

1998, Cecile O. Trop, Thomas J. McCool, OTC Derivatives: Additional Oversight Could Reduce Costly Sales Practice Disputes, page 54:

(finance) Not of or pertaining to futures contracts.


round turn

(finance) A complete trade, involving both the purchase and the sale of a commodity.


liquidness

(finance) The quality of being liquid (easily sold or disposed of).


retiral

retiral (countable and uncountable, plural retirals)

/ɹɪˈtʌɪəɹəl/

(finance) The act of taking up a bill when due.


Master of the Universe

Master of the Universe (plural Masters of the Universe)

The "highly successful business person" sense is derived from Mattel's Masters of the Universe toy line and media franchise, which was launched in 1982. It was first used as such in the 1987 novel The Bonfire of the Vanities by Tom Wolfe (see quotations).

The Masters of the Universe were a set of lurid, rapacious plastic dolls that his otherwise perfect daughter liked to play with. […] On Wall Street he and a few others—how many?—three hundred, four hundred, five hundred?—had become precisely that. . . Masters of the Universe. There was . . . no limit whatsoever!

1987, Tom Wolfe, The Bonfire of the Vanities, New York: Farrar Straus Giroux, page 12:

They had their suit jackets off, and at this hour of morning—9:20 a.m.—they were leaning back in their seats, reading their Wall Street Journals, and congratulating themselves on being young Masters of the Universe.

2007, Jordan Belfort, The Wolf of Wall Street, New York: Bantam Books, →ISBN, page 1:

No matter how much you may dislike the Masters of the Universe, my friends, there are plenty of other parts of the universe that would welcome them.

2008, Boris Johnson, Conservative Party Conference:

The man who once boasted he was "master of the universe" for making Vivendi a global media giant arrived in less triumphant fashion on Wednesday – through the back door of a Paris court.

2010 June 2, Henry Samuel, “Vivendi Universal's 'Master of the Universe' Messier trial begins”, in The Daily Telegraph, retrieved 2010-07-13:

(idiomatic, finance, business) A highly successful business person.


oncost

From on- + cost, or from Middle English uncost (“additional expense”), from Middle Dutch oncost (“expenses, overhead”) (Modern Dutch onkost), equivalent to un- + cost. Cognate with German Unkost (“expenses”).


holdback

The community Opportunity Bonus Fund incorporates a $250 million bonus pool, which would operate in the same manner as the original performance holdback.

1995, United States. Congress. House. Committee on Appropriations. Subcommittee on VA, HUD, and Independent Agencies, Departments of Veterans Affairs and Housing and Urban Development, And Independen Agencies Appropriations for 1996:

When there is a holdback provision, the percentage placed in reserve by gainsharing plans typically ranges from a low of 10 percent to as much as 70 percent.

2004, Joseph Boyett, Jimmie Boyett, The Gainsharing Design Manual, page 55:

The customer return privilege period expires and the remaining holdback is paid to the transferor.

2010, Barry J. Epstein, Ralph Nach, Steven M. Bragg, Wiley GAAP: Interpretation and Application of Generally Accepted Accounting Principles, page 201:

(accounting) Income that is set aside for eventualities such as customer returns, seasonal fluctuations, performance bonuses, unexpected costs, etc.


reintermediation

(finance) The reintroduction of an intermediary between producer and consumer in order to provide a flow of funds.


income statement

en-noun

income statement (plural income statements)

(accounting) A calculation which shows the profit or loss of an accounting unit (company, municipality, foundation etc.) during a specific period of time, providing a summary of how the profit or loss is calculated from gross revenue and expenses.


wastebook

(dated, finance) A temporary notebook in which details of transactions were entered as they happened, to be copied into formal ledgers later.


nonchecking

(finance) Not of or pertaining to a checking account.


devisen

[…] in February there was a moderate decline in its holdings of devisen, and in March there was a loss of both devisen and gold.

1930, The Execution of the Experts’ Plan: Fifth Annuity Year and Transition Period, September 1, 1928 to May 17, 1930, page 110:

[…] the fall in the value of Hungary’s exports in 1930 had already driven the Government to use up a large proportion of its reserves in gold and devisen.

1956, Carlile Aylmer Macartney, October Fifteenth: A History of Modern Hungary, 1929–1945, volume 1, page 91:

The central monetary powers were obligated to maintain existing parities and convertibility of their currencies by contracting their domestic money supply and shipping gold if under pressure and by offering credits, intervening on foreign exchange markets, and refraining from liquidating devisen to support other currencies under pressure.

1992, Kenneth A. Oye, Economic Discrimination and Political Exchange, →ISBN, page 107:


RIA

registered investment adviser
registered investment adviser#English

(finance) Initialism of registered investment adviser.


tracker mortgage

tracker mortgage (plural tracker mortgages)

(UK, finance) A variable-rate mortgage where the amount of interest paid on the loan is linked to the Bank of England's base rate by a fixed differential.


split tender

In some cases the customer will present the gift card and a credit card for the difference, but some merchant's Point of Sale systems lack the capacity to handle a split tender such as this.

2004, Mark Furlette, Prepaid Card Markets and Regulation, Federal Reserve Bank of Philadelphia:

(finance) Two or more different forms of payment in a single transaction; typically cash and credit card.


going concern

If the bank does not act swiftly to push the CDS price back down, the regulator seizes the assets, wipes out shareholders and sacks the management. The bank is recapitalised as a going concern and later sold.

2009 May 14, “Dilute or die”, in The Economist:

At Acromas, the balance sheet is more than £1bn in the red [...] and a pre-tax loss of £300m was recorded in the year to January 2009. But Acromas is still regarded as a viable going concern.

(business, finance, accounting) An operating enterprise.


mischarge

en-verb

mischarge (third-person singular simple present mischarges, present participle mischarging, simple past and past participle mischarged)

mischarges (present singular third-person)
mischarging (participle present)
mischarged (participle past)
mischarged (past)


buy into

buy into (third-person singular simple present buys into, present participle buying into, simple past and past participle bought into)

buys into (present singular third-person)
buying into (participle present)
bought into (participle past)
bought into (past)

We bought into a local electrical firm.

(finance) To buy stocks or shares of (a business).


pyramider

(finance) One who engages in pyramid trading.


DPO

days payable outstanding
days payable outstanding#English

(accounting) Initialism of days payable outstanding.


deindex

deindex (third-person singular simple present deindexes, present participle deindexing, simple past and past participle deindexed)

deindexes (present singular third-person)
deindexing (participle present)
deindexed (participle past)
deindexed (past)

(computing, finance, transitive) To remove from an index.


trade up

trade up (third-person singular simple present trades up, present participle trading up, simple past and past participle traded up)

trades up (present singular third-person)
trading up (participle present)
traded up (participle past)
traded up (past)

(finance) To gain value on the stock exchange.


trade down

trade down (third-person singular simple present trades down, present participle trading down, simple past and past participle traded down)

trades down (present singular third-person)
trading down (participle present)
traded down (participle past)
traded down (past)

(finance) To lose value on the stock exchange.


capitalizable

(finance) Capable of being converted into capital.


even up

even up (third-person singular simple present evens up, present participle evening up, simple past and past participle evened up)

evens up (present singular third-person)
evening up (participle present)
evened up (participle past)
evened up (past)

(finance) To secure a profit to offset a previous loss.


metaorder

(finance) A large trading order that is split into small pieces and executed incrementally


variable cost

Variable costs of nuclear-generated electricity seem low.

Variable costs may actually vary with the number of shifts, the number of set-ups, or many other specific activities.

(accounting) A cost that changes with the change in volume of activity of an organization.

muuttuva kustannus

cost that changes with volume of production


ENS

Coordinate term: DNS

The components involved in ENS loosely mimic those of DNS, with the difference that they are implemented as smart contracts within the Ethereum network.

2019, Santiago Palladino, Ethereum for Web Developers, Apress, →ISBN, page 267:

(cryptocurrencies) Initialism of Ethereum Name Service.


accumulated depreciation

en-noun

accumulated depreciation (usually uncountable, plural accumulated depreciations)

(accounting) The sum of past depreciation for an asset that is currently held.


day trader

CNBC's reaction is colored by its stressed-out day trader's focus on the short term.

2009 March 12, James Poniewozik, “CNBC Under Fire: Sticking Up for the Big Guy?”, in Time:

(business, finance) A person who practices the short-term investment strategy of trading stocks or other investment instruments by selling any given security during the same market day within which it was purchased.


day trade

Netting a quick ten grand on a day trade of 1750 shares, he paid off his credit-card debts and gave his wife a ring with five diamonds.

1998 May 11, Jeanne Lee, “Sharing The Dell Wealth”, in CNNMoney,com, retrieved 2011-04-15:

(business, finance) A transaction in which units of stock or other investment instruments are purchased and then sold within a single market day.

päiväkauppa

buying and selling within a single market day


day trade

en-verb

day trade (third-person singular simple present day trades, present participle day trading, simple past and past participle day traded)

day trades (present singular third-person)
day trading (participle present)
day traded (participle past)
day traded (past)

No one knows for sure how many people day trade.

1999 August 9, Daniel Kadlec, “Day Trading: It's a Brutal World”, in Time:

(business, finance) To engage, as a deliberate investment strategy, in the very short-term trading of stocks or other securities, by selling any given security within the same market day during which it was purchased.


IRR

Internal rate of return
w:Internal rate of return

(finance) Initialism of Internal rate of return.


bank paper

en-noun

bank paper (usually uncountable, plural bank papers)

(finance, archaic) Banknotes in circulation.


NOBO

(business, finance) Initialism of nonobjecting beneficial owner.


microcap

From micro- + cap (short for capitalization).

But they are not looking for the extremely small stocks known as microcaps.

2007 July 8, J. Alex Tarquinio, “Loving What Nobody Wants”, in New York Times:

market capitalization
market capitalization

(US, finance) The stock of a public company with a market capitalization of roughly $300 million or less.


FDICIA

w:Federal Deposit Insurance Corporation Improvement Act of 1991

(US, finance) Initialism of Federal Deposit Insurance Corporation Improvement Act of 1991.


liquidatable

(finance, of assets) capable of being liquidated


crowdfunding

crowdfunding (usually uncountable, plural crowdfundings)

→ Danish: crowdfunding

→ German: Crowdfunding

desc

→ Japanese: クラウドファンディング (kuraudofandingu)

→ Korean: 크라우드펀딩 (keuraudeupeonding)

→ Portuguese: crowdfunding

краудфа́ндинг

→ Russian: краудфа́ндинг (kraudfánding)

(finance) Funding by many individuals pooling their money together for a common goal, usually via the Internet.


MOSS

w:Market Oriented Sector Selective talks

(trading) Acronym of Market Oriented Sector Selective talks.


precredit

(finance) Before credit is taken into account.


REMIC

w:Real Estate Mortgage Investment Conduit

(US, finance) Acronym of Real Estate Mortgage Investment Conduit.


earnout

The earnout was definitely getting in the way of running Skype the way we wanted to run it.

2007 October 18, Brad Stone, “EBay Reports 3rd-Quarter Growth, With Some Blemishes”, in New York Times:

(business, finance) A formula by which the management of a company earns a share of the company's share capital by achieving results above pre-determined levels.


supersenior

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(finance) Having high-quality financial paper with very low risk exposure.


supersenior

UBS reported that it had $16.8 billion invested directly in residential mortgage-backed securities and $20.2 billion worth of supersenior securities, which are paid back ahead of other similarly rated securities in the case of a default.

2007 October 31, Nick Cumming-Bruce, “Mortgage Woes Push UBS to Its First Loss in 5 Years”, in New York Times:

(finance) Of a status higher than that of a senior lender.


underreserved

en-adj

underreserved (comparative more underreserved, superlative most underreserved)

more underreserved (comparative)
most underreserved (superlative)

LL-Q1860 (eng)-Flame, not lame-underreserved.wav

One reason for this, as recently noted in this space, is that banks are underreserved for losses.

2007 November 11, Gretchen Morgenson, “There's No Superhero in the Wings”, in New York Times:


downtick

(finance) A stock market transaction or quote at a price below a preceding one.


minibubble

"I think this is a minibubble reflecting hysterical buying by speculators, who are fearful that we will embark on some sort of adventure in Iran and destabilize oil sources in the region," Mr. Metz said.

2007 December 2, J. Alex Tarquinio, “From the Heights of $100 Oil, Most Stocks Look Vulnerable”, in New York Times:


subinvestment

The biggest impact of the S.& P. announcement was felt by investors who had bought protection from the ACA Financial Guaranty Corporation, whose rating was cut to CCC, a subinvestment grade, from an A rating.

2007 December 20, Vikas Bajaj, “Bond Insurer Cut to Junk; Negative Outlook for 4 More”, in New York Times:

(finance) Not at a level where investment is considered wise or profitable.


superbull

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But Abby Joseph Cohen, the superbull at Goldman Sachs, maintained that the Dow would roar back to finish 2008 at a level 22 percent higher — 14,750 is the number — as the economy perks up later in the year.

2008 January 19, Julie Creswell, “Seeking Tools to Calm a Market”, in New York Times:


nonhedged

Société Générale said the new figure included 1.25 billion euros from its portfolio of nonhedged collateralized debt obligations, 947 million euros in default risk related to bond insurers and 325 million euros in trading losses on its investments in residential mortgage-backed securities.

2008 February 12, Nicola Clark, “Société Générale Seeks to Raise $8 Billion”, in New York Times:


hedgie

Despite the best, or worst, efforts of those overextended hedgies and subprime-sters, it did, but not as high as hems, and it yo-yoed squeamishly along the way.

2009 March 3, Alice Rawsthorn, “Power Play”, in New York Times:

Most hedgies currently lack conviction. Incidentally, that's a good sign, not an ill omen.

2020, Barton Biggs, Diary of a Hedgehog: Biggs' Final Words on the Markets, page 28:

(finance, informal) A hedge fund trader.


nonitemizer

(US, finance) One who does not make itemized deductions on a tax return.


itemizer

(US, finance) One who makes itemized deductions on a tax return.


BBA

balanced budget amendment
balanced budget amendment#English

(US, politics, finance, law) Initialism of balanced budget amendment.


setup fee

(finance) An initial fee that is charged by an organization to set up an account (or similar financial instrument).


sag off

en-verb

sag off (third-person singular simple present sags off, present participle sagging off, simple past and past participle sagged off)

sags off (present singular third-person)
sagging off (participle present)
sagged off (participle past)
sagged off (past)

That was considered to be largely in sympathy with the course of the wheat market and a willingness on the part of crushers to permit quotations to sag off before according fresh support.

1917, Paint, Oil and Drug Review - Volume 63, page 54:

Iron and steel prices continued to sag off during the past month.

1923, Architectural Forum - Volume 39, Part 1, page 68:

One in which prices barely hold their own, and are inclined to sag off a little during the day, closing lower than they opened.

2014, Henry Voorce Brandenburg, Profitable Stock Exchange Investments, →ISBN, page 25:


ITM

(finance, poker slang) Initialism of in the money.


dequity

This book is the first to fully examine the many recent financial innovations that have blended the traits of debt and equity and created the hybrid security known as dequity.

1991, Andrew H. Chen with John W. Kensinger, Innovations in dequity financing:

For example quasi-debt (or dequity) instruments, such as redeemable preference shares, carry obligations and incentives to perform in order that the shares may be repurchased

1996, Ken Robbie with Mike Wright, Management buy-ins: entrepreneurship, active investors, and corporate restructuring, page 4:

They can be designed with debt-like features so as to satisfy the Internal Revenue Service that they are debt instruments, not equity (or "debtquity" as some refer to junk bonds).

1996, Richard S. Wilson with Frank J. Fabozzi, Corporate bonds: structures & analysis, page 96:

2005, Georgette Chapman Poindexter, Dequity: the blurring of debt and equity in secruitized real estate financing:

(finance) Securities characterized by attributes of both fixed-income and equity securities.


month to date

(management, accounting) The period from the beginning of a calendar month to the end of a reporting period.


FTT

en-noun

FTT (countable and uncountable, plural FTTs)

financial transaction tax
w:financial transaction tax

(finance) Initialism of financial transaction tax.


optionlike

en-adj

optionlike (comparative more optionlike, superlative most optionlike)

more optionlike (comparative)
most optionlike (superlative)

“Cheap volatile assets with a huge upside are precisely the kinds of optionlike investments that clever zombie managers are energetically looking for,” he said.

2009 March 13, Floyd Norris, “The Problem? Bankers Point to the Rules”, in New York Times:

(finance) Resembling or characteristic of an option.


equitylike

equitylike (comparative more equitylike, superlative most equitylike)

more equitylike (comparative)
most equitylike (superlative)

Before the crisis, perhaps 70 percent of demand came from practitioners of convertible arbitrage, who aimed to profit from the interplay of the debtlike and equitylike characteristics of the securities.

2009 April 7, “A Window Opens for Stock Issues”, in New York Times:


recharacterization

en-noun

recharacterization (countable and uncountable, plural recharacterizations)

You owe tax on April 15 on $100,000, unless you reverse the transaction — a process called recharacterization.

2009 April 2, Deborah L. Jacobs, “For This Year, a Chance to Shift Financial Strategies”, in New York Times:

(law, finance) The treatment of a certain course of conduct in a different manner to which the participants describe it.


growth stock

Those lucky investors who years ago put $20,000 into International Business Machines, or a similar growth stock, and have seen it soar to $500,000 today, do have some problems.

1960 December 5, “Investment: Capital-Gains Stall”, in Time:

Two years later, when Brown took Stryker public, bankers told him it would need at least 20% annual earnings gains to be considered a growth stock.

2004 December 6, Kathleen Kerwin, “Knees And Hips — And Now What?”, in Businessweek, retrieved 2011-08-16:

What's the perfect small-cap growth stock? One with good growth prospects, fat margins, limited competition, and outstanding management.

2011 May 18, Jim Oberweis, “Wrinkles Worth Having”, in Forbes.com, retrieved 2011-08-16:

(business, finance) A corporate equity investment instrument which usually does not pay substantial dividends but which increases in value as the company grows, and which typically appeals to investors who have a long-term perspective.


LOB

(finance) Initialism of limit order book, an order book of limit orders.


antipill

en-adj

antipill (comparative more antipill, superlative most antipill)

more antipill (comparative)
most antipill (superlative)

In fact, the 1997 proposal was a binding bylaw amendment prompted by Fleming's refusal to redeem its poison pill despite a 65 percent antipill vote the previous year.

2000, James P. Hawley, Andrew T. Williams, The rise of fiduciary capitalism, page 63:


overspeculate

en-verb

overspeculate (third-person singular simple present overspeculates, present participle overspeculating, simple past and past participle overspeculated)

overspeculates (present singular third-person)
overspeculating (participle present)
overspeculated (participle past)
overspeculated (past)

[…] that under our present way of doing business there was a tendency to overspeculate on future advances in value; that such overspeculation always tended to produce a reaction; that there were evidences at the present time of the beginning of such a speculative fever […]

1910 February 26, Collier's, volume 44, page 10:

“It’s overdeveloped, overspeculated and overleveraged.”

2009 August 8, Paul Sullivan, “There’s Value in Real Estate, if You Find Your Florida”, in New York Times:

(finance) To spend too much money in speculation.


bondholding

That’s good money lying unclaimed in these fresh hard times and the states, looking for a cut, argue that they have the means to track down bondholding taxpayers and ease their pain.

2009 October 10, “Any Bonds Today?”, in New York Times:


PEP

en-noun

PEP (countable and uncountable, plural PEPs)

(UK, finance) Initialism of personal equity plan (a former financial instrument).


ERM

The ERM was an arrangement that pegged most European currencies’ exchange-rate movements within limited bands.

2011, Marc Flandreau, Getting to Yes (Again) with Germany:

European Exchange Rate Mechanism
w:European Exchange Rate Mechanism

(European Union, finance) Initialism of European Exchange Rate Mechanism.


cliquet

forward start option
forward start option

(finance) An exotic option consisting of a series of consecutive forward start options. The first is active immediately, the second becomes active when the first expires, and so on.


nonexchange

(finance, chiefly attributive) That which is not an exchange; an unequal transaction.


direct deposit

You can pay by direct deposit, check, or cash.

(finance, banking, business) A deposit of money straight from the source (and initiated by the source) into a bank account, by wire, or other means.


floorlet

(finance) A component of an interest rate floor, a derivative instrument that effectively prevents the interest payments on an otherwise variable-rate loan from falling below an agreed level (the "floor"). Each floorlet, analysable as a put option, covers one interest accrual period (such as three months); the whole interest rate floor is made up of a series of consecutive floorlets.


bridge loan

The merger, however, depends upon Icahn's ability to provide a bridge loan to help Pan Am cover losses during the low-traffic season.

1990 December 31, “Airlines: Flocking Together”, in Time:

"It's not our fault that the economy is in the tank," he said. "What we need is a low interest bridge loan to get us through the difficult time."

2008 November 20, Poornima Gupta, Nick Care, “UAW chief: inaction not an option on U.S. auto bailout”, in forbes.com, retrieved 2011-10-25:

(business, finance) A sum of money loaned or borrowed for a short period of time in order to cover expenses until new expected funds become available.


encashment

encashment (countable and uncountable, plural encashments)

encashment of earned leave

(finance) The act of encashking; the exchange for money of a check, draft, etc.


CCP

(finance) Initialism of central counterparty.


underhead

LL-Q1860 (eng)-Flame, not lame-underhead.wav

I think prices would go up, for I know something of the importance of overhead and underhead cost as affecting the price of the goods you have to sell.

1911, National Brick Manufacturers' Association of the United States of America, Official Report, Annual Convention, page 113:

Mr. M. Caflisch of the Bronx Consumers' Ice Co., New York City, was requested to address the convention and spoke briefly on the necessity for knowing the actual total cost of manufacturing and handling ice as well as of harvesting, storing and selling ice, for he thought if ice men really understood how much the "overhead" and "underhead" cost is, they would hesitate at the price cutting that was so evident in some sections during the past Summer and prevented dealers in those sections from making a reasonable profit in spite of the excellent season which they enjoyed.

1911, Industrial Refrigeration - Volumes 40-41, page 224:

Periodically appraise the organization structure to determine what adjustments are needed to improve operating effectiveness and to reduce total costs, both overhead and underhead.

1961, AMA Management Bulletin - Issues 13-24, page 9:

But I have expenses to consider. Do you know what they are? And then there's my overhead and my underhead and my in-betweens.

2011, Jon Sharpe, The Trailsman #359: Platte River Gauntlet, page 21:

(manufacturing, accounting, dated) direct costs.


unfrankable

unfrankable distribution

(Australia, finance) not frankable; not eligible for franking.


stop-loss

stop-loss (countable and uncountable, plural stop-losses)

(stock market, countable) A stop loss order.


revolvement

revolvement (countable and uncountable, plural revolvements)

In case of a non-automatic revolving credit, the issuing bank must amend the credit each time a revolvement is due.

2016, Kim Sindberg, From A to UCP: Key Documentary Credit concepts explained, page 194:

When the revolvement is automatic there is no requirement for any amendment from the issuing bank.

2017, Nisha S Koshal, Understanding Letters of Credit:

A revolving credit may also be cumulative. In such instances, any undrawn balance in one revolvement is carried forward to the next.

2020, Rupnarayan Bose, Letters of Credit: Theory and Practice:

(finance) The time period from when credit in a revolving credit account is granted until the point when it is due or up for renewal.

Mid-America Dairymen Inc, Springfield, MO, has announced revolvement of nearly $3.1 million in equity capital to its 13,000 member families, brining total equity returned to members in 1992 to more than $11.6 million.

The bylaws of the institution clearly provide that there is no express or implied right for such capital to be retired at the end of the revolvement cycle or at any other time ;

2001, Code of Federal Regulations, page 163:

Unfortunately, the Cooperative will not keep pace with its growing mound of allocated equity, in which case the board of directors must either lengthen the revolvement cycle or borrow long term debt to shore-up and maintain the Cooperative's liquidity position, both of which weaken value proposition for patrons .

2007, The Cooperative Accountant - Volume 60, page 16:

(finance) The distribution of equity capital to members of a cooperative, based on their participation.


rehypothecate

en-verb

rehypothecate (third-person singular simple present rehypothecates, present participle rehypothecating, simple past and past participle rehypothecated)

rehypothecates (present singular third-person)
rehypothecating (participle present)
rehypothecated (participle past)
rehypothecated (past)

(finance) To pledge hypothecated client-owned securities in a margin account to secure a bank loan; usually used for mortgages.


covered call

(finance) An investment comprising two parts: (i) long stock, and (ii) short call option. It is an income-oriented strategy that is conservative in nature. The investor hopes to earn the time premium portion of the call option.


reexchange

/ˌɹiːɪksˈt͡ʃeɪnd͡ʒ/

In England , the drawer of a bill was found liable for the whole amount of the reexchange, occasioned by the circuitous mode of returning the bill through the various countries in which it had been negotiated

1807, William Glen, A Treatise on the Law of Bills of Exchange, Promissory Notes, Bank-Notes and Cheques:

(finance) The expense chargeable on a bill of exchange or draft that has been dishonoured in a foreign country and returned to its country of origin, and then taken up.


credit limit

(finance, banking) The maximum amount of credit that a financial institution or other lender will extend to a debtor for a particular line of credit.


vulture capitalist

en-noun

vulture capitalist (plural vulture capitalists)

(derogatory, finance) A takeover artist who loads a venture up with debt while extracting capital for profit, making the firm go bankrupt.


APP

APP (countable and uncountable, plural APPs)

(finance) Initialism of authorized push payment.


EBRD

w:European Bank for Reconstruction and Development

(finance) Initialism of European Bank for Reconstruction and Development.


flattener

Provided that the curve doesn't ever flatten too much and the option remains out-of-the-money, then we will put on flatteners when the curve steepens and put on steepeners when the curve flattens.

2012, Howard Corb, Interest Rate Swaps and Other Derivatives, page 451:

For example, if a trader thought that 2's 10's would trade lower than 185, he or she would put on a flattener.

2014, Greg Gliner, Global Macro Trading: Profiting in a New World Economy:

(finance) A trade whose terms are based on the assumption that the rate of return will decrease.


CAC

CAC (countable and uncountable, plural CACs)

collective action clause
w:collective action clause

(finance) Initialism of collective action clause.


CAC

Cotation Assistée en Continu
w:Cotation Assistée en Continu

(finance) Initialism of Cotation Assistée en Continu. (Continuous Assisted Quotation), an indexing system used on the Euronext Paris electronic stock exchange.


subvariance

This variance can also be broken down into three subvariances: a direct labor efficiency variance, a yield variance that relates to materials usage, and a variable overhead efficiency variance.

2010, Steven M. Bragg, The Ultimate Accountants' Reference:

(accounting) A variance making up part of a larger variance.


wirehouse

Merrill Lynch
Morgan Stanley
UBS
Wells Fargo

1904, wire + house (“company”), from earlier private-wire house (1894). Originally referred to brokerage companies that owned or leased telegraph lines, so that market information could be transmitted more quickly. Later generalized to “major brokerage”. Wirehouses are now defined by that they have a direct access to "Fed-Fund Wires", which is the system in which all banks and only the big brokerage houses can "wire" money directly from one account to another. Smaller brokerage firms do not have their own wire line, but need to send transactions by transmitting them through a bank's wire system.

Ten years ago, the Wall Street wirehouse brokerage firm seemed unassailable – part of the very firmament underpinning the entire investment industry from coast to coast.

2012, Josh Brown, “Perhaps I’ve Been a Bit Too Harsh…”, Wall Street Journal Financial Adviser, January 25, 2012

(Canada, US, finance) A major brokerage company, generally nationwide, with multiple branches.

The so-called ‘wire house’ …is a product of the boom times.

1904, N.Y. Evening Post 18 June, 1904 (Financial Section) 1/7

The “market information” is more diversified than formerly, and in many ways the “wire house” can fill a place that the old-style …

1905, The World’s work, volume 9, Doubleday, Page & Co.:

(Canada, US, finance, obsolete) A brokerage company with a telegraph line, telephone line, or electronic communication network.


private-wire house

private-wire house (plural private-wire houses)

1894, due to these brokerage companies owning or leasing telegraph lines (which occurred since 1873), so that market information could be transmitted more quickly.

All the private-wire houses were active on the selling side, those most talked of in connection with the Wall Street bull interest being the most active.

1894, “Chicago Was Afraid of Wall Street”, The New York Times, February 10, 1894, page 2

Commission men, as a rule, will not accept discretionary orders. Their risk is great enough when directions are explicit. The following is the eloquent plea made, in a letter to a private-wire house, …

1895, Forest and Stream,, volume 44, page 463:

Edward Leland of the firm of Leland Ware, which in its line did the biggest private-wire business in the country, was expelled from the Chicago Stock Exchange today on the general charge of indulging in methods detrimental to the interests and contrary to the rules of the institution of which he had been a member only a year.

1899 December 14, “Chicago Broker Expelled: Large Private Wire House Guilty of Connection with Bucket Shops .”, in The New York Times, page 2:


throw-off

In the case of the single investment, both the tax payments and the quasi-rent throw-off would be only for the single investment being evaluated.

1968, Richard Leo Pollock, The Tax Depreciation Problem, page 289:

If the expanded fund throw-offs "reflect success" of a company in terms of "profits," they should be shipped back to the Internal Revenue Service, to the company's employees, and to the company's supply vendors to whom they belong, from whom they have been borrowed by the company, and whose claims on the apparent company resource accrual accounting, as contrasted with "cash" accounting, attempts to faithfully recount.

1975, Allan Craig, Counting Things and Magic Rings, page 150:

Since the net cash throw-off is calculated using the accrual method of accounting employed on Form HUD - 92410, expenses included in the computation may not have been paid.

1992, United States. Department of Housing and Urban Development, Reviewing Annual and Monthly Financial Reports, pages 2-76:

Net income after mortgage payments (cash throw-off) equals $3,394 ($10,000 NOI less $6,606).

2009, Gary W. Eldred, Investing in Real Estate, page 23:

(accounting) Income minus expenses and depreciation (before tax).


overpost

On Feb. 1, 1879, I discover that, though the Ledger of 1878 had been closed and balanced, the amount brought forward as due by W. Tarn should have been £52 14s. id. (not £32 15s. id.); and this is found to have been caused by an overpost to his credit from a correct Journal entry.

1883, John Hunter, Supplementary book-keeping by double entry, page 28:

(accounting) An entry that has been posted more than once to a journal.


e-wallet

The concept of virtual cash, and its associated counterpart, the e-Wallet or Digital Wallet became popular vocabulary in the 1990s when a number of initiatives were launched. The digital wallet, either stored on a physical medium such as a smart card of some kind […] or sitting on a server somewhere in cyberspace, began taking form.

2002, Michael Chesher, Rukesh Kaura, Peter Linton, chapter 3, in Electronic Business & Commerce, Springer Science & Business Media, →ISBN, page 53:

(finance) An electronic data store for a customer's e-money, credit card details, etc.


NRI

(accounting) Initialism of nonrecurring item.


newco

A merger can be implemented between the issuer ("Oldco") and a new corporation ("Newco") owned by the proponents, as a result of which Oldco shares not owned by the proponents are converted to cash and Newco shares remain outstanding.

1982, Arthur M. Borden, Going Private, pages 3–4:

In this structure, the acquirer (A) forms a wholly owned subsidiary (call it NewCo). A will transfer the merger consideration to NewCo in exchange for all of NewCo's stock. Then Target will merge into NewCo (or NewCo will merge into Target).

2003, William T. Allen, Reinier H. Kraakman, Commentaries and Cases on the Law of Business Organization, page 439:

For this example, we're going to assume that a new company (we will call it NewCo) is going to build brick homes in the $250,000 price range.

2008, Edward D. Hess, Charles D. Goetz, So, You Want to Start a Business?: 8 Steps to Take Before Making the Leap, page 62:

Those who were more attached to NewCo discussed more positively their ability to charge OldCo for work, to take the 'commercial' view.

2012, Stephanie J. Morgan, The Human Side of Outsourcing: Psychological Theory and Management Practice, →ISBN:

(law, finance) A placeholder name for a business in textbooks.


post note

[…]sign any note, bill, Signing notes bond, draft, check, post note

1841, Alabama Laws and Joint Resolutions of the Legislature of Alabama:

(finance) A note issued by a bank, payable at some future specified time, as distinguished from a note payable on demand.


market order

(stock market) An instruction to a stock broker to sell stocks immediately, at whatever price reflects the current value of the stock.


fill or kill

(stock market) A type of stock market or financial derivative order, signifying that the order is to be presented for execution, and if not executed ("filled") immediately (traditionally within a few seconds) is to be cancelled.


subaccount

(finance, computing) A secondary account that belongs to a separate parent account.


OTM

out of the money
out of the money#English

(finance, of options) Initialism of out of the money.


out of the money

It's two bucks out of the money now, but it still has three weeks until expiration.

(finance, securities) Of an option, yielding a loss if exercised.


EONIA

(finance) Initialism of Euro overnight index average.


stubless

(finance, dated, of an account) Into which no deposit has ever been made.


MTCN

Money Transfer Control Number
w:Money Transfer Control Number

(finance) Initialism of Money Transfer Control Number. (This number comprises ten digits and is used by Western Union for money transfer.)


Internal Revenue Code

(finance, US) The domestic portion of federal statutory tax law in the United States.


A/R

accounts receivable
accounts receivable#English

(accounting) Initialism of accounts receivable.


accounting machine

accounting machine (plural accounting machines)

(accounting, computing, dated) A business machine, generally a combined calculator and printer, that tabulates, adds, subtracts, and totals.


account payable

account payable (plural accounts payable)

Coordinate term: account receivable

Until that time, the amount is held as an account payable and added to the current liabilities of your business. When an outstanding expense is paid, the payment amount is subtracted from a cash account and removed from the accounts payable.

2008, Barbara Findlay Schenck, John Davies, Selling Your Business For Dummies, page 99:

If a company, for example, purchases $500 in raw materials from its supplier on credit, the company incurs a $500 account payable.

2013, Paul Pignataro, Financial Modeling and Valuation:

After delivery, sellers issue an invoice, recorded as an account receivable by the seller and an account payable by the buyer.

2017, Sergio L. Schumukler, Innovative Experiences in Access to Finance, page 50:

(accounting) A balance due to a creditor on a current account.


carriage trade

(business, trading, finance) Retail business with wealthy or upper-class customers, i.e., those who arrive in carriages.


white information

As a result, finance companies share only black information with banks (though sharing white information as well among themselves).

2002, Bruno Biais, Marco Pagano, New research in corporate finance and banking, page 251:

(finance) data showing that somebody is creditworthy


SEAQ

Stock Exchange Automated Quotation
w:SEAQ

(finance) Initialism of Stock Exchange Automated Quotation.


black information

It may be possible that black information is a better predictor of default behavior as argued by Chandler and Parker (1989).

2003, Margaret J. Miller, Credit Reporting Systems and the International Economy, page 198:

(finance) data showing that somebody is uncreditworthy


LPI

LPI (countable and uncountable, plural LPIs)

limited price indexation
limited price indexation#English

(UK, finance) Initialism of limited price indexation.


ALLL

(business, banking, finance) Initialism of allowances for loan and lease losses.


nonaccrual

nonaccrual loans

(finance) Not of or relating to accrual.


above the line

(accounting) Classified as an ordinary expense or revenue item, or a current asset.


European Stability Mechanism

(finance, European Union) A proposed international organisation that would provide financial assistance to members of the Eurozone in financial difficulty.


freehanded

en-adj

freehanded (comparative more freehanded, superlative most freehanded)

more freehanded (comparative)
most freehanded (superlative)

The borrower, they feel, should be free to put the proceeds of sale or collection into new goods, provided they, and accounts representing the sale of them, shall in turn be subject to the lien that secures the loan. That is a freehanded mortgage, and with respect to it various views are entertained.

1935, The Wage-earner's Life Insurance - Volume 11, page 294:

The various ideas so far discussed turn on the question, not whether the agreement is preferential, but whether it is a fraud upon creditors, or (as the Supreme Court held in the case of a freehanded mortgage of accounts) whether it is really a mortgage at all.

1945, Duke University School of Law, Financing small business, page 295:


nonpar

With a nonpar policy, the company fixes a premium rate it figures will be high enough to finance all the policy's guarantees and low enough to be competitive. And then it must stick with that rate.

1972 May, Kiplinger's Personal Finance, volume 26, number 5, page 36:


LPT

en-noun

LPT (countable and uncountable, plural LPTs)


NINA loan

From a coding system for classifying loans to be securitized, in which N indicated "no verification", I "income", and A "assets". Other letters used were S "stated by borrower, unverifed" and V "verified".

Low and no-documentation mortgages. Known as "NINAa" (no income, no asset verification) in the trade, these were readily available through national lenders like Citicorp Mortgage in the 1980s. Now they are primarily available through alternative brokers. Southwestern Mortgage, Inc. advertises the ultimate "no nothing" NINA loan for applicants who want to avoid paper hassles; No income verification, no tax returns, no pay stubs, no W-2 income tax forms, no established credit history needed, no Social security numbers, no U.S. immigration green card required.

1991 December 22, “Alternative Financing Picks Up Popularity”, in Toledo Blade (Ohio):

The NINA loan is the basis for the apocryphal “NINJA” loan that is often used as an example of excesses in the boom-era mortgage market. NINJA supposedly stood for “no-income, no job, no assets,” but no such loan ever existed. Also, the NINA code, which did exist, did not signify a loan to a borrower with no income. Rather, the code signified that the lender had no information about the borrower’s income.

2012 May, Christopher L. Foote, Kristopher S. Gerardi, Paul S. Willen, “Why Did So Many People Make So Many Ex Post Bad Decisions? The Causes of the Foreclosure Crisis”, in Atlanta Fed Working Papers, Working Paper 2012-7, archived from the original on 2012-10-19, page 19n:

(finance) A mortgage loan to a borrower with no verified or stated income or assets.


ALM

asset and liability management
asset and liability management#English

(accounting, business) Initialism of asset and liability management.


CLOB

(finance) Abbreviation of central limit order book.


rouf

(slang, obsolete, money) Four shillings.

I don't want a cockle – I don't want a neuf – I don't want a fat lady or a nevis – I don't want an exis, a flim or a rouf – or a carpet or bottle – These green flip-flops are a phunt a pair! And they've all got to go!

2014, David Eldridge, Market Boy, A&C Black, →ISBN, page 48:

(costermongers) The number four.
(slang, money) Four pounds sterling.


interest-free

The government is offering interest-free loans for the purchase of energy-efficient appliances.

(finance) Not charging interest; not subject to interest payments.


negative gearing

negative gearing (plural negative gearings)

(finance) A form of leveraged speculation in which a speculator borrows money to buy an asset, but the income generated by that asset does not cover the interest on the loan


paythrough

a paythrough bond

a paythrough structure

(finance, chiefly attributive) A kind of security issued by a trust, allocating the cash flows from the underlying pool to the securities holders on a pro rata basis.


EIS

Enterprise Investment Scheme
w:Enterprise Investment Scheme

(finance, UK) Initialism of Enterprise Investment Scheme.


CTD

(finance) Initialism of cheapest to deliver.


blue-sky

In that connection, when he is heard, I wish you would ask Mr. Commissioner Thompson in regard to his experience with the blue-sky cases; that is, the issuance of fake stock.

1919, United States. Congress. House. Committee on the Judiciary, High Cost of Living as Affected by Trust and Monopolies, page 12:

Senator KENYON. Do you have any blue-sky laws in Illinois?
Mr. FORGAN. Yes, sir; we have.
Senator KENYON. Are they pretty satisfactory in preventing the fake stock?

1921, Reconstruction and Production: Hearings Before the Select Committee on Reconstruction and Production, United States Senate, Sixty-sixth Congress, Third Session, page 970:

(US, finance, dated) Involving or relating to fake stocks and bonds.


Dutch sandwich

Dutch sandwich (plural Dutch sandwiches)

The two Irish holding companies can be imagined as "bread", with the Netherlands company as a filling between them.

(finance) A form of tax avoidance, based on the Double Irish arrangement, in which revenues from income of sales of the products shipped by the second Irish company are first booked by a shell company in the Netherlands, taking advantage of generous tax laws there.


set-off

(finance) The situation where a bank or similar organisation repays itself money owed by an accountholder out of his or her account.


SWR

safe withdrawal rate
w:safe withdrawal rate

(finance) Initialism of safe withdrawal rate.


superhedging

LL-Q1860 (eng)-Flame, not lame-superhedging.wav

(finance) Describing the smallest price that can be paid for a portfolio such that its worth will be greater or equal at a specified future time.


subhedging

(finance) Describing the greatest price that can be paid for a portfolio such that its worth will be less or equal at a specified future time


deindexation

deindexation (usually uncountable, plural deindexations)

(finance) The removal of indexation (index-linking of a monetary value).


money mule

Fraudsters known as “herders” recruit money mules, creating vast webs of linked online accounts. This enables stolen money to pass swiftly through multiple banks, often via different countries, before the criminals cash out the proceeds — making it virtually impossible to trace.

2020 December 8, Claer Barrett, “Could your child be recruited as a money mule?”, in Financial Times:

(crime, finance, slang) A person who transfers stolen or defrauded money or merchandise from one country to another, either in person, through a courier service, or electronically.


pledgable

(finance) Able to be used as a pledge, or as collateral


MSC

(business, finance) Initialism of Melbourne Securities Corporation.


water

water (countable and uncountable, plural waters)

desc

Antigua and Barbuda Creole English: wata

Aukan: wataa

Australian Kriol: woda

Belizean Creole: waata

Bislama: wota

Cameroon Pidgin: wata

Grenadian Creole English: wata

Gullah: wata

Islander Creole English: waata

Jamaican Creole: wata

Krio: wata

Nicaraguan Creole: wáta

Pichinglis: wàtá

Pijin: wata

Pitcairn-Norfolk: worta

Saramaccan: wáta

Sranan Tongo: watra

Tok Pisin: wara

→ American Sign Language: 6@Chin

→ Catalan: vàter

→ Spanish: váter

Etymology tree
Proto-Indo-European *wed-
Proto-Indo-European *-r̥
Proto-Indo-European *wódr̥
Proto-Germanic *watōr
Proto-West Germanic *watar
Old English wæter
Middle English water
English water
From Middle English water, from Old English wæter (“water”), from Proto-West Germanic *watar, from Proto-Germanic *watōr (“water”), from Proto-Indo-European *wódr̥ (“water”).
cognates
Cognate with cf, North Frisian weeter (“water”), Saterland Frisian Woater (“water”), West Frisian wetter (“water”), Dutch water (“water”), Low German Water (“water”), German Wasser, Old Norse vatn (Swedish vatten (“water”), Danish vand (“water”), Norwegian Bokmål vann (“water”), Norwegian Nynorsk and Icelandic vatn (“water”), Old Irish coin fodorne (“otters”, literally “water-dogs”), Latin unda (“wave”), Lithuanian vanduõ (“water”), Russian вода́ (vodá, “water”), Albanian ujë (“water”), Ancient Greek ὕδωρ (húdōr, “water”), Armenian գետ (get, “river”), Sanskrit उदन् (udán, “wave, water”), Hittite 𒉿𒀀𒋻 (wa-a-tar).

cog

Northern England, dated; obsolete elsewhere

[ˈʋaːʈər(ɯ)]

couldn't pour water out of a boot with the instructions on the heel

every miller draws water to his own mill

the mill cannot grind with water that is past

you can lead a horse to water but you can't make him drink

you can lead a horse to water, but you can't make it drink

you can lead horses to water, but you can't make them drink

you don't miss the water till the well runs dry

you never miss the water till the well runs dry

you never miss the water until the well runs dry

Iowa Governor Will Fight Rock Island Reorganization. He Says That Under the New Plan Too Much Water Is Put Into the Stock—Believes Plan Is Out of Harmony with Iowa Laws.

1902 August 2, “Too Much Water to Suit Cummins”, in The Atlanta Constitution:

the outstanding stock and bond obligations of the company were reduced from $34,000,000 to $24,000,000 by squeezing out the water.

1920 April 11, “Says Stock 'Water' Didn't Affect Fare”, in New York Times:

(uncountable, dated, finance) Excess valuation of securities.


water

en-verb

water (third-person singular simple present waters, present participle watering, simple past and past participle watered)

waters (present singular third-person)
watering (participle present)
watered (participle past)
watered (past)

From Middle English wateren, from Old English wæterian, from Proto-Germanic *watrōną, *watrijaną, from Proto-Germanic *watōr (“water”), from Proto-Indo-European *wódr̥ (“water”).
cognates
Cognate with Scots watter (“water”), Saterland Frisian woaterje (“to water”), West Frisian wetterje (“to water”), Dutch wateren (“to water”), German Low German watern (“to water”), German wässern (“to water”), Danish vande (“to water”), Swedish vattna (“to water”), Icelandic vatna (“to water”).

[ˈʋaːʈər(ɯ)]

such agencies would make it possible for the railroads to water stock and evade the law subjecting security issues to public regulation

1930 April 10, “Calls Rail Holding Companies Threat”, in The Sun:

(transitive, dated, finance) To overvalue (securities), especially through deceptive accounting.


profit center

Coordinate term: cost center

(accounting, management) A unit or department of a company which is expected to make an identifiable contribution to the organization's profits.


arb

en-noun

arb (countable and uncountable, plural arbs)

(finance, trading) The act of or potential for arbitrage.

(countable, finance, trading) One who engages in arbitrage; an arbitrageur.


arb

en-verb

arb (third-person singular simple present arbs, present participle arbing, simple past and past participle arbed)

arbs (present singular third-person)
arbing (participle present)
arbed (participle past)
arbed (past)

(finance, trading, transitive) To engage in arbitrage.


director's loan

en-noun

director's loan (plural directors' loans)

(finance) The borrowing of money by a company director from their company.


redenomination

redenomination (countable and uncountable, plural redenominations)

Argentine austral
Argentine peso
ISO 4217

After the redenomination, the new peso was worth 100 old pesos.

(economics, finance) The recalibration of the face value of a currency, most frequently by multiplying that value by a power of 10, sometimes followed by the demonetization of any cash issued with the original face value.


cash and carry

cash and carry (countable and uncountable, plural cash and carries)

(uncountable, finance) A means by which someone purchases something and sells a future or forward based on it.


SFY

(US, finance) Initialism of state fiscal year.


antioption

en-adj

antioption (comparative more antioption, superlative most antioption)

more antioption (comparative)
most antioption (superlative)

cotton and grain antioption bills


anticonduit

A captive, located in a qualified treaty country with an anticonduit provision, may reinsure with another reinsurer located in a taxable country. Therefore the anticonduit provisions would be violated, and the exemption would be lost.

2010, Brian Dooley, International Taxation in America:


on the books

Promptly came the reply that there was no record on the books of father's owning any stock.

1908 February 19, Jack London, chapter 11, in The Iron Heel, New York, N.Y.: The Macmillan Company; London: Macmillan & Co., →OCLC:

The Southern acquired them because the little Class "B4" 0-4-0 tanks were finding heavy modern rolling stock more and more of a handful, and at war's end the railway had nothing of suitable power but short wheelbase on its books to take their place on the more tortuous of the dock lines.

1959 February, G. Freeman Allen, “Southampton—Gateway to the Ocean”, in Trains Illustrated, page 91:

The immediate problem was $100 million in inventory, which Mattel thought had been sold, that mysteriously reappeared on the books at Learning Co. Oops.

1999 October 17, Karl Taro Greenfeld, “Mattel: Some (Re)Assembly Required”, in Time:

Recorded or registered, especially in an official or definitive manner.

(business, accounting) Officially recorded in the financial records of a company or organization.


SMSF

(Australia, finance) Initialism of self-managed superfund.


club together

en-verb

club together (third-person singular simple present clubs together, present participle clubbing together, simple past and past participle clubbed together)

clubs together (present singular third-person)
clubbing together (participle present)
clubbed together (participle past)
clubbed together (past)

A sailing vacation does not need to be expensive, if you club together with friends and share a week's rent of a 10-berth yacht.

If we club together, we will be able to by her the fur coat that she really wants.

(finance) To contribute money jointly with others.


GRAT

(US, finance) grantor-retained annuity trust


melt up

melt up (third-person singular simple present melts up, present participle melting up, simple past and past participle melted up)

melts up (present singular third-person)
melting up (participle present)
melted up (participle past)
melted up (past)

(finance) Of the price of a security, to increase to an unexpected degree.


cost of goods sold

en-noun

cost of goods sold (plural costs of goods sold)

(finance, accounting) The expense of acquiring the inventory that is sold during a given accounting period.

銷貨成本 /销货成本

expense of acquiring certain inventory that is sold


lookback

Another interesting path-dependent option is the lookback option. A lookback call allows you to buy the asset at the lowest price and a lookback put allows you to sell it at the highest price attained during the life of the option.

2009, Don M. Chance, Robert Edwin Brooks, An Introduction to Derivatives and Risk Management:

The principle of a lookback option is to give the investor the maximum payoff based on perfect hindsight.

2011, Frans de Weert, Exotic Options Trading:

(finance, often attributive) A kind of exotic option whose payoff depends on the optimal (maximum or minimum) underlying asset's price occurring over the life of the option.


chequable

Ten thousand dollars is left in a 3 per cent chequable account or $9,000 in a non-chequable savings account with $1,000 held in a no-interest chequing account.

1977, Andrew J. Allentuck, The cost of age, page 52:

(finance, of an account) On which cheques can be drawn.


financial institution

financial institution (plural financial institutions)

(business, banking, finance) An institution, such as a bank, insurance company or fund, that provides financial services for its clients or members.


fixed income

fixed income (countable and uncountable, plural fixed incomes)

(finance) Any type of investment under which the borrower/issuer is obliged to make payments of a fixed amount on a fixed schedule.


group certificate

group certificate (plural group certificates)

(Australia, finance) A statement of earnings from an employer or government department, used for taxation purposes.


FIRE

(finance) Acronym of financial independence and retire early.


private investment banker

private investment banker (plural private investment bankers)

(finance) An investment banker who manages the portfolio of a private individual.


investment banker

investment banker (plural investment bankers)

(finance) A banker who works for an investment bank.


peer-to-peer lending

(finance) The online lending of money to a person or organization by a group of unrelated people who each commit a relatively small amount.


IOI

(finance) Initialism of indication of interest: a buyer's non-binding interest in buying a security


personal capital

personal capital (usually uncountable, plural personal capitals)

Having two unsold houses on the market for a long time "has eaten a lot of our personal capital," Alexander said.

1982 September 13, Christopher Helman, “Facing Bankruptcy, He Throws A Party”, in Observer-Reporter, Pennsylvania, USA, retrieved 2013-10-07:

He could spend shareholders’ capital acquiring massive stretches of land, then only put up his own personal capital to invest in the wells drilled into the best parts of those plays.

2013 February 21, “A Turnaround At Chesapeake Energy? Not Yet.”, in Forbes, retrieved 2013-10-07:

(finance) Financial resources or other wealth belonging to a particular person, especially when used for investment purposes.


idiologus

(finance, historical) The chief financial officer in Egypt when it was part of the Roman Empire.


fractional reserve banking

fractional reserve banking (uncountable)

(finance, chiefly banking) A widespread banking system in which a bank that accepts deposits from the public puts the majority of those deposits into investments (generating a profit for the bank) as opposed to keeping them all in reserve (i.e., directly on hand); the system assumes that it is unlikely that every customer would need to withdraw their money at the same time (i.e., a bank run).


sales profit

sales profit (countable and uncountable, plural sales profits)


affinity card

Typically, an affinity card holder should produce between $8 and $12 per year to the affinity group," said George Hanold, president of Alliance Marketing, a company that sets up agreements between banks and groups.

1987 November 29, Diane Cole, “What's New in Fund-Raising: Using Plastic to Rev Up Revenues”, in New York Times, retrieved 2013-10-29:

[I]ssuers of credit cards . . . began years ago with such offerings as travel discounts and so-called affinity cards, which feature the logos of sports teams or donate a portion of every charge to charity.

2001 June 24, Janice Castro, “Financial Services: Charge It Your Way”, in Time, retrieved 2013-10-29:

In August of 2007, Yale University signed a seven-year deal with Chase Bank, worth a guaranteed $7.98 million, to sell access to alumni, staff, sports fans and potentially students for the bank's credit cards. . . . Yale's contract provides the university with many controls over to whom and when the affinity card can be marketed.

2010 June 7, Rob Varnon, “Bank pays millions to Yale to market its credit cards”, in newstimes.com, retrieved 2013-10-29:

(finance) A credit card made available by a bank or other lender to qualified people associated with a sponsoring organization (such as a club, educational institution, charity, or business), typically with provision for a portion of the lender's interest income to be paid to the sponsor and sometimes providing special benefits (such as reduced fees) for the users.

jäsenyyteen perustuva luottokortti

there's no fixed term, but this phrase will be understood correctly


foreign direct investment

foreign direct investment (countable and uncountable, plural foreign direct investments)

foreign direct investments (plural)
FDI (abbreviation)

(finance, economics) Direct investment into production or business in a country by an individual or company of another country, either by buying a company in the target country or by expanding operations of an existing business in that country.