Stock Market Terms and Stock Market Dictionary: Slovene, German, French and Italian
Read this stock market for beginner's financial dictionary which contains definitions and translations of stock market terms in German, French, Italian and Slovene language.
You can find many stock market terms in our "Stock Market for Beginners Financial Dictionary", which are explained in simple English and translated to German, French, Italian and Slovene language. If you have the time and knowledge to make the translation and if you will provide it to us for free, we welcome you to send us translations of all the presented financial terms also in your local language. We are still missing translation of stock trading terms in Spanish, Chinese, Russian, Indian, and other languages. If there is another financial term we didn't cover yet, you can also send us suggestion for inclusion on the stock market terms list. Please feedback us also in case you find any wrong translation or an error in description of the stock term. In each case please use the form Contac us about Stock Market Dictionary in another language or expansion of stock trading terms at the end of this page to contact us. We will be more than happy to extend our database and help investors of your country better understand the world of finance and investing.
For easier navigation through stock market terms and dictionary, all the data is written in the following order:
- In the first row the
English stock market term is written in blue and bold text. - In the second row you can find
Slovene (SI), 
German (DE), 
French (FR) and 
Italian (IT) translations of the English stock trading term. German stock market term translation has a prefix DE for example and so on. - In the third and the last row you can find English description of the stock market term, explaining the meaning of the term itself (italic text).
Stock Market Terms Navigation By Letter
A | B | C | D | E | F | G | H | I | J | K | L | M | N | O | P | Q | R | S | T | U | V | W | Y | Z
A - Stock Market Terms Starting With Letter A
AAA
SI: AAA, DE: AAA, FR: AAA, IT: AAA
Highest debt grade in the rating system used by Standard & Poor's for securities in the international financial markets.
Absolute Return
SI: Absolutni donos, DE: Absolute Rendite, FR: Rendement Absolu, IT: Rendimento Assoluto
The return generated by an asset over a period of time. Absolute return differs from relative return because it does not compare performance with other measures (such as a benchmark).
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Acquisition
SI: Prevzem, DE: Übernahme, FR: Reprise, IT: Acquisizione
Synonym for takeover.
ADR
SI: ADR, DE: ADR, FR: ADR, IT: ADR
Registered certificate with the Securities and Exchange Commission (SEC) issued and quoted on the US market in USD and evidencing non-US equity paper. Holders of ADRs essentially enjoy the same ownership and membership rights as shareholders.
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All-Ordinaries (All-Ords)
SI: All-Ordinaries, DE: All-Ordinaries, FR: All-Ordinaries, IT: All-Ordinaries
A stock index comprised of over 300 common (ordinary) shares from the Australian Stock Exchange (ASX).
Alpha
SI: Alfa, DE: Alpha, FR: Alpha, IT: Alfa
Ratio which expresses risk-adjusted performance of an investment fund. If the average return on a security or portfolio is larger than its expected return, the alpha is positive. If the average return is smaller than expected, the alpha is negative.
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Annual General Meeting
SI: Letna skupščina, DE: Hauptversammlung, FR: Assemblée générale annuelle, IT: Assemblea generale
A meeting for shareholders tha must be held every year so they can view and discuss the records of the company.
Arbitrage
SI: Arbitraža, DE: Arbitrage, FR: Arbitrage, IT: Arbitraggio
The practice of taking advantage of a price difference in different markets by buying and selling securities at the same time.
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Ask Price
SI: Ponudba, DE: Briefkurs, FR: Cours Vendeur, IT: Corso Lettera
Price at which someone is prepared to sell securities, foreign exchange, foreign bank notes or precious metals. The same as selling price or offer price.
Asset Allocation
SI: Razpršitev naložb, DE: Asset-Allocation, FR: Allocation D'Actifs, IT: Asset Allocation
Composition of a portfolio by currency and asset class.
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Asset Class
SI: Tip vrednostnega papirja, DE: Anlageklasse, FR: Catégorie De Placement, IT: Categoria Di Investimento
Any collection of assets that reacts in a unique way to the fundamental drivers of the economy. Most important asset classes are equity, fixed income, money market investments, commodities and real estate.
Asset Management
SI: Upravljanje s sredstvi, DE: Asset-Management, FR: Gestion D'Actifs, IT: Asset Management
Range of services offered by banks for the active management of a client's assets under a portfolio management mandate. Asset management is synonymous with portfolio management or wealth management.
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Assets
SI: Sredstva, DE: Aktiven, FR: Actif, IT: Attivo
Assets are everything a company owns and are divided into categories such as fixed assets (buildings and machinery), intangible assets (patents and good will), and current assets (inventories and accounts receivable).
Aussie Bond
SI: Aussie, DE: Aussie-Bond, FR: Aussie, IT: Aussie Bond
Bond issued by foreign borrowers and denominated in Australian dollars (AUD).
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B - Stock Market Terms Starting With Letter B
Backtesting
SI: Testiranje, DE: Backtesting, FR: Contrôle A Posteriori, IT: Backtesting
Checking value-at-risk calculations and investment and hedge strategies against historic data. Backtesting enables the robustness of models to be tested under market conditions.
Bank Of Japan
SI: Bank Of Japan, DE: Bank Of Japan, FR: Banque Du Japon, IT: Bank Of Japan
Abbr.: BoJ. Japanese central bank.
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Bankruptcy
SI: Bankrot, DE: Konkurs, FR: Faillite, IT: Fallimento
Inability to meet payment obligations, which leads to liquidation of the assets according to a specific plan.
Bear Market
SI: Medvedji trg, DE: Bärenmarkt, FR: Marché Baissier, IT: Mercato Bear
Also: market decline. General decline in prices, especially in the stock markets. Opposite: bull market.
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Benchmark
SI: Primerjalni indeks, DE: Benchmark, FR: Benchmark, IT: Benchmark
Also: Reference Index. Reference parameter (e.g. a share index or an index portfolio) used to compare the performance of a portfolio. A benchmark that is an index is also called a reference index.
Beta
SI: Beta, DE: Beta, FR: Beta, IT: Beta
Measure of the sensitivity of an equity or a portfolio to the overall market. A beta of >1 indicates that the relevant share or portfolio is subject to larger earnings fluctuations and thus carries a larger systematic risk than the overall market.
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Bid Price
SI: Povpraševanje, DE: Geldkurs, FR: Cours Acheteur, IT: Corso Denaro
Price which a buyer offers for the purchase of securities, foreign exchange or foreign banknotes. In other words, the price or terms at which a person is willing to buy. Opposite: asked or ask price.
Bid-Ask Spread
SI: Razlika med povpraševanjem in ponudbo, DE: Geld-Brief-Spanne, FR: Écart Cours Offert-Demandé, IT: Scarto Denaro-Lettera
Spread applied by banks, determined by transaction costs plus a profit margin.
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biotechetf.net
SI: biotechetf.net, DE: biotechetf.net, FR: biotechetf.net, IT: biotechetf.net
Block Trading
SI: Trgovanje s svežnji, DE: Blockhandel, FR: Négoce De Lots Importants, IT: Compravendita Per Blocchi
Trading in large packages of securities.
Blue Chip
SI: Priznano podjetje, DE: Blue Chip, FR: Blue Chip, IT: Blue Chip
Stock of a large, national company with a solid record of stable earnings and/or dividend growth and a reputation for high quality management and/or products.
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Bond Market
SI: Trg obveznic, DE: Obligationenmarkt, FR: Marché Obligataire, IT: Mercato Obbligazionario
Market for government, municipal or corporate debt securities.
Bonds
SI: Obveznice, DE: Anleihen, FR: Obligations, IT: Obbligazioni
Instruments with main exposure in the fixed income markets, i.e. interest rate and issuer risks. Includes convertible bonds and structured products with guaranteed principal protection.
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Book Value
SI: Knjigovodska vrednost, DE: Buchwert, FR: Valeur Comptable, IT: Valore Contabile
The value at which assets are carried on the books of account. Generally, fixed assets are shown at cost less normal depreciation while inventories may be carried at cost or market value, whichever is lower. The book value of a share is the company's net worth divided by the number of shares outstanding.
Break-Even
SI: Točka pokritja stroškov, DE: Breakeven, FR: Seuil De Rentabilité, IT: Break Even
Also: break-even point, break even, profitability threshold. In option transactions the price of an underlying at which the cost of purchasing an option is covered.
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bricetf.net
SI: bricetf.net, DE: bricetf.net, FR: bricetf.net, IT: bricetf.net
Brokerage Fee
SI: Borzno posredništvo, DE: Courtage, FR: Courtage, IT: Commissione Di Borsa
The service fee charged by a stockbroker to a client for executing purchase or sale orders for securities, commodities, etc. Brokerage fee scales are usually degressive, i.e. the percentage rate for large-volume orders is less than for small orders.
BrokersWiki.com
SI: BrokersWiki, DE: BrokersWiki, FR: BrokersWiki, IT: BrokersWiki
Online Broker Reviews - Stocsk, Forex and other brokers: Ratings, Comparisons, News, Bonuses, and More.
Bull Market
SI: Bikovski trg, DE: Bullenmarkt, FR: Marché Haussier, IT: Mercato Bull
Market where prices are rising.
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Bullion Coin
SI: Naložbeni kovanci, DE: Bullion-Coin, FR: Bullion Coin, IT: Bullion Coin
Coin made from precious metals whose value is based on its precious metal content. Bullion coins are minted in large numbers as they combine the advantages of coins and bars.
Bund
SI: Bund, DE: Bund, FR: Bund, IT: Bund
German government bond with a maturity of up to 30 years. The 10-year Bund serves as the benchmark for the German and other European bond markets.
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C - Stock Market Terms Starting With Letter C
Cable
SI: Kabl, DE: Cable, FR: Cable, IT: Cable
Exchange rate between USD and GBP.
Call Option
SI: Nakupna opcija, DE: Call, FR: Option D'Achat, IT: Call
Option conveying the right to purchase the underlying. Opposite: put.
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Callable
SI: Možnost predčasnega odpoklica, DE: Kündbar, FR: Callable, IT: Callable
Descriptive term applied to a loan or to securities that can be repaid ahead of schedule at the request of the borrower.
Capital Asset Pricing Model (CAPM)
SI: model določanja cen dolgoročnih naložb - CAPM, DE: Capital Asset Pricing Model (CAPM), FR: Capital Asset Pricing Model (CAPM), IT: Capital Asset Pricing Model (CAPM)
A model that describes the relationship between risk and expected return that is used in the pricing of risky stocks. Not a model favoured by value investors as the focus is on price, not value.
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Capital Gain-Loss
SI: Kapitalski dobiček-izguba, DE: Kapitalgewinn-Verlust, FR: Gain-Perte En Capital, IT: Utile-Perdita Di Capitale
Positive/negative difference between the price at which an investment is purchased and the price at which it is sold. Profit or loss on the realization of a long-term investment.
Capital Increase
SI: Dokapitalizacija, DE: Kapitalerhöhung, FR: Augmentation De Capital, IT: Aumento Di Capitale
Move by a corporation (joint stock company) to raise its capital stock (share capital) by issuing additional shares or participation certificates.
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Capital Market
SI: Kapitalski trg, DE: Kapitalmarkt, FR: Marché Des Capitaux, IT: Mercato Dei Capitali
Any place or system where the requirements of business enterprises and public authorities or governments for medium- and long-term capital funds can be met. Opposite: money market.
Carry Trade
SI: Carry Trade, DE: Carry-Trade, FR: Carry Trade, IT: Carry Trade
Capital transaction where a bond dealer borrows short-term funds and invests them in long-term bonds or gets a credit in a country with low interest rate and invest's that money in money market of a country with a higher interest rate.
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Cash Equity
SI: Osnovni instrument, DE: Cash Equity, FR: Cash Equity, IT: Cash Equity
Physical shares as opposed to derivative products
Cash Flow
SI: Denarni tok, DE: Cashflow, FR: Flux De Trésorerie, IT: Cash Flow
Financial analysis: the flow of money payments to or from a company over a given period (e.g. over the course of a year). The cash flow is the net profit plus depreciation and provisions in the period in question. Extraordinary or accrued expenses and income should be excluded from calculation of the cash flow so that the total figure reflects as clearly as possible the true earnings performance of the company in question for the period.
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Cash Market
SI: Denarni trg, DE: Kassamarkt, FR: Marché Au Comptant, IT: Mercato A Pronti
The here-and-now market for immediate delivery and payment. Opposite: futures market.
Central Bank
SI: Centralna banka, DE: Notenbank, FR: Institut D'Émission, IT: Istituto Di Emissione
Only institution which has the right to issue banknotes, constitutes the monetary and credit policy authority of a currency zone.
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Central Bank Powers
SI: Pooblastila centralne banke, DE: Notenbankinstrumentarium, FR: Moyens D'Action De La Banque Centrale, IT: Strumentario Dell'Istituto Di Emissione
Powers granted to a central bank in respect of credit, monetary and currency policy. Areas commonly covered include discount and lombard policy, repurchase transactions, open market policy and the definition of minimum reserves.
Certificate Of Deposit (CD)
SI: Potrdilo o vlogi, DE: Depositenzertifikat; Certificate-Of-Deposit, FR: Certificat De Dépôt, IT: Certificato Di Deposito
A certificate of deposit is a money market instrument and negotiable claim issued by a bank in return for a short- to medium-term deposit usually lasting 1-12 months, but in exceptional cases up to 5 years. By issuing the certificate the bank confirms that it has received a certain sum and that it will repay this amount to the lender together with the interest due at the end of the period decided upon by the lender.
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Chart
SI: Grafikon, DE: Chart, FR: Chart, IT: Chart
Graph showing the price movements of shares or other securities. Charts are used by stock market analysts to predict stock price movements over the short and medium term, taking into account trading volumes and other factors.
Chinese Wall
SI: Kitajski zid, DE: Chinese Wall, FR: Chinese Wall, IT: Chinese Wall
Separation of lending business from securities business at a full-service bank in order to prevent a conflict of interests which would be detrimental to the client due to the confidentiality of the information concerned.
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Clearing
SI: Kliring, DE: Clearing, FR: Clearing, IT: Clearing
A system used to settle mutual indebtedness between a number of organizations (banks, brokers, etc). All claims are set against one another, a balance is struck at agreed intervals and only the differences are settled. Used frequently in securities clearing.
Clearstream
SI: Clearstream, DE: Clearstream, FR: Clearstream, IT: Clearstream
International clearing company formed in 2000 from the merger of CEDEL and Deutsche Bank Clearing. Website: www.clearstream.com.
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Closing Price
SI: Zaključni tečaj, DE: Schlusskurs, FR: Cours De Clôture, IT: Corso Di Chiusura
Price of the final trade in a security at the end of a trading session.
Commodity Exchange
SI: Blagovna borza, DE: Rohwarenbörse, FR: Bourse De Marchandises, IT: Borsa Merci
Exchange specializing in commodities / raw materials contracts.
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Commodity Futures Contract
SI: Surovinska terminska pogodba, DE: Warenterminkontrakt, FR: Contrat A Terme De Marchandises, IT: Contratto Per Consegna A Termine Di Beni Reali
Contractual agreement to sell or purchase a standardized amount of a specific physical commodity (e.g. grain, metal, oil) at a predetermined price and at a set date in the future.
Common Stock
SI: Navadna delnica, DE: Stammaktie, FR: Action Ordinaire, IT: Azione Ordinaria
Any shares that are not preferred shares and do not have any predetermined dividend amounts. Also called ordinary shares, they represents equity ownership in a company and entitles the owner to a vote in matters put before shareholders in proportion to their percentage ownership in the company.
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Composite Index
SI: Kompozitni indeks, DE: Composite-Index, FR: Indice Composite, IT: Indice Composito
A grouping of equities, indexes or other factors combined in a standardized way, providing a useful statistical measure of overall market or sector performance over time.
Compound Interest
SI: Obrestno obrestni način izračunavanja, DE: Zinseszins, FR: Intérets Composés, IT: Interesse Composto
Interest which is accrued on previous interest that has become due and been added to the principal amount.
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Consolidated Balance Sheet
SI: Konsolidirana bilanca stanja, DE: Konsolidierte Bilanz, FR: Bilan Consolidé, IT: Bilancio Consolidato
A balance sheet showing the financial condition of a corporation and its subsidiaries.
Consumer Price Index
SI: Potrošniški cenovni indeks, DE: Konsumentenpreisindex; Verbraucherpreisindex, FR: Indice Des Prix A La Consommation, IT: Indice Dei Prezzi Al Consumo
An index that measures the prices of consumer goods in a country, based on a basket of goods intended to replicate the purchasing habits of a typical consumer.
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Continuous Trading
SI: Neprekinjeno trgovanje, DE: Laufender Handel, FR: Marché Permanent, IT: Contrattazione Continua
Also regular trading. The third session of stock market trading, during which new orders are continually matched to existing ones in the order book according to the matching rules, and orders that cannot be executed are entered in the order book.
Contract For Difference (CFD)
SI: Pogodba na razliko v ceni, DE: Contract For Difference, FR: Contract For Difference, IT: Contract For Difference
A highly leveraged derivative product that allows speculators to bet on the movement in the price of an underlying share. Like other derivatives, CFDs do not entitle you to physical ownership of the underlying share. This is not a financial product that value investors would be interested in.
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Contrarian Investment
SI: Strategija kontrainvestiranja, DE: Contrarian Investment, FR: Contrarian investimenti, IT: Contrarian investimenti
A style of investment characterized by acting opposite to the crowd, and therefore exhibiting independent critical thinking. Value investors may sometimes be contrarian when the intrinsic value of a stock falls below its market price.
Convertibility
SI: Konvertibilnost, DE: Konvertibilität, FR: Convertibilité, IT: Convertibilita
The ability of one currency to be converted into another.
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Core Inflation
SI: Osnovna inflacija, DE: Kerninflation, FR: Inflation Sous-Jacente, IT: Inflazione Core
Inflation excluding the components of the consumer price index with the greatest upward and downward fluctuations.
Corporate Action
SI: Korporacijska akcija, DE: Corporate Action, FR: Corporate Action, IT: Corporate Action
Any event that brings material change to a company and affects its shareholders, both common and preferred, as well as bondholders. These events, such as splits, dividends, mergers, acquisitions and spin-offs, are generally approved by the company's board of directors; shareholders are permitted to vote on some events as well.
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Corporate Bond
SI: Podjetniška obveznica, DE: Unternehmensanleihe, FR: Obligation D'Entreprise, IT: Obbligazione Societaria
Fixed-income security issued by an industrial firm.
Corporation
SI: Delniška družba, DE: Aktiengesellschaft, FR: Société Anonyme, IT: Societa Anonima
Synonym for joint stock company.
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Cost Averaging
SI: Metoda povprečenja, DE: Cost Averaging, FR: Cout de la moyenne, IT: Costi di mediazione
Strategy of investing fixed amounts in regular purchases of certain securities (equities, investment fund certificates), thereby achieving a lower average purchase price. When the share price is high, the regular amount buys fewer shares than when the share price is low. So over time you average down the price of shares that you are buying.
Countercyclical
SI: Kontraciklično, DE: Antizyklisch, FR: Anticyclique, IT: Anticiclico
Term that means trading against the trend. Countercyclical investors buy shares in a falling market, for instance, in the hope that prices will go up again. Opposite: procyclical.
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Counterparty Risk
SI: Tveganje nasprotne stranke, DE: Gegenparteirisiko, FR: Risque De Contrepartie, IT: Rischio Di Inadempienza Della Controparte
Loss that a bank would incur if a business partner were to become insolvent.
Country Risk
SI: Deželno tveganje, DE: Länderrisiko, FR: Risque Pays, IT: Rischio Paese
Risk arising from political, economic, legal or social factors in a particular country.
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Coupon
SI: Kupon, DE: Coupon, FR: Coupon, IT: Cedola
A certificate attached to a bond or share which, when detached and presented to the issuer of the security, entitles the bondholder or shareholder to receive the interest payment or dividend or to exercise rights. Due to the dematerialization of securities trading, coupon is now often only used in a figurative sense.
Coupon Yield
SI: Kuponski donos, DE: Couponrendite, FR: Rendement Du Coupon, IT: Rendimento Cedolare
Annual interest paid out on a bond expressed as a percentage of the current market price.
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Credit
SI: Kredit, DE: Kredit, FR: Crédit, IT: Credito
Also: loan. Legal operation by which the creditor transfers money to the borrower which he/she must repay at the end of the term, when called or in instalments. Loans must be repaid and normally entail interest payments. Loans are categorized according to length of term, cover, purpose or form of interest.
Credit Risk
SI: Kreditno tveganje, DE: Kreditrisiko, FR: Risque De Défaillance, IT: Rischio Di Credito
Risk that a borrower will be unable to meet his/her payment obligations, and that the lender will suffer a financial loss.
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Cross Rate
SI: Menjalni tečaj, DE: Cross-Rate, FR: Taux Croisé, IT: Cross Rate
An exchange rate between two currencies arrived at by dividing each currency's exchange rate by a third rate.
Currency
SI: Valuta, DE: Währung, FR: Monnaie, IT: Moneta
The monetary system of a country or group of countries. Currencies can be referred to as being hard or soft depending on the level of confidence they enjoy worldwide.
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Current Ratio
SI: Tekoči kazalnik, DE: Aktuelle Ratio, FR: Ratio de liquidité générale, IT: Current Ratio
A measure of liquidity that allows a check to see if a company is likely to have a problem taking care of current liabilities that come due. Calculated by dividing total current assets by total current liabilities. A result greater than 1.5 for the last 3 -5 years is desirable.
Custodian
SI: Skrbnik, DE: Depotstelle, FR: Dépositaire, IT: Depositario
Also: depositary; depository. Bank or broker where the valuables contained in a custody account are stored for safekeeping.
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Cycle
SI: Cikel, DE: Zyklus, FR: Cycle, IT: Ciclo Economico
More or less regular sequence of uptrends and downtrends in the performance of a market or economy.
D - Stock Market Terms Starting With Letter D
Dealer
SI: Borzni trgovec, DE: Dealer, FR: Dealer, IT: Dealer
Someone who, in addition to acting as a buying and selling agent for others, buys and sells for his own account.
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Debt-To-Equity Ratio
SI: Kazalnik dolg na sredstva, DE: Verschuldungsgrad, FR: Coefficient D'Endettement, IT: Grado D'Indebitamento
Measures the amount of long-term debt the company has as a percentage of the equity of the business. It is calculated by dividing the long-term debt obligations by the total common shareholders equity and converting to a percentage. A result less than 50% is desirable depending on the company's historical ability to handle debt.
Deep Discount Bond
SI: Obveznica z visokim diskontom, DE: Deep-Discount-Bond, FR: Obligation Fortement Escomptée, IT: Titolo A Sconto
Bond that has a coupon rate far below rates currently available on investments and whose value is at a significant discount from par value.
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Default
SI: Stečaj, DE: Verzug, FR: Défaillance, IT: Inadempienza
Failure to make required debt payments on a timely basis or to comply with other conditions of an obligation or agreement.
Deflation
SI: Deflacija, DE: Deflation, FR: Déflation, IT: Deflazione
A sharp decline in prices or an increase in the purchasing power of money, brought about by a decrease in the amount of money in circulation relative to the amount of goods and services available. Accompanied as a rule by a contraction in capital spending activity. Opposite: inflation.
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Delta
SI: Delta, DE: Delta, FR: Delta, IT: Delta
Statistical measure of the change in the price of an option when the underlying moves one unit in price.
Derivative
SI: Izvedeni instrument, DE: Derivat, FR: Dérivé, IT: Derivato
A derivative financial instrument which is linked to one or more underlying instruments such as shares, bonds, indices, etc.
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Deutscher Aktienindex (DAX)
SI: Nemški delniški indeks, DE: Deutscher Aktienindex, FR: Deutscher Aktienindex, IT: Deutscher Aktienindex
Stock index, which measures the performance of the 30 largest German companies in terms of order book turnover and market capitalization.
Direct Investment
SI: Neposredna naložba, DE: Direktanlage, FR: Investissement Direct, IT: Investimento Diretto
Direct investment in individual securities instead of, for example, in funds.
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Discount
SI: Diskont, DE: Diskont, FR: Escompte, IT: Sconto
Price reduction expressed in percent which may be deducted from the invoiced amount if payment is made within a specified period.
Discount Broker
SI: Diskontni borzni trgovec, DE: Discount-Broker, FR: Discount-Broker, IT: Discount Broker
Broker who executes stock exchange transactions at favourable rates but without providing advice.
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Discount Rate
SI: Diskontna stopnja, DE: Diskontsatz, FR: Taux D'Escompte, IT: Tasso Di Sconto
The percentage rate of interest which a bank or other lender deducts in advance from loans made, or from the face value of bills of exchange or commercial paper bought. It is calculated for the period from presentation to maturity of the instrument. The amount of the discount rate depends on the liquidity of the financial markets and the party liable under the bill.
Discounted Cash Flow (DCF)
SI: Metoda diskontiranega denarnega toka, DE: Discounted Cash Flow, FR: Flux de trésorerie escomptés, IT: Flusso di cassa scontati
A class of appraisal models based on discounting future cash flows of the company at an appropriate interest rate. The best known DCF model is the so-called dividend discount model (DDM).
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Diversification
SI: Razpršitev, DE: Diversifikation, FR: Diversification, IT: Diversificazione
Strategy of spreading an investment over different assets classes with the goal of reducing the portfolio risk.
Dividend
SI: Dividenda, DE: Dividende, FR: Dividende, IT: Dividendo
A share in the profits of a limited company (corporation) or cooperative. The rate of dividend is determined at the General Meeting upon the proposal of the Board of Directors. Distributions to the owners of participation certificates and dividend-right certificates are also called dividends. Dividends can take the form of a cash dividend (payment in cash), stock dividends and dividends in kind.
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Dividend Discount Model (DDM)
SI: Model diskontirane vrednosti dividend, DE: Dividend-Discount-Modell, FR: Dividend Discount Model, IT: Dividend Discount Model
Model for calculating the current value of a share which consists in discounting future dividends anticipated.
Dividend Yield
SI: Dividendni donos, DE: Dividendenrendite, FR: Rendement Sur Dividendes, IT: Tasso Di Rendimento Azionario
Also: stock yield. Ratio showing the yield on an equity investment calculated by dividing the dividend by the current share price and which enables a comparison to be made with other returns obtainable in the capital markets.
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Domestic Bond
SI: Domača obveznica, DE: Inlandanleihe, FR: Emprunt Intérieur, IT: Prestito Interno
Bond issue placed for public subscription by a borrower who is domiciled in the country where the issue is floated. Opposite: foreign bond issue.
Dow Jones Index
SI: Dow Jones indeks, DE: Dow-Jones-Index, FR: Indice Dow Jones, IT: Indice Dow Jones
Also Dow Jones Industrial Index, Dow Jones Industrial Average. 'The Dow' is a price-weighted average index of the New York Stock Exchange which has been regularly calculated since 1897 and which includes the top 30 US companies.
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Dow Jones Stoxx
SI: Dow Jones Stoxx, DE: Dow Jones Stoxx, FR: Dow Jones Stoxx, IT: Dow Jones Stoxx
Family of indices produced jointly by the Deutsche Börse AG, SWX Swiss Exchange as well as the media company Dow Jones via the company Stoxx Ltd. Dow Jones STOXX includes indices for European countries and for the euro currency zone. Website: www.stoxx.com.
Downgrade
SI: Poslabšanje ocene, DE: Downgrade, FR: Dégrader, IT: Downgrade
Negative change in ratings for a security. An example is an analyst's downgrading of a stock such as from "buy" to "sell".
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Dual Listing
SI: Dvojna kotacija, DE: Dual Listing, FR: Dual Listing, IT: Dual Listing
Stock listed on the stock exchanges of more than one country.
Due Diligence
SI: Skrbni pregled, DE: Due Diligence, FR: Due Diligence, IT: Due Diligence
Detailed check of a company's financial position, results of operations and cash flows, its strengths and weaknesses, future potential and the risks it is subject to; conducted prior to a planned merger or takeover.
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Duration
SI: Trajanje, DE: Duration, FR: Durée, IT: Durata
The price sensitivity of a fixed-income security to an interest rate change of 1%. Duration is measured in years but should not be confused with the maturity of a bond. For all conventional bonds, duration is shorter than maturity. In the case of zero coupon bonds, however, duration is identical to maturity.
E - Stock Market Terms Starting With Letter E
Earnings Per Share (EPS)
SI: Dobiček na delnico, DE: EPS, FR: Bénéfice Par Action, IT: EPS
Ratio of the net profit per share.
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EBIT
SI: EBIT, DE: EBIT, FR: EBIT, IT: EBIT
Net profit before deducting tax and interest.
EBITDA
SI: EBITDA, DE: EBITDA, FR: EBITDA, IT: EBITDA
Net profit plus tax, interest, depreciation and amortization.
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Economic Indicator
SI: Ekonomski kazalnik, DE: Konjunkturindikator, FR: Indicateur Conjoncturel, IT: Indicatore Congiunturale
Indicator pointing to health of the economy provided by economic activity.
Economic Moat
SI: Konkurenčna prednost, DE: Economic Moat, FR: Économique Moat, IT: Economico Moat
A way of describing the competitive edge of a company. This protection against competition can be in the form of a strong brand, the inability of customers to switch to a competitor, a cost advantage e.g., through economies of scale, or protection through such things as patents or government regulation.
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Efficient Market Hypothesis (EMH)
SI: Hipoteza učinkovitega trga, DE: Efficient Market Hypothesis, FR: Hypothese de marché efficace, IT: Efficient Market Hypothesis
An investment theory that states that it is impossible to 'beat the market' because stock market efficiency causes existing share prices to always incorporate and reflect all relevant information. The EMH is highly controversial and often disputed.
European Monetary System (EMS)
SI: Evropski monetarni sistem, DE: Europäisches Währungssystem, FR: Systeme Monétaire Européen, IT: Sistema Monetario Europeo
The European Monetary System I (EMS I) was a system of fixed, but nonetheless flexible, exchange rates determining the exchange rates for the currencies of certain EU member countries. Since the European Monetary Union came into force a new system (EMS 2) has governed the fixing of exchange rates between the euro and the currencies of those EU countries not participating in the single currency.
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European Monetary Union (EMU)
SI: Evropska monetarna unija, DE: Europäische Währungsunion, FR: Union Économique Et Monétaire Européenne, IT: Unione Monetaria Europea
The convergence of monetary policy which occurred on 1 January 1999 amongst the majority of EU member states. This convergence led to the introduction of the euro, the common European currency, in the countries party to the agreement.
Event-Driven
SI: Dogodkovna strategija, DE: Event-Driven, FR: Event Driven, IT: Event Driven
Investment strategies that concentrate on companies which are, or may be, subject to extraordinary corporate events such as restructurings, takeovers, mergers, liquidations, bankruptcies or other special situations. Event-driven strategies include merger arbitrage and distressed securities strategies with bonds or other debt instruments of distressed or bankrupt companies, as well as special situation strategies such as spin-offs, litigation or liquidations. The goal of event-driven strategies is to profit when the price of a security changes to reflect the likelihood and potential impact of the occurrence, or non-occurrence, of the extraordinary event.
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Excess Return
SI: Presežna donosnost, DE: Überschussrendite, FR: Excédent De Rendement, IT: Rendimento Eccedente
Return above the money market rate.
Exchange Rate
SI: Menjalni tečaj, DE: Devisenkurs, FR: Cours Des Devises, IT: Corso Delle Divise
The rate at which one currency is exchanged for another. The average of the bid and asked prices is taken as the mean rate.
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Exchange-Traded Fund (ETF)
SI: Sklad, ki kotira na borzi, DE: Exchange-Traded-Fund, FR: Exchange Traded Fund, IT: Exchange Traded Fund
Index fund whose composition is tied to the weighting of an index and can be traded at any time without issuing commission.
Ex-Date
SI: Presečni datum, DE: Ex-Tag, FR: Jour Ex Droit, IT: Giorno Ex
The first day after a stock dividend has become due, i.e. the day after the relevant stock is traded without the dividend.
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Ex-Dividend
SI: Brez dividende, DE: Ex Dividende, FR: Ex Dividende, IT: Ex Dividendo
A share is quoted ex dividend when the amount of the dividend has been deducted from the price. When a stock is dealt ex dividend, the buyer has no right to the last dividend, only to the next one.
Extra Dividend
SI: Dodatna dividenda, DE: Bonus, FR: Bonus, IT: Dividendo Straordinario
Special dividend distribution on shares and participation certificates made by a company in addition to its regular dividend, e.g. as a jubilee bonus.
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F - Stock Market Terms Starting With Letter F
Federal Reserve System (FED)
SI: Ameriška centralna banka, DE: Federal Reserve System, FR: Réserve Fédérale, IT: Federal Reserve System
The central bank system in the United States.
Fill-Or-Kill Order
SI: Naročilo z razponom in odstranitvijo neizvršene količine, DE: Fill-Or-Kill-Auftrag, FR: Ordre Tout Ou Rien, IT: Ordine «Fill Or Kill»
Order that is executed immediately in full or not at all.
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Financial Analysis
SI: Finančna analiza, DE: Finanzanalyse, FR: Analyse Financiere, IT: Analisi Finanziaria
Investment research of political and economic conditions.
Fiscal Policy
SI: Fiskalna politika, DE: Fiscal Policy, FR: Politique budgétaire, IT: Politica finanziaria
The spending, taxing and borrowing activities of government - as distinct from monetary policy.
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Footsie
SI: Footsie, DE: Footsie, FR: Footsie, IT: Footsie
A slang term for the FTSE 100 stock index. The Footsie consists of 100 blue chip stocks that trade on the London Stock Exchange.
Foreign Exchange Market (Forex)
SI: Devizni trg, DE: Devisenmarkt, FR: Marché Des Changes, IT: Mercato Dei Cambi
The market where foreign currencies are bought and sold.
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Free Cash Flow
SI: Prosti denarni tok, DE: Free Cash-Flow, FR: Free Cash-Flow, IT: Free Cash-Flow
Total liquid funds not required to finance operations or for capital expenditure on replacement. These free funds are available for distribution to shareholders, for new investment or for the repayment of debt capital.
Free Float
SI: Prosto razpoložljive delnice, DE: Free Float, FR: Flottant, IT: Flottante
The part of a company's shares which is not held as a long-term investment by the founder, management, etc. and can therefore be traded on a stock exchange at any time, making it available to the investing public.
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Friendly Takeover
SI: Prijateljski prevzem, DE: Freundliche Übernahme, FR: Rachat Amical, IT: Scalata Amichevole
Takeover welcomed and supported by the management of the company which is the subject of the takeover. Opposite: hostile takeover.
FTSE-100
SI: FTSE-100, DE: FTSE-100, FR: Indice FTSE 100, IT: FTSE 100
UK share price index compiled by FTSE, a company owned by the Financial Times and the London Stock Exchange. This index comprises the 100 most highly capitalised blue chip companies, representing approximately 80% of the UK market.
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Full Convertibilty
SI: Polna zamenljivost, DE: Vollkonvertibilität, FR: Convertibilité Totale, IT: Piena Convertibilita
Full convertibility means a currency can be exchanged into other currencies with virtually no restrictions.
Fund Of Funds
SI: Sklad skladov, DE: Fund-Of-Funds; Dachfonds, FR: Fonds De Fonds, IT: Fondo Di Fondi
An investment fund which invests in a number of other funds with a variety of investment strategies.
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Fund Unit
SI: Točka sklada, DE: Fondsanteil, FR: Part De Fonds, IT: Quota Di Fondo
Unit of ownership in an investment fund. Embodies the investor's right, enforceable against the management company, to a share in the assets and income of the investment fund.
Fundamental Analysis
SI: Temeljna analiza, DE: Fundamentalanalyse, FR: Analyse Fondamentale, IT: Analisi Fondamentale
Method of determining the true or intrinsic value of a share on the basis of fundamental factors (e.g. balance sheet, income statement, management record, overall industry). Used as a gauge of future profit and dividend growth. A share trading lower than its estimated intrinsic value is classed as underpriced.
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G - Stock Market Terms Starting With Letter G
Gap
SI: Cenovni preskok, DE: Gap, FR: Écart, IT: Divario
A gap is essentially an empty space between two trading periods.
Good-Till-Cancelled Order
SI: Naročilo veljavno do preklica, DE: Widerrufgültiger Börsenauftrag; Good-Till-Cancelled-Auftrag, FR: Ordre A Révocation, IT: Ordine Good-Till-Cancelled
GTC order remains valid until executed or cancelled.
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Government Bond
SI: Državna obveznica, DE: Staatsanleihe, FR: Government Bond, IT: Government Bond
Bonds issued by a government to cover its financial obligations.
Gross Domestic Product (GDP)
SI: Bruto družbeni proizvod, DE: Bruttoinlandprodukt, FR: Produit Intérieur Brut, IT: Prodotto Interno Lordo
Measure of macroeconomic performance within the domestic economy over a given period of time.
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Gross Yield
SI: Bruto donos, DE: Bruttorendite, FR: Rendement Brut, IT: Rendimento Lordo
The income produced by investments (such as securities, real estate property, etc) before any deductions, charges or taxes. Opposite: net yield.
Growth Investing
SI: Strategija rasti, DE: Growth-Style-Investing, FR: Growth-Style Investing, IT: Growth Investing
Investment strategy that focuses on companies whose earnings are expected to rise at an above-average rate.
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Growth Rate
SI: Stopnja rasti, DE: Wachstumsrate; Zuwachsrate, FR: Taux De Croissance, IT: Tasso Di Crescita
The percentage increase in a given value (e.g. real GDP) over a certain period of time (usually one year).
Growth Stock
SI: Hitro rastoča delnica, DE: Wachstumsaktie; Growth-Stock, FR: Action De Croissance, IT: Azione Di Crescita
Shares of a corporation which have scored faster-than-average earnings gains and are expected to show high levels of profit growth. As a consequence, they justify a higher P/E ratio but also constitute riskier investments than average equities.
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H - Stock Market Terms Starting With Letter H
Hedge Fund
SI: Hedge sklad, DE: Hedge-Fund, FR: Hedge Fund, IT: Hedge Fund
Largely unregulates speculative fund which uses a flexible investment strategy for capital appreciation.
High Flyer
SI: High Flyer, DE: High Flyer, FR: Valeur Volatile, IT: High Flyer
Expression used for shares showing extreme increases in their market price and mostly above-average price/earnings ratios.
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High Water Mark
SI: Metoda najvišje vodne gladine, DE: High-Water-Mark, FR: High Watermark, IT: High Water Mark
Principle whereby the manager of a hedge fund does not receive a percentage of the growth in the fund's value until any losses incurred in the previous year have been made up during the current year.
Holding Company
SI: Holdinška družba, DE: Holdinggesellschaft, FR: Société Holding, IT: Societa Holding
Company with permanent holdings in other, legally independent companies for the purpose of control or financing.
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Hostile Takeover
SI: Sovražni prevzem, DE: Feindliche Übernahme, FR: Rachat Hostile, IT: Scalata Ostile
Takeover, usually made in the form of a public offering, with the intention of replacing the current management of the target company. Opposite: friendly takeover.
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SI: howtobuypennystocks.com, DE: howtobuypennystocks.com, FR: howtobuypennystocks.com, IT: howtobuypennystocks.com
I - Stock Market Terms Starting With Letter I
Illiquid
SI: Nelikviden, DE: Unkurant, FR: Non Courant, IT: Illiquido
Securities with low volume which are difficult to buy or sell.
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Income Statement
SI: Izkaz uspeha, DE: Gewinn- Und Verlustrechnung, FR: Compte De Pertes Et Profits, IT: Conto Profitti E Perdite
A statement detailing and balancing the expense items and income items of a company for the past financial year.
Index
SI: Indeks, DE: Index, FR: Indice, IT: Indice
Indicator accounting for changes and movements in price and economy.
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Index Investing
SI: Investiranje v indekse, DE: Index Investing, FR: Indice Investire, IT: Indice Investire
Also known as passive investing or index couch potato investing, this form of investing seeks to match the performance of an index of a specific financial market. Equity index funds invest money money into the market in a way determined by some stock market index and do minimal further trading other than making adjustments as stock weightings alter.
Inflation
SI: Inflacija, DE: Inflation, FR: Inflazione, IT: Inflation
Increase in the average level of prices, which normally result in decrease of purchasing power.
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Insider
SI: Oseba z dostopom do notranjih informacij, DE: Insider, FR: Initié, IT: Insider
Person with access to confidential company business information.
Interim Dividend
SI: Vmesna dividenda, DE: Interimsdividende, FR: Dividende Intérimaire, IT: Dividendo Interinale
Initial distribution of part of the annual dividend on a company's shares. Dividends may be paid quarterly or half-yearly, on the basis of the company's ongoing accounts. Interim dividends are generally low and are kept as even as possible.
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Internal Rate Of Return (IRR)
SI: Interna stopnja donosa, DE: Internal Rate of Return, FR: Taux de Rendement Interne, IT: Tasso Interno di Rendimento
The Internal rate of return (IRR) or IRR formula is the best way to be able to accurately track your stock market share and portfolio performance. This is because share investing occurs over time and usually involves purchases and sales at irregular intervals. The measure of share performance needs to handle both the time value of money and the irregular buying and selling events.
International Accounting Standards (IAS)
SI: Mednarodni računovodski standardi, DE: International Accounting Standards, FR: Normes Comptables Internationales, IT: International Accounting Standards
Accounting standards with a view to ensuring the quality, transparency and comparability of balance sheets and annual accounts drawn up by the International Accounting Standards Board. The IAS are today known as the International Financial Reporting Standards (IFRS), but the individual IAS standards have not been renamed.
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International Bank Account Number (IBAN)
SI: IAS, DE: International Bank Account Number, FR: International Bank Account Number, IT: International Bank Account Number
Standard developed by the ISO and the ECBS for identifying banks and account numbers. Its main purpose is to simplify cross-border financial transactions and thereby rationalize payments between various countries.
International Chamber Of Commerce (ICC)
SI: IBAN, DE: Internationale Handelskammer, FR: Chambre De Commerce Internationale, IT: Camera Di Commercio Internazionale
Private, politically independent organization formed to improve trade and business relations between nations. Based in Paris, it brings together national chambers of commerce and large professional associations.
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International Monetary Fund (IMF)
SI: Mednarodni denarni sklad, DE: Internationaler Währungsfonds, FR: Fonds Monétaire International, IT: Fondo Monetario Internazionale
The most important international organization for monetary policy cooperation. The IMF, like the World Bank, was established in 1944 in Bretton Woods and is headquartered in Washington, D.C. Its aims are to monitor and stabilize the international financial system to prevent crises such as the crash of 1929. Website: www.imf.org.
International Securities Market Association (ISMA)
SI: Mednarodno združenje borz vrednostnih papirjev, DE: International Securities Market Association, FR: International Securities Market Association, IT: International Securities Market Association
Umbrella association of institutions and traders active on the Eurobond market which develops rules and regulations governing Euromarket transactions. Website: www.isma.org.
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Intrinsic Value
SI: Notranja vrednost, DE: Substanzwert, FR: Valeur Intrinseque, IT: Valore Intrinseco
Value, for example of a company, obtained using objective valuation methods.
Investment Fund
SI: Investicijski sklad, DE: Anlagefonds, FR: Fonds De Placement, IT: Fondo D'Investimento
Also: unit trust (UK), mutual fund (USA). Entity in which investors pool their capital for joint investment. The assets are managed by the fund management company for the account of the investors based as a rule on the principle of risk distribution. Depending on the type of investment fund, the assets may be invested in securities, money market instruments or in real estate; investments can also be made in special fund products and asset allocation funds. Swiss investment funds must have a variable capital and are obliged to redeem units whenever requested.
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Investment Horizon
SI: Naložbeni horizont, DE: Anlagehorizont, FR: Horizon De Placement, IT: Orizzonte Temporale
Period of time for which an investor wishes to invest part of his assets.
Investment Plan
SI: Investicijski načrt, DE: Anlageplan, FR: Plan D'Investissement, IT: Piano D'Investimento
Plan for the optimum investment of specific funds.
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Investment Research
SI: Investicijska raziskava, DE: Investment-Research, FR: Investment Research, IT: Investment Research
Synonym for financial analysis.
Investment Strategy
SI: Investicijska strategija, DE: Anlagestrategie, FR: Stratégie De Placement, IT: Strategia D'Investimento
Entirety of the guidelines that determine the portfolio structure in terms of investment vehicle, currency, sector and maturity structure required to achieve the defined investment objective.
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Investment Style
SI: Naložbeni stil, DE: Investment Style, FR: Style de placement, IT: Stile d'investimento
The method used to achieve a given investment objective such as asset allocation, stock selection and other means. Styles can be changed like fashions and can be mixed or hybrid. Value investing is not a style, neither can it be mixed nor hybrid. It is a pure long-term permanent commitment to the method of valuation only.
Investor
SI: Vlagatelj, DE: Anleger, FR: Investisseur, IT: Investitore
Person or institution purchasing securities or tangible assets for the purpose of earning a return or receiving the monetary value.
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ISIN
SI: ISIN, DE: ISIN, FR: ISIN, IT: ISIN
Abbreviation of International Securities Identification Number. A twelve-digit number consisting of three elements used to identify securities. The first two places are reserved for a combination of letters indicating the country of origin (e.g. DE for Germany, LU for Luxembourg). These are followed by a national identification number consisting of up to ten digits.
Issuer
SI: Izdajatelj, DE: Emittent, FR: Émetteur, IT: Emittente
Private sector corporation or public authority raising capital for its own use by issuing securities on the public market.
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J - Stock Market Terms Starting With Letter J
January Effect
SI: Vpliv januarja, DE: Januareffekt, FR: Effet Janvier, IT: Effetto Gennaio
Capital market anomaly which often results in shares, especially those of small companies, outperforming in January compared with the rest of the year. One of the strongest seasonal trends, it is sometimes attributed to the realization of tax losses which can be offset against profits accruing during the year.
Junk Bond
SI: Visoko tvegana obveznica, DE: Junk-Bond, FR: Junk Bond, IT: Junk Bond
Colloquial term for high-yield bond.
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K - Stock Market Terms Starting With Letter K
Key Interest Rate
SI: Ključna obrestna mera, DE: Leitzins, FR: Taux Directeur, IT: Tasso Guida
Also: key rate, base rate (GB), prime rate (USA). The interest rate set by a central bank for central bank funds.
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SI: korpritzombie, DE: korpritzombie, FR: korpritzombie, IT: korpritzombie
Stock Market Investing - The Stock Market For Beginners and High Return Investments.
L - Stock Market Terms Starting With Letter L
Large Cap
SI: Podjetje z visoko tržno kapitalizacijo, DE: Standardwert, FR: Valeur De Fond De Portefeuille, IT: Titolo A Largo Mercato
Also known as blue chip. Share of widely known companies with large stock market capitalizations and which are heavily traded on the stock markets.
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Leading Indicator
SI: Vodilni kazalnik, DE: Frühindikator, FR: Indicateur Avancé, IT: Indicatore Anticipatore
Economic indicator which changes before the overall economy itself changes, and is therefore seen as an indicator of future developments.
Leverage
SI: Vzvod, DE: Hebelwirkung, FR: Effet De Levier, IT: Effetto Leva
Means of enhancing profitability using borrowed money by exploiting the fact that the rate of interest on equity capital is higher than the interest payable on borrowed funds. A leverage effect can also be achieved with derivatives, enabling market operators to invest in sizeable holdings of an underlying for a relatively modest capital outlay. The upshot of leveraging is that any percentage change in the gains and losses on options and futures contracts will be larger than the corresponding change in the underlying.
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Liabilities
SI: Obveznosti, DE: Verbindlichkeiten, FR: Engagements, IT: Impegni A Breve Scadenza
A company's debts appearing on the liabilities side of its balance sheet. The liquidity requirements of Swiss banking legislation draw a distinction between short-term liabilities, which include those repayable on demand or often within one month, and total liabilities, consisting of all liabilities vis-a-vis third parties (including any provisions required). Frequently used as a synonym for obligations.
Limit
SI: Limit, DE: Limite, FR: Limite, IT: Limite
Highest price given for the purchase or sale of securities (price limit).
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Liquid Funds
SI: Likvidna sredstva, DE: Greifbare Mittel, FR: Disponibilités, IT: Fondi Disponibili
Assets which can be used immediately to make payments (cash liquidity). Liquid assets consist of cash and equivalent, giro (clearing) balances and postal checking account balances.
Liquidation Value
SI: Likvidacijska vrednost, DE: Liquidation Value, FR: Valeur de liquidation, IT: Valore di Liquidazione
A balance sheet concept that represents the amount of money that could be realized by breaking up a company, selling its assets, repaying its debt, and distributing the remainder to its stockowners.
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Liquidity
SI: Likvidnost, DE: Liquidität, FR: Liquidité, IT: Liquidita
The ability of an enterprise to meet its payment obligations on time. In a wider sense it means the availability of cash and cash-like funds within a company, on the money and capital markets and within the national or world economy.
Listing
SI: Kotacija na borzi, DE: Kotierung, FR: Cotation, IT: Ammissione Alla Quotazione
Also: admission. Admission of a security (shares, bonds, etc) for official trading on a stock exchange or exchanges.
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London Interbank Bid Rate (LIBID)
SI: LIBID, DE: London Interbank Bid Rate, FR: London Interbank Bid Rate, IT: London Interbank Bid Rate
Interest rate at which banks in London are prepared to accept each other's short-term deposits.
London Interbank Offered Rate (LIBOR)
SI: LIBOR, DE: London Interbank Offered Rate, FR: London Interbank Offered Rate, IT: London Interbank Offered Rate
Interest rate at which banks in London offer to lend out short-term deposits to one another.
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London Metal Exchange (LME)
SI: London Metal Exchange, DE: London Metal Exchange, FR: London Metal Exchange, IT: London Metal Exchange
Exchange for non-precious metals such as aluminium, copper, nickel, tin and zinc, as well as for options and futures on these underlyings. Website: www.lme.co.uk.
Long Position
SI: Dolga pozicija, DE: Long-Position, FR: Position Longue, IT: Posizione Long
A positive exposure to a quantity. Owning a security or commodity. Investor's position where the number of contracts bought exceeds the number sold. Opposite: short position.
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Long Term
SI: Dolgoročno, DE: Langzeit, FR: Long termes, IT: A lungo termine
for a value investor long term means years, usually at least five to ten years or more, rather that hours, days or weeks.
M - Stock Market Terms Starting With Letter M
Macroeconomics
SI: Makroekonomija, DE: Makroökonomie, FR: Macroéconomie, IT: Macroeconomia
The field of economics that studies the behavior of the economy as a whole. Macroeconomics examines economy-wide phenomena such as changes in unemployment, national income, gross domestic product (GDP), growth, and price levels (inflation).
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Managed Account
SI: Upravljan računa, DE: Vermögensverwaltungsdepot, FR: Dépôt Titres Avec Mandat D'Administration, IT: Deposito In Amministrazione
Also: managed portfolio. A (generally sizeable) securities safekeeping account managed by the bank on the basis of a mandate awarded by the client. The bank is authorized to perform all operations regarded as expedient within the generally accepted definition of asset management, e.g. the adjustment of securities weightings in line with market conditions and the reinvestment of freed-up resources.
Market Capitalization
SI: Tržna kapitalizacija, DE: Börsenkapitalisierung, FR: Capitalisation Boursiere, IT: Capitalizzazione Di Borsa
Also: stock market capitalization, capitalization. Value of a corporation as determined by the price of its equity. Calculated by multiplying the market value of the security (share, participation certificate) on a given day by the total number of securities in issue.
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Market Inefficiency
SI: Učinkovitost trga, DE: Marktineffizienz, FR: Inefficience Du Marché, IT: Inefficienza Di Mercato
Inequalities of information, liquidity, expertise, etc. in the market. These can result in price, rate or interest-rate differences between different marketplaces at a given time.
Market Maker
SI: Market Maker, DE: Market-Maker, FR: Teneur De Marché; Contrepartiste, IT: Market Maker
Securities dealer who regularly quotes bid and ask prices for selected instruments and buys and sells at those prices for own account.
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Market Manipulation
SI: Tržna manipulacija, DE: Marktmanipulation, FR: Manipulation Du Marché, IT: Manipolazione Del Mercato
Market manipulation is the practice of using sham transactions, other transactions without an economic basis or simply placing orders with intent to create the impression of market activity or to distort supply and demand, share prices or the valuation of securities.
Market Order
SI: Tržno naročilo, DE: Bestensauftrag, FR: Ordre Au Mieux, IT: Ordine Al Meglio
Also: unlimited order. Order for the purchase or sale of a security without specifying a price limit. This means that the entire transaction must be carried out as quickly as possible at the best possible price.
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Market Price
SI: Tržna cena, DE: Börsenwert; Kurswert, FR: Valeur Boursiere, IT: Valore Di Borsa
Also: market value. The price at which a security (share or bond, etc.) is traded on the stock exchange. The market price changes independently of the par value, if any, of the security in response to supply and demand.
Market Risk
SI: Tržno tveganje, DE: MISSING, FR: MISSING, IT: MISSING
The risk of investing in a stock market where supply and demand and general economic forces determine stock market direction.
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Market Theories
SI: Teorije trgov, DE: Börsentheorien, FR: Théories Boursieres, IT: Teorie Borsistiche
Principles or models used for predicting future stock market performance or for explaining past price trends.
Market Timing
SI: Strategija pravočasnega vstopa in izstopa, DE: Market-Timing, FR: Market Timing, IT: Market Timing
Hedge fund strategy characterized by large commitments to one or two asset classes, depending on economic or market outlook.
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Mergers & Acquisitions
SI: Združitve in prevzemi, DE: Mergers & Acquisitions, FR: Mergers & Acquisitions, IT: Mergers & Acquisitions
Abbr.: M&A. The M&A package of services that commercial and investment banks offer companies acquiring major shareholdings or entire companies. Usually embraces consultancy, identifying suitable investments, engineering the actual transaction and financing.
Micro-Cap Stock
SI: Mikro podjetje, DE: MISSING, FR: MISSING, IT: MISSING
Companies with market capitalizations between $50 million and $300 million. A micro-cap stock isn't the smallest classification - nano cap is even smaller. These terms change in value over time and place.
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Mid-Cap Stock
SI: Srednje veliko podjetje, DE: Mid Cap, FR: Mid Cap, IT: Mid Cap
Medium-sized company, which ranks between a large cap and a small cap in terms of market capitalization and trading volumes.
Minority Interest
SI: Manjšinjski interes, DE: MISSING, FR: MISSING, IT: MISSING
The shareholders in a company in which the majority of voting rights are held by another company or individual investor.
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Momentum Indicator
SI: Momentum, DE: Momentum, FR: Momentum, IT: Indicatore Di Momento
An indicator used to evaluate the trend in a share price, arrived at by dividing the current price by the price n days before.
Money Laundering
SI: Pranje denarja, DE: Geldwäscherei, FR: Blanchiment D'Argent, IT: Riciclaggio Di Denaro
Infiltration of illegally acquired assets into the legal financial system.
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MSCI World Index
SI: MSCI World Indeks, DE: MSCI-World- Index, FR: MSCI World Index, IT: Indice Mondiale MSCI
Short form: MSCI World. A global equity index for the world's developed equity markets. The MSCI World Index is compiled by Morgan Stanley, a major financial service provider. MSCI is short for Morgan Stanley Capital International.
Mutual Fund
SI: Vzajemni sklad, DE: MISSING, FR: MISSING, IT: MISSING
Stock mutual funds or managed share funds are investments where individual investors pool their money with other investors.
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N - Stock Market Terms Starting With Letter N
Naked Position
SI: Nezavarovana pozicija, DE: Ungedeckte Position, FR: Position A Découvert, IT: Posizione Scoperta
Long or short position which is not hedged by a corresponding opposite position.
Nasdaq
SI: Nasdaq, DE: Nasdaq, FR: Nasdaq, IT: Nasdaq
Acronym for National Association of Securities Dealers Automated Quotations. US electronic exchange for high-growth, innovative stocks, catering for OTC traders.
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National Bank
SI: Nacionalna banka, DE: Nationalbank, FR: Banque Nationale, IT: Banca Nazionale
Synonym for central bank.
Net Asset Value (NAV)
SI: Čista vrednost sredstev, DE: Nettoinventarwert, FR: Valeur D'Inventaire Nette, IT: Valore D'Inventario Netto
Value of an investment fund unit corresponding to the market value of the fund on a set reference date, minus liabilities and divided by the number of units outstanding.
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Net Position
SI: Neto pozicija, DE: Nettoposition, FR: Position Nette, IT: Posizione Netta
A market player's total position, ascertained by offsetting purchases against sales.
Netting
SI: Mreženje, DE: Netting, FR: Netting, IT: Netting
Mutual offsetting of claims and liabilities from identical types of transaction between two parties. Important in connection with the capital adequacy requirements applicable to banks. In industry: a method of optimizing intra-group capital transfers via a central account of net credits.
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Nikkei
SI: Nikkei, DE: Nikkei, FR: Nikkei, IT: Nikkei
Japan's Nikkei 225 Stock Average, the leading index of Japanese stocks. It is a price-weighted index comprised of Japan's top 225 blue-chip companies on the Tokyo Stock Exchange.
Non-Cash Dividend
SI: Nedenarna dividenda, DE: Naturaldividende, FR: Dividende En Nature, IT: Dividendo In Natura
Also: dividend in kind. Dividend that is paid out in the form of real assets, rather than cash.
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Non-Investment Grade
SI: Špekulativni nivo, DE: Non-Investment-Grade, FR: Non Investment Grade, IT: Non-Investment Grade
Broad term for all credit ratings below BBB, signifying that the security is speculative in nature.
Note
SI: Zapis, DE: Note, FR: Note, IT: Note
A fixed or variable-rate security legally classed as a bond or debenture issued as a private placement. The maturity is usually between five and seven years. Notes are inexpensive financing instruments for foreign issuers and have become a popular medium-term investment among institutional investors.
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O - Stock Market Terms Starting With Letter O
Off-Exchange Trading
SI: Izvenborzno trgovanje, DE: Freiverkehr, FR: Marché Libre, IT: Fuori Borsa
OTC securities trading involves securities which do not meet the requirements for trading on a regulated market and at the same time there is interest on a transparent market.
Open Position
SI: Odprtje pozicije, DE: Offene Position, FR: Position Ouverte, IT: Posizione Aperta
Portfolio position which is not yet closed.
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Overbought
SI: Prenakupljen, DE: Überkauft, FR: Surachat, IT: Ipercomprato
A market situation whern prices overall have been pushed up to a level that is viewed as too high to be sustained. The opposite of oversold.
Over-The-Counter (OTC)
SI: Izvenborzno, DE: Hors Bourse, FR: Ausserbörslicher Handel, IT: Operazioni Fuori Borsa
Securities transactions outside the stock market.
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P - Stock Market Terms Starting With Letter P
Paper Profit (Loss)
SI: Nerealizirani dobiček (izguba), DE: Papiergewinn (-Verlust), FR: Gain (Perte) Comptable, IT: Guadagno (Perdita) Nominale
Non-realized capital gains (or book losses) on securities. The difference between the current price and the original purchase price.
Position
SI: Pozicija, DE: Position, FR: Position, IT: Posizione
In derivatives or securities trading, a particular investment that is entered into in a security.
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Post-Market Trading
SI: Trgovanje po zaprtju trga, DE: Nachbörslicher Handel, FR: Apres Bourse, IT: Dopoborsa
Also: after-hours trading. Unofficial securities trading after the close of a stock exchange. Normally takes place between banks via electronic information systems.
Preferred Share
SI: Prednostne delnice, DE: Vorzugsaktie; Prioritätsaktie, FR: Action Privilégiée, IT: Azione Privilegiata
A share with preference rights, i.e. which entitles the holder to a certain preferential treatment, primarily with regard to the distribution of income (preferred dividends), the distribution of assets on liquidation and exercising subscription rights. Opposite: deferred share.
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Premium
SI: Premija, DE: Prämiengeschäft, FR: Prime, IT: Premio
In stock exchange trading, the difference between the par value and the higher market value of a security expressed as a percentage of the par value. Similarly in forex trading, the difference between a forward and spot rate, where the forward rate is the higher.
Pre-Opening
SI: Pred odprtjem trga, DE: Voreröffnung, FR: Préouverture, IT: Preapertura
Period between the close of trading on a given trading day and the opening of trading on the following trading day. During this period, orders may be entered into the order book but will not be matched.
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Price
SI: Cena, DE: Kurs, FR: Cours, IT: Corso
Securities and merchandise are quoted at a market or selling price. Foreign exchange is quoted in rates, not prices.
Price Stabilization
SI: Stabilizacija cene, DE: Kurspflege, FR: Soutenir Le Cours, IT: Sostegno Della Quotazione
Prevention of accidental large-scale fluctuations in the prices of shares or bonds by selling such securities in the event of excessive price rises and purchasing them when prices come under extremely heavy pressure.
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Price-Book Value (P/B)
SI: P/B kazalnik, DE: Kurs-Buchwert-Verhältnis, FR: Rapport Cours-Valeur Comptable, IT: Rapporto Prezzo-Valore Contabile
The ratio of the stock market price to the book value per share. If the value is below 1, this suggests the share is undervalued.
Price-Cash Flow Ratio (P/CF)
SI: P/CF kazalnik, DE: Kurs-Cashflow-Verhältnis, FR: Rapport Cours-Cash-Flow, IT: Rapporto Prezzo-Cash-Flow
Ratio of the share price to the cash flow of a company. The price of the share is divided by the cash flow per share.
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Price-Earnings Ratio (P/E, PER)
SI: P/E kazalnik, DE: Kurs-Gewinn-Verhältnis, FR: Rapport Cours-Bénéfice, IT: Rapporto Prezzo-Utili
Relationship (ratio) of the share price to the net profit of a company. It is calculated by dividing the market price of the shares by the earnings per share. The price/earnings ratio is one of the most widely used indicators for the assessment of stocks.
Price-Earnings-Growth Ratio (PEG)
SI: PEG kazalnik, DE: PEG-Ratio, FR: Ratio PEG, IT: Coefficiente PEG
Price/earnings ratio divided by projected average earnings growth.
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Primary Market
SI: Primarni trg, DE: Primärmarkt, FR: Marché Primaire, IT: Mercato Primario
The market on which new securities are launched and enter into circulation.
Pro-Cyclical
SI: Trgovanje s trendom, DE: Prozyklisch, FR: Procyclique, IT: Prociclico
Trading in accordance with a trend. As a share rises, procyclical investors follow the herd, buying the share to benefit from the trend momentum. Opposite: anticyclical.
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Productivity
SI: Produktivnost, DE: Produktivität, FR: Productivité, IT: Produttivita
A measure of the efficiency of production in a company or an economy.
Professional Traders
SI: Profesionalni trgovci, DE: Berufshandel, FR: Opérateurs Professionnels, IT: Operatori Professionali
Banks and brokers directly active in the securities markets.
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Profit Warning
SI: Opozorilo o nižjem dobičku, DE: Gewinnwarnung, FR: Avertissement Sur Bénéfices, IT: Allarme Sugli Utili
Announcement that a company's expected profits are likely to be less than forecast.
Profitability
SI: Dobičkonosnost, DE: Rentabilität, FR: Rentabilité, IT: Redditivita
Also: return on equity. The success of a company measured in relation to the capital employed.
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Profit-Taking
SI: Realizacija dobička, DE: Gewinnmitnahme, FR: Prise De Bénéfice, IT: Presa Di Beneficio
Realizing a stock market profit by either selling the securities at a price which is higher than the cost price or, in the case of a short sale, by repurchasing the securities at a price which is lower than the selling price.
Prospectus
SI: Prospekt, DE: Prospekt, FR: Prospectus, IT: Prospetto
A document issued by a company or public authority planning to float a bond or shares. As well as describing the modalities of the issue, the profit outlook and the securities to be issued, it also contains an invitation to subscribe.
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Public Offer
SI: Javna ponudba, DE: Öffentliches Kaufangebot, FR: Offre Publique D'Achat (Opa), IT: Offerta Pubblica Di Acquisto
Buyers acquiring more than one-third of the voting rights of a listed company via a takeover are required to offer to buy the shares of all other shareholders at the same price. Companies can make a provision in their articles of association opting out of this requirement or increasing the threshold to 49% (opting up).
Purchasing Managers Index
SI: Indeks nabavnih direktorjev, DE: Einkaufsmanagerindex, FR: Indice Des Directeurs D'Achat, IT: Indice Dei Direttori D'Acquisto
Survey of purchasing managers of various companies in different sectors conducted and published on a monthly basis. The Purchasing Managers Index is regarded as a leading indicator for economic trends. In the US the ISM index (or Purchasing Managers Index PMI) is produced and published by the Institute for Supply Management (ISM). In addition, since 1997 the ISM also publishes the Purchasing Managers Index service sector; in the Eurozone a Purchasing Managers Index is published by Reuter's.
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Purchasing Power
SI: Kupna moč, DE: Kaufkraft, FR: Pouvoir D'Achat, IT: Potere D'Acquisto
The number of units of one or several types of goods that can be exchanged for one unit of money. In simpler terms, purchasing power is the ratio between money and goods, or how much money will buy in a specific country.
Put Option
SI: Prodajna opcija, DE: Put, FR: Option De Vente, IT: Put
An option that confers on the buyer the right to sell the underlying. Opposite: call.
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Q - Stock Market Terms Starting With Letter Q
Quote
SI: Tečaj, DE: Notierung, FR: Cotation, IT: Quotazione
Also: quotation. The market price of an officially listed security. The price is determined during trading hours and is published in the official price list and in the daily papers and other media.
R - Stock Market Terms Starting With Letter R
Rally
SI: Rast, DE: Rally, FR: Rally, IT: Rally
Also: price rally. Fast, strong uptrend in prices in the financial markets.
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Rating
SI: Ocena, DE: Rating, FR: Notation, IT: Rating
Classification of the credit quality of an individual, firm, bank or state, or of securities issued by them. Awarded by banks or specialized rating agencies.
Rating Agency
SI: Bonitetna agencija, DE: Rating-Agentur, FR: Agence De Notation, IT: Agenzia Di Rating
A company that specializes in assigning ratings, e.g. Standard & Poor's, Moody's.
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Real Estate Fund
SI: Nepremičninski sklad, DE: Immobilienfonds, FR: Fonds Immobilier, IT: Fondo Immobiliare
Investment fund whose assets are placed in buildings and/or vacant land, the overriding principle being to spread risks geographically and to invest in a number of diverse properties.
Recession
SI: Recesija, DE: Rezession, FR: Récession, IT: Recessione
The stage in the economic cycle at which activity declines, characterized by a drop in real terms in the national product.
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Record Date
SI: Presečni dan, DE: Record Date, FR: Record Date, IT: Data di registrazione
It is the date used to determine the shareholders on the register who are entitled to receive the dividend and the number of shares on which it will be paid.
Redemption Price
SI: Odkupna cena, DE: Rücknahmepreis, FR: Prix De Rachat, IT: Prezzo Di Riscatto
The repurchase price at which an investment fund is obliged to buy back fund units.
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Reinvestment
SI: Reinvestiranje, DE: Thesaurierung, FR: Thésaurisation Des Revenus, IT: Capitalizzazione
Continuous reinvestment of income by an investment fund.
Relative Valuation
SI: Relativno vrednotenje, DE: Relative Valuation, FR: Relative évaluation, IT: Relativa valutazione
Means relative to the stock price or to the sector or to the stock market at this point in time. P/E and P/B ratios are examples of two commonly used relative valuation measures.
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Return
SI: Donos, DE: Rendite, FR: Rendement, IT: Rendimento
Annualized rate of return on an investment, expressed in percent. The return consists of coupon payments plus any capital gains/losses.
Return On Assets (ROA)
SI: Donos premoženja, DE: Return On Assets, FR: Rendement De L'Actif, IT: Return On Assets
Profitability ratio of the profit over a given period against the average assets of the company. Abbr. ROA.
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Return On Equity (ROE)
SI: Donos lastniškega kapitala, DE: Eigenkapitalrendite, FR: Rendement Des Capitaux Propres, IT: Redditivita Del Capitale Proprio
Ratio of net profit generated over a certain period to equity capital.
Right Of Redemption
SI: Pravica odpoklica, DE: Rückgaberecht, FR: Droit De Retour, IT: Diritto Di Restituzione
Units of investment funds may be sold back to the fund management company on a daily basis at their current redemption price. Exception: real estate funds.
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Risk Diversification
SI: Razpršitev tveganja, DE: Risikoverteilung, FR: Répartition Des Risques, IT: Ripartizione Dei Rischi
Also referred to as risk spread, risk spreading. Diversifying capital investments or loans granted to third parties so as to achieve the greatest possible protection against risks of losses or reductions in income. The aim is to ensure an optimally balanced risk exposure via the broad diversification of investments (or loans) in terms of the geographical mix, currencies, sectors and individual companies.
Risk Management
SI: Upravljanje tveganja, DE: Risiko-Management, FR: Gestion Des Risques, IT: Gestione Dei Rischi
Management tool designed to broadly and systematically identify, quantify and manage banking-related risk exposure.
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Risk Premium
SI: Premija za tveganje, DE: Risikoprämie, FR: Prime De Risque, IT: Premio Di Rischio
Premium demanded by investors for investing in risky capital investments. The higher the risk of loss or default, the higher the premium.
Risk Tolerance
SI: Naklonjenost tveganju, DE: Risikoneigung, FR: Propension Au Risque, IT: Propensione Al Rischio
Also: risk appetite, willingness to accept risk. A person's individual attitude towards risk. They may, for example, be willing to accept risks or they can be risk-averse.
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Risk-Free Return
SI: Netvegana donosnost, DE: Risikofreier Ertrag, FR: Revenu Sans Risques, IT: Rendimento A Rischio Zero
Return on an investment in first-class money market paper, which due to its short term to maturity is subject to virtually no price fluctuations and is therefore regarded as being risk-free, e.g. Treasury bills.
Risk-Return Profile
SI: Profil vlagatelja, DE: Ertrags-Risiko-Profil, FR: Profil Rentabilité-Risque, IT: Profilo Di Rischio-Rendimento
Also: risk-earnings profile, risk/reward ratio. Comparison of the anticipated risk of an investment with the expected return. If the return is the greater of the two then the investment is made.
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S - Stock Market Terms Starting With Letter S
Savings Bond
SI: Ameriška državna obveznica, DE: Savings Bond, FR: Savings Bond, IT: Savings Bond
Common bond issued by U.S. government which offer tax benefits but are not traded on secondary market.
Secondary Market
SI: Sekundarni trg, DE: Sekundärmarkt, FR: Marché Secondaire, IT: Mercato Secondario
A place on which securities take trading.
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Securities and Exchange Commission (SEC)
SI: SEC, DE: SEC, FR: SEC, IT: SEC
The official supervisory authority for stock exchanges in the United States.
Sharpe Ratio
SI: Sharpe kazalnik, DE: Sharpe-Ratio, FR: Ratio De Sharpe, IT: Indice Di Sharpe
Ratio that measures the risk-adjusted performance of a portfolio by dividing the excess return (over cash) by the standard deviation of the portfolio's return.
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Short Covering
SI: Zapiranje short pozicije, DE: Deckungskauf, FR: Achat De Couverture, IT: Acquisto Di Copertura
Purchase of securities or currencies in order to close a position created by short selling.
Short Position
SI: Short pozicija, DE: Short-Position, FR: Position Courte, IT: Short Position
In securities trading, a selling position which has not yet been closed by the purchase of a counterposition. Investors are said to be short if, following a short sale, they need to buy securities to meet their obligations. On assignment, the writer of an option contract undertakes to deliver (call) or buy (put) the underlyings. Opposite: long position.
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Short Selling
SI: Prodaja na kratko, DE: Leerverkauf, FR: Vente A Découvert, IT: Vendita Allo Scoperto
The action of contracting to sell for future delivery more of a commodity or security than is currently held in the hope that the price will fall and the short seller can buy the balance before the delivery date and so make a gain.
SICAV
SI: SICAV, DE: SICAV, FR: SICAV, IT: SICAV
Abbr. for Société d'investissement a capital variable. Investment fund in the form of a joint-stock company with variable capital. Units are issued in the form of shares.
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Sideways Movement
SI: Strankski trend, DE: Seitwärtsbewegung; Seitwärtstrend, FR: Pause, IT: Movimento Laterale
Also referred to as sideways development, sideways trend. Phase without any notable changes in the value of a security or market.
SLIP
SI: SLIP, DE: SLIP, FR: SLIP, IT: SLIP
Also trade confirmation. Contract note issued by a securities, money or currency dealer in respect of a concluded transaction.
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Small-Cap Stock
SI: Malo podjetje, DE: Small Cap, FR: Small Cap, IT: Small Cap
Share issued by companies with a relatively low stock market capitalization, a low public profile and thin trading volumes.
Soft Currency
SI: Mehka valuta, DE: Weiche Währung, FR: Monnaie Faible, IT: Moneta Debole
A soft currency is not always freely convertible into another currency, and for this reason investments in soft currencies are very risky. Soft-currency countries are often prone to high inflation, unbalanced state budgets or political instability. Opposite: hard currency.
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Solvency
SI: Solventnost, DE: Zahlungsfähigkeit; Solvenz, FR: Capacité De Paiement, IT: Solvibilita
Ability of borrowers to meet their payment obligations. Opposite: insolvency.
Speculation
SI: Špekulacija, DE: Spekulation, FR: Spéculation, IT: Speculazione
Activity focused on selecting stocks with higher risk in order to profit from an anticipated price movement. Stock traders are viewed by value investors as speculators.
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Split
SI: Razdelitev, DE: Split; Aktiensplit; Aktienaufteilung, FR: Division D'Actions, IT: Split Azionario
Also: share split, stock split. Division of a share into several shares with smaller par values (e.g. division of a USD 500 share into five USD 100 shares) without altering the sum of the total share capital. Opposite: reverse split.
Spot Market
SI: Promptni trg, DE: Kassamarkt, FR: Marché Au Comptant, IT: Mercato A Pronti
Synonym for cash market.
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Spot Price
SI: Promptni tečaj, DE: Spotpreis, FR: Prix Spot, IT: Spot Price
Also referred to as cash price. Current delivery price of a given commodity being traded on the cash market.
Spread
SI: Razlika med ponudbo in povpraševanjem, DE: Spread, FR: Écart, IT: Scarto
PREVERI
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Squeeze
SI: Iztisnitev, DE: Squeeze, FR: Squeeze, IT: Squeeze
Synonym for corner.
Stagflation
SI: Stagflacija, DE: Stagflation, FR: Stagflation, IT: Stagflazione
Term coined in the seventies to describe the combination of slow or non-existent economic growth (stagnation) with relatively strong price increases (inflation).
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Standard And Poors
SI: Standard And Poors, DE: Standard And Poors, FR: Standard And Poors, IT: Standard And Poors
A US credit rating agency. Website: www.standardandpoors.com.
Stock Dividend
SI: Dividenda, DE: Stock-Dividende; Wertpapierdividende, FR: Dividende Sous Forme D'Actions, IT: Dividendo In Azioni
Dividend distributed in the form of shares of the company in question. Stock dividends are rare in Switzerland due to the tax burden they entail, but are common in the USA.
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Stock Exchange
SI: Borza vrednostnih papirjev, DE: Effektenbörse, FR: Bourse Des Valeurs Mobilieres, IT: Borsa Valori
Exchange on which securities are regularly traded.
Stock Market Crash
SI: Zlom borze, DE: Börsenkrach, FR: Krach Boursier, IT: Crac In Borsa
Sudden drop in stock prices. A crash can occur when economic growth slows down abruptly or if the market is in technically poor condition due to excessive prices caused by speculation. Serious stock market crashes were seen on 13 May 1927, in Germany, and on 29 October 1929, and 19 October 1987, in New York, although the latter was less severe than its predecessors.
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Stock Market Order
SI: Borzno naročilo, DE: Börsenauftrag, FR: Ordre De Bourse, IT: Ordine Di Borsa
Order given to the bank or stockbroker by the customer to buy or sell securities on his behalf on the stock exchange.
Stock Split
SI: Razdelitev delnic, DE: Aktiensplit, FR: Division D'Actions, IT: Split Azionario
Synonym for split.
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Stockbroker
SI: Borzni posrednik, DE: Börsenmakler; Börsenagent, FR: Courtier, IT: Intermediario Di Borsa
An individual or firm which trades professionally on the stock exchange in its own name on behalf of clients.
Stop-Limit Order
SI: Stop-Limit naročilo, DE: Stop-Limit-Auftrag, FR: Ordre Stop Limit, IT: Ordine Stop Limit
A conditional order with a trigger limit and an execution limit to be executed immediately once a given price level is reached. Once the trigger limit is reached, a stop-limit order becomes a normal limit order. For purchases the trigger limit must be above the current price; for sales it must be below the current price.
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Stop-Loss Order
SI: Stop-Loss naročilo, DE: Stop-Loss-Auftrag, FR: Ordre Stop Loss, IT: Ordine Stop Loss
A conditional sell order to be executed immediately once a given price level is reached. If the trigger limit is reached, the order is converted into a market order and executed at the next best price.
Structured Product
SI: Strukturiran produkt, DE: Strukturiertes Produkt, FR: Produit Structuré, IT: Prodotto Strutturato
Combination of two or more financial instruments, at least one of which must be a derivative, to form a new investment product.
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Subscription Right
SI: Pravica vpisa, DE: Bezugsrecht, FR: Droit De Souscription, IT: Diritto Di Opzione
Privilege given to a shareholder to purchase additional shares.
Supervisory Authorities
SI: Nadzorni organ, DE: Aufsichtsbehörde, FR: Autorité De Surveillance, IT: Autorita Di Vigilanza
Legally appointed body whose remit is to supervise the activities of financial institutions.
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SWAP
SI: SWAP, DE: SWAP, FR: SWAP, IT: SWAP
In general: financial term for a combined or simultaneous buying and selling operation.
SWIFT
SI: SWIFT, DE: SWIFT, FR: SWIFT, IT: SWIFT
Abbreviation for Society for Worldwide Interbank Financial Telecommunication. Domiciled in Brussels, the company operates a computer-guided communications system to rationalize international payment transfers.
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T - Stock Market Terms Starting With Letter T
Takeover
SI: Prevzem, DE: Übernahme, FR: Reprise, IT: Acquisizione
Also referred to as acquisition. The transfer of control of a company from one group of shareholders to another. Takeovers are linked to a change in the top management of the target company, the latter being integrated in the acquiring company once the takeover is complete. A distinction is drawn between friendly takeovers and hostile takeovers.
Technical Analysis
SI: Tehnična analiza, DE: Technische Analyse, FR: Analyse Technique, IT: Analisi Tecnica
Also referred to as chart analysis. Analysis of historical price and volume data for a market as a basis for forecasting future price trends for a traded asset or commodity.
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Theta
SI: Theta, DE: Theta, FR: Theta, IT: Theta
Measure of the change in an option's price due to a decrease in the time left to maturity. The theta coefficient reflects how options lose their value over the course of time.
Ticker Symbol
SI: Trgovalni simbol, DE: Aktiensymbol, FR: Symbole De L'Action, IT: Simbolo Dell'Azione
Abbreviation of a share name for identification purposes.
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Time Value
SI: Časovna vrednost, DE: Zeitwert, FR: Valeur Temps, IT: Valore Temporale
With options, the difference between the price of an option and its intrinsic value.
Timing
SI: Pravočasnost, DE: Timing, FR: Timing, IT: Timing
Selecting the correct point in time to buy or sell securities.
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Top-Down Approach
SI: Pristop od zgoraj navzdol, DE: Top-Down Approach, FR: Top-Down Approach, IT: Top-Down Approach
An investment approach that involves looking at the 'big picture' in the economy and financial world and then breaking those components down in order to look at stocks of specific companies. These are further analyzed and those that are believed to be successful are chosen as investments.
TOPIX
SI: TOPIX, DE: TOPIX, FR: TOPIX, IT: TOPIX
Tokyo stock exchange stock price index.
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Total Return
SI: Celoten donos, DE: Total Return, FR: Total Return, IT: Total Return
The total return on a security or portfolio of securities. The total return on a share comprises the price changes, distributions of interest and dividends, and par value repayments.
Tracking Error
SI: Napaka sledenja, DE: Tracking-Error, FR: Écart De Suivi, IT: Tracking Error
Also: deviation of return. Parameter measuring the volatility of the relative performance which indicates the (e.g. monthly) fluctuation of the difference between the portfolio and the benchmark. Especially suitable for monitoring risks incurred as a result of investment decisions.
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Trade
SI: Posel, DE: Vertragsabschluss, FR: Contrat, IT: Contratto
Any stock market order concluded.
Trade Confirmation
SI: Potrdilo o izvršitvi, DE: Börsenabrechnung, FR: Décompte De Bourse, IT: Conteggio Di Borsa
Statement prepared by the bank for the client recording the sale or purchase of securities.
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Trading
SI: Trgovanje, DE: Handel, FR: Trading, IT: Trading
In contrast to investing: more speculative and focused on short-term outcomes of stock price movements.
Trading Range
SI: Trgovalni razpon, DE: Trading-Range, FR: Rectangle, IT: Trading Range
The bandwidth within which the price of a certain security is expected to trade over a given period.
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Treasury Note
SI: Ameriška zakladna menica, DE: Treasury-Note, FR: Treasury Note, IT: Treasury Note
Short- and medium-term debt certificates issued in bill or note form by a government; treasury bills (short-term, 3-12 months) and treasury notes (medium-term, 1-5 years).
Trend
SI: Trend, DE: Tendenz, FR: Tendance, IT: Tendenza
The general tendency of a market to move in a certain direction (e.g. price developments on a stock exchange or forex market).
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Triple Witching Hour
SI: Ura treh čarovnic, DE: Triple Witching Hour, FR: Heure des fantômes, IT: Triple Witching Hour
A U.S. term for the time when equity options, index options and index futures expire. It is the Friday at the close of every quarter.
Trust
SI: Sklad, DE: Trust, FR: Trust, IT: Trust
A sum of money or property held and administered by trustees on behalf of a third party. Under UK/US law, both the trustees and the beneficiaries are regarded as being the owners of the assets or property.
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Turnaround
SI: Obrat, DE: Turnaround, FR: Turnaround, IT: Turnaround
An upturn in the underlying trend for a sector or company, providing a good opportunity to buy into specific securities.
U - Stock Market Terms Starting With Letter U
Umbrella Fund
SI: Krovni sklad, DE: Umbrella-Fonds, FR: Fonds A Compartiments Multiples, IT: Fondo A Ombrello
Fund construction comprising several subfunds. Since the subfunds together form a single legal entity (umbrella), it is only necessary to submit the umbrella fund for authorization. Once the umbrella has been authorized, further subfunds may be created. Investors may switch from one subfund to another free of commissions.
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Underlying Asset
SI: Osnovni instrument, DE: Basiswert, FR: Valeur Sous-Jacente, IT: Sottostante
Also: underlying. Instrument on which an option or futures contract is based. The main underlying assets are currencies, bonds, equities and equity indices as well as precious metals.
Undervaluation
SI: Podcenjenost, DE: Unterbewertung, FR: Sous-Évaluation, IT: Sottovalutazione
A security is said to be undervalued if its valuation is excessively low. Opposite: overvaluation.
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Underweight
SI: Znižanje izpostavljenosti glede na primerjavo, DE: Underweight, FR: Sous-Pondération, IT: Sottopeso
Qualification of securities as part of an analyst's recommendations stating that the investor would be best advised to hold a lower weighting in this security than in others or in relation to a benchmark.
Upgrade
SI: Izboljšanje ocene, DE: Upgrade, FR: Upgrade, IT: Upgrade
Positive change in ratings for a security. An example is an analyst's upgrading of a stock such as from "sell" to "buy".
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V - Stock Market Terms Starting With Letter V
Valuation Analysis
SI: Analiza vrednotenja, DE: Bewertung, FR: Évaluation, IT: Valutazione
Estimate of the value and potential of a security based on the security and financial analysis.
Value Investing
SI: Value naložbena strategija, DE: Value-Style-Investing, FR: Value-Style Investing, IT: Value Investing
Investment approach that consists in buying shares when they are valued less than the long-term value of the company.
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Variable Interest Rate
SI: Spremenljiva obrestna mera, DE: Variabler Zinssatz, FR: Taux D'Intéret Variable, IT: Tasso D'Interesse Variabile
Interest rate which may be changed during the term of a loan or a bond issue. In the case of international loans and bonds, the periodic adjustment in line with the London Euromoney market rate is of particular significance.
Volatility
SI: Volatilnost, DE: Volatilität, FR: Volatilité, IT: Volatilita
Measure of the fluctuations in the price, or rate of return, of a security within a specific period. Usually expressed as an annualized standard deviation.
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W - Stock Market Terms Starting With Letter W
Wall Street
SI: Wall Street, DE: Wall Street, FR: Wall Street, IT: Wall Street
In stock market jargon, synonymous with the New York Stock Exchange and the financial centre of New York. Wall Street is the street that runs through New York's financial district.
Warren Buffett
SI: Warren Buffett, DE: Warren Buffett, FR: Warren Buffett, IT: Warren Buffett
Chairman of Berkshire Hathaway and considered to be the greatest (value) investor of all time. He is on and off the richest man in the world.
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World Bank
SI: Svetovna banka, DE: Weltbank, FR: Banque Mondiale, IT: Banca Mondiale
Name commonly used for the International Bank for Reconstruction and Development. Like the International Monetary Fund, it was established in 1944 at Bretton Woods (USA) and has its headquarters in Washington. Both institutions now have more than 180 member countries. Switzerland has been a member since May 1992. The World Bank's primary mission is to fight poverty. In particular, it grants long-term investment loans to developing countries and finances long-term projects aimed at improving the economic and ecological standard of living of the population. Website: www.worldbank.org.
Y - Stock Market Terms Starting With Letter Y
Yield
SI: Donos, DE: Rendite, FR: Rendement, IT: Rendimento
The total income produced by a capital investment expressed in percent. In the case of bonds, the yield to maturity or yield to the earliest possible redemption date is usually taken, the total return being calculated by dividing the annual interest payments and price changes to redemption by the number of years left to maturity.
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Yield Curve
SI: Krivulja donosnosti, DE: Renditekurve, FR: Courbe De Rendements, IT: Curva Di Rendimenti
A line chart that shows the individual yields at a certain point in time for fixed income securities with the same features but different maturities. Securities with longer maturities tend to have a higher yield. If short-term securities offer higher yields than long-term ones, then the yield curve is said to be inverted.
Yield To Maturity (YTM)
SI: Donos do dospetja, DE: Rendite auf Verfall, FR: Yield To Maturity, IT: Rendimento a scadenza
The rate of return anticipated on a bond if it is held until the maturity date. YTM is considered a long-term bond yield expressed as an annual rate. The calculation of YTM takes into account the current market price, par value, coupon interest rate and time to maturity. It is also assumed that all coupons are reinvested at the same rate. Sometimes this is simply referred to as "yield" for short.
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Z - Stock Market Terms Starting With Letter Z
Z Share
SI: Serija delnic za zaposlene, DE: Z Share, FR: Z Share, IT: Z Share
A class of mutual fund shares that employees of the fund's management company are allowed to own. Employees may have the option of buying Z shares or receiving them as a part of compensation or a reward package.
Zero Cupon Bond
SI: Brezkuponska obveznica, DE: Nullcoupon-Anleihe, FR: Obligation A Coupon Zéro, IT: Obbligazione Zero Coupon
Also: zero-coupon bond. Bond that makes no regular interest payment during its lifetime. Instead it is issued at a discount against full repayment at maturity. Zero bonds have been issued on the US capital market since 1981, but have also established a foothold in other major capital markets as an alternative to interest-bearing bonds.
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Written by: Goran Dolenc
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