the context of general equities. Active, usually with positive price implications.Hot moneyMoney that moves across country borders in response to interest rate differences and that moves away when the interest rate differential disappears.HouseFirms that conduct business as broker-dealers in securities or in the investment banking field are characterized as houses.House accountA type of account at a brokerage firm that is given a high level of priority and is handled by the main office or an executive, rather than a traditional salesperson.House Air Waybill (AWB)An air waybill issued by an air freight consolidator.House callNotification by a brokerage house that a customer's margin account is below the minimum maintenance level. The client must provide more cash or equity, or the account will be liquidated.House of issueAn investment banking firm whose business it is to underwritestock or bondissues and offer the securities to the public.House maintenance requirementThe internal rules of a brokerage house that govern the minimum amount of equity that must be present in a customer's margin account.House poorPeople who are short on cash because most of their money is tied up in their homes are "house poor."House rulesInternal rules of broker-dealerfirm that govern the handling of its customers' accounts.Housing bondBondsissued by a local housing authority to finance housing projects."How are you making XXX?""What is your market in a particular stock?" See: Quotation.HubrisAn arrogance due to excessive pride and an insolence toward others. A classic character flaw of a trader or investor.Hulbert ratingA rating by Hulbert Financial Digest, a service of CBS MarketWatch, of how well the recommendations of various investmentadvisory newsletters have performed.Human capitalThe unique capabilities and expertise of individuals.Humphrey-Hawkins ActInformal name for the Full Employment and Balanced Growth Act of 1978, from the names of the act's original sponsors.Hung upUsed to describe the position of an investor whose stocks or bonds have dropped in value below their original purchase price.Hunkering downA term used to describe a trader selling off a big position in a stock.Hurdle rateThe required return in capital budgeting. For example, if a project has an expected rate of return higher than the hurdle rate, the project may be accepted.HybridA package of two or more different kinds of riskmanagementinstruments that are usually interactive.Hybrid annuityA type of insurance company investment that combines the benefits of both a fixed annuity and a variable annuity.Hybrid securityA convertible security whose optioned common stock is trading in a middle range, causing the convertible security to trade with the characteristics of both a fixed income security and a common stock instrument.HyperinflationSee: InflationHypothecationIn banking, refers to the commitment of property to secure a loan.In securities, refers to the commitment of securities to serve as collateral for marginloans at the broker-dealer firm.HysteresisUsed to characterize a lagging effect. Firms may fail to enter markets that appear attractive, or firms that are once invested in a market may persist in operating at a loss. The effect is characteristic of investments with high entry and exit costs along with high uncertainty.