thegoodfellas/blogset-br huggingface dataset:
face value of the bondsunderlyingcall option, which is exercised by CUBS (an acronym for Calls Underwritten by Swanbrook). If the calls are exercised by CUBS, BEARS holders receive the total of the exercise price. Bon voyage bonus See: Greenmail. Boning Charging a lot more for an asset than its worth. Book A banker or trader'spositions. Book cash A firm'scash balance as reported in its financial statements. Also called ledger cash. Book to market The ratio of book value to market value of equity. A high ratio is often interpreted as a value stock (the market is valuing equity relatively cheaply compared to book value). This is the same as a low price-to-book value ratio. Value managers often form portfolios of securities with high book to market values. Book profit The cumulative book income plus any gain or loss on disposition of assets. Book runner The managing underwriter for a new issue. The book runner maintains the book of securities sold. Book to bill The book-to-bill ratio is the ratio of orders taken (booked) to products shipped and bills sent (billed). The ratio measures whether the company has more orders than it can deliver (>1), equal amounts (=1), or less (<1). This ratio is of significant interest to investors/traders in the high-technology sector. Book value A company's total assetsminusintangible assets and liabilities, such as debt. A company'sbook value might be higher or lower than its market value. Book value per share The ratio of stockholder equity to the average number of common shares. Book value per share should not be thought of as an indicator of economic worth, since it reflects accounting valuation (and not necessarily market valuation). Book-Entry Registered ownership of stock without the issuance of a correspondingstock certificate, as is the case with dividend reinvestment and direct purchase plans, employee plans and Direct Registration System issuances. Periodic statements of ownership are issued instead of certificates. Book-entry securities Securities which are not represented by paper certificates but are maintained in computerized records at the Fed in the names of member banks, which in turn keep computer records of the securities they own as well as those they are holding for customers. In the case of other securities where a book-entry has developed, certificates reside in a central clearinghouse or are held by another agent. These securities do not move from holder to holder. Bootstrap Term used to describe the start-up of a company with very little capital. Bootstrapping Creating a theoretical spot rate curve using one yield projection as the basis for the yield of the next maturity. Bootstrapping follows the work of Efron. It involves a Monte Carlo approach. Borrow To obtain or receive money on loan with the promise or understanding that it will be repaid. Borrowed reserves Funds borrowed from a Federal Reserve Bank by member banks to maintain the required reserve ratios. Borrower fallout In the mortgage pipeline, the risk that prospective borrowers of loans committed to be closed will elect to withdraw from the contract. Bot Shorthand for bought. Antithesis of SL, meaning sold. Bottom Refers to
the basesupport level for market prices of any type. Also used in the context of securities to refer to the lowest market price of a security during a specific time-frame. Bottom fisher An investor seeking stocks that have fallen to prices at or near their bottom, which he or she believes will trend up in the future. Bottomline growth Growth in net profit. Also see topline growth. Bottom-up equity management style A management style that de-emphasizes the significance of economic and marketcycles, focusing instead on the analysis of individual stocks. Bought deal Securityissue in which one or two underwritersbuy the entire issue. Also known as a guaranteed or fixed-price sale; opposite of a best-efforts sale. Bounce A check returned by a bank because it is not payable, usually because of insufficient funds. Also used in the context of securities to refer to the rejection and ensuing reclamation of a security; a stock price's abrupt decline and recovery. Bourse French for a stock market. Boutique A small, specialized brokerage firm that offers limited services and products to a limited number of clients. Antithesis of financial supermarket. Box The actual physical location at a brokerage house or bank where securities or other documents are stored for safekeeping. Alternatively, a quotation machine or battery march. Also known as 'the cage.' Box spread This strategy refers to a type of optionarbitrage in which both a bull spread and a bear spread are implemented for an almost-risklessposition. One spread is implemented using put options and the other is implemented with calls. The spreads may both be debit spreads (call bull spread vs. put bear spread) or both credit spreads (call bear spread vs. put bull spread). Bracket A term signifying the extent of an underwriter's commitment in a new issue, e.g., major bracket or minor bracket. Bracket creep The gradual movement into higher tax brackets when incomes increase as a result of inflation. Brady bonds Bondsissued by emerging countries under a debt reduction plan. Branch An operation in a foreign country incorporated in the home country. Breadth The percentage of assets or stocks advancing relative to those unchanged or declining. Also the number of independent forecasts available per year. A stock picker forecasting returns to 100 stocks every quarter exhibits a breadth of 400, assuming each forecast is independent (based on separate information). Breadth of the market In the context of general equities, percentage of stocks participating in a particular market move. Technical analysts say there was significant breadth if two-thirds of the stocks listed on an exchange move in the same direction during a trading session. See: A/D line. Break A rapid and sharp price decline. Related: Crash. Break even The reduction of a project's netcash flow to zero by altering an input variable such as price or costs. Break price Used in the context of general equities. Change one's offering or bid prices to move to a more realistic, tight level where execution is more feasible. Often done to trim one's position, thus "breaking price" from where the trades occurred (if long, "break price" downward
years, or any time in the future. The basic forms of budget authority are; appropriations, authority to borrow, contract authority, and authority to obligate and expend offsettingreceipts and collections. The period of time during which Congress makes funds available may be specified as one-year, multiple years or no year. The available amount may be classified as either definite or indefinite; a specific amount or an unspecified amount can be made available. Authority may also be classified as current or permanent. Permanent authority requires no current action by Congress. Budget deficit The amount by which government spending exceeds government revenues. Buck Slang for one million dollars. Bucket shop An illegal brokerage firm that accepts customer orders but does not attain immediate executions. A bucket shop broker promises the customer a certain price, but waits until a price discrepancy is present and the trade is advantageous to the firm and then keeps the difference as profit. Alternatively, the broker may never fill the customer's order but keep the money. Budapest Stock Exchange Established in 1864, the major securities market of Hungary. Budget surplus The amount by which government revenues exceed government spending. Buenos Aires Stock Exchange (Bolsa de Comercio de Buenos Aires) Argentina's major securitiesmarket. Build a book In the context of general equities, develop customer orders to gather demand/supply in order to make a bid or an offer. Also refers to a commissioned salesperson amassing a 'book' of regular clients. Build Own Transfer The transfer of a project back to the party granting the concession, either with or at no cost. Builder buydown loan A mortgageloan on newly developed property that the builder subsidizes during the early years of the development. The builder uses cash to buydown the mortgage rate to a lower level than the prevailing marketloan rate for some period of time. The typical buydown is 3% of the interest rate amount for the first year, 2% for the second year, and 1% for the third year (also referred to as a 3-2-1 buydown). Builders' All Risk A standard construction insurance package. Bulge A short-lived stock price increase. Synonymous with bubble. Bulge bracket A tier of firms in an underwriting syndicate that have the highest participation level. See: Mezzanine bracket. Bull An investor who thinks the market will rise. Related: Bear. Bull-bear bond Bond whose principal repayment is linked to the price of another security. The bonds are issued in two tranches: In the first tranche repayment increases with the price of the other security, and in the second tranche repayment decreases with the price of the other security. Bull CD A bullCD pays its holder a specified percentage of the increase in return on a specified marketindex while guaranteeing a minimum rate of return. Bull market Any market in which prices are in an upward trend. Bull spread A spread strategy used in options and futures trading that is designed to capitalize on expected price appreciation. A bull spread using call options is created by buying a call option on an asset with a certain strike price and selling a
Business failure A business that has terminated operations with a loss to creditors. Business risk The risk that the cash flow of an issuer will be impaired because of adverse economic conditions, making it difficult for the issuer to meet its operating expenses. Business segment reporting Reporting the results of the separate divisions or subsidiaries of a business. Busted convertible Related: Fixed income equivalent. Mainly applies to convertible securities. Convertible bond selling essentially as a straightbond. Assuming the issuer is "money good," or will continue to meet credit obligations, such issues can be highly attractive since the price makes virtually no allowance for the bond's call on the common stock, when most such issues usually carry premiums. Bust-up takeover A leveraged buyout in which the buyer sells off the assets of the target company to repay the debt that financed the takeover. Butterfly In the context of equities, a firm with two divisions may split into two companies and issue original shareholders two shares (one in each of the new companies) for every old share they have. Butterfly shift A nonparallel shift in the yield curve involving the height of the curve. Butterfly spread Applies to derivative products. Complex optionstrategy that involves buying a call option with a relatively low strike price; buying a call option with a relatively high strike price; and selling two call options with an intermediate strike price. Essentially, this is a bear call spread stacked on top of a bull call spread. One can also do this with puts. The investor buys a put with a low strike, buys a put at high strike and sells two puts at intermediate strike price. The payoff diagram resembles the shape of a butterfly. Buy To purchase an asset; taking a long position. Buy-and-hold strategy A passive investment strategy with no activebuying and selling of stocks from the time the portfolio is created until the end of the investment horizon. Opposite of active strategy. Buy-and-write strategy An optionsstrategy that calls for the purchase of stocks and the writing of covered call options on them. Buy the book An order typically from a large institutional investor to a broker to purchase all the shares available at the market from the specialist and other brokers and dealers at the current offer price. The book refers to the record a specialist kept before the advent of computers. Buydown A lump sum payment made to the creditor by the borrower or by a third party to reduce the amount of some or all of the consumer's periodic payments to repay the indebtedness. Buy hedge See: Long hedge Buy in To cover, offset, or close out a short position. Related: Evening up, liquidation. Buy limit order A conditional tradingorder that indicates a security may be purchased only at the designated price or lower. Related: Sell limit order. Buy minus order In the context of general equities, rare market or limit order to buy a stated amount of a stock, provided that the price to be obtained is not higher than the last sale if the
last sale is a minus or zero-minus tick, and is not higher than the last sale minus the minimum fractional change in the stock if the last sale is a plus or zero-plus tick. (If limit, then the buy cannot occur above the limit, regardless of tick.) Buy on the bad news Buyingstock shortly after a price drop resulting from bad news from the company. Investors believe that the price has hit bottom and will trend upward. See: Bottom fisher. Buy on close Buying at the end of the trading session at a price within the closing range. Buy on margin Borrowing to buy additional shares, using the shares themselves as collateral. Buy on opening Buying at the beginning of a trading session at a price within the opening range. Buy order An order to a broker to purchase a specific quantity of a security. Buy-side analyst A financial analyst employed by a nonbrokerage firm, typically one of the larger money managementfirms that purchasessecurities on its own account. Buy stop order A buy order not to be executed until the market price rises to the stop price. Once the security has broken through that price, the order is then treated as a market order. Also known as a suspended market order. Often used to protect against loss on a short sale. "Buy them back" Used for listed equity securities. "Cover my short position. Buy write See also Covered Call. Buyback The covering of a short position by purchasing a longcontract, usually resulting from the short sale of a commodity. See: Short covering, stock buyback. Also used in the context of bonds. The purchase of corporate bonds by the issuing company at a discount in the open market. Also used in the context of corporate finance. When a firm elects to repurchase some of the sharestrading in the market. Buydown Mortgages in which monthly payments consist of principal and interest. During the early part of the loan, portions of these payments are provided by a third party to reduce the borrower's monthly payments. In the context of project financing, refers to a one-time payment out of liquidated damages to reflect cash flowlosses from sustained underperformance. Buyer credit A financing provided to a buyer to pay for the supply of goods or services usually by an exporting country or by the supplier company. Buyer's market Market in which the supply exceeds the demand, creating lower prices. Antithesis of seller's market. Buyers/sellers on balance Used for listed equity securities. Indicates that at a given time (usually before the opening of a stock market or at expiration time), there are more buyers than sellers in the marketplace, usually with market orders. See: Imbalance of orders. Buying climax A rapid rise in the price of a stock resulting from heavy buying, which usually creates the market condition for a rapid fall in the price. Buying the index Purchasing the stocks in the S&P 500 in the same proportion as the index to achieve the same return. Buying power The amount of money available to buysecurities, determined by
adding the totalcash held in brokerage accounts and the amount that could be spent if securities were margined to the limit. Buyout Purchase of a controllinginterest (or percent of shares) of a company'sstock. A leveraged buy out is effected with borrowedmoney. Bylaws Rules and practices that govern management of an organization. Bylaw Amendment Limitations These provisions limit shareholders' ability to amend the governing documents of the corporation. This might take the form of a supermajority vote requirement for charter or bylaw amendments, total elimination of the ability of shareholders to amend the bylaws, or the ability of directors beyond the provisions of state law to amend the bylaws without shareholder approval. Bypass trust An irrevocable trust that is designed to pay trust income (and principal, if needed) to an individual's spouse for the duration of the spouse's lifetime. The bypass trust is not part of the beneficiary spouse's estate and is not subject to federal estate taxes upon his/her death.
DFifth letter of a NASDAQ stock symbol specifying that it is a new issue, such as the result of a reverse split. D/A See: Documents Against Acceptance DCF See: Discounted Cash Flows DSCR See: Debt-service coverage ratio DDM The ISO 4217 currency code for former East Germany Ostmark. DDM See: Discounted Dividend Model DE The two-character ISO 3166 country code for GERMANY. DEM The ISO 4217 currency code for Deutschemark. DEQ Abbreviation for the Incoterm "Delivered Ex Quay." DES Abbreviation for "Delivered Ex Ship." DISC See: Domestic International Sales Corporation DITM See: Deep in the money DJ The two-character ISO 3166 country code for DJIBOUTI. DJF The ISO 4217 currency code for Djibouti Franc. DK The two-character ISO 3166 country code for DENMARK. DKK The ISO 4217 currency code for Danish Krone. DM The two-character ISO 3166 country code for DOMINICA. DNR Order See: Do Not Reduce Order DO The two-character ISO 3166 country code for DOMINICAN REPUBLIC. DOP The ISO 4217 currency code for Dominican Republic Peso. DOT See: Designated Order Turnaround System DOTM See: Deep out of the money D/P Abbreviation for Documents Against Payment. DRP See: Dividend Reinvestment Plan DTC See: Depository Transfer Check DTC See: Depository Trust Company DTCC See: Depository Trust and Clearing Corporation DZ The two-character ISO 3166 country code for ALGERIA. DZD The ISO 4217 currency code for Algerian Dinar. Daily price limit The level within many commodity, futures, and options markets are allowed to rise or fall in a day. Exchanges usually impose a daily price limit on each contract. Daisy chain Manipulation of the market by traders to create the illusion of activevolume to attract investors. Date of issue Used in the context of bonds to refer to the date on which a bond is issued and when interest beings to accrue to the bondholder. Used in the context of stocks to refer to the date trading begins on a new stockissued to the public. Date of payment Date dividendchecks are mailed. Date of record Date on which holders of record in a firm's stock ledger are designated as the recipients of either dividends or stock rights. Dated date The date one uses to calculate accrued interest on various debt instruments, specifically bonds. Dates convention Treating cash flows as being received on exact dates-date 0, date 1, and so forth-as opposed to the end-of-year convention. Dating Credit extension beyond normal terms of a credit supplier. Dawn raid A term of British origin used to describe the purchase of all available shares of a target company at the market'sopen by a raider. A dawn raid is a surprise technique that allows the raider to gain a substantial share of the target company before the target company knows what is happening. Day around order A day order that supersedes (cancels and replaces) the previous order by altering its size or price limit. Day of deposit to day of withdrawal account A bank account that pays interest according to the number of days that the money is actually on deposit. Day loan A loan from a
bank to a broker prior to the delivery of securities. Upon the delivery of the securities, a day loan becomes a regular brokercall loan for which securities serve as collateral. Day order In the context of general equities, request from a customer to either buy or sell stock, that, if not canceled or executed the day it is placed, expires automatically. All orders are day orders unless otherwise specified. Traders often make calls before the opening to check for renewals. Day trade Also known as a "daylight trade." The purchase and sale or the short sale and cover of the same security in a margin account on the same day. Day trading Establishing and liquidating the same position or positions within one day's trading. Days in receivables Average collection period. Days' sales in inventory ratio The average number of days' worth of sales that is held in inventory. Days' sales outstanding Average collection period. De facto Existing in actual fact although not by official recognition. Dead cat bounce A small upmove in a bearmarket. Deal flow In investment banking, the rate at which new deals are referred to a brokerage firm. Deal stock Stock subject to merger or acquisition, either publicly announced or rumored. Dealing desk (Trading desk) Personnel at an international bank who trade spot and forward foreign exchange. Dealer An entity that stands ready and willing to buy a security for its own account (at its bidprice) or sell from its own account (at its ask price). Individual or firm acting as a principal in a securitiestransaction. Principals are market makers in securities, and thus trade for their own account and risk. Antithesis of broker. See: Agency. Dealer loan Overnight, collateralizedloan from a money market bank made to a dealer financing his position by borrowing. Dealer market Where traders specializing in particular commoditiesbuy and sell assets for their own accounts. Dealer options Over-the-counteroptions, such as those offered by government and mortgage-backed securitiesdealers. Dealer's spread See: markdown; underwriting spread. Dear money British term for tight money. Death-backed bonds Bonds backed by loans of a policyholder against a life insurance policy. The policyholder will repay the loans while alive or with the benefits from the insurance policy upon death. Death play A stock strategy that buysstock on the belief that a key executive will die, the company will be dissolved, and shares will command a higher price at their private market value. Death Spiral Convertible Used by companies that are in such bad shape, that there is no other way to get financing. This instrument is similar to a convertible bond, but convertible at a discount to the share price at issuance and for a fixed dollar amount rather than a specific number of shares. The further the stock falls, the more shares you get. Popular in the mid to late 1990s. Also known as toxic convertibles or floorless convertibles. Death Valley Curve In venture capital, refers to the period before a new company starts generating revenues, when it is difficult for the company to raise money. Debenture Any debtobligation backed strictly