thegoodfellas/blogset-br huggingface dataset:
resale to investors, as opposed to purchasing bond, to hold for some amount of time, and then reselling it at a future date. Going-concern value The value of a company to another company or individual in terms of an operating business. The difference between a company's going-concern value and its asset or liquidation value is deemed goodwill and plays a major role in mergers and acquisitions. Going long The investor's purchase of a security for investment or speculation that the price will rise resulting in a profit once the security is sold. See:: long position. Antithesis of going short. Going out Used in the context of general equities. Soliciting/advertising over the SS1, NASDSAQ, or Autex. Going private When publicly owned stock in a firm is replaced with complete equity ownership by a private group. The firm is delisted on stock exchanges and can no longer be purchased in the open markets. Going public When a private company first offersshares to the publicmarket and investors. See: IPO. Going short Selling stock that an investor does not own by borrowingshares from a broker. The assumption is that the price will fall. The investor then buys (covers the short) the shares at a lower price than what they were sold for, recognizing the difference as a profit. Antithesis of going long. Going into the trade Used in the context of general equities. 1) Condition of the tradersposition in the security and expectations of stock placement with accounts just prior to taking an order to the exchange floor for execution; 2) On the way in. Antithesis of come out of the trade. Gold bars Bars with a minimum content of 99.5% gold, which may be held by central banks or traded by investors. Gold bond Bondsissued by gold-mining companies and backed by gold. The bonds make interest payments based on the level of gold prices. Gold bullion Investment-grade, pure gold, which may be smelted into gold coins or gold bars. Gold Carry Trade A carry trade where you borrow and pay interest in order to buy something else that has higher interest. The gold carry trade works as follows. A central bank loans a bank (sometimes called a bullion bank) some gold. The gold lease rate is usually very low. The bullion bank immediately sells the gold and invests in securities with a higher rate of return, such as government long-term bonds. The carry return is the return on the bonds minus the gold lease rate. However, this trade is risky on two dimensions. First, if the bullion bank invested in long-term bonds and the interest rate goes up, the trade could be unprofitable. More seriously, the bullion bank has effectively sold the gold short. If the loan is called by the Central bank and if gold has risen in value, the bullion bank will have to go into the market and purchase higher priced gold. Indeed, if many banks are short, the unwinding of the gold carry trade could drive the gold price even higher. Related: Carry Trade. Gold certificate Certificate of an investor, that
shows proof of ownership of gold bullion. Gold coins Coin minted in gold, such as the American Eagle or the Canadian Maple Leaf. Gold exchange standard A fixed exchange rate system adopted in the Bretton Woods agreement. It required the U.S. to peg the dollar to gold and other countries to peg their currencies to the dollar. Gold fixing The process of determining the price of gold based on supply and demand forces of the market; which occurs twice daily in London. Gold mutual fund A mutual fund that primarily invests in gold-mining companies'stock. Gold standard An international monetary system in which currencies are defined in terms of their gold content, and payment imbalances between countries are settled in gold. It was in effect from about 1870 to 1914. Goldbug Analysts who recommends gold as an investment/hedge. Golden handcuffs A contract that binds a broker to a brokerage firm by offering the brokercommissions and bonuses, but penalizes the broker if he or she goes to work for another firm. Golden handshake A large payment to a senior employee who is forced into retirement or fired as a result of a takeover or simular development. Golden hello A bonus a securitiesfirm pays to attract an employee from a competing firm. Golden parachute Compensation paid to top-level management by a targetfirm if a takeover occurs. Goldilocks economy A term developed in the mid 1990s to describe the positive performance of the economy as "not too hot, not too cold; just right." Good delivery A delivery in which everything - order-endorsement, any necessary attached legal papers. Good delivery and settlement procedures Refers to PSA Uniform Practices such as cutoff times on delivery of securities and notification, allocation, and proper endorsement. Good faith deposit Used in the context of commodities. Refers to the initial margin account deposit needed when buying or selling a futurescontract; approximately 2%-10% of the contract value. Used in the context of securities to describe the deposit required by securitiesfirms engaged in transactions on behalf of a new client. Also used to refer to the deposit with a municipal bondissuer by firms competing for the underwriting business. Good money Federal funds that clear on the same day, unlike clearinghouse funds, which require three days to clear. Good-this-Month order (GTM) An order to buy or sell securities that continues to be a valid order until the end of the current month. Good through/until date order Used in the context of general equities. Market or limited price order that remains viable for a stated period of time unless cancelled, executed, or changed, after which such order or the portion thereof not executed is to be treated as cancelled. Good 'til cancelled order (GTC) An order to buy or sell stock that is good until you execute or cancel it. Brokerages usually set a limit of 30-60 days, at which the G.T.C. order expires if not restated. (Different from a day order.) Goodwill Excess of purchase price over fair market value of net assets acquired under the purchase method of accounting. Government bond See: Government securities
United States, but which were acquired or engaged in before a particular date. Such activities may be continued under the "grandfather" clauses of the Bank Holding Company Act and the International Banking Act. Grandfather clause A provision included in a new rule or regulation that exempts a business that is already conducting business in the area addressed by the regulation from penalty or restriction. Grant The issuance of an award under a stock plan, such as a stock option or shares of restricted stock. Grant Date The date on which an option or other award is granted. Grantor A trader in the optionsmarket who makes premium income by selling options. Grantor Retained Income Trust (GRIT) A tax-saving trust in which a grantor transfers property to a beneficiary, but receives income until termination, at which time the beneficiary begins receiving the income. Grantor trust A mechanism of issuingMBS wherein the mortgages' collateral is deposited with a trustee under a custodial or trust agreement. Graveyard market Bear market in which investors who sell are faced with substantial losses, while potential investors prefer to stay liquid; that is, to keep their money in cash or cash equivalents until market conditions improve. Gray knight In a merger or acquisitions, a gray knight is an acquiringcompany that outbids a white knight in pursuit of its own best interests, although it is friendlier than a hostile bidder. Gray list Formal roster of stocks that can be traded by the block desks, but not in risk arbitrage because an investment bank is involved with the company on nonpublic activity (e.g., mergers and acquisitions defense). A stock's presence on this list should never be conveyed to anyone outside the trading area, much less outside the firm. See: Restricted list. Gray market Describes the sale of securities that have not officially been issued to firms other than the underwriting syndicate. This type of market serves as a good indicator of demand for a new issue in the publicmarket. Great call Used in the context of general equities. Potential customer who may have an interest in participating in a particular trade if customer's past inquiry or activity is any indication. Greater fool theory An investment notion that even when a stock is fully valued by conventional standards, there is room for upward movement because there are enough buyers to push prices farther upward purely on speculation or hype. Greenmail The holding of a large block of stock of a target company by an unfriendly company, with the object of forcing the target company to repurchase the stock at a substantial premium to prevent a takeover. Greenshoe option Option that allows the underwriter for a new issue to buy and resell additional shares. Gross per broker The dollar amount of commissions generated by a broker or registered representative over a specific period. Gross domestic product (GDP) The market value of final goods and services produced over time including the income of foreign corporations and foreign residents working in the U.S., but excluding the income of U.S. residents and corporations overseas. Gross earnings A
Often management will give guidance or hints of the earnings per share prospects over the next quarter or next year to try to direct the consensus to what is achievable. For example, it is possible that the consensus is well above management's internal forecasts. Management will try to guide the consensus downwards so that when the earnings are released the negative surprise is minimized. Under Regulation FD, management needs to be very careful to provide guidance information to all shareholders -- not just a select group of analysts. This is often achieved in investor presentations (that are often webcast) or conference calls (where anyone is allowed to dial in). Gun jumping In the context of securitiestrading, refers to trading in a security on the basis of information that has not been made available to the public. The illegal solicitation of buy orders in an underwriting before completion and finalization of Securities and Exchange Commissionregistration. Gunslinger An aggressive portfolio manager who makes riskyinvestments, typically in margin accounts, in search of high returns. Gypsy Swaps In the context of Regulation D. A private purchaser wishes to invest directly in an issuer but hopes to acquire unrestricted securities. Through arrangements and understandings with the issuer, a stockholder with shares that are either restricted securities currently eligible for sale under Rule 144 or unrestricted securities sells the shares to the private purchaser. At about the same time, the issuer sells an equivalent number of shares to the stockholder. The Securities & Exchange Commission's view is that the shares taken by the private purchaser from the stockholder will be restricted securities within the meaning of Rule 144(a)(3). The holding period will date to the private acquisition. A public resale of the shares acquired from the stockholder without regard to the conditions of Rule 144 would raise serious issues under Section 5 of the Securities Act for all parties to the transactions.
is measured as the percent change in quantity divided by the percent change in price. A large value (greater than 1) of elasticity indicates sensitivity of demand to price, e.g., luxury goods, where a rise in price causes a decrease in demand. Goods with a small value of elasticity (less than 1) have a demand that is insensitive to price, e.g., food, where a rise in price has little or no effect on the quantity demanded by buyers. Elasticity of supply The degree of producers' responsiveness to price changes. Elasticity is measured as the percent change in quantity divided by the percent change in price. A large value (greater than 1) of elasticity indicates sensitivity of supply to price, e.g., luxury goods, where a rise in price causes an increase in supply. Goods with a small value of elasticity (less than 1) have a supply that is insensitive to price, e.g., food, where a rise in price has little or no effect on the amount that producers supply. Elasticity of an option Percentage change in the value of an option given a 1% change in the value of the option's underlyingstock. Related: delta. Elect The conversion of a conditional order into a market order. Election Period The period of time during which the holder can elect to extend and extendible bond, or to retract a retractable bond. Electronic data interchange (EDI) The direct exchange of information electronically, from one firm's computer to another firm's computer in a structured format. Electronic depository transfers The transfer of funds between bank accounts through the Automated Clearing House (ACH) system. Electronic funds transfer (EFT) Transfer of funds electronically rather than by check or cash. The Federal Reserve's Fedwire and automated clearninghouse services are EFT systems. Electronic Funds Transfer Systems A variety of systems and technologies for transferring funds (money) electronically rather than by check. Includes Fedwire, automated clearringhouses (ACHs) and other automated systems. Electronic Queriable Carrier A transporter of goods which allows tracking of goods in transit electronically using a waybill number such as United Parcel, Federal Express, etc. Elephants A term used to refer to large institutional investors. Eleven bond index An index based on the averageyield of 11 municipal bonds that mature in 20 years and carry an average AA rating. The eleven bonds used to calculate the index are also found in the 20 bond index, which serves as a benchmark in tracking municipal bondyields. Eligible bankers' acceptances In the BA market, an acceptance may be referred to as eligible because it is acceptable by the Fed as collateral at the discount window and/or because the accepting bank can sell it without incurring a reserve requirement. Elliott Wave Theory Technical market timingstrategy that predicts price movements on the basis of historical price wave patterns and their underlying psychological motives. Robert Prechter is a famous Elliott Wave theorist. Elves A term the host uses to refer to guests on the PBS television show, "Wall Street Week", who are technical analysts attempting to predict the direction of stock prices over the next six months. Embedded
1999. These vehicles are popular for hedging as well as investment. Ex-dividend This literally means "without dividend." The buyer of shares when they are quoted ex-dividend is not entitled to receive a declared dividend. It is the interval between the record date and the payment date during which the stock trades without its dividend-the buyer of a stock selling ex-dividend does not receive the recently declared dividend. Antithesis of cum dividend (with dividend). Ex-dividend date The first day of trading when the buyer of a stock is no longer entitled to the most recently announced dividend payment ( i.e. the trade will settle the day after the record date, too late for the buyer to appear on the shareholder record and receive the dividend.) The date set by the NYSE (and generally followed on other U.S. exchanges) is currently two business days before the record date. A stock that has gone ex-dividend is denoted by an x in newspaper listings on that date. Executor An individual or trust institution nominated in a will and appointed by a court to settle the estate of a deceased person. Ex-legal A municipal bond offered without a law firm'slegal opinion. A majority of bonds are issued with legal opinions. Expatriate An employee who is a U.S. citizen living and working in a foreign country. Ex-pit transaction The closing out of a futures position off the exchange floor. Effected when two hedgers, one long and one short, make a private deal in the cash market, and no longer need their (equal and opposite) futures contracts to hedge. The hedgers contact the exchange and request the contracts be nullified without making a trade on the floor. This must be done (1) to ensure neither contract results in delivery/the requirement to deliver; (2) to properly reflect open interest; and (3) to eliminate the uncertainty of the fill price should a trade actually be done to offset the positions. Extremely rare. Also known as an EFP transaction, an exchange-for-physicals transaction or an against-actuals transaction. Ex post return Related: Holding-period return Ex-rights Shares of stock that are trading without rights attached. Ex-rights date The date on which a share of common stock with rights on it begins tradingex-rights. Expropriation The taking over of a company or project by the state, implying compensation will be paid. Nationalization. Ex-warrants Describes a stock sale during the time in which the buyer of the stock is not entitled to the warrant accompanying the stock. Exact interest Interest paid based on the basis of a 365-day/year schedule by a bank or other financial_institution as opposed to a 360-day basis (ordinary interest). Difference can be material when large principal sums of money are involved. Exact matching A bondportfolio managementstrategy that involves finding the lowest cost portfolio generating cash inflows exactly equal to cash outflows that are being financed by investment. Except for opinion An auditor's opinion reflecting the fact that the auditor is unable to audit certain areas of the company's operations because of restrictions imposed by management or other conditions beyond the auditor's control. Expected rate
income allowed by the IRS. Exercise To implement the right of the holder of an option to buy (in the case of a call) or sell (in the case of a put) the underlying security. Exercise limit Cap on the number of option contracts of any one class of contract that can be exercised within a five-day period contract. There are no restrictions on exercise for the last 10 trading days before expiry. A stock option'sexercise limit varies with the volume of the underlying stock. Exercise notice A broker's notification from a client who wants to exercise a right to buy or sell (depending on the type of contract) the underlying security of the optioncontract. Exercise price The price at which the security underlying an options contract may be bought or sold. Exercise settlement amount The difference between the exercise price of the option and the exercise settlement value of the index on the day an exercise notice is tendered, multiplied by the index multiplier. Exercise value The value of an in-the-money option if it was exercised today (before the expiration date). For a call option, this is the difference between the current asset price and the stike price. For a put option, it is the difference between the strike price and the current asset price. Exercising the option The act of buying or selling the underlying asset via the option contract. Exhaust price The low price at which a broker must liquidate a client's holding in a stock purchased in a margin account in order to meet a margin call when the client cannot meet the call. Exim bank See: Export-Import Bank Exit fee See: Back-end load Exogenous Describes facts outside the control of the firm. Converse of endogenous. Exogenous variable A variable whose value is determined outside the model in which it is used. Related: Endogenous variable Exotic option Refers to options that are more complex than simple put or call options. For example, a Caput is a call option on a put option. Exotic options trade over-the-counter. Expansion Phase of the business cycle as it climbs from a trough toward a peak. Expectations hypothesis theories Theories of the term structure of interest rates, which include the pure expectations theory; the liquidity theory of the term structure, and the preferred habitat theory. These theories hold that each forward rate equals the expected future interest rate for the relevant period. These three theories differ, however, on whether other factors also affect forward rates, and how. Expectations theory of forward exchange rates A theory of foreign exchange rates that states that the expected future spot foreign exchange ratet periods from now equals the current t-period forward exchange rate. Expected dividend yield Total amount of dividends received during the life of a futures contract or total dividends received for holding a particular stock one year. See: Current yield. Expected future cash flows Projected future cash flows associated with an asset. Expected future return The return that is expected to be earned on an asset in the future. Also called the expected return. Expected
the second currency exposure. Expost average rate of return The historical mean percentage an asset has yielded. Expropriation The official seizure by a government of private property. Any government has the right to seize such property, according to international law, if prompt and adequate compensation is given. Expunge Used in the context of general equities. Remove any trace of an Autoindication's existence at any time. See: Cancel. Extendable bond Bond whose maturity can be extended at the option of the holder (investor). Extendable notes Note with maturity that can be extended by mutual agreement between the issuer and investors. Extension Voluntary arrangements to restructure a firm'sdebt, under which the payment date is postponed. Extension date The day on which the first option either expires or is extended. Extension swap Extending maturity through a swap, e.g. selling a 2-year note and buying one with a slightly longer current maturity. External efficiency Related: Pricing efficiency External finance Funding that is not generated by a firm's operations: new borrowing or a stockissue. External funds Funds originating from a source outside the corporation to increase cash flow and to aid in expansion efforts, e.g., bank loan or bondoffering. External market Also referred to as the international market, the offshore market, or, more popularly, the Euromarket. A mechanism for tradingsecurities that at issuance (1) are offered simultaneously to investors in a number of countries and (2) are issued outside the jurisdiction of any single country. Related: Internal market. Extinguish Retire or pay off debt. Extra Dividend A temporary increase in a firm's dividends beyond the normal level. Extraordinary call Early redemption of a revenue bond because the revenue source paying the interest on the bond has been eliminated or has disappeared. Extraordinary item An unusual and unexpected one-time event that must be explained to shareholders in an annual or quarterly report, e.g., write down for a discontinued operation, employee fraud, a lawsuit, or other one-time events. Results are often presented with and without these items. The logic of excluding these items is that investors have a better notion of future performance if one-time events are excluded. Differs from an unusual item in that extraordinary items are (1) material; (2) non-recurring; and (3) outside the ordinary nature of the business. Extra or special dividends A one-time or special dividend that is paid in addition to a firm's established or expected quarterlydividend. Extraordinary positive value A positive net present value. Extrapolative statistical models Models that apply a formula to historical data and project results for a future period. Such models include the simple linear trend model, the simple exponential model, and the simple autoregressive model.