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TradeAlmanac

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Glossary — TradeAlmanac

Investor's glossary: financial terms in plain English

Stock market terms with the formula, the calculation method and a list of pitfalls. Every multiple is explained once and surfaces as a tooltip.

All 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

Voting rights of preferred sharesA preferred share normally does not vote, but gains a vote on matters affecting its rights and after its dividend has gone unpaid.
Voting shareA share carrying the right to vote on an item of business as of the date the list of participants is drawn.
Voting through a brokerThe route by which a holder passes his instruction to his depository, which relays it along the custody chain to the registrar.
WACCThe weighted average cost of a company's capital.

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Wall Street Crash of 1929The collapse of the US equity market in October 1929, which opened a decade of depression.

WatchlistThe set of instruments you follow regularly.

Withdrawal strategyThe rule by which money is regularly taken out of a portfolio to live on: a fixed sum adjusted for inflation, a fixed share of assets, or a combination with a floor.

Withdrawn dividend recommendationThe board revoking a recommendation it had already made, before the meeting approved it.

Withholding agentA party obliged to calculate and withhold tax on the taxpayer's behalf.

Withholding taxTax deducted at the point of payment, before the income reaches the recipient.

Working capitalThe difference between current assets and current liabilities.

Yield curveA plot of government bond yields against time to maturity.

Yield curve slopeThe difference in yields between the long and the short section of the curve.

Yield to maturityThe yield on a bond assuming it is held to maturity and its coupons are reinvested.

Yield to putYield calculated as if the bond will be bought back on the put date rather than held to maturity.

Yuan-denominated bondAn issue by a Russian borrower denominated in yuan: coupon and principal are counted in the currency, while settlement stays inside the domestic infrastructure.

Z-spreadThe constant add-on to the risk-free curve at which a bond's computed price matches its market price.

Zero-coupon bondA bond without a coupon: the investor's income is the gap between the purchase price and par.

Zero-coupon yield curveThe set of rates for investments without interim payments across maturities, built from government issues.