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 Stock Market Terms - GBEnglish stock market term is written in blue and bold text.
  • In the second row you can find Stock Market Terms - SISlovene (SI), Stock Market Terms - DEGerman (DE), Stock Market Terms - FRFrench (FR) and Stock Market Terms - ITItalian (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 skupšina, 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

Biotech ETF

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: Toka 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

BRIC ETF

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 predasnega 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 doloanja cen dolgoronih 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 dobiek-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: Zakljuni teaj, 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 nain izraunavanja, 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 povpreenja, 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: Kontraciklino, 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 teaj, 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: Tekoi 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: Steaj, 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: Domaa 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: Dobiek 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: Konkurenna 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 uinkovitega 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 teaj, 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: Preseni 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: Naroilo z razponom in odstranitvijo neizvršene koliine, 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: Finanna 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: Toka 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: Naroilo 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 rastoa 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

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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 raunovodski 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 nart, 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.