Business / Finance Glossary

Half-Life: The margin or difference between the actual market value of a security and the value assessed by the lending side of a transaction).

Half-Stock: The point in the life of a mortgage-backed security guaranteed or issued by the Government National Mortgage Association, the Federal National Mortgage Association or the Federal Home Loan M . . . View Full Definition

Hammering The Market: Stock, common or preferred, with a $50 par value.

Handle: Heavy selling of stocks by speculators who think that the stock is overvalued and is about to drop.

Hands-Off Investor: The whole-dollar price of a bid or offer is referred to as the handle (e.g., if a security is quoted at 101.10 bid and 101.11 offered, 101 is the handle). Traders are assumed to know the han . . . View Full Definition

Hands-On Investor: An investor who has a large stake in a company, but does not wish to play an active role in the management of the corporation.

Hang Seng Index: An investor who has a large stake in a corporation and takes an active role in its management. Antithesis of hands-off investor.

Hard Capital Rationing: The major index in Hong Kong.

Hard Currency: A capital budget that under no circumstances can be violated.

Hard Dollars: A freely convertible currency that is not expected to depreciate in value in the foreseeable future.

Harmless Warrant: Actual separate payments made by a customer for services, including research, provided by a brokerage firm. Antithesis of soft dollars.

Hart-Scott-Rodino Act: Warrant that allows the user to purchase a bond only by surrendering an other bond with similar terms.

Harvey, Campbell R.: Often used in risk arbitrage. Antitrust act administered by U.S. Department of Justice and the FTC that requires an investor to file a form with the government before he acquires an economic . . . View Full Definition

Head and Shoulders: Finance professor at Duke University. Author of research on international finance, asset allocation, and emerging markets.

Heavy: In technical analysis, a pattern that results where a stock price reaches a peak and declines; rises above its former peak and again declines; and rises a third time but not to the second pe . . . View Full Definition

Hedge: An equities market now dominated by sellers, or oversupply, resulting in falling prices. See: Overbought, resistance level, tired.

Hedge Clause: A transaction that reduces the risk of an investment.

Hedge Fund: A clause in a research report or any published document, that attempts to absolve the writer of responsibility for the accuracy of information provided.

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