10-K Report

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10-Q report

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A quaterly equivalent of the 10-K report.

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12b-1 fee

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A fee authorized by federal legislation permitting a mutual fund's management to use some of the fund's assets to pay for advertising and for the cost of distributing materials to the accountholders.

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Academic Search Premier

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Database index of articles of interest to investors that have appeared in both academic and trade journals.

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accrued interest

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Interest that has been earned on a security but has not yet been paid by the security issuer. Generally, one day's interest accrues for each day a debt security exists; between interest payment dates, the buyer of a bond must pay accrued interest to the seller of the bond.

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active management

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A policy in which the composition of the portfolio is dynamic; the portfolio manager frequently changes portfolio components.

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active strategy

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Any strategy using active management; one in which the investment manager seeks to improve the rate of return of the portfolio by anticipating events in the marketplace.

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adjustable rate mortgage

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A loan with real estate as collateral in which the interest rate periodically changes as some benchmark interest changes.

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advance/decline line

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A graphical representation of the net advances over a period of time; advances count as pluses, declines are minuses, and unchanged securities count as zeros.

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alpha

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The market model intersept that theoretically should equal zero. A positive alpha indicates performance better than expected for the given level of risk, and vice versa.

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American Depository Receipt (ADR)

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A marketable document (a receipt) certifying that a financial institution holds shares of stock to back the receipt.

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American option

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An option that can be exercised anytime prior to expiration.

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anchoring

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The tendency to incorporate often immaterial information in the decision-making process.

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annual report

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A report required of every publicly traded company, containing a statement from corporate management about results from the previous year and about prospects for the future. It also includes financial statements and information about most of the firm's principal activities.

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annuity

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The payment of a fixed amount on a regular periodic schedule for a finie length of time.

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anomaly

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An observed result that defies explanation within the known theoretical framework.