Any firm whose business generates significant positive cash flows or earnings, which increase at significantly faster rates than the overall economy. A growth company tends to have very profitable reinvestment opportunities for its own retained earnings. Thus, it typically pays little to no dividends to stockholders, opting instead to plow most or all of its profits back into its expanding business. Taobiz explains Growth Company Growth companies are most often seen in the technology industries. The quintessential example of a growth company is Google, which has grown revenues, cash flows and earnings by leaps and bounds since its initial public offering. Growth companies such as Google are expected to increase profits markedly in the future, and thus the market bids up their share prices to high valuations. This contrasts with mature companies, such as diversified utility companies, which see very stable earnings with little to no growth.
An equity investment strategy that seeks to combine tenets of both growth investing and value investing to find individual stocks. GARP investors look for companies that are showing consistent earnings growth above broad market levels (a tenet of growth investing ) while excluding companies that have very high valuations (value investing). The overarching goal is to avoid the extremes of either growth or value investing; this typically leads GARP investors to growth-oriented stocks with relatively low price/earnings (P/E) multiples in normal market conditions. Taobiz explains Growth At A Reasonable Price - GARP GARP investing was popularized by legendary Fidelity manager Peter Lynch. While the style may not have rigid boundaries for including or excluding stocks, a fundamental metric that serves as a solid benchmark is the price/earnings growth (PEG) ratio. The PEG shows the ratio between a company's P/E ratio (valuation) and its expected earnings growth rate over the next several years. A GARP investor would seek out stocks that have a PEG of 1 or less, which shows that P/E ratios are in line with expected earnings growth. This helps to uncover stocks that are trading at reasonable prices. In a bear market or other downturn in stocks, one could expect the returns of GARP investors to be higher than those of pure growth investors, but subpar to strict value investors who generally purchase shares at P/Es under broad market multiples.
The difference between the underwriting price received by the issuing company and the actual price offered to the public. Taobiz explains Gross Spread By charging the public a higher price for an IPO than the price paid to the issuing company, the underwriters are able to make a profit. For example a company might get $15 per share for their IPO, but the underwriters sell the stock to the public at $17--profiting $2 per share.
1. For individuals, the total income earned in a year, as calculated prior to any tax deductions or adjustments. 2. For public companies, gross earnings is an accounting convention, referring to the amount of initial profit left over from total revenues for a specified time period, once cost of goods sold have been deducted. Taobiz explains Gross Earnings 1. For example, consider John who earned a total of $50,000 for the recently completed fiscal year, and made $5,000 of contributions to a government-sponsored savings plan. Because his contributions reduce his taxable earnings, John is allowed to base his tax calculations off taxable earnings of $45,000, while his actual gross earnings for the year are $50,000. 2. A company's gross earnings are reported periodically on its income statement. The first line of the income statement reports a company's total sales for a given time period. When cost of goods sold (COGS) is subtracted from this number, the remaining difference is referred to as the company's gross earnings.
Similar in concept to gross income, gross dividends are the sum total of all dividends received. Gross dividends include all ordinary dividends that are paid, plus capital-gains distributions and nontaxable distributions received by the taxpayer during the year. Watch: Dividend Taobiz explains Gross Dividends Most gross dividends are reported on Form 1099-DIV. Ordinary dividends are reported in box 1a, while the other forms of dividend income are listed elsewhere. However, not all dividend income reported on the 1099-DIV is reported on Schedule B.
An exchange of restricted shares for freely exchangeable shares between two separate parties. Taobiz explains Gypsy Swap This generally occurs when companies exchange restricted treasury shares with stockholders in order to liquidate a position.
A high-strung portfolio manager who, looking for high returns, invests in very high-risk stock. Taobiz explains Gunslinger Stay away from these guys, or they could end up shooting you in the foot!
1. The illegal practice of soliciting orders to buy a new issue before registration of the initial public offering (IPO) has been approved by the Securities and Exchange Commission (SEC). 2. Trading securities on the basis of information that has not yet been disclosed to the public. Taobiz explains Gun Jumping The theory behind gun jumping is that investors should make decisions based on the full disclosure in the prospectus, not on the information disseminated by the company that has not been approved by the SEC. If a company is found guilty of "jumping the gun", the IPO will be delayed.
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