A slang phrase referring to a situation in which an underwriter has successfully sold to investors all of its available issues of a public offering of securities. Also known in more formal terms as "fully subscribed". Taobiz explains Pot Is Clean Typically, the goal of a public offering is to price the security issue at the exact price at which all the issued shares can be sold to investors, so there will be neither a shortage nor a surplus of securities. When the pot is clean, the underwriter has no more of the issue to sell to interested investors. If there is still interest in the issue and nothing left for an underwriter to offer, it is probable that the issue was underpriced and oversubscribed.
A price designation referring to the trading of a security at a price higher than the previous sale price for the same security. Also known as an "uptick". Taobiz explains Plus Tick There are several rules regarding the tick status of a security which affect the type of trade orders that are permissible for that security at a specific moment in time. For example, short sale orders can only be executed on a plus tick or a zero plus tick (a transaction at the same price as the preceding trade, but at a higher price than the last different trade).
A slang term that describes the positive aspects of an investment decision. A play in investing is the reason why an investor made his or her decision. "Playing the stock market" is a phrase used by beginner investors signifying that they have gained access, simulated or real, to the ups and downs of the stock market. Taobiz explains Play Investing in a stock is in no way a guarantee; there will be information supporting and going against any decision. The word "play" describes the reasons that support the choice. Much like a football play, a decision is made using the given information at the time. Finding out if it was the right play will be determined at a later time. "Play" is used both conversationally and in investing articles, and usually describes an investment decision. For example, take a look at the statements below, which reflect those typically made by investors. Q: "Why did you buy that stock?" A1: "It was a book value play, because the stock was trading well below its book value." A2: "It was a longterm real estate play, because I believe the property value will increase over the next 10 years." A3: "It was an infrastructure play on developing nations, because the company builds roads in developing countries."
A sales book created by an investment bank/firm that details the main attributes of the firm. The pitchbook is used by the firm's sales force to aid it with selling products and issues, and generating new clients. Taobiz explains Pitchbook There are two main types of pitchbooks. There is the main pitchbook, which contains all of the main attributes of the firm - such as the number of analysts it has, its prior IPO success and the number of deals it completes per year - which the sales team should focus on when selling the benefits of the firm to potential clients. The second type of pitchbook contains details about a specific deal, such as a company's IPO. This form of pitchbook focuses on all of the benefits of the issue, helping brokers and investment bankers demonstrate how the firm can service the specific needs of their potential clients.
The percentage composition of a particular holding in a portfolio. Portfolio weights can be simply calculated using different approaches: the most basic type of weight is determined by dividing the dollar value of a security by the total dollar value of the portfolio. Another approach would be to divide the number of units of a given security by the total number of shares held in the portfolio. Taobiz explains Portfolio Weight Portfolio weights are not necessarily applied only to specific securities; investors can calculate the weight of their portfolios in terms of sector, geographical region, index exposure, short & long positions, type of security (such as bonds or small cap technology companies) or any other type of benchmark. Essentially, portfolio weights are determined based on the particular investment strategy.
An investment strategy applied to a personal or corporate portfolio that determines its general purpose and constraints. once a portfolio plan has been determined, investments adhering to the plan are bought and sold accordingly. Taobiz explains Portfolio Plan Individual investors have ranging risk tolerances, liquidity needs and investment time horizons. A proper portfolio plan must take these factors into consideration along with any other unique requirements.
A strategy used by corporations to discourage hostile takeovers. With a poison pill, the target company attempts to make its stock less attractive to the acquirer. There are two types of poison pills: 1. A "flip-in" allows existing shareholders (except the acquirer) to buy more shares at a discount. 2. A "flip-over" allows stockholders to buy the acquirer's shares at a discounted price after the merger. Taobiz explains Poison Pill 1. By purchasing more shares cheaply (flip-in), investors get instant profits and, more importantly, they dilute the shares held by the acquirer. This makes the takeover attempt more difficult and more expensive. 2. An example of a flip-over is when shareholders gain the right to purchase the stock of the acquirer on a two-for-one basis in any subsequent merger.
A coverage ratio that measures a company's ability to pay off its required preferred dividend payments. A healthy company will have a high coverage ratio, indicating that it has little difficulty in paying off its preferred dividend requirements. Formula: Taobiz explains Preferred Dividend Coverage Ratio Not only does this ratio give investors an idea of a company's ability to pay off its preferred dividend requirements, but it also gives common shareholders an idea of how likely they are to be paid dividends. If the company has a hard time covering its preferred dividend requirements, common shareholders are less likely to receive a dividend payment on their holdings.
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