A description of stock where the underlying company has a small market capitalization, and whose stock price is currently trading at or lower than its book value. Finding a stock that fits both of these criteria is difficult, but it could be a worthwhile venture, because small-value stocks generally yield high returns. The name can be somewhat misleading as these stocks are not of lesser value; "small" in this case simply refers to the size of the company. Taobiz explains Small-Value Stock According to Fama and French's three factor model, small-value stocks possess the two best qualities: size and value. According to the model, small cap stocks tend to outperform large cap stocks, because small stocks in general have a greater opportunity to grow compared to their larger counterparts. In addition, value stocks generally have more upside potential compared to their growth stock counterparts, because growth stocks tend to already possess high valuations fueled by positive expectations for future growth. Therefore, it is difficult for such a stock to grow at this point in time compared to an undervalued counterpart.
A general term describing a stock with high risk relative to any potential positive returns. Speculative stocks are often purchased by those who believe the stock will appreciate in value without performing a detailed analysis. Taobiz explains Speculative Stock Speculative stocks often have a high probability of declining in value and a low probability of experiencing above-average gains. Investors in these types of stock may be overly optimistic about the probability of earning above average gains, or the lure of the above average gains may be enticing enough for them to make a purchase. Penny stocks are an example of a speculative stock.
A market composite made up of all the A-shares and B-shares that trade on the Shanghai Stock Exchange. The index is calculated by using a base period of 100; the first day of reporting was July 15, 1991. The composite figure can be calculated by using the formula: Taobiz explains SSE Composite The SSE Composite is a good way to get a broad overview of the performance of companies listed on the Shanghai exchange. More selective indexes, such as the SSE 50 Index and SSE 180 Index, show market leaders by market capitalization. Over time, it is likely that the SSE Composite will closely resemble the overall economy of China; there are still many large, state-run companies that have yet to go public in sectors such as banking, energy and healthcare.
1. The difference between the bid and the ask price of a security or asset. 2. An options position established by purchasing one option and selling another option of the same class but of a different series. Taobiz explains Spread 1. The spread for an asset is influenced by a number of factors: a) Supply or "float" (the total number of shares outstanding that are available to trade) b) Demand or interest in a stock c) Total trading activity of the stock 2. For a stock option, the spread would be the difference between the strike price and the market value.
An indicator based on the nationality of the model on the cover of the Sports Illustrated swimsuit edition. The Sports Illustrated Swimsuit Issue Indicator attempts to provide insight into stock market returns for that year. The indicator suggests that when the cover model is from the U.S., the S&P 500 will generate a return above its historical rate, while a non-American cover model leads to underperformance by the S&P 500 for the year. Taobiz explains Sports Illustrated Swimsuit Issue Indicator Between 1978 and 2008, the average return of the S&P 500 was 10.5%; when the cover model was American, the average annual return of the S&P 500 was 13.9%. When the cover model was non-American, the average annual return for the S&P 500 was 7.2%. For example, the S&P 500 was up 34.1% in 1997 when Tyra Banks graced the Sports Illustrated cover. The indicator was first coined by the Bespoke Investment Group.
A slang term for an S&P 500 contract that trades on the Chicago Mercantile Exchange (CME). The S&P 500 contracts trade on the CME independent of the S&P 500 index itself, and expire quarterly in the months of March, June, September and December. The word originated in the XMI pit on the America Stock Exchange (AMEX) in New York. It comes from the symbol for the September contract: "SPU". Even though the name is based on the September contract symbol, the term is used to describe contracts of all expiries. When somebody speaks of the spoo, they are referring to the current, most active month trading. Taobiz explains Spoo Trading a spoo is a bet on where the S&P 500 index will be at some point in the future, so these securities almost always trade at a premium to the fair value of the index. This is because of the assumption that the value of equities will rise as time progresses.
1. In the context of stocks, an influential investor who creates demand for a security because of their positive outlook on it. 2. In the context of mutual funds, an underwriting company that offers shares in its mutual funds. 3. In the context of exchange-traded funds (ETFs), the fund manager or other entity who files the needed regulatory materials with the SEC to create an ETF. The sponsor also solicits and approves an authorized participant to create and redeem ETF shares. Taobiz explains Sponsor 1. Many investors look for wide sponsorship in a stock before investing, believing that the endorsement of well-known investors add a measure of safety to their investment decisions. 2. An underwriter must sponsor a mutual fund issue for investors to have access to it. 3. The sponsor of an ETF is essentially the managerial body of the ETF and brings together the needed parties and regulatory framework to establish the ETF.
An American depositary receipt (ADR) that is issued in co-operation with the underlying foreign company whose equity shares will underly the ADR shares. With the corporation's sponsorship, the ADRs created in the issue usually afford their owners the same rights normally given to stockholders, such as voting rights. Taobiz explains Sponsored ADR For an ADR issue to become listed and trade on a major U.S. exchange, it must be sponsored by the underlying corporation. If not, the ADR issue is likely to be traded over the counter.
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