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Investment and Trading Glossary

A B C D E F G H I J K L M N O P  Q  R S T U V W X Y Z

 

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LAGGING INDICATOR

A measurable economic factor that changes after the economy has started to follow a particular pattern or trend. Lagging indicators are believed to confirm long-term trends.

LEADING INDICATOR

A measurable economic factor that changes before the economy starts to follow a particular pattern or trend. Leading indicators are believed to predict changes in the economy.

LENDING AT A PREMIUM

Charging a short seller for the loan of the securities borrowed. The charge is started in terms of dollars per 100 shares per business day.

LIABILITY

A legal obligation to pay a debt owner. Current liabilities are debts payable within twelve months. Long-term liability are debts payable over a period of more than twelve months.

LIBOR

London Interbank Offered Rate.

LIMITED POWER OF ATTORNEY

A written authorization for someone other than the beneficial owner of an account to make certain investment decisions regarding transactions in the account.

LIMITED TRADING AUTHORIZATION

An authorization usually provided by a limited power of attorney, for someone other than the customer to have trading privileges in an account. These privileges are limited to purchases and sales; withdrawal of assets is not authorized.

LIMITED ORDER

An order that instructs the floor broker to buy a specified security below a certain price or to sell a specified security above a certain price.

LIQUIDITY

The ease withwhich an asset can be converted to cash in the marketplace. A large number of buyers and sellers and a high volume of trading activity provide high liquidity.

LONG

The term used to describe the owning of a security contractor commodity. For example, an owner of common stock is said to have a long position in the stock.

LOW

The lowest price a security or commodity reaches during a specified time period

See also high.