Conventional gilt

Gilts where the dividends and principal repayments are fixed in nominal terms. This is as opposed to an index-linked gilt where the dividends and principal repayments are related to movements in the Retail Prices Index (RPI).

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Year to Date (YTD)

A period of time that starts with the first day of the current calendar year and ends with today.
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Prospectus

The official document a company publishes before selling shares to the public. Long, detailed, and worth a read.
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Ponzi Scheme

A form of fraud designed to lure new investors, and pays the earlier backers by using the new investors' money.
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Time Value of Money

The concept that money you have now is more valuable than the same sum in the future.
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Net asset value

Mutual funds and investment trusts are priced on their net asset value (NAV).
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Zero-Sum Game

A situation in which one person's gain is another's loss.
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Gross Margin

The difference between a company's revenue and the cost to produce its goods/services, divided by revenue.
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Stock Exchange

A physical/digital place where stockbrokers and traders can buy and sell securities.
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Formal admission

The moment new shares are officially admitted to the stock exchange and open to trading for everyone.
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