Year to Date (YTD)

Gilts where the dividends and principal repayments are related to movements in the Retail Prices Index (RPI). This is as opposed to a conventional gilt, where the dividends and principal repayments are fixed in nominal terms.

The currency exchange rate a bank quotes, valid with immediate effect.

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

Listing a company on a stock exchange, or the shares that are genuinely up for grabs once it’s there.

We look at what is a depository and what role they play in keeping markets work.

A return calculated over the time period invested, that excludes extraneous elements, such as deposits to and withdrawals from the investment accounted.

A statement that summarises firm's expenses, costs, and revenues incurred during a time period. AKA income statement.

The value of a company's assets relative to the number of shares it has.

The art of buying shares which trade below their value, according to the analysis of the value investor.