0-9: Glossary Terms

0-9

52-week highStocksCrypto

The highest traded price over approximately the preceding 52 weeks.

52-week lowStocksCrypto

The lowest traded price over approximately the preceding 52 weeks.

51% attack(majority attack) Crypto

An attack in which one entity or coordinated group controls enough consensus power to reorganize recent blocks, censor transactions, or double-spend under the network's consensus rules.

10-KStocks

An annual report that U.S. public companies must file with the SEC, covering audited financial statements, business description, risk factors, and management discussion.

10-QStocks

A quarterly report that U.S. public companies must file with the SEC, covering unaudited financial statements and material developments since the last annual report.

8-K(Form 8-K) Stocks

A current report filed with the SEC to disclose specified material corporate events between periodic reports.

24/7 MarketCrypto

A market operating continuously through weekends and holidays, as many crypto spot venues do, though individual platforms can still experience maintenance or outages.

25-Delta Skew(25d skew) Crypto

The implied-volatility difference between comparable 25-delta puts and calls, commonly used to gauge relative demand for downside versus upside protection.

0DTE Option(zero days to expiration, 0DTE) StocksOptions

An option traded on its expiration day with zero days remaining until expiration, making its value highly sensitive to intraday price movement and time decay.

20 EMA(20 EMA) StocksCrypto

A 20-period exponential moving average commonly used as a short-term trend and dynamic support/resistance reference.

20-Day Moving Average(20 DMA) StocksCrypto

A moving average covering approximately one trading month, often used as a short- to intermediate-term trend reference.

200-Day Moving Average(200 DMA) StocksCrypto

The moving average of roughly 200 daily closing prices, widely used as a long-term trend reference.

50-Day Moving Average(50 DMA) StocksCrypto

The moving average of roughly 50 daily closing prices, widely used as an intermediate trend reference.

9 EMA(9 EMA) StocksCrypto

A nine-period exponential moving average commonly used by short-term traders as a fast trend or pullback reference.

401(k)(401k) Stocks

An employer-sponsored retirement savings plan that lets employees contribute a portion of their paycheck to tax-advantaged investment accounts, often with an employer matching contribution up to a set percentage. Traditional 401(k) contributions reduce taxable income up front and are taxed on withdrawal, while a Roth 401(k) option (where offered) taxes contributions up front for tax-free qualified withdrawals. Employer matching funds are commonly subject to a vesting schedule before the employee fully owns them. Full guide →

529 planStocks

A tax-advantaged investment account designed to pay for education expenses, sponsored by states or educational institutions. Contributions grow tax-deferred, and withdrawals used for qualified education expenses are federal-tax-free; many states also offer a state income tax deduction or credit for contributions. Funds not used for qualified expenses can trigger income tax and a penalty on the earnings portion, though several exceptions and rollover options exist. Full guide →

1031 Exchange(like-kind exchange, Section 1031 exchange) Stocks

A 1031 exchange, named for Section 1031 of the U.S. Internal Revenue Code, allows an investor to defer capital gains tax on the sale of investment or business real estate by reinvesting the proceeds into a 'like-kind' replacement property within strict IRS timelines. To qualify, the investor generally must identify a replacement property within 45 days of selling the original and complete the purchase within 180 days, typically using a qualified intermediary to hold the sale proceeds. The strategy defers rather than eliminates the tax liability, which can still come due if the replacement property is later sold without another exchange.

2s10s spread(2-10 spread, 2s10s) StocksCryptoOptionsFutures

The difference between the 10-year and 2-year U.S. Treasury yields (10-year yield minus 2-year yield), the most widely watched U.S. yield-curve slope; a negative reading (inversion) has preceded every U.S. recession since 1980, typically by 12-24 months. Full guide →

5-year, 5-year forward inflation rate(5y5y forward) StocksCryptoOptionsFutures

A measure of the bond market's expected average inflation rate over the five-year period that begins five years from today, derived from Treasury and TIPS yields; because it looks past the current business cycle, the Fed treats it as a cleaner read on whether long-run inflation expectations remain anchored near 2%. Full guide →

12b-1 Fee(distribution fee) Stocks

An annual marketing and distribution fee, capped by FINRA rules and named for the SEC rule that permits it, charged by some mutual funds and deducted from fund assets to pay for advertising, broker commissions, and shareholder servicing.

30-Day SEC Yield(SEC yield) Stocks

A standardized yield calculation the SEC requires bond and income funds to disclose, based on the fund's net investment income over the trailing 30 days annualized, allowing apples-to-apples yield comparisons across funds.

403(b)(tax-sheltered annuity plan) Stocks

An employer-sponsored retirement savings plan similar to a 401(k) but offered by public schools, nonprofit organizations, and certain ministers, funded through employee salary deferrals and often an employer match. Investment options are historically weighted toward annuity contracts and mutual funds rather than individual stocks, and eligible long-tenured employees may qualify for an additional catch-up contribution beyond the standard age-based catch-up.

457(b)Stocks

A tax-advantaged deferred-compensation retirement plan offered by state and local government employers and certain nonprofit organizations. Unlike a 401(k) or 403(b), a governmental 457(b) permits penalty-free withdrawals at any age after separation from service (regular income tax still applies), while non-governmental 457(b) plans for nonprofit employees carry more restrictive rules and less creditor protection.

83(b) Election(Section 83(b) Election) Stocks

A written election, filed with the IRS within 30 days of receiving unvested restricted property such as founder or early-employee stock, to include the property's value in taxable income at grant rather than as it vests, starting the capital-gains holding period immediately and locking in tax on the (often much lower) grant-date value. Full guide →

401(k) loanStocks

A loan a participant borrows from their own vested 401(k) balance, repaid to the account with interest, typically through payroll deduction over up to five years, longer if used to buy a primary residence. IRS rules cap the amount at the lesser of $50,000 or 50% of the vested balance, and an unpaid balance at job separation or default is treated as a taxable distribution and, if the participant is under age 59½, may also incur the early-withdrawal penalty.

529 college savings plan(529 plan) Stocks

A state-sponsored, tax-advantaged investment account used to save for qualified education expenses, in which contributions grow tax-deferred and withdrawals for qualified expenses, including tuition, fees, room and board, books, and a limited amount of K-12 tuition, are entirely tax-free at the federal level. Contributions are not federally tax-deductible, but many states offer a state income tax deduction or credit for contributions to their own plan, and the account owner retains control of the funds and can change the beneficiary.

529 rolloverStocks

A tax-free transfer of funds from one 529 plan to another 529 plan for the same beneficiary, limited to once every 12 months, or to a 529 plan for a different qualifying family member, allowing account owners to switch plan providers or consolidate accounts without losing tax-advantaged status. Rollovers must be completed within 60 days if the funds are distributed to the owner rather than transferred directly between plans, similar to IRA indirect rollover rules.

529-to-Roth rolloverStocks

A SECURE 2.0 Act provision, effective 2024, that allows unused 529 plan funds to be rolled directly into a Roth IRA owned by the 529 beneficiary, subject to a $35,000 lifetime cap per beneficiary, an annual amount that cannot exceed that year's regular Roth IRA contribution limit, and a requirement that the 529 account have been open at least 15 years with the rolled funds having been in the account for at least five years. It gives families a way to repurpose leftover education savings for the beneficiary's retirement without triggering the tax and penalty a non-qualified 529 withdrawal would otherwise owe.

"To" Glide Path(to glide path, to-retirement glide path) Stocks

A target-date fund glide path design in which the asset allocation keeps shifting toward its most conservative mix right up until the target date, then stays fixed (static) afterward. It is built for an investor expected to roll assets out of the fund at retirement (for example, into an annuity or a different withdrawal vehicle), rather than continue holding the fund through the decumulation years.

"Through" Glide Path(through glide path, through-retirement glide path) Stocks

A target-date fund glide path design in which the asset allocation continues shifting more conservative for years after the target date is reached, typically leveling off 10-20 years into retirement rather than at retirement itself. It is built for an investor expected to keep holding and drawing down the fund throughout retirement, so it maintains a somewhat higher equity allocation at the target date than a comparable 'to' glide path to help guard against outliving the portfolio.

100% Equities StrategyStocksCrypto

A hundred percent equities strategy holds only shares, with no allocation to bonds, cash or other asset classes beyond incidental balances. It maximizes exposure to the long-run equity risk premium and therefore also to equity drawdowns, which historically have exceeded half the portfolio value in severe bear markets and taken years to recover. Its suitability depends on the investor time horizon and on whether withdrawals will be required during a decline, since selling into a fall converts a paper loss into a permanent one.

457 plansStocks

Deferred compensation plans authorized under section 457 of the Internal Revenue Code. Governmental 457(b) plans are offered by state and local employers, hold assets in trust for participants, and can be rolled to other retirement accounts. Non-governmental 457(b) plans, used by tax-exempt employers, leave assets as property of the employer and reachable by its creditors. Distribution rules differ from 401(k) plans, and annual deferral limits are set by the IRS.

48-Hour RuleStocks

The 48-hour rule governs to-be-announced trading in agency mortgage-backed securities, requiring the seller to notify the buyer of the specific pools that will be delivered by a set cutoff, currently three in the afternoon Eastern time two business days before settlement. Until that notification the trade specifies only issuer, coupon, maturity and settlement month, which is what makes the market fungible and liquid. The rule fixes the point at which the buyer learns exactly which collateral it is receiving, and is administered under industry trading practices.

90/10 StrategyStocks

The 90/10 strategy is an allocation concept that places the large majority of a portfolio in a low-cost broad equity index fund and the remainder in short-term government securities. It became widely discussed after Warren Buffett described leaving instructions along those lines for a trust in his 2013 shareholder letter. The mechanics are simple: the equity sleeve supplies long-run growth and carries the volatility, while the short-dated sleeve supplies liquidity for spending without forcing sales after a market decline. Suitability depends entirely on an individual's horizon and circumstances.

0x ProtocolCrypto

0x Protocol is an open set of smart contracts on Ethereum-compatible blockchains for exchanging tokens without a central operator. Orders are created and signed off-chain by the maker, distributed by relayers or aggregators, and settled on-chain when a taker submits a matching order to the contract, which verifies the signature and moves both sides' tokens in a single transaction. Keeping order books off-chain cuts cost. The ZRX token is used for protocol governance.

10-Q SEC Form(Form 10-Q) Stocks

Form 10-Q is the quarterly report that most companies with securities registered in the United States file with the Securities and Exchange Commission for each of their first three fiscal quarters. It contains condensed, unaudited financial statements, management's discussion of results, disclosure about market risk, and updates on legal proceedings and risk factors. The fourth quarter is covered by the annual Form 10-K instead. Filing deadlines depend on the company's filer status.

12B-1 FundStocks

A 12b-1 fund is a mutual fund that charges an annual distribution fee out of fund assets, authorized by Rule 12b-1 under the Investment Company Act of 1940. The money pays for marketing, advertising and ongoing compensation to the brokers and platforms that sell and service the shares, and it reduces shareholder returns because it is deducted before performance is reported. Maximum rates are capped by regulatory rules and the fee is disclosed in the prospectus.

130-30 StrategyOptionsStocks

A 130-30 strategy holds long positions equal to about 130 percent of capital, funded partly by short positions equal to about 30 percent, leaving net market exposure near 100 percent. The shorts let the manager act on negative views instead of merely underweighting a stock to zero, which widens the range of active positions available from the same capital. Gross exposure near 160 percent magnifies both selection mistakes and financing costs.

2/28 Adjustable-Rate MortgageStocks

A 2/28 adjustable-rate mortgage carries a fixed introductory rate for the first two years, then adjusts periodically over the remaining twenty-eight years of its thirty-year term at a margin above a reference index. The introductory rate is usually set below the fully indexed rate, so the payment can jump sharply at the first reset even if market rates have not moved. Loans of this shape were written widely to subprime borrowers before the 2007 housing downturn.

5-6 Hybrid Adjustable-Rate MortgageStocks

A 5/6 hybrid adjustable-rate mortgage keeps a fixed interest rate for the first five years, then resets every six months for the remainder of its term at a margin over a reference index. Periodic and lifetime caps limit how far the rate can move at each reset and in total. The structure gives payment certainty for the early years and transfers interest rate risk to the borrower once the adjustment period begins.

52-Week High/LowStocksCrypto

The 52-week high and low are the highest and lowest prices at which a security has traded over the previous year, updated on a rolling basis. Traders use them as reference levels: a move above the prior high means every buyer from the last year holds a profit, while a new low means the opposite. The figures also serve as screening filters and appear in exchange data feeds, though whether they carry predictive information is disputed.

11th District Cost of Funds Index(COFI) Stocks

The 11th District Cost of Funds Index is a legacy adjustable-rate mortgage index built from the weighted average interest expense that savings institutions based in Arizona, California and Nevada paid on deposits and borrowings, compiled by the Federal Home Loan Bank of San Francisco. Loans tied to it reset at the index plus a fixed margin. Because it reflects deposits already on the books rather than current market rates, it lags, and fallback language in the loan documents governs what happens if such an index ceases.

2000 Investor LimitStocksCrypto

The 2,000 investor limit is the shareholder count that triggers registration of a class of equity securities under Section 12(g) of the Securities Exchange Act. A company with total assets above a threshold set by the Securities and Exchange Commission must register, and begin filing periodic reports, once a class is held of record by 2,000 or more persons, or by 500 or more who are not accredited investors. The JOBS Act raised the count and excluded shares held under employee compensation plans.

500-Shareholder ThresholdOptionsStocks

The 500 shareholder threshold was the count of holders of record that, combined with a minimum asset size, forced a private company to register a class of equity with the Securities and Exchange Commission and begin filing public reports. It pushed companies with widely held stock into disclosure whether or not they had raised money publicly. The JOBS Act replaced it with a two-part test: 2,000 holders of record in total, or 500 who are not accredited investors, with employee plan shares excluded.

12b-1 feesStocks

A 12b-1 fee is an annual charge a United States mutual fund deducts from fund assets to pay for distribution, marketing and shareholder servicing, authorized by Rule 12b-1 under the Investment Company Act of 1940. It is taken out of the fund rather than billed to the investor, so it reduces net return without appearing as a separate charge, and it is included in the expense ratio. The fund's board must approve the plan and its terms, and FINRA rules limit how large the charge may be and how long it can be collected.

10-Year Treasury NoteStocks

A debt security issued by the United States Treasury that matures ten years from issue and pays a fixed coupon every six months, repaying face value at maturity. It is sold at regular auctions and trades in a deep secondary market, where the most recently auctioned issue is the on-the-run benchmark. Its yield is widely used as the reference for long-term dollar borrowing costs, including mortgage pricing and corporate bond spreads.

125% LoanStocks

A loan advanced for more than the value of the collateral securing it, up to roughly one and a quarter times that value. It was marketed as a home equity product letting borrowers consolidate other debts against a property, and it leaves the borrower immediately owing more than the asset would fetch. The lender's recovery on default depends mainly on the borrower's income rather than the security, so pricing carries a large risk premium.

18-Hour CityStocks

Property industry shorthand for a mid-sized city whose amenities, employment and nightlife extend well beyond office hours but not around the clock the way a large gateway city does. Investors use the label for markets offering lower entry prices, lower occupancy costs and faster population growth than the largest metropolitan areas, in exchange for thinner liquidity and greater dependence on a narrower set of local employers.

3-2-1 Buy-Down MortgageStocks

A mortgage where an upfront payment, usually funded by the seller or builder, temporarily reduces the interest rate by three percentage points in the first year, two in the second and one in the third, after which the note rate applies for the rest of the term. The subsidy sits in an escrow account and is released each month to make up the difference. Underwriting standards determine whether the borrower is assessed at the reduced or the full rate.

3/27 Adjustable-Rate MortgageStocks

A thirty-year mortgage that carries a fixed rate for the first three years and then adjusts periodically for the remaining twenty-seven, with each new rate set as a published index plus a margin, subject to caps on individual adjustments and over the life of the loan. Products of this shape were common in subprime lending, where the payment jump at the first reset assumed the borrower would refinance before it arrived.

30-Year TreasuryStocks

The longest maturity security regularly issued by the United States Treasury, paying a fixed coupon semiannually and repaying face value thirty years after issue. Known as the long bond, it is the most interest-rate-sensitive of the Treasury issues, so a given change in yield moves its price far more than it moves a short note. Its yield is used as a reference for long-dated liabilities such as pension and insurance obligations.

401(a) PlanStocks

An employer-sponsored retirement plan established under section 401(a) of the United States Internal Revenue Code, used mainly by government bodies, schools and non-profit employers. The employer sets the terms: who participates, whether employee contributions are mandatory, how much the employer contributes, and the vesting schedule for employer money. Contributions and investment earnings are not taxed until distribution, and annual contribution and compensation limits are set by the Internal Revenue Service.

412(i) PlanStocks

A defined benefit pension plan funded entirely with life insurance and annuity contracts issued by an insurer, which under United States tax law removed the need for separate actuarial funding calculations because the fixed terms of those contracts determined the required contributions. The provision was renumbered to section 412(e)(3), and the Internal Revenue Service challenged arrangements that used inflated insurance costs to generate outsized deductions for small business owners.

52-Week RangeStocksCrypto

The highest and lowest prices at which a security has traded over the preceding year, quoted as a pair. It gives quick context for where the current price sits relative to the past year of trading, and the distance to each end feeds screens, position sizing and momentum strategies that focus on stocks near new highs. The range is calculated on a rolling basis, so it changes as older observations drop out.

28/36 RuleStocks

A mortgage underwriting guideline holding that housing costs should not exceed twenty eight percent of gross monthly income, and that total debt payments including the mortgage should not exceed thirty six percent. Housing costs here mean principal, interest, property taxes and insurance, plus any association dues. Lenders use it as a starting screen, and individual loan programmes apply their own ratios, which can be higher where compensating factors such as reserves or credit history are present.

10-K WrapStocksCrypto

An annual report to shareholders assembled by binding a glossy narrative section around a copy of the company's Form 10-K filing, rather than typesetting a separate full report. The wrap adds a letter from the chief executive, highlights and photographs, while the audited financial statements, risk factors and management discussion are the filed document itself. Companies adopt it to cut printing and preparation cost, and it also reduces the chance of inconsistency between the marketing narrative and the regulated filing, since only one set of financial statements exists.

12b-1 PlanStocks

The written plan a United States mutual fund's board must adopt before the fund may pay distribution and shareholder servicing expenses out of fund assets, authorised by Rule 12b-1 under the Investment Company Act of 1940. The rule requires approval by the board including a majority of independent directors, annual review of whether the plan should continue, and a finding that it will benefit the fund and its shareholders. The plan sets a maximum annual rate, which FINRA rules cap separately, and it can be terminated by the independent directors or by shareholder vote.

3(c)(7) ExemptionStocksCrypto

An exclusion from the definition of an investment company under the United States Investment Company Act of 1940 for a fund whose outstanding securities are held only by qualified purchasers and which does not make a public offering. Because the qualified purchaser test is based on the amount of investments a person owns rather than on income or net worth alone, the exclusion supports funds with far more holders than the alternative exclusion in section 3(c)(1), which caps the number of beneficial owners instead. Hedge funds and private equity funds rely on one or the other.

341 MeetingStocks

The meeting of creditors a bankruptcy debtor must attend under section 341 of the United States Bankruptcy Code, held shortly after a case is filed. The trustee administers it and questions the debtor under oath about assets, liabilities, income and the accuracy of the filed schedules, and creditors who attend may question the debtor as well. It is not conducted by a judge, and the judge is prohibited from attending. Failure to appear can lead to dismissal of the case, and the meeting starts the clock for certain objection deadlines.

501(c)(3) OrganizationsStocks

United States entities exempt from federal income tax because they are organised and operated exclusively for charitable, religious, educational, scientific or similar purposes listed in that subsection of the Internal Revenue Code. No part of the earnings may benefit a private individual, political campaign activity is prohibited and lobbying is limited. Donors may generally deduct contributions, which is what separates this category from other exempt organisations. Exemption is recognised on application to the Internal Revenue Service, and unrelated business income remains taxable even though the entity itself is exempt.

80-10-10 MortgageStocks

A home purchase financed with a first mortgage covering eighty percent of the price, a simultaneous second lien for ten percent, and a ten percent cash down payment. The structure keeps the first lien at the eighty percent threshold above which lenders typically require private mortgage insurance, substituting a higher-rate second loan for that premium. Whether it costs less depends on the second lien's rate and on how long the insurance would otherwise have run, and the second loan is often a variable rate line, so the comparison changes as rates move.

183-Day RuleStocks

A tax residency test that counts days of physical presence in a country over a defined period to decide whether a person is taxed there as a resident. The United States version, the substantial presence test, adds all days in the current year to a fraction of the days in the two preceding years and treats the person as resident if the weighted total reaches the statutory threshold, subject to exemptions for certain visa categories and a closer-connection exception. Other countries apply their own day counts, and tax treaties can override the result.

2-1 BuydownStocks

A mortgage arrangement in which a lump sum paid at closing, usually by the seller or builder, subsidizes the borrower's interest rate for the first two years: the rate sits two percentage points below the note rate in year one and one point below in year two, then reverts to the full note rate for the remaining term. The subsidy is held in an escrow account and released monthly to cover the difference. Qualification is normally underwritten at the full note rate, not the discounted starting rate.

5/1 Hybrid Adjustable-Rate MortgageStocks

A mortgage carrying a fixed interest rate for the first five years and then adjusting once a year for the rest of its term. Each adjustment sets the rate at a published index plus a fixed margin, subject to caps limiting how far it can move at the first reset, at each later reset and over the life of the loan. The fixed opening period usually prices below a comparable thirty-year fixed loan, and the borrower carries the risk that index levels are higher when resets begin.

60-Plus DelinquenciesStocks

A loan performance measure counting borrowers whose payments are more than sixty days past due, reported as a percentage of the loans or of the balance in a pool. It is watched closely in mortgage and consumer credit because sixty-day delinquency predicts eventual default far better than a single missed payment, which is often an administrative slip. Servicers and rating agencies track the rate over time, and a rising sixty-day bucket inside a securitization is an early signal that losses may reach the deal's credit support.

8(a) FirmStocksCrypto

A small business admitted to the United States Small Business Administration's 8(a) Business Development Program, which assists companies at least fifty-one percent owned and controlled by individuals the agency judges socially and economically disadvantaged. Participation runs for a limited number of years and gives access to set-aside and sole-source federal contracts along with mentoring and management assistance. Eligibility criteria, net worth and income tests and the length of the program term are set by regulation and administered by the agency.