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 #
Valuation
- The estimated or determined worth of a stock, based on financial
measures such as the stock’s current price relative to earnings,
revenue, book value and cash flow.
Valuation
Date -
The Funds are valued daily and the Net Asset Value per Share is or
will be calculated on each Luxembourg Business Day.
Value
Investing
- A strategy that seeks to identify stocks that are sound
investments but are temporarily out of favor in the marketplace. As
a result, the stocks trade at prices below what value investors
believe the stocks are actually worth.
Value-Oriented Stock Funds -
Invest in companies that are considered to be value stocks. Value
stocks usually have above-average price/earnings multiples and low
price-to-book ratios and have higher than average dividend payments
in relation to price. Value stocks are often referred to as being
undervalued in the current market.
Value Style
- An investment style that seeks to identify
securities with below average price-to-earnings, price-to-book and
price-to-cash flow relative to their peers that have attractive
prospects for improved price performance. As a result, the stocks
trade at prices below what value investors stocks are actually
worth.
Variable Annuity - A tax-deferred investment that offers
diversification, flexibility and important estate benefits with no
contribution limits. Morgan Stanley Investment Management offers
variable annuity products through the Universal Institutional Funds.
Variable
Interest Rate - Interest rate that is adjusted as market rates
change. Can be found in adjustable rate mortgages, bonds, and
certificates of deposit.
Vested -
Employee ownership of retirement savings.
Vesting - The entitlement to full pension plan benefits.
Normally expressed as the number of months and years of employment
required to be vested.
Volatility - Relative measure of a security's price movement
during a specific time.
Volume
- The number of shares of a stock traded during expressed in
hundreds. For example, if the volume shows 3,400 on a quote, 340,000
shares of stock were traded.
Voting
Right -
Stockholder's right to vote in the affairs of the corporation
Voting Trust - The deposit of shares with a trustee to
gain long-term corporate control.
Warrant - A
security that allows the owner to purchase the issuing corporation's
stock for a certain price over stated period. That period could be
10 or 20 years, and the price of the conversion is much higher than
the current price of stock issue. A warrant is usually issued with
another security, such as one warranty plus one bond, both of which
form on unit.
Wash
Sale -
Purchase and sale of a security either at the same time or within a
short period of time. Wash Sales taking place within 30 days of the
underlying purchase do not qualify as tax losses under IRS rules.
Wash-Sale
Rule -
The Wash-Sale Rule prevents taxpayers (non-dealers) from selling
securities at a loss and reacquiring "substantially identical"
securities within a 30-day period before or after a loss. The
Internal Revenue Service has taken the position that the Wash-Sale
Rule will disallow a loss on the sale of the security.
Wasting
Asset -
An asset that has a limited life and tends to decrease in value over
time.
Weighted Average Market Capitalization
-
The weighted and adjusted arithmetic mean of the market cap (number
of outstanding common shares of a given corporation multiplied by
the latest price per share).
Weighted Average Maturity - The arithmetic mean of maturities
of securities held by a mutual fund.
Weighted Median Market Capitalization
-
Value at which half of the market cap (number of outstanding common
shares of a given corporation multiplied by the latest price per
share) weight falls above and half below.
When Issued - A symbol next to the price in a newspaper stock
or bond listing which indicates that the price shown is for a
security that has been authorized but is not yet trading. Frequently
used to show after split price before a split has occurred.
White Knight - A company that rescues another in financial
difficulty, especially one which saves a company from an unwelcome
takeover bid.
Wire House - National or international
brokerage firms whose branch offices are linked by communication
networks. The term dates back to when only the largest firms had
high speed communications. The networks rapidly disperse information
and research about securities and markets. Through increased
technology, regional brokers and small retail firms now have the
same ability. However, the designation as a wire house is used only
to refer to the largest brokerage firms.
Withdrawal Plan
- The ability to establish automatic, periodic mutual fund
redemptions and have proceeds mailed directly to the investor.
Withholding Tax (W/Tax) - The Internal Revenue
Service (IRS) requires financial institutions to report all client's
social security numbers, interest and dividend payments and sale
proceeds. This practice applies to all US citizens and resident
aliens. Those clients who have not furnished a W-9 or W-8 form to
the institution are subject to withholding tax--also known as
"backup withholding".
Work-Out Quote - Subject quote in which the trader estimates the
price at which he thinks the security can be bought or sold if given
time to find a market.
World Bond Funds
- Funds that invest in the bonds of
U.S. and foreign governments
World Stock Funds
- Funds that invest in the stocks of
U.S.
and foreign companies.
W-Type Bottom
- A double-bottom where the price or indicator chart has the
appearance of a W.