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Initial investment capital necessary for starting a business. Investment capital usually consists of inventory, equipment, pre-opening expenses and leaseholds.

Also called income funds. Income trusts are trusts structured to own debt and equity of an underlying entity, which carries on an active business, or has royalty revenues generated by the assets of an active business. By owning securities or assets of an underlying business, an income trust is structured to distribute cash flows, typically on a monthly basis, from those businesses to unit holders in a tax-efficient manner. The trust structure is typically utilized by mature, stable, sustainable, cash-generating businesses that require a limited amount of maintenance capital expenditures. An income trust is an exchange-traded equity investment that is similar to a common share. There are four categories of income trusts: business trusts; real estate investment trusts (REITs); energy trusts; and power, pipeline, and utility trusts.

A company estimates the future profitability of a trade made today and books a profit today based on the present value of those estimated future profits.

All directors and senior officers of a company, and those who are presumed to have access to inside information concerning the company. An insider is also anyone owning more than 10% of the voting shares of a company.

The Global Industry Classification Standard (GICS) is a consistent set of global economic sector and industry definitions. GICS are used to classify the constituents of many indices worldwide. GICS is a four-level classification system. The four levels are: sector, industry group, industry, and sub-industry. Standard & Poor’s and Morgan Stanley Capital International (MSCI), two providers of global indices, jointly launched GICS in 1999.

A specialist in the investment industry paid by fee to provide advice and research to investors with large accounts.

Growth at a reasonable price. A strategy of buying stocks whose price/earnings ratio is equal to or less than the estimated annual earnings growth rate.

number of shares owned or controlled by insiders.

The term used to describe a security that is in proper form to transfer title, which means that the registered owner has endorsed it. To settle a sale, the certificate must be surrendered on good delivery by the seller. A certificate that bears a share transfer restriction will not constitute good delivery. The term used to describe a security that is in proper form to transfer title, which means that the registered owner has endorsed it. To settle a sale, the certificate must be surrendered on good delivery by the seller. A certificate that bears a share transfer restriction will not constitute good delivery.

Securities firms that employ investment advisors to work with retail and institutional clients. Investment dealers have underwriting, trading and research departments.