Glossary

Wall Street
The location of New York's financial district; most often used to refer to major participants in the United States sharemarket generally.

Warrant
A certificate giving the holder the right to purchase shares of stock at a stipulated price within a specified time span, or in some cases, indefinitely. Warrants are sometimes attached to other securities as an added purchase inducement and may be traded separately after issue. They are similar to call options.

Wasting Asset
An asset which declines in value over time. An option is a wasting asset because its time value will decay up until expiration day at which point the option value will be equal to only its intrinsic value.

Weighting
The relative proportion of each of a group of securities or asset classes within a single investment portfolio. (See also Overweight, Underweight).

White Knight
A friendly party in a takeover. The white knight `saves' the target company from being controlled by an unfriendly aggressor by acquiring a block of shares in the company.

Wholesale Investment Products
Investment funds that are structured and tailored for professional investors (including most superannuation funds, institutions and corporate investors) to invest in.

Withholding Tax
The tax payable on payments such as dividends, interest and debt repayments, sent to foreign entities.

Write Down
To reduce the recorded value of an asset in an account, eg. owing to depreciation.

Writer
The creator, or seller, of an option.

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