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Home  > Article

Numbers Aren't The Only Thing You Need To Know

By Lucas Laursen

Here's a list of industry-specific terms to help you make it in the world of finance.

A set of fundamental terminology will help you immerse yourself in the world of finance.


The practice of exploiting market imbalances by purchasing something in one market and selling it for a better price in a different one.


Generic physical goods, usually unprocessed, traded or purchased with cash in large quantities. The right to buy these at a certain price is known as a future.


A measure of the net value of some asset after all liabilities are accounted for. The exact significance depends on the context.

Hedge Fund

A portfolio that makes use of a sophisticated and aggressive mix of high-risk/reward investments balanced by safer opportunities in order to maximize returns.

Insider Trading

A transaction based on non-public information. Heard of Martha Stewart? Uncle Sam disapproves.


A contract designed to spread risks, including financial risks, across many clients through payment of premiums and/or deductibles to the provider.

Lateral Hiring

Hiring across departments, companies, or fields. This is a common way of gaining entry into prestigious positions in asset management, for example, from jobs in investment banking, consulting, or even marketing.

Pitch Book

A sales device used by investment banks to woo clients. Drawn up for specific deals by banks competing, for instance, to help launch a startup's initial public offering (IPO).


Slang for financiers who perform quantitatively-intensive tasks, often with training in the mathematical or physical sciences.

Venture Capital

Funds invested by outside parties in a startup business. Higher risk is accepted in return for anticipated above average returns.

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