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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.

Arbitrage

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

Commodity

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.

Equity

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.

Insurance

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).

Quants

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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