List of Glossary Terms

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 Numeric


WAGES
The regular remuneration of unskilled or semi-skilled, usually blue-collar workers in exchnage for their labour. Wages are often paid weekly or bi-weekly. This is as opposed to... read more
 
WAITER
A messenger at the London Stock Exchange who takes messages between stockbrokers and their clients. The term originates in the 17th century when people wishing to buy and sell shares... read more
 
WALL STREET
The largest stock exchange in the world, located in New York City on Wall Street. Wall Street is a nick name for the New York Stock Exchange (NYSE) - because it is located on Wall Street in New... read more
 
WALL STREET JOURNAL
A daily business newspaper which is published six days a week in America (from New York City) and in Asia (in Chinese and Japanese). The Journal is one of the most widely read and highly respected... read more
 
WALLFLOWER
A share which has not attracted the attention of institutional fund managers. This generally means that its volume traded is low and it does not attract much research... read more
 
WAR CHEST
A collection of cash and near cash held by a company together with pre-arranged borrowing facilities which enable it to seek out acquisitions. Companies with... read more
 
WAREHOUSE RECEIPT
A document guaranteeing the existence and availability of a given quantity and quality of a commodity in storage; commonly used as the instrument of transfer of ownership in both cash and futures... read more
 
WARRANT
Warrants are securities traded on the JSE. They are derivatives that closely resemble options and include the right but not obligation to buy (call), sell (put) or participate in the performance... read more
 
WASTING
A term depicting how an option's value decreases over time; as each day after acquisition passes a portion of the option's time value is lost or wasted.  
 
WASTING ASSET
An asset which is steadily losing value. Almost all assets, with the exception of land, are slowly losing value and have to be depreciated in the books of account. Another... read more
 
WATCHLIST
A list of shares of different listed companies which is being watched by an investor. As a private investor you should always maintain and monitor your watchlist. Whenever you read about an interesting... read more
 
WAVE
In Elliott wave theory, a sustained move by a market's price in one direction as determined by the reversal points that initiated and terminated it.
 
WAVE AND CYCLE THEORY
Technical analysis or charting can be broken down into formations, line charts and wave and cycle theories. Over the decades since investors started charting the progress of share prices, indexes... read more
 
WAVE CYCLE
An impulse wave followed by a correction wave, the impulse wave being made up of five smaller, numbered waves of alternating direction designated 1, 2, 3, 4 and 5, and the correction wave being... read more
 
WBO
06 - 06 - 2020
WBHO (WBO) is now South Africa's largest construction company - after the demise of Aveng and Murray & Roberts. It has a market capitalisation of about R6,5bn. It diversified... read more
 
WEA
06 - 04 - 2020
Wearne (WEA) is a supplier of materials to the building and construction industry. It supplies pre-mix products, pre-cast concrete products, readymix concrete and aggregates.... read more
 
WEAK HANDS
Ignorant and generally inactive investors who make trades on the JSE for personal reasons (like they need the money to buy a house) which are entirely unrelated to the reality of the share. Weak... read more
 
WEDGE FORMATION
A pattern in which two converging trend lines connect a group of price peaks and troughs. Very similar to the triangle formation, the wedge is considered to be a longer term signal occurring... read more
 
WEIGHT OF FUNDS
The substantial sums of money which large institutional investors have to invest. In South Africa there are three types of institutions - pension funds, unit trusts and insurance... read more
 
WEIGHTED AVERAGE
An average calculated by giving some variables within the data more value than others. In other words, each number within the data set is given a certain weight determining its influence on the... read more
 
WEIGHTED AVERAGE PURCHASE PRICE
Multiply each purchase order bought by the associated purchase price, add them together and divide the total by the number of blocks. The result is the weighted average purchase price.
 
WEIGHTED INDEX
Indexes are usually weighted for the market capitalisation of the shares which it includes. Thus a share with a massive market capitalisation like Naspers which is worth... read more
 
WEIGHTED MOVING AVERAGE
A moving average that puts more weight on recent prices. A three-day weighted moving average would apply a multiple of 1 to the price of the first date, 2 to the second date and 3 to the third... read more
 
WEIGHTING
The adjustment of figures within a data stream to change their relative emphasis in a calculation. Thus, for example, in an exponentially weighted moving average , the prices closer to... read more
 
WEZ
01 - 10 - 2020
Wesizwe (WEZ) is a miner of platinum group metals through its development of the Bakubung Platinum Mine (BPM). The company is developing a mine to access the Merensky and... read more
 
WHIP LASH
In technical analysis when a share's price cuts up and down through its moving average giving a series of buy and sell signals at more or less the same price. This happens when the share's price... read more
 
WHIPSAW
Losing money on both sides of a price swing.
 
WHISPER NUMBER
A currency amount which fund managers and others in the investment management business talk about for a particular company's key statistics (like its profit) before they are announced. For example,... read more
 
WHISTLE BLOWER
The Protected Disclosures Act (26 of 2000), also called the "Whistle Blowers Act" aims to protect employees, either in the private sector or government service who report unlawful... read more
 
WHISTLE BLOWERS ACT
The Protected Disclosures Act (26 of 2000), also called the "Whistle Blowers Act" aims to protect employees, either in the private sector or government service who report unlawful... read more
 
WHITE COLLAR
A term used to describe office workers and management, as opposed to workers who are in line functions in factories. White collar workers (especially management) are normally salaried... read more
 
WHITE GOODS
Large domestic appliances like, fridges, washing machines, dryers, stoves and microwave ovens. These types of big-ticket purchases are very influenced by the state of the economy. During a recession... read more
 
WHITE KNIGHT
A person or company who rescues a business from a hostile takeover usually by buying a large block of their shares which makes the hostile takeover impossible. A person or... read more
 
WHL
18 - 09 - 2020
The sad fall of the Woolworths share (WHL) price has been occasioned by the decision by previous CEO, Ian Moir, and his board to buy David Jones in Australia for AU$2,1bn... read more
 
WICK
The wick or tail, at one end or both, designating the high and/or low prices for the period upon which a candle is based. In order to create a candlestick chart, you must have a data set that... read more
 
WICK
A candlestick charting term which refers to the extent to which a share's price trades below its open, in a green candle or its close in a red candle. In candlestick charting the candle is coloured... read more
 
WIDOWS AND ORPHANS FUND
An institutional term referring to a fund which is dominated by the need to generate income rather than rapid capital growth.
 
WIL
07 - 06 - 2019 Wilderness Holdings (WIL) is a tourism company which is focused on safari tours together with transfers, camps, as well as finance and asset management. It serves an international... read more
 
WILLIAM GANN
An American trader of securities who developed a complex system of charts using astrology, geometry and archaic maths. He died in 1955, but left a substantial following who still use his methods... read more
 
WILLIAM'S PERCENTAGE R
Overbought and oversold indicator that is used to determine market entry and exit points.
 
WILTSHIRE 5000 TOTAL MARKET INDEX
A market capitalisation weighted index of all actively traded shares which have their headquarters in America. The index now includes less than 3500 shares. Most of the shares... read more
 
WINDOW
Set period of time such as a look-back period for market indicator in question.  
 
WINDOW DRESSING
A practice, over the December period when trade on the JSE is very thin, when institutions drive the prices of the shares in their portfolios up so as to make their year-end figures look better.... read more
 
WKF
24- 08 - 2020
Workforce (WKF) is a labour broker that also does recruitment, specialist staffing, training, consulting, employee health management and sells financial and insurance products.... read more
 
WORK IN PROGRESS
That part of a company' stock which has been partly manufactured. It lies between raw materials and finished goods. Most manufacturers can divide their stock into raw materials, work-in-progress... read more
 
WORKING CAPITAL
Money which is tied up in the workings of the company. It is usually calculated by adding the company's debtors and stock and then subtracting its creditors and other current liabilities. Most... read more
 
WORLD BANK
The World Bank is an international financial institution that provides loans and grants to the governments of poorer countries, for the purpose of pursuing capital projects. South Africa approached... read more
 
WORLD ECONOMIC FORUM
A non-profit organisation that strives to improve the world by engaging with various societal leaders, mainly in business. It meets once a year in Davos, Switzerland and attracts about 2000 businessmen... read more
 
WORLD ECONOMY
The combined economies of all the countries of the world also called the global economic system. It is important for the private investor to develop a view on the state of... read more
 
WORLD GOLD COUNCIL
A marketing organisation of the 28 largest gold mining companies in the world operating in 45 countries. The organisations objective is to promote the purchase and use of gold.... read more
 
WORLD INFLATION
An average inflation rate for the world economy - which is an aggregate of all the economies of the world. World inflation is found by calculating a weighted average of the available inflation... read more
 
WSL
22 - 07 - 2020
Wescoal (WSL) is a 51% black-owned South African coal mining and distribution company. Its revenue is derived 35% from its trading division which supplies coal products to... read more