Warrant
A security that allows the owner to purchase the issuing corporation's stock for a certain price over stated period. That period could be 10 or 20 years, and the price of the conversion is much higher than the current price of stock issue. A warrant is usually issued with another security, such as one warranty plus one bond, both of which form one unit.

Weighted Average Maturity
The arithmetic mean of maturities of securities held by a mutual fund.

White Knight
A company that rescues another in financial difficulty, especially one which saves a company from an unwelcome takeover bid.

Whole Life Insurance
Life insurance that provides protection for the entire life of the insured person, generally with a fixed face amount and fixed premiums.

Will
A document that directs how a person's property is to be distributed after death. It may also be used to nominate a person to serve as the guardian of minor children and the executor of the estate.

Withdrawal Plan
A program in which shareholders receive payments from their mutual fund investments at regular intervals.

Work-Out Quote
Subject quote in which the trader estimates the price at which he thinks the security can be bought or sold if given time to find a market.

Writer
Seller of an option contract to open.

 

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