Dr. Harvey's Financial Glossary

Wednesday, May 14, 2008

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S: Fifth letter of a Nasdaq stock symbol specifying a beneficial interest.
S Corporation: A corporation that elects not to be taxed as a corporation. That is, the corporation does not directly pay federal income tax on its earnings. Similar to a partnership, it passes its income or losses and other tax items on to its shareholders.
S&P: Standard & Poor's Corporation.
S&P 500 Composite Index: Index of 500 widely held common stocks that measures the general performance of the market.
S&P MidCap 400 Index: A market capitalization-weighted benchmark index made up of 400 securities with market values between $200 million and $5 billion.
S&P phenomenon: Tendency of stocks newly added to theS&P composite index to rise in price due to a large number of buy orders as S&P-related index funds add the stock to their portfolios.
S&P Rating: Rating service provided by S&P that indicates the amount of risk involved with different securities.
S&P SmallCap 600 Index: A small-capitalization benchmark index made up of 600 domestic stocks chosen for market size, liquidity, and industry group representation.
SA: The ISO 3166 country code for SAUDI ARABIA.
SACE: The Italian export credit agency.
Safe harbor: Often used in risk arbitrage as a form of shark repellent. A target company acquires a business so onerously regulated that it makes the target less attractive, giving it, in effect, a safe harbor.
Safe harbor lease: A lease to transfer tax benefits of ownership (depreciation and debt tax shield) from the lessee, if the lessee could not use them, to a lessor that could use them.
Safekeep: Holding by a bank of bonds and money market instruments. For a fee, the bank clips coupons and presents for payment at maturity.
Safety cushion: In a contingent immunization strategy, the difference between the initially available immunization level and the safety-net return.
Safety-net return: The minimum available return that will trigger an immunization strategy in a contingent immunization strategy.
SAFEX: See Also: South African Futures Exchange
SAI: See Also: Statement of Additional Information
SAIF: See: Savings Association Insurance Fund
SAL: See Also: Structural Adjustment Loan Facility
Salary: Regular wages and benefits an employee receives from an employer.
Salary freeze: A temporary halt to increases in salary due to financial difficulties experienced by a company.
Salary reduction plan: A plan allowing employees to contribute pre-tax income to a tax-deferred retirement plan.
Salary Reduction Simplified Employee Pension Plan: A low-cost, no-frills version of a 401(k) employee savings plan available to companies with 25 or fewer employees. It allows employees to make pretax contributions to their IRAs through salary_reduction_plan each year. The Small Business Job Protection Act of 1996 replaced SARSEPs with SIMPLE (Savings Incentive Match Plan for Employees) plans. Existing SARSEPs were allowed to add new participants, but new plans could not be formed after December 31, 1996.
Sale: An agreement between a buyer and a seller on the price to be paid for a security, followed by delivery.
Sale and lease-back: Sale of an existing asset to a financial institution that then leases it back to the user. Related: Lease.

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