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GLOSSARY
Stock savings plan
Stock savings plan is a program that gives Canadian taxpayers tax breaks for investing in securities that support the provincial economy.
Stock screener
Stock screener is an online database tool that allows investors to select a set of investment preferences, and then search for stocks that match them. Preferences can relate to P/E ratio, market cap, EPS growth, etc.
Stockholder's equity
A sum of proceeds from the issuance of stock and retained earnings less amounts paid to repurchase common shares.
Store of value
Store of value is any asset or currency that holds value and can be exchanged for something else of value. In normal economic periods, currency is a store of value. When extreme economic cycles cause the public to distrust the value of a currency, consumers will begin trading with other stores of value, such as gold.
Straight life annuity
Straight life annuity is a retirement planning product available through insurance companies, which makes regular payments to the annuitant (the person covered by the annuity) until death. There's no beneficiary on this type of policy, so the payments cease at the annuitant's passing. This product may be appropriate for one who's primarily concerned with cash flow, but not for an individual who needs to provide for dependents.
Strategic asset allocation
Strategic asset allocation is an investing strategy that involves keeping certain percentages of capital invested in specific asset classes. Because each investment will perform differently over time, the investor must periodically review the allocation of invested capital, rebalancing the positions to the desired percentages of the total portfolio.
Strike price
Strike price is the specified price at which an option contract can be exercised. On a call option, the option holder can buy the security at the strike price; on a put option, the option holder can sell the security at the strike price. Strike price is also called exercise price, or grant price.
Stripper
Stripper is a slang term referencing a homeowner who repeatedly cashes out home equity by refinancing. The term has the negative implication that the money raised through these refinances is spent frivolously rather than invested for future growth. Those who strip their equity in this fashion have a false sense of wealth.
Structured finance
Structured finance is the segment of the commercial lending industry that provides complex debt products and solutions that are tailored for specific situations.
Student loan
Loans given to a potential student upon entering college or university to help pay for tuition and related expenses. Student loans carry lower interest charges than is typically available to consumers.
Student loan interest deduction
Student loan interest deduction is a tax break available to U.S. taxpayers who paid interest on loans used for higher education during a given tax year.
Student Loan Marketing Association
Student Loan Marketing Association is the former name for Sallie Mae, a federally established entity that's now an independent, publicly traded corporation. Sallie Mae is the largest provider of student loans in the country.
Sub prime borrower
A borrower who has been late on a mortgage payment or has a less-than-perfect credit report.
Sub prime mortgage
A mortgage granted to a borrower considered sub prime, or has a low credit score due to a late payments or a default.
Subagent
A commissioned real estate agent who finds a buyer for a property, but is not the property's listing agent.