L

Last split
After a stock split, the number of shares distributed for each share held, and the date of the distribution.

Leading economic indicators
A set of ten economic indicators that tend to rise or fall before the rest of the economy. Indicators include building permits, stock prices, real money supply, and vendor performance.

Lease
A long-term rental agreement, or a form of secured long-term debt.

Lessee
A person or organization that leases an asset from another.

Lessor
A person or organization that leases an asset to another.

Leverage
The use of fixed-rate debt financing to try to boost an investment's rate of return.

Leveraged buyout (LBO)
A strategy used to take a public corporation private financed through the use of debt funds (bank loans and bonds).

Liabilities
Claims against a corporation.

Limit order
An order to buy or sell a security at a customer's specified price or customer's order to buy or sell a specified number of shares of a security at a specific price.

Line of credit
A borrower receives a specified amount of unsecured credit for a specified period of time.

Liquidation
The process of selling off assets and paying creditors and shareholders after terminating a firm's business. Converting securities or property into cash.

Liquidity
The liquidity of a stock is the ease with which the market can absorb volume buying or selling without dramatic fluctuation in price.

Listed stock
A stock traded on an exchange.

Load
A sales charge associated with some mutual funds.

Locked in
Because of capital gains tax consequences, an investor does not sell a profitable investment.

Long
Stock ownership. One who has ownership of securities is in a 'long position.'

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