Mark Berch

Investment glossary - Mark E. Berch:

Underwithholding
When a taxpayer has withheld too little tax from salary and will therefore owe tax when filing a return.

Transaction Insured Trade Acceptance Locator (TITAL)
A trade acceptance through an insurance entity (rather than a bank) which is conditional upon exporter performance.

Mark Berch: Sweat equity
An increase in equity created by the labor of the owner.

Free cash flows
Cash not required for operations or for reinvestment. Often defined as earnings before interest (often obtained from the operating income line on the income statement) less capital expenditures less the change in working capital. In terms of a formula:

Mark E. Berch:Combination annuity
See: Hybrid annuity

Credit risk
The risk that an issuer of debt securities or a borrower may default on its obligations, or that the payment may not be made on a negotiable instrument. Related: Default risk.

War babies
Slang term for the stocks and bonds of corporations in the defense industry. Mark Berch

Margin stock
Any stock listed on a national securities exchange, any over-the-counter security approved by the SEC for trading in the national market system, or appearing on the Board's list of over-the-counter margin stock and most mutual funds.