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Preferred stock


Definition: A special type of stock that corporations may issue to raise money. It differs substantially from common stock in that: * it has no voting rights * it is entitled to a fixed (ie, unchanging) dividend, not one that may increase from year to year as may be the case for common stock *



Definition: The collection of different investments, such as stocks, bonds, and commodities, that a person or company holds. This spreading out of money, called diversification, reduces risk and is the primary goal of building a portfolio.

No income verification loan


Definition: A type of loan whose application requires the borrower to state how much she earns. The bank, however, never checks to see if this amount is accurate. For the borrower, the trade-off for not having to provide real proof of what she earns is that the interest rate she is charged by the bank

No documentation loan


Definition: A loan which does not require the borrower to document (ie, prove) his income, how much money he has saved up, or other information that would normally be required before a bank would give him a mortgage (ie, agree to loan him money). The trade-off for the borrower is that he must pay a higher