List of Glossary Terms

A B C D E F G H I J K L M N O P Q R S T U V W X Y Z Numeric


HAMMER FORMATION
A bullish reversal candlestick pattern implying the start of an upward trend is likely to begin. The hammer consists of a candle which has a lower shadow at least twice the length of the candle's... read more
 
HAMMERSON PLC
08 - 04 - 2020
Hammerson (HMN) is a massive international property company that has listed on the JSE to take advantage of South African investors who want exposure to off-shore property... read more
 
HANGING MAN
A top reversal candlestick formation which signals the end of an upward trend, consisting of a candle with a small body and long lower shadow. This formation implies that the bulls are losing... read more
 
HAR
26 - 06 - 2020
Harmony (HAR) is South Africa's most marginal gold mine. A marginal gold mine is one which has a cost of extraction which is very close to the current gold price. This means... read more
 
HARAMI
Also called an inside day, the harami is a top or bottom candlestick reversal pattern which comprises of a small candle situated within the body of it's preceding candle. Harami means pregnant... read more
 
HARAMI CROSS
A top or bottom candlestick reversal pattern, very similar to the harami, comprising of two candles, one situated within the body of the other. The first candle has a large body. The second candle... read more
 
HARD ASSET
A commodity such as a metal or mineral. Most paper assets reflect some sort of claim to or against a hard asset, either directly or indirectly. The ultimate hard asset is gold, but all hard assets... read more
 
HARD CURRENCIES
First world currencies, like the US dollar, the British pound, the Japanese yen or the Euro. Currencies from third world or emerging countries tend to carry considerable political risk and thus... read more
 
HARD CURRENCY
A first-world currency which is relatively stable and serves as a good store of value. The hard currencies of the world include the US dollar, the euro, the British pound, the Japanese yen, the... read more
 
HARKISH POLICY
The Central Bank of a country is tasked with maintaining price stability while simultaneously ensuring growth. Unfortunately, these two objectives are mutually exclusive because when there is... read more
 
HARMONY GOLD MINING CO LTD
26 - 06 - 2020
Harmony (HAR) is South Africa's most marginal gold mine. A marginal gold mine is one which has a cost of extraction which is very close to the current gold price. This means... read more
 
HCI
18- 06 - 2020
Hosken Consolidated Investments (HCI) is a BEE investment holding company owned by the South African Clothing and Textile Workers' Union. It has investments in gaming, hotels,... read more
 
HDC
26- 06 - 2020
Hudaco (HDC) is an importer and supplier of "automotive, industrial and consumer products" mostly in Southern Africa. Its business has two sides (1) supplying automotive security,... read more
 
HDSA
The laws of South Africa are based on the constitutional requirement to remedy the imbalances of the past by benefiting historically disadvantaged South Africans. This generally means that the... read more
 
HEAD AND SHOULDERS FORMATION
A charting formation at the top of a cycle. The price chart forms three peaks the middle one of which is the highest. The "left shoulder" is generally reckoned to be where the "smart" money sells... read more
 
HEADLINE EARNINGS PER SHARE
The earnings of a company derived from its normal core business divided by the company's average number of shares in issue during the accounting period. This figure excludes exceptional and once-off... read more
 
HEADROOM
This is the amount of financial space that a company has in terms of surplus available funds. Most companies have cash assets as well as pre-arranged financial facilities which are available... read more
 
HEDGE
Action taken by an investor or speculator to protect his business or assets against a change in prices. For example, if an investor holds a large number of listed securities in a particular company... read more
 
HEDGE AGAINST INFLATION
Any tangible or hard asset which can be used to protect the investor against depreciation in the value of paper currencies. Gold and other precious metals are typically the most popular hedges... read more
 
HEDGE FUND
A mutual fund involving speculative investing in stocks and options.
 
HEPS
The earnings of a company derived from its normal core business divided by the company's average number of shares in issue during the accounting period. This figure excludes exceptional and once-off... read more
 
HERIOT REIT LIMITED
26 - 02 - 2020
Heriot (HET) is a real estate investment trust (REIT) which owns a diverse portfolio of properties worth R4,75bn in retail, industrial, commercial and specialist property.... read more
 
HERRICK PAYOFF INDEX
An index requiring two inputs, one of which is a smoothing factor known as the multiplying factor and the other of which is the value of a one-cent move.
 
HEURISTIC METHOD
Problem solving approached by trying out several different methods and comparing which provides the best solution.
 
HIGH
 
HIGH-TICKING
To pay the offered price.
 
HIGHLY ILLIQUID
Illiquid shares are those which trade less than R200 000 worth of shares every day on average. Such shares can be traded by private investors, but the big institutions (like pension funds, unit... read more
 
HIGHLY LIQUID
A term to describe a share which has a large number of shares changing hands each trading day. A good example is Sasol which has an average of 1,3 million shares at roughly R500 each trading... read more
 
HIGHLY RATED
This term describes the share of a company with a reputation for consistently growing its earnings. The rating of a company is dependent on the consistency with which it can grow headline earnings... read more
 
HIL
03 - 04 - 2020
Homechoice (HIL) is South Africa's largest home shopping retailer operating through two divisions - retail and financial services. It offers a broad range of home appliances,... read more
 
HISTORIC VOLATILITY
How much a contract price has fluctuated over a period of time in the past; usually calculated by taking a standard deviation of price changes over a time period.
 
HISTORICAL DATA
A series of past daily, weekly or monthly market prices (open, high, low, close, volume, open interest).
 
HISTORICALLY DISADVANTAGED SOUTH AFRICAN
The laws of South Africa are based on the constitutional requirement to remedy the imbalances of the past by benefiting historically disadvantaged South Africans. This generally means that the... read more
 
HLM
30 - 06- 2020
Hulamin (HLM) is a producer and supplier of aluminum products in South Africa and trades in more than 50 countries internationally. It supplies foil, heat-treated plate as... read more
 
HMN
08 - 04 - 2020
Hammerson (HMN) is a massive international property company that has listed on the JSE to take advantage of South African investors who want exposure to off-shore property... read more
 
HOLDER
The purchaser of either a call or put option. Option buyers receive the right, but not the obligation, to assume a futures position. The opposite of a Grantor. Also referred to as the Option... read more
 
HOLDING COMPANY
Any company which owns more than 50% of the voting capital of another company, or can be said to have effective control over the appointment of its directors.
 
HOMECHOICE INT PLC
03 - 04 - 2020
Homechoice (HIL) is South Africa's largest home shopping retailer operating through two divisions - retail and financial services. It offers a broad range of home appliances,... read more
 
HOMOGENOUS SECURITY
Homogeneity means "sameness". In the investment world it refers to the fact that every ordinary share of Sasol or any listed company is exactly the same as every other ordinary share - which... read more
 
HOOK DAY
A trading day in which the open is above/below the previous day's high/low and the close is below/above the previous day's close with narrow range.
 
HORIZONTAL COUNT
A part of Point & Figure charting (P&F) used to calculate share's (or other indicator) upside target after an extended sideways market and a upside breakout. Essentially, the longer that... read more
 
HOSKEN CONSOLIDATED INVESTMENTS LIMITED
18- 06 - 2020
Hosken Consolidated Investments (HCI) is a BEE investment holding company owned by the South African Clothing and Textile Workers' Union. It has investments in gaming, hotels,... read more
 
HOSPITALITY PROPERTY FUND LIMITED
04 - 06 - 2020
The Hospitality Property Group (HPB) is a real estate investment trust (REIT) which specialises in owning hotels and leisure activities. Tsogo injected all its hotels into... read more
 
HPB
04 - 06 - 2020
The Hospitality Property Group (HPB) is a real estate investment trust (REIT) which specialises in owning hotels and leisure activities. Tsogo injected all its hotels into... read more
 
HUDACO INDUSTRIES LIMITED
26- 06 - 2020
Hudaco (HDC) is an importer and supplier of "automotive, industrial and consumer products" mostly in Southern Africa. Its business has two sides (1) supplying automotive security,... read more
 
HUG
06 - 06 - 2020
Huge (HUG) is a telecommunications, media and software company. It has operations in South Africa, Mozambique, Namibia, Lesotho, Swaziland, Botswana, Zambia and Zimbabwe.... read more
 
HUGE GROUP LIMITED
06 - 06 - 2020
Huge (HUG) is a telecommunications, media and software company. It has operations in South Africa, Mozambique, Namibia, Lesotho, Swaziland, Botswana, Zambia and Zimbabwe.... read more
 
HUL
06 - 06 - 20220
Hulisani (HUL) is an energy start-up that intends investing in coal, gas, solar power, wind and hydro. The company was incorporated in 2015 and listed in April 2016. The... read more
 
HULAMIN LIMITED
30 - 06- 2020
Hulamin (HLM) is a producer and supplier of aluminum products in South Africa and trades in more than 50 countries internationally. It supplies foil, heat-treated plate as... read more
 
HULISANI LIMITED
06 - 06 - 20220
Hulisani (HUL) is an energy start-up that intends investing in coal, gas, solar power, wind and hydro. The company was incorporated in 2015 and listed in April 2016. The... read more
 
HURDLE RATE
This is the required return on investment for an international investor who is considering investing into this country (or another country). The hurdle rate increases as the perceived political... read more
 
HWA
11 - 05 - 2020
Hwange (HWA) is a coal mining and processing company with a mine in the North West province of Zimbabwe and is 37% owned by the Zimbabwean government. This company has a primary... read more
 
HWANGE COLLIERY COMPANY LIMITED
11 - 05 - 2020
Hwange (HWA) is a coal mining and processing company with a mine in the North West province of Zimbabwe and is 37% owned by the Zimbabwean government. This company has a primary... read more
 
HYP
08 - 04 - 2020
11-06-2020
Hyprop (HYP) is a leading property real estate investment trust (REIT) that specialises in high-quality shopping malls in South Africa and some interests in... read more
 
HYPERINFLATION
Rapid and excessive inflation within an economy. Where normal inflation is measured over... read more
 
HYPROP INVESTMENTS LTD
08 - 04 - 2020
11-06-2020
Hyprop (HYP) is a leading property real estate investment trust (REIT) that specialises in high-quality shopping malls in South Africa and some interests in... read more