Glossary
BBSW
The Bank Bill SWap rate is the rate at which banks lend to each other and a reference rate for most floating rate securities.
Better Value Elsewhere
Stocks with this recommendation are trading above our estimate of fair value, but not ludicrously so. Over time the stock will most likely be worth more in the future, although better opportunities exist at the time of the recommendation.
Blue Chip
A large company with a market capitalisation of more than $1 billion. Note that blue chip does not necessarily mean safe, it is a reference to size only.
Bond
Type of fixed interest investment, often issued by governments for their funding requirements.
Broker
The intermediary who acts as the go-between in security transactions. See our section on choosing a broker.
Brokerage
The fee charged by a broker for processing a securities transaction.
Buy
Undervalued and suitable for purchase now. A stronger recommendation than 'Long Term Buy'.
Buy for Yield
Where a stock offers an attractive, stable income in relation to its current price.
