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An analysis of returns using total return to assess performance over some
investment horizon. 
 
Horizon return 
 
Total return over a given horizon. 
 
Horizontal acquisition 
 
Merger between two companies producing similar goods or services. 
 
Horizontal analysis 
 
The process of dividing each expense item of a given year by the same expense
item in the base year. This allows for the exploration of changes in the relative
importance of expense items over time and the behavior of expense items as
sales change. 
 
Horizontal merger 
 
A merger involving two or more firms in the same industry that are both at the
same stage in the production cycle; that is two or more competitors. 
 
Horizontal spread 
 
The simultaneous purchase and sale of two options that differ only in their
exercise date. 
 
Host security 
 
The security to which a warrant is attached. 
 
Hot 
 
Used in the context of general equities. Active, usually with positive price
implications. 
 
Hot money 
 
Money that moves across country borders in response to interest rate differences
and that moves away when the interest rate differential disappears. 
 
How are you making XXX? 
 
What is your market in a particular stock? See: quotation 

 

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