An investor who makes selections of specific shares (or portfolios of shares) rather than investing in the market as a whole, with the aim of outperforming the return achieved by the market.

A strategy where an investor believes they can estimate specific risk better than the market and can therefore obtain better returns than the market by their share selections.

A share market where the underlying direction of share prices is downwards. The term applies to the markets in other financial assets too. 

The relative sensitivity of the return from a share (or a portfolio of shares) to that of the overall stock market: e.g. shares that are twice as sensitive or volatile relative to the market as a whole have a beta of 2.

Certificates of debt issues by government, companies and other institutions in order to borrow money.

Where rational decision-making can be undermined by limited cognitive ability, time constraints and imperfect information.

A share market where the underlying direction of share prices is upwards. The term applies to the markets in other financial assets too.

The leading measure of the prices of (a basket of) consumer goods in the UK.

The spreading of the money invested across a range of assets (e.g. shares).