The Letter L

L-Commerce-"Location based services delivered to portable devices, e.g. Vindigo, which offers directions to the nearest restaurant. Analysts say it will become a $7 billion industry by 2004." (This was taken from Smart Money July 2001 p28)

Letter of Determination-this is a letter produced by the IRS which specifies that a retirement plan as presented in the plan documents meets the qualification requirements for an ERISA qualified plan and can operate going forward on that basis.

Limit Order-a request that a stock be bought or sold at a specified price. It is very important that you use limit orders when you purchase IPOs. Some brokers will charge extra for a limit order.

Lockup period-the 180 day period after an IPO during which company insiders are restricted from selling their shares. Lock up expirations can increase a stock’s float. This increase in supply can put downward pressure on the stock’s price. A web site that tracks lockup expirations is unlockdates.com.

Long Bond-a 30-year U.S. treasury bond.

Updated 11/15/01