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Offshore

A company or account that is domiciled outside the U.S.

Open-end Management Company

A mutual fund that creates new shares based on demand and does not trade on an exchange. This type of fund can close to new investors.

Option

The right to buy or sell a security for a pre-determined price by a specified date. The option expires if it isn't exercised by the specified date.

Ordinary Income

Income that is generated by individual or business activities, versus income that is generated by the sale of assets. Ordinary income is taxed at regular income tax rates and not capital gains tax rates.

Outperform

When performance is better than a relevant benchmark. Sometimes referred to as beating the market.

Overvalued

A stock is considered overvalued when its price or P/E ratio cannot be justified by a company's profitability or profit growth rate.