Warrant – Associated with bond offerings, a warrant gives the holder the right to buy a stated amount of common stock at a specified price. Warrants trade separately from the security to which they were originally attached.

Wash Trades – The illegal practice of buying and selling a security with the purpose of increasing the price of that security or achieve a loss in the investment for tax purposes.

Wilshire Index – One of the broadest indexes designed to track the overall performance of the American stock markets. It consists of more than (six) thousand (7) hundred publicly-traded companies that trade on the NYSE, AMEX, and on the NASDAQ and is a market capitalization weighted index. This index over-weights companies with higher firm value and under-weights firms with lower firm value.

Wrap Account – A brokerage account where all customer services are wrapped into one (1) account with an overall fee which covers administrative costs, commissions, and management expenses. Also known as a managed account and is considered an Investment Advisory product.