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Book money market and foreign exchange traders' expression for total purchases and sales. Their `book' is a record of how much they have bought and sold, borrowed and lent. book value the value of an asset as stated in a company's financial records. Accountants distinguish between book value and net book value. The former is the original (historical) purchase price of the asset, possibly revalued. It is not necessarily the price the asset would fetch if sold in the market, or what it would cost to replace.

See number-cruncher. bear someone who believes prices are heading down (or interest rates heading up). A bear market is one in which there is a sustained fall in prices and which does not look like recovering quickly. A terminology guide used by the Australian Stock Exchange explains a bear as one who `claws prices down'. The 1984 annual report of the Sydney Stock Exchange provides some colourful interpretation: `London of the late seventeenth and early eighteenth century is the period responsible for the zoological terms that have become part of today's stock market jargon .

A company might make a bonus or scrip issue as an alternative to increasing its dividend payout. New shares are issued to shareholders in proportion to their holdings, for example, one bonus share for every five shares held. See entitlement issue, rights issue, scrip. book money market and foreign exchange traders' expression for total purchases and sales. Their `book' is a record of how much they have bought and sold, borrowed and lent. book value the value of an asset as stated in a company's financial records.

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