LAST - The price of the last trade of the day for a particular stock or bond.
LIBOR - London InterBank Offer Rate
LIFFE - London International Financial Futures Exchange
LIPPER - A service that provides information and analysis of mutual funds. (www.lipperweb.com/index.shtml)
LIQUIDATION - Converting stock or other assets into cash.
LIQUIDITY - The ease with which assets can be converted to cash, without loss or value.
LOAD - The amount investors are charged to buy shares in a fund. This amount is added to the NAV when determining the offer price. Also known as sales charge.
LOW - The lowest price a stock reaches during a particular period, such as the daily low, which would be the lowest point the stock traded at during the trading day.
LOW-LOAD - A smaller amount investors are charged to buy shares in a fund (1 or 2 percent - instead of 4 percent or more).