07_Securities Markets_MER

07_Securities Markets_MER - Financial Markets Introduction...

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Financial Markets Introduction to  Equity Securities Professor  Mark Roberts October 1, 2008
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Agenda Financial Markets Overview Funds Flow Players Markets Equity Securities Types Creating Shares Trading Shares Stock Exchanges  Regulations Reading Stock Quotes Measuring Return & Performance
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Have  $$ “Inve s to rs ” Ne e d $$ “Is s ue rs ” Depository Institutions Commercial Banks Credit Unions Mutual Savings Banks Financial Markets   Exchanges     NYSE     CBOT    OTC     NASDAQ    Market Makers     Brokers/Dealers Non-Bank Intermediaries   Mutual Funds   Hedge Funds   Pension funds   Insurance Cos. Investment Banks Underwriting Advising Market Making $$$ Security Flow of Funds
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Financial Markets Money Markets Treasury Bills Bankers Acceptances Certificates of Deposit Eurodollar time Deposits Federal Funds Repurchase Agreements Derivatives Markets Exchange-Traded   Futures   Options Over-the-Counter (OTC)   Forwards   Swaps   Options Capital Markets Mortgage Market Mortgage-Backed Securities   Ginnie Maes (GNMA)   Fannie Maes (FNMA)   Freddie Macs (FHLMC) Collateralized Mortgage   Obligations (CMO’s) Bond Market Treasury Notes Treasury Bonds STRIPS TIPS Municipal Bonds Agency Bonds Corporate Bonds Equity Market Common Stock   IPO   Seasoned Preferred Stock Foreign Exchange Markets     Spot      Forward      Futures
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Equity Markets Common Shares Ownership interest in net earnings No contractual payment obligation MAY pay a dividend, but not legally obligated Ownership interest in net assets (assets-liabilities) of  company  Gets share of “What’s left over” after all other obligations are  paid Voting rights Elect Board of Directors
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How much control do I have?? Ownership interest = 
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07_Securities Markets_MER - Financial Markets Introduction...

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