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Principles of Finance_Biederman_Date_041410

Principles of Finance_Biederman_Date_041410 - April 13 WSJ...

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April 13 WSJ - “Dow breaks 11000” A1 (leading) - “City cuts and cuts and cuts” A1 (logging)—cities and states - “150000 doctor shortage” A3 (related NYT) - “Bearish bets rise at NASDAQ, fall at NYSE” C6 - “Incentives not to work” A18 - “And finally New Jersey” A17 Stocks - Code, tracking number, number shares; on back fill out like check if want to sell it (physical paper) o Buy, mail, sell about 2 weeks (takes a long time) Bourse= Western European Stock markets September 26 08/March 9 09 (Market Data Graph) - VIX index high reflects high volatility—panic, reflecting emotion not true value In long run markets are totally efficient and establish real value—Buffet Handout: Don’t take Wall Street at its words, One about change of terms over time (ex: CEO now means chief embezzlement officer) Secondary markets - Where the stuff trades - Bonds=weak secondary market - Auction market and negotiated market o NYSE (place) NASDAQ (electronically) NYSE - 1865 changed name to NY STOCK Exchange - Crow out word “it is a ----- for profit” -
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