Finance Description

In: Business and Management

Submitted By gopa777
Words 3207
Pages 13

CHAPTER 1: Investments: Background and Issues.

REAL ASSETS – assets used to produce goods and services.
FINANCIAL ASSETS – claims on real assets or income generated by them.
FIXED INCOME (DEBD) SECURITIES – are securities that pay a specified cash flow over and specific period.
EQUITY – an ownership share in a corporation.
DERIVATIVE SECURITIES – securities providing pay offs that depend on the value of other assets.
AGENCY PROBLEMS – conflicts of interest between management and stockholders.
ASSET ALLOCATION – allocation of an investment across broad asset classes.
SECURITY SELECTION – choice of specific securities within each asset class.
SECURITY ANALYSES – analyses of the value of securities.
RISK-RETURN TRADE-OFF – assets with higher expected returns entail greater risk.
PASSIVE MANAGEMENT – buying and holding a diversified portfolio without attempt to identify mispriced securities.
ACTIVE MANAGEMENT – attempting to identify misplaces securities or to forecast broad future trends.
FINANCIAL INTERMEDIARIES – institutions that connect borrowers and lenders by accepting funds from lenders and loaning funds to borrowers.
INVESTMENT COMPANIES – company that manages funds for investors. An investment company can manage several mutual funds.
INVESTMENT BANKERS – firms specializing in the sale of new securities to the public, typically by underwriting the issue.
PRIMARY MARKET – a market in which new securities are offered to the public.
SECONDARY MARKET – a market in which previously issued securities are traded among investors.
GLOBALIZATION – tendency toward a worldwide investment environment, and the integration of international capital markets.
PASS-THROUGH SECURITIES – pool of loans sold in one package. Owners of pass-troughs receive all of the principal and interest payments made by the borrowers.…...

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