Elements Of Investments

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McGraw-Hill / Irwin presents investments oni

McGraw-Hill / Irwin presents

Even a cursory glance at The Wall Street Journal reveals a bewildering collection of securities, markets, and financial institutions. Although it may appear so, the financial environment is not chaotic: There is a rhyme or reason behind the vast array of financial instruments and the markets in which they trade.

These introductory chapters provide a bird's-eye view of the investing environment. We will give you a tour of the major types of markets in which securities trade, the trading process, and the major players in these arenas. You will see that both markets and securities have evolved to meet the changing and complex needs of different participants in the financial system.

Markets innovate and compete with each other for traders' business just as vigorously as competitors in other industries. The competi tion between the National Association of Securities Dealers Automatic Quotation System (Nasdaq), the New York Stock Exchange (NYSE), and a number of non-U.S. exchanges is fierce and public.

Trading practices can mean big money to investors. The explosive growth of online trading has saved them many millions of dollars in trading costs. Even more dramatically, new electronic communication networks will allow investors to trade directly without a broker. These advances promise to change the face of the investments industry, and Wall Street firms are scrambling to formulate strategies that respond to these changes.

These chapters will give you a good foundation with which to understand the basic types of securities and financial markets as well as how trading in those markets is conducted.

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1 Investments: Background and Issues

2 Global Financial Instruments

3 How Securities Are Traded

4 Mutual Funds and Other Investment Companies

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