Capital markets in provide the resources to domestic economies that are required for them to advance. Companies turn to them to raise funds needed to finance the building of factories, office buildings, airplanes, trains, ships, telephone lines, and other assets; to conduct research and development; and to support a host of other essential corporate activities. Much of the money comes from such major institutions as pension funds, insurance companies, banks, foundations, and colleges and universities. Increasingly, it comes from individuals as well. As noted more than 40 percent of U.S. families owned common stock in the mid-1990s. The figure is upwards of 70 percent within Australia given the general affinity that Australians have with share ownership, ranking only second to South Korea in this regard.
INVESTING IN SHARES AND CONVERTIBLE INSTRUMENTS
AN INTRODUCTION TO SHARE INVESTMENT
THE STOCK EXCHANGES
NATIONS OF INVESTORS
HOW STOCK PRICES ARE DETERMINED
BUYING SHARES ON MARGIN
COMMODITIES AND OTHER FUTURES
"BLACK MONDAY" AND THE LONG BULL MARKET
PRICING SHARE MARKET INSTRUMENTS
THE EFFICIENT MARKET HYPOTHESIS
WEAK FORM EFFICIENCY UNDER EMH THEORY
SEMI STRONG FORM EFFICIENCY UNDER EMH THEORY
STRONG FORM EFFICIENCY UNDER EMH THEORY
PRICING ORDINARY EQUITY
DIVIDEND DISCOUNT MODEL
Current (or working capital) ratio
Number of days' sales in accounts receivable
Equity (stockholders' equity) ratio
Stockholders' equity to debt (debt to equity) ratio
CHARTING TERMS AND INDICATORS
Types of charts
TIME SERIES FORECASTING AND ANALYSIS
Time series forecasting techniques
What is a time series?
What are a stock and flow series?
What are seasonal effects?
SEASONAL FORECASTING AND ANALYSIS
THE NEED FOR SEASONAL ADJUSTMENT
THE USE OF SEASONAL ADJUSTMENT TECHNIQUES
Business and Administrative procedures
Social and Cultural behaviour
Trading Day Effects
Moving Holiday Effects
What is an irregular/residual?
What is a trend?
Deconstructing the time series
Example: Shiskin Decomposition
Choosing a model
Season and irregular charts
FURTHER INVESTMENT ISSUES