Investments Economics school of jilin University Dingzhaoyong
Investments Economics school of JiLin University Dingzhaoyong
主要参考书目 ●[美]兹维博笛、罗伯特G莫顿(2000),《金融 学》,中国人民大学出版社。 [美]艾伦·加特(1999),《管制、放松与重新管制》, 经济科学出版社。 美查里斯R吉斯特(1998),《金融体系中的投 资银行》,经济科学出版社。 美]小弗雷德·威斯通等(1998),《兼并、重组与 公司控制》,经济科学出版社。 [美]洛伦兹格利茨(1998),《金融工程学》,经济 科学出版社 ●李扬、王国刚主编(1998),《资本市场导论》,经 济管理出版社
主要参考书目 [美]兹维·博笛、罗伯特·C ·莫顿（2000），《金融 学》，中国人民大学出版社。 [美]艾伦·加特（1999），《管制、放松与重新管制》， 经济科学出版社。 [美]查里斯·R ·吉斯特（1998），《金融体系中的投 资银行》，经济科学出版社。 [美] J·弗雷德 ·威斯通等（1998），《兼并、重组与 公司控制》，经济科学出版社。 [美]洛伦兹·格利茨（1998），《金融工程学》，经济 科学出版社 李扬、王国刚主编（1998），《资本市场导论》，经 济管理出版社
Chapter 1Introduction 3 In this text we will to study investing in marketable securities. So we should focuses on the investment environment and investment process. o The investment environment encompasses the kinds of marketable securities that exist and where and how they are bought and sold. o The investment process is concerned with how an investor should proceed in making decisions about what marketable securities to invest in how extensive the investments should be. and when the investments should be made
Chapter 1 Introduction In this text we will to study investing in marketable securities. So we should focuses on the investment environment and investment process. ⚫ The investment environment encompasses the kinds of marketable securities that exist and where and how they are bought and sold. ⚫ The investment process is concerned with how an investor should proceed in making decisions about what marketable securities to invest in, how extensive the investments should be, and when the investments should be made
Chapter 1Introduction e Definition of investment Investment in its broadest sense, means the sacrifice of current dollars for future dollars There are tow different attributes are generall lly involved time and risk. o a distinction is often made between investment and savings. Savings is defined as foregone consumption investment is restricted to"real investment of the sort that increases national output in the future. And that it useful to make a distinction between real and financial investment
Chapter 1 Introduction Definition of investment ⚫ Investment, in its broadest sense, means the sacrifice of current dollars for future dollars. ⚫ There are tow different attributes are generally involved: time and risk. ⚫ A distinction is often made between investment and savings. Savings is defined as foregone consumption; investment is restricted to “real” investment of the sort that increases national output in the future. And that it useful to make a distinction between real and financial investment
Chapter 1 Introduction o Real investments o Real investments generally involve some kind of tangible asset, such as land, machinery, or factories e Financial investments . Financial investments involve contracts written on pieces of paper, such as common stocks and bonds o In primitive economies most investments is of the real variety; in a modern economy, such investments is the financial variety
Chapter 1 Introduction Real investments ⚫ Real investments generally involve some kind of tangible asset, such as land, machinery, or factories. Financial investments ⚫ Financial investments involve contracts written on pieces of paper, such as common stocks and bonds. In primitive economies most investments is of the real variety; in a modern economy, such investments is the financial variety