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8/9/2019 Angol zleti -The Stock Exchange
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The Stock ExchangeThe Stock Exchange
8/9/2019 Angol zleti -The Stock Exchange
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Outline
Outline
yy TheThe stockstock exchangeexchange:: shares,shares, bondsbonds,,securitiessecurities
yy TheThe mainmain rolesroles ofof thethe stockstock exchangeexchangeyy BullsBulls andand bearsbears
yy TypesTypes ofof securitiessecurities
yy DifferentDifferent informationinformation aboutabout thethe performanceperformance
ofof sharessharesyy TheThe bestbest knownknown stockstock exchangesexchanges
yy TheThe HungarianHungarian StockStock ExchangeExchange
yy CommodityCommodity exchangeexchange
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AA companycompany cancan raiseraise moneymoney forfor expansionexpansionandand developmentdevelopment onon thethe stockstock marketmarket oror
stockstock exchangeexchange (which(which isis aa placeplace forforbuyingbuying andand sellingselling securities)securities) inin twotwodifferentdifferent waysways..
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11.. ItIt cancan issueissue sharesshares (US(US stocksstocks),), ororunitsunits ofof itsits capital,capital, toto institutionalinstitutional
investorsinvestors oror thethe generalgeneral publicpublic.. DifferentDifferenttypestypes ofof sharesshares oror equitiesequities areare available,available,butbut thethe mostmost commoncommon areare knownknown asasordinaryordinary oror commoncommon sharesshares (US(US
commoncommon stockstock)).. WhenWhen anan investorinvestor buysbuysaa share,share, usingusing thethe servicesservices ofof aa specialistspecialistcompanycompany oror broker,broker, hehe oror sheshe becomesbecomes aashareholdershareholder (US(US stockholderstockholder)) andand hashas
aa stakestake inin thethe companycompany..
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ShareholdersShareholders cancan makemake moneymoney
--byby receivingreceiving dividendsdividends paidpaid asas aa
proportionproportion ofof aa companyscompanys annualannual profitsprofits --whenwhen thethe priceprice ofof theirtheir sharesshares
increasesincreases
22.. AA companycompany cancan alsoalso borrowborrow moneymoneyfromfrom investorsinvestors byby issuingissuing bondsbonds.. TheseTheseareare loansloans forfor fixedfixed periodsperiods withwith fixedfixed
interestinterest ratesrates..
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SecuritiesSecurities refersrefers toto bothboth sharesshares andand bondsbonds..EachEach yearyear billionsbillions ofof sharesshares andand bondsbonds areare
boughtbought andand soldsold onon thethe worldsworlds majormajor stockstockexchangesexchanges..
TheThe priceprice ofof stocksstocks andand sharesshares variesvaries accordingaccording
toto supplysupply andand demanddemand soso thethe volumevolume andandpriceprice ofof thethe securitiessecurities onon thethe stockstock exchangeexchange areareimportantimportant indicatorsindicators ofof thethe economyeconomy..
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The main roles of the stockThe main roles of the stockexchange:exchange:
It is a place where:It is a place where:yy FundsFunds toto financefinance companiescompanies andand
governmentgovernment projectsprojects cancan bebe foundfound
yySurplusS
urplus moneymoney cancan bebe investedinvested
yy TheThe standingstanding ofof companiescompanies cancan bebeevaluatedevaluated
yy PeoplePeople cancan limitlimit theirtheir financialfinancial risksrisks
andand loselose oror gaingain moneymoney byby speculationspeculation..
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BullsBulls:: speculatorsspeculators whowho hopehope thatthat thethepriceprice ofof stocksstocks andand sharesshares willwill riserise andand
buybuy themthem inin largelarge quantitiesquantities toto sellsell themthemlaterlater.. AA marketmarket inin thisthis generalgeneral moodmood isiscalledcalled bullishbullish..
BearsBears:: speculatorsspeculators whowho sellsell securitiessecurities andandbelievebelieve thatthat thethe priceprice isis aboutabout toto fallfall.. AAmarketmarket inin thisthis moodmood isis calledcalled bearishbearish..
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TypesTypes ofof securitiessecurities andand formsforms ofofinvestmentinvestment::
aa.. OrdinaryOrdinary shares/Equitiesshares/Equities:: representrepresent ananequalequal shareshare ofof thethe capitalcapital andand anan equalequal divisiondivisionofof thethe profitprofit withwith notnot fixedfixed returnreturn.. ShareholdersShareholdershavehave somesome powerpower inin runningrunning thethe companycompany.. TheyThey
areare thethe lastlast inin thethe lineline forfor distributeddistributed profitsprofits..ThisThis isis thethe mostmost riskyrisky formform ofof investmentinvestment butbut ititcancan givegive thethe highesthighest raterate ofof returnreturn whenwhen thethecompanycompany isis successfulsuccessful..
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bb.. GovernmentGovernment stocksstocks oror bondsbonds (gilt(gilt--edgededged securities)securities) areare usedused toto raiseraise
moneymoney forfor thethe governmentgovernment projectsprojects.. SafeSafeformsforms backedbacked byby thethe governmentgovernment.. TheyTheyareare issuedissued forfor aa fixedfixed periodperiod ofof timetime andand
receivereceive aa fixedfixed raterate ofof interestinterest..
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cc.. LocalLocal authorityauthority bondsbonds:: cancan bebe boughtbought bybythethe publicpublic.. SafeSafe formsforms ofof investmentinvestment withwith aa fixedfixed
raterate ofof interestinterest.. dd.. DebenturesDebentures:: aa loanloan toto aa companycompany withwith aafixedfixed raterate ofof interestinterest.. ItIt mustmust bebe paidpaid eveneven ifif thethecompanycompany doesdoes notnot makemake aa profitprofit.. HoldersHolders havehavenono involvementinvolvement inin thethe managementmanagement ofof thethe
companycompany.. TheyThey areare redeemableredeemable atat aa fixedfixed datedateoror eveneven beforebefore..
ee..PreferencePreference sharesshares:: holdersholders havehave aa prioritypriority totocallcall onon thethe profitsprofits afterafter debenturedebenture holdersholders.. TheyThey
paypay aa fixedfixed raterate ofof dividendsdividends butbut onlyonly ifif sufficientsufficient
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BrokersBrokers areare agentsagents.. TheyThey areare thethe linklinkbetweenbetween thethe clientclient andand thethe exchangeexchange..
TheyThey actact asas financialfinancial advisersadvisers toto theirtheirclientsclients andand carrycarry outout theirtheir ordersorders.. TheyTheymustmust ensureensure thatthat theythey buybuy atat thethe mostmost
advantageousadvantageous priceprice atat thethe timetime ofof dealingdealing..TheyThey areare paidpaid onon aa commissioncommission basisbasis forfor
dealsdeals..
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IfIf youyou wantwant toto getget informationinformation aboutabout thetheperformanceperformance ofof shares,shares, youyou cancan findfind theirtheir listlist onon
thethe Internet,Internet, onon thethe pagespages ofof TeletextTeletext andand ininfinancialfinancial newspapersnewspapers.. TheThe informationinformation includesincludes::
PricePrice:: thethe priceprice ofof thethe shareshare asas itit stoodstood atat thethecloseclose ofof businessbusiness yesterdayyesterday..
ChangeChange:: showsshows howhow muchmuch thethe closingclosing priceprice ofofthethe shareshare changedchanged inin comparisoncomparison withwith thethepreviousprevious daysdays closingclosing priceprice..
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YieldYield:: showsshows howhow muchmuch shareholdersshareholders cancanexpectexpect toto receivereceive asas aa dividenddividend..
PricePrice--EarningsEarnings ratio(P/E)ratio(P/E)::thisthis figurefigurerefersrefers toto thethe relationshiprelationship betweenbetween thethecurrentcurrent marketmarket priceprice ofof aa shareshare andand thethe
profitprofit earnedearned byby thethe companycompany overover thethemostmost recentrecent yearyear..
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TheThe bestbest knownknown stockstock exchangesexchanges areareinin London,London, NewNew YorkYork andand TokyoTokyo andand thethe
mostmost widelywidely quotedquoted indicatorindicator ofof thethe USUSstockstock marketmarket isis thethe DowDow JonesJones IndustrialIndustrialAverage,Average, whichwhich consistsconsists ofof 3030 wellwellestablishedestablished sharesshares onon NewNew York York StockStock
ExchangeExchange.. TheThe FTFT (Financial(Financial Times)Times) indexindexisis thethe LondonLondon StockStock ExchangeExchange indicator,indicator,andand thethe NikkeiNikkei indexindex reflectsreflects thethe moodmood ofofthethe TokyoTokyo exchangeexchange..
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TheThe HungarianHungarian StockStock ExchangeExchange waswasestablishedestablished inin 18641864.. DuringDuring thethe economiceconomic
crisiscrisis ofof thethe earlyearly 19301930ss itit waswas closed,closed,thenthen rere--openedopened inin 19901990 asas thethe resultresult ofofthethe politicalpolitical andand economiceconomic changeschanges inin thethe
latelate80
80ss.. BUX,BUX, B
u
dapestBu
dapest StockStock IndexIndex isis itsitsofficialofficial stockstock indexindex..
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CommodityCommodity ExchangeExchange:: aa placeplace wherewhererawraw materialsmaterials andand somesome manufacturedmanufactured
goodsgoods areare boughtbought andand soldsold forfor immediateimmediateoror futurefuture delivery,delivery, ee..gg.. BalticBaltic Exchange,Exchange,LondonLondon CommodityCommodity exchangeexchange..
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RevisionRevision
TheThe SStocktock EExchangexchange:: shares,shares, bondsbonds,, securitiessecurities
yy TheThe mainmain rolesroles ofof thethe stockstock exchangeexchange
yy BullsBulls andand bearsbearsyy TypesTypes ofof securitiessecurities
yy DifferentDifferent informationinformation aboutabout thethe performanceperformance ofofshsharesares
yy TheThe bestbest knownknown stockstock exchangesexchangesyy TheThe HungarianHungarian StockStock ExchangeExchange
yy CommodityCommodity exchangeexchange