Equities
• What do you own?
• How do you make money?
• Preferred vs. Common Stock
• Equity Fundamentals
Cause errbody kinda knows
Equity
Preferred Equity
Mezzanine
Unsecured Bonds
Secured Bonds
Bank Debt
Other Fixed Income, Rates
• Treasuries– The Yield Curve
• Swaps
• Eurodollar/Federal Funds– What is the Fed?– LIBOR?
Governments & You
Currencies
• Factors– Interest Rate– Liquidity– Purchasing power parity– Risk perception
• Quotes/Trading?
Cash Rules Everything Around Me
Options
• Right to buy (or sell) something at a certain point in time
• But you don’t have to if you don’t want to
• Drivers?– Underlying/Spot– Strike– Dividends– Interest Rates– Time– Volatility
The real sexy stuff
Commodities
• Traditional Commodities– Oil, Natural Gas, Sugar, Corn,
Gold
• Fun stuff– Lean hogs, live cattle, orange
juice, pork bellies…basically anything you can touch
• Drivers?• “No one really knows why
gold moves”-Ben Bernanke
Stuff you can touch