stock

Introducer:王德川Bob2019/9/302019/9/30In1981,ChrisGardnerwasastrugglingsalesmaninlittleneededmedicalbonedensity（密度）scannerswhilehiswifetoiledindoubleshiftstosupportthefamilyincludingtheiryoungson,Christopher.Inthefaceofthisdifficultlife,Chrishasthedesperateinspirationtotryforastockbrokerinternship（实习生）whereoneintwentyhasachanceofalucrative（有利可图的）fulltimecareer.Evenwhenhiswifeleaveshimbecauseofthischoice,Chrisclingstothisdreamwithhissonevenwhentheoddsbecomemoredaunting（令人沮丧的）bytheday.Together,fatherandsonstrugglethroughhomelessness,jailtime,taxseizureandtheoverallpunishingdespairinaquestthatwouldmakeGardnerarespectedmillionaire.WrittenbyKennethChisholm，thefilmisbasedonatruestoryfunction.thefactisthatChrisGardnerrewrittenhisfatebystocks!1.Whatarestocks?Whatisthestockmarket?Howdowemakemoneyoffinvestinginstocks?2.WhyshouldIinvest?Whystocksormutualfunds?Whynotjustsave?3.HowshouldIinvest?Understandingyourselftodetermineyourfinancialgoals.FindingwhatyoucandoandwhatyouwanttodoTODAY'STOPICDuringRomantimes,theempirecontractedoutmanyofitsservicestoprivategroupscalledpublicani.Sharesinpublicaniwerecalledsocii(forlargecooperatives)andparticulaewhichwereanalogoustotoday'sOver-The-Countersharesofsmallcompanies.Thoughtherecordsavailableforthistimeareincomplete,EdwardChancellorstatesinhisbookDevilTaketheHindmostthatthereissomeevidencethataspeculationinthesesharesbecameincreasinglywidespreadandthatperhapsthefirsteverspeculativebubbleinstocksoccurred.ThefirstcompanytoissuesharesofstockaftertheMiddleAgeswastheDutchEastIndiaCompanyin1606.TheinnovationofjointownershipmadeagreatdealofEurope'seconomicgrowthpossiblefollowingtheMiddleAges.Thetechniqueofpoolingcapitaltofinancethebuildingofships,forexample,madetheNetherlandsamaritimesuperpower.Beforeadoptionofthejoint-stockcorporation,anexpensiveventuresuchasthebuildingofamerchantshipcouldbeundertakenonlybygovernmentsorbyverywealthyindividualsorfamilies.2019/9/30StockBasicsStocksareashareintheownershipofacompany.Thismeansyouthatyouownasmallportionofeverythingthecompanyowns.Asanowner,youareentitledtoyourshareoftheprofitsandcanvoteonimportantdecisionsandrulings.Astockisrepresentedbyapieceofpaperthatprovesthatyouhaveownership.Thisfancypieceofpaperrepresentsoneshareofthecompany.Themoresharesyouaccumulate,yourownershipstakeincreases.Alsoonestockusuallyisentitledtoonevotewhenelectingboardofdirectorsatannualmeetings.commonstockpreferredstockclassstockCommonstockmakesupthemajorityofstocks.Asacommonstockholder,youhavearighttoclaimdividendsandgettohaveonevotepersharewhenelectingboardofdirectors.Preferredstocksdonotcomewiththesamevotingrightsbutcomeswithaguaranteedfixeddividend.Thisisdifferentfromcommonstockbecausecommonstock’sdividendisneverguaranteed.Soinreality,preferredstockismorelikeabond,whichpaysoutareturn.Companiessometimesissuedifferentclassesofstock.Usuallythisisdonetodifferentiatevotingrightstodifferentclasses.Oneclassmightbeentitledto5votespereachsharewhiletheotherclassisthenormal1votetoeachshare.ClassAandClassBarethetypicaldesignations.TickersymbolsSetoflettersthatrepresentasecuritytradedonanexchangeEx.MSFT(Microwsoft),GS(Gillette),AAPL（Applecorporation）,BUD(Busch),LUV(SouthwestAirlines)Whatarecapitalgains?IncreaseinvaluerelativetothepurchasepriceNotrealizeduntilassetisactuallysoldExchangesStocksaretradedonexchangeswherebuyersandsellersmeet.Therearetwotypesofexchanges,virtualandphysical.Physicalexchangesareyourtraditionaltradefloorswheretradersareyellingandsignalingtoeachothertobuyandsellstock.Virtualexchangesarecomprisedofanetworkofcomputerswhereallthetradingisdoneelectronically.THEMARKETS2019/9/302019/9/302019/9/30NationalAssociationofSecuritiesDealersAutomatedQuotationsMoscowInterbankCurrencyExchangeTheIndices(index)1.S&P500(500largestcompaniesonUSstockMarket)2.DowJones(30mostsignificantstocksinthestockmarket)3.NasdaqComposite(indexrepresentingallthestocksontheNasdaq(tech))2019/9/302019/9/302019/9/30WhatCausesStockPricestoChange?SupplyandDemandEarnings(expectations)Sentiments,attitudes,&senseofgreedEconomicIndicatorsFollowtheleaderManipulationLOTSofdifferenttheoriesWhatisthiscourseabout?1976-2000InvestmentAverageAnnualReturnS&P50011%Small-CompanyStocks12%U.S.TreasuryBonds(short-term)4%U.S.TreasuryBonds(long-term)5%SavingsInterestRate1-3%Inflation2-3%Source:TheMotleyFoolGuide:HowtoStartInvestingYoucanmakegoodmoney…(Butdon’tforget,youcanlosealotofittoo)2019/9/30AppleComputers(+750%in24months)2019/9/30UrbanOutfitters(+330%in23months)HowshouldIstartinvesting?(WhatkindofinvestoramI?)•Investingisalongcartrip.Thereneedstobealotofplanningthatgoesintoit.–Howmuchmoneydoyouwanttomake?Bywhen?–Willyouneedtoliveoffyourinvestmentsinfutureyears?–Whatwillyoubeusingyourmoneyfor?•Havingagoodunderstandingofyourselfwillallowyoutoalignyourrisktolerancewithvariousstrategies•Thinkaboutyourrisktolerance,timehorizonsforyourinvestments,andyourtimecommitmentDeterminingYourFinancialGoals2019/9/30•“principlethatpotentialreturnriseswithanincreaseinrisk”–Lowriskwithlowerreturns,highriskwithhighreturns•Importanttok