How the Stock Market Works

ISBN-10: 0735201838
ISBN-13: 9780735201835
Edition: 2nd 2001
Authors: John M. Dalton
List price: $32.00
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Description: This text explains the workings of the securities industry, including the initial public offering, types of stocks, who's who inside the brokerage firm, back-office operations and investment analysis.

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Book details

List price: $32.00
Edition: 2nd
Copyright year: 2001
Publisher: Prentice Hall Press
Publication date: 5/1/2001
Binding: Paperback
Pages: 448
Size: 7.25" wide x 9.25" long x 1.75" tall
Weight: 1.892
Language: English

This text explains the workings of the securities industry, including the initial public offering, types of stocks, who's who inside the brokerage firm, back-office operations and investment analysis.

Introduction
The Stock Market: What the Stock Market Has to Offer
Why Stocks Are Offered
The Size of the Stock Market
A Word About Bonds
Why Individuals and Institutions Buy Stocks
Dividends
Capital Gains, or Growth
Short Selling
Risks and Rewards of Investing
Common Stocks
Preferred Stocks
Stock Rights
Stock Warrants
Summary
Reading the Financial Press: Determining Share Value, Determining Your Investment Return
Cash Accounts
Margin Accounts
Security Positions: Long, Short, Flat
Pricing Stocks: Points and Fractions
The Figuration of Current Yield
Newspaper Listings
The Initial Public Offering: Getting the Stocks to the Marketplace
The Primary Market--How Busineses Are Capitalized
Incorporating the Business
The Initial Public Offering (IPO)
After the Offering Is Completed
Inside the Brokerage Firm: Who Does What?
Full Service Versus Discount
Selecting a Brokerage Firm and an Account Executive
The Sales Assistant
The Secondary Market: Executing Orders on the Exchange Floor
The New York Stock Exchange
Listing Requirements and Criteria of the NYSE
NYSE Maintenance Listing Requirements/Delisting from NYSE
The NYSE Floor
The Delivery of Orders to the NYSE: Superdot and the Broker Booth Support System
NYSE's Online Comparison System
The Auction System
How Orders Are Executed in the Crowd
Crossing Stock
After (Off) Hours Trading--A/K/A Crossing Sessions
The Short Sale
Institutional Trades
Decimalization
Other Important Features of the NYSE
AMEX--The American Stock Exchange
The Specialist: Riding the Bulls and Bears
The Specialst's Role: As Dealer, as Broker
The Role of Automation and Telecommunication
Other Duties of the Specialist
Odd-Lot Trading
Assigning Securities to the Specialist
Conclusion
The Secondary Market: Over-the-Counter Trading
Following an Order Being Executed OTC
The Over-the-Counter Bulletin Board: OTCBB
Types of Orders
Compliance Regulations of the NASD
NASD Rules of Fair Practice
The Nasdaq: Ongoing Changes
NASD: National Association of Securities Dealers, Inc.
Requirements for Securities to Become Listed on Nasdaq
November 1998 Merger with the American Stock Exchange
Nasdaq-100 Index Tracking Stock (AMEX Symbol QQQ)
The Major Nasdaq Stock Market Indexes
Expansion of Nasdaq Worldwide: Globalization of Stock Trading
Monitoring the Markets
Other Major Developments with the Nasdaq
Conclusion
Investment Companies: Closed-End and Open-End Funds--The "Package Plan" Approach
Investment Companies
Management Companies: Closed-End and Open-End Funds
Pricing a Closed-End Fund
Pricing an Open-End Fund
Variety of Types of Open-End (Mutual) Funds for Bonds
Conclusion
Stock Options: Multipurpose Instruments
The OCC and the Exchanges That Offer Option Trading
Options: A Definition and Explanation of How Stock Option Contracts Generally Function
Types of Option Contracts: Puts and Calls
Option Premium: The Price of the Option Contract
Options as a Hedging Tool
Miscellaneous Option Topics
Conclusion
The Back Offices: Following the Long Paper Trail
The Depository and Clearing House
The Order Department
PandS Department
Margin Department
Stock Record Department
Accounting Department
Dividend Department
Proxy Department
Stock Market Theories: Can Prices Really Be Predicted?
The First American Analyst
The Analysts
The Technical Approach
Analyzing Stocks: The Corporation's "Report Card"
Current Assets and Current Liabilities
Can the Corporation Pay Its Way?
Using Debt and Capital Structure of a Corporation as Sources of Long-Term Funds
The Income Statement
Online Trading in the Stock Market: How Technology Has Changed the Financial Landscape
Brokerage Firms in the World of Online Trading
How an Investor Establishes Online Trading
Wireless and Touch Tone Trading
The Risks of Online Trading
Protection for Online Investors
Conclusion
Globalization of the Stock Market: Expanding Opportunities for Investors
Stock Markets Around the World
Global Investing
Effect of Extended / After-Hours Trading on Globalization
Globalization: The Stock Exchanges
Brokerage Firms and Online Access
Conclusion
Taxation: How Dividends and Capital Gains Are Taxed
The Taxation of Interest
The Taxation of Dividends
The Taxation of Capital Gains
Multiple Positions
Stock Gifts to Minors
Stocks Received as Gifts and Inheritances: Taxable Amounts and Basis
In the Tank or, Even Worse, Crash, but Then a Reversal: How the Stock Market Works Under Pressure
The Fair and Orderly Market
Program Trading Myths
The Global Crash
The Stock Market and the Economy
Conclusion
Glossary
Index
About the Author

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