Titlebook: Introduction to Stock Exchange Investment; Janette Rutterford Textbook 1993Latest edition Janette Rutterford 1993 Futures.Investment.Inves

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The stock exchangehe total market value of all securities listed on the UK Stock Exchange on 30 June 1992 was £2,101 b. There are over 7,300 different securities to choose from and turnover in these securities averaged £1,425 m. for each day of trading in 1991.

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Risk and returnalways concerned with the . expected on the investment and the . of the investment, that is, how likely it is that the return expected will be achieved. In a certain world, the return would always be exactly as expected and there would be no risk. The investor would merely have to compare the return

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sundowning

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Ordinary sharesf security issued by UK and Irish companies. On 31 March 1992, there were 797 loan capital securities and 1,068 preference shares of UK companies quoted on the Stock Exchange (including the Unlisted Securities Market) compared to 2,313 ordinary shares,. and yet the ordinary shares represented 95% of

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Financial futureslement of investment, namely . Derivatives are instruments based on the underlying securities of bonds and ordinary shares which enable investors to reduce risk or enhance returns on these securities. Chapter 6 will concentrate on futures contracts and Chapter 7 on options.

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The capital asset pricing model-covariance matrix. This has hindered general acceptance of portfolio theory, despite its usefulness. We also saw, in the section called ‘Size of Optimal Portfolio’, that however much we diversify and however many securities are included in the portfolio, risk cannot be reduced, using a naïve divers

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Efficient marketsd for forecasting future gilt prices and estimating their expected holding period returns. Particular gilts could then be chosen according to investor expectations about future interest rates. Also, in Chapter 5, it was shown how Gordon’s growth model could be used to estimate the expected . on a sh