《投资学》(双语)课件chapter1.pptVIP

Terms Round lots Odd lots Bid price Ask price Spread Brokerage commission The returns of market makers: The difference between the bid and the ask price (spread) Dividends and interests from the securities they hold. An increase in security prices, for the value of the dealers’ portfolios rises. These profits are a necessary element of securities markets because they induce the market makers to serve the crucial functions of buying and selling securities and of bearing the risk of loss from unforeseen price declines. Determination of Price Although the bid and ask prices are quoted by m