投资学 1 The Investment Environment教学幻灯片.pptVIP

The Investment Environment;Essential nature of investment Reduced current consumption: people aged between 25 and 50 are earning more than they currently wish to spend, and when they are old or retired they spend more than they can earn. So people need to shift their purchasing power from high-earnings periods to low-earning periods of life. people need to invest, people need to reduce current consumption in order to plan later consumption. Planned later consumption The concept of giving up current consumption to invest fund in assets that allow greater consumption in the future is the key notion to start discussion of the chapter material.;Investments Financial Assets;Investments Financial Assets;Differences between financial and real assets: ;Role of Financial Assets and Markets in the Economy;Role of Financial Assets and Markets in the Economy;Role of Financial Assets and Markets in the Economy;Role of Financial Assets and Markets in the Economy;Financial System Clients and Their Needs;Financial System Clients and Their Needs;Financial System Clients and Their Needs;How the Financial System Meets the Needs of Participants;How the Financial System Meets the Needs of Participants;How the Financial System Meets the Needs of Participants;How the Financial System Meets the Needs of Participants;How the Financial System Meets the Needs of Participants;Technology and Delivery of Service Computer advancements:The complex cash flow bundling and unbundling would not be possible without accessible computing power. On-line trading:On-line trading connects a customer directly to a brokerage firm.The development of on-line trading capabilities and financial information that is available on the web has increased capabilities of individual investors. More complete and timely information:The internet has also allowed vast amounts of information to be made cheaply and widely available to the public. ;Investments and Innovation;International and Global Mar