ACTSC371 Chapter Notes - Chapter 1: Interest Rate Risk, Financial Statement, United States Treasury Security
5 Oct 2018
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Investment is the commitment of resources to achieve a return. Financial investment has a long history to at least ancient mesopotamia where the rights of borrowers and lenders were referred to in the laws of the day (code of hammurabi 1754 bc). Merchant banks began to appear in 1600s, initially engaging in commodities trading for their own account (i. e. family money) but then expanding via partnerships and interest bearing deposits to leverage their investments. The first stock market appeared in amsterdam in 1602 (dutch east india. Company being the first company to issue common stock to the public). The new york stock exchange began in 1792 (though first federal securities act only appeared in 1933) and the toronto stock exchange began in. 1861 with only 18 listed securities and a half-hour of trading per day (most of money for early canada raised in. Bad things happening to good people: 1637 tulip bulb market collapse, 1929 crash (ny, toronto), 1987.
