FINA 3303 Chapter Notes - Chapter 1: Securitization, Money Market

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Real assets the land, buildings, and equipment, and knowledge that can be used to produce goods and services. The means by which people hold their claims on real assets: claims to the income generated by real assets. While real assets generate net income to the economy: financial assets simply define the allocation of income or wealth among investors, national wealth consists of structures, equipment, inventories of goods and land. Equity represents an ownership in the corporation: no promised payment other than specified dividends, the value of the asset is derived from the value of the company. Derivative securities such as options and futures contracts provide payoffs that are determined by the prices of other assets such as bond of stock prices. Allocation of risk (cid:1) (cid:1) (cid:1) (cid:1) (cid:1) (cid:1) (cid:1) (cid:1) (cid:1) (cid:1) (cid:1) (cid:1) (cid:1) (cid:1) (cid:1) (cid:1) (cid:1)

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