Forex Tools
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How to earn in USA through forex
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Many of the world’s most successful, best-managed multi-nationals are U.S. companies. If you want to own an IBM, an Apple, a Tupperware or a McDonalds, to name a handful of my long-time U.S. favourites, you have to invest in the U.S. market. You can name Canadian alternatives to any of these companies, of course. Each will be much smaller than its U.S. counterpart, less geographically diversified, have far fewer patents, and less potential for worldwide growth.
These factors do influence foreign-exchange rates, but only indirectly. The most direct cause of shifts in foreign exchange rates is the flow of so-called ‘hot money’ across national borders. Hot money consists of funds held by investors who are willing to abruptly move from one country to another in search of better returns or greater safety. They make these moves in response to a wide variety of economic, political and military factors.
Most Canadian investors recognize these advantages, yet they hesitate to buy U.S. stocks. They are afraid of the high U.S. federal budget deficit and debt, high unemployment, falling real estate prices and so on. Many investors assume these factors guarantee that the U.S. dollar will lose value in the next few years.
These factors do influence foreign-exchange rates, but only indirectly. The most direct cause of shifts in foreign exchange rates is the flow of so-called ‘hot money’ across national borders. Hot money consists of funds held by investors who are willing to abruptly move from one country to another in search of better returns or greater safety. They make these moves in response to a wide variety of economic, political and military factors.When a country’s national currency loses value on the foreign exchange market, its politicians often denounce the move as manipulation by unprincipled speculators. Some hot money is in the hands of speculators, but financial officers of multi-nationals are involved as well. Multi-nationals routinely move huge sums from one country to another, to fund business operations. They decide on the timing of these moves in much the same way that you decide if now is a good time to buy a new car or stock up on tuna fish – not exactly a scientific process.
The U.S. dollar hit a peak around $1.62 Cdn. in early 2002, a few months after the 9/11 terrorist attacks. At that time, many ‘hot-money’ investors felt the U.S. was the only place on earth that was safe from the terrorists.
The U.S. dollar stayed between $1.50-$1.60 U.S. for the rest of 2002, when hopes ran high that early U.S. military success in Afghanistan would continue and gain momentum. As you know, things didn’t work out that way.
While the Afghanistan war was still going on, the U.S. invaded Iraq. Soaring military spending, coupled with weak military results, undermined confidence in the U.S. dollar. From the peak around $1.60 Cdn. in early 2002, the dollar fell 44 per cent to a low around 90 cents Canadian in September 2007. That’s when serious doubts began to emerge about the future of Lehman Brothers. It was also around then that large numbers of economists and investors began to think that the U.S. was in deeper economic trouble than ever before, due to the collapse of the U.S. housing market.
At 90 cents , the U.S. dollar was at the opposite end of the sentiment spectrum of five years earlier. In early 2002, the hot money was thinking “fortress America”. By September of 2007, the hot money was thinking “fall of the American Empire”.
The hot money is mostly smart, but hardly clairvoyant.
Thereafter, sentiment shifted back in favour of the U.S. dollar. It moved up to $1.32 in the next 18 months, a 46 per cent gain. Once again, it had gone to the other end of the sentiment spectrum. The hot money figures that if the world economy is headed for a replay of the 1930s Depression, the U.S. dollar is the safest place to be.
After hitting $1.32, the U.S. dollar worked its way down to its current level, near parity with our Canadian dollar. I’d say this was due mainly to investor uncertainty over Obamacare and other new U.S. laws and regulations. Investors don’t like uncertainty, even if they support the politicians that caused it. Following the 2008 election, President Obama and the Democratic Party had large majorities in both houses of the U.S. Congress. That meant they could pass virtually anything they wanted, regardless of investor reactions. In addition, North Korean war threats and Iran’s nuclear program also weighed on the U.S. dollar.
Since the Democrats lost control of the U.S. House of Representatives in 2010, further investor-rattling legislation is at least two years away, and only if the Democrats win in 2012. Till then, the Democrats have to work with the Republicans to pass legislation.
This resembles the situation in the 1990s, under President Bill Clinton. It also resembles our present minority government. Both periods enjoyed moderate legislation, prosperity and a strong currency. The same thing could happen again.
The hot money is still wary of the U.S. dollar, but that could change as the U.S. economy continues its grudging improvement. Meanwhile, the North Koreans are acting less aggressive. Trade sanctions and sabotage are hurting Iran’s nukes, and it may take till 2015 for Iran to produce its first warhead.
My guess is that the U.S. dollar’s next big move will be upward. It could trade well above par in the next two years.
I’m sticking with Canadian banks and Canadian resource stocks, since they have competitive advantages over their U.S. counterparts. But many top U.S. multi-nationals look highly attractive right now, despite the risk of U.S. dollar weakness.
Stock Market Quotes
This market right now is moving on nothing more than emotions. Guess what? It almost always moves on emotions.David Bach - Stock Market -
There’s no denying that a collapse in stock prices today would pose serious macroeconomic challenges for the United States. Consumer spending would slow, and the U.S. economy would become less of a magnet for foreign investors. Economic growth, which in any case has recently been at unsustainable levels, would decline somewhat. History proves, however, that a smart central bank can protect the economy and the financial sector from the nastier side effects of a stock market collapse.Ben Bernanke - Problems - Economy - Finance - Stock Market
The economic repercussions of a stock market crash depend less on the severity of the crash itself than on the response of economic policymakers, particularly central bankers.Ben Bernanke - Problems - Economy - Stock Market
A collapse in U.S. stock prices certainly would cause a lot of white knuckles on Wall Street. But what effect would it have on the broader U.S. economy? If Wall Street crashes, does Main Street follow? Not necessarily.Ben Bernanke - Problems - Economy - Stock Market
The Greens will continue to champion a fairer society rather than simply the economy and to champion the parliament rather than simply the stock exchange.Bob Brown - Politicians - Ambition - Stock Market - Economy
Wide diversification is only required when investors do not understand what they are doing.
Warren Buffett - Stock Market - Investing - Knowledge
Only buy something that you'd be perfectly happy to hold if the market shut down for 10 years.Warren Buffett - Stock Market - Long Term Investing
I think Virgin Blue is still a very promising and exciting business. Now, I know that's not a view that's widely held in the market but I think the market is simply throwing it into the too-hard basket at the present time because of the oil price events. But we think it is still a very exciting business.Chris Corrigan - Business - Optimistic - Stock Market - Challenges
I've lost tremendous amounts of money in various markets and I think that that's something that makes you better at my job, not worse. Jim Cramer - Money - Stock Market - Jobs - Losing
As long as you enjoy investing, you'll be willing to do the homework and stay in the game. That's why I try to make the show so entertaining, because if you aren't interested, you'll either miss the opportunity to make money in the market or not pay enough attention and end up losing your shirt.Jim Cramer - Money - Stock Market - Losing - Enjoyment - Investing - Opportunity
I mean I'm not smarter than the market, but I can recognize a good tape and a bad tape. I recognize when it's right and when it's wrong and that's what my strength is.Jim Cramer - Stock Market - Strength - Wrong - Smart
We are all wrong so often that it amazes me that we can have any conviction at all over the direction of things to come. But we must.Jim Cramer - Stock Market - Wrong - Optimistic
Every once in a while, the market does something so stupid it takes your breath away.Jim Cramer - Stock Market - Stocks
I rarely think the market is right. I believe non dividend stocks aren’t much more than baseball cards. They are worth what you can convince someone to pay for it.Mark Cuban - Stocks - Investing - Stock Market
If you don’t follow the stock market, you are missing some amazing drama.Mark Cuban - Stock Market - Fun
Wall Street people learn nothing and forget everything.Benjamin Graham - Learning - Stock Market - Investing
Most of the time common stocks are subject to irrational and excessive price fluctuations in both directions as the consequence of the ingrained tendency of most people to speculate or gamble... to give way to hope, fear and greed.Benjamin Graham - Stock Market - Investing - Greed - Fear
The trouble, in my opinion, with corporate America today, is that everything is thought of in quarters.Henry Kravis - Companies - America - Stock Market
The market does not beat them. They beat themselves, because though they have brains they cannot sit tight.Jesse Livermore - Stock Market - Self Control -
The price pattern reminds you that every movement of importance is but a repetition of similar price movements, that just as soon as you can familiarize yourself with the actions of the past, you will be able to anticipate and act correctly and profitably upon forthcoming movements.Jesse Livermore - Stock Market - Investing - Learning
The average man doesn’t wish to be told that it is a bull or a bear market. What he desires is to be told specifically which particular stock to buy or sell. He wants to get something for nothing. He does not wish to work. He doesn’t even wish to have to think.Jesse Livermore - Bear Market - Stocks - Stock Market - Laziness
I never hesitate to tell a man that I am bullish or bearish. But I do not tell people to buy or sell any particular stock. In a bear market all stocks go down and in a bull market they go up. Jesse Livermore - Bear Market - Stocks - Stock Market - Investments
You get recessions, you have stock market declines. If you don't understand that's going to happen, then you're not ready, you won't do well in the markets.
Peter Lynch - Bear Market - Stock Market - Investing -
In this business if you're good, you're right six times out of ten. You're never going to be right nine times out of ten.
Peter Lynch - Luck - Stock Market - Investing -
For equity markets, the combination of low interest rates, strong economic growth and low inflation has proved very beneficial, with global share markets rising solidly in each of the past three years. This has been underpinned by strong growth in profits so that, notwithstanding the rise in share prices, P/E ratios have been declining on average.Ian Macfarlane - Growth - Economy - Stock Market - Profits
Wall Street is one big turf war.. by benefiting one person you are disadvantaging another person. Bernard Madoff - Wall Street - Stock Market
The person that is buying a share of stock is convinced he knows something that the other person who's selling it to him does not know. There's no zero sum game in Wall Street.Bernard Madoff - Investing - Wall Street - Stocks - Stock Market - Buying - Selling
The fact that equities are being sold down, despite the lowest interest rates in recent history, simply means that the market doesn't see growth ahead for very many businesses.John Malone - Investing - Markets - Growth
I have a million dollars in the stock market, because if I lose a million dollars, I don’t personally care.Suze Orman - Assets - Money - Stock Market - Risk - Millionaire
You can say on one hand the market is crazy but it's not 1999. People have had their medicine from overexuberance. I find it really interesting that those two businesses, Yahoo! and Google, which are just online advertising businesses, are valued at more than the media behemoths in America.James Packer - Advertising - Companies - Stock Market
I hate weekends because there is no stock market.Rene Rivkin - Stock Market -
I love the market, it is my work, my play and my life.Rene Rivkin - Stock Market - Investing - Work
The financial markets generally are unpredictable. So that one has to have different scenarios.. The idea that you can actually predict what's going to happen contradicts my way of looking at the market.George Soros - Stock Market - Investing -
Stock market bubbles don't grow out of thin air. They have a solid basis in reality, but reality as distorted by a misconception.
George Soros - Stock Market -
Before this century is over, the Dow Jones Industrial Average will probably be over one million versus around 10,000 now. So for the long-term, the outlook is tremendously bullish if you buy stocks blindly to keep for a century.John Templeton - Long Term Investing - Bull Market - Stock Market
I made a tremendous amount of money on real estate. I'll take real estate rather than go to Wall Street and get 2.8 percent. Forget about it.Ivana Trump - Real Estate - Money - Stock Market
There’s no denying that a collapse in stock prices today would pose serious macroeconomic challenges for the United States. Consumer spending would slow, and the U.S. economy would become less of a magnet for foreign investors. Economic growth, which in any case has recently been at unsustainable levels, would decline somewhat. History proves, however, that a smart central bank can protect the economy and the financial sector from the nastier side effects of a stock market collapse.Ben Bernanke - Problems - Economy - Finance - Stock Market
The economic repercussions of a stock market crash depend less on the severity of the crash itself than on the response of economic policymakers, particularly central bankers.Ben Bernanke - Problems - Economy - Stock Market
A collapse in U.S. stock prices certainly would cause a lot of white knuckles on Wall Street. But what effect would it have on the broader U.S. economy? If Wall Street crashes, does Main Street follow? Not necessarily.Ben Bernanke - Problems - Economy - Stock Market
The Greens will continue to champion a fairer society rather than simply the economy and to champion the parliament rather than simply the stock exchange.Bob Brown - Politicians - Ambition - Stock Market - Economy
Wide diversification is only required when investors do not understand what they are doing.
Warren Buffett - Stock Market - Investing - Knowledge
Only buy something that you'd be perfectly happy to hold if the market shut down for 10 years.Warren Buffett - Stock Market - Long Term Investing
I think Virgin Blue is still a very promising and exciting business. Now, I know that's not a view that's widely held in the market but I think the market is simply throwing it into the too-hard basket at the present time because of the oil price events. But we think it is still a very exciting business.Chris Corrigan - Business - Optimistic - Stock Market - Challenges
I've lost tremendous amounts of money in various markets and I think that that's something that makes you better at my job, not worse. Jim Cramer - Money - Stock Market - Jobs - Losing
As long as you enjoy investing, you'll be willing to do the homework and stay in the game. That's why I try to make the show so entertaining, because if you aren't interested, you'll either miss the opportunity to make money in the market or not pay enough attention and end up losing your shirt.Jim Cramer - Money - Stock Market - Losing - Enjoyment - Investing - Opportunity
I mean I'm not smarter than the market, but I can recognize a good tape and a bad tape. I recognize when it's right and when it's wrong and that's what my strength is.Jim Cramer - Stock Market - Strength - Wrong - Smart
We are all wrong so often that it amazes me that we can have any conviction at all over the direction of things to come. But we must.Jim Cramer - Stock Market - Wrong - Optimistic
Every once in a while, the market does something so stupid it takes your breath away.Jim Cramer - Stock Market - Stocks
I rarely think the market is right. I believe non dividend stocks aren’t much more than baseball cards. They are worth what you can convince someone to pay for it.Mark Cuban - Stocks - Investing - Stock Market
If you don’t follow the stock market, you are missing some amazing drama.Mark Cuban - Stock Market - Fun
Wall Street people learn nothing and forget everything.Benjamin Graham - Learning - Stock Market - Investing
Most of the time common stocks are subject to irrational and excessive price fluctuations in both directions as the consequence of the ingrained tendency of most people to speculate or gamble... to give way to hope, fear and greed.Benjamin Graham - Stock Market - Investing - Greed - Fear
The trouble, in my opinion, with corporate America today, is that everything is thought of in quarters.Henry Kravis - Companies - America - Stock Market
The market does not beat them. They beat themselves, because though they have brains they cannot sit tight.Jesse Livermore - Stock Market - Self Control -
The price pattern reminds you that every movement of importance is but a repetition of similar price movements, that just as soon as you can familiarize yourself with the actions of the past, you will be able to anticipate and act correctly and profitably upon forthcoming movements.Jesse Livermore - Stock Market - Investing - Learning
The average man doesn’t wish to be told that it is a bull or a bear market. What he desires is to be told specifically which particular stock to buy or sell. He wants to get something for nothing. He does not wish to work. He doesn’t even wish to have to think.Jesse Livermore - Bear Market - Stocks - Stock Market - Laziness
I never hesitate to tell a man that I am bullish or bearish. But I do not tell people to buy or sell any particular stock. In a bear market all stocks go down and in a bull market they go up. Jesse Livermore - Bear Market - Stocks - Stock Market - Investments
You get recessions, you have stock market declines. If you don't understand that's going to happen, then you're not ready, you won't do well in the markets.
Peter Lynch - Bear Market - Stock Market - Investing -
In this business if you're good, you're right six times out of ten. You're never going to be right nine times out of ten.
Peter Lynch - Luck - Stock Market - Investing -
For equity markets, the combination of low interest rates, strong economic growth and low inflation has proved very beneficial, with global share markets rising solidly in each of the past three years. This has been underpinned by strong growth in profits so that, notwithstanding the rise in share prices, P/E ratios have been declining on average.Ian Macfarlane - Growth - Economy - Stock Market - Profits
Wall Street is one big turf war.. by benefiting one person you are disadvantaging another person. Bernard Madoff - Wall Street - Stock Market
The person that is buying a share of stock is convinced he knows something that the other person who's selling it to him does not know. There's no zero sum game in Wall Street.Bernard Madoff - Investing - Wall Street - Stocks - Stock Market - Buying - Selling
The fact that equities are being sold down, despite the lowest interest rates in recent history, simply means that the market doesn't see growth ahead for very many businesses.John Malone - Investing - Markets - Growth
I have a million dollars in the stock market, because if I lose a million dollars, I don’t personally care.Suze Orman - Assets - Money - Stock Market - Risk - Millionaire
You can say on one hand the market is crazy but it's not 1999. People have had their medicine from overexuberance. I find it really interesting that those two businesses, Yahoo! and Google, which are just online advertising businesses, are valued at more than the media behemoths in America.James Packer - Advertising - Companies - Stock Market
I hate weekends because there is no stock market.Rene Rivkin - Stock Market -
I love the market, it is my work, my play and my life.Rene Rivkin - Stock Market - Investing - Work
The financial markets generally are unpredictable. So that one has to have different scenarios.. The idea that you can actually predict what's going to happen contradicts my way of looking at the market.George Soros - Stock Market - Investing -
Stock market bubbles don't grow out of thin air. They have a solid basis in reality, but reality as distorted by a misconception.
George Soros - Stock Market -
Before this century is over, the Dow Jones Industrial Average will probably be over one million versus around 10,000 now. So for the long-term, the outlook is tremendously bullish if you buy stocks blindly to keep for a century.John Templeton - Long Term Investing - Bull Market - Stock Market
I made a tremendous amount of money on real estate. I'll take real estate rather than go to Wall Street and get 2.8 percent. Forget about it.Ivana Trump - Real Estate - Money - Stock Market
stock market crash
Definitions (2)
1. Precipitous and rapid decline (that may persist for months or years) in the prices of shares traded on a stock exchange, caused by panic selling. Stock market crashes are triggered typically by loss of investor confidence after an unexpected event, and are exacerbated by fear. They are usually preceded by a period of prolonged and high inflation, economic and/or political uncertainty, or hysteric speculative activity. They bring normal economic activity to a halt, wipe out the savings of millions of investors, and bring widespread misery in their wake, specially for the weaker and vulnerable sections of the society. Crash of the US stock-market on New York stock exchange (NYSE) on October 29, 1929 destroyed 14 billion dollars in shareholder value, and the crash on Oct 19, 1987 on the same exchange wiped out some 500 billion dollars of shareholder value. See also Black Mondays.
2. A situation in which a stock market experiences a sudden and major decline in the prices of its underlying stocks. A stock market crash could be brought about by the collapse of a speculative bubble, a financial crisis or an economic crisis. The severity of a stock market crash depends on both the underlying financial events that precipitated the problem and the pressure placed on the stock market by investors reacting to negative news. See also recession, depression.
Stock Market Clash
A stock market crash is a sudden dramatic decline of stock prices across a significant cross-section of a stock market, resulting in a significant loss of paper wealth. Crashes are driven by panic as much as by underlying economic factors. They often follow speculative stock market bubbles.
Stock market crashes are social phenomena where external economic events combine with crowd behavior and psychology in a positive feedback loop where selling by some market participants drives more market participants to sell. Generally speaking, crashes usually occur under the following conditions[1]: a prolonged period of rising stock prices and excessive economic optimism, a market where P/E ratios exceed long-term averages, and extensive use of margin debt and leverage by market participants.
There is no numerically specific definition of a stock market crash but the term commonly applies to steep double-digit percentage losses in a stock market index over a period of several days. Crashes are often distinguished from bear markets by panic selling and abrupt, dramatic price declines. Bear markets are periods of declining stock market prices that are measured in months or years. While crashes are often associated with bear markets, they do not necessarily go hand in hand. The crash of 1987 for example did not lead to a bear market. Likewise, the Japanese Nikkei bear market of the 1990s occurred over several years without any notable crashes.
Stock market crashes are social phenomena where external economic events combine with crowd behavior and psychology in a positive feedback loop where selling by some market participants drives more market participants to sell. Generally speaking, crashes usually occur under the following conditions[1]: a prolonged period of rising stock prices and excessive economic optimism, a market where P/E ratios exceed long-term averages, and extensive use of margin debt and leverage by market participants.
There is no numerically specific definition of a stock market crash but the term commonly applies to steep double-digit percentage losses in a stock market index over a period of several days. Crashes are often distinguished from bear markets by panic selling and abrupt, dramatic price declines. Bear markets are periods of declining stock market prices that are measured in months or years. While crashes are often associated with bear markets, they do not necessarily go hand in hand. The crash of 1987 for example did not lead to a bear market. Likewise, the Japanese Nikkei bear market of the 1990s occurred over several years without any notable crashes.
finance major
What is Finance?
While an accounting degree is meant to cover a diverse range of business functions in nearly any industry, a degree in finance is narrower in focus. Financial accounting is separate from general accounting, as it serves the decision makers outside of the organization, such as banks, government agencies, stockholders and suppliers.A successful career in finance calls for a unique set of skills; it's ideally suited for you if you are outgoing and inquisitive by nature. You'll make use of your mathematical aptitude and ability to take your organization's or client's goals, resources and options into consideration while making your suggestions for their continued financial growth. This is one area where employment opportunities can be influenced by your GPA and previous professional success.
Career Education in Finance
Undergraduate and graduate degree and certificate programs
Your finance curriculum will provide you with fundamental financial management tools to succeed in analyzing and executing the financial aspects of managerial decisions. The minimum level of education required for finance careers is the bachelor's degree. Popular online college courses in finance focus on technology, ethics, e-business, critical thinking, problem solving, research methods and statistical analysis. Careers in financial management generally require a master's degree or MBA (Master of Business Administration) --some firms hiring financial analysts require one. A bachelor's degree is required for CFA certification, as outlined below.Obtaining a master's degree in finance is commonly done while working full time, as a way to advance your professional credentials and in conjunction with certification as a Certified Public Accountant (CPA), Certified Management Accountant (CMA), or Chartered Financial Analyst (CFA). Online college classes are an increasingly popular way for financial professionals to accomplish this goal.
MBA programs with a finance specialization consistently update the curriculum to retain current market relevancy. Ph.D. programs focus on greater understanding of leadership and organizational change, knowledge and learning management, high level decision-making, and finance in modern enterprise. Doctorate programs generally have a short residency requirement.
What can you do with a College Major in Finance?
Career options for aspiring finance professionals
Job prospects in finance are expected to grow faster than average for the next 10 years. The opportunities with a finance degree span many areas including corporate and international financial management, personal financial planning and investment services. Brokerage firms, commercial and investment banks, insurance companies, and other financial intermediary companies employ finance graduates.With a finance degree, you will be equipped with tools for understanding the function and applications of financial markets and the acquisition and allocation of funds for public and private sectors in domestic and international organizations. You'll learn to access and utilize financial information.
Finance Careers
Financial analysts play an integral role in today's competitive economy. Since the 1970s, job opportunities in finance and banking have flourished, due to the increasing complexity of investment options. A financial analyst will research a client's or organization's financial status, including their history, risk tolerance, and current expenditures and investments. They make recommendations based on financial goals and business environments.Specializations within the financial analyst trade include budget analyst, credit analyst, investment analyst, merger and acquisition analyst, money market analyst, ratings analyst, risk analyst, tax analyst, treasury analyst and personal financial advisors. There are currently over 230,000 financial analysts and personal financial advisors working in the U.S., making between $29,500 to 55,000 to $107,000 per year, depending on their industry and professional status.
If you work in financial consulting, your main role will be to provide advice on securities pricing, strategies for creating shareholder value, business valuation, economic forecasts and analysis, and input into treasury management.
As a finance manager, you will direct financial reporting, investment activities, and cash management strategies at any number of professional or government organizations. Median salaries in 2002 were about $73,000 with the top 10% earning over $142,000. Financial management calls on your creative thinking and your ability to see the broad business picture and then direct your team accordingly.
There is a tremendous range of opportunities in commercial banking. While the banking sector continues to consolidate, more people are employed in commercial banking than any other part of the financial services industry.
A career in corporate finance means you'll work for a company to find the money to run the business, grow it, make acquisitions, plan for its financial future and manage any cash on hand. You might work for a large multinational company or a smaller firm with high growth prospects. The key to performing well is to work with long-term goals. Many people think that corporate finance jobs are the most desirable in the field. As a financial officer, you'll concentrate on areas such as liquidity, flexibility, compliance with laws and regulatory support.
In investment banking, finance professionals work within companies and governments to issue securities, help investors trade securities, manage financial assets, and provide financial advice. Smaller firms may be oriented toward bond-trading, M&A advisory, technical analysis or program trading.
Money managers hold stocks and bonds for institutional clients and are on the buy side of Wall Street. Money managers must be proficient in the latest sophisticated quantitative methodology. Many people cross over into money management after years of experience in selling positions in investment banks. A solid background in portfolio theory, fixed income investments, and CFA certification is required.
Financial planners concentrate on helping individuals with their financial futures. This work requires excellent interpersonal skills. A good financial planner understands investments, taxes, estate planning issues, and knows how to listen. You can practice within a company or as a sole proprietor, if you have strong entrepreneurial skills.
NASDAQ and Its features
About the Company Financials Pages
Definitions
- Income Statement
- Often referred to as a Statement of Profit and Loss, or P&L, this financial report shows the revenues and expense generated and incurred by a company over a specified period of time. It shows the net gain or loss from the company’s equity position during the stated accounting period.
- Balance Sheet
- This report presents a snapshot of the company as of a single date, most often the last day of a quarter or year. It shows the accounting value of all of the company’s assets, liabilities and shareholder’s equity as of that date.
- Cash Flow Statement
- This report presents an analysis of all activities during the accounting period that affected cash, impacted primarily by operations, financing and investments.
- Financial Ratios
- These ratios are calculated from the reported figures in the financial statements. They are used to analyze the relative financial health of the company as compared to other similar companies. They can be compared over time within the same company to spot trends and evaluate risks, especially when deviating from companies in the same or similar risk categories .
Data Provider
EDGAR Online.Update Schedule
15 - 20 minute delay.About the Stock Charts Page
The default chart is 1 year Open/High/Low/Close (OHLC) chart for an individual stock. The intervals (aside from the Intraday) are for 5 days, 1 Month, 3 Months, 6 Months and from 1 to 10 years (if the company has 10 years of price and volume data available). The historical charts include the last sale from the current day.Charting elements available for display are Open/High/Low/Close (OHLC) for the periods covered, comparisons to the Nasdaq Composite, Nasdaq-100, S&P 500, DJIA and All Indices.
Stock charts can be viewed displaying moving averages for 10 days, 60 days, 90 days or 270 days.
A chart displaying Historical Stock Splits and a table containing the split amount, ex-date, pay-date, record-date and announcement date is also displayed.
A chart displaying Earnings information and a table containing the date of the earnings announcement is also available.
By clicking on any of the price charts (except intraday) the user can see a list of each days closing prices for the period of time represented by the chart. (At this time the current day's last sale is not included).
Historical splits may also be viewed for the charting period by clicking on that option.
Data Definitions
- Chart Range
- The period of time covered by the chart. The shortest is intraday and the longest is 10 years.
- Chart Elements
- Provides the charting options available to the user, from the standard Price/Volume representation to comparisons and moving averages.
- Volume
- The closing daily official volumes represented graphically for each trading day.
Why Investors Care
Investors look closely at trends to make a judgment about the current a future direction of a stock. It is often easier to determine a stock trend by looking at a chart of stock prices over a period of time, along with the total volume generated during the trading day in relation to the closing price for the day.Data Provider
Source: Edgar Online, Inc. Data supplied by ILX Systems, Inc.Update Schedule
15-20 minute delay for intraday charts. Daily for historical charts.Forex in UK
The foreign exchange (currency or forex or FX) market exists wherever one currency is traded for another. It is by far the largest financial market in the world, and includes trading between large banks, central banks, currency speculators, multinational corporations, governments, and other financial markets and institutions. The average daily trade in the global forex and related markets currently is over US$ 3 trillion.
Exchange-traded forex futures contracts were introduced in 1972 at the Chicago Mercantile Exchange and are actively traded relative to most other futures contracts. Forex futures volume has grown rapidly in recent years, and accounts for about 7% of the total foreign exchange market volume, according to The Wall Street Journal Europe (5/5/06, p. 20).
Average daily global turnover in traditional foreign exchange market transactions totaled $2.7 trillion in April 2006 according to IFSL estimates based on semi-annual London, New York, Tokyo and Singapore Foreign Exchange Committee data. Overall turnover, including non-traditional foreign exchange derivatives and products traded on exchanges, averaged around $2.9 trillion a day. This was more than ten times the size of the combined daily turnover on all the world’s equity markets. Foreign exchange trading increased by 38% between April 2005 and April 2006 and has more than doubled since 2001. This is largely due to the growing importance of foreign exchange as an asset class and an increase in fund management assets, particularly of hedge funds and pension funds. The diverse selection of execution venues such as internet trading platforms has also made it easier for retail traders to trade in the foreign exchange market.
Because foreign exchange is an OTC market where brokers/dealers negotiate directly with one another, there is no central exchange or clearing house. The biggest geographic trading centre is the UK, primarily London, which according to IFSL estimates has increased its share of global turnover in traditional transactions from 31.3% in April 2004 to 32.4% in April 2006. RPP
The ten most active traders account for almost 73% of trading volume, according to The Wall Street Journal Europe, (2/9/06 p. 20). These large international banks continually provide the market with both bid (buy) and ask (sell) prices. The bid/ask spread is the difference between the price at which a bank or market maker will sell ("ask", or "offer") and the price at which a market-maker will buy ("bid") from a wholesale customer. This spread is minimal for actively traded pairs of currencies, usually 0–3 pips. For example, the bid/ask quote of EUR/USD might be 1.2200/1.2203 on a retail broker. Minimum trading size for most deals is usually 100,000 units of currency, which is a standard "lot".
These spreads might not apply to retail customers at banks, which will routinely mark up the difference to say 1.2100 / 1.2300 for transfers, or say 1.2000 / 1.2400 for banknotes or travelers' checks. Spot prices at market makers vary, but on EUR/USD are usually no more than 3 pips wide (i.e. 0.0003). Competition is greatly increased with larger transactions, and pip spreads shrink on the major pairs to as little as 1 to 2 pips.
Market size and liquidity
The foreign exchange market is unique because of
* its trading volumes,
* the extreme liquidity of the market,
* the large number of, and variety of, traders in the market,
* its geographical dispersion,
* its long trading hours: 24 hours a day (except on weekends),
* the variety of factors that affect exchange rates.
* the low margins of profit compared with other markets of fixed income (but profits can be high due to very large trading volumes)
* its trading volumes,
* the extreme liquidity of the market,
* the large number of, and variety of, traders in the market,
* its geographical dispersion,
* its long trading hours: 24 hours a day (except on weekends),
* the variety of factors that affect exchange rates.
* the low margins of profit compared with other markets of fixed income (but profits can be high due to very large trading volumes)
As such, it has been referred to as the market closest to the ideal perfect competition. According to the BIS, average daily turnover in traditional foreign exchange markets is estimated at $3.21 trillion. Daily averages in April for different years, in billions of US dollars, are presented on the chart below:
This $3.21 trillion in global foreign exchange market "traditional" turnover was broken down as follows:
* $1,005 billion in spot transactions
* $362 billion in outright forwards
* $1,714 billion in forex swaps
* $129 billion estimated gaps in reporting
In addition to "traditional" turnover, $2.1 trillion was traded in derivatives.
* $1,005 billion in spot transactions
* $362 billion in outright forwards
* $1,714 billion in forex swaps
* $129 billion estimated gaps in reporting
In addition to "traditional" turnover, $2.1 trillion was traded in derivatives.
Exchange-traded forex futures contracts were introduced in 1972 at the Chicago Mercantile Exchange and are actively traded relative to most other futures contracts. Forex futures volume has grown rapidly in recent years, and accounts for about 7% of the total foreign exchange market volume, according to The Wall Street Journal Europe (5/5/06, p. 20).Average daily global turnover in traditional foreign exchange market transactions totaled $2.7 trillion in April 2006 according to IFSL estimates based on semi-annual London, New York, Tokyo and Singapore Foreign Exchange Committee data. Overall turnover, including non-traditional foreign exchange derivatives and products traded on exchanges, averaged around $2.9 trillion a day. This was more than ten times the size of the combined daily turnover on all the world’s equity markets. Foreign exchange trading increased by 38% between April 2005 and April 2006 and has more than doubled since 2001. This is largely due to the growing importance of foreign exchange as an asset class and an increase in fund management assets, particularly of hedge funds and pension funds. The diverse selection of execution venues such as internet trading platforms has also made it easier for retail traders to trade in the foreign exchange market.
Because foreign exchange is an OTC market where brokers/dealers negotiate directly with one another, there is no central exchange or clearing house. The biggest geographic trading centre is the UK, primarily London, which according to IFSL estimates has increased its share of global turnover in traditional transactions from 31.3% in April 2004 to 32.4% in April 2006. RPP
The ten most active traders account for almost 73% of trading volume, according to The Wall Street Journal Europe, (2/9/06 p. 20). These large international banks continually provide the market with both bid (buy) and ask (sell) prices. The bid/ask spread is the difference between the price at which a bank or market maker will sell ("ask", or "offer") and the price at which a market-maker will buy ("bid") from a wholesale customer. This spread is minimal for actively traded pairs of currencies, usually 0–3 pips. For example, the bid/ask quote of EUR/USD might be 1.2200/1.2203 on a retail broker. Minimum trading size for most deals is usually 100,000 units of currency, which is a standard "lot".
These spreads might not apply to retail customers at banks, which will routinely mark up the difference to say 1.2100 / 1.2300 for transfers, or say 1.2000 / 1.2400 for banknotes or travelers' checks. Spot prices at market makers vary, but on EUR/USD are usually no more than 3 pips wide (i.e. 0.0003). Competition is greatly increased with larger transactions, and pip spreads shrink on the major pairs to as little as 1 to 2 pips.
Market participants
Banks:
The interbank market caters for both the majority of commercial turnover and large amounts of speculative trading every day. A large bank may trade billions of dollars daily. Some of this trading is undertaken on behalf of customers, but much is conducted by proprietary desks, trading for the bank's own account.
Until recently, foreign exchange brokers did large amounts of business, facilitating interbank trading and matching anonymous counterparts for small fees. Today, however, much of this business has moved on to more efficient electronic systems. The broker squawk box lets traders listen in on ongoing interbank trading and is heard in most trading rooms, but turnover is noticeably smaller than just a few years ago.
The interbank market caters for both the majority of commercial turnover and large amounts of speculative trading every day. A large bank may trade billions of dollars daily. Some of this trading is undertaken on behalf of customers, but much is conducted by proprietary desks, trading for the bank's own account.
Until recently, foreign exchange brokers did large amounts of business, facilitating interbank trading and matching anonymous counterparts for small fees. Today, however, much of this business has moved on to more efficient electronic systems. The broker squawk box lets traders listen in on ongoing interbank trading and is heard in most trading rooms, but turnover is noticeably smaller than just a few years ago.
Commercial companies:
An important part of this market comes from the financial activities of companies seeking foreign exchange to pay for goods or services. Commercial companies often trade fairly small amounts compared to those of banks or speculators, and their trades often have little short term impact on market rates. Nevertheless, trade flows are an important factor in the long-term direction of a currency's exchange rate. Some multinational companies can have an unpredictable impact when very large positions are covered due to exposures that are not widely known by other market participants.
An important part of this market comes from the financial activities of companies seeking foreign exchange to pay for goods or services. Commercial companies often trade fairly small amounts compared to those of banks or speculators, and their trades often have little short term impact on market rates. Nevertheless, trade flows are an important factor in the long-term direction of a currency's exchange rate. Some multinational companies can have an unpredictable impact when very large positions are covered due to exposures that are not widely known by other market participants.
Central banks:
National central banks play an important role in the foreign exchange markets. They try to control the money supply, inflation, and/or interest rates and often have official or unofficial target rates for their currencies. They can use their often substantial foreign exchange reserves to stabilize the market. Milton Friedman argued that the best stabilization strategy would be for central banks to buy when the exchange rate is too low, and to sell when the rate is too high that is, to trade for a profit based on their more precise information. Nevertheless, the effectiveness of central bank "stabilizing speculation" is doubtful because central banks do not go bankrupt if they make large losses, like other traders would, and there is no convincing evidence that they do make a profit trading.
The mere expectation or rumor of central bank intervention might be enough to stabilize a currency, but aggressive intervention might be used several times each year in countries with a dirty float currency regime. Central banks do not always achieve their objectives. The combined resources of the market can easily overwhelm any central bank. Several scenarios of this nature were seen in the 1992–93 ERM collapse, and in more recent times in Southeast Asia.
National central banks play an important role in the foreign exchange markets. They try to control the money supply, inflation, and/or interest rates and often have official or unofficial target rates for their currencies. They can use their often substantial foreign exchange reserves to stabilize the market. Milton Friedman argued that the best stabilization strategy would be for central banks to buy when the exchange rate is too low, and to sell when the rate is too high that is, to trade for a profit based on their more precise information. Nevertheless, the effectiveness of central bank "stabilizing speculation" is doubtful because central banks do not go bankrupt if they make large losses, like other traders would, and there is no convincing evidence that they do make a profit trading.
The mere expectation or rumor of central bank intervention might be enough to stabilize a currency, but aggressive intervention might be used several times each year in countries with a dirty float currency regime. Central banks do not always achieve their objectives. The combined resources of the market can easily overwhelm any central bank. Several scenarios of this nature were seen in the 1992–93 ERM collapse, and in more recent times in Southeast Asia.
Investment management firms:
Investment management firms (who typically manage large accounts on behalf of customers such as pension funds and endowments) use the foreign exchange market to facilitate transactions in foreign securities. For example, an investment manager with an international equity portfolio will need to buy and sell foreign currencies in the spot market in order to pay for purchases of foreign equities. Since the forex transactions are secondary to the actual investment decision, they are not seen as speculative or aimed at profit-maximization.
Some investment management firms also have more speculative specialist currency overlay operations, which manage clients' currency exposures with the aim of generating profits as well as limiting risk. Whilst the number of this type of specialist firms is quite small, many have a large value of assets under management (AUM), and hence can generate large trades.
Investment management firms (who typically manage large accounts on behalf of customers such as pension funds and endowments) use the foreign exchange market to facilitate transactions in foreign securities. For example, an investment manager with an international equity portfolio will need to buy and sell foreign currencies in the spot market in order to pay for purchases of foreign equities. Since the forex transactions are secondary to the actual investment decision, they are not seen as speculative or aimed at profit-maximization.
Some investment management firms also have more speculative specialist currency overlay operations, which manage clients' currency exposures with the aim of generating profits as well as limiting risk. Whilst the number of this type of specialist firms is quite small, many have a large value of assets under management (AUM), and hence can generate large trades.
Hedge funds:
Hedge funds have gained a reputation for aggressive currency speculation since 1996. They control billions of dollars of equity and may borrow billions more, and thus may overwhelm intervention by central banks to support almost any currency, if the economic fundamentals are in the hedge funds' favor.
Hedge funds have gained a reputation for aggressive currency speculation since 1996. They control billions of dollars of equity and may borrow billions more, and thus may overwhelm intervention by central banks to support almost any currency, if the economic fundamentals are in the hedge funds' favor.
Retail forex brokers:
There are two types of retail broker: brokers offering speculative trading and brokers offering physical delivery i.e. the bought currency is delivered to a bank account.
Retail forex brokers or market makers handle a minute fraction of the total volume of the foreign exchange market. According to CNN, one retail broker estimates retail volume at $25–50 billion daily, which is about 2% of the whole market. Retail traders (individuals) are a small fraction of this market and may only participate indirectly through brokers or banks, and might be subject to forex scams.
Last Updated ( Saturday, 18 April 2009 11:05 ) There are two types of retail broker: brokers offering speculative trading and brokers offering physical delivery i.e. the bought currency is delivered to a bank account.
Retail forex brokers or market makers handle a minute fraction of the total volume of the foreign exchange market. According to CNN, one retail broker estimates retail volume at $25–50 billion daily, which is about 2% of the whole market. Retail traders (individuals) are a small fraction of this market and may only participate indirectly through brokers or banks, and might be subject to forex scams.
