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Securities Market Metrics

Securities Market Metrics. Exchanges vs. Indices. Exchanges are where the transaction takes place Index is a measurement of performance Sometimes an Index measures performance of stocks on a specific Exchange Don’t get confused about this…. Popular Exchanges . NYSE Amex Nasdaq Philly

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Securities Market Metrics

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  1. Securities Market Metrics

  2. Exchanges vs. Indices • Exchanges are where the transaction takes place • Index is a measurement of performance • Sometimes an Index measures performance of stocks on a specific Exchange • Don’t get confused about this…

  3. Popular Exchanges • NYSE • Amex • Nasdaq • Philly • Pacific • London • Tokyo • Hong Kong • Other worldwide exchanges • After-hours / Electronic exchanges

  4. Indices • DJA • S&P • NYSE • AMEX • NASDAQ • Wilshire • Russell

  5. Dow Jones • Industrial (Reliability? Some say yes, some say no….) • Transportation • Utility • Composite (three above)

  6. Standard and Poor’s • Industrial (400) • Transportation (20) • Utility (40) • Financial (40) • Composite (500) • Midcap (400) • Smallcap (600) • Composite 1500 • Comparison with Dow (Index vs. Average, Breadth, Accuracy…some argue Dow close enough)

  7. Exchange-Related Indices • NYSE Indices • Amex • Nasdaq

  8. Wilshire Indices • Attempt to reflect the total market value (captures approx. 99% of total market value) • A point is worth $1Billion • Wilshire reading of 10,000 = $10 Trillion in total value

  9. Russell 2000 • Measure of small stocks’ performance

  10. Individual Stock Data • Wall Street Journal • Barrons • Investor’s Business Daily • Multiple On-line Sources • Hi/Lo, Close, Last, Bid/Ask, P/E, Div, Yield, Volume, Shares Outstanding

  11. Annual Shareholder Reports • Reports include key business fundamentals and financial data • Operating detail • Financial discussion

  12. SEC Filings • Financial Statements • Other documents • Key source of information for publicly traded corporations • Edgar Database

  13. Analyst Reports • Upgrades / downgrades • Buy / Strong Buy / Hold • When does buy mean sell? • Earnings Expectations (Meet/Beat/Die)

  14. Information On Individual Stocks • On-line sources • Value-line-valueline \ education \howto • Morningstar—Stock selector • S&P • Barron’s • WSJ (Zack’s) • Bloomberg

  15. How much is a stock worth? • When is a stock overvalued? • When is the MARKET overvalued? • Earnings multiples… • Bulls vs. Bears • When should you care?

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