Fundamentals of Financial Instruments: An Introduction to by Sunil Parameswaran

By Sunil Parameswaran

The crucial advisor to monetary tools, logically presented
Fundamentals of monetary Instruments offers with the worldwide monetary markets and the tools during which they alternate. whereas such a lot books on finance are typically seriously mathematical, this ebook emphasizes the ideas in a logical, sequential style, introducing mathematical options basically on the proper instances. for that reason, the reader earnings conceptual readability bolstered by way of simply definitely the right point of technical element to make sure a finished publicity to the abilities wanted within the monetary world.* Establishes a powerful beginning for knowing international markets* Acts as a useful source for these contemplating a occupation within the monetary markets* deals an obtainable but in-depth treatise on smooth monetary tools* provides a logical navigational course for a customary scholar of finance who's trying to come to phrases with the intricacies of the subject
Covering the basics of assorted forms of resources in one quantity, basics of Financial Instruments is a compact but entire one-stop reference for college students and execs in finance and economics.

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Extra info for Fundamentals of Financial Instruments: An Introduction to Stocks, Bonds, Foreign Exchange,and Derivatives (Wiley Finance)

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On the other hand, interest payments to bond holders are made from pretax profits and therefore constitute a deductible expense for tax purposes. If a company were to refrain from paying the preferred dividends in a particular year, then the shareholders, unlike the bondholders, cannot take legal recourse as a matter of right. Most preferred shares are cumulative in nature. This implies that any unpaid dividends in a financial year must be carried forward, and the accumulated dividends must first be paid before the company can contemplate the payment of dividends to equity shareholders.

The maximum loss that a shareholder may sustain is limited to her investment in the business. Debt Securities A debt instrument is a financial claim issued by a borrower to a lender of funds. Unlike equity shareholders, investors in debt securities are not conferred with ownership rights. These securities are merely IOUs (an acronym for “I owe you”) that represent a promise to pay interest on the principal amount either at periodic intervals or at maturity, as well as to repay the principal itself at a prespecified maturity date.

Such swaps are referred to as currency swaps. Mortgages and Mortgage-Backed Securities A mortgage is a loan that is backed by the collateral of specified real estate property. The borrower of funds, the mortgagor, is obliged to make periodic payments to the lender, the mortgagee, in order to retire the debt. In the event of the mortgagor defaulting, the lender can foreclose the mortgage, which means that she can take over the property in order to recover the balance that is due her. A mortgage by itself is a fairly illiquid asset for the party that makes the loan to the home buyer.

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