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HOW THE STOCK MARKET WORKS
The stock market is an important part of all our lives. It is the principal means through which companies raise capi tal to expand their operations and the mediunt used by millions of investors to trade for capital gain or invest for dividend income. With the arrival of electronic trad ing, the world's stock exchanges, old and new, will ultimately be linked together, allowing individuals and institutions to pur- chase and sell securities, at fair and compet- itive prices, almost instantaneously.
How the Stock Market Works, the classic guide to the markets, has been thoroughly updated and expanded to reflect the latest changes, and features a solid introduction to Wall Street for beginning financial profes- sionals as well as individual investors. In it, John M. Dalton, formerly with the American Stock Exchange, explains the inner workings of the securities industry, including how a stock is brought to market (the initial public offering), who's who inside the brokerage firm, and the basics of back office opera- tions. He also shows you how to decipher the financial press, how dividends and capital gains are taxed and their impact on your portfolio, and how to analyze your portfolio
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