Overview
              Stocks and stock markets
              Valuation:
                » Use present value formula
              Dividend growth models
                » Applications
                » Extensions
              Financial ratios
                » Dividend yields
                » P/E multiples
              Discounted cash flow models (DCF)
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                       Common Stock
        Stockholders are owners of the firm.
        Stockholders are residual claimants.
        Stockholders have the right to:
          » vote at company meetings
          » dividends and other distributions
          » sell their shares
        Stockholders benefit in two ways:
          » dividends
          » capital gains
        Stock is issued by public corporations to finance investments.
        Stock is initially issued in the primary market (IPOs and 
          secondary offerings).
        Stock is traded in the secondary market on organized 
          exchanges.
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                    World Stock Markets
         New York               Mexico                  Johannesburg
         Tokyo                  Canada                  Sydney
         London                 Brussels                Stockholm
         Frankfurt              Hong Kong               Amsterdam
         Paris                  Singapore               Switzerland
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              International Stock Market 
                                  Indices
                                                Value     Net Chg   Pct Chg
      UKX        FT-SE 100 Index                  4207.70     10.20      0.24
      CAC        CAC 40 INDEX                     2425.10     17.33      0.71
      DAX        DAX INDEX                        3001.37      8.05      0.26
      IBEX       IBEX 35 INDEX                    5470.23     85.41      1.58
      MIB30      MILAN MIB30 INDEX               18485.00    344.00      1.89
      BEL20      BEL20 INDEX                      2006.79      8.22      0.41
      AEX        AMSTERDAM EXCHANGES INDX          670.08      0.53      0.07
      SMI        SWISS MARKET INDEX               4019.89     12.79      0.31
      NKY        NIKKEI 225 INDEX                18090.03    -54.30     -0.29
      HSI        HANG SENG STOCK INDEX           13856.40     25.72      0.18
      AS30       ASX ALL ORDINARIES INDX          2435.50     -0.80     -0.03
      STI        SING: STRAITS TIMES INDU         2244.21     23.84      1.07
      TS300      TSE 300 Index                    6136.39     32.73      0.53
      MEXBOL     MEXICO BOLSA INDEX               3741.87     40.04      1.08
       Value on January 17, 1997, Change relative to previous day
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                       U. S. Stock Markets
           Major U. S. Stock Exchanges
         New York Stock Exchange (NYSE)
         American Stock Exchange (AMEX)
         Over-The-Counter (OTC)
            » National Association of Securities Dealers (NASDAQ)
            U. S. Stock Market 
                                                      Value     Net Chg   Pct Chg
            INDU       DOW JONES INDUS. AVG              6795.37    30.00      0.44
            SPX        S&P 500 INDEX                      773.68      3.92     0.50
            CCMP       NASDAQ COMB COMPOSITE IX          1349.49      9.02     0.67
            Other Indices
          NYSE Composite
          Russell 2000
          Wilshire 5000
          Value Line
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