Primary Market Purchase of the security of interest is made directly from the issuer. This source is of limited availability to ordinary investors. Primary purchaser is the investment banking firm which in turn resells the securities to us.
Secondary Market This is the arena in which you and I do business. Securities are free-traded among investors seeking to buy or sell.
Buying and Selling Securities Among individuals Through brokers Through mutual fund offices Through money managers Through company transfer agents
Investing Lessons Learned Cannot predict the market Don’t obsess over market performance Pay attention to recent stock/fund/bond performances “This time is NOT different” Be “tax wise” Maximize retirement contributions Bond is NOT a four- letter word Be good at buying and selling Know when to let go Have future perspectives Retirees need “growth”