1. STOCKS/SHARES /EQUITIES

2. A few things to remember...  Individuals and groups of people doing business as a partnership, have 1........... liability for debts, unless they form a limited company. If the business cannot pay its 2..........., any creditor can have it declared 3............ In order not to lose their personal 4..........., most people doing business form 5........... companies, i.e. legal 6........... separate from their owners and only 7........... for the amount of capital that has been 8........... in it. If a limited company goes 9..........., it is wound up and its assets are 10........... (i.e. sold) to pay the debts. If the 11........... do not cover the liabilities or the debts, they remain unpaid and 12........... simply do not get all their money back. Based on MacKenzie (2002), p.91

3. A few things to remember...  Most companies begin as 13… limited companies. Their owners have to put capital themselves, or 14 ….. from friends or a bank. A growing company can apply to a stock exchange to become a 15 … limited company (GB)/listed company (US). Very successful companies can be quoted/listed on major stock exchanges. Public companies fulfill a large number of requirements including publishing independently audited annual reports for their 16 …. Based on MacKenzie (2002), p.91

4. STOCKS/SHARES /EQUITIES Selling  Who?  Why? Buying  Who?  Why? Trading  Where?

5. COMPANIES issuing shares – raising funds for expansion public limited companies (Plc) public companies *Attention!What does ’public’ mean here? to list shares at a stock exchange listing / quotation listed companies / quoted companies

6. COMPANIES going public ( e.g. They went public last year.) flotation / IPO (Initial Public Offering) to float a company underwriting new share issues

7. INA IPO starts today 13 November 2006  -- Croatia has set the price range for local investors seeking to buy shares in oil company INA at between 1,400 kuna and 1,900 kuna. The IPO will start today, when subscription will open for local buyers. A roadshow for investors will start next Monday. The books will close on November 23 for private individuals and four days later for institutional investors from Croatia. The government hopes to fetch up to 2.85 billion kuna from the sale of 15 percent of INA's stock and may float a further two percent, depending on investor interest.

8. What are Stocks? http://www.investopedia.com/video/play/what-are-stocks  Definition of a stock?  What do stockholders have claim on?  What major stock exchanges are mentioned in the video?

9. SHAREHOLDERS/STOCKHOLDERS investors purchasing shares - taking part of the ownership small shareholders vs. majority shareholder retail shareholders vs. institutional investors Shareholders’ rights:  to vote at AGM (AMS)  to receive a dividend  to claim the company's assets (in case of liquidation)  to sell shares on the secondary market

10. TRADING  trade in shares  secondary market  stock market: stock exchanges, OTC  traders: market makers,dealers, brokers  different types of shares (e.g. ordinary shares/common stock, preferential shares/preferred stock)

11. The «Farm»  Bulls  Bears  Chicken  Pigs  Stags  bull market / bear market  bullish market / bearish market Bulls make money, bears make money, but pigs just get slaughtered.