- Fungible
- Negotiable
- Tradable
- Financial Instruments
- Represents
- Ownership position in public company
- Creditor relationship with government or company
- Right to ownership
- 3 types
- Equity
- Ownership rights
- Company, partnership or trust
- Capital stock
- Typically not entitled to regular payments
- Although often pay dividends
- Capital gains
- Some control of company via voting
- Debt
- Repayable loans
- Includes
- Government and corporate bonds
- Certificates of deposit
- Collateralised securities
- Typically entitled to regular interest payments
- And repayment of principal
- Any other contractual rights
- Secured or unsecured
- Hybrids