コメント・トラックバックについて

• Commas to Link         

(a) Preferred stock is an equity security but it ranks ahead of common stock in
receiving dividends and in any cash distribution should a corporation be
dissolved.

(b) The bond-issuing company pays interest on the bonds at regular intervals and they will have a specified value when they mature.

(c) A firm is not obliged to pay dividends to common stockholders if profits are low so common stock is popular with new corporations facing an uncertain future.

(d) Brokers receive a commission each time they buy or sell securities for their clients but they are prohibited from executing excessive trades for the purpose of generating commissions, i.e. churning.

• Commas to Set Off

[Intros]
(a) For large corporations with tens of thousands of owners keeping records on
securities is a staggering burden. As a result such corporations normally
employ banks to act as their transfer agents.

(b) If the warrant price is lower than the price of outstanding shares the
warrants acquire a value of their own prompting stockholders to sell them.

(c) Although there are three Dow-Jones averages (for industrial, transportation
and utilities) the industrial average is the one most widely quoted.

[Series]
(a) A prospectus presents a company’s financial data for several consecutive
years discusses its position in its industry describes how it plans to use
the funds raised by the securities sale and summarizes other information
that should help investors make their decision.

(b) I'd like to talk about the present the past and the future of our business.

• Commas to Bracket 

(a) While a prospectus makes the official or legal offer a company typically runs an advertisement called a “tombstone” prospectus.

(b) Common stock which all for-profit corporations must issue is a security held by the corporation’s owners.

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