8 ms·
The textbook definition of a security is expecting to profit based on the efforts of a third party.
by Jd 9y ago
The textbook definition of a security is expecting to profit based on the efforts of a third party.
- jessriedel 9y agoThe definition in Kadin's comment that I reference is more exact.
- runeks 9y agoWith what money will you buy the security unless you, yourself, have exerted an effort? You’re profiting from the money you’ve earned through exerting an effort, followed by foregoing consumption, resulting in surplus capital with which you can purchase the security.