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The Primary Market is a market in which new, opposed to previously issued securities are bought and sold for the first time. (Titman, Keown & Martin, 2014).

 

 

 The Secondary Market is where all subsequent trading of previously issued securities takes place.  In this market the issuing firm does not receive any new financing, as the securities it has sold are simply being transferred from one investment to another. (Titman, Keown & Martin, 2014).

 

 Class,

 

 

 

In your opinion, are these markets efficient? Why? or Why Not?

 

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