All securites are a form of loaning money to a company. def. Capital Structure. Order of payouts when company goes Bankrupt.
- Loans
- Fixed Income
- Bonds: No voting rights, 1st seniority cap structure, fixed interest
- Equity
- Preferred Shares: limited voting, 2nd seniority cap structure, fixed dividends (mostly)
- Common Shares: full voting, last seniority cap structure, unknown dividends
- Derivatives
- Structured Products
Basically capital to be valorized. Interest is surplus value.