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Securities mainly include capital security, currency securities and commodity securities. In a narrow sense, securities mainly refer to securities products in the securities market, including property market products such as stocks, debt market products such as bonds, and derivative market products such as stock futures, options and interest rate futures. Securities are documents of rights with property value. In modern society, people are not satisfied with the direct possession, use, income and disposal of wealth, but pay more attention to the ultimate domination and control of wealth, and securities, a new form of property, came into being. Holding securities means that the holder has control over the property represented by securities, but this control is not direct control but indirect control.
For example, if a shareholder holds shares in a company, he/she will have control over the company's property according to the proportion of his/her shares in the total issued shares of the company. However, he/she cannot claim the right to directly possess, use, benefit and dispose of the property of a specific company, but can only enjoy the owner's right to benefit from the assets, the right to make major decisions and the right to choose managers in proportion. In this sense, securities are the product of capital accumulation with the help of market economy and social credit development, and securities rights show the nature of property rights. The ultimate goal of securities holders is to obtain income, which is the direct motivation of securities holders to invest in securities. On the one hand, securities itself is a kind of property right, which embodies a specific property right. Securities holders can obtain benefits by exercising this property right, such as dividend income (stocks) or interest income (bonds); On the other hand, the holders of securities can gain income by transferring securities, such as buying at a low price and selling at a high price in the secondary market, and they can gain income through the price difference, especially speculative income. The risk of securities is that investors may not get expected returns or even losses because of changes in the securities market or issuers.