Stocks are a type of securities that are publicly or privately issued by a joint-stock company to investors when raising capital to prove the investor's equity identity and rights, and the holder has rights and obligations based on the number of shares held.

Evidence of obligation.

Stocks represent the ownership rights of their holders (shareholders) in a joint-stock company. Each share of the same type of stock represents equal ownership of the company, that is, "same shares have the same rights."

Stocks can be publicly listed or unlisted.

In the stock market, stocks are also objects of investment and speculation.

Certain speculative behaviors in stocks, such as short selling without goods, can cause turmoil in financial markets.

Futures are the opposite of spot.

Futures are subject matter that is bought and sold now, but will be settled or delivered in the future. This subject matter can be a certain commodity such as gold, crude oil, agricultural products, a financial instrument, or a financial indicator.

Futures delivery can be one week later, one month later, three months later, or even one year later.

A contract or agreement to buy or sell futures is called a futures contract.

The place where futures are bought and sold is called the futures market.

Investors can invest or speculate in futures.

Inappropriate speculation in futures, such as short selling, can lead to financial market instability.

Securities are a collective term for a variety of economic rights and interests certificates, and are written proof that the security holder has the right to obtain due rights and interests based on the content stated on the face of the certificate.

According to their nature, different securities are divided into evidence securities, certificate securities, marketable securities, etc.

Some securities can be circulated in the market, and the existence of securities activates finance, economy, and investment.

Inappropriate speculation in securities, such as short selling, can lead to instability in financial markets.

Funds can be divided into broad and narrow senses. In a broad sense, a fund refers to a certain amount of funds established for a certain purpose.

For example, trust investment funds, unit trust funds, provident funds, insurance funds, retirement funds, and various foundation funds.

Funds in the existing securities market, including closed-end funds and open-end funds, have the characteristics of income-generating functions and value-added potential.

From an accounting perspective, funds are a narrow concept, meaning funds with specific purposes and uses.

Funds are formed because investors from governments and public institutions do not require investment returns or investment recovery, but require funds to be used for designated purposes in accordance with legal provisions or the investor's wishes.