professional retraining program in stock and financial markets at the higher school of economics, alexey bacherovthat he has been working in the stock markets, they call it smart money. that is , investing in bonds, unlike deposits and especially buying or selling shares, has always been called smart or hard money, we have mikhail, a difficult task today, let's start with. what is a bond? a bond is a security, correctly, if we speak in the necessary terms, yes, it is equity securities, and if we simply say it, it is a promissory note, well, if we really simplify it, yes, if we really simplify it, it really is a debt receipt that the issuer, and this receipt, issues, the word issuer is the one who issues, and once again for our audience i will say that, in principle, when you borrow money from a neighbor and write a receipt, this is also a bond, and the issuers, that is... you yourself are the issuer of this receipt, and accordingly, you bear all responsibility and all the risks for the fact that you fulfill or fail to fulfill the obligations under this receipt , respectively, the issuers or issue

a professional retraining program in stock and financial markets higher school of economics, alexey bacherovxey. hello, mikhail. what are bonds and why do all those who have been working on... on the stock markets call it smart money, that is , investing in bonds, unlike deposits and especially buying or selling shares, has always been called smart or hard money, mikhail, we have a difficult task today, let's start with what is a bond? a bond is a security, correctly speaking in the necessary terms, yes, it is an issue-grade security paper, and to put it simply, it’s a promissory note, well, if we really simplify it, yes, if we really simplify it, it really is. this is also a bond, and you yourself are the issuer, that is, the one issuing this receipt, and accordingly, all responsibility for all risks for the fact that you fulfill or fail to fulfill your obligations under this receipt are borne by you, respectively, the issuers or... to lend to the state , oh, the state likes to borrow in different ways, and construction projects are really very large, it starts from a year, by the way, it’s

professional retraining program in stock and financial markets at the higher school of economics, alexey bacherov smart money, that is , investing in bonds, as opposed to deposits and moreover, buying or selling shares has always been called smart or hard money. we have mikhail, a difficult task today. let's start with what a bond is. bonds are securities, correctly speaking in the necessary terms, yes, they are issue-grade securities, but to put it simply, they are a promissory note, well, to put it simply, yes. if it completely forgives, it’s really a promissory note that the issuer, and of this receipt issues, the word issuer is the one who issues, and once again i’m here for our i will tell the audience that, in principle, this is when you borrow. your neighbor has money and you write a receipt, this is also a bond, and the issuer, that is , the issuer of this receipt, is you yourself, and accordingly, all the risks for the fact that you fulfill or fail to fulfill the obligations under this receipt are borne by you, respectively, the issuers or who can issue bonds, maybe the state, maybe comp