Studies for the NASD 6-3 continue:
"These instruments must meet the four-pronged test of the Howey decision. For example, interests in farm animals must represent an investment of money in a common effort of others (the breeder or trainer) to realize a profit from the sale of the animals. A farmer's direct ownsership of a cow is not a security - it is a cow."
Ohh, that cracks me up everytime.
1 comment:
I'm glad that I'm not an accountant, and furthermore I am glad that there are people like you who throw themselves into such work and do all the magic that happens behind closed doors at banks and other financial institutions.
By the way, Steve, my best friend Mi, who you may have met on a few occasions, wants to be an accountant! So if you want to talk about it and encourage him/give tips/hookups/etc, you can call him at 397-1605.
Post a Comment