Hallycon Academy

Curso 6 · Siguiente paso

How markets work

Exchanges, buyers and sellers, prices, orders, crashes and recoveries, and why markets around the world move together.

  • 7 lecciones
  • 49 min
  • Gratis
  • Un certificado al terminar

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Para quién es

Para quien nunca ha comprado una acción y quiere entender qué ocurre en la bolsa antes de poner dinero.

Las lecciones

Cada lección tiene un vídeo breve, un cuestionario y enlaces para saber más. Las lecciones completas se abren tras un registro gratuito.

  1. Lección 1: What a market is

    7 min

    Buyers and sellers agree a price. The weekly market and the stock exchange follow the same idea.

    Puntos clave

    • A price is where a buyer and a seller agree.
    • More buyers than sellers pushes the price up, and the reverse.
    • A share price is what the last buyer paid, not a sure measure of what the company is worth.

  2. Lección 2: Stock exchanges and who trades there

    7 min

    Euronext, Frankfurt, SIX and the big exchanges abroad. Why companies list their shares, and why you buy from another investor, not the company.

    Puntos clave

    • Euronext runs the exchanges of Brussels, Amsterdam and Paris; German shares trade on Xetra in Frankfurt, Swiss shares on SIX in Zurich.
    • A company sells new shares once, when it lists; after that, investors trade with each other.
    • Pension funds, insurers and funds do most of the trading; private savers are a small part.

  3. Lección 3: Brokers, banks, custodians and regulators

    7 min

    Who stands between you and the market, who holds your shares, and who watches over all of them.

    Puntos clave

    • You buy through a bank or broker; a custodian holds your shares apart from the firm's own money.
    • National regulators (FSMA, BaFin, AMF, AFM, FINMA) license firms; ESMA coordinates across the EU.
    • Check any firm in your regulator's register before you open an account.

  4. Lección 4: Why prices move

    7 min

    Results, interest rates, news and mood. Why short-term moves are mostly noise, and what has driven prices over long periods.

    Puntos clave

    • Over days, prices move on news, rumours and mood.
    • Over many years, share prices have tended to follow company profits and interest rates: history, not a promise.
    • Nobody predicts short-term moves reliably, professionals included.

  5. Lección 5: Orders, spreads and liquidity

    7 min

    Buying and selling in plain words: market and limit orders, bid and ask, and why some things are easy to sell and others aren't.

    Puntos clave

    • A market order buys at the best price now; a limit order sets the most you'll pay (or the least you'll accept).
    • The gap between the buying and selling price, the spread, is a cost you pay every time.
    • Liquidity means you can sell quickly at a fair price; small shares, some bonds and property can be hard to sell.

  6. Lección 6: Bull, bear, crash and recovery

    7 min

    Markets rise and fall in long waves. What history shows about crashes and recoveries, and why to plan for falls before they come.

    Puntos clave

    • A "bear market" is a fall of 20% or more; smaller falls of 10% or more come more often.
    • Big falls came in 1987, 2000–02, 2008, 2020 and 2022; broad markets recovered in the past, sometimes only after many years, with no guarantee.
    • Decide what you'll do in a fall while markets are calm.

  7. Lección 7: How markets around the world are tied together

    7 min

    Asia opens, Europe follows, then New York. Why a fall in one market often spreads, and why big "local" companies are really global.

    Puntos clave

    • Trading follows the sun: Tokyo, then Frankfurt, Paris, Amsterdam, Brussels and Zurich, then New York.
    • In a crisis markets tend to fall together, so spreading across countries helps less on the worst days.
    • Many large European companies earn most of their money abroad, so home indexes are global too.

Qué encontrará

  • Vídeos breves: Unos dos minutos por lección
  • Cuestionarios: Tres preguntas después de cada lección
  • Calculadoras: Inflación, interés compuesto, fondo de emergencia y comisiones
  • Certificado: Por cada curso que complete

Las lecciones completas, los vídeos y los cuestionarios se abren tras un registro gratuito: su nombre, correo electrónico, móvil y un PIN. Sin tarjeta, sin compromiso.

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Educación financiera general. Hallycon Academy no gestiona dinero, no vende productos de inversión ni da asesoramiento personal. Los ejemplos no prometen ninguna rentabilidad.

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