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Part: 1 Background > Direct versus Indirect Investing

Chapter 2. Direct versus Indirect Investing

Basically, households have three choices with regard to savings options:

  1. Hold the liabilities of traditional intermediaries, such as banks, thrifts, and insurance companies. This means holding savings accounts, money market deposit accounts (MMDAs), and so forth.

  2. Hold securities directly, such as stocks and bonds purchased directly through brokers and other intermediaries.

  3. Hold securities indirectly, through mutual funds and pension funds.


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