Primary, Secondary and Tertiary Markets: How They Play a Role in Your Investment Strategy.
There is no set industry consensus on the definition of a primary, secondary or tertiary market. Aside from the overall ambiguity of the terms, there are a broadly recognized set of characteristics that help investors define a market. It is important to understand how your strategy fits within a particular market because not all strategies are optimal for a market and not all markets are germane to your strategy. Being able to identify specific market characteristics will ena