Liquidity 101 refers to the basic principles and understanding of liquidity—a key concept in finance and economics. Here’s a simple breakdown:
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🧾 What is Liquidity?
Liquidity is the ease with which an asset can be quickly converted into cash without significantly affecting its price.
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🔑 Types of Liquidity
1. Market Liquidity
How easily assets can be bought/sold in a market.
Example: Stocks of large companies are highly liquid; real estate is less liquid.
2. Accounting Liquidity
A company's ability to meet its short-term obligations.
Measured using ratios (e.g., Current Ratio, Quick Ratio).
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💰 Examples of Liquid & Illiquid Assets
Highly Liquid Moderately Liquid Illiquid
Cash Stocks Real Estate
Bank deposits Mutual Funds Private Equity
Treasury bills Corporate Bonds Art/Collectibles
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📊 Key Liquidity Ratios
1. Current Ratio = Current Assets / Current Liabilities
Measures short-term financial health.
2. Quick Ratio = (Current Assets - Inventory) / Current Liabilities
A more stringent liquidity test.
3. Cash Ratio = Cash / Current Liabilities
Measures ability to pay with only cash.
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🧠 Why Liquidity Matters
For Individuals: Easy access to funds in emergencies.
For Businesses: Meeting payroll, paying suppliers, avoiding insolvency.
For Investors: Ability to exit positions without large price drops.
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🚨 Liquidity Risk
The risk that an asset or firm cannot be sold or funded quickly enough to prevent a loss.
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