The article discusses equity markets, which are part of the capital market for long-term finance. It looks at how private firms raise money through selling stocks. The primary market is where new stocks are issued, while the secondary market is where existing stocks are traded. The article also talks about global stock market crashes in 1987 and the late 1990s. It questions whether stock markets are efficient. In London, there are two markets: the London Stock Exchange for established companies and the Alternative Investments Market.