For undergraduate and graduate courses in Investments.
This book provides a solid theoretical framework around which to build practical knowledge of securities and securities markets. The authors, including a Nobel Prize winner and a full-time practitioner, offer a balanced presentation of theory and practice as they explain to students the essentials of prominent investment concepts. Just as importantly, they illustrate how professional investors apply those concepts. This edition distills the growing complexity of the investment environment, enumerating and describing todays various securities and markets in a clear, concise manner and integrating discussions of new investment management techniques. This book represents a revolutionary change in how investments books are written.
Features and Benefits
NEW - Spreadsheet modeling used as the primary pedagogical tool - Spreadsheet modeling has become the dominant analytical tool used by investment professionals, replacing the use of calculators. There are exhibits where various investment principles are illustrated through the use of spreadsheets. - Allows for more practical real-world applications and a better hands-on learning approach, beginning with simpler models and then building upon them.
NEW - Updated material - Keeps students abreast of the latest developments in investments.
NEW - Expanded problems on CD that incorporate Excel applications.
A chapter on efficient markets - Discusses the notion of market efficiency that underlies much of the current thinking about the world of investing.
Institutional Issues boxes - Profile issues that face large institutional investors, such as pension funds and mutual funds - Illustrate for students how concepts are applied in the real world.
End-of-chapter problem sets and CFA examination questions - Offer students a better opportunity to learn the material and prepare for the CFA examinations.
A statistical concepts appendix - Explains to students certain basic statistical topics that are fundamental to understanding the world of investments.
Coverage of financial analysis - Includes a real-life corporate example.
A large number of annotated references - Provides students with resources to pursue further study of subjects presented in the text.
A fresh, stimulating approach to investments - Offers students and instructors the most thorough survey of the investment environment available.
A comprehensive treatment of prominent financial instruments, securities markets, and investment management techniques.
An evenly balanced discussion of theory and practice.
Numerous examples integrated into the presentation of investment concepts - Enhances students' grasp of the material.
Bulleted summaries, key terms, over twenty questions and problems, and extensive annotated references included in each chapter.
Written primarily for students with stronger backgrounds in economics, statistics and accounting.
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