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Essentials of Investments

ISBN10: 1265062005 | ISBN13: 9781265062002

Essentials of Investments

Essentials of Investments

ISBN10: 1265062005
ISBN13: 9781265062002
By Zvi Bodie, Alex Kane and Alan Marcus
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ISBN10: 1265062005 | ISBN13: 9781265062002

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This market-leading undergraduate investments textbook continues to evolve along with the changes in the financial markets yet remains organized around one basic theme—that security markets are nearly efficient, meaning that you should expect to find few obvious bargains in these markets. This text places great emphasis on asset allocation while presenting the practical applications of investment theory. The text also focuses on investment analysis, which allows us to present the practical applications of investment theory and convey practical value insights. A collection of Excel spreadsheets is provided to give you the tools to explore concepts more deeply. In their efforts to link theory to practice, the author team also makes their approach consistent with that of the CFA Institute. Included are questions from previous CFA exams in our end-of-chapter problems and CFA-style questions derived from the Kaplan-Schweser CFA preparation courses. 

PART ONE: ELEMENTS OF INVESTMENTS
 1.  Investments: Background and Issues
 2.  Asset Classes and Financial Instruments
 3.  Securities Markets
 4.  Mutual Funds and Other Investment Companies


PART TWO: PORTFOLIO THEORY
 5.  Risk, Return, and the Historical Record
 6.  Efficient Diversification
 7.  Capital Asset Pricing and Arbitrage Pricing Theory
 8.  The Efficient Market Hypothesis
 9.  Behavioral Finance and Technical Analysis


PART THREE: DEBT SECURITIES
 10. Bond Prices and Yields
 11. Managing Bond Portfolios


PART FOUR: SECURITY ANALYSIS
 12. Macroeconomic and Industry Analysis
 13. Equity Valuation
 14. Financial Statement Analysis


PART FIVE: DERIVATIVE MARKETS
 15. Options Markets
 16. Option Valuation
 17. Futures Markets and Risk Management


PART SIX: ACTIVE INVESTMENT MANAGEMENT
 18. Evaluating Investment Performance
 19. International Diversification
 20. Hedge Funds
 21. Taxes, Inflation, and Investment Strategy
 22. Investors and the Investment Process


APPENDIXES
 A.  References
 B.  References to CFA Questions

About the Author

Zvi Bodie

Zvi Bodie is Professor Emeritus at Boston University. He holds a PhD from the Massachusetts Institute of Technology and has served on the finance faculty at the Harvard Business School and MIT's Sloan School of Management. He has published widely in scholarly and professional journals on pension investment strategy and life-cycle asset-liability matching. In 2007 the Retirement Income Industry Association gave him its Lifetime Achievement Award for applied research.


Alex Kane

Alex Kune holds a PhD from the Stern School of Business of New York University and has been Visiting Professor at the Faculty of Economics, University of Tokyo; Graduate School of Business, Harvard; Kennedy School of Government, Harvard; and Research Associate, National Bureau of Economic Research. An author of many articles in finance and management journals. Professor Kane’s research is mainly in corporate finance, portfolio management. and capital markets.


Alan Marcus

Alan Marcus is the Mario J. Gabelli Professor of Finance in the Carroll School of Management at Boston College. He received his PhD in economics from MIT. Professor Marcus has been a visiting professor at the Athens Laboratory of Business Administration and at MIT's Sloan School of Management and has served as a research associate at the National Bureau of Economic Research. Professor Marcus has published widely in the fields of capital markets and portfolio management. He also spent two years at the Federal Home Loan Mortgage Corporation (Freddie Mac), where he developed models of mortgage pricing and credit risk.
He currently serves on the Research Foundation Advisory Board of the CFA Institute.

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