Essentials of Investments: 2024 Release

ISBN10: 1265062005 | ISBN13: 9781265062002

By Zvi Bodie, Alex Kane and Alan Marcus

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ISBN10: 1265062005 | ISBN13: 9781265062002

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The market-leading undergraduate investments textbook, Essentials of Investments by Bodie, Kane, and Marcus, continually adapts to the dynamic shifts in financial markets while maintaining a core theme – that security markets are nearly efficient, meaning you shouldn't expect to find obvious bargains in these markets.

This text places significant emphasis on asset allocation, seamlessly integrating practical applications of investment theory. Focus on investment analysis allows the authors 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 commitment to bridging theory with practice, the author team aligns their approach with that of the CFA Institute. The inclusion of questions from previous CFA exams in the end-of-chapter problems, along with CFA-style questions derived from Kaplan-Schweser CFA preparation courses, link theoretical foundations to real-world scenarios. The addition of Integrated Excel assignments in the Connect platform rounds out the student success resources that include auto-graded problems, Tableau Dashboard Activities, and Smartbook, an adaptive reading and practice tool for students.

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 THRE:E 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

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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