New edition of a text that presents the basic principles of investing and also addresses many of the changes in the investment environment. The 27 chapters are organized around the idea that well-developed security markets are, for the most part, efficient. They also emphasize that higher expected returns come at the price of bearing greater risk, and present techniques for managing this risk such as diversification and asset allocation. Topics include modern portfolio theory and its implications for the equilibrium structure of expected rates of return on risky assets, security valuation, equity securities, and derivative assets. Annotation c. Book News, Inc., Portland, OR (booknews.com)


TABLE OF CONTENTS

Pt. I Introduction
Pt. II Portfolio Theory
Pt. III Equilibrium in Capital Markets
Pt. IV Fixed-Income Securities
Pt. V Security Analysis
Pt. VI Options, Futures, and Other Derivatives
Pt. VII Active Portfolio Management

Appendix A: Quantitative Review
Appendix B: CFA Citations
Glossary
Name Index
Subject Index