Essentials of Investments - 7th Edition - by Bodie, Zvi, Kane, Alex, MARCUS, Alan J. - ISBN 9780073368719

Essentials of Investments
7th Edition
Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher: McGraw-Hill Publishing Co.
ISBN: 9780073368719

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Book Details

Elements of Investments p. 1
Investments: Background and Issues p. 2
Real Assets versus Financial Assets p. 3
A Taxonomy of Financial Assets p. 5
Financial Markets and the Economy p. 6
The Investment Process p. 9
Markets Are Competitive p. 10
The Players p. 12
Recent Trends p. 15
Outline of the Text p. 19
Summary p. 20
Asset Classes and Financial Instruments p. 24
The Money Market p. 25
The Bond Market p. 30
Equity Securities p. 37
Stock and Bond Market Indexes p. 40
Derivative Markets p. 46
Summary p. 51
Securities Markets p. 55
How Firms Issue Securities p. 56
How Securities Are Traded p. 60
U.S. Securities Markets p. 66
Market Structure in Other Countries p. 71
Trading Costs p. 73
Buying on Margin p. 74
Short Sales p. 77
Regulation of Securities Markets p. 79
Summary p. 83
Mutual Funds and Other Investment Companies p. 89
Investment Companies p. 90
Types of Investment Companies p. 91
Mutual Funds p. 94
Costs of Investing in Mutual Funds p. 97
Taxation of Mutual Fund Income p. 102
Exchange-Traded Funds p. 103
Mutual Fund Investment Performance
Information on Mutual Funds p. 107
Summary p. 111
Portfolio Theory p. 115
Risk and Return: Past and Prologue p. 116
Rates of Return p. 117
Risk and Risk Premiums p. 120
The Historical Record p. 125
Inflation and Real Rates of Return p. 131
Asset Allocation across Risky and Risk-Free Portfolios p. 133
Passive Strategies and the Capital Market Line p. 139
Summary p. 142
Efficient Diversification p. 149
Diversification and Portfolio Risk p. 150
Asset Allocation with Two Risky Assets p. 152
The Optimal Risky Portfolio with a Risk-Free Asset p. 164
Efficient Diversification with Many Risky Assets p. 168
A Single-Factor Asset Market p. 171
Risk of Long-Term Investments p. 178
Summary p. 181
Capital Asset Pricing and Arbitrage Pricing Theory p. 192
The Capital Asset Pricing Model p. 193
The CAPM and Index Models p. 200
The CAPM and the Real World p. 209
Multifactor Models and the CAPM p. 211
Factor Models and the Arbitrage Pricing Theory p. 216
Summary p. 221
The Efficient Market Hypothesis p. 231
Random Walks and the Efficient Market Hypothesis p. 232
Implications of the EMl-1 p. 235
Are Markets Efficient? p. 240
Mutual Fund and Analyst Performance p. 250
Summary p. 256
Behavioral Finance and Technical Analysis p. 262
The Behavioral Critique p. 263
Technical Analysis and Behavioral Finance p. 273
Summary p. 282
Debt Securities p. 289
Bond Prices and Yields p. 290
Bond Characteristics p. 291
Bond Pricing p. 298
Bond Yields p. 302
Bond Prices over Time p. 308
Default Risk and Bond Pricing p. 312
The Yield Curve p. 318
Summary p. 324
Managing Bond Portfolios p. 333
Interest Rate Risk p. 334
Passive Bond Management p. 343
Convexity p. 350
Active Bond Management p. 353
Summary p. 358
Security Analysis p. 369
Macroeconomic and Industry Analysis p. 370
The Global Economy p. 371
The Domestic Macroeconomy p. 373
Interest Rates p. 375
Demand and Supply Shocks p. 376
Federal Government Policy p. 377
Business Cycles p. 379
Industry Analysis p. 385
Summary p. 393
Equity Valuation p. 401
Valuation by Comparables p. 402
Intrinsic Value versus Market Price p. 404
Dividend Discount Models p. 405
Price-Earnings Ratios p. 417
Free Cash Flow Valuation Approaches p. 427
The Aggregate Stock Market p. 430
Summary p. 432
Financial Statement Analysis p. 442
The Major Financial Statements p. 443
Accounting versus Economic Earnings p. 446
Profitability Measures p. 447
Ratio Analysis p. 449
Economic Value Added p. 457
An Illustration of Financial Statement Analysis p. 458
Comparability Problems p. 460
Value Investing: The Graham Technique p. 466
Summary p. 467
Derivative Markets p. 479
Option Markets p. 480
The Option Contract p. 481
Values of Options at Expiration p. 486
Option like Securities p. 499
Exotic Options p. 505
Summary p. 507
Option Valuation p. 517
Option Valuation: Introduction p. 518
Binomial Option Pricing p. 520
Black-Scholes Option Valuation p. 526
Using the Black-Scholes Formula p. 537
Empirical Evidence p. 542
Summary p. 543
Futures Markets and Risk Management p. 552
The Futures Contract p. 553
Mechanics of Trading in Futures Markets p. 558
Futures Market Strategies p. 563
The Determination of Futures Prices p. 566
Financial Futures p. 571
Swaps p. 577
Summary p. 579
Active Investment Management p. 587
Performance Evaluation and Active Portfolio Management p. 588
Risk-Adjusted Returns p. 589
Style Analysis p. 598
Morningstar's Risk-Adjusted Rating p. 599
Performance Attribution Procedures p. 601
The Lure of Active Management p. 605
Market Timing p. 608
Security Selection: The Treynor-Black Model p. 611
Summary p. 614
Globalization and International Investing p. 621
Global Markets for Equities p. 622
Risk Factors in International Investing p. 626
International Investing: Risk, Return, and Benefits from Diversification p. 635
How to Go About International Diversification and the Benefit We Can Expect p. 647
International Investing and Performance Attribution p. 649
Summary p. 653
Taxes, Inflation, and Investment Strategy p. 657
Saving for the Long Run p. 658
Accounting for Inflation p. 660
Accounting for Taxes p. 662
The Economics of Tax Shelters p. 664
A Menu of Tax Shelters p. 667
Social Security p. 671
Children's Education and Large Purchases p. 674
Home Ownership: The Rent-versus-Buy Decision p. 675
Uncertain Longevity and Other Contingencies p. 676
Matrimony, Bequest, and Intergenerational Transfers p. 677
Summary p. 678
Investors and the Investment Process p. 681
Investors and Objectives p. 682
Investor Constraints p. 688
Objectives and Constraints of Various
Investment Policies p. 691
Monitoring and Revising Investment
Summary p. 695
Appendixes
References p. 701
References to CFA Questions p. 707
Index
Table of Contents provided by Blackwell. All Rights Reserved.

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