Investments

Michael G. McMillan , CFA 지음

Wiley 2011년 01월 11일 출간

작품소개

책소개

A comprehensive guide to investment analysis and portfolio management by an expert team from the CFA InstituteIn a world of specialization, no other profession likely requires such broad, yet in-depth knowledge than that of financial analyst. Financial analysts must not only possess a broad understanding of the financial markets-including structure, organization, efficiency, portfolio management, risk and return, and planning and construction-but they must also have a strong sense of how to evaluate industries and companies prior to engaging in an analysis of a specific stock. Investments: Principles of Portfolio and Equity Analysis provides the broad-based knowledge professionals and students of the markets need to manage money and maximize return. The bookDetails market structure and functions, market anomalies, secondary market basics, and regulationDescribes investment assets and asset classes, types of positions and orders, as well as forecasting methodologiesDiscusses return and risk characteristics, portfolio diversification and management, the basics of both technical analysis and major technical indicators, and much moreA companion Workbook, which includes learning outcomes, summary overviews, and problems and solutions sections is available and sold separatelyInvestments provides readers unparalleled access to the best in professional quality information on investment analysis and portfolio management.

목차

Foreword xiiiAcknowledgments xvIntroduction xviiCHAPTER 1 Market Organization and Structure 1Learning Outcomes 11. Introduction 12. The Functions of the Financial System 23. Assets and Contracts 104. Financial Intermediaries 245. Positions 356. Orders 417. Primary Security Markets 478. Secondary Security Market and Contract Market Structures 519. Well-Functioning Financial Systems 5610. Market Regulation 5811. Summary 61CHAPTER 2 Security Market Indices 73Learning Outcomes 731. Introduction 732. Index Definition and Calculations of Value and Returns 753. Index Construction and Management 784. Uses of Market Indices 905. Equity Indices 916. Fixed-Income Indices 947. Indices for Alternative Investments 968. Summary 101CHAPTER 3 Market Efficiency 109Learning Outcomes 1091. Introduction 1092. The Concept of Market Efficiency 1113. Forms of Market Efficiency 1184. Market Pricing Anomalies 1245. Behavioral Finance 1316. Summary 134CHAPTER 4 Portfolio Management: An Overview 139Learning Outcomes 1391. Introduction 1392. A Portfolio Perspective on Investing 1403. Investment Clients 1494. Steps in the Portfolio Management Process 1565. Pooled Investments 1606. Summary 172CHAPTER 5 Portfolio Risk and Return: Part I 175Learning Outcomes 1751. Introduction 1752. Investment Characteristics of Assets 1763. Risk Aversion and Portfolio Selection 2004. Portfolio Risk 2095. Efficient Frontier and Investor&-s Optimal Portfolio 2226. Summary 234CHAPTER 6 Portfolio Risk and Return: Part II 243Learning Outcomes 2431. Introduction 2432. Capital Market Theory 2443. Pricing of Risk and Computation of Expected Return 2564. The Capital Asset Pricing Model 2675. Beyond the Capital Asset Pricing Model 2846. Summary 287CHAPTER 7 Basics of Portfolio Planning and Constructi

작가정보

저자(글) Michael G. McMillan

저자 :

저자 :

저자 :

저자 :

저자 :
저자 :
저자 :
MICHAEL G. MCMILLAN, CFA is Director, Ethics and Professional Standards in the Education Division of CFA Institute. Dr. McMillan joined CFA Institute in 2008 after more than a decade as a professor of accounting and finance at Johns Hopkins University's Carey Business School and The George Washington University's School of Business. He has a doctorate in accounting and finance from The George Washington University, an MBA from Stanford University, and a BA from the University of Pennsylvania. Dr. McMillan is a member of the CFA Society of Washington, DC and the East African Society of Investment Professionals.JERALD E. PINTO, CFA is Director, Curriculum Projects, in the Education Division of CFA Institute. Before coming to CFA Institute in 2002, he consulted to corporations, foundations, and partnerships in investment planning, portfolio analysis, and quantitative analysis. He has also worked in the investment and banking industries in New York City and taught finance at New York University's Stern School of Business. He holds an MBA from Baruch College, a PhD in finance from the Stern School, and earned his CFA charter in 1992.WENDY L. PIRIE, CFA is Director, Curriculum Projects, in the Education Division of CFA Institute. Prior to joining CFA Institute in 2008, she taught finance, accounting, statistics, taxation, business law, and marketing for over twenty years at both large and small, public and private universities, religious colleges, and military academies. Her work has been published in Journal of Financial Research and Journal of Economics and Finance. She holds a PhD from Queen's University in Kingston, Ontario and MBAs fromthe Universities of Toronto and Calgary.GERHARD VAN DE VENTER, CFA is Deputy Head of the School of Finance and Economics at University of Technology, Sydney. He was previously director, Curriculum Projects, in the Education Division of CFA Institute. He began his career in South Africa as a financia

저자(글) CFA