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The purpose of this book is to help you learn how to manage your money to derive the maximum benefit from what you earn. Mixing investment instruments and capital markets with the theoretical detail on evaluating investments and opportunities to satisfy riskreturn objectives along with how investment practice and theory is influenced by globalization leaves readers with the mindset on investments to serve them well. The material is intended to be rigorous and empirical yet not overly quantitative. We continue with unparalleled international coverage, newly rewritten and reorganized derivatives material to be more intuitive and clearer, three additional chapters on derivatives pricing for those who want more detail, rewritten material on multifactor models of risk and return, and new CFA problems for more practice on computations concerning investment decisions. To manage money and investments, one needs to learn about investment alternatives and develop a way of analyzing and thinking about investments that will be of benefit and allow a foundation as new tools and investment opportunities become available. Reilly/Brown provide the best foundation, used extensively by professionals, organizations, and schools across the country. A great source for those with both a theoretical and practical need for investment expertise.The seventh edition from this widely respected author team, continues its empirical approach to explaining classic and current, realworld investment practice. Ideal for graduate level courses, the text emphasizes investment alternatives and teaches users how to analyze these choices and manage their portfolio. The text also offers excellent coverage of portfolio theory, capital market theory, security analysis, and international investments. The best has gotten better!Unique FeaturesComplete Integration: Integration of international investment markets and topics gives the text a truly global perspective and exposes students to international issues that have become an integral part of investments.Comprehensive and current coverage: Both classic and modern empirical studies.Introductory Chapter: Chapter 11 on derivatives as well as complete coverage in Section VI (Chs. 23,24,25), beginning with a chapter on futures reflecting the practice of realworld professionals, who consider futures first when solving risk issues. Students gain a firm understanding of future before covering options in a second chapter. Extended topics warrants, convertibles, swaps, caps, floors are then covered in the third chapter of the section.Chapter 2, The Asset Allocation Decision: Chapter offers an overview of portfolio management, illustrating how to match a client`s risk preferences and return goals with different investment options.Coverage of risk/return tradeoffs: Integrated throughout the text as an underlying theme.Revised Chapters: Chapters are revised for flexibility in order of coverage.Expanded coverage: Coverage of ethics and international issues throughout the text.Problems: Increased endofchapter numerical and CFA problems while existing ones have been updated.WWW: WWW sites included within each chapter as well as more realworld examples throughout. Internet problems have been added to the text and ancillaries. The Dryden Press Web Site will feature additional problems, an investment game, resources, cases, and business press articles.Chapter 11, An Overview of Derivative Markets: This chapter has been revised to be more introductory in orientation and contains more examples. Coverage of the fundamentals of forwards, futures, options, and parity relationships between derivative contracts has been broadened.Updated Coverage of Valuation: Chapters 13 and 14 include the latest theories in valuation and asset allocation.Updated Chapter 22: Chapter 22 now includes completely new material on equity portfolio strategies and features an indepth analysis of the differences between valueoriented and growthoriented investments styles. There is also a new section on style analysis.Fundamental Option Valuation: Greatly expanded coverage of fundamental of option valuation in Chapter 24, including both binomial and BlackScholes models, a new section on valuation of exotic option contracts, and new material on optionbased investment strategies.Expanded Chapter 26: Previous coverage of mutual funds is now supplemented by new material on private equity management. Full coverage is provided on professional money management, public and private.
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