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.

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Investments set the standardas a graduate (MBA) text intended primarily for courses in investment analysis.The guiding principle has been to present the material in a framework that isorganized by a central core of consistent fundamental principles and will introducestudents to major issues currently of concern to all investors. In an effort to link theory to practice, the authorsmake their approach consistent with that of the CFA Institute. Many features ofthis text make it consistent with and relevant to the CFA curriculum.

The common unifying theme is that securitymarkets are nearly efficient, meaning that most securities are priced appropriately given their risk and return attributes. Investments is alsoorganized around several important themes: The central theme is the near informational-efficiency of well-developed security markets and the general awareness that competitive markets do not offer "free lunches" to participants. A second theme is the risk-return trade-off. Also, this text places great emphasis on asset allocation. Finally, this text offers a broad and deep treatment of futures, options, and other derivative security markets.

Contenu

PART I: Introduction Chapter 1: The Investment Environment Chapter 2: Asset Classes and Financial Instruments Chapter 3: How Securities Are Traded Chapter 4: Mutual Funds and Other InvestmentCompanies

PART II: Portfolio Theory and Practice Chapter 5: Risk, Return, and the HistoricalRecord Chapter 6: Capital Allocation to Risky Assets Chapter 7: Efficient Diversification Chapter 8: Index Models

PART III: Equilibrium in Capital Markets Chapter 9: The Capital Asset Pricing Model Chapter 10: Arbitrage Pricing Theory andMultifactor Models of Risk and Return Chapter 11: The Efficient Market Hypothesis Chapter 12: Behavioral Finance and TechnicalAnalysis Chapter 13: Empirical Evidence on SecurityReturns

PART IV: Fixed-Income Securities Chapter 14: Bond Prices and Yields Chapter 15: The Term Structure of Interest Rates Chapter 16: Managing Bond Portfolios

PART V: Security Analysis Chapter 17: Macroeconomic and Industry Analysis Chapter 18: Equity Valuation Models Chapter 19: Financial Statement Analysis PART VI: Options, Futures, and Other Derivatives Chapter 20: Options Markets: Introduction Chapter 21: Option Valuation Chapter 22: Futures Markets Chapter 23: Futures, Swaps, and Risk Management PART VII: Applied Portfolio Management Chapter 24: Portfolio Performance Evaluation Chapter 25: International Diversification Chapter 26: Alternative Assets Chapter 27: The Theory of Active PortfolioManagement Chapter 28: Investment Policy and the Frameworkof the CFA Institute

REFERENCES TO CFA PROBLEMS

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