Designed for MBA and advanced undergraduate students taking a course in investments/introduction to finance/financial markets. These courses aim to introduce students to the financial markets and instruments (including money markets, fixed income, equities and FX markets). Investments provides an introduction to risk management and provides a real world flavour throughout. The authors include a lot of pedagogy, namely: chapter objectives summaries; end of chapter exercises; numerous real-world examples and case vignettes; Excel spreadsheets providing simulations for the reader; a glossary of terms; clear, simple and consistent mathematical notation.
Preface ix List of Symbols and Abbreviations xv PART 1: FINANCIAL MARKETS. CHAPTER 1 Markets and Players 3 CHAPTER 2 Raising Finance 19 CHAPTER 3 Financial Instruments 39 CHAPTER 4 Trading Securities 63 CHAPTER 5 Investment Companies 73 PART 2: VALUATION. CHAPTER 6 Valuation Techniques 85 CHAPTER 7 Cost of Capital 109 CHAPTER 8 Valuing Firms 125 PART 3: ASSET RETURNS AND PORTFOLIO THEORY. CHAPTER 9 Measuring Asset Returns 153 CHAPTER 10 Portfolio Theory 189 CHAPTER 11 International Portfolio Diversification 221 CHAPTER 12 Single-Index Model 239 CHAPTER 13 CAPM and APT 265 PART 4: EQUITY MARKETS. CHAPTER 14 Stock Valuation and the EMH 291 CHAPTER 15 Behavioural Finance and Anomalies 317 CHAPTER 16 Predicting Stock Returns 337 CHAPTER 17 Technical Trading Rules 353 PART 5: FOREIGN EXCHANGE MARKET. CHAPTER 18 Spot and Forward Markets 379 PART 6: FIXED-INCOME MARKETS. CHAPTER 19 Money Markets 417 CHAPTER 20 Bond Markets 439 CHAPTER 21 Term Structure of Interest Rates 465 CHAPTER 22 Bond Market Strategies 481 PART 7: DERIVATIVES. CHAPTER 23 Derivative Securities 507 CHAPTER 24 Futures Markets 533 CHAPTER 25 Options Markets 559 CHAPTER 26 Options Pricing 589 CHAPTER 27 Energy and Weather Derivatives 623 PART 8: PORTFOLIO MANAGEMENT. CHAPTER 28 Private Equity 645 CHAPTER 29 Performance of Mutual Funds 655 CHAPTER 30 Hedge Funds 675 CHAPTER 31 Market Risk and Value at Risk 697 Glossary 719 Internet Sites 741 References 745 Index 755
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