Essentials of Investments

A book by Zvi Bodie, Boston University. Alex Kane, University of California, San Diego. Alan J. Marcus, Boston College, ISBN


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An investment is the current commitment of money or other resources in the expectation of reaping future benefits. For example, an individual might purchase shares of stock anticipating that the future proceeds from the shares will justify both the time that her money is tied up as well as the risk of the investment. The time you will spend studying this text (not to mention its cost) also is an investment. You are forgoing either current leisure or the income you could be earning at a job in the expectation that your future career will be sufficiently enhanced to justify this commitment of time and effort. While these two investments differ in many ways, they share one key attribute that is central to all investments: You sacrifice something of value now, expecting to benefit from that sacrifice later.



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Essentials of Investments by Zvi Bodie, Boston University. Alex Kane, University of California, San Diego. Alan J. Marcus, Boston College

777
Pages
2004
Published in
$ FREE
Average price
4.8
Rating


Essentials of Investments book PDF free download


The last decade has been one of rapid, profound, and ongoing change in the investments industry. This is due in part to an abundance of newly designed securities, in part to the creation of new trading strategies that would have been impossible without concurrent advances in computer and communications technology, and in part to continuing advances in the theory of investments. Of necessity, our text has evolved along with the financial markets. In this edition, we address many of the changes in the investment environment. At the same time, many basic principles remain important. We continue to organize our book around one basic theme—that security markets are nearly efficient, meaning that most securities are usually priced appropriately given their risk and return attributes. There are few free lunches found in markets as competitive as the financial market. This simple observation is, nevertheless, remarkably powerful in its implications for the design of investment strategies, and our discussions of strategy are always guided by the implications of the efficient markets hypothesis. While the degree of market efficiency is, and will always be, a matter of debate, we hope our discussions throughout the book convey a good dose of healthy criticism concerning much conventional wisdom. This text also continues to emphasize asset allocation more than most other books. We prefer this emphasis for two important reasons. First, it corresponds to the procedure that most individuals actually follow when building an investment portfolio. Typically, you start with all of your money in a bank account, only then considering how much to invest in something riskier that might offer a higher expected return. The logical step at this point is to consider other risky asset classes, such as stock, bonds, or real estate. This is an asset allocation decision. Second, in most cases the asset allocation choice is far more important than specific security-selection decisions in determining overall investment performance. Asset allocation is the primary determinant of the risk-return profile of the investment portfolio, and so it deserves primary attention in a study of investment policy. Our book also focuses on investment analysis, which allows us to present the practical applications of investment theory, and to convey insights of practical value. In this edition of the text, we have continued to expand a systematic collection of Excel spreadsheets that give you tools to explore concepts more deeply than was previously possible. These spreadsheets are available through the World Wide Web, and provide a taste of the sophisticated analytic tools available to professional investors. In our efforts to link theory to practice, we also have attempted to make our approach consistent with that of the Institute of Chartered Financial Analysts (ICFA). The ICFA administers an education and certification program to candidates for the title of Chartered Financial Analyst (CFA). The CFA curriculum represents the consensus of a committee of distinguished scholars and practitioners regarding the core of knowledge required by the investment professional. This text will introduce you to the major issues currently of concern to all investors. It can give you the skills to conduct a sophisticated assessment of current issues and debates covered by both the popular media as well as more specialized finance journals. Whether you plan to become an investment professional, or simply a sophisticated individual investor, you will find these skills essential.

Essentials of Investments reviews
Lawrence H. New York

You can`t run busness without reading Essentials of Investments by Zvi Bodie, Boston University. Alex Kane, University of California, San Diego. Alan J. Marcus, Boston College. Nuff said.
Essentials of Investments reviews
clar Prague

WOW. "Essentials of Investments"" is a really good one on this topic. Honestly, haven`t read any other books from Zvi Bodie, Boston University. Alex Kane, University of California, San Diego. Alan J. Marcus, Boston College, but he seems to be real genius!
Essentials of Investments reviews
Michael Alex W. London

Thanks Zvi Bodie, Boston University. Alex Kane, University of California, San Diego. Alan J. Marcus, Boston College - the book PDF is insightful and definitely makes sense.
Essentials of Investments reviews
Jack Dawkins Massachusetts

Surely Essentials of Investments is among the must-read books for every entrepreneur. Bravo Zvi Bodie, Boston University. Alex Kane, University of California, San Diego. Alan J. Marcus, Boston College!
Essentials of Investments reviews
yourlawyer2020 Smith New Orleans

well...Essentials of Investments is surely the best I`ve read on the topic
Essentials of Investments reviews
Lucia Melbourne

I really enjoyed this book - Zvi Bodie, Boston University. Alex Kane, University of California, San Diego. Alan J. Marcus, Boston College did an awesome job! Probably Essentials of Investments is the best book I read last years
Essentials of Investments reviews
Jenny Putz Cox Wilmington

Essentials of Investments ebook is a good option. I wouldn`t recommend to buy a hardcover, but for me the digital version worked well. Zvi Bodie, Boston University. Alex Kane, University of California, San Diego. Alan J. Marcus, Boston College is a top-level prefessional!