Investments: Analysis and Management
Kaup valmöguleikar
Explains the essentials of investing and develops the analytical skills necessary for evaluating investment issues More than a simple introduction to the subject, Investments: Analysis and Management prepares students to tackle real-world investment problems and controversies using a systematic, highly practical approach. Emphasizing clarity and readability, authors Gerald Jensen and Tyler Jensen minimize complex formulas and simplify difficult material, enabling students of all levels and backgrounds to follow the entire discussion and further explore the subject.
Carefully organized chapters guide students through fundamental investing concepts, portfolio theory, common stock analysis and valuation, fixed-income and derivative securities, the essentials of security analysis and portfolio management, and more. A full complement of classroom-tested pedagogical tools, including bulleted summaries, numbered examples, spreadsheet exercises, computational problems, and chapter review questions, supports and strengthens student comprehension and retention of all material covered.
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- Wiley Global Education US
- 9781394243754
- 9781394243785
- ePub
- 15
- Gerald R. Jensen; Tyler K. Jensen
- English
- 12/2024
- 100
- 10
- 2
Kaflar
- Cover
- Table of Contents
- Title Page
- Copyright
- Preface
- CHAPTER 1: Understanding Investments
- An Overall Perspective on Investing
- Establishing a Framework for Investing
- A Perspective on Investing
- The Importance of Studying Investments
- Understanding the Investment Process
- Structuring the Decision Process
- Important Considerations in Investing
- Organizing the Text
- Summary
- Notes
- CHAPTER 2: Investment Alternatives
- Organizing Financial Assets
- A Global Perspective
- Nonmarketable Financial Assets
- Money Market Securities
- Checking Your Understanding
- Capital Market Securities
- Fixed‐Income Securities
- Equity Securities
- Derivative Securities
- A Final Note
- Summary
- Notes
- CHAPTER 3: Indirect Investing
- Investing Indirectly
- What Is an Investment Company?
- Major Types of Investment Companies
- Types of Mutual Funds
- The Net Asset Value per Share
- The Details of Indirect Investing
- Investment Company Performance
- Investing Internationally through Investment Companies
- The Future of Indirect Investing
- Hedge Funds
- Summary
- Notes
- CHAPTER 4: Securities Markets and Market Indexes
- The Importance of Financial Markets
- The Primary Markets
- The Secondary Markets
- Stock Market Indexes
- Bond Markets
- Derivatives Markets
- The Globalization of Markets
- Summary
- Questions
- Problems
- Computational Problems
- Spreadsheet Exercises
- Checking Your Understanding
- Notes
- CHAPTER 5: How Securities Are Traded
- Introduction
- Brokerage Transactions
- How Orders Work
- Investor Protection
- Margin
- Short Sales
- Summary
- Questions
- Problems
- Computational Problems
- Spreadsheet Exercises
- Checking Your Understanding
- Notes
- CHAPTER 6: The Risk and Return from Investing
- An Overview
- Return
- Measuring Returns
- A Global Perspective
- Summary Statistics for Returns
- Risk
- Measuring Risk
- Realized Returns and Risks from Investing
- Compounding and Discounting
- Summary
- Questions
- Demonstration Problems
- Problems
- Computational Problems
- Spreadsheet Exercises
- Checking Your Understanding
- Notes
- CHAPTER 7: Portfolio Theory
- Dealing With Uncertainty
- Modern Portfolio Theory
- Portfolio Return and Risk
- Analyzing Portfolio Risk
- The Components of Portfolio Risk
- Calculating Portfolio Risk
- Obtaining the Data
- Summary
- Questions
- Problems
- Computational Problems
- Spreadsheet Exercises
- Checking Your Understanding
- Notes
- CHAPTER 8: Portfolio Selection and Asset Allocation
- Building a Portfolio
- International Diversification
- Points about the Markowitz Model
- The Asset Allocation Decision
- Asset Allocation and the Individual Investor
- The Impact of Diversification on Risk
- Diversification and Asset Pricing
- Summary
- Questions
- Problems
- Spreadsheet Exercises
- Checking Your Understanding
- Notes
- CHAPTER 9: Capital Market Theory and Asset Pricing Models
- Capital Market Theory
- The Capital Market Line
- Systematic Risk and Beta
- The Capital Asset Pricing Model (CAPM)
- Checking Your Understanding
- Arbitrage Pricing Theory
- Other Prominent Factor Models
- Some Conclusions about Asset Pricing
- Summary
- Questions
- CFA
- CFA
- Demonstration Problems
- Problems
- Computational Problems
- Spreadsheet Exercises
- Checking Your Understanding
- Notes
- CHAPTER 10: Common Stock Valuation
- Overview
- Discounted Cash Flow Models
- The Dividend Discount Model
- Growth Rate Cases for the DDM
- Checking Your Understanding
- Other Discounted Cash Flow Approaches
- The Multiplier Approach
- Other Multipliers
- Relative Valuation Metrics
- Which Approach to Use?
- Bursting the Bubble—A Lesson in Valuation
- Some Final Thoughts on Valuation
- Summary
- Questions
- Demonstration Problems
- Problems
- Computational Problems
- Spreadsheet Exercises
- Checking your Understanding
- Notes
- CHAPTER 11: Common Stocks: Analysis and Strategy
- A Global Perspective
- The Impact of the Overall Market on Stocks
- Building Stock Portfolios
- Checking Your Understanding
- The Passive Strategy
- Checking Your Understanding
- The Active Strategy
- Checking Your Understanding
- Rational Markets and Active Strategies
- Summary
- Questions
- Problems
- Computational Problems
- Spreadsheet Exercises
- Checking Your Understanding
- Notes
- CHAPTER 12: Market Efficiency
- Overview
- The Concept of an Efficient Market
- How to Test for Market Efficiency
- Market Anomalies
- Behavioral Finance
- Some Conclusions about Market Efficiency
- Summary
- Questions
- Problems
- Checking Your Understanding
- Notes
- CHAPTER 13: Economy/Market Analysis
- Introduction
- Taking a Global Perspective
- Assessing the Economy
- The Stock Market and the Economy
- Understanding the Stock Market
- Making Market Forecasts
- Questions
- Problems
- Computational Problems
- Spreadsheet Exercises
- Checking Your Understanding
- Notes
- CHAPTER 14: Sector/Industry Analysis
- Introduction
- What Is an Industry?
- The Importance of Industry Analysis
- Industry Performance Over Shorter Periods
- The Telecom Industry as an Example
- Analyzing Sectors/Industries
- Using Sector/Industry Analysis
- Summary
- Questions
- Checking Your Understanding
- Notes
- CHAPTER 15: Company Analysis
- Fundamental Analysis
- The Accounting Aspects of Earnings
- The Problems with EPS
- Checking Your Understanding
- Using FCF, ROE, and EPS
- Earnings Estimates
- The Multiplier
- Fundamental Security Analysis in Practice
- Summary
- Questions
- Problems
- Computational Problems
- Spreadsheet Exercises
- Checking Your Understanding
- Notes
- CHAPTER 16: Technical Analysis
- Introduction
- What Is Technical Analysis?
- Stock Price and Volume Techniques
- Technical Indicators
- Testing Technical Analysis Strategies
- The Ebb and Flow of Technical Analysis
- Conclusions about Technical Analysis
- Summary
- Questions
- Computational Problems
- Checking Your Understanding
- Notes
- CHAPTER 17: Bond Yields and Prices
- Introduction
- Interest Rates and Bond Yields
- Measuring Bond Yields
- Bond Prices
- Bond Price Changes
- Summary
- Questions
- Problems
- Computational Problems
- Spreadsheet Exercises
- Checking Your Understanding
- Notes
- CHAPTER 18: Bonds: Analysis and Strategy
- Why Buy Bonds?
- Managing a Bond Portfolio
- Bond Strategies and Techniques
- Passive Management Strategies
- Active Management Strategies
- Managing Price Volatility
- Immunization
- Summary
- Questions
- Problems
- Computational Problems
- Spreadsheet Exercises
- Checking Your Understanding
- Notes
- CHAPTER 19: Options
- Why Have Derivative Securities?
- Introduction to Options
- Understanding Options
- Payoffs and Profits from Options
- Some Basic Options Strategies
- Option Valuation
- Investor Perspective on Puts and Calls
- Stock Index Options
- Summary
- Notes
- CHAPTER 20: Futures Contracts
- An Overview of Futures Markets
- The Structure of Futures Markets
- The Mechanics of Trading
- Using Futures Contracts
- Financial Futures
- Pricing Futures Contracts
- Summary
- Questions
- Problems
- Computational Problems
- Checking Your Understanding
- Notes
- CHAPTER 21: Managing Your Financial Assets
- Investing in Financial Assets
- Managing Your Financial Assets
- Formulate an Investment Strategy
- Investor Objectives
- Issues in Financial Planning
- Investor Expectations and the Financial Plan
- Implementing Investing Strategies
- Basic Investment Management Strategies
- Financial Planning on an Ongoing Basis
- Rebalancing a Portfolio
- Assessing Your Financial Plan's Success
- Summary
- Questions
- Spreadsheet Exercises
- Checking Your Understanding
- Notes
- CHAPTER 22: Evaluating Investment Performance
- Assessing Portfolio Performance
- Performance Measurement Issues
- Risk‐Adjusted Performance Measures
- Jensen's Alpha
- Information Ratio
- M2
- Sortino Ratio
- Measures of Downside Risk
- Style Analysis and Performance Attribution
- Performance Presentations
- Performance Evaluation Overview
- Summary
- Questions
- Problems
- Computational Problems
- Spreadsheet Exercises
- Checking Your Understanding
- Notes
- Glossary
- Index
- End User License Agreement