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.
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