Modern Investment Theory

Klappentext
Customized directly to match the problems in the text, this new windows-based software enables students to easily and immediately see the effects of changing assumptions on the structure of asset allocation, expected returns to industries and asset classes, performance evaluation and many other investment decisions.

Zusammenfassung
Offers accurate coverage of investments, with an emphasis on portfolio theory. This book includes discussion of capital asset pricing, arbitrage pricing, pricing of derivative securities, interest rates, and bond management. It is intended for the introductory graduate or intermediate undergraduate courses in Investments and Finance Theory.

Inhalt
I. BACKGROUND.  1. Introduction to Modern Investment Theory.
 2. Securities and Markets.
 3. Some Statistical Concepts.
 4. Combining Individual Securities into Portfolios.
II. PORTFOLIO MANAGEMENT.  5. Finding the Efficient Set.
 6. Factor Models.
 7. Asset Allocation.
III. ASSET PRICING THEORIES AND PERFORMANCE MEASUREMENT.  8. The Capital Asset Pricing Model.
 9. Empirical Tests of the Asset Pricing Model.
10. The Arbitrage Pricing Theory.
11. Measuring Portfolio Performance with Asset Pricing Models.
12. Measuring Performance without Asset Pricing Models.
IV. INTEREST RATES AND BOND MANAGEMENT. 13. The Level of Interest Rates.
14. The Term Structure of Interest Rates.
15. Bond Portfolio Management.
16. Interest Immunization.
V. DERIVATIVE SECURITIES. 17. European Option Pricing.
18. American Option Pricing.
19. Additional Issues in Option Pricing.
20. Financial Forward and Futures Contracts.
VI. TAXES, STOCK VALUATION, AND MARKET EFFICIENCY. 21. The Effect of Taxes on Investment Strategy and Securities Prices.
22. Stock Valuation.
23. Issues in Estimating Future Earnings and Dividends.
24. Market Efficiency: The Concept.
25. Market Efficiency: The Evidence.

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