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Modern Investment Theory , 5/e

Modern Investment Theory , 5/E
(order desk copy)

Robert A Haugen, University of California, Irvine

This text offers accurate and intuitive coverage of investments, with an emphasis on portfolio theory. It includes extensive discussion of capital asset pricing, arbitrage pricing, pricing of derivative securities, interest rates, and bond management. Stock valuation, estimating future earnings and dividends, and fixed income markets are closely examined. Calculus is useful, but not required, since it is used only in the appendixes to the main discussions in the chapters.
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Features | Preface | Table of Contents | Supplements | About the Authors


Features

  • NEW - Version of Pmanager software available FREE on the Internet (CLICK ON SUPPLEMENTS LINK ABOVE TO DOWNLOAD).
    • 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 investment decisions.
  • NEW - Chapter on performance measurement tools.
    • Shows students how to measure performance without need for asset pricing model assumptions on these models.
  • NEW - Chapter on asset allocation.
  • NEW - Two new mini case-studies, "Out-on-the-Street" scenarios have been added.
    • Enables students to apply techniques to real-world situations.
  • NEW - Expanded glossary.
    • Offers students access to key terms.
  • NEW - More end-of-chapter computer-based problems.
    • Reinforces material and enables students to use Pmanager.
  • UNIQUE - Complete and detailed coverage of portfolio theory (4, 5, 10) - Including a unique graphical explanation of the Markowitz procedure and asset allocation back up by in-text computer problems that are fully integrated into the text.
    • Reflects current industry trends of using computer models to forecast assumptions based on these models.
  • UNIQUE - Issues related to capital asset pricing are covered in great detail.
    • Capital Asset Pricing Model (CAPM) and the Arbitrage Pricing Theory (APT) model are covered not only in how to use these models, but also their weaknesses and strengths.
    • Students will better know which models to consider when making investment decisions.
  • UNIQUE - Four chapters on interest rates and bond management.
    • Students are better prepared for today's environment where the volatility of interest rates in recent years has increased both the complexity and excitement of bond portfolio management.
  • Options and forward and futures contracts receive extensive coverage.
    • Exposes students to current contracts that are becoming very popular to use in investments.
  • Extensive use of graphics.


Features | Preface | Table of Contents | Supplements | About the Authors | Top


Preface

Coming Soon!


Features | Preface | Table of Contents | Supplements | About the Authors | Top


Table of Contents

  1. BACKGROUND
    1. Introduction to Modern Investment Theory.
    2. Securities and Markets.
    3. Some Statistical Concepts.
  2. PORTFOLIO MANAGEMENT
    1. Combining Individual Securities into Portfolios.
    2. Finding the Efficient Set.
    3. Factor Models.
    4. Asset Allocation.
  3. ASSET PRICING THEORIES AND PERFORMANCE MEASUREMENT
    1. The Capital Asset Pricing Model.
    2. Empirical Tests of the Asset Pricing Model.
    3. The Arbitrage Pricing Theory.
    4. Measuring Performance with Asset Pricing Models.
    5. Measuring Performance without Asset Pricing Models.
  4. INTEREST RATES AND BOND MANAGEMENT
    1. The Level of Interest Rates.
    2. The Term Structure of Interest Rates.
    3. Bond Portfolio Management.
    4. Duration and Interest Immunization.
  5. DERIVATIVE SECURITIES
    1. European Option Pricing.
    2. American Option Pricing.
    3. Issues in Option Pricing.
    4. Forward and Futures Contracts.
  6. TAXES STOCK VALUATION, AND MARKET EFFICIENCY
    1. The Effect of Taxes on Strategy and Market Pricing.
    2. Stock Valuation.
    3. Mean Reversion in Profitability and Earnings Growth.
    4. Market Efficiency: The Concept.
    5. Market Efficiency: The Evidence.


Features | Preface | Table of Contents | Supplements | About the Authors | Top


Supplements

  • Review Copy (0-13-019181-7); (1918A-7)
  • Instructor's Manual with Solutions Disk included (0-13-019559-6); (1955J-1)
  • Presentation Manager (0-13-019550-2); (1955K-9)
    • FREE! - click the SUPPLEMENTS LINK at the top of this page to download. This software allows students to do the exercises to some problems at the end of chapters.
Generic Supplements
  • FinCoach: Fixed Income (0-13-727975-2); (72797-4)
  • eBiz: The Prentice Hall Guide to E-Business and E-Commerce in Finance (0-13-031336-X); (3133F-1)


Features | Preface | Table of Contents | Supplements | About the Authors | Top


About the Authors

Coming Soon!


Features | Preface | Table of Contents | Supplements | About the Authors | Top


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