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Investments, 2nd Edition

December 2009, ©2008
Investments, 2nd Edition (EHEP000954) cover image
Based on class-tested material, this book is an excellent introduction to global financial markets. The authors link theory and real world issues in their coverage of equity, bond and FX strategies including methods such as chartism, neural networks and chaos theory. Raising funds in the money markets and via equity and debt securities, as well as dividend and merger policy provide further practical illustrations of theoretical ideas. Futures, options and swaps and their use in speculation, hedging and arbitrage are also examined.

The authors include a vast array of pedagogy, including chapter objectives summaries; end of chapter exercises; numerous real-world examples and case vignettes; Excel spreadsheets providing simulations for the reader; a glossary of terms; clear, simple and consistent mathematical notation.

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Preface ix

List of Symbols and Abbreviations xv

PART 1: FINANCIAL MARKETS.

CHAPTER 1 Markets and Players 3

CHAPTER 2 Raising Finance 19

CHAPTER 3 Financial Instruments 39

CHAPTER 4 Trading Securities 63

CHAPTER 5 Investment Companies 73

PART 2: VALUATION.

CHAPTER 6 Valuation Techniques 85

CHAPTER 7 Cost of Capital 109

CHAPTER 8 Valuing Firms 125

PART 3: ASSET RETURNS AND PORTFOLIO THEORY.

CHAPTER 9 Measuring Asset Returns 153

CHAPTER 10 Portfolio Theory 189

CHAPTER 11 International Portfolio Diversification 221

CHAPTER 12 Single-Index Model 239

CHAPTER 13 CAPM and APT 265

PART 4: EQUITY MARKETS.

CHAPTER 14 Stock Valuation and the EMH 291

CHAPTER 15 Behavioural Finance and Anomalies 317

CHAPTER 16 Predicting Stock Returns 337

CHAPTER 17 Technical Trading Rules 353

PART 5: FOREIGN EXCHANGE MARKET.

CHAPTER 18 Spot and Forward Markets 379

PART 6: FIXED-INCOME MARKETS.

CHAPTER 19 Money Markets 417

CHAPTER 20 Bond Markets 439

CHAPTER 21 Term Structure of Interest Rates 465

CHAPTER 22 Bond Market Strategies 481

PART 7: DERIVATIVES.

CHAPTER 23 Derivative Securities 507

CHAPTER 24 Futures Markets 533

CHAPTER 25 Options Markets 559

CHAPTER 26 Options Pricing 589

CHAPTER 27 Energy and Weather Derivatives 623

PART 8: PORTFOLIO MANAGEMENT.

CHAPTER 28 Private Equity 645

CHAPTER 29 Performance of Mutual Funds 655

CHAPTER 30 Hedge Funds 675

CHAPTER 31 Market Risk and Value at Risk 697

Glossary 719

Internet Sites 741

References 745

Index 755

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Keith Cuthbertson is Professor of Finance at Cass Business School. He has worked at H.M.Treasury, Bank of England, National Institute and at Tanaka Business School, Imperial College and the University of Newcastle. He has been a visitor at the Federal Reserve Bank, Washington and the Freije University, Berlin. He has undertaken consultancy and teaching in applied finance at various financial institutions and government organizations.

Dirk Nitzsche is Senior Lecturer in Finance at Cass Business School. He joined the school in 2004 from Imperial College, London where he spent 6 years in the Business School.  After completing his Ph.D. at the University of Newcastle, he has worked in the Department of Economics at the University of Newcastle between 1994 and 1997, before joining City University Business School in 1997 and Imperial College in 1998. His research interests can broadly be described as asset pricing and efficiency of financial markets and more recently he analyses the performance of unit trusts and hedge funds.
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  • The mathematical level of the text is lowered in order to make the text more accessible to a wider audience
  • New material has been added on behavioural finance, mutual hedge funds, venture capital and equity markets, weather and energy derivatives, carbon trading, exotic derivatives, real options, derivatives strategies, and market risk/value at risk
  • Material on Corporate Finance has been removed.
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  • A real-world flavour throughout
  • An Excel spreadsheet to enable the students to simulate and run the examples in the text
  • Concludes with a basic introduction to derivatives and risk management
  • Topic boxes on current policy issues and newspaper extracts, giving practical applications and real world context of the ideas presented
  • 2 colour in-text design
  • Clear, simple and consistent mathematical notation, with worked examples and end of chapter questions
  • Supporting website including Lecturer's Resource Pack and Student Centre with interactive Excel and GAUSS software

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Instructors Resources
Wiley Instructor Companion Site
Lecturer Companion Website
Hosting questions and answers, excel data sets from the book, an image archive containing tables from the book and PowerPoint slides.
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Students Resources
Wiley Student Companion Site
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Purchase Options
Paperback   
Investments, 2nd Edition
ISBN : 978-0-470-51956-1
790 pages
December 2009, ©2008
$88.95   BUY

Wiley E-Text   
Investments, 2nd Edition
ISBN : 978EUDTE00218
790 pages
July 2011, ©2008
$88.95   BUY

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