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Investments (精装)
by Zvi Bodie, Alex Kane, and Alan Marcus
| Category:
Investments, Investing, Finance, Textbooks |
| Market price: ¥ 1398.00
MSL price:
¥ 1308.00
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| Stock:
Pre-order item, lead time 3-7 weeks upon payment [ COD term does not apply to pre-order items ] |
MSL rating:
 Good for Gifts |
| MSL Pointer Review:
Covering the basics and some advanced topics in finance with the right balance of theories and applications, this is an excellent text on financial economics on graduate level. |
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AllReviews |
1 Total 1 pages 9 items |
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Sunanda Dutta (MSL quote), USA
<2006-12-29 00:00>
The book by Bodie et al is unquestionably, the best introduction to Investment Theory available today. Please note that there is an emphasis on the word introduction, because there is much that can be covered after the book ends. This book provides a springboard from which the student can take off in different directions viz. Derivatives, Risk Management, Portfolio Management etc.
The language is simple, and there are no mathematical demons in the book. The Concept Check questions are extremely valuable and should be attempted before the reader delves into the equally challenging exercises at the end of the chapters. The book starts with an introduction to the different types of markets and financial instruments present today, and then moves into investments, risk etc. The book touches upon a number of topics including bonds, financial statement analysis, security valuation, derivatives and hedging.
Like other multipurpose books, it does not go in-depth into any of these, but provides the reader a brief introduction to each of them for help in further studies. It does dwell a lot on portfolio theories which are described in detail, with numerous examples. The chapter-ending exercises are graded with easier questions in the beginning, and extremely challenging ones in the end. All in all, a great book!
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Craig Matteson (MSL quote), USA
<2006-12-29 00:00>
This book has a tremendous amount of valuable information for those of us who want to understand what investments are actually about. There is a lot more to it than the simple bromides peddled in the popular press and media. Yet, when you get some basic concepts down, they become easier to understand and evaluate. The popular press is misleading in its over- simplification and silly statements (like "no one is buying today").
I want to praise this edition's organization. Since it is a text designed for use by students, the fifth edition I used is organized most helpfully. Each chapter has an overview and there are concept check questions at key points of the text that help you assess if you really understood the information you just read. The main points are restated in a concise summary at the end of each chapter and you can review the key terms to make sure you are absorbing the vocabulary.
There are valuable websites listed along the way for additional and related information. The authors and publisher also provide a website with materials including spreadsheets directly related to this book. The part of the site with online quizzes has a few typos and scoring errors, and that should be fixed, but the online materials are generally ok.
The chapter problems are another matter. Some are really projects and should be separated, I feel, from the study questions. They are good to do if you have the time and will certainly help your learning, but they can take some time to work through.
Some of the questions are very simple and are really a quick concept check and they seem out of place when placed along side the "projects". One VERY NICE feature of the questions is the inclusion of sample CFA (Chartered Financial Analyst) exam questions. This is very useful for those of us thinking about preparing for that process.
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A reader (MSL quote), USA
<2006-12-29 00:00>
Not as technical as one would expect under such a promising title. Nevertheless, the book is very attractively organized and didactically useful. Problems are generally good in supplementing the theory. I found it pleasurable to study from this book. It whets the appetite for more. |
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A reader (MSL quote), USA
<2006-12-29 00:00>
Every professor at the University of Chicago's Graduate School of Business uses this text for the beginning level finance course - Investments. I found the book to be very readable, with excellent examples. It does a good job explaining the pros and cons of various financial models - Portfolio Theory, CAPM, Multi-Factor Asset Pricing, No Arbitrage Bond Pricing, Black-Scholes, etc. You cannot go wrong with the content in this book. |
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A reader (MSL quote), USA
<2006-12-29 00:00>
I've owned an edition of this book since 1993 when I took an Investments class as an undergraduate at the University of Pennsylvania. Throughout my career, my return to graduate school, and my pursuit of my CFA charter, I have used and seen others using this book.
This book is an introductory textbook on investments. To get a deeper understanding about the research that developed the theories and the ongoing debates in academia (e.g. APT, efficient markets hypothesis, behavioral finance), I would suggest reading some of the authors/ researchers referenced in the book. Despite this limitation, this is an excellent starting point. The book begins with basic introduction of financial markets and instruments, develops the basic finance toolbox (e.g. basic statistical tools - mean, variance; discounted cash flow), and applies them in a portfolio setting. From this base, it goes on to introduce the most basic financial concepts such as beta, CAPM, diversification, efficient frontier, CAL, etc. These are all the basic tools that are used in portfolio construction and management. The book extends itself by introducing additional concepts such as derivatives (e.g. futures, options, swaps) which can alter the characteristics of portfolios. As other reviewers have noted and I will agree, these topics are only in a cursory fashion, and I recommend further study on these topics through other texts or papers.
Overall, this is a must read (at least as a starting point) for anyone interested in developing knowledge about portfolio theory. For example, this book would be very helpful for anyone who would like to understand with a more critical eye what the commentators/analysts on CNBC or at the brokerage firms are trying to recommend for their own portfolios. |
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A reader (MSL quote), UK
<2006-12-29 00:00>
I am a lecturer in Finance for a university in the UK. I evaluated this book for use in an Executive MBA course in portfolio management after previously using Investment Analysis and Portfolio Management by Reilly and Brown. The Reilly book takes a more quantitative approach to the valuation of various assets and is more comprehensive than Investments in terms of its coverage of securities and markets but I ultimately opted for Investments due to its clarity, organization, and quality writing style. The authors do an excellent job of communicating fairly complex concepts to a student with little or no background in finance.
If you are studying for the CFA or need a more advanced text, I can recommend the Reilly book. If you are a practitioner or looking for a very mathematically rigorous text in portfolio management, I can recommend "Active Portfolio Management" by Grinold. But for an undergraduate or graduate student looking for an excellent primer on stocks, bonds, options, futures and the workings of the markets they are traded on, look no further than Investments. |
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Rachel Rabinowitz (MSL quote), USA
<2006-12-29 00:00>
If one is willing to look aside from the dry substandard humor of the author, they will find one of the best written textbooks around in any subject. Taken as a given that some of this material is mathematically and analytically intensive, I cannot say that this entire book is easy reading. However, you will find that the authors due an excellent job explaining and demonstrating difficult concepts. They also provide a variety of real life examples to supplement their explanations, that help to provide context for some of the seemingly abstract concepts. Moreover, they extensively make use of Microsoft Excel is demonstrating how to perform some complicated aspects of security analysis in a way that is easily reproducible to the reader. |
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Brian Davidson (MSL quote), USA
<2006-12-29 00:00>
The authors of this book have produced a work that offers enough detail to give you a reliable intuition about investment opportunities, and offering a comprehensive explanation about investment theory. I found the book invaluable and absolutely worth its weight in gold. It is, however, not for the faint of heart, or anyone with zero mathematical background. While the math is far from being difficult or esoteric, you have to know what a summation is. Any precalculus background is sufficient. In addition, you have to want a comprehensive explanation that leaves no gaps. If you are looking for a short read, Malkiel's A Random Walk Down Wall Street is an excellent choice. This is a text book, which is, by definition, supposed to be detailed. |
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Henrik Hansen (MSL quote), Sweden
<2006-12-29 00:00>
I find this to be a good book. It's big, thick and it just waits for you to pick it up. It does a good job explaining things to a beginner but as noted here before me I also found it to be a little broad and with a lack of dept, which is a trade-off that the authors presumably kept in mind. However I also find it a little thin and what could be the reason to put the cumulative normal distribution table on pages 712-713 and not in the appendices as expected? I recommend you to buy it bundled with Hull's book on futures as it is also a good buy, to say the least. |
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1 Total 1 pages 9 items |
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