Capital Markets: Institutions and Instruments (3rd Edition) [Paperback]

Frank J. Fabozzi (Author), Franco Modigliani (Author)

Book Description

ISBN-10: 8120328108 | ISBN-13: 978-0130673343 | Publication Date: June 13, 2002 | Edition: 3

This text offers the most comprehensive capital market coverage available. It covers the instruments, the players, and the principles of valuation with an excellent blend of theory and practice. Topics include Overview of Market Participants and Financial Innovation, Depository Institutions, Investment Banking Firms, Stock Options Market, The Theory and Structure of Interest Rates, and The Market for Foreign Exchange and Risk Control Instruments. Appropriate for corporate treasurers.

Editorial Reviews

Review

"The text serves as a comprehensive guide to all the different instruments available on the market, and the coverage is in-depth... Specifically, it is the only text I have considered which covers the mortgage market and the various related instruments in such detail. It is also the only text to devote an entire chapter to Munis... The quantitative analysis in the text is commendable. It is in sufficient detail and developed in a step by step fashion which the students would like." — Rita Biswas, University at Albany - SUNY

"Capital Markets...is the best text in its field for upper-level undergraduate and entry-level MBA courses. Compared to [other texts in this market] this text is much more advanced and thorough, providing students an in-depth understanding of all financial markets, instruments and participants... The writing style is outstanding. The authors have masterfully crafted each chapter finding balance between laconic and loquaciousness... Most, if not all, of the financial markets and institutions texts fail to include investment banks as relevant market participants. Not only does Capital Markets include this key market "player," but provides the best overview of the scope and nature of this financial entity." — Charles B. ("Chip") Ruscher, The University of Arizona

"...this textbook is comprehensive in coverage and very well written. It treats an extensive number of topics in a clear and concise manner." — Jacobus T. Severiens, John Carroll University

From the Publisher

Fabozzi and Modigliani describe all phases of the capital market, including the instruments, institutions and valuation of instruments. The text offers the most comprehensive capital market coverage available. It covers the instruments, the players, and the principles of valuation with an excellent blend of theory and practice. The Second Edition expands upon the topics covered in the first and updates all material to reflect the latest financial trends and developments. --This text refers to an out of print or unavailable edition of this title.

See all Editorial Reviews

Product Details

• Paperback: 644 pages
• Publisher: Prentice Hall; 3 edition (June 13, 2002)
• Language: English
• ISBN-10: 8120328108
• ISBN-13: 978-0130673343
• ASIN: 013067334X
• Product Dimensions: 10.1 x 8.1 x 1.5 inches
• Shipping Weight: 3.2 pounds
• Average Customer Review: 4.1 out of 5 stars  See all reviews (9 customer reviews)
• Amazon Best Sellers Rank: #326,693 in Books (See Top 100 in Books)

More About the Author

Frank J. Fabozzi is Professor in the Practice of Finance and Becton Fellow at the Yale School of Management and Editor of the Journal of Portfolio Management. He is a Chartered Financial Analyst and earned a doctorate in economics from the City University of New York.

Customer Reviews

Most Helpful Customer Reviews

6 of 7 people found the following review helpful:

5.0 out of 5 stars A fascinating desk reference., January 26, 2001

By 

"jcbd" (PANAMA, PANAMA Panama) - See all my reviews

This review is from: Capital Markets: Institutions and Instruments (2nd Edition) (Hardcover)

Since I bought this book, I have it as my desk reference. For beginners in this area, is a great comprehensive tool to help understand capital markets. For the more skilled financial readers, is an obligated desk reference.

Fabozzi and Modigliani take you in complete tour through capital markets. In the early chapters you will find valuable information about financial systems and institutions, about how the primary and secondary markets work, among many other issues.

Then the book explains debt and equity markets, finishing in the later chapters with great explanations on derivatives markets.

Definitely, I made a great investment in buying this book.

3 of 4 people found the following review helpful:

1.0 out of 5 stars Almost the same content as the other book from the same authors, August 12, 2005

By 

Nhon Quach - See all my reviews
(REAL NAME)   

Amazon Verified Purchase

This review is from: Capital Markets: Institutions and Instruments (3rd Edition) (Paperback)

The content of the book is fine, but I am puzzled by the authors' decision to publish yet another book on this topic while they have covered most of the topics in the book "Foundations of Financial Market." I ordered both, only to be disappointed to find this out the hard way. I call on, or even strongly demand, the authors to do the right thing to pull one of the books out of circulation, to avoid confusing the readers.

In school, we learned of academic honesty, don't so-called professors or acamdecians follow the same code?

2 of 3 people found the following review helpful:

3.0 out of 5 stars Intuitively Good but Mathematically Poor, April 28, 2010

By 

Jus Naturale - See all my reviews

This review is from: Capital Markets: Institutions and Instruments (3rd Edition) (Paperback)

Unfortunately, this book went wrong in one very big way. However, it went right in another way that may offset this depending on how you want to utilize the book. If your a freshman undergraduate or talented senior high school student looking for an introduction: it is probably for you. However, if you are a sophomore undergrad or above this is not for you unless you do not need to derive the formulas. This is where it goes wrong.. Its mathematical derivations are wrong in some instances and in many cases its examples are inconsistent and require corrections! This is a fundamental flaw if your studying this book as an introduction into quantitative finance.

It is however a very easy read if you do not have any problems with algebra, maths et cetera and can get passed the mistakes. Most importantly, it explains things intuitively which other books do not e.g. Elton and Gruber, et al Modern Portfolio Theory and Investment Analysis. I personally recommend the purchase of both these books to be used in conjunction for those wanting a thorough intuitive understanding with correct mathematics. Good luck!