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Finance Preliminary Edition Paperback – Facsimile, January 15, 1998

ISBN-13: 978-0137813452 ISBN-10: 0387563989 Edition: 1st

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Product Details

  • Paperback: 442 pages
  • Publisher: Prentice Hall; 1st edition (January 15, 1998)
  • Language: English
  • ISBN-10: 0387563989
  • ISBN-13: 978-0137813452
  • ASIN: 0137813457
  • Product Dimensions: 10 x 8 x 1 inches
  • Shipping Weight: 2 pounds
  • Average Customer Review: 3.5 out of 5 stars  See all reviews (13 customer reviews)
  • Amazon Best Sellers Rank: #1,615,905 in Books (See Top 100 in Books)

Editorial Reviews

From the Back Cover

Key Benefit: This broad and comprehensive book presents the conceptual building blocks common to all areas of finance. By covering general principles of finance rather than specific subfields, it provides an appreciation of the scope of the subject as a whole. It presents both theory and practice with a heavy emphasis on problem-solving. Key Topics: Based on the three analytical pillars of finance: time value of money; valuation; and risk management, this book is broader in scope than traditional finance books. Explaining what finance is and how it works, it reviews corporate financial statements from an owner's perspective and presents key corporate financial decisions in-depth. The book also emphasizes the application of finance problems to decision problems faced by households and firms. Market: A valuable reference on finance for every business owner and corporate professional.

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Customer Reviews

3.5 out of 5 stars
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Most Helpful Customer Reviews

32 of 37 people found the following review helpful By Professor Joseph L. McCauley on October 18, 2000
Format: Hardcover Verified Purchase
First: this book is certainly not worth [the price] ...I read the 1998 softcover 'preliminary edition' by Bodie and Merton, which I ordered and received from amazon.com in fall, 1999. Samuelson's name was not on the cover and at any rate should not cause the price of the book to increase... The current price makes the book unattractive. Now for my review of the softcover version:
This is a relatively well-written undergraduate-level text that can be read/understood without the need for classroom instruction. It is especially useful for self-study by ordinary people who know nothing at all about finance theory but are motivated to learn. The reader will find all of the main topics covered: cash flows, efficient market hypothesis, capital asset pricing model (CAPM), risk management, hedging, and options pricing at Black-Scholes (B-S) level of discussion. In the spirit of the simple level of the text, the B-S equation is applied but not derived (best derivation is still the second one, and the Black's original method starting from the CAPM, in the famous 1973 Black-Scholes paper). `Fat tails' (known and largely ignored since Mandelbrot, 1962) and non-risk-neutral hedges, the frontiers of modern finance theory, are not discussed. Throwing the traditional `financial-engineering' bone in the direction of fat tails, implied volatility is discussed because in practice fat tails can't any longer be ignored. All in all, the book is recommendable to physics grad. students who want to learn finance terminology along with the main (wrong) ideas believed by the finance theory community.
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14 of 15 people found the following review helpful By A Customer on July 9, 2002
Format: Hardcover
I am an MBA student-this was one of the worst textbooks I think I have ever had the misfortune to use. It was riddled with errors, which took me an hour to transcribe from the publisher's website. My entire class was confused by the end of chapter questions, which in some chapters seemed to have no connection to what was taught in the chapter. I and everyone else in my class wondered all along the way if we could trust what we were reading as being accurate. Stay away from this if you value your time and your sanity.
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20 of 23 people found the following review helpful By A Customer on September 14, 2002
Format: Hardcover
I was required to purchase this book for an MBA class in Business Finance. To put it simply, this book is terrible. There are errors in calculations from front cover to back. The describers used to name calculations are changed from page to page, without any consistency whatsoever, requiring a flow chart to understand what it is Bodie and Merton are discussing. Nobel prize or not, Mr. Bodie and Mr. Merton should be embarrassed to publish such trash.
Also, the way the questions are worded in the end of chapter reviews leave little relevance to what was taught in the preceding pages. Often questions that are asked are open-ended and very ambiguous.
I would not recommend this book to anyone and have asked my University to stop using this book because it is so flawed.
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9 of 10 people found the following review helpful By Buce on November 7, 2002
Format: Hardcover
Like others, I too first saw this book in paper. I am now using it to teach a class of law students -- smart kids but mostly without great numeracy. I think it is working okay but (like so many coursebooks?) perhaps not as well as expected. One problem is indeed the typos -- I'm a sloppy writer myself and typos are my incubus, but with all the beta testing and with all the publisher support, you would think they could have done better (indeed, I sent my own list to the publisher back in the beta days -- I got a nice thank you but I don't see my name in the acknowledgments, so I suspect they hit the trash). Aside from that -- the presentation seems mostly clean and straightforward, but quite often too elliptical for my students -- I've felt I had to do a lot of backgrounding. Unlike other reviewers, I quite like the problems -- I think some of them press the envelope a bit, but that is just fine with me, exactly what they should do. I do feel that the authors bring together a remarkable lot of stuff in a compact and orderly manner. In this respect with this book as with so many other coursebooks, perhaps it is the case that the teacher is getting more out of it than the student.
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15 of 20 people found the following review helpful By A Customer on May 3, 1998
Format: Paperback
"Have you seen the new Finance textbook?" The query making the rounds of business schools these days is uttered with such reverence that the question might as well be: "Have you seen the light?" Robert Merton, who shared last year's Nobel prize for economics, and Zvi Bodie, a professor at Boston University's business school, have penned what is being hailed as the definitive book in the field of finance. "This textbook will change the way finance is taught at business schools around the world," says James Angel, professor at Georgetown University's school of business. The eminent economist Paul Samuelson, who taught both authors when they were students at the Massachusetts Institute of Technology and wrote the foreword to the book, calls it an "innovative work that sets a new pattern of excellence"...
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