Investments (McGraw-Hill/Irwin Series in Finance, Insurance and Real Estate) [Hardcover]

Zvi Bodie (Author), Alex Kane (Author), Alan Marcus (Author)

Book Description

Publication Date: September 17, 2010 | ISBN-10: 0073530700 | ISBN-13: 978-0073530703 | Edition: 9

Bodie, Kane, and Marcus’ Investments sets the standard for graduate/MBA investments textbooks. It blends practical and theoretical coverage, while maintaining an appropriate rigor and a clear writing style. Its unifying theme is that security markets are nearly efficient, meaning that most securities are priced appropriately given their risk and return attributes. The text places greater emphasis on asset allocation and offers a much broader and deeper treatment of futures, options, and other derivative security markets than most investment texts. It is also the only graduate Investments text to offer an online homework management system, McGraw-Hill’s Connect Finance.

Editorial Reviews

About the Author

Zvi Bodie is Professor of Finance and Economics at the Boston University School of Management. He is the director of Boston University’s Chartered Financial Analysts Examination Review Program and has served as consultant to many private and governmental organizations. Professor Bodie is a research associate of the National Bureau of Economic Research, where he was director of the NBER Project on Financial Aspects of the U.S. Pension System, and he is a member of the Pension Research Council of The Wharton School. He is widely published in leading professional journals, and his previous books include Pensions in the U.S. Economy, Issues in Pension Economics, and Financial Aspects of the U.S. Pension System.

Alex Kane is professor of finance and economics at the Graduate School of International Relations and Pacific Studies at the University of California, San Diego. He was visiting professor at the Faculty of Economics, University of Tokyo; Graduate School of Business, Harvard; Kennedy School of Government, Harvard; and research associate, National Bureau of Economic Research. An author of many articles in finance and management journals, Professor Kane’s research is mainly in corporate finance, portfolio management, and capital markets, most recently in the measurement of market volatility and the pricing of options. Professor Kane is the developer of the International Simulation Laboratory (ISL) for training and experimental research in executive decision making.

Alan Marcus is professor of finance in the Wallace E. Carroll School of Management at Boston College. He received his PHD in Economics from MIT in 1981. Professor Marcus recently has been a visiting professor at the Athens Laboratory of Business Administration and at MIT’s Sloan School of Management and has served as a research associate at the National Bureau of Economic Research. He also established the Chartered Financial Analysts Review Program at Boston College. Professor Marcus has published widely in the fields of capital markets and portfolio management, with an emphasis on applications of futures and options pricing models. His consulting work has ranged from new product development to provision of expert testimony in utility rate proceedings. He also spend two years at the Federal Home Loan Mortgage Corporation (Freddie Mac), where he developed models of mortgage pricing and credit risk, and he currently serves on the Advisory Council for the Currency Risk Management Alliance of State Street Bank and Windham Capital Management Boston.

Product Details

• Hardcover: 1056 pages
• Publisher: McGraw-Hill/Irwin; 9 edition (September 17, 2010)
• Language: English
• ISBN-10: 0073530700
• ISBN-13: 978-0073530703
• Product Dimensions: 9.8 x 8.3 x 1.4 inches
• Shipping Weight: 4.5 pounds (View shipping rates and policies)
• Average Customer Review: 3.3 out of 5 stars  See all reviews (6 customer reviews)
• Amazon Best Sellers Rank: #13,349 in Books (See Top 100 in Books)

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Most Helpful Customer Reviews

5 of 6 people found the following review helpful:

4.0 out of 5 stars Good but not perfect. Caters to the CFA takers, June 14, 2011

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Jaewoo Kim "OB-Wan" (Santa Monica, CA) - See all my reviews
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This review is from: Investments (McGraw-Hill/Irwin Series in Finance, Insurance and Real Estate) (Hardcover)

This book deals primarily with equity and bond investment finance. This is not a general finance book. I wouldn't necessarily recommend this book, for example, to those who want to study corporate finance.

The book does a quite good, but not perfect, job of explaining the elegant finance subject matters such as CAPM, bond pricing, and risk management. For example, although I knew that higher stocks with higher Beta must have higher return than stocks with lower Beta (assuming CAPM is true), the book never bothers to explain precisely why. One must deduct the reasons from the CAPM assumptions and equations, which is not always intuitive.

The book also provides second set of questions for those who are studying for the CFA. I don't know how closely the book's questions resembles the real CFA questions.

I wish the book had more Excel examples and problems. Although the book does not ignore Excel, most of the problems and solutions involve using a calculator. Given that Excel, not the calculator, is the principle tool of finance (and even Excel is being upstaged by data analytics using terabytes of data), I thought the book was little too old fashioned in its examples, problems, and solutions.

Overall, this is a nice textbook with some of the best explainations of finance concepts I have ever read.

3.0 out of 5 stars Supposedly the best, can't say either way, December 7, 2011

By 

Mike "Mike" (Chicago, IL) - See all my reviews

This review is from: Investments (McGraw-Hill/Irwin Series in Finance, Insurance and Real Estate) (Hardcover)

While this book is supposedly the best on investments, it lacks in a few key areas, namely fixed income. CFA supplemented bonds and fixed income readings were far superior to this book's.

However, it has plenty of practice problems and seems to provide a solid overview of key investment methodologies. This is ideal for asset managers or research analysts.

9 of 14 people found the following review helpful:

5.0 out of 5 stars the best there is, November 26, 2010

By 

J. B. Amarante - See all my reviews
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Amazon Verified Purchase

This review is from: Investments (McGraw-Hill/Irwin Series in Finance, Insurance and Real Estate) (Hardcover)

This is the best book of financial investments in the market. It has a great teaching method with demonstrations and examples. This new edition includes some topics about the financial crisis as well.