Investments [Hardcover]

William F. Sharpe (Author), Gordon J. Alexander (Author), Jeffery V. Bailey (Author)

Book Description

ISBN-10: 0131037714 | ISBN-13: 978-0131037717 | Publication Date: December 9, 1994 | Edition: 5

This book provides a solid theoretical framework around which to build practical knowledge of securities and securities markets. It offers a balanced presentation of theory and practice and it explains to students the essentials of prominent investment concepts. Just as importantly, it explains how those concepts are applied by professional investors. Further, the book reviews a wide range of empirical studies that connect the academic to the practitioner. Numerous examples enhance students' understanding of important ideas.

Editorial Reviews

From the Publisher

This book provides a solid theoretical framework around which to build practical knowledge of securities and securities markets. It offers a balanced presentation of theory and practice and it explains to students the essentials of prominent investment concepts. Just as importantly, it explains how those concepts are applied by professional investors. Further, the book reviews a wide range of empirical studies that connect the academic to the practitioner. Numerous examples enhance students' understanding of important ideas.

From the Back Cover

Key Benefit: This book provides a solid theoretical framework around which to build practical knowledge of securities and securities markets. Gives a comprehensive treatment of prominent financial instruments, securities markets, and investment management techniques. Key Topics: It offers a balanced presentation of theory and practice and it explains the essentials of prominent investment concepts. Just as importantly, it explains how those concepts are applied by professional investors. Further, the book reviews a wide range of empirical studies that connect the academic to the practitioner.

Product Details

• Hardcover: 900 pages
• Publisher: Prentice Hall College Div; 5 edition (December 9, 1994)
• Language: English
• ISBN-10: 0131037714
• ISBN-13: 978-0131037717
• Product Dimensions: 9.3 x 7.5 x 1.8 inches
• Shipping Weight: 4 pounds
• Average Customer Review: 4.3 out of 5 stars  See all reviews (7 customer reviews)
• Amazon Best Sellers Rank: #727,173 in Books (See Top 100 in Books)

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Customer Reviews

Most Helpful Customer Reviews

26 of 27 people found the following review helpful:

5.0 out of 5 stars Just a great book -- a must read, June 11, 2000

By 

Jay Liebowitz (Los Angeles, CA) - See all my reviews
(REAL NAME)   

This review is from: Investments (6th Edition) (Paperback)

I've read a lot of popular books about investing. Some of them were helpful in introducing me to investing in general. I decided, however, that I wanted a more thorough knowledge of the subject. I bought "The Portable MBA in Investment" by Peter Bernstein and found it utterly incomprehensible. If I wanted to be well-grounded in investing, this was unacceptable.

I borrowed Sharpe's text from the library and have been blasting through it for the past few days. It isn't an easy text; anyone who wants to tackle the subject should have some background in math and statistics. And I would suggest that people be at least somewhat familiar with investing. Otherwise, they may be turned off completely by the stuff. Once you're ready to go, though, make sure you read Sharpe's book first.

I've sampled other texts, and Sharpe's is the clearest and most relevant. Nothing is omitted. Everything from factor models to reading stock tables is included. The book is extremely well-written. Most of the material is presented simply. For example, the formulas are illustrated with examples that make understanding infinitely easier. And each chapter has a sidebar called "Institutional Issues" which puts a real-world spin on the chapter's subject matter. An invaluable book for the serious investor.

17 of 17 people found the following review helpful:

5.0 out of 5 stars Great Textbook!, September 29, 1998

By A Customer

This review is from: Investments (Hardcover)

This is a great textbook for people who want to find their careers in investment finance area. It does not need very sophisticated maths knowledge to read this book. The scope is very broad, ranging from security analysis to portfolio management theories. For people already in this area, it is a good reference book.

8 of 8 people found the following review helpful:

5.0 out of 5 stars Learning from a Nobel Prize Laureate, September 16, 2004

By 

doner (Poway, CA) - See all my reviews

This review is from: Investments (6th Edition) (Paperback)

You do not pick up this book to get "tips" on making an easy million. It does not teach you how to chart nor pick a value/momentum stock based on fundamental analysis.

It does, however, teach you about the foundation of modern investment theory and concepts. William Sharpe is a professor at Stanford and a Nobel Prize winner in 1990, along with Markowitz, for portfolio theory. Sharpe later extended this and introduced Capital Asset Pricing Model (CAPM) and it is explained as part of a lesson in this book. Their work is THE fundamental investment Asset Pricing Model.

As others have mentioned, to get the most of this book, you need some understanding of investments and a solid understanding of statistics. With these in hand, you will gain knowledge from this book. It is not an easy read and it used in graduate schools (I used it while obtaining my MBA), but Sharpe does an excellent job at explaining and illustrating investment concepts.

If you want to create deeper understanding of investment knowledge and really want to know investments, this is your book. For example, instead of just knowing that diverification is important, know how diversification works.