Capital Markets: Institutions and Instruments (2nd Edition) (Hardcover)

~ Frank J. Fabozzi (Author), Franco Modigliani (Author) "In a market economy, the allocation of economic resources is driven by the outcome of many private decisions..." (more)
Key Phrases: theoretical futures price, financial activity regulation, nominal expected return, United States, New York, Federal Reserve (more...)

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

--This text refers to the Paperback edition.

Product Description

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 in a perfect blend of principle 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.

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Product Details

• Hardcover: 768 pages
• Publisher: Prentice Hall; 2 Sub edition (January 4, 1996)
• Language: English
• ISBN-10: 0133001873
• ISBN-13: 978-0133001877
• Product Dimensions: 9.6 x 7.7 x 1.3 inches
• Shipping Weight: 2.9 pounds
• Average Customer Review: 4.2 out of 5 stars  See all reviews (8 customer reviews)
• Amazon.com Sales Rank: #966,080 in Books (See Bestsellers in Books)

Customer Reviews

Most Helpful Customer Reviews

6 of 6 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

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.

2 of 2 people found the following review helpful:

5.0 out of 5 stars Well written- Broad and comprehensive without being shallow, June 14, 2004

By	Craig Matteson (Ann Arbor, MI) - See all my reviews (TOP 50 REVIEWER)

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

There are many different versions of finance books that package a variety of subsets of what is known about financial instruments, how they are valued, the markets they trade in, and various relevant regulations. Of course textbooks tend to be written with specific courses in mind and select the material they present for a one or two term course on that topic.

This book has a somewhat unique combination because it covers rather comprehensively the institutions that make up our financial markets, what they do for a living, the instruments they trade, and how those instruments are structured, valued, and regulated. The book also provides an introduction to international markets.

Since Fabozzi and Modigliani cover such a broad ground they cannot provide the same depth as books that are more specialized in nature. However, this book is written very well. It is thoughtful in what it presents and clearly teaches the material it covers in a concise way without merely skimming over the topics. It is a terrific textbook and can make a good desk reference for any finance professional. I like it a lot and think it succeeds in its aims quite well.

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)

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?