Quantitative Methods for Investment Analysis (Hardcover)

~ Richard A. DeFusco (Author), Jerald E. Pinto (Author), David E. Runkle (Author), Dennis W. McLeavey (Author) "Would you accept $9,500 in exchange for $10,000?..." (more)
Key Phrases: Monte Carlo, Ibbotson Associates, Coefficients Standard Error (more...)

Editorial Reviews

Product Description

Quantitative Methods for Investment Analysis provides a blend of theory and practice to teach statistics within the context of finance and investments. No prior financial knowledge is assumed. Several features of this book are tailored specifically to help the reader. First, learning outcome statements (LOS) specify the objective of each chapter. Second, examples and problem practice are emphasized so that the reader can gain confidence in meeting the LOS objectives. Finally, examples and problems seek to present situations faced by investment practitioners and reflect the global investment community.

About the Author

About the Authors

Richard A. DeFusco, CFA, is an Associate Professor of Finance at the University of Nebraska-Lincoln (UNL). He earned his CFA charter in 1999 and started CFA grading in 2000. He is a member of the Omaha-Lincoln Society of Financial Analysts, and serves on committees for the Association for Investment Management and Research. His primary teaching interest is investments and he coordinates the Cornhusker Fund—the student-managed investment fund at UNL. He has published a number of journal articles, primarily in the field of finance. He completed his bachelor’s degree in management science at the University of Rhode Island and doctoral degree in finance at the University of Tennessee-Knoxville.

Dennis W. McLeavey, CFA, is Vice President of Curriculum Development at the Association for Investment Management and Research. He obtained his CFA charter in 1990 and began CFA grading in 1995. During the early 1990s, he taught in the Boston University and the Boston Security Analysts’ CFA review programs. He subsequently served on the AIMR Council of Examiners and recently received an AIMR Ten-Year Certificate of Achievement for Continuing Education. Active in endowment fund management, he founded a student-managed fund at the University of Rhode Island and co-authored two college texts and several journal articles. He completed a doctorate in production management and industrial engineering at Indiana University in 1972, after studying economics for his bachelor’s degree at the University of Western Ontario in 1968.

Jerald E. Pinto, CFA, as principal of TRM Services, consults to corporations, foundations, and partnerships in investment planning, portfolio analysis, and quantitative analysis. Mr. Pinto previously taught finance at the NYU Stern School of Business after working in the banking and investment industries in New York City. He has lectured to business and government executives from the United States and abroad, and participates in the Society of Quantitative Analysts, Inc., and other forums. He holds an MBA from Baruch College and a Ph.D. in finance from the Stern School.

David E. Runkle, CFA, is Vice President and Research Manager at U.S. Bancorp Piper Jaffray. He has been an Adjunct Professor of Finance in the Carlson School of Management at the University of Minnesota since 1989, where he teaches equity security analysis. He has consulted on valuation and financial performance since 1994. Before joining U.S. Bancorp Piper Jaffray, Runkle was a research officer at the Federal Reserve Bank of Minneapolis. He has published more than 20 academic articles and has won a number of awards, including the Wriston Prize for Outstanding Teaching (Brown University), an Elija Watt Sells Award for outstanding performance on the Certified Public Accountant examination, and a four-star rating as an outstanding professor in the Business Week Guide to the Best Business Schools. He is a member of the Minnesota Society of Certified Public Accountants and was a member of the Candidate Curriculum Committee for AIMR. He received a B.A. in economics, summa cum laude! ! , from Carleton College and a Ph.D. in economics from M.I.T.

Product Details

• Hardcover: 664 pages
• Publisher: Aimr (August 1, 2001)
• Language: English
• ISBN-10: 0935015698
• ISBN-13: 978-0935015690
• Product Dimensions: 10.1 x 7.9 x 1.9 inches
• Shipping Weight: 3.8 pounds
• Average Customer Review: 3.5 out of 5 stars  See all reviews (6 customer reviews)
• Amazon.com Sales Rank: #203,368 in Books (See Bestsellers in Books)

Customer Reviews

Most Helpful Customer Reviews

29 of 31 people found the following review helpful:

2.0 out of 5 stars Think twice before buying, March 7, 2004

By A Customer

I have purchased this book because it was recommended reading for the CFA program.
Unfortunately, this book has really disappointed me. The author explains nothing but general statistics but attempts to add an "investment dimension" to his explanations. The writing style is anything but educational. The output is a unstructured, complicated and uncomprehensive text with examples that only add to your confusion. In many of the passages you get lost and don't understand what the author is trying to get across to you or where he is leading. The author frequently jumps from one topic to another and skips important information, not to mention the numerous printing errors in the text. I found myself struggling on one of the passages half an hour, when I finally decided to look up the same topic in the statistics book in the library. It explained everything in a matter of seconds.
Think twice before buying this book. Get ANY introductory business statistics text (e.g. Statistics for Management and Economics by Gerald Keller) - they ALL cover the SAME topics in a MUCH more understandable way.

27 of 31 people found the following review helpful:

2.0 out of 5 stars Only average textbook, December 2, 2003

By A Customer

This book does not do a good job in explaining the basic concepts of Statistics and how to apply it for quantitative analysis of Investments. The only reason why this book sells is that it is part of the recommended texts for the CFA program and the authors are part of the AIMR board. I am pursing the CFA charter as well as my masters in Economics and I would suggest the book "Introductory Statistics" by Thomas H. Wonnacott, Ronald J. Wonnacott which does an awesome job in explaining the basic concepts of Statistics. You would understand WHY we do such and such instead of memorizing formulae.

10 of 15 people found the following review helpful:

5.0 out of 5 stars A big improvement, April 21, 2004

By	dean_from_sa (Plano,TX) - See all my reviews

This text is a great improvement over the material the CFA program used in the mid-90s. Since it is intended to provide a survey of basic statistics and their applications in finance, it would be wrong to expect a deep treatise on any one subject. There are many real world applications used to describe the concepts tackled in this book. The learning outcomes listed at the beginning of each chapter provide a road map for the reader so that all salient points will be absorbed.

Will this book be the only one you will need to become a quantitative analyst? No, but it is a great starting point. If you are desiring more depth perhaps a review of the abstracts on the AIMR website would lead you more involved, scholarly efforts.