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Investments 8th Edition 8th Edition

4.0 out of 5 stars 121 customer reviews
ISBN-13: 978-0077261450
ISBN-10: 0077261453
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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.

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Product Details

  • Series: Irwin/McGraw-Hill Series in Finance, Insurance and Real Estate
  • Hardcover: 990 pages
  • Publisher: McGraw-Hill/Irwin; 8 edition (June 17, 2008)
  • Language: English
  • ISBN-10: 0077261453
  • ISBN-13: 978-0077261450
  • Product Dimensions: 8.2 x 1.5 x 10.2 inches
  • Shipping Weight: 4.4 pounds
  • Average Customer Review: 4.0 out of 5 stars  See all reviews (121 customer reviews)
  • Amazon Best Sellers Rank: #69,335 in Books (See Top 100 in Books)

Customer Reviews

Top Customer Reviews

Format: Kindle Edition Verified Purchase
The book covers the subject matter well. I think the authors do a fine job of explaining different investments. However, I purchased the digital edition and it does not come with the additional online resources. I was very disappointed by this because the text links directly to the Mcgraw Hill online learning center which provides excel templates which are useful in doing the homework and investment analysis. It does not state anywhere in the information that you do not get the online access codes. I would recommend the physical copy so you can get the access code. I usually prefer e-books as it is easier to carry them and have all the books you need for classes in one place but this is just another example of how buying books online over complicates the process of picking the right book.
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Format: Hardcover
I use this book for my Investments course at Dartmouth, and I find it to be a very useful companion text. It is extremely comprehensive, with sections on pretty much everything you would want within this sphere. it is also relatively readable, with a logical layout and good explanations for most of the main points.

The downsides is that it is very expensive, although no ore so that other similar texts. Overall, it comes very recommended for those who wish to develop a strong understanding of capital markets and investing.
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Format: Hardcover Verified Purchase
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.
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Format: Hardcover
This book seems like the university standard for financial economics or investment geared classes, typically focusing on asset pricing. Seeing the stars on amazon I was quite excited when my professor assigned this book as the primary book for the course work.

Well that joy turned to despair after the first set of homework assignments. The book does a decent, not great, but decent job explaining complex topics of investment. But the problems in the end of the chapters don't reflect the material IN the chapter preceding it. That's to say they ask questions that they never explained, described, or even mentioned in the chapter or, matter of fact, the entire book on certain questions. So the answers will be complicated steps or procedures that were not mentioned anywhere - very, very frustrating. I thought the concept of a textbook was to teach students, not have them grab solutions from thin air. Of course not 100% of the problems are like that but I would say a good 70% are, which is much larger compared to other textbooks who ask questions not mentioned in the chapter. (Seriously, way too many problems are like that.) If they're going to charge this much for a text book at least use it to teach tangible financial calculations on asset pricing.

I gave it two stars because the book covers a wide range of investment topics in an almost encyclopedic manner so it's good for reference to get an overall understanding about a topic.

So final tip: you want theoretical and general explanations on investment topics, then you're good to go with Investments; you want a textbook that explains and shows you how to calculate problems and gives examples to illustrate and teach you, definitely go with something else.
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Format: Hardcover
This book is incredibly obtuse, and Awkward writing style. It is hard to believe that the Authors have very high teaching credentials, when this book was so Poorly-written. The Professor Actually laughed out loud when he was reading some of the canned answers the Authors gave to homework questions. They were incredibly wordy and written by somebody before the Prehistoric Times. Even more awkward than the Text. There were a few places where the book didn't give adequate information for the Assignment Questions. One or two Chapters, in particular, although I don't recall which ones, off the top of my head. Some of the Chapters just went on-and-on explaining something, and, at the end of it, you were left asking yourself "Did I really learn *Anything* about it?" I then raced online, and within less than 10 minutes... I gained a much better understanding off of a couple well-known finance website, in just a sentence or two, or at the most a Paragraph...than I learned (or, didn't learn) from several paragraphs in this book.
One of the other Students was Shocked, when she was telling me this book doesn't even have a Glossary, and it is the Only book she has ever had throughout her entire Degree Program, that didn't include any Glossary.

Kind of Sad, for Such an Expensive Book!
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