Modern Investment Organization Theory and Investment Analysis (6th Edition)

Author: (USA) Edwin J. Elton Martin J. Gruber Stephen J. Brown William N. Goetzmann United States/USA
Publisher:
Publish Date: 2006-01-01
Features: How to design an investment portfolio favored by investors? What are the benefits of international diversified portfolios? How are the relationships between a portfolio and its constituent securities? For these questions, you will find answers in this new edition of Modern Portfolio Theory and Investment Analysis (6th Edition), and discover more. In this edition, Edwin Elton and Martin Gruber, along with the new authors Stephen Brown and William Goetzmann, present advanced theories and techniques in investment analysis and portfolio management in an accessible manner. After briefly introducing the basic concepts of securities and markets, the book guides readers step by step to understand the essence of modern portfolio theory, including its strengths, weaknesses, and recent breakthroughs. As the content unfolds, you will learn how to evaluate individual securities, how to construct high-performing portfolios, and how to apply modern tools such as equilibrium theory for more effective portfolio management. This book serves as a textbook for modern investment theory and portfolio management, suitable for undergraduate and graduate courses in portfolio management, investment analysis, and security analysis. It covers both the analysis of individual securities and the optimization of portfolio security selection. The main topics include an introduction to financial markets and securities, an introduction to the Capital Asset Pricing Model (CAPM) and Arbitrage Pricing Theory (APT), an analysis of international fund performance, an analysis of bond management, and an exploration of multi-level models for portfolio evaluation. Additionally, the book introduces many introductory perspectives on modern investment theory. As a textbook for portfolio theory courses and investment analysis courses with a focus on portfolio theory, it has been used for many years at New York University. For portfolio analysis courses, the book thoroughly introduces students to modern portfolio theory and general equilibrium models (CAPM and APT). It will also benefit practicing security analysts and portfolio managers. The application of modern portfolio theory in practice is astonishingly fast. Investment managers who wish to gain a comprehensive understanding of modern portfolio theory and investment analysis will find that certain chapters of this book address these issues in an easy-to-understand manner. Experts focused on applications will discover that the book provides them with modern tools.