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Explains the essentials of investing and develops the analytical skills necessary for evaluating investment issues More than a simple introduction to the subject,
Investments: Analysis and Management prepares students to tackle real-world investment problems and controversies using a systematic, highly practical approach. Emphasizing clarity and readability, authors Gerald Jensen and Tyler Jensen minimize complex formulas and simplify difficult material, enabling students of all levels and backgrounds to follow the entire discussion and further explore the subject. Carefully organized chapters guide students through fundamental investing concepts, portfolio theory, common stock analysis and valuation, fixed-income and derivative securities, the essentials of security analysis and portfolio management, and more. A full complement of classroom-tested pedagogical tools, including bulleted summaries, numbered examples, spreadsheet exercises, computational problems, and chapter review questions, supports and strengthens student comprehension and retention of all material covered. Fully revised and updated throughout, the fifteenth edition of
Investments: Analysis and Management remains an ideal textbook for students with moderate business backgrounds taking an introductory investments course, business students working toward earning the CFA designation or an advanced degree in finance, and those wanting to learn about investments for their personal finances.
AN INTERACTIVE, MULTIMEDIA LEARNING EXPERIENCE This textbook includes access to an interactive, multimedia e-text. Icons throughout the print book signal corresponding digital content in the e-text.
Interactive Figures, Charts, and Tables Numerous interactive figures and process diagrams facilitate the study of complex concepts and processes and help students retain important information.
Downloadable Figures These appear throughout the e-text, enabling students to see and work with spreadsheets for exercises and computational problems.
Interactive Self-Scoring Quizzes Concept Check Questions at the end of each section provide immediate feedback, helping readers monitor their understanding and mastery of the material.
List of contents
Part 1 Background 1 Understanding Investments 1
2 Investment Alternatives 23
3 Indirect Investing 54
4 Securities Markets and Market Indexes 85
5 How Securities Are Traded 108
Part 2 Portfolio and Capital Market Theory 6 The Risk and Return from Investing 132
7 Portfolio Theory 161
8 Portfolio Selection and Asset Allocation 185
9 Capital Market Theory and Asset Pricing Models 210
Part 3 Common Stocks: Analysis, Valuation, and Management 10 Common Stock Valuation 240
11 Common Stocks: Analysis and Strategy 275
12 Market Efficiency 295
Part 4 Security Analysis 13 Economy/Market Analysis 325
14 Sector/Industry Analysis 348
15 Company Analysis 367
16 Technical Analysis 398
Part 5 Fixed-Income Securities: Analysis, Valuation, and Management 17 Bond Yields and Prices 419
18 Bonds: Analysis and Strategy 445
Part 6 Derivative Securities
19 Options 471
20 Futures Contracts 503
Part 7 Investment Management 21 Managing Your Financial Assets 527
22 Evaluating Investment Performance 547
Glossary G-1
Index I-1
About the author
Dr. Gerald Jensen served for many years as a faculty member at Creighton University and Northern Illinois University (NIU). Dr. Jensen was a Board of Trustees Professor and held the Jones, Diedrich, Mennie Endowed Professorship at NIU. He is a Chartered Financial Analyst and was actively involved with the CFA Institute as a volunteer and a consultant. His research focuses on Federal Reserve policy and security returns. He has published more than 60 articles in journals such as
Journal of Financial Economics,
Journal of Financial and Quantitative Analysis,
Financial Analysts Journal, and
Journal of Portfolio Management.
Dr. Tyler Jensen is an Associate Professor of Finance at the Ivy College of Business, Iowa State University. He received his PhD from the University of Utah in 2014 and joined the faculty of Iowa State the same year. His research interests include cash holdings, asset pricing, funding conditions, and earnings forecasts. He has been published in the
Journal of Financial and Quantitative Analysis,
Accounting Review,
Journal of Corporate Finance, and
Journal of Banking and Finance.
