Modern Portfolio Theory and Investment Analysis

Summary

This book covers the characteristics and analysis of individual securities as well as the theory and practice of optimally combining securities into portfolios. Stressing the economic intuition behind the subject matter, this classic text presents advanced concepts of investment analysis and portfolio management. It can be used for courses in both portfolio theory and in investment analysis that have an emphasis on portfolio theory. It can also be used in a course in investments where both portfolio analysis and security analysis are discussed. The authors' goal has been to make all the material in this text accessible to students of portfolio analysis and investment management, both at the undergraduate and graduate levels while maintaining the rigor through the use of appendices which can be used in conjunction with the text.