导读
 Part 1 T he Investment Background
 Chapter 1 The Investment Setting
  1.1 What Is an Investment?
  1.2 Measures of Return and Risk
  1.3 Determinants of Required Rates of Return
  1.4 Relationship between Risk and Return
 Chapter 2 The Asset Allocation Decision
  2.1 Individual Investor Life Cycle
  2.2 The Portfolio Management Process
  2.3 The Need For a Policy Statement
  2.4 Input to the Policy Statement
  2.5 The Importance of Asset Allocation
 Chapter 3 Selecting Investments in a Global Market
  3.1 The Case for Global Investments
  3.2 Global Investment Choices
  3.3 Historical Risk–Returns on Alternative Investments
 Chapter 4 Organization and Functioning of Securities Markets
  4.1 What Is a Market?
  4.2 Primary Capital Markets
  4.3 Secondary Financial Markets
  4.4 Detailed Analysis of Exchange Markets
 Part 2 D evelopments in Investment Theory
 Chapter 5 Efficient Capital Markets
  5.1 Why Should Capital Markets Be Efficient?
  5.2 Alternative Efficient Market Hypotheses
  5.3 Tests and Results of Efficient Market Hypotheses
  5.4 Behavioral Finance
  5.5 Implications of Efficient Capital Markets
 Chapter 6 An Introduction to Portfolio Management
  6.1 Some Background Assumptions
  6.2 Markowitz Portfolio Theory
 Chapter 7 An Introduction to Asset Pricing Models
  7.1 Capital Market Theory: An Overview
  7.2 The Capital Asset Pricing Model
  7.3 Relaxing the Assumptions
  7.4 Additional Empirical Tests of the CAPM
  7.5 The Market Portfolio: Theory Versus Practice
 Chapter 8 Multifactor Models of Risk and Return
  8.1 Arbitrage Pricing Theory
  8.2 Multifactor Models and Risk Estimation
 Part 3 V aluation Principles and Practices
 Chapter 9 Analysis of Financial Statements
  9.1 Major Financial Statements
  9.2 Analysis of Financial Ratios
  9.3 Computation of Financial Ratios
  9.4 Evaluating Internal Liquidity
  9.5 Evaluating Operating Performance
  9.6 Risk Analysis
  9.7 Analysis of Growth Potential
  9.8 Comparative Analysis of Ratios
  9.9 The Value of Financial Statement Analysis
  9.10 Specific Uses of Financial Ratios
 Chapter 10 An Introduction to Security Valuation
  10.1 An Overview of the Valuation Process
  10.2 Why a Three-Step Valuation Process?
  10.3 Theory of Valuation
  10.4 Valuation of Alternative Investments
  10.5 Relative Valuation Techniques
  10.6 Estimating the Inputs: The Required Rate of Return and the Expected Growth Rate of Valuation Variables
 PART 4 A nalysis and Management of Common Stocks
 Chapter 11 Macroanalysis and Microvaluation of the Stock Market
  11.1 The Components of Market Analysis
  11.2 Macromarket Analysis
  11.3 Microvaluation Analysis
  11.4 Valuation Using the Earnings Multiplier Approach
  11.5 Estimating Expected Earnings per Share
  11.6 Estimating the Stock Market Earnings Multiplier
  11.7 Microvaluation of World Markets
 Chapter 12 I ndustry Analysis
  12.1 Why Do Industry Analysis?
  12.2 The Business Cycle and Industry Sectors
  12.3 Structural Economic Changes and Alternative Industries
  12.4 Evaluating the Industry Life Cycle
  12.5 Analysis of Industry Competition
  12.6 Estimating Industry Rates of Return
  12.7 Industry Analysis Using the Relative Valuation Approach
  12.8 Other Relative Valuation Ratios
  12.9 Global Industry Analysis
 Chapter 13 Company Analysis and Stock Valuation
  13.1 Company Analysis versus Stock Valuation
  13.2 Economic, Industry, and Structural Links to Company Analysis
  13.3 Company Analysis
  13.4 Estimating Intrinsic Value
  13.5 Analysis of Growth Companies
  13.6 Measures of Value Added
  13.7 Influences on Analysis
  13.8 Global Company and Stock Analysis
 Chapter 14 Technical Analysis
  14.1 Underlying Assumptions of Technical Analysis
  14.2 Advantages of Technical Analysis
  14.3 Challenges to Technical Analysis
  14.4 Technical Trading Rules and Indicators
 Chapter 15 Equity Portfolio Management Strategies
  15.1 Passive versus Active Management
  15.2 An Overview of Passive Equity Portfolio Management Strategies
  15.3 An Overview of Active Equity Portfolio Management Strategies
  15.4 Value versus Growth Investing: A Closer Look
  15.5 An Overview of Style Analysis
  15.6 Asset Allocation Strategies
 PART 5 A nalysis and Management of Bonds
 Chapter 16 Bond Fundamentals
  16.1 Basic Features of a Bond
  16.2 The Global Bond Market Structure
  16.3 Alternative Bond Issues
  16.4 Obtaining Information on Bond Prices
 Chapter 17 The Analysis and Valuation of Bonds
  17.1 The Fundamentals of Bond Valuation
  17.2 Computing Bond Yields
  17.3 Calculating Future Bond Prices
  17.4 Bond Valuation Using Spot Rates
  17.5 What Determines Interest Rates?
  17.6 Calculating Forward Rates from the Spot Rate Curve
  17.7 Term-Structure Theories
  17.8 What Determines the Price Volatility for Bonds?
  17.9 Yield Spreads with Embedded Options
 Chapter 18 Bond Portfolio Management Strategies
  18.1 Bond Portfolio Performance, Style, and Strategy
  18.2 Passive Management Strategies
  18.3 Active Management Strategies
  18.4 Core-Plus Management Strategies
  18.5 Matched-Funding Management Strategies
  18.6 Contingent and Structured Management Strategies
 PART 6 Sp ecification and Evaluation of Asset Management
 Chapter 19 Professional Money Management, Alternative Assets, and Industry Ethics
  19.1 The Asset Management Industry: Structure and Evolution
  19.2 Private Management and Advisory Firms
  19.3 Organization and Management of Investment Companies
  19.4 Investing in Alternative Asset Classes
  19.5 Ethics and Regulation in the Professional Asset Management Industry
  19.6 What Do You Want from a Professional Asset Manager?
 Chapter 20 Evaluation of Portfolio Performance
  20.1 What Is Required of a Portfolio Manager?
  20.2 Composite Portfolio Performance Measures
  20.3 Application of Portfolio Performance Measures
  20.4 Portfolio Performance Evaluation: Some Extensions
  20.5 Factors That Affect Use of Performance Measures
  20.6 Evaluation of Bond Portfolio Performance
  20.7 Reporting Investment Performance
 Glossary
 FREQUENTLY USED SYMBOLS
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