{"product_id":"investments-9780470915806","title":"Investments","description":"\u003cb\u003eBook Synopsis\u003c\/b\u003e\u003cbr\u003eA comprehensive guide to investment analysis and portfolio management by an expert team from the CFA Institute  \u003cp\u003eIn a world of specialization, no other profession likely requires such broad, yet in-depth knowledge than that of financial analyst. Financial analysts must not only possess a broad understanding of the financial markets-including structure, organization, efficiency, portfolio management, risk and return, and planning and construction-but they must also have a strong sense of how to evaluate industries and companies prior to engaging in an analysis of a specific stock. \u003ci\u003eInvestments: Principles of Portfolio and Equity Analysis\u003c\/i\u003e provides the broad-based knowledge professionals and students of the markets need to manage money and maximize return. The book\u003cbr\u003e \u003c\/p\u003e \u003cul\u003e \u003cli\u003eDetails market structure and functions, market anomalies, secondary market basics, and regulation\u003c\/li\u003e \u003cli\u003eDescribes investment assets and asset classes, types of positions and orders, as well as for\u003cbr\u003e\u003cbr\u003e\u003cb\u003eTable of Contents\u003c\/b\u003e\u003cbr\u003e\u003cp\u003eForeword xiii\u003c\/p\u003e \u003cp\u003eAcknowledgments xv\u003c\/p\u003e \u003cp\u003eIntroduction xvii\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 1 Market Organization and Structure 1\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eLearning Outcomes 1\u003c\/p\u003e \u003cp\u003e1. Introduction 1\u003c\/p\u003e \u003cp\u003e2. The Functions of the Financial System 2\u003c\/p\u003e \u003cp\u003e2.1. Helping People Achieve Their Purposes in Using the Financial System 3\u003c\/p\u003e \u003cp\u003e2.2. Determining Rates of Return 8\u003c\/p\u003e \u003cp\u003e2.3. Capital Allocation Efficiency 9\u003c\/p\u003e \u003cp\u003e3. Assets and Contracts 10\u003c\/p\u003e \u003cp\u003e3.1. Classifications of Assets and Markets 11\u003c\/p\u003e \u003cp\u003e3.2. Securities 13\u003c\/p\u003e \u003cp\u003e3.3. Currencies 16\u003c\/p\u003e \u003cp\u003e3.4. Contracts 16\u003c\/p\u003e \u003cp\u003e3.5. Commodities 22\u003c\/p\u003e \u003cp\u003e3.6. Real Assets 22\u003c\/p\u003e \u003cp\u003e4. Financial Intermediaries 24\u003c\/p\u003e \u003cp\u003e4.1. Brokers, Exchanges, and Alternative Trading Systems 25\u003c\/p\u003e \u003cp\u003e4.2. Dealers 26\u003c\/p\u003e \u003cp\u003e4.3. Securitizers 27\u003c\/p\u003e \u003cp\u003e4.4. Depository Institutions and Other Financial Corporations 29\u003c\/p\u003e \u003cp\u003e4.5. Insurance Companies 30\u003c\/p\u003e \u003cp\u003e4.6. Arbitrageurs 31\u003c\/p\u003e \u003cp\u003e4.7. Settlement and Custodial Services 33\u003c\/p\u003e \u003cp\u003e4.8. Summary 35\u003c\/p\u003e \u003cp\u003e5. Positions 35\u003c\/p\u003e \u003cp\u003e5.1. Short Positions 36\u003c\/p\u003e \u003cp\u003e5.2. Levered Positions 38\u003c\/p\u003e \u003cp\u003e6. Orders 41\u003c\/p\u003e \u003cp\u003e6.1. Execution Instructions 42\u003c\/p\u003e \u003cp\u003e6.2. Validity Instructions 45\u003c\/p\u003e \u003cp\u003e6.3. Clearing Instructions 47\u003c\/p\u003e \u003cp\u003e7. Primary Security Markets 47\u003c\/p\u003e \u003cp\u003e7.1. Public Offerings 48\u003c\/p\u003e \u003cp\u003e7.2. Private Placements and Other Primary Market Transactions 50\u003c\/p\u003e \u003cp\u003e7.3. Importance of Secondary Markets to Primary Markets 51\u003c\/p\u003e \u003cp\u003e8. Secondary Security Market and Contract Market Structures 51\u003c\/p\u003e \u003cp\u003e8.1. Trading Sessions 51\u003c\/p\u003e \u003cp\u003e8.2. Execution Mechanisms 52\u003c\/p\u003e \u003cp\u003e8.3. Market Information Systems 56\u003c\/p\u003e \u003cp\u003e9. Well-Functioning Financial Systems 56\u003c\/p\u003e \u003cp\u003e10. Market Regulation 58\u003c\/p\u003e \u003cp\u003e11. Summary 61\u003c\/p\u003e \u003cp\u003eProblems 63\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 2 Security Market Indices 73\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eLearning Outcomes 73\u003c\/p\u003e \u003cp\u003e1. Introduction 73\u003c\/p\u003e \u003cp\u003e2. Index Definition and Calculations of Value and Returns 75\u003c\/p\u003e \u003cp\u003e2.1. Calculation of Single-Period Returns 75\u003c\/p\u003e \u003cp\u003e2.2. Calculation of Index Values over Multiple Time Periods 77\u003c\/p\u003e \u003cp\u003e3. Index Construction and Management 78\u003c\/p\u003e \u003cp\u003e3.1. Target Market and Security Selection 79\u003c\/p\u003e \u003cp\u003e3.2. Index Weighting 79\u003c\/p\u003e \u003cp\u003e3.3. Index Management: Rebalancing and Reconstitution 88\u003c\/p\u003e \u003cp\u003e4. Uses of Market Indices 90\u003c\/p\u003e \u003cp\u003e4.1. Gauges of Market Sentiment 90\u003c\/p\u003e \u003cp\u003e4.2. Proxies for Measuring and Modeling Returns, Systematic Risk, and Risk-Adjusted Performance 90\u003c\/p\u003e \u003cp\u003e4.3. Proxies for Asset Classes in Asset Allocation Models 90\u003c\/p\u003e \u003cp\u003e4.4. Benchmarks for Actively Managed Portfolios 91\u003c\/p\u003e \u003cp\u003e4.5. Model Portfolios for Investment Products 91\u003c\/p\u003e \u003cp\u003e5. Equity Indices 91\u003c\/p\u003e \u003cp\u003e5.1. Broad Market Indices 91\u003c\/p\u003e \u003cp\u003e5.2. Multimarket Indices 92\u003c\/p\u003e \u003cp\u003e5.3. Sector Indices 92\u003c\/p\u003e \u003cp\u003e5.4. Style Indices 93\u003c\/p\u003e \u003cp\u003e6. Fixed-Income Indices 94\u003c\/p\u003e \u003cp\u003e6.1. Construction 94\u003c\/p\u003e \u003cp\u003e6.2. Types of Fixed-Income Indices 95\u003c\/p\u003e \u003cp\u003e7. Indices for Alternative Investments 96\u003c\/p\u003e \u003cp\u003e7.1. Commodity Indices 98\u003c\/p\u003e \u003cp\u003e7.2. Real Estate Investment Trust Indices 98\u003c\/p\u003e \u003cp\u003e7.3. Hedge Fund Indices 98\u003c\/p\u003e \u003cp\u003e8. Summary 101\u003c\/p\u003e \u003cp\u003eProblems 102\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 3 Market Efficiency 109\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eLearning Outcomes 109\u003c\/p\u003e \u003cp\u003e1. Introduction 109\u003c\/p\u003e \u003cp\u003e2. The Concept of Market Efficiency 111\u003c\/p\u003e \u003cp\u003e2.1. The Description of Efficient Markets 111\u003c\/p\u003e \u003cp\u003e2.2. Market Value versus Intrinsic Value 113\u003c\/p\u003e \u003cp\u003e2.3. Factors Contributing to and Impeding a Market’s Efficiency 114\u003c\/p\u003e \u003cp\u003e2.4. Transaction Costs and Information-Acquisition Costs 117\u003c\/p\u003e \u003cp\u003e3. Forms of Market Efficiency 118\u003c\/p\u003e \u003cp\u003e3.1. Weak Form 119\u003c\/p\u003e \u003cp\u003e3.2. Semistrong Form 119\u003c\/p\u003e \u003cp\u003e3.3. Strong Form 122\u003c\/p\u003e \u003cp\u003e3.4. Implications of the Efficient Market Hypothesis 122\u003c\/p\u003e \u003cp\u003e4. Market Pricing Anomalies 124\u003c\/p\u003e \u003cp\u003e4.1. Time-Series Anomalies 125\u003c\/p\u003e \u003cp\u003e4.2. Cross-Sectional Anomalies 127\u003c\/p\u003e \u003cp\u003e4.3. Other Anomalies 128\u003c\/p\u003e \u003cp\u003e4.4. Implications for Investment Strategies 130\u003c\/p\u003e \u003cp\u003e5. Behavioral Finance 131\u003c\/p\u003e \u003cp\u003e5.1. Loss Aversion 131\u003c\/p\u003e \u003cp\u003e5.2. Overconfidence 132\u003c\/p\u003e \u003cp\u003e5.3. Other Behavioral Biases 132\u003c\/p\u003e \u003cp\u003e5.4. Information Cascades 133\u003c\/p\u003e \u003cp\u003e5.5. Behavioral Finance and Efficient Markets 133\u003c\/p\u003e \u003cp\u003e6. Summary 134\u003c\/p\u003e \u003cp\u003eProblems 134\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 4 Portfolio Management: An Overview 139\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eLearning Outcomes 139\u003c\/p\u003e \u003cp\u003e1. Introduction 139\u003c\/p\u003e \u003cp\u003e2. A Portfolio Perspective on Investing 140\u003c\/p\u003e \u003cp\u003e2.1. Portfolio Diversification: Avoiding Disaster 140\u003c\/p\u003e \u003cp\u003e2.2. Portfolios: Reduce Risk 142\u003c\/p\u003e \u003cp\u003e2.3. Portfolios: Composition Matters for the Risk–Return Tradeoff 145\u003c\/p\u003e \u003cp\u003e2.4. Portfolios: Not Necessarily Downside Protection 145\u003c\/p\u003e \u003cp\u003e2.5. Portfolios: The Emergence of Modern Portfolio Theory 148\u003c\/p\u003e \u003cp\u003e3. Investment Clients 149\u003c\/p\u003e \u003cp\u003e3.1. Individual Investors 149\u003c\/p\u003e \u003cp\u003e3.2. Institutional Investors 150\u003c\/p\u003e \u003cp\u003e4. Steps in the Portfolio Management Process 156\u003c\/p\u003e \u003cp\u003e4.1. Step One: The Planning Step 156\u003c\/p\u003e \u003cp\u003e4.2. Step Two: The Execution Step 156\u003c\/p\u003e \u003cp\u003e4.3. Step Three: The Feedback Step 159\u003c\/p\u003e \u003cp\u003e5. Pooled Investments 160\u003c\/p\u003e \u003cp\u003e5.1. Mutual Funds 160\u003c\/p\u003e \u003cp\u003e5.2. Types of Mutual Funds 164\u003c\/p\u003e \u003cp\u003e5.3. Other Investment Products 167\u003c\/p\u003e \u003cp\u003e6. Summary 172\u003c\/p\u003e \u003cp\u003eProblems 172\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 5 Portfolio Risk and Return: Part I 175\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eLearning Outcomes 175\u003c\/p\u003e \u003cp\u003e1. Introduction 175\u003c\/p\u003e \u003cp\u003e2. Investment Characteristics of Assets 176\u003c\/p\u003e \u003cp\u003e2.1. Return 176\u003c\/p\u003e \u003cp\u003e2.2. Other Major Return Measures and Their Applications 185\u003c\/p\u003e \u003cp\u003e2.3. Variance and Covariance of Returns 189\u003c\/p\u003e \u003cp\u003e2.4. Historical Return and Risk 192\u003c\/p\u003e \u003cp\u003e2.5. Other Investment Characteristics 197\u003c\/p\u003e \u003cp\u003e3. Risk Aversion and Portfolio Selection 200\u003c\/p\u003e \u003cp\u003e3.1. The Concept of Risk Aversion 201\u003c\/p\u003e \u003cp\u003e3.2. Utility Theory and Indifference Curves 202\u003c\/p\u003e \u003cp\u003e3.3. Application of Utility Theory to Portfolio Selection 206\u003c\/p\u003e \u003cp\u003e4. Portfolio Risk 209\u003c\/p\u003e \u003cp\u003e4.1. Portfolio of Two Risky Assets 210\u003c\/p\u003e \u003cp\u003e4.2. Portfolio of Many Risky Assets 215\u003c\/p\u003e \u003cp\u003e4.3. The Power of Diversification 216\u003c\/p\u003e \u003cp\u003e5. Efficient Frontier and Investor’s Optimal Portfolio 222\u003c\/p\u003e \u003cp\u003e5.1. Investment Opportunity Set 222\u003c\/p\u003e \u003cp\u003e5.2. Minimum-Variance Portfolios 223\u003c\/p\u003e \u003cp\u003e5.3. A Risk-Free Asset and Many Risky Assets 225\u003c\/p\u003e \u003cp\u003e5.4. Optimal Investor Portfolio 228\u003c\/p\u003e \u003cp\u003e6. Summary 234\u003c\/p\u003e \u003cp\u003eProblems 234\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 6 Portfolio Risk and Return: Part II 243\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eLearning Outcomes 243\u003c\/p\u003e \u003cp\u003e1. Introduction 243\u003c\/p\u003e \u003cp\u003e2. Capital Market Theory 244\u003c\/p\u003e \u003cp\u003e2.1. Portfolio of Risk-Free and Risky Assets 244\u003c\/p\u003e \u003cp\u003e2.2. The Capital Market Line 248\u003c\/p\u003e \u003cp\u003e3. Pricing of Risk and Computation of Expected Return 256\u003c\/p\u003e \u003cp\u003e3.1. Systematic Risk and Nonsystematic Risk 257\u003c\/p\u003e \u003cp\u003e3.2. Calculation and Interpretation of Beta 259\u003c\/p\u003e \u003cp\u003e4. The Capital Asset Pricing Model 267\u003c\/p\u003e \u003cp\u003e4.1. Assumptions of the CAPM 267\u003c\/p\u003e \u003cp\u003e4.2. The Security Market Line 269\u003c\/p\u003e \u003cp\u003e4.3. Applications of the CAPM 272\u003c\/p\u003e \u003cp\u003e5. Beyond the Capital Asset Pricing Model 284\u003c\/p\u003e \u003cp\u003e5.1. The CAPM 284\u003c\/p\u003e \u003cp\u003e5.2. Limitations of the CAPM 284\u003c\/p\u003e \u003cp\u003e5.3. Extensions to the CAPM 286\u003c\/p\u003e \u003cp\u003e5.4. The CAPM and Beyond 287\u003c\/p\u003e \u003cp\u003e6. Summary 287\u003c\/p\u003e \u003cp\u003eProblems 288\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 7 Basics of Portfolio Planning and Construction 295\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eLearning Outcomes 295\u003c\/p\u003e \u003cp\u003e1. Introduction 295\u003c\/p\u003e \u003cp\u003e2. Portfolio Planning 296\u003c\/p\u003e \u003cp\u003e2.1. The Investment Policy Statement 296\u003c\/p\u003e \u003cp\u003e2.2. Major Components of an IPS 297\u003c\/p\u003e \u003cp\u003e2.3. Gathering Client Information 309\u003c\/p\u003e \u003cp\u003e3. Portfolio Construction 312\u003c\/p\u003e \u003cp\u003e3.1. Capital Market Expectations 312\u003c\/p\u003e \u003cp\u003e3.2. The Strategic Asset Allocation 313\u003c\/p\u003e \u003cp\u003e3.3. Steps toward an Actual Portfolio 321\u003c\/p\u003e \u003cp\u003e3.4. Additional Portfolio Organizing Principles 325\u003c\/p\u003e \u003cp\u003e4. Summary 326\u003c\/p\u003e \u003cp\u003eProblems 327\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 8 Overview of Equity Securities 331\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eLearning Outcomes 331\u003c\/p\u003e \u003cp\u003e1. Introduction 331\u003c\/p\u003e \u003cp\u003e2. Equity Securities in Global Financial Markets 332\u003c\/p\u003e \u003cp\u003e3. Types and Characteristics of Equity Securities 338\u003c\/p\u003e \u003cp\u003e3.1. Common Shares 339\u003c\/p\u003e \u003cp\u003e3.2. Preference Shares 343\u003c\/p\u003e \u003cp\u003e4. Private versus Public Equity Securities 345\u003c\/p\u003e \u003cp\u003e5. Investing in Nondomestic Equity Securities 347\u003c\/p\u003e \u003cp\u003e5.1. Direct Investing 348\u003c\/p\u003e \u003cp\u003e5.2. Depository Receipts 349\u003c\/p\u003e \u003cp\u003e6. Risk and Return Characteristics of Equity Securities 353\u003c\/p\u003e \u003cp\u003e6.1. Return Characteristics of Equity Securities 353\u003c\/p\u003e \u003cp\u003e6.2. Risk of Equity Securities 354\u003c\/p\u003e \u003cp\u003e7. Equity Securities and Company Value 356\u003c\/p\u003e \u003cp\u003e7.1. Accounting Return on Equity 356\u003c\/p\u003e \u003cp\u003e7.2. The Cost of Equity and Investors’ Required Rates of Return 361\u003c\/p\u003e \u003cp\u003e8. Summary 362\u003c\/p\u003e \u003cp\u003eProblems 363\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 9 Introduction to Industry and Company Analysis 369\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eLearning Outcomes 369\u003c\/p\u003e \u003cp\u003e1. Introduction 370\u003c\/p\u003e \u003cp\u003e2. Uses of Industry Analysis 370\u003c\/p\u003e \u003cp\u003e3. Approaches to Identifying Similar Companies 371\u003c\/p\u003e \u003cp\u003e3.1. Products and\/or Services Supplied 371\u003c\/p\u003e \u003cp\u003e3.2. Business-Cycle Sensitivities 372\u003c\/p\u003e \u003cp\u003e3.3. Statistical Similarities 374\u003c\/p\u003e \u003cp\u003e4. Industry Classification Systems 374\u003c\/p\u003e \u003cp\u003e4.1. Commercial Industry Classification Systems 374\u003c\/p\u003e \u003cp\u003e4.2. Governmental Industry Classification Systems 378\u003c\/p\u003e \u003cp\u003e4.3. Strengths and Weaknesses of Current Systems 380\u003c\/p\u003e \u003cp\u003e4.4. Constructing a Peer Group 380\u003c\/p\u003e \u003cp\u003e5. Describing and Analyzing an Industry 385\u003c\/p\u003e \u003cp\u003e5.1. Principles of Strategic Analysis 386\u003c\/p\u003e \u003cp\u003e5.2. External Influences on Industry Growth, Profitability, and Risk 405\u003c\/p\u003e \u003cp\u003e6. Company Analysis 412\u003c\/p\u003e \u003cp\u003e6.1. Elements That Should Be Covered in a Company Analysis 413\u003c\/p\u003e \u003cp\u003e6.2. Spreadsheet Modeling 416\u003c\/p\u003e \u003cp\u003e7. Summary 417\u003c\/p\u003e \u003cp\u003eProblems 420\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 10 Equity Valuation: Concepts and Basic Tools 425\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eLearning Outcomes 425\u003c\/p\u003e \u003cp\u003e1. Introduction 426\u003c\/p\u003e \u003cp\u003e2. Estimated Value and Market Price 426\u003c\/p\u003e \u003cp\u003e3. Major Categories of Equity Valuation Models 428\u003c\/p\u003e \u003cp\u003e4. Present Value Models: The Dividend Discount Model 430\u003c\/p\u003e \u003cp\u003e4.1. Preferred Stock Valuation 434\u003c\/p\u003e \u003cp\u003e4.2. The Gordon Growth Model 436\u003c\/p\u003e \u003cp\u003e4.3. Multistage Dividend Discount Models 441\u003c\/p\u003e \u003cp\u003e5. Multiplier Models 445\u003c\/p\u003e \u003cp\u003e5.1. Relationships among Price Multiples, Present Value Models, and Fundamentals 445\u003c\/p\u003e \u003cp\u003e5.2. The Method of Comparables 449\u003c\/p\u003e \u003cp\u003e5.3. Illustration of a Valuation Based on Price Multiples 452\u003c\/p\u003e \u003cp\u003e5.4. Enterprise Value 454\u003c\/p\u003e \u003cp\u003e6. Asset-Based Valuation 457\u003c\/p\u003e \u003cp\u003e7. Summary 461\u003c\/p\u003e \u003cp\u003eProblems 462\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 11 Equity Market Valuation 469\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eLearning Outcomes 469\u003c\/p\u003e \u003cp\u003e1. Introduction 469\u003c\/p\u003e \u003cp\u003e2. Estimating a Justified P\/E Ratio 470\u003c\/p\u003e \u003cp\u003e2.1. Neoclassical Approach to Growth Accounting 470\u003c\/p\u003e \u003cp\u003e2.2. The China Economic Experience 472\u003c\/p\u003e \u003cp\u003e2.3. Quantifying China’s Future Economic Growth 474\u003c\/p\u003e \u003cp\u003e2.4. Equity Market Valuation 476\u003c\/p\u003e \u003cp\u003e3. Top-Down and Bottom-Up Forecasting 484\u003c\/p\u003e \u003cp\u003e3.1. Portfolio Suitability of Each Forecasting Type 485\u003c\/p\u003e \u003cp\u003e3.2. Using Both Forecasting Types 487\u003c\/p\u003e \u003cp\u003e3.3. Top-Down and Bottom-Up Forecasting of Market Earnings per Share 488\u003c\/p\u003e \u003cp\u003e4. Relative Value Models 491\u003c\/p\u003e \u003cp\u003e4.1. Earnings-Based Models 491\u003c\/p\u003e \u003cp\u003e4.2. Asset-Based Models 502\u003c\/p\u003e \u003cp\u003e5. Summary 506\u003c\/p\u003e \u003cp\u003eProblems 508\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 12 Technical Analysis 515\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eLearning Outcomes 515\u003c\/p\u003e \u003cp\u003e1. Introduction 515\u003c\/p\u003e \u003cp\u003e2. Technical Analysis: Definition and Scope 516\u003c\/p\u003e \u003cp\u003e2.1. Principles and Assumptions 516\u003c\/p\u003e \u003cp\u003e2.2. Technical and Fundamental Analysis 518\u003c\/p\u003e \u003cp\u003e3. Technical Analysis Tools 520\u003c\/p\u003e \u003cp\u003e3.1. Charts 520\u003c\/p\u003e \u003cp\u003e3.2. Trend 530\u003c\/p\u003e \u003cp\u003e3.3. Chart Patterns 532\u003c\/p\u003e \u003cp\u003e3.4. Technical Indicators 544\u003c\/p\u003e \u003cp\u003e3.5. Cycles 562\u003c\/p\u003e \u003cp\u003e4. Elliott Wave Theory 563\u003c\/p\u003e \u003cp\u003e5. Intermarket Analysis 566\u003c\/p\u003e \u003cp\u003e6. Summary 568\u003c\/p\u003e \u003cp\u003eProblems 570\u003c\/p\u003e \u003cp\u003eGlossary 575\u003c\/p\u003e \u003cp\u003eReferences 589\u003c\/p\u003e \u003cp\u003eAbout the Authors 595\u003c\/p\u003e \u003cp\u003eAbout the CFA Program 601\u003c\/p\u003e \u003cp\u003eIndex 603\u003c\/p\u003e\n\u003c\/li\u003e\n\u003c\/ul\u003e","brand":"John Wiley \u0026 Sons Inc","offers":[{"title":"Default Title","offer_id":49402458243415,"sku":"9780470915806","price":75.6,"currency_code":"GBP","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0817\/1739\/5799\/files\/9780470915806.jpg?v=1730480460","url":"https:\/\/bookcurl.com\/products\/investments-9780470915806","provider":"Book Curl","version":"1.0","type":"link"}