Theory and Practice of Investment Management / Edition 1

Theory and Practice of Investment Management / Edition 1

3.0 1
by Frank J. Fabozzi
     
 

The Second Edition of The Theory and Practice of Investment Management is the ultimate guide to understanding the various theoretical and practical aspects of investment management as well as the essential vehicles held in investment portfolios. Created with both practitioners and students in mind, this reliable resource ties together theoretical advances in

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Overview

The Second Edition of The Theory and Practice of Investment Management is the ultimate guide to understanding the various theoretical and practical aspects of investment management as well as the essential vehicles held in investment portfolios. Created with both practitioners and students in mind, this reliable resource ties together theoretical advances in investment management with actual applications—and prepares you to use proven investment management techniques to control risk while enhancing performance.

Led by financial experts Frank Fabozzi and Harry Markowitz, the contributors to this book—successful practitioners with hands-on expertise as well as application-oriented academics—combine their real-world financial knowledge with investment management theory to provide the practical guidance you need to succeed.

Divided into three informative parts—with key points and challenging questions found in each chapter—this edition of The Theory and Practice of Investment Management contains insights on every aspect of the investment management process, addressing:

  • Asset allocation and portfolio construction
  • Equity analysis and equity portfolio management strategies—with discussions of common stock valuation, long-short equity portfolios, equity derivatives, and more
  • Bond analysis and bond portfolio management strategies—with coverage of asset-backed and mortgage-backed securities, yield measures, multifactor risk models, interest rate derivatives, and more

Many finance books focus on the theory of investment management and leave the details of the implementation up to you. This edition of The Theory and Practice of Investment Management takes a more comprehensive approach to this discipline by illustrating how theory is applied in practice while also stressing the importance of the portfolio construction process.

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Product Details

ISBN-13:
9780471228998
Publisher:
Wiley
Publication date:
09/24/2002
Series:
Frank J. Fabozzi Series, #94
Pages:
912
Product dimensions:
6.30(w) x 9.39(h) x 2.13(d)

Meet the Author

FRANK J. FABOZZI, PhD, CFA, is Editor of the Journal of Portfolio Management and an Adjunct Professor of Finance at Yale University's School of Management. Dr. Fabozzi is on the board of directors of the Guardian Life family of funds and the BlackRock complex of funds. He is an Advisory Analyst for Global Asset Management (GAM) with responsibilities as Consulting Director for portfolio construction, risk control, and evaluation.

HARRY M. MARKOWITZ, PhD, is a consultant in the finance area. In 1990, he shared the Nobel Prize in Economics for his work in portfolio theory. In 1989, he received the John von Neumann Award from the Operations Research Society of America for his work in portfolio theory and other applications of mathematics and computers to business practice.

Table of Contents

About the Editors.

Contributing Authors.

Foreword (Peter L. Bernstein).

SECTION ONE: FOUNDATIONS OF INVESTMENT MANAGEMENT.

Chapter 1. Investment Management (Frank J. Fabozzi and Harry M. Markowitz).

Chapter 2. Portfolio Selection (Frank J. Fabozzi, et al.).

Chapter 3. Applying Mean-Variance Analysis (Frank J. Fabozzi, et al.).

Chapter 4. Asset Pricing Models (Frank J. Fabozzi).

Chapter 5. Calculating Investment Returns (Bruce Feibel).

SECTION TWO: INVESTING IN COMMON STOCK.

Chapter 6. Common Stock Markets, Trading Arrangements, and Trading Costs (Frank J. Fabozzi, et al.).

Chapter 7. Tracking Error and Common Stock Portfolio Management (Raman Vardharaj, et al.).

Chapter 8. Common Stock Portfolio Management Strategies (Frank J. Fabozzi and James L. Grant).

Chapter 9. Traditional Fundamental Analysis I: Sources of Information (Pamela P. Peterson and Frank J. Fabozzi).

Chapter 10. Traditional Fundamental Analysis II: Financial Ratio Analysis (Pamela P. Peterson and Frank J. Fabozzi).

Chapter 11. Traditional Fundamental Analysis III: Earnings Analysis, Cash Analysis, Dividends, and Dividend Discount Models (Pamela P. Peterson and Frank J. Fabozzi).

Chapter 12. Security Analysis Using Value-Based Metrics (James A. Abate and James L. Grant).

Chapter 13. Multi-Factor Equity Risk Models.

Chapter 14. Equity Derivatives I: Features and Valuation (Bruce M. Collins and Frank J. Fabozzi).

Chapter 15. Equity Derivatives II: Portfolio Management Applications (Bruce M. Collins and Frank J. Fabozzi).

SECTION THREE: INVESTING IN FIXED-INCOME SECURITIES.

Chapter 16. Fixed-Income Securities (Frank J. Fabozzi).

Chapter 17. Real Estate-Backed Securities (Frank J. Fabozzi).

Chapter 18. General Principles of Bond Valuation (Frank J. Fabozzi and Steven V. Mann).

Chapter 19. Yield Measures and Forward Rates (Frank J. Fabozzi and Steven V. Mann).

Chapter 20. Valuation of Bonds with Embedded Options (Frank J. Fabozzi and Steven V. Mann).

Chapter 21. Measuring Interest Rate Risk (Frank J. Fabozzi and Steven V. Mann).

Chapter 22. Fund-Income Portfolio Strategies (Frank J. Fabozzi).

Chapter 23. Bond Portfolio Analysis Relative to a Benchmark (Lev Dynkin, et al.).

Chapter 24. Multi-Factor Fixed-Income Risk Models and Their Applications (Lev Dynkin and Jay Hyman).

Chapter 25. Fixed-Income Derivatives and Risk Control (Frank J. Fabozzi).

SECTION FOUR: INVESTMENT COMPANIES AND EXCHANGE-TRADED FUNDS.

Chapter 26. Investment Companies (Frank J. Jones and Frank J. Fabozzi).

Chapter 27. Exchange-Traded Funds (Gary L. Gastineau).

SECTION FIVE: INVESTING IN REAL ESTATE AND ALTERNATIVE INVESTMENTS.

Chapter 28. Real Estate Investment (Susan Hudson-Wilson).

Chapter 29. Hedge Funds (Mark J. P. Anson).

Chapter 30. Private Equity (Mark J. P. Anson).

SECTION SIX: ASSET ALLOCATION.

Chapter 31. Active Asset Allocation (Robert D. Arnott).

Index.

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