Product Description

Based on class–tested material, this book is an excellent introduction to global financial markets. The authors link theory and real world issues in their coverage of equity, bond and FX strategies including methods such as chartism, neural networks and chaos theory. This practical approach is also applied to topics in corporate finance, including valuation of companies using NPV and other techniques such as economic value added (EVA), adjusted present value (APV) and real options theory. Raising funds in the money markets and via equity and debt securities, as well as dividend and merger policy provide further practical illustrations of theoretical ideas. Futures, options and swaps and their use in speculation, hedging and arbitrage are also examined.
Features include:
∗ Topic boxes on current policy issues and newspaper extracts, giving practical applications and real world context of the ideas presented
∗ 2 colour in–text design
∗ Clear, simple and consistent mathematical notation, with worked examples and end of chapter questions
∗ Supporting website including Lecturer′s Resource Pack and Student Centre with interactive Excel and GAUSS software
The text covers behaviour in financial markets, decisions in corporate finance and wider public policy issues. It is aimed at final year undergraduates, MBA and MSc students and those undertaking professional qualifications in finance.
For those wishing to deepen their knowledge of financial markets, the authors have written a companion book Financial Engineering: Derivatives and Risk Management.

Product Details

• Amazon Sales Rank: #299745 in Books
• Published on: 2001-04-25
• Original language: English
• Number of items: 1
• Binding: Paperback
• 714 pages

From the Back Cover
Based on class–tested material, this book is an excellent introduction to global financial markets. The authors link theory and real world issues in their coverage of equity, bond and FX strategies including methods such as chartism, neural networks and chaos theory. This practical approach is also applied to topics in corporate finance, including valuation of companies using NPV and other techniques such as economic value added (EVA), adjusted present value (APV) and real options theory. Raising funds in the money markets and via equity and debt securities, as well as dividend and merger policy provide further practical illustrations of theoretical ideas. Futures, options and swaps and their use in speculation, hedging and arbitrage are also examined.
The text covers behaviour in financial markets, decisions in corporate finance and wider public policy issues. It is aimed at final year undergraduates, MBA and MSc students and those undertaking professional qualifications in finance. For those wishing to deepen their knowledge of financial markets, the authors have written a companion book Financial Engineering: Derivatives and Risk Management
Features include:
∗ topic boxes on current policy issues and newspaper extracts, giving practical applications and real world context of the ideas presented
∗ 2 colour in–text design
∗ clear, simple and consistent mathematical notation, with worked examples and end of chapter questions
∗ supporting website including Lecturer′s Resource Pack and Student Centre with interactive Excel and GAUSS software

About the Author
KEITH CUTHBERTSON is Professor of Finance at the Management School, Imperial College. He has been an advisor to the Bank of England and UK Treasury and a visitor at the Federal Reserve. He has held chairs at the University of Newcastle and City University Business School, as well as undertaking consultancy with financial institutions. He is the author of another Wiley title, Quantitative Financial Economics.

DIRK NITZSCHE is a lecturer in Finance at the Management School, Imperial College. He is also a Visiting Lecturer at City University Business School.

Customer Reviews

Excellent value and an excellent choice for an introductory course
Keith Cuthbertson and Dirk Nitzsche have done it again with the second edition of their original "Investments" and this is an excellent text for those in undergraduate finance or economics programs, graduate MBA programs, or MSc programs that are not exclusively focused on finance. That last caveat is simply because this text is straightforward and easy to read and comprehend, but it is also deceptively simple and could lull an MSF student into thinking this is the beginning and the end. Cuthbertson and Nitzsche's own bibliography defeats that assumption. I would also recommend this book as a primer and review for those PhD candidates finance who need a revision text for comprehensives.

The changes in this edition are a re-focus on practical issues, with particular attention to *valuation* (Benninga and Sarig's "Corporate Finance A Valuation Approach" is a good specialized text). There is expanded material on choice in discount rates, and an excellent and welcome expansion on international portfolio allocation with attention on strategic and tactical allocation. In addition, the fixed income, swaps, and portfolio manager analysis (mutual funds, hedge funds, and private equity) are expanded. Throughout the authors have an engaging style, striking a fine balance between understated amusement but at the same time treating the topics seriously. Their well-intentioned likeable personalities shine through, making the prose easy to read.

The paperback edition is a bit flimsy for use by a professor who will be reusing the text, but is adequate for students and day-to-day reference. The type is clear and the layout and graphics are well-chosen and appropriate, and there is adequate margin room for making your own annotations.