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Investments / Zvi Bodie, Boston University, Alex Kane, University of California, San Diego, Alan J. Marcus, Boston College.
Author
Bodie, Zvi
[Browse]
Format
Book
Language
English
Εdition
Tenth edition.
Published/Created
New York : McGraw-Hill Education, [2014]
©2014
Description
1 volume (various pagings) : illustrations ; 27 cm
Availability
Copies in the Library
Location
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Status
Location Service
Notes
Firestone Library - Stacks
HG4521 .B564 2014
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Details
Subject(s)
Investments
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Portfolio management
[Browse]
Author
Kane, Alex, 1942-
[Browse]
Marcus, Alan J.
[Browse]
Series
McGraw-Hill/Irwin series in finance, insurance, and real estate
[More in this series]
The McGraw-Hill/Irwin series in finance, insurance and real estate
Notes
Includes indexes.
Bibliographic references
Includes bibliographical references and indexes.
Contents
Machine generated contents note: pt. I Introduction
ch. 1 The Investment Environment
1.1. Real Assets versus Financial Assets
1.2. Financial Assets
1.3. Financial Markets and the Economy
The Informational Role of Financial Markets/Consumption Timing/Allocation of Risk/Separation of Ownership and Management/Corporate Governance and Corporate Ethics
1.4. The Investment Process
1.5. Markets Are Competitive
The Risk--Return Trade-Off/Efficient Markets
1.6. The Players
Financial Intermediaries/Investment Bankers/Venture Capital and Private Equity
1.7. The Financial Crisis of 2008
Antecedents of the Crisis/Changes in Housing Finance/Mortgage Derivatives/Credit Default Swaps/The Rise of Systemic Risk/The Shoe Drops/The Dodd-Frank Reform Act
1.8. Outline of the Text
End of Chapter Material
ch. 2 Asset Classes and Financial Instruments
2.1. The Money Market.
Contents note continued: Treasury Bills/Certificates of Deposit/Commercial Paper/Bankers `Acceptances/Eurodollars/Repos and Reverses/Federal Funds/Brokers' Calls/The LIBOR Market/Yields on Money Market Instruments
2.2. The Bond Market
Treasury Notes and Bonds/Inflation-Protected Treasury Bonds/Federal Agency Debt/International Bonds/Municipal Bonds/Corporate Bonds/Mortgages and Mortgage-Backed Securities
2.3. Equity Securities
Common Stock as Ownership Shares/Characteristics of Common Stock/Stock Market Listings/Preferred Stock/Depository Receipts
2.4. Stock and Bond Market Indexes
Stock Market Indexes/Dow Jones Averages/Standard & Poor's Indexes/Other U.S. Market-Value Indexes/Equally Weighted Indexes/Foreign and International Stock Market Indexes/Bond Market Indicators
2.5. Derivative Markets
Options/Futures Contracts
ch. 3 How Securities Are Traded
3.1. How Firms Issue Securities.
Contents note continued: Privately Held Firms/Publicly Traded Companies/Shelf Registration/Initial Public Offerings
3.2. How Securities Are Traded
Types of Markets
Direct Search Markets/Brokered Markets/Dealer Markets/Auction Markets
Types of Orders
Market Orders/Price-Contingent Orders
Trading Mechanisms
Dealer Markets/Electronic Communication Networks (ECNs)
Specialist Markets
3.3. The Rise of Electronic Trading
3.4.U.S. Markets
NASDAQ/The New York Stock Exchange/ECNs
3.5. New Trading Strategies
Algorithmic Trading/High-Frequency Trading/Dark Pools/Bond Trading
3.6. Globalization of Stock Markets
3.7. Trading Costs
3.8. Buying on Margin
3.9. Short Sales
3.10. Regulation of Securities Markets
Self-Regulation/The Sarbanes-Oxley Act/Insider Trading
ch. 4 Mutual Funds and Other Investment Companies
4.1. Investment Companies
4.2. Types of Investment Companies.
Contents note continued: Unit Investment Trusts/Managed Investment Companies/Other Investment Organizations
Commingled Funds/Real Estate Investment Trusts (REITs)/Hedge Funds
4.3. Mutual Funds
Investment Policies
Money Market Funds/Equity Funds/Sector Funds/Bond Funds/International Funds/Balanced Funds/Asset Allocation and Flexible Funds/Index Funds How Funds Are Sold
4.4. Costs of Investing in Mutual Funds
Fee Structure
Operating Expenses/Front-End Load/Back-End Load/12b-1 Charges
Fees and Mutual Fund Returns
4.5. Taxation of Mutual Fund Income
4.6. Exchange-Traded Funds
4.7. Mutual Fund Investment Performance: A First Look
4.8. Information on Mutual Funds
pt. II Portfolio Theory and Practice
ch. 5 Risk, Return, and the Historical Record
5.1. Determinants of the Level of Interest Rates.
Contents note continued: Real and Nominal Rates of Interest/The Equilibrium Real Rate of Interest/The Equilibrium Nominal Rate of Interest/Taxes and the Real Rate of Interest
5.2.Comparing Rates of Return for Different Holding Periods
Annual Percentage Rates/Continuous Compounding
5.3. Bills and Inflation, 1926--2012
5.4. Risk and Risk Premiums
Holding-Period Returns/Expected Return and Standard Deviation/Excess Returns and Risk Premiums
5.5. Time Series Analysis of Past Rates of Return
Time Series versus Scenario Analysis/Expected Returns and the Arithmetic Average/The Geometric (Time-Weighted) Average Return/Variance and Standard Deviation/Mean and Standard Deviation Estimates from Higher-Frequency Observations/The Reward-to-Volatility (Sharpe) Ratio
5.6. The Normal Distribution
5.7. Deviations from Normality and Risk Measures.
Contents note continued: Value at Risk/Expected Shortfall/Lower Partial Standard Deviation and the Sortino Ratio/Relative Frequency of Large, Negative 3-Sigma Returns
5.8. Historic Returns on Risky Portfolios
Portfolio Returns/A Global View of the Historical Record
5.9. Long-Term Investments
Normal and Lognormal Returns/Simulation of Long-Term Future Rates of Return/The Risk-Free Rate Revisited/Where Is Research on Rates of Return Headed?/Forecasts for the Long Haul
ch. 6 Capital Allocation to Risky Assets
6.1. Risk and Risk Aversion
Risk, Speculation, and Gambling/Risk Aversion and Utility Values/Estimating Risk Aversion
6.2. Capital Allocation across Risky and Risk-Free Portfolios
6.3. The Risk-Free Asset
6.4. Portfolios of One Risky Asset and a Risk-Free Asset
6.5. Risk Tolerance and Asset Allocation
Nonnormal Returns
6.6. Passive Strategies: The Capital Market Line
End of Chapter Material.
Contents note continued: Appendix A Risk Aversion, Expected Utility, and the St. Petersburg Paradox
Appendix B Utility Functions and Equilibrium Prices of Insurance Contracts
Appendix C The Kelly Criterion
ch. 7 Optimal Risky Portfolios
7.1. Diversification and Portfolio Risk
7.2. Portfolios of Two Risky Assets
7.3. Asset Allocation with Stocks, Bonds, and Bills
Asset Allocation with Two Risky Asset Classes
7.4. The Markowitz Portfolio Optimization Model
Security Selection/Capital Allocation and the Separation Property/The Power of Diversification/Asset Allocation and Security Selection/Optimal Portfolios and Nonnormal Returns
7.5. Risk Pooling, Risk Sharing, and the Risk of Long-Term Investments
Risk Pooling and the Insurance Principle/Risk Sharing/Investment for the Long Run
Appendix A A Spreadsheet Model for Efficient Diversification
Appendix B Review of Portfolio Statistics
ch. 8 Index Models.
Contents note continued: 8.1.A Single-Factor Security Market
The Input List of the Markowitz Model/Normality of Returns and Systematic Risk
8.2. The Single-Index Model
The Regression Equation of the Single-Index Model/The Expected Return-Beta Relationship/Risk and Covariance in the Single-Index Model/The Set of Estimates Needed for the Single-Index Model/The Index Model and Diversification
8.3. Estimating the Single-Index Model
The Security Characteristic Line for Hewlett-Packard/The Explanatory Power of the SCL for HP/Analysis of Variance/The Estimate of Alpha/The Estimate of Beta/Firm-Specific Risk/Correlation and Covariance Matrix
8.4. Portfolio Construction and the Single-Index Model
Alpha and Security Analysis/The Index Portfolio as an Investment Asset/The Single-Index-Model Input List/The Optimal Risky Portfolio in the Single-Index Model/The Information Ratio/Summary of Optimization Procedure/An Example.
Contents note continued: Risk Premium Forecasts/The Optimal Risky Portfolio
8.5. Practical Aspects of Portfolio Management with the Index Model
Is the Index Model Inferior to the Full-Covariance Model?/The Industry Version of the Index Model/Predicting Betas/Index Models and Tracking Portfolios
pt. III Equilibrium in Capital Markets
ch. 9 The Capital Asset Pricing Model
9.1. The Capital Asset Pricing Model
Why Do All Investors Hold the Market Portfolio?/The Passive Strategy Is Efficient/The Risk Premium of the Market Portfolio/Expected Returns on Individual Securities/The Security Market Line/The CAPM and the Single-Index Market
9.2. Assumptions and Extensions of the CAPM
Assumptions of the CAPM/Challenges and Extensions to the CAPM/The Zero-Beta Model/Labor Income and Nontraded Assets/A Multiperiod Model and Hedge Portfolios/A Consumption-Based CAPM/Liquidity and the CAPM
9.3. The CAPM and the Academic World.
Contents note continued: 9.4. The CAPM and the Investment Industry
ch. 10 Arbitrage Pricing Theory and Multifactor Models of Risk and Return
10.1. Multifactor Models: An Overview
Factor Models of Security Returns
10.2. Arbitrage Pricing Theory
Arbitrage, Risk Arbitrage, and Equilibrium/Well-Diversified Portfolios/Diversification and Residual Risk in Practice/Executing Arbitrage/The No-Arbitrage Equation of the APT
10.3. The APT, the CAPM, and the Index Model
The APT and the CAPM/The APT and Portfolio Optimization in a Single-Index Market
10.4.A Multifactor APT
10.5. The Fama-French (FF) Three-Factor Model
ch. 11 The Efficient Market Hypothesis
11.1. Random Walks and the Efficient Market Hypothesis
Competition as the Source of Efficiency/Versions of the Efficient Market Hypothesis
11.2. Implications of the EMH.
Contents note continued: Technical Analysis/Fundamental Analysis/Active versus Passive Portfolio Management/The Role of Portfolio Management in an Efficient Market/Resource Allocation
11.3. Event Studies
11.4. Are Markets Efficient?
The Issues
The Magnitude Issue/The Selection Bias Issue/The Lucky Event Issue
Weak-Form Tests: Patterns in Stock Returns
Returns over Short Horizons/Returns over Long Horizons
Predictors of Broad Market Returns/Semistrong Tests: Market Anomalies
The Small-Firm-in-January Effect/The Neglected-Firm Effect and Liquidity Effects/Book-to-Market Ratios/Post-Earnings-Announcement Price Drift
Strong-Form Tests: Inside Information/Interpreting the Anomalies
Risk Premiums or Inefficiencies?/Anomalies or Data
Mining?/Anomalies over Time
Bubbles and Market Efficiency
11.5. Mutual Fund and Analyst Performance
Stock Market Analysts/Mutual Fund Managers/So, Are Markets Efficient?
Contents note continued: ch. 12 Behavioral Finance and Technical Analysis
12.1. The Behavioral Critique
Information Processing
Forecasting Errors/Overconfidence/Conservatism/Sample Size Neglect and Representativeness
Behavioral Biases
Framing/Mental Accounting/Regret Avoidance Affect
Prospect Theory
Limits to Arbitrage
Fundamental Risk/Implementation Costs/Model Risk
Limits to Arbitrage and the Law of One Price
"Siamese Twin" Companies/Equity Carve-Outs/Closed-End Funds
Bubbles and Behavioral Economics/Evaluating the Behavioral Critique
12.2. Technical Analysis and Behavioral Finance
Trends and Corrections
Momentum and Moving Averages/Relative Strength/Breadth
Sentiment Indicators
Trin Statistic/Confidence Index/Put/Call Ratio
A Warning
ch. 13 Empirical Evidence on Security Returns
13.1. The Index Model and the Single-Factor APT
The Expected Return-Beta Relationship.
Contents note continued: Setting Up the Sample Data/Estimating the SCL/Estimating the SML Tests of the CAPM/The Market Index/Measurement Error in Beta
13.2. Tests of the Multifactor CAPM and APT
Labor Income/Private (Nontraded) Business/Early Versions of the Multifactor CAPM and APT/A Macro Factor Model
13.3. Fama-French-Type Factor Models
Size and B/M as Risk Factors/Behavioral Explanations/Momentum: A Fourth Factor
13.4. Liquidity and Asset Pricing
13.5. Consumption-Based Asset Pricing and the Equity Premium Puzzle
Consumption Growth and Market Rates of Return/Expected versus Realized Returns/Survivorship Bias/Extensions to the Capm May Resolve the Equity Premium Puzzle/Liquidity and the Equity Premium Puzzle/Behavioral Explanations of the Equity Premium Puzzle
pt. IV Fixed-Income Securities
ch. 14 Bond Prices and Yields
14.1. Bond Characteristics
Treasury Bonds and Notes
Accrued Interest and Quoted Bond Prices.
Contents note continued: Corporate Bonds
Call Provisions on Corporate Bonds/Convertible Bonds/Puttable Bonds/Floating-Rate Bonds
Preferred Stock/Other Domestic Issuers/International Bonds/Innovation in the Bond Market
Inverse Floaters/Asset-Backed Bonds/Catastrophe
Bonds/Indexed Bonds
14.2. Bond Pricing
Bond Pricing between Coupon Dates
14.3. Bond Yields
Yield to Maturity/Yield to Call/Realized Compound Return versus Yield to Maturity
14.4. Bond Prices over Time
Yield to Maturity versus Holding-Period Return/Zero-Coupon Bonds and Treasury Strips/After-Tax Returns
14.5. Default Risk and Bond Pricing
Junk Bonds/Determinants of Bond Safety/Bond Indentures
Sinking Funds/Subordination of Further Debt/Dividend Restrictions/Collateral
Yield to Maturity and Default Risk/Credit Default Swaps/Credit Risk and Collateralized Debt Obligations
ch. 15 The Term Structure of Interest Rates
15.1. The Yield Curve.
Contents note continued: Bond Pricing
15.2. The Yield Curve and Future Interest Rates
The Yield Curve under Certainty/Holding-Period Returns/Forward Rates
15.3. Interest Rate Uncertainty and Forward Rates
15.4. Theories of the Term Structure
The Expectations Hypothesis/Liquidity Preference
15.5. Interpreting the Term Structure
15.6. Forward Rates as Forward Contracts
ch. 16 Managing Bond Portfolios
16.1. Interest Rate Risk
Interest Rate Sensitivity/Duration/What Determines Duration?
Rule 1 for Duration/Rule 2 for Duration/Rule 3 for Duration/Rule 4 for Duration/Rule 5 for Duration
16.2. Convexity
Why Do Investors Like Convexity?/Duration and Convexity of Callable Bonds/Duration and Convexity of Mortgage-Backed Securities
16.3. Passive Bond Management
Bond-Index Funds/Immunization/Cash Flow Matching and Dedication/Other Problems with Conventional Immunization
16.4. Active Bond Management.
Contents note continued: Sources of Potential Profit/Horizon Analysis
pt. V Security Analysis
ch. 17 Macroeconomic and Industry Analysis
17.1. The Global Economy
17.2. The Domestic Macroeconomy
17.3. Demand and Supply Shocks
17.4. Federal Government Policy
Fiscal Policy/Monetary Policy/Supply-Side Policies
17.5. Business Cycles
The Business Cycle/Economic Indicators/Other Indicators
17.6. Industry Analysis
Defining an Industry/Sensitivity to the Business Cycle/Sector Rotation/Industry Life Cycles
Start-Up Stage/Consolidation Stage/Maturity Stage/Relative Decline
Industry Structure and Performance
Threat of Entry/Rivalry between Existing Competitors/Pressure from Substitute Products/Bargaining Power of Buyers/Bargaining Power of Suppliers
ch. 18 Equity Valuation Models
18.1. Valuation by Comparables
Limitations of Book Value
18.2. Intrinsic Value versus Market Price.
Contents note continued: 18.3. Dividend Discount Models
The Constant-Growth DDM/Convergence of Price to Intrinsic Value/Stock Prices and Investment Opportunities/Life Cycles and Multistage Growth Models/Multistage Growth Models
18.4. Price-Earnings Ratio
The Price-Earnings Ratio and Growth Opportunities/P/E Ratios and Stock Risk/Pitfalls in P/E Analysis/Combining P/E Analysis and the DDM/Other Comparative Valuation Ratios
Price-to-Book Ratio/Price-to-Cash-Flow Ratio/Price-to-Sales Ratio
18.5. Free Cash Flow Valuation Approaches
Comparing the Valuation Models/The Problem with DCF Models
18.6. The Aggregate Stock Market
ch. 19 Financial Statement Analysis
19.1. The Major Financial Statements
The Income Statement/The Balance Sheet/The Statement of Cash Flows
19.2. Measuring Firm Performance
19.3. Profitability Measures.
Contents note continued: Return on Assets, ROA/Return on Capital, ROC/Return on Equity, ROE/Financial Leverage and ROE/Economic Value Added
19.4. Ratio Analysis
Decomposition of ROE/Turnover and Other Asset Utilization Ratios/Liquidity Ratios/Market Price Ratios: Growth versus Value/Choosing a Benchmark
19.5. An Illustration of Financial Statement Analysis
19.6.Comparability Problems
Inventory Valuation/Depreciation/Inflation and Interest Expense/Fair Value Accounting/Quality of Earnings and Accounting Practices/International Accounting Conventions
19.7. Value Investing: The Graham Technique
pt. VI Options, Futures, and Other Derivatives
ch. 20 Options Markets: Introduction
20.1. The Option Contract
Options Trading/American and European Options/Adjustments in Option Contract Terms/The Options Clearing Corporation/Other Listed Options
Index Options/Futures Options/Foreign Currency Options/Interest Rate Options.
Contents note continued: 20.2. Values of Options at Expiration
Call Options/Put Options/Option versus Stock Investments
20.3. Option Strategies
Protective Put/Covered Calls/Straddle/Spreads/Collars
20.4. The Put-Call Parity Relationship
20.5. Option-Like Securities
Callable Bonds/Convertible Securities/Warrants/Collateralized Loans/Levered Equity and Risky Debt
20.6. Financial Engineering
20.7. Exotic Options
Asian Options/Barrier Options/Lookback Options/Currency-Translated Options/Digital Options
ch. 21 Option Valuation
21.1. Option Valuation: Introduction
Intrinsic and Time Values/Determinants of Option Values
21.2. Restrictions on Option Values
Restrictions on the Value of a Call Option/Early Exercise and Dividends/Early Exercise of American Puts
21.3. Binomial Option Pricing
Two-State Option Pricing/Generalizing the Two-State Approach/Making the Valuation Model Practical.
Contents note continued: 21.4. Black-Scholes Option Valuation
The Black-Scholes Formula/Dividends and Call Option Valuation/Put Option Valuation/Dividends and Put Option Valuation
21.5. Using the Black-Scholes Formula
Hedge Ratios and the Black-Scholes Formula/Portfolio Insurance/Option Pricing and the Crisis of 2008--2009/Option Pricing and Portfolio Theory/Hedging Bets on Mispriced Options
21.6. Empirical Evidence on Option Pricing
ch. 22 Futures Markets
22.1. The Futures Contract
The Basics of Futures Contracts/Existing Contracts
22.2. Trading Mechanics
The Clearinghouse and Open Interest/The Margin Account and Marking to Market/Cash versus Actual Delivery/Regulations/Taxation
22.3. Futures Markets Strategies
Hedging and Speculation/Basis Risk and Hedging
22.4. Futures Prices
The Spot-Futures Parity Theorem/Spreads/Forward versus Futures Pricing
22.5. Futures Prices versus Expected Spot Prices.
Contents note continued: Expectations Hypothesis/Normal Backwardation/Contango/Modem Portfolio Theory
ch. 23 Futures, Swaps, and Risk Management
23.1. Foreign Exchange Futures
The Markets/Interest Rate Parity/Direct versus Indirect Quotes/Using Futures to Manage Exchange Rate Risk
23.2. Stock-Index Futures
The Contracts/Creating Synthetic Stock Positions: An Asset Allocation Tool/Index Arbitrage/Using Index Futures to Hedge Market Risk
23.3. Interest Rate Futures
Hedging Interest Rate Risk
23.4. Swaps
Swaps and Balance Sheet Restructuring/The Swap Dealer/Other Interest Rate Contracts/Swap Pricing/Credit Risk in the Swap Market/Credit Default Swaps
23.5.Commodity Futures Pricing
Pricing with Storage Costs/Discounted Cash Flow Analysis for Commodity Futures
pt. VII Applied Portfolio Management
ch. 24 Portfolio Performance Evaluation
24.1. The Conventional Theory of Performance Evaluation.
Contents note continued: Average Rates of Return/Time-Weighted Returns versus Dollar-Weighted Returns/Dollar-Weighted Return and Investment Performance/Adjusting Returns for Risk/The M2 Measure of Performance/Sharpe's Ratio Is the Criterion for Overall Portfolios/Appropriate Performance Measures in Two Scenarios
Jane's Portfolio Represents Her Entire Risky Investment Fund/Jane's Choice Portfolio Is One of Many Portfolios Combined into a Large-Investment Fund The Role of Alpha in Performance Measures/Actual Performance Measurement: An Example/Performance Manipulation and the Morningstar Risk-Adjusted Rating/Realized Returns versus Expected [ect.]
24.2. Performance Measurement for Hedge Funds
24.3. Performance Measurement with Changing Portfolio Composition
24.4. Market Timing
The Potential Value of Market Timing/Valuing Market Timing as a Call Option/The Value of Imperfect Forecasting
24.5. Style Analysis.
Contents note continued: Style Analysis and Multifactor Benchmarks/Style Analysis in Excel
24.6. Performance Attribution Procedures
Asset Allocation Decisions/Sector and Security Selection Decisions/Summing Up Component Contributions
ch. 25 International Diversification
25.1. Global Markets for Equities
Developed Countries/Emerging Markets/Market Capitalization and GDP/Home-Country Bias
25.2. Risk Factors in International Investing
Exchange Rate Risk/Political Risk
25.3. International Investing: Risk, Return, and Benefits from Diversification.
Contents note continued: Risk and Return: Summary Statistics/Are Investments in Emerging Markets Riskier?/Are Average Returns Higher in Emerging Markets?/Is Exchange Rate Risk Important in International Portfolios?/Benefits from International Diversification/Misleading Representation of Diversification Benefits/Realistic Benefits from International Diversification/Are Benefits from International Diversification Preserved in Bear [ect.]
25.4. Assessing the Potential of International Diversification
25.5. International Investing and Performance Attribution
Constructing a Benchmark Portfolio of Foreign Assets/Performance Attribution
ch. 26 Hedge Funds
26.1. Hedge Funds versus Mutual Funds
26.2. Hedge Fund Strategies
Directional and Nondirectional Strategies/Statistical Arbitrage
26.3. Portable Alpha
An Example of a Pure Play
26.4. Style Analysis for Hedge Funds
26.5. Performance Measurement for Hedge Funds.
Contents note continued: Liquidity and Hedge Fund Performance/Hedge Fund Performance and Survivorship Bias/Hedge Fund Performance and Changing Factor Loadings/Tail Events and Hedge Fund Performance
26.6. Fee Structure in Hedge Funds
ch. 27 The Theory of Active Portfolio Management
27.1. Optimal Portfolios and Alpha Values
Forecasts of Alpha Values and Extreme Portfolio Weights/Restriction of Benchmark Risk
27.2. The Treynor-Black Model and Forecast Precision
Adjusting Forecasts for the Precision of Alpha/Distribution of Alpha Values/Organizational Structure and Performance
27.3. The Black-Litterman Model
Black-Litterman Asset Allocation Decision/Step 1: The Covariance Matrix from Historical Data/Step 2: Determination of a Baseline Forecast/Step 3: Integrating the Manager's Private Views/Step 4: Revised (Posterior) Expectations/Step 5: Portfolio Optimization
27.4. Treynor-Black versus Black-Litterman: Complements, Not Substitutes.
Contents note continued: The BL Model as Icing on the TB Cake/Why Not Replace the Entire TB Cake with the BL Icing?
27.5. The Value of Active Management
A Model for the Estimation of Potential Fees/Results from the Distribution of Actual Information Ratios/Results from Distribution of Actual Forecasts/Results with Reasonable Forecasting Records
27.6. Concluding Remarks on Active Management
Appendix A Forecasts and Realizations of Alpha
Appendix B The General Black-Litterman Model
ch. 28 Investment Policy and the Framework of the CFA Institute
28.1. The Investment Management Process
Objectives/Individual Investors/Personal Trusts/Mutual Funds/Pension Funds/Endowment Funds/Life Insurance Companies/Non-Life Insurance Companies/Banks
28.2. Constraints
Liquidity/Investment Horizon/Regulations/Tax Considerations/Unique Needs
28.3. Policy Statements
Sample Policy Statements for Individual Investors
28.4. Asset Allocation.
Contents note continued: Taxes and Asset Allocation
28.5. Managing Portfolios of Individual Investors
Human Capital and Insurance/Investment in Residence/Saving for Retirement and the Assumption of Risk/Retirement Planning Models/Manage Your Own Portfolio or Rely on Others?/Tax Sheltering
The Tax-Deferral Option/Tax-Deferred Retirement Plans/Deferred Annuities/Variable and Universal Life Insurance
28.6. Pension Funds
Defined Contribution Plans/Defined Benefit Plans/Pension Investment Strategies
Investing in Equities/Wrong Reasons to Invest in Equities
28.7. Investments for the Long Run
Target Investing and the Term Structure of Bonds/Making Simple Investment Choices/Inflation Risk and Long-Term Investors
Show 371 more Contents items
ISBN
9780077861674 ((alk. paper))
0077861671 ((alk. paper))
9780077161149
0077161149
LCCN
2013016066
OCLC
841199202
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Investments / Zvi Bodie, Boston University, Alex Kane, University of California, San Diego, Alan J. Marcus, Boston College.
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