Bodie/Kane/Marcus is the leading textbook in the graduate investments market. It is recognized as the best blend of practical and theoretical coverage, while maintaining an appropriate rigor and clear writing style. Its unifying theme is that security markets are nearly efficient, meaning that most securities are usually priced appropriately given their risk and return attributes. The text places greater emphasis on asset allocation, and offers a much broader and deeper treatment of futures, options, and other derivative security markets than most investment texts.



New to This Edition :

*New Excel applications are included. This feature begins with an example presented in the chapter, then briefly discusses how a spreadsheet can be valuable for investigating the topic, shows a sample spreadsheet, and then asks questions that can be answered using that spreadsheet. Students can obtain the spreadsheet from the book's web site (www.mhhe.com/bkm).

*Chapter 9 includes a large new section on the Capital Asset Pricing Model. There is also more information on liquidity and asset returns. This new information keeps the book current, and provides instructors and students with the latest information for this dynamic course. ? There is much more Internet material throughout the text, including chapter related weblinks, activities, and exercises for the students. Chapter 26 (The Process of Portfolio Management) has new additional information on Internet assisted portfolio trading. The endsheets will cite web assets in the book.

*International content and examples have been expanded to expose students to this important aspect of business.

*Chapter 3 (How Securities are Traded), includes a great deal of new information to keep the book as cutting edge as possible, with coverage of "e-trading" (also addressed in chapters 4 and 17). ? The key content from the former Chapter 27 (Risk Management and Hedging) has been integrated with the 4 chapters on options and futures. It is no longer a separate chapter.

*Chapter 12 includes new content on Behavioral Finance, which is an important "hot" topic in which faculty are very interested.

*Each copy of the text will be packaged with FREE access to the educational version of Standard & Poor's Market Insight. This rich online resource provides 6 years of financial data for 100 top companies in the U.S. It is great for faculty that like to use real-world data in their course.