This applications-oriented text transitions from theory to practice in a clear, straightforward manner. An ideal text for schools that do not have a "pure" portfolio course, it accomplishes the objectives of both a traditional investments course and a portfolio theory course. The book balances coverage of both the small and large investor, and offers unique coverage of topics notfound in other texts, such as fiduciary duty and investment policy. Numerous references and questions form the CFA exam are also included.