This book offers accurate and intuitive coverage of investments, with an emphasis on portfolio theory -- it also includes extensive discussion of capital asset pricing, arbitrage pricing, pricing of derivative securities, interest rates, and bond management. KEY TOPICS: Stock valuation, estimating future earnings and dividends, and fixed income markets are examined closely. It contains a complete and detailed coverage of portfolio theory, including a unique graphical explanation of the Markowitz procedure; material on portfolio selection is backed up by computer problems and powerful, easyżtożuse portfolio analysis modules within the software that accompanies the book; and issues related to capital asset pricing are given extensive coverage and the Capital Asset Pricing Model is covered in great detail, including the FamażFrench results.