Investments BKM 13th edition

In an effort to link theory to practice, the authors make their approach consistent with that of the CFA Institute.

Many features of this text make it consistent with and relevant to the CFA curriculum. The common unifying theme is that security markets are nearly efficient, meaning that most securities are priced appropriately given their risk and return attributes. Investments is alsoorganized around several important The central theme is the near informational-efficiency of well-developed security markets and the general awareness that competitive markets do not offer "free lunches" to participants. A second theme is the risk–return trade-off. Also, this text places great emphasis on asset allocation. Finally, this text offers a broad and deep treatment of futures, options, and other derivative security markets.