Investments : Analysis and Management

The First Edition of Investments by Cleary and Jones was highly regarded as being student-friendly, accessible, and focused on the real-world of investments. The Second Edition continues this by adding more real-world material, strengthening its focus on the CFA, expanding the complexity of the problem material, and incorporating a new design. Investments by Cleary & Jones provides a balanced approach to the discipline - it provides all of the necessary theoretical coverage to complete the course while providing students with a strong sense of what actually happens "on the street." Students do not get lost in unnecessary and long theoretical discussions, and are easily able to see how concepts are used in the investments world.

PART ONE: BACKGROUNDCHAPTER 1 : UNDERSTANDING INVESTMENTS The Purpose of this Textbook The Nature of Investments Some Definitions Investing as a Part of Personal Financial Planning Why Do We Invest? The Importance of Studying InvestmentsUnderstanding the Investment Decision Process The Basis of Investment Decisions The Expected Risk-Return Trade-Off Structuring the Decision Process Important Considerations in the Investment Decision Process The Great Unknown The Global Investments Arena The New Economy versus The Old Economy The Rise of the Internet Institutional Investors The Issue of Market Efficiency Corporate Governance Appendix 1-A: Professional Educational Alternatives Appendix 1-B: The Canadian Securities Course (CSC) Appendix 1-C: The Chartered Financial Analyst ProgramCHAPTER 2: INVESTMENT ALTERNATIVES Organizing Financial Assets An International Perspective Non-Marketable Financial Assets Money Market Securites Capital Market Securites Fixed-Income Securities Asset-Backed Securities Equity Securities Derivative Securites Options Futures Contracts Appendix 2-A: Taxation of Investment Income in CanadaCHAPTER 3: INVESTMENT FUNDS Investing Indirectly Investing Indirectly through Investment Funds What Is an Investment Fund? Types of Investment Funds Unit Investment Trust Closed-End Investment Funds Open-End Investment Funds (Mutual Funds) Major Types of Mutual Funds Money Market Funds Equity and Bond & Income Funds Indirect Investment Transactions Closed-End Funds Mutual Funds Exchange-Traded Funds (ETFs) Distinguishing among ETFs, Closed-End Funds, and Mutual Funds Segregated Funds Labour Sponsored Venture Capital Corporations (LSVCCs) Investment Funds and Performance Benchmarks How Important Are Expenses? Mutual Fund Ratings Consistency of Performance Investing Internationally through Investment Funds New Developments in International Investing The Future of Indirect InvestingCHAPTER 4 : SECURITIES MARKETS The Importance of Financial Markets The Primary Markets Investment Dealers The Underwriting Process The Prompt Offering Qualification (POP) System The Listing Process Global Security Issues Private Placements The Secondary Markets Equity Securities - Auction Markets Equity Securities - Negotiated Markets The Third and Fourth Markets After-Hours Trading In-House Trading Comparison of International Equity Markets Stock Market Indicators Bond Markets Derivatives Markets The Changing Securites The Globalization of Securities Markets Appendix 4-A: Stock Market IndexesCHAPTER 5 : HOW SECURITIES ARE TRADED Brokerage Transactions Brokerage Firms Stockbrokers or Financial Consultants? Types of Brokerage Accounts Commissions Electronic Trading and the Internet Investing without a Broker How Orders Work Orders on the Organized Exchanges Orders in the Over-the-Counter Market Types of Orders Clearing Proc