Learn to manage your money to maximize your earning potential with Reilly/Brown/Leeds' INVESTMENT ANALYSIS AND PORTFOLIO MANAGEMENT, 12th Edition. The extremely reader-friendly, succinct 18 chapters equips you with a solid understanding of investment instruments, capital markets, behavioral finance, hedge funds, international investing and much more. Real-world examples and hands-on applications bring chapter concepts to life as you learn to use the same tools as investment professionals. The 12th edition's unparalleled international coverage provides specific information on non-U.S. markets, instruments, conventions and techniques. New detailed discussions explain the impact of changes in both technology, regulations and ESG mandates on global security markets. In addition, three chapters are devoted to derivatives securities, which are now standard investment instruments.
1. The Investment Setting.
2. Asset Allocation and Security Selection.
3. Organization and Functioning of Securities Markets.
4. Security Market Indexes and Index Funds.
5. Efficient Capital Markets, Behavioral Finance and Technical Analysis.
6. Introduction to Portfolio Management.
7. Asset Pricing Models.
8. Equity Valuation.
9. The Top-Down Approach to Market, Industry, and Company Analysis.
10. The Practice of Fundamental Investing.
11. Equity Portfolio Management Strategies.
12. Bond Fundamentals and Valuation.
13. Bond Analysis and Portfolio Management Strategies.
14. An Introduction to Derivative Markets and Securities.
15. Forward, Futures, and Swap Contracts.
16. Option Contracts.
17. Professional Portfolio Management, Alternative Assets, and Industry Ethics.
18. Evaluation of Portfolio Performance.
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Frank K. Reilly
Frank K. Reilly, a Chartered Financial Analyst (CFA), is the Bernard J. Hank Professor of Finance, Mendoza College of Business, University of Notre Dame, where he served as dean from 1981-1987. Prior to 1981, Dr. Reilly was a professor at the University of Illinois at Urbana-Champaign, the University of Wyoming, and the University of Kansas. Recently, he was part of the inaugural group selected as a fellow of the Financial Management Association International. At the 2001 AIMR annual meeting in Los Angeles, he received the Daniel J. Forrestal III Leadership Award for Professional Ethics and Standards of Investment Practice. Among his other honors, Professor Reilly was included in the list of Outstanding Educators in America, received the Alumni Excellence in Graduate Teaching Award and the Outstanding Educator Award from the M.B.A. class at the University of Illinois, the Outstanding Teachers Award from the M.B.A. class at the University of Notre Dame, and the Faculty Award from the University of Notre Dame. He received his B.B.A. at the University of Notre Dame, his M.B.A. at Northwestern University, and his Ph.D. at the University of Chicago.
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Keith C. Brown
Keith C. Brown, a Chartered Financial Analyst (CFA), is the Jack S. Josey Professor, University Distinguished Teaching Professor, and Fayez Sarofim Fellow at the McCombs School of Business at the University of Texas at Austin, where he teaches Investments, Portfolio Management and Security Analysis, Capital Markets, and Derivatives courses at the BBA and MBA levels. He is president and CEO of The MBA Investment Fund, LLC, a private capital appreciation fund managed by UT graduate students, and the former director of the department's Hicks, Muse, Tate & Furst Center for Private Equity Finance. Professor Brown is cofounder and senior partner of Fulcrum Financial Group, a portfolio management and investment advisory firm located in Austin, Texas, and Las Vegas, Nevada. He serves as an advisor to the boards of the Teacher Retirement System of Texas and the University of Texas Investment Management Company. He is an associate editor for the JOURNAL OF INVESTMENT MANAGEMENT and the JOURNAL OF BEHAVIORAL FINANCE. He received his B.A. from San Diego State University and his M.S. and Ph.D. from Purdue University.
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Sanford J. Leeds
Sanford J. Leeds is a distinguished senior lecturer at the University of Texas' McCombs School of Business, where he has been a member of the faculty for 16 years. For 13 of those years, he also served as president of The MBA Investment Fund LLC, a privately funded investment company managed by graduate students at the University of Texas. Professor Leeds' numerous teaching awards include three schoolwide awards: the Joe D. Beasley Teaching Award, the CBA Foundation Advisory Council Award for Teaching Innovation and the Jim Nolen Award for Excellence in Graduate Teaching. His recognition from his students includes multiple Outstanding MBA Professor Awards and Outstanding MSF Professor Awards. In 2015, he was selected to be a Provost Teaching Fellow and served on the steering committee of that organization. He currently serves as a Senior Provost Fellow. He received a B.S. in Investment Analysis from the University of Alabama, an MBA from the University of Texas and a J.D. from the University of Virginia. Professor Leeds received the Chartered Financial Analyst designation in 1998. He has served the CFA Institute as a grader, a member of the Candidate Curriculum Committee and an editor of a candidate reading section. He is also a member of the Texas State Bar.
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The text provides a balanced, conceptual and practical presentation. Starting with establishing a solid conceptual foundation that includes both classic and state-of-the-art theoretical contributions in portfolio management, security valuation and analysis and asset allocation, the text illustrates these principles with a multitude of practical examples and hands-on exercises that allow students to appreciate how theory is actually put into practice when it comes to forming and managing investment portfolios.
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The text contains revised examples and concepts and well as new coverage of such topics as the role that cryptocurrencies can play in the asset allocation process, the transition from LIBOR to SOFR in floating-rate securities and derivative agreements and how ESG principles are integrated into security selection decisions. Our discussion of capital market efficiency and behavioral finance topics has also been thoroughly revised and streamlined in a way that makes this material far more accessible to the reader.
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Ethics Emphasis: Insightful discussions of codes of ethics highlight the importance -- and sometimes lack -- of ethics in today's financial markets, prompting students to examine and shore up their personal principles and values and make the important decisions well before they actually have to face them.
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Concise Presentation: More streamlined than ever, the 12th edition delivers comprehensive yet succinct coverage, providing just the right amount of detail to ensure solid student understanding while providing the flexibility to cover more ground in the span of the course.
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Global Perspective: The text continues to lead the market with the most comprehensive coverage of international issues available.
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Expanded Coverage: Important new concepts in the investment management landscape are discussed, including the role that cryptocurrencies may play in the asset allocation process as well as how environmental, social and governance (ESG) mandates are incorporated into investment portfolio decision-making.
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