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Investments [Paperback]

Keith Cuthbertson , Dirk Nitzsche
3.7 out of 5 stars  See all reviews (3 customer reviews)
RRP: 47.99
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Book Description

25 July 2008
Designed for MBA and advanced undergraduate students taking a course in investments/introduction to finance/financial markets. These courses aim to introduce students to the financial markets and instruments (including money markets, fixed income, equities and FX markets). Investments provides an introduction to risk management and provides a real world flavour throughout. The authors include a lot of pedagogy, namely: chapter objectives summaries; end of chapter exercises; numerous real–world examples and case vignettes; Excel spreadsheets providing simulations for the reader; a glossary of terms; clear, simple and consistent mathematical notation.

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Product details

  • Paperback: 790 pages
  • Publisher: John Wiley & Sons; 2nd Edition edition (25 July 2008)
  • Language: English
  • ISBN-10: 0470519568
  • ISBN-13: 978-0470519561
  • Product Dimensions: 24 x 19 x 3 cm
  • Average Customer Review: 3.7 out of 5 stars  See all reviews (3 customer reviews)
  • Amazon Bestsellers Rank: 155,895 in Books (See Top 100 in Books)
  • See Complete Table of Contents

More About the Author

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Product Description

From the Back Cover

Based on class–tested material, this book is an excellent introduction to global financial markets. The authors link theory and real world issues in their coverage of equity, bond and FX strategies including methods such as chartism, neural networks and chaos theory. This practical approach is also applied to topics in corporate finance, including valuation of companies using NPV and other techniques such as economic value added (EVA), adjusted present value (APV) and real options theory. Raising funds in the money markets and via equity and debt securities, as well as dividend and merger policy provide further practical illustrations of theoretical ideas. Futures, options and swaps and their use in speculation, hedging and arbitrage are also examined.
The text covers behaviour in financial markets, decisions in corporate finance and wider public policy issues. It is aimed at final year undergraduates, MBA and MSc students and those undertaking professional qualifications in finance. For those wishing to deepen their knowledge of financial markets, the authors have written a companion book Financial Engineering: Derivatives and Risk Management
Features include:
∗ topic boxes on current policy issues and newspaper extracts, giving practical applications and real world context of the ideas presented
∗ 2 colour in–text design
∗ clear, simple and consistent mathematical notation, with worked examples and end of chapter questions
∗ supporting website including Lecturer′s Resource Pack and Student Centre with interactive Excel and GAUSS software --This text refers to an out of print or unavailable edition of this title.

About the Author

Keith Cuthbertson is Professor of Finance at Cass Business School. He has worked at H.M.Treasury, Bank of England, National Institute and at Tanaka Business School, Imperial College and the University of Newcastle. He has been a visitor at the Federal Reserve Bank, Washington and the Freije University, Berlin. He has undertaken consultancy and teaching in applied finance at various financial institutions and government organizations. Dirk Nitzsche is Senior Lecturer in Finance at Cass Business School. He joined the school in 2004 from Imperial College, London where he spent 6 years in the Business School.  After completing his Ph.D. at the University of Newcastle, he has worked in the Department of Economics at the University of Newcastle between 1994 and 1997, before joining City University Business School in 1997 and Imperial College in 1998. His research interests can broadly be described as asset pricing and efficiency of financial markets and more recently he analyses the performance of unit trusts and hedge funds.

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Customer Reviews

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Most Helpful Customer Reviews
3 of 3 people found the following review helpful
1.0 out of 5 stars Avoid at any cost 25 Feb 2011
Bought this book as I took a course taught by one of the authors (Nietczhe). The book is a poor copy of Invesments (Bodie, Kane, Marcus). The layout od the book is very confusing, it tends to explain simple concepts in a complicated manner and reflects the limitations of the authors. In terms of preparing for exams its useless.
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Excellent book. Very concise, well written and easy to follow. It had been a number of years since I studied any of these concepts and the book brought me back up to speed in no time. Would be very good for students looking to refresh their understanding, or for students new to the field.
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4 of 6 people found the following review helpful
Keith Cuthbertson and Dirk Nitzsche have done it again with the second edition of their original "Investments" and this is an excellent text for those in undergraduate finance or economics programs, graduate MBA programs, or MSc programs that are not exclusively focused on finance. That last caveat is simply because this text is straightforward and easy to read and comprehend, but it is also deceptively simple and could lull an MSF student into thinking this is the beginning and the end. Cuthbertson and Nitzsche's own bibliography defeats that assumption. I would also recommend this book as a primer and review for those PhD candidates finance who need a revision text for comprehensives.

The changes in this edition are a re-focus on practical issues, with particular attention to *valuation* (Benninga and Sarig's "Corporate Finance A Valuation Approach" is a good specialized text). There is expanded material on choice in discount rates, and an excellent and welcome expansion on international portfolio allocation with attention on strategic and tactical allocation. In addition, the fixed income, swaps, and portfolio manager analysis (mutual funds, hedge funds, and private equity) are expanded. Throughout the authors have an engaging style, striking a fine balance between understated amusement but at the same time treating the topics seriously. Their well-intentioned likeable personalities shine through, making the prose easy to read.

The paperback edition is a bit flimsy for use by a professor who will be reusing the text, but is adequate for students and day-to-day reference. The type is clear and the layout and graphics are well-chosen and appropriate, and there is adequate margin room for making your own annotations.
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Most Helpful Customer Reviews on (beta) 5.0 out of 5 stars  1 review
10 of 10 people found the following review helpful
5.0 out of 5 stars A hidden jewel of quantitative finance books 27 Aug 2002
By Weiqin Xie - Published on
This wonderful book and its companion book "Financial Engineering: Derivatives and Risk Management" have been on the markets more than one year, but still didn't draw sufficient attention from the readers in either academic or practical world. didn't add any of them on its bestseller list, and there's no single reader's review on
I have both books for a while and like them very much. I consider them as the hidden jewels of quantitative finance books. This book definitely beats the "Investments" by Bodie, Kane and Marcus, and its companion book does the same thing to John Hull's "Options, Futures, and Other Derivatives". If you can find any of them in the bookstore you patronize frequently, I bet you will take it/them to home the same day. Both are published by John Wiley, but priced as [inexpensively] as computer books on mass markets. In addition, the supporting Website has related Excel, GAUSS and PowerPoint files for downloading. The PowerPoint slides have professional quality. The only thing I don't like is the GAUSS program code on the books. I can't imagine anybody would take time to learn GAUSS just for those 2 books, and never understand why the authors didn't give VBA or pseudo code for majority's interest.
Both are written as textbooks, but contain lot of useful information on practical consideration, such as "The market maker Buys the Base currency at the Bid rate - which is the 'low'figure(usually the figure which comes first in the quote)".
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