on 25 February 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.
on 9 August 2008
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.