Investments

1056 Pages·2010·21.18 MB·english

by  Zvi Bodie

finance
Less managing. More teaching. Greater learning.
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STUDENTS GET:
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• Quick access to lectures, practice materials,
INSTRUCTORS GET:
eBook, and more. (All the material you need
to be successful is right at your fi ngertips.)
• Simple assignment management, allowing you to
• A Self-Quiz and Study tool that assesses spend more time teaching.
your knowledge and recommends specifi c
• Auto-graded assignments, quizzes, and tests.
readings, supplemental study materials,
and additional practice work.* • Detailed Visual Reporting where student and
section results can be viewed and analyzed.
*Available with select McGraw-Hill titles.
• Sophisticated online testing capability.
• A fi ltering and reporting function that
allows you to easily assign and report
on materials that are correlated to
accreditation standards, learning
outcomes, and Bloom’s taxonomy.
• An easy-to-use lecture capture tool.
• The option to upload course
documents for student access.
ISBN: 9780073530703 Front endsheets
Author: Bodie/Kane/Marcus Color: 4c
Title: Investments, 9e Pages: 2,3
finance
Less managing. More teaching. Greater learning.
STUDENTS... INSTRUCTORS...
Want to get better grades? (Who doesn’t?) Would you like your students to show up for class more prepared?
(Let’s face it, class is much more fun if everyone is engaged and prepared…)
Prefer to do your homework online? (After all, you are online anyway…)
Want an easy way to assign homework online and track student progress?
Need a better way to study before the big test?
(Less time grading means more time teaching…)
(A little peace of mind is a good thing…)
Want an instant view of student or class performance? (No more wondering if
students understand…)
Need to collect data and generate reports required for administration or
With McGraw-Hill's Connect™ Plus Finance,
accreditation? (Say goodbye to manually tracking student learning outcomes…)
STUDENTS GET:
Want to record and post your lectures for students to view online?
• Easy online access to homework, tests, and
quizzes assigned by your instructor.
• Immediate feedback on how you’re doing.
(No more wishing you could call your
instructor at 1 a.m.) With McGraw-Hill's Connect™ Plus Finance,
• Quick access to lectures, practice materials,
INSTRUCTORS GET:
eBook, and more. (All the material you need
to be successful is right at your fi ngertips.)
• Simple assignment management, allowing you to
• A Self-Quiz and Study tool that assesses spend more time teaching.
your knowledge and recommends specifi c
• Auto-graded assignments, quizzes, and tests.
readings, supplemental study materials,
and additional practice work.* • Detailed Visual Reporting where student and
section results can be viewed and analyzed.
*Available with select McGraw-Hill titles.
• Sophisticated online testing capability.
• A fi ltering and reporting function that
allows you to easily assign and report
on materials that are correlated to
accreditation standards, learning
outcomes, and Bloom’s taxonomy.
• An easy-to-use lecture capture tool.
• The option to upload course
documents for student access.
ISBN: 9780073530703 Front endsheets
Author: Bodie/Kane/Marcus Color: 4c
Title: Investments, 9e Pages: 2,3
Want an online, searchable version of your textbook?
Wish your textbook could be available online while you’re doing
your assignments?
Connect™ Plus Finance eBook
If you choose to use Connect™ Plus Finance, you have an
affordable and searchable online version of your book
integrated with your other online tools.
Connect™ Plus Finance eBook offers
features like:
• Topic search
• Direct links from assignments
• Adjustable text size
• Jump to page number
• Print by section
Want to get more value from your textbook purchase?
Think learning fi nance should be a bit more interesting?
Check out the STUDENT RESOURCES
section under the Connect™ Library tab.
Here you’ll fi nd a wealth of resources designed to help you
achieve your goals in the course. Every student has different
needs, so explore the STUDENT RESOURCES to fi nd the
materials best suited to you.
ISBN: 9780073530703 Front endsheets
Author: Bodie/Kane/Marcus Color: 4c
Title: Investments, 9e Page: 4, Insert
Want an online, searchable version of your textbook?
Wish your textbook could be available online while you’re doing
your assignments?
Connect™ Plus Finance eBook
If you choose to use Connect™ Plus Finance, you have an
affordable and searchable online version of your book
integrated with your other online tools.
Connect™ Plus Finance eBook offers
features like:
• Topic search
• Direct links from assignments
• Adjustable text size
• Jump to page number
• Print by section
Want to get more value from your textbook purchase?
Think learning fi nance should be a bit more interesting?
Check out the STUDENT RESOURCES
section under the Connect™ Library tab.
Here you’ll fi nd a wealth of resources designed to help you
achieve your goals in the course. Every student has different
needs, so explore the STUDENT RESOURCES to fi nd the
materials best suited to you.
ISBN: 9780073530703 Front endsheets
Author: Bodie/Kane/Marcus Color: 4c
Title: Investments, 9e Page: 4, Insert
Confirming Pages
Investments
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Investments
N I N T H E D I T I O N
ZVI BODIE
Boston University
ALEX KANE
University of California, San Diego
ALAN J. MARCUS
Boston College
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ISBN 978-0-07-353070-3
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Library of Congress Cataloging-in-Publication Data
Bodie, Zvi.
Investments / Zvi Bodie, Alex Kane, Alan J. Marcus.—9th ed.
p. cm.—(The McGraw-Hill/Irwin series in finance, insurance and real estate)
Includes index.
ISBN-13: 978-0-07-353070-3 (alk. paper)
ISBN-10: 0-07-353070-0 (alk. paper)
1. Investments. 2. Portfolio management. I. Kane, Alex. II. Marcus, Alan J. III. Title.
HG4521.B564 2011
332.6—dc22
2010018924
www.mhhe.com
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About the Authors
ZVI BODIE ALEX KANE ALAN J. MARCUS
Boston University University of California, Boston College
San Diego
Zvi Bodie is the Norman Alan Marcus is the Mario J.
and Adele Barron Professor Alex Kane is professor of Gabelli Professor of Finance
of Management at Boston finance and economics at in the Carroll School of
University. He holds a PhD the Graduate School of Management at Boston
from the Massachusetts International Relations College. He received his PhD
Institute of Technology and and Pacific Studies at the in economics from MIT.
has served on the finance fac- University of California, Professor Marcus has been
ulty at the Harvard Business San Diego. He has been visit- a visiting professor at the
School and MIT’s Sloan ing professor at the Faculty Athens Laboratory of
School of Management. of Economics, University of Business Administration and
Professor Bodie has published Tokyo; Graduate School of at MIT’s Sloan School of
widely on pension finance Business, Harvard; Kennedy Management and has served
and investment strategy in School of Government, as a research associate at the
leading professional jour- Harvard; and research asso- National Bureau of Economic
nals. In cooperation with the ciate, National Bureau of Research. Professor Marcus
Research Foundation of the Economic Research. An has published widely in the
CFA Institute, he has recently author of many articles in fields of capital markets and
produced a series of Webcasts finance and management portfolio management. His
and a monograph entitled T he journals, Professor Kane’s consulting work has ranged
Future of Life Cycle Saving research is mainly in corpo- from new-product develop-
and Investing. rate finance, portfolio man- ment to provision of expert
agement, and capital markets, testimony in utility rate
most recently in the measure- proceedings. He also spent
ment of market volatility and 2 years at the Federal Home
pricing of options. Loan Mortgage Corporation
(Freddie Mac), where he
developed models of mortgage
pricing and credit risk. He cur-
rently serves on the Research
Foundation Advisory Board
of the CFA Institute.
v
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