For undergraduate investment courses.

The core concepts and tools students need to make informed investment decisions

Fundamentals of Investing uses practical, hands-on applications and examples to introduce the topics and techniques used by both personal investors and money managers. The text focuses on both individual securities and portfolios, teaching students to consider the risk and return of different types of investments and how to use this knowledge to achieve financial goals. A consistent framework centered around learning objectives keeps readers focused in each chapter while a conversational tone makes the language, concepts, and strategies accessible to students. With new topics and features added to the 14th Edition, the text remains up-to-date and relevant, so students leave the course equipped to develop, implement, and monitor a successful investment program.

• 1. The Investment Environment
• 2. Securities Markets and Transactions
• 3. Investment Information and Securities Transactions
• 4. Return and Risk
• Appendix 4A. The Time Value of Money
• 5. Modern Portfolio Concepts
• 6. Common Stocks
• 7. Analyzing Common Stocks
• 8. Stock Valuation
• 9. Market Efficiency and Behavioral Finance
• 10. Fixed-Income Securities
• 11. Bond Valuation
• 12. Mutual Funds and Exchange-Traded Funds
• 13. Managing Your Own Portfolio
• 14. Options: Puts and Calls
• 15. Futures Markets and Securities
• 16. Investing in Preferred Stocks
• 17. Tax-Advantaged Investments
• 18. Real Estate and Other Tangible Investments