賴(lài)?yán)⒉祭示帉?xiě)的《投資分析與組合管理(第9版高等學(xué)校金融學(xué)類(lèi)英文版教材)》作為注冊(cè)金融分析師(cFA)資格考試指定用書(shū)，是集當(dāng)代投資理論和分析技術(shù)之大成的投資學(xué)的**教材。本書(shū)包括6個(gè)部分，共20章，循序漸進(jìn)地介紹投資分析和組合管理的基本內(nèi)容。其中第1部分和第2部分分別介紹了投資分析的背景和相關(guān)理論。從第3部分開(kāi)始，從理論過(guò)渡到實(shí)踐，具體介紹投資分析中的估值方法和實(shí)踐。第 3部分介紹資產(chǎn)估值的基本方法，第4、5部分則是分別對(duì)股票和債券進(jìn)行分析。第6部分介紹了投資策略的比較和評(píng)價(jià)。本書(shū)理論闡述新穎，案例分析翔實(shí)。
特別適合作為高等學(xué)校投資學(xué)、金融學(xué)、金融工程專(zhuān)業(yè)雙語(yǔ)教學(xué)的高年級(jí)本科生教材和研究生教材，也可以作為實(shí)際工作者的參考書(shū)。
PART 1 THE INVESTMENT BACKGROUND
Chapter 1 The Investment Setting
1.1 What Is an Investment?
1.2 Measures of Return and Risk
1.3 Determinants of Required Rates of Return
1.4 Relationship between Risk and Return
Chapter 2 The Asset Allocation Decision
2.1 Individual Investor Life Cycle
2.2 The Portfolio Management Process
2.3 The Need For a Policy Statement
2.4 Input to the Policy Statement
2.5 The Importance of Asset Allocation
Chapter 3 Selecting Investments in a Global Market
3.1 The Case for Global Investments
3.2 Global Investment Choices
3.3 Historical Risk-Returns on Alternative Investments
Chapter 4 Organization and Functioning of Securities Markets
4.1 What Is a Market?
4.2 Primary Capital Markets
4.3 Secondary Financial Markets
4.4 Detailed Analysis of Exchange Markets
PART 2 DEVELOPMENTS IN INVESTMENT THEORY
Chapter 5 Efficient Capital Markets
5.1 Why Should Capital Markets Be Efficient?
5.2 Alternative Efficient Market Hypotheses
5.3 Tests and Results of Efficient Market Hypotheses
5.4 Behavioral Finance
5.5 Implications of Efficient Capital Markets
Chapter 6 An Introduction to Portfolio Management
6.1 Some Background Assumptions
6.2 Markowitz Portfolio Theory
Chapter 7 An Introduction to Asset Pricing Models
7.1 Capital Market Theory: An Overview
7.2 The Capital Asset Pricing Model
7.3 Relaxing the Assumptions
7.4 Additional Empirical Tests of the CAPM
7.5 The Market Portfolio: Theory Versus Practice
Chapter 8 Multifactor Models of Risk and Return
8.1 Arbitrage Pricing Theory
8.2 Multifactor Models and Risk Estimationee
PART 3 VALUATION PRINCIPLES AND PRACTICES
Chapter 9 Analysis of Financial Statements
9.1 Major Financial Statements
9.2 Analysis of Financial Ratios
9.3 Computation of Financial Ratios
9.4 Evaluating Internal Liquidity
9.5 Evaluating Operating Performance
9.6 Risk Analysis
9.7 Analysis of Growth Potential
9.8 Comparative Analysis of Ratios
9.9 The Value of Financial Statement Analysis
9.1o Specific Uses of Financial Ratios
Chapter lo An Introduction to Security Valuation
10.1 An Overview of the Valuation Process
lO.2 Why a Three-Step Valuation Process?
lO.3 Theory of Valuation
lO.4 Valuation of Alternative Investments
lO.5 Relative Valuation Techniques
lO.6 Estimating the Inputs: The Required Rate of Return and the Expected Growth Rate of Valuation Variablesee
PART 4 ANALYSIS AND MANAGEMENT OF COMMON STOCKS
Chapter 11 Macroanalysis and Microvaluation of the Stock Market
11.1 The Components of Market Analysis
11.2 Macromarket Analysis
11.3 Microvaluation Analysis
11.4 Valuation Using the Earnings Multiplier Approach
11.5 Estimating Expected Earnings per Share
11.6 Estimating the Stock Market Earnings Multiplier
11.7 Microvaluation of World Markets
Chapter 12 Industry Analysis
12.1 Why Do Industry Analysis?
12.2 The Business Cycle and Industry Sectors
12.3 Structural Economic Changes and Alternative Industries
12.4 Evaluating the Industry Life Cycle
12.5 Analysis of Industry Competition
12.6 Estimating Industry Rates of Return
12.7 Industry Analysis Using the Relative Valuation Approach
12.8 Other Relative Valuation Ratios
12.9 Global Industry Analysis
Chapter 13 Company Analysis and Stock Valuation
13.1 Company Analysis versus Stock Valuation
13.2 Economic, Industry, and Structural Links to Company Analysis
13.3 Company Analysis
13.4 Estimating Intrinsic Value
13.5 Analysis of Growth Companies
13.6 Measures of Value Added
13.7 Influences on Analysis
13.8 Global Company and Stock Analysis
Chapter 14 Technical Analysis
14.1 Underlying Assumptions of Technical Analysis
14.2 Advantages of Technical Analysis
14.3 Challenges to Technical Analysis
14.4 Technical Trading Rules and Indicators
Chapter 15 Equity Portfolio Management Strategies
15.1 Passive versus Active Management
15.2 An Overview of Passive Equity Portfolio Management Strategies
15.3 An Overview of Active Equity Portfolio Management Strategies
15.4 Value versus Growth Investing: A Closer Look
15.5 An Overview of Style Analysis
15.6 Asset Allocation Strategies
PART 5 ANALYSIS AND MANAGEMENT OF BONDS
Chapter 16 Bond Fundamentals
16.1 Basic Features of a Bond
16.2 The Global Bond Market Structure
16.3 Alternative Bond Issues
16.4 Obtaining Information on Bond Prices
Chapter 17 The Analysis and Valuation of Bonds
17.1 The Fundamentals of Bond Valuation
17.2 Computing Bond Yields
17.3 Calculating Future Bond Prices
17.4 Bond Valuation Using Spot Rates
17.5 What Determines Interest Rates?
17.6 Calculating Forward Rates from the Spot Rate Curve
17.7 Term-Structure Theories
17.8 What Determines the Price Volatility for Bonds?
17.9 Yield Spreads with Embedded Options
Chapter 18 Bond Portfolio Management Strategies
18.1 Bond Portfolio Performance, Style, and Strategy
18.2 Passive Management Strategies
18.3 Active Management Strategies
18.4 Core-Plus Management Strategies
18.5 Matched-Funding Management Strategies
18.6 Contingent and Structured Management Strategies
PART 6 SPECIFICATION AND EVALUATION OF ASSET MANAGEMENT
Chapter 19 Professional Money Management, Alternative Assets, and Industry Ethics
19.1 The Asset Management Industry: Structure and Evolution
19.2 Private Management and Advisory Firms
19.3 Organization and Management of Investment Companies
19.4 Investing in Alternative Asset Classes
19.5 Ethics and Regulation in the Professional Asset Management Industry
19.6 What Do You Want from a Professional Asset Manager?
Chapter 20 Evaluation of Portfolio Performance
20.1 What Is Required of a Portfolio Manager?
20.2 Composite Portfolio Performance Measures
20.3 Application of Portfolio Performance Measures
20.4 Portfolio Performance Evaluation: Some Extensions
20.5 Factors That Affect Use of Performance Measures
20.6 Evaluation of Bond Portfolio Performance
20.7 Reporting Investment Performance
Glossary
FREQUENTLY USED SYMBOLS
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