Series: The Mcgraw-Hill/Irwin Series in Finance, Insurance, and Real Estate
Hardcover: 784 pages
Publisher: McGraw-Hill Education; 10 edition (January 6, 2016)
Language: English
ISBN-10: 0077835425
ISBN-13: 978-0077835422
Product Dimensions: 1.2 x 8.5 x 10.8 inches
Shipping Weight: 3.7 pounds (View shipping rates and policies)
Average Customer Review: 3.5 out of 5 stars See all reviews (111 customer reviews)
Best Sellers Rank: #15,428 in Books (See Top 100 in Books) #7 in Books > Textbooks > Business & Finance > Investments & Securities #131 in Books > Business & Money > Investing
I'm in college and this book was required reading in my investments course. I read it nearly cover-to-cover (skipping just 2 chapters) and can say that this is a solid introduction to investments. The amount of information this book covers is quite broad, and the authors usually do a good job of balancing the difficulties of giving too little vs. too much information. Occasionally, I did feel some areas warranted more discussion, such as those discussing mutual funds and ETFs. But overwhelmingly the authors give readers enough usable information that further research is then much easier.Part two on Portfolio Theory is particularly good. Specifically, chapter 6 does a really good job of illustrating how 'efficient diversification' results in the best results. The first time I read their discussion of the efficient frontier I was struck by how well the explanations illustrated the concept. Numerous graphs hammer points home, and even the sidebars (which, in many textbooks, can be filler) provide interesting asides to the topics under discussion.I also appreciate their Excel examples injected within the text. It is very nice to be able to see exactly what I can do to get the same results they get; in other books, it can be harder to convert the theory discussed in the book into actual practical information. I consider myself someone who is quite proficient at using spreadsheet software, but a few of their examples utilized tools that I wasn't familiar with.The authors are generally critical of active investing, citing numerous studies that again and again show the benefits of passive investment strategies and the failure of active funds to consistently deliver above-average results.
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