Security Analysis and Investment Strategy

This innovative text presents the theoretical foundations of security analysis and investment strategy, and explores the practical applications of these theories. After establishing an historical foundation, the book examines fixed income securities, equity analysis and investment strategy.

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• Assesses a range of approaches to investment analysis and strategy
  
• Develops an advanced treatment of the subject throughout, while remaining focused on the practical concerns of security analysts
  
• Features end-of-chapter questions, case studies and references
  
• Integrates history, theory, technique, and application

This text is an indispensable resource for any serious student of finance.

Online material to accompany this book can be found at www.blackwellpublishing.com/poitras

Detailed Contents.

List of Figures.

List of Tables.

Notes for Instructors.

Preface.

Acknowledgments..

Part 1. Philosophy, History and Core Theory.

The Philosophy of Investment.

The History of Security Analysis.

Theoretical Developments in Modern Finance..

Part 2. Fixed Income Valuation.

Basics of Fixed Income Valuation.

Convexity, Time Value and Immunization.

Bonds with Embedded Options..

Part 3. Equity Valuation and Investment Strategy.

Fundamental Analysis and Value Investing.

Valuation Techniques for Equity Securities.

Technical Analysis Demystified.

Investment Strategy.

References.

Index.

“What sets Poitras’ book apart is not only the comprehensive and rigorous treatment of the subject of investments and security analysis but also the way in which he cradles it in its philosophy, history and core theory. I strongly recommend this text for those serious enough to seek an advanced study of the field.” Andrew Karolyi, OhioStateUniversity

“Poitras's new investments textbook is a tour de force. Unlike most investments texts it breaks new ground in putting 'modern' finance into perspective and linking what we as academics think we know with the views on the street. In this it develops those most elusive commodities: wisdom and judgment.” Lawrence Booth, Rotman School of Managment, University of Toronto

Geoffrey Poitras is Professor of Finance in the Faculty of Business Administration at Simon Fraser University, in Canada. He has worked as a Securities Analyst with the Bank of Canada in Ottawa, and has taught at various international institutions, including the National University of Singapore and Thammasat University in Thailand. Poitras is the author of The Early History of Financial Economics,1478‑1776 (2000); and Risk Management, Speculation, and Derivative Securities (2002) and has published numerous articles in the areas of finance, accounting, and economics. This innovative text presents the theoretical foundations of security analysis and investment strategy, and explores the practical applications of these theories. After establishing an historical foundation, the book examines fixed income securities, equity analysis, and investment strategy. Developing an advanced treatment of the subject throughout, the text remains focused on the practical concerns of security analysts.

Guided by the insight that philosophical differences exist among the various approaches to investment analysis and strategy, the text assesses a range of approaches to security analysis. Numerous case studies, end-of-chapter questions and references are featured in the text, making it accessible and engaging. Integrating history, theory, technique, and application, this text is an indispensable resource for any serious student of finance.

Online material to accompany this book can be found at www.blackwellpublishing.com/poitras