{"product_id":"the-forbes-cfa-institute-investment-course-isbn-9780470919651","title":"The Forbes \/ CFA Institute Investment Course","description":"\u003cb\u003eThe most up-to-date and all encompassing guide to investing in today's markets\u003c\/b\u003e  \u003cp\u003eFrom Forbes and the CFA Institute-two of the most highly respected and recognized names in the investment industry-\u003ci\u003eThe Forbes\/CFA Institute Investment Course\u003c\/i\u003e is an interactive roadmap to investing in today's challenging stock markets. From building capital and asset allocation and diversification to choosing a broker and reading a financial statement, \u003ci\u003eThe Forbes\/CFA Institute Investment Course\u003c\/i\u003e has offered investors step-by-step guidance since 1948. The course\u003cbr\u003e \u003c\/p\u003e \u003cul\u003e \u003cli\u003eIncludes advice for novices, but also accommodates those who are more familiar with markets\u003c\/li\u003e \u003cli\u003eProvides important information on fundamental analysis versus technical analysis\u003c\/li\u003e \u003cli\u003eDetails different asset classes: fixed income securities, derivatives, mutual funds, and equities\u003c\/li\u003e \u003c\/ul\u003e \u003cp\u003eWith Q\u0026amp;A, links to videos, expert advice, interviews with top money managers, and much more, \u003ci\u003eThe Forbes\/CFAInstitute Investment Course\u003c\/i\u003e is the perfect resource for anyone looking to learn about investing in today's markets.\u003c\/p\u003e \u003cp\u003ePreface xiii\u003c\/p\u003e \u003cp\u003eAcknowledgments xvii\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 1 Building Capital 1\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eRole of the Stock Market in Building Wealth 2\u003c\/p\u003e \u003cp\u003eDetermining Your Financial Position 3\u003c\/p\u003e \u003cp\u003eYour Financial Inventory Guide 4\u003c\/p\u003e \u003cp\u003eInvestment Margin 11\u003c\/p\u003e \u003cp\u003eDefining Your Goals 12\u003c\/p\u003e \u003cp\u003eReturn Requirements 13\u003c\/p\u003e \u003cp\u003eRisk Profile 14\u003c\/p\u003e \u003cp\u003eLife Cycle and the Risk\/Return mix 15\u003c\/p\u003e \u003cp\u003eOther Considerations 16\u003c\/p\u003e \u003cp\u003eAsset Classes 17\u003c\/p\u003e \u003cp\u003eAsset Allocation 20\u003c\/p\u003e \u003cp\u003eActive versus Passive Investing 22\u003c\/p\u003e \u003cp\u003eDiversification 23\u003c\/p\u003e \u003cp\u003eDollar Cost Averaging 24\u003c\/p\u003e \u003cp\u003eChapter Takeaways 31\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 2 How Securities Markets Function 33\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eRole of Securities Markets 33\u003c\/p\u003e \u003cp\u003eThe Securities Exchanges 36\u003c\/p\u003e \u003cp\u003eOver-the-Counter Markets 37\u003c\/p\u003e \u003cp\u003eNASDAQ 38\u003c\/p\u003e \u003cp\u003eElectronic Communication Networks 39\u003c\/p\u003e \u003cp\u003eStock Quotes 39\u003c\/p\u003e \u003cp\u003eThe Third Market 40\u003c\/p\u003e \u003cp\u003eOther Markets 40\u003c\/p\u003e \u003cp\u003eHow the New York Stock Exchange Operates 41\u003c\/p\u003e \u003cp\u003eHow the NASDAQ Operates 43\u003c\/p\u003e \u003cp\u003eFrom SOES to SuperMontage 44\u003c\/p\u003e \u003cp\u003eOTC Bulletin Board and Pink Sheets 45\u003c\/p\u003e \u003cp\u003eHow the ECNs Operate 45\u003c\/p\u003e \u003cp\u003eCrossing Systems 46\u003c\/p\u003e \u003cp\u003eElectronic versus Floor Trading 46\u003c\/p\u003e \u003cp\u003ePreferencing 48\u003c\/p\u003e \u003cp\u003eInternalization 49\u003c\/p\u003e \u003cp\u003eChapter Takeaways 49\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 3 Selecting a Broker and Trading 51\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eStructure of a Brokerage Firm 52\u003c\/p\u003e \u003cp\u003eActivities of a Brokerage Firm 53\u003c\/p\u003e \u003cp\u003eServices Offered by All Brokers 54\u003c\/p\u003e \u003cp\u003eFull-Service versus Discount Brokers 55\u003c\/p\u003e \u003cp\u003eOnline Brokers 58\u003c\/p\u003e \u003cp\u003eChoosing a Brokerage Firm 58\u003c\/p\u003e \u003cp\u003eCommissions 60\u003c\/p\u003e \u003cp\u003eDirect Purchase of Securities 62\u003c\/p\u003e \u003cp\u003ePlacing Orders 63\u003c\/p\u003e \u003cp\u003eOdd-Lot Trading 66\u003c\/p\u003e \u003cp\u003eMargin 67\u003c\/p\u003e \u003cp\u003eTransaction Example 68\u003c\/p\u003e \u003cp\u003eSettlement 69\u003c\/p\u003e \u003cp\u003eStock Symbols and the Ticker Tape 70\u003c\/p\u003e \u003cp\u003eQuestions to Ask Your Broker 71\u003c\/p\u003e \u003cp\u003eChapter Takeaways 73\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 4 Tax-Favored Investment Strategies 75\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eCapital Gains and Dividends 75\u003c\/p\u003e \u003cp\u003eTraditional IRAs 77\u003c\/p\u003e \u003cp\u003eRoth IRAs 79\u003c\/p\u003e \u003cp\u003e401(k) Plans 80\u003c\/p\u003e \u003cp\u003eEducation Savings Accounts and 529 Plans 82\u003c\/p\u003e \u003cp\u003eOther Pension Plans 83\u003c\/p\u003e \u003cp\u003eMutual Funds and Taxes 85\u003c\/p\u003e \u003cp\u003eUsing Tax-Advantaged Accounts 86\u003c\/p\u003e \u003cp\u003eChapter Takeaways 87\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 5 Reading Financial Statements 89\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eIncome Statements 91\u003c\/p\u003e \u003cp\u003eBalance Sheet 95\u003c\/p\u003e \u003cp\u003eStatement of Cash Flows 99\u003c\/p\u003e \u003cp\u003eMaking Sense of the Numbers 102\u003c\/p\u003e \u003cp\u003eProfitability Ratios 102\u003c\/p\u003e \u003cp\u003eAsset Utilization Ratios 105\u003c\/p\u003e \u003cp\u003eLeverage Ratios 108\u003c\/p\u003e \u003cp\u003eRevisiting ROE 110\u003c\/p\u003e \u003cp\u003eLiquidity Ratios 110\u003c\/p\u003e \u003cp\u003eMarket Multiples 112\u003c\/p\u003e \u003cp\u003eLook Beyond the Numbers 114\u003c\/p\u003e \u003cp\u003eRead the Footnotes 115\u003c\/p\u003e \u003cp\u003eCan You Trust Financial Statements? 115\u003c\/p\u003e \u003cp\u003eChapter Takeaways 119\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 6 Sources for Investment Information 121\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eWhere to Obtain Information 123\u003c\/p\u003e \u003cp\u003eSecurities and Exchange Commission 124\u003c\/p\u003e \u003cp\u003eEarnings Releases and Regulation Fair Disclosure 125\u003c\/p\u003e \u003cp\u003eInvestment Brokers and Dealers 127\u003c\/p\u003e \u003cp\u003eCan You Trust Brokerage House Reports? 128\u003c\/p\u003e \u003cp\u003eInvestment Newsletters and Other Publications 129\u003c\/p\u003e \u003cp\u003eCorporate Reports 130\u003c\/p\u003e \u003cp\u003eReading the Annual Report 130\u003c\/p\u003e \u003cp\u003eGovernment Reports 131\u003c\/p\u003e \u003cp\u003eChapter Takeaways 131\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 7 Common Stocks and Economic Indicators 133\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eAnother Look at the Balance Sheet 133\u003c\/p\u003e \u003cp\u003eWhy Common Shares Have Value 136\u003c\/p\u003e \u003cp\u003eMacroeconomic Factors 136\u003c\/p\u003e \u003cp\u003eIndustry-Specific Factors 140\u003c\/p\u003e \u003cp\u003eOther Barometers 141\u003c\/p\u003e \u003cp\u003eEvaluating Data 141\u003c\/p\u003e \u003cp\u003eChapter Takeaways 143\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 8 Fundamental Analysis 145\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eInvesting versus Trading 145\u003c\/p\u003e \u003cp\u003ePassive Investing 146\u003c\/p\u003e \u003cp\u003eActive Investing 147\u003c\/p\u003e \u003cp\u003eBusiness Focus 153\u003c\/p\u003e \u003cp\u003eIndustry Outlook 154\u003c\/p\u003e \u003cp\u003eCompany Status 155\u003c\/p\u003e \u003cp\u003eMajor Trends 157\u003c\/p\u003e \u003cp\u003eEarnings History and Outlook 158\u003c\/p\u003e \u003cp\u003eDividends 159\u003c\/p\u003e \u003cp\u003ePrice-Earnings and Price-Book Ratios Revisited 161\u003c\/p\u003e \u003cp\u003eDiscounted Cash Flow 163\u003c\/p\u003e \u003cp\u003eEvaluating Management 164\u003c\/p\u003e \u003cp\u003eSome Final Thoughts on Fundamental Analysis 165\u003c\/p\u003e \u003cp\u003eChapter Takeaways 165\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 9 Technical Analysis 167\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eThe Value of Charts 169\u003c\/p\u003e \u003cp\u003eReading Charts 171\u003c\/p\u003e \u003cp\u003eDow Theory 171\u003c\/p\u003e \u003cp\u003eHead and Shoulders 175\u003c\/p\u003e \u003cp\u003eSupport and Resistance Levels 176\u003c\/p\u003e \u003cp\u003eTrading Ranges 177\u003c\/p\u003e \u003cp\u003eBreakaway Gaps 178\u003c\/p\u003e \u003cp\u003eImportance of Volume 179\u003c\/p\u003e \u003cp\u003eOther Technical Indicators 182\u003c\/p\u003e \u003cp\u003eTime to Grow Bullish 184\u003c\/p\u003e \u003cp\u003eChapter Takeaways 187\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 10 Fixed-Income Securities 189\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eBonds 189\u003c\/p\u003e \u003cp\u003eUnderstanding Bonds 190\u003c\/p\u003e \u003cp\u003eUnderstanding Bond Prices 191\u003c\/p\u003e \u003cp\u003eBond Prices and Interest Rates 192\u003c\/p\u003e \u003cp\u003eCall Feature 194\u003c\/p\u003e \u003cp\u003eCredit Quality of Bonds 194\u003c\/p\u003e \u003cp\u003eOther Issues Concerning Bonds 196\u003c\/p\u003e \u003cp\u003eHow to Buy Bonds 199\u003c\/p\u003e \u003cp\u003eMoney Market Securities 200\u003c\/p\u003e \u003cp\u003ePreferred Stock 201\u003c\/p\u003e \u003cp\u003eUnderstanding Preferred Stock 202\u003c\/p\u003e \u003cp\u003eTax Treatment 203\u003c\/p\u003e \u003cp\u003eTrust Preferred Securities 204\u003c\/p\u003e \u003cp\u003eFinal Thoughts on Bonds and Preferred Stocks 204\u003c\/p\u003e \u003cp\u003eChapter Takeaways 205\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 11 Derivatives 207\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eDefining Derivative Instruments 207\u003c\/p\u003e \u003cp\u003eFutures 209\u003c\/p\u003e \u003cp\u003eSpot Asset 209\u003c\/p\u003e \u003cp\u003eThe Futures Market 210\u003c\/p\u003e \u003cp\u003eDelivery 211\u003c\/p\u003e \u003cp\u003eHedging 212\u003c\/p\u003e \u003cp\u003eStock Index Futures 212\u003c\/p\u003e \u003cp\u003eSingle-Stock Futures 214\u003c\/p\u003e \u003cp\u003eOptions 215\u003c\/p\u003e \u003cp\u003eDefinition of Options 216\u003c\/p\u003e \u003cp\u003eOptions Markets 216\u003c\/p\u003e \u003cp\u003eImportant Terms to Know 216\u003c\/p\u003e \u003cp\u003eListed Options 217\u003c\/p\u003e \u003cp\u003eWhat an Option Is Worth 219\u003c\/p\u003e \u003cp\u003eCommissions 221\u003c\/p\u003e \u003cp\u003eTo Sell or to Exercise 222\u003c\/p\u003e \u003cp\u003eSome Popular Option Strategies 222\u003c\/p\u003e \u003cp\u003eA Warning about Naked Option Writing 225\u003c\/p\u003e \u003cp\u003eChapter Takeaways 226\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 12 Mutual Funds 229\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eAn Investment Company 229\u003c\/p\u003e \u003cp\u003eClosed-End or Open-End 230\u003c\/p\u003e \u003cp\u003eA Short History of the Mutual Fund Industry 232\u003c\/p\u003e \u003cp\u003eCategories of Mutual Funds 232\u003c\/p\u003e \u003cp\u003eAdvantages of Mutual Funds 237\u003c\/p\u003e \u003cp\u003eDisadvantages of Mutual Funds 238\u003c\/p\u003e \u003cp\u003eMutual Fund Expenses 239\u003c\/p\u003e \u003cp\u003eHow to Choose a Fund 242\u003c\/p\u003e \u003cp\u003eSome Final Thoughts about Mutual Funds 243\u003c\/p\u003e \u003cp\u003eHedge Funds 243\u003c\/p\u003e \u003cp\u003eChapter Takeaways 247\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 13 Rules of Thumb and Key Phrases 249\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eFinal Comments 254\u003c\/p\u003e \u003cp\u003eSuggested Readings 255\u003c\/p\u003e \u003cp\u003eAbout the Authors 257\u003c\/p\u003e \u003cp\u003eIndex 259\u003c\/p\u003e   \u003cp\u003e\u003cb\u003eVAHAN JANJIGIAN\u003c\/b\u003e is Chief Investment Officer at Greenwich Wealth Management, LLC, a SEC registered investment advisor. He is a \u003ci\u003eForbes\u003c\/i\u003e magazine columnist and Editor of the \u003ci\u003eForbes Special Situation Survey\u003c\/i\u003e, widely regarded as one of the best performing investment newsletters. He previously served on the faculties of several leading universities. He is a frequent guest on popular television and radio business programs and is the author of \u003ci\u003eEven Buffett Isn't Perfect\u003c\/i\u003e. \u003c\/p\u003e\u003cp\u003e\u003cb\u003eSTEPHEN M. HORAN\u003c\/b\u003e is the head of professional educational content for CFA Institute and specializes in private wealth management. Prior to joining CFA Institute, he was a professor of finance at St. Bonaventure University, principal of Alesco Advisors LLC, and a financial analyst and forensic economist in private practice. He is editor of \u003ci\u003ePrivate Wealth: Wealth Management in Practice\u003c\/i\u003e and the author of numerous articles in leading peer-reviewed journals. Dr. Horan is a frequent columnist in the \u003ci\u003eFinancial Times\u003c\/i\u003e. \u003c\/p\u003e\u003cp\u003e\u003cb\u003eCHARLES TRZCINKA\u003c\/b\u003e is the James W. \u0026amp; Virginia E. Cozad Chair in Finance at the Kelley School of Business, Indiana University, Bloomington. Previous positions have included the faculties of SUNY Buffalo and New York University; director of the U.S. Commerce Department's MBA program in the People's Republic of China; and senior economist with the United States Securities and Exchange Commission.    \u003c\/p\u003e\u003cp\u003eSTOCKS ARE NOT just for the wealthy, and they never were. Investing in stocks has helped some investors with even modest sums of money amass sizable portfolios. Stock investments carry risks, however, especially for the uninformed. Regardless of your net worth, achieving success in financial markets requires, at the very least, a basic understanding of the ins and outs of investing, such as how to buy and sell stocks, the external factors that influence markets, and the inherent risks of investing. From two of the most highly respected names in the investment industry, \u003ci\u003eThe Forbes\u003c\/i\u003e\u003csup\u003e®\u003c\/sup\u003e\/\u003ci\u003eCFA Institute Investment Course: Timeless Principles for Building Wealth\u003c\/i\u003e provides you with the basics and more! The course: \u003cb\u003e \u003cul\u003e \t\u003cli\u003eExplains how stocks have historically outperformed cash and bonds\u003c\/li\u003e \t\u003cli\u003eExamines the various investment asset classes, as well as offers expert insight on asset allocation\u003c\/li\u003e \t\u003cli\u003eDescribes the pros and cons of active versus passive investing\u003c\/li\u003e \t\u003cli\u003eReveals how to determine your current financial position\u003c\/li\u003e \t\u003cli\u003eDetails how to ascertain your unique risk profile and investment horizon and how to use both to help define your investment goals\u003c\/li\u003e \t\u003cli\u003eSummarizes Wall Street maxims, and reveals why you should take each with a grain of salt\u003c\/li\u003e \t\u003cli\u003eProvides essential information on selecting a broker, as well as must-ask questions, tax-favored investment strategies, how to read financial statements, sources for investment information, economic indicators, and both fundamental and technical analysis\u003c\/li\u003e \u003c\/ul\u003e \t\u003c\/b\u003e \u003c\/p\u003e\u003cp\u003eAnd the book is just the beginning. At \u003ci\u003eThe Forbes\u003csup\u003e®\u003c\/sup\u003e\/CFA Institute Investment Course\u003c\/i\u003e website, you will find exclusive access to a wealth of knowledge, including quizzes, interviews with top money managers, webcasts, and articles, such as how inflation affects investing, the difference between goals and dreams, and common investment mistakes. \u003c\/p\u003e\u003cp\u003eFinancial markets are complex. You already know that. But, it is what you don't know—and doing nothing—that can hurt you financially. \u003ci\u003eThe Forbes\u003c\/i\u003e\u003csup\u003e®\u003c\/sup\u003e\/\u003ci\u003eCFA Institute Investment Course\u003c\/i\u003e increases your odds for building and sustaining wealth over the long term by providing you with the basics for developing and then adhering to a disciplined investment plan.\u003c\/p\u003e","brand":"Wiley","offers":[{"title":"Default Title","offer_id":47990230843621,"sku":"NP9780470919651","price":42.0,"currency_code":"USD","in_stock":false}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/1842\/7735\/files\/9780470919651.jpg?v=1761787000","url":"https:\/\/k12savings.com\/es\/products\/the-forbes-cfa-institute-investment-course-isbn-9780470919651","provider":"K12savings","version":"1.0","type":"link"}