Product Description

PRACTICAL INVESTMENT MANAGEMENT is intended for learners studying investments for the first time. Very practical and applied, it is comprehensive enough for those who plan to become Certified Financial Analysts, but remains user-friendly due to its clarity of explanation and its pedagogy. The book contains all standard topics found in the typical modern investments text, but in addition, several chapters of Practical Investment Management are unique. In addition to being an increasingly important asset class, mortgage-backed securities provide some thought-provoking questions on fixed income valuation. Bob Strong has an engaging writing style along with practical experience making this a very solid, yet very friendly, book for readers.

Product Details

• Amazon Sales Rank: #181723 in Books
• Published on: 2006-03-09
• Original language: English
• Number of items: 1
• Binding: Hardcover
• 640 pages

Review
I commend Strong on his practical appraoch and the real market focus of the text.

I like the use of pedagogical features in this book, including the graphs, tables, margin notes, and end-of-chapter questions and problems....The CFA material adds to the value of the book.

The engaging and fluid prose of the text is its strongest features. My students commented positively on the clarity of the text.

About the Author
Bob Strong is University Foundation Professor of Investment Education and Professor of Finance at the University of Maine. He holds a Bachelor of Science degree in engineering from the United States Military Academy at West Point, a Master of Science degree in business administration from Boston University, and a PhD in finance from Penn State University. He has also been a visiting professor of finance at Maine Maritime Academy and at Harvard University, where he was Deputy Director of the Summer Economics Program from 1997–1999. He is a Chartered Financial Analyst. Dr. Strong has consulted on risk management and asset valuation for organizations such as Eastern Maine Healthcare, Bangor Hydro Electric Company, Maine Public Service Company, Energy Atlantic, the Maine State Police, the Maine Forest Service, Irving Oil, James W. Sewall Company, and Texas Instruments. He has been a conference speaker for the Chicago Board Options Exchange, the Chicago Board of Trade, and the American Stock Exchange. His current research interests center on investor asset allocation. In addition to four successful textbooks, he has published in journals ranging from the JOURNAL OF FINANCE and THE JOURNAL OF PORTFOLIO MANAGEMENT to the trade journals PENSIONS & INVESTMENTS and FUTURES.

Customer Reviews

Practical Investment Management
This book appears to be one of the more practical and straightforward texts on investments that I have encountered. It introduces the reader to why people invest, how security markets function, what typical investment choices are available, and how they are valued.

The book is the right size (about 530 pages) to be covered in a one semester course on the fundamentals of investing. It provides a foundation for analyzing various securities, including bonds, stocks, convertible securities, and derivatives. In addition, the book provides an exposure to risk reduction techniques, such as portfolio diversification and hedging, that is important for investors in protecting their gains or reducing their potential losses.

However, the book is not without its flaws. The chapter on fundamental analysis (chapter 7) could be expanded to include a discussion of financial statements (i.e., the balance sheet and the income statement) and an addition of ratios related to debt management (i.e., debt-to-assets, debt-to-equity, times-interest-earned, etc.). These ratios would provide the investor more information regarding the risks that are inherent with the use of debt. In addition, the topic on duration in chapter 17 does not include a discussion on the purpose for obtaining the duration of a fixed income security, namely how the price of the security is affected by a change in market interest rates.

Despite these shortcomings, the book will make a fine required text for an introductory course on investment management at the undergrduate level.

PIM
Good book, very expertly layed out. Aome explainations a bit long winded but has great examples.

Great introduction to investments text
This book is easy to read and interesting. The author makes investment principles incredibly easy to understand. I recommend it to anyone who wants to learn to basics of investments.