Gain a full understanding of today's most important investment topics from the perspective of an individual financial planner with Mayo's INVESTMENTS: AN INTRODUCTION, 13E. This inviting approach introduces the process of investing and the many alternatives available for constructing a strong investment portfolio. You master the investing fundamentals needed for success on the CFP® exam while developing more advanced investing skills. You learn to manage your assets as an active portfolio manager or simply as an informed investor. This edition highlights how to make solid investment decisions with an overview of today’s most pertinent investment opportunities and challenges. Updates highlight the latest changes in taxation and investment planning prompted by the 2018 Tax Cuts and Jobs Act (TCJA). An ongoing Financial Advisor’s Investment Case and expanded coverage of stock valuation ratios, stock repurchases, and dividend payments emphasize how to apply what you’ve learned to daily decisions.
Part I: THE INVESTMENT PROCESS AND FINANCIAL CONCEPTS.
1. An Introduction to Investments.
2. Securities Markets.
3. The Time Value of Money.
4. Financial Planning, Taxation and the Efficiency of Financial Markets.
5. Risk and Portfolio Management.
Part II: INVESTMENT COMPANIES.
6. Investment Companies: Mutual Funds.
7. Closed-End Investment Companies, Real Estate Investment Trusts (REITs), and Exchange-Traded Funds (ETFs).
Part III: INVESTING IN COMMON STOCK.
8. Stock.
9. The Valuation of Common Stock.
10. Investment Returns and Aggregate Measures of Stock Markets.
11. The Macroeconomic Environment for Investment Decisions.
12. Behavioral Finance and Technical Analysis.
Part IV: INVESTING IN FIXED-INCOME SECURITIES.
13. The Bond Market.
14. The Valuation of Fixed-Income Securities.
15. Government Securities.
16. Convertible Bonds and Convertible Preferred Stock.
Part V: DERIVATIVES.
17. An Introduction to Options.
18. Option Valuation and Strategies.
19. Commodity and Financial Futures.
Part VI: AN OVERVIEW.
20. Financial Planning and Investing in an Efficient Market Context.
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Herbert B. Mayo
Dr. Herbert Mayo teaches finance at The College of New Jersey, where he previously served as former Director of Accreditation. A well-respected author and experienced educator, Dr. Mayo has written several successful books focusing on critical finance issues and today's investment opportunities. Dr. Mayo earned his Ph.D. from Rutgers University and his undergraduate degree from the University of North Carolina at Chapel Hill.
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UPDATES REFLECT THE LATEST CHANGES IN TAXATION AND INVESTMENT PLANNING. The author has carefully updated content throughout this edition to address the most recent changes and developments stemming from the 2018 Tax Cuts and Jobs Act (TCJA).
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UPDATED AND REVISED CONTEMPORARY EXAMPLES FEATURE MANY OF TODAY'S POPULAR INVESTMENT OPTIONS. Memorable examples drawn from actual investment opportunities highlight common investments, such as United Health Group, Apple, and Intel.
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UPDATED, UNIQUE PERSPECTIVE EXAMINES THE 2008 FINANCIAL CRISIS. The author offers an insightful analysis of the 2008 financial crisis from a "ten-year-out" perspective that challenges students to reflect and evaluate.
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NEW COVERAGE HIGHLIGHTS TODAY'S VOLATILITY AS A RESULT OF THE 2008 FINANCIAL CRISIS. This edition focuses on the increased concerns and emphasis on volatility since the 2008 financial crisis. Students study the changes in spreads, increased use of volatility indices, and other common tools and concerns that were prompted by the last financial crisis.
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EXPANDED END-OF-CHAPTER MATERIAL RESPONDS TO STUDENT FEEDBACK. This edition's now offers a larger number of "Relationships" and "Fundamental Worked Problems" at the end of each chapter, based on student requests. "Relationships" features ask students to think critically to determine the relationship between two things, such as how an increase in interest rates affects the price and face value of a bond.
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END-OF-CHAPTER "FUNDAMENTAL WORKED PROBLEMS" GUIDE STUDENTS IN COMPLETING WORK STEP-BY-STEP. This helpful feature clearly illustrates basic problems covered in the chapter. Students can work the problems with immediate access to the detailed steps necessary to solve the problem as well as the solutions.
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STUDENTS FOCUS ON THE CFP® TOPICS MOST IMPORTANT FOR TODAY’S EXAM. Widely recognized for its proven focus and clear presentation of CFP® testing topics, this edition continues to emphasize concepts students need for success when they take today’s CFP® exam.
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FINANCIAL ADVISOR’S INVESTMENT CASE PREPARES STUDENTS FOR REAL INVESTMENT DECISIONS. Brief, engaging cases at the end of each chapter create a dynamic, continuing Financial Advisor’s Case that integrates each chapter’s materials. Students clearly see how concepts from each chapter apply to investment decisions from a financial planner’s perspective. Cases follow today’s proven format for effective learning.
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EXPANDED COVERAGE OF STOCK VALUATION RATIOS THOROUGHLY INTRODUCES THIS KEY TOPIC. This edition helps you provide students with a strong understanding of adjusted PEG, return on equity from price to book, and profit margin from price to sales. The author has expanded the introduction to stock valuation ratios to help students better understand this key investment topic.
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