Investment Analysis & Portfolio Management, 1st Edition | AU/NZ

Brindha Gunasingham, Asjeet Lamba, Dr Frank Elston, Frank K. Reilly, Keith C. Brown

Copyright 2020
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Investment Analysis & Portfolio Management 1st Edition by Brindha Gunasingham/Asjeet Lamba/Dr Frank Elston/Frank K. Reilly/Keith C. Brown

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Overview
Meet the Authors
Features
Table of Contents
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Overview

This first Asia-Pacific edition of Reilly/Brown’s Investment Analysis and Portfolio Management builds on the authors’ strong reputations for combining solid theory with practical application and has been developed especially for courses across the Australia, New Zealand, and Asia-Pacific regions. The real-world illustrations and hands-on activities enhance an already rigourous, empirical approach to topics such as investment instruments, capital markets, behavioural finance, hedge funds, and international investment. The text also emphasises how investment practice and theory are influenced by globalisation.The Asia Pacific edition of Investment Analysis and Portfolio Management builds on the US title’s strong reputation for combining solid theory with practical application and has been developed especially for courses across the ANZ and Asia Pacific region. The real-world illustrations and hands-on activities enhance an already rigorous, empirical approach to topics such as investment instruments, capital markets, behavioural finance, hedge funds, and international investment. The text also emphasises how investment practice and theory are influenced by globalisation, and includes a new, unique emphasis on career portfolios in investments. These career portfolios will help students realistically understand how they can develop a career in investments.

Meet the Authors

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Brindha Gunasingham

Brindha Gunasingham is the founder and Principal of FitzBiz Investment Analysis & Strategy, providing strategic and investment consulting services to financial services clients in Australia, Asia, the US and the UK. She has held senior positions in the corporate finance and funds management industries and is the former Dean (Undergraduate) and Professor of Economics at S P Jain School of Global Management in Sydney, Singapore and Dubai. Through her consulting business, research and teaching, Brindha focuses on corporate finance, alternative assets and risk management. She publishes articles in various finance industry journals and has been awarded numerous scholarships and prizes, including a teaching excellence award at the University of New South Wales. She holds MA and Honours degrees in Economics from the University of Cambridge; a MSc. degree in Asia Pacific Economics from the University of London and a PhD degree in Banking and Finance from the University of New South Wales and the University of Sydney. Brindha is a Chartered Financial Analyst (CFA) charter holder, and a Graduate Member of the Australian Institute of Company Directors. She is a Past President of the CFA Society of Sydney and previously served as a Director of both the Society and the Northside Community Forum.

Asjeet Lamba

Asjeet Lamba received his MBA in Finance from the University of Michigan and his Ph.D. in Finance from the University of Washington. His teaching interests are in the areas of corporate finance, international finance, investments and financial markets. The focus of Asjeet’s current research is on share buybacks, insider trading, corporate litigation, and corporate governance. His research has been published in several leading international journals and he regularly presents his research at domestic and international conferences. Asjeet is also a CFA charterholder.

Dr Frank Elston

Frank Elston received his JD (Juris Doctor) from Emory University and his Ph.D. in Economics from the University of Virginia. He was previously Associate Professor of Finance at the Metropolitan State College of Denver, Colorado, Associate Professor of Business at Concordia College, Moorhead Minnesota, and Assistant Professor of Finance at Eastern New Mexico University, Portales. He is a CFA member and his teaching areas of interest are Financial Markets and Institutions, Financial Economics, Portfolio Management; International Finance, Strategic Investments. He does substantial work in distance education and PhD supervision. As a practitioner, he has worked as Legal Counsel and Portfolio Manager for different investments companies.

Frank K. Reilly

Frank K. Reilly, Chartered Financial Analyst (CFA), was the Bernard J. Hank Professor of Finance, Mendoza College of Business, University of Notre Dame, where he served as dean from 1981–1987. Prior to 1981, Dr. Reilly was a professor at the University of Illinois at Urbana-Champaign, University of Wyoming and University of Kansas. Recently, he was part of the inaugural group selected as a fellow of the Financial Management Association International. At the 2001 AIMR annual meeting in Los Angeles, he received the Daniel J. Forrestal III Leadership Award for Professional Ethics and Standards of Investment Practice. Among his other honors, Professor Reilly was included in the list of Outstanding Educators in America, received the Alumni Excellence in Graduate Teaching Award and the Outstanding Educator Award from the M.B.A. class at the University of Illinois, the Outstanding Teachers Award from the M.B.A. class at the University of Notre Dame and the Faculty Award from the University of Notre Dame. He received his B.B.A. at the University of Notre Dame, his M.B.A. at Northwestern University and his Ph.D. at the University of Chicago.

Keith C. Brown

Keith C. Brown, Chartered Financial Analyst (CFA), is the University Distinguished Teaching Professor and Fayez Sarofim Fellow at the McCombs School of Business at the University of Texas at Austin, where he teaches Investments, Portfolio Management and Security Analysis, Capital Markets and Derivatives courses at the BBA and MBA levels. He served as president and CEO of The MBA Investment Fund, LLC, a private capital appreciation fund managed by UT graduate students as well as the former director of the department's Hicks, Muse, Tate and Furst Center for Private Equity Finance. Professor Brown is co-founder and senior partner of Fulcrum Financial Group, a portfolio management and investment advisory firm located in Austin, Texas. He serves as an advisor to the boards of the Teacher Retirement System of Texas and the University of Texas/Texas A&M Investment Management Company as well as a member of the Investment Committee for Atlas Capital Global, a subsidiary of Citibanamex’ pension fund. He is an associate editor for the Journal of Investment Management and the Journal of Behavioral Finance. He received his B.A. from San Diego State University and his M.S. and Ph.D. from Purdue University.

Features

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Almost every chapter discusses how investment theory or practice is influenced by the globalisation of investments and capital markets, ensuring students are prepared to function in a global environment
Reilly/Brown is a rigourous and empirical text without being overly quantitative, ensuring proper discussion of modern developments investments and portfolio theory as well as the ability to judge alternative investment theories
Presents an in-depth discussion of investments and portfolio management, addressing both undergraduate and post-graduate courses looking for this approach
Global technology and regulations have changed more significantly since the 2000s than in the 40 years prior to that - get students up to speed with the dedicated content on this. Chapter 4 contains a detailed discussion of this evolution and the results for global markets
Concept checks at the end of major sections of the text ensure students stop, question and confirm their understanding before moving on.
Questions and problems at the end of each chapter give students the chance to practise computations for the more sophisticated investment problems covered in each chapter

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PART I: THE INVESTMENT BACKGROUND
1. The investment setting
2. The asset allocation decision
3. Selecting investments in a global market
4. Organisation and functioning of securities markets
5. Security-market indexes

PART II: DEVELOPMENTS IN INVESTMENT THEORY
6. Efficient capital markets
7. An introduction to portfolio management
8. An introduction to asset pricing models
9. Multifactor models of risk and return

PART III: VALUATION PRINCIPLES AND PRACTICES
10. Analysis of financial statements
11. An introduction to security valuation

PART IV: ANALYSIS AND MANAGEMENT OF ORDINARY SHARES
12. Macroanalysis and microvaluation of the share market
13. Industry analysis
14. Company analysis and share valuation
15. Technical analysis
16. Equity portfolio management strategies

PART V: ANALYSIS AND MANAGEMENT OF BONDS
17. Bond fundamentals
18. The analysis and valuation of bonds
19. Bond portfolio management strategies

PART VI: DERIVATIVE SECURITY ANALYSIS
20. An introduction to derivative markets and securities
21. Forward and futures contracts
22. Option contracts
23. Swap contracts, convertible securities, and other embedded derivatives

PART VII: SPECIFICATION AND EVALUATION OF ASSET MANAGEMENT
24. Professional money management, alternative assets, and industry ethics
25. Evaluation of portfolio performance