Investments: 2026 Release ISE

Zvi Bodie is Professor Emeritus at Boston University. He holds a PhD from the Massachusetts Institute of Technology and has served on the finance faculty at the Harvard Business School and MIT's Sloan School of Management. He has published widely in scholarly and professional journals on pension investment strategy and life-cycle asset-liability matching. In 2007 the Retirement Income Industry Association gave him its Lifetime Achievement Award for applied research. Alex Kune holds a PhD from the Stern School of Business of New York University and has been Visiting Professor at the Faculty of Economics, University of Tokyo; Graduate School of Business, Harvard; Kennedy School of Government, Harvard; and Research Associate, National Bureau of Economic Research. An author of many articles in finance and management journals. Professor Kane’s research is mainly in corporate finance, portfolio management. and capital markets. Alan Marcus is the Mario J. Gabelli Professor of Finance in the Carroll School of Management at Boston College. He received his PhD in economics from MIT. Professor Marcus has been a visiting professor at the Athens Laboratory of Business Administration and at MIT's Sloan School of Management and has served as a research associate at the National Bureau of Economic Research. Professor Marcus has published widely in the fields of capital markets and portfolio management. He also spent two years at the Federal Home Loan Mortgage Corporation (Freddie Mac), where he developed models of mortgage pricing and credit risk.He currently serves on the Research Foundation Advisory Board of the CFA Institute. Professor Racculia holds a PhD from Princeton University and is a professor of Finance at Saint Vincent College. He teaches a wide range of classes in Corporate Finance, Investments, and Alternative Assets. He has published in the field of private equity and will focus on the development of online content for the text. Prior to academia, Professor Racculia worked for the Princeton University Investment Company and is a CAIA charter holder.

• Part I: Introduction1. The Investment Environment2. Asset Classes and Financial Instruments3. How Securities Are Traded4. Mutual Funds and Other Investment CompaniesPart II: Portfolio Theory and Practice5. Risk, Return, and the Historical Record6. Capital Allocation to Risky Assets7. Efficient Diversification8. Index ModelsPart III: Equilibrium in Capital Markets9. The Capital Asset Pricing Model10. Arbitrage Pricing Theory and Multifactor Models of Risk and Return11. The Efficient Market Hypothesis12. Behavioral Finance and Technical Analysis13. Empirical Evidence on Security ReturnsPart IV: Fixed-Income Securities14. Bond Prices and Yields15. The Term Structure of Interest Rates16. Managing Bond PortfoliosPart V: Security Analysis17. Macroeconomic and Industry Analysis18. Equity Valuation Models19. Financial Statement AnalysisPart VI: Options, Futures, and Other Derivatives20. Options Markets: Introduction21. Option Valuation22. Futures Markets23. Futures, Swaps, and Risk ManagementPart VII: Applied Portfolio Management24. Portfolio Performance Evaluation25. International Diversification26. Alternative Assets27. The Theory of Active Portfolio Management28. Investment Policy and the Framework of the CFA InstituteReferences to CFA Problems