Investment Analysis and Portfolio Management, 12th Edition distinguishes itself through its clear, student‑friendly structure, strong global orientation, and practical focus. Across 18 concise chapters, it delivers rigorous coverage of investment instruments, capital markets, behavioral finance, hedge funds, derivatives, and international investment. Real‑world examples and hands‑on applications help students use professional‑grade investment tools. Updated discussions on technology, regulation, and ESG mandates ensure relevance, making this text a comprehensive and future‑ready guide to modern investment decision‑making.
• Strong ethics focus with clear discussions of professional codes, encouraging principled decision making in real financial markets
• Concise, streamlined presentation delivering comprehensive coverage without overload, enabling instructors to cover more ground
• Market-leading global perspective with the most extensive international investment coverage available
• Expanded coverage of emerging trends, including cryptocurrencies, ESG investing, and evolving market practices
• Balanced theory–practice approach, blending classic and cutting-edge portfolio management and valuation frameworks
• Hands on examples and exercises that show how professional investment decisions are made
• Updated and revised content on behavioral finance, market efficiency, LIBOR to SOFR transition, and ESG integration
• Improved accessibility through clearer, more reader-friendly explanations of complex concepts
1. The Investment Setting
2. Asset Allocation and Security Selection
3. Organization and Functioning of Securities Markets
4. Security Market Indexes and Index Funds
5. Efficient Capital Markets, Behavioral Finance, and Technical Analysis
6. Introduction to Portfolio Management
7. Asset Pricing Models
8. Equity Valuation
9. The Top-Down Approach to Market, Industry, and Company Analysis
10. The Practice of Fundamental Investing
11. Equity Portfolio Management Strategies
12. Bond Fundamentals and Valuation
13. Bond Analysis and Portfolio Management Strategies
14. An Introduction to Derivative Markets and Securities
15. Forward, Futures, and Swap Contracts
16. Option Contracts
17. Professional Portfolio Management, Alternative Assets, and Industry Ethics
18. Evaluation of Portfolio Performance
Frank K. Reilly
Frank K. Reilly, a Chartered Financial Analyst (CFA), is the Bernard J. Hank Professor of Finance, Mendoza College of Business, University of Notre Dame, where he served as dean from 1981-1987.
Keith C. Brown
Keith C. Brown, a Chartered Financial Analyst (CFA), is the Jack S. Josey Professor, 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.
Sanford J. Leeds
Sanford J. Leeds is a distinguished senior lecturer at the University of Texas' McCombs School of Business, where he has been a member of the faculty for 16 years.
