CFA Institute is the premier association for investment professionals around the world, with
over 130,000 members in 151 countries and territories. Since 1963 the organization has developed
and administered the renowned Chartered Financial Analyst® Program. With a rich
history of leading the investment profession, CFA Institute has set the highest standards in
ethics, education, and professional excellence within the global investment community and is
the foremost authority on investment profession conduct and practice. Each book in the CFA
Institute Investment Series is geared toward industry practitioners along with graduate-level
finance students and covers the most important topics in the industry. The authors of these
cutting-edge books are themselves industry professionals and academics and bring their wealth
of knowledge and expertise to this series.
Third Edition
Jerald E. Pinto, CFA
Elaine Henry, CFA
Thomas R. Robinson, CFA
John D. Stowe, CFA
with
Stephen E. Wilcox, CFA