Securities Valuation

Securities Valuation is a textbook about securities valuation and portfolio theory, appropriate for a one semester course about finance and investments. The book explains how to value securities, starting with the time value of money concept, stocks and bonds. It discusses how the stock market works, how stocks are valued, the human factor in investments, and the trade-off between risk and return in the financial market. It also explains how derivatives such as options, futures and swaps are valued, as well as how mutual funds work. A myriad of real life examples are provided in each chapter. And there are several problems at the end of each chapter to test your knowledge of the chapter material. Please note: an UPDATED, revised version of this book is now available as "$100 Bills on the Sidewalk: The Art and Science of Investing" (2014) by Gary Smith.