Fundamentals of investments : valuation and management

"Traditionally, investments textbooks tend to fall into one of two camps. The first type has a greater focus on portfolio management and covers a significant amount of portfolio theory. The second type is more concerned with security analysis and generally contains fairly detailed coverage of fundamental analysis as a tool for equity valuation. Today, most texts try to cover all the bases by including some chapters drawn from one camp and some from another. The result of trying to cover everything is either a very long book or one that forces the instructor to bounce back and forth between chapters. This frequently leads to a noticeable lack of consistency in treatment. Differ-ent chapters have completely different approaches: Some are computational, some are theoretical, and some are descriptive. Some do macroeconomic forecasting, some do mean-variance portfolio theory and beta estimation, and some do financial statements analysis. Options and futures are often essentially tacked on the back to round out this disconnected assortment."