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This book stresses the economic intuition behind the subject matter. Topics include financial securities and financial markets, sections on the uses of Arbitrage Pricing Theory, the performance of international funds, bond management and multi-index models in portfolio evaluation. About The Author Edwin J. Elton is a Nomura Professor of Finance at the Leonard N. Stern School of Business at NYU. Professor Elton is a former president of the American Finance Association (1996) and is a fellow of the American Finance Association. He received the Graham Dodd award for research in investments and the James Vertin Lifetime Achievement Award from the Financial Analyst Federation, and was named Distinguished Scholar by the Eastern Finance Association. Table Of Contents Part 1: Introduction Chapter 1. Introduction Chapter 2. Financial Securities Chapter 3. Financial Markets Part 2: Portfolio Analysis Section 1. Mean Variance Portfolio Theory. Chapter 4. The Characteristics of the Opportunity Set Under Risk Chapter 5. Delineating Efficient Portfolios Chapter 6. Techniques for Calculating the Efficient Frontier Section 2. Simplifying the Portfolio Selection Process Chapter 7. The Correlation Structure of Security Returns: The Single-Index Model Chapter 8. The Correlation Structure of Security Returns: Multi-Index Models and Grouping Techniques Chapter 9. Simple Techniques for Determining the Efficient Frontier Section 3. Selecting the Optimum Portfolio Chapter 10. Estimating Expected Returns Chapter 11. How to Select Among the Portfolios in the Opportunity Set Section 4. Widening the Selection Universe Chapter 12. International Diversification Part 3: Models of Equilibrium in the Capital Markets Chapter 13. The Standard Capital Asset Pricing Model Chapter 14. Nonstandard Forms of Capital Asset Pricing Models Chapter 15. Empirical tests of Equilibrium Models Chapter 16. The Arbitrage Pricing Model APT-A New Approach to Explaining Asset Prices Part 4: Security Analysis and Portfolio Theory Chapter 17. Efficient Markets Chapter 18. The Valuation Process Chapter 19. Earnings Estimation Chapter 20. Behavioral Finance, Investor Decision Making, and Asset Pricing Chapter 21. Interest Rate Theory and the Pricing of Bonds Chapter 22. The Management of Bond Portfolios Chapter 23. Option Pricing Theory Chapter 24. The Valuation and Uses of Financial Futures Part 5: Evaluating the Investment Process Chapter 25. Evaluation of Portfolio Performance Chapter 26. Evaluation of Security Analysis Chapter 27. Portfolio Management Revisited Index