Written by a widely respected author team, this investments text takes an empirical approach to explaining current, real-world practice. Providing the most comprehensive coverage available, the text emphasises investment alternatives and teaches students how to analyse these choices and manage their portfolio. Like previous editions, the sixth edition includes excellent coverage of portfolio theory, capital market theory, security analysis, and international investments. Features new to this edition include expanded coverage of ethics and international issues, updated coverage of valuation to include the latest theories in valuation and asset allocation, and new material on equity portfolio strategies. Web sites are included in each chapter and Internet problems have been added to the text and ancillaries.