• SmartBook SmartBook is the first and only adaptive reading experience available for the higher education market. Powered by an intelligent diagnostic and adaptive engine, SmartBook facilitates the reading process by identifying what content a student knows and doesn't know through adaptive assessments. As the student reads, the reading material constantly adapts to ensure the student is focused on the content he or she needs the most to close any knowledge gaps.
  
  
• McGraw-Hill's Connect Finance. Connect Finance offers a number of powerful tools and features to make managing assignments easier, so you can spend more time teaching. Students can engage with their coursework anytime and anywhere, making the learning process more accessible and efficient. In short, Connect Finance facilitates student learning and optimizes your time and energies, enabling you to focus on course content, teaching, and student learning.
  
  
  • NEW! The LearnSmart adaptive self-study technology within Connect Finance provides students with a seamless combination of practice, assessment, and remediation for every concept in the textbook. LearnSmart's intelligent software adapts to every student response and automatically delivers concepts that advance students' understanding while reducing time devoted to the concepts already mastered. The result for every student is the fastest path to mastery of the chapter concepts.
    
    
  • Create and deliver online, auto-graded homework assignments, quizzes, and tests directly from the end-of-chapter materials or test bank. Problems are available as both static and algorithmic problems.
    
    
  • Prep Courses are available for Math, Statistics, Accounting, and Economics, and are comprised of animated tutorial modules with quiz questions.
    
    
  • Students receive immediate, detailed feedback on their assignments, allowing them to focus on the areas where they need improvement.
    
    
  • Pre-built assignments are available to save you set up time.
    
    
  • Questions mapped to AACSB skill areas, Bloom's Taxonomy levels, and difficulty level enable you to run reports that assess specific learning outcomes.
    
    
  • Tegrity Campus makes class time available 24/7 by automatically capturing every lecture in a searchable format for students to review when they study and complete assignments. With a simple one-click start-and-stop process, you capture all computer screens and corresponding audio. Students can replay any part of any class with easy-to-use browser-based viewing on a PC or Mac.
    
    
• Connect Plus Finance. This packaging option combines all the great features of Connect Finance, along with access to an online version of Investments, 10e, so that students can easily refer back to the text for review and guidance. This media rich e-book links directly to tutorials and online resources.
  
  
• Key content updates and additions include:
  
  • New sections that detail the rise of electronic markets, algorithmic and high-speed trading, and changes in market structure (Chapter 3)
    
    
  • New material on the practical feasibility of creating well-diversified portfolios and the implications for asset pricing (Chapter 10)
    
    
  • New material documenting the behavior of market anomalies over time, suggesting how market inefficiencies seem to be corrected (Chapter 11)
    
    
  • Increased attention to tests of multifactor models of risk and return and the implications of these tests for the importance of extra-market hedging demands (Chapter 13)
    
    
  • Substantial new sections on risk-neutral valuation methods and their implementation in the binomial option-pricing model, as well as the implications of the option pricing model for tail risk and financial instability (Chapter 21)
    
    

See book preface for more updates and additions.

Retained Features:

• Strong treatment of Excel. Selected chapters contain problems, denoted by an icon, specifically linked to Excel templates that are available on the book website at www.mhhe.com/bkm. In addition, Excel spreadsheets with Excel Application boxes and exhibits set in Excel give students tools to explore concepts more deeply. These spreadsheets are also available on the book's web site and provide a taste of the sophisticated analytic tools available to professional investors.
  
  
• To further link theory with practice, end-of-chapter problems contain practice questions for the CFA^® Exams provided by Kaplan Schweser, a global leader in CFA^® education. End-of-chapter problem sets also contain questions from past CFA exams (identified with an icon and separated into their own section). The Appendix at the back of the book lists each CFA question in the text and the exam from which it was taken. Also, Chapter 3 includes excerpts from the "Code of Ethics and Standards of Professional Conduct" of the CFA Institute. Chapter 28, which discusses investors and the investment process, is modeled after the CFA Institutes framework.
  
  
• The authors continue to present material in a framework that is organized by a central core of consistent fundamental principles. As such, they have stripped away unnecessary mathematical and technical detail to concentrate on providing the intuition to guide students and practitioners in their professional lives.
  
  
• Considerable attention is paid to Modern Portfolio Theory, which focuses on the techniques and implications of efficient diversification for the proper measurement of risk and the risk-return relationship.
  
  
• The text provides complete coverage of futures, options and other derivative security markets, acknowledging the importance of these markets to finance professionals and individual investors.
  
  
• Every chapter includes pedagogical features to help students understand, absorb and apply the concepts and techniques presented. These features include a chapter opening vignette, numbered examples, key terms presented in boldface type with a listing at the end of each chapter and a glossary, and a chapter summary. Concept Checks are included in the body of the text, to help students reinforce and check their understanding of key concepts (solutions to concept checks are found at the end of each chapter).