Richard Brealey presents a brief, nontechnical description of current research on investment management and its implications for the investment manager. He covers market efficiency, valuation, and modern portfolio theory in a book that The New York Times noted "rates high as reading for every professional investor."Brealey's easy-to-understand approach to modern investment theory will also prove invaluable to students.
This book is a sequel to An Introduction to Risk and Return from Common Stocks (The MIT Press, 1969), although it is fully self-contained and can be read independently. Both books describe in non-technical language the behavior of common stock prices as revealed by formal statistical work.