Professor Frank K. Reilly received his BBA (Cum Laude) at the University of Notre Dame; MBA at Northwestern University; and Ph.D. at the University of Chicago, and is a Chartered Financial Analyst (CFA). Dr. Reilly is the Bernard J. Hank Professor of Finance, Mendoza College of Business, University of Notre Dame, and from 1981-1987, he was Dean of that College. Prior to 1981, Professor Reilly was a professor at the University of Illinois at Urbana-Champaign, the University of Wyoming, and the University of Kansas. He was included in the list of Outstanding Educators in America, received the Alumni Excellence in Graduate Teaching Award and the Outstanding Educator Award from the MBA class at the University of Illinois and the Outstanding Teachers Award from the MBA class at the University of Notre Dame, and the Faculty Award from the University of Notre Dame. Recently he was part of the inaugural group selected as a Fellow of the Financial Management Association International. At the 2001 AIMR annual meeting in Los Angeles, he received the Daniel J. Forrestal III Leadership Award for Professional Ethics and Standards of Investment Practice.

Keith Brown currently holds the position of Fayez Sarofim Fellow and Professor of Finance at the McCombs School of Business at the University of Texas at Austin., where he specializes in teaching Investments, Portfolio Management and Security Analysis, Capital Markets, and Derivatives courses at the MBA and Ph.D. levels. He has also served as President and Chief Executive Officer of The MBA Investment Fund, L.L.C., a private capital appreciation fund managed by graduate students at the University of Texas.

Keith C. Brown is the co-founder and Senior Partner of Fulcrum Financial Group, a portfolio management and investment advisory firm located in Austin, Texas and Atlanta, Georgia. Keith currently is an advisor to the Board of Trustees of Teacher Retirement System of Texas and an Associate Editor for Journal of Investment Management, Journal of Behavioral Finance, and Journal of Restructuring Finance. For five years he held the position of Research Director for the Research Foundation of the Association for Investment Management and Research.

From Publisher

The purpose of this book is to help you learn how to manage your money to derive the maximum benefit from what you earn. Mixing investment instruments and capital markets with the theoretical detail on evaluating investments and opportunities to satisfy risk-return objectives along with how investment practice and theory is influenced by globalization leaves readers with the mindset on investments to serve them well. The material is intended to be rigorous and empirical yet not overly quantitative. We continue with unparalleled international coverage, newly rewritten and reorganized derivatives material to be more intuitive and clearer, three additional chapters on derivatives pricing for those who want more detail, rewritten material on multifactor models of risk and return, and new CFA problems for more practice on computations concerning investment decisions. To manage money and investments, one needs to learn about investment alternatives and develop a way of analyzing and thinking about investments that will be of benefit and allow a foundation as new tools and investment opportunities become available. Reilly/Brown provide the best foundation, used extensively by professionals, organizations, and schools across the country. A great source for those with both a theoretical and practical need for investment expertise.