Financial Markets and Institutions (4th Edition)

Rating:
Summary: This book insults the intelligence of all but newcomers
Review: Although this might be a perfect book for those looking for simplicity, I would not advise it to anybody with previous exposure to finance.
The book is a way too simple, and reveals huge ignorance on the markets outside the US.
I think the book is very much a benchmark to reveal ignorant finance - teachers.

Rating:
Summary: Excellent reading
Review: I have never found such a made easy finance text like this before!

A lot of long and hard to understand topics in other textbooks are simplified in plain English.

It is excellent whenever you are puzzled with the topics like Efficient Market Theory and Interest Term Structures in other books and you need a clear understanding!

Rating:
Summary: Very good for first exposure to financial markets
Review: I've used some version of this book for many years now, and I've seen it evolve. I think, as other reviewers have said, that there are some simplified portions of the book, especially those parts dealing with monetary economics. There are other portions which lay out the principles as only these authors can, and those parts are extremely helpful and valuable. This book allows me to teach my notes and thoughts with a textbook serving as a reference and an introduction -- it doesn't get in my way, in other words. I use it along with several other texts, and I think it gets the job done. Students seem to like it as well, mainly for its clarity. For someone wanting to learn the basics, this is an excellent choice.

Rating:
Summary: Good start
Review: I've used some version of this book for many years now, and I've seen it evolve. I think, as other reviewers have said, that there are some simplified portions of the book, especially those parts dealing with monetary economics. There are other portions which lay out the principles as only these authors can, and those parts are extremely helpful and valuable. This book allows me to teach my notes and thoughts with a textbook serving as a reference and an introduction -- it doesn't get in my way, in other words. I use it along with several other texts, and I think it gets the job done. Students seem to like it as well, mainly for its clarity. For someone wanting to learn the basics, this is an excellent choice.

Rating:
Summary: Very good for first exposure to financial markets
Review: This book is not an advanced book on financial markets, but it is a good introductory book. I use this book for my undergraduate teaching. Both I and students are happy about the coverage of the book. It is well organized and well written. Improvements will be valuable in the derivatives markets and risk management areas.

Rating:
Summary: Too many errors of omission and commission for a second ed.
Review: Too many errors to be a useful text for a serious course in financial markets. Virtually ignores the market for mortgage backed securities. Ignores the interest on interest component of total return. Discussion of zeroes is muddled. Discussion of YTM is incomplete. Even the chapters on commercial banks and Fed policy contain the same old mistakes seen in most money and banking texts.