Capital Markets: Institutions and Instruments

Rating:
Summary: A fascinating desk reference.
Review: Since I bought this book, I have it as my desk reference. For beginners in this area, is a great comprehensive tool to help understand capital markets. For the more skilled financial readers, is an obligated desk reference.

Fabozzi and Modigliani take you in complete tour through capital markets. In the early chapters you will find valuable information about financial systems and institutions, about how the primary and secondary markets work, among many other issues.

Then the book explains debt and equity markets, finishing in the later chapters with great explanations on derivatives markets.

Definitely, I made a great investment in buying this book.

Rating:
Summary: A fascinating desk reference.
Review: Since I bought this book, I have it as my desk reference. For beginners in this area, is a great comprehensive tool to help understand capital markets. For the more skilled financial readers, is an obligated desk reference.

Fabozzi and Modigliani take you in complete tour through capital markets. In the early chapters you will find valuable information about financial systems and institutions, about how the primary and secondary markets work, among many other issues.

Then the book explains debt and equity markets, finishing in the later chapters with great explanations on derivatives markets.

Definitely, I made a great investment in buying this book.

Rating:
Summary: Well written- Broad and comprehensive without being shallow
Review: There are many different versions of finance books that package a variety of subsets of what is known about financial instruments, how they are valued, the markets they trade in, and various relevant regulations. Of course textbooks tend to be written with specific courses in mind and select the material they present for a one or two term course on that topic.

This book has a somewhat unique combination because it covers rather comprehensively the institutions that make up our financial markets, what they do for a living, the instruments they trade, and how those instruments are structured, valued, and regulated. The book also provides an introduction to international markets.

Since Fabozzi and Modigliani cover such a broad ground they cannot provide the same depth as books that are more specialized in nature. However, this book is written very well. It is thoughtful in what it presents and clearly teaches the material it covers in a concise way without merely skimming over the topics. It is a terrific textbook and can make a good desk reference for any finance professional. I like it a lot and think it succeeds in its aims quite well.

Rating:
Summary: Solid work but somewhat dated
Review: This is a great introductory text. My only complaint would be that it's a little dated at this point. It needs to be updated in a third edition.

Rating:
Summary: The best book on this subject.
Review: We have been using this excellent book on our Capital Markets and Institutions course. It serves as a very solid foundation on which to build our more advanced courses on corporate finance.