Fabozzi and Modigliani describe all phases of the capital market, including the instruments, institutions and valuation of instruments. The text offers the most comprehensive capital market coverage available in a perfect blend of principle and practice. The Second Edition expands upon the topics covered in the first and updates all material to reflect the latest financial trends and developments.
Frank J. Fabozzi is a Professor in the Practice of Finance and Becton Fellow in the Yale School of Management. He is well known as the author of numerous books on finance, both practitioner-focused and academic. Professor Frank J. Fabozzi will be joining Edhec Risk Institute on August 1, 2011. EDHEC-Risk Institute is part of EDHEC Business School, one of Europe’s leading business schools.
Fairly enough for a course book on financial instruments and capital market. But a bit boring in the demonstration of knowledge, and probably you would need Investopedia as a complementary source since some descriptions are neither detailed nor intuitive enough.
I read this book as part of the syllabus in the course “Capital Markets in Practice”. The book gives a good introduction to many aspects of capital markets. However, due to its focus on US capital markets, you need additional material if you want to know more about capital markets in other countries.