"Investments, Twelfth Edition, is intended primarily as a textbook for courses in investment analysis. Our guiding principle has been to present the material in a framework that is organized by a central core of consistent funda-mental principles. We attempt to strip away unnecessary mathematical and technical detail, and we have concen-trated on providing the intuition that may guide students and practitioners as they confront new ideas and chal-lenges in their professional lives"--