Nelson Higher Education

Higher Education

Investments: An Introduction, 12th Edition

  • includes Stock-Trak Coupon
  • Herbert B. Mayo
  • ISBN-10: 1305638417
  • ISBN-13: 9781305638419
  • 816 Pages | Hardcover
  • Previous Editions: 2014, 2011, 2008
  • COPYRIGHT: 2017 Published
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About the Product

Mayo’s INVESTMENTS: AN INTRODUCTION, 12th Edition, introduces students to today’s most important investment topics from the perspective of an individual financial planner. Students are introduced to the process of investing and the many alternatives available for the construction of a portfolio and through this, students learn about managing their assets (being active portfolio managers) or to decide to let others manage their portfolios (i.e., being passive investors). This edition provides an inviting, comprehensive approach to investments--from the fundamentals students need to master the investing section on the CFP® exam to more advanced topics.


  • STUDENTS FOCUS ON THE CFP® TOPICS MOST IMPORTANT FOR TODAY’S EXAM. Widely recognized for its proven focus and clear presentation of CFP® testing topics, this edition continues to emphasize concepts students need for success when they take today’s CFP® exam.

  • FINANCIAL ADVISOR’S INVESTMENT CASE PREPARES STUDENTS FOR REAL INVESTMENT DECISIONS. Brief, engaging cases at the end of each chapter create a dynamic, continuing Financial Advisor’s Case that integrates each chapter’s materials. Students clearly see how concepts from each chapter apply to investment decisions from a financial planner’s perspective. Cases follow today’s proven format for effective learning.

  • EXPANDED COVERAGE OF STOCK VALUATION RATIOS THOROUGHLY INTRODUCES THIS KEY TOPIC. Give students a strong understanding of adjusted PEG, return on equity from price to book, and profit margin from price to sales with this edition’s complete expanded introduction to stock valuation ratios--one of today’s key investment topics.

About the Author

Herbert B. Mayo

Dr. Herbert Mayo teaches finance at The College of New Jersey, where he previously served as former Director of Accreditation. A well-respected author and experienced educator, Dr. Mayo has written several successful books focusing on critical finance issues and today's investment opportunities. Dr. Mayo earned his Ph.D. from Rutgers University and his undergraduate degree from the University of North Carolina at Chapel Hill.

Table of Contents

1. An Introduction to Investments.
2. Securities Markets.
3. The Time Value of Money.
4. Financial Planning, Taxation and the Efficiency of Financial Markets.
5. Risk and Portfolio Management.
6. Investment Companies: Mutual Funds.
7. Closed-End Investment Companies, Real Estate Investment Trusts (REITs), and Exchange-Traded Funds (ETFs).
8. Stock.
9. The Valuation of Common Stock.
10. Investment Returns and Aggregate Measures of Stock Markets.
11. The Macroeconomic Environment for Investment Decisions.
12. Behavioral Finance and Technical Analysis.
13. The Bond Market.
14. The Valuation of Fixed-Income Securities.
15. Government Securities.
16. Convertible Bonds and Convertible Preferred Stock.
17. An Introduction to Options.
18. Option Valuation and Strategies.
19. Commodity and Financial Futures.
20. Financial Planning and Investing in an Efficient Market Context.

New to this edition

  • Based upon student feedback, the number of “Relationships” and “Fundamental Worked Problems” features in the end-of-chapter material have been expanded. The “Relationships” feature asks students to determine the relationship between two things. For example, an increase in interest rates and how it affects the price and face value of the bond.
  • The “Fundamental Worked Problems” feature provides illustrations of basic problems covered in the chapter. Students can work the problems and have immediate access to the solutions and the steps necessary to solve the problem.
  • Includes new sections on the importance of assumptions to financial analysis, a new section that differentiates “trading” from “investing”, new material on sovereign risk and expanded coverage of exchanged traded funds (ETFs).
  • The statement of cash flows has been simplified for better student understanding. The subject of IPO price volatility has been expanded and significantly updated.
  • Key points from the footnotes have been integrated into the text to avoid being skipped over.


All supplements have been updated in coordination with the Main title.
Please see Main title page for new to this edition information.

Instructor Supplements

Cengage Testing, powered by Cognero® Instant Access  (ISBN-10: 1305638476 | ISBN-13: 9781305638471)

Cengage Learning Testing Powered by Cognero® is a flexible, online system that allows you to: import, edit, and manipulate content from the text’s test bank or elsewhere, including your own favorite test questions; create multiple test versions in an instant; and deliver tests from your LMS, your classroom, or wherever you want.