Since the first edition of this book was published, significant developments have modified the general view of the efficient market hypothesis. This fully revised second edition provides a major contribution to the study of these developments.The authors provide a concise summary of modern portfolio theory covering such issues as:* The mean-variance approach to portfolio management.* The capital asset pricing model.* The efficient market hypothesis and option pricing theories.* Risk measurement services.Combining theory and practice, this is an ideal introductory text for undergraduate and postgraduate students, as well as a useful reference for investment managers.