I made the mistake of choosing this book as this text for an undergraduate finance course because it is used by the New York Society of Financial Analysts in their portfolio management class. Don't make the same mistake!! Part One is very informative and gives the reader practical information and advice. The rest of the book is terrible. The equity section concentrates on Modern Portfolio Theory--the Efficient Fronter, co-variation, efficient markets, blah, blah, blah. While Value Investing is mentioned (barely), it is almost an afterthought and it's certainly frowned upon. I wonder how poor investors like Warren Buffet and Seth Klarman have made any money at all using the Value Investing approach. I found the section on bonds and fixed income portfolio management interesting but difficult to follow. I traded corporate and municipal bonds for 20 years. If I had not had such a background, I would have been totally confused. If you are a quantitative GENIUS, this book MAY help you. If you are not, you can choose another book and learn much more.

This is a poorly written finance text. It is not organized and unclear in some sections. I have a degree in Finance, and I would never recommend this book to anyone.