Readings CFA Level I

“Code of Ethics and Standards of Professional Conduct”
Standards of Practice Handbook, 9th edition (CFA Institute, 2005)

“Guidance” for Standards I – VII
Standards of Practice Handbook, 9th edition (CFA Institute, 2005)

Introduction to the Global Investment Performance Standards

Global Investment Performance Standards
(CFA Institute, 2005)

"The Time Value of Money"
Ch. 1, Quantitative Investment Analysis, 2nd edition, Richard A. DeFusco, Dennis W. McLeavey, Jerald E. Pinto, David E. Runkle, and Mark J.P. Anson (Wiley, 2007)

"Discounted Cash Flow Applications"
Ch. 2, Quantitative Investment Analysis, 2nd edition, Richard A. DeFusco, Dennis W. McLeavey, Jerald E. Pinto, David E. Runkle, and Mark J.P. Anson (Wiley, 2007)

"Statistical Concepts and Market Returns"
Ch. 3, Quantitative Investment Analysis, 2nd edition, Richard A. DeFusco, Dennis W. McLeavey, Jerald E. Pinto, David E. Runkle, and Mark J.P. Anson (Wiley, 2007)

"Probability Concepts"
Ch. 4, Quantitative Investment Analysis, 2nd edition, Richard A. DeFusco, Dennis W. McLeavey, Jerald E. Pinto, David E. Runkle, and Mark J.P. Anson (Wiley, 2007)

“Common Probability Distributions”
Ch. 5, Quantitative Investment Analysis, 2nd edition, Richard A. DeFusco, Dennis W. McLeavey, Jerald E. Pinto, David E. Runkle, and Mark J.P. Anson (Wiley, 2007)

“Sampling and Estimation”
Ch. 6, Quantitative Investment Analysis, 2nd edition, Richard A. DeFusco, Dennis W. McLeavey, Jerald E. Pinto, David E. Runkle, and Mark J.P. Anson (Wiley, 2007)

"Hypothesis Testing"
Ch. 7, Quantitative Investment Analysis, 2nd edition, Richard A. DeFusco, Dennis W. McLeavey, Jerald E. Pinto, David E. Runkle, and Mark J.P. Anson (Wiley, 2007)

“Technical Analysis”
Ch. 15, Investment Analysis and Portfolio Management, 8th edition, Frank K. Reilly and Keith C. Brown (South-Western, 2006)

“Elasticity”
Ch. 4, Economics, 7th edition, Michael Parkin (Pearson Addison-Wesley, South-Western, 2005)

“Efficiency and Equity”
Ch. 5, Economics, 7th edition, Michael Parkin (Pearson Addison-Wesley, South-Western, 2005)

“Markets in Action”
Ch. 6, Economics, 7th edition, Michael Parkin (Pearson Addison-Wesley, South-Western, 2005)

“Organizing Production”
Ch. 9, Economics, 7th edition, Michael Parkin (Pearson Addison-Wesley, South-Western, 2005)

“Output and Costs”
Ch. 10, Economics, 7th edition, Michael Parkin (Pearson Addison-Wesley, South-Western, 2005)

“Perfect Competition”
Ch. 11, Economics, 7th edition, Michael Parkin (Pearson Addison-Wesley, South-Western, 2005)

“Monopoly”
Ch. 12, Economics, 7th edition, Michael Parkin (Pearson Addison-Wesley, South-Western, 2005)

“Monopolistic Competition and Oligopoly”
Ch. 13, Economics, 7th edition, Michael Parkin (Pearson Addison-Wesley, South-Western, 2005)

“Demand and Supply in Factor Markets”
Ch. 17, Economics, 7th edition, Michael Parkin (Pearson Addison-Wesley, South-Western, 2005)

“Monitoring Cycles, Jobs, and the Price Level”
Ch. 22, Economics, 7th edition, Michael Parkin (Pearson Addison-Wesley, South-Western, 2005)

“Aggregate Supply and Aggregate Demand”
Ch. 23, Economics, 7th edition, Michael Parkin (Pearson Addison-Wesley, South-Western, 2005)

“Money, Banks, and the Federal Reserve”
Ch. 26, Economics, 7th edition, Michael Parkin (Pearson Addison-Wesley, South-Western, 2005)

“Money, Interest, Real GDP, and the Price Level”
Ch. 27, Economics, 7th edition, Michael Parkin (Pearson Addison-Wesley, South-Western, 2005)

“Inflation”
Ch. 28, Economics, 7th edition, Michael Parkin (Pearson Addison-Wesley, South-Western, 2005)

“Fiscal Policy”
Ch. 31, pp. 740 – 758, Economics, 7th edition, Michael Parkin (Pearson Addison-Wesley, South-Western, 2005)

“Monetary Policy”
Ch. 32, Economics, 7th edition, Michael Parkin (Pearson Addison-Wesley, South-Western, 2005)

"Financial Statement Analysis: An Introduction"
Thomas R. Robinson, Hennie van Greuning, Elaine Henry, and Michael A. Broihahn (CFA Institute, 2007)

"Financial Reporting Mechanics"
Thomas R. Robinson, Hennie van Greuning, Karen O'Connor Rubsam, Elaine Henry, and Michael A. Broihahn (CFA Institute, 2007)

"Financial Reporting Standards"
Thomas R. Robinson, Hennie van Greuning, Karen O'Connor Rubsam, Elaine Henry, and Michael A. Broihahn (CFA Institute, 2007)

"Understanding the Income Statement"
Thomas R. Robinson, Hennie van Greuning, Elaine Henry, and Michael A. Broihahn (CFA Institute, 2007)

"Understanding the Balance Sheet"
Thomas R. Robinson, Hennie van Greuning, Elaine Henry, and Michael A. Broihahn (CFA Institute, 2007)

"Understanding the Cash Flow Statement"
Thomas R. Robinson, Hennie van Greuning, Elaine Henry, and Michael A. Broihahn (CFA Institute, 2007)

“Analysis of Inventories”
Ch. 6, pp. 192-215 and pp. 219-220, The Analysis and Use of Financial Statements, 3rd edition, Gerald I. White, Ashwinpaul C. Sondhi, and Dov Fried (Wiley, 2003)

“Analysis of Long-Lived Assets: Part I – The Capitalization Decision”
Ch. 7, pp. 227-240, including Box 7-1, and pp. 242-244, The Analysis and Use of Financial Statements, 3rd edition, Gerald I. White, Ashwinpaul C. Sondhi, and Dov Fried (Wiley, 2003)

“Analysis of Long-Lived Assets: Part II – Analysis of Depreciation and Impairment”
Ch. 8, pp. 257-278 and pp. 280-282, The Analysis and Use of Financial Statements, 3rd edition, Gerald I. White, Ashwinpaul C. Sondhi, and Dov Fried (Wiley, 2003)

“Analysis of Income Taxes”
Ch. 9, pp. 290-314, including Boxes 9-1 and 9-2, The Analysis and Use of Financial Statements, 3rd edition, Gerald I. White, Ashwinpaul C. Sondhi, and Dov Fried (Wiley, 2003)

“Analysis of Financing Liabilities”
Ch. 10, pp. 322-332 and pp. 337-352, The Analysis and Use of Financial Statements, 3rd edition, Gerald I. White, Ashwinpaul C. Sondhi, and Dov Fried (Wiley, 2003)

“Leases and Off-Balance-Sheet Debt”
Ch. 11, pp. 363-383, including Box 11-1, and pp. 386-393, The Analysis and Use of Financial Statements, 3rd edition, Gerald I. White, Ashwinpaul C. Sondhi, and Dov Fried (Wiley, 2003)

"Financial Analysis Techniques"
Thomas R. Robinson, Hennie van Greuning, Elaine Henry, and Michael A. Broihahn (CFA Institute, 2007)

"Financial Statement Analysis: Applications"
Thomas R. Robinson, Hennie van Greuning, Elaine Henry, and Michael A. Broihahn (CFA Institute, 2007)

"International Standards Convergence"
Thomas R. Robinson, Hennie van Greuning, Elaine Henry, and Michael A. Broihahn (CFA Institute, 2007)

“Capital Budgeting”
Ch. 2, pp. 1-22, John Stowe and Jacques R. Gagne, Corporate Finance for the CFA Program (CFA Institute, forthcoming)


“Cost of Capital"
Ch. 3, pp. 1-20, Yves Courtois, Gene C. Lai and Pamela P. Peterson, Corporate Finance for the CFA Program (CFA Institute, forthcoming)
Member download (PDF)

"Working Capital Management"
Edgar A. Norton, Jr., Kenneth L. Parkinson, and Pamela P. Peterson (CFA Institute, 2006)

"Financial Statement Analysis"
Pamela P. Peterson (CFA Institute, 2006)
“The Corporate Governance of Listed Companies: A Manual for Investors”
(CFA Institute, 2005)


“The Asset Allocation Decision”
Ch. 2, Investment Analysis and Portfolio Management, 8th edition, Frank K. Reilly and Keith C. Brown (South-Western, 2006)

“An Introduction to Portfolio Management”
Ch. 7, Investment Analysis and Portfolio Management, 8th edition, Frank K. Reilly and Keith C. Brown (South-Western, 2006)

“An Introduction to Asset Pricing Models”
Ch. 8, pp. 229-252, Investment Analysis and Portfolio Management, 8th edition, Frank K. Reilly and Keith C. Brown (South-Western, 2006)

“Organization and Functioning of Securities Markets”
Ch. 4, Investment Analysis and Portfolio Management, 8th edition, Frank K. Reilly and Keith C. Brown (South-Western, 2006)

“Security-Market Indexes”
Ch. 5, Investment Analysis and Portfolio Management, 8th edition, Frank K. Reilly and Keith C. Brown (South-Western, 2006)

“Efficient Capital Markets”
Ch. 6, Investment Analysis and Portfolio Management, 8th edition, Frank K. Reilly and Keith C. Brown (South-Western, 2006)

“Market Efficiency and Anomalies”
Ch. 1, Beyond The Random Walk: A Guide to Stock Market Anomalies and Low Risk Investing, Vijay Singal (Oxford University Press, 2004)

“An Introduction to Security Valuation: Part I”
Ch. 11, Investment Analysis and Portfolio Management, 8th edition, Frank K. Reilly and Keith C. Brown (South-Western, 2006)

“Industry Analysis”
Ch. 13, pp. 466–468, Investment Analysis and Portfolio Management, 8th edition, Frank K. Reilly and Keith C. Brown (South-Western, 2006)

“Equity: Concepts and Techniques”
Ch. 6, pp. 256–273, International Investments, 5th edition, Bruno Solnik and Dennis McLeavey (Addison Wesley, 2003)

“Company Analysis and Stock Valuation”
Ch. 14, pp. 513–516 and 533–548, Investment Analysis and Portfolio Management, 8th edition, Frank K. Reilly and Keith C. Brown (South-Western, 2006)

“An Introduction to Security Valuation: Part II”
Ch. 11, Investment Analysis and Portfolio Management, 8th edition, Frank K. Reilly and Keith C. Brown (South-Western, 2006)

“Introduction to Price Multiples”
John D. Stowe, Thomas R. Robinson, Jerald E. Pinto, and Dennis W. McLeavey (AIMR, 2003)

“Features of Debt Securities”
Ch. 1, Fixed Income Analysis, 2nd edition, Frank J. Fabozzi (Wiley, 2007)

“Risks Associated with Investing in Bonds”
Ch. 2, Fixed Income Analysis, 2nd edition, Frank J. Fabozzi (Wiley, 2007)

“Overview of Bond Sectors and Instruments”
Ch. 3, Fixed Income Analysis, 2nd edition, Frank J. Fabozzi (Wiley, 2007)

“Understanding Yield Spreads”
Ch. 4, Fixed Income Analysis, 2nd edition, Frank J. Fabozzi (Wiley, 2007)

“Monetary Policy in an Environment of Global Financial Markets”
European Central Bank, Press Division, Otmar Issing, Capital Markets and Financial Integration in Europe, 2002

“Introduction to the Valuation of Debt Securities”
Ch. 5, Fixed Income Analysis, 2nd edition, Frank J. Fabozzi (Wiley, 2007)

“Yield Measures, Spot Rates, and Forward Rates”
Ch. 6, Fixed Income Analysis, 2nd edition, Frank J. Fabozzi (Wiley, 2007)

“Introduction to the Measurement of Interest Rate Risk”
Ch. 7, Fixed Income Analysis, 2nd edition, Frank J. Fabozzi (Wiley, 2007)

"Derivative Markets and Instruments"
Ch. 1, Analysis of Derivatives for the CFA® Program, Don Chance (AIMR, 2003)

"Forward Markets and Contracts"
Ch. 2, pp. 25-37, Analysis of Derivatives for the CFA® Program, Don Chance (AIMR, 2003)

"Futures Markets and Contracts"
Ch. 3, pp. 81-103, Analysis of Derivatives for the CFA® Program, Don Chance (AIMR, 2003)

"Option Markets and Contracts"
Ch. 4, pp. 159-194, Analysis of Derivatives for the CFA® Program, Don Chance (AIMR, 2003)

"Swap Markets and Contracts"
Ch. 5, pp. 269-285, Analysis of Derivatives for the CFA® Program, Don Chance (AIMR, 2003)

"Risk Management Applications of Option Strategies"
Ch. 7, pp. 411-429, Analysis of Derivatives for the CFA® Program, Don Chance (AIMR, 2003)

"Alternative Investments"
Ch. 8, International Investments, 5th edition, Bruno Solnik and Dennis McLeavey (Addison Wesley, 2004)