There are many publicly available academic resources that cover the fundamentals of investment, such as portfolio management, risk management, valuation models, etc. These resources can help investors build a knowledge framework and make their own investment decisions. However, any actual investment decisions should be made cautiously based on one’s own research, judgment and risk tolerance.
Key textbooks on investment fundamentals
Some of the most well-known textbooks that cover the fundamentals of investment in detail include:
– Investments by Zvi Bodie, Alex Kane and Alan J. Marcus
– Principles of Investments by Lawrence J. Gitman and Michael D. Joehnk
– Investment Analysis and Portfolio Management by Frank K. Reilly and Keith C. Brown
These textbooks introduce important concepts like risk and return, diversification, portfolio optimization, valuation models, behavioral finance and more. They can serve as a solid foundation for learning investment fundamentals.
Influential academic papers
In addition to textbooks, there are many influential academic papers that have shaped modern investment theory and practice, such as:
– Harry Markowitz’s Portfolio Selection theory that underpins modern portfolio theory and diversification principles
– The Efficient Market Hypothesis by Eugene Fama that discusses market efficiency
– The Capital Asset Pricing Model by William Sharpe that quantifies investment risk and expected return
Reading key academic papers can provide useful insights into the evolution of investment philosophies over the decades.
Useful online courses
With the growth of e-learning platforms, there are now many free or paid online courses that teach various aspects of investing in a structured way, such as:
– Investment Management from Rice University on Coursera
– Introduction to Finance from MIT OpenCourseWare
– Finance for Everyone: Investing from edX
These courses cover everything from core concepts to real world applications through video lectures, readings, quizzes and more. They can supplement physical textbooks nicely.
In summary, while making actual investments requires thorough research and judgment, the publicly available academic resources on fundamentals of investment can equip investors with a solid conceptual framework to make informed decisions aligned to their financial goals and risk tolerance.