Customer Reviews: Read 30 more reviews...
 Definitely not for self study June 18, 2008
Smeeves (San Francisco Bay Area)
The exercises could be improved upon. The book needs a good teacher/instructor in order to "come alive" - not a book for self-study. But then again, which Finance book is?
Since New Edition is available - not used much now September 12, 2007
Pramesh Aryal (Providence, RI)
0 out of 1 found this review helpful
although I got one in good shape. Did not get the CD i was promised.
 First, they should learn to write sentences! August 21, 2007
F. Giles (San Jose, Ca USA)
1 out of 1 found this review helpful
This book falls into the category of professors who know the material, but just can't communicate it. I can tell it was written on a schedule...sloppy wording, confusing definitions, and unintuitive examples and explanations. This information isn't that tough to understand...poor writing makes it so.
Here's a paragraph defining WACC, p.11.
Financial managers also must make finance decisions relating to how to finance the firm. In particular, what mix of debt and equity should be used, and what specific types of debt and equity should be issued? Also, what percentage of current earnings should be retained and reinvested rather than paid out as dividends? Along with these financing decisions, the general level of interest rates in the economy, the risk of the firm's operations, and stock market investors' overall attitude toward risk determine the rate of return that is required to satisfy a firm's investors. This is a return from investors' perspectives, but it is a cost from the company's point of view. Therefore, it is called the weighted average cost of capital (WACC).
As in the rest of the book, too many words, no directness or clarity.
Don't buy this book for self-study; you'll spend most of your time trying to decipher the obfuscating sentences.
 finance student July 9, 2007
Jason Sanchez (california)
I felt that the book was good. Some of the concepts could have been explained in better detail. I notice that on a lot of the chapters the authors repeated some of the material more than once. Some chapters need more practice problems like in chapter 5. This book explains the basic and fundamental concepts good but does not explained the difficult concepts good. Overall, this book was good.
Not a good book to learn from May 31, 2007
N. T. Beard (Silicon Valley, CA)
This book's explanations were poor at best. It utilized undefined terms, and had a weak glossary/index.
Explanations of financial formulas were sorely lacking, and the organization of these formulas so that one could ever find them wasn't even attempted.
Not recommended.
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