The market-leading undergraduate investments textbook, Essentials of Investments by Bodie, Kane, and Marcus, continually adapts to the dynamic shifts in financial markets while maintaining a core theme - that security markets are nearly efficient, meaning you shouldn't expect to find obvious bargains in these markets. This text places significant emphasis on asset allocation, seamlessly integrating practical applications of investment theory. Focus on investment analysis allows the authors to present the practical applications of investment theory and convey practical value insights. A collection of Excel spreadsheets is provided to give you the tools to explore concepts more deeply. In their commitment to bridging theory with practice, the author team aligns their approach with that of the CFA Institute. The inclusion of questions from previous CFA exams in the end-of-chapter problems, along with CFA-style questions derived from Kaplan-Schweser CFA preparation courses, link theoretical foundations to real-world scenarios. The addition of Integrated Excel assignments in the Connect platform rounds out the student success resources that include auto-graded problems, Tableau Dashboard Activities, and Smartbook, an adaptive reading and practice tool for students.