These research papers study a number of important issues in the world's financial markets.The objective of the book is to provide the reader with a comprehensive and balanced overview of the world's financial markets at the end of the 20th century.

Portfolio diversification is an important subject for investors. Exchange-traded index funds make it easy for investors to achieve sector and global portfolio diversification. This book explains the risks, returns, and portfolio diversification benefits of sector and global investments. The book consists of six parts and nineteen chapters. In the introductory first chapter in Part I, the authors explain the basics of risk, return, and portfolio diversification. The three chapters in Part II explain the risks, returns, and portfolio diversification benefits of investing in sector ...