本书共9章内容，第一章证券投资概述，解析证券与投资的核心概念，金融科技与证券投资的关系;第二章证券投资工具，介绍股票、债券、证券投资基金及金融衍生工具等投资工具;第三章证券市场，依注册制改革后新规讲解证券发行与交易市场;第四章投资组合理论，包括马柯威茨的投资组合理论、投资组合管理绩效评价等内容；第五章证券投资分析概述，证券投资分析的含义、目标及方法等；第六章证券投资的基本分析，包括宏观经济分析、行业分析和上市公司分析；第七章证券投资技术分析理论与方法，包括K线分析法、切线分析法、形态分析法、波浪分析法；第八章证券投资技术指标分析；第九章证券投资策略及创新。 本书适用对象广泛，可作为经管类本、专科生教材，亦适用于非经管专业学生、证券从业人员及广大投资者自学参考。

闫怀艳 主编。闫怀艳，广州南方学院副教授，金融工程专业负责人，发表论文十余篇，主编教材2部，副主编1部，主持参与省级课题多项，主要研究方向:绿色金融、农村金融。 朱海鹏 主编。朱海鹏，广州南方学院，商学院金融系主任兼互联网金融专业负责人，副教授，发表论文十余篇，主编《互联网金融理论与实践》等教材，主要研究方向：金融市场与企业投融资。 王雨湉 主编。王雨湉，广州南方学院，教师，墨尔本大学金融硕士，教授课程“证券投资学”“国际金融”等，主要研究方向:投资组合管理。

第一章 证券投资概述 ························· 1 第一节 证券与证券投资 ···················· 1 一、证券的概念与分类 ················ 1 二、有价证券的基本特征 ············· 4 三、投资及风险偏好 ··················· 5 第二节 证券投资的条件、要素和步骤 ··································· 6 一、证券投资的条件 ··················· 7 二、证券投资要素 ······················ 7 三、证券投资的步骤 ··················· 8 第三节 金融科技与证券投资 ············· 10 一、金融科技概述 ····················· 10 二、金融科技对证券投资流程的 影响 ································· 11 本章小结 ········································ 12 同步练习 ········································ 13 第二章 证券投资工具 ························ 14 第一节 股票 ·································· 14 一、股票的概念和特征 ··············· 14 二、股票的分类 ························ 15 三、与股票相关的概念 ··············· 18 四、普通股 ······························ 21 五、优先股 ······························ 22 第二节 债券 ·································· 25 一、债券的含义、特征和分类 ······ 25 二、债券发行方式 ····················· 29 三、债券发行的价格和定价 方式 ································· 29 四、债券发行流程 ····················· 30 五、债券的信用评级 ·················· 30 六、影响债券期限和利率的 主要因素 ·························· 30 七、债券与股票的异同 ·············· 31 第三节 证券投资基金 ····················· 32 一、证券投资基金的含义、 特征和分类 ······················· 32 二、证券投资基金的当事人 及其关系 ·························· 36 三、证券投资基金的费用 和估值 ····························· 37 四、证券投资基金与股票、 债券的区别 ······················· 38 第四节 金融衍生工具 ····················· 39 一、远期合约 ·························· 39 二、期货交易 ·························· 39 三、期权合约 ·························· 42 四、金融互换 ·························· 43 本章小结 ······································· 44 同步练习 ······································· 44 第三章 证券市场 ······························ 45 第一节 证券市场概述 ····················· 45 一、证券市场的含义 ················· 45 二、证券市场的特征 ················· 46 三、证券市场的分类 ················· 46 四、证券市场的参与者及特点 ····· 48 五、证券市场价格指数 ·············· 53 六、我国主要的股票价格指数 ····· 56 七、国外主要的股票价格指数 ····· 59 第二节 证券发行市场 ····················· 61 一、证券发行市场概述 ·············· 61 二、证券上市的概念及类型 ········ 63 第三节 证券流通市场 ······················ 63 一、证券流通市场的特点 及功能 ······························ 64 二、场内交易市场 ····················· 64 三、场外交易市场 ····················· 67 四、证券交易程序 ····················· 68 本章小结 ········································ 73 同步练习 ········································ 74 第四章 投资组合理论 ························ 75 第一节 哈里·马科维茨的投资 组合理论 ···························· 75 一、投资者的风险偏好分析 ········· 75 二、资产的关联性与风险分散 ······ 79 三、资产组合的收益与风险 ········· 81 四、有效投资组合与最优 投资组合 ··························· 85 五、引入无风险资产的有效投资 组合与最优投资组合 ············ 86 第二节 资本资产定价模型 ················ 89 一、资本资产定价模型的 基本假设及公式 ·················· 89 二、资金借入与贷出 ·················· 91 三、分离定理与资本市场的 均衡 ································· 93 四、资本市场线、证券市场线 与特征线 ··························· 93 五、资本资产定价模型的应用 ······ 98 第三节 投资组合管理业绩评价 ········ 100 一、投资组合管理业绩评价 概述 ······························· 100 二、单因子模型 ······················ 100 三、多因子模型 ······················ 101 四、证券选择能力评估 ············· 103 五、市场时机把握（择时） 能力 ······························· 104 本章小结 ······································ 105 同步练习 ······································ 105 第五章 证券投资分析概述 ··············· 107 第一节 证券投资分析的含义 及目标 ····························· 107 一、证券投资分析的含义 ·········· 107 二、证券投资分析的目标 ·········· 108 第二节 证券投资分析的主要方法 ····· 109 一、基本分析法 ······················ 109 二、技术分析法 ······················ 110 三、量化分析法 ······················ 112 第三节 投资者行为分析 ················· 116 一、有效市场假说 ··················· 116 二、行为金融学对投资者行为的 现实解释 ························· 118 本章小结 ······································ 121 同步练习 ······································ 122 第六章 证券投资的基本分析 ············ 123 第一节 宏观经济分析 ···················· 124 一、宏观经济分析概述 ············· 124 二、宏观经济运行与证券市场的 关系分析 ························· 130 三、宏观经济政策分析 ············· 134 第二节 行业分析 ·························· 138 一、行业的含义与行业分析的 意义 ······························· 138 二、行业划分的方法 ················ 138 三、行业的一般特征分析 ·········· 140 四、影响行业兴衰的主要因素 ···· 143 第三节 上市公司分析 ···················· 144 一、上市公司分析概述 ············· 144 二、公司基本分析 ··················· 145 三、公司财务分析 ··················· 148 四、绝对估值法 ······················ 155 五、相对估值法 ······················ 160 本章小结 ······································ 162 同步练习 ······································ 162 第七章 证券投资技术分析理论 与方法 ································ 164 第一节 证券投资技术分析概述 ········ 165 一、技术分析的含义 ················ 165 二、技术分析的四大要素 ·········· 165 三、技术分析的理论基础 ——道氏理论 ··················· 166 四、技术分析的方法 ················ 167 五、技术分析方法应用时 应注意的问题 ··················· 167 第二节 K线分析法 ······················· 168 一、K线的画法和主要形状 ······· 168 二、K线的组合应用 ················ 170 三、应用K线组合应注意的 问题 ······························· 174 第三节 切线分析法 ······················· 174 一、趋势概述 ························· 174 二、支撑线和压力线 ················ 175 三、趋势线和轨道线 ················ 179 四、黄金分割线和百分比线 ······· 181 五、扇形线 ···························· 182 六、应用切线理论应注意的 问题 ······························· 183 第四节 形态分析法 ······················· 183 一、股票价格移动规律和两种 形态类型 ························· 184 二、反转突破形态 ··················· 184 三、持续整理形态 ··················· 191 四、应用形态理论应注意的 问题 ······························· 197 第五节 波浪理论 ·························· 197 一、波浪理论的形成过程及其基本思想 ························· 197 二、波浪理论的主要原理 ·········· 198 三、波浪理论的应用及应注意的 问题 ······························· 200 第六节 实例分析 ·························· 201 本章小结 ······································ 204 同步练习 ······································ 205 第八章 证券投资技术指标分析 ········ 206 第一节 技术指标分析简介 ·············· 206 一、技术指标的定义与分类 ······· 206 二、技术指标分析的研判角度 ···· 207 第二节 大势型指标 ······················· 209 一、ADL ······························· 209 二、ADR ······························· 210 三、OBOS ····························· 211 第三节 趋势型指标 ······················· 212 一、MA ································· 212 二、MACD ···························· 215 第四节 超买超卖型指标 ················· 218 一、WMS ······························ 218 二、KDJ ································ 219 三、RSI ································· 222 四、BIAS ······························· 224 第五节 人气型指标 ······················· 226 一、PSY ································ 226 二、OBV ······························· 227 三、AR和BR ························· 229 第六节 证券投资技术分析的 智能化 ····························· 231 一、机器学习在技术分析中的 应用 ······························· 231 二、技术分析软件的智能化 ······· 232 本章小结 ······································ 233 同步练习 ······································ 234 第九章 证券投资策略及创新 ············ 235 第一节 传统的证券投资策略 ··········· 235 一、分散化投资策略 ················ 235 二、长期持有策略 ··················· 236 三、短期持有策略 ··················· 238 四、杠铃策略 ························· 239 五、价值投资策略 ··················· 240 六、趋势投资策略 ··················· 243 七、指数化投资策略 ················ 244 八、套利策略 ························· 245 九、事件驱动策略 ··················· 246 第二节 创新的证券投资策略 ··········· 247 一、量化投资策略 ··················· 247 二、智能算法交易策略 ············· 249 三、绿色金融投资策略 ············· 250 四、情绪反转策略 ··················· 251 本章小结 ······································ 252 同步练习 ······································ 252 参考文献 ··········································· 253 附录 ·················································· 254