This document discusses investment decision making. It defines investment and outlines the objectives of studying portfolio management and capital markets. It explains that investment decision making involves understanding different decision rules, categories of rules, and ensuring expected returns. The decision process involves characterizing good rules, calculating returns based on constraints, eliminating alternatives, and using rules to accept or reject opportunities. Good rules maintain a balance between analysis and subjectivity while maximizing value and minimizing risk across various investments. Common categories of rules are accounting income-based and cash flow-based.