[en] Inelastic neutron scattering experiments performed on the 3-d transition metal ferromagnets have revealed striking behavior associated with the magnetic excitations found in these materials. Of particular importance is the disappearance of the spin-wave mode above a certain cut-off wave vector and the existence of spin-wave mode above a certain cut-off wave vector and the existence of spin-waves well above the Curie temperature. These phenomena can be understood if the magnetic electrons are assumed to be itinerant. At low temperatures, quantitative predictions of the itinerant electron theory based on KKR energy band calculations have been found to be in excellent agreement with experiment. In addition, these calculations predicted the existence of an optical spin-wave mode in nickel which was recently observed. A comparable numerical investigation at higher temperatures must await the development of a realistic finite temperature theory, which is currently under investigation