Friday November 21, 2008
Business & Investing: Investing
Displayed below are the top selling items for today, Friday November 21, 2008 along with the review customers have voted "most useful".
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- The Intelligent Investor Rev Ed. (Collins Business Essentials) by Benjamin Graham
- When Markets Collide : Investment Strategies for the Age of Global Economic Change by Mohamed El-Erian
- Liar's Poker : Rising Through the Wreckage on Wall Street by Michael Lewis
- Rich Dad, Poor Dad : What the Rich Teach Their Kids About Money--That the Poor and Middle Class Do Not! by Robert T. Kiyosaki
- The Neatest Little Guide to Stock Market Investing by Jason Kelly
- Crash Proof : How to Profit From the Coming Economic Collapse (Lynn Sonberg Books) by Peter D. Schiff
- The Ten Roads to Riches : The Ways the Wealthy Got There (And How You Can Too!) by Ken Fisher
- The Little Book of Bull Moves in Bear Markets : How to Keep Your Portfolio Up When the Market is Down (Little Books. Big Profits) by Peter D. Schiff
- Enough : True Measures of Money, Business, and Life by John C. Bogle
- Mr. Market Miscalculates : The Bubble Years and Beyond by James Grant
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The Intelligent Investor Rev Ed. (Collins Business Essentials)
by Benjamin Graham
(based on 132 customer reviews)
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(Paperback)
Edition: Revised
Author: Benjamin Graham
Publisher: Collins Business
Price: $13.57
You save: $6.38 (32%) off the list price!
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Most useful review as voted by customers:
372 out of 378 people found the following review helpful.
Review Date: 8/11/03
Classic Investment Book Enhanced for Todayýs Investors
When I first came across the first edition of this book in my local library in 1959, I was a teenager. Back in those days there were only a handful of books about the stock market. And I've read all of them during my junior high and high school years.This latest updated 623-page paperback (the index alone is 33 pages) version updated by Jason Zweig is a welcome addition to this classic. The original chapters are intact, but with footnoted comments by Zweig. Moreover, he provides his own commentary on each chapter contents in a separate chapter following each original chapter. He provides extensive research, charts, tables and commentary that updates the book to the present years. He is not afraid to take on the big guns of Wall Street and show how wrong they were in some of their extremely bullish predictions during January-March 2000, when the market was at its peak.
The first nine chapters cover investing basics that all investors could benefit from. There are many truisms spouted on Wall Street that are not really true. These chapters provide the investor with a realistic picture of how Wall Street works and what investors need to do to come out ahead.
Chapters 10-20 focus strictly on fundamental analysis, stock selection, convertible issues and warrants, and other subjects. Investors who plan to invest directly in stocks should make sure to read these chapters. However, for readers more interested in investing in mutual funds, and in particular index funds, they need not concern themselves with all the detail in these chapters unless they have the time or interest in the subject matter presented.
In conclusion, the combination of pioneer Ben Graham?s original work coupled with Zweig?s meticulous and enjoyable update, make this a remarkable book about investments and investor behavior that every new and experienced investor should read. Of the 500 investing books that I?ve read, this one certainly is one of the greats of all time.
Click here to see more reviews for: The Intelligent Investor Rev Ed. (Collins Business Essentials)
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When Markets Collide
Investment Strategies for the Age of Global Economic Change
by Mohamed El-Erian
(based on 32 customer reviews)
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(Hardcover)
Edition: 1
Author: Mohamed El-Erian
Publisher: McGraw-Hill
Price: $18.45
You save: $9.50 (34%) off the list price!
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Most useful review as voted by customers:
97 out of 113 people found the following review helpful.
Review Date: 6/15/08
Timely Book on The Impact of Global Economic Change on Investing
If you find the present global economic situation to be confusing and filled with conflicting signals and noise, this excellent book by Mohamed El-Erian, the CEO of PIMCO and the former President of the Harvard Management Company where he managed Harvard's $35 billion endowment, should be on your reading list.
El-Erian brings a unique perspective to the task of separating the signal from the noise in today's volatile global markets. Having spent 15 years at the International Monetary Fund and the rest of his career in the trenches in emerging market research and investment at leading investment banks, he has a deep understanding of both the public policy side and the realities of global investing.
His premise could not be more timely: Global markets are undergoing profound changes and the present turmoil is neither the beginning nor the end of the transformation that is shaking up investors around the world. This bumpy process is nothing less than the collision of markets in which the markets of yesterday collide with those of tomorrow
The book offers analytical anchors for identifying the key elements of what, for some, have become key drivers in an unusually fluid environment. In addition to offering targeted, well written, explanations of some of the key sources of confusion and dislocation (U.S. national debt, new sovereign wealth funds and emerging, developing countries now funding the debt of the developed nations), El-Erian also provides some invaluable advice for personal investors.
Given his contention that most U.S. investors have not fully grasped the impact of the changes going on in global markets and the impact of higher commodity prices and shift to accelerating inflationary trends around the world, he provides a new sample asset allocation model for correcting some of the imbalances in most U.S. investors' portfolios.
His asset allocation table on pg. 198 provides an illustrative neutral asset mix for long term investors that is well worth the cover price of this book and was featured recently in an excellent article and interview in Barron's in the June 2, 2008 issue.
His writing style is fluid and command of the material impressive. Like most great authors and thinkers, he will have you challenging your present views and investment positions. This book is an outstanding companion to Unconventional Success: A Fundamental Approach to Personal Investment by David Swensen on the personal investment front and The Age of Turbulence: Adventures in a New World by Alan Greenspan on the public policy front.
In addition to raising the big issues, El-Erian provides a clear action plan for both investors and policy makers, a truly outstanding achievement in a field where leaders are too often focused on selling investment products rather than educating the investment public on the changes in global economic conditions.
Click here to see more reviews for: When Markets Collide
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Liar's Poker
Rising Through the Wreckage on Wall Street
by Michael Lewis (based on 222 customer reviews)
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(Paperback)
Author: Michael Lewis
Publisher: Penguin (Non-Classics)
Price: $10.20
You save: $4.80 (32%) off the list price!
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Most useful review as voted by customers:
145 out of 148 people found the following review helpful.
Review Date: 12/13/00
A must-read, if you are thinking of working on Wall St
I worked for CSFB for three years, and am still in investment banking for a smaller firm. So I have seen a part of the world that is described here. I'm not saying that this is an exact description of what I saw, because Lewis picks the most exotic creatures that he met, but the atmosphere is perfectly conveyed. This book will tell you all the stuff that they don't teach you in an interview or recruitment visit - the pecking order, the politics, and how to get paid.The other reason to read this is that Lewis is a brilliant writer, with a real talent for describing people and their situations. Lots of other people have written boring books with the same raw material. For a non-specialist like my mother, the technicalities were hard work, but you don't need a lot of special knowledge to like this book. My mother certainly did.
Probably the best way to look at this book is like a travel book - you're not visiting a country, you're visiting a world. Great travel books are not word-perfect descriptions of a place, they are representations of what the author felt like when he was there, and they give the reader a feeling of what it was like to be there. If you read this book, you will understand what it feels like to work inside a big bank, and you'll enjoy the ride, even if you have no interest in actually working there.
Click here to see more reviews for: Liar's Poker
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Rich Dad, Poor Dad
What the Rich Teach Their Kids About Money--That the Poor and Middle Class Do Not!
by Robert T. Kiyosaki (based on 2199 customer reviews)
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(Paperback)
Edition: 1
Author: Robert T. Kiyosaki
Publisher: Business Plus
Price: $11.53
You save: $5.42 (32%) off the list price!
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Most useful review as voted by customers:
1018 out of 1063 people found the following review helpful.
Review Date: 11/27/99
Everyone should read this.
It is unfortunate that in America, the greatest nation in the free world, few people including those with high incomes understand the value of investing and the proper use of money strategies.You can live off your income, but you can't get wealthy off your income. Wealth is the result of using principles such as are in this book.I also strongly recommend "Millionaire Next Door" and for managers and leaders, read"Direct from Dell" by Michael Dell. Great books.
Click here to see more reviews for: Rich Dad, Poor Dad
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The Neatest Little Guide to Stock Market Investing
by Jason Kelly (based on 228 customer reviews)
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(Paperback)
Edition: Revised
Author: Jason Kelly
Publisher: Plume
Price: $10.20
You save: $4.80 (32%) off the list price!
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Most useful review as voted by customers:
303 out of 309 people found the following review helpful.
Review Date: 3/13/01
Beginner to Guru in 7 easy chapters
Kelly has put together an excellent book here. In 7 chapters, he covers a breadth of knowledge that every serious or potential stock investor should be familiar with. I learned more in the week I spent reading this book, than in 6 months of listening to tips from co-workers, on-line discussions, and self-directed research.In chapter 1, he defines all the terminology you'll encounter in stocks. In a very readable manner, he quickly covers EPS, P/E, PSR, ROE, Beta, and numerous other concepts that are useful.
In chapter 2, he describes the methods of 6 all-time top investors (including: Buffett, Lynch, O'Neil, etc.) comparing and contrasting there methods.
In chapter 3, he explores what some historic evaluations of stock growth show. This is great stuff, especially during a down market.
In chapter 4, he explains in detail the Dow Dividend Strategy. Anyone can understand this and with only 30 minutes of work per year have a relatively successful investment plan.
In chapter 5, he covers the process of choosing a broker and placing orders.
In chapter 6, he covers some of the many methods you can use to research stocks. With a ton of web-sites, newsletters, and books, Kelly's advice can save you countless hours wasting time looking for information from the wrong source.
In chapter 7, he explains his own strategy. With easy to understand worksheets and using the knowledge gained earlier in the book, he guides you into an investment plan that will suit you.
Not only is this book full of good information, but it's written in a very readable manner. I highly recommend reading this book BEFORE making another investment decision. Even if you have a broker that you like, you owe it to yourself to educate yourself with this book.
Click here to see more reviews for: The Neatest Little Guide to Stock Market Investing
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Crash Proof
How to Profit From the Coming Economic Collapse (Lynn Sonberg Books)
by Peter D. Schiff (based on 259 customer reviews)
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(Hardcover)
Author: Peter D. Schiff
Publisher: Wiley
Price: $16.77
You save: $11.18 (40%) off the list price!
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Most useful review as voted by customers:
627 out of 686 people found the following review helpful.
Review Date: 3/13/07
From a FinancialSense.com listener...
Peter Schiff, son of American patriot Irwin Schiff, has written a very useful book that can not only assist you to take the concrete steps necessary for financial survival, but also change your individual psychology toward the storm on the horizon that is rapidly gathering strength. Today, we have the illusion of prosperity, and the sooner we break through that delusional state, the sooner we can prepare for darker days.
At this point, there are so many possible triggers for the Second Great Depression, it's striking that it has not already begun. The sub-prime meltdown may just be such a trigger that brings down the house of cards, once it becomes more clear which entities actually hold all the risk created as part of the Housing Bubble. Wall Street, sub-prime lenders, and the large banks have been ingenious in their ability to push risk onto other parties, but it's not clear if the counter-parties will have the ability to weather the defaults. Thus, the risk may yet reside with the banks, which normally would have been more restricted in the number of loans they could create by more traditional standards. So much debt has been created, and so much risk obfuscated, that it is hard to imagine our present illusion of prosperity can be maintained much longer.
Mr. Schiff breaks through our modern mythology by shattering these illusions, and here is where he shines best. A bear's bear, Mr. Schiff steps down from the towers of the economic elite to provide analogies that can be readily digested by more casual readers. The analogy of the Asians and the American trapped on an island together is apropos, as it reveals much about the true state of international trade. The Dollar Bubble heavily distorts trade in favor of America, which benefits disproportionately from the inflated value of the dollar.
Mr. Schiff also understands very well the entitlement crisis brewing, and aptly names Social Security a Ponzi Scheme. Most people in Generations X and Y understand that we're the bagholders scheduled for the Ponzi Scheme, but many Baby Boomers love to be delusional about this tragic farce, thinking it's a form of savings rather than our government writing worthless IOUs to itself and lying to the American people. They think Gen X "owes" it to them! Ha Ha! The sooner we can end social security, the sooner we can start saving real money with real assets. Until then, we are slaves waiting for generational emancipation.
I remember the first time I heard Mr. Schiff speak on CNBC. The discussion was about inflation, and I couldn't help but notice Mr. Schiff's definition diverged significantly from the definition used by the brainless cheerleaders on CNBC, and for that matter, our government and most of Wall Street. The proper definition of inflation is "debasement" and secondarily, "an increase in the supply of money which causes a rise in prices" (Webster's 1982). Note the difference between these two definitions and the more commonly used definition today, which is simply "a rise in prices."
CNBC would have us believe that money supply doesn't matter when you can fool people into believing that the risks associated with exuberant money creation won't be felt by anyone, or only by parties "most able to bear that risk." How convenient! What the government doesn't want you to know is that the Federal Reserve creates inflation, and both government and the Federal Reserve benefit from this inflation at everyone else's expense. In the history of every mania and crash, rampant money creation is behind the genesis of every one. Usually, it takes a unique form. In this case, it was the Housing Bubble. So, inflation and the Housing Bubble are intimately linked. As many have often pointed out, the Housing Bubble was needed to replace the Nasdaq Bubble that popped in 2000-2002.
Finally, the juicy part - how to survive. Mr. Schiff advocates foreign equities that are sound and pay excellent dividends, which due to the Dollar Bubble, might do very well. So long as there is sufficient domestic demand (abroad) after a currency revaluation, this appears good advice. Although, one has to wonder if the U.S. catches cold, would Asians follow?
Next, buy gold and silver, and mining shares. This is pretty standard advice from the "Gloom and Doom" crowd as we are sometimes named. Lastly, he recommends staying liquid, which generally means reducing debt and keeping assets in a form that can be readily converted from one type to another. He recommends leveraging overvalued home equity in other currencies and storing small amounts of imported goods likely to rise in price, and a few other measures.
The piggy bank on the cover is a nice touch, and the list of books for further reading is most helpful for those who have not already read many of the titles.
A very quick read, easy to understand, and very well put together. I highly recommend this book.
Click here to see more reviews for: Crash Proof
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The Ten Roads to Riches
The Ways the Wealthy Got There (And How You Can Too!)
by Ken Fisher (based on 3 customer reviews)
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(Hardcover)
Author: Ken Fisher
Publisher: Fisher Investments Press
Price: $16.47
You save: $8.48 (34%) off the list price!
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Most useful review as voted by customers:
21 out of 23 people found the following review helpful.
Review Date: 10/22/08
Great fun. Good read.
A fun, fast (read it in one day) and eye-opening read on the real roads to real wealth. This was very different from Fisher's last book, the Only Three Questions that Count, which I also liked, but did not disappoint. This book is not about stocks per se (although Fisher does cover stock investing in one of the chapters as a path to wealth) but rather is a sort of frank public service announcement about the most realistic paths to wealth. And, it helps you figure out how to improve your odds of getting down the path you choose more successfully.
The book uses real life, and often very funny examples to show what to do and what to avoid doing if you want to build real wealth. Highly recommended.
Click here to see more reviews for: The Ten Roads to Riches
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The Little Book of Bull Moves in Bear Markets
How to Keep Your Portfolio Up When the Market is Down (Little Books. Big Profits)
by Peter D. Schiff (based on 17 customer reviews)
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(Hardcover)
Author: Peter D. Schiff
Publisher: Wiley
Price: $13.57
You save: $6.38 (32%) off the list price!
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Most useful review as voted by customers:
43 out of 44 people found the following review helpful.
Review Date: 10/9/08
They laughed at him with his negative outlook several years ago.
Gold, commodities, foreign companies with little exposure to the USA. That is the gist of Peter Schiff's investing recommendations. Why? He's not unpatriotic, but rational in his thinking that the US has lost its way through outsourcing production of goods, and overwhelmingly becoming a country of service oriented personnel. We make nothing, we buy most, and are up to our ears in debt, which will take its toll now and in the future on the dollar. There are several well known "Doctor Dooms" around. Rubini, Jim Rogers, Jim Sinclair, and Peter Schiff. I never thought that I would ever be a bear on the US stock market, until I started reading not only Peter Schiffs books and the others, but books on derivatives and other financial inventions, that could bring markets down entirely, and for a while. Impossible you say? If you think so, you need to read this. The Dow was down again today nearly 700 points. Maria Bartiromo is starting to call this a market crash. I stayed up the whole night reading this book. The writing flows and points are great, except when he recommends that you buy a gun, and learn how to use it- maybe he's correct there too. He's half tongue-in-cheek. He makes one recommendation that he says will make the dot.com bubble look like "warming up", during the next decade. Curious? Ans: gold producer stocks. Great book.
Click here to see more reviews for: The Little Book of Bull Moves in Bear Markets
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Enough
True Measures of Money, Business, and Life
by John C. Bogle (based on 6 customer reviews)
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(Hardcover)
Author: John C. Bogle
Publisher: Wiley
Price: $16.47
You save: $8.48 (34%) off the list price!
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Most useful review as voted by customers:
17 out of 19 people found the following review helpful.
Review Date: 11/2/08
When is it enough?
Enough is an unusual book and a suitable wake-up call for Americans. It's unusual because it's written by John Bogle, a man who has spent his career helping people build wealth through investments. You might think his message is, "it's never enough," but it's far from it.
Bogle's effort is dedicated to responsible investing and avoiding a life spent running blind with dollar signs in your eyes. Bogle takes care in describing what "enough" is, and how we can follow his insight to use this understanding to live more fulfilling professional and personal lives (and be more responsible investors).
Another book I recommend because I've enjoyed it immensely and benefitted greatly from it as I adjust to our freefalling economy is The Emotional Intelligence Quick Book
Click here to see more reviews for: Enough
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Mr. Market Miscalculates
The Bubble Years and Beyond
by James Grant (based on 1 customer review)
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(Hardcover)
Author: James Grant
Publisher: Axios Press
Price: $14.96
You save: $7.04 (32%) off the list price!
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Most useful review as voted by customers:
25 out of 25 people found the following review helpful.
Review Date: 11/2/08
In a Rising Market, It's More Profitable not to Ask
"The Cassandra industry is not so remunerative as the hedge fund business, so the professional investors and bankers stay in the race, taking the kind of risks that their better judgment tells them to avoid." states James Grant in his 'Mr. Market Miscalculates, The Bubble Years and Beyond,' a work comprised of pieces from his 'Grant's Interest Rate Observor.'
Grant has been charting the course of market excesses on a fortnightly basis for 25 years, and he has a remarkable record of getting it right. Most pointedly, Grant illuminates the human foibles to which we all fall prey and how these foibles precipitate the daily gyrations of stock and bond price levels. Grant's wealth of understanding is outstanding enough to recommend the book, but his ability to generously lace his writing with his sense of humor makes his writing simply priceless.
About the dismal financial crisis, Grant wryly remarks that there is more than enough blame to go around. Grant faults human nature in general for markets gone wild, yet he is particularly impressed by the level of incompetence exhibited by recent leaders who, according to Grant, "failed almost to the man."
The no-holds-barred book journeys through the missteps of the economic leaders of our times, and it does so with a breath-taking straightforwardness. Given the state of the world's economic affairs, I hope 'Mr. Market' becomes required reading for the legislators, the judiciary, and the executives charged with fixing the world's financial systems.
Click here to see more reviews for: Mr. Market Miscalculates
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