Book Description
The classic bestseller by
Benjamin Graham, perhaps the greatest investment advisor of the Twentieth Century,
The Intelligent Investor has taught and inspired hundreds of thousands of people worldwide. Since its original publication in 1949, Benjamin Graham's book has remained the most respected guide to investing, due to his timeless philosophy of "value investing," which helps protect investors against areas of (possible) substantial error and teaches them to develop long-term strategies which they will be comfortable with down the road.
Among this audio's special features are the use of numerous comparisons of pairs of common stocks to bring out their elements of strength and weakness and the construction of investment portfolios designed to meet specific requirements of quality and price attractiveness.
Read by Bill McGowan
Customer Reviews:
Outdated. Buy a newer edition........2007-04-18
I am an eager reader of books on Warren Buffett's investing methods. I really want to like "The Intelligent Investor", but I don't. Unfortunately, Benjamin Graham did not write his books to be timeless. Instead, he wrote them specifically for the investing environments as they existed at the times of publication. This audiobook is of the 1972 edition of "The Intelligent Investor", and it reflects the investing environment of the early 1970's.
The story of Mr. Market and the principle of "a margin of safety" are important concepts contained in this book, but they can be found in other writings by and about Warren Buffett.
There is an updated edition of "The Intelligent Investor" by Jason Zweig. It was published in 2003. Hopefully that is better than the older, outdated editions. It is not (yet) available in audio format.
If you are looking for a good audiobook on Warren Buffett's investing methods, I highly recommend "How to Pick Stocks Like Warren Buffett" by Timothy Vick. The best book on Buffett's investing methods that I have read is "The New Buffettology" by Mary Buffett, but it is not available as an audiobook.
Excellent book for beginners.......2007-01-11
This book is specifically for invertors not speculators. Haveing this on CD and a book format, its easier to grab the ideas that were written couple of decades and still its worth.
Intelligent Investor CD.......2006-08-30
Have the book and the CD. They work well together. The CD is great just after reading the book to hammer some of the big picture concepts. The CD is wonderful rush hour material to get you out of that rush hour driving sooner! It is worth the $$ to have both.
Book Description
Turn financial statements into powerful allies in your decision making
Whether you're an investor, creditor, consultant, regulator, manager-or an employee concerned about your company's well-being and the stability of your job-the ability to successfully interpret and analyze financial statements gives you a leg up in today's rough-and-tumble marketplace. Analysis of Financial Statements, Fifth Edition, by Leopold A. Bernstein and John J. Wild, gives you every practical, up-to-date method for making the data in financial statements clear and meaningful. You get analytical tools that range from computation of ratio and cash flow measures to earnings prediction and valuation as you learn how to reconstruct the economic reality embedded in financial statements. User-friendly and engaging, this hands-on classic is loaded with graphs, charts, and tables, so you can see how topics relate to the business practices of actual companies. A concluding comprehensive case analysis of the Campbell Soup Company gives shape and color to the author's step-by-step lessons.
Customer Reviews:
One of the best I've read.......2006-03-17
I am not a CPA or Finance major. I am a physicist so the math is not intimidating. I have been investing as an amateur since retirement and this book gives solid and easily understood ways to get at the valuation of a company and its stock by investigating the financial statements. There is a good comprehensive case study at the end of the book, but I wish the authors would give more examples either within or at the end of each chapter.
Informative, but hard to read.......2003-07-08
I did not finish this book because it is written in a very academic and hard to grasp language. Authors, please make your sentences a little shorter and simpler, the book is very boring and verbose! However, I must give credit to the authors for including almost all of the tools one will need for analysis of financial statements.
Each edition of this book just gets better and better!.......2000-06-03
I have bought every edition of this book, and it just keeps getting better and better. As a 25 year veteran of corporate finance, I continue to use this book myself on a regular basis and to recommend it to less experienced employees who are still developing their expertise. Every finance library should have this book.
Customer Reviews:
A Worthwhile Read for Any Multi-Family Real Estate Investor.......2007-09-30
I purchased and read this book after hearing an interview that talked about Ken's next book in the series--the more advanced version of this book. I've been a real-estate investor for some years and along with my two partners we own 1800 units in three western states. I've never before read an investment book that I didn't have some major disagreements with before reading this one. Actually, the only thing surprising to me was that Ken doesn't provide emergency lock-out service for his residents. We do, but many things in this business are counter-intuitive. I'd like to know his reasons. It's too bad he doesn't have a blog--and even though I'm not reviewing his personal website, he needs an update including downloads of the forms he promises to have available there in the book (they're still coming soon according to the web-site, but it's 3 years since the book came out).
There seems to be a lot of confusion among the reviewers as to who this book should appeal to. I think to all: from beginner to seasoned investor. Some who feel it doesn't address them in the reviews haven't paid attention. Buying single family homes and renting them is speculation. Small mom and pop rentals are also not investing any more than is flipping homes. I've watched these speculators come and go over the years--good luck to them they'll need it. Meanwhile if you're an ambitious 20 something who wants to go into real-estate who doesn't have the money, go to work for someone like me, or if you like more structure, for a large property management company and learn the business and you'll find lots of money available to you. If you're older, like I was, find some partners, take the risk and plan to work.
A saying I've always remembered is: Wise men learn from others' mistakes, fools from their own, and the rest just don't learn. I've always aspired to be at least a fool, but I wouldn't hesitate to learn from the mistakes of others. I recommend the book.
Need more concrete answers.......2007-08-02
Book is a good read, but I felt I needed more concrete answers to my questions. Maybe more strategies or specific steps to take in different scenarios.
I have found another book that answered my questions and had more strategies to share. Bubble Proof: Real Estate Strategies that Work in any Market by Tonja Demoff. Great read!
We'll talk about that later!.......2007-06-27
Author spends a lot of time telling you he will discuss it in a later chapter. Overall a decent book with relevent information.
The answer!.......2007-06-10
If you are serious about investing in real estate,then this is the real estate "Bible" of investing.
Great Real Estate Investment Book.......2007-05-14
This book was an excellent primer in Investing in Real Estate. I was extremely pleased with the easy to understand material, and guidelines it provided me on the subject. I would highly recommend it to anyone that is serious about investing in real estate.
Book Description
Real Estate Advantages is for first-time as well as seasonedreal estate investors.It reveals the tax and legal loopholes availableand most important, how they can be used together to not only maximize yourincome--but accelerate your income from real estate investing.SharonLechter and Rich Dad's Advisor Garrett Sutton team up for the first time todeliver practical, proven strategies and formulas--from the perspective ofsuccessful investors, CPAs and asset protection attorneys--for acheivingthe greatest leverage from real estate investing.Written ineasy-to-understand language, this book de-mystifies the legal and taxaspects of investing with easy-to-follow, real life examples. Real EstateAdvantages reveals how you can find good advisors, create steady monthlyincome, reduce your risk, pay less in taxes, make more money with yourbanker's money and, best of all, the government helps you!
Customer Reviews:
Loaded with Helpful Strategies .......2007-08-26
Very informative. This book is full of great strategies of how to maximize your return and how to protect your real estate investments and retire comfortably. You will learn how to choose the right asset protection for your investments, how to maximize your real estate investments to your retirement advantage, the use of 1031 exchange to pass on assets to your kids without paying capital gain tax, how to mix and match business entities if you have multiple RE investments in different states, learn the advantages and disadvantages of a Nevada, Wyoming, California, Texas corporation or LLC. After reading this book, I attended a seminar with the co-author lawyer, Garrett Sutton, at a National Real Estate Investment Club Expo in L.A Convention Center. We had a Q&A after his presentation. This guy really knows his stuff. He seems to be a nice and humble person. If you are a RE investor or thinking of becoming one, I highly recommend this book. I also recommend that you consult with his office for asset protection. He does business over the phone for all states. You can also get lots of tips and info in Garrett Sutton's websites.
A Solid Foundation for launching a RE Investing career..........2007-08-20
Of all the Real Estate "How To" books and programs I've purchased over the years, one thing was always lacking...the legal aspects of holding and protecting the property. A few may have touched on it, but nothing as meaty as this book. Very informative and easy to understand. Buying real estate without reading this book would be like going into combat without weapons and body armor...at some point you're going to end up getting killed ( or sued ). In this day and age where people are suing fast food restaurants for making them fat, or cigarette companies for giving them cancer, don't think some tenant won't sue you some day for something equally as stupid. This book is super cheap insurance...buy it if you're seriously considering real estate investing.
Road to sucess!.......2007-06-10
The money you will save buying this book will save you thousands!It is a reference book that help you avoid all the common tax and legal problems when investing in real estate.
The ultimate get started book.......2007-04-10
This has been one of the best books on real estate I have ever read. I am just about to get started and will definately put this book into action. It is hard to get all of the topics for real estate into one easy to read format, but the Rich Dad advisors have done it and with a little flare. It is an easy read and good for anyone serious about getting started or if you have made mistakes along the way.
Great Stuff for the Money wise!.......2007-04-10
Full of great information if you want to know how to avoid costly mistakes for managing your excess funds.
Average customer rating:
- Interesting Book Flawed by Numerous Typos
- Lacks Depth of Coverage
- Only focuses on risk of returns and leverage
- BEWARE!
- Good book with a very narrow focus
|
The Hedge Fund Handbook: A Definitive Guide for Analyzing and Evlaluating Alternative Investments
Stefano Lavinio
Manufacturer: McGraw-Hill
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Binding: Hardcover
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Hedgehogging
ASIN: 0071350306 |
Book Description
Hedge funds--one of today's most popular and lucrative investments for high net-worth individuals--also carry tremendous risk for the unwary. The Hedge Fund Handbook provides new tools and frameworks for understanding these complex funds, with the emphasis on risk measurement and management. Extensive charts and graphs demonstrate the inadequacies of traditional methods of analysis while offering the reader a striking new method for detailed, accurate analysis.
Customer Reviews:
Interesting Book Flawed by Numerous Typos.......2006-07-31
This book is certainly not a definitive guide to evaluating hedge funds. It focuses pretty much exclusively on a number of tools for evaluating the risks and returns of hedge funds from a quantitative perspective. It discusses and illustrates some interesting ideas such as the Hurst Index and d ratio to help us evaluate the dynamic nature of hedge fund returns. However, the book is flawed by many figures that either do not display what they are said to in the text or sometimes simply repeat the previous figure with a different number and caption, or perhaps are completely wrong. This makes the book hard to understand in parts.
Lacks Depth of Coverage.......2003-04-26
I read this book in about an hour, it is vey simplistic in the analisis and its conclusion or based on assumptions that can never be applied to hedge funds, specialy his survivorship analysis. I have read about 10 books in hedge funds, I find this the least helpful.
Only focuses on risk of returns and leverage.......2001-06-18
Only focuses on one aspect: risk computations and leverage This book is certainly not a handbook on how to buy a hedge fund. It spends a great deal of time discussing how to disect a fund's returns mathematically. It does a good job of explaining in simple English what is wrong with using standard deviations of returns in trying to determine a fund's risk. Unfortunately, that is not all that one should consider in evaluating a fund. It does not go into detail about looking at other funds a manager may have been involved with, comparing that fund's returns to other funds in its class. It does not talk about understanding how hedge funds determine their fees, how to watch out for fraud, how to evaluate a fund's accountants and lawyers and the relative importance of these factors. It does not spend much time on discussing the risks involved due to the fact that most funds limit when one can put in or take out money or that a fund may force you to take some of your investment back. It also does not discuss tax treatment. Many funds' earnings are reportable as regular income. This may be important. The bottom line is that you can find out about risk and volatility from a stat book. It is the other behind the scenes unformation that is also critical in choosing a hedge fund.
BEWARE!.......2000-07-02
I am highly skeptical of the data behind most of this book. The figures seem consistently wrong. I doubt a single set of data could give the #s shown in both Table 4.2 & Chart 4.5. I find it funny that in Charts 7.1 & 7.2, 2 managers have tremendously different gross returns, but seemingly the exact same set of monthly returns. Funny again, in Charts 8.1 & 8.2, "Best" & "Random" managers seem to have the exact same results. Are the errors in proof-reading, concept, or facts?
Good book with a very narrow focus.......2000-05-18
This book will be useful for the money manager interested in choosing among the growing universe of hedge funds. Despite some overmethodical and occasionally dubious measurement techniques (much is made of the mysterious-sounding "d ratio", which is simply the ratio of winning months to losing months), Lavinio does provide some useful tools for evaluating the past performance and future prospects of different hedge funds.
The only disappointment is that Lavinio tends to treat hedge funds as mysterious black boxes, scrutinizing their results without any real attention to their methods. The lay reader will probably find little to satisfy his/her curiosity.
Book Description
The new paradigm for investing and building wealth in the twenty-first century. The Future for Investors reveals new strategies that take advantage of the dramatic changes and opportunities that will appear in world markets.
Jeremy Siegel, one of the world’s top investing experts, has taken a long, hard, and in-depth look at the market and the stocks that investors should acquire to build long-term wealth. His surprising finding is that the new technologies, expanding industries, and fast-growing countries that stockholders relentlessly seek in the market often lead to poor returns. In fact, growth itself can be an investment trap, luring investors into overpriced stocks and overly competitive industries.
The Future for Investors shatters conventional wisdom and provides a framework for picking stocks that will be long-term winners. While technological innovation spurs economic growth, it has not been kind to investors. Instead, companies that have marketed tried-and-true products for decades in slow-growth or even declining industries have superior returns to firms that develop “the bold and the new.” Industry sectors many regard as dinosaurs—railroads and oil companies, for example—have actually beat the market.
Professor Siegel presents these strategies within the context of the coming shift in global economic power and the demographic age wave that will sweep the United States, Europe, and Japan. Contrary to the popular belief that these economic and demographic trends doom investors to poor returns, Professor Siegel explains the True New Economy and how to take advantage of the coming surge in invention, discovery, and economic growth.
The faster the world changes, the more important it is for investors to heed the lessons of the past and find the tried-and-true companies that can help you beat the market and prosper in the years ahead.
From the Hardcover edition.
Customer Reviews:
dividends resurface.......2007-01-27
The professor touts stocks and funds that feature dividends.Up until 1958 dividend income on stocks exceeded the interest income on long term bonds. For this reason it is difficult to assume that the good professors recommendation to go for dividend income is a prudent strategy when his data is biased by a condition that does not exist in today's market. I would prefer to use index funds that provide excellent diversification and insure that you are being compensated for the risks taken. To explore this strategy I can recommend a book titled How to Make Money in the Stock Market Buy 2500 different stocks Pay no commission. It takes off where this book ends.
Investing does not take a lot of work, in fact, the more you read of the wrong material of which there is an abundant supply, the more you will trade, and the less you will make in the market.
Active buying and selling of stocks by individuals will only run up brokerage commissions and waste your time and money. Turning your money over to a professionally managed mutual fund is even worse because of the fees you are required to pay well compensated `experts' to waste their time. This book shows you how to invest using index mutual funds and exchange-traded funds.
This book can be read and understood in 45 minutes to an hour.
The author follows the strategy promoted here. His portfolio contains over 8,200 different stocks and bonds all through index mutual funds and exchange traded funds. How to Make Money in the Stock Market-Buy 2,500 Different Stocks-Pay no Commission
Classic Siegel.......2007-01-17
For those who have read "Stocks for the Long Run", this is right up that same alley in terms of style and no-frills content, after all, it is written by a researcher. However, this is a great book with lots of wisdom to digest. Siegel discusses the "growth trap", a very counterintuitive point that everyone should be aware of....it alone makes the book worth reading. If you are a serious investor/advisor it is a must read. I would caution those who would take this book and start trying to manage a portfolio of all high dividend paying stocks...Siegel's conclusions are insightful, but the right application of them is still critical. See other reviews.
Fantastic.......2007-01-09
One of the most important books on investing that I have ever read. Based in fact, backed up with decades of research, this is a must read.
Good Book, Has Some Holes.......2006-09-19
The Future for Investors has some really great points - the main one being that the compounding power of reinvested dividends should be a significant consideration in stock selection. I agree with this approach, and Siegel makes some persuasive arguments that it provides higher returns and less volitility than other approaches.
However, I agree with some of the criticisms of the book as well:
1) Siegel does not address the tax impact on dividends. His research uses 1957 as a starting point. While our current dividend tax rate is 15% at the federal level, during most of the period from 1957 the rate was higher (sometimes the same as the income rate). During these times, the reinvested amount of the dividend would have only been about 60-70% of the total. Thus, returns would have been lower. (Some people have said that this would only make a marginal difference - maybe so, but it might have changed his argument in comparing Standard Oil to IBM as well as the small advantages he pointed out in some of his stock recomendations. A 1% per annum difference over a multi-decade period amounts to serious money).
2) Siegel cites Altria as the best performing stock during this period. I won't disagree with the conclusion, but I will point out that going for high dividends and reinvesting them works well only when the company survives. What if Beth Steel had been your choice rather than Altria? You would have received lots of dividends and reinvested them, but the ultimate outcome would have been a disaster. The point is that reinvesting dividends works especially well when the reinvestment happens during a difficult time for the stock AND (most importantly) the stock MUST recover from those difficult times. This is not generally the case, but it was with Altria.
3) Siegel's idea that the developed world will sell assets (stocks, bonds, etc) to the developing world to fund the huge retirement wave is full of problems. While the strategy will work to maintain the standard of living of the baby boomers, it will also permanently ruin the future for all subsequent generations of Americans. If you sell the assets (companies) that create your wealth in order to live a comfortable retirement (read consumption), you are giving away your ability to earn in the future. This is something Warren Buffett has been warning us about for a few years now. You cannot indefinitely fund consumption with income producing assets. When you decrease your income producing assets by selling for consumption, you increase your current standard of living at the expense of your future standard of living.
Criticisms aside, this is still a thought provoking book that is well written. Ironically, even though I think there are some questions about many parts of the book, I generally agree with the ultimate types of investments that Siegel recommends - just for different reasons.
Eye opener!.......2006-08-14
I have been an Investment Counselor for over 40 years. This book makes more common sense than any book I have read on the subject. My main regret is that is wasn't around earlier. It is the key to Wealth and Security.
Book Description
The Cashflow Quadrant is the follow-up guide to finding the financial fast track that best works for you. It reveals the strategies necessary for moving beyond just job security to greater financial security by generating wealth from four selective financial quadrants.
Download Description
'Rich Dad's CASHFLOW Quadrant' will reveal why some people work less, earn more, pay less in taxes, and feel more financially secure than others. It is simply a matter of knowing which quadrant to work from and when. Have you ever wondered . . .· What is the difference between an employee and a business owner? · Why do some investors make money with little risk while most other investors just break even? · Why do most employees go from job to job while others quit their jobs and go on to build business empires· Why, in the Industrial Age, did most parents want their children to become medical doctors, accountants, or attorneys . . . and why, in the Information Age, are these professions under financial attack? Have you noticed that many of the brightest graduates from our universities want to work for college dropouts . . . dropouts such as Bill Gates, Richard Branson, Michael Dell, and Ted Turner? Dropouts who today are the mega-rich of society. This book will answer some of these questions and also assist in guiding you to find your own path to financial freedom in a world of ever-increasing financial change. It is a book written for . . .· people who are ready to move beyond job security and begin to find their own world of financial freedom · people who are ready to make deep professional and financial changes in their lives· people who are ready to move from the Industrial Age to the Information Age It's time to get out of the rat race. 'Rich Dad's CASHFLOW Quadrant' shows you how.
Customer Reviews:
over charge.......2007-09-03
You over charge me! You charge my charge card twice!
Please fix this problem.
Thanks,
Steve O'Brien
I am currently following his advice.......2007-08-08
This book opened my eyes. It seems that everything he says is common sense, but the way he taught it really inspired me. After reading his book I decided to stop being an employee and move to the self-employed quadrant. I started my own corporation and I now have enough money to start investing in Real Estate following another of his books. I highly recommend this book to everybody.
Very Informative And A Highly Recommended Reading For EVERYONE.......2007-08-08
This one book from Robert T. Kiyosaki really opened my mind and eyes, I will have to read it again & yet again to really get a complete understanding of the Information he has in this book, And anyone that says reading it once is enough, READ It again and you will be surprised at what pops up out of the pages as do read this book. So If you are truely tired of the old RAT RACE and feel there is got to be a better way then read this book.
Uri Gofman's review of Cashflow Quadrant.......2007-07-30
this is one of the most significant books for any aspiring entrepreneur. a must have for anyone contemplating going into business for themselves.
Repetitious and boring.......2007-07-30
I found the same stuff repeating over and over again with nothing to say how actually to get money.
Amazon.com
Most of us have been conditioned to approach the stock market as a long-term proposition. Many of the bestselling investment books coach readers to seek value in the best companies for long periods of time. Day trading, a recent phenomenon brought on by the reform of the financial markets and by the growth of online trading, goes in just the opposite direction. Instead of buying and holding stocks for years, successful day traders make money by dipping in and out of the market in a matter of minutes, finding profit in the tiny fractions between the bid and asking price of a stock or by catching the ups and downs of stock prices, which are driven by everything including the latest news from CNBC or speculation on what Alan Greenspan ate for breakfast.
In The Electronic Day Trader, authors Marc Friedfertig and George West explain the rationale behind day trading and offer strategies that can help you become successful at this fast game of speculation and timing. The authors write, "Day trading appears so deceptively easy, yet in reality it is a never-ending challenge. It is a game, an opportunity to match wits against the majority and thereby prosper. Day trading the stock market is the ultimate opportunity to speculate and the ultimate game."
The book goes into great detail about how the various stock exchanges work and shows how to get direct access to the NASDAQ through various electronic trading systems. If you're looking for an investment book that will help you build a retirement portfolio, look elsewhere. But if the daily fluctuations in the price of a stock make your heart beat faster and if you're seriously interested in honing your skill as day trader or want to become one, The Electronic Day Trader is definitely worth a look. --Harry C. Edwards
Book Description
In 1998, McGraw-Hill’s The Electronic Day Trader became a worldwide phenomenon—and spent months on the Wall Street Journal, BusinessWeek, and New York Times bestseller lists. Now, this new paperback edition revisits the hardcover edition’s electronic day trading techniques and mechanics, and adds a new introduction discussing today’s evolving electronic day trading environment.
The Electronic Day Trader continues to give the reader a firsthand, no-holds-barred introduction to the world of electronic trading. The authors—accomplished veterans in this hot field—share trading philosophies and strategies that include:
• Workings of the various electronic order entry systems
• Effective trading techniques based on technical analysis
• All-important psychological aspects of day trading
Marc Friedfertig and George West (New York, NY) wrote Electronic Day Traders’ Secrets, and offer seminars on electronic day trading. Friedfertig is a registered principal for Broadway Trading. He formerly traded index futures with the New York Futures Exchange. West is the president of Broadway Consulting Group.
Customer Reviews:
Another book with old strategies, however...........2005-02-06
There are some good ideas that you can rescue from this book. Therefore I think you should buy it since you can make much more money and certainly recoup your small investment if you employ 2 o 3 good tips.
Any way, from my point of view a trader must always read as much as he can. There is simply no other way to prepare one self for this difficult yet incredibly rewarding activity, but to learn and put into practice as much ideas as you can, at least by paper trading first.
The are a lot of books on the subject, however many of them where written 2 o 4 years ago and that kind of makes them obsolete in this constantly changing field.
The internet offers great places where you can learn more specialized trading techniques. One of those places that I have found to be worthy is ProfitableStockmarket dotcom.
They focus mainly on momentum trading and employ a rather simple yet effective strategy. I think that for a trader to survive and be profitable, its neccessary to keep their trading as simple as possible. To much confussion and technical indicators will most of the time make you slow in your decisions and froze you up when a good opportunity is right in front of you.
In the end it's all about buying or selling with out hesitation, and doing it over an over again according to your set ups.
What became of Broadway Trading, LLC??.......2004-01-27
They went bankrupt, which is where you would be if you followed West and Friedfertig's methods. The book was a copy of Jack Schwager's Market Wizards series, due to the interviews conducted with "traders". You would be amazed if you saw some of these people and didnt read their words in print. Somehow they would not come off so sharp. Trust me!
Also do you think our authors would be able to spot "managerial talent" over a few aspiring proprietory traders? No they hire guys who have previously filed bankruptcy in their past and pipe up their accomplishments, which are a joke when you realized they bailed on creditors!!
Save yourself a dime and avoid it-if someone gives it to you, and you can't return it, use to start the BBQ grill. I could go on and on about SEC/NASD violation, getting short on a downtick, etc but I wont!
Obsolete.......2003-06-28
This book completely fails to realistically convey the relative risks and profit potential for the average wannabe day trader. Im talking about someone with less than a few thousand to play the market. Unless you have big bucks and Level II quotes forget day trading unless you are very lucky. In the trading parlance, I wish I had a short position on this book at its current price, and could cover my short at the current used price! Save your money.
good.......2001-07-11
good book , nice condition
essentially obsolete.......2001-05-07
This book is essentially obsolete just three years after its publication. Stocks are now traded in decimals, and the spreads on heavily traded stocks are now almost nonexistent, sometimes being less than one cent a share. Consequently, you can forget about any of the strategies or information regarding "pocketing the spread", "getting between the spread", etc. With the proliferation of ECN trading, the influence of the market makers in a stock has been markedly reduced. In a stock that trades 80 million shares per day, a market maker with a 100,000 share block is not going to be able to move the stock significantly, and ECN trading can overwhelm his influence. Likewise, information gleaned from the Level II screen, while still useful if one knows what to look for, is no longer the Holy Grail. Also, day trading firms, like the authors' "Broadway Trading" are on the way to extinction, now that some big online brokers offer direct-access trades for less than a quarter of what day trading firms charge, as well as offering free Level II quotes and other information not available to the day trading firms.
While the book contains a few nuggets of trading info, it was not written in a logical, easy to follow manner. As has always been the case, aspiring traders need to study the markets intensely and develop their own trading techniques; they cannot expect that any book will teach them how to be successful in a field where very few people ever succeed.
Amazon.com
Invoking the words and spirit of Thomas Paine, investor-turned-historian John Bogle concedes that his ideas for revamping the mutual-fund industry are perhaps "not yet sufficiently fashionable to procure them general favor." But despite likening the "ills and injustices suffered by mutual fund investors" to those "our forebears suffered under English tyranny," Bogle--founder of the Vanguard Group--makes a strong case for index funds with this exhaustive study of investing.
He begins with primer-like essays on investment strategy, championing mutual funds for their inherent investment value, and then grinding each point home with a bevy of graphs, charts, entertaining anecdotes, and common sense. He repeatedly stresses time as a basic tenet for investing, listing these simple rules: "Time is your friend"; "Impulse is your enemy"; "Stay the course." And then he proceeds to blast fund managers, who have become marketers rather than managers.
The trade-off between the profits that accrue to fund shareholders and the profits that accrue to the fund management companies seems subject to no effective independent watchdog or balance wheel, despite the fact that the shareholders actually own the mutual funds.
It's an interesting concept: smart, reasoned investors can all but secure their financial future, but the system itself, run unchecked by fund managers, needs a major overhaul. And considering the amount of reasoned, historically based support he includes, readers will have a hard time finding fault with the sometimes controversial Bogle. Equal parts instructional and crusade, Common Sense on Mutual Funds deserves the attention it's likely to receive. Recommended. --Rob McDonald
Book Description
Written by a leading thinker and visionary whose ideas and principles have been adopted by countless investors.
Customer Reviews:
This book did it for me........2007-10-04
Very detailed and informative book. I still read it from time to time to keep my investment perspective. It lead me to index investing a number of years ago, and I've never been sorry!
Excellent Complete Guide on Investments.......2007-09-27
This book reads like a college text (easier version from Bogle would be the little book of common sense investing) but it has all the information you will need to become a proficient investor of mutual funds. What impressed me the most was the use of data going back several hundred years for the case of asset allocation, the use of diversified equities, and cost containment.
Common Sense on Mutual Funds.......2007-08-26
Very good analysis of how mutual funds work and how difficult it is for a fund manager to provide the outstanding management necessary to beat the market average. But, it ignores the possibility of beating the market by using index funds and/or international funds to beat the US market, and by using the best funds available, regardless of the fund family.
I have read other books about investing in mutual funds that were much more help to me.
a must read for investors.......2007-03-22
This is by far the best investment book I have ever read. The analyses are brilliant,Mr. Bogle pulls back the curtain on the mutual fund industry.
A Really Good Book... It Will Change One's Perspective.......2007-02-15
This book is a great insight into one of the finest minds on wall street... except he has a heart. Unlike most people in the financial market who desire to separate ordinary people from their money, he strives to enlighten minds and illuminate the journey with sage insight. Proof? Simple, he was the founder of Vanguard Investment Company with the widest selection of LOW COST funds available. He is a fine gentleman in his personal life and an apostle in the world of investing for novice and experienced investors alike. I loved the book and have given several copies as gifts. I would rate it six stars if this was an option. P.S. If reading a book like this is holding you back, get the audio book and listen on the way to work. Makes it easy. :)
Product Description
Location, location, vocation: financial freedom through real estate, the Dolf de Roos way! Property Investors School (10 compact discs)
The professionally produced audio recordings of the acclaimed, live, two-day real estate mentoring program previously available to only 10 students a year! Guiding you through a complete overview of Dolf de Roos approach to the real estate investment process, the Property Investors School offers the complete curriculum for financial freedom, from purchase to profit! Course highlights:
Spotting property with a below-value twist
Property analysis for a personal fit
Staking your territory & where to search
Choosing a realtor
Lender approval for purchase price plus
No-fail mortgage application
Purchase & Sale clauses that work for you!
Offers with seller appeal
The Offer: yield a bit, or stand your ground?
Settlement & possession structure
Proposals for finance
Managing for profit
Ensuring that tradespeople do your jobs first
Commercial vs. residential property
Cutting non-performing tenants loose Real Estate Riches:
How to Become Rich Using Your Bankers Money (3 compact discs)
The author-approved abridged version of the New York Times and Wall Street Journal bestseller, now on audio CD. With a running time of approximately 3 hours, Real Estate Riches is the comprehensive, critically acclaimed audio reference providing field-tested techniques for creating wealth through property. Audio book highlights:
Why real estate is exponentially better than other investments
Finding the real estate Deal of the Decade every week!
Increasing property value with tiny expenditures
Employing tax law to subsidize your investment
Using your lenders money to create passive income for yourself DVD BONUS!
Discussions with Dolf
A unique digital video disc forum offering real-life answers to specific real estate queries posed by program participants around the globe, Discussions with Dolf provides continuing real estate education in an illuminating Q & A format.
60 MINUTES A promise for your financial future, from best-selling author and real estate expert Dolf de Roos:
You will learn both basic and advanced techniques, and many small, smart things that can increase your ability to select, negotiate, buy, finance, and manage properties to help you become prosperous through property investment. However, we also take the human element into account, so that you can become a powerful force to be reckoned with in property. Learn how to use leverage to develop a passive income so that you no longer have to work. Find out not only how to build wealth, but how to enjoy it as well. Make a date for financial independence by enrolling in Dolf de Roos Real Estate Investors College on audio compact disc. Let property investment guru Dolf de Roos demonstrate insider techniques and field-tested strategies designed to maximize property value for all levels of real estate investors, as he shows just how frequently unique opportunities present themselves to those in the know. The Property Investors School on 10 CDs provides a dynamic audio record of Dolfs mentoring sessions previously available only in-person, to only 10 students per year. Real Estate Riches on 3 CDs abridges the New York Times and Wall Street Journal print bestseller to create a portable audio compendium of how-to tips for creating property income. Finally, sit in on Discussions with Dolf, a DVD bonus comprising an international question-and-answer session featuring specific real estate queries from program participants. Covering everything from lenders to leases; tradespeople to tenants, Dolf de Roos Real Estate Investors College is your graduate course in financial security! Audio Success blurb
The Audio Success Series from TOPICS Entertainment is a premium audio line of personal productivity recordings
Customer Reviews:
Great motiviational CD with a little "how" sprinkled in.........2007-02-03
After having Dolf De Roos', "Real Estate Riches" recommended by a fellow Realtor, I stumbled upon Real Estate College. At first, I was worried about the high price tag, but I later found out that it was highlights from a seminar that De Roos personally conducted where students paid top dollar.
The negatives first:
1. Have patience while listening - There's a great deal of audience participation and testimonials you have to either fast-forward or torture yourself listening to it. While it may be a cultural difference, I perceive folks from New Zealand to speak VERY S-L-O-W-L-Y. At one point, I almost ripped my hair out everytime this investor named "Margaret" spoke.
2. No indexing - several of the CDs only have (2) chapters where if you lose your place during a break in listening, you have to fast-forward to where you left off.
3. Some laws & strategies do not apply in the United States and other countries or are outdated. Depending on the market, most sellers will not accept offers under some of the terms he recommends.
Things I liked:
1. The last 2-3 CD's - If you want a cliff's notes version or simply the highlights of the seminar, listen to the last CD's first. With these CD's, it is only Dolf talking and he goes moves very fast.
2. He justifies WHY you should be investing in Real Estate - he shows the most common techniques used to measure a traditional investment and how it's flawed to use the same techniques in Real Estate investing.
3. Use of Technology - Although I haven't bought his REAP software package, Dolf places a great deal of emphasis on NUMBERS -- not emotion. He even has a motto, "Don't fall in love with the property -- fall in love with THE DEAL!"
I'd recommend Real Estate College to anyone considering investing in Real Estate.
Books:
- The Irwin Handbook of Telecommunications Management
- The Last Tycoons: The Secret History of Lazard Frères & Co.
- The New Eighteenth-Century Style: Rediscovering a French Décor
- The New Home Buying Strategy: Solve Your Cash Crunch with Team Buying Power
- The New York Apartment Houses of Rosario Candela and James Carpenter
- The No Asshole Rule: Building a Civilized Workplace and Surviving One That Isn't
- The No Asshole Rule: Building a Civilized Workplace and Surviving One That Isn't
- The Pre-Foreclosure Property Investor's Kit: How to Make Money Buying Distressed Real Estate -- Before the Public Auction
- The Pre-Foreclosure Real Estate Handbook: Insider Secrets to Locating and Purchasing Pre-Foreclosed Properties in Any Market
- The Pre-Foreclosure Real Estate Handbook: Insider Secrets to Locating and Purchasing Pre-Foreclosed Properties in Any Market
Books Index
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