Reviews (8)

must buy
It's a must buy for people in high-yield/distressed analysis. I was suggested this book at my first day at work.

A Complete Introduction
The premise of this book is really quite simple.
Valuable insights, useful commentary, and professionally written.
Like many of us, perhaps you've owned some bonds that have fallen into junk status or worse, distress/bankruptcy.In most cases, did you throw up your arms either selling at a loss or confused by smallprint mail solicitations?Stephen Moyer is an absolute pro and de-mystifies what some may think of as a blackbox only understood by investment specialists, asset pirates, and/or bankruptcy lawyers.
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Subjects:  1. Bankruptcy    2. Business & Economics    3. Business / Economics / Finance    4. Business failures    5. Business/Economics    6. Corporate reorganizations    7. Economics - General    8. Finance    9. Investments & Securities - General    10. Law and legislation    11. United States    12. Finance & Accounting   

Reviews (53)

The Psychology of Hedge Fund Trading
After 30 years as an manager and researcher with Morgan Stanlety, and 3 or 4 years as a "hedgehog" (a hedge fund manager), Barton Biggs give us this entertaining memoir of his professional life. Mostly consists of chapters profiling leading investment figures under fictional names. Really interesting to see how even the hottest, smartest, and most driven investors come to grief on a consistent basis; that includes the author himself, who confesses here to some of his mistakes such as shorting oil when it kept going up. Lots of sleepless nights and anxiety in the business, although apparently even the no-talent hacks can make at least 150K a year, and many of the more talented are billionaires. Many of the hotshots in the professional investing world sound like narcissistic cranks in Biggs' description, but entertaining cranks to read about. Like Lefevre's classic REMINISCENCES OF A STOCK OPERATOR, this is mainly interesting for its insights into the psychology of trading.
They called him a guru because they couldn't spell charlatan
In this book, Mr. Biggs does not discuss the fact that before he left Morgan Stanley he was unmasked as having fabricated comments used in his research reports (claimed to be from his plumber, Ron Valentine) [see NYT, May 21, 2000, Sec 3, p2]. Readers and potential readers of Hedgehogging should, however, remember. It explains the view smart investors have had of Mr. Biggs for some time: he is mildly entertaining, but not someone you should use for serious advice. And above all: never give him any money.
Two quick points from this book to give a sample
One anecdote here involves "Michael," a pseudonym for an investor Mr. Biggs admired, and hired, while he (Biggs) was at Morgan Stanley.
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Subjects:  1. Business & Economics    2. Business / Economics / Finance    3. Business/Economics    4. Finance    5. Financial Markets    6. Hedge funds    7. Investment Analysis    8. Investments & Securities - Futures    9. Investments & Securities - General    10. Business & Economics / Investments & Securities    11. Investment & securities   

Reviews (26)

Great advice for business and for everyday life
My husband wants to start his own business.He has the skill to perform the service, but he has a mental block with getting started.This book is the ignition he needs.

Chuck Norris called this book PHENOMENAL...He's Right
One of the best books i've ever read.The author presents hundreds of Solomon's Proverbs covering 15 topics.The chapters on diligence, conflict and adversity, and partnering have been life-changing for me.And his chapter on deferred hope gives the most enlightening revelation on why relationships fall apart that I have ever heard.Thankfully he also shows Solomon's answers for restoring broken relationships.Reading the chapters on the booby traps to success and the number one cause of financial loss helped me to understand why some of my past efforts had failed so miserably.I only wish I had found this book 20 years ago.I too wish that Scott would have covered all 46 categories of Proverbs, but doing so would have probably resulted in a thousand page book.I'm a Christian, so I really loved his last chapter, but unlike the reviewer before me, Scott said right at the beginning of the book that the laws of life revealedin Proverbs can be used by Christian and non-Christian alike to achieve many of Solomon's promised outcomes.I 'll be giving out lots of copies of this book this Christmas.I can't think of a better gift to give to those I care about most.

NOT worth the money
"The Richest Man Who Ever Lived" by Steven K. Scott, I thought, would be a good buy.It was the farthest thing from a good buy.The premise of this book is imparting the wisdom of King Solomon to the masses by way of the Bible's book of Proverbs.That is at least how the book is marketed.Here are my problems with this book.First, there were plenty of good things in the book up to a point (page 244) when he states that he had divided up the book of Proverbs into 46 categories.And then proceeds to tell us that he has only presented 15 of these categories.In other words, he published an incomplete book.And it does little good to tell people, "think of the incredible insights that await you."Hey, Stevie Unwonder, I bought the book to get YOUR insights, not go through the thing myself.I probably should have done that to begin with, because I would have saved myself a lot of money.Second, he doesn't even use the Jewish bible, the Tanakh, for his source, but rather relies on the most perverted form of the Bible, the King James Version, not to mention other xian-dogma-infested version...Revised Standard, New American Standard, New International Version.NO!You MUST go to the original Hebrew for a correct understanding.And if you don't know Hebrew, the Orthodox Union publishes the entire Tanakh in Hebrew and English translation UNTOUCHED.These other so-called translations have had things altered that aren't in the original, so the sourcing isn't even correct.Third, he gets to the point where he says that the only way to honor G-d is by becoming a xian.In other words, he basically says that none of the things he has presented in his book will work unless you are a xian first.And then he gets to sounding like a crazed southern-baptist preacher during a summer-time tent revival.Talking about how Jesus said that, and how Jesus said this.I didn't buy the book to hear what Jesus said.I could care less what he supposedly said.I bought the book to read about Solomon.
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Subjects:  1. Bible - Study - Old Testament    2. Business & Economics    3. Business / Economics / Finance    4. Business Life - Inspirational    5. Finance    6. Personal Finance    7. Personal Finance - General    8. Personal Growth - Success    9. Personal Guidance    10. Psychological aspects    11. Self-actualization (Psychology)    12. Success    13. Wealth    14. Business & Economics / General   

Reviews (53)

Magical
FBP is an intriguing concept and the model can be scaled up or down in size in all parts of the world. The book serves as a wake up call to businessmen across the world.

its a perfect strategy for the 21st century: for all MNCs to follow
A new approach which in fact is so easy but psychologically so difficult to accept. We have tried it out and and observed companies doing it since 16 years: to design and market low end products for the "Bottom of the Pyramid" (BOP) with high profit margins at low cost. We have developed a tool which we call MMP or Multiple Market Positioning which shows step by step how to implement this BOP idea successfully. Regards, Dr. Peter Oertli, OEC Oertli Consulting, CH-8142 Uitikon-Zurich, Switzerland.

Reducing the Impoverished, One by One

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Subjects:  1. Business & Economics    2. Business / Economics / Finance    3. Business/Economics    4. Corporate Planning    5. Developing countries    6. Economic Theory    7. Finance    8. International business enterpr    9. International business enterprises    10. Investments & Securities - General    11. Non-governmental organizations    12. Poor    13. Social aspects    14. Business & Economics / Systems & Planning    15. Management & management techniques    16. Multinationals   

Reviews (12)

Great Fundamentals, needs more specificty
the direction the book takes you based on fundamentals of valuation is great. But it tends to be "vague" in some places. for example, it would say, "to calculate ROIC, you add up operating assets and subtract operating liabilities (accts payable, notes payable, etc)." it is the "etc's" that are annoying. Because as we all know, every financial statement, in this case, the balance sheets, all have different line items. So, the etc's point in the right direction but only help you out with direction but not specifics.

This is a review of only the CD - i.e., Excel model
Let me say that I like the McKinsey model and use it a lot to value certain companies.Overall, I found that the Results section of the model really helped me understand the detailed nuances of the McKinsey model, especially given that the book itself is sometimes vague.
Good Read
While I have only done a bit reading on this book, it is well written in the sense that it does not read like a textbook. The examples given are more interesting to read about and I highly recommend this book ... Read more

Subjects:  1. Business & Economics    2. Business / Economics / Finance    3. Business/Economics    4. Corporate Finance    5. Corporations    6. Finance    7. Handbooks, manuals, etc    8. Valuation    9. Budgeting & financial management    10. Business & Economics / Finance   

Editorial Review

If the prescriptions for getting rich that are outlined in books such as Read more

Reviews (279)

...like giving or getting Galileo's book on the solar system as a Christmas gift in 1632
My professional work involves evaluating money managers and trying to "understand" a manager's skill vs luck and where the manager might fit in an overall portfolio.So I have spent 30+ years slashing my way through the jungle made by academics who think they can put markets and reality into nice, predictable models; and worse, listening to the sales pitches of money managers and other financial salesmen who want you to believe they are predictably worth paying very high fees and subjecting your money to untold risks.
interesting but too long and arrogent
The author has some interesting things to say on randomness and probability and how it effects our day to day life. However what could have been an interesting long essay does not a book make! Furthermore he is really annoying in the way he makes snide and unjustified remarks about various people. For example - he may think Buffet is a lucky fool and he may be right (I do not understand the markets enough to judge this one). However he doesn't stop there. He goes on to attack Buffet for living a moderate life style (so what) and ends with musing if money isn't importent for Buffet why doesn't he become a monk or a social worker. Well this was before Buffet gave away most of his fortune and I hope Taleb is suitably shamed. I suspect this guy is fueled by envy and probably an inferiority complex (as he comes across as sooo superior).
Oh, what could have been
As someone with a taste for statistical theory, this one was disappointing.Taleb is constantly casting around for what exactly he wants to write about.Yes, he passably develops his theory that people read far too much into random events.He does this through a series of personal stories, which unto themselves are entertaining.But, it's never clear if he's writing an autobiography or discussing randomness and I came away from this book no more enlightened about randomness than I had been before.If you are a novice in the area and are looking for a light introduction on the subject, it's a good book.If you're already familiar with the concept of randomness, don't bother. ... Read more

Subjects:  1. Business & Economics    2. Business / Economics / Finance    3. Business/Economics    4. Chance    5. Economic Statistics    6. Finance    7. Free Will & Determinism    8. Investment Analysis    9. Investments    10. Investments & Securities - General    11. Random variables    12. Statistics    13. Business & Economics / Finance   

Reviews (8)

Almost everything I dislike in a textbook
This book has many characteristics that I really dislike to see in a textbook.
One of the better books available
This publication provides a thorough and comprehensive review of almost every important aspect of accounting, financial analytics and reporting. A useful tool for a person new to finance or someone needing a refresh or review of important topics. A solutions manual would have been helpful, but the book is a valuable buy nonetheless.

Very good for understanding the subject
The book provides very clear explanations about different aspects of financial statement analysis. The only drawbacks are that the book is a little simplistic and that problem solutions are sorely needed. However, I am sure you are not going to use oit for self-study- you would be using it as a textbook in a financial statement analysis class. The professor, would be able to provide you with solutions (as in my case- thanks Dr. Church!) and will also help you out with some of the tougher stuff. Whatever, the book does an excellent job in explaining the basic stuff- much better than the Sondhi book. ... Read more

Subjects:  1. Accounting    2. Accounting - General    3. Business & Economics    4. Business / Economics / Finance    5. Business/Economics    6. Case studies    7. Corporations    8. Finance    9. Financial statements    10. Business & Economics / Accounting / General    11. Financial reporting, financial statements   

Reviews (23)

Doesn't get better!
I have read many books on mortgages, at least the few I can find.This is VER VERY good.This is the 2nd good book in mortgage busines I have come across... the first was Idiot's Guide - Mortgage Broker Success... I now have to keep these two books.They serves as great reference

A Must Have!!
I am new to the mortage business and have pruchased several books on the industry.This book is by far, the BEST!It contains an amazing amount of information for those who are new to the industry.It supplies you with sample sheets of everything you will need and explains them in great detail.I cannot say enough about how valuable I feel this book has been to me!I highly recommend it to anyone new or unfamiliar with the mortgage industry!

Awesome Read
This was an awesome read.It isthe most imformative book that I have read in the loan origination field.I am utilizing this book as a masterguide in the training that I am now doing for my new loan officers and also as a refresfer course for those with experience in the mortgage loan origination business.After 22 years in the business, I have finallylocated the Holy Grail and will continue to employ its use from this day forward.If loan originators follow this lead, they will be well ahead of the curve, even in the uncertain days ahead in this industry.--
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Subjects:  1. Banks And Banking    2. Business & Economics    3. Business / Economics / Finance    4. Business/Economics    5. Mortgage brokers    6. Real Estate - Buying/Selling Homes    7. Real Estate - General    8. Real Estate - Sales    9. Real Estate Administration    10. United States    11. Business & Economics / Real Estate    12. Financial services industry   

Reviews (14)

A lot of nothing
This book has very little to teach you and it's virtually unreadable. Make sure you read one or two pages before you buy in case you are like me and you can't stand his style.

Great, but Swensen's New Book is Better
This book covers the HOW and WHY of diversification.While everyone claims to understand diversification, there have been few individuals or institutions that have actually applied the concepts as well as Swensen.
solid primer on institutional money management
Swenson's reputation was made by the investment results he has generated, which in turn are based on good insights and steely discipline in managing a portfolio.That said, he could have used an editor on this book.His prose style is almost a mockery of a business presentation - here's what he's going to say, he says it, and then a recap of what he said.Still, his style, with its absolute emphasis on clearly communicating to the reader, is a huge improvement over quasi-academic articles in the Journal of Finance.
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Subjects:  1. Business & Economics    2. Business / Economics / Finance    3. Business/Economics    4. Economics - Theory    5. Finance    6. Investments    7. Investments & Securities - General    8. Non-Profit Organizations Management    9. Nonprofit Organizations & Charities    10. Portfolio Management    11. Business & Economics / Economics / Theory    12. Economic theory & philosophy    13. Investment & securities   

Reviews (27)

A must for all traders!
Not knowing much about trading I bought the book. It equiped me with the basics like trading times all over the world, brief history of Foreign Exchange and so musch more. After studing the book, I was confident and ready to trade. There are many online clsses on FX trading, but the amazing thing about this book is how one can relate to it. No matter what your idea or statergy you follow, the answers are in this book.
Good when taken into context
I have had the pleasure of seeing Kathy Lien speak twice at Forex seminars.She is very intelligent and has a wonderful personality.You will find some interesting and informative content in this book that can be useful in your educational path in Forex. But it is important to keep in mind that the book is written not by a trading entrepreneur but by a representative of one of the largest Forex brokers.To become a successful trader it is essential to recognize the vast difference in agenda between winning traders and brokers.The entire industry is driven by brokers and almost all material available on learning to trade is tied directly or indirectly to the broker industry whose agenda is to teach trading strategies that make the most money for THEM. Because the industry is unregulated, brokers are able to get away with many less than ethical practices. For instance, it is ironic that another reader mentions how Kathy covers the subject of the "carry trade" in detail.The last time I spoke with FXCM I discovered to my shock that they had adopted the policy of charging a negative interest regardless of which direction one was trading which I believe should be criminal. But there is no regulating agency to prevent them from doing that. Neither the CFTC nor the NFA actually regulate the activity of Forex brokers. Some other brokers, refuse to publish their interest rates or display them in their trading platforms so they can change them behind the scenes every day according to what benefits them the most.You may notice that others have a negative interest that is twice as much as their positive interest. All of this is part of the overall objective to keep the majority of traders focused on day trading which makes the most money for brokers. Studying trading material published by brokers is like asking a casino owner how to gamble.Most of the trading "mentors" are also introducing brokers who make money when you trade. A word to the wise, is that if you intend to succeed in Forex trading consider looking to sources of information that are not tied to any broker such as other traders who have learned to master this arcane art.

Chiquito pero picoso
I was looking for a good forex book, and i got it,
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Subjects:  1. Business & Economics    2. Business / Economics / Finance    3. Business/Economics    4. Finance    5. Foreign Exchange    6. Foreign exchange futures    7. Foreign exchange market    8. Money & Monetary Policy    9. Speculation    10. Business & Economics / Finance    11. Monetary economics   

Reviews (24)

Leading edge finance - not for wimps!
Cochrane provides a detailed text at the leading edge of Finance.It is written in an informal manner from one who loves Finance, to others who love Finance.As such, it is not an introduction to the field or "Pop Finance for Dummies".That said, it can bring one with a strong background in math and moderate background in Finance to the leading empirical edge of Asset Pricing.Although written in a light manner, each chapter requires several readings to understand.Definitely not for wimps!

Too chatty for serious Scientists ??
The critic in this title was made by some reviewers below, andis the most dumb critic i have ever read.
A great book with some downsides
No doubt this is a great book and you can check that most finance departments adopted it as the main text for doctoral asset pricing course. Cochrane is one of the biggest names in finance academia.
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Subjects:  1. Business & Economics    2. Business / Economics / Finance    3. Business/Economics    4. Capital assets pricing model    5. Finance    6. Investments & Securities - General    7. Securities    8. Business & Economics / Finance    9. Economics    10. Investment & securities   

Subjects:  1. Business & Economics    2. Business / Economics / Finance    3. Business/Economics    4. Finance    5. Forecasting    6. Investments & Securities - Stocks    7. Reference - Almanacs/Yearbooks    8. Business & Economics / Finance    9. Stocks & shares   

Reviews (12)

Practical Guide to Making Money in Forex
I had been looking for a book with currency-specific technical analysis techniques that I could recommend to the many people who are looking for such information. There was a book by Cornelius Luca with a similar title that went out of print. Now used copies are selling for as much as $1700. This one is far better and more useful.
Great...with minor flaws
If you are already familiar with TA, then the strength of this book lay not in the standard discussion of patterns and indicators/oscillators. Instead, the main strength is to be found in the well-described trading setups that the author covers...setups that I have found to be quite profitable (when combined with proper risk-management, of course)
Read First - for beginners
This book covers the basics of FX market first, then going through each standard TA tools one by one, as on how they apply to FX.If you have read books on TA already, you may find it really basic, even it keeps using FX trades as examples.
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Subjects:  1. Business & Economics    2. Business / Economics / Finance    3. Business/Economics    4. Finance    5. Foreign Exchange    6. Foreign exchange futures    7. Foreign exchange market    8. Investments & Securities - General    9. Speculation    10. Business & Economics / Finance    11. Investment & securities    12. Monetary economics   

Reviews (29)

Engaging and Informative
In a series of 'interviews', the book talks about "macro" investing from the viewpoint of a few relatively well-known managers.The reader should essentially be ready to use the book as a framework for his or her own critical thinking on what the "next big thing(s)" could be in the investing realm.While the points made by the interviewees often jump out of the book, the format of the interview and presentation leaves an incomplete picture. Given that most questions asked to the different managers were similar, it would have served the reader much better if the book was organized thematically and not as a series of disjoint/stand-alone interviews (typically, that is a magazine format?).Other than that, the reader will be able to pick up some interesting observations on risk management, asset allocation, information gathering and analysis and behavioral aspects of trading.Overall, a decent addition to the library. The reader shouldn't expect any hand-holding, though.

Welcome addition to the literature
This book comes a welcomed addition to the burgeoning literature on hedge fund trading stratagems for the professional/informed layman. Each interview appears carefully selected to demonstrate the wide variety of professional backgrounds of the individuals working in the industry, as well as the ways in which each has attempted to add alpha to assets under management.
GREAT READ! modern day equivalent to "Market Wizards"
The book truly interviews the best out there!
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Subjects:  1. Business & Economics    2. Business / Economics / Finance    3. Finance    4. Hedge funds    5. International - General    6. Investment advisors    7. Investments & Securities - General    8. Mutual funds    9. Personal Finance    10. Personal Finance - Investing    11. Securities    12. Stocks    13. Business & Economics / Finance    14. Investment & securities   

Reviews (91)

Raving Fans: A revolutionary Approach To Customer Ser
I just read a few of the reviews for this book, Raving Fans that were less than satisfactory.I must say to those who thought after reading this book that it was pointless, simplistic to the point of insulting, disappointing, or over the top, that it's just that exact mentality the whole book is based on.I really hate to color one gender in this fashion but it unfortunately is true, usually it's a man who can't possibly see that the solutions to most customer service problems are just that simplistic.It may seem corny, over the top, or maybe simplistic but this book clearly addresses the problem with customer service today, in that no one cares or is brave enough to venture returning to true customer oriented values, or brave enough to be different.It's all about squeezing that dollar for more than what it's worth, instead of investing that dollar to develop long term loyal customers.Customers that will go out of their way to do business with a provider if the provider cares enough about them to listen to them and give above what they are expecting.I know what I am talking about, I am a customer, and at best I only occasionally see a flicker ofbarely satisfactory customer service actions with the business's I donate my dollars to, but for the most part my customer service experiences are definitely a "No-Customer-Service kinda Customer Service World". Not only am I a customer but I am a customer service provider as well.I have always performed my job with the Raving Fan mentality; I just didn't know what it was called.It's good to know that my work reputation is directly related to providing "Raving Fan" type Customer service.It's too bad that the majority of business's out there are managed by the mentality, that it's all about the dollar and the customer is privileged to have me as a provider.

To all the nay sayers.....
See ya, would hate to be your cio/ceo.It's just that simple.change is good, if you don't, bye.i extrapalated the simple concepts to help build the best suite of teams' of employees.Something like i have a vision for my team of managers, and part of that vision is what they need from me, they in turn need to develop their own vision of their team which includes what their team members need from them.By building that type of relationship/team, we can really provide an exceptional product.
raving fan
Raving fans is an excellent book for those that are trying to improve their businesses customer service and how the customer is viewed.Although at times it may seem over the top, from a cost analysis basis, even if a business cannot afford the costly improvements, focusing on low to little cost improvements can radically improve your business alone. ... Read more

Subjects:  1. Business & Economics    2. Business / Economics / Finance    3. Business/Economics    4. Customer Service    5. Customer services    6. Entrepreneurship    7. Finance    8. Management - General    9. Business & Economics / Management    10. Management & management techniques   

Reviews (1)

Oblivious to the reader
I am currently using this book for my Multinational Finance class.This book is not written with the student in mind.There are very few complete examples to learn from, and most of those are poorly worded.There is a lack of simplicity and elegance to all of the materials presented in this book.I think the writers forgot that students need to learn from this book.There are no study aids in this book, and the website for the book is sparse.You will not gain knowledge from this book, only confusion. ... Read more

Subjects:  1. Business & Economics    2. Business / Economics / Finance    3. Business/Economics    4. Finance    5. Foreign exchange    6. International - General    7. International business enterpr    8. International business enterprises    9. International finance    10. Business & Economics / Economics / International   

Editorial Review

On September 23, 1998, the boardroom of the New York Fed was a tense place. Around the table sat the heads of every major Wall Street bank, the chairman of the New York Stock Exchange, and representatives from numerous European banks, each of whom had been summoned to discuss a highly unusual prospect: rescuing what had, until then, been the envy of them all, the extraordinarily successful bond-trading firm of Long-Term Capital Management. Roger Lowenstein's Read more

Reviews (160)

Is Hollywood sleeping?
Disclaimer: this was the first-ever, and so far the only, "business novel" (as I call them), I have read. Hence my benchmark is not other books of the same genre, but literature in its broadest sense.