Book Description

The classic source for the technical analysis discipline now brings readers up to date in techniques and technology
Now, in this second edition of the classic text, expert Thomas Dorsey shows, step-by-step, how to create, maintain, and interpret your own point and figure charts. He explains how you can use your findings to track and forecast market prices and develop an overall investment strategy. Perhaps most importantly, he helps you develop confidence in the market and take decisive action at the appropriate time, rather than reacting after the fact. Dorsey also highlights new developments in the field and incorporates the use of recently developed software to track any market using point and figure methods. Written for both new and experienced P & F chartists, this updated edition of a technical analysis classic brings point and figure charting into the Internet age.
Thomas J. Dorsey (Richmond, VA) is President of Dorsey, Wright & Associates, a registered investment advisory firm that uses point and figure charting as its main source of technical analysis. ... Read more

Reviews (27)

A vital addition to your library.
Some people find a good thing early on and are smart enough to stick with it. I am not one of those people, but Tom Dorsey is. I've read about every TA book ever written, I've studied everything from stochastic to voodoo and back, and if someone asked me to recommend one single book for learning and successfully applying Technical Analysis in order to make money, it would be this book. The methods described are powerful yet simple, (which usually is the best), concise, (no filler), and include a strategy for any plan to make money in the market and avoid giving it all back.

From the overall concepts of Point and Figure Charting to the specific rules for managing your trades, your portfolio, and your money, you'll be happy you took the time learn what Tom Dorsey has shared about those little Xs and Os.

Too Hard to Read, Concepts Available Elsewhere
Mr. Dorsey is a talented financial analyst and amateur weightlifter when he was younger BUT, he is not a good writer (this has been confirmed in my personal correspondence with Mr. Dorsey) and this book cries out for thorough editing. One can learn Point and Figure charting for free at the dorseywright dot com web site (just look for the point n figure university link at the bottom of the home page). Dorsey knows his stuff but the more easily bored one is, the more one will find this book aimless and boring. Point and Figure is superior to bar and candlestick charts because it records meaningful market movement while ignoring the small stuff. Another Point and Figure book, published in the 1930s by de Viller (?), is also very hard to read and not worthy of buying. Let's hope Mr Dorsey, a great guy and always terrific on CNBC, will get this book re-edited and whittled down to about 175 pages. Learn it for free at his website and order "Chart Reading Made Easy" by John Murphy to quickly and economically learn technical analysis.

Dow's Theory Rightly Attributed to Charles Dow
"indeed, Dow Theory, while credited to Charles Dow, was actually first put together by S.A. Nelson in the book The ABCs of Stock Speculation."

This reviewer's comment above is a bit misleading. The Dow Theory, as explicated in chapter's IV thru XX of Nelson's book, are actually abridged editorials written by Charles Dow (that orignally appeared between Dec 14, 1900 and July 31, 1902). Nelson in his book accurately attributes Dow Theory to Charles Dow, who was editor of the Wall St. Journal at the time.

Nelson's contribution to Dow Theory was the act of compiling Dow's editorials; William Hamilton (Stock Market Barometer, 1922) and Robert Rhea (The Dow Theory, 1932) were so impressed by Dow's ideas about how markets work that they were keenly interested in documenting his ideas in print, as well as extending those ideas.

Provides a Solid Market Snapshot
One of the toughest jobs every trader faces is accurately identifying solid support and resistance. This book clearly solves the problem of identifying reliable buy and sell signals that represent the big picture of longer term trend rather than short term noise.

one of the best books available on top down investing
This is first and foremost a specific methodology for a top-down approach. This is a style of investing where you look first at the market, then the sector, and finally the stock itself. This answers the question of when to buy, whereas fundamental analysis answers the question of what to buy.

It's true that much of this information is available elsewhere, a good deal of it on the dorseywright web page, but not all of it. This book is a great book for putting the pieces together in a sensible way.

This is a book for longer term investors, not day traders or swing traders who like to be in and out of a stock in a few days or a week.

This book goes very well with Pring's how to select stocks using technical analysis; this method is easier to use, and more sensible in my opinion, but elements of both fit very well together.

Note: This book has nothing to do with dow theory, which is concerned with identifying the primary trend of the market as represented by the DJIA. In this theory, the DJTA is used for confirmation. This has nothing to do with point & figure charting; indeed, Dow Theory, while credited to Charles Dow, was actually first put together by S.A. Nelson in the book The ABCs of Stock Speculation. Robert Rhea and William Hamilton further refined the theory. ... Read more

Book Description

Recently, reorganizations, restructurings, and bankruptcies have replaced IPOs as the common financial vehicle of the times. However, these distressed companies can still provide an avenue for profitable investing. This eagerly anticipated new reference helps guide you through this treacherous landscape in order to master the multi-move chess-like strategies required to achieve financially advantageous results for your portfolio. It is the most up-to-date and comprehensive book on the market to deal with the myriad of issues surrounding a distressed company.

Providing theoretical and practical insight, Distressed Debt Analysis: Strategies for Speculative Investors presents a conceptual, but not overly technical, outline of the financial and bankruptcy law context in which restructurings take place. The book covers the broader financial environment of the reorganization and the basic process of investment analysis and investment strategies. The author uses numerous real-world examples and case studies to emphasize important concepts and critical issues.

The developments that have created these extraordinary investment opportunities have also created tremendous demand for professionals with experience and knowledge in the restructuring process. Distressed Debt Analysis: Strategies for Speculative Investors addresses the complete knowledge needs of investors and professionals in the burgeoning world of financially distressed companies. It is perfect for bankruptcy departments of law firms, restructuring advisory groups, turnaround consulting firms, and reorganization and distressed securities departments of investment banks. ... Read more

Book Description

Use a 5-Step Process to Transform Your Business--and Your Life! If you've ever yearned for a business that would energize rather than drain you, if you've ever known and admired someone who made financial services look easy and fun, then you're ready to learn a new way to market. A way that doesn't require so much of your time and energy. A way that requires less effort. Effort-Less Marketing is based on author Steve Moeller's extensive research and refinement of the best strategies to build a financial advisory practice, as well as key marketing principles that work just as well for financial advisors as they do for such customer-savvy giants as Saturn and Nike. You'll toss aside conventional, exhausting sales techniques for a newer, easier way. With these 5 steps, you'll take the guesswork out of reaching the wealthiest and most enjoyable clients, make referral-gathering a no-brainer, and completely revitalize your business. ... Read more

Reviews (36)

Essential Material for the Client-centered Financial Advisor
I have read this book several times, attended the personal coaching sessions, and have applied the principles prescribed in this book to become a "client-centered" financial advisor. Steve gathers material and ideas from some of the best minds in the financial services industry and combines them with his own original marketing concepts to deliver the premier book for financial advisors dedicated to long-term success in the business. Application of the ideas in this book will propel you to become a vision vanguard for a higher level of performance and vision. The book is a complete guide from beginning to end on how to set yourself apart from the old way of transaction-based relationships to the more client-centered fee-based relationships, which is a long-term "win, win" situation. Buy it, read it, and apply it, you won't regret it.

A "How To" book for financial advisors
Steve Moellers book provides a template for financial advisors to follow if they are serious about growing their business. Although advisors may benefit more by hiring Mr. Moeller as a consultant, this book is an excellent resource for the "do-it-yourself'er" or the advisor that simply wants to focus on specific elements of business improvement i.e. image, publicity, marketing etc.

Especially valuable for those advisors who focus on "the sale", and neglect the 4 critical steps that lead up to that event.

I will continue to use the book as a reference in my annual business planning process.

Mark Garrod The Practical Investor, LLC mgarrod@sigmarep.com

Whatever your profession, you should read this book!
Moeller makes a persuasive case for a client-centered marketing approach. Seemlessly weaving the theoretical with the practical, he provides concrete examples of how to cultivate the relationships necessary for a thriving, client-centered business. Although written for financial advisors, this book's principles apply to any profession in which success demands a strong client relationship. I am an attorney (and not a financial advisor). Nevertheless, client-centered marketing is crucial to my practice. I recommend this book to all professionals.

The Best Financial Marketing Book Ever Written.
Effort-Less Marketing for Financial Advisor by Steve Moeller is simply the most powerful material ever presented on marketing the Number One investment service that wealthy clients seek more than anything else - a relationship with a trusted advisor. Advisors that learn and practice Steve's methods for developing a vision of success, identifying ideal target markets and positioning to attract the most desirable clients in their area will be stunned at their effectiveness. Beyond that they will love the enjoyment and satisfaction that it will bring to their personal and professional life.

As a consultant, I have used the power of Steve's approach with many financial advisors and asset management firms across the country. It works incredibly well for both. The reason is simple; it is built on sound, fundamental marketing principles that have worked for major business around the world for years. The secret of Effort-Less Marketing is that Steve has, in his 15 plus years of experience in financial service marketing, refined and tailored these principles to meet some of the unique needs of financial service professionals.

I have personally worked with and observed many individual advisors that have seen their business skyrocket using Steve's concepts. I have also used this material to help nationally marketed asset management firms significantly ramp up distribution as well as the value of their firm.

Following the processes in Effort-Less Marketing is also "effortless" because Steve encourages and lays out specific methodologies for any advisor to build a business based on their own personal passions and their ideal clients. The book provides a truly holistic approach for financial advisors that want to build a highly profitable business that also supports their own values, lifestyle and personal pursuits. What could be better?

Steve's program is easy to understand and simple to individualize. He is one of the most organized people I have ever met. The book reflects this. Steve clearly understands the importance of systems for financial advisors and the power that results from successful implementation of approaches that work. This book will help any advisor bring clarity and organization into one of the most difficult but highest payoff areas of their business - marketing.

Effort-Less Marketing contains stories, forms and assignments that can assure any advisor of making substantial strides in their business. The support doesn't stop here. Steve's company, American Business Visions has other services and product that can support the growth of most advisors. They are the cutting edge of financial marketing. And, if you want to undergo a truly life changing experience, I strongly recommend that you look into the Effort-Less Marketing coaching program offered by Steve's company. It is a phenomenal experience. It will help you take all the information available in the book and launch your business to places and levels you never dreamed of. I know because I recently decided to re-enter that retail market place so I enrolled in the program myself.

My only caution is that if you like ruts, grinding out cold calls and hanging out in a stiff, stoic environment that is chaotic, causes stress, and gives you little satisfaction, you may want to skip this book. I personally know several advisors that are having more fun in their business and life than they could have ever imagined. Their clients are ecstatic with the service they receive and credit their advisors with help them enjoying their money more and pursue their dreams. The process can be addicting. We don't want too many happy advisors running around out there. It could ruin the public's image of financial advisors and undo the tradition of "sell product, sell product, sell product" that has been a hallmark of the financial industry.

This is THE marketing book for financial advisors.
Steve Moeller has one of the brighest marketing minds in the financial services industry today. If you are a financial advisor and want to improve the quality of the relationships you have with your clients, and create a wonderful life for yourself - this is the book to buy, read, and study. Better yet, enroll in his coaching course. Steve's ideas and strategies can change your life for the better! ... Read more

Book Description

The incredible national bestseller that is changing people's lives -- and increasing their net worth!

CAN YOU SPOT THE MILLIONAIRE NEXT DOOR?

Who are the rich in this country?
What do they do?
Where do they shop?
What do they drive?
How do they invest?
Where did their ancestors come from?
How did they get rich?
Can I ever become one of them?

Get the answers in The Millionaire Next Door, the never-before-told story about wealth in America. You'll be surprised at what you find out....

Reviews (560)

Nice work, but let's hear more...
I firmly believe in the principles, having seen it work for several people including my Dad. I live in an area that is like a case study for the book.

However, like other reviewers, I feel it would have been nice for the authors to tell us how these folks balance their lives. Although the (car) price per pound thing is factual, I doubt any of the millionaires ever thought or care about this piece of trivia.

I understand not overspending on a car, suit, watch, etc. But what is the best vacation they ever took? Not spent the most - but the best. What is the most expensive gift they bought their wife on an anniversary? What kind of mutual funds did they pick?

They spend several hours each month addressing their finances. What are they doing? Do they regularly assess the performance of their stocks, or ???

Did any of them not figure out the MND formula until their late 30's, or do you have to be like this from birth in order to make it into the club? In other words, what makes them tick, not just the statistics

A Change of Perception
This book is from research done in the 90s concerning millionaires in the United States. Using surveys, interviews, and tax information, this book draws a picture of the millionaire. The picture will likely not match your idea.

Does having the statistical picture of a millionaire help? After reading this book, I am inclined to say "yes." Seeing fancy clothes, expansive homes, and expensive cars reminded me of wealth. As pointed out, the average millionaire is not concerned with the appearance of wealth. For some reason, knowing that I don't have to look wealthy calms me and encourages me.

One concept that will stay with me is the necessity of offense and defense to attain wealth. The authors point out that merely earning lots of money (offense) will not always help. Just as in sports, you need to play good defense to win. Here, the author's point out that you need to control your spending and debt if you want to reach wealth.

This book was recommended in "The Cashflow Quadrant" book (of the Rich Dad, Poor Dad series). I would also recommend this. Although the tables will sometimes be distracting, there is some good information here.

Very good book--A classic that still rocks!
With great authors like Dave Bach who has written an excellent book "The Automatic Millionaire", sometimes classics like The Millionaire Next Door get shoved aside and forgotten. The Millionaire Next Door should be read in addition to The Automatic Millionaire. I also recommend More Wealth Without Risk by the late, great Charles Givens.

The Millionaire Next Door shows how the wealthy became wealthy. It wasn't due to luck, politics, inheriting a fortune or help from the government. It was by developing and applying a few simple disciplines. This book will show you how too.

Frugality, Frugality, Frugality, Frugality
I am continually amazed when people think that all of their money problems will be solved with more money. But when they get that "more money" what do they do with it? They spend it! Or as they say; "I spend my money on my lifestyle!" And these are the people who are behind on their car note, still paying rent and have credit card debt up the cazoo. And they are probably the same people giving this great book 1 stars.

Get a clue! If you keep spending all of your money on your lifestyle, guess what? You'll always have to. And you'll always be broke as well.

Surprise, surprise...
Many years ago I talked to some friends about how it would be sort of cool to be really rich, and then not to show it. To live a life just like normal people with normal homes and cars.

Little did I know that this is not the exception, but the rule! This is how millionaires become millionaires! The ones we *think* are rich, the "rich and beautiful" with flashy life styles mostly have big financial trouble, because they live above their means...

Learn how anybody can become rich. It is not easy, because it takes one hard thing: patience. But that is all. ... Read more

Book Description

An essential guide to financial risk management and the best way to ace the GARP FRM(r) Exam
The Financial Risk Management Exam (FRM Exam) is given by the Global Association of Risk Professionals (GARP) annually in November for risk professionals who want to earn FRM certification. Written with the full support of GARP and providing questions and solutions from previous exams, this is the definitive guide for those preparing to take the FRM Exam as well as a valued working reference for risk professionals.
Phillipe Jorion, PhD, MBA (Irvine, CA), is a Professor of Finance at the Graduate School of Management at UC Irvine. The Global Association of Risk Professionals (GARP) oversees the FRM(r) Certification Program and is the leading association for risk professionals, with over 38,000 members worldwide. ... Read more

Reviews (1)

Not required for the FRM
Warning: This book is not an official publication of GARP. It is not required reading for the FRM exam. If you had the impression that it was these things, blame marketing.

In years past, GARP did officially endorse the book. This had two unfortunate consequences. First, the publisher and author could charge an exorbitant price -- $150 for a paperback. Second, they didn't focus a whole lot on quality. People had to buy it! The book reads like warmed over lecture notes. It is disjointed, vague, incomplete and sprinkled with errors. It is probably the one aspect of the FRM exam that people complained most about. Eventually GARP distanced itself from the venture. People were a bit surprised when this third edition came out. I guess students will mistakenly think they are required to buy it.

If you are studying for the FRM exam, the only thing you need to buy is the CD of readings. There are numerous books, articles and websites you can read for supplementary material. Many of these are outstanding. If you have been involved with risk management for a few years, you already know what they are. This book covers the same ground as the CD. If it were reasonably priced, if it were well written, it might also be a nice supplement. It isn't.
... Read more

Book Description

Praise for Enterprise Risk Management

"In the aftermath of Enron, WorldCom, and Sarbanes-Oxley, every publicly traded company should be concerned about risk management. This book takes a pragmatic approach to risk management that can benefit any CEO or senior executive. Lam lays out clear strategies to address what is often a highly complex issue."
–William L. Walton, Chairman and CEO, Allied Capital Corporation

"James Lam provides one of the most practical, insightful books on risk management that I have read in the last thirty years. It clearly reflects experience and deep understanding of the art as well as the science in risk management practices. A must-read for all who wish to advance risk management practices in their businesses."
–Sandra Jansky, Executive Vice President, Chief Credit Officer, SunTrust Banks, Inc.
Chairperson, Risk Management Association

"In this book, James Lam has provided an effective overview of business risk. Enterprise Risk Management will be useful to professional risk managers and business executives seeking to understand the latest tools and organizational approaches."
–Robert Simons, Charles M. Williams Professor of Business Administration,
Unit Head–Accounting & Control, Harvard Business School

"The most comprehensive and engaging handbook on enterprise risk management, written by the pioneer of the Chief Risk Officer function. Filled with practical examples and lessons learned, this book is destined to become one of the most widely read primers on today’s top business initiative. James Lam is the authority on enterprise risk management, and I highly recommend this book to all board directors, senior executives, and risk managers."
–Cassandra R. Schultz, Vice President and Chief Risk Officer, KeySpan Corporation

"James Lam’s book Enterprise Risk Management: From Incentives to Controls provides an insightful road map to best practices in risk management. Based on a solid and successful career in risk management, James’s advice is both timely and relevant and should be required reading for all risk management professionals."
–Michael J. Litwin, Chief Credit and Risk Officer, Merrill Lynch Capital ... Read more

Reviews (4)

The book for ALL CROs and CFOs
Thank you for writing this book. This book is must read for all CROs and CFOs. Looking forward to reading your coming Risk Management books.

Critical but Easy to Read and Comprehend
Anyone whose career interests intersect with the risk management discipline will find this book extremely valuable in understanding the risk management discipline and viewpoint. Anyone who is considering a career in risk management will find this book a critical help for success. James Lam writes in an easy to read style and the ease with which one can grasp and understand the material might fool one into under estimating the rigor and logic James has built into his work. I recommend this book without reservation.

Edward P. Paules, Managing Director Risk Management
Investors Bank & Trust
Boston, MA 02116

ERM Made Practical and Executable
James Lam, the founder of ERisk and the pioneer for the chief risk officer concept has penned the best and most comprehensive book yet on enterprise risk management and how this emerging business practice can add practical, measurable value to any business concerned about how risks affect performance and stakeholder value.

For the first time, a true ERM expert has articulated in user friendly terms, what ERM is and how it can be applied to many different business types in many industries. This book makes clear that there is no one way to design and ERM model and that customizing it to the needs of the business will be the one way to optimize the outcomes desired.

The book is well organized and starts with a section on setting the "context" for delving into risk management; outlining the framework of a comprehensive approach; showing real world applications in various industry contexts; and closing with some prognostications on the future of the practice.

I highly recommend this book to all business managers who want to take risk management and their careers to the next level.

Enterprise Risk Management: From Incentives to Controls
Excellent resource on Enterprise Risk Management.

The author draws upon his 20 years' rich real world experience to drive the subject to home. It offers valuable insight, which is rare to find elsewhere. This book is not only up to date and comprehensive, but also particularly practical.

As a risk analyst with more than 6 years experience, I highly recommend this book to those who are in this field and to those who have interests in this field. ... Read more

Book Description

International Financial Management, 7e combines a strong foundation in international finance theory with current, practical applications.It provides thorough, up-to-date treatment of cutting-edge international finance issues along with traditional treatment of international financial management. This book is known for its readability and clear explanation as well as its extensive use of hands-on, real world applications and student-oriented pedagogy. ... Read more

Reviews (2)

Excellent for International Business!
The book was one of the best books I used throughtout my career, it's good for economist, finance people, and anybody who is in the international field in general.

A good study guide
This is a good study guide accompanied to the hardcopy of thetextbook Each chapter begins with specific objectives and an chapteroutline. Then all the definitiional, true and false and MC questions with easy access answers are presented. Readers can therefore quickly identify topics that are unfamilar to them and refer to the textbook for going into details.

Good for both students and busy professionals. END ... Read more

Book Description

Designed for courses in corporate finance, this text is a detailed description of the valuation process, providing an integrated, comprehensive method for valuing assets, firms, and securities across a wide variety of industries.The presentation begins with a review of financial and accounting techniques, proceeds with a presentation of the valuation process, leading towards the development of pro-forma financial statements and the translation of these projections into values.A key strength of this text is teaching students how to use pro forma financial statements as a basis for valuation. ... Read more

Reviews (10)

Clear, Succinct, Excellent !
This is one of the best practical corporate finance books you can find. It serves especially well as a bridge between introductory finance and more advanced topics. The authors did an excellent job at hammering some most important concepts into readers' heads while avoiding too much theoretical complications that hinter understanding. The step-by-step valuation method is especially valuable. The use of the spreadsheet is enormously helpful for students of finance. Highly recommended! I hope Professor Benninga and Professor Sarig can keep producing this kind of hands-on, clear guide to finance. (and maybe a series of books at different difficulty levels)

A Good Summary of techniques used to valuate corporations.
This is a very good book for starters in Corporate Finance. People interested in understanding company valuations should definitely read this. Nevertheless, do take the contents with a certain grain of salt. Finance is a very subjective field, and numbers are ALWAYS subject to interpretation. Experts in the field might find themselves not agreeing with some of the methods employed. Finally, readers should have a good background in Accounting. It is also recommended that you have a computer running MS Excel and that you are familiar with the program.

Ground Up Valuation Techniques
If you are new to corporate finance valuation this book will take you to the next level. Provides step by step instruction on how to value companies. Covers Excel techniques with easy to follow examples. Covers 1 full semester at most business schools.

An ideal introduction to company valuation
This book offers a very simple introduction to evaluation of companies prior to investing. The DCF method is primarily used. There is a common thread running through the chapters which makes the book easy to understand. Its not verbose, which adds to its attractiveness. But, the readers should remember that this is only an introduction, and some other advanced book like Copeland's is needed to build upon the ideas presented in the book.

A Solid Introductory Valuation Text
This book does a good job of logically explaining the step-by-step method of corporate valuation. Benninga and Sarig do a good job of focusing on the practical tools of finance. I only wish the DCF examples were less simplistic. A substantial amount of additional work is needed to apply these models to real world firms. ... Read more

Amazon.com

What do you do after you've written the No. 1 bestseller The Millionaire Next Door? Survey 1,371 more millionaires and write The Millionaire Mind. Dr. Stanley's extremely timely tome is a mixture of entertaining elements. It resembles Regis Philbin's hit show (and CD-ROM game) Who Wants to Be a Millionaire, only you have to pose real-life questions, instead of quizzing about trivia. Are you a gambling, divorce-prone, conspicuously consuming "Income-Statement Affluent" Jacuzzi fool soon to be parted from his or her money, or a frugal, loyal, resole your shoes and buy your own groceries type like one of Stanley's "Balance-Sheet Affluent" millionaires? "Cheap dates," millionaires are 4.9 times likelier to play with their grandkids than shop at Brooks Brothers. "If you asked the average American what it takes to be a millionaire," he writes, "they'd probably cite a number of predictable factors: inheritance, luck, stock market investments.... Topping his list would be a high IQ, high SAT scores and gradepoint average, along with attendance at a top college." No way, says Stanley, backing it up with data he compiled with help from the University of Georgia and Harvard geodemographer Jon Robbin. Robbin may wish he'd majored in socializing at L.S.U., instead, because the numbers show the average millionaire had a lowly 2.92 GPA, SAT scores between 1100 and 1190, and teachers who told them they were mediocre students but personable people. "Discipline 101 and Tenacity 102" made them rich. Stanley got straight C's in English and writing, but he had money-minded drive. He urges you to pattern your life according to Yale professor Robert Sternberg's Successful Intelligence, because Stanley's statistics bear out Sternberg's theories on what makes minds succeed--and it ain't IQ.

Besides offering insights into millionaires' pinchpenny ways, pleasing quips ("big brain, no bucks"), and 46 statistical charts with catchy titles, Stanley's book booms with human-potential pep talk and bristles with anecdotes--for example, about a bus driver who made $3 million, a doctor (reporting that his training gave him zero people skills) who lost $1.5 million, and a loser scholar in the bottom 10 percent on six GRE tests who grew up to be Martin Luther King Jr. Read it and you'll feel like a million bucks. --Tim Appelo ... Read more

Reviews (148)

The Millionaire Mind - Must Read for College Students
Thomas J. Stanley's The Millionaire Mind (Andrews McMeel Publishing) is a must read for anyone interested in achieving financial independence and/or who is fascinated with how the wealthy achieve success. This book should be required reading for college students. It is filled with practical advice not just about how to protect one's future financially but also about setting priorities, and I don't mean just getting rich. The Millionaire Mind covers everything from choosing spouses to raising children to buying homes. It is loaded with common sense and practical advice.

Achieving great wealth was never my highest priority in life, but I am convinced that if I had read The Millionaire Mind when I was younger, I could have joined the millionaire club. More importantly, like most of the millionaires Stanley surveyed, I could have done so without sacrificing any values, principles, my character, or time with my family. The Millionaire Mind is as much a statement of a philosophy of life as it is a guide to great wealth. Its tone is very positive and reinforcing.

The Millionaire Mind dispels several popular myths about wealthy people--that they made their money the old fashioned way by inheriting a bundle, that they graduated from the finest colleges and universities, and that they blew the lid off of SATs and grade point averages. Most of the 733 millionaires Dr. Stanley studied did not fit any of these characteristics. When asked what factors were most important to their success, the top five rated items (out of 30) were #1 being honest with all people, #1(tie) being well disciplined, #3 getting along with people, #4 having a supportive spouse, and #5 working harder than most people. "Graduating near/at the top of my class" was ranked 30th. This list, better than anything else in the book, is a confirmation that character and commitment count and that measures of achievement need to be broadened.

How encouraging it is to read a book that says that the American dream still exists, that individuals can overcome inadequacies, disappointments, failures, and seemingly insurmountable odds to achieve success and happiness in life. And it can be done ethically, legally, and in one generation, during one's lifetime, as many of Stanley's millionaires have proven. Stanley and his millionaires are telling us to count our blessings, play to our strengths, believe in ourselves, not let our critics get us down, and take personal responsibility for our lives. His millionaires have been married to the same spouse for an average of 28 years. The majority live modestly for their means, spend considerable time their families, and don't flaunt their wealth. What a potent message this book delivers.

I will make sure each of my children gets a copy of The Millionaire Mind and recommend it highly to my classes at The University of Georgia.

Dr. Fred Stephenson Associate Professor of Distribution Terry College of Business The University of Georgia March 12, 2000

Finally, a Tribute to the "Leisure Class"
Ever since Thorstein Veblen wrote "The Theory of the Leisure Class," the critics of capitalism (including politicians and Hollywood producers)have delighted in bashing the rich for their "conspicuous consumption," prospensity to divorce and find trophy wives, engage in white-collar crime, and avoid paying their "fair share" in taxes.

Now along comes the exhaustive work of Professor Tom Stanley, concluding that the millionaire wealthy class is in reality the model citizen! 92% are married and have been with their first wife for an average 28 years; they live well below their means; 40% have paid off their mortgage; few inherited wealth; over 90% are college graduates; most are not in the top of their class, but average "B" or "C" students; they avoid the lottery and gambling, and enjoy spending most of their time with their family or playing a game of golf with friends; 37% are deeply religious people who attend church regularly; integrity in business is their # priority, and they pay most of the income taxes in this country!

It's great to finally read a book defending the wealthy and the truly successful in this country.

My only gripe: The book has no index!

A look into the millionaire mind
Who wants to b ecome a millionaire? No, this is not a plug to watch reruns of Regis Philipins tv show or a get rich scheme or a suggestion to buy a lottery ticket. Rather, it is an opportunity to look inside the minds of America's wealthy--real true blood millionaires.

You will find some things that you don't want to hear like the richest of the group are no physicians, lawyers or executives but business owners. You will also be surprised to find that the wealthiest of the group do not own new home The majority own homes that are over 10 years old.

This book may not tell you what you want to hear, but it will tell you what you need to hear, if you want to seriously become a millionaire and if you want to know how the millionaires became millionaires.

Great book. Even better than The Millionaire Next Door in my opinion.

Are you allowed to do this?
Hmm....I guess you can technically take the same material, rearrange it and then publish it with another title if you really want to but I kind of thought that was looked down upon in the literary world! This is a 10 star book only they wrote it already and it was titled The Millionaire Next Door. This is literally and I mean LITERALLY the same exact book only rewritten, rearranged, retitled and republished. It really doesn't matter which of the books you read. Either will do. Both are 10 stars on their own but I gave it 3 because all in all I thought it was rather rude to scam people out of their money by selling the same exact book under a different title all in the name of some dough! But then again maybe they were millionaire minded, saw an easy way to make some more bucks and went for it!

Business owners top the list. Surprised?
It came as no surprise to me that business owners came out on top of the list in this book profiling the millionaire mind. I have always contended that the only way to become a success is to be in business for yourself. Employees always end up short.

Some of the top qualities were hard work, discipline, social skills, integrity and discipline.

Millionaire Mind is an excellent book to be read along with The Millionaire Next Door. ... Read more

Book Description

Presents a comprehensive discussion of the foreign exchange market.
* Discusses the key parity conditions in international finance that relate interest rates, exchange rates, and inflation rates, and the underlying arbitrage considerations that determine them-along with numerous real-world applications.
* Presents distinctions between real and nominal exchange rates and between accounting and economic exposure and their significance for exchange risk management. ... Read more

Reviews (4)

It does not get any better than this
This is a comprehensive and masterfully written book; all MBA students and anybody doing business in or curious about the global economy will benefit from reading this work. All the fundamental principles of the field are clearly described and extensive real-world examples and case studies are given in which principles are synthesized and analyzed to create a very understandable and thorough learning framework. The result is one of the best textbooks I have ever read. The complex subjects of exchange rates, international monetary system, currency forecasting, country risk, foreign exchange rates, currency futures and options, swaps and interest rate derivatives, translation and transaction exposure, measuring and managing economic exposure, corporate strategy and capital budgeting for the multinational corporation, and more are covered.

Quick shipping! great seller.
Quick shipping! great seller.

Outstanding Finance Text
This book covers a comprehensive range of topics regarding international finance and economics. A good deal of the material covers macroeconomic issues that a country will face but there is even more infomration relevant to decisions and situations that companies must deal with when entering foreign markets. The breadth of information makes this book appropriate whether you want a blueprint for doing business overseas or just want to better understand the impact of global trade.

Shapiro is very well respected as an economist and this book is a good example why. I was fortunate enough to have him as a professor in an MBA program and can say he has an amazing command of the issues as well as the ability to communicate his knowledge very effectively. The writing in this book is clear and concise with a ton of info packed into each chapter. Buy it, you won't find a better text on this subject.

International Finance
Excellent book for anybody that want to have an introduction to understand international finance ... Read more

Book Description

Profitable Candlestick Trading

Pinpointing Market Opportunities to Maximize Profit

Misunderstood by investors for years, Japanese Candlestick charting and analysis has been described as too complicated to learn and too labor-intensive. Now, Candlestick trading expert Stephen Bigalow dispels these notions and demystifies the process of this valuable and successful technical analysis tool in Profitable Candlestick Trading: Pinpointing Market Opportunities to Maximize Profit.

In accessible and easy-to-understand language, this book bridges the gap between past wisdom and contemporary practice to give any level of investor a complete understanding of this proven, profitable, and time-tested investing technique.

"A superb exposition of Japanese Candlesticks: the oldest method of technical analysis developed more than 400 years ago. The book offers a thorough review and evaluation of this increasingly popular method of market analysis. A great source of information both for an experienced trader and a novice in this field."
–Vincent Kaminski
Managing Director, Enron Corp. ... Read more

Reviews (17)

Best Practical Candlestick Book
This book is the third Candlestick book that I have read cover to cover. The previous two were Steve Nison's two Candlestick books. While Nison's books were excellent and extremely easy to understand, this book concentrates on strategy for making money and gives more trading insights. I have been making money even in this bear market using the trading signals described in the book.

The system is simple...use stochastics to confirm candle signals to ensure that you always buy oversold stocks and sell short oversold stocks. If you are a disciplined trader and wait for confirmation of the signals you can be profitable more than 75% of the time and your losses from your losing trades will be minimal if you keep tight stops - A must in these market conditions.

There is a huge amount of overlap in Nison's and this book but I would still recommend all three as there is always some different points in each.

Top Trading Book
I have read at least 150 trading books in the last 5 years, jumping from one idea to another, looking for a plan I can feel comfortable with for short-term trading. Stephen Bigalow's book is at the top of my list. Steve supplies excellent descriptions and examples of the major and minor candlestick signals as well as a psychological explanation of them. In addition, this book, unlike other candlestick books I have read, provides a complete trading method for short, intermediate, or long-term traders/investors including money management techniques. A method (unique in my experience)for dealing with the trader's emotions is also described. The book makes candlestick charting understandable for both novice and experienced individuals. I believe the book provides a very readable and useful guide to profiting from the market.

Buy it for a lower price
If your commited to learning and using candlesticks in your trading this book is not as detailed as nisons book Japanese Candlestick Charting but is sufficient. The illustrations are good and the book is right to the point without alot of useless talk. Its a bit pricey as is nison`s book so i give it a 4.

Copycat Material
Another candlestick book that gets almost all of its material from Steve Nison's candlestick books.

Mr. Bigalow has taken Mr.Nison's work and ideas (Mr. Nison was the first to reveal candlesticks to the West) without so much as acknowledging this. This book just adds another indicator to the candlesticks without much new insight.

Mr.Nison's books are considered THE bibles of candlesticks. My feeling is if you are going to by a book on candlesticks, why not go to the master?

Better than others
Nisson wrote 3 books. all the same with different titles with a lot of useless talk. Anyway you would find many better candlesatick web pages if you want to save money like StockCharts.com. While these books and that web displays the main ones. There is actually hundreds of them and hundreds of web sites about them.
I bought this book to see trading strategy confirming Elliot waves with candle sticks pattern.. You could also use Key reversal. Open-Close reversal, Hook reversal, closing price reversals,pivotpoint and islands reversals only found at incrediblecharts.com. Tony Carbel book is out of print. Another sort term reversal/continuation pattern is gaps. Nisson thinks he invented candle sticks. I don't suggest ebook download with activation problem in Acrobat 6 web site. If it doesn't work, you don't get your money back. ... Read more

Book Description

Fundamental topics and new methods in time series analysis
Analysis of Financial Time Series provides a comprehensive and systematic introduction to financial econometric models and their application to modeling and prediction of financial time series data. It utilizes real-world examples and real financial data throughout the book to apply the models and methods described.
The author begins with basic characteristics of financial time series data before covering three main topics: analysis and application of univariate financial time series; the return series of multiple assets; and Bayesian inference in finance methods. Timely topics and recent results include:
* Value at Risk (VaR)
* High-frequency financial data analysis
* Markov Chain Monte Carlo (MCMC) methods
* Derivative pricing using jump diffusion with closed-form formulas
* VaR calculation using extreme value theory based on a non-homogeneous two-dimensional Poisson process
* Multivariate volatility models with time-varying correlations
Ideal as a fundamental introduction to time series for MBA students or as a reference for researchers and practitioners in business and finance, Analysis of Financial Time Series offers an in-depth and up-to-date account of these vital methods. ... Read more

Reviews (3)

Analysis of Financial Time Series
This book is awesome. It starts with bedrock concepts needed for analysis of financial data and it takes the student up to the most recent and important techniques used in the industry today. However, if one expects to fully utilize this text, one should have at least one semester of applied econometrics or some equivalent course in statistics and continuous probability, although it will be practical to study the two topics concurrently.

A very practical book
This is not a reference book, and it's not about "big" theory either. It's pretty practical, and good for self study. You should have access to some econometric/statistical software (i.e. EViews, S-Plus, etc.) to fully understand this book.

Petition: please provide table of contents!
I want to see the table of contents of this book. How can the author and the publisher expect people to buy this book without providing the table of the contents?... ... Read more

Book Description

The Original 1949 Edition

Benjamin Graham's classic best seller on value investing has taught and inspired hundreds of thousands of people worldwide. This reissue of the pure, unadulterated 1949 text by Graham offers the investing principles as he originally laid them out -- principles that continue to stand more than half a century since the book was first published.

Time and market developments have proven the wisdom of Graham's basic strategies, and in today's volatile market, this is the most important book you will ever read on making the right decisions to protect your investments and make them a success.

Book Description

The Third Edition of this highly regarded reference offers unrivaled single-source coverage of the financial aspects of construction funding. Updated to provide more current costs, address environmental concerns, and shed light on the latest methods used to fund projects, it helps readers solve the unique financial challenges facing today's construction industry. ... Read more

Reviews (2)

MBA student
Very interesting  book; very easy to read.
As a small real estate investor I found it very helpful in understanding many of the ins and outs of real estate and financing, especially on the scale i would like to grow to.

A first class book on Real Estate Development
The third edition of Construction Funding by Nathan S. Collier et al is a remarkable demonstration of insight and expertise. Collier and colleagues provide an exceptionally lucid description and analysis of the process of real estate development that is accessible to non-experts while being authoritative at the same time. In addition to being an excellent text for students and others interested in careers in real estate development, this book serves as essential background for all those whose responsibilities include any part of the development process. ... Read more

Book Description

This popular text, publishing Spring 1999 in its Second Edition, introduces the mathematics underlying the pricing of derivatives. The increase of interest in dynamic pricing models stems from their applicability to practical situations: with the freeing of exchange, interest rates, and capital controls, the market for derivative products has matured and pricing models have become more accurate. Professor Neftci's book answers the need for a resource targeting professionals, Ph.D. students, and advanced MBA students who are specifically interested in these financial products. The Second Edition is designed to make the book the main text in first year masters and Ph.D. programs for certain courses, and will continue to be an important manual for market professionals. ... Read more

Reviews (48)

The best intro book ever!
Students of derivative pricing techniques are often in a dilemma: Coming from their MBA or undergrad course, they have just build a "brealy-myers" type of intuition on options. Moving towards Hull then allows a deeper understanding. But any serious (eg PhD, Wall Street Analyst) student of derivatives needs to undertstand the math behind modern derivatives pricing. Essentially, this research divides into two streams: Solving Partial differential equations and developing equivalent Martingales. Without a rigorous pre-education (Maths, Physics), most students fail to understand (let alone learn to use) these methods. Nefci is the only book that does not assume lots of prior knowledge, as compared to Merton (1992) or Duffie (who is so bold to write "for mathematical preparation little beyong undergraduate analysis...is assumed" -ask PhD Students how easy this book reads! The answer is its tough!!). In Short, Neftci's book is a true blessing for all "normal" people. Can't wait to get the second edition!

Good explanations, with serious hand-waving
I used this book to teach a Financial Mathematics course, and found its explanations to be generally clear and good. However, part of the reason the text seems so clear is that it doesn't explain much of what's really going on. It covers the right material, but not really in such a way that the reader can then go on to apply the knowledge gained.This is evidenced by the complete (and almost unforgiveable) lack of exercises in the book. It is very easy to feel you understand this sort of material, only to be completely lost when you actually have to solve a problem. Neftci will not help in this regard. I understand that it is difficult to create good exercises, but their absence almost makes me wonder if Neftci realized he was not explaining things in enough detail to let the student actually work with the knowledge. Exercises are the only way to really learn this subject.A basic problem with all these texts is that, try as they might, they cannot impart true understanding unless the student can grasp real analysis at, say, an undergraduate level typically reached by students at a good engineering school. This text tries to avoid the problem by failing to mention any of the analysis...that's not likely to work.

Good Book
I've read Hull, Wilmott and Baxter books but definitely like this book better - particularly for entry (but not easy) level derivative math. Can't say much since English is not my first language. But if you want to learn about Derivative Math and don't have strong background in Math (I'm a Porfolio Manager and have pretty good background in Calculus, Differential Equation, Econometrics) this book is certainly worth considering. I give 4 stars due to the lack of practice problems.

Good book for the right audience
It is amazing that people are not willing to take it what it is, an 'introduction' to mathematics of financial derivatives. The 'reader from New York' of 'notation challenged' seemed to have wanted a rigourous treatment of SDE, yet is sorely disappointed not to find it in this book. IMO it gives an extremely clear exposition of the various tools of SDE and having read it has allowed me to progress to books in which mathematical rigor is stressed over intuition. So in a nutshell this book achieved its stated goal of offering an intuitive and heuristic explanation of mathematics of derivatives to the novices taking their first steps in the financial engineering land.

Notation Challenged
As Yogi might have said: "If you understand this book, you don't need this book.".

If you have a good grip on the industry conventions relative to notation, and have seen the material before, you might understand this book. If not, you won't.

Notation is: 1) frequently wrong; 2) used inconsistently; 3) used out of context (i.e., without foundation); 4) glued in as a concluding argument in a logically non-convex way.

The absence, misuse, abuse of time subscripts makes some of the arguments incomprehensible.

Some arguments pursue a change of reasoning in probability space, then make a jump to an S.D.E. with industry standard notation, but so far out of scope, that the connections are not clear. As one example, if you: 1) know the underlying S.D.E., and if you ; 2) understand the connection between risk-neutral probability and risk-free measure , and if you; 3) understand why a state variable is allowed to commute through an expectations operator because it is no longer stochastic (though why that might be so is not explained), then you will have a chance of understanding the author's argument connecting the transformation of synthetic probabilities to a standard S.D.E.

Some words are capitalized to emphasize, rather than being defined. Sort of like going to a foreign country and shouting more loudly as a communication strategy ... Read more

Book Description

Learn the art and science of trading systems from professional speculators. The authors share powerful long and short trading strategies that span all time frames, including over one hundred annotated charts with commentary and rationale. The book contains a complete implementation of a professional trading platform, including dozens of TradeStation strategies, indicators, and functions. Further, advanced trading techniques such as pair trading and float trading are explained. These systems are integrated into a fully automated framework for position sizing and trade management. Finally, follow the authors as they track their stock selections throughout the week in real time.

Note: All of the free EasyLanguage code needed to run the trading systems and indicators presented in each chapter is given in Chapter 11. TradeStation is required. ... Read more

Reviews (20)

Volatility trading system is good
I give credit to these guys for providing the complete system rules for entries and exits along with some position sizing algorithms. There are many, many books on patterns, and few of them ever give performance statistics. At least with this code you can import it into TradeStation and be up and running in a matter of minutes. That said, some of the systems are good and some are not so good. I suspect that the pairs trading system might have worked when there was intraday volatility but the market has changed since then. The linear regression system (V) is good and should be applied to momo stocks. It has been phenomenal in this market, don't think I'd use it in a bear market. There is another system in the book that is even better but I'm not gonna say here. It's my bread-and-butter, so there ;-).

Great book for system traders
If nothing else, get this book for its rich code base. I downloaded the code from the TradeStationWorld site to save myself the typing. Yes, you do need to subscribe to TradeStation to use the code (the code is written in a Basic-like language for trading called EasyLanguage).

I have been a subscriber to TradeStation for a long time. The authors are generous contributors of articles and free code to the TradeStation community and are well-respected. I would check out their article that uses combinations of sentiment indicators, taken from Chapter 8 in the book.

Enjoyable reading
It's an enjoyable book. Discretionary trading strategies are incorporated into a mechanical frame by means of a Tradestation platform. Most of the systems incorporate well-known price pattern concepts, with the exception of the float analysis system. The novice trader will obtain some good ideas on how to develop a trading system, with the exception on the issues regarding testing and optimization.

Most of the systems incorporate the concept of price contraction/expansion and trading performance is mainly dependent on price volatility. These types of systems are a natural consequence of the bubble trading environment where prices surpassed normal levels of historical volatility by leaps and bounds. The trading environment is quite different now, as the recent rise in the markets is marked by low price volatility. This environment tends to favor trend following systems, something that the book does not present.

Stock selection and stop placement is a bit confusing. First, the position modelling incorporates an ATR factor of 1. The entry/exit default models call for a 0.3ATR trigger above and below the high/low. From the get go, the max. loss potential is 2*0.3+body of the bar, which in most cases will be greater than 1ATR. The exception to the case will be in the narrow range models, where the body of the previous bar may be small enough to limit stop loss at 1ATR. The other dubious issue is stock scanning and selection. It is not clear whether the authors trade the system on a stock for an extended period of time, or whether they scan the markets for stocks that meet the filtering criteria and perform a quick test to determine performance. If the latter, then the trading system works as an automated discretionary system rather than "mechanical" on its true meaning. The latter approach does not take advantage of the statistical edge of a system when only traded a few times in a certain stock, and becomes a random event.

The filtering seems somewhat very restrictive and the ATR trigger rather than the high or low of the bar is not convincing. I have developed and traded narrow range systems where the high/low of the bar works as a better triggering mechanisms. This is because of the nature of the stocks that the authors tend to favor in their selection. The filtering on the narrow range system is restrictive, and when traded on a single stock for a considerable period of time on a daily timeframe, the user might be disappointed.

But overall, the book is an excellent addition to your trading library.

Excellent sampling of Tradestation-based systems
I like this book--even though I don't have TradeStation to actually try the source code out on. It's a great nuts-and-bolts look at the actual step-by-step coding of several different sample systems. I recommend this for any novice trading system developer using the TradeStation platform. For non-TradeStation owners, I don't particularly recommend it, as many of the useful tidbits found in the explanatory parts of the book are drawn from other famous trading books. Without TradeStation, most of the book is rendered useless. Still, I was able to make use of the book because I am a programmer and can convert the tons of provided source code into Wealth-Lab Developer or Amibroker's proprietary languages. And the sample systems gave me some great ideas on how I can improve my existing systems.

Commentary from Malaysia Trading Group
Our comments as follows.

- We computerised our trading floor with pattern code.
- Need Tradestation software
- Separate CD product has good intraday indicators for 3-line break and ACD code
- Rectangle pattern work very well daily and real-time.
- Lots of free code, book cheap for this reason ... Read more

Amazon.com

Among the library of investment books promising no-fail strategies for riches, Benjamin Graham's classic, The Intelligent Investor, offers no guarantees or gimmicks but overflows with the wisdom at the core of all good portfolio management.

The hallmark of Graham's philosophy is not profit maximization but loss minimization. In this respect, The Intelligent Investor is a book for true investors, not speculators or day traders. He provides, "in a form suitable for the laymen, guidance in adoption and execution of an investment policy" (1). This policy is inherently for the longer term and requires a commitment of effort. Where the speculator follows market trends, the investor uses discipline, research, and his analytical ability to make unpopular but sound investments in bargains relative to current asset value. Graham coaches the investor to develop a rational plan for buying stocks and bonds, and he argues that this plan must be a bulwark against emotional behavior that will always be tempting during abrupt bull and bear markets.

Since it was first published in 1949, Graham's investment guide has sold over a million copies and has been praised by such luminaries as Warren E. Buffet as "the best book on investing every written." These accolades are well deserved. In its new form--with commentary on each chapter and extensive footnotes prepared by senior Money editor, Jason Zweig--the classic is now updated in light of changes in investment vehicles and market activities since 1972. What remains is a better book. Graham's sage advice, analytical guides, and cautionary tales are still valid for the contemporary investor, and Zweig's commentaries demonstrate the relevance of Graham's principles in light of 1990s and early twenty-first century market trends. --Patrick O'Kelley ... Read more

Reviews (22)

Tired
Although I am mostly a value investor, this has never been my favorite book. The old 1973 edition which this replaces was dated and the examples were hard to relate to today's market. Even the previous editions were not ones I particularly enjoyed. Quite frankly, the book was and is boring. Also many of th