Book Description

Finally, together in one place, a comprehensive step-by-step process for launching your career as a financial planner. Here is everything you need to know - from getting the right credentials to getting the rights clients. Over the next few decades, billions of dollars will be changing hands as millions of Baby Boomers retire. Learn how you can play an important role in ensuring the financial health of future generations. ... Read more

Reviews (17)

Excellent preview into the Financial Planning Career
Very good book. One of the best resources I've ever seen. Lots of useful tips and suggestions about being successful in the financial planning world. I would recommend this to anybody thinking about FP as a career. Nancy is a great resource and very much up to date with current industry trends. Especially useful for new or hopeful advisers. I can't wait for the next edition. Thank you Nancy !

Best book on the market, detailed, thorough and complete.
Anyone who is interested in the career of a financial planner should consider Nancy Langdon's book the most complete resource. She covers every aspect of the career--the good and the bad. This book isn't what you'd expect, it tells the truth.

What I like most about the book is the "sensitive financial planning" ethic and how financial planners differ from brokers.

This book sees the career of financial planning exactly as it is...you will be able to assess financial institutions for what they really are rather than relying on just their marketing tactics when deciding on which company is best for you.

I highly recommend this book for anyone who is interested in financial planning--no other book comes close!

Good Information at a Basic Level
This book provides a large amount of information at a faily basic level. The information provided was useful. The book gives a broad overview of the industry and provides guidance for those considering a career in financial planning. Use this book as a starting point if you are considering a financial planning career.

Wonderful, Comprehensive Resource
This is a great resource for those who are looking for an understanding of what the industry is all about and step by step advice on how to enter the profession. Nancy's book was not the first book I read on Financial Planning. I'd read probably two or three others before she came out with her book and still had lots of questions about the nuts and bolts. I loved the book and found it very comprehensive. As a career changer, my biggest questions revolved around pros and cons of the various educational options and the process to move into the field. The chapter that discussed "planners who have been in the industry five years or less, and how they made the transition" was very enlightening for me.

Nancy's approach to the profession is definitely others-focused (you might say altruistic). You won't learn how to be a top producer from her narrative, but if you're looking for a multitude of insights into a profession that can be challenging, exciting, fulfilling, and rewarding through the service you provide to others, this is definitely the book. For me it was exactly what I was looking for.

Good starter
This book is a great overview of financial planning as a profession. It discusses the many facets and approaches to the business while maintaining an evenhanded approach throughout. It focuses the reader on one of the most important points when considering financial planning as a career, "what does financial planning mean to you, and do you want to spend your life doing that?" ... Read more

Book Description

The annual budgeting process is a trap. Pressured by fixed targets and performance incentives, managers focus on making the numbers instead of making a difference, meeting set goals instead of maximizing potential. With their compensation at stake, managers often resort to deceitful-even unethical-behavior. In the end, everybody loses-the employee, the company, and ultimately the customer.

Now, finance experts Jeremy Hope and Robin Fraser reveal the results of an intensive study aimed at fixing the broken budgeting process. They argue that companies must abandon traditional budgeting contracts in favor of a radical new model that links performance measurement to evolving competitive benchmarks-and shifts the firm's focus from controlling employee behavior to delivering customer value.

The Beyond Budgeting model is built on the best practices of companies that have successfully revised their centralized planning and budgeting processes. It combines a leadership vision that devolves more authority to operating managers and a finance vision that enables fast decision making through appropriate tools and accessible information. Through vivid examples, Hope and Fraser illustrate how companies can implement these shared visions-and the long-term benefits that accrue from embracing them.

Offering a compelling case for breaking free from the budgeting trap, this book paves the way toward making organizations better places to work for, invest in, and do business with.

... Read more

Reviews (2)

Excelent real life cases
This book does capture the findings from the work of Beyond Budgeting Roundtable in a excellent way. The cases in the book are real and are brilliant proofs of the fact that it is possible to run even a large corporation with out traditional budget models. I'm really looking forward to the follow up.

Good Book on Relatively New Topic
As a business consultant with many years experience in budgeting, I found this a very useful overview of a relatively new topic in finance. The authors clearly show the limitations of the traditional budgeting process and present a comprehensive alternative.
However, while the book brings many examples from real companies, many of the ideas still seem a little conceptual and difficult to imagine how they would actually work in practise.

This book will certainly interest anyone seriously involved in budgeting. ... Read more

Book Description

The business of investment banking has become intensely competitive. With a growing number of clients who prefer to deal with a single financial advisor for all their capital needs, firms must now engage in all major capital-market activities in order to meet this demand. Rapid advances in information technology have closely linked the international capital markets and, as a result, major securities firms have gone global to better serve their clients. To fully understand this changing environment and remain players in the game, new and seasoned professionals alike will require detailed, in-depth information on a broad scope of banking operations.

The Business of Investment Banking is a complete guide to the major banking activities in today's global marketplace. This convenient, one-volume reference identifies and analyzes key trends worldwide, allowing banking and finance professionals to effectively manage deals and incorporate trends into operations. In The Business of Investment Banking, Professor K. Thomas Liaw goes beyond traditional banking topics and includes extensive coverage of rarely discussed subjects that are integral to investment banking, such as emerging markets, proprietary trading, repurchase transactions, operations, money management, and how foreign firms list on Wall Street.

Beginning with an overview, covering everything from underwriting to M&As to global presence, Liaw provides a thorough and rigorous analysis of the current market practices in all relevant business segments. He presents an investment banker's perspective on the current environment, with a detailed description of the strategic decision-making process that is crucial to successfully managing the investment bank.

This thorough guide is divided into four main sections:

• Basic Business—explores venture capital investment, mergers and acquisitions, underwriting, and asset securitization
• Global Perspective—detailed information about foreign listing on Wall Street, international capital markets, and emerging markets
• Trading and Risk Management—extensive data on proprietary trading, repurchase agreements, financial engineering, and money management
• Special Topics—discusses clearing and settlement, securities regulation, ethics, major trends, and Section 20 subsidiaries

Comprehensive, unparalleled coverage of a wide range of topics makes The Business of Investment Banking an invaluable, one-stop resource for all practicing investment banking professionals and for graduate students interested in a career in capital markets. ... Read more

Reviews (15)

Good introduction, but no details
This is an excellent book for anyone wondering what Investment Banking is all about, but who doesn't want to learn how to price a company. It describes in sufficient detail, for the reader to understand, the concepts underlying Investment Banking and what they really do in the Investment Banking world as well as explaining in easy (relatively) terms the jargon that is used in the business.

If you want the theoretical underpinnings of the financial world, this book is not for you. If, on the other hand, you're an aspiring Investment Banker that wants to know what it is all abour or if you're just curious about what the Investment Banking business is about: buy this book as a primer/introduction and if you find it interesting, search for a more theoretical book.

Fantastic, easy to understand overview of the business...
This book is very well written and very easy to understand. It touches on most of the various aspects of the business without over-focusing or under-focusing on any particular area. A definate business school quality textbook, or an excellent reference source. Real life examples are given to further your hands-on understanding. I emailed the author, and my email was quickly responded to in a very friendly manner. I highly recommend this book for anyone wanting to learn the business of investment banking.

good overview but expensive
This book is a good overview of the investment banking business, but it is quite expensive. I would strongly recommend instead or in addition the Vault Career Guide to Investment Banking.... The Vault guide includes more detailed overviews of all the departments and functions of an investment bank including corporate finance, M&A, sales, trading, private client services, credit, etc. If you are a job seeker in investment banking also try the Vault Guide to Finance Interviews, which contains actual investment banking finance interview questions and answers and which I found to be enormously valuable in my Wall Street job search.

Highly Recommended!
What exactly do the Masters of the Universe do between weekends at their Hamptons estates? While most of us have a vague idea of what investment banking is, businesspeople need a clear understanding of what goes on behind the Wall Street curtain. This book pulls that curtain aside with a systematic explanation of the businesses, strategies and tools of the major investment banks. Parental advisory: The book features a technically complex subject being addressed by a professor in finance. Some colorful anecdotes or engaging examples might have lightened the mood, but this isn't exactly Oprah territory here, and we [...] heartily recommend this solid book. Writing with expertise, Thomas Liaw breaks down the current business of investment banking and examines the changes that are blending the profession with commercial banking and insurance, a process that could reduce the Masters to mere mortal servants of global financial services supermarkets.

Disappointing and Inaccurate
My biggest problem with this book is that it contains much misleading information on investment banking -- particularly with respect to securities law. As a former corporate and securities attorney and now investment banker, I found that at many points Liaw was at best half right and at worst completely wrong with respect to some of the finer points of the financing process. The book also contains numerous grammatical mistakes that are extremely distracting. (I would have expected more from John Wiley & Sons. Next time please hire a proofreader!) Is that too much to ask for an $80 book? In fairness, I did not get past the first 3 chapters of the book so perhaps the book gets much better later on, but I sincerely doubt it. In short, this book is not worth the money. ... Read more

Book Description

Harvard Business Essentials

Your Guide and Mentor to Doing Business Effectively

In the faced-paced world of business today, everyone needs a personal resource-a place to go for advice, coaching, background information, or answers. Bosses and colleagues aren't always available when you need them-and they might not always have the most reliable solutions to your business problems right at hand.

The Harvard Business Essentials series fills the gap. Concise and straightforward, these books provide highly practical advice for readers at all levels of experience. Whether you are a new manager interested in expanding your skills or an experienced executive looking to stay on top, these solution-oriented books give you the reliable tips and tools you need to improve your performance and get the job done. Harvard Business Essentials titles will quickly become your constant companions and the trusted guides you'll turn to throughout your business career.

Finance for Managers Calculating and assessing the overall financial health of the business is an important part of any managerial position.From reading and deciphering financial statements, to understanding net present value, to calculating return on investment, this book provides the fundamentals of financial literacy.Easy to use and non-technical, this helpful guide gives managers the smart advice they need to increase their impact on financial planning, budgeting, and forecasting. ... Read more

Reviews (1)

Essential, Yes, and for Many, Invaluable
This one of the volumes in the new Harvard Business School Essentials Series. Each offers authoritative answers to the most important questions concerning its specific subject. The material in this book is drawn from a variety of sources which include William J. Bruns, Michael J. Roberts, and Robert S. Kaplan as well as Harvard Business School Publishing and Harvard ManageMentor®, an online service. Each volume is indeed "a highly practical resource for readers with all levels of experience" but I think those who have only recently embarked on a business career will derive the greatest benefit.

This volume explains the basic concepts of finance to managers who are not financial managers. As Richard Luecke notes in the Introduction, "Knowing how to finance assets, forecast future cash flows, maintain a budget, determine which operations are profit generators and which are not, and judge the real economic merits of different investment opportunities will help you stay in business and turn a profit." Samuel L. Hayes served as subject advisor to Luecke, writer of this and other books in the Harvard Business School Essentials Series and author or developer of more than 30 other books as well as several dozen articles.

There are ten chapters followed by an Appendix: Activity-Based Budgeting. (More about that material in a moment.) Each chapter is introduced by a list of "Key Topics" to be covered in it. For example, in Chapter 5, the focus is on start-up financing, financing current operations, financing growth, establish a proper match of assets with financing, and typical financing arrangements. Obviously, all of this material may seem basic (if not self-evident) to the experienced financial manager but keep in mind that the material was carefully selected for managers who are not financial managers.

One of the most informative discussions is provided in the Appendix when brief but sufficient attention is given to "Developing Cost Drivers" and more specifically to activity-based budgeting (ABB) and how it differs from activity-based costing (ABC). Less experienced non-financial managers are frequently asked to prepare a report which, more often than not, involves a budget or at least a cost analysis. A basic understanding of ABB and ABC will guide and assist the completion of that task. Whereas ABC starts with the cost of resources, allocates these costs to activities, and then allocates these costs to products and/of services, ABB starts with the planned product or service, estimated sales volume, and mix and comes up with the requisite activities to produce the mix and volume.

Financial managers as well as non-financial managers who supervise other non-financial managers should seriously consider providing copies of this book to those who currently do not understand "how to finance assets, forecast future cash flows, maintain a budget, determine which operations are profit generators and which are not, and judge the real economic merits of different investment opportunities" which will help [their organization] stay in business and turn a profit." Of course, younger executives need not wait for such provision. Published as a paperbound volume and priced attractively, Finance for Managers would be a modest investment for them to make in their own careers. ... Read more

Book Description

The most complete guide to business valuation written by industry-leading valuation specialists! Handbook of Business Valuation Second Edition In this thoroughly revised and updated edition of the number-one guide to business valuation, nearly 50 experts provide expert advice and guidance on all facets of the subject. This is a single-source guide to valuation approaches and methods, in addition to all of the procedures necessary to accurately value a business. The Second Edition of the Handbook of Business Valuation enables you to find precisely the information you need; just go directly to the chapter concerning the topic you are interested in. There is no need to read the entire volume-it's quick and easy. This is the only valuation book you need. It provides chapters on valuing specific businesses, such as: software companies, radio and cable stations, medical practices, home-based businesses, and many more, plus a special chapter on researching business valuation information on the Internet.
* An entire chapter on commonly used rules of thumb
* Business valuation from the perspective of the buyer, seller, lawyer, lender, and others
* All updated information, plus much that's new
* Important sections on family limited partnerships, intellectual property issues, minority interests, and much more ... Read more

Reviews (10)

Very good treatment of the role of money
The author is very good in leading the reader through how money and its avaliability play an important role in determining the economy of any country.
The banking industry and its role are covered as well - starting from a historical perspective to the present day. Our class was doing a chapter on the various reforms in the banking industry when the Enron-Anderson scandal happened. We had some very though-provoking discussions in the class based on the material in the text.
While I am not a complete stranger to economics, I took home a lot of valuable information by the time I was done with this course and this text book. I only wish the publishers had included a CD ROM of real-world exercises / problems that stimulate thought on issues to consider when determining monetary policy.

Wonderful and accessible book
Highly recommended for both dummies and people familiar with economics. The author presents an unbiased, unpartisan, clear introduction to numerous aspects of monetary policy, financial institutions, and financial markets. Along with factual material the author presents important and profound generalizations and principles.

Pretty good book for intermediate level
Design:
The book is designed well with appropriate headings and sub-headings making it smooth to read and navigate. The language used is also well understood.

Content:
This book introduces the various financial markets: bond, stock, foreign exchange and a brief discussion on derivatives. It gives a general idea and analysis behind the operating mechanisms of monetary policies, paving the way for further studies into the topics.

Its main focus is on the U.S. economy, and includes applications in the European Union and Asia as well. Small sections are devoted to real world applications, with reference to the concepts taught.

For who:
On the other hand, this book remains an introduction to monetary economies and is not for students seeking detailed analysis. Students should also have a basic background on economics in order to utilize the text to the fullest.

Excellent textbook on monetary economics
For once, there is an economist with a passion to teach and communicate well. Although it is supposed to be an introductory text in monetary economics, I return to it again and again to check my basic understanding of this subject.

Perfect Introductory Book for Money and Bank Theory
Perfect for an introductory course in Banking and Monetary Theory. Requires a preview of basic economics to really get the most benefits. Undergraduate students would surely appreciate it. ... Read more

Book Description

Praise for The First edition

"Here’s my advice: first, design a trading strategy that gives you an edge in the markets; second, trade your strategy with precision and steadfastness; third, study The Trader’s Tax Solution and apply Tesser’s principles to your taxes and financial planning. If you’re a trader or investor who wants to keep the maximum possible amount of the money you’ve earned, your copy of The Trader’s Tax Solution will be worth its weight in stock certificates!"
–Thomas A. Bierovic, Manager
Strategy Testing & Development, Omega Research, Inc.

"I have heeded Ted Tesser’s advice for many years. His background, knowledge, and experience have been invaluable in saving me an enormous amount of money over the years. This book is my bible for financial and tax strategies."
–Bill M. Williams, PhD, CTA
Professional trader and President, The Profitunity Trading Group

"Taxes can be the largest single expense for a successful trader. Ted Tesser draws on his experience as both a CPA and successful trader to show you how to minimize this expense. This book is clearly written, practical, and comprehensive. Deserves a place on every trader’s bookshelf."
–Sheldon Knight, President, K-Data, Inc.

"Ted Tesser is one of the nation’s foremost experts on investment taxation. In this definitive guide to reducing and even eliminating whole classes of tax exposure, Ted presents a wealth of solid tax strategies that investors and traders will find indispensable."
–Nelson Freeburg, Editor, Formula Research

"Ordinarily a ho-hum subject, Tesser has made reading about taxes for traders enjoyable. This book is not only a fun read, it is an invaluable reference. The Trader’s Tax Solution contains everything a trader needs to know about taxes."
–Sunny J. Harris, President, Sunny Harris & Associates, Inc.
Author, Trading 101: How to Trade Like a Pro,
Trading 102: Getting Down to Business, and Electronic Day Trading 101 ... Read more

Reviews (1)

The tittle is somewhat misleading
The publisher is definitely an expert in marketing books. The book gives you a first impression that it provides you with "New" solutions to save you money. Well, I think that is a stretch at best. (That's why 3 stars.)

After reading the book, (BTW, I bought it nearly one year ago) I realized it doesn't provide detailed solutions that might help us do-it-yourself folks to prepare tax returns, if, for instance, you're a Security trader.

The book, however, is a very good start where one may find a quite complete education on tax and estate planning, and where one may find further info. It provides many real life court cases, involving tax filings, with comments. The author does have extensive knowledge and experience in the field. But, in general, the author insists that you find a lawyer or competent accountant to do the tax returns. That's why this is not a "how-to" book. For instance, it doesn't tell me how to complete Form 3115 line by line, rather it explains the purpose of the Form and the key points one must know about the Form.

The number of issues covered in the book may be more than what one needs to know. All in all, it is a very good text for those who care to know more about their money and taxes, and the nasty surprises that IRS has in store for the unprepared. ... Read more

Book Description

Praise for Financial Valuation

"The book has a wealth of detail, practice tips, examples, and extra information, plus sections on business valuation situations not addressed elsewhere. A valuable addition to the literature of business valuation."
–– Shannon Pratt, CFA, FASA, MCBA
Managing Director, Willamette Management Associates
Managing Owner, Business Valuation Resources, LLC

"The book sets a fine example in technical yet readable exposition. As the text flows, it is evident [the twenty-five authors] have taken great steps toward achieving uniformity reflecting the various opinions within the profession.This goes a long way toward reinforcing proven methodologies and validating their ‘real world’ application. The well-thought-through categories–starting with Standards of Value–and legal insights with ‘tried and true’ cases reveal and attest to the depth of [the authors’] experience in business valuation and litigation consulting.
"All of the topics appeal to practitioners of all levels. Value-adding ‘ValTips’ are quite helpful in stimulating broader consideration of each subject and elevating the reader’s perspective."
–– Parnell Black, MBA, CPA, CVA
Chief Executive Officer
National Association of Certified Valuation Analysts

"This book takes the consensus of many talented appraisers and presents topics in a fashion that has not been seen before in any other valuation treatise.Many of the same old topics are presented, but this time, even I was forced to take a much closer look. This unique approach to many of these topics is a must for the well-rounded appraiser."
––Gary R. Trugman, CPA, ABV, MCBA, ASA, MVS
Trugman Valuation Associates
A Rachlin Cohen & Holtz Company

"This is a unique publication in that it brings together twenty-five nationally recognized names in the valuation industry to provide practitioners with their consensus ‘school of thought’ on many commonly encountered valuation issues. The author list includes analysts from all the valuation organizations with many current or former members of the AICPA Business Valuation Subcommittee and the AICPA BV Hall of Fame. An excellent reference source for CPAs looking for guidance from some of the top valuators in the nation."
––Thomas E. Hilton, MS, CPA/ABV, CVA
Chair, AICPA Business Valuation Subcommittee
Partner, Anders, Minkler and Diehl LLP

Coauthors: Mel Abraham, Jim Alerding, Terry Allen, Larry Cook, Mike Crain, Bob Duffy, Ed Dupke, Nancy Fannon, John Gilbert, Tom Hilton, Greg Koonsman, Eva Lang, Mike Mard, Harold Martin, Mike Mattson, Jim Hitchner, Steve Hyden, Ray Moran, Charles Phillips, Jim Rigby, Ron Seigneur, Robin Taylor, Linda Trugman, Don Wisehart, and Mark Zyla. ... Read more

Reviews (1)

Review of "Financial Valuation: Applications and Models"

Jim Hitchner, a name well-known to ABVs and other valuation practitioners, conceived the novel idea of bringing together twenty-five highly visible and well-respected valuation professionals to present the group's collective views and positions on business valuation concepts and applications. Each of the authors is a coauthor of the entire book. The authors, many of whom are ABVs and instructors for the AICPA's national business valuation educational program, include Mel Abraham, Jim Alerding, Terry Allen, Larry Cook, Mike Crain, Bob Duffy, Ed Dupke, Nancy Fannon, John Gilbert, Tom Hilton, Jim Hitchner, Steve Hyden, Greg Koonsman, Eva Lang, Mike Mard, Harold Martin, Mike Mattson, Ray Moran, Charles Phillips, Jim Rigby, Ron Seigneur, Robin Taylor, Linda Trugman, Don Wisehart, and Mark Zyla.

The result of this collective effort is "Financial Valuation" - a text that presents a compilation of "best practices" for the business appraiser.

"Financial Valuation" covers the obligatory fundamentals found in most other introductory texts. What sets this text apart from others is its focus on applications and methods. The text contains numerous practical examples and discusses alternative approaches for tackling those complex issues that are often encountered in the real world of valuation practice. This focus makes "Financial Valuation" an indispensable tool for even the most experienced appraisers. Some of the text's highlights include:

Chapter 4, Income Approach to Value, discusses the alternative income valuation methodologies and includes a detailed example of the excess cash flow (earnings) method.

Chapter 5, Cost of Capital/Rates of Return, includes a comprehensive presentation on the application of Ibbotson data for determining risk premiums in discount and capitalization
rates.

Chapter 6, Market Approach to Value, discusses alternative market valuation methodologies and presents a quantitative method for using and adjusting guideline public company multiples for size and growth differences.

Chapter 9, Report Writing, presents a detailed valuation report with numerous comments on why certain items were included or excluded.

Chapter 12, Family Limited Partnerships, presents a detailed case study on the valuation of a Family Limited Partnership including the selection of discounts for lack of control and
lack of marketability.

Chapter 13, Court Case Issues and Review, includes synopses of over 40 tax court cases organized by major valuation areas of dispute.

Chapter 16, Valuation in the Divorce Setting, discusses the complexities of valuing ownership interests in closely held businesses for divorce purposes, including a discussion of relevant state case law, standard of value, applicability of discounts and premiums, etc.

Chapter 18, Valuation Issues in Professional Practices, provides an overview of the issues involved in valuing professional practices such as medical, law, and accounting practices.

Chapter 19, Valuation of Healthcare Entities, includes two detailed case studies: a surgery center and a hospital.

Chapter 20, Valuation of Intangible Assets, includes a detailed case study on an allocation of purchase price for a business combination under new SFAS 141.

Chapter 21, Marketing, Managing, and Making Money in a Valuation Services Group, presents practical guidance on how to operate a valuation practice.

Chapter 24, Valuation Views and Controversial Issues, presents a discussion of subjective and difficult areas of valuation in the form of a case study/report format.

The text also includes hundreds of "ValTips" which alert the reader to important and often controversial topics. The accompanying "Financial Valuation Workbook" provides a detailed case study, models, and exercises that can substantially reduce a beginner's learning curve and assist the experienced practitioner in better organizing the valuation process. The Workbook follows the valuation engagement format and is organized by standard, easily identifiable sections that allow for easy reference.

SUMMARY
"Financial Valuation" gets two enthusiastic thumbs up! ... Read more

Book Description

Short-term financial management skills are increasingly important. Written by authors who both hold Certified Cash Managers credentials, this comprehensive book offers broad coverage of treasury and working capital management, while using valuation and the cash flow timeline as integrating themes. Its complete coverage includes current developments in treasury management, banking deregulation, globalization of financial services delivery, e-commerce, international cash management and foreign exchange risk ? all with a decision-making emphasis throughout. In addition, Short-Term Financial Management highlights examples of companies using the Internet for treasury management and other emerging trends. ... Read more

Book Description

Aswath Damodaran is nationally recognized for his teaching approach, using theory and the models that flow from it to understand, analyze and solve problems. He treats corporate finance as a living discipline by making it much more applied than other textbooks. Throughout the text, real companies and real data are used in examples and exercises. ... Read more

Reviews (5)

Exceptionally well written book
This is a very well written book. We have used this book for our financial management class Howard University. I personally proud to know that there are still people like Prof. Damodaran out there, people who can make time to ensure that knowledge is freely available to the students. Prof. Damodaran is one the best minds that has ever happened to the field of Finance.

The Practical Guide
Compared to many other Corporate Finance books I enjoy this one for a structure of the presented material , clear explanations supported by real examples, concept checks , odd numbers answers (provided at the end of the textbook) to the exercises. Definitely it gives me a guidance to handle many everyday cases.
This one is the first Corporate F. book I used to study without feelings of something boring , abstract , overloaded by awesome math.
I would give 5 stars if Online Study Tools had items: "eGrade Self-test" , "Business Extra" materials (as specified - Coming Soon!) and (to many Chapters)- "Additional Readings" from business articles / websites.

Excellent in Content Simplicity to a Complex Subject
I have used the previous edition, and could not wait to received the updated (2001) edition. The book is well written for the layman, but yet challenging enough for the pro. The information is timely and comprehensive but most importantly, the examples and the numerical and mathemetical demonstrations are meaningful and easy to follow. In effect using this text suggests that one gets two for the price of one, that is, a Finance and a Mathematics/Statistics exposition for the price of only "corporate finance."

Readable, but lacks a clear presentation of key principles
This is my first corporate finance textbook at the graduate level. Damodaran's presentation is straight-forward in terms of its logical order, and his language is very readable. My key complaint -- and it recurs throughout the book -- is that the author does not clearly lay out theory before moving into detailed real-world applications. As a result, often the reader is left reverse-engineering key concepts from case studies. The first few times you have to do this, it seems challenging, but by the tenth or twentieth chapter you've had it. It's got some elements of a great book, but because of its lack of clarity I can only give it 3 stars.

Wonderful book!
The concepts are easy to understand. The author provides many examples to illustrate how the theory works. I recommended this book to my friends who are interested in finance, and at least 16 people bought it through amazon.com. ... Read more

Book Description

Comprised of three information-packed parts, Pairs Trading presents an in-depth look at the various aspects of these strategies and provides quantitative tools to assist in their analysis. The first part of this comprehensive resource sets the context for the rest of the book by introducing preliminary material on some key topics, including time series, factor models, and Kalman filtering.

After presenting the broad ideas and concepts of this trading method, Pairs Trading delves into two different versions of pairs trading in the equity markets–statistical arbitrage pairs trading and risk arbitrage. Part II of this book details statistical arbitrage pairs trading, which is a relative value arbitrage on two securities based on the premise that there is a long-run equilibrium between the prices of the stocks comprising the pair. Part III moves on to illustrate the trading techniques and strategies associated with risk arbitrage–the widely practiced arbitrage technique that involves pairs trading arising in the context of corporate events, especially mergers and acquisitions.

Written in a straightforward and accessible style, Pairs Trading provides a framework that will allow you to boost the bottom line of any portfolio. ... Read more

Book Description

The purpose of this casebook is to provide students with an opportunity to bridge the gap between learning concepts in a lecture setting and actually applying them on the job. By using these cases, students can be better prepared to deal with the multitude of problems that arise in the practice of healthcare finance.

Benefits:

Four new cases have been added, focusing on marginal pricing and outlier protection, activity-based costing analysis, analysis of the use of physician extender, and evaluation of two competing technologies, including backfill and replacement project analysis
Cases can be used at both the introductory and advanced levels
An Excel disk with useful spreadsheet models is included in this book
This book is 20% off when purchased with either Healthcare Finance or Understanding Healthcare Financial Management ... Read more

Book Description

Praise for International M & A, Joint Ventures & Beyond

"The Second Edition of International M&A, Joint Ventures, and Beyond is superb. David BenDaniel, Arthur Rosenbloom, and James Hanks Jr. have assembled informative, comprehensive, and reliable source materials for cross-border merger and acquisition transactions. These materials will benefit those of us who are engaged daily in the international arena as well as those who are introduced to such ventures for the first time."
–Arthur M. Siskind, Esq., Senior Executive Vice President and Group General Counsel, The News Corporation Limited

"In their second edition of International M&A, Joint Ventures, and Beyond, BenDaniel, Rosenbloom, and Hanks update readers in business, law, and academia alike on what it takes to get sound cross-border deals accomplished. This book is a must for practitioners and in courses covering cross-border business transactions."
–Alan Patricof, Chairman, Apax Partners, Inc.

"A thoughtful compilation of topics, authors, and points of view that is as useful to the novice as it is to the experienced practitioner. Rosenbloom and BenDaniel, now joined by Hanks, are there when you need them."
–Arthur Kowaloff, Managing Director
BNY Capital Markets, Inc.

"This is an excellent set of materials on cross-border business combinations–the best that one can find anywhere. The authors are leading practitioners and academics, and their unparalleled expertise shows in this fine work. The topic is, of course, of ever-growing importance as integration in the world economy continues at a rapid pace."
–John J. Barcelo III, William Nelson Cromwell Professor of International and Comparative Law, and Director, Berger International Legal Studies Program, Cornell University ... Read more

Reviews (3)

Good summary
The book covers the accounting, legal, tax and financing aspect of international merger and acquisition activities. There are 15 chapters, with each chapter contributed by different author. The continuity is not good. The lack of real world M&A cases is the major drawback of this book. At the graduate level, the book is still useful as a checklist.

Very Useful.
A very useful companion to the main text. Provides a substantial amount of additional material, such as Q&A on the text, Q&A on real-life examples of mergers and acquisitions, sample forms, checklists, and an additional reading list. I highly recommend it.

excellent overview
This is an excellent resource with helpful checklists and quick overviews on points to considering when structuring an international deal. Chapters on legal aspects of international joint ventures (Robert F. Ebin) and International Project Finance (Scott L. Hoffman) are top-notch. I highly recommend this to anyone "doing the deal." ... Read more

Book Description

Money and Capital Markets 8/e by Peter Rose provides a thorough and comprehensive view of the whole financial system.All the major types of financial institutions and financial instruments present today are discussed, along with how and why the system of money and capital markets is changing.Money and Capital Markets also provides a descriptive explanation of how interest rates and security values are determined.It discusses the current and future trends of the globalization of financial markets, the ongoing consolidation of the financial institutions’ sector, and recent efforts to protect consumer privacy in the financial services field. ... Read more

Reviews (1)

Ok review and introduction
The book has a lot of detailed historical information about the financial systems. Unfortunatly the author pay too much attention to history and not enough on practical fundementals. There are several errors and steps deleted in the book. Plus not enough examples are provided in comparrison to the problems assigned. Even my professor stated that the 7th edition had plenty of problems that won't be resolved until the 12-13th edition. ... Read more

Book Description

This is the first volume in a two volume sequence providing the foundational material on Stochastic calculus models in finance. This first volume is suitable for discrete-time finance. The only pre-requisite is standard calculus; may aspects such as martingales and change of measure are treated in detailed depth. Probability is covered in detail using the binomial model.

The book will be suitable for advanced undergraduate courses and beginning masters-level students in mathematical finance and financial engineering. There are exercises and examples throughout and summaries at the end of each chapter. ... Read more

Book Description

Praise for Building Financial Models with Microsoft Excel

"Scott Proctor offers a comprehensive and easy-to-understand guide to constructing and using financial models; I recommend this book as a tutorial and a reference for business professionals, entrepreneurs, venture capitalists, and angel investors."
–Jack M. Gill, PhD, Vanguard Ventures

"This book is about making good decisions. . . . The modeling tools described in this book establish an analytical framework which adds much needed clarity to effective decision-making. This in-depth guide should well serve experienced professionals as a reference and business students and entrepreneurs as a tutorial."
–Eugene V. Fife, Retired Chairman, Goldman Sachs International

"Excel has become a critical element for decision-making in the modern business environment.Mr. Proctor’s book is a solid introduction to utilizing this complex tool."
–William Polk Carey, Chairman and Founder, W.P. Carey & Co. LLC

"Readable, comprehensive, and engaging–buy this book; study it; and thereby build your capacity to harness the computer in the solution of real-world business problems."
–Robert F. Bruner, Distinguished Professor of Business Administration and Executive Director of the Batten Institute, Darden Graduate Business School, University of Viginia

"Proctor provides a thoughtful and coherent link between financial/accounting theory and common Wall Street practice by addressing key questions in financial modeling like what to build, how to build, and how to analyze."
–Reid Nagle, Chairman and Founder, SNL Financial LC

"This book offers an excellent guide to building financial models. Proctor guides readers through the many interrelated steps involved in constructing and using financial models, a vital skill in today’s business world."
–Jeffrey Nuechterlein, Managing Partner, Isis Capital

"Building Financial Models with Microsoft Excel takes a complex but critical subject and presents it in a concise, easy-to-follow fashion. This book is an indispensable reference guide for anyone who needs to build or analyze financial models using Microsoft Excel."
–Michael R. Lincoln, Partner, Cooley Godward LLP

"A get-serious, get-gritty modeling enabler that is thoughtfully written and executed."
–Robert Albertson, Principal and Chief Strategist, Sandler O’Neill & Partners, LP ... Read more

Book Description

A storm is coming - an inflationary "perfect storm" whipped up by skyrocketing oil prices that will lay waste to millions of portfolios if investors don't prepare. Renowned financial analyst Stephen Leeb asserts that in this perilous period, oil prices will drive all other economic indicators.This book will show you how to diversify yourself away from potential disaster! ... Read more

Reviews (19)

The Oil Factor is an eye opener. It is a must read for all.
"The Oil Factor" is the best, most informative, investment book I have ever read. It's both frightening and encouraging but most of all I feel it is entirely truthful and accurate. It's frightening because it has convinced me that the world is probably going to be in the middle of a major energy crisis much sooner than anyone is talking about. As it explains, rising oil prices can lead to either inflation or deflation - it depends on how fast prices rise. But it's encouraging because it tells you how to prepare for each different scenario and how you can make money and protect your assets no matter what happens. It's really well researched and well written and it tells you what you need to know, without wasting words or time on unimportant matters.

Just buy it
To paraphrase an ad, "just buy it." I'm a pretty sophisticated investor, and I read all the financial papers and have read a slew of investment books. Most of them have been disappointing; they stress the obvious, they're misleading, or they're just not very informative. This book is totally different; it's one of a kind. It contains an amazing amount of relevant information, boiled down so as to be completely understandable without being overwhelming. The Leebs point out a key reality that should have been obvious but that investors and analysts largely ignored in the 1990's tech boom: energy is the key to our economy, and the energy we've depended on, oil and natural gas, is finite - and production of it is going to be slowing down. This will lead to a sustained uptrend in oil prices. The Leebs explain what this means to investors - specifically, buy not just energy stocks, but gold, defense stocks, and other industries that benefit from inflation. They also explain how to protect yourself against deflation and why that's so important. And there's no hype in the book, no effort to create some easy-to-sell but unreal doom and gloom scenario - just a patient outlining of what really counts. As I said, just buy it.

Make real money
Perhaps the strongest comments I can make about this excellent book is to note that the only negative comments about the book strongly support the Leebs' argument. Read the one star review "an interesting piece of fiction" to see what I mean. Here a putative reader from Champaign Ill compares the Leebs to Rachel Carson and Paul Ehrlich. You have to wonder why this is negative. Carson's arguments changed the way we look at the environment and that Ehrlich continues to write provocative works as a chaired Stanford professor says it all. If you want to tear down an artist by comparing him to Picasso, you are saying a lot more about yourself than the artist.
The same reviewer notes that worldwide oil reserves have been raised to slightly over a trillion barrels. Again were that the case then the Leebs' arguments and I am sure they would agree would be even more telling as a trillion barrels would imply that we are already past the half way point and that oil production has likely already peaked. My guess is that Leebs would place current reserves closer to 1.2 trillion, which would be consistent with peak in oil production within the next two to three years.
I have to admit I am curious about the identity of the reviewer, who professes a familiarity with the Leebs's newsletter and notes its poor past performance for making predictions. I have been reading Stephen Leeb's newsletters for many years and would place them among the very best. Curiously the only letter the Leebs (husband and wife) have done together is the most recent one, The Complete Investor (TCI), which recently won the award for the best financial newsletter. However this newsletter is still less than a year old. Yet the reviewer claims TCI- despite its award winning performance - has a poor long-term record. Curious to say the least. Clearly this reviewer has an axe to grind. Maybe I am being too clever here but I can't help but note that the reasoning (very poor) and style (flippant) of the comments are not dissimilar from those of Leeb's former newsletter Personal Finance, which since Leeb has left has gone down hill in a big way. I dropped a 15 year subscription to it about six months ago.
I conclude by saying again that if the worst you can say about a book turns out upon closer analysis to support the book, then the book is probably a darn good read. I believe that Leeb, though not always right is one of the most prophetic and provocative thinkers on the investment scene. This book has a decent chance to become a true classic and I rate it a must read.

get this book
It is speculative for the layman to predict global peak oil, but the fact is that human population and energy consumption grow exponentially, while oil production is linear. Only a matter of time. I find it highly coincidental that all the world's "terror" problems are concentrated in the exact same regions where all the important oil reserves are concentrated.

Best I can make of the Iraq War II is that our government and armed forces are securing cheaper oil by annexing it, than if we had to buy it on the open market, competing with the likes of Europe & Asia.

If you think ole King Hubbert was onto something, get this book for ideas on how to profit from it.

Geologically Right, Financially Half Right
I've followed the oil depletion problem for a few years. What the Leebs predict is already happening, it's not some crazy doomsday scenario. U.S. oil production peaked in 1970, Russian production peaked in 1988, U.K. production peaked in 1999, and total world production may have already peaked in 2000. Nothing but a trickle will flow from ANWR or the Caspian Sea or South China Sea according to the latest geological reports. I agree with their suggestions to buy precious metals, but disagree with some of the other contentions. They believe that the Fed will keep interest rates lower than inflation in order not to burst the housing market. They point out that even long term interest rates were lower than inflation during much of the 1970's. The thing is, the housing bubble will burst due to rates the Fed does not control, namely the 10 year treasury bond rate which is market controlled. And no way will long term rates lag inflation like they did in the 1970's. Back then it was assumed the inflation was just a temporary phenomenon, which it was. Here we're talking permanent rising oil prices. Also, a staggering debt load does not mean that the u.s. economy will be forced to grow. Japan's debt soaked economy went through a decade with 1% annual growth and actual deflation. Lastly, keep a large portion of your portfolio in buy and hold positions despite what the Leebs insist. Not only do you avoid having to contend with timing the markets but the taxes and fees will crush you if you try to time too much. Best bet is to diversify into precious metals, real estate, REIT's, stocks, bonds. No matter what happens at least one of these sectors will benefit. Personally, I believe that if oil production declines 3% a year as demand rises 2% a year as some contend is in store, soon we'll be looking at World War III and it might not matter how rich you are! ... Read more

Book Description

Since its inception, the market for credit derivatives has shown impressive growth and is expected to hit a volume of more than $4.8 trillion by 2004. Credit derivatives have begun to transform modern banking; they have become a standard instrument for the management of default risk; they are being used for risk management and hedging as well as for speculation, balance-sheet management and regulatory capital purposes.

Despite their great usefulness, even established professionals often feel insecure when it comes to the quantitative analysis of the prices and risks of credit derivatives. Confronted with a bewildering variety of fundamentally different pricing approaches, it can be very challenging to understand their relative advantages and disadvantages and to choose the "correct" one for the problem at hand.

In this book, the author carefully explains the different pricing models for credit derivatives in a very application-oriented way. Based on his wide experience in professional training for credit derivatives analysis, the models are developed with a view to their application to real pricing problems rather than just presenting the theory.

Philipp Schönbucher is one of the most talented researchers of his generation. He has taken the Credit Derivatives world by storm. In this book he carefully explains the concepts and the mathematics behind all of the most important and popular credit risk models. Professor Schönbucher has filled an important gap on the quantitative finance bookshelf. –Paul Wilmott

The reader is presented with a clear, concise and readable treatment of credit pricing models that will appeal to practitioners and academics. It provides a useful roadmap to the many daily challenges that face practitioners. It will become a standard reference.
–Stuart M. Turnbull, Senior Vice President, Fixed Income Research, Lehman Brothers, NY

"This is the most comprehensive, and also the clearest, book on the details of constructing credit risk models that I have read. Throughout, it is directly useful for general value-at-risk credit modelling as well as its stated focus of credit derivatives. Readability is greatly enhanced by its step-by-step organization across what has grown to be a large topic area and the focus of its single author, as opposed to a collection of disjointed papers. Alternative modelling frameworks are written in a common notation and the reader is given all the details needed for direct implementation. The author, Philipp Schönbucher, is clearly one of the top researchers in this area, even before the writing of this book." –Greg M Gupton, DefaultRisk.com

"Philipp addresses a wide range of modelling issues in the fast growing market of credit derivatives. He covers a broad spectrum of topics starting with the simple everyday trading tools while gradually building up to the more complex mathematical models. It successfully bridges the gap between academia and practice in an elegant and easy style, making it a valuable book for a wide audience"  –Ebbe Rogge, Product Development Group, Financial Markets, ABN AMRO
... Read more

Reviews (6)

Amongst the best of a bad lot
The state of theory is in such tremendous flux at present with a majority of research unpublished and a growing consensus that the state of the art is entirely inadequate. No book could possibly please industry researchers at this point, but Philipp contributes some ideas and clarification here and there and some leads which are valuable. He is perhaps a little dismissive and pessimistic when the theory wanders into hard mathematical problems, and to to a large extent his book ends where the fun stuff begins. Nontheless I would recommend, especially to those entering the field.

Academic's Imperfect Idea of the Market
This book on credit derivatives models is written by an academic without a feel for how the market trades in practice. Schonbucher presents the mathematical equations without expanding on the meaning of the models or their application.

There are some errors of fact when he discusses how certain products work, such as first-to-default baskets, a serious error in and of itself, but unfortunately there are additional similar errors which show the author has an imperfect understanding of the market he writes about. All in all this book was an unsatisfying treatment of the topic.

Models in theory
Nice equations, but hasn't kept up with Ph.D.'s who work on Wall Street and know the theory, thoroughly understand the products, and can apply practical but theoretically sound compromises to accommodate reality. Ph.D.'s at work in finance - including myself (physics) - are probably too busy to write the definitive modelling book. This book fails to address key ingredients such as daycounts, settlement conventions, documentation asymmetry, and more.

Informative, Rigorous, Excellent
The book covers the basics of credit risk modeling and derivative pricing (both structural and intensity type of models), explained in a clear style with enough detail to enable implementation (a rarity in financial literature!). Basics of the theory of stochastic processes and risk-neutral pricing are also covered. Calibration methods for the models are clearly explained. Due to the limited scope, some topics are given only cursory coverage (Copula function methods, role of interest-rates models etc.), but even then, enough references are provided. A very useful, concisely written tome!

Good Model Overview
This is a fine overview of credit derivatives modeling. The model explanations are good, but the book may have benefited from more disclosure about data limitations and the current sources of data. Value dislocations due to documentation language are not captured by the models, especially in the light of ISDA's 2003 language changes. More detail on applications and the need to deal with risks introduced by specific structures would also have been helpful.

Curiously, there are a few conventions inconsistent with market practice used in this book. For instance, the author defines credit risk as default risk, ignoring the standard definition of credit risk which includes general credit spread widening, and credit downgrades. It also seems the author is unfamiliar with how first-to-default baskets are traded, and seems to think that premiums of the survivors are paid after a first-to-default event (They cease.). These observations aside, this is a long-awaited reference for credit derivatives professionals.

For the above risks, I recommend two other sources. Applications and documentation risks are clearly explained in Tavakoli's "Credit Derivatives" (2nd Edition). For professionals who want to know how to apply derivatives in structured finance, I highly recommend Tavakoli's just released book: "Collateralized Debt Obligations and Structured Finance". ... Read more

Book Description

A complete, practical guide to managing restaurant business finances
One of the keys to a successful restaurant business is strong financial management. This book equips readers with the tools needed to manage the finances of foodservice establishments effectively. Written by expert authors with extensive experience in the field, this accessible resource is filled with valuable information that can be applied to day-to-day operations. It offers concise, down-to-earth coverage of basic accounting topics-including pricing, budgeting, cost control, and cash flow-as well as more specialized information, such as how to establish menu prices. ... Read more

Reviews (1)

Helpful
This book provides confidence for people out here (like myself) that are considering starting their own business. No other texts on the subject have covered the pertinent issues as comprehensively as I would have liked. Very information and truly helpful. ... Read more