Book Description

You've been screwed.

You've been bludgeoned, skewered, crushed, mutilated by the stock market. Every day you read about another corporate scandal: loans to CEOs that didn't have to be repaid, accounting "irregularities," profits that never existed. You think the stock market must have been rigged. And you're right.

You were betrayed by the stock promotion machine -- the mutual fund managers, the brokers, analysts, strategists, and stock gurus who brainwashed you into buying and holding and believing that stocks, like parents, always come through and bail you out in the end.

So now what do you do? Where do you put your money? You can't just leave it in the bank or stuff it under the mattress.

For fourteen years Jim Cramer ran a hedge fund that compounded money at a rate of 24 percent annually after fees, and then he got out at the end of 2000. He knows that there are ways to make money, smart ways that don't require you to own stocks blindly. There are other investments that won't send you to the poorhouse.

This book will tell you what went wrong, who the bad guys were, and what you have to do to restore your financial health. You can't just close your eyes. Ignoring Wall Street isn't the answer. Cash alone isn't the answer. This book has the answers. ... Read more

Reviews (30)

Getting Streetwise
This work by Jim Cramer is a short depiction of the recent tragedies of Wall Street and many of the events which collaborated to help them bring down the Stock Market. This overview will help any reader understand what happened and why. Jim takes each case and explains what went wrong and how individual investors can better recognize bad companies and nasty business practice. The final section is a short recommendation of trading strategies through diversification, balance sheets and other tools to help one understand the benefits and pitfalls of investing and make wiser decisions through their use. This book is a fast read but should be reread several times and it's lessons never forgotten.

Sweet and Short
I have undergone usual love-hate type feelings towards Cramer multiple times. It is really diffficult to understand him, especially when he was writing his trading diary on realmoney.

Now that the greatest bear market is (probably) over, and I lost my share of money in it, I understand what Cramer was saying back then. I mean in 2000. In March. In 2001.

This book is small, and I had missed a lot of games that wcom and enron played with unsuspecting people. I was already out of markets as I could not survive earlier waves of selling.

I went back and read Cramer's writings in March, 2000. Most people think he is just a pumper - I was surprised that he repeatedly urged people to get out of markets - "cash is king" was his mantra during the bearish cycle. And he nailed it both, the great bull ride and the bear ride, with almost correct timing.

You can hate him, he did what he had to do at his hedge fund, a lot of what may be immoral - he had to, it his job. But his writing has been on the mark - you can't deny that.
As for the plug, he mentions thestreet.com few times which is a FREE news site. I do not recall him mentioning realmoney.com ever in this book, which is paid content. At the end, he just "mentions" his own investment product "alerts", but that is only if you want to do it with him. His first choice is always a seasoned investment adviser whom you can trust.

I am not his employee, just a general trader. I would now trust Cramer more than any other Wall St analyst or a journalist who doesn't know a thing about the markets.

Who's Screwing Who?
You just gotta love Cramer. Whether he's on his knees confessing to being a stock market addict or crawling across the table, ranting and raving on CNBC, he entertains, invigorates, and educates. But he's also a bull in the china closet - so now, after the 2000-2002 debacle, we get his condemnation of the whole Wall Street scene inscribed with the immortal words, "You Got Screwed," as he picks over the underbelly of the tainted beast. Yes, it's a short book, but that's its selling point: Cramer crams everything into something you can sit down and read in a couple of hours - and actually understand via his take-no-prisoners style. His brash attitude is more of the street fighter than the wood-paneled office executive, and this train wreck of a market comes alive with real personalities backed up against the wall as Cramer blasts them to bits. No words wasted. Just typical Cramer. You either love him or hate him, but you can't ignore him.
First he tells you why the system reeked and rotted, eventually collapsing under the weight of fakery and fraud. Then he ends the book by advising you how to never be caught up in Wall Street's self-serving ever again. And he does a good job of both.
His advice on how to protect yourself in the future is good, basic, Investing 101: "Admit the crash happened and move on, find a trusted financial advisor if you won't or don't want to do the homework yourself (he advises 2 hours a week), investigate and analyze companies prior to putting one red cent into them, forget 'buy and hold,' learn to read balance sheets, put emphasis on dividends, monitor insider and corporate ('buybacks') buying of their own stock, use P/Es to value stocks, always keep cash available, and avoid margin." Good advice from a pro who's seen and done it all.
Now the fun part begins. Mutual funds end up getting the brunt of the Cramer cannonballs. The game they played was "beat the numbers." The financial press loved it because it gave them "the reason" why the market was going up. Made they look smart. Cramer takes apart this silliness, exposing it for what it was - accounting gimmickry, pure and simple. All that the analysts and companies had to do was lowball the upcoming quarter, then "beat the number" by a penny, and we were off to the races. So why was the investing public taken in so thoroughly? "The public thought it knew all it had to know...Democratization (of stocks), however did not bring with it all the skills you needed to make good judgments for the long term. For example, no one provided the tools of how to read a balance sheet or assess cash flows. No one taught people how to spot red flags or how to tell if a company wasn't doing as well as you thought. And no one explained that stocks, particularly tech stocks, were high-risk pieces of paper..." (26)
Moving on to corporate governance, Cramer slams the looting of the treasury via stock options as corporate insiders served themselves a hearty dish of cheap stock, seemingly at no cost to the bottom line. Only later do we now realize that dog won't hunt either.
He indicts the SEC, the accountants, the corporate officers, the boards of directors, the media, the brokerage houses, the analysts, the academics...everybody except those whose money was being looted - the individual investor.
Cramer saves his strongest salvos for his slicing and dicing of Enron. His delivers an indictment of the whole political culture of the 90s with: "...maybe it was just everyone because Enron represented, not a simple fraud like WorldCom, but a wholesale breakdown of every aspect of the legal, accounting, governmental, and regulatory bulwark to keep corporate America honest." Sounds remotely familiar like another entertaining individual of the 90s who took shot at the same targets through humor. The comedian Seinfeld perhaps knew us better than we knew ourselves at the time, as his four scoundrels lied, cheated, scammed, and flimflammed their way through the decade - an era that produced a "something for nothing" attitude that seems to have permeated every facet of our lives, and emptied out our pocketbooks as well.
In the end, Cramer's diatribe is basically an intelligent, heart-felt cry for investor education. Education of investment techniques and strategies, and an understanding of ourselves. Learn that and you won't have to depend on a Cramer or anyone else to manage your finances, plus you won't get screwed by anybody either.

Could be a Five or a One
This is a short book describing some of the reasons why the tech bubble burst, the stock market tanked and how many companies lied, cheated and stole. It is a totally worthless book for any that are already seasoned in the business, however, for the neophyte or unlearned investor that has money on the line already, this book could prove priceless.

Some time back I reviewed a book called "Net Zero", also a book describing how the bubble burst. I wrote in my review that the problem with the book was that it was much to technical for the beginner, i.e. the guy that really needs to read it. So the simple fact that this book is short, basic and too the point, shouldn't be considered a negative unless you already know the information.

If you're considering putting money into the market for the first time, and you don't already understand why the market tanked and how certain parts of the industry are stinking thieves, then you'd be foolish to pass on reading it. It could save you a fortune.

For the dabbler, not the expert
There are quite a few terrible reviews for this book, mainly along the lines of "Gee, we already know this, duh!" But for those of us not watching the MSNBC ticker and dont bet our life savings on whether a share rises or falls, its quite informative.

He details not only the fall of Enron, but how and why the telecoms rose so high and burned out so brightly. He exposes the inner machinations of mutual funds and how the analysts really make their money. He even offers a bit of good advice on not falling into bad companies and avoiding risky investments.

I admit I wish there was more, and, yes, he did reference thestreet.com (his website) a bit more than is prudent but it was all in the spirit of getting the information out. All in all, the promises he made with the title and back cover of the book, he delivered upon. If you are expecting anything more than to know why your portfolio fell apart and a little advice on sewing it back together, check out another book. Otherwise, its worth the read. ... Read more

Book Description

"Put Option Writing Demystified" is the only book devoted exclusively to the subject of generating double-digit income returns from a little-known, often misunderstood and conservative investment opportunity known as "put option writing." In fact, it can be more conservative than simply owning stocks alone. And the good news is that this strategy works best during slow growth, flat or even slightly declining markets.

This book fully stands on its own merits, but it can also be viewed as a companion text to "Covered Call Writing Demystified" (see the book description on Amazon.com for more information). Hence the similarity in name.These are the reasons:

* Put option writing and covered call writing have essentially the same reward and risk characteristics…When used as outlined in the book, they are very conservative (unlike other uses of options)

* Investors using covered call writing will find opportunities to use put option writing to achieve similar double-digit investment results, but also to have the opportunity to purchase stocks or Exchange Traded Funds at a discount from their present value.

* The put option writing and covered call writing strategies can both be used within the same portfolio to achieve similar results by differing means, depending on the investor’s objectives regarding the individual stock or ETF in question.

What is put option writing?

Have you been tempted at times to buy a particular stock, but decided not to take the plunge because you thought it might be overpriced…or, just on a hunch, you thought you might be able to pick up the shares at a lower price? Not only might it be possible for you to buy that stock for less, but what if someone were willing to pay you cash today at a double-digit return rate and also give you the opportunity to buy it at a lower price later? Does that sound too good to be true? It’s not. It’s called "put option writing," and it’s available to you on literally thousands of stocks and Exchange Traded Funds (ETFs). Put option writing can be compared with placing a limit order to buy the stock or ETF of your choice at a lower price that you set…and then being paid for it. And, you get paid whether the stock falls to your price or not!

"Put Option Writing Demystified" is totally focused on providing (1) the education you need to fully understand the concepts behind put option writing and (2) a unique easy-to-follow program so that you can implement the strategy yourself without the help of a full-service broker or investment manager.

The book delves deeply into the subject of how to obtain double-digit returns from both out-of-the-money puts and in-the-money puts, with out-of-the money puts being the principal recommended strategy both for realizing the opportunity to achieve consistent double-digit investment returns while you wait to acquire stocks or ETFs of your choice at a discount to their present market value. It also provides short-term technical analysis tools to assist in guiding market forecasts and making even more profitable put writing decisions.

On May 3, 2003 after the annual meeting of his company, Warren Buffett (Chairman of Berkshire Hathaway) said to Maria Bartiromo of CNBC: "If you own equities, over the next twenty or thirty years you’ll get a reasonable return…maybe its 6%, maybe its 7%. People who expect 15% a year are doomed to disappointment."

If you believe that "The Oracle of Omaha" is right about a slow-growth market for decades to come, then everything that you need as an investor is here for you in this book to develop and implement a put option writing program that will help you achieve double-digit returns.

In addition to presenting everything you need to know about put option writing and how to implement your own personal put writing program the book provides:

* Use of a uniquely designed Microsoft® Excel spreadsheet for put writing to assist in reviewing writing selection alternatives so that the best decisions for you are reached to achieve your investment return goal.

* Details about brokerage accounts, with special emphasis on the use of online discount brokerages for quick, very low cost execution of trades. Web sites for brokerages, charting sources and other technical information are provided.

* Tax information you need for understanding and administering the income tax aspects of put option writing. This includes the opportunity for deferring taxation of income until a later tax year while enjoying the use of the income now.

How will the baby boomers be able to generate sufficient income on their investments to enjoy a secure retirement? And how will they and others younger than them be able to create a sufficient asset base to provide for their financial security with the dire predictions for the long-term future that we cannot expect markets to perform anywhere near as well as they have in the past?

With interest rates so low and a scarcity of acceptable investment alternatives available to investors, put option writing, as well as covered call writing, may offer two of the best possible opportunities to achieve consistent double-digit investment returns in the slow-growth market we seem sure to encounter ahead. ... Read more

Reviews (2)

Great Book
Dear Author!

Just bought two books from Amazon, Put option writing and covered call writing. Thanks, your books are very useful, I will recommend to some of my friends about these wonderful books

Thanks again,

Readers
Kenny

A TRULY AMAZING INVESTMENT IDEA!
I would highly recommend this book to any stock investor who is looking for some new ideas to earn back the money they've lost in the bear market. Who ever heard of being paid immediate cash to wait to buy stocks at a lower price? That's what this book taught me to how to do. It sounds too good to be true, but I know it works because I've done it after reading the book. I wanted to buy the Nasdaq 100 Trust (QQQ) at a lower price. Instead of just waiting to see if it went lower, I wrote put contracts on the QQQ at my buy price using what I learned in the book. I collected $485 in cash in my brokerage account the next day. The stock didn't hit my price, so I didn't buy it the first month, but I got to keep the $485, which was a 24% return on an annual basis. The next month I did the same thing (collected $625 this time). My price was hit and I bought the QQQ shares for 15% less than the price when I started this. In the meantime I collected $1,110 while I waited to buy my shares for 15% less. This is explained so well that anyone can do it. Nobody I know seems to know about this. It's all in this book. ... Read more

Book Description

FREE! The word and concept have been the advertising foundation for billion dollar corporations, the heartbeat of huge marketing campaigns, and the nexus between companies and customers for eons. Now, New York Times best-selling author Wade Cook introduces the LOCC(tm) (Large Option Covered Calls) system -- a system that can generate 80% to 100% returns for traders who master it.

"...you read the title to this book: Free Stocks: How To Get The Market To Pay For Your Stocks--FREE!, and what do you think? Is there a catch? I'll be right up front and say there is, but it's not what you think. ... There is a way to get FREE STOCKS, which if you get to the bottom line meaning of FREE, is simply that you do not pay for your stocks yourself. I'm talking about quality stocks...you get to choose! You can be as diversified as you want. ... you can pretty much start with any amount of money....

"...this is not a get-rich quick-plan. This is also not some ambiguous, nebulous method that only a few people can master and use. It is also not a theory. It is an in-the-trenches, workable, cash flow stock market money machine. This plan takes a simple yet overlooked aspect of the stocks and options markets and puts it to full use. The results are dynamic and far-reaching." (Excerpt from the book.)

If you like the buy-and-hold strategy of investing, how do you get the money to pay for your stock? Wade Cook demonstrates how to get the market to pay for your stock with five to seven months using his NEW LOCC(tm) system.

In Free Stocks, you will find out about:
* Option Cycles And Market Makers
* How Implied Volatility Affects Option Pricing
* Buybacks And Rollouts
* Stock Repair Kit
* How To Put Volatility On Your Side -- Be A Seller, Not A Buyer
* When You Get Your Money
* Exploration Of Ways To Increase Gains And Reduce Taxes
* What To Do If The Stock Dips -- Make More Money!

And you simply must see Chapter 2 where the Stock Market Institute of Learning, Inc.(tm) will award $10,000 to the charity of your choice if you find one person who has attended our Wall Street Workshop(tm), used our strategies exactly as they are taught, and then lost money.

Purchase Wall Street Money Machine, Volume 5: Free Stocks: How to Get the Market to Pay for Your Stocks--FREE today! Learn how to start building the portfolio of your dreams -- for FREE! Each book includes the Audio CD 'Completely Retire in 10 to 12 Months' and two complimentary tickets to a three-hour Financial Clinic. ... Read more

Reviews (40)

Get your stocks for FREE?
In Wall Street Money Machine Vol 5-Free Stocks: How to get the market to pay for your stocks-FREE Wade Cook introduces the LOCC (Large Option Covered Call) system. This system is a machine-a machine for generating consistent cash flow in sufficient quantities to better any lifestyle. A system that literally lets you get your stocks for FREE!

There is a saying that when something sounds too good to be true it usually is right? What's the catch you may be asking yourself. Is there a catch? To be brutually honest, yes there is, but it's not what you may think it is.

There is a way to get your stocks for free, which, if you get to the bottom-line root meaning of FREE, is simply that you do not pay for your stocks yourself. We're talking about quality stocks that you get to choose! You can be as diversifiedas you want. And get this-you can pretty much start with any amount of money you have.

This is not a get rich quick plan. Nor is this some ambiguous, nebulous method that only a few people can master and use. It is also not a theory, but an in-the-trenches, workable, cash flow stock market machine. This plan takes a simple yet overlooked aspect of the stock and options markets and puts it to full use. The results are dynamic and far-reaching.

LOCC has a beginning, middle and an end. It puts the emphasis where it should be; on generating income so you can retire. Yes, huge assets are nice, but let's go for simple ways to build steady monthly income so we can do more of the simple yet wonderful things that life has to offer.

If you like the buy and hold strategy of investing, in FREE STOCKS, you will learn how to get the market to pay for your stocks in 5 to 7 months with the LOCC system.

In FREE STOCKS, you will learn:

- Option cycles and market makers
- How implied volatility affects option pricing
- Buybacks and Rolloouts
- Stock Repair Kit
- How to put volatility on your side
- Be a seller, not a buyer
- When to get your money
- Exploration of ways to increase gains and reduce taxes
- What to do if the stock dips-Make more money!

Finally, if you followed more traditional forms of investing and lost a ton of money in the stock market over the last three years, FREE STOCKS may be just what the doctor ordered to get back on track and make that money back.

During the Bear Market of the last three years, I and others used the strategies in FREE STOCKS to recover losses on deep dips. Question: How much money did you lose by not knowing these strategies? And how much money will you lose by not applying these strategies going forward?

Get the book. It's a must read!

Options? Terrific! Wade Cook? Fantastic!
I completely disgree with the reader from Austin regarding his comments on Wade Cook and his latest book: FREE STOCKS.The examples Wade uses in his book are dated back to 2000. Stocks have dropped and option prices have changed. Margin is not a bad word---it's a form of leverage that creates wealth. Since the reader is familiar with Robert G. Allen, he should be aware that Mr. Allen also recommends leverage. So does Donald Trump. So do all successful investors.Returns are not unrealistic. This reader from Austin needs to go to the cboe and check option prices. The genius of Mr. Cook is that he uses real estate type techniques in the stock market; options, margin and covered calls. Throught out this and other books by Mr. Cook, he constantly suggests caution.I made 50% on a stock split play earlier this week and am now using the LOCC FREE STOCKS technique and have the stock market pay for my stocks. Again this is straight out of real estate, buy a piece of propery and have it pay for itself by lease options or rentals.Reader from Austin is obviously very inexperienced in the markets and didn't take the time to read the whole book. Too bad for him.

More creative advice by Mr. Cook
Although the techniques in this, the fifth installment of the WALL STREET MONEY MACHINE series were and are practiced by savvy wall streeters, how many were sharing these ideas with the rest of us? Answer? Only one--WADE COOK!

And that is the only thing that I will agree with regarding that Wade Cook basher (yeah, it really is only one guy), that is, what Wade teaches is not necessarily new, savvy experienced investors knew about them and unforunately, they want to keep it that way---to themselves.

Thanks WADE for sharing.

When they say it's too good to be true..........
It usually is, except with Wade's book FREE STOCKS. It really works! How do I know? I've done it! Great stuff. Thanks Wade!

More powerful advice from Wade
I love the word FREE. Something special about that word FREE. In Free Stocks, Wade Cook uncovers even more insider secrets on how to turbo charge your stocks. Funny, I was talking to a seasoned 25 year stock market veteran and he says he has been doing this for years and was a little taken back that WADE COOK so the masses could learn and benefit from this.

We should all be grateful that a guy like Wade Cook is around who shares this wisdom.

FREE STOCKS is a powerful book that can turbo charge your investments and give you POWERFUL RETURNS.

Great book. Highly recommended. ... Read more

Book Description

Personal Finance for Overseas Americans is a personal finance guide written for Americans who live overseas, or plan to. The basics of financial planning and money management are included, but so are many little known and little understood aspects of financial life for Americans living outside of North America. ... Read more

Reviews (7)

Deceptive Title
A better title might be: Basics of Personal Finance

I did not find this book helpful at all with regards to the financial considerations of moving and living abroad.

Solid, concise advice for expats
For those of you who live abroad but often times find yourselves too busy to pay close enough attention to your finances, this compact book is for you. I've lived overseas for over 15 years, and Ms. Frew's book helped me better grasp not only the basics I needed to better understand my investments, but also more advanced taxation and retirement issues. I found the worksheets particularly useful. Bottom line is that if you live abroad and don't have time to take a seminar in personal finance, you'll find this book to be a great primer, and a useful resource.

Little to do with liviing abroad
I couldn't have been more disappointed by this book. It was 95% basic finance topics and 5% dealing with finances for living abroad. And the 5% was so basic that it was barely worthwhile. Not only was the book mistitled for it's content, but the style was condescending and repetitive. It's the first time that I'll be returning a book to Amazon.com

The Fundamentals of Managing your Finances from Abroad
Barbara Frew covers all the fundamental points and strategies for managing your finances - whether abroad or in the U.S. The distinction between the two is increasingly that, while abroad, you cannot go to see your bank manager and must rely on other resources for advice. Personal Finance for Overseas Americans is that other resource. Ms. Frew covers the big picture - putting first things first - without forgetting to plan for retirement and unexpected events that may happen when you are away from your hometown. The expertly designed book takes you through all the steps from getting your life in order to planning your future in terms that do not assume anything about the reader. Readers with some background in the field will read the book for the expert advice while novices will learn the basics of their own financial health, how the worlds of banks and insurance work and how to review your own financial situation. After reading this book you will be ready to plan and monitor your financial health and to enjoy living overseas without wondering how you will fare when you come home.

Covers the Basics Better than the Overseas Part
I found this book heavy on the basics of financial investing, planning, and taxation and very light on specific financial information relevant to overseas living and American expats. I think the author would be well-served to assume most expats have some basic knowledge about finances (i.e., what is a stock, etc.) and dig much deeper into the complex world of expat finances. ... Read more

Book Description

THE GREAT BOOM IS COMING

How and where we work and live is about to change drastically. In The Roaring 2000s, Harry S. Dent, Jr., one of the world's most prescient forecasters, turns his visionary eye to the full spectrum of possibilities that will follow in the wake of a burgeoning turn-of-the-century economy. Dent identifies opportunities, explores trends, and makes concrete predictions. Among them are:

A Dow that will reach at least 21,500 and possibly 35,000 by the year 2008
The rise of "gazelles," small- to medium-sized, high-growth companies that are now creating most of the jobs in the country
The Eight Critical Technology Trends Changing How We Live and Work
The New American Dream -- why changing technologies could mean a return to small-town living, and the nine types of boomtowns that will offer the highest quality of life
The New Network Corporation, which features leadership at the center rather than management from the top, and human browser teams that represent customers by connecting them directly to servers or specialized products and experts. These organizations are fast, responsive and entrepreneurial
The Seven Principles of Successful Investing

For anyone who wants to take advantage of these invaluable, emerging opportunities. The Roaring 2000s is a necessary guidebook to a not-so-distant future. ... Read more

Reviews (85)

Share market and real estate
I think the basic assumption about the impact of the baby boomers is correct, but where Harry went wrong is that he encapsulated the "message" by focusing exclusively on the sharemarket. If he had said that assets, viz average share prices and average property values, will quadruple by 2008, then he will probably be right. Unfortunately he said words to the effect that the Dow Jones will go from 10,000 to 40,000 by 2008. What he didn't properly explain was that in some years real estate will go up, and down, likewise the share market. Together, over the period 2000 - 2008, the combined value will quadruple. His thesis is correct; it was the catchphase that was wrong.

How this guy ever got published is a lesson in itself...
How this guy ever got published is a lesson in itself!
I read this book back in 2000 before the crash and agreed with
some of his reasoning as to the mechanics and ideas which would be implemented in the New Millenium, but disagreed with his
belief that there would be such great prosperity,as history ALWAYS repeats itself.
But alas, no one wants a pessimist. Then he came out with the "Roaring 2000's Investor", which again was creative and showed brilliance, but proved to by flawed on many levels. Now he has another book slated to come out

"The Greatest Bull Market in History: 2003-2008: Investment, Business and Life Strategies - For the Great Boom Ahead and the Great Bust to Follow"

If his past predictions are any indication, this title itself is already filled with hindsight and error. I can tell you there will be no sustainable bull market on any of the indexes for at least the next decade.

I must admit I would like to speak with this guy. With a few real life experiences under his belt he may really hit the target, but so far the best title for a book would be "The Roaring 2000's: How to prosper by making the best seller list by publishing books that make people believe you have the answers."

Lession #1: Don't put dates in the titles of your books that try to predict the future"

What is your opinion of the economy?
It is amazing how everyone has a prediction about the economy, but few will have so many predictions come true. Start with Mr. Dent's first book "The great boom ahead", how did Mr. Dent know the deficit would be wiped out by 1998? Furthermore, I encourage the reader to really study the dow channel. Regarding the Roaring 2000's, I would encourage the reader to read (by the way this was published in 1998) page 296 "remember 2002 could see a substantial correction for adding to stock positions." Furthermore, turn to page 305 "the best years in the stock market and economy should come from late 2002 into...." The last piece of evidence you will find on page 52 "The Roaring 2000's will parallel the Roaring 20's on a two generation or 80 year lag." Do your own research, look at the chart of Intel July 1992-July 2002 and General Motors February 1912 and February 1992, you will find they overlay exactly, exactly 80 years apart. Enough said.

This time around Dent's predictions are completely wrong.
Harry Dent poses as an economist but he is not. He also poses as a demographer but he is not either. As a consequence, he develops sweeping broadbased theories without solid scientific foundation. His main theme is that the large Baby Boom generation is going through its peak spending years during this decade, and as a result it will sustain an economic and stock market boom until 2009. He concludes that it is almost certain that the stock market will earn 10% and above returns throughout this decade.

However, when you look at the record so far, Harry Dent's prediction in 1999 for the first decade of 2000's is way off. The ink was barely dry on his book when the stock market actually peaked (first quarter of 2000) and then tanked. The stock market then suffered a three year bear market. Current outlook for the stock market is for increased volatility, but reduced growth in the single digit range (not the double digit range, Dent predicted).

Dent missed a lot of things. Some of them he could not have predicted such as heightened geopolitical risk, terrorism. Some other factors, he should have predicted. These included the overvaluation of stocks as a result of the Internet Bubble, the onset of World deflation associated with the flooding of cheap exports from China, the eventual slow down of the U.S. economy among others.

Dent also pauses as a futurist. In this role, he just repeats what Alvin Toffler stated in Future Shock almost 30 years ago. Technology will reform the workplace, will boost economic productivity, etc... Nothing new or informative here.

The only somewhat valuable part of this book includes several recommendations for successful investing, including:
1) Save at least 10% of your salary;
2) Use buy and hold strategies, don't try to time the market;
3) Use mutual funds to most efficiently diversify your holdings;
4) Use asset allocation. The greatest returns result from the correct asset allocation. Asset allocation should match your personal risk tolerance; and
5) Invest systematically not emotionally.

However, the author did not support these good investment strategies with adequate useful details. For instance, using a 401K is the best and easiest way to implement all of his five strategies mentioned above. Also, within his mutual fund recommendation, he did not mention the advantages of index funds (greater diversification, lower cost). Thus, he omitted much information for this section of the book to be as informative as it could have.

The Knaves and their New Economy
Harry Dent couples an investment advisory book with a piecemeal economic analysis of the dynamics of the so called 'New Economy' in the 21st century. The author Harry Dent may drool blissfully over his portfolio (which at the time 1998 was probably doing quite well) and see a world of compounding returns and infinite growth, but we live in a real world of scarce resources and measured productivity gains which usually grow marginally each year. One thing that I find anecdotal was the chapter on human development entitled the 'The Right Brain Revolution,' which appealed to the kooky materialism of Abraham Maslow. This was just a rehashing of tired humanistic theories over man's wants and needs.

First to give a background to this book: it was written in 1998-which in Greenspan rhetoric may be deemed a time of "irrational exuberance"-so not suprisingly the author was blissfully optimistically over a booming economy. In reality there was a long-term inflationary boom coupled with a strong market for IPO's and tech stocks. Of course, the speculative bubble burst. Contrary to the harbingers of infinite economic growth, there are no new dynamics to the so called "New Economy." If companies hemorrhage money on spending-showing no prospects for profit in their foreseeable future-than they'll probably be restructuring, going out of business, or solve their insolvency problem by merging with a larger firm. Generally, the present recession has made those who believe that there are some new rules to the game come to retreat from their Alice and Wonderland economics. Granted, we're not going to be in this recession forever contrary to the prophets of eternal economic gloom. However, there are NO new rules for a "New Economy" where profit margins can be razor thin, earnings simply non-existent and profit/equity ratios are absurdly proportioned. So, now we can come back to the real world of 2003, where high government spending and half-trillion dollar deficits crowd out the supply of credit and capital.

Dent is optimistic over the labor market giving way to 'entrepreneurs,' freelancers and temps. However, it is by no means a positive sign when corporations are taking the axe to their personnel that we're in for more prosperity. In addition, some of Dent's positive economic indicators and his analysis are erroneous. For example, he sees large population growth as some positive sign that with more people, they'll be more consumption and consumer spending. But consider that in recent years, GDP growth aside, actual productivity gains have been miniscule and sometimes actually losses over the previous year. Moreover, the population growth (chiefly fueled by immigration) far exceeds productivity growth. So how is this deemed a positive sign if they're less goods and services available on per capita basis? These factors which shade the real 'New Economy,' may suggest that we will be in the economic doldrums for a little while longer. Dent ignores substantive economic indicators, which even in 1998 could have foretold the present recession. If anything, it is quite tenable that the first decade of the 21st century may resemble the stagflation of the 1970s-where inflation and unemployment are high-though not with such severity.

All things considered, the blissful optimism and absurd economic logic so popular which fueled the speculative boom circa 1998 was but a foreshadowing of the present dreary state of economic affairs. The prosperity gurus will never be able to transcend common-sense economic logic with their gospel of eternal economic optimism. Then again, their perspectives are skewed in times of boom when all they see are compounding equity returns. It just seems when some people have a run of luck in the market, they have a tendency to have their judgment clouded in seeking out more 'easy money.' Some like Dent even hope to jerry-rigged the market with a psychology of perpetual prosperity. Anyway, Dent's bullish predictions have already been disproven. (I give it a pithy 0.5/5.0 star rating ... ... Read more

Book Description

New edition of the bestseller that started thousands on the road to commission-free investing!

It's been called "The investment guide Wall Street didn't want published," and it ignited the commission-free investment revolution! With Buying Stocks Without a Broker, Second Edition, Charles B. Carlson, CFA, thoroughly updates his unique guide to dividend reinvestment plans. Better known as DRIPs, these investor-friendly programs give you a safe method for buying stocks directly from issuing companies -- often with a discount and always without paying commission fees to brokers. If you want to own stock but resent paying commisions, you'll get the best of both worlds with this edition's...
*Directory of 1000 DRIPs -- with brand-new, enticing DRIP opportunities
*Thumbs-up/thumbs-down at-a-glance ratings of every DRIP on the market
*New corporate profiles and performance ratings
*New model portfolios using DRIPs
*Charles Carlson's favorite DRIP picks ... Read more

Reviews (11)

Excellent reference and guide for the $10.00 investor!
This book explains, in detail, the biggest investment secret on Wall Street- Dividend Reinvestment plans. Imagine- buying stocks without brokerage fees! This book tells you how- exactally how. Buying Stocks Without a Broker is a must for every small investor's library. This book can help you get into the stock market with a MIMIMUM of capital, as it describes companys, like IBM, with investment requirments as small as $10.00 per investment. A warning though; as some company's programs change, information in this book becomes inaccurate. Always first check with the company of interest as phone numbers and contacts are included in the book.

Helpful for the novice investor
This book was written before the likes of Ameritrade and E-Trade came along, and therefore is rather dated. The fees associated with most plans today and their minimum investments make DRIPs less attractive today then they were five years ago. However, for those who want to buy stock in companies and hold for ten or 20 years, they are worthwhile. Carlson writes in easy-to-understand language that a person not well-versed in Wall Street can grasp. Plenty of information on the company's listed along with telephone numbers and websites. Different kinds of portfloios are profiled so the investor can see what they can do with whatever funds they have to invest. The pros and cons of this kind of investing are listed so a person can decide if it is for them. It is a worthwhile read.

Helpful, But in Need of Updating
I first purchased this book years ago, and I have to admit at the time it was a revelation. I was trying to buy stocks and usually failed to do so simply because I did not want to pay broker fees and I was rarely in a position to buy 100 shares at a time (if you bought less, the stock price and the broker fee both usually went up). Back then, the book was a great aid. I still own a stock list in the book that I purchased thanks to this book.

But in many ways, this book has lost a lot of relevance. Now one can go online and purchase stocks in any amount with fees of as little as $3.00. And the fact that the book has not been updated since 1996 weighs heavily against recommending it be purchased by anyone today. Perhaps Carlson has not bothered to further update because of the ease with which stocks may eb purchased on-line.

Still, for someone who is a long term investor, it provides some choices as far as investing without involving a broker. And it is definitely an option if you have no desire to use the internet to make stock purchases. Just be aware that your options are limited; most companies do not offer direct purchase of their stock or Dividend Reinvestment Plans (DRIPs) to the public at large.

Disappointed
I bought the book hoping to learn a few more things about DRIP investing, and did not learn a thing! I am sure that the book was good when it was written (especially the first edition), but there is simply TOO much free information available today.

I gave the book a sympathetic 2 stars because Carlson is (or was) the DRIP guru.

Waste of Money. Out of Dated Investment instrument
I read this book and would say this is a non-sense book. Who would bother the hassle to read this book and buy stcok directly from a compay if an online transcation (e.g, datek, eTrade, etc) only costs you a tiny amount of money? The Price of the book allows you to execute two instant online transactions.

Don't buy it. Please. I have already wasted my money. ... Read more

Reviews (7)

This is no beginner book, let alone for the comp. idiot
If you are brand new to the world of stocks and options (like me), this is NOT the book for you. This book is 180º from "easy". Reading this has been an exercise in massive frustration. Every other sentence was greek to me, even from the first chapter onwards.

I purchased this book based on the customer reviews below. All gave it high marks. The mistake I made was not recognizing that most of the reviewers were already well versed in not only trading, but the language of trading. Furthermore, all of the other editorial reviews and quotes that I found on this book are from people in the business of stocks. This is like asking a Unix coder if a piece of software is "easy to use." They will not be able to give a true answer because they no longer remember what a beginner's mind is.

This actually may be a very, very well written book. The only error may be the incorrect cover and title, saying that it was written for the complete beginner, the complete and utter idiot. That is just not true. Scott Barrie may be the best options trader in the world, he may also be a brilliant writer. Neither of these qualify him to write a beginner's book. It takes extraordinary skills to take a complex topic and describe it so that anyone can understand.

Nice book
If you have to start somewhere it might as well be here. This book is one of a kind. It opens up the world of futures and options perfectly. The author, Mr.Barrie, doesn't hesitate to tell you about your risks potential. He emphasizes it over and over in fact. The only thing he doesn't develop fully is why futures and options are so risky.

In my 11 years as a futures investor, broker, and author, I have come to discover that leverage is the criminal that makes futures so risky. If Mr.Barrie had spent more time developing that along with some solidly proven money management techniques I would have given him a 5 star rating.

I don't advise options but if you do try them buy this book
I personally prefer stock, bonds, and mutual funds, but you can make a ton of money trading futures and options. As the author says "People can reap huge profits, or lose their shirts".

The book gives a very good overview of all the major markets, including history of futures trading as well as how large an order should be, the typical margin put up, and how volitle of and investment a particular futures market can be, like advising corn as a good starting point and staying away from metals. I also agree with that philosophy. Another thing the author does in explaing the markets that i like is that he informs the reader of all the factors that can influence price fluctuations and how to try to time your movements into and out of the markets based on these trends. I also like that he does admit that there is a time to sell a winner and to sell a loser to cut your loses instead of going deeper in debt. sometimes it is best to get out after your first margin call.

The thing that I think makes the book most valuable are the options strategies. These also work very well with stocks and some index funds. As the author states these are very limited profit potential, but there is also very little risk. If you guess the market pretty well then there is almost no risk. My favorite of these is also the most basic the straddle option. Here you can make money if prices go up on down, but not if they remain fairly consistent. You typically purchase and at the money call ( right to buy) option and an at the money put option ( right to sell)the only risk involved is the money that is initially paid for the option. Both are purchase at roughly the same strike price so if a price swing up or down will net the option holder some money. Their are other strategies such as the bear put spread, and bull call spread as well as married options were you are actually buying futures. I personally do not like the three becasue all involve selling an options contract which theoretically can have unlimited loss potential. Unless you are very experienced and have a good track record stay away from them.

In conclusion options and futures are very risky intruments. I would advise simply playing the stocks and funds, but if you like this market i would advise buying optiosn, the most you risk there is the amount you paid for the options, and there are no margin calls, I persoanlly know someone who was almost driven to bankruptcy becasue he did not know what he was doing and got into the futures market. I must admit though that the futures market intrests me more than and other area of finance and investing.

Simple clear and thorough
I have read a few books on futures and find many gaps in basic information. As I struggle to put the pieces together, this book was a breath of fresh air. Comprehensive, including interesting history of the beginnings of these markets. Thorough, including pricing, quote info, basic info on each commodity, financial, index, etc. You need other readings about options, but the BEST basic book on commodities and futures

At last a book that teaches someone how to use Seasonals
As a CTA, I'm always on the lookout for books that will help people learn to be better traders. Even though I'm a big believer in using the technicals, incorporating these seasonal strategies can only help one to have more winning trades and fewer losses.

This book was a real eye-opener for me and I recommend it to anyone who trades for a living or wants to learn to trade... ... Read more

Download Description

You're no idiot, of course. You can surf the Web with the best of them, and check the stock market online. You even did all your holiday shopping via the Internet. But when it comes to trading stocks and bonds, and especially making day trades, you leave it to your broker to call the shots. Don't make another phone trade! The Complete Idiot's guide to Day Trading Like a Pro shows you the secrets of going head-to-head with actual traders and brokers. You'll learn where the best trades are made, how to gain direct access to markets, and how to use the strategies of the top market makers. ... Read more

Reviews (8)

Read Book, Played A Stock Market Game, see results below...
First of all, the title of this book is PRICELESS. If I was a complete idiot (and I'm not far from it), I would want to start day trading and as a matter of fact, I did just that.

About half the information in this book describes the workings of the stock market. The other half goes into some information abou the ins and outs of day trading. I'm sorry, if you're going to start to day trade, shouldn't you already know about how the NASDAQ and NYSE work? Why spend half the book talking about it?

Anyway, I read the book and entered one of those mock stock market games. They gave me $500,000 and a margin account so that I can trade up to $1,000,000. The game was not really geared toward day trading, there were different limitations and they couldn't offer Level II quotes (for a free game) so I had to "Swing Trade". I kept some positions overnight but I used the techniques mentioned in this book. So, the result (drum roll please): I started with a half million, I ended with $365,000 (a $135,000 loss). I came in 3,700th place (ouch!).

Ah well, To All Idiot's Out There: Don't try this at home! :-)

Great Book For Beginners
This book is perfect for those of use who wan't to just get to know a little more about daytrading. Other books on the topic are much more advanced and assume that you already know a whole lot. This book is great for learning terms, concepts, and the basic ins and outs of the daytrading world. Beware of some typos and mistakes throughout. Otherwise, an excellent book.

Fabulous Starter-Kit
I think it's an excellent starter book for a novice day-trader. It defines a lot of relevent terms and gives the reader an overview of the trading world-Both about us and the professional, liscensed trader. If you study these chapters, you will defenitely SOUND like an intelligent and sensible day-trader.

The ONLY thing I don't agree with is the unimportance of the Level II screens, as the author purports. I think that level II screens are vital to know what the marketmakers real intentions are behind a stock. Does anyone concur?

(For those in the viewing audience who don't understand the last chapter, just pick-up this book!) I haven't finished reading the book, yet, but I think it's a terrific confirmation of what to expect as you begin to daytrade.

Complete Idot's Guide to Trading Like a Pro
Informative and well laid out. Based on the clearly explained steps in the book, I am finally emboldened to dip a toe into the (otherwise uncharted) waters if day-trading. Thanks Jennifer and Peter.

Very poorly written
This book is about a great topic ~ Day Trading. The author(s) seem to be relatively knowledgable but fail miserably to "make it happen" in this book. Full of spelling mistakes, capitalization & sytax errors, and very bad cliches, it is hard to find a chapter with reasonable, intellectual flow. The graphics are poor and there is absolutely NO COLOR GRAPHS which are vital in reading Level II NASDAQ tools. In short, I have read it and would not recommend it to anyone with higher than a fifth grade education. In fact, it is the worse book on the topic I have yet to read. ... Read more

Reviews (21)

Could be half the size
I caution against this book. I found it quite patronizing and takes forever to get to the point. Some of the economics are quite dubious and I don't like it's continual use of analogies; this is an excerpt explaining how stock market cycles are made up of smaller cycles.

"Here's an analogy. This book is made of many chapters. Within each chapter are separate sections that, when strung together, create that chapter. The sections are made of a series of paragraphs: the paragraphs are built of sentences , which are formed by words. Each word, sentence, paragraph, and section is a complete unit in and of itself. And, when looked at as a whole, they form the complete book. Get the picture?"

If you don't mind paragraphs like the above (and there are a lot of them) then there are some pearls of wisdom in this book but I find the style quite distracting. If you are serious about trading this might be a good first book but I strongly suggest going on to read some more serious books.

Excellent book for someone new to trading
This was a well written book in easy-to-understand English. I am new and green to trading and trading terms. The author made complex subjects easy to understand. Before this book, I looked at stock charts, threw my hands up in the air and screamed out of ignorance. Now, having read the book, I can read stock charts with ease.

This is a great introductory book for short-term trading. After this one, you'll be more knowledgeable and able to advance to the more complicated books.

Toni Turner, thank you for this book.

BUY IT!
This book is packed with valuable, usable information from oscillators to use of candlestick patterns and lots more. The writing style is simple yet effective, better than most books that cost many times more. BUT IT!

Road to Rich's
I found Toni Turner's book a very excellent one crammed with lots of information very useful for those "going short" to those that "going long" and everything in between. Armed with all the information contained within, and learning about chart's and graph's, terminology, market data, resources, indicators, etc., etc., your goal of success will be very high. And to top it off she's very funny; so the sections that have to cover the boring information is made very fun and light hearted. Plus her "Hot Tips" throughout the book are very useful and the motivation sections are just icing on the cake. Nothing less than 5 Stars for such a great asset and a great source of reference material in the future.

Simple & Fun
In this book, Toni Turner takes a complex subject,hits all the basics and makes it fun and easy to understand. AWESOME beginners book!!! ... Read more

Book Description

Uneasy Chaperone is a readable new guide for mutual fund directors (sometimes called trustees), their counsel, advisors and support staff. It is a practical, down to earth guide which helps directors’ understand the intricacies of their job. Uneasy Chaperone serves as an informative text for all who work in, and study about, the U.S. mutual fund industry.The text is written for laymen, not lawyers, and describes the fine balance between safeguarding the investors’ interest and helping the industry to grow.

Mutual fund shareholders will also be interested to learn about the added safeguard for their investments represented by their fund’s independent directors. The Chairman of the U.S. Securities and Exchange Commission has called independent directors “The Fund Investors’ Watchdog”. This book explains what that means and how the directors accomplish their mission

The US mutual fund industry is the envy of financial planners all over the world. Many of these will benefit from learning about the important role of US mutual fund directors in the success of the industry. ... Read more

Book Description

Finding wealth through real estate investing depends upon knowledge, a good plan, and building a team of advisors and mentors who can provide the expert guidance needed. By examining the three keys of successful real estate investing--selection, taxation, and protection--REAL ESTATE LOOPHOLES shows what it takes to make a real estate investment work. AUTHORBIO: Diane Kennedy lives in Phoenix, Arizona. Atty. Garrett Sutton lives in Reno, Nevada. ... Read more

Reviews (23)

Incomplete and confusing
This book was a quick read, but I found that I had more questions after reading the book than I did when I started. One of the primary thrusts of the book is to get asset protection through the use of corporate or limited partnership entities. Some of the techniques discussed in the book cannot be structured through a corporate entity without triggering adverse tax consequences. So what is a person to do? This book makes the most sense if you are -- or aspire to become -- a landlord. For more complicated situations -- or for varied approaches to working with real estate (such as flipping) -- I'm not sure what to do. I guess the bottom line is that you must get good advice from competent advisors who know your business. It's not a bad place to start, but the authors jump around alot, as not all "loopholes" apply to the traditional corporate structures that the authors push.

Loopholes that put cash in your pocket!
The book is a quick read, especially if you're into real estate and have read some RE books before. But the authors' writing style, makes it easy for investors of all levels to understand the concepts. The authors are of course two RichDad Advisors (Sutton and Kennedy) and they start out by saying that there are two types of real estate loopholes: tax and legal.

- From the tax standpoint, these are the loopholes that you want to open and use.

- From the legal standpoint, these are the loopholes that you want to close and make sure no one sues you.

Kennedy starts by going over basics of different ways that you can get into real estate, including a section on how to build your team. Then you get walked through how to create a real estate investing plan. It's pretty basic stuff, but very well done.

Then you get taken through the tax system (briefly) in the US and you get walked through the three types of income: earned, passive and portfolio. Real estate is obviously passive in most instances and this is where you want to concentrate your efforts.

You then get a look at seven of the legal deductions that a real estate investor can legally take. There are over 100 deductions, but she covered the main seven you should be concerned with.

Next up is Mr. Sutton who will take you through the legal strategies to protect your assets. He takes you through different types of insurance you should have and then gets to the good stuff: how you should hold your real estate. He takes you through the pros and cons of C corps, S corps, LLCs, LPs, general partnerships, and sole proprietorships. Most people don't think of this stuff until after they purchase a place, but it makes sense to plan ahead and protect yourself.

The last half of the book is how to analyze properties, make the offer, do a title search, and watch the cash flow come in.

The book is filled with some good stories and examples that keep you moving through the book. It will definitely motivate you and make you feel like "I can do this stuff." Which is a great result from a book. I think it's a must-read for the budding RE investor.

Real Estate Loopholes is obviously a RichDad Advisors book so it will sell millions of copies regardless of what's in it, but it's worth the buy. I just wish they had worked with Dolf DeRoos and put his book Real Estate Riches together with this one and made a really great book instead of one good one (this one) and one awful one (DeRoos').

Good for starters so you can talk the talk with your lawyer
The concepts in the RichDad series book Rich Dad, Poor Dad are basic concepts. It was a book to introduce the reader that working hard your whole life is not the way to create real wealth. In Real Estate Loopholes, the concepts for investing in real estate are pretty much the same amount of detail as in RDPD. It's a short read intended to give the reader some surface level knowledge of real estate tax advantage and legal issues to avoid by setting up LPs and LLPs. By reading this book, I'm able to ask more intelligent questions for my real estate attorney.

I'd say that it's a worthwhile read, but only if you are starting out in real estate investment and are going to be working with an attorney so you can ask follow up questions in forming your LLP that will be holding the real estate.

Worth it's weight in GOLD for the new real estate investor !
I read this book before I read the Amazon reviews. I was shocked at some of the negative comments. My recommendation is to read all of the how-to real estate books you want. When you finally decide you're going to invest, buy this book. It will save you money and headaches. If nothing else it will give you a basic understanding of ownership options and tax benefits (loopholes) that you can then discuss with a lawyer and accountant. Know what you're getting in to before you make your first offer to buy. It is the only real estate book that I am 100% satisfied with. Good luck!

Real Estate Loopholes: Secrets of Successful Real Estate Inv
E-book would not allow you to print pages for review. Difficult to read on-line. Would not purchase e-books again unless it allows an option to print out certain selected pages. Content of the book was very beneficial. ... Read more

Book Description

A classic book that was updated and revised in 1994, now with a new foreword written by the author.A meaningful analysis, a few rules to follow, how to choose good charts, and numerous case histories.Guidelines to follow which help you to be self-reliant. ... Read more

Reviews (7)

Why five stars ??
When I started reading this book I was disappointed. The background chapters that attempt to teach Technical Analysis for example are covered somewhat better in other books (see John Murphy).

But the treasure of this awesome book is in the examples and stories in the later chapters. I wish I had read this book a couple of years ago. From a number of books that I have read, it talks quite a bit about short selling and risk. In my opinion .. it is a five star book ..

Best trading book I've ever read
I have been an investment professional for over 20 years. I have read dozens of books--most long before the flood of "you to can be a super trader" trash of the 1990s. This is the best one. Mamis is an original and independent thinker. The book deals with psychology, tactics, technical indicators. His "How to Buy" is not nearly as good.

If you don't have a real-life mentor...
If you invest, wish you had a mentor on the trading floor, but don't know anyone who works on the exchange, you should read this book. Mamis discusses not only market indicators so you can better time buys and sells, but explains what happens on the trading floor and how the professionals -- the "they" many investors refer to grudgingly -- benefit from herd psychology. After reading this you will better understand why the "average investor" is more likely to lose than win, and why many people, in fact, subconsciously prefer to lose. Mamis has an easy style which reflects his many years of investing experience -- it is not a dry, academic discusson of the market.

Along with "Reminiscences of a Stock Operator" and a couple of others, this is one of the best and most informative books I've read about the market.

Great info. Still totally relevant
This book has a lot of good information. Should have bought it some years ago and saved myself a lot of money and worry at the market.

Even though it was written some time ago, the methodology and tools it helps one creates are very current. For example, the Overbought/Oversold oscillator it helps one develop is the exactly the same as Helene Meisler from Realmoney.com uses to help readers out at that subscription site.

Easily worth the money and will make anyone a better participant in the market.

best of the best
I've read many investment books, both on technical and fundamental anaylsis. This is by far the best. Most books if followed will cause you to lose significant money; not this book. I highly recommend this book. Also Justin's book "The Nature is Risk" is the seconded best investment book I've read. ... Read more

Book Description

The use of PIPEs as a means for public companies to raise capital has grown considerably over the past decade. A PIPE, or private investment in public equity, was once a little-understood strategy used by relatively few companies and investors. Today these privately negotiated transactions offer a practical (and in many cases, preferred) financing alternative for companies, regardless of their size or sector. They also present opportunity for investors and advisers who know how to identify and execute viable PIPE transactions.

Here at last is the definitive guide to PIPEs, presenting the views, voices, and invaluable expertise of leading practitioners from all specialties in the field. The book is divided into three parts: "The Business of PIPEs," which provides a historical backdrop and overview; "Regulatory Landscape and Structural Alternatives," which details the legal framework and transaction structures; and "Deal Flow," which offers the investor’s perspective on assessing and investing in deals.

Thorough discussions, ranging from the origins of the marketplace to deal structures, from legal considerations to due diligence, and from finding opportunities to trading strategies, provide a rich perspective on the inner workings of this active area of the private equity market. Institutional investors, financial analysts, investment bankers, corporate and securities attorneys, executives of public companies, and even the sophisticated investor will find substantial value in the pages of this book. ... Read more

Reviews (6)

Superb Introduction to PIPES through 2002
Seldom have I read as informative and as easy to understand a book as this one on a little understood area of private finance. PIPEs (Private Investments in Public Equity) mainly appear in the business press when something goes spectacularly wrong, so they have had a spotty reputation. With a weak stock market since 1999, it?s been harder to make money on PIPEs as an investor. But PIPEs have been even more important to those smaller companies which need equity financing before they can do a public offering. So PIPEs are here to stay, and this book is a superb way to begin your introduction.

The book uses essays from top professionals in the field to define the different types of PIPEs; measure the history of PIPEs; describe the perspectives of issuers, lawyers, bankers, accountants and investors; outline the legal issues involved; show examples through term sheets, case histories and due diligence examples; and describe probable future develops in the field. If the book has a weakness, it is that the essays have some repetition in them . . . but that's essential to be sure that the terms being used are understood clearly by the reader.

This book will be essential reading for CFOs, treasurers, hedge fund managers, venture capitalists, bankers, lawyers, accountants, consultants, scholars and finance students.

I thought that the material in Part Three was the strongest in the book. You will probably understand the subject better if you skip to Part Three after reading the overview by Richard E. Gormley and David W Stadinksi from SG Cowen. Then go back to the second essay by E. Kurt Kim of PrivateRaise and follow through to the end of Part Two. If you don't need to understand the legal background, you can skip Part Two.

Anyone who wants to learn how to do better due diligence in any area of finance can learn a lot from the fine essay by Stewart R. Flink of Crestview Capital Funds, "Due Diligence: Caveat Emptor Squared."

I was particularly pleased to see that the essays generously point out all of the ways that these deals can be misstructured, and how you can make a mistake as an investor. Hopefully, the track record of future PIPEs deals will improve as a result.

Get connected to PIPEs
More and more companies are using PIPEs to raise capital, and this book is both the definitive and authoritative guide to this growing field. The contributors clearly know their stuff--and the book covers all the relevant topics, from deal structures to legal issues and the industry outlook. I was most impressed with the chapter on due diligence and the case studies. If you need to understand this field (and if you work in finance, you do or will very soon), this is the book to get.

Highly Recommended!
This is an excellent and comprehensive introduction to PIPEs. The acronym stands for Private Investment in Public Equity, and this includes not only common stock but warrants and other permutations of equity. Companies often issue PIPEs when they need capital but when market conditions make it imprudent to raise funds through a public offering. Most PIPEs investors are sophisticated institutions, and hedge funds are probably the most active participants in the market. PIPEs are a high-risk investment with abundant legal, market, regulatory and other complexities. This book neither attempts to sell PIPEs nor to discourage people from buying them. While somewhat repetitive, it is reasonably objective and reasonably thorough. We strongly recommend it to professional investors.

Essential reading material!
As a layman in the world of finance I found this particular book to be extremely helpful in explaining PIPEs in overview as well as the finer points of a PIPE transaction. I highly recommend this material to anyone who would like to learn how a PIPE works.

Clear, Concise Information of PIPEs
Finally! A book that explains in simplified terms the aspects of a PIPE transaction. ... Read more

Book Description

With a foreword by Robert G. Allen

No investment strategy has created more millionaires than real estate. Even in less-than-stellar economies, real estate offers a "safe harbor" to people wishing to make smart, low-risk investments. And now there's a foolproof, step-by-step system even financial novices can use to achieve wealth and financial freedom.

Are You Dumb Enough to Be Rich? gives people the resources and information they need to make serious amounts of money from buying and selling real estate. This essential book walks readers through the entire process, providing them with a 120-day plan for starting down the road to building real estate wealth.

Too many real estate books focus on stories and unlikely examples about how other people becam