Book Description

How do we fatten our portfolios and stay financially healthy? Former hedge-fund manager and longtime Wall Street commentator Jim Cramer explains how to invest wisely in chaotic times, and he does so in plain English in a style that is as much fun as investing is -- or should be, when it's done right.

For starters, Cramer recommends devoting a portion of your assets to speculation. Everyone wants to find the big winners that can bring outsized gains, and Cramer explains how to allocate your portfolio so that you can afford to take this kind of risk wisely. He explains why "buy and hold" is a losing philosophy: For Cramer, it's "buy and homework." If you can't spend an hour a week researching each of your stocks, then you should hand off your portfolio to a mutual fund-- and Cramer identifies the very few mutual funds that he'd recommend.

Cramer reveals his Ten Commandments of Trading (Commandment #5: Tips are for waiters). He explains why he's not afraid to compare investing to gambling (and tells you which book on gambling you should read to become a better investor). He discloses his Twenty-Five Rules of Investing (Rule #4: Look for broken stocks, not broken companies).

Cramer shows how to compare stock prices in a way that you can understand, how to spot market tops and bottoms, how to know when to sell, how to rotate among cyclical stocks to catch the big moves, and much more. Jim Cramer's Real Money is filled with insider advice that really works, information that Cramer himself used to make millions during his fourteen-year career on Wall Street.

Written in Cramer's distinctive turbocharged style, this is every investor's guide to what you really must know to make big money in the stock market. ... Read more

Reviews (19)

Best investment book ever
Thanks Cramer for sharing your insights. I have also sign up the action alert, and profit from your realtime calls, thanks all the help.

Thank You Professor Cramer
In Law School, you learn the Law, but you also learn how to Think like a Lawyer. If you want your hand held and told which stock you would Never lose money in..then this book is not for you. But if you want to Learn how to think and analyze like a Pro...then this is the Best Book ever written on this Subject (sorry Benjamin Graham). Reading this book, I was amazed to find so many things Mr. Cramer and the Great Mr. Buffet share in common.. from their thought, anaylsis to their overall personality. Neither one believes in holding more then 15 different companies, both live for Homework and both LOVE a bargain...be it a Stock or shopping at Target or finding a really good price on a Case of Coke (men after my heart). Neither Man waste money or are flashy with their wealth...and I think that is the greatest lesson that these Men (and this Book) can teach our status seeking society. I also suggest that you read this book before you read his first book, Confessions of a Street Addict...because once you have taken Cramer 101, you can truly enjoy Confessions....including the Horror of the $50,000.00 Desk...do you Know HOW much Sears Holding you can buy with that!

Should you listen to Kramer?
Anybody who thinks they know everything about the stock market should be avoided at all costs. Kramer is one of the world's biggest idiots.I am, unfortunately, the world's greater idiot for listening to him time and again... not believing exactly that he knew what he was talking about, but for believing that other people would follow his advice, resulting in a stock going up or down. I have lost many thousands of dollars taking his advice.He has far too much power for his limited intellect;and his bulldog rants move stocks for all the wrong reasons.In my humble opinion,Eliott Spitzer should investigate him.

Very Good
Unlike Cramer's Mad Money TV show, Cramer's Real Money is a little slow to get started. However,like many other books, you have to slog through the "where-I've-been-and-how-I-got-to-where-I-am-today" portion to more appreciate what he has to say when he gets to the meat of the book.Cramer offers an interesting perspective from the "inside", possibly revealing more than some Wallstreeters would prefer, and demonstrates he is not just another financial "talking head".His book is definately a "must read" for anyone in the market today.

Excellent Book on Trading
This is one of the best trading books out there (and I have gone through most of the books on trading and investing). Just the chapters on picking the bottom and top are worth more than the price of the book.Whether or not you agree with everything he says, the book will surely make you think and trade better, and likely wealthier. ... Read more

Reviews (44)

This bible contains errors
First, my review refers to the 1997 3rd edition.

Since this book is regarded as the bible of derivatives (it was also my first introduction) I will leave it to others to praise it and concentrate instead on what's wrong with it. First and foremost, one cannot learn how correctly to formulate solutions to stochastic differential equations from this text: eqns. (10.7,8), e.g., are not correct for arbitrary returns but are valid only as approxmations for small returns (Hull leads the reader to believe the opposite). The problem is that Ito's lemma is only stated, not proven, and it's the proof that shows one how to formulate correctly the stochastic integral equations that Hull calls 'stochastic difference equations'. When volatility depends on returns and/or time, then the errors made from following Hull's oversimplified treatment become serious.

My first impression of Baxter & Rennie's 'Financial Calculus' was that it was unnecessary and a waste of money. My opinion reversed completely after realizing (under prodding by a physics colleague who's an expert on sde's) how badly Hull's approach to sde's really is. Also, the systematic derivation of Black-Scholes from the assumption of a replicating, self-financing strategy in B&R is very nice. As Feynman said, we don't really understand a result until we can derive it from many different viewpoints. The method is not really different in principle from the standard short derivation given in Hull, but it does provide a nice, clear example of what is meant by replication and self-financing in the terminology of Brownian motion/sde's.

Probably the best for practitioners; useful for theory
This book is a solid introduction to pricing derivatives and explains in lucid detail all the techniques you need to get up and running with numerical valuation. It is aimed, I would say, at advanced MBA students and practitioners on the job already. That is to say, Hull doesn't spend too much time on theory (for instance, his explanation of HJM summarizes several of their papers and a number of preludes into a few paragraphs).

I would also say that the more theory-oriented reader would benefit from reading Hull. It provides a fresh picture, distinct from the essential theoretical foundations of Merton, Duffie, Campbell, and Cochrane. Thus, to learn CAPM, state prices, or portfolio choice, look elsewhere; to learn how to price derivatives in practice, this is your best bet.

Very useful manual for practitioners
This is a great manual for market practitioners. It does not use detailed math, does not go into issues of corporate finance. But it is very easy to follow and it is "complete". More than that, the book is to the point and very clear. Market professionals will find the examples spread around the book very useful for their daily work. The surprising new book by Nefci which I just got, but did not have time to study in detail, seem to provide all the missing links.

I had used an earlier edition of Hull, and it appears that John Hull adds all the relevant material needed for market finance with each new edition. In fact I have purchased several books on Mathematical Finance and Derivatives but few of them remain on my desk for future consultation.

One of the great foundation texts in finance(******) 6 stars
I am a huge fan of this book. The fourth edition was the single most influential text in my study for my MBA. It opened new kinds of thinking for me and helped me understand the intuitions and they methods for valuing the various kinds of derivatives. While the language is not simple, it is not arcane. Some complain that the mathematics are not rigorous. So what? There are such books on the market and are suitable for those that want them. This is the standard book for thousands of MBAs who need a solid foundation, but do not need to be able to higher math to understand how a binomial tree works or to even create one my hand. Certainly, it is helpful to understand the math as deeply as you can. However, the reality is that most of the time practitioners use pre-made tools to run their Monte Carlo simulations rather than programming from scratch.

There are several new chapters on very helpful and interesting topics (using futures for hedging, numerical procedures, swaps, credit risk, real options, insurance, derivative crises, and more). Some of this is new and some adapted from previous editions. Other material has been rewritten and clarified.

DerivaGem 1.5 is included with the book, but a URL is provided to get the latest version from Prof. Hull's website.

This is a terrific book and I consider it one of the most valuable on my shelf of business texts. It is one I would never want to be without and one of the few I am willing to keep up with the new editions. While no book is perfect for every use in every situation, this is one of the great foundation texts.

Simply the Best!
This is the bible of options and futures markets. It is very well written, clear, and relatively easy to understand. However, you have to read it carefully as it minces its words. Every sentence is packed with information and is important. You may find 'easier' books, but they will not go the distance. So, save your money and get the best of them all. Risk Magazine lists this book as #4 among most widely cited papers/books between 1988 and 2003. No surprise there! ... Read more

Book Description

Winning by Not Competing: A Fresh Approach to Strategy

Since the dawn of the industrial age, companies have engaged in head-to-head competition in search of sustained, profitable growth. They have fought for competitive advantage, battled over market share, and struggled for differentiation. Yet these hallmarks of competitive strategy are not the way to create profitable growth in the future.

In a book that challenges everything you thought you knew about the requirements for strategic success, W. Chan Kim and Renée Mauborgne argue that cutthroat competition results in nothing but a bloody red ocean of rivals fighting over a shrinking profit pool. Based on a study of 150 strategic moves spanning more than a hundred years and thirty industries, the authors argue that lasting success comes not from battling competitors, but from creating "blue oceans": untapped new market spaces ripe for growth. Such strategic moves-which the authors call "value innovation"- create powerful leaps in value that often render rivals obsolete for more than a decade.

Blue Ocean Strategy presents a systematic approach to making the competition irrelevant and outlines principles and tools any company can use to create and capture blue oceans. A landmark work that upends traditional thinking about strategy, this book charts a bold new path to winning the future.

W. Chan Kim is the Boston Consulting Group Bruce D. Henderson Chair Professor of Strategy and International Management at INSEAD. Renée Mauborgne is the INSEAD Distinguished Fellow and Professor of Strategy and Management.

... Read more

Book Description

A step-by-step program for making big plans that create big money in real estate

With a little help from Gary Keller, anyone can achieve financial independence. In The Millionaire Real Estate Investor, Keller shows you how, with the right plan and persistent effort over time, you can amass fabulous wealth in one of the strongest and safest investment vehicles around--real estate. The plan begins by establishing a state of mind that becomes a different way of looking at the world and evolves into an exciting way of life.

Through inspiration and solid instruction, Keller helps you develop a thorough knowledge of the best models for investing, along with a fundamental understanding of money, how it can be made and how it can be lost. Then, he shows you how to design an investment business that lets you get out of the day-to-day work and enjoy the freedom and benefits of what you have created.

Thoroughly researched with interviews and insights from more than 100 millionaire real estate investors who have struck it rich through Keller's concepts and practices, this book shows you how to:

• Think Like a Million: Develop the mind-set and financial strategies of a millionaire investor
• Buy a Million: Amass a real estate portfolio with a market value of a million dollars or more
• Own a Million: Turn investments into an asset-based business with ever-increasing net worth
• Receive a Million: Build an investment empire that provides a million dollars a year in passive income

Reviews (16)

Valuable Information for Tax-Deferred Investment Accounts
Anyone who enjoyed Stocks for the Long Run will find this book to be a very valuable addition to his or her knowledge about stock investing for tax-deferred investment accounts.

Professor Siegel has checked history again.This time he has looked for ways to do stock investing that have performed better than indexed mutual funds for tax-deferred accounts.

Much of what he finds is counter to the conventional wisdom, but makes sense when examined objectively.

Here are some key findings:

1.High dividend yields, when reinvested in the same stock, provide superior returns.That's only true in a tax-deferred account, of course.

2.Buying stocks with low multiples that grow faster than expected is much easier and more profitable to do than simply choosing companies in fast growing industries.

3.Exciting new companies make lots of money for founders, employees and venture capitalists . . . but not enough for investors.

4.Avoid capital intensive businesses.

5.The most productive companies are those who develop new business models (something I discuss in The Ultimate Competitive Advantage) regardless of how bad the industry is.

6.Beware of excessive valuations . . . no matter how good the future looks.

7.If a company has neither a high dividend nor any cash, assume something's wrong with the accounting.

8.Indexed stocks in slower-growing emerging markets have high potential to deliver huge gains in the future due to demographic influences.

From these findings, Professor Siegel suggests a model portfolio for equities that will intrigue you (see page 254) with high-dividend ideas, global firms, attractive sectors and interesting value plays.

In addition, Professor Siegel addresses the question of what to do about paying for the retirements of all those Baby Boomers around the world.His proposal is to encourage young emerging market workers to purchase the assets of older workers in the developed world.You'll find the argument to be intriguing and compelling.

I cannot remember reading a more stimulating and original book about investing.I was particularly impressed by his historical research that shows the superiority of sticking with companies that have been around a long time rather than searching out newer companies to buy.I think the exception to the latter comes in those cases where the management has proven to be adept at improving upon their business models to provide more value to customers.

Almost every investor would benefit from reading and thinking about this book.

New findings
There are several new revelations regarding the kind of stocks that are consistent winners, supported by data in this book:

Consumer Brand Names/consumer staples and healthcare industry have been strong performers.

The relationships of the top performers' P/E and growth rate.

Low P/E,high dividend stocks outperform.

These findings of characteristics make this book worth 5 stars.

The book also predicts a "global solution" to the demography issue. This solution is like saying a wealthy family that can no longer produce would sell their assets to the productive newcomers in order to maintain the life style are have become accustomed to. If this turns out to the solution, it's a pathetic one.

The importance of dividends and the dangers of growth
Jeremy Siegel has rediscovered the importance of dividends.When Charles Dow did his seminal research nearly a century ago he relied on dividends and ignored reported earnings because he knew that companies were lying on their balance sheets.Dividends, on the other hand, don't lie.Dividends let you compound.Very old fashioned.

The other important point this book makes is that investors almost always overpay for growth.He calls this the growth trap.It is critical for investors to distinguish between those companies whose innovations power the economy and those that provide superior returns to investors.They are usually two different things.

Many people seem to have learned nothing from the recent bursting of the NASDAQ bubble.Siegel has the research that shows what went so wrong several years ago and how to keep your head if it happens again.

The old is new again.

must read for all investors
Jeremy Siegel did it again with his new book. Filled with historical facts and observations, he shows how a company with 10% earnings growth is often a better investment that a company with 20% earnings growth. The reason for this phenomenon can be summed up in one word--valuation. Fast growing companies are expected to grow and that is taken into account in its price. Slower growing companies are expected to grow slow.

Professor Siegel shows how some of the best performing stocks in the past half century were companies with good dividends and earnings above expectations. He proves his point by comparing Standard Oil of New Jersey and IBM. IBM has grown faster than Standard Oil of New Jersey by any measure, except stock appreciation.

Professor Siegel also explains how fast growing sectors are not always good investments. Obviously, technology stocks in 1999 and 2000 were fast growing, but some of the worst investments you could have made. He also uses the Financial sector as an example. It has been one of the two fastest growing sectors in the past 50 years, but the stocks within the sector have not performed as well as the S & P 500. The reason this is possible is because new companies enter the business. These new companies bring competition and make the sector bigger, but not more profitable.

This book is great for any beginning investor or any professional.

The Role of Luck in Siegel's Success
An absolute disappointment. This is a classic example of misreading the formula that made you successful in the first place. Sequels are usually bad, in this case Siegel's are bad. The reviews and cover quote by Warren Buffett are misleading, and I seriously doubt whether the reviewers read the book. There is nothing new here. Undervalued stocks (value stocks) have been touted as being superior forms of investment for a long time. Eugene Fama, and others, have produced fantastic research in this area. I found the book to be self aggrandising, offering no original contribution and totally out of character relative to the first book. The data mining is significant, and to suggest that tried and true is the way forward simply because the past delivered such a pattern is foolhardy. Give this book a miss. ... Read more

Book Description

This latest edition of Investments continues the legacy of excellence established in previous versions. Chapters on behavioral finance, arbitrage pricing theory, multifactor models of risk and return, and international diversification have been dramatically rewritten to meet changes in today’s transformed markets. In addition, unnecessary mathematical and technical detail continues to be left out wherever possible.

Reviews (24)

Comprehensive, student-friendly, and extremely helpful
The book by Bodie et al is unquestionably, the best introduction to Investment Theory available today. Please note that there is an emphasis on the word introduction, because there is much that can be covered after the book ends. This book provides a springboard from which the student can take off in different directions viz. Derivatives, Risk Management, Portfolio Management etc.

The language is simple, and there are no mathematical demons in the book. The Concept Check questions are extremely valuable and should be attempted before the reader delves into the equally challenging exercises at the end of the chapters. The book starts with an introduction to the different types of markets and financial instruments present today, and then moves into investments, risk etc. The book touches upon a number of topics including bonds, financial statement analysis, security valuation, derivatives and hedging. Like other multipurpose book, it does not go in-depth into any of these, but provides the reader a brief introduction to each of them for help in further studies. It does dwell a lot on portfolio theories which are described in detail, with numerous examples. The chapter-ending exercises are graded with easier questions in the beginning, and extremely challenging ones in the end.

All in all, a great book!

Excellent text book on investments & basic portfolio theory
I am a lecturer in Finance for a university in the UK. I evaluated this book for use in an Executive MBA course in portfolio management after previously using "Investment Analysis and Portfolio Management" by Reilly and Brown. The Reilly book takes a more quantitative approach to the valuation of various assets and is more comprehensive than "Investments" in terms of its coverage of securities and markets but I ultimately opted for "Investments" due to its clarity, organization, and quality writing style. The authors do an excellent job of communicating fairly complex concepts to a student with little or no background in finance.

If you are studying for the CFA or need a more advanced text, I can recommmend the Reilly book. If you are a practitioner or looking for a very mathematically rigorous text in portfolio management, I can recommend "Active Portfolio Management" by Grinold. But for an undergraduate or graduate student looking for an excellent primer on stocks, bonds, options, futures and the workings of the markets they are traded on, look no further than "Investments".

One note: we were able to obtain a paperback copy of the text at much reduced cost.

Good
The book is good. But if you can solve all the problems (buy the solutions manual) then you will be able to extract all the value from it.

Investments + S&P Card + Powerweb + StockTrak discount coupo
Bodie/Kane/Marcus is the leading textbook in the graduate investments market. It is recognized as the best blend of practical and theoretical coverage, while maintaining an appropriate rigor and clear writing style. Its unifying theme is that security markets are nearly efficient, meaning that most securities are usually priced appropriately given their risk and return attributes. The text places greater emphasis on asset allocation, and offers a much broader and deeper treatment of futures, options, and other derivative security markets than most investment texts.
Table of Contents: Part 1: Introduction 1. The Investment Environment 2. Markets and Instruments 3. How Securities are Traded 4. Mutual Funds and Other Investment Companies 5. History of Interest Rates and Risk Premiums Part 2: Portfolio Theory 6. Risk and Risk Aversion 7. Capital Allocation Between the Risky Asset and the Risk-Free Asset 8. Optimal Risky Portfolios Part 3: Equilibrium in Capital Markets 9. The Capital Asset Pricing Model 10. Single-Index and Multifactor Models 11. Arbitrage Pricing Theory 12. Market Efficiency 13. Empirical Evidence on Security Returns Part 4: Fixed-Income Securities 14. Bond Prices and Yields 15. The Term Structure of Interest Rates 16. Fixed-Income Portfolio Management Part 5: Security Analysis 17. Macroeconomic and Industry Analysis 18. Equity Valuation Models 19. Financial Statement Analysis Part 6: Options, Futures, and Other Derivatives 20. Options Markets: Introduction 21. Option Valuation 22. Futures Markets 23. Futures and Swaps: A Closer Look Part 7: Applied Portfolio Management 24. Portfolio Performance Evaluation 25. International Diversification 26. The Process of Portfolio Management 27. The Theory of Active Portfolio Management Appendix A. Quantitative Review Appendix B. CFA Citations

Well begun is half done!!
Anyone embarking upon a study of investments should begin with this book. From an explanation of market structure to intuitive analyses of all core concepts in investments (like Markowitz Theory, CAPM, Black-Scholes, Fixed Income concepts), this book has everything. Newer editions of the book also have very good instructions on how to implement the tools in MS-Excel. Obviously, this book is not meant for those pursuing a PhD. Rather it is meant for MBAs and aspiring CFAs who want to learn and implement investment tools and analysis. ... Read more

Book Description

The world's most exciting, fastest-growing new market? It's where you least expect it: at the bottom of the pyramid. Collectively, the world's billions of poor people have immense entrepreneurial capabilities and buying power. You can learn how to serve them and help millions of the world's poorest people escape poverty.

It is being done-profitably. Whether you're a business leader or an anti-poverty activist, business guru Prahalad shows why you can't afford to ignore "Bottom of the Pyramid" (BOP) markets.

In the book and accompanying CD videos, Prahalad presents...

Why what you know about BOP markets is wrong A world of surprises-from spending patterns to distribution and marketing

Unlocking the "poverty penalty"

The most enduring contributions your company can make Delivering dignity, empowerment, and choice-not just products

Corporations and BOP entrepreneurs Profiting together from an inclusive new capitalism

"C. K. Prahalad argues that companies must revolutionize how they dobusiness in developing countries if both sides of that economic equation areto prosper. Drawing on a wealth of case studies, his compelling new bookoffers an intriguing blueprint for how to fight poverty with profitability." Bill Gates, Chairman and Chief Software Architect,Microsoft

"The Bottom of the Pyramid belongs at the top of the reading list forbusiness people, academics, and experts pursuing the elusive goal ofsustainable growth in the developing world. C. K. Prahalad writes withuncommon insight about consumer needs in poor societies andopportunities for the private sector to serve important public purposes whileenhancing its own bottom line. If you are looking for fresh thinking aboutemerging markets, your search is ended. This is the book for you." Madeleine K. Albright, Former U.S. Secretary of State

"Prahalad challenges readers to re-evaluate their pre-conceived notionsabout the commercial opportunities in serving the relatively poor nations ofthe world. The Bottom of the Pyramid highlights the way to commercialsuccess and societal improvement--but only if the developed worldreconceives the way it delivers products and services to the developingworld." Christopher Rodrigues, CEO, Visa International

"An important and insightful work showing persuasively how the privatesector can be put at the center of development, not just as a rhetoricalflourish but as a real engine of jobs and services for the poor." Mark Malloch Brown, Administrator, United Nations Development Programme ... Read more

Book Description

The complete toolkit for pre-foreclosure investing

Finding, researching, inspecting, negotiating, buying, and reselling pre-foreclosure properties is a lot of hard work. But it can be very lucrative for investors who know what they’re doing, are well organized, and have the persistence it takes to succeed. The Pre-Foreclosure Property Investor’s Kit is a comprehensive resource full of ready-to-use worksheets, letters, checklists, notices, forms, and agreements. With step-by-step instructions and practical, no-nonsense advice, readers will learn how to find great pre-foreclosure deals, perform due diligence on target properties, accurately estimate the market value of properties, negotiate effectively, and maximize profits.

Thomas J. Lucier (Tampa, FL) has been a real estate investor since 1980. He is a widely published real estate expert whose advice has appeared in such publications as the Wall Street Journal and Commercial Real Estate Investment magazine. ... Read more

Book Description

Real estate financial calculations made easy

Every real estate investor needs to know how to calculate cash flow, long-term gain, net operating income, and a few other basic financial formulas. What Every Real Estate Investor Needs to Know About Cash Flow . . . is a guide to the 34 most essential calculations that answer such crucial questions as "What is this building really worth today?" "What kind of cash flow can I expect?" "Is this property a good investment?" and "How do I calculate my return?" For beginning investors, real estate veterans, commercial brokers, and sellers as well as buyers, this handy reference is a must-have for anyone who wants to make sound decisions based on accurate calculations of:

• Discounted cash flow
• Cash-on-cash return
• Net operating income
• Capitalization rate
• Gross rent multiplier
• Net present value
• Payback period
• Mortgage amortization
• And many more

Reviews (7)

The Investors Bible
Everyone wants to retire on real estate but no one shows you how to, today. Frank G does; he shows you what to look for when evaluating a prospective property and what financial analysis to do to see if it will even produce enough income to carry itself. Franks book is a great start and will give you all the basics to develop a cash flow from real property for your entire life. You need to buy this book to be successful investing in real estate.

Finally a helpful real estate finance book!
This book gives the facts about real estate finance in an easy to read format. Unlike most real estate books, this one does not claim to make you $1,000,000 in 2 weeks with your eyes closed. It gives the common investor the tools and perspective to make wise real estate investment decisions. Good for beginners or seasoned vets who want to brush up on their skills.

Required Reading for Real Estate Investors
Before you invest $1 into income-producing real estate, be sure to pick up a copy of Frank Gallinelli's excellent book, What Every Real Estate Investor Needs to Know About Cash Flow...And 36 Other Key Financial Measures: Guidelines, Formulas, and Rules of Thumb for Making Money in Real Estate. While the title may sound somewhat forbidding, the book is so well-written and accessible that even novice investors who wouldn't know a cap rate from a rate of return can quickly and easily master key concepts such as present value, gross scheduled income and discounted cash flow. Better yet, Gallinelli offers free spreadsheets that you can download from his site that do the numbers-crunching for you. I like to think that I'm a pretty savvy investor, but, thanks to Frank and his amazing formulas, I narrowly avoided overpaying for a five-story office building in the Chelsea section of Manhattan. While there's no guarantee that the seller will accept my lower offer, I feel confident that, if I do get the deal, I will be paying a fair price now that Frank has taught me how to do the math.

Outstanding detail with a straightforward explanation.
This book is the best read for understanding financial analysis. It is not often, if ever achieved, that a subject as complex as financial analysis can be explained so perfectly suited for real estate professionals. The work doesn't lose itself in silly analysis or "paralysis of analysis", Gallinelli's approach is straightforward, sometimes hard hitting as a practical sense guide to investing in real estate. This doesn't mean the work is simplistic by any measure, you can spend plenty of time taking this work into great depth. Gallinelli offers a web page support system with free worksheet downloads, financial software and valuable resource links. Every deal I consider is now held to a new financial standard. This is a must own book for investors, brokers and corporate real estate professionals.

Excellent Investment Companion
This book focuses on analyzing Real Estate Investment from a financial calculation perspective. It is very well written, very easy to understand, and extremely useful. In a very short time, you will quickly learn the 37 calculations that a sophisticated Real Estate Investor uses to evaluate whether a deal makes financial sense. By knowing the numbers better, you'll have an edge in negotiating your next real estate deal. Highly Recommend! ... Read more

Amazon.com

Sequels often disappoint when compared to their predecessors, but author Robert Shiller has proved the exception to the rule with his second edition of Irrational Exuberance. When the original book released in 2000, Shiller's prescient analysis of bubble-like market behavior provided perspective on the painful meltdown of stock-price valuations that subsequently occurred. Five years later, the Yale professor's bearish predictions about real-estate valuations are enough to give any savvy investor or homebuyer pause.

Shiller is one of several well-known economists and pundits who've begun a running dialogue in the last few years around the drawbacks of unchecked free markets. Few writers, though, dissect the phenomenon of bubble behavior as clearly and thoroughly as Shiller does. As with the first edition of his book, Shiller begins this one with reams of quantitative data around the late 1990s stock-market runup. This new edition adds data on real-estate price trends in the early 2000s, and points out the striking parallels between the earlier stock-market boom and bust, and current trends with housing prices in the United States. Shiller actually believes the two phenomena are related; as investors lost confidence in the stock market and moved their money into real estate, one asset class fell while the other rose. According to Shiller's analysis, the pattern is destined to repeat itself.

Aside from the initial data, the real strength of Irrational Exuberance is the straightforward, almost clinical way in which it explains why things happen as they do. The book walks readers through structural reasons for market bubbles, then ventures into "softer" analyses which professional economists less confident than Shiller would be scared to touch. It examines cultural factors behind market bubbles, such as hype-mongering news media, and psychological factors, such as herd behavior.

Another improvement in this latest edition of Shiller's book is his inclusion of more personal commentary, and he mentions the influence that his wife, herself a clinical psychologist, has had on his intellectual development and his view of psychological impacts on economic behavior. Other personal insights from Shiller center on experiences he had while touring and lecturing around the first book, and some of the most interesting passages are those in which he describes common questions or feedback from his audience, and what he thought in reaction--but didn't voice while on his tour.

In the end, Shiller closes his book with an intriguing set of policy proposals. He argues for a revamping of the U.S. social security system, a new system of house-price insurance for homeowners, and risk reduction through portfolio diversification. Fans of the brainy academic will note with approval that Shiller practices what he preaches: he has begun trying to implement some of his ideas in the real world through two private consulting firms he has founded, Macro Securities Research and Macro Financial. The hope is if Shiller's as correct with this second book as he was with his first, readers will all learn something from these new companies. --Peter Han ... Read more

Reviews (62)

Antidote to Stocks for the Long Run
Shiller explains why the incredible 225% increase in the Dow Jones Industrial Average from the beginning of 1994 through the end of 1999 was unsustainable: "as a rule and on average, years with low price-earnings ratios have been followed by high returns, and years with high price-earnings ratios have been followed by low or negative returns." Writing in 2000 when the price-earnings ratio on the S&P500 was nearly 45, compared to a long-run average of about 20, Shiller was preparing us for a bursting of the stock-price bubble. His message was sobering and prescient then as well as good education now. Caution: the reader will have to whack through thickets of details in Chapter 1 such as "The average real return in the stock market (including dividends) was -2.6% a year for the five years following January 1966, -1.8% a year for the next ten years, -0.5% a year for the next fifteen years, and 1.9% a year for the next twenty years."
In Part 3: Psychological Factors, Shiller outlines principles of behavioral finance. For example, past prices and stories help form people's views of the stock market. He reviews classic experiments in psychology, which documented the significance of peer pressure and trust in experts. Shiller's interpretation is that people take uncritically what experts on the stock market offer, presumably that stock prices will continue to rise, which encourages them to be overconfident.
The author puts forth a good explanation of efficient markets theory but applies much criticism. He proclaims: "I see no reason to doubt the thesis that smarter people will, in the long run, tend to do better at investing." Reading and understanding Irrational Exuberance will help put the individual investor in the company of those "smarter people."

I'm puzzled by the y-axis choices in Figure 1.1 (page 6).
I work in statistical data analysis, and I opened this book with high expectations.But then on page 6 I encountered Figure 1.1, titled "Stock Prices and Earnings, 1871-2000", which has a visual design that troubles me.Both lines on the graph are plotted with the same x axis (the years from 1860 to 2020), and I have no problem with that.The Stock Price line is plotted against a y axis that is labeled along the left-hand edge of the graph, and the range chosen for this axis (0 to 1600) seems quite appropriate for the data plotted, which range from about 70 to about 1450.The Stock Earnings line is plotted against its own y axis that is labeled along the right-hand edge of the graph, and I have no problem with the existence of the second y axis.But what troubles me is that the range of this second y axis has been chosen so that the entire range of the data plotted in the earnings line (about 5 to about 40) has been squished into the very bottom of the graph, using a vertical distance that corresponds roughly to the range from 2 to 190 on the y axis for Stock Price.This apparently arbitrary visual juxtaposition of two unrelated y-axis scales leaves me unable to trust any visual trend comparisons I might be tempted to make between the two lines.Can someone explain to me why one of these three alternatives that make more sense to me wasn't chosen?(1) Plot both the Stock Price and the Stock Earnings on the same y-axis scale (from 0 to 1600), or (2) plot the Stock Price on its own y axis as shown but plot the Earnings Price on a y axis that runs from 0 at the bottom of the graph's right-hand edge to about 45 on the graph's right-hand edge, or (3) normalize both graphs to percentages of their values for some year (1871, perhaps).Thanks.Any comments from Edward Tufte ("The Visual Display of Quantitative Information") would be most welcome indeed.

decent, but somewhat disappointing
For those haven't read other behavioral econ articles / books, this is probably worthwhile.However, though the first two articles are well written and informative, the remainder of the book is mostly ponderous unsupported assertions and innuendo.It's nothing new to those who've read a bit about this stuff before.

Regarding the "updated for the real estate bubble" claims:The real estate information is not very well integrated - it looks like it was opportunistically inserted.Ironically, it looks like Shiller and his publishers are trying to "time the market" - rushing a book to market hoping to "catch the top" of another asset class cycle and thus get two data points showing him to be a guru of bubbles.(In addition, his mention of Prop 13 in California is superficial and not informative.)

It also appears at many places that writing has not been updated at all since the first edition.It can make for some confusing reading at times.

Maybe he doesn't want to give away lots of data he's accumulated, but it would be helpful to evaluate his assertions.Without it most of the book does not rise above well informed discussion over a few beers.

indepth analysis on market behavior
In a welcome second edition of the book, Shiller sets up his main theses using the real estate "bubble" (or if you prefer, "boom") example.The first part of the book focuses on a historical analysis of the "bubble" scenarios and uses the recent real estate phenomenon to explain the context of his arguments. He systematically argues against all the reasons cited for the real estate boom (population, construction costs, etc.) In the second part, he focuses on causes for these speculative behaviors of investors and their changing perceptions on risk. His classification of factors into precipitating and amplifying groups is an interesting approach.He then proceeds to explain cultural, political and psychological factors to reason why he thinks investors behave in a "speculative" mode. His attack on the cable TV news media and their "noisy" coverage of business news is an amusing and thought-provoking read.

Any serious investor for the long term (and short term) will find the insights on market behavior very useful in analysing his/her own behavior. The efficient market theory, "greater fool" theory, etc. will also need a more critical look after reading Shiller's comments.

This thought provoking book is an excellent read along with Jeremy Siegel's (one of the authors friends/advisors) book which takes a much more positive perspective on market trends and more importantly, market behavior.

While the strength of the arguments will keep the reader interested, the book is no easy week-end read. It needs to be read in a slow pace to absorb the gravity of the arguments. But that shouldnt deter a serious investor. A must have.

Market psychology with a political ending
This is a chronicle of inverstor perceptions and expectations of themarket both in the late '90s and in other periods, particularly the roaring '20s.Pretty boring stuff.More psychology than finance.

The reason I gave this book one star is that in the final part of the book Shiller makes an political statement that is unrelated to the book's thesis.He campaigns against investing even part of Social Security funds in the stock market.He urges us to reaffirm our group responsibility to the elderly instead.It sounds like something the AARP would have said.

In other parts of the book he talks about what demographic or generational trends may mean for the market or the public perception of the market.When he turns to social security he doesn't mention demographics, however.Of course, demographic trends portend bankruptcy for Social Security as it is currently structured.It's intellectually dishonest to talk about demographics and generational differences in other contexts but omit those factors when it comes to social security.

If he had left out this political lobbying he would have a boring but well researched book.He pulled a bait and switch at the end that detracts from the rest of the book. ... Read more

Book Description

"Personal-finance author and lecturer Robert T. Kiyosaki developed his unique economic perspective from two very different influences--his two fathers.One father (Robert's real father) was a highly educated man, but fiscally poor.The other father was the father of Robert's best friend--the Dad who was an eighth grade dropout who became a self-made multi-millionaire.The lifelong monetary problems experienced by his "poor dad" pounded home the counterpoint communicated by his "rich dad."Taking that message to heart, Kiyosaki was able to retore at 47.RICH DAD, POOR DAD, written with consultant and CPA Sharon L. Lechter lays out Kiyosaki's philosophy behind his relationship with money.RICH DAD, POOR DAD opens readers eyes by:

- exploding the myth that you need to earn a high income to be rich
- challenging the belief that your house is an asset
- defining once and for all an asset versus a liability
- explaining what kids need to know about money for their future financial success" ... Read more

Reviews (1475)

Eye opener !
I am a 35 y/o computer person. As I grew up, my parents told me to go to school and become an engineer, or an accountant, so that I could have lots of money. I grew up thinking it would happen, and my belief got stronger when I chose a profitable computer carreer. However, I spent 15 years working on computers, with many over-time hours, and lots of time away from friends and family because I was learning newer technologies to try to make more money.

However, I never got rich, I made good money but I was never able to accumulate more than $5,000 on my bank account. I never understood why after working so hard, money was still a big concern! I figured out that there's gotta be another way to become wealthy. I gave it my best shot at studying and working hard, and years went by and things didn't get better.

I started looking for information on wealth accumulation books, and a friend of mind recommended this book. This book has been very enlighting, I wish I had learned the principles shown in here 15 years ago. If I had, I know for a fact that money would not be a big concern for me today. I feel much better now because, even though I don't have lots of money (not yet), this book pointed me in the right direction.

I also recommend "Think and Grow Rich" by Napoleon Hill. It goes deep into detail about what to put in your mind if you want to become wealthy.

I hope my review helps.

This book is an eye opener to all of those who desire money.
I have read both 'Rich Dad, Poor Dad' and 'Cashflow Quadrant.' Being young and still in college, these two books have taught me how the rich think. As Kiyosaki emphasizes, getting a high paying job after college is not the answer to becoming financially indepent and satisfied. His books unteach the reader everything he/she has learned about money and allows the reader to focus on building wealth the way millionaires do. His books are enlightening, and his method to achieving wealth makes sense logically. After reading 'Millionaire Next Door', I could honestly tell that Kiyosaki's method is the way the truly rich think. 'Millionaire Next Door' simply focuses on frugality and spending as little money as possible. Who wants to enjoy all of their money when they become 60 yeas of age, having spent their prime years living as cheap as possible? Kiyosaki's book is excellent in teaching the common man/woman how to have money work for them and allows them to live life to their fullest. I recommend this book and 'Cashflow Quadrant' as the first two readings for someone seeking financial independence.

Powerful, life changing program
A few months ago, I was working in sales for a B>B Business Group. I followed Mr. Kiyosaki's advice and started investing my money in passive income. I bought some equities, a rental or two and started a home based business.

While my colleagues spent their checks and worked for ThankGodItsFriday and cheer for Wednesdays because it was "hump day" and yell hooray for the weekend, and then made wise cracks about my goals. I invested, left that company over 6 weeks ago and am now full time in my own business. Meanwhile, my colleagues were recently served notice that their company (my former company) is laying off 150 people!

Thank God for Robert Kiyosaki.

Can't communicate to save theirselves
Easy read-18 minutes & spelling and grammer errors are throughout. Plus, pure money making "Dribble". Follow this & you LOOSE!

A book on how to think like the rich do
This book is about strategy, not tactics. Here you will start to learn how the rich think. This book changed my life as it was the first book of my new life! It's not going to teach you the exact tactics the rich use (try the new van tharp's book for that) but more importante it will teach you the thinking behind what they do. Don't mind the bad reviews: it worked for me. ... Read more

Download Description

"In this book, one of the world's most respected technical analysts presents a complete course in forecasting future market behavior through cyclical, trend, momentum, and volume signals. Unlike most technical analysis books, Gerald Appel's Technical Analysis offers step-by-step instructions virtually any investor can use to achieve breakthrough market success.

Appel illuminates a wide range of strategies and timing models, demystifying even advanced technical analysis for the first time. He presents technical analysis solutions for short-, intermediate-, and long-term investors, and even for mutual fund investors. Many of the strategies and models he presents have never before been published. Several are based on MACD, a tool that revolutionized technical analysis¿and one that he created.

This book distills over thirty years of trading experience into a practical guide you can start profiting from right now.

Learn technical analysis from one of the world's top experts.

Hands-on guidance from Gerald Appel, publisher of Systems and Forecasts

Coping with today's unprecedented market volatility

Indispensable techniques for profiting in uncertain markets

Winning techniques that take just 10 minutes a week

Better results than ""buy and hold""¿with far less risk

Riding the tides of market wave movement

How to recognize crucial political, seasonal, and time-based cycles

MACD: The ultimate market timing indicator invented by the author himself

Includes new, advanced breakthrough techniques that revolutionize technical analysis

How you can profit from technical analysis... step-by-step!

• By Gerald Appel, inventor of the MACD technique used by virtually every serious technical analyst
• How to uncover the hidden clues that reveal when markets are about to shift
• For short-term, medium-term, and long-term investors¿including those new to technical analysis

Reviews (2)

Best Technical Book Ever -
Since reading George A book, I was able to fine tune my system/charts.
I trade equities, and Futures.

I use stochastics and Mcds + OBV.
I was able to fine tune the settings from the information on this book.
I added Envelops (Moving averages 21 days) - a lot better than Bollinger Bands.
This is a must book to completely research if you are serious about trading.

Thanks - George

Anthony Ferrari

It's the author
If Gerald Appel wrote it, I will read it.It is just that simple.Greg Morris ... Read more

Book Description

Trading for a Living Successful trading is based on three M’s: Mind, Method, and Money. Trading for a Living helps you master all of those three areas:

• How to become a cool, calm, and collected trader
• How to profit from reading the behavior of the market crowd
• How to use a computer to find good trades
• How to develop a powerful trading system
• How to find the trades with the best odds of success
• How to find entry and exit points, set stops, and take profits

1. there are more buyers than sellers
2. buyers are more aggressive than sellers
3. sellers are afraid and demand a premium
4. more shares or contracts are bought than sold

1. I and II
2. II and III
3. II and IV
4. III and IV

Reviews (141)

Really good and useful!!!!
This book contains nearly all the necessary materials for a beginning trader to start trading. I think the only area which is missing is fundamental analysis. O'Neil's book has better covering of FA but the part about TA is very weak and hard to understand.

I feel the TA part is more concise than the John Murphy's book. The later has more than 500 pages but without covering too much about trading psychology. I learned quite a lot about psychology from this book which I am using everyday in my trading. Some of them are also useful for my daily life.

Another strong area of this book is it combines the TA indicators to form a trading system. I got the idea to develop my own trading system from it. Although my system is very different from Elder's one, his idea is valid.

Among the hundred trading books that I have read, this is still one of my best favorite and I am still reading it from time to time. The price is slightly high, but I recovered the money from my first trade. Really good!!

'THE' Best Book on Trading
2 Years ago I became a full-time trader after taking several courses and reading more than 40 books on trading. Dr. Elder's book is the ONLY one that has made me money, a lot of money (603% last year).

The first half of the book deals with the psychology of both the market and the trader. I didn't fully appreciate this portion of Dr. Elder's book until I began trading. This is the biggest obsticle of the trader. His insight has really helped me to understand the movements of the market and myself as a trader.

The second half of 'Trading for a Living' deals with technical analysis and money management. This has proved invaluable to me. There is so much accurate information I've read the book eight times, that's how jam packed it is with useable information. Also, every word matters--no fluff at all--unlike most of the books on trading I've read. And, don't overlook his money management chapter. This is where amatuers fail. His simple money management system will help to elivate you to a professional trader. If you want to make money, this is the book.

technically worthless
I am a professional trader. This book has a good section on psychology but thats it. Totally worthless when it comes to the technical part. In fact I always wondered what made this book so popular with the public. I guess most people read the books but don't use the knowledge in them.

This Guy is a Psychiatrist
Alexander Elder is first and foremost a psychiatrist, and it shows when he explains his insights into individual and mass psychology in the first two chapters of the book.

These two chapters are the real gold in the book; i have not read a more succinct and hard-hitting explanation of the behavior of individuals and crowds, and these two chapters are the ones you want to read.

The rest of the book is devoted to the basics of technical analysis. There is a lot of stuff out there on technical analysis so the stuff in Elder's book is likely to be somewhat outdated.

Nevertheless, read this book for the part on the psychology. This is fundamental and basic for any investor or trader, and is crucial to your success in the markets.

Timeless gem
Aside from psychology and money management, this book is an essential reference about formulas (MACD, WILLIAMS %R, ADX and at least a dozen more). It shows whether such oscillators are trend-indicating or trend-following, whether one should use it within trading ranges or when trading a trend. Most (if not all) of these indicators contain its origins and market psychology, the formula and worksheet / chart examples and how to use it in bullish / bearish markets.

This book is ten years old. But it still proves correct in areas that couldn't be forseen back then. Although obtaining and processing all the financial data with appropriate hard- and software was a challenge back in 1993, the book does not spend too much time on such (volatile) details.

This is why I consider this book a timeless gem and a true value for any interested trader - giving it a full five star. ... Read more

Book Description

"This is the best of the how-to-invest-in-real-estate books currently available."
–Robert Bruss, syndicated columnist and real estate author

THE BESTSELLING GUIDE TO REAL ESTATE INVESTING

Now in its fourth edition, Investing in Real Estate is the straightforward guide that helps you start growing your fortune by investing in houses and small apartment buildings. Successful real estate investors Andrew McLean and Gary Eldred show you how you can outperform the stock market by investing in residential real estate–the surest and safest way to build assets.

This new edition offers an expanded discussion of the best methods and techniques for fixing and flipping properties and creating value. You’ ll also find all the information you need to start investing now, as well as up-to-date tips on maintaining cash flow, negotiating deals, spotting market trends, and using the Internet as a research tool to find and buy properties. Let McLean and Eldred show you how to:

• Buy with little or no money down
• Minimize taxes while building your wealth
• Choose neighborhoods and properties that will beat the market with faster rates of appreciation
• Grow value in your properties by investing in improvements
• Pick the best way to finance your purchases

Whether you need money for your child’s college tuition, a more comfortable retirement, or just a higher standard of living, Investing in Real Estate, Fourth Edition is the only guide you need to start building wealth now. ... Read more

Reviews (76)

Helpful For Everyone
You're not just buying a book to read here. The amount of information in "Investing In Real Estate" makes it an investment. These are the facts. The way things are. There has been spiked interest in RE recently because of the recent low interest rates which has caused an upsurge home-buying in many parts of the country. With all of the real estate courses, seminars, tapes and books being marketed, how rare is it today to hear the facts and not just the hyperbole? This is the most comprehensive and detailed, to-the-point real estate book available.

If you're a normal home owner and want to increase your home's value with some shrewd fixing-up before you sell it, you can get tons of pointers here. Want to find the best bargain with your first purchase or your new home? Manage your property(ies)?
What criteria do you use to find the best property? How do you check to make sure? Creative financing is also covered.

This is not just for those investing in apartments or a duplex but everyone. Want to rent-out your house? You will learn the basic laws and procedures, and how to write up the most appropriate lease and how to cross your "T's" and dot your "I's." Almost all of us know people who've rented their homes out and had "bad tenants." You'll learn how to screen properly here to avoid them, and how you can use the (local) law.

There are many simple and proven math models on how to calculate the return you'll get from buying a detached house, condo, duplex, tri, fourplex, or multi-unit apartment complex. The Gross Rent Muliplyer (GRM), Income Capitalization "Caps," Net Operating Income (NOI), Return on Investment (ROI), and Before Tax Cash Flow (BTCF) etc. Add these simple equations and formulas to the fact that you likely live in the community (familiar with) you'll be buying/investing in, and you'll have the best chance to earn some positive Cash Flow, and choose the best option available. Ways to evaluate neighborhoods and areas that are up-and-coming, paying less taxes, and using depreciation and deductions properly are also covered. Very important for homebuyers and owners yes, but this is the most comprehensive book written for people who are looking to purchase property to plan ahead.

Good solid book
Among all of the books on real estate investing, this one gives you the best solid introduction. Once you decide the exact strategy you wish to pursue, you will want more specialized detail (like on renovations). I also liked the authors' approach in that they tell you how to really analyze your local market to develop ideas that will likely yield the best profits. I detest books that lay out step by step the author's suppossed "secrets to success"--when in fact that strategy might not work in a different place or time. ( One book I read told me to only buy 3-BR, 2-BTH, brick houses. We don't even have brick houses here!)

Outstanding coverage
Six rental houses, one quad, and one mobile home. I'm still accumulating and I'm still absorbing as much knowledge as I can. In that respect, I heartily recommend this book. Good details, excellent examples on creating value, sound explanation of calculating returns without burying me in a algebraic fog. The chapter on leases opened my mind to many points I hadn't even thought of. Overall thorough and practical approach.

Not Bad, a little too basic and too much cheerleading.
This book was one of the first "bestseller" types of books I have read on real estate investing, and I was fairly disappointed. This book would make a good first book for an aspiring real estate investor to hear about some of the more unconventional means of getting into real estate investing, but over all the book was short on details and potential pitfalls and very big on a "You can do it!" tone that made me wonder if the author was trying to sell me an ego boost as opposed to a fair, balanced, and sober look at investing in real estate. If you already understand the fundamentals of real estate investing and are familiar with foreclosures and other more aggressive sources of finding potential properties, you should pass on this book. If you know nothing, and are just looking for an idea of what this field is all about, I would cautiously recommend this book with the caveat that its not easy, there are some restless nights sometimes, and anything that sounds too good to be true, is.

Deals with important issues and provides insight
I have been investing in real estate for 10 years and read as much as I can on markets and strategies. This book is refreshing. I gained new insights and am eager to get out there and find some new properties. ... Read more

Book Description

The world’s #1 fixed income book, now with 21 all-new chapters

The Handbook of Fixed Income Securities occupies the top spot as the most authoritative, widely read reference in the global fixed income marketplace. First published in 1983, this comprehensive survey of current knowledge features contributions from leading academics and practitioners and has carved out a niche that cannot and will not be equaled by any other single sourcebook.

Now, the thoroughly revised and updated seventh edition gives finance professionals the facts and formulas they need to compete in today’s transformed marketplace. It places increased emphasis on applications, electronic trading, and global portfolio management, and features new chapters on topics including:

• Eurobonds
• Emerging market debt
• Credit risk modeling
• Synthetics
• CDOs
• Transition management
• And many more

Reviews (16)

Follow up on Amit Gupta's review
I totally agree with Amit's review.For a practitioner's perspective Bruce Tuckman's "Fixed Income Securities: Tools for Today's Markets" is a much better choice than Fabozzi.

LOW PRICED STOCKS MAY EARN MORE A LOT MORE THAN FIXED INCOME
Many low-priced stocks have out performed fixed securities.Two books that have proven this out are:(1)Guaranteed Profits With Small Stocks: The Only Stock Investment System That Comes With A $5,000 Guarantee by R. Max Bowser, and (2) Making Dollars With Pennies: How The Small Investor Can Beat The Wizards On Wall Street by R. Max Bowser. Both books are available used and new on Amazon.com.

Comprehensive, but Dry
If you want to learn about fixed income securities, then this is your book. It is very comprehensive and contains a wealth of information.

The only downside to this book is that, unless you really, really interested in fixed income, it will put you too sleep. There were several times where I had to re-read paragraphs/pages, because I went into a daydream.

Despite this drawback, it is an excellent resource and I will not give it my copy of it.

Errors Abound
This is meant to be the fixed income manual, but if there are dozens of uncorrected math errors which is inexcusable in a sixth edition.This book is overrated, and if you are new to this subject, it is dangerous.

I recommend Bruce Tuckman's Fixed Income Securities on the same topic as a better alternative. I noticed it is currently the #3 seller with banks and credit unions (Fabozzi's isn't even on the radar screen), and there is a good reason they prefer Tuckman's book over this one.

HAND BOOK
(...)Itgives a lot of general info on a lot of different Fixed income topics.It's a good ref. for people just getting involved with fixed income.However if you are looking for focused material, you should look into one of Frank's books on that area. Good overall intuition on Fixed income markets and products. ... Read more

Book Description

Come Into My Trading Room
A Complete Guide to Trading

You can become a successful trader. It has been done before, and it is being done right now, today, by people around the world. If you enjoy learning, if you are not scared of risk, if the rewards appeal to you, and if you are prepared to put in the work, you have a great project ahead of you.

In Come Into My Trading Room: A Complete Guide to Trad