Book Description

Whether you have one unit or one hundred, this book will give you the legal and practical information you need to comply with your state's laws, find and keep good tenants, and avoid legal trouble.

A Nolo bestseller, Every Landlord's Legal Guide shows you how to:

*screen and choose prospective tenants *write a legal rental agreement or lease *hire a property manager *deal with problem tenants *understand repair, maintenance and security responsibilities *avoid lawsuits *comply with laws regarding security deposits, privacy, discrimination, senior housing, habitability and much more

The completely revised 7th edition provides updated state-by-state legal charts on everything from security deposit rules to termination for nonpayment of rent. All forms provided as tear-outs and on CD-ROM. ... Read more

Reviews (15)

No Landlord Should Be Without This Guide!
This book is fantastic for the experienced, as well as the inexperienced landlord. It sets out in plain English some of the common legal pitfalls landlords run into and how to avoid them. The books cites examples - some quite frightening - of how these pitfalls occur and the appropriate action to take. The book clearly outlines the differences in particular laws between the states. It explains all aspects of landlord law from finding goods tenants to dismissing bad tenants. The book makes a great desk reference and it's cheaper than a lawyer!

I couldn't recommend this book ENOUGH!!!
This book has helped through every step of buying my first investment property. It's like having your own professional standing over your shoulder, reminding you about every detail of every step. The section on insurance alone is completely priceless, pointing out that a landlord needs not just property loss coverage but also personal liability. And not just physical liability, but coverage of potential slander, libel, discrimination, unlawful eviction, invasion of privacy suits... And don't forget loss of rents! It's that kind of detail that maybe someone who's done this before would call 'basic.' But I admit: I am no pro, yet when I called an insurance agent and explained what I wanted coverage for, he said to me, "Um, you've done this before, haven't you?" Thank you, nolo!

The best landlord book bar-none!
This is the only book you need! It is incredibly easy to use and covers everything from rental agreements, to liability and discrimination, to maintenance, to evictions. It really leaves nothing out. The best part is the included CD-ROM which has all of the forms you'll need in an easy-to-fill-in format.
I own five properties and thanks to Every Landlord's Legal Guide I have learned how to legally protect myself and have consequently avoided countless expensive lawsuits. This book could end up saving you thousands!

A MUST!
This is the best landlord book! You have to get it. The CD ROM contains everything I use to manage my properties and be a good landlord. It makes property management and landlording so rewarding and easy than any person could succeed at it if they follow this book's guidelines.

I own 3 properties so far and this book has made my success possible!

Plain and simple...
the definitive legal guide. Accompanied with "Landlording, A Handymanual...etc" its all you need. ... Read more

Amazon.com

Despite its sensational title, David Bach's The Automatic Millionaire: A Powerful One-Step Plan to Live and Finish Rich is not a get-rich-quick guide. Rather, the book is a straightforward march through common-sense personal financial planning that suggests readers "automate" their contributions to retirement and investment vehicles. Bach, in fact, calls his model the "tortoise approach" to becoming wealthy by retirement age.

In the early part of the book Bach builds on ideas he established in Smart Women Finish Rich and other bestselling titles. His core principle is that, to succeed, you must "Pay Yourself First." In other words, he suggests using pre-tax retirement accounts (i.e. 401(k)s, IRAs, or Roth IRAs) to set aside a fixed, monthly sum of money before considering what is left for living expenses. The "automatic" part of the title comes from Bach's emphasis on using automated payroll deductions to avoid the temptation of using the money to pay today's bills.

Bach insists that "regardless of the size of your paycheck, you probably already make enough money to become rich." But his claims that his plan requires "no budget, no discipline," is a bit disingenuous. His discussion of the "The Latte Factor" shows that, to find money to start a retirement plan, a person with a modest income needs to make an up-front commitment to stop accruing debt and to reduce spending on such "wasteful" items as lattes and cigarettes.

In the end The Automatic Millionaire does not offer much that is new for readers already familiar with personal finance basics like accelerated mortgage payments, "the miracle of compound interest," and the setting up of emergency funds. But, for those just starting with financial planning, Bach provides a host of resources to put recommendations into action. He walks his readers through such fundamentals as shopping for interest rates, creating a balanced retirement portfolio, and consolidating debt. And Bach's conversational style will make this quick read highly palatable for those daunted by more detailed investment and personal finance titles. --Patrick O'Kelley ... Read more

Reviews (190)

Income is not wealth, income only pays for your lifestyle
I used to think that income represented wealth. The fact is your income is not your wealth, only potential wealth. You can live off your income, but you can't get wealthy off your income. You only get wealthy by investing and the proper use of money strategies.

Dave Bach offers powerful money strategies that really work. The first and most important one is to pay yourself first. You must save at the very least, 10% of what you earn before you pay any bills. Isn't it amazing that Americans have such great difficulty saving 10% while the Asians save over 30%!

I know some Doctors who earn a 6 figure income, but are always broke and have nothing to show for it. $150,000 income is nothing when you are spending $175,000.

Bach also offers strategies to cut your mortgage payoff time in half. Pay off credit card debt in 2-3 years, not 5-10 years and more.

I'm with a company that does business in 10 different countries. Our company did over $40 million in sales in it's first year and has created several millionaires in 17 months. Some of the millionaires in this company highly recommend Bach's advice and live by it. That's why they are millionaires. EARNING MONEY IS THE EASY PART. KEEPING IT IS THE DIFFICULT PART. NEEDLESS TO SAY, I RECOMMEND THIS BOOK TO EVERYONE AROUND THE WORLD!

I can't rave enough about Dave Bach's book. I also have his tape set from Nightingale-Conant which goes even deeper into the strategies than this book does.

An easy read and effective, too.
My grandmother, who lived through the depression and experienced WWII, gave me this book. My grandmother grew up dirt poor(she had one pair of shoes for school). She dropped out of the eighth grade and yet she is one of the most well read people I know.

This book is so easy to read and just as easy to understand. I've started putting into action the principles put forward in this book and I will have $7,000 saved by the end of the year. I will most likely double that every year, if I keep utilizing the strategies in this book.

I highly recommend this book. Granted most of the advice in this book should be common knowledge. You could learn such things in a Personal Financial Management class; but it's the book's simple language that makes it a quick and easy read. Buy this book, then read it, then practice what it preaches, and you'll be on your way to not having to sit around waiting for the government to take care of you(which is a very scary thought because I don't trust the government to know or care what's best for me).

If more people would stop counting on Medicare and social security, we would all have more money from our paychecks to save and invest for ourselves, instead of giving our tax dollars to losers who don't want to work or take initiative and save/invest for their own futures.

Nothing earth shattering, but useful
A lot of people are screaming that there is nothing really new in here. Sometimes you just have to be reminded of the basics. This is not a 7 figures in 7 days type of book. If you looking for instant wealth, look elsewhere. If you want to retire and not be stuck eating government cheese, then read it, follow it and just do it.

It reminded me of a couple things that I already knew, but just needed somebody to tell me again.

What about normal people?
I have 2 problems with this book, otherwise it is a good tool.

#1...what if you aren't in your 20's? What if you picked up this book because you are 40 and just realized that you need to do something by the time you're 65! Not much help there. This book is aimed at 20 year olds.

#2...What about when real life happens??? I did actually start saving in a 401K in my twenties. I had a couple of thousand bucks saved and was on my way...Then life happened and I got a divorce. Suddenly I needed that money just to keep my house, and by the time I was 33 I was broke and starting over. Oh yeah, and then when I started saving again in a new 401K, the market crashed and my a/c went to less than 1/2 what it had been.

I wish Mr. Bach had made the book so it could be used by people of any age. Yes, wouldn't it be nice if we all started saving at 20, but most people who pick this book up (I would bet) are in their late 30's or older, in panic mode, hoping for a couple of good ideas to help them get them from here to there without waiting another 40 years to retire.

Here's what I think about this book...
People may criticize this book and say its too simple and a bunch of common sense, I disagree. I found it very helpful and feel that simple, straightforward advice will always win in the end over some get rich quick scheme. I give it 5 stars for giving the reader sound advice most people don't practice. Other self-help books I like include "The Multifidus Back Pain Solution. ... Read more

Book Description

The million-copy bestseller, now fully up-to-date and ready for post-dot-com investors.

Using the dot-com crash as an object lesson in how not to manage your portfolio, here is the best-selling, gimmick-free, irreverent, vastly informative guide to navigating the turbulence of the market and managing investments with confidence.

A Random Walk Down Wall Street is well established as a staple of the business shelf, the first book any investor should read before taking the plunge and starting a portfolio. With its life-cycle guide to investing, it matches the needs of investors at any age bracket. Burton G. Malkiel shows how to analyze the potential returns, not only for stocks and bonds but also for the full range of investment opportunities, from money market accounts and real estate investment trusts to insurance, home ownership, and tangible assets like gold and collectibles.

Whether you want to verse yourself in the ways of the market before talking to a broker or follow Malkiel's easy steps to managing your own portfolio, this book remains the best investing guide money can buy. ... Read more

Reviews (23)

An academic's view of Wall Street
A Random Walk takes the reader on a path from the point of view of an academic, rather than that of a trader. That is sufficient to make this book different from most other stock market tomes. Malkiel's premise is that neither the the average investor nor the professional trader can expect to perform better that the "market" over any significant period of time. He considers market events to be random, and thus unpredictable. He offers piles of data to support his contentions, and his arguments are compelling.

Yet, those who trade using technical analysis scoff at books such at this, claiming their systems consistently beat the averages. The author points to the fact that most managers of mutual funds, pensions etc. fail to perform better than index funds and Malkiel recommends that public investors place their investment money into broad based index funds. The S&P 500 Index fund is recommended, as it is unrealistic to expect fund managers to perform better.

This classic has been around for 30 years and this revised edition is worth your time, especially if you have never read an earlier edition. Just be aware that many technical traders consider this to be a work of fiction.

Malkiel has an irrefutable position (paradoxically)
Burton G. Malkiel's "Random Walk," first published over 30 years ago, is now a classic text on investing and is surely worth anyone's time and effort. Simply written, Malkiel conveys the debate over the validity of the efficient market hypothesis with ease and effectiveness; this edition's updated comments on the dot-com craze are insightful and probably worth the price of the book themselves.

While I support the view that fundamental and technical analysis generally offer very little in the way of helpful advice, I believe that Malkiel's view that no investment strategy can beat the market over the long run is, to put it simply, irrefutable. Therein, however, lies its problem.

Suppose, for instance, that I have this remarkable strategy of buying and selling stocks which has earned me consistant long run returns on the market. Of course, if I tell anyone the specifics of this strategy and how wonderful it works, they will want to start using it for themselves. But then my strategy will stop working; the more people use a particular strategy, the harder it is for that strategy to continue work. Malkiel himself notes that if everyone uses the strategy of buying stocks on January 1st and selling them five days later, a simple strategy of buying on December 31st and selling on the 4th will generate consistant, long run returns. But then, if everyone adopts the new strategy, the long run returns vanish!

The key to a successful investing strategy, then, is to keep it secret. Since any strategy published in Malkiel's "Random Walk" is likely to be read and studied by millions, the moment he publishes something that would refute the efficient market hypothesis, the hypothesis is again reconfirmed. Clever devil, that Malkiel.

Other than that, my only problem with Malkiel's book is that he refers to countless articles and studies published in academia, but he leaves the inquiring reader clueless as to where to look for them. A simple "references" section would solve this problem (although it would easily provide further reason to justify publishing a new edition, thus earning Malkiel even more money).

Solid advice for funding your life
In a nutshell Malkiel's advice is to own your own home, buy no-load index funds (equities and bonds), buy international index funds, and mix your investments according to your age. You should also have medical and plain term life insurance, and cash on hand for a few months in case of an emergency. This book is a complete course in how to manage your money effectively, whether you're a millionaire or a low-income earner. It also gently but firmly chastises proponents of get-rich-quick schemes such as day traders.

First, the book explains what is financial risk, and points out that everything is risky, even insured savings accounts since inflation can destroy the value of cash. Malkiel describes just how risky various investments are, and how the risk is one investment is often offset by the risk in another. Second, Malkiel describes a variety of specific investments (e.g. no load index funds, your own home, individual stocks) and suggests how individual investors should mix them, depending on their personal circumstances. For instance, an ambitious young woman in her twenties can consider aggressive high-risk high-growth funds. If they boom, she's rich, if they bust she's young enough to recover her losses through income. This would not be true of a middle-aged couple about to pay for their children's college years.

"A Random Walk Down Wall Street" should be in every family's library.

Spurious Monkey Business
Very few fund managers, brokers or money managers can beat the market. OK, that is factual and common knowledge. Yet, the vast majority of investors entrust their stock portfolios with these poorly performing professionals instead of parking all of their investment capital in no- load index funds or ETFs. Is the market then truly efficient or are their millions of sato- masochistic investors out there that want to underperform?

In 1999, the Nasdaq market leaders traded for well over 100x p/e. It defied logic and a few shorts would have been "efficient." The market continued to rocket upwards until March, 2000 and shorts would have been death to you in 1999. A share of some company breaks out of a trading range and moves up 5% in value in 10 minutes on no news or fundamental change. This type of thing still happens. How can a market be truly efficient when there is ingrained stupidity such high levels? Consider the handicap mutual funds are strapped with: They must be at least 70% invested on the long side at all times regardless of how overvalued the equity markets are. That means mutual funds will be sloshing money in defensive industry stocks such as casinos and bottlers during a market melt down. Conversely, it means "value" stocks will be frequently trading for less than book value during boom times. In an efficient system, you have real checks and balances insuring stock prices on an equal footing with intrinsic value and not cosmetic tomfoolery.

How does investor psychology come into play? Human psychology is not efficient but it is sometimes predictable. I'm betting that whatever look Brittney wears in her next video and whatever is worn on the runways of Milan will be adopted within a few months by the hordes. The darts won't tell you that.

In 1983, a Members Only jacket and a pair of designer parachute pants would set you back maybe $150. Today, you can only find these items in a thrift store for considerably less. The lesson is that in the short term, there are all kinds of irrational trends. Over a long time span, a regression to the mean will filter out lots of follies only to be replaced by some other ridiculous fads and a few long lasting good ideas. Everybody knows that garish haute couture has a higher profit margin than the common t- shirt. I'd rather be hawking the haute couture.

There is marked inefficiency in the markets over longer time frames also. Check out the valuations on Coke and the consumer staples over the last several years and compare them with historical norms. Many stocks seem to be permanantly overvalued. And what is this fascination with historical valuations? Many investment managers are in awe of the historical valuations as if it were definitive. Frankly, the variables have changed over time and comparisons with history make less sense today.

The entire market is based on stupidity, manic emotion, misinformation and knee jerk responses. I could get into wirehouse sales tactics and conflicts of interest but I will spare you. That is not to say that it can be figured out.

Oh, and if the market were efficient it would learn from its mistakes. There were bucket shops in 1890, and there are bucket shops today. At the turn of the century, automotive stocks were doubling seemingly overnight only to later crash and burn. Fuel cell stocks were the rage a couple of years ago.
Most fuel cell stocks are now trading for a fraction of what their highs were. There is nothing new under the sun.

Has Solid Information
This book has its rough spots, but all in all it's definitely worth the money. This book has a very comprehensive treatment of risk, reward, and diversification, and these alone make it worth reading. I dispute some things that Malkiel says. He seems emotionally attached to the efficient market theory, and no piece of evidence can make him question it. It gets a little annoying to read page after page of examples that clearly show inefficient stock pricing, only to have Malkiel "explain away" the apparent contradiction with the efficient market theory. Throughout the book he also unnecessarily insults practicioners of technical and fundamental analysis, which is probably why there are some emotionally charged negative reviews. [An earlier reviewer said that this book was geared towards women. I don't know how he infered this!] Though Malkiel did not convince me of the validity of the efficient market theory, he did convince me with this book that it is very, very difficult for anyone (professional or independent investor) to consistently beat the market averages. If you can overlook the negatives of this book you will find that there is quite a bit of excellent information. ... Read more

Book Description

Real estate experts Peter Conti and David Finkel's new book Making Big Money Investing in Foreclosures without Cash or Credit is a comprehensive money making guide that helps readers discover the road to financial freedom.

Making Big Money Investing in Foreclosures without Cash or Credit is an easy to follow manual designed to help real estate investors launch a successful career in the foreclosure investing business. ... Read more

Reviews (10)

THE BEST.....
I am not to good at this and this is my first time but this book was soooo GREAT ...About 2 years ago I bought a course on TV went though it and at the end of it just could not understand it,So I gave up..Last July I was in a bookstore and came across Making Big Money In Real Estate from these two gentlemen there 2nd book and I was able to understand the concept,.Picked up this book when it came out and let me tell you those guys know how to get there point across and say it so anyone can understand it,I knew nothing about Foreclosures or what was involved or what a short sale was.
I am almost done reading this book and I now have there 1st book
How to Create Multiple Streams of Income,Just waiting to be read next.Keep up the good work guy's and Thank you..

So easy & so simple, it's a must to start today!
This book is written for everyone, easy to read and understand with all the information needed for anyone to get started. Peter Conti and David Finkel teach not only how to build wealth buying foreclosures but more importantly how to do it with integrity. Solving problems for those that have financial issues, while making sure not to ever "take advantage" of them is a point made clear throughout all of Peter and David's books. Making Big Money Buying Foreclosures..... is more than a book about Real Estate investing, as you read each page you get a real feel for the authors, the genuine spirit of fair play and sincerity both Peter & David posess reach out from each page letting you know this is not just about building wealth; but helping people.
I had the opportunity to spend this last weekend in Devner, CO with the Mentor Financial Group (owned by Peter Conti & David Finkel) and I am sold on the fact these two gentleman walk their talk. Buying foreclosures is a time spent working with sellers in an emotional state; this book teaches you as an investor how to work with these sellers in a way that is not demeaning but even uplifting. If you are an investor, big or small or maybe someone simply considering the purchase of a few properties to hang onto for future income or a more quality retirement, buy this book. Making Big Money Investing In Foreclosures......was not written and published to be put on your shelf, I have read dozens of books regarding Real Estate investment and for me, it's always been about the people I am working with and the wealth & freedom building, in that order. Even if you know nothing about Real Estate investing or are a licensed Real Estate Agent - (...) - READ IT - FOLLOW WHAT IT SAYS, EXACTLY HOW IT SAYS TO DO IT.......IT'S THAT SIMPLE! It has something for everyone and you will be glad you did.

Advert for their seminars/courses
This book is heavy on excitment and 'systems' but very light on details. Not something to buy if you want to actually go out and DO something now. This book is mostly intended to get you involved in their very expensive mentoring, coaching, or course programs.

Absolute Newbie
This category of books (Investing in Real Estate) has the formula down cold. General topics are covered as well as the gist of possible scenarios, but NO details are given regarding the process. As the saying, goes the "devil's in the details" - in this case so is the money and you won't make ANY if this is the only book you read. If you don't have ANY book on foreclosures this would be an OK place to start, but my suggestion is to keep looking or find a good foreclosure attorney (no I'm NOT an attorney) willing to tutor you in the ins and outs of the process and explain the pros and cons for the homeowner and mortgage company and where an investor/buyer may fit in.

Decent information and approaches
This book provides a relatively poor overview of the foreclosure process (understandable since it changes somewhat by locality) and spends way too much time on salesy sounding scripts to use when talking to people. However, there are enough useful tidbits to make the book worth reading. ... Read more

Amazon.com

In Conquer the Crash, Robert Prechter explains why he thinks the boom times are behind us. Based on his interpretation of the Elliott Wave principle (an idea premised on the notion that mass investor psychology is what really drives markets), Prechter believes that the U.S. economy is about to enter into a deflationary depression that few investors are prepared to deal with. In making his case, Prechter assembles an impressive array of data that in essence suggests that the bill for the last 10 years of market excess is about to come due. The second half of the book shows how to avoid becoming "a zombie-eyed victim of the depression" and offers advice on protecting one's assets in a deflationary environment (cash is king). If there's any good news in the future that Prechter sees coming (other than how to avoid it), it's that all-out depressions don't last very long. Conquer the Crash should appeal to gloom-and-doom investors and to those desperately looking for a safe haven from the uncertainties of today's markets. --Harry C. Edwards ... Read more

Reviews (89)

Who are you going to believe?
Subscribers to Prechter's newsletters will have already read most of what is in this book. But for the other 99.99% of investors in the world who are not his subscribers, he has distilled down his reasoning and recommended course of actions into one convenient place.

This book is really two books within one set of covers -- the publisher even uses two different kinds of paper stock to differentiate the "books." In "book one," Prechter draws from history and shows charts & graphs (some going back 300 years) of what has happened in situations similar to what we are going through today. Known for his Elliott Wave analysis, Prechter does not stop there. He uses all of the tools of technical and fundamental analysis to methodically build his argument that the current market downturn is very far from over. Like a lawyer presenting a case, he covers everything from esoteric considerations such as rising federal debt as a percentage of GDP, to public psychology, to the ultimate impotence of the Fed. At the end of the section, the reader is left with the choice to either believe that history repeats, or that "this time it's different."

"Book two" presents practical advice of what to do now. He offers suggestions of what to do if you're in the stock market and your account is way down. He covers junk bonds, real estate, treasuries, pension plans, 401Ks, insurance, gold, and the whole spectrum of investments. To help the reader, he lists the safest banks in the country. He has eye-opening advice for people who are relying on government protection such as FDIC bank account insurance. Finally, he shows how to actually profit in the environment we are currently in.

Some disparage Prechter for his past fault of getting out of the market too early. It's a valid criticism; nevertheless, every one of his predictions are currently playing out. How do you argue with someone who is right?

Ultimately, the reader is left with a choice. One is to follow the financial mass media, economists and brokerage analysts who say recovery is just around the corner. The other is to look at history and Prechter's prediction, along with his track record of being only one of a handful of people to predict the magnitude of the market crash. Who are you going to believe?

Shows you how to profit from the coming depression.
In his new book, Robert Prechter makes a convincing case that we are heading for a deflationary depression, similar to the environment the U.S. saw in the early 1930's, and Japan has experienced for the last 12 years. Readers are shown how to prepare, and even prosper as this deflationary scenario unfolds. While most will be crushed by the weight of their own mortgage and credit card debt, readers of this book can take advantage of a once in a lifetime investment opportunity.

Prechter's understanding of technical, contrary, and economic analysis is exceptional. According to conventional wisdom of investors, traders, and the so-called "experts" on Wall Street, external events and fundamentals cause psychology and social mood to change. Flying in the face of this conventional wisdom, Prechter maintains that in reality the opposite is true; psychology and social mood cause underlying economic and market conditions to change. Once you view events from this perspective you can successfully anticipate conditions and properly adjust your investment techniques for maximum wealth appreciation and preservation.

Prechter identifies the many ways for readers to profit off the continuing stock market decline. Whether you trade stocks, bonds, commodities, or options you will find valuable advice in this book. It will have a permanent spot on my own bookshelf next to Prechter's earlier classic "At the Crest Of the Tidal Wave". Prechter's advice will surely be used in my own trading.

Interesting but...
I like Prechter because he's an interesting, unconventional thinker. But... I want to be careful and fair... doesn't his track record leave quite a bit to be desired?

At one time (I think the early 80's), I've read or heard he did well with his market predictions. But, not sure, didn't he get the 87 crash wrong in the sense that the market quickly recovered and that would've been the opportunity of a lifetime to buy? And, hasn't he's been bearish though another great opportunity, the incredible bull market of the latter 90's?

Finally, here we are in mid 2004, with Gold holding _above_ $400, the stock averages within spitting distance of their old highs, and the fed likely to raise interest rates because of the economic recovery (along with job creation) to keep inflation in check.

It just seems like Elliot Wave strings you along... there're always unlikely alternate counts and unlikely alternates to those that make you question why the unlikely of the unlikely seem to happen so often. I'm not trying to bash; would actually prefer to be more positive; but am simply expressing an honest dissapointment.

Highly Recommended!
Prophets of doom have always made entertaining reading. In his latest fire-and-brimstone warning, Robert R. Prechter, Jr., an experienced forecaster of long-term economic and social trends, says financial Armageddon is just around the corner. While his technical analysis ("Wave Theory") may appear to be stock-market astrology, readers may appreciate his examination of the basic functions of money and credit, his argument that worldwide central banking has fundamentally altered these functions, and his perceptive comparisons of the late 1990s with the Roaring Twenties. Prechter might have appealed to a broader audience by toning down his graphs and technical talk, and focusing instead on his investment suggestions: If the market turns down, you'll save your skin, but even in a bull market, keeping your money safe can't hurt. We recommend this book to anyone looking for bear-market investment advice, as well as those interested in technical analysis or an opinionated view of business and market cycles.

A poorly argued case, even for market bears.
Mr. Prechter is best known as a popular advocate for the Elliot Wave principle. He continues this school of thought in this book.

The book is divided into two parts. The first part attempts to persuade the reader that the US economy is headed for a deflationary depression. The second part recommends actions to prepare and prosper during a deflationary depression. This specific edition of the book also includes an update written in 2004. (The original book was written in 2002.)

First of all, with any investment book review, it is important to understand the reviewer's biases. My belief is that the US will enter some type of unwinding, either through an extended securities bear market, or more severe overall imbalance. I maintain a minor belief in technical analysis but do not rely on it.

Elliot Wave analysis is, at its core, a technical analysis methodology. Elliot Wave claims to find a recurring pattern in short term, long term, and ultra-long term market price charts. What is gravely missing, however, is some sort of explanation or justification for its supposed utility. Many schools of technical analysis, for example, give plausible explanations for why "resistance levels" exist based on market or individual investor psychology. This is completely missing from Mr. Prechter's writings and thus he fails to distinguish himself from a long line of failed data miners.

This missing and crucial "why" is the most glaring hole in this book. While other writers attempt to prove a thesis through a chain of reasoning and supporting data, Mr. Prechter skips steps in his thesis. The holes are not glaring to a casual reader, but a person with some breadth in economic knowledge will easily spot large omissions.

For example, even if you accept the disjointed framework of technical and fundamental analysis, the fundamental arguments for deflation are seriously flawed. Note, also, that Elliot Wave principles claim only to predict the performance of securities. Thus, Elliot Wave is agnostic with respect to the inflation vs. deflation debate. Therefore, Mr. Prechter's arguments for deflation are purely fundamental in basis. This is where his loose foundation really comes apart. His understanding of the Federal Reserve functions are contrary to those written by many other writers and scholars, including many who share similar contempt for the Federal Reserve. This is rather crucial, because the specific authorities and obligations of the Federal Reserve can determine whether a presumed economic failure results in deflation or hyper-inflation. Convincing cases for deflation have been made, but Mr. Prechter does not offer one.

Where many market bears thoroughly argue and carefully build their conclusions, Mr. Prechter glosses over far too many details to arrive at this deflation conclusion and blatantly ignores examples that contradict his thesis. He uses the US depression of 1929 as his sole argument that monetary policy is powerless to prevent deflation, forgetting that Federal Reserve authority was much lesser back then. Meanwhile, he ignores the numerous historical hyper-inflation examples caused by monetarism, such as 1970's US "stagflation", the recent collapses of Argentinean and Mexican currency, or even popular historical cases such as the South Sea Company bubble and post World War One Germany. Mr. Prechter is either grossly ignorant or deliberately avoiding such cases. Neither speaks well for him.

Most importantly, he sets up his own case of why he is wrong. He admits that there is a small probability that he could be wrong and that hyper-inflation will set in. Mr. Prechter says that this would be indicated by a declining US dollar and a price of gold reaching above $400 per ounce. Both are now clearly true, yet in his 50-page 2004 appendix, he conveniently ignores this fact and chooses to emphasize only his market index prognostication.

The rest of his fundamental case rests on material already beaten to death by other bearish scholars. He writes about historical price to earnings ratios, the contrarian indications given by popular finance magazines and long-to-short ratios, for example. His fundamental arguments are not thoroughly presented and escape ridicule only because others have argued the case before him. He adds nothing new here.

Since the first part of the book is so poorly supported, the second part regarding how to survive a depression is irrelevant. His recommendations generally apply only to deflation and would not work in a hyper-inflation or zero-inflation economy.

When one supports an already argued case, the burden of proof is small. However, if one dares to present a different case as Mr. Prechter has done, one needs to cover all well known and reasonably applicable cases at a minimum. Mr. Prechter has failed in this regard and by his own criteria. ... Read more

Book Description

Book Description

The bestselling author of Philistines at the Hedgerow probes the secretive world of Manhattan luxury apartments, where real estate costs the most and matters even more.

Steven Gaines once again trains his sharp eye on rich people behaving badly. This time, the arena is Manhattan luxury real estate and the outlandish displays of ego, outrageous behavior, blood feuds, status hunger, and conspicuous consumption that dominate that world.

THE SKY’S THE LIMIT reveals the apartment swapping adventures of many celebrities, from Jerry Seinfeld to Barbra Streisand, from Tommy Hilfiger to Gloria Vanderbilt--with typical Gaines verve and style. But Gaines digs much deeper to tell us the fascinating story of how boxes stacked on boxes came to be seen as the ultimate in status for the rich. He introduces us to a fascinating, diverse cast of carriage-trade brokers, whose most important task is to get their anxious clients past the dreaded co-op board. And, he gives us finely etched portraits of a few of the discreet, elderly society ladies who are the real arbiters of who gets into the so-called "Good Buildings." ... Read more

Book Description

A wise and inspiring exploration of the connection between money and leading a fulfilling life.

This compelling and fundamentally liberating book shows us that examining our attitudes toward money—earning it, spending it, and giving it away—can offer surprising insight into our lives, our values, and the essence of prosperity.

Lynne Twist is a global activist and fund-raiser who has raised more than $150 million in individual contributions for charitable causes. Through personal stories and practical advice, she demonstrates how we can replace feelings of scarcity, guilt, and burden with experiences of sufficiency, freedom, and purpose. She shares from her own life, a journey illuminated by remarkable encounters with the richest and poorest people on earth, from the famous (Mother Teresa and the Dalai Lama) to the anonymous but unforgettable heroes of everyday life. ... Read more

Reviews (14)

A thoughtful exploration of our relationship with money
In this book, Lynne Twist explores the relationship that people - rich, poor and in between - have with money. For many of us, it is a relationship fraught with anxiety and the sense of scarcity. No matter how much we have, or how many things we've bought with it, there's not enough.

But through her globe-spanning experiences, Ms. Twist has found ways to replace a sense of scarcity with a more-positive understanding of sufficiency and the freedom that awareness provides.

No matter what your personal financial situation, this book will be meaningful, helpful and perhaps even inspiring. Well-written and fascinating, beginning to end.

The Soul of Lynne Twist
Rusty Schweikart was the first man to walk in space. He had been tightly scheduled with activities each moment he was floating outside the command module in the late 60's. But at one point his camera jammed, and he was able to experience just being in space and circling the earth. Many of you may have seen the video he made from this remarkable experience called "No Frames No Boundaries."

It took Rusty many years to digest and integrate this planetary experience and to realize the responsibilities he felt to mankind for the privilege he had been given. He came to call himself "a sensing element for mankind" (to know more about Rusty, his life and work  http://www.well.com/~rs/ ).

When I read "The Soul of Money: Transforming Your Relationship to Money and Life," I found that Lynne herself is also such a sensing element for mankind.

She worked for several decades as the chief fundraiser (she's raised $150 million from individuals) for the Hunger Project, which has been a revolutionary effort far beyond what some of us may remember it for in its beginnings. In that role her travels have taken her all over the world--from Bangladesh to Ethiopia, from the Women's Conference in Bejing (where she reports some of the most poignant and heartbreaking stories you'll ever read) to South Africa and the installation of Nelson Mandela, although that story is not included.

Lynne has been with the rich and famous. One of her great stories is her returning a $50,000 check from a corporate CEO because she realized it was guilt money. Read the book to find out what happened next! And, of course, she has been with the poor and apparently downtrodden. They have been her great teachers and inspiration for this book. They taught her how money can be blessed, how when it comes from love, appreciation, and intention--from the soul--it has power, it flows and it can transform lives.

Where she has been on this planet, what she has seen, and how she has thought about it and integrated it into the soul of her being is the gift she gives back to us, her readers. Very few of us have had the opportunity to go where she has gone, to meet whom she has met, and to have contributed as much as she and her colleagues have to helping to end hunger and poverty on our fragile, blue orb, as Rusty first saw it.

Lynne offers great guidance about how we can each be and be better philanthropists (the amount doesn't matter, but the intention and commitment surely do). But the core of the book (which many of us may already know) is a transformation from a "you or me" world to a "you and me." one. Buckminster Fuller first articulated that as the necessary condition we are challenged to make on spaceship Earth (also his articulation). He was someone who profoundly influenced Lynne.

She leads us through the belief systems around scarcity (fear of not enough, push to always get more, resignation that it's just the way it is) to belief systems around sufficiency (there is always enough; turn our attention and appreciation to what we already have). Sufficiency becomes a more useful word than abundance. Creating a world of sufficiency (includes sustainability) is where we are headed together.

The most compelling parts of the book are the stories she tells from around the planet about actually ending hunger and poverty. She shows that this change of belief systems (we actually do have enough most of the time; we can focus on and appreciate what we already have to get to where we want to go) along with love, understanding, and effective facilitation can get the job done. "The Soul of Money" adds the interior dimensions as a vital and necessary component to solutions to hunger and poverty.

Lynne is herself a gifted and expert facilitator, and at the personal level the stories she shares of people who pull themselves out of poverty and lack are equally riveting. She concludes with a remarkable narrative about the last months of life of her mother, her first role model as a fundraiser and philanthropist. How Lynne assists her mother to fully complete her life is a wonderful offering to all of us with aging parents.

"The Soul of Money" is about far more than just the soul of money. Lynne reveals her own soul, the souls of the rich and the poor, and the collective soul of which we all partake that holds the promise of a sufficient, just, and more peaceful planet. Just as Rusty Scheweikart took us around the whole earth from the outside, Lynne, gives us many inside views of the beauty and commonality which we share. She provides an outstanding, authentic, and worthy ride!

--John Steiner

I love this book
To read The Soul of Money is to sit down and have a memorable, life-altering conversation with an extraordinary, courageous, deeply thoughtful and committed soul. Lynne speaks intimately and passionately from each page. The book does a beautiful job of untangling the mess in which almost all of us have learned about money, and then offers important opportunities and challenges to each of us about ways to enrich our lives and those of all around us.

This book can help us change the soul of our nation/world
The Soul of Money is fully worth the praise it is getting and far more. Rooted in sufficiency and backed by moving stories situated throughout the world, this book will inspire you, enlighten you, give you hope, and certainly will make you cry.

If this book can help those of us who have been siting on the fence looking for the motivation to invest our souls in the transformation of this world, join those who are engaged in this effort, I believe that we truly can change the world. I believe that Lynn's message is one to help move all of us into activism, whether it is quiet or out there.

My personal commitment is to engage. Lynne asked me at her book signing during a conversation if I had invested in the Pachamama Alliance. I had been taking the newsletter but did not believe I was in a position to participate. I had to say no and I felt small knowing that I could have but did not participate. Oh I had my excuses, many of us do. I made a commitment to invest and I did. First a small donation to the Pachamama Alliance; then a visit to the adoption agency from which I was blessed with my little girl from India; next calls to NGO's working in the Telangana in India looking for ways to donate my time; and finally a commitment to bring Lynne to Yamhill County Oregon for a fundraiser, workshop and a book signing.

Yes I am moving out of my comfort zone of non-action and it is based on Lynne and her inspiring message. Please read this book, yes, but more than that, please join me in taking action to transform our nation and world.

Thank you Lynne for your great work though out the world and for funneling your experiences and insights into this great book.

Raise your money consciousness
Most of us think that we understand the facts of money: money is good, lack of money is bad; having more money is better than having less money; competition and scarcity are normal because it's a jungle out there; the way to cure economic depression and hunger is to throw more money at the problem; and so on. But these aren't "facts" in the sense of objective realities; rather, they stem from attitudes towards money that are so ingrained in our culture that they rarely intrude into our consciousness.

This book is an eye-opener: as a highly successful fund-raiser and representative for the Hunger Project, Lynne Twist has worked with everyone from Amazon tribal members to CEOs of multi-billion-dollar corporations. Her sensitivity and willingness to listen have given her insight into the real-life consequences of our attitudes towards money (and resources in general). The money consciousness that she propounds in this book is transformative, but it's based on a breadth of experience that makes her conclusions convincing -- for instance, she's worked in real jungles, and the "law of the jungle" is NOT the way they actually operate!

Despite the many well-chosen anecdotes, this book deals primarily in generalizations. But that's appropriate: the author's purpose is to make us aware of our attitudes towards money, and suggest how changing these attitudes can transform the way we go about solving some of the world's most vexing problems. This book deserves not only to be read, but taken to heart. ... Read more

Book Description

A family's wealth consists primarily of human capital, meaning, all of the individuals who make up the family, and intellectual capital, meaning, the sum of what each individual member knows, and consists only secondarily of its financial capital. That compelling premise forms the core of Family Wealth—Keeping It in the Family.

This classic treatise has been updated and expanded to include new essays that challenge conventional notions of wealth and that offer guidelines for conserving family assets in the broadest sense: not for just one or two generations but for hundreds of years—and not giving truth to the saying "shirtsleeves to shirtsleeves in three generations."

James Hughes, a prominent attorney and estate planner, teaches how successful long-term wealth preservation requires the creation and maintenance of a system of governance and joint decision making. Filled with inspiration and guidance, Family Wealth enunciates tested principles and practices for preserving wealth and keeping it in the family. ... Read more

Reviews (3)

Insightful!
Reading James E. Hughes Jr.'s book is like sitting down in an easy chair with brass rivets gleaming in burgundy leather, in a trusted old family friend's parlor, to obtain a kindly word of advice. You can almost smell the pipe tobacco and taste the brandy as you read. Hughes gently and wisely guides people who want to preserve their family's wealth on how to think beyond the current fiscal year. This book is genuine and straightforward, with insights gained over many years. Hughes covers creating a family mission statement, instituting a family bank or private trust company, mentoring the next generation, family governance, philanthropy and much more. His most important contribution, however, is the perspective he offers on the human side of the equation. Even the richest families are doomed to squander their inheritances, he cautions, unless they recognize the importance of the intellectual and human development of their family members. We highly recommends this book of sage advice to anyone who hopes to keep it all in the family.

A great addition to my bookshelf
I've read a lot of books and recommended them to my friends and family. This one, I bought for my partners and family. As someone who deals daily with great family wealth, it is invaluable to learn from the experiences of others. There is a wealth of ideas in this book, not just for those with great financial assets, but for those families with great human capital. I would recommend it for anyone who deals with family wealth: attorneys, CPA's, trust officers, and members of families who want to preserve their family wealth (financial, human or intellectual capital).

A New Paradigm For Wealth Preserving
As a great philosopher once said "I am not ashamed to say that I have learned the good news of the truth and am called to proclaim it to others." The truth is Family Wealth: Keeping It In The Family, is the clear result of the author's extensive discernment and constitutes that rare slice of my profession which rises to the level of a ministry. The beauty of this work lies in the author's ability to state concepts with such simplicity and flow, the reader may be lead to conclude "these insights are so patently obvious I should have discovered them myself." Many of us in the estate planning profession, however, have not previously done so. Having invested 20 years in this profession I can attest that many people with reasonable career abilities can accumulate considerable sums of wealth. Moreover, a reasonably competent estate planning attorney can draft the business and estate planning documents to pass that wealth from one generation to the next. Yet after reading Mr. Hughes' book twice (and garnering increasing insights and applications after each journey) it is manifest that merely fulfilling the professional expectations taught in law school will henceforth be insufficient to deal with the interpersonal dynamics and relationship issues which must be addressed in order to wealth preserve. Moreover, this process must be rekindled and nurtured at each generation level. I now understand that to be a truly excellent estate planner, the issues in this book must be addressed by estate planner and client. Your clients need not have the wealth of a Warren Buffett or Bill Gates to benefit from the wisdom of this book and I hope it will raise the standards for the profession as a whole as it did for me.

Douglas E. Barnes, Trust Officer and member, State Bar of Wisconsin. ... Read more

Book Description

Strategies from an IRS insider for slashing taxes, maximizing legal deductions, avoiding audits, and more

Through his years as an IRS tax attorney, Sandy Botkin discovered that most Americans could legally­­ and dramatically­­ cut their tax bills by establishing themselves as independent contractors or businesspersons. In Lower Your Taxes--­­Big Time!, Botkin explains how, outlining a straightforward program for writing off everything from family vacations to movies and plays, and receiving a subsidy of $5,000 or more from the IRS each and every year.

From tips for launching a business to strategies for audit-proofing a return, Lower Your Taxes­­--Big Time! is a gold mine of information for every frustrated taxpayer. Tax-cutting strategies include:

• How, why, and when to incorporate
• Fail-safe methods for deducting a home office and family car
• Simple but essential record-keeping tips
• Tax advantages of being a consultant,independent contractor, or independent businessperson

Reviews (20)

Excellent
The main idea behind all books like this is that you MUST start some kind of business (part time, at home, whatever) to take advantage of some amazing tax laws. Making that first move is probably the hardest step for most people. Don't expect a motivational pep talk here. Think of it like this: What would you give for a 10% raise? 20%? 30%? You can save that much in taxes if you take the small step of creating a business.

Once you are ready to take that step, this book is wonderful. Other books talk about the same stuff, but this one is easy to read, well organized, and best of all, the author cites everything to the IRS code or case law. That is important since many financial gurus (think Rich Dad series) give advice that is plainly wrong or sometimes even illegal. This book is 100% legit.

I was concerned when I heard the author was associated with Tony Robbins, but Mr. Botkin makes no attempt to sell or promote any product in this book.

Read this book, save lots of money. Good luck.

Interesting book with a very different approach
I would have given it 4 and 1/2 stars but that wasn't an option. The only reason that I didn't give it 5 stars was that the book deals with small and home bases business issues and for real estate owners and investors. I am retired and thus, could only benefit from the real estate discussion.However, I did have a business before retirement.

I got this book after reading a great review in the Orlando Sentinal.This book would have saved me a bundle had I known about this information many years ago. It is cleverly written and has a lot of good information that I myself never heard from my accountant. I especially liked all the examples and tips that I found really useful in understanding the tax planning sections I also liked the elaborations, which provided some nice insights into why Congress passed various laws or on what to do about certain laws,with a great deal of clarity and specificity.

One very unsual feature that I found in this book that I never read in any other book was all the information that was provided on how to "audit proof" each and every tax planning strategy. I have used the J.K. Lasser guide in preparing my taxes, and I have never seen as much specific information on how to IRS bullet proof each deduction as Mr. Botkin provides.

Many financial books I read are rather shallow and lack a lot of the details necessary to implement what they are suggesting. Also, there seems to be a trend in financial and real estate books to serve as a giant advertisement for consulting services or for other books. This was NOT the problem in this book,which was frankly very refreshing.

Even as a retired person, I did, however, find the real estate section to be very useful. It will save me a bundle on some real estate mistakes that I didn't know about all these years.

Some reviewer noted that this book doesn't show you how to plan for the various tax laws. He must not have read the same book that I read because this book has a lot of specificity on what to do with each applicable law.

In short: I have given a copy of this book to my son and daughter. That should tell you what I think of the book.

You MUST read this book to get all you can for your family!
We all work too hard for our money to let ignorance of available tax reduction strategies keep us from our money. I thought this book would be boring and dry as most tax books are, but I was blown away by Mr. Botkin's style and delivery. The material is laid out extremely well and everything is immediately "actionable" to let you begin taking advantage of existing laws and structure. There are loads of provisions to your advantage in the tax codes, but it is your responsibility to take off the blinders of ignorance.

I have purchased a copy of this book for my lawyers and accountants and my key team as an invaluable resource. I recommend this book over every other tax strategy and tax saving book I have ever read!

To all bogus reviewers such as "Be Careful"
To the person who reviewed my book as "Be careful" I don't know if you are a person with a competing book, have some sort of "ax to grind" or just dumb; however, NO WHERE in my book do I advocate setting up a home based business solely for tax benefits. The book is designed for people who specifically have a bona fide small business operated with an honest expectation of profit. In fact, had you taken the time to read my book, you would have seen that I get into this in great detail in Chapter 8, "How to Shield Yourself From The IRS Weapon of Classifying Your Business As a Hobby." See pages 109- through 130 and specifically mentioning what you note on the top three paragraphs of page 122. Also, just for the record, over the years, I have had numerous attorneys, accountants and even IRS agents comment on the depth of my business vs. hobby discussion.

I normally don't respond to reviews since I don't mind criticism of my book. In fact, I encourage it if it is fair so that I can make changes to future editions. However, you are way off the mark, and I, therefore, felt that you this needed a response.! I should note that I am always trying to give the best information in my material. If mistakes occur or if you feel that I can present it in a better manner, please send your suggestions to my email at trisem@aol.com. Send it to the attention of Sandy Botkin

Buying another one!
I bought this book based on the reviews and they were right. I loved it - it's straightforward, easy to read, and really has great advice! To note - this book is all about lowering your taxes by having your own business. If you're not interested in this option, this book isn't for you. My mom liked it so much I gave her my copy and I'm online to buy myself another. Highly recommend! ... Read more

Book Description

If you own rental property, you should be taking advantage of the many tax write-offs available. Every Landlord's Tax Deduction Guide gives residential landlords the plain-English guide they need to save money on taxes -- without the services of a high-priced accounting firm.

This book explains how to maximize your deductions. Find out how to:

*fill out IRS Schedule E *take real estate tax credits *figure out if an expense is a repair (deductible) or an improvement (depreciable) *maximize your depreciation deductions *deduct losses arising from real estate ownership *keep proper tax records *deduct home office, travel, casualty losses and much more

Every Landlord's Tax Deduction Guide is comprehensive yet easy to read, jam packed with interesting and relevant examples. ... Read more

Book Description

Eight years ago, Dr. Thomas J. Stanley swept aside the mythical magic curtain of wealth to reveal The Millionaire Next Door. America found out just who and how common the truly wealthy were in this country¨and we learned the characteristics and habits that made them so. Now the author of the follow-up The Millionaire Mind focuses on one of the least understood but increasingly rich demographics: Millionaire Women Next Door.¨Why write another book that profiles millionaires?¨ Stanley asks. ¨The vast majority of the millionaire respondents (92 percent) in The Millionaire Next Door were men. . . . I felt that it was indeed time for successful businesswomen of the self-made variety to be heard.¨ And heard they are in this book that is destined to become every bit as informative, quoted, and inspirational as the author¨s earlier works. Readers everywhere will be fascinated by Stanley¨s thoroughly researched findings and conclusions. More than a simple extension of his studies of male millionaires, Millionaire Women Next Door presents groundbreaking concepts involving the nature, lifestyle, and business choices of successful American women that reach far beyond the scope of the author¨s previous studies. The book examines the choice of businesses elected by self-employed women, ranking over 150 categories in terms of their profitability and probability of success. It also describes the women¨s background, highlighting the fact that most millionaire women were raised in nurturing family environments that were literally training grounds for success, instilling the values that make this group one of the most generous in American society as demonstrated by its level of giving to charities, family, and friends. While many characteristics such as frugality and simplicity of lifestyle are similar to those of their male counterparts, Stanley demonstrates that most millionaire women work harder and do better¨at school, in business, and in investment practices. Millionaire Women is sure to be one of the most read, reviewed, and discussed books to come out this year. Make your own wise investment for a wealth of solid sales. ... Read more

Reviews (12)

And now The Millionaire Women Next Door
I bought this book for my wife over two weeks ago at our local Borders. Having been a fan of Stanley & Danko's first great work, The Millionaire Next Door I was anxious to see this new version for the female gender.

I was not dissappointed. Millionaire Women Next Door profiles the most successful women. It shows the businesses they got into and how they achieved their great wealth.

While I know Mothers day is over, guys, I highly recommend this book for your wives or significant other in your life. Let thme see how great wealth is achieved by the gentler gender.

Hopeful, helpful, and riveting book
If you're a woman who didn't quite see yourself in The Millionaire Next Door, there's hope. Women are different than male millionaires in several important ways. For example, the typical male millionaire has married once and remains married, but over half of female millionaires have been divorced. Women are also more generous than men.

The book mainly talks about business owners becoming wealthy, but it also talks about alternatives to business ownership. Stanley profiles a star saleswoman, educators (a wealthier group than you realize), and stay-at-home women who act as managers of their "family office". He also discusses parenting your children so they can develop a millionaire mindset. Many situations are presented in this book, so you can probably find something that will apply to you.

As for helpful advice, the author points out cautions women need to consider. Women need to watch out for the "Marginal Bob" worthless first husbands. Women also often provide continued financial support to their grown children and grandchildren. This "economic outpatient care" hurts both parents and children.

I enjoyed reading this book. It was well written and thoroughly researched. I will buy more copies for graduation gifts.

Did you really read the book 1 star reviewer
When I read reviews like the one that precedes mine and says that this bookis just a rehash of Dr. Stanleys earlier work, I have to wonder why people post reviews who obviously never read the book.

But upon checking reviews on The Millionaire Mind, I couldn't help but notice the same nonsense that The Millionaire Mind was supposedly the same as The Millionaire Next Door. And then upon reading some reviews on The Millionaire Next Door, people were comparing that book to books written by other authors.

I guess the millions of copies that were sold were purchased by people who must be extremely ignorant and naive right? WRONG! DEAD WRONG!

Each one of Sr. Stanleys book's are different. The fact that this book is titled Millionaire Women Next Door should be a hint that this book is different. As a female, I am glad that Dr. Stanley decided to profile the many millionaire women out there. In fact, it's past due time for the female sect to get ample recocgnition for our accomplishments.

And let's not forget that it was and still is more difficult for females to move ahead in corporate America than their male counterparts, even if the females do have better skills. Fortunately, that trend is slowly changing.

Men and women are different. Comparing this book to The Millionaire Next Door which profiled the men is like a doctor giving medication for male sexual disorders to a female.

I am glad that Dr. Stanley wrote this book and grateful that he has given the female sect the recocnition and praise they deserve. To me, this book is an inspiration to achieve in a world dominated primarily by the male sect. Dr. Stanleys great work gives hope and purpose for females who feel overshadowed by the men. It also shows that female gender can kick butt in the business and financial world and in many cases, far outperform men.

Millionaire Women shows the mental makeup as well as other factors that enabled females to achieve great financial success. Dr. Stanley, I applaud you for this work. 1 star reviewer, try reading the book before writing a review and get a life!

Rehashed Bestseller
If you enjoyed , The Millionaire Next Door, skip this book ! This new book, " Millionaire Women" is a rehashed version of the first book. It is written to answer the question, " How are female millionaires different from male millionaires ? ". It gives tidbits about how much more men spend on shoes then women, etc. It would be an interesting magazine article but there is not enough new information to warrant a new book. I was left wondering if the author signed a multi book contract after the success of "The Millionaire Next Door".
The worst chapter has to be the one on part time workers. The two people profiled ( one male, one female ) both own rental real estate. Dr. Stanley gushes that they "... make money even while they sleep !". This chapter reads like a script from a late night info-mercial ! It doesn't cover any of the practicalites of purchasing a rental, finding tenants, legal problems, maintenace issues or what to do if the tenants don't pay the rent. If you believe the description of being a landlord in this book, you will believe that you work less then 20 hours a week and due nothing more then deposit checks.
Another disappointment was the chapter on Stay at Home Moms. The author calls these, Family Office Managers. They are frugal with their spending and invest on a regular basis to accure wealth over time. The chapter was disappointing because it was only 8 pages long and includes a long letter from a woman who created family wealth this way but must give all of the credit to her husband.
If you have never read anything by Dr. Stanley on this topic, It is well worth your time to read one of his books. In our "Spend, Spend, Spend" culture, it is important to know that everyday people create wealth thru a frugal lifestyle and investing. They invest in stocks, bonds, real estate or their own business. They do not get rich over night. They do not have flashy cars, clothing, homes etc. They live a middle class lifestyle and keep their wealth to themselves. They donate to worthy causes, help their families and have financial security in their retirement years.
It is interesting to note that many of the folks he interviewed for this book had read " The Millionaire Next Door". They admitted to checking it out from the library and not buying it. They are too frugal for that !

Outstanding book - Hooray for the wealthy women!
This is vintage Dr. Stanley. Thoroughly researched and accurate. I suspect that the 1 star reviews and unhelpful votes are from men who are jealous of the opposite, but very wealthy and successful gender.

Thank you Dr. Stanley for pointing out that so many women have outperformed men. It's about time. Hooray for the Millionaire Women! ... Read more

Amazon.com

With the stock market breaking records almost daily, leaving longtime market analysts shaking their heads and revising their forecasts, a study of the concept of risk seems quite timely. Peter Bernstein has written a comprehensive history of man's efforts to understand risk and probability, beginning with early gamblers in ancient Greece, continuing through the 17th-century French mathematicians Pascal and Fermat and up to modern chaos theory. Along the way he demonstrates that understanding risk underlies everything from game theory to bridge-building to winemaking. ... Read more

Reviews (111)

No Risk here, The Odds areYou'll love it.
i'm very much a novice in the study of risk and probabilities; however, I've been lucky enough to come across some excellent business oriented books - but in actuality and thankfully far more philosophical than financial - (Fooled by Randomness for instance) lately that have done a masterful job of presenting this seemingly dry subject in a very fascinating way. Bernstein has probably written the quintessential historical study on Risk and Probability with this volume. It is filled with interesting details of the human qualities and quirks of the mathematicians and philosophers that investigated the problems of probablity and explains the mathematics involved with lucidity and wit. The book follows a chronological approach; however, it's also thematic to show the evolution of the subject of risk management and the influence of other sciences on it - such as evolution. Those that refuse to accept the idea that markets remain unpredictable despite the development of modern risk control mechanisms like derivatives, computer modelling, and modern financial instruments will find this book frustrating. Those who want a wquick fix investment solutions guide will be even angrier and will nort find anything useful here. This book belongs in the philosophy of science and History of Ideas sections far more than the business dept. Nonetheless, the serious and thoughtful investor is advised to read this book carefully. as someone who's lost in the stock markets himself the Bernstein's book can reduce the sting of the loss and impart some well needed wisdom. I no longer invest but I loved this book all the same.

Long on history, but short on risk management strategy
The title of my review is aimed at warning those expecting to find a risk management manual in this book that they will be disappointed. So will those who expect to find the links between the evolution modern statistics and acturial science to the rise of insurance markets and risk management instruments which have proliferated in this century. Many other books quite ably cover these interesting topics.

Instead, the author provides a broad sweeping history of how modern statistics evolved and which answers some questions of why it took so long for modern risk management institutions to emerge. Ancient Greeks, among others, who appeared to be within easy reach of developing statisical theory, nonetheless relegated their fate to the whims of gods, rather than making them amenable to analysis with probabilities and actuarial tables. Tracing modern risk management from the time of Jacob Bernoulli's attempt to develop probabilities from sample data, the author also shows how a knowledge of probabilities can ultimately generate value. QUOTE Reality is a series of conneceted events, each dependent on another, radically diffeent form games of chance in which the outcome of any single throw has zero influence on the outcome of the next throw UNQUOTE The book closes with risk management innovations that followed the emergence of financial volatlity in the 1970s.

Ultimately, this book may be of less interest to statisticians and investment professionals, other than those who have a curious interest in how today's highly developed set of instruments, institutions, and policies around risk came about from the foundations provided in statistical theory.

History Buffs: Here you go!
Against the Gods draws you through a vast time span. Peter Bernstein begins with the conception of the Arabic numbeting system, up through present time super speed computers. Although, the history found in this book is interesting, the title leads you to believe it is all about