Product Description
The Glasgow Edition of the Works and Correspondence of Adam Smith represents the first comprehensive Smith index ever published. For over fifteen years, Liberty Fund has made paperback editions of these classics accessible to a wider audience than ever before. Now, with the publication of a new comprehensive Index to the Works of Adam Smith, students and researchers in all fields have a single, unified source for locating Adam Smith's many contributions to such diverse fields as economics, morality, philosophy, and law. This easy-to-use index helps students, readers, and researchers to trace their topics of interest through all of Adam Smith's work. ... Read more

Product Description

The amount of material published in business and technical communications is still growing despite the number of textbooks, guides, and other resources that have already appeared. Universities continue to stress communication skills in business and engineering, partly in response to concerns expressed by executives and managers. What students and practitioners require for skill improvement are clear guidelines, well-structured outlines, and pertinent examples. This work locates these essential materials and the research tools needed to unlock them.

This handbook couples research sources, an annotated bibliography of how-to information, and detailed indexes to identify the most relevant items in aiding business and technical communication. Organized in two sections, the first consists of a research handbook, consisting of tools (i.e., dictionaries), resources (i.e., databases), and information providers (i.e., associations). Part two is a topical bibliography of books on general, written, and oral skills in business and technical communications. The printed works featured in the book emphasize approaches, formats, checklists, guidelines, models, and other helpful aids.

Product Description
Long kept a secret by financial insiders, index funds are rapidly growing in popularity. Index funds are unit trusts that track the performance of an index. An investor can buy shares comprising the index or buy a sample of shares that make up the index. A fund s value is linked to the index, meaning that if the index rises, the value of the fund also rises. Index funds outperform 80 percent of managed funds, and more and more investors are turning to these funds to reduce the anxiety and expense of trying to beat the market and predict what stocks, bonds, or mutual funds will perform well. In this book you will find out why insiders have kept these funds a secret and how you can benefit from them. In this new, comprehensive book, you will learn the different indexing methods, including traditional indexing, synthetic indexing, and enhanced indexing, and you will learn the advantages of index funds, among them low costs, simplicity, and lower turnovers. You will read about diversification, asset allocation, capital gains tax considerations, enhanced index funds, and the common mistakes investors make with index funds. Furthermore, you will learn how to achieve balance, how individual funds perform, how to use exchange traded funds for effective asset allocation, how to choose the right fund, how to develop a portfolio, how to gauge portfolio risk, and how to determine your risk capacity. We will provide you with a list of funds, specific strategies, and step-by-step guidance on active indexing. We will explain the efficiency of indexing, the flexibility of active portfolio management strategies, and the benefits of index funds compared to traditional mutual funds. Whether you are a first time investor or a stock market pro, you will discover valuable information about how index funds work, what factors to consider before investing, and how to avoid common pitfalls. By reading The Complete Guide to Investing in Index Funds you will ultimately learn how to maximize your return while minimizing your risk. ... Read more

Customer Reviews (6)

Index Funds - The Way to Go For a Beginning Investor
"Index Funds" are the way to go if you are going to invest in the stock market according to Baird.If you are a novice when it comes to investing or someone who needs to brush up on investing options, this book is the one to help you decide in which direction is your best option.

The book is an easy read with many explanations.The table of contents is very detailed, allowing the reader to find specific sections for easy referral at a later time if needed.Baird starts out in the preface by letting the reader know where he got all of his experience.

The author also gives an interesting, yet understandable history of the stock market.He refers to several people who have had an influence on the industry on how things are done today.He includes a detailed Appendix with the acronyms of the industry, resources of where to find extra help, internet resources, and a detailed list of all the companies that are our there to help people put their investment portfolios together.

The author is constantly reminding the reader that the stock market is not for the faint at heart.He stresses that investing is something that needs to be planned and needs to be very well managed, either by the individual or by someone that the individual might hire to help them on the road to investing.

I found the information to be very valuable and understandable - very user friendly.

Good for beginners.
This book presents index funds in a pretty basic manner.I was not familiar at all with index funds, and when I started reading the book it was pretty heavy to absorb.As I continued to read, I found that it made a lot of sense.Now I feel I have a good overview of what index funds are and how they work.More importantly, I have an understanding of how these funds can work for me and help me in saving for retirement.
During recent months I have taken a strong interest (due to our current amazing economy) in my financial situation, and was looking for a way to not fret so much about my investments and hard earned money.Most of the books I have picked up are too complicated and contain what appears to be occupational jargon that made no sense to me.After so many disappointing reads, I was hesitant to even look into index funds, which I knew pretty much nothing about.I stumbled upon this book, and took the chance that it might offer something to me.Turns out it has been the most informative financial book I have read in years.I recommend this book for anyone looking to take hold of their own financial future with understanding.It's a great start, not just for index funds, but to get a better general view of all forms of investments.

If You've Ever Wondered About Index Funds, This is the Book for You
With the instability of the stock market (as we all know from last year), investing seems to be a very risky business."The Complete Guide to Investing in Index Funds (How to Earn High Rates Safely)" by Craig W. Baird offers an alternative method of investing with low risk and high rewards.

As someone without any knowledge of investing whatsoever, the book was easy to understand even for a layman like me.Baird supplies step-by-step directions that are perfect if you're trying to develop your own investment portfolio or even if you're looking to rework your existing portfolio.

The main point that struck me was Baird stating that it's all about `replicating' the market through investing in index funds and not `gambling' away your money in the stock market.Baird provides an in-depth history of index funds which really didn't interest me as a layperson, but I'm sure this information would provide insight for serious investors.

With a plethora of definitions and sound advice, if you've ever wondered about investing in index funds, The Complete Guide to Investing in Index Funds (How to Earn High Rates Safely) by Craig W. Baird is the book for you.

A Lower-Risk Alternative
The Complete Guide to Investing In Index Funds explains how to take the game of chance out of investing and puts the reader's mind at ease by arming him or her with knowledge. In a conversational tone that is absent of hard-to-understand jargon, the book explains index funds, the different types, their history and their value to the current or aspiring investor. Plus, the publication provides the step-by-step process for opening and managing an index fund account.

Craig W. Baird provides extensive research and evidence to show why index funds are a lower-risk alternative to investing blindly in the stock market. He notes that the investor may achieve less return but that he or she will not be risking such a great loss either. After such unstable economic times over the past few years, The Complete Guide to Investing In Index Funds is a must-read for anyone considering investing or revamping his or her portfolio.

Index Funds for Everyone
Let's say you inherited or won $100,000.00 in the lottery. You might be inclined to invest the money in the stock market, in the hope that you could turn your $100,000 into $1,000,000 or maybe even more.Some people, money in pocket, would go straight to their local stockbroker, in this book known as a stock picker.Some, with a gambling mentality, would choose to invest the money themselves, spending endless hours in front of the computer looking for the best stock to sink their money into.But whoa ... before you begin investing in stocks you feel good about, and before choosing a stock picker who may not know much more than you, you might want to check out index funds.

Through my 403b, I've been invested in the market for years ... but I have to admit I didn't know the difference between an index fund and a mutual fund.So this book is a Godsend for somebody like me who is somewhat ignorant about the stock market and too busy (or not interested enough) to spend the necessary time to become my own stock manager.Every night at 10:00 pm sharp my husband heads to the den to watch Jim Cramer's Mad Money.Cramer's Stay Mad for Life and Mad Money are the only two books he has ever cared enough about to order.Sometimes he asks me to come in and watch with him, but I have to tell you that while I find Cramer's antics very entertaining, I just don't get excited about it the way my husband does.Money and making money is his passion.

In Jim Cramer's Stay Mad for Life, he tells us that "My standing rule is that in order to do well, you absolutely must spend at least one hour a week doing homework on each stock you own, in addition to doing a lot of research before you buy."Now, depending on how many stocks you own, that could add up to a pile of time, time I'd rather spend doing other things.Which brings us back to The Complete Guide to Investing in Index Funds, a book for people like me.Mr. Baird explains how index-fund investing makes things easier for investors, opening up the doors for millions of people to find the financial solutions they are looking for, and helping them realize that the goal should not be to beat the market but to replicate it.

With simple explanations of index funds, benchmarking, mutual funds, international investing, commodities, and risk tolerance, Mr. Baird gives us all the tools we need to put together a portfolio which will stand the test of time and help us meet all our financial goals.With the knowledge you will gain by reading this book, you'll be able to invest your money well, with low risk and high rewards.So go ahead, read this book ... and you'll be ready no matter what surprises come your way.
... Read more

Product Description
Throughout the last fifteen years of the bull market, individual investors were able to participate and amass financial holdings by way of mutual funds.But the constant buying and selling to "beat the market" and grow their fund's wealth also entailed costs and capital gains.And who paid for it?The investor.Over the past 20 years smart investors began switching to index mutual funds to keep more of their money.Indexfunds buy and hold all of the stocks in an index, dramatically reducing trading costs and taxes. And now, with Larry Swedroe's expert advice, the small investor can take advantage of this investment strategy and win big.In The Only Guide to a Winning Investment Strategy You'll Ever Need, Larry Swedroe explains:
*How index mutual funds out-earn older investment strategies
*How to pick the right balanced "passive" portfolio that will reward investors with the highest expected return for the amount of risk the investor is willing to accept
*How to play the winner's game with this big and rapidly growing investor trend. Based on over forty years of research by the world's leading financial economists, the advice Larry Swedroe offers in this new and valuable book shows that those willing to move beyond conventional wisdom will open themselves to a method ofgreat financial growth.
*The Only Guide to a Winning Investment Strategy You'll Ever Need is the first major book on the newest Index Mutual Funds and strategies, today's biggest investor trend. ... Read more

Customer Reviews (70)

Great education for a dummy like me.
Larry Swedroe does a great job explaining the concept of the Modern Portfolio Theory and using index funds in a passive way opposed to a fund dependent on a manager. The first part of the book supports why an investor should avoid the trade magazines,newsletters,and MR. "I know it all" who ends charging you the higest fees and commissions.
Chapter 7 is worth the price of the book since this is where Swedroe shows the best ways to built a portfolio.
I had some concerns and emailed the author and he responded the very next day(can't beat that).I've read some other books on investing but this one like a good movie has had me thinking ever since.

Good Introductory Book on Investing...but...
The book is an easy read and can be understood by beginners as well as the experienced.Beware that the author does over state the advantages of indexing and passive investing to some degree--take note of "assumed" realized gain example on page 48--active managed fund of 8% in capital gains vs 1% in passive.If he actually looked at some annual reports of actual mutual funds, the difference between active and passive funds in the tax efficiency area is much less.

The author goes on explaining the higher historical returns of smaller companies on page 120.However, it has failed to remind that the much higher trading expense noted on page 94 must be accounted for thus the difference is less than dramatic.

The book could have discussed in more detail how the weighting of the funds for proper diversification used on sample portfolios from pages 153-160 was determined.He accused market timers for data mining--back testing for patterns yet these portfolios rely to some degree on value stocks outperforming growth stocks over the long run.

The worst criticism is that the book is biased for use of DFA funds--thinly disguised marketing of his own firm who Buckingham Asset Management which is one of the few firms which handles these funds.As noted, these funds are available only through select fee only advisors or through pension funds.What it failed to mention is that most fee only advisors only take clients with at least $100,000 to invest and for those with less than $500,000, the fee is typically 1% per year.This is addition to DFA fund's own expense of about 0.6% making them effectively a loaded fund.

I agree DFA funds themselves are very well structured line of products.However, the difference in expense and the seemingly endless addition of new indicies makes me feel that their small edge is getting lost.There's a fairly good debate on indexfunds.com on DFA vs Vanguard which is worth a read before enlisting an expense manager.

The author took incredible efforts to discredit professional fund managers for their mediocre performance of expensive active management.Part of the reason was that managers tend to drift away from established styles after being frustrated from recent underperformance.But the author defends fee only advisors that they can add value by making sure you follow your own strategy yet cautions that the investor should retain the last word.The temptation for the advisor to come up with a "better" plan while you're investing in an established strategy exist.The advisor's job is to make sure the investor doesn't make the mistake of drifting in style but also has the opportunity to influence a style drift.All the effort of promoting low cost investing approach seem to have gone to waste the moment the author is subtly pushing fee only advisor.

Author attempted to discredit Professor Jeremy Siegel's claim that small cap stocks do not outperform large cap stocks if an 8 year stretch is removed from a 70 year record on page 119.The author used a completely different index than Professor Siegel.It's still debatable whether there was a simple abberation in historical return or not especially considering the added trading cost of smaller companies.

The numbers seem to be exagerrated a bit by pulling things out of context so be careful with any numeric claims and draw your own conclusion only after doing more research.

Despite these problems with the book, it is a good read.It explains the merits of passive investing, the principals of diversification, why fundamental/technical analysis aren't necessary or may even be counter productive, etc.

I highly recommend reading Jeremy Siegel's "Stock for the Long Run."

Strong Foundations For Investors
After reading Larry Swedroe's excellent second and third books I felt compelled to return and read this, his first book.My urge to do so has been more than adequately rewarded by this excellent text.

Larry Swedroe lays strong foundations by focusing on three major areas.First, he summarizes the results of several studies indicating that passive investment strategies outperform, over time and by a wide margin, active investment management.Second, Mr. Swedroe offers the individual investor a through overview of Modern Portfolio Theory and its subset, Efficient Markets Theory.Third, Larry provides a guide to the construction of a portfolio and discusses the roles investment advisors may undertake for the individual investor.

While some of the material in this first book is duplicated and updated in the second and third books, I recommend all three of these texts to individual investors.Larry Swedroe possesses the knack to take recent academic research and pass it on in an understandable, common sense manner to the many individual investors who do not possess advanced degrees in statistics.

My own library of "good books" on investing has grown to nearly 20 different texts.All three of Larry Swedroe's texts make my "good book" list.(I have rejected over 100 other texts and not included them on my "good book" list.)I highly recommend all of Larry's books, together with additional texts by Burton Malkeil, Peter Bernstein, John Bogle, Bruce Temkin, Roger Gibson and others.Larry's three books greatly assist the individual investor to build a solid base of knowledge to understand what works (and the many things that don't work) in investing.I highly recommend this book, and all three of his books, as key additions to every serious investor's library.

Swedroe
One of the best books on investing in index funds you'll ever need. The model portfolios are a big help too, and Swedroe's strong cases and academic studies supporting his ideas; it really convinces you to why you should invest in index funds. After interacting with the author, who, is one of the smartest men on investing, I can't wait to read his other books.

Swedroe is one of very few honest folks in the business
I read this and his first book. It changed the way I invest completely. There is far too much conflicting interests on Wall Street. From Wall St Houses, Mutual Funds, Investment advisors, analyst, on and on. They are all driven by getting a share of your investment dollars - performance is secondary. (Just look at returns from the mutual funds and the fees they charge - it is criminal). Passive management is so logical. Especially when so few of these advisors and funds EVER beat indexes on a consistent basis. Swedroe's books are both excellent. The second devotes more time to asset allocation - which is important even in a passive management structure. ... Read more

Product Description
Designed and written for active traders who are interested in practical information that can improve their results, Trading Index Options offers tried-and-true techniques without a lot of theory and math. Bittman provides traders with the know-how to evaluate practical situations and manage positions. Among the key features: the basics of index options, including various spreads; how to match strategies with forecasts; alternatives for losing positions; the importance of price behavior and volatility. A windows-based software program that provides multiple option pricing and graphing is included in the package. ... Read more

Customer Reviews (15)

Don't buy Kindle version
Like others I have noted that the software doesn't work anymore that comes with the book.Also, I can't understand why they sell a kindle version, when the software obviously would not be provided.I could not find the author's e-mail address so I could not request an alternate software program.

updated software is available from the author...
The book is very good from a professional options trader and teacher.

A lot of the comments from people who recently bought this old (but good) book for the software, were not diligent enough to think about contacting the author.I contacted the author and he mailed me an updated version of the software that comes with the book.He was very kind and cordial.

Good Book with Outdated Software
The good news is that this book is very nicely done, providing a useful foundation to beginner and intermediate options traders. I found that I learned quite a lot about the interactions between option pricing and the various factors influencing pricing. The author provides numerous case study examples utilizing the OP-EVAL(TM) software included with the book. A majority of the book contains detailed examples describing how to use the software and interpret the output. The bad news is that the software will not run on current Windows operating systems (Windows 98 or newer). So don't buy the book if you want to try the software on your own. Efforts to contact the author, through the publisher McGraw-Hill, about the possibility of updating the software, have been unsuccessful. Otherwise a good book.

5 Stars is not enough
From the beginning pages, the explanations are flowing and account for all levels of competency in options. When you finish the very readable book, you will have a solid understanding of index options. The graphs are excellent while the mathematical concepts are carefully explained. I have traded stock options successfully for the past ten years and I now have enough confidence in my knowledge of index options to not panic when hitting the enter button.

Software Will Not Install on Windows 98
I was eager to use the software that came with this book, but since my PC runs on Windows 98, it will not install.They should update the software so it will run on later versions of Windows before they sell the book again, or least ask you what version of Windows you are using before you place the order. ... Read more

Product Description
Investors are waking up to Wall Street¿s biggest secret: the majority of actively managed mutual funds will regularly underperform the S&P 500 index. Index investments are a new class of easy-to-use investment tools¿WEBs, SPDRs, and others¿that trade like shares of stock, even as they reflect the market indexes they track and the fund-topping performance those indexes provide.Outpacing the Pros provides today¿s independent investor with a detailed introduction to stock indexes as a key element in either short- or long-term investing strategies. This complete guide to stock indexes looks inside today¿s most little-known, exciting investment, with:*What index investments are and how they work*How to use indexes to safely, effectively diversify any portfolio*Four sample portfolios using indexes ... Read more

Customer Reviews (2)

the next best thing to the Millionaire show
There probably are some faster ways to become a Millionaire, but aside from game shows, this probably is the best first step for most of us.

This book is cheerful and gives accessible exampleswith approachable math (very little) to explain a complex and confusing topic.

For recovering tech-stock fanatics, that is perhaps the best argument for indexing. The book has a good mix of why it works, how to make it work and some convincing arguments about why we should try indexing. And, if you still want to try and find the next Cisco (and sell it in time) the book shows how indexes can be used to judge stocks. It's a great introduction to the topic ,

"Moreover," Mr. Blitzer adds, "it is simple and easy and leaves time for other activities you may like better."

the next best thing to the Millionaire show
There probably are some faster ways to become a Millionaire, but aside from game shows, this probably is the best first step for most of us.

This book is cheerful and gives accessible exampleswith approachable math (very little) to explain a complex and confusing topic.

For recovering tech-stock fanatics, that is perhaps the best argument for indexing. The book has a good mix of why it works, how to make it work and some convincing arguments about why we should try indexing. And, if you still want to try and find the next Cisco (and sell it in time) the book shows how indexes can be used to judge stocks. It's a great introduction to the topic ,

"Moreover," Mr. Blitzer adds, "it is simple and easy and leaves time for other activities you may like better." ... Read more

Product Description
The essential handbook for anyone involved in trading these popular derivative instruments. Updates to the first edition include a new analysis of the trading strategies of Barings Futures, Singapore. " Sutcliffe's Stock Index Futures is as thorough a review of the issues relating to index futures as one is likely to find. The author discusses a very broad array of current issues, furnishing in each case a well-written summary of the economic theory as well as a brief review of the relevant literature. The author's articulate treatment of the topics and the ample numerical examples make the book a good primer for anyone interested in index futures. The exhaustive coverage makes the book an instant reference guide for anyone working in the futures area. ... Read more

Product Description

This is the eBook version of the printed book. If the print book includes a CD-ROM, this content is not included within the eBook version.

Product Description
Because wealth management encompasses a variety of disciplines--the management of personal risks, prudent investing, reduction of income taxes, and ensuring appropriate estate distribution--traditional performance measures are misleading and ineffective. In this landmark book, Ross Levin presents the Wealth Management Index T M, an innovative tool for financial advisors to quantify their clients' success in financial planning. The index helps financial advisors establish rational goals with their clients and measure their progress toward achieving goals. Wealth Management Index includes: Guidelines and strategies for determining your clients' unique needs; A detailed discussion of each section of the index--asset protection, disability and income protection, debt management, investment and cash flow planning, and estate distribution; Step-by-step procedures on how to implement The Wealth Management Index TuM in a financial planning practice. ... Read more

Customer Reviews (2)

The Benchmark for progress in financial planning
Until I read this book, I was struggling to find a repeatable way to benchmark the progress (or lack of) that client's were making towards their financial goals. This book solved my problem and as a financial planner, it may solve yours.

Required reading for anyone concerned with enjoying life.
Ross Levin's Wealth Management Index is a paradigm shattering exercise. Almost all investors (and many professionals) keep their eyes glued to the wrong benchmarks (i.e. investment returns). As a result, they significantly increase their risk of failing to achieve their goals. By assisting the reader see the"forest instead of the trees," Mr. Levin provides thoughtful guidance and a detailed process for developing a system of measuring success unique to the needs of the reader.Mr. Levin, Certified Financial Planner, has been one of the nations leading financial planners for the last 20 years. He has served on numerous national professional organizations, the last as President and Chair of the International Association for Financial Planning; the world's largest professional financial planning organization. With this experience, it's not surprising that he has written a book that should be read (and reread) by anyone serious about the quality of the balance of their life ... Read more

Product Description

"Sustainable development is the holy Grail of governments and leaders but has remained elusive and undefined. Wellbeing of Nations provides the diagnostics to turn sustainability intoreality. This is the ultimate travel guide to a sustainable future." Jose Maria Figueres Former President of Costa RicaWorld Economic Foru.

"At long last, a real metric for measuring sustainability and wellbeing. It provides a way to chart a better future. The cornerstone of any working library on environment, development, and quality of life. A volume without peer." Thomas E. Lovejoy Chief Biodiversity Advisor The World Ban.

The use of indicators to gauge human progress is common and well understood; Gross Domestic Product and the Index of Leading Economic Indicators are two well-known examples. Yet most of the widely cited indicators focus exclusively on economic activity, and even the most progressive of indicators fail to account for key issues of sustainability. The Wellbeing of Nations addresses that shortcoming by combining indicators of human well-being with those of environmental stability to generate a more comprehensive picture of the state of our world.

The author combines 39 indicators of health, population, wealth, education, communication, freedom, peace, crime, and equity in to a Human Wellbeing Index, and 39 indicators of land health, protected areas, water quality, water supply, global atmosphere, air quality, species diversity, energy use, and resource pressures into an Ecosystem Wellbeing Index. The two indexes are then combined into a Wellbeing/Stress Index that measures how much human wellbeing each country obtains for the amount of stress it places on the environment. Seventy color-coded geopolitical maps vividly portray the performance of each of the 180 nations for all indexes, and the main indicators that go into them. In addition, all data are given in 160 pages of tables, and the highly accessible methodology is described in appendices so that readers can undertake their own assessments.

Produced in collaboration with the leading international organizations involved with sustainable development, The Wellbeing of Nations is a one-of-a-kind reference for development and environmental policy professionals, as well as for students and scholars in environmental studies, international studies, and international development. ... Read more

Customer Reviews (1)

Superb Methodology
The methodology that Mr. Prescott-Allen uses is the best that I have found.By measuring environmental and social indicators separately and plotting them together on a two axis chart, the author demonstrates an interplay between the environment and society that is commonly lost in single axis indices.

This is an excellent learning tool.It is my hope that this data set will be re-calculated on an annual basis to provide the best possible measurement for the success or failure of sustainable development efforts. ... Read more

Product Description
Price and quantity indices are important, much-used measuring instruments, and it is therefore necessary to have a good understanding of their properties. This book is the first comprehensive text on index number theory since Irving Fisher's 1922 The Making of Index Numbers. The book covers intertemporal and interspatial comparisons; ratio- and difference-type measures; discrete and continuous time environments; and upper- and lower-level indices. Guided by economic insights, this book develops the instrumental or axiomatic approach. There is no role for behavioral assumptions. In addition to subject matter chapters, two entire chapters are devoted to the rich history of the subject. ... Read more

Product Description
The global value of trading in index futures is about $20 trillion per year and rising, and for many countries the value traded is similar to that traded on their stock markets. This book describes how index futures markets work and clearly summarises the substantial body of international empirical evidence relating to these markets. Using the concepts and tools of finance, the book also provides a comprehensive description of the economic forces that underlie trading in index futures. "Stock Index Futures, 3/e" contains many teaching and learning aids, including numerous examples, a glossary, essay questions, comprehensive references, and a detailed subject index. Written primarily for advanced undergraduate and postgraduate students, this text will also be useful to researchers and market participants who want to gain a better understanding of these markets. ... Read more

Product Description
Professor Sten Malmquist constructed the Malmquist quantityindex and in doing so developed a distance function defined on aconsumption space. This function is the consumer analog to theShephard input distance function of producers and is used in ratioform to define the quantity index. This volume contains newcontributions based on Malmquist's work nearly 50 years ago andprovides modern perspectives on the value of this research. ... Read more

Product Description
This book demonstrates the applications of Purchasing Power Parity (PPP) in exchange rate determination as well as more practical applications of salary comparison and the cost-of living across borders. It uses The Economist's annual Big Mac Index in place of the traditional basket of services used in PPP research. The author demonstrates that this is a good solution to the index-number problem since it is readily available and more appealing as an international monetary standard. The book also shows how The Big Mac Index could have been used to predict the Asian Currency Crisis and the Mexican Peso stand-off where more traditional economic measures failed.
... Read more

Product Description
Praise for Stock Index Futures & Options "Everything you wanted to know about global stock indexes in one place." —Tom Basso CEO, Trendstat Capital Management "With twenty years of professional experience behind her, Susan Abbott Gidel is the perfect person to present this intricate overview of today’s futures and options markets. Included is everything a beginner needs to know to understand the world of derivatives." —Robert R. Prechter Jr. President, Elliott Wave International ... Read more

Customer Reviews (2)

Sub-title a bit misleading
While the book contains much detailed information about the history, regulatory environment and composition of the world's index futures, it does not provide much practical information about the "ins & outs of trading" these contracts.

Everything need to know about stock indexes worldwide!
Whether you think a CAC is the sound your cat makes when coughing up a hairball or a stock index in France, if you're a new investor or an experienced trader this book is an excellent reference to stock indexesworldwide.Susan Abbott Gidel starts with a brief history of the index andfutures markets.Followed by an explanation of what makes the market move,definition of the market "players", and strategies for investing in stockindexes and index futures.

The worldwide market indexes are summarizedby region.Each index is individually defined in very readable layman'sterms.Gidel explains what equities make up each index, how each one iscalculated and how the index and index futures are traded.The book has aglossary and index that easily guide the reader through it's wealth ofinformation making it easy to find an index comprised of stocks that suityour investment need.

I enjoyed the book and plan on making it apermanent part of my financial library.Consider this book an investment. Think of it as an essential tool for understanding equities markets anddiversifying your portfolio.It is a reference you'll find yourself goingback to again and again. ... Read more

Product Description
Why do so many actively managed funds underperform? Why do passively managed funds provide superior returns, especially after taxes? What are the true interests of fund managers and the financial press? Most important, what strategy is in your best interest?

What Wall Street Doesn't Want You to Know answers all these questions and more, giving you the inside information you need to become a successful investor who plays the winner's game-creating wealth-instead of the loser's game Wall Street wants you to play, of trying to pick stocks and time the market. In his revolutionary new guide, investment professional Larry Swedroe explains why active managers have rarely been able to add value to your portfolio over time. He dispenses with traditional Wall Street wisdom and experts and shows you how to invest the way really smart money invests today.

What Wall Street Doesn't Want You to Know tells you exactly what Wall Street doesn't want you to know: how to avoid the pitfalls of short-term thinking and to invest so that you can create more wealth-much more wealth-over the long term.
... Read more

Customer Reviews (27)

Single best book on investing I have ever read.
I have read at least hundred books on investing and this is by far the best for the average investor. He makes a clear, concise argument that explains index investing is the best, most efficient strategy for the average investor.

I think 99% of the investing industry would agree IF their livelihoods didn't depend on fees. Warren Buffett certainly agrees and has said so as have many other of the investing greats.

Larry does a good job of explaining the costs, inefficiencies of the various alternatives.

I thought it was an excellent book.

This theory actually works
Pre-2000 meltdown, I had control of $75k in an IRA. I watched and believed I could join all those people making so much before the Internet bubble burst. After the burst, my bubble dropped all the way down to $42k. Man, am I a great investor or what? Then, I read this book. Sold all the stock that was left, allocated into a "risky" portfolio of Index Funds ( I went a little deeper with the small cap value and international funds). Less than 7 years later and after many great nights of being able to sleep, north of $155k and counting. No trading costs. I rebalanced once. Now, if I only had put the original $75k in Index Funds instead of all that wonderful Internet stuff....lesson learned the hard way. Read this book, digest it and implement its investing advice..

If you buy only one book....
Buy this book...you will make money if you follow the advise to go with index funds...skip the brokers and money managers...they are salespeople trying to hack out a living.

For Those Who Love Index Funds
Not for those who are active fund managers.The author makes quite a logical, compelling case to invest in his style.The main thrust is passive managed over active managed funds.He goes through statistics that support his position, and attacks publications who don't support.Like a lot of financial books, it gets a bit bogged in numbers at times, but overall the flow is excellent.It changed my investment approach.

Diversify and Index Your Investments
Investors should recall that a 1990 Nobel Prize was awarded to three financial economists whose ideas helped legitimize what is known as 'modern portfolio theory' (MPT). MPT points to an investment strategy that author Larry E. Swedroe says is at variance with the interests and advice of the popular financial establishment (hence Swedroe's contentious title). For followers of MPT, stock and bond market prices represent, very efficiently, all that is known and expected by investors of a security. There is no evidence that markets systematically misprice securities. So, the market prices securities to their value. Markets work. A corollary is that no individual money manager will be able to consistently know more than the market. Wall Street's managed (active) efforts to exploit perceived market pricing inefficiencies fall short. Active managers are undone by higher fees and the taxes that trading profits generate. This is Swedroe's main argument with Wall Street. Stock selection does not work consistently or economically. Active management is flawed by its underestimation of market efficiency and its operating expenses. Bottom line: Money managers don't beat the indexes. Swedroe quotes Benjamin Graham, an icon for stock-pickers, near the end of his career apparently siding with the market efficiency school. Indeed academic research supports the idea that the most important factor in market returns is not stock selection but exposure to key asset classes (e.g., large or small company stocks, "growth" or "value" stocks, international or domestic stocks). Swedroe argues for passively 'managed' index mutual funds and exchange traded funds (ETF) on the basis of their lower expenses and the market's efficiency. Investors should have a globally diversified portfolio of "low correlating" assets because of the unpredictability of certain asset classes moving in and out of favor. Investors seeking greater returns may find them with small capitalization and "value" stocks. Swedroe identifies a key tenet of MPT in Chapter 10, namely, how diversification works to increase the average compound return of individual investments within the portfolio. A little more detail might have been useful in this section. WHAT WALL STREET DOESN'T WANT YOU TO KNOW is a helpful if somewhat repetitive introduction to the basic ideas of modern portfolio theory. The author revisits this material even more persuasively in his later book, RATIONAL INVESTING IN IRRATIONAL TIMES. ... Read more