Product Description
Make smart decisions without being an expert.

Learning to invest intelligently can be easier than you think. Building a solid foundation of key investing concepts shouldn't take hours of reading. In Investing Basics, the information is organized into short, clear explanations to help you make sense of the crucial details. This book explains the most important concepts, breaks them down into manageable parts, and provides the insights and tools to use your money to its fullest potential while managing the risks. Smart tips help you avoid the pitfalls and take advantage of the opportunities.Taking a clear, concise approach to money management, the Dorling Kindersley Essential Finance Series provides a practical and impartial resource to guide you through important financial decisions. Useful questionnaires pinpoint one's financial status while easy-to-use charts and graphs help track cash flow. Cut through the complexities of financial lingo and gain the confidence needed to build real financial security. Learn to live debt free, invest in the stock market, pay for a child's education, or plan for retirement. Filled with practical advice on all aspects of money management, this series offers an excellent foundation for building a personal finance library. ... Read more

Customer Reviews (4)

Gave as a gift
Gave this book as a gift so don't know a lot about the content but seemed very nice.

Essential
I think this is a good little book ifyou want to read and learn about the essentials of investing. I would recommend it if you are a parent and want to teach your children how money works. It served its purpose.

Investing Intelligently...
Can investing be easier than we think it is? Can we build a solid foundation on key investing concepts? Well, this is the claim in Investing Basics.

The information is organized into short, clear explanation so you can make sense of the crucial details. This is a step-by-step guide on how to create a financial plan.

You will learn what to do with your money, how to prepare yourself for wealth, differentiate between various bonds, know what various stocks are, understand risk, understand the role of "time" and find out what you can earn and what the cost is to invest.

For some people, investing is one of the most rewarding activities and for others it can be unnerving. I know many people who have lost money and many who are living off their investments and can stay home and play on the computer all day.

I enjoyed the quotes in little peach boxes, here is a good one:

"Asking what the risks are may not be as useful as asking what are the chances of success and failure." -pg. 35

Understanding how to invest your money is what this book is all about. I wish you success.

~The Rebecca Review

Best of the basic investing books
This is by far the clearest and most precise book of its type available. It's a must read for every experienced and novice investor. I give it to my potential clients at our first serious meeting. I am a financial services rep with investment experience beginning in 1972. It is a 30 minute read and covers all the basics. You would be surprised at the number of people with substancial portfolios; whom do not know the difference between a BOND and a STOCK. I'm serious! ... Read more

Product Description
Updated data and insights to help value investors address the realities of today's markets

On the heels of recent stock market tumbles and deceptions, value investing--the staple of investing greats from Benjamin Graham to Warren Buffett--has roared back into the spotlight. Value Investing Today returns with a new edition, filled with updated information and advice to give investors the skills and knowledge to become successful value investors.

Broader in scope than previous editions, this third edition offers fresh lessons investors can use to uncover stocks that are, for whatever reason, underpriced in relation to their value. Updates to this edition include:

• New chapters on the psychology of investing and corporate governance
• Expanded discussions on the importance of margin of safety
• Increased correlations among world markets, and how to capitalize on them

Customer Reviews (9)

Tests for Safety, Four step test for value, determining Share Price Value
Tests for Safety

1. Debt-to-Equity is less than 1
2. Current Assets are twice liabilities
3. Total Debt is less than twice net current assets
4. Annual earnings growth is at least 7 percent over the last ten years
5. No more than two year-to-year earnings declines of more than 5 percent during the last ten years.

Four step test for value

1. No losseswithin the past 5 years
2. Total debt is less than 100 percent of tangible equity
3. Share price is less than book value per share
4. Earnings yield is at least twice the yield on long term 20 year bonds

Share Price value
1. If a stock's price was less than two-thirds of net-net current assets per share.Investors buy excess cash for 67 cents on the dollar and get a full claim on the company's permanent assets for free.The company must be generating profits.

To calculate intrinsic value investors rigorously examine qualities such as financial strength and earnings strength in context of the companies past results., its current operation, and its future prospects

What does price to earnings mean?If a share costs $20 and reports a $3 Earning per Share than P/E equals 6.7.The buyer is paying $6.70 for every $1 of earnings.

What is Net Current Assets? Net current assets is the amount of capital a company creates or consumes in a period of time. Net Current Assets = current assets - current liabilities.

What are Current Assets? Current assets is the amount of cash and cash equivalents (or inventory, etc that can be converted to cash quickly to pay the bills) and current liabilities are the bills that are due.

What is Book Value per Share? Book value per share =par value of an outstanding preferred stock - liabilities / outstanding shares of stock.

How do you calculate the Fair Market Value of the Stock? Benjamin Grahams NCAVPS =current assets - total liabilities / shares outstanding

Wish there's more info in the book! Great introduction to value investing though!!
Fairly impressed with the author's ability to make sense of value investing in such lucid manner - always interesting to read someone managing over 50 billions.

Think one could summarise the book in about 10 pages but the criteria for stock screen were significant -- don't remember reading them in security analysis but in this book the author emphasised on ignoring the net net (current asset - all liabilities) if the firm is making a loss as cash will be used up very quickly.- How did the author know?? Graham told him in person !!!

i always thought it's already hard enough to find companies trading with current asset - all liabilities 33% more than the price per share! more after the fall of Lehman-and the firm has to be making a profit too !!!how many stocks could there be??

other excellent points include how risk measured with Beta / standard deviation / risk as volatility are not exactly what investors in practice are concerned with ! works for traders but completely pointless for long term value investors-

Other interesting discussions include how everyone should invest globally (searching for value stocks) and how to compare different companies given the differences in accounting for financial reports in specific countries - also why index funds aren't necessarily the best way to invest if there are concerns over the construction process of the index and why it's the opposite to value investing if investors are buying the index fund on the rise.

should one buy the book??probably no cos one could finish reading it in few hours but it's still worth reading !

Wish the author explain in greater details esp. about global investing!

I really like Chapter 4.
This book doesn't say much of anything new that you can't get from multitude of other sources.However, it summarizes value and safety criteria pretty well in chapter 4.This is why I would recommend this book.

Nothing new here
I didn't like it at all. I didn't find any new concepts in the book, I think it's closer to Rich dad poor dad than to an actual investment book. Very general advice.
If you are interestedin investment, pick up any of Peter Lynch books, Malkie's "a random walk down street" or, if you are into value investing "The Warren Buffet Way".
Don't waste your time with this one.

Very shallow

Books on value investing, as I observed, have two apporaches: Quantitative & Qualitative.

Quali: The Intelligent Investor & The little book on value investing.
Quant: Value investing from graham to buffett, John Neff on Investing.

This book is qualitative and very shallow. Good for people who have no idea of value investing.

The book, I speculate, is more like a brochure/prospectus of their mutual fund.

Although there is no "magin formula", I had read many value investing books that illustrate somewhat concrete and detailed approach to analyzing fin statements and ratios. This is book way way too shallow. ... Read more

Product Description

Can you afford not to buy gold?

As many investors know, gold is a “safe-haven” asset that can actually increase in value during stock market slides and times of recession. But what else do you really know about this commodity? Are you taking full advantage of it? Do you know how to work it into your overall investment strategy?

This detailed tutorial provides you with a comprehensive understanding of gold, from mine to market. Jonathan Spall, a 25-year veteran of the metals market, explains everything you'll need to know for making gold a profitable part of your investment strategy. Investing in Gold gives you an inside look at how the precious metal is mined, refined, traded, and priced, along with valuable insight into gold's unique position in the marketplace. Spall explores such topics as:

• Simple and complex gold trading processes
• The pivotal role central banks play in the gold market
• Gold exchange traded funds (ETFs)
• How spot gold is traded
• Why gold mining companies have traditionally hedged and why they no longer do so
• Strategies for investing in the retail market

Spall provides an extensive glossary of terms you'll need to know, and he debunks various myths regarding this market, including the Fed's supposed scheme to keep gold prices artificially low during the 1990s.

The effects of global economic growth, the weakened dollar, the credit crunch, and the recent creation of enormous funds each affect the gold market; put them together and they add up to potential profits gold investors have never before dreamed of.

Gold is a surprisingly small market. When you learn how to navigate it, the potential for excellent rewards becomes evident.

Customer Reviews (5)

Gold from the inside looking out
This is one of the most authoritative books on the inner workings the gold market that you are likely to encounter.In it, you'll learn a great deal about how the world's central banks, the International Monetary Fund (IMF), "bullion banks," the gold "market makers," and the world's gold producers (mining companies) operate in the broader gold market.In doing so, and if you aren't a sophisticated gold trader, you may find, as I did, that you know far less about these organizations and their operations and concerns than you thought you did.I had no idea, for example, that until recently the gold producers, through their attempts to hedge their profits and acquire operating capital, were the major drivers in the price of gold.Neither did I know that the world's central banks have a real problem in keeping gold in reserve, since gold bars produce no income; or that their efforts to overcome this problem have often been construed as manipulating the price of gold.

You will learn all this and much more by reading this book, but be warned: If you have a casual interest in the subject you will likely learn much more than you expect, and much of what you learn may be of interest but of little apparent value to you.I say that because, if you are like me, you never really expect to own a gold mine, refine gold, or work with national governments to buy/sell gold by the tonne (1000 kilograms).

Nevertheless, In my view: anyone seriously considering investing in, or simply buying some physical gold, would be wise to read this book, if for no other reason than to get a greater insight into how gold functions in the real world, its problems and the problems it presents, and how it is viewed by the world's governments and the world's leading banks --- all apart from any national or international crises.

My only criticism of the book is that the author, by necessity, was forced to deal with some very abstract activities.He made the best attempt he could to explain them, but in many instances he did so simply by relating them to other similar activities which were just as obscure.This may be due to the fact that the book was derived from information which the author prepared during his 25 years in the gold business to help educate and orient people new to the field --- but people already possessing some related knowledge of the subject.

Bottom line: This is a very informative book which lets its readers peek behind the curtain and see gold as the insiders see, buy, sell, loan, and trade it.And, to top it off, in the book's final chapters the author explains various ways in which his readers, now armed with this new knowledge, might invest in gold if they choose to do so --- but he makes only one serious recommendation.Stay away from silver.

A broad crash course on gold investing
Gold draws a great deal of comment fueled by fiery passion, and often instigates discourses based on rumor, conspiracy theories and gossip. Allow Jonathan Spall, an expert on precious metals, to disprove the lingering myths about gold with his interesting, helpful little book. While Spall's treatise doesn't quite carry you on a complete tour of gold's role throughout human history, it does usher you down into the mines and through the gold refiner's fire. His ability to explain the basics of the gold trade so clearly may be based on his writing skill, but it also reflects his years of experience explaining these ideas to nonspecialists. The only math he uses involves the simple equations used to calculate gold prices. While you may already be familiar with some of Spall's information, getAbstract recommends his broad introduction to gold to those who are interested in all facets of the prized metal, from its extraction to its sale.

Not what the title implies
I purchased "Investing in Gold" for the purpose of gaining a better understanding of the precious metal's (or gold) market and how best to invest in it as a hedge against inflation.The author is no doubt an expert in Gold.However, he spends the vast amount of his attention to describing mining operations and the amount of gold acquired by various countries, etc.When you get to the last chapter, if you last that long, there is a short discussion of how people invest in gold, but no clear recommendations.I see ad after ad on TV and radio recommending that I buy Gold.I still do not know how to do that without getting ripped off.The book was a waste of time and money as far as I am concerned.

A useful, informative, and concise guide to gold as an investment
A lot of books on gold are written by cranks, but this book is a delightful exception.Jonathan Spall is a professional who has been involved in trading commodities, including gold, for more than twenty-five years.He knows what the markets are really like, and what the industries around gold really do.This delightfully concise book will provide you with a solid understanding of the basics of what gold as an investment is really all about in the West and around the world.

While he does not cover the history of gold in various world civilizations, he does take you through the basics of how gold is mined and refined around the world.I found the information fascinating.He also explains why gold miners pre-sell or hedge the value of their production.

Spall then takes us through government uses of gold and which nations hold their reserves in gold and which in foreign currencies.You then get a quick tour through the markets of borrowing and lending gold and banks which hold gold reserves for various purposes.

So what does this mean to you?Well, you can invest in gold and the author shows you the various gold exchanges around the globe, how they trade and what they trade.You can also invest in Exchange Traded Funds (ETFs) that allow you to purchase allocated gold but trade it like stock.Of course, you can buy gold that you can own.This is mostly done in jewelry.Outside the West most of the gold jewelry is of much higher fineness than our jewelry and is mean to store wealth more than it holds sentimental value.Spall explains why this is so, but it mostly has to do with the lack of trusted financial institutions as places to store wealth.

He then takes you through a few of the common gold myths and the realities behind them, why gold prices are trading higher now (there is no single reason) and how you can expose your portfolio to gold for various investment goals.

Pretty neat book.

Reviewed by Craig Matteson, Ann Arbor, MI

Wide ranging and jaunty introduction
Disclosure: I know Jon Spall, having worked with him for a couple of years and being an enthusiastic subscriber to (and correspondent with) the daily "Barcap Commodity Comment" mailing list which he edits.

Indeed, it's on the strength of that excellent electronic publication (highly recommended if you can get on the mailing list) that I got to know him: It's fascinating and informative but most of all hysterically funny and decidedly un-corporatised overview of the markets (all the more credit to Barclays Capital for sanctioning it) from an excellent fellow with long experience of the markets who happens to be sitting in the front line as it happens. As you can probably imagine has been essential, if excruciating, reading over the last eighteen months as the markets have ritually disemboweled themselves.

No better a time, therefore, to be bringing out a publication extolling the virtues of the traditional last bastion of safety in an uncertain world, gold. Since the abandonment of the gold standard oft dismissed as a fossilised anachronism, in these days of seemingly uniform cratering across asset classes gold, like Keynes, is staging a bit of a revival. Even hedge funds - those that are left, that is - are piling in. And gold is what Jon Spall knows best. He's been in the market for a quarter of a century, and this book distills that learning, and the sort of context that you don't usually get in a business book - there's much learning here on mining techniques, hedging, transport and the history of the market - and with the sort of jaunty tone that Commodity Comment faithful will enjoy - sample excerpt: "the task of explaining the many properties ascribed to gold to an alien would not be easy" - though consciously toned down for sober, old economy, publication. If I had a criticism it would be just that - it doesn't quite give you the full flavour of Jon Spall in all his fairy-at-the-bottom-of-the-garden-shooting glory, but that's very definitely a minor niggle. As the book develops the level of technical detail increases - there's an interesting chapter analysing the current performance of gold in the market turmoil - but the detail is never overwhelming (it hardly could be as the book weighs in at under 200 pages)

Bang up to date with the zeitgeist in including an FAQ as well as a glossary, this is as good a place as any to start if gold is what you're about.

Olly Buxton ... Read more

Product Description
A must read for the new investor.Everything you need to start investing for your retirement. Easy-to-understand definitions, budgeting tips, how to invest, how to track your investments, and more. ... Read more

Customer Reviews (5)

Great book for the beginning investor
I was looking for a book that gave me the when, where and how to invest.This book gave me the info I needed.It is geared toward someone like me.If you're a beginner in this 'swim with the sharks' world of investing...this is the book for you.

Overcoming Important Misconceptions of Young Investors
This book is aimed at the young person who will be starting a first full-time job in the next year.I have graded it for its appropriateness for that audience.

Stock investing is treated now in families like sex education was conducted in the fifties.People try to avoid any reference to this delicate subject.

As a parent, you can spend over $100,000 to send your child to a private college or $50,000 for a public one.In neither place will your child pick up the basic information to make her or him financially literate about doing long-term stock investing.

Or your child may not go to or finish college, and potentially have less income as a result.Investing becomes even more important in this situation.

What's worse, regardless of what educational or vocational route these capable young people take, they will have picked up misconceptions that will discourage him or her from getting started.This book can remedy that problem, by helping your daughter or son (or grandson or granddaughter) realize that they should begin investing as soon as they have enough income to save some ($50 or so) money every month.

If you are a young person just starting your career, chances are that you are handicapped by lack of information, and misconceptions about what you should be doing.Ordering this book today is a simple, effective step towards overcoming that situation.

This book effectively addresses these misconceptions:

(1)It doesn't matter much when you start (Actually, starting young is the biggest advantage any investor has)

(2)You need thousands of dollars to get started (Some investments can be started with $25, and putting in small amounts regularly makes you more money than larger amounts less often)

(3)It's too complicated for a young person to understand (Most of what you need to know is covered in less than 50 pages in this book, with not that many words on a page.If you can pass algebra and high school English, you will have no trouble with this material.)

(4)It takes too much time to get started (You should be able to take the right steps after spending less than 15 hours over a period of two months or so.)

But taking action counts for a lot in investments (as in other areas).So I suggest that you be sure the young adults in your family know this information.You can get a copy and teach them yourself, or you can simply give each person their own.Ask them what they have done about the information from time to time, and praise any actions they take to get information, start saving, or begin investing.

If you are a young person, every month you delay starting investing is costing you hundreds of dollars over your lifetime.Can you afford to waste that much money?

I think this book will make the most sense if read after Rich Dad, Poor Dad.After reading this book, I suggest that John Bogle's Common Sense About Mutual Funds be read to deepen and widen the interest that Basic Investing Guide for the New Investor will stimulate.If you already feel motivated to invest and do not have the misconceptions I mentioned above, you may already be ready for Bogle.

May your money and your children's money be saved and invested in ways to create much financial security for your children and grandchildren!

As a parent, consider that giving this book is a lot cheaper than providing any other form of education, or providing on-going financial security for the next two generations.It's a great investment for you, as well.

As a young person, consider that investing your money well is a lot less work than taking on a second job for most of your life to increase your income.This is important to creating time and balance in your life to enjoy your family and relationships.

Get started as soon as possible!

Did Exactly What I Expected It To Do
I am 22 years old and was interested in investing for my retirement. I had no idea where or how to get started. I needed the absolute basics. The book was simple and to the point. No confusing terms or information that was way over my head. The book contains motivational quotes, which I liked because I have been putting this off for a couple of years so they helped me get going. I would recommend the book to anyone 25 or younger that is not familiar investing, but would like to get started.

written for the 12-year old.
I was pretty excited to finally get this book.But most of my expectations were far too high.This book (pamphlet would be a better title) contains only 42 pages of actual text, about 30 pages of quotes... one quote per page and very little information.If you are looking for an extremely oversimplified book on investing, this is the one.It would be a good gift for your 12-year old, but the 12-year old will be hungry for more information after taking the 30 minutes to read the book.

Very Easy To Understand
I wanted to start investing, but was so confused. This book makes it so easy. It answered all of my questions and includes online help. I read thebook, went to the website, and printed the IRA application directly fromthe mutual fund company. I thought you needed $1000's of dollars to getstarted. I got started with only $65 per month. ... Read more

Product Description
In line with the curriculum followed by senior officers, this book teaches leaders how to think and lead strategically in uncertain environments. With contributions from military leaders and experts in the fields of transformational leadership, systems, critical and historical thinking, and corporate culture, this work teaches mid-level managers how to become high-level executives.

Strategic Leadership: The General's Art offers:
-Strategic thinking and leadership processes taught by the military to its senior leadership
-Strategic leadership theories and practical exercises to help put those theories into action
-The valuable knowledge that Fortune 500 companies, government agencies, and non-profit organizations gain through U.S. Army War College workshops ... Read more

Product Description
The world has changed and so too has investing. The market is shell shocked and yesterday's momentum stocks are today's slow-motion stocks. But in the new reality of low-growth investing, commodities are hot and getting hotter. A rapidly industrializing and urbanizing Asia will be demanding lots more copper, zinc, iron ore, coal, fertilizers, gold and oil to transform their societies. Commodities are it and that's great news for investors who want to profit from the next great bull market in commodities. In fact, commodities may be about the only asset class that is likely to outperform the broad market in the future.

Although they are without a doubt important to the global economy, commodities are among the most misunderstood of all asset classes. Stocks, bonds and real estate all have legions of followers and plenty of experts agree on their importance within an investment portfolio, but venture into the world of commodities and you are into an area that's intimidating to the average investor, where suspicions run deep and understanding is limited. As a result, commodities get short-shrift in most investment accounts and investors miss out on some important opportunities.

The Little Book of Commodity Investing is an indispensible guide to learning the ins and outs of commodity investing. It's about identifying opportunities to profit from the coming bull market in commodities. It explains the benefits of commodities as part of a well diversified investment portfolio; covers all of the major commodities markets; what makes commodities and the companies that produce them tick; why commodities sometimes zig and then zag; what to buy and when to buy it; and why commodities are the next big thing.

Today's world is a very different world-a world where an understanding of commodities is a prerequisite for investment success. And The Little Book of Commodity Investing is the roadmap you need to discover where the opportunities of the future lie, and what to do about it. ... Read more

Customer Reviews (5)

The Little Book of Commodity Investing
I loved this book and once I started reading it, I couldn't put it down. This book packs more investment punch than any ten books I have ever read on the subject.I love the writer's style and came away with a better understanding of commodities, why they matter to all investors and how to profit from them.A great read that I would recommend to anyone.

John Makes the Case Again
Just as John's first book, Shell Shocked, laid out a compelling case for "buying all the Canada you can get," this book lays out the case for commodities. "Commodities" and "commodity trading" are intimidating terms to many investors, as are "futures" and "futures contracts." That's largely because American consumers are raised on the DOW and a few of the ancillary indices. A perfect example of that myopia is how people are presently yelling about the "lost decade" that investors have had from 2000-2010, conveniently leaving out the benefits of dividend reinvestment and the possiblity that individual investors and equity fund managers could have overweighted on Apple Inc. stock during the decade. Regardless, many individual investors buy the hype, panic, and make emotional decisions like putting lots of money into a savings account earning .05%.

It is in this sort of a climate that John helpfully points out that commodities are:

* not intimidating
* easy to understand
* a smart investment for our times

Why are commodities not intimidating? Because they're all around us. They're the things we use every day, like the gasoline that goes into our cars or the wheat and flour that we find in our bread. Sure, the price of gold gets all the headlines--it's sort of like the DOW of commodities--but there are so many more places that investors can put their money to work in commodities.

Commodities are easy to understand because they're being used or consumed all the time. Check out the shipments coming into a restaurant or a supermarket on any given day and you'll see commodities coming in that have been purchased and are about to be put to use by the restaurant or supermarket.

Why are commodities a smart investment for our times? Because people need them now and will need them more as economies grow. As John mentioned during his CNBC appearance over the summer, only 30% of China's population participates in the nation's economy. It's going to take more roads, bridges, buildings, fuel, food and other commodity-based material to bring that remaining 70% into the fold. That increasing demand, of course, means rising prices for relavant commodities.

John's book touches on myriad ways that commodities can, should, and will be used in the future. The Little Book of Commodity Investing is an easy read that teaches the reader why natural gas prices are more volatile than oil prices, that Brazil is actually the orange juice capitol of the world and many other fun facts. For that reason alone, it's a wonderful read. But John also gives the reader a plenty of ammunition regarding WHY he or she should invest in a given commodity. I'm not saying this book alone will make Joe Investor cash out his brokerage account and buy a nickel mine in Sudbury, Ontario, and that's a good thing. But it will make Joe Investor a lot more comfortable thinking about commodity investing and want to learn more.

For a better financial future
This was one great read, and an easy one at that.You would think that a book about commodities would be about as dull as dishwater, but in The Little Book of Commodity Investing, author John Stephenson brings this world to life and explains why commodities figure in every portfolio.Best yet, I feel like a more informed investor.I would recommend this book without reservation to anyone who wants a better financial future.

A Great Read!
A great read, packing more bang for your buck than any investment book I have ever read.John Stephenson provides compelling evidence why commodities are the go-to investment class of the next decade.This is a book that simply must be owned by every serious investor.

Patrick Lewis
Five Stars

The time has arrived
I believe in market cycles. Every investment instrument has its own boom and bust cycles. Even if you strongly believe in sound currency and values of hard assets, investing in gold and its various forms in the 80's and 90's(full 20 years period) will lead you to disgust and total distrust of the PM market. There were periods for bond and general stock market investing but I firmly believe as this book has clearly illustrated, the time for commodities investing has now ARRIVED and especially for the Precious Metals market which is about to go gangbusters.

There are many factors which are going to drive up commodities prices to new sustainable highs in the coming years, one of the major driving factors is definitely inflation, I mean BIG-TIME inflation. Governments around the world are busy playing currency games, monetizing debt, giving values to totally "junk assets", buying and issuing bonds like playing reckless bets on a monopoly game, where trillions with 9 zeros "investing" don't mean a thing no more, only difference is the game is real, the money is supposedly REAL coming from taxpayers pockets and people's lives are at stake. To keep this game running, governments are working overtime printing their money away like there is no tomorrow. When there is an (almost) infinite amount of supply(dollars), chasing a very finite amount of resources, we know what happens next. Economics will bring the much sought after commodities(be it hard assets like precious metals or soft assets like food etc) prices to equilibrium with the dollar amount. We definitely want to be in position and get along with the WILD WILD commodities boom ride when it starts.

This book provides a good basis on commodities investing including various ways of how to take part in the world of commodities market. The author has successfully gave well-justified reasons as to why both soft and hard assets are the place to be, not just to make profits in this very volatile market but to safe guard our hard-earned money from inflating away to nothingless, which sadly looks like what our government policies are pointing to... By investing in commodities and away from the bizzare financial instruments, we collectively also gave our votes of confidence on real tangible assets with intrinsic values and a slap on the face on those fathom financial derivatives that are valued at trillions of dollars based on entirely "vacuum". Governments tend to listen when we the people vote with our dollars... ... Read more

Product Description
Learn how top investment pros make their millions. Included are methods for evaluating which investments are best suited to achieving one's long term goals, tactics for managing risk, descriptions and explanations of sophisticated investment techniques, and model portfolios--plus tips from some of Wall Street's hottest investors. ... Read more

Customer Reviews (6)

Investing Like a pro
This is not a book for beginners.Like a lot of these books, it's for people who have a basis of some kind n finance.

What would help is a book that doesn't try to be cute...this is a book about money.Money isn't cute."Just the facts, Ma'am."

It's too complicated.

I would love a book that understands people who do NOT understand the market, and starts at point A and goes to point Z, AND BE CONSISTENT in every chapter.

EXAMPLE:

this is a stock...
this is bond...
this is a Mutual fund...
this is a whatever...

And so forth.

Here's how to use them to your advantage...etc.

I will keep searching for a book that actually helps.

A great place to begin.
This book is a great place for the beginning investor.In fact, it oughta be required reading for anyone about to get married.It gives the basics on everything from retirements accounts (of all types) to buying a home, to creating your own financial plan, even advice on divorce.Just about any basic information on finances that a person would need can be found here.Someone looking for something a little deeper might do well to skim the book to glean usable info and then to find something a little more specific.

As a side note, if you've read this title, skip reading "The Complete Idiot's Guide to Savvy Investing," as these two books are essentially the same.

Simple Explanations of Effective Investments
Koch and DeSalvo have complied a comprehensive investment guide for the average person. Even those with financial experience who need information in a concise and user-friendly manner will benefit from owning this book. I am not ashamed to own "Idiot's" guides, simply because I have my own area of specialty, and do not have the time or will to specialize in every area in which I have a passing need or interest. This is where this book comes in, because most people don't have time to get a degree in finance or an investment license just to make their money grow.

This book covers the basics like investment risk tolerance, investment needs, and then covers ways to make more money available to invest. The authors point out that saving money is a form of tax-free investment. Then the authors discuss stocks, mutual funds, home ownership, saving for college, and reducing taxes. Finally they explore more risky investments like options and futures, as well as providing tips for online investing. The book has a few glossy pages, numerous charts and tables, and a glossary.

Overall, I recommend this book wholeheartedly. I knew nothing about investing until recently, and after I got my Series 7 license, I realized that this book had provided me with a strong background with which to begin studying. Honestly, after working with many financial planners, I think this book is probably more useful than many financial planners out there. While it won't make you an expert, it will provide the basic essential information the average beginning investor needs. Read this, and then move on to more advanced books, but all the while, start investing and making money.

D youself a favor, buy this book
I work in finace but really had no inderstanding of investments until i read this book. I found it very easy to follow and able to comprehend. Someone with a little finacial background probably would have been able to grasp it even better. Before you buy a single stock, bond, or mutual fund i highly recomend this book. I must say on the negative side that to truly understand finace you will need further reading, but this is a mandatory first book, and if all that is desired is a basic understanding of finace you could use this as your guide. I reccomend further reading though, for anyone working in finace or who plans on doing alot of investing.

More than you'd think
This book had somuch more than I thought it would. I expected it to just explained investings like the stock market. But it explained everything from stocks, bonds, commodities futures and options, CD's, mutual funds,IRA's, mortgages, all types of insurance, creditcards, taxes and so muchmore. It gave sound strategies for all of these. It also explained simplethings that you think you know but don't realy do. Like just saving moneyis a form of tax free investment. And so many other down to earth and soundadvise that realy works. I'll always keep this book near by for reference.I strongly recomend this book to anyone who is trying to streach and investhis money. ... Read more

Product Description
At last, a book perfectly designed to deal with the common anxieties most people have about handling their financial investments-without taking up all of their time. In today's volatile market, jittery nerves are the normwhen it comes to saving and investing for the future. But with these keep-it-simple, easy-to-understand, and time-tested strategies that-best of all-take very little time or energy to maintain, readers can relax. Dr. Farrell has reviewed all of the successful investment strategies and distilled them so that even the most inexperienced investor can plan a successful financial strategy. ... Read more

Customer Reviews (32)

good advice for truly long term investors, not for everyone
"Buy-and-hold", as recommended in this book and elsewhere, is actually a variant of market timing. It simply has a very long holding period and a random sell method. If you are suited psychologically to holding stocks not for ten years but for a lifetime or longer, this approach works beautifully. I think many, if not most, people, though, cannot stomach an 70% decline in their savings, and/or decades of flat or down markets. Periodic portfolio rebalancing mitigates risk somewhat, but many will throw in the towel, often at the worst time.

The author, whose point of view I respect, would certainly disagree, but I think it's even "lazier" to time the excellent portfolios in the book with any of a number simple methods: 12 month momentum, 4% weekly move, 50 day moving average cross of 200 day moving average, or more involved methods you can find with a bit of research. There are good books here at Amazon on the topic.

You can check past performance at Yahoo finance or [...]. Typically, you'll approximate market returns with substantially lower drawdowns along the way.

Riding out long or severe bear markets with buy-and-hold is hard work, even if you're not required to phone or click your broker.

Best lessons learned through repetition
Very useful reminder about active managed funds rarely outperforming Index funds.
Offers advice to those who just cannot sit and watch the paint dry but stresses the best way to invest is at arms length and passively. Trading is for mugs.

Not really what I expected..
Paul summarizes a lot of other books, by name. I would think those authors wouldn't be too happy having their books distilled into two paragraphs. I dunno, I just felt this book was pretty bland, once he says that you should invest your money in Vanguard Indexes (Look at me, I am turning into the author :D), he basically regurgitates that, and the advice of others for the rest of the book. He doesn't even tell you *how* to invest, just assumes you know how to invest in Indexes and tells you which he would pick. There's maybe a funny anecdote or two, but seriously, this book says one thing, then spends 200 pages beating you about the face with it, which sounds more interesting than it is; in reality it will put you to sleep.

This is not a book for a person that wants to *start* investing, he doesn't really tell you anything about starting, other than: 'start early!' I really wanted to like this book, but there was nothing useful for me; 200 pages that could be summarized in a paragraph.

Good for people with no time to research their own investments
The main idea behind this book is simple: you cannot beat the market, so don't try it; just buy and hold the index. This strategy is excellent for most investors that do not have the time, skill, or desire to pick their own investments. The benefits of this strategy are:

* No Commissions
* Lower Taxes
* Low-low expenses
* Virtually no work
* Simple

For those who want to achieve above average returns, this book is not for you, but for everyone else I recommend it.

- Mariusz Skonieczny, author of Why Are We So Clueless about the Stock Market? Learn how to invest your money, how to pick stocks, and how to make money in the stock market

useless garbage
If it was only so easy..Don't waste your time with this proven huckster.If you want more in depth advice check out his earlier book: 'Think Astrology & Grow Rich: With the New "Money Astrology"'.Yes he really wrote that ... Read more

Product Description

Since Benjamin Graham fathered valueinvesting in the 1930s, the method of analysishas spawned a large number of highly successfulinvestors, such as Graham’s own formerstudent and employee, Warren Buffett, who isregarded as one of the most successful investorsof modern times.

Over the years, numerous books have beenpublished on Benjamin Graham’s approach.Most of these books present different interpretationsof value investing and are generallyintroductory based. Until now, there has notbeen an advanced hands-on guide for investorsand executives who may want to applythe powerful value investing discipline outsideof stocks and bonds.

Applied Value Investing takes the same time-provenapproach Graham introduced withDavid Dodd in their 1934 masterpiece,Security Analysis, and extends it in a variety ofunique and practical ways—including mergersand acquisitions, alternative investments,and financial strategy.

This in-depth guide shows financially sophisticatedreaders how to use value investing in amacroinvesting framework and how to applyit to the emerging area of super catastrophevaluation. It illustrates how to put value investingto use with case studies on:

• Eddie Lampert’s acquisition of Sears
• Warren Buffett’s acquisitions of GEICOand General Reinsurance Corporation
• The recent “new economy” boom andbust, and its aftermath
• The underwriting of the Pepsi Playfor a Billion sweepstakes

Applied Value Investing also demonstrates howto incorporate the cornerstones of valuationinto an integrated business framework thatcan be used to assess and manage a franchise(or a firm operating with a sustainable competitiveadvantage).

In addition to its cutting-edge applicationsof value investing principles, Applied ValueInvesting sets itself apart by drawing on materialpublished in leading academic journals toform the foundation of its presentation. However,value investing is inherently practical, andthis comprehensive resource provides helpfulguidance for successfully implementing valueinvesting strategies in the real world.

To profit like the masters you have to thinklike them. Applied Value Investing can opennew doors to value creating opportunities.

Customer Reviews (19)

Spectacular Investing Book
Gabelli was right, after 75 years Graham and Dodd remains the true north star of investing, and this book will show you why.

Value Investing without the Hyperbole--at last!
Joe Calandro solidly lays out the case for investing building historically on Graham and Dodd but recognizing that today's market practitioners face an increasingly sophisticated capital market structure.As a student of and expert in risk assessment, Calandro makes the case that patient, value-based investing in the updated modern Graham-Dodd model would serve corporations well in pondering their M&A activity.He lays out how even the world's most admired holding company, Berkshire-Hathaway, had success with GEICO but made mistakes in their valuation profile for arguably their most important acquisition, General Reinsurance.

Opportunities to value the key factors that seemingly drive corporations' M&A--franchise, growth, and margin of safety--are both values and risks, and should be viewed as such.But the upside potential must be carefully scrutinized and, as Calandro so poignantly discusses throughout his book, brought down the understandable, calculable factors that can be widely socialized and agreed.To do otherwise simply nourishes the hyperbole of the proposed merger and perpetuates that they hunch-based `synergy' model of merger will work.Really.This time the synergies will come true.For sure.We are thankful for Applied Value Investing and its ability to ignore hyperbole at the individual company level and particularly in the current market crises, whether it is in currency markets, real-estate markets, bond markets, or equity markets.

So stop wondering if value investing is passe and the world has moved onto a more 'mature' model.A century ago, no wiser words were said:`those who cannot remember the past, are condemned to repeat it'...sage advice in this era of uncertainty and market disruption. This book is a MUST READ for serious investors and those who assess risk.

Great Value Investing Text
I found the book very useful since it not only states the value investing theory, but also provides step-by-step examples going through balance-sheets in a well explained manner. Joseph Calandro, Jr. has done a fantastic job of providing easy-to-understand valuation methods through the value spectrum of NAV > Earnings Power Value > Franchise Value. The only aspect of the valuations that may be a challenge will be going the extra mile to confirm calculated estimates with a professional.

His Macro section is also well-thought and applicable in our world of ever-growing complexity.

The book was straight-forward and easy to understand. Highly recommended.

A Good Holistic Book to Expand the Perspective on Value Investing...But...
This book provides a more holistic view on Value Investing, encompassing the perspective of Business Model and Strategy, to help the readers uderstand and clarify the source of sustainable competitive advantage, which is the root of so-called "Franchise" by Graham, Dodd and Buffett, i.e., a firm that generates economic profit (or income in excess of the opportunity cost of capital).The Value Drivers Diagram used in the book to illustrate the valuations for the four reference cases is a very good tool to put the linkage between the firm's value and its competitive advantages into context.

I also would resonate a keen obervation of the author about Warren Buffett.

"Buffett rarely receives accolades for his strategic abilities, but I would argue that strategy is actually his core competency; valuation, investment, and M&A are simply the logical outputs of his strategic insights."(Page 194 of the book).

However, I need to point out a not so insignificant mistake in the book, namely, the treatment of Growth Value on Page 56 & 80.Essentially, the author was using the Growth Value determination formula referenced in Bruce Greenwald's "Value Investing" (2001) book, however, the Growth Value formula was not correctly used in the book.

In the original Greenwald's formula for Growth Value (Page 142 of Greenwald's book), The Net Present Value (NPV)of a Franchise with a constant Earning Growth Rate of G and a Return of Capital Rate, ROC, is:

NPV = ((ROC-G)/(R-G))* Net Asset Value,

Note that R is the Prevailing Cost of Capital and a Franchise's ROC has to be higher than R, the Prevailing Cost of Capital, so as to generate economic profits.
When G is zero, this formula provides the Earning Power Value of a franchise.

But in the Applied Value Investing book, the Growth Value is determined by the following formula (Page 56 & 80) which is incorrect and also independent of the earning growth rate (G):

NPV = (ROC/R) * Earning Power Value
= (ROC/R) * (Earning/R)
= (ROC/R) * ((Net Asset Value * ROC)/R)
= (ROC/R) * (ROC/R) * Net Asset Value

In the original formula of Greenwald, Earning Growth Rate is explicit in the determination of the Growth Value at a certain constant Growth Rate, but in this book, somehow the Greenwald's formula was mistakenly adopted which became totally independent of the Earning Growth Rate.

Nevertheless, this is still a great book to expand the horizon of Value Investing.I would rate this book with a 5-star if it didn't have the mistake on Growth Value calculation.So it ended up being a 4-star recommendation.

C.T. Wu, Ph.D.
Cupertino, CA

Great book but stay away from Kindle
Was going to buy the Kindle version then noticed it was only 1 chapter so I bought the book. Happy I did it lives up to its endorsements. ... Read more

Product Description
Let the Industry's most renowned CGL experts take you to the heart of general liability exposures and problems. This guide is the only resource to provide an in-depth, year-to-year comparison of over 20 years of the CGL form. You'll also find court case citations that clarify the policy, summaries of all major endorsements to the forms and tips on how to tailor a policy to meet the needs of your clients. Commercial General Liability, 8th Edition has been updated to include the most recent exclusions and exceptions of the CGL form. ... Read more

Product Description
Many excellent books teach God's principles of finance. Perhaps one ormore of them has helped you lay a strong biblical foundation forcarrying out your money management responsibilities. But as you try toapply those principles to making real-life investing decisions, it'seasy to feel overwhelmed by the jargon and the sheer number ofinvestment possibilities.

Investment advisor Austin Pryor has carefully created the "next step"guide that helps you put Godly principles of finance into motion.Whether you're a beginner or an experienced investor, you'll benefitfrom stepping across this bridge between "theory" and "action". Eachuser-friendly lesson is written in everday English and filled withhelpful visual aids. In this revised and updated edition of The SoundMind Investing Handbook, you'll learn

- What investing is and why it's actually quite simple
- Six characteristics of investing that glorifies God
- What important steps to take to prepare yourself financially beforeinvest
- What mutual funds are and why they make investing easier than ever before
- How to use your personal investing "temperament" and present "seasonof life" to make decisions and limit your risk
- How to implement an investment strategy that's guaranteed to help youkeep pace with the markets
- Tax-wise ways to invest for college, including the state-sponsored 529savings plans
- The pros and cons of investing internationally
- The rules governing IRAs and 401(k)s and which should have the priority
- How to make the calculations needed to make sure your retirementcountdown is on schedule
- College professors have even used this book in their finance classesbecause of its easy to understand format. So, whether you invest alittle or a lot, these biblical principles apply to you. In short, he'smade learning about investing as painless as it's going to get. ... Read more

Customer Reviews (19)

Sound Mind Investing Review
A very good book for beginning investors that need a crash course in mutual funds, the book's major focus. We will probably use this as a reference in our financial training classes for those that do not have any idea of where to start. The book gives sound, proven principals on how to handle your money, get out of debt, and have enough to invest.

GREAT BOOK!!
This is absolutely the most important financial planning book you will ever read.
I sure wish I would have read this book in my twenties.

I covers about everything that will come at you in your life, budgeting, pay off debt, saving for college, saving for retirement.All topics give advice and a plan to follow.

GREAT BOOK!!

Practical help for getting your financial house in order
This is probably the most practical and thorough book to help you get your financial house in order that I know of. The material seems as sound today as it did 15 or so years ago when I first encountered it, which is another way of saying I don't feel I've outgrown it as I've progressed somewhat in the seasons of life.

dont miss this one everyone should invest...
austin pryor packs this book full of great information and resources. check out his web site.

Excellent Financial Advice
Managing your Money God's way is an incredibly concise and easy to follow guide to financial planning.Great book for beginners as well as advanced.There's something for everyone. ... Read more

Product Description
Creating, funding and managing technology-based companies, a process knowingly referred to by venture capitalists and entrepreneurs as "doing start-ups," is a high-wire act unlike anything else in business.In Seed-Stage Venture Investing, start-up specialist William L. Robbins guides company founders, investors, service providers, and graduate students in business, science, and engineering through the venture formation, funding, and development process with refreshing candor and humor.With a start-up insider's sensibility, Robbins explains how to scout for promising technology, how to identify scientists and engineers who have the "right stuff," and how to navigate the ins and outs of "Start-Up Land" successfully, including helpful advice about technology transfer, intellectual property, fund-raising, team-building, working with service providers, and corporate partnering.With a combination of hands-on knowledge, true-to-life anecdotes, factual examples, and irrepressible wit, Seed-Sage Venture Investing tells it like it is, demystifying the start-up process for first-timers, and providing more experienced professionals with fresh insights.Whatever your specific field of scientific, technical, or business interest, Seed-Stage Venture Investing is an informative and highly readable guide to the world of start-ups. ... Read more

Customer Reviews (1)

The Best of Its Kind
This book is the best of its kind for those contemplating a start-up. While the author's background is in biotech start-ups, his advice is appropriate for entrepreneurs in any number of fields. There's a lifetime of advice in this easy-to-read and even engaging work. I highly recommend it. ... Read more

Product Description
Hedge funds are in the news and on the minds of sophisticated investors more than ever. Investors have questions about how the funds are structured, where the assets are allocated, and whether hedge funds can truly act as a hedge against market risk. The answers are all here in Investing in Hedge Funds.

Until recently, much of what makes hedge funds tick has been closely guarded--the intellectual property of Wall Street's investment elite. In this updated and revised text, Joseph G. Nicholas, founder and chairman of the leading industry information provider Hedge Fund Research, Inc., travels inside the hedge fund marketplace to explain the alternative investment strategies of top fund managers, providing clear descriptions of how to access these funds and where they're headed. It's a complete guide that everyone investing in hedge funds should study closely. ... Read more

Customer Reviews (9)

Too Brief
This book provides an overview of hedge fund structures, strategies, and investing.Though it provides an introduction to hedge fund strategies, its descriptions of these investment techniques are overly simple.

Only for the most basic hdege fund newbie
This book had a lot of promising reviews, but what a deception! The typography is very bad, some pages are writen so big that 2 pages could be condensed into 1. The overall layout looks like it was taken from a glorified powerpoint presentation...

The book reviews different strategies hedge funds can employ in one chapter. Thereafter one complete chapter is devoted to each strategy. However, you don't learn much more by reading the detailed chapter. If you have even a basic understanding of different hedge fund techniques such as market-neutral, merger arbitrage or global macro, then you will probably not learn anything new from this book.

The more interesting part of the book is the last part where the author tries to forecast where the industry is going. However, this is full of known truths such as "hedge funds will continue to exist and take on more importance"... duh! Maybe the book is simply too old and should be revised?

Don't waste your time and money on this one.

A Good Read!
While this book is meant to serve as an introduction to the complex world of hedge funds, hedge fund managers and hedge fund investors (in short, the hedge fund dynamic), it is decidedly not of the For Dummies family that currently dominates the do-it-yourself investment section of the book store. This is a highly sophisticated look at what has become one of the most exciting sectors of the investment world. If you have some knowledge of finance and its terminology, and you want to know what a hedge fund is, what kinds of strategies most hedge fund managers use and whether or not you'd want to or be able to invest in hedge funds, we ... recommend this highly specific book to you. On the other hand, if you just want to gain some insights into the investment world, you'd be better off picking up the financial section of the newspaper. Hedge funds are serious and so is Joseph G. Nicholas' book. (... note: Despite the 1999 copyright date, the book makes no reference to Long-Term Capital Management, the hedge fund that collapsed in 1998, nearly bringing about a global financial crisis.)

UNDERSTAND THE HEDGE FUND STRATEGIES MANAGERS USE
Nicholas examines all the hedge fund strategies in detail and provides the investor with examples of all the strategies used by managers. Excellent for understanding the mechanics of each strategy.As a doctoral student in business administration doing a thesis on hedge funds, I highly recommend this book for all investors

A good book overall
In the recent flood of often useless books aimed at investors this book stands out as a little gift. It provides a clear and detailed introduction to hedge funds useful to investors and to anybody with an interest inunderstanding how hedge funds work.The book is math-free, but thinking isnot optional.I like the summary of hedge fund strategies and thedescription of their returns and weights in the universe of hedge funds.Unfortunately, one has to hope that the chapter and the charts will beupdated frequently for they will be soon obsolete.As this book definitelydeserves to see more editions, I hope that the author will go through thetrouble to include both more examples and more details for each of theeleven strategies. That would definitely make the book more appealing tothose readers with sophisticated backgrounds and useful to be used inclassrooms as well. ... Read more

Product Description
Simply put, the essential first book for any investor.

Based on the million-copy seller A Random Walk Down Wall Street, this concise new guide by influential and irreverent author Burton G. Malkiel takes the mystery out of personal finance by outlining Malkiel's own ten-point plan for success. Easy to read and easy to follow, this practical book aimed at the investment novice cuts through the jargon to give readers the confidence and knowledge to make wise investment decisions that will provide consistent returns.

Beginning with the basics—"Fire your investment advisor" and "Start now"—Malkiel carefully and with good-humored authority lays out the rest of his "blessedly brief bare-bones guide to investing" (Business Bookpage). ... Read more

Customer Reviews (30)

Very pleased
In addition to being a Dean and an Economics Professor, Professor Malkiel is also a finance professor and an excellent writer.I am a finance professor too, but I have never met Professor Malkiel.This book summarizes the most important findings of investment researchers in an easy-to-read manner.I dont see any negative aspects to this book.

Very good book
This is a very good short and concise book on personal finance and a distilled version of his very popular book, "A Random Walk Down Wall Street."He not only discusses the basics of personal finance, but also a popular investment philosophy regarding efficient markets and how to buy stocks that will give you the best chance of success with the lowest cost.Great for the middle class person who doesn't want to spend a lot of money on a Personal Financial Planner or an expert stock broker.

Read and follow the advice of this Princeton University Professor, and you will save your self thousands of dollars in the long run.

Also, he just came out with another book with co-author Charles Ellis that is even shorter called "The Elements of Investing," which was published in late 2009 after the biggest economic decline since the great depression.It has his and Ellis' comments regarding the stock market crash of 2008 and early 2009, and their advice for moving forward.

Comprehensive and Enjoyable Guide to Investments
Burton G. Malkiel delivers on his knowledge of the market in a manner that is both concise and comical at the same time, making this a immensely enjoyable read. This is the first book on investments I have ever owned- and after reading it, it very well be my last. Malkiel does a wonderful job putting the often obscure and esoteric business jargon in plain English, giving detailed explanations of each of the four areas of investments(bonds, stocks, real estate, and treasury bills) followed by chapters and chapters of invaluable information that will guide you slowly through the chaos and disarray that is wall street.

Wisdom From a Pioneer
There are hundreds of "Investing" books available for purchase.As a practicing fee-only Certified Financial Planner(r), this is the book that I recommend to my clients (a close second is John Bogle's "The Little Book of Common Sense Investing").It is short, very easy to understand and is filled with useful wisdom.It should be required reading for anyone who ever earns, spends or invests money.A great use for $3 billion of the stimulus money would be to buy 300 million copies of this book and send one to every American.Our financial crisis would begin turning around almost immediately.

Great little book!
This is a concise, informative, and actually very engaging book. It is meant for those who do not have the time or energy to read the Random Walk in its entirety. It helps demystify investing. ... Read more

Product Description

[back cover]

The six-step program used by top institutional investors-tailored to drive any size portfolio

The Art of Investing and Portfolio Management concentrates the collected skill sets and strategies of today's top financial minds into an actionable, six-step process that can improve the performance of any portfolio. Three founders of a major investment management and consulting firm clearly outline how to capitalize in today's markets by using a time-tested approach to investing that has helped the rich get richer for decades.

Customer Reviews (1)

A Good Guide for the Beginner
Read this book if you are really unsure about investing. It's one of the best that you can find. Concise and extremely useful.

It provides you with the right mentality and the right principles. Even if you have good general knowledge of various asset classes, here's one book that grounds you and reminds you of the importance to keep it real. ... Read more

Product Description

The classic guide toconstructing a solid portfolio—with out a financial advisor!

“With relatively little effort, youcan design and assemble aninvestment portfolio that, becauseof its wide diversification and minimalexpenses, will prove superior to themost professionally managed accounts.Great intelligence and good luckare not required.”

William Bernstein’s commonsense approachto portfolio construction has served investorswell during the past turbulent decade—andit’s what made The Four Pillars of Investing aninstant classic when it was first published nearlya decade ago.

This down-to-earth book lays out in easy-to-understandprose the four essential topics thatevery investor must master: the relationship ofrisk and reward, the history of the market, thepsychology of the investor and the market, andthe folly of taking financial advice from investmentsalespeople.

Bernstein pulls back the curtainto reveal what really goes on in today’s financialindustry as he outlines a simple program forbuilding wealth while controlling risk.Straightforward in its presentation and generous inits real-life examples, The Four Pillars of Investingpresents a no-nonsense discussion of:

• The art and science of mixingdifferent asset classes into aneffective blend
• The dangers of actively pickingstocks, as opposed to investingin the whole market
• Behavioral finance and howstate of mind can adverselyaffect decision making
• Reasons the mutual fund andbrokerage industries, rather thanyour partners, are often yourmost direct competitors
• Strategies for managing all of yourassets—savings, 401(k)s, homeequity—as one portfolio

Investing is not a destination. It is a journey, andalong the way are stockbrokers, journalists, andmutual fund companies whose interests are diametricallyopposed to yours.

More relevant today than ever, The Four Pillars ofInvesting shows you how to determine your ownfinancial direction and assemble an investmentprogram with the sole goal of building long-termwealth for you and your family.

Product Description

The Wall Street Journal Guide to Understanding Money & Investing initiates you into the mysteries of the financial pages -- buying stocks, bonds, mutual funds, futures and options, spotting trends and evaluating companies. For those who are curious but intimidated by everyday financial jargon, this guide offers a literate, forthright and lively alternative.Amazon.com Review
This handy fact-filled book initiates you into the mysteriesof the financial pages -- buying stocks, bonds, mutual funds, futuresand options, spotting trends and evaluating companies. For those whoare curious but intimidated by everyday financial jargon, this guideoffers a literate, forthright and lively alternative. Recommended. ... Read more

Customer Reviews (62)

Guide to Understanding Money & Investing
It is a short comprehensive guide to us investment dummies
to understand the terms and functions of stocks,bonds, commodities etc.
Looking to see if newer volumes have more info. This is a good start.

Great intro to investing
I have a Master's degree and have recommended this for people who know little about money and investing.It is a great intro to the basics of money and investing, even in today's economy.

Excellent beginner's guide
The book itself is an excellent beginner's guide to financial world and its terminology. However the condition of the book was somewhat worse than I had expected based on seller's description. Cover was rather heavily creased.

Great guide
I have given this book as a gift a bunch of tunes.Excellent beginner guide for anyone who wants to learn about the basics of finance.

Great book for beginners or those needing a refresher.
NEW EDITION - I love this book! This was one of the first books I read on money and finance many years ago. It was really the one that got me interested in financial markets, stocks, mutual funds and investing. Heavy with pictures and illustrations, first glance could be off-putting to the serious minded investor types. However, it is written in clear, concise easy to understand language, and for visual learners, the pictures are a fantastic help. The book is sectioned off into very short segments within each chapter, making it easy to navigate, and to pick-up and put down at random. As I mentioned, when I first read this book years ago, it got me excited about taking control of my finances and making my first forays into investing. (which worked very well at the time, by the way) Years later, I have just picked this book up again for a quick refresher, to brush up on what I have forgotten and to become aware of new developments in the markets over the last 10-15 years. Overall, it turns what can be a daunting, heavy subject into something easy and approachable. Worth the read. ... Read more

Product Description

The easy way to get started in investing

The most stressful investment for any new investor is the first one. All About Investing helps remove that stress, by providing inexperienced investors with techniques for establishing realistic investment goals, buying the proper assets to meet those goals, and constructing a safe and suitable portfolio of long-term investments.

Customer Reviews (5)

Very informative, but a little dry...
I am new to investing, and so I set out to find a book that would help me learn the basics (terminology, pros/cons, and basic strategies) and this book gave me the info I was looking for.It is dry at times (I certainly struggled through the last two chapters on options and futures) but overall I felt that All About Investing is quite a useful resource, especially for beginners.I might go so far to say it reads much like a textbook, but on the upside, it's not nearly as long as one might expect a finance textbook to be.I would definitely recommend this book togreenhorns wishing to take their hard-earned cash to the market.

Good Overview about Investments
This book is intended to give readers an overview of investing. The topics covered in this book are stocks, bonds, mutual funds, money-market securities, treasury securities, options, futures, real estate, precious metals, and collectibles. It also gives readers basic advice such as having an investment strategy and allocating assets among different investment types.

This book alone will not make an investor an expert in any of the topics covered, but it is a good place to start. Everyone who deals with money, which is all of us, should be educated about investments and different investment products.

- Mariusz Skonieczny, author of Why Are We So Clueless about the Stock Market? Learn how to invest your money, how to pick stocks, and how to make money in the stock market

Buebas is Dead
Never heard from this supplier.Amazon has reimbursed me.Guess I'll do without the book for now.

concise practical information
This is the best book I have found on general investing.It explains stocks, bond, options and other investment avenues very concisely and simply.The best book to start with.

Good overview
I haven't really gotten into the book yet, but it is what I was looking for -investing explained on a beginners level.

My children are interested in investing and don't know anything about the market.There are a few areas I need to learn about as well.

I recommend Thomas Sowell'sBasic Economics for someone new to economics.I am amazed at how he can explain economics so simply and understandably.There is a woeful ignorance of how the economy works.
... Read more

Product Description
Jim Mellon and Al Chalabi demystify the process of investment and let you in on a few of their BigIdeas - whilst you work out a few of your own:

Real Estate – can the hot housing markets really continue to generate 20% annual increases?

Stocks & Mutual Funds – the hardest of all investment classes to operate in, so where are the opportunities?

Bonds & Cash – not as boring as you may think, and with the capacity to make you a lot of money!

The ‘BRIC’ Economies – how do the emerging economies of Brazil, Russia, India and China stack up against the four key determinates of growth?

Commodities & Collectables – learn the five reasons why commodities are an investment vehicle set to grow and grow.

‘Green’ Investments – how can we turn the challenges of green and eco-needs into monetary returns on investment?

Given a bit of strategic thinking and proper planning these BigIdeas can turn into MoneyFountains, meaning your financial worries for the future are over before they’ve begun.

“The DIY manual for building lasting wealth” Ross O’Brien, The Economist Group

“Many powerful City pundits would give an arm and a leg for thirty minutes with Jim Mellon. Simply divide your portfolio into 10 equal amounts and invest them in his 10 BigIdeas - the advice in this book will beat most professional fund managers by leaps and bounds.” Sven Lorenz, market commentator, author & investor, and columnist for Money Week

“Packed with wise, practical advice, this book puts in plain English what every investor needs to know.” Alexandra Harney, former South China Correspondent, The Financial Times

“If fund managers are so smart why do they sit opposite me? As an investor who backs his own judgement with cash, Jim Mellon sits on the same side, I only wish I had met him many many, years ago!” Peter Simon, owner and founder, Monsoon & Accessorize

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Customer Reviews (3)

Interesting ideas - horrible timing
I liked the format of the book and thought the diagnostic on the website was interesting. The advice on the BRIC's is probably ok long term as a piece of a portfolio, though I am not sure about a CORE piece. The performance of BRICS is geared to global growth which will be shrinking for a few years on the back of the credit crisis and global financial meltdown. While the BRICS over time show high returns, in downturns they collapse and the average investor probably can't stomach that volatility. China for example is now down 65% in one year! Russia -40%, Brazil -30%, India -30%.
Jim Mellon is clearly a successful entrepreneur, and his various businesses have done well, despite the current downturn. He made a great deal of money creating and IPOing Speymill with the German and Macau pieces. Investors in the companies at launch and afterwards did not share his success though. I would agree with another reviewer that the timing of this book and its recommendations were particularly bad. The listed German Property funds recommended are down between 30-75%! One would think that these are now cheap and attractive with high yields. However, on further research you can see that there was a virtual gold-rush into Germany in 2003-2007 as large scale investors - Hedge Funds, Private Equity, and Institutions piled in to buy real estate. They used London and New York methods of assessment, profit calculations, appraisal and purchase. This inflated prices, lowered yields, and the last purchases came at the top of the credit cycle. The various companies now hold portfolios that are highly leveraged with lower values in a rising rate environment. In speaking to German Real Estate professionals, successful investment in Germany comes from buying individual parcels that have been highlighted by a local market specialist where one owns the freehold and collects the rent and doesn't have the public, daily mark to market. The authors both say this type of property investing is too difficult.
Demographic trends on ageing and managed care companies were outlined well and I think the US companies they discussed look interesting. Overall the book was easy to read, and well written. I found the Real Estate and BRIC pieces a bit out of context with the rest of the themes discussed and not germaine for the average investor.

Good Mega Trend Overview
If you're looking for a good starting point to understand what many call, " Mega Trends", this is a good place to start.I disagree with with Kevin Smiths Review.This book clearly states that the investment advice is for a time period of the next 10 years!Looking at the performance of some recommendations in this book over a 3 month period in 2008, during an unprecedented credit crunch is both ludicrous and short sighted.Although I only agree with maybe 6 out of 10 of the trend recommendations the book is informative and insightful.Anyone who wants to understand trends that will affect all our portfolios over the coming decade should use this as a very good starting point.

85% ofinvestments recommended hereareLOSINGin reality since the beginning of 2008 !!
85% ofinvestments recommended hereareLOSINGin reality since the beginning of 2008 !!

I watched all the stocks that are recommended in this book, and since it was launched, the recommended in this book stocks went down in value
with more than35%.

This bookis written only to make money for the authors,
and to make you lose money.

The title is very hipey, and the book doesnt live upto the title in any way.

Much of a shame this book ... Read more

Product Description
Explains what affects share prices, how to avoid unnecessary risks and how to trade on the stock market. ... Read more