Review of On Philosophy in American Law (Hardcover)

Some argue that American jurisprudence from the standpoint of creativity and innovative approaches is pretty much dead.This interesting collection of some 35 articles surely refutes that contention.The collection traces its origin to a short 1934 law review article by Karl Llewellyn titled "On Philosophy in American Law" (the article is reprinted with its original pagination as the initial essay in the book). Llewellyn's article is a whirlwind tour of American legal philosophy from the revolution to the 1930's. Llewellyn makes it clear that while he can trace the origins of the various developmental stages in American legal thought, his real interest is law in action and if it meets social needs.

In order to assess the current relationship between law and philosophy, the editor asked 40 or so leading contributors to the field to write short (4-6 page) essays on topics illustrating the role of philosophy in American law today.The results are very interesting and somewhat challenging.The best place to start is with the editor's own introduction; the three concluding essays which are commentaries on the essays also provide a useful structure for tackling the essays.The editor has grouped the essays under six categories which also helps orient the reader.Several points become clear as one reads the essays. First, there is enough creativity and energy represented here to light the city of Cleveland--American jurisprudence is well and alive.Second, over the last quarter century or so, many joint Ph.D.'s in philosophy and J.D.'s have begun to teach in law schools and to publish abundantly.This has resulted in (perhaps) unduly technical theories and philosophical constructs (yes I am thinking of Wittgenstein) being applied to American law.As some of the contributors recognize, there are few of us out here prepared to debate the fine points of "consequentialism," Gadamer, "virtue jurisprudence,"and Ricoeur on John Rawls. It would seem that American philosophy of law runs the risk of contracting into a smaller and smaller group of joint Ph.D.'s who spend there time talking and arguing with each other, rather than a broader readership. Fortunately, there are some folks such as Dennis Patterson who can carefully explain a philosophical concept so it is understandable, and then in a cogent manner apply it to a legal issue so that the result is exciting.

Finally, the gap between legal philosophers and those of us who practice law has grown it seems.Not one essay I believe is written by a practitioner; some contributors (as would probably Llewellyn if he were still around) point this out and it bears some thought. Law and the philosophy of law should not be separated by a gigantic moat if philosophy is to play a meaningful role in the real world. All that being said, this is a stimulating collection that creatively touches on everything from psychoanalysis to hermeneutics to "Continental philosophy" to rhetoric and Raz, Postema, and Posner and lots in between.Because the essays are short, the reader does not get bogged down in lengthy technical discussions; the editor's goal seems to have been to get it out concisely or forget it. Key sources in each essay are identified at the conclusion of the article; each contributor is identified as to current position (including email adddress) and leading publications; a helpful name index is included. Llewellyn wanted us to take a fresh look at philosophy in American law--in some 300 pages the editor has abundantly accomplished that goal.



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Review of Georgia: A State History (Making of America) (Hardcover)

I've recently moved to Georgia and decided that I wanted to know more about my new state.This book is very interesting and well written.I found it to be a gold mine of information.



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Review of How To Be An Index Investor (Hardcover)

I bought this book because of my confusion with index funds after reading different advertisements from newspapers and websites. The result of my learnings are three limit orders I just placed for different sector funds.

This book is written objectively without a slant towards a specific product. Also, written for the inexperienced as well as the professional trader. It provided some real insights as to how trading is accomplished (in plain English).

The bing "WOW" was seeing how I was being penalized as long term investor in mutual funds because of the annual tax distribution. Also, the majority of funds do not beat the S&P500 index!! Why invest in them when these new investment resources are available?

Highly recommend this book to all levels of investors.



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Review of Bryson's Dictionary of Troublesome Words (Hardcover)

Not to gild the lily, this is to all intents and purposes a basically good book. Hopefully, it will be utilized to put an end to grammatical and usage errors, as well as misuse of apostrophe's, "quotation marks" and other punctuation.

If that paragraph above does not give you the dry heaves, you need to read Bill Bryson's "Dictionary."

Unfortunately, much as I enjoyed this book, I'm afraid it will appeal primarily to people who already know a lot of this information, instead of to the many who would benefit from reading it. And that's too bad ("The belief that *and* should not be used to begin a sentence is without foundation. And that's all there is to it." [p. 13]).

As Bryson notes, this book is not a style or usage guide. For that, I would recommend Fowler and Wallraff, sources Bryson often cites, and especially Bill Walsh's Lapsing Into a Comma : A Curmudgeon's Guide to the Many Things That Can Go Wrong in Print--and How to Avoid Them. What this book does provide is a useful guide to clarity of expression through precise use of language. While many people may not know, or care, about the distinctions between "lectern," "podium," "dais," and "rostrum" (p. 119), for example, the distinctions are nevertheless important, and Bryson helps nail them down.

He makes the important point that English is a language without a governing authority. Tradition and usage define what's proper. Language is evolutionary -- an example, as Hayek noted, of spontaneous order. However, it's possible to take this idea too far. In the Introduction (a passage quoted on the back cover as well), Bryson says, "If you wish to say 'between you and I' or to use *fulsome* in the sense of lavish, it is your privilege to do so...". I'm not certain this is the sort of advice people necessarily need to hear, unless of course you add the important corollary that the rest of us have the privilege of considering you an idiot for doing so.

Apart from that, though, this is an entertaining as well as useful read, and one I encourage writers both professional and casual to keep handy.



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Review of Investments + S&P Card + Powerweb + StockTrak discount coupon (Hardcover)

This book has a tremendous amount of valuable information for those of us who want to understand what investments are actually about. There is a lot more to it than the simple bromides peddled in the popular press and media. Yet, when you get some basic concepts down, they become easier to understand and evaluate. The popular press is misleading in its oversimplification and silly statements (like "no one is buying today").

I want to praise this edition's organization. Since it is a text designed for use by students, the fifth edition I used is organized most helpfully. Each chapter has an overview and there are concept check questions at key points of the text that help you assess if you really understood the information you just read. The main points are restated in a concise summary at the end of each chapter and you can review the key terms to make sure you are absorbing the vocabulary.

There are valuable websites listed along the way for additional and related information. The authors and publisher also provide a website with materials including spreadsheets directly related to this book. The part of the site with online quizzes has a few typos and scoring errors, and that should be fixed, but the online materials are generally ok.

The chapter problems are another matter. Some are really projects and should be separated, I feel, from the study questions. They are good to do if you have the time and will certainly help your learning, but they can take some time to work through.

Some of the questions are very simple and are really a quick concept check and they seem out of place when placed along side the "projects". One VERY NICE feature of the questions is the inclusion of sample CFA (Chartered Financial Analyst) exam questions. This is very useful for those of us thinking about preparing for that process.

It is also worth getting the Solutions Manual. ISBN 0-07-233921-7. Don't by a mismatched solutions manual! As you work through the problems, especially the "projects" it is nice to see how these problems are handled by the authors.



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Review of America's Trillion-Dollar Housing Mistake: The Failure of American Housing Policy (Hardcover)

Tough but good arguments. If you are a pro low-income housing advocate do not pass up an opportunity to read this book. Admittedly told from a conservative's (ideological) perspective, this book presents many ideals advanced by former Chicago Housing Authority (CHA) Chairman Vince Lane, who was once on the Clinton administration's short list for HUD Secretary, as well as former(CHA) public housing residents.



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Review of Oxford Advanced Learner's Dictionary of Current English (Hardcover)

No other book on my bookshelf is more worn out. I use it all the time. When I started to study English I used to use an English / Portuguese (my first language) dictionary but I could only actually improve my English when I started using the Oxford Advanced Learner's Dictionary.

The dictionary has lots of pictures (over 1700) for words that can be explained but for which a picture is much more effective like "hinge". The words have a pronunciation guide with a mark (') showing the main stress. There are many useful appendixes like irregular verbs conjugation, usage of numbers, punctuation, family relationships and a few colorful maps.

Over 220 usage notes clarify the subtle differences among words such as dealer trader and merchant. Although it's mainly a British English dictionary the differences in spelling, use or pronunciation between American English and British English are stressed.

By far the most interesting feature is the extremely reduced defining vocabulary constituted of 3500 words. The great majority of definitions are written using that reduced defining vocabulary. This simplifies the definitions and it's a great starting vocabulary for the beginners. The use of such a small defining vocabulary rules out the use of this dictionary as a thesaurus but the advantages compensate this drawback.

My copy is a paper back that has been reinforced with adhesive tape. This makes the dictionary lighter and handy. I used to put it on my back pack and take it to all my classes when I started college in USA.

The drawbacks are the need of an additional thesaurus and the fact that the entries are not syllabified. Nevertheless I would give it 10 stars if I could.

Leonardo Alves - December 2000



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Review of The New Basel Capital Accord (Hardcover)

This collection of articles and academic studies varies widely in tone and readability, but provides a much-needed critical look at the new Basel Capital Accord (Basel II). This international agreement on bank capital standards, scheduled to replace the 1988 Basel Capital Accord (Basel I) in 2006, will directly affect 10 to 20 of the biggest banks in the U.S., but may have a ripple effect on smaller institutions. The expert authors gathered here agree that Basel I, though ground-breaking and necessary, was too simplistic. However, the solutions proposed by Basel II create new problems in addition to solving old ones. Just as Basel I did not prevent the worldwide financial crises of the late 1980s and early 1990s, new problems are already arising that are not adequately addressed by Basel II. The new accord is an important step, but may best be understood as an evolving process rather than a set of ironclad rules. We recommend this book to bank regulators, managers of large banks and anyone else with a vested interest in international banking standards.



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Review of Inflation-indexed Securities: Bonds, Swaps and Other Derivatives (The Wiley Finance Series) (Hardcover)

wow, incredible improvement to the first edition. coverage of all important aspects (i can think of) on inflation. history, example issues, purpose of use from investor & issuer as well as technical points regarding calculation and pricings.



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Review of The 85% Niche: The Power of Women of All Colors--Latina, Black, and Asian (Hardcover)

The 85% Niche: The Power of Women of All Colors--Latina, Black, and AsianThis is must reading for anyone envolved with product development and the marketing and selling of products.The author, Miriam Mulay has profound experience across the corporate landscape.Women of Color represent 1 Trillion Dollars in purchasing power. 85% of all purchasing decisions are made by women. The book's premise is that by building brand image and awareness to Women and Women of Color, a corporation will increase its marketing and advertising effectiveness and its overall market or sales penetration. Read it today.





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Review of China Fever: Fascination, Fear, and the World's Next Superpower (Hardcover)

CHINA FEVER is one of the best books in exploring China's recent developments, a puzzle full of opportunities and challenges, not only to the outside world, but also to the Chinese themselves.

This book uncovers the mystery behind China's economic rise, reveals how "Face Culture" shapes China's ambitions. This book also explains why China won't adopt Western democracy, thus contradicting western prediction that China will adopt western political system with the rise of a middle class as a result of its economic miracle.

CHINA FEVER is a must read for all those who are interested in China. It benefits scholars with its sophisticated analyses of China's diverse economic system and one-party political structure. This book also should interest the rank and file with some fascinating tales of pop culture.



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Review of Stuck in the Shallow End: Education, Race, and Computing (Hardcover)

This book is a germinal work for anyone who cares about the critical intersections of education, race, and computing. It is shocking and sad and uplifting and it is essential reading for educators, administrators, parents, community leaders, policy makers, and anyone who cares about the future. Margolis and her team show that when it comes to education and computing, the emperor has no clothes. Schools may be filled with shiny new machines but this is no guarantee that students are learning the high level critical thinking skills they require. The writers also lay bare a pervasive and systemic racism that virtually guarantees that even the best and brightest minority students receive nothing more than rudimentary point and click computing education, severely diminishing their abilities to succeed at the post secondary level and to thrive in the increasingly technological world in which we live. Set all of this in a bureaucratic quagmire where actually educating the students (rather than just managing them) is a near impossibility and one begins to feel as though this is a hopeless situation. But this is where Stuck in the Shallow End actually triumphs. In the midst of grim reality it offers hope, showing how researchers, teachers, and administrators can work together to acknowledge and overcome the ingrained inequalities that keep so many of our students from achieving their full potential. And it should also be mentioned that this is not just a thoughtful book, it is also extremely well-written and accessible, even to the most dedicated non-techie.



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Review of Cuttin' Up: Wit and Wisdom From Black Barber Shops (Hardcover)

I truly loved this book. My heart leapt in my chest when I saw it on the book shelf. As a "kitchen-barber" for more than twenty-years I was ecstatic to see the subject matter bound withphotographs and ready to read.

The barbershop has for men of African decent been a respite from women, life's pressures, etiquette, censorship and sometimes reality for many years. This highly valued institution often serves the community as an outreach center, political platform, advice booth, stand-up comedy tryout club and therapist's couch. Craig Maybery has struck gold again with an enjoyable foray into the subtleties of African American culture. Like his book, "Crowns: Portraits of Black Women in Church Hats" Mayberry gives the reader a clear insight into the passion Blacks have for their turn at at an American tradition. It was so refreshing to see an accurate view of the black barbershop which isn't exaggerated as in the films, Barbershop I and II or butchered like the Showtime adaptation "Barbershop"; (What a MESS!)

Using 49 short biographical stories the author gives us an authentic look into the motivations, tragedies, humor and passions of the men and women who cut and style the afro-american hair shaft. The portraits of these barbers are as they presented themselves to the author. They are human: Flawed, Dedicated, Unique and Proud.

The only disappointment I had in reading this book was not being able to find present-day photos of all of the subjects interviewed. I intend to give several of these books as gifts. A beautiful tribute to the men (or women) everyone needs and uses and takes for granted and noone wants to lose. Your barber.



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Review of Encyclopedia of Real Estate Terms, Third Edition (Hardcover)

Complete and comprehensive - never have those words rung truer than when one looks at "Encyclopedia of Real Estate Terms". With well over 1,500 pages of information on the real estate game, "Encyclopedia of Real Estate Terms" is composed and compiled by Damien Abbot, a man who has been involved in three billion dollars worth of real estate transactions during his globe-spanning, over forty year career. Now in its third edition, "Encyclopedia of Real Estate Terms" is a must for anyone getting into the world of real estate, and an invaluable reference for any seasoned agent who wants to stay on top of the game. "Encyclopedia of Real Estate Terms" is highly recommended for community library Real-Estate and reference collections.



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Review of Managing Financial Information in the Trade Lifecycle: A Concise Atlas of Financial Instruments and Processes (The Elsevier and Mondo Visione World Capital Markets) (Hardcover)

Martijn Groot's work in describing the world of financial content, data, and information is a comprehensive overview that spans multiple levels of readership.

For novices to financial technology, this book is the key manual in order to understand any financial technology application for the capital markets industry. By delving into various financial products, the content associated with it, and various industry players, the beginning reader gets a compass to navigate the wide world of financial data and financial products.

For more advanced readers and practitioners of financial technology and data, this book is a spot on read to make sense of the wide varieties and uses of this data. It really helps to put into perspective the kind of applications that are out there, and how this data is / can be used.

Also, what is new and intriguing to follow, is this concept taken from manufacturing - such as the supply-chain. Applying this concept and related metrics and ideas from other industries to the capital markets industry has been needed for a long time - especially in this day of rogue traders, operational breaks, and the resulting potential financial failures.

Definitely a must read at any level for industry experts and people who want to get into this space.




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Review of Garner's Modern American Usage (Hardcover)

For three generations, a single book dominated the market as the authoritative reference in matters of grammar, style, and usage in the English language: "A Dictionary of Modern English Usage" by H.W. Fowler, first published in 1926, ably revised by Sir Ernest Gowers in 1965, and now in its third edition (published 1996). But by the century's last quarter, the modern English language -- particularly its American dialect -- had begun outgrowing Fowler, and several newer guides began competing with it. The third (1996) edition of Fowler was a disappointment, and left the field without a clear leading authority.

That gap was filled in 1998, when Bryan A. Garner wrote "A Dictionary of Modern American Usage" (published by the Oxford University Press, which also published Fowler). Finally, someone had written a book that matched Fowler -- not only in its erudition, but also in its accessible style, and even its wry sense of humor. And Garner's book had the advantages of being written both in modern times for a modern audience, and in the United States by an American author about American English. The book is a gem, and as authoritative a reference as you will find in this field in the last several decades (and probably the next several too).

"Garner's Modern American Usage" is this oustanding work's second edition, now retitled after its author in view of the acclaim that the first edition earned. A new edition is appearing after only five years because, as Garner explains, "changing usage isn't really the primary basis for a new edition of a usage guide: it's really a question of having had five more years for research." The payoff shows. And the second edition builds upon the first: the first edition was a dictionary of words in usage, rather than words about usage, and therefore assumed that the reader possessed a certain working knowledge of basic grammatical terms and concepts. For example, the first edition didn't define such basic terms as "sentence," "phrase," "clause," "word," or "part of speech." The second edition appends a glossary that defines many such basic concepts. It also appends, as did the first edition, an 11-page chronology of books about usage, which illustrates both the rich tradition that Garner's work joins, as well as the tremendous resources upon which he drew in producing this magnum opus.



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Review of Multicultural Marketing [ILLUSTRATED] (Hardcover)

A very valuable resource. It includes all the relevant stats, and research to build a business case for increasing your ethnic marketing budget. If you are having a hard time getting buy-in from senior management for your ethnic marketing initiatives, this book is great ammunition.



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Review of Applied Calculus (Hardcover)

This book may have saved my sanity. I am completely math dumb! And to even think I can do calculus was just never a thought. So when I had to take the class to graduate I cried! I bought this book and poured everything I have into studying it over and over. I passed the class and never have to take calculus again!



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Review of Enough: True Measures of Money, Business, and Life (Hardcover)

The seemingly insatiable Wall Street desire for more, combined with look-the-other-way regulators, has landed the U.S. in financial crisis.In Jack Bogle's latest book, Enough, you can read it thinking about the current pickle we find ourselves in and you will understand why it happened.Hedoes a great job of explaining why there has never been a better time to learn individually, and as a country, when enough is enough.

This book delves into the perfect storm of investing created by costs, speculation, and complexity.It examines the folly of a business paradigm that focuses on the short-term bottom line; where business conduct and management becomes all about the sale, no matter what the cost.

In life we often seem to define our success by the material possessions we have amassed.The "he who dies with the most stuff, wins" philosophy dictates that somehow this will make us a happier person.Jack Bogle puts such a philosophy in perspective by reminding us that being the richest person in the graveyard shouldn't be our goal.

Enough is engaging and thought-provoking, and offers practical insights that extend beyond investing and business into life itself Jack Bogle clearly could have been a billionaire had he founded Vanguard as a for-profit entity.I suspect he must have realized far earlier than I did that there is more meaning to life than the accumulation of money.

Personally, whatI can't get ENOUGH of are the insights from Jack Bogle.Simple and obvious though they may be, sometimes life gets too busy to see what is right in front of our faces.And what's right in front of our faces in Enough, is common sense.




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Review of How to Build a Real Estate Empire (Hardcover)

How to Build a Real Estate Empire,
by the gang at Marcus and Millichap

What a great strategy, for a real estate investment brokerage firm to write a book that encourages people to learn about how to build wealth through investing in, you got it, real estate. What's even more brilliant is to highlight 4 of their (most likely) best clients and tell their success stories. Hats off the gang at Marcus and Millichap, they are definitely an aggressive firm that is going places!

Although the book claims to be for the more seasoned investor, there is much to be learned even for a beginner as long as they are interested enough to stay with it. The first four chapters tell about four investors and their successes. I would like it to have been more in-depth but you can get more than a few sound strategies from the short chapters (one per investor) that cover each investor.For example:

Ben Leeds says, "I am primarily an apartment investor. The multifamily segment is more definable, more predictable-a necessary commodity and more responsive to affective management. It is also easiest to finance...."

He also says he regrets everything he ever sold.

Leeds has 75 separate apartment projects totaling over 1,600 units with a value over $160,000,000.

I would have liked more than 25 pages about his story.

Next up is John Hamilton who built his real estate portfolio up from $0 to $200 million with some major hiccups along the way. I also would have liked more than 11 ½ pages on him.

A good tip from Gerald Marcil who has a portfolio of $150 million is to constantly monitor your holdings to see if the equity could be better utilized, with less risk someplace else. Something else he mentions that I am a big believer in partnerships. If someone wants to be a part time real estate investor, they should partner with someone who is full time. His chapter ends with, "If it was profitable and easy, everyone would do it."

The story of these investors absolutely shows that it is possible to build a huge real estate portfolio starting from practically nothing but determination and hard work.

The book then moves on to a bunch of interesting statistics and annotations which read a bit like a textbook, but are well worth glancing at and remembering them to use as a reference in the future. Some of the topics included are: a growing population and how it will affect real estate, lots of different market indicators and some great reference web sites. There is also a great section on real estate partnerships and how they can be structured.


Having written a book myself, A 20,000% Gain in Real Estate, by Kevin Kingston and having built a real estate portfolio of $25,000,000 starting from less than zero just 5 years ago, I will say that the concepts in this book are 100% worth knowing and the inspiration you can get from people that have built $100-$200 million portfolios are worth listening to.

By Kevin Kingston, author of: A 20,000% Gain in Real Estate


My Blog:
http://www.bloglines.com/blog/KevinKingston





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Review of A Sailor's Story (Hardcover)

Had the pleasure of meeting Allan Slaff and he gave me a book.I was unable to put it down once I opened it.Allan has led an incredible life and is the poster child for success.You name it. Allan's done it and done it well.I hope he writes another one!



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Review of Financial Engineering and Computation: Principles, Mathematics, and Algorithms (Hardcover)

The term financial engineering is appearing increasingly in the title of various works. What it actually means remains nebulous, for even natural sciences and engineering remain irresolvable at their respective cores. This is evidently addressing another boon of the digital age, where equations and approximations can be done both automatically, and with extreme rapidity. It is only natural for the advantages of this to trickle into research of finance and economics, only now it is becoming a steady stream, and, with the inclusion of this work, a most sound one at that.

It is inferred that the author views this phrase, "financial engineering," as the level of control over precision of computation, and then the resulting accuracy of projected results (with an occasional forecast of unanticipated outcome). His credentials validate this as well.

The tools utilized include the complete discipline of algorithmics, and numerous branches of mathematics, along with tools assisting with and automating graphics and formatting, such as Latex and Mathematica, all channelled into this most profitable and competitive field of finance.

The approach for most sections begins with a brief discussion of motivation, typically condensed to one or a few paragraphs, followed by an equation representing an historical approach to the problem. This is followed by one or more expanded sections building algorithms, expressed in mathematics and pseudocode, as well as plots of typical results. The section then concludes with a broader discussion of how computation and finance become intertwined through this particular application. The author is extremely well versed in both. There are numerous exercises as well.

The book has the look and feel of an adept computer scientist, applying his honed skills to the financial realm. The typesetting is extremely well done, and even for sections initially unfamiliar, the reader feels confident and motivated to become fluent in time. Many of the exercises have solutions provided in an appendix.

At the time of its original publish date the book was unique in the field due to its approach and concise depth of mathematics, all available from a single resource. The author clearly exerted an extraordinary amount of time and energy to producing this work, and each section attests to this meticulous attention detail.

This work is highly-recommended as a reference, for a plethora of well-constructed algorithms in pseudocode are provided; Java examples are also provided via a website. Some considerable level of sophistication in topics typically relegated to computer science and mathematics are required, for which the intrepid reader can find additional resources. When time and motivation are sufficient, there is a wealth of mathematically sound information, providing depth of understanding and a mature foundation to build upon just what financial engineering means.



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Review of Hitler’s Economy: Nazi Work Creation Programs, 1933-1936 (Hardcover)

According to conventional wisdom, as a result of military expenditures,Hitler's economy went from 34%unemployment when he entered office in early1933 to virtually full employmenr by 1936. Professor Silvermanargues, asa result of impressive research in Nazi archives, that it was work creationprograms that account for this "miracle" and it was the 4-yearPlan announced in 1936 that represented an emphasis on autarky and arms anda seller's market.It is surprising how conservative Hitler's initial planswere since they relied on the expertise of Hjalmar Schacht, who wasreplaced by Walther Funk after the announcement of the 4-year plan.byGoebbles. The early years represented continuity with the Bruning policy,particularly the Todt plans for motorization and the famous autobahns, oneof the positive legacies of Hitler. Silverman's account of sharp regionaldifferences is also interesting with East Prussia getting back to fullemployment at an early dater and Aachen lagging. It is natural to compareHitler's achievements with FDR's New Deal which initially had to deal withonly 25% unemployment. Generally speaking, Hitler was the more successful,particularly in view of FDR's attempt to balance the budget in 1937 therebyproducing the Roosevelt recession and the rise of unemployment from 14% to19%. While Currie and Eccles managed to achieve the Keynesian euthanasia ofthe rentier in the late thirties, Roosevelt was overall a timid Keynesianuntil Wprld War II and was plagued by double-digit unemployment until1941.FDR devalued the dollar in 1933 by about the same percentage asBritain in 1931 but Hitler and Schachr ruled out currency devaluationbecause of fears that it would be inflationary. Policies under Bruning hadbeen brutally deflationary with workers taking a 10% wage cut, but thr 1923hyperinflation (and Schacht's role in stopping it) was still fresh inpolicy-makers' minds. Workers in voluntary labor camps which absorbedunemployment were paid very low wages and lost their unemploymentcompensation which helped maintain price stability. Strangely Silvermanhardly mention the USSR as a source of ideas in the Hitler years lthoughthe 4-year Planitself was inspiredby the Soviet FYP, the second ofwhich was being completedby the time Goebbels began administering theGerman equivalent. Earlier (February,1935) Soviet-type "workbooks" necessary for employment were introduced. Ther Russian economytoday would seem to have more to learn from the German experience after 7years of Yeltsin's brutally deflationary monetarist policy than from FRD'sfiscalbungling. The non-payment of wage and pension arrears is a historiclow in the application of the neo-classical notion that attrbutesrecessionary unemployment to exhorbitant wages.



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Review of India's Financial Markets: An Insider's Guide to How the Markets Work (Elsevier and IIT Stuart Center for Financial Markets Press) (Hardcover)

I have been intermittently teaching an introductory course on financial markets and corporate finance in India at Pace University for the last three years and have found it difficult to find a book that explained the modern Indian economy in a comprehensive yet fundamental and comprehensible manner.This book by Ajay Shah, Susan Thomas and Michael Gorham is a godsend.Not only does it provide information about the Indian financial markets, but it situates the information in an analytical framework, so that it becomes easy to interpret.

I must mention three chapters, in particular, which will indicate why this book is more than a simple collection of facts about Indian financial markets.Chapter 1 gives us a broad perspective of development in India, explicated using growth theory.Chapter 10 gives us a great overview of the different kinds of financial firms with an imaginative typology of these firms into fund-based, transaction-oriented and infrastructure firms.Chapter 11 provides us with a political economy of Indian financial markets, with (for such a book) a thorough treatment of the different regulatory institutions.

If the government takes the policy issues laid out in this chapter seriously, we could very easily see India developing into a mature financial market.



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Review of Fixed-Income Synthetic Assets: Packaging, Pricing, and Trading Strategies for Financial Professionals (Wiley Finance) (Hardcover)

The author delivers clear and concise explanations on the more esoteric aspects of fixed-income securities.It is written using an easy to understand, building-block approach which enables the reader to grasp the theory behind creating synthetic securites.This book goes beyond textbook definitions and introduces essential strategies which can be used by trading managers, risk managers, and individual investors.



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Review of Credit Derivatives: Application, Pricing, and Risk Management (Hardcover)

This book explains the difficult field of credit derivatives
with ease and grace. Haven't found a so easy read.
Liked mostly the applicaton chapter 4. The pricing chapter 5 is also easy to follow. The Merton extensions could have used more meat (too much math).



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Review of Learning From Divorce: How to Take Responsibility, Stop the Blame, and Move On (Hardcover)

All too often when people separate or divorce they see it as catastrophic and the end of everything as it has been. They allow it to hold them back and get stuck in the anger, hurt, devestation and blaming. This book, written for the person going through it, is subtitled "How to take responsibility, stop the blame, move on" and that is exactly what it teaches.
Any change can be painful; the more important the situation that is changed, the more painful it can be. One can be stymied and stagnated by that pain, or use it to learn and grow as a person. This amazing book guides you to become a better you; to understand how you got where you are and how to improve your chances in future relationships.
It is a wonderful gift to give yourself or to anyone you love who is going through, or has gone through, a separation or divorce.



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Review of The Burkett & Blue Definitive Guide to Securing Wealth to Last: Money Essentials for the Second Half of Life (Hardcover)

The authors Larry Burkett and Ron Blue offer sound financial advice for Christians in their 40's or 50's preparing for the second half of life (but useful to people of any age). What your mother and father didn't know and couldn't teach you.

Did you know that our cost of living DOUBLES every twenty-four years? (using an inflation rate of just 3%) Will you outlive your savings and investments? Will Social Security be enough? How do you live debt-free in a material world? Are your investments in balance with the current economy? When should you invest in stocks? 401k's? Conventional IRA or Roth IRA? Bonds? Real estate? Certificates of Deposit? When is the right time to "cash out"? Is your head spinning yet?

Based on core Christian principles, the authors discuss nearly every area of personal finance, including the importance of giving and the myths surrounding retirement. Very straight-forward and easy to understand. Includes common questions and answers at the end of each chapter, interesting stories and personal experiences of the authors, scripture references, interactive worksheets and tables. A "must read" for every Christian.



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Review of The Cure Within: A History of Mind-Body Medicine (Hardcover)

Whenever a first-class scholar, like this one, writes a careful, data-based book, which is at the same time accessible to the intelligent lay person, we must be grateful.

This volume tells us much of the history, in the United States, of the various mind-over-body schemes:psychoanalysis, Transcendental Meditation, bio-feedback, Christian Science, and others.Nobody interested in modern American history can afford to ignore this story.

But I also found the book profoundly confusing.The author wants to tell us about these movements and how they were received by the public, but she has little interest, it seems, in the truth value behind the claims of these popular movements.Does bio-feedback, for instance, really help in reducing stress ?For that matter, is there such a thing as "stress" in the sense that the proponents of these movements have in mind ?Truth or untruth are things that hold little interest for this author.

Harrington generally tells the story of the beginnings of these movements as a series of successes, and then, for some reason, time and again, "things begin to unravel," as she has to state time and again.With all her sympathies for "mind-over-body,"sympathies that dominate her "narratives" (a favorite phrase of hers), it turns out, generally, and in stark contrast to her enthusiasms, that things don't work out after all, and it would seem -- though she never says this -- that it's probably best to be cynical about the whole lot of these movements.



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Review of People Get Screwed All the Time: Protecting Yourself From Scams, Fraud, Identity Theft, Fine Print, and More (Hardcover)

Robert Massi is a fixture on FoxNews, appearing often as a "legal analyst". I'm not a lawyer, but Massi's explanations have left me scratching my head more than once. Often it seems Massi is just filling time without much regard for what he's saying - and not much thought either. He's not dumb - he just seems way to willing to express an opinion on legal matters without thorough consideration of the facts.

In "Peopld Get Screwed All The Time", Massi writes of "real people" who run afoul in one way or another of the law. They also seem to be quite a collection of losers who could qualify for leading roles if Woody Allen ever does a remake of "Broadway Danny Rose", a movie about an agent who represents really weird performers.

Ostensibly, Massi is writing about "Potecting Yourself from Scams, Fraud, Identity Theft, Fine Print, and More". In truth, it seems Massi is simply trying to exploit his minimal fame as a television talking head.

The people, allegedly real, are apparently dumber than bricks. For example, we have one individual who doesn't do anything when fraudulent charges start showing up on his credit card account. For another man, Massi says "[t]he easiest lesson to learn from Milton's story is not to cheat on your wife", after the guy's wife left him and the new girlfriend also left him broke with a massive pile of debt. Of course, Milton didn't bother looking at his credit card bills and "would not have been surprised by Rachel's excessive spending - over $50,000 worth - or that she had failed to pay the monthly bills". In other words, Milton like all of Massi's other subjects is a jerk who put himself in his own misery.

Massi ends each chapter with a "How I would have counseled" the person. It's really bland stuff. Say, Milton, don't cheat on your wife and get her angry enough to leave you and don't be too quick to give the honey you just met full access to all your credit cards and not look at the bills.

On the whole this is a silly book. Massi describes a bunch of not very bright people who get ensnared in the kinds of situations not very bright people find themselves in. It is highly unlikely that such people are going to buy this book before they get themselves into trouble - and nothing in this book will help them out of their troubles.

On the whole, save your money and don't bother with this title.

Jerry







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Review of Common Sense Business: Starting, Operating, and Growing Your Small Business--In Any Economy! (Hardcover)

This work is an important acquisition for any small business
aspirant or entrepreneur. The author asks that we locate
a need and fill it. He recommends that we network with peers
to get support and advice. Small business growth will require
control of overhead spending, efficiency and timely cost savings.
Sometimes downsizing is necessary, as is hiring in upturns
or business spurts.

The section on capitalization recommends that we move capital
quickly while utilizing it slowly. The author encourages
us to save as much as possible and pay off debts slowly.
The volume encourages us to seek successful implementation
by utilizing both internal and external resources.

A strength of this book is that it will focus your attention
on seeking business opportunities which are vital to
consumers. The smart business owner seeks to determine what
people want and how to deliver products and services consistent
with the demonstrated needs.

This book will help with the planning, testing and initial
implementation of any new business idea. For this reason alone,
the purchase will be worth the price charged.



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Review of Lights Out: The Electricity Crisis, the Global Economy, and What It Means To You (Hardcover)

If you wonder how our country may be vulnerable in respect to the next national disaster, either via home-grown or foreign terrorist strike or climactic catastrophe or even simple human error....

If you are frustrated with recent power outages affecting your business or neighborhood and don't know why they are (and will keep) occurring...

If you wonder how we can get from "here" to "there" regarding our current reliance on overseas oil and fossil fuel-generated power to a more reliable, efficient and sustainable form of energy supply and transmission...

If you are someone in the industry who is frustrated with the merger and acquisition aspect of making the business end work and need both optimism and practical ideas for growth in this field.....

If you are, like me, a consumer who just wants to know what is behind the wall...

The answers, the ideas, and the possibilities are in this book.

I read "Lights Out" in two days.Informational without being grossly technical, provocative without demonizing any particular person or group, and at times bitingly funny, Jason Makansi writes in an accessible way about a complex subject, drawn from his deep background in the field and an honest, almost Trumanesque prose style.With no real understanding of how my lights go on, or any more than a consumer's investment in this industry--I was engaged from start to finish.This book sounds the alarm, describes the problems, and ignites a passion for taking the next step before we are facing a greater crisis.

For example, in the chapter titled, "Savvy Consumption, Empowering Ratepayers" he writes, "What if you also quantified the value of energy independence.....Imagine going to a filling station and seeing not only the price per gallon, but the hidden cost per gallon to protect our petroleum supply lines, fight wars in countries with oil and natural gas reserves, and lead global military defense!"

Did I mention he writes provocatively?

Regarding some of the dilemmas facing those in the industry he writes, "Both strategies for growth---'if we build it, Wall Street will come' and 'If we merge, business will surge'--are giving utilities fits.The problem is that delays, the money wasted on lawyers and consultants, and the general malaise that overtakes an organization under siege, drain time and money from real needs, like modernizing the infrastructure."

Did I mention he doesn't waste time demonizing but cuts straight to the problem?

And finally, from the chapter, "A Vision For The Future" he writes, "Imagine going to your local electricity store, just like you go to a car dealership, and picking out the model you want custom-built into your new home. What this industry needs more than anything else are entrepreneurial companies that provide home-and business-based electricity systems with the same quality and attention to detail of a home entertainment system:Maybe I want one that makes me feel better because it offers the lowest carbon dioxide emissions.Maybe I just want to be the 'baddest' dude in the neighborhood and pick out something that rumbles when I crank it up."

Did I mention he is funny?

There is so much more in this book, about the supply, the demand, the global structure of our fossil fuel reliance and the impending energy needs of other countries, to what is, in his view, the greatest concern:transmission.Along with a reasonable advocacy for taking a second look at nuclear power generating plants, (something I was previously opposed to), he also includes exciting ideas for new technologies and research, such as recycling the waste heat generated from all sources not just power plants, to a home meter that clearly and understandably shows the consumer how much energy is being used and when, to the idea of a national commission to unite and oversee power transmission from state to state.As Mr. Makansi puts it, "Why not?"

Can we reliably keep the lights on at our current levels of energy consumption?Are our grids vulnerable to sabotage and attack?Are there intermediate solutions that can be made within the industry and by our government that are practical, safe, climate sensitive and affordable now?Can I personally change the way I consume and view my own energy use?And what steps can be taken to affect the change that is needed?

Lights Out connects all interests on the way toward a more logical, more sustainable, more humane and renewable use of energy in today's world.The only question remaining:When will we take the next step?




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Review of Marketing Champions: Practical Strategies for Improving Marketing's Power, Influence, and Business Impact (Hardcover)

All of the innovative marketing strategies and best practices cannot be successful without a well-run organization. "Marketing Champions" provides marketing professionals with the road map to take a more prominent leadership role in driving business performance. This book will change the mindset of marketers as they better align with corporate objectives and forge productive alliances throughout the company. The authors do an excellent job of presenting an approach to win-win relationships for all players. Good tips and structured questions are included to help you easily put key concepts into practice.

"Marketing Champions" is a must-read for marketing executives ready to make their organizations one of the most respected and influential contributors to business growth. It is the critical guide for taking ownership of financial and strategic outcomes, breaking down operational barriers, and unlocking the company's full profit potential. Not only will this help CMO tenures last longer than the typical 23 months, but it will better position CMOs to compete for the CEO role.





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Review of Ten on Sunday: The Secret Life of Men (Hardcover)

I thoroughly enjoyed this book. It was very fast paced, funny and seemed to pick up momentum as it went along. Although there was not a suspenseful climax I still raced to the end to see how the book would achieve closure. The weekly basketball game served the book well. It was very interesting to read about how these guys would all gather weekly and how gradually they were able to reveal things about their lives. I admired how they truly came to care about each other and support each other.The characters were well delineated. I felt a little cheated because the author had to change their names to protect their privacy but their personalities shone through on the pages of this very enjoyable book.



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Review of Small Business Primer: How to Buy, Sell & Evaluate a Business (Hardcover)

Samuel Tuttle's Small Business Primer does a great job of covering a lot of territory in a very user-friendly way.It touches on a broad range of topics and concerns, and uses a straightforward, understandable approach to present the information.Simply stated, but thorough, it challenges you to consider many things, including the motivation to buy or sell a business in the first place.It lays out the importance of having a well planned roadmap, and identifies key resources to use in the process.Worth the read!

As an addendum to this, I'd also like to say it was a pleasure to deal with a seller who is as responsive as Mr. Tuttle.He is obviously a seasoned professional who not only understands how to successfully conduct business, but who also holds his customers (AKA fledgling entrepreneurs) with very high regard.




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Review of Piano: The Making of a Steinway Concert Grand (Hardcover)

The best thing about this book is that it actually makes riveting reading. I read it from cover to cover like one would a good novel and was disappointed when I got to the end. This is because it is written well and clearly, and the author brings in just enough of his own personal experiences and anecdotes to make it seem real and human. This book may be less meaningful to you if you are not a piano player, but I'm not a piano player and admit to a secret life-long curiosity about how pianos work.James Barron includes so much atmosphere and quirky character in his book "Piano - The Making of a Steinway Concert Grand" you will be as charmed as I was whether you know one note from another or not. This book not only demonstrates why each piano is as individual as a person, but also contains charming descriptions of the scores of people involved in its birth and development into a grand concert stage presence.This is a real treat of a book to curl up with in an armchair, and afterwards you will find yourself never looking at a piano in the same way again.




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Review of The Pentagon's New Map: War and Peace in the Twenty-First Century (Hardcover)

Thomas Barnett is a remarkable and very admirable fellow who has written a book that should certainly be read by more Americans.The book is well-written and Barnett comes across as someone who sincerely wants to improve the security of the United States and the world.Barnett has a powerful and inspiring (some may say intoxicating) vision of the role of the US in the 21st century.The only problem is that his approach is not workable.

Those who've read the likes of Martin Van Creveld and Thomas Friedman will find some familiar thinking in this book.The author's main contention is that "disconnected" countries, those that aren't connected via information and economic networks to the rest of the world, are a huge source of danger.Such countries are usually run by a nasty elite who essentially tyrannize their populations who are left poor and angry.Having been left poor and angry, these disconnected people are ripe for becoming terrorists and their nations ripe for the location of terrorist networks, crime syndicates, and so forth. Hence, we need to use military force to go in, defeat the nasty people running things, and enforce a new order that will give the oppressed people of these societies hope so they won't need to bomb us.In the process, we'll give them new law enforcement agencies that will crack down on criminal syndicates.

Reactionary types will accuse Mr. Barnett of being some kind of neo-imperialist or perhaps a global fascist.Nevertheless, I personally think that Barnett sincerely believes that what he is proposing would be a "good thing" and that it would improve the lives of the people he seeks to liberate.I'll leave the name-calling to someone else, as there are unquestionably lots of people running around who are willing to do just that.While the moral dimension to Mr. Barnett's proposal is fascinating and worthy of serious discussion (far different from the name-calling and character assassination I've heard up until now) my primary concern is whether or not the proposals in this book are cost-effective or even feasible.

I'm afraid that what Mr. Barnett is proposing is far more complicated, sophisticated, and expensive than what he leads the reader to believe.Barnett frames the issue in either doing something (what he proposes) or doing nothing.He points out that in light of September 11, 2001, we can't do nothing.And then he implies we're only left with his proposal.But he doesn't fully entertain the consequences of failure.Those consequences would be lots of dead young Americans, even higher levels of anti-American sentiment around the globe, and billions of dollars wasted.And due to the complexity of what Mr. Barnett is proposing, failure is more likely than success.

The essential problem here is one of complexity.Mr. Barnett's strategy focuses on the US spending extreme amounts of resources to bring order to troubled lands to harmonize them with current global economic realities.But the universe naturally tends towards disorder.As Mr. Spock pointed out, "Logic suggests that it's easier to destroy than to create."Chaos and disorder come naturally; order takes a significant input of resources.In attempting to create order in disordered places, the United States would be left extremely vulnerable to potential rivals and enemies who would simply try to create or enhance disorder in those places.This process would cost potential rivals very little but could have extremely high costs on the US on a sustained basis.An example would be Iraq, where we are hoping a mere $100 billion will bring about some kind of order.Anyone who wanted to harm us could spend far less money just to destroy that delicate order we've struggled to create.And in looking at Iraq right now, there's no guarantee that we are anywhere close to creating an orderly society.

As Mr. Barnett makes a big point about "disconnectedness defines danger" he doesn't really adequately bring the importance of this back to the home-front of American society.In an increasingly interconnected world, the US benefits not just from additional connectedness to others but to additional connectedness to ourselves.Improvements in infrastructure, a better business climate, improved efficiency, and so forth all serve to make the US a more competitive place on the international level and also serve to make the US a more attractive place for international capital and human resources.Barnett wants to put off making the US more connected in a highly dicey proposition to makedysfunctional societies more safe for international capital and human resources.Considering how intractable so many of our own various social problems have been it's rather presumptuous to assume we can go about fixing other places.And the cost/benefit analysis is lacking and, at least on the surface, not all that appealing.

For all my criticisms of Mr. Barnett's proposals I need to stress that I don't necessarily think his approach will lead to catastrophe on a nationwide scale.I just fear it will be exceptionally costly and put tremendous strain on our society, our military, and our economy.All for results that are highly improbable and quite unlikely to be successfully obtained.In short, it's a prescription for a gigantic waste of resources that even if it were successful would be possibly not worth the price. There are arguably more cost-effective and sure-fire ways of achieving a more secure future for the United States.

Americans who are interested in the future of US strategy need to be familiar with this book.While I strongly disagree with Mr. Barnett's proposals I also very well realize that they are and will continue to be highly influential.If you don't know what Barnett's talking about you can't even begin to understand the future debates about the US's role in the world.If you want to be a part of the discussion, get your hands on this book and become familiar with one of the most highly influential proposals available for the future of the United States and the world.



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Review of The Upside of Turbulence: Seizing Opportunity in an Uncertain World (Hardcover)

How well we deal with changes in our business environment is the most important issue that companies face. The Upside of Turbulence is a very riveting book that captures the many times that innovation and agility have to carry a company through some of the hardest issues that a company can face. I could not put this book down; it was that interesting and that good. While companies struggle to compete, and people struggle to compete for jobs, sometimes it is the inexplicable moments where even though the idea is unpopular that carries the company through rough times.

There are sections of the book I do not agree with, but most of the book has enough examples to show why things worked when they worked. Companies are struggling now to work out how to manage in what promises to be a very long recovery, the Upside of Turbulence demonstrates how this is the one golden opportunity for companies that understand how to take advantage of downturns and changes in business environments to not only survive but take advantage of the moment. That is what makes this a very good book to read, we all know when things are going badly, but often we do not know how to take advantage of things going badly. The Upside of Turbulence shows how others have done this, and some of the ideas can be applied to issues happening today. We live in a boom bust economy, this is one of the few books that goes back far enough to show how to leverage the boom and the bust and turn it towards an advantage for everyone who is running a company.

Rated 5 of 5 stars, because I could not put this book down, ended up reading it all day, much to my chagrin.







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Review of Ready...Set...Retire!: Financial Strategies for the Rest of Your Life (Hardcover)

I have been a Registered Investment Advisor and securities licensed. I have never read a financial book that is so clear and comprehensive on asset allocation. This book is a must for those that have a nest egg and wonder what they are going to do with their money when they retire. It
explains how to get a stream of income and growth at the same time.



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Review of Get Your Business to Work!: 7 Steps to Earning More, Working Less and Living the Life You Want (Hardcover)

In Get Your Business To Work! George Hedley shares lessons learned the hard way on not only what to do, but what to avoid when it comes to building an "On-Purpose, On-Target" business. If you are a small business owner who is tired of working for your business instead of the other way around, this book is for you. George sets out an easy to follow business blueprint that helped me change the way I look at the title "Business Owner".

I followed a similar path to George's construction business, but never could seem to get beyond a certain level, until now. I found exceptional value in the tools, assessments and valuable tips I found in his book. Right from the first page assessment I learned how to change not only my thinking, but also the outcomes I encountered while running my business day to day.

I've watched many of my associates run their businesses more like a hobby than a professional organization. George helped me understand how to raise the bar and create systems to not only organize my operations, but get more done in less time.

One of the most valuable elements is George's extended resources. His Business-Builder Worksheets helped me put down on paper exactly what I needed to do to grow my business. Just the process of writing it down helped clarify my goals, while pointing me in the right direction.

If you are a business owner or entrepreneur who feels stuck at your present level of revenue, success or "fun", buy this book!

Get Your Business to Work!: 7 Steps to Earning More, Working Less and Living the Life You Want



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Review of After the Trade is Made: Processing Securities Transactions, Second Edition (Hardcover)

Publisher New York Institute of Finance (former training arm of the NYSE) has another hit book here!This book steps you through a fictional stockbrokerage firm: "Stone, Forrest & Rivers" and leaves nodepartment out except the one we know so well: Sales.

You find out aboutthe business of the Purchase & Sales department, Margin Department,Reorg Dept. and several others.This is the easy way for a newcomer to thesecurities industry to find out how the firm actually runs.

When I was astudent at NASD "Phase" classes--training designed to get newexaminers (the NASD is the largest regulator of the securities industry,with more examiners than even the US SEC) up to speed quickly on theworking details of the stock brokerage and investment banking industry--Inoticed an earlier edition of this book in the bookshelf in the classroom. I asked about it because another, veteran examiner told me to get the book. The training instructor said "There is no other book like it. ..""It is the best there is for covering the entire operationsof the back office of a stockbroker".

It is no wonder this book is ahit with Lehman Bros. or with CPA firm Deloitte & Touche (they need toaudit stockbrokerage firms). If you are only investing, you don't need thisbook, but if you are charged with running a broker-dealer or auditing it,then this is the book to get you up to speed quickly!



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Review of Emotion and Reason in Consumer Behavior (Hardcover)

Those who have tried teaching advertising management know the delicate balance between practice and theory that we would like to maintain. Except for the fact it is altogether too tempting to rely on practice entirely, when you examine the available textbooks. Indeed, popular advertising texts (e.g., Kleppner's Advertising Procedure) are driven by the practical (or the industry point of view) without much attention to scholarly research. At a cursory view, it seems as if that is what students want as well - to have a practitioner with years of experience as an account or creative person to teach advertising management. After all, we who know marketing should stick to the customers' needs and wants! This, though, is lamentable to many consumer behavior researchers who aspire to the ideal confluence of teaching and research in the advertising arena. Simultaneously, business schools should be something more than vocational schools that produce advertising account executives or creative directors. As we know for a fact, they come back to school, yearning for some theoretical knowledge! Especially for the graduate level, you would ideally like to provide solid theoretical grounds on how academic research can systemically contribute to the knowledge base in the advertising world.

Teaching theory-based research with the practical advertising mindset will become much easier with Chaudhuri's new book, Emotion and Reason in Consumer Behavior. Rather than relying on a general consumer behavior text (such as Hoyer and McInnis), which may already have been used for the pre-requisite course of Consumer Behavior, using this text can cover a comprehensive range of main consumer behavior topics, including attitude, involvement, and learning, while being privy to explicitly linked areas of advertising that have been rigorously investigated (mostly by the author and his co-authors).

Another interesting factor in this text is the author's unique view of integrating research on emotions into the well-known areas of consumer behavior. Many students find it easy to relate that many areas of advertising are driven more by the emotion rather than cognition. For those students, Chaudhuri's new book will ease introduction of theoretical investigation of the emotion into the advertising classroom. For example, the author's research on the CASC scale (Chaudhuri and Buck, 1995) can readily be used to encourage students to conduct more rigorous research to fit their tasks at hand. Additionally, the discussion that forms the basis of the scale, of the triune brain including neomammalian, paleomammalian, and reptilian parts, is sure to fascinate and inspire readers.

Not only is this book recommended for students, but also for practitioners. The way each piece of the relevant research is illustrated at the end of each chapter will help practitioners in the industry (even without attending graduate schools!) to better understand and utilize results of scholarly research in the areas involving emotions.

In summary, Arjun Chaudhuri's new text of Emotion and Reason in Consumer Behavior is a definite must for those who wish to bring in scholarly perspectives of emotions in advertising into their curriculum as well as for those in the industry who wish to acquire the academic perspectives in the research of emotions.




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Review of Wealth Protection : Build and Preserve Your Financial Fortress (Hardcover)

This book will be good if you want to review the components that might make up your wealth protection strategy.However, the book comes up short on the detail needed to understand those components well or to structure a comprehensive plan for yourself.

To get a feel for the lack of detail take a look at the Table of Contents, note that it seems very comprehensive but when you look a little closer you will see that most of the chapters are LESS THAN 5 PAGES!The subtopics in each chapter usually make up a single paragraph with a large font bold heading that takes up a lot of the page.

In short, if you want to get an overview of the components you might ask your advisor to explain to you, this would be a valuable purchase.If you want to understand these things yourself, you will be disappointed.



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Review of The Tools of Government: A Guide to the New Governance (Hardcover)

Lester Salamon's edited book, "The Tools of Government," is an immensely useful work that identifies the various tools that government has today to effect its goals.Government policy-making has changed in recent decades.Now, problem solving by the public sector is not carried out by government alone.Nonprofits and the private sector have become involved, too.As Salamon notes (page vii): "Largely overlooked. . .has been the extent to which actual public problem solving has come to embrace the collaborative actions of governments at multiple levels and both government and private institutions."

A table on page 3 well illustrates this thesis.This table shows that:

(1) In social service delivery, 56% of services are delivered by nonprofits, 4% by for-profits, and 40% by government.

(2) In health, 44% of services are delivered by nonprofits, 23% by for-profits, and 33% by government.And so on.In reality, public service delivery is a complex mixture of government and non-governmental actors.

This volume describes the various tools used by those who deliver services--from economic regulation to government corporations to vouchers to grants to loans to tort liability to contracting and so on.The point is simple: there are many tools that can be used to achieve public goals--whether those services are actually delivered by the private sector, not-for-profits, or government itself.

However, tools are not developed and deployed in a vacuum.This volume also discusses the use of such tools in democracy and the nature of the politics of tool use.Also well discussed is accountability of the nonprofit, for-profit, and governmental sectors.

In the end, a well worthwhile book for those interested in how government decisions and priorities become implemented and services delivered.The book is not elegantly written, but there is much content here.



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Review of Operation Financial Freedom: The Ultimate Plan to Build Wealth and Live the Life You Want (Hardcover)

This book opened my eyes to a whole new world. It has taught me so much.It is different than the usual "get out of debt" type books, it walks you through step by step on how to do everything! There is nothing that this book does not cover.From getting your finances in order and tackling credit card debt, to going into business for yourself, buying a home, getting more money at tax time, saving plans, the list goes on and on.I truly enjoyed reading the book because I was learning tons of things that I never knew.I have read this book more than once, I use it as a guide anytime I come across anything questionable dealing with my finances. It is a great book!



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Review of Anatomy of the Bear: Lessons from Wall Street's Four Great Bottoms (Hardcover)

This book is a detailed history of the financial markets in the US, particularly the 4 bear markets in the 20th century. The style is a little technical, but still fairly readable. It could have used a little more editing (typos) but it's still a well-researched and very thoughtful book.
The author's main thesis is that stock markets move from periods of overvaluation to periods of undervaluation, and that there are certain signs that can be found at the end of any bear market. This information would be extremely valuable to any serious investor - rather than listening to a lot of the chatter on the internet or on TV, which often amounts to little more than cheerleading and wishful thinking, the information in this book will help an investor analyze at what point in the bull-and-bear cycle the market is at.
Obviously a lot more money can be made when buying at the bottom of the market, and the author did extensive research to uncover the indicators of a market bottom, so that you can apply them when the time comes.
Most recent investors have only seen bull markets, and so don't recognize the signs of a real, steep bear market - often losses can exceed 50% or more, perhaps 70%. Sometimes it can take decades to recover from the losses. This book will open the eyes of anyone who has believed the mantra, "it doesn't matter when you buy, just get into the market anytime, since stocks go up forever."



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Review of The Handbook of Fixed Income Securities, 6th Edition (Hardcover)

I used this book as a text for a graduate level "Fixed Income Analysis" course. This book covers almost all the fixed income financial instruments from plain vanilla bonds to interest rate derivatives. However, reading this book leaves the reader with a desire for more than just the peripheral knowledge, which is all this book offers.

Theoretically, this book justfies its being called a handbook, but on the mathematical front, it stands absolutely nowhere. There are little or no examples used in the text even though the author touches base on the advanced topics sometimes. Any fixed income practioner, including me, will tell you that ONE JUST CANNOT LEARN FIXED INCOME CONCEPTS WITHOUT GRASPING THE MATH BEHIND THEM, and this book scores poorly in the quantitative analysis. Fixed income securities are extremely sensitive to interest rate fluctuations, and hence, it would be only sensible to present atleast a few chapters trying to explore the concepts used in the modeling of interest rates. But this book doesn't do that. There is little quantitative discussion about duration and convexity, two of the most important risk-measurement tools for bonds.

Since it is called a handbook, I don't see any reason why the author should hold back advanced concepts from the readers. Conversely, since this book doesn't attempt to teach all the concepts to its readers, it should not be called a handbook. This problem is actually common to all the Fabozzi books. Either his math is weak, or he is just busy making money writing a handbook on every possible fixed income security. It's only a shame that a capable and learned individual like him should do such a sloppy job.

I would recommend books by Bruce Tuckman, Garbade, or Horne for more advanced and intelligent discussions on fixed income securities and interest rates rather than this book. One really need not waste money on this book. Theory on Fixed Income instruments is widely available from Federal Reserve publications, which are almost always free. Put your money only where it will produce fixed & positive returns - Fixed Income 101.



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