Review of Bull's Eye Investing: Targeting Real Returns in a Smoke and Mirrors Market (Hardcover)

This book asks where the stock market will be in ten years' time, and how you should invest as a result of that. It's potentially important, because discussion of long-term investment strategy (as opposed to next quarter's earnings) is so rare - yet obviously critical for investors.For that reason, I'm going to write a more detailed review than most of the others you'll find here.I'll summarize Mauldin's key arguments, briefly discuss his recommendations, and finally give you an honest appraisal of whether you should buy the book.

SYNOPSIS.In the first half of the book, Mauldin sets out to prove that in ten years' time the US stock market will likely be no higher than it is now, and possibly significantly lower.The stock market's future level will be determined by (a) earnings growth and (b) the value the market places on those earnings (ie. P/E ratios), so Mauldin focuses on these two elements. First, he argues that earnings growth will be disappointing.Companies' earnings will be depressed by the adoption of stricter accounting standards, the expensing of options, and higher pension costs. Combine that with anemic economic growth due to the aging of the population, the current account deficit and the budget deficit, and earnings are unlikely to exceed their historical growth rate of under 6%. Next, Mauldin argues that P/E ratios are unlikely to rise over the coming decade, and may in fact fall dramatically.He assembles a battery of arguments to prove his case.Secular bull markets have never started from times when the market's P/E ratio was as high as it is today.The market is currently overvalued according to multiple measures, and will likely revert to its historical mean.The risk premium is currently low, and a recovery to more sensible levels would depress P/E ratios.Finally, P/E ratios fall as inflation rises or an economy slips into deflation; so given the US economy's current inflation rate (close to zero), there's nowhere to go that would result in a higher P/E ratio for the market.With mediocre earnings growth and falling P/E ratios, the market is therefore headed nowhere or a lot lower.

If the market will be flat or down over the next decade, how should you invest?That's the subject of the second half of the book.Mauldin recommends that you buy value stocks or a mutual fund run by a value-oriented manager, since value stocks have historically outperformed growth stocks. Stocks that pay dividends are particularly attractive, as a large part of the total return from the stock market has come from dividends.You should also assemble a laddered bond portfolio, buy real estate, and buy gold or gold stocks if you have the expertise.His key recommendation, however, is that you should put your money into hedge funds, since hedge fund results are not dependent on the market rising.

HOW CONVINCING IS HE? Mauldin supports his argument that the stock market will stagnate over the next decade with data, academic studies and a reasonable description and rebuttal of opposing viewpoints.He comes unstuck, however, with the practical recommendations in the second half of the book.Three quick examples:(1) The first half of the book suggests there's a reasonable likelihood of deflation.In that case, cash would be a better investment than most of Mauldin's recommendations.(2) If the stock market is really heading down, as Mauldin suggests with his assertion that the market's P/E ratio could go to 10 or below, the best strategy for most investors is simply to buy long-term index put options; but he doesn't mention this.(3) Hedge funds have lousy tax efficiency, so returns for taxable investors would be a lot worse than Mauldin seems to suggest. These points deserve more discussion than this space allows, so I'll address them in more detail (and provide practical alternatives) on the TechUncovered web site. Suffice it to say that despite his honesty, Mauldin's viewpoint is likely skewed by his profession: acting as an introducing broker to hedge funds.

SHOULD YOU BUY THE BOOK? Despite these criticisms, Mauldin asks important questions and assembles and summarizes a lot of material.But here's the problem.Much of the content has been reproduced from Mauldin's free emails, which are available on his web site, and some of the key arguments are available for free elsewhere, such as Grantham's letters and Bogle's speeches.(I've provided links to these sources on the Market Resource Page on the Seeking Alpha web site.) Worse, unlike the emails, the book has been poorly edited.A couple of the chapters are co-written with a colleague, and read like stand-alone hedge-fund marketing material, while others repeat points in earlier chapters.So the book misses the opportunity to integrate the content of the emails into a readable, methodical argument. Whether you decide on the email archiveor the book, though, Mauldin is definitely worth reading.



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Review of The Big Love: A Novel (Hardcover)

While the premise is great, a woman's boyfriend leaves a dinner party to get mustard and never returns, what really got me was the main character. She's a little weird, a little normal, and a lot appealing. Every page seemed to peel back another layer to her quirkiness and while sometimes I thought she was more than a little odd, and almost unlikeable, she still kept my attention. One of the best books I've read in a while.



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Review of Managerial Economics: A Problem-Solving Approach (Mba Series) (Hardcover)

This book is designed for decision makers and not for academics.Each chapter provides a situation a goes through the logic of what one should do.It is also a very easy read for those who hate the standard textbook.



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Review of A History of the English-Speaking Peoples Since 1900 (Hardcover)

Reviewers who've disparaged this author refuse to accept the objective facts discussed in his book and the inevitable conclusion that arises from these facts: uniquely among great powers, the US and Britain have mostly been a force for good in the world.Simply compare, as the author does, the overall progress and freedom of the American sphere during the Cold War to the terror and privation of the Soviet bloc.Or the fact that the legacy of Britain's Empire is, predominantly, a series of countries with freely-elected parliaments (versus the blood-thirty dictatorships that have taken root in France's ex-colonies).Or recall the genocides comitted over the years by other world powers (Russia, Germany, Japan, China, Turkey, etc.).Unless you're incurably hostile to democracy and capitalism (capitalism being the economic manifestation of democracy), or to the use of military force to defend democracy against fascists (of any stripe or religion), this book will resonate with you.



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Review of The Risk Management Process: Business Strategy and Tactics (Hardcover)

This book had more then what I was looking for.

I was looking for a book on general financial risk management theory and processes (especially market risk management). This book gave more then that. It gave me insight on the theories and rationales on the topic.

The coverage extended somewhat beyond financial risks, giving background on risk management to an organisation as a whole.

The structure of the book was easy and logical, first part being the background and theory or risk management as a whole, part two detailing into the maths of risk management, and the last discussing control processes.

One lacking part (which I was looking for) was that it did not discuss in detail the business processes themselves. I may have over expecting it, but the topic seem to have missed out.



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Review of The Crisis: The President, the Prophet, and the Shah-1979 and the Coming of Militant Islam (Hardcover)

The Crisis is a must read for anyone interested in the situation in the Middle East today.David Harris has written an insightful, informative book on the three leaders who were involved in the Iranian hostage take-over.It is the best written book I have read on the subject.The book isclearly written and with such sensitivity that I didn't want to put it down.By focusing in on the personalities of President Carter, the Ayatollah Khomeinni and the Shah of Iran, I came away with a much better understanding of the three men and the incredible mistakes and misunderstandings that can happen in the world of international politics.Harris writes with a dramatic and visual flare that makes it a pleasure to read.

Judith Dwan Hallet
Documentary Filmmaker



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Review of John Neff on Investing (Hardcover)

Mutual fund managers who can beat the market for a couple of years are a dime a dozen. Mutual fund managers who can beat the market for a couple of decades are practically unheard of. Which is why almost every investor hasheard of John Neff. In his 31 years as a bargain-hunting fund manager, hebeat the market in 22 of them. By the time he retired a few years ago, adollar invested in his Windsor Fund in 1964 would have returned $56, versus$22 for the S&P 500.

In JOHN NEFF ON INVESTING, one of the truemasters of Wall Street tells us exactly how he compiled this amazingrecord. With collaborator Steven Mintz, he explains what kinds of stocks helooked for (in a nutshell, low p/e stocks of companies growing earnings inexcess of 7% annually, often paying a respectable dividend) and a long listof qualifications concerning just what makes one low p/e stock better thananother. (A low p/e company growing too fast is suspect. A dividend yieldisn't always a must. Cyclical stocks should offer lower p/e multiples. Thelist goes on and on.) Just as importantly, Neff shares the wisdom of alifetime in the investment business, outlining the pitfalls that can trapthe unwary investor. (See Chapter 9, CARE AND MAINTENANCE OF A LOW P/EPORTFOLIO.

The meat of Neff's discussion of his investment style isincluded in the middle third of the book. Armed with this advice, aninvestor can easily begin to screen the stock market for companies that fitthe Neff mold. (MSN MoneyCentral Investor, at www.investor.msn.com, offersa powerful and free screening tool. There are many others.)

Elsewhere,Neff devotes the first third of his book to talking about his formativeyears in the investment business prior to taking over the Windsor Fund. Inthe final third of the book, he provides a journal describing hisinvestment activities at the helm of the Windsor Fund. He talks aboutcritical buy-sell decisions, why he made them, and how they worked out ...and also describes the ever-changing market environment in which he wasmaking them. (Reading this book is a great reminder that large-cap growthstocks don't always lead the market, as they have for the past five years.As such, it should help investors be better prepared the next time marketleadership changes.)

If you had the chance to sit down and talk with JohnNeff for a few weeks about his career and his investment style, what youwould get, though likely not so well structured, would be this book. I'dlove to spend those weeks with John Neff. But I wouldn't give up the chanceto have read this book, either. Few investors have achieved more than Neff,and his story deserves a place on any investor's reading list. ###



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Review of Public Relations: The Complete Guide (Hardcover)

Public relations (PR) is a critical feature of any modern institution's marketing program. However, it is often not seriously considered as a legitimate part of corporate administration because it frequently focuses primarily on tactics - what to do, when and how - and rarely rises into guiding overall company strategy. Yet, if you want a practical guide that will show you how to create a media kit or develop a crisis management plan, Joe Marconi's book is for you. It delivers solidly at this general tactical level, where it is, indeed, a working guide. However, it does not transcend into more theoretical reaches. The book skimps on some more meaty, advanced areas such as the theory of public relations and how it fits into overall corporate strategy. The chapters also do not seem to be arranged in progressive order by subject. For example, chapters on speechwriting are sandwiched between those on crisis management and ethics. However, we find this book valuable for those who want an overview of PR's work-a-day aspects, including normal business tactics if not sophisticated corporate strategy. It also will help those who are not fully familiar with what PR can deliver to a modern institution in challenging times.



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Review of Oxford American Dictionary and Thesaurus (Hardcover)

Perhaps I will end up buying the Oxford English Reference Dictionary at some point, but presently, this Oxford American Dictionary and Thesaurus 1st Ed is great.I don't care about slang or computer definitions in my dictionary, English has always been English, and while American may be different in spelling, it is still English.Internet, blog, PCMCIA, ARP, .NET, Mono, etc... is in computer books, which is where it should be.I don't expect my dictionary to have the recipe for Rice Balls or the proper pronunciation of this common variation of a Japanese dish, now perhaps coming towards being cross-cultural.I expect that information to be in a cookbook.

However, in words, it's wonderful.Why?That's easy; I believe it's because it had 'anfractuosity' as well as the minimum of 3 decent definitions for 'numinous'.This was the smallest dictionary I could find that had all the words in the Prologue of 'The Problem of Pain' by CS Lewis.Any dictionary that can match words with the vocabulary that CS Lewis expressed is all that I need.

Some other thoughts... I've been reading dictionary reviews for 20 minutes, and I think there are too many people that are trying to get subject specific with their dictionaries.Dictionaries should be ENGLISH specific.It's all this slang, idioms, and subject specific vocabulary that has dropped my vocabulary to sad terms.Between that application, and the genuine desire of individuals around the world to give the wrong definition to words such as feminine, it's no wonder the young are becoming less educated while spending more time in school.

New English... There is no such thing.English is English.It's been essentially the same for much longer than I've been alive.

Still, you should definitely get a dictionary of slang and idioms.It's good to know what people are saying in a specific region/country.





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Review of Management Information Systems for the Information Age (Hardcover)

I have used (and continue to use) this text for a college class on MIS.It's among the best textbooks I've ever come across.The book is filled with real world stories of real companies and how they have improved their competitive positions using IT.It also contains numerous 15-25 minute group activities and "On Your Own" assignments.Each chapter ends with a list of Key Terms, as well as several short answer and discussion questions.

Finally, and what I like most about the text, is a section on "Real HOT Group Projects."Many of these require creation of database reports or spread sheet pivot tables.So, you may find yourself diverting some time to teaching spreadsheet and database skills.But how can you teach the application of technology to managing and creating information, without actually using technology to do just that?



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Review of The Rosary Girls: A Novel of Suspense (Hardcover)

In the Rosary Girls, Richard Montanari has created a masterpiece of suspense.Full of beautifully descriptive imagery, he brings the reader into modern Philadelphia for a harrowing and deeply disturbing tale of a ruthless serial killer who kidnaps, murders, and mutilates Catholic school girls and the detectives who try to catch him.
Montanari weaves his tale through the eyes of several different characters: the two main detectives on the case (Kevin Byrne and Jessica Balzano), a reporter covering the story, and the killer himself.Readers will find it interesting to see how the case takes a toll on the lives of the detectives both emotionally and physically.
I honestly could not put this book down.The short, but action-packed chapters add to the suspense, and the many dead-ends into which Montanari leads the reader will leave you as desperate to unmask the psychotic killer as the detectives.Catholic symbolism is everywhere, but Montanari explains everything so that readers of any faith can understand the events of the novel which take place during Holy Week (the week before Easter).
All in all, The Rosary Girls is a fast-paced, captivating thriller that will keep the reader on the edge of his seat until the EXTREMELY SURPRISING ending that no one could see coming.Don't miss this one!



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Review of Global Business Leadership (Hardcover)

I had thought that in our increasingly shrinking world American business leaders would have understood more about other cultures by now.Not so, as experience shows time and time again.Obviously, education about cultural differences, why they matter and how to navigate them should be required for everyone in business today.This book is just the way to start.It is a terrific primer for all those businesspeople trying to navigate our highly interdependent, complex and diverse global environment.Even if you only read the Bottom Line segments of each chapter, you'll come away knowing far more than your average businessperson today!



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Review of You're Broke Because You Want to Be: How to Stop Getting By and Start Getting Ahead (Hardcover)

When is the last time you sat down and read a book cover-to-cover without stopping?That is just what I did the other day when I got home and found Larry Winget's book waiting for me from Amazon.In "You're Broke Because You Want To Be..." Larry Winget uses this in your face style of self-help coaching to let you know that there is a way out of this debt hole you are in.Given the current state of the economy, this book couldn't have come out at a better time.

Larry puts it on the line and basically says that all of us have the power to make our lives better and stop the financial bleeding if we want to -- and you know what he is right.He states, for example, to get off your rear end and stop watching television and take a class or learn something new to help advance your career which helps you earn more money.He's dead on in that regard -- I personally stopped watching the idiot box over 2 years ago and started taking night classes towards an MBA.It has helped me more than I could ever have imagined.

The problem with this book is that most people, just as Larry says, won't want to do what he tells you to.They don't want to give up their cable TV, they don't want to get a 2nd job to pay off the bills, they don't want to stop eating out every other day.They just want a magic bag of money to drop into their lives.Well wake up folks, it isn't going to happen.The theme of this book can best be describes as "It's All About You!" -- YOU have to sacrifice to get out of the hole and if you aren't willing to or don't want to make tough choices then save your money and don't buy the book and continue living in your financial nightmare.

After reading this book I got the extra "boost" I needed to continue working my 2nd job (my own small business) to help it grow even more.My goal is to be debt free by the beginning of 2009 and I know I can do it -- I got my shot of reality from reading this book.Now I'm ready to hunker down and make it happen!



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Review of Drummer in the Dark (Marcus Glenwood Series #2) (Hardcover)

T. Davis Bunn keeps getting better.Wow!I thought he'd found his niche with "The Great Divide" (his legal thriller), but this book of political and financial intrigue raises the standard even higher.I'm not a big stocks and funds enthusiast, but Bunn manages to create a suspenseful and well-researched plot that hooked me early on.He works in a credible idea of dealing with Third World debt that I particularly found interesting. Beyond his obvious knowledge of the subject, Bunn creates believable characters and writes with a narrative flair that I personally love.His story is complex and maybe too intertwined for some to delve into, but I couldn't get enough.

As the title of this review suggests, I did lose sleep finishing this book.But the title is stolen from Bunn's own writing."Jackie's eyelids felt coated with shards from the hourglass of lost sleep."It's writing such as this, passionate and imaginative, that make the political and financial arena come alive.Jackie and Wynn, the two protaganists, are complex characters whom I came to care for.Although the spiritual lessons are muted and few, Bunn works in heartfelt and very real spiritual thoughts without seeming preachy.

With a recent batch of superlative novels by Christian authors("When Heaven Weeps" by Ted Dekker and "The List" by Robert Whitlow, to name a few), I must include "Drummer in the Dark" as one of my favorites.



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Review of The Gardener's Bedside Reader (Hardcover)

Any gardener seeking a bedside companion will relish this reader which pairs stories and essays with vintage ads, gardening memorabilia, botanical drawings, and color photos to inspire and entertain readers. Celebrated gardeners share their techniques and inspirations, while reflections on spiritual connections with the land and tips on design round out the offerings.



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Review of The 10 Smartest Decisions a Woman Can Make After 40 (Hardcover)

I just turned 40, so with this title I had to read this!I liked that the book focuses on what you can do rather than where you may have gone wrong.The author rightfully stresses that the decisions we make directly affect the quality of our lives, and encourages us to reevaluate our choices according to what we now know.Her advice is both useful and empowering.This is a great gift for anyone facing 40!



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Review of Financial Engineering Principles: A Unified Theory for Financial Product Analysis and Valuation (Wiley Finance) (Hardcover)

Good reading.Beaumont has shown how useful and insightful it can be to approach markets from the viewpoint of financial engineering as well as how to innovatively think about risk and return in an everyday portfolio management context. Well, I found the book to be very well written, concise, logical, and plain smart.



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Review of Mathematical Statistics for Economics and Business (Hardcover)

I bought this book because I was worried about starting an Econ PhD program without any experience in mathematical statistics. I am so incredibly pleased with my purchase. The author clearly lays out the axiomatic theory of probability and then continues to mathematical statistics, using many examples drawn entirely from economics. It is so helpful to see the connection to the material where I will actually be using probability. I'm so glad that I bought this book instead of a more general approach to probability and statistics.



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Review of Diaries, 1969-1979: The Python Years (Hardcover)

I have vivid memories of watching MONTY PYTHON'S FLYING CIRCUS every Saturday evening with group of fellow college students. We packed into the Grand Wazoo's apartment to watch the program on PBS followed by SATURDAY NIGHT LIVE. What a hoot!

I was delighted when I opened MICHAEL PALIN DIARIES as a Christmas present. I read it while receiving therapy for my back. The book was a fantastic diversion. As for me, I looked forward to reading Palin's description of the clerical attacks on THE LIFE OF BRIAN.*Well, that part was at the end.Nevertheless, the entire diary was a pleasure and captured my interest.

One unexpected dimension of Palin's life that captured my attention was the unfolding relationship he had with his family including his parents, wife and children. In particular, the progressive decline and death of his father produced a profound portrait of Palin.It was touching.Less touching but still an attention grabber was Palin's portrait of the other Pythons.The personality of each Python was a candid and multidimensional.However, I wasn't surprised by these descriptions and reaffirmed Palin's reputation as being "the nice one."

As for THE LIFE OF BRIAN, my primary interest in reading this diary, the description of the evolution of the leper and crucifixion scenes was a real hoot. The evolution of the leper scene was more complex than imaginable.

* An Episcopalian Bishop asked a close friend (a priest) to discourage his flock to not view THE LIFE OF BRIAN. He and his Bishop never saw the film, but after I explained the storyline, my friend became less concerned.The protest of the film could have easily been included in the film itself. If the Python boys realized a protest would ensue, I am sure they would have done so.




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Review of The New York Times Practical Guide to Practically Everything: The Essential Companion for Everyday Life (Hardcover)

I checked this book out from the library and after only a few pages I knew I must have it! It has sections written by many experts in their field. For example Bob Vila wrote about home renovation, and how long you can expect certain things to last, like drywall, and roofs. There was a section on how to scale and filet a fish with pictures I know I will refer to in the future. Also loved the section on how to pick out a good sofa, I knew nothing about coil count or that % of goose feather in the padding will let you know how soft the sofa could be. And that padding on the arms of a new sofa was particularly important because that's where you are more like to see wear and tear. The more I'm reading this book the more I'm learning. And although this doesn't completely delve into every subject, it enlightens me enough to point me in the right direction and is really enjoyable read. It has subjects that I feel I'm an expert in and don't need any more advice (such as Pets, Home technology and travel). And it also has subjects I want to learn more about and am far from an expert like gardening, real estate, parenting, investing, career paths, and so much more. I'm impressed by how much is in this book and how clearly things are explained. I would recommend this book to anyone and I know that I will be referencing it again.



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Review of St. Patrick's Day Murder (Lucy Stone Mysteries, No. 14) (Hardcover)

This installment in the Lucy Stone series is the best one yet. It is obvious the author did a lot of research on the Celts and Irish culture. Set around the St. Patrick's Day holiday, the author gives us that inside look into modern family life and issues that we all face daily.The book hold your interest while Lucy solves yet another murder. Lucy seems more together and polished in this book. She pays attention to detail and sees things the police do not see. This not only helps her solve the murder but helps her save a life. I am already looking forward to the next novel by Leslie Meier. Well done!



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Review of I Am Potential: Eight Lessons on Living, Loving, and Reaching Your Dreams (Hardcover)

If you saw the Hughes family on the ABC TV show "Extreme Makeover: Home Edition" this past February (2008) you may have wondered who they were and why they where chosen. The bigger story is however much deeper and more loving and certainly one that is most inspirational. The book " I Am Potential: Eight Lessons on Living, Loving, and Reaching Your Dreams" is a wonderful true life tale as told to Bryant Stamford by Patrick Henry Hughes and his father Patrick John Hughes. It goes well beyond just telling you who this family is and what makes Patrick Henry so special - it gives depth to the family experiences and gives the reader a look at something very special indeed.

This book is about how a young man, who has not only over come his disabilities, but inspired a community; and now, he inspires an entire nation with his positive zest for life. It also shows how his father coped and dealt with it and how the whole family made it work. This is one of those feel good stories that would make a great feature movie by Disney. The story is uplifting and not about what is wrong, or what someone cannot do. It is a positive message that makes the greater family of mankind feel better.

I enjoyed reading the book but I also found it impossible not to love this young man and to wish him all the best. He may be in a wheel chair and unable to see with his eyes - but he is moving others at light speed towards something much greater within their own selves. The book has a spiritual message without any lectures or ego driven, self-serving attitudes - it is honesty and pure love!

This book has gotten the highest book rating of FIVE STARS from "The American Authors Association" and is on my short list of recommended must read books! I give this my personal endorsement. This is a book that all family members can read.



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Review of Diana Ross: A Biography (Hardcover)

Even with Randy's third opus on Miss Ross I haven't any more of a clue as to who or what she really is but if you've bought the previous two books don't think this is just a rehash. It's a new book and impeccably researched and impeccably written.He's done his damnest to try to bring the complete person to the pages. Ross' own book showed she hasn't got a clue about who she really is (and, good grief, all the information and dates she had wrong or confused) and that she is the center of her universe, not the most sensitive to the feelings or viewpoint of others she's worked with.Since she'll never write the whole story, this book will do nicely.The most significant observation Randy makes is Ross'multiple personalities--almost every star in show business has them, a combination of sheer guts and ambition and power with total insecurity.It drives everyone around them nuts.(But not every star is a bundle of contradictions--some are in show business but not of show business and live their lives right side up.)As for Ross, I love her work--a fabulous career still chuggin' ahead--but I'd never want to get in her way.



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Review of The Panic of 1907: Lessons Learned from the Market's Perfect Storm (Hardcover)

This is a very short book about a fairly complex event.While it is accessable to the general reader, the book comes alive only when describing the recovery efforts of a group of private financiers led by J. Pierpont Morgan.More focus is needed to show how the problem developed and to help explain the dynamics of investor panic contagion.Further, government officials are given short shrift as either creators of the problem (President Roosevelt) or as Morgan's lackeys (Secretary of the Treasury Cortelyou).

The authors portray Morgan as a giant among dwarves.He almost singlehandedly ends the panic with visionary, unselfish, decisive and commanding presence.In regard to the latter attribute, Morgan is shown summoning the United States Treasury Secretary to New York, warning short sellers that they will be "properly attended to" after the crisis and ordering bank presidents to work.At one point, Morgan is almost godlike as he decides which savings institutions will be supported and which will be allowed to die.

Thus, The Panic of 1907 becomes the story of J. Pierpont Morgan vs. panic and greed.Government is given little credit for helping solve the crisis (except when the president agrees to interrupt his breakfast to promise he won't interfere with Morgan's plans).As an example of "adverse leadership," Theodore Roosevelt is listed as a primary cause of problems due to "rising regulation of an activist President."

While it may seem like a small error, the authors mistakingly credit novelist Sinclair Lewis with reporting about the meatpacking business rather than Upton Sinclair.This carelessness causes me some concern about other details presented in this work.

The reader knows more about the events of 1907 when he finishes the book but I am not sure that knowledge is balanced.Further, I did not find the lessons for today very applicable or compelling.I think the book would have benefitted from a bit more discussion about causes, effects and implications for the present.I would also be interested in a more nuanced analysis of the motives of Morgan and the other financiers who acted to help turn the corner on the panic but who must bear some responsibility for the state of finances prior to the crisis.



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Review of Mighty Fine Words and Smashing Expressions: Making Sense of Transatlantic English (Hardcover)

I bought this author's book on London and happened to notice that he wrote this one too, so I picked it up. Glad I did! It's really just what I needed for understanding the ins and outs of British English. Everything is treated by subject matter and I have found the book a real gold mine for trying to figure out just what people are talking about here (in London). The methodical presentation of spelling differences is really informative - it goes a lot deeper than I thought! The chapter on grammar is useful too, and I skipped some of the technical terminology but the examples of usage really told me what I needed to know. And I actually started hearing a lot of this stuff, as soon as I read about it. Spooky! Maybe people were using these constructions all along and I just blanked it out because I didn't really understand everything. All the chapters that treat different subject areas are also laid out well, and I found the one on health and healthcare really helpful in my job; it's mind-blowing how different the NHS is from US healthcare, you really have to learn a whole new vocabulary for dealing with it (I thought surgery was something a doctor did, not a place where he worked!). The chapter about swear words and other language you should avoid is a hoot! And really, the author's sense of humor comes through everywhere; I found myself chuckling all the way through it, at the same time I was learning. Thanks to this book, I can follow a cricket match or read an article about one and actually understand what they're talking about. Who knew that would ever happen? I really recommend this book strongly to any American who deals with, or wants to get better acquainted with British English; it would probably also be useful for Brits trying to understand Yanks.



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Review of The Last Man on the Moon: Astronaut Eugene Cernan and America's Race in Space (Hardcover)

Selected with the third group of American astronauts in 1963, Eugene Cernan "walked" in space as the pilot of Gemini 9, went around the Moon on Apollo 10, then returned there as the Commander of Apollo 17, the last lunar landing mission. A successful and interesting career even for astronaut standards. His autobiography, "The Last Man on the Moon", offers a personal account of those glory days of space exploration.

Throughout the book, Cernan portrays himself as a competitive workaholic, and it shows: there are a few introductory chapters on Gene's childhood and career as a naval aviator, and a brief afterthought on life after NASA, but the bulk of "Last Man" is about the space program, the space program, and the space program. Training and mission planning, the mechanics of crew selection, descriptions of his colleagues and anecdotes about their extracurricular activities, it's all there. The flights themselves are recounted in vivid detail, including a nauseatingly dangerous EVA on Gemini 9 and geology trips through the lunar valley of Taurus-Littrow. Overall, as Cernan later reflects, it feels "as if I was getting off one fast-moving express train only to immediately board another", and describes well the hectic and busy pace of the Moon race.

Underlying it all, and well in evidence, is the aggressive "right stuff" attitude usually found with this elite of pilots. It's easy to mistake Gene's self-confidence for arrogance, but he also displays plenty of humour and self-ironic jabs. Cernan was one of the more personable and gregarious astronauts, who clearly enjoyed the social perks that came with the job, and it's this mixture of cocky determination and laid-back charm that make his autobiography a gripping read. Indeed, "Last Man" is a page-turner in the real sense of the word. Particularly enlightening is the episode that saw Geno decline a LM pilot seat on Apollo 16, a gamble that paid off and in the end brought him command of his own mission. So is his relationship with geologist-astronaut Jack Schmitt, whom Cernan only grudgingly accepted on his crew. After some initial macho reservations against the "pebble-pusher", he learned to respect Schmitt as a tireless worker and supremely gifted individual who helped make Apollo 17 the most well rounded team of all. In between, with the lunar module on Apollo 10 spinning out of control for a moment, or a helicopter crash in training, there are enough close calls for several lifetimes.

The human qualities of the book show when Gene talks about his wife, Barbara, and the ordeals she had to go through, with an often absent husband in a dangerous job, while always displaying the brave "Mrs. Astronaut" to the public world. Ultimately, this ordeal led to the disintegration of Cernan's first marriage, and he speaks with a heightened sense of value about his family of today and his grandchildren. Such a sense of deep appreciation and philosophical reflection also shines through when Gene recounts his awe as one of only twelve humans to ever set foot on the Moon, "looking up at the cobalt Earth immersed in infinite blackness", and how the unique experience might have changed him. These are moments that he clearly treasures deeply, that left him with a restless yearning forever after. Cernan seems sad, not selfish, thinking that the accomplishments of the ten years of Apollo would probably take twice as long today, in a much more cautious and conservative age of spacefaring. And he expresses a sense of guilt at feeling unable to truly share what he saw in space with the rest of the world.

Geno needn't have worried there, for "The Last Man on the Moon" is a fabulous book. Well-written and informative, it leaves little to be desired. Perhaps, given the awe-inspiring nature of the subject, some chapters fly by just a tad too quickly, and one could have wished for a little more detail here, or a little deeper thought there. Overall, though, there are few better astronaut biographies. The page-turner qualities, Cernan's unique perspective (here is one of the three guys who went to the Moon twice!) and a subtle, but strong sense of philosophical reflection make for a very worthwhile read, not only for space enthusiasts.



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Review of It's Alive: The Coming Convergence of Information, Biology, and Business (Hardcover)

It's Alive has an unusual perspective.The authors argue that the valuable innovations of the next ten years are being developed in the research laboratories and advanced developments of organizations and companies today.The template is looking backward at Xerox's Palo Alto Research Center in 1971 as a way to have gotten a preview of today's computer-connected society.

The book will primarily appeal to those with an interest in applying complexity science and biological analogies through information technology to large organizations.Most of the applications here require tens of millions of dollars to do.So for those in small organizations, the examples will seem out-of-reach.

The main advantage of this book over similar books is that it has more and more contemporary examples and a further development of its concepts than the predecessors that I have read.

From looking at technological developments that are available now and those that are in process, Christopher Meyer and Stan Davis see the maturing of the information technology revolution occurring at the same time as the commercialization of various "molecular" technologies (such as nanotechnology, biotechnology and materials science).Because the two fields operate conceptually in similar ways, the authors point to a convergence that has begun between the two fields that will probably grow in the future.They also draw key lessons from the way that evolutionary biology operates to prescribe for business organizations in the future.

Here's the book's structure:

Introduction

Part IThe Next Ten Years
Chapter 1Economic Evolution:Learning from Life Cycles

Part IICode Is Code
Chapter 2General Evolution:Learning from Nature
Chapter 3Biology and the World of the Molecule
Chapter 4Information and the World of Bits

Part IIIThe Adaptive Enterprise
Chapter 5Adaptive Management
Chapter 6Seed, Select, and Amplify at Capital One
Chapter 7Breeding Early and Often at the U.S. Marine Corps
Chapter 8Creating the Capacity to Respond at BP
Chapter 9Born Adaptive at Maxygen
Chapter 10Becoming an Adaptive Enterprise

Part IVConvergence
Chapter 11The Adjacent Possible

To me, the most interesting parts of the book involved advanced experiments and applications of technology to solve problems.Most of these I had not read about before.For the most part, these are written in ways that a lay person can easily follow.

The organizational examples were helpful to applying the concepts of an adaptive enterprise.Apply the six memes (gene-like qualities of ideas) for managing:

Self-organize; recombine; sense and respond; learn and adapt; seed, select, and amplify; destabilize.

Of the organizational examples, I found the Capital One and Maxygen examples the easiest to understand.The BP and U.S. Marine Corps examples seemed a little sketchy.

My favorite example in the entire book was of artist Eduardo Kac turning Genesis 1:28 into Morse code and translating the results into a DNA sequence.He then had the sequence inserted into live bacteria, and displayed the bacteria publicly where viewers could zap the bacteria with UV to create potential mutations.Now, that's technological convergence!

The book ends with some speculation about new applications of convergent technologies such as matter compilers, personal hospitals, universal individual lifelong mentors, experience machines and social-science stimulators.

Don't let the book's conceptual structure scare you off.Underneath the new definitions and concepts, there's a lot of common sense that most will agree with:Get experience fast; learn from your experience; keep it simple; be agile; get to the most valuable places first with the most; and communicate in all directions.

After you've finished reading the book, I suggest you think about how the book's principles could be accomplished on a shoe-string by an organization that you know well.In that way, you will play a valuable role in being a commercializer of advanced laboratory results.



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Review of Advertising Works 12 (Hardcover)

Excellent professional book that presents practice oriented insightful materials in combination with in-depth business content and with demonstration of what worked and why. The book triggers thinking. Will be looking forward for next edition



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Review of Drama City (Hardcover)

It's hard not to like a character who loves animals, even mean animals - the mad ones, the dirty, the underfed, the sick, vermin infested animals too, some trained to kill. Dogs, cats, parakeets, etc., they're Lorenzo Brown's thing. He's an officer for the Humane Society Law Enforcement team in Washington, D.C., and likes his job, a lot. Lorenzo figures if something is off with an animal, it's a human's fault, and is ready to paper offenders and serve search and/or arrest warrants if necessary. He saved his own dog, Jasmine, the night before her scheduled euthanization. She is the first pet he has every owned.

Brown is an ex-con, out on parole after 8 years in prison for a drug charge. He is determined to stay straight. Each morning, when he walks Jasmine, he passes the home of Nigel Johnson's mother. Occasionally, he will see Nigel there, along with a couple of young men wearing thick platinum chains. The troops lean against their rides - BMW coupes and sedans, a black Escalade, "tricked with spinners in the mix." The black GS430 with "dual pipes and aftermarket rims" belongs to Nigel, now a powerful drug kingpin, who is usually busy directing business, talking on his Nextel. Lorenzo and Nigel, both smart and ambitious as kids, had run the streets together, going back almost twenty-five years. Brown had done the righteous thing by his friend. He stayed silent when he was pressured to give Nigel up. Brown chose to serve his time instead. Now he has had enough of the life. His old friends don't quite get it, however.

Rachel Lopez also loves her work. She is Lorenzo's parole officer and one of the finest. She comes on tough initially and lays down the rules, but she wants all her people to make it. She has invested much of herself in their ultimate success. Rachel knows Lorenzo has committed crimes not included in his jacket. To have advanced in the game as far as he had, he probably did some violence, maybe even killed. She also knows that now, in the present, Lorenzo is not a bad man. But Ms. Lopez has problems of her own. Her own life is spinning out of control, and her late nights are taking their toll.

Officer Brown needs Officer Lopez' support right now. He needs all the help he can get. A stupid mistake concerning turf boundaries has triggered enmity between local gangs. A psychopathic youth is on the streets, looking for a way to escalate the problem; waiting for the slightest opportunity to kill. A war is about to go down and our man could very well be sucked into it.

I have long been a George Pelecanos fan. Over the years, I have read all his books, and to tell the truth, he has only written novels that I love, and others that I like a lot. This one is special though. I was deeply moved by the character of Lorenzo Brown, a really decent man trying to straighten out his life. The author lets us in on his thought processes. Mr. Brown is far from perfect. He carries within himself a strong streak of humanity though, which is his saving grace. Then there is Rachel Lopez, whom I also grew to care about. She is battling, against the odds, to keep her head above water. They both are having a real hard time in this world, yet always look to give someone else a hand up.

No one captures the mean streets of the neighborhood like Pelecanos. His gritty prose, street-smart dialogue, fast-paced narrative and wonderful character development are what make his books bestsellers - literate ones! Highly recommended!
JANA



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Review of New Frontiers in Cognitive Aging (Hardcover)

Outstanding overview in a readable yet scholarly presentation.Up to date information usefule for researchers as well as lay people.



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Review of An Affair of Honor (Hardcover)

Thepageturner's review (below) inspired me to get this book, and Marius's hypnotic writing kept me reading it, almost non-stop. This is a huge, panoramic novel of 1950's Tennessee, set in Bourbonville, also the setting for After the War, and involving later generations of some of the same families. Hope Kirby's killing of his wife and her lover start the spiralling action in this thoughtful, but exciting, novel and provide the forum for the author's extended study of the different ways we define justice and seek retribution.

Charles Alexander, a college student and newspaper reporter who accidentally witnesses the double murder, escapes being executed by Kirby only because he promises not to tell what he's seen.Charles, however, eventually becomes overwhelmed with guilt and confesses to the sheriff that he was a witness.While this action might seem on the surface to be clearly a correct action, it is not so simple in Bourbonville, where many believe the "code of the hills" is inviolate and Charles's breaking of his word of honor to be a serious betrayal.Even the clergy get in on the action, some advocating that he retract his statement, and Charles finds himself with few friends and even fewer supporters.

Plenty of drama, and even melodrama, keep the reader going, and the pages fly by, as we become totally caught up in the plot and in the lives of the characters, all of whom face demons of some sort.Marius is a master of keeping mysteries alive and making us understand and care for these characters, even those we dislike or consider misguided, because he makes us share their experiences, often through flashbacks. The complexities of religious faith, which we see as Charles and many other characters battle their doubts, are brought into sharp focus as we also share the traumas many characters have experienced during World War II, traumas still affecting both their earthly and spiritual lives.Marius takes on the big questions and provides a fascinating novel in which love and justice sometimes seem ineffable goals in a society which often honors tradition and shared community values far more than humanity and individual worth.Mary Whipple



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Review of The Trillion Dollar Meltdown: Easy Money, High Rollers, and the Great Credit Crash (Hardcover)

This is a great book for those of you like me who are not in the financial services industry but who want to understand why our economy is melting down as we speak. It will also help you understand why this upcoming election is so important: The author describes the seismic ideological shifts over the last 40 years, from the Liberal/Keynsian era that imploded in the late 70s, to the current dying embers of the Chicago-School free market ideology that has held sway from Reagan up to the present moment. The author believes it is time once again for the pendulum to swing in the direction of more activist, socially conscious government intervention. He is not a liberal ideologue but a former banker who comes to his conclusions based on objectivity, knowledge, and lucid thought. The integrity of his thinking shines through every page. This is not always an easy book to read; due to the subject matter it is rife with all sorts of financial industry acronyms and terms like "tranch" and "quant" and "put", but don't let that throw you. Just keep reading with the big picture in mind and it will all come together in the end. It's well worth the effort!



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Review of Magic Words: 101 Ways to Talk Your Way Through Life's Challenges (Hardcover)

This book is a very easy to read little set of "wise" tidbits, told through anecdotes (mostly about very "improtant" multi millionaires and anonomous famous people. The book is broken up into three sections: Magic words to say to yourself; Magic words you say to others; and finally Magic Words universal. Nothing really profound and its not very deep. Neither of the co-authors have a background in Psychology, so I sort of wonder what the base their authority on. If you really want something like this, but more insightful, try either "Dont Sweat the Small Stuff" or my favorite "Finding Joy: 101 ways to free your spirit and dance with life" All three of these are based on the same premise of changing yourself and your behaviors so you can enjoy life, but the last two are just MUCH better.



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Review of Welfare Brat: A Memoir (Hardcover)

Intimate and powerful, Mary Childers' memoir of growing up in urban poverty in the 1960s Bronx leaves haunting images in its wake. Though arising from the usual sad litany of poverty - alcohol, drugs, unpredictable tempers, frightened children, abused women and dangerous streets - these images are singular, personal and painfully complex.

Like the time they had their roach-infested basement apartment painted, because a guy who owed the older sister's boyfriend a favor sent his crew over (this sister, Jackie, a high school drop-out, is already following in her mother's footsteps). Their mother, Sandy, exuberant at the prospect, drags the furniture away from the walls and urges the whole family to paint pictures of their own, whatever they want before the painters come to cover it up.

On the day itself, "no beer bottles in sight," Sandy takes them all to Coney Island, a trip which involves dragging cooler, stroller and duffle bag on two packed trains, where casual violence is always a danger. "Virtually every family on the train designates a hawk to detect the danger zones where action might flare....Everyone knows what happens if you interfere with teenage boys proving their manhood."

Though the lunch is only PB&J, "I'll be happy as long as Mom doesn't buy beer or, even worse, flirt one out of an innocent bystander." She doesn't and the day is idyllic. They take turns guarding the blanket. "I welcome my turn to guard our stuff. Reading on the beach without any of the kids bothering me is one of the most peaceful events of my life."

Sandy caps the day by taking the whole family on the roller coaster. Her glasses fly off in mid-whoop but her daughter Joan snags them in mid-air. Unfortunately a lurch slams her hand on the bar and a lens pops out. "Oh boy, wait until Mom sees this. She'll lose her temper. The day will be ruined....Mom believes Joan saved her glasses, and Joan and I dread admitting the truth. Joan squeezes back her tears as she rubs her hand with pain and worry." But the charmed day persists. Sandy's left eye is glass and it was the left lens that was lost.

Sandy is a mercurial figure who envelops her surviving seven children - six girls and one silent, outnumbered, beleaguered boy - with love, pelts them with curses, and leaves them hungry while she goes off partying. The atmosphere in their dank crowded apartment seesaws between giddiness and rage. And yet, suddenly, when one of the girls is hit by a car, Sandy promises God to quit drinking if the child survives - and does.

Not that her children trust the transformation. And the grinding cycle of poverty remains unbroken. Worn out by so many pregnancies and "bad habits" Sandy works even less, eking out their living on welfare alone and whatever her children contribute. While the fate of Mary's sisters remains precarious, her own determination is never in doubt.

"Most of the time I tell myself that my family feels like a lifeline, not a prison sentence, but I always have one eye on the door."

She is the one who insists on going to school, who braves any amount of resentment and ridicule to stay on the college-bound, escape-bound path. Taunted and persecuted by neighborhood kids as well as her mother, and even teachers sometimes for her welfare-brat clothing, Mary seldom wavers, as desperate as she is for friends and approval. An adrenaline-spiked stint with a neighborhood gang ends in shame when a boy's sneer jolts her back to herself. These kids are mean, racist bullies, she realizes. "I rolled in laughter when I should have been racked with guilt."

There are many threads that weave through Mary's story, but the cyclic, self-perpetuating nature of poverty is the strongest. There is one message children like her read loud and clear every day: "People who speak well and read widely may be admirable, but if you stand out, you'll be picked out. You're inviting trouble and loneliness when you distinguish yourself from your own by choosing to care about good grades, books, accents and magazine clothes.... Against my will, I've absorbed resentment and the nagging perception that my ambitions are disloyal, and worse, punishable."

Against the turmoil of the times: the assassinations, from JFK to MLK; the race riots and rampaging gangs; the fear of crime on the subway and on the street; the stigma and inadequacy of welfare, Mary keeps her eye on the prize - college. Escape. Her tumultuous, wrenching, sometimes funny story knocks home a serious lesson about the cycle of poverty. It takes more than brains, talent and hard work to escape the underclass. It takes steely determination, a tough shell and a willingness to go it alone.

- Portsmouth Herald



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Review of Derivatives: Valuation and Risk Management (Hardcover)

I have used Miller & Dubofsky to teach my undergraduate options class in the past and this year I switched to Hull (7th edition).I find that I much prefer the way Miller & Dubofsky is organized. A good example would be the treatment of forwards and futures.Miller & Dubofsky begin with forwards and move on to futures.In Hull they are treated together and this serves to confuse students, especially when it comes to valuation and marking to market.Another strength of the book is that risk management is addressed right away whereas in Hull it seems to be an afterthought.Hull's notation is also quite confusing for students.Hull tries to do everything using continuously compounded rates but for many instruments (FRAs and Interest Rate Swaps for instance) this is not possible.The result is a mish-mash of compounding conventions in the same formula.

There are a few weaknesses of the Miller & Dubofsky text as well but these tend to be minor.I think it would benefit by a second edition.




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Review of Encyclopedia of Mathematics Education (Hardcover)

Students need to hear the "real stories" of mathmatics for it to come alive for them. This excellent edition is chock full of marvelous tidbits and stories to tell and retell.

In addition to answering the question "Why do we need to know this stuff?" the volume contains classroom management and course management information needed by educators to improve their craft.

This is an excellent graduation present for anyone planning to teach in mathematics or the sciences, at any level.



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Review of Dealmaker: A Billionaire's Blueprint for Success (Hardcover)

Is how Forbes magazine described Wallace's claims of his net worth. His own financial statements claim his net worth at $250 million.Nothing to scoff at, but well short of his being a billionaire claim.He also claims right off the bat without any proof that most wealth in the U.S. was created through real estate investing.Uh oh.B.S. red flag raised.Check the Forbes 400 out.Real estate is nowhere close to being the the number one wealth generator in the country.Never has been.I question anyone who makes this false, unsubstantiated claim.Is this guy an infomercial huckster?This must also be a self publish deal, I was sick of the typos after the first few dozen pages.Do these authors have anyone read these things before they're sent out to be printed?He has some good info in regards to how to find investors and how to map a project out which keeps me from giving him one star.



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Review of Money for Nothing: Real Wealth, Financial Fantasies and the Economy of the Future (Hardcover)

A decade ago, economist Roger Bootle won respect for correctly predicting a long period of low inflation. In this wide-ranging look at the world economy, Bootle trades on that credibility to explain the origins of the dot-com bubble and to argue that the economy is in the midst of a housing bubble. He makes the convincing argument that stock-market gains are often little more than ephemera and he explores the idea of a knowledge-based economy. Bullish readers will be put off by Bootle's gloom and doom. Deflation has yet to occur, and the housing bubble he harps on has yet to burst in the time span since this work's publication. Still, we recommend this intriguing title to investors interested in a contrarian view of the markets and the economy.



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Review of Diccionario jurídico español/inglés - inglés/español: Aspen's English/Spanish Spanish/English Legal Dictionary (Hardcover)

It's little more than a glorified glossary, really. No context or alternative renderings provided. The cover is nice, though!



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Review of Of Permanent Value: The Story of Warren Buffett/More in '04, California Edition (Hardcover)

Andy Kilpatrick did a great job as usual.The chapters are organized as short stories.These stories and pictures take the reader into the world that surrounds Warren Buffett, Charlie Munger, family, friends, fans, and the Berkshire Hathaway subsidiary companies.The book is a solid account of Warren Buffett's and Berkshire's history.Furthermore, it includes many of the people that have been affected by this growing phenomenon called Berkshire Hathaway.

The author presents the story with a good sense of humor and he captures the spirit of fun each of these people bring to the annual meetings.I almost fell off my chair after seeing page 1464.This biography of investor Warren Buffett includes 1,500 pages and 750 photographs.It is a real valuable addition to anyone's library, and it is offered at a bargain price, relative to its intrinsic value.For those new to the study of the Buffett-Munger investment phenomenon, this book is a "must have" to your collection.The Compounding Success of the Graham-Dodd-Buffett-Munger investment ideas are conguent with ideas presented in the OPV book.Forget the Efficient Market Hypothesis!In an old school paper entitled the "Compounding Success Model", found somewhere on a web search, I had concluded that 10 major factors contributed to the Compounding Success of the Graham-Dodd-Buffett-Munger investment approach:
1. Rational and thorough business analysis, with keen emotional intellects that promote ethical information exchange.
2. Wide experience with analyzing and managing numerous different businesses.
3. Charlie Munger's Role as (a.)"Devils-Advocate" (Munger as therapist/analyst of investment decisions) and (b.) Munger's role in encouraging further limiting the portfolio towards "wonderful businesses."
4. Leverage via a Low Cost of Capital from Insurance Operations
5. Disciplined Tracking of Understandable Businesses
6. Analysis of Strategic and Sustainable Competitive Advantages of Industries and Businesses.Warren Buffett has a Masters in Economics from Columbia University and Charlie Munger has a Law degree from Harvard University. Both have a variety of operational business experiences.
7. Trustworthy First-Class Managements with proven track records.
8. Ben Graham's Mr. Market and search for the Margin of Safety. The Margin of Safety is the bargain obtained when purchasing at a market price below the intrinsic value estimation. Graham and Dodd taught: "An investment operation is one which, upon thorough analysis, promises safety of principal and a satisfactory return."
9. Satisfaction: Buffett stated: "Though "working" means nothing to me financially, I love doing it at Berkshire for some simple reasons: It gives me a sense of achievement, a freedom to act as I see fit and an opportunity to interact daily with people I like and trust."
10. Learning from Practice, Mistakes, and Experiences: "After many years of buying and supervising a great variety of businesses, Charlie and I have not learned how to solve difficult business problems. What we have learned is to avoid them."

Andy's book gives you a more comprehensive view of the human interactions that make these successes possible.I also got a big kick of Andy including my poem on page 1034.This book gives a very good account of Buffett's business and investing evolution.Any student of "investment decision making" should review this work. I learned more about this evolution by reading an earlier OPV edition.It described the growth from Benjamin Graham's classical "Value Investing" to the Buffett-Munger "wonderful business" purchases.

Of Permanent Value: The Story Of Warren Buffett is a big book that will appeal to fans of financial wizard Warren Buffett. It explores how Buffett began from scratch to form a business empire. It includes in-depth examinations of business philosophy while providing a fun and lively read.In my view, time is the friend of the wonderful book, and the enemy of the mediocre one. This one packs a big punch. In time, it will be a bestseller.



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Review of Of Permanent Value: The Story of Warren Buffett, 2005 Edition (Hardcover)

This new edition is the most comprehensive and compelling history of Berkshire Hathaway and it's officers, owners and hundreds of people who have invested in, run, benefitted, admired, nurtured, or otherwise influenced the life of Warren Buffett, as well as countless other people,factors and strategies responsible for the unprecedented and still relentless growth of one of the most successful corporate enterprises of all time. 272 quick-reading chapters cover just about every facet of the Buffett mistique, personality, thought process and lifestyle. The investment executive author and former journalist nails down all the whos, hows, wheres, whens, whys and hows relating to this remarkable man from his youth through the 2004 Berkshire Annual Meeting which brought 20,000 enthusiastic shareholders to Omaha this past May. Frank Betz



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Review of Investing Under Fire: Winning Strategies from the Masters for Bulls, Bears, and the Bewildered (Hardcover)

Investing Under Fire is a very interesting collection of essays by 30 luminaries from various fields, some of them not at all related to investing. Each selection contains at least a thought or two to repay the effort of perusal, and that's a great deal more than many books deliver, especially books about investing. The anthology's five segments cover mutual funds, key sectors - from Asia to precious metals, research and legal resources, innovative companies and geopolitical influences. Anyone who merely reads the first selection, by Vanguard founder John Bogle, and applies its lessons, would more than recapture the purchase price of the book. Despite the sometimes self-promotional comments from a few of the other contributors, it's a very valuable book. If nothing else, we note, it will expose you to a spectrum of diverse opinions, a useful prophylactic against complacency.



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Review of The Luxury of Time (Hardcover)

A realistic, no frills story of a mother and wive dealing with her terminal illness, trying to stay alive for the sake of her children. The story is told in simple, no holds barred language and will strike a painful cord with all parents both male and female. It is strikingly realistic in the detail of everyday family life and reaches out to the reader in gripping style. Sad in places but ultimately uplifting.



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Review of Inside Greenspan's Briefcase : Investment Strategies for Profiting from Key Reports and Data (Hardcover)

I have read tons of business/financial books. Inside Greenspan's Briefcase is the best guide to understanding the economy, investments and Greenspan himself. Please do yourself a favor and get a copy of this remarkable book. Rob Stein has done a great job at giving the read an easy way of understanding 'The Big Picture'



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Review of Managing Projects in Telecommunication Services (Hardcover)

I bought this book several weeks ago. Frankly, the shipping and the book is excellent. However, the content of the book is a little difficult. Author use strange word which I cannot look up in the simple dictionary. In sum, If you have enough time to read and analyze, this should be a good choice




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Review of Out of the Red: Investment and Capitalism in Russia (Hardcover)

"Out of the Red"...John T. Connor's analysis of the potential for investment in the burgeoning industrial expansion in Russia is must reading for anyone interested in making any sort of financial commitment there.

Mr. Connor -- and his co-author Lawrence Milford -- do an excellent job of analyzing Russia's transformation from riigidly controlled life under the czars and Stalin into today's free market economy.They also -- in a series of concise but illuminating chapters -- present clearly the risks and rewards of investing in that economy.

Mr. Connor's assessment of the present situation in Russia is in sharp--and somewhat welcome -- contrast to the barrage of anti-Russian rhetoric in the news these days.And his experience there over the past several years make him solidly qualified for that assessment.

Mr. Connor does not write in generalities.He names specific areas in which to consider investment and specific companies within those areas.
I found the chapters on Russia's vast reserves of mined resources...its production of oil and natural gas...and the growth of its information and communication business a fascinating read.

Every U.S. investor should glom on to a copy of "Out of the Red".



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Review of Corporate Governance in Banking (Hardcover)

Corporate Governance in Banking: A Global Perspective is an assembly of essays by learned authors discussing international laws and recommendations concerning corporate governance in banking, as seen from a global perspective. In an era of expanding globalization and corporations of ever-increasing power, the need for effective but not overstifling regulation of corporate banking and accounting is more pronounced than ever. Individual essays in Corporate Governance in Banking include "Corporate Governance in Banks: Does the Board Structure Matter?", "A Survey of Corporate Governance in Banking: Characteristics of the Top 100 World Banks", "Bank Mergers and Insider Trading", and much more. Corporate governance and banking is scrutinized in the setting of a number of different nations, including the United States, Australia, Germany, Hungary, and Korea. A heavily researched text especially for advanced students, scholars, and professionals in the field, highly recommended for the economic studies shelves of college libraries.



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Review of Modern Ranch Living: A Novel (Hardcover)

Poirier's latest book returns to the Tuscon setting of his excellent previous novel, Goats, to meander through a long, hot summer in the lives of two somewhat strange neighbors in a suburban gated community. Kendra Lumm is a fitness-obsessed teenager, spending hours every day running, swimming, weightlifting, and eating right. Aside from her body, her main concerns are her genius/nerd older brother, her anger management therapy sessions, her strange (and hilarious) verbal syntax, and the mysterious disappearance of the boy down the street who kinda-sorta-not really used to be her boyfriend. Also down the street lives Merv Hunter, a 30 year old water park manager who shares his insomniac mother's home. He's the only one of his prep school friends who never went on to college, and although he's very good at his job and likes it, feels the stigma of never having left home and gone on to bigger and better things.

Over the course of the summer, both will meet new people, learn things about themselves, and ultimately grow and mature. There's not much of a plot, per se, rather the book drifts along like the summer, as the reader gets drawn into Kendra and Merv's routine. Hovering the background, and occasionally stepping forward, is the plotline revolving around the the missing boy. A renown huffer of magic markers, he'd last been seen hanging out with some seedy, BMX-riding tweakers (methamphetamine addicts) who also happen to hang out around Merv's water park. However, for the most part, the book just meanders through the summer. Kendra grudgingly goes to her therapy sessions, attends a summer class where she makes a good friend, ponders her brother's sexual orientation, and heaps scorn upon his loser girlfriend. Merv attends to the daily routine at the park (including helping out a rich wheelchair-bound patron who has a debilitating muscular disease), and worries about his mother. A trip up to Phoenix to hang out with his old high school buddies (now pudgy cubicle-bound ex-dot commers) leads to a woman entering his life, and the possibility of a new relationship.

There a great deal to enjoy here, from little details about Kendra (for example, like other fitness compulsives, her first evaluation of a person is based of muscle definition and tone), to the way the desert heat comes alive. Characters are constantly in and out of pools, flipping air-conditioning on, and always in search of something to drink. The supporting cast is universally vivid, from the water park's ex-jock security squad, to Kendra's ex-punk parents turned vintage toy seller and golf pro. Interestingly, virtually every adult in the book has some kind of character flaw or problem, and there's a distinctly satirical aspect to anyone who has lots of book learning (examples include a poetry professor, and Harvard Business School grad, and Kendra's therapist). It's all part of Poirier has a skeptical take on traditional authority figures as well as the utility of dominant mass cultural trends and mores. The book's humor is a little hard to convey properly, one hesitates to use the word "quirky", because that implies a shallowness that the book is far beyond. Yes, there are some over-the-top strange events in the book, and yes, the protagonists are a little strange--but mostly Poirier's people are very human, and the way they act and react to the world around them is very real. Another strong work from one of the most talented young writers around.



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