Review of Hedgehogging (Hardcover)

I previously worked in the hedge-fund industry and now teach college students about finance. Therefore, I found Barton Biggs' anecdotes both instructive and amusing, having seen some of the poor lifestyle choices that some hedge fund managers ("hedgehogs", according to Byron) make.

However, the book's strength is not an "inside look" into the world of hedgehogs, but a series of instructive vignettes about how to be an "investor". According to Biggs, a true investor sees one step ahead, while the rest of us are responding to the "now".

The true investor pays a high price for this insight. A true investor makes mistakes, is inevitably early, has doubts, lives in a lonely world, and is abandoned at precisely the wrong time by his most loyal investors. Sleepless nights, grinding teeth, and poor digestion are just part of the price paid. (I certainly can attest to this, though I would never claim to be a true investor. I guess that I am just a "journeyman".)

The goal of people with money to invest is to find these true investors, give them their money, watch them closely, and stick with them through thick and thin. One must constantly watch, though, for the weaknesses that often come with success.

In the first half of the book, Byron provides many instructive stories, centered on his town of Greenwich, of successful hedgehogs who let their money determine their lifestyles. Inevitably, pride comes before the fall, destroying both lifestyles and businesses.

I strongly recommend this book, not as an investment guide, but as an "investor guide" -- a guide on how to be a successful investor or how to find successful investors to work for you. This book fills an critical hole in my library.

Addendum January 8, 2006: I've spoken to a few friends in the business who are quite angry about the passages in the book concerning the Breakers meeting that is sponsored by Morgan Stanley. I, too, felt that Biggs' comments were unwarranted, but they did not detract from the book for me. There are many in the hedge fund community who feel that Biggs owes them an apology. I agree.



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Review of Managerial Economics (Hardcover)

As an undergraduate Economics minor, general manager of a software company, and current MBA candidate, I consider Png's Managerial Economics work an essential addition to any business leader's library -especially anyone required to make key, informed decisions in the presence of scarce resources.

Dr. Png's Managerial Economics is head and shoulders above comparable managerial economics texts due to Png's use of relevant, real-world examples that drive home the course fundamentals.Dr. Png's content combines the science of Economics with the tenets of business strategy, providing the student with the key perspective needed to make intelligent business decisions in today's ever-changing business environment.

Instead of plodding over-explanation or over-simplification like many comparable texts, Dr. Png's work delivers the course concepts with informed clarity.Instead of feeling stupefied or unworthy after reading each chapter of the text, I increasingly gained a sense of knowledge and understanding as I progressed.This is the great difference between Dr. Png's work and the other comparable texts I have used:instead of feeling mystified, I finished the book with a higher degree of workable, usable economic know-how, that I have already incorporated into my every-day decision making

I highly recommend Dr. Png's Managerial Economics (2nd. Ed.) text to any student of business or anyone simply interested in keeping current with cutting-edge economic thought.



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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 How the Wise Decide: The Lessons of 21 Extraordinary Leaders [DECKLE EDGE] (Hardcover)

This engaging and extraordinary book is filled with fascinating stories and advice which is extremely valuable, even to those not in the business world. The authors have made a truly significant contribution on many levels - one which will improve lives in business and many arenas. It is also a page-turner. I couldn't put it down!



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Review of LEAPS: Long-Term Equity Anticipation Securites: What They Are and How to Use Them for Profit and Protection (Hardcover)

I read this book from the context of a long-term buy and hold, value-oriented investor.Although I take what options/LEAPS experts saywith a grain of salt because their perspective is so often technically(read: chart, volatility) oriented, at the end of the day I must concedethat Harrison Roth's claim that there is an options/LEAPS strategy forevery cloth is accurate.Roth's book is much funner to read than theaverage investment strategy book.Rereading "LEAPS" is hardly achore --and readers will likely find themselves rereading, with pleasure,as new investment opportunities arise.



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Review of Financial Derivatives: Pricing and Risk Management (Robert W. Kolb Series) (Hardcover)

This is a quick and easy guide to understanding derivatives.Excellent as a brief reference quide.Would recommend to professionals working with these products.



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