Review of Nothing Down for the 2000s: Dynamic New Wealth Strategies in Real Estate (Hardcover)

Buying a property for no or little money down is possible, and this book shows the principals and strategy for making alot of money from the property market using this strategy.It's money well spent in comparison to the Sunday morning info-mercials on this topic.

There is NOT good coverage of the RISKS.Allen is suggesting the most highly leveraged transactions you clould ever enter (short of buying futures on margin).Win, win big.Loose - you are Bankrupt (if your starting with minimum assets).

This is a good way to make money, there are risks and you must understand them.As well as knowing your market.

If you buy with no money down AND the market is going up you can't really loose.The things that spoil this, are:
* Macro economics - interest rates go out of control.
* Local markets.E.g. what is going to happen to the property market in Florida after the sting of hurricans?

The author brings home the power of leverage (this is pivotal to growing your net worth, whatever your strategy).He doesn't cover off the risks so well.Must have for prospective real estate investor; but underplays the downside.

Post Script: Clearly the people who wrote the next couple of reviews really don't like any critique of Allen's work.I wrote this book "UNDERPLAYS" the downside, I didn't argue the book ignores it.For example, the medium and long term impact on Florida's real estate values can't be determined yet - insurance increases and coverage issues wont surface for at least a few months, when they do, it will impact premiums.The damage and loss will also act as a detterant to potential buyers considering a move.

The exit strategies outlined in the book are superficial.Also, in the simplest of terms, getting rid of don't want property in a down market is very hard work (it isn't always possible).

This book addresses the risks of the last property crash quite well, and is not a get rich quick book.It does not, however,(IMHO)address SYSTEMIC or MARKET risk adequately. As pointed out, it was on the NY times best seller list for weeks (btw you can now pick it up really cheaply new or secondhand on Amazon, $8 off list price, cheaper than Barnes & Noble - mine will be listed shortly; this is a great service Amazon provides).

Timing the market is great in theory, but buy high sell higher is very hard work in a crash!!!!!Of course, we aren't heading for one .... there is no need to worry.Buy high sell higher can be fools gold - in particular if the market is a BUBBLE (for a good account of every market bubble since the Sixteenth Century read 'Devil take the hindmost: A history of financial speculation, Edward Chancellor.

I still think this is a good book, but want a better one? My suggestions would be Managing Rental Properties for Maximum Profit, or Investing in Real Estate 4th edition (very good coverage of leverage).I'm looking to buy my second US investment property (my previous realestate experience has been overseas) and I am researching my next steps.

Although this is an interesting and good book, the advice in these alternatives appears much more realistic and sound.



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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 Jim Cramer's Real Money: Sane Investing in an Insane World (Hardcover)

I loved the book!I hated the book!And I have recommended it to many and continue to do so, but with caveats and frustrations.

First, if you haven't watched Cramer's `Mad Money' program at least once on CNBC, you need to do so.One show will give you more insight into Cramer's emotional make up and give you more of what to expect from his writings than any review!He is, at once, informative, opinionated, contradictory and entertaining.Well, my wife would disagree about the latter!

Second, like him or not, he is one of those rare investment book writers whose track record is quite public.And he has practiced what he preaches to make (and lose and make again) millions in the market, mostly using other peoples money!To ignore someone with his success is not smart, but to take anyone's investment opinion as the `only truth' is equally risky.

So, let's get to why I stated that I loved this book.Because I do strongly recommend this book to people relatively new to managing their own investments.I especially appreciate his `buy and homework' mentality since many people try to manage their investments without accepting that there is indeed work to be done.He does a good job of explaining why fundamentals are important and how to utilize basic measurements.He does a very good job in explaining market cycles, especially the major ones that cause `big money' (pension funds, mutuals, etc.) to move in and out of various sectors.In general, this is an excellent first read for people new to investing and a reminder of some basics for the rest of us.

Okay, so why did I sometimes feel that I hated the book. Well, first let's acknowledge that there is no perfect investing book or system.There are too many variables, especially those that include each investor's personal status - time available to do the work, time horizon before retiring, money available, etc.Every writer brings their own background and bias into their writings and, in turn, tends to become dismissive of other thoughts.But if you read many differing investment books by successful traders, you will find that the methods that they use differ and are at odds with each other.While I generally like Cramer's honesty, I find that sometimes he dismisses some investing methods out of hand which, since this books and programs are targeted to the average investor, serves to bias people based on his own personal biases.Some examples:

a)Jim is a `fundamental' investor - he relies on more traditional analysis of a companies balance sheet and earnings to determine whether to invest in a stock.That is fine, but he goes on to essentially dismiss people who trade predominantly on technical analysis, with a portion of his book essentially saying "nobody has ever made any money trading that way." This is simply not true.Technical trading is simply a different type and method of trading and, indeed, many people have made significant money trading based upon technicals and combined fundamental + technical strategies.While Jim may not use technicals, his wife does, and quite successfully according to him.So dismissing anyone using or promoting technical analysis in the book does not serve the reader. It simply supports his bias.

b)While not in the book, you will find if you read more from him or watch his program that he dismisses alternative investments like options.Again, it is not that the average investor should jump into options without having clear knowledge and understanding of the risks, but to simply dismiss other investment area is to do a disservice to investors who wish to advance and learn more about various markets. (Options, for example, are as risky as stocks - no more so.Their risks, however are different and the knowledge needed is greater than for straight stocks, but given the investor's willingness to learn and understand options BEFORE beginning to trade them, options can actually REDUCE the risks of stock investing.)

Cramer strongly advises against simply following any advisors opinion to guide stock investments, yet sometimes his dismissals without substantiation serve the same purpose for those who may `believe' only Jim Cramer.

So, I highly recommend this book, especially for people who are relatively new to managing their own investments.Even people who only have a 401k can learn a great deal that can help them do a far better job managing the limited options most 401ks offer and improve their results.This is a great starting point for the average investor.But don't become so enamored with Cramer's forceful style that you stop thinking for yourself.Take his advice - learn from his experience - put it into practice = become comfortable that you can implement it and make money from it.And then, when ready, keep your mind open to the many other investment methods and markets that exist.Each requires study and work, but if your temperament, time and dedication allow you to, you may find it even more profitable to move beyond this first step.





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Review of Financial Fiasco: How America's Infatuation with Home Ownership and Easy Money Created the Economic Crisis (Hardcover)

Having read the Swedish version of this book I have to say that it is one of the most complete and convincing books on the financial crisis that I have read.

It covers the role that both the state and the market play in this crisis.

On the behalf of the state in the form of the Federal Reserve pumping out liquidity at an incredibly low interest rate as well as in the form of the failed mortgage institutes Fannie Mae and Freddie Mac issuing loans to people with doubtful payment ability.

And on the behalf of the market in the form of the investmenk banks such as Bear Sterns, Lehman Brothers and Merrill Lynch in investing tremendous sums of money in complex products based on these mortgages that turned foul.

The book argues that it is the short-termism of both the politicians as well as that of the investment bankers that have played a major role in creating this crisis. It also argues that many of the actions implemented by american politicians to save the banks are short-term, have a rather small effect on the economy, costs a lot of money and send the wrong signals to investors in the future.

The book covers a lot more than what I have been able to summarize here, and feel free to add further information on this book, but all in all it is an entertaining and enlightening read that I advice everyone wanting to understand this financial crisis to read.



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