Review of Your Employee Stock Options (Hardcover)

This is a book that will really help people, including my clients, decide what to do with their stock options. It is easy to read with excellent examples and very valuable tools.It does an excellent job explaing the intricacies of employee stock options without overwhelming the reader with technical jargon and tax laws. Being able to use the web site is amajor advantage.



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Review of A Term at the Fed: An Insider's View (Hardcover)

There is no question that the Federal Reserve Board (the Fed) is the world's most powerful institution, even stronger than the United States military. The members of the board understand this power, and follow an effective code of secrecy concerning their plans. However, representatives of the board are regularly required to speak in public, even testify before Congress. Therefore, Alan Greenspan, the chairman of the Fed, has raised the art of obfuscation to a level never seen before. I have watched tapes of him testifying before Congress and have never been exactly sure what he is saying. Apparently, this trait is so ingrained in him that when he proposed marriage, his wife wasn't exactly sure what he was talking about.
Laurence H. Meyer served a term at the Fed from 1996 until the end of January, 2002. Therefore, he was there during the incredible boom of the late nineties and the economic downturn of the early years of the twenty-first century. This enormous contrast in economic performance means that the debate within the Fed, as related by Meyer, covers the entire range of positions.
In the early years, the debate was always about whether to raise rates, in order to stave off the possibility of inflation. During most of that time, Meyer and Greenspan were on opposite sides of the discussion. Greenspan took the position that the incorporation of new technology was causing a dramatic increase in productivity that was not reflected in the economic data. Meyer did not believe this until the data forced the conclusion.
The core of the argument was the value of NAIRU (Non-accelerating Inflation Rate of Unemployment), an economic statistic that is not universally accepted to say nothing of having ever been accurately measured. It is the level of unemployment considered the bound, where if the rate drops below the NAIRU, then employers are forced to increase wages in order to attract and retain workers. The end result will then be a strong inflationary pressure. It was very illuminating to read Meyer's account of the discussions inside the Fed regarding whether this "mythical" value had indeed been reached. Those discussions reveal a great deal of what actually goes on inside the Fed and how so much of their work is on the order of reading the tea leaves. While the consequences of their actions are very practical and dynamic, it also shows that the governors are sometimes forced to rely on unproven economic theories to make their decisions.
The last years of Meyer's term were spent in cutting interest rates, as the economy began to enter a deep slide. In this case, the discussions were completely different, with the theory now being based on deflationary models. Deflation is what occurred in the depression of the thirties and in Japan in the nineties. Prices begin dropping, leading to purchasing being delayed, hoping for a better price. If a feedback loop begins, it can be disastrous, considered even worse than inflation. The governors of the Fed became concerned about that possibility, and the arguments were now over how much to cut interest rates and how fast to do it.
Those who are hoping for a juicy expose of dramatic arguments or revelations about personalities will be disappointed with this book. There is very little about Alan Greenspan that was not already known and the arguments between the Fed governors are described as being quite tame. In some ways the descriptions seem too tame. Human nature and the major consequences of their actions dictate that the discussions would be carried out more passionately than Meyer describes.
I commend Meyer for his approach in writing this book. So many of the books written by former government officials are "explanations" of why they were right and so many others were wrong. They are filled with as much dirty linen as possible, without really explaining how decisions were arrived at. Meyer describes how things were done at the Fed, how it is run under Greenspan and how decisions were made. While he does criticize Greenspan, it has none of that spiteful tone that so many others use. Therefore, if you really want to know how the Fed makes the decisions that drive the world economy up or down, then this is the book to read.



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Review of Think BIG and Kick Ass in Business and Life (Hardcover)

I picked this book up while browsing at a local Borders Books recently. I actually chuckled as I began turning pages and skimming through the table of contents and the first few pages.

Soon, I found myself sitting down - the book still in my hands. Next thing I know, I'm at the checkout paying for it. What happened??

Trump is an egotistical, self-serving man, no doubt. But let's be totally objective, as I was that day: good advice is good advice. And, most writers do not have the courage to dispense such advice in such raw terms as Trump does.

This book holds nothing back. Trump lays it all out on the table with blatant opinions, ideas and thoughts about those who've crossed him, helped him, etc. He tells you how you need to be (not just what you need to do - read that again!) to be successful. However - and this is the most important point of my review - there's truth to so much of what he says. It's helpful. You'll look at yourself differently. You'll gain insight, and you'll learn things about yourself that you did not previously know. You might even be vaulted to a new level based on what you read; I don't know - that depends on you, the reader, and your potential application of what Trump discusses.

I'm not a huge fan of Trump, the man, but I cannot argue with his success. Forget those who claim he was born into money; that may be true, but he continues to make headlines with regularity. His projects are everywhere; his stamp is clearly there in the real estate world.

If you like Trump, you'll love this book. If you don't care for him, and can put your personal feelings aside (he's never done anything to hurt me, so I was ok in that area!), you're in for a mind-altering , no-holds-barred, shot-in-the-arm volume of encouragement, confidence-building tenets.

This book made me want to run out of the bookstore and head right for my office to go to work (and it was Saturday afternoon). Highly Recommended!



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Review of Bull! : A History of the Boom, 1982-1999: What drove the Breakneck Market--and What Every Investor Needs to Know About Financial Cycles (Hardcover)

Beginning investors are sometimes told a few simple maxims to help them manage their portfolios.Never time the market.Buy and hold.Expect 10% annual return on stocks held for the long run (usually defined as seven to ten years).

Maggie Mahar has done a service to these investors by showing how little evidence there is to support these maxims or, at the least, how easily they can be distorted.She does this by revisiting the last boom and showing it in historical perspective.

Contrary to the conventional wisdom that most index funds will grow 10% annually so long as they are held around ten years, Mahar shows that the U.S. stock market - upon which most index funds closely track - has gone through several periods nearly twenty years long with little to no annual growth.

Contrary to the conventional wisdom that you can't time the market, Mahar says that most savvy investors - including buy-and-hold strategists such as Warren Buffett - do time their investments, and feel no compunction about getting out of a severely over-inflated market.

Mahar's history is also instructive in showing how industry leaders and government officials were complicit in allowing shoddy accounting and other questionable practices to contribute to the breakneck market.Rather than a rational market in which everyone can expect to be a winner given enough time (seven to ten years), "Bull" shows that investors must still exercise caution even when following the few simple investing guidelines that most people do not question.



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Review of Flawless Execution: Use the Techniques and Systems of America's Fighter Pilots to Perform at Your Peak and Win the Battles of the Business World (Hardcover)

Frank, practical advice with a no nonsense approach...just like you'd expect from guys that operate in a space where coming in second isn't an option.

This is a no BS look at how to improve any organization's ability to kick the competition's butt. You won't find "theoretical" discussions from a group of "academics." No charts and graphs. No fancy formulas. Just dozens of ideas that anyone with a desire to improve can implement. The "debrief" section and advice Murph provides has literally changed the way we operate in our company.

Read it...and you'll understand why the USAF is the best in the world. More importantly, you'll see how their training methods can make you better.I couldn't recommend it more highly.



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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 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 Grow Your Money!: 101 Easy Tips to Plan, Save, and Invest (Hardcover)

This is a wonderful educational book on numerous areas of personal finance.It includes topics such as:

Buying and Maintaining a Home
Profiting from a Fabulous Career
Reducing Taxes
Investing in Stocks, Bonds and Real Estate
Retirement Planning
Estate Planning and Insurance
Educating Children about Money and Personal Finance

This is the most comprehensive finance book I've read and it's easy to read with some humor thrown in here and there.The author uses numerous detailed examples to illustrate his points which really help the reader understand the ideas.The book also has a companion website where the reader can go for more information or more up-to-date information as this book ages.

This is not a book that has to be read cover-to-cover.I did that, but if you want to find topics relevant to you, the author includes an age-based checklist in the front.I also really like that the end of the book includes a checklist by month of the things you should be doing throughout the year.It makes keeping up with your finances look less daunting!

The author made it easy for me to come away from the book with my own "To-Do" list, so I definitely got something out of reading this book!I also gained some new perspectives on certain areas - for example, it's a good idea to plan for early retirement because some people plan to retire later, but end up having to retire early.(You don't want to run out of money)I think the author has good insight and great ideas and I agree with his financial strategies.

Great book for all to read!



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Review of Everybody Wants Your Money: The Straight-Talking Guide to Protecting (and Growing) the Wealth You Worked So Hard to Earn (Hardcover)

Boy, does that title ring true! I also noticed on the cover of this book the wording, "Because that hand in your pocket... isn't yours!" You and I know that everybody wants your money in one form or another. However, I discovered some new ways while reading this book that I just finished. It is Written by David W. Latko, who is the co-host for the national radio program, "Money and More". Impressively, David Latko ranks among the nation's top one percent of financial advisors. I can just imagine how 'in demand' he is. He started off in a middle class neighborhood and moved his way up by helping people.

Where do you usually turn for answers with questions regarding investing, real estate, divorce, automobiles, identity theft, and so much more? If you say your family, friends, neighbors, or your own financial advisor, then you REALLY need to read this book to make sure you are steered on the right path. Looks can be deceiving. Do your homework, starting with this book, because it is YOUR money and YOUR financial future you are looking out for. No one else has such a vested interest in your finances as you need to, except for the slime balls mentioned in this book that you have to watch out for who want your money.

David not only presents practical advice in this book. He also shares memorable stories that yank on the heartstrings and gets your blood boiling. Think you are safe from your own family members who are to inherit your money? Think again and take a look at the story examples in this book. If nothing else, you will at least be aware and prepared just in case.

This book would make great gifts for everyone in your life. What better gift can you give them than to make sure they don't make wrong financial decisions that can destroy their future? I'm going to be buying and giving this book to some of my own family and friends as gifts. I am keeping mine to refer to and share with my children when needed. This book is definitely worth it!

... Story example: Willa and Tony, a retired couple who had a horrific experience with their first financial advisor. They came into some money. They had no idea what to do to invest or what to do.

So they solicited some advice from other retired friends. One of them had received a postcard in the mail a week before, and he passed it along to Tony and Willa. It gave the name and number of a financial advisor who worked in a branch office of a major brokerage which they knew of from hearing about it on TV.

In short order, their new advisor "handled" their prosperity problem. He put them into a range of investments that Willa and Tony did not clearly understand. Then, after a month or so of frenetic activity, he stopped calling-or returning their calls.

With their frustration mounting, they mentioned their problem to a person who happened to be a client of Davids. Turns out the other advisor had locked Willa and Tony into investments that carried staggeringly large up-front commissions; others carried long-term (and expensive) surrender charges.

There was little that could be done. The couple were tied into investments that could not be changed without taking a significant financial hit, in the case of Willa and Tony, it was more than a $26,000 loss.



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Review of The Myth of the Rational Market: A History of Risk, Reward, and Delusion on Wall Street (Hardcover)

Overall, Fox has written a very good book which covers a remarkable amount of material in only 322 pages. The problem is that this book, if properly done, should run around 600+ pages. Granted, Fox is a journalist, not an academic, so his audience might not have an appetite for a book that takes a month to read, but the topic is interesting and important enough to warrant a more detailed discussion.

Fox's book is organized primarily by ideas and then chronologically. This can lead to jarring jumps between time periods within chapters and the reader suspects that important topics are being missed. The twelve-page epilogue for example begins in 1833 and is in the 1960's by the turn of the page.

The mathematics discussed in the book is not terribly complicated but the reader is given no formulas, no graphs, no applications of the quantitative theories. Yes, everyone knows what normal distribution looks like but the power laws discussed deserve a chart. Mandelbrot's fractal theories need a diagram. Fox would also support his argument more strongly if he included the formulas which were eventually altered by the behavioralists. Without these, the reader is forced to blindly trust what Fox is telling him.

Despite these minor criticisms, the book is definitely worth reading. I am guessing that the title attracts many readers who hope financial-economics moves beyond the Chicago School efficient-markets framework. If this is what readers want, I recommend Beinhocker's "The Origin of Wealth." If you want a quick tour of academic financial thought, read Fox.



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Review of House Poor: Pumped Up Prices, Rising Rates, and Mortgages on Steroids: How to Survive the Coming Housing Crisis (Hardcover)

I am now in the process of buying my 7th house in 25 years.If I had known much earlier some of the things I now know from having read "House Poor," I would have avoided mistakes, saved money, and come out ahead.

The book offers solid, well supported advice about home ownership in 21st century America.The advice is practical, clear, and up-to-date.It reads quickly--in part because of the numerous examples of home buyers and sellers from around the nation--but unlike many such books, it seamlessly integrates a large volume of data from authoritative sources to support conclusions and recommendations.I found especially useful the discussion of the dizzying array of mortgage options now being pushed at consumers. And I found reassuring the distinctions made among the various markets around the US--reassuring because I live in the Midwest where the real estate market is heated but not super-heated.

Fletcher writes with an engaging and fluid style, moves logically from one topic to another, and delivers the kind of information that both first-time and veteran home owners will find valuable.

Product Description

The housing market, like any other investment, has always had its ups and downs. But ever since it started its upswing at the beginning of this decade, the ride has become more thrilling-and more dangerous. One day, home values are skyrocketing and cheap money is up for grabs; the next day, houses linger on the market and interest rates rise alarmingly high. Home buyers and sellers are beginning to recognize that however the market moves where they live, they must be prepared to make smart housing decisions.

Written by veteran real estate reporter June Fletcher, House Poor teaches you everything you need to know to weather the ups and downs of the housing market, including:

• How to tell whether your hometown is likely to boom or bust
• When to take equity out of your house
• How to buy as a first-time home owner or as an investor during turbulent times
• How to protect your home investment
• When and how to sell your home

Today's volatile housing market could make you house poor.

This book will keep you house proud.

--This text refers to the Paperback edition.



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