5 comments about The Little Book of Common Sense Investing: The Only Way to Guarantee Your Fair Share of Stock Market Returns (Little Books. Big Profits).

1. To anyone even remotely serious about investing, this book is MUST reading. Simple to understand and very clear in its message-most folks are on the losing end of their stock investments. Very clearly Bogle makes the case for inexpensive index funds which mathematically have proven very solid returns while minimizing the tax impact, advisor fees and trading fees that every investor faces. By following his straight-forward advice, virtually anyone can overcome the failures of the vast majority of investors and ill-advice of most brokers/planners and reap solid rewards.



2. This is an excellent book for any investor. The straight common sense advice that this book provides will help everyone with their investment portfolios. The best quote from the book is "the miracle of compounding interest is overwhelmed by the tyranny of cost". Through index funds, the author explains how to cut costs and caption the return of the entire stock market. This is an excellent book.



3. Bogle presents his theory on investment and the evidence gathered over the years which backs it up. The theory is simple - own the whole market by buying index funds, OR be prepared to do a ton of in-depth research just like a full time investment advisor. He backs up this "bi-polar" recommendation through the evidence gathered on where casual investors loose out, such as market timing, advisor fees, etc.
   
   As interesting as Bogle's research is, it gets pretty tiring listening to him toot his own horn. Minus one star.
   
   Also, I would recommend borrowing / renting this book (or the audio CD). Once you understand why index funds are "the choice" for the casual investor, the book really doesn't offer any other detailed advice or re-read appeal. Your next stop should be a book such as Jane Bryan Quinn's "Smart and Simple Financial Strategies for Busy People."



4. I rec'd the book safely, in good condition, but haven't yet had a chance to read it.



5. I'm 29-going-on-30 and wishing that I had absorbed the wisdom imparted in this book when I first signed up for a 401k. But here I am, seven years later, finally having a real understanding of where I should stash my retirement nest egg.
   
   The premise behind this book is simple - index funds have proven to be the wisest vehicle to throw your money in to achieve long-term profits. Bogle does an excellent job of explaining why this is, utilizing the "humble arithmetic" behind his thesis. For those who are like my old self and unsure of the best way to invest your retirement savings, look into low-cost index funds. And don't just throw your money in there...purchase this book and understand WHY you should.

5 comments about Fooled by Randomness: The Hidden Role of Chance in Life and in the Markets.

1. This everyman's introduction to randomness should prove interesting to everyone who invests for profit, fun or retirement. The narrative style conveys the author's point that random spikes or troughs can occur in any investment without warning and that the oft used normal curve does not necessarily model the behavior of investments. It's sort of like saying that the normal wind speed is an accurate model for what could happen in tornado alley on a specific day in the summer.
   
   That being said, there's little guidance for the investor about ameliorating the effects of "black swan" events; the best one can do is expect them and try to avoid being over-extended in yesterday's hot investment when the bottom falls out.



2. i find it fascinating the diverse reviews this book has received, it seems to have a polarizing effect on readers! for me the book was engrossing, but admittedly i am a fan of taleb's writing and philosophy of life. while he is clearly not concerned with journalistic rules he is able to communicate his point. so what if his sentence structure is not perfect. what i appreciate most about his works, fooled by randomness included is that they caused me to think, and rethink my own beliefs and perceptions about life. i felt challenged by the content and relished the opportunity to ponder paragraphs. this is the strength of his writing (in my humble estimation) to cause the reader to think. a worthy read even if you are prone to focus on the impossibly difficult particulars of writing in the english language...



3. Well, what can I say? The concept of "black swamp" function is very original and as a professional investor, I appreciate the author's insight into this critical concept to long term return. However, the whole book is about this concept and I don't learn anything new after finishing the first few chapters. Moreover, the author is a trader rather than a writer which probably explain his less-than-perfect reading style. Readers have to be prepared for his "non-linear" logic and could be very confusing at times.



4. PROS:
   * The book argues an important message (that we underestimate the role of luck in our results/outcome).
   * A few interesting anecdotes.
   
   CONS:
   * Although the author is self-deprecating at times, it smells more of false modesty rather than geniune humility (which he argues everyone should have). Most of the time (as other reviewers have noted) his arrogance comes out loud and clear, and that's annoying.
   * Disjointed style of writing. He rambles, jumps around, and writes in awkward sentences. The writing doesn't flow easily.
   * Disorganized. He proclaims that he doesn't like to use headers that tell the reader much about what is coming up. For non-fiction books, I prefer clarity, rather than cuteness.
   
   CONCLUSION: There are brief moments of brilliance and lucidness, brief moments when you think the book is really going to be worth reading, and then it quickly vanishes. Unfortunately, it's also a hard book to skim. I don't recommend it.



5. Many concepts in "Fooled by Randomness" can be mentally applied to many areas and circumstances of our lives. This book has a lot of variety both past and present that can help us in the future in how we *think* about things, our environment, and more importantly, ourselves. This review will take a different path because there have been so many written about this book already.
   
   Author Nassim Taleb believes that Randomness and luck is more of a factor regarding people's positions and successes than most folks realize. In politics, business, economics, and a other fields and areas.
   
   We often too quickly make the assumption that because of someone's superb and/or superior circumstances that these superior results are exclusively because of his/her smart mind, brilliant decisions, actions, and skills. Surely they must know something we don't? This isn't always the case. Sometimes it is, but not always. More often than we might think, it isn't. I see the author's repeated points that we as humans, underestimate the odds and occurrences of Randomness. But I do think diligence, planning, and acumen are also highly prevalent in many successful things we do, in life. It you're good, you'll do better than someone who isn't, in anything. Common sense is a critical factor, too. Our choices also obviously affect what happens to us, in what we passively receive.
   
   All of us can recall times when we were given credit for something that was in all honestly, more the result of fortuity than our own doing. Do we often openly admit it? :) I do believe, that most of one's achievements is because of hard work, skill, planning, and yes luck. But for some of us, in certain situations, luck is the key reason, and there's nothing wrong with this. Those of us that have been the beneficiaries of luck should enjoy it, use it to our advantage, and perhaps most importantly, realize that we've received it.
   
   Within the first couple of pages a detailed description lures the reader: the quick-topping Ferrari, screeching to a halt. Underlings immediately jump, scramble, and run to park the car as its owner vacates and bolts to the Trading Floor. Being a former trader, there attention paid to the trading world in FBR (Fooled by Randomness).
   
   One of the many real-life examples and anecdotes Nassim Taleb noted was the topsy-turvy rise and crash of individuals in the world of Bond Trading: A Bond Trader named "Nemo" was envious of his 'more successful' Chicago neighbor "John the high-Yield trader," who lived right across the street. Nemo had a 14 year track record of solid returns based on careful assessments of risk. Nemo was a long-term survivor of the Bond World and had a solid personal financial base he'd built up for him and his family. Across the street, John was boorish, loud, show-offy. He loved to flaunt his toys. His wife was arrogant, and pseudo-high society. John's luck - his stint with randomness eventually ended, and he crashed. Karma....
   
   Over the years as we get older we observe our circumstances, our environment, our peers, and our peers' circumstances in relation to *ourselves.* In the chapter, "If you're so rich why aren't you so smart?" we see the randomness of the social pecking order.
   
   The world has many one hit wonders in politics, business, music, film, etc. And when the Random opportunity or luck of the one-hit wonder appears, people should take advantage of it. (If, they can recognize it.) Because if it's luck or randomness, it won't last forever.
   
   
   Only a few times (not often) throughout this book, I had to re-read or re-scan a sentence or group of sentences to get the point Taleb was making. But the writing is good enough, to the point, and succinct. Readers should note the author is not a native English speaker and being a Mathematician, the author is likely left-brained. So readers, go easy. I do believe however, this book is decently written.
   
   Taleb lists some of the common traits listed of people who are the beneficiaries of Randomness but don't realize it. Instead, they think their situation is the result of mostly themselves, their decision-making, and actions.
   
   The Confusion Index:
   
   The Confusion Index has several terms for people who assume results are because of "vision," "excellent strategy," and "brilliance." This is often the interpretation of past results. It's pretty easy to interpret past results, isn't it? It's easy to be a Monday Morning Quarterback. This is called "Hindsight Bias." Have you ever heard "It was so obvious" after the fact? Things appear more predictable after the fact. Some concepts below in the index:
   
   Luck vs. Skills
   Randomness vs. Determinism
   Probability vs. Certainly
   Belief, Conjecture vs. Knowledge, Certitude
   Theory vs. Reality
   Anecdote, Coincidence vs. Causality, Law
   Forecast vs. Prophecy
   
   My Favorite Chapter: If you're so smart why aren't you rich?
   
   Some of the many great chapters and sub-chapters:
   
   Gamblers' ticks & pigeons in a Box
   You should be dead by now
   Placebo Investors
   The rare-eve fallacy: the mother of all deceptions
   Survivorship Bias (one of my favorite sub-chapters)
   
   Don't be fooled. This is....a great book.

5 comments about Fooling Some of the People All of the Time: A Long Short Story.

1. This is a complex story of hedge fund manager, David Einhorn, vs Allied Capital. Mr Einhorn wants corporate accounting transparency; Allied wants good quarterly numbers. The rules keep changing. The SEC looks the other way. How well the company is doing depends on who you ask.
   It takes a clear head to follow the details of Allied's accounting but you get the point. Reading about the Detroit area operations of one of Allied's investments, BLX (Business Loans Express), sounds like a Nigerian scam. The reader wonders why no stock analyst or government agency notices this or even cares when it is brought to their attention. This isn't Nigeria, this is happening in the USA. Luckily Mr. Einhorn is persistent and hopefully for investors he will keep it up.



2. Overview:
   David Einhorn, founder of a successful Wall Street hedge fund, has written a book which describes the controversy surrounding David's hedge fund selling short Allied Capital. While David makes some very damning points about Allied's management, he does not prove his central thesis, namely that Allied engaged in fraud. Despite this flaw, the book is still a worthwhile read.
   
   Background
   David's conclusion about ALD were based on his previous experience shorting Sirrom, a company that *was* a fraud and subsequently went bankrupt. Sirrom was in the same industry as Allied, namely loans to small businesses. David concluded that ALD must be a fruad since they, like Sirrom, did not write down the value of troubled assets in a timely manner and management was less than truthful when confronted with this fact (pg. 52). Referring to ALD's managers, David writes "people who are willing to lie about small things have no problem lying about big things" (pg. 64). The rest of the book, almost 300 pages, is David's attempt, unsuccessful in my estimation, to substantiate this claim.
   
   Why "Fooling..." is Worth Reading
   Despite the fundamental flaw of stating a thesis that he then fails to substantiate, "Fooling..." is still a worthwhile read for four reasons:
   1) David has made a lot of money, and his investment methodology is explained in detail. This is unique, and worthy of serious study.
   2) The book documents the inability of regulatory authorities to protect investors from dishonest management practices. Very sobering. Allied did engage in a number of unauthorized accounting practices that victimized it's investors, and none of it's managers were ever punished. In fact, they got rich at their investors expense.
   3) It shows that even superstar investors are human. On display is how a very rich man's obsession with proving he is right drove him to stick with a losing position, pouring time and resources into what became a personal crusade. I have made this mistake on a much smaller scale, and I imagine most investors have. Obviously, the book did not intend to teach this lesson, but there it is.
   4) Allieds is a "Business Development Corporations" (BDC), and the book explains how BDCs operate and make their money. David opines that BDCs are similar to junk bond funds, but are riskier (pg. 48). BDCs in general are very lucrative and pay high distributions when the USA economy is doing well, and tend to lose a lot of money during a recession. There is a lot of info here that investors can put to work.
   
   Synopsis of Events:
   David Einhorn, who is about as successful as a man can be on Wall Street without being Warren Buffet, concluded that Allied Capital is a fraud. He invested almost 8% of his hedge fund selling ALD short (he profits if ALD goes down, loses if it goes up). He then proceeded to try to get regulatory authorities, including the SEC and Eliot Spitzer (at the time the NY Attorney General) to investigate improper practices at Allied. For his efforts, he got investigated himself by these authorities. He recently published "Fooling Some of the People All of the Time" to prove he is right, and the rest of the world (SEC, financial press, investors, the stock market) are all wrong. David calls ALD a "ponzi scheme" (pg. 330), continually raising new capital to pay the dividend. While this claim should be easy to substantiate, no evidence or proof of any kind is offered. David predicts that eventually, ALD's fraudulent practices will cause the demise of the company. When the book was published, despite 6 years of intense effort on David's part to expose ALD, he lost money on his position (when you factor in dividends which he had to pay having shorted the stock).
   
   Epilogue
   Today, 8 years after his accusation were first made, ALD is still in business. While it's stock price has under-performed the market, when you factor in the dividends (actually tax distributions) it has been a pretty decent investment. It is hard to imagine how a company that systematically defrauded it's investors could survive 8 years of constant hostile scrutiny from a smart and rich hedge fund, paying hefty dividends the whole time. If it was a ponzy scheme, it should have imploded years ago. As far as I am concerned, this fact, combined with David's lack of hard evidence, disproves his thesis.



3. This is brief history of the dispute between David Einhorn, founder of Greenlight Capital, and Allied Capital (stock ticker ALD). Mr. Einhorn details his research into ALD that culminated in a speech he gave at a charity event. Since the speech ALD has been attacking not just Einhorn, but everyone and anyone who has said anything bad concerning their company.
   
   Mr. Einhorn details the lack of inquisitiveness on the part of the financial reporters and stock analysts who gave, and most who continue to give, ALD passing grades without a serious look into the financials. He also tells of the lack of responsiveness from the federal government to stop BLX (Business Loan Express, a company owned by ALD) from bilking the taxpayers out of hundreds of millions of dollars in bad (fraudulent) loans. And for all of his effort Mr. Einhorn was repaid with personal attacks. Since I started reading this I have looked into this a bit and I have not been able to find a single credible source to discredit what Mr. Einhorn has said about ALD. Despite what some may believe blogs and online forums are not credible sources, they are just opinions thrown out for the masses to read.
   
   I found this to be an excellent book. However, I would not suggest buying it for the explicit purpose of getting some investing insights into the market. That is not the intention of this book.



4. Great book.
   Einhorn does an excellent job of laying out his bear case on ALD which, after having read the book, completely stuns me to know that this company is still a going concern. It's unfortunate to see just how biased our regulatory infrastructure is and the institutional bullishness that permeates every aspect of our capital markets is a sad development.
   Fooling some of the people all of the time is a good book and a fascinating read. I was amazed at some of the things Mr. Einhorn had to endure just because he dare speak his mind and back up his assertions with cold hard facts. This book affirmed many things that I've known about our capital markets, and many of those things are not pretty.



5. I picked this book up as a light summer scandal read and it turned out to be anything but. This is a tremendous book. As someone with limited knowledge of the world of investing, I was a bit behind the curve in muddling my way through what is a very complicated story told using the language of the world of finance, but the author took the time to explain the concepts he used throughout and I learned an incredible amount from this case study. I imagine it will be one used in many academic Business/Finance classes. The best part of the book is that it paints a very vivid picture of life on the "inside" of the world of finance to a broad audience that typically is limited only to an outside perspective. However, the story is quite unsettling as it presents a scenario where the system (SEC, the media, Department of Justice, etc...) fails to protect investors and taxpayers and instead looks the other way while politically well-connected corporate bigwigs work the system and amass millions in part by defrauding said investors and taxpayers. I came away from the story depressed and appalled but ultimately with a better understanding of some of the reasons the country is likely facing the mess we are today. Are you a taxpayer? Do you have a bank account, an IRA a 401K or plan to fund part or all of your retirement through some sort of investment? If so, you will benefit from reading this book. Bottom line, it's not an easy or pleasant read, but it's a must read. Think of it as a good investment. :)

5 comments about The Smartest Investment Book You'll Ever Read: The Simple, Stress-Free Way to Reach Your Investment Goals.

1. I don't think I've ever read a simpler book on investing. I think I finished it in two hours or less, and though it obviously lacks a lot of detail, I can't say there's anything really important that was left out.
   
   Solin spends a lot of time describing investment traps to avoid, such as active management and other, high-cost strategies. Then he spends a very few pages describing a very simple way to construct a diversified, low-cost portfolio of mutual funds. He suggests specific allocations in just a handful of specific funds in specific fund families for specific types of investors. Literally, all you have to do is pick which kind of investor you are and then just follow the allocations Solin suggests. Rebalance once or twice a year, and you're set. Even my sister could do it in 30 minutes or less per year.
   
   It may be hard for people to believe that such a simple strategy could work, but decades of research show that a simple, low-cost, diversified portfolio outperforms the vast majority of actively managed funds, and with relatively little risk.
   
   The advice to "Keep it simple, stupid!" was never so appropriate.
   
   I highly recommend this book.



2. I absolutely enjoyed listening to it. It was a little bit boring in the beginning but at the end Don Solin gives you advise what to do. I will take his advise once I have some money saved up and invest it to see if it works! I sure it does!



3. The Smartest Investment Book You'll Ever Read (Unabridged)This book is for certain investors who do not want to
   be daily envolved in investing.It is easily understood and can have
   real meaning for that group of people



4. Most financial books are more complicated than Japanese arithmetic. This is actually understandable and the advice is rock-solid. If you have only one book on investing this should be it.



5. Sometimes the simple approach turns out to be the tactic offering the most beneficial results, and as Solin describes in this book, that is certainly the case with long term investing. Unfortunately, Solin's book, also simple in its approach, does not have the luxury of this principle.
   
   This book does not present any profound strategies or anything that will offer you advice regarding short terms gains. Solin spends the full length of this book explaining in detail why hyperactive brokering does not work and why indexing is the proper advice for long-term growth and returns. Although the advice in this book could be easily condensed, this is not to say Solin is long winded; he merely spends a lot of time on the details of why managed funds are generally inferior.
   
   The advice is sound and well described; however, the material in the book merely regurgitates a common and well known theme in investing; the vast majority of managed funds statistically do far worse than indexed funds over the long term. I would imagine the book would be worthwhile to anyone brand new to investing, but considering the title, this book is far too thin to come remotely close to being the smartest investment book available.

5 comments about Chain of Blame: How Wall Street Caused the Mortgage and Credit Crisis.

1. Whether you agree with the authors' conclusions or not, you cannot really understand how we got into our current financial crisis without reading this book.



2. A new book documents the house of financial cards that continues to come tumbling down all around us in the mortgage and real estate industries.
   Chain of Blame, co-authored by Paul Muolo and Orange County Register reporter Matthew Padilla, offers a comprehensive view of the mortgage debacle but concentrates on the subprime lenders and their Wall Street allies (and in some cases, owners) who pooled and packaged subprime loans into securities without due care for credit quality, greedily booking billions in fees while hoping that real estate prices would accelerate upwards forever to make up for their lack of underwriting.
   The book's analysis of the mortgage mess shows how the contagion didn't just halt at our own borders, like the savings and loan scandal of a generation ago did, but flared up worldwide through the overseas sale of poorly-understood and poorly-underwritten collateralized debt obligations containing the worst tranches of a bad book of business.
   Chain of Blame also lucidly points out how the creative financing of many lenders, which led to an over-reliance on interest-only and payment-option mortgages, fed the superheated real estate market by putting thousands of new borrowers into the market, creating a demand that sent RE prices zooming to unsustainable increases of up to 33% a year in some markets.



3. I started reading Chain of Blame in mid-July 2008, which makes it among close to ten books on the broader subject so far on my night table. Muolo and Padilla are superb investigative reporters, and have a wonderful way of bringing both the story and characters to life. After reading chapter one, I only have this to say about Angelo Mozilo (to borrow a colorful descriptive phrase Mozilo was fond of using): "Angelo did not know what the "F" he was doing or talking about when it came to managing Countrywide." A wonderfully written opening chapter, two thumbs way up.



4. The authors of this book present a detailed study of the nexus that existed between the unregulated(the Securities and Exchange Commission(SEC)hasn't been doing its regulatory job ever since Bill Casey left) Wall Street investment banks(Bear Stearns,Merrill Lynch,Morgan Stanley,Goldman Sachs,Lehman Brothers,Credit Suisse,Deutsche bank,etc.),commercial banks(Free market believers Alan Greenspan and Ben Bernanke,Milton Friedman's best student,were supposed to be regulating the commercial bankers when they were chairman of the Federal Reserve Board.They were doing nothing of the sort because they believed that the financial markets would regulate themselves)like Wachovia and Bank of America,Savings and Loans like Washington Mutual,mortgage brokers, bond rating agencies, underwriters ,and mortgage lenders like Mozilo's Countrywide, were able to peddle some 6 trillion dollars worth of highly speculative and extremely risky bonds backed by sub prime mortgages all over the globe .It provides another view into this problem that is similar to the very recent books by Morris(The Trillion Dollar Meltdown)and Phillips
   (Bad Money).Warren Brussee's 2004 book,though mistitled,is the first full scale treatment of the sub prime loan problem.
   I have deducted 1 star because the authors do not provide any historical overview that would enable the reader to see that this problem is a systemic one that repeatedly occurs over and over again throughout history whenever financial ,short run, profit maximizing(sales maximizing)companies are allowed to engage in speculative activity that is financed by the banks themselves.It is the private ,profit maximizing commercial banking system that supplies the loans that enable operators like Mozilo to leverage their debt position in the financial markets and create bubbles.These bubbles are then pumped up and inflated by the banks.This leads to manias(crowd and herd cascading impacts),panics,crashes,and recessions,as well as inflation and/or stagflation.
   
   Adam Smith warned about this in his The Wealth of Nations(1776;see pp.339-340 of The Modern Library(Cannan)edition for Smith's conclusions.His entire discuusion of banking on pp.250-340 is the best ever written).The purpose of an independent central bank is to PREVENT the private commercial bankers from making loans to projectors(the speculators and rentiers of Keynes's General Theory(1936)) ,imprudent risk takers,and prodigals.Loans are to be made only to the sober people who will use the loans to create businesses and jobs,as opposed to speculation and bubbles that must eventually collapse, creating great social costs for society as a whole.
   
   An entire stealth banking system has come into existence over the last 30 years since Jimmy Carter started his ill advised deregulation and privatization policies of the financial system.These policies were speeded up during the Reagan -Bush administration .This book exposes what the inevitable result of such a deregulated financial system ends up requiring-massive tax payer bailouts and/or special loans made available to speculator bankers at very low rates of interest .



5. This is excellent investigative reporting! And it reads like a thriller. It would be easy to blame it all on the unqualified homebuyer for taking on debt they could not afford. But everyone is to blame: The loan broker who cons the homebuyer and earns fees in the process. The lenders not doing their due diligence and making a profit anyway. The warehouser selling substandard loans as bonds to Wall Street and oversees companies and paying themselves hundreds of millions of dollars. And the biggest blame goes to: those who deregulated the industry. Because when the cards fall, who loses the most? Taxpayers and the middle and lower classes. Muolo and Padilla do an excellent job of presenting the real people behind the foolish decisions that created this financial mess.

5 comments about Jim Cramer's Stay Mad for Life: Get Rich, Stay Rich (Make Your Kids Even Richer).

1. I brought this book for my Husband and myself because we are interested in doing stocks online. We really like it because it's easy to read and to understand.



2. In Stay Mad For Life Cramer teaches you all the basics you need to plan for the future and how to be prepared for retirement. However, this book will not help you learn how to trade stocks. For more information specifically on this topic refer to his other books.



3. This is a great book for new investors. It covers a lot of information and it's very useful!!! Save yourselves now from financial failure in the future.



4. This book is a rehash of what was discussed in his older material so far (Jim Cramer's Real Money: Sane Investing in an Insane World and Jim Cramer's Mad Money: Watch TV, Get Rich)
   I was given the physical copy of this book and am having it read to me via the software set ups described in Don't Like to Read, Then Don't, Listen!: How to Turn Any Type of Text Into Audio Files That Can Be Read to You!. This is an easy way to turn a physical book into an audio book.



5. Stay Mad For Life is a great financial education experience. This book covers many issues that are never discussed with most people. I wasn't familiar with the different types of disability insurance, and I didn't know the best way to take advantage of retirement plans. However, the first part of the book did seem repetitive about some points, and I did find the last four chapters much more interesting. But, since nothing in the first half of the book is mentioned to students in high school or college, I think it is important information as well.
   
   I enjoyed the way Cramer presented his twenty stocks of the future. I thought it was fun and clever, almost like he was on the Price is Right and was presenting a showcase. Additionally, since I don't do very much homework, I was glad that he presented mutual funds and other investment ideas that he recommends for people who don't have time to pick individual stocks. That is what I like about his novels, he tells how to do something, rather than what he has already done. I found this novel very helpful, if less interesting than his previous novels.

5 comments about The Neatest Little Guide to Stock Market Investing.

1. Before I bought this book, I was investing in various different stocks and ETFs I heard about from other people. I heard about the whole 10-11% historic return of the S&P 500 and put most of my money into SPY. I also took some advice from the so called pundits and ended up losing a bit of money from that. I didn't have much of a strategy other than buying index funds and stocks that other people told me would be great buys.
   
   That has changed after reading this book.
   In the beginning, Jason defines a lot of stock market terms that I was already mostly familiar with so that was review material.
   
   Then he goes over the strategies of history's most successful investors, and that was quite interesting. They share a lot of common strategies, and it's good to know that there's no magic bullet. Good portfolios are built off solid fundamentals and investing in all around money making companies.
   
   The most helpful part of the book was the section on building the list of stocks that make up your watch list. I pulled up a spreadsheet and entered in all the stocks I thought were strong along with a few I heard from other people and by looking at the numbers, I could see that some stocks were obviously better than others. I now have facts for choosing what to invest in rather than trusting what other people say. In addition, I've made some stock choices recently that have paid off because these companies continue to report solid growth and earnings.
   
   I would recommend this book to anyone who doesn't have an investing strategy. For anyone who feels lost in the wild fluctuations of the market, this book will give you a solid foundation for building a strong portfolio that you'll be proud to own.



2. Excellent for beginners. But it does not provide in details how to read financial reports and detect frauds. Along with this author needs to add detailed calculations of real life examples by comparing two well known financial results (e.g. Mcdonald vs burgerking or coke vs pepsi)



3. I don't understand the rave about this book. Unless one is a total novice, this book is a waste of time.



4. What I liked best about Mr. Kelly's book was the accessibility of the text. It seems that in order to have an understanding of stocks and the stock market there are quite of few technical terms that need to be learned. Mr. Kelly introduces those terms with ease and elaborates on particular function to weave a coherent story that was easy to follow.
   
   I have no background in business and would not consider myself business savvy at all. This text easily kept my attention and was quite inviting. I have already persuaded my friends to buy this book as well.



5. Mr. Kelly has done a remarkable job in writing a book that is an equally interesting read to novice as well as experienced investors. Beginning investors will find a thorough and concise method for creating a stock market portfolio as well as wonderful explanations and tools for fundamental research of companies. More seasoned investors will find a very neat chapter that summarizes the key points of investing strategies of such famous people as Buffet, Miller and Linch. This wonderful book is a must have companion in any serious investor's library.

5 comments about The Intelligent Investor: The Definitive Book on Value Investing. A Book of Practical Counsel (Revised Edition).

1. This book has some great chapters that can be used to create a good stock screen to purchase value stocks. One point in this book that I found very valuable is this: No matter if you are in a bull market or not always keep at least 30% of your funds in cash or bonds. This at least saves some of your cash if the market turns around and heads lower. Think of the Nov 2007 to March 2008 downturn. Many people fully invested in at least stock founds in 401ks (that did not sell) lost up to 20%. How long will it take the old "buy and hold" to recover from that?
   
   [...]



2. I have been reading the intelligent investor for a couple of days now and just finished chapter 4. The book can seem a bit long but it is not. The arguments are easy to understand and comprehend. Graham argues that investment, as great as it could be, also contains significant risks and for long periods of times have not outperformed bonds when considering inflation. He thinks every intelligent person should have no more that 75% in equities in best of times and should have up to 75% in bonds in bad times. It is definitely a book worth reading not only because he reaches sensible conclusions and warns you not to blindly follow pundits but simply because it gives you overview on market performance by analyzing the historical data that should be mandatory knowledge for everyone serious about investing.



3. Having being for some time a small investor with mixed results I was trying to learn more about the dynamics of the stock market. Benjamim Graham makes an excellent case for value investing which distinguishes true investors from speculators. It is as actual today (if not more then) as it was first written several decades ago. If you only read one book about stocks, be sure you pick this one. Highly recommended!



4. Whether you are an investor or speculator, this book provides more detailed information than any book I have read. To get the most from this book, one must be willing to devote time to absorb what the author is writing about. As it is a rather large book, it is easy to put aside; however if one is serious about the "market" the vital information is available in this book. I firmly believe if one will read and understand this information, your financial program will benefit. Sam Harris



5. Simple like that: if you are a layman investor and don't want to lose a dime, stop your investment actions right now and start reading this book immediately.
   
   I've started composing my stock portfolio a couple of months, before reading this book. At that time, I didn't know any of the Graham's wise lessons and took many decisions, some Graham-complying ones and some not. After six months, all bets on companies in a strong financial position, with a dividend payment history of more than 20 years, offering shares with a discount as consequence of the market fluctuation, and so on, proved to be right, even during crisis time.
   
   A must read book for anyone aspiring to be a fraction of what a true investor is.

5 comments about Rich Dad, Poor Dad: What the Rich Teach Their Kids About Money--That the Poor and Middle Class Do Not!.

1. Rich Dad Poor Dad became a best seller as a result of either introducing or reminding the masses of basic financial principals. The storyline is presented in a manner describing this advice from both a successful father figure with little schooling but ample street smarts, and a less successful father with an abundance of education but little financial sense. Given that only a small sector of society generally finds interest among dry financial books, the writing style undoubtedly also had a lot of influence on the success of this book.
   
   Kiyosaki provides an adequate overview of assets versus liabilities and in depth explanation as to why assets with earning capacity are true assets while others that cost money to sustain (such as your home) are not. However, the message could have been given proper justice in a brief essay as opposed to a best selling book. The principle at heart, while true to the bone, is nothing more than what one would arrive at with a simple understanding of bookkeeping and common sense. Kiyosaki provides a lot of cliché with a story about his two Dads to attempt to add depth to the book, but otherwise the book provides little insight except perhaps to those with limited financial aptitude.
   
   Kiyosaki is certainly a master marketer and undoubtedly made millions by marketing his books, so perhaps if there is a silver lining to the book it is that one might discover the genius behind how to market a book by reading Kiyosaki. Otherwise, look to the cliff notes on this book and save your time and money for a book that offers a more comprehensive study on finance.



2. The book has some great ideas, but I get the mental image of a late night infomertial. The basic storyline of the book is a bit far fetched, but there are plenty of ideas about finances and investing to get you thinking.



3. Worth the money for the authors approach about assets and liabilities. His personal story is not very interesting but I like the way he focuses on different types of income. Do not expect a lot of detailed information since most of his "examples" are BS. His wife needed a new car so she just went out and found a property that would give her $500/month cash flow with no money down. Yeah right. All said and done though this book will motivate you and help keep your head in the right mind-frame.
   
   Do not bother buying ANY of the other Rich Dad, Poor Dad books, they are only a re-hash of the information in this one.



4. ... take the definitions of both an ASSET and a LIABILITY.
   
   I read this book the first month it came out when I was a floating on a raft at the Hyatt in Kauai and I was so taken with it, I finished it and reread it a 2nd time. And I was on vacation. The entertaining style of it held my interest. What most held my interest though was his explanations of ASSETS and LIABILITIES. Gosh you know, all my life I was taught to believe my house was an ASSET. Well it is an ASSET - to the bank that holds the mortgage. To me it is a LIABILITY and a Money Pit.
   
   Now it is nice to have a place to sleep at night and it's all mine! I can paint the walls any color I want!! But it sure ain't an ASSET. And I have all the bills to attest to that.
   
   I do recommend the book to everyone. It really is basic accounting for your lifetime & family. Education is education and meaningful education is the name of the game. Somebody else wrote a review that if his grandparents were alive today, well, they would be dead today instead, because they would not be able to navigate the New Paradigm of 'Every Man for Himself'. He's got a point. The world IS changing, right now as you read this. This book is written for the Everyday Man and Woman. Good information to open up your brain and think about how and what you want to do to assure yourself a future.



5. I read this book several years back, and frankly remember very little of it. In a nutshell, the real lesson of the book is that the poor buy necessities (food, clothing, etc.) the middle class buy liabilities (cars, boats, etc.) while the rich buy assets (stocks, bonds, real estate).

5 comments about When Markets Collide: Investment Strategies for the Age of Global Economic Change.

1. Watch Video Here: http://www.amazon.com/review/R2EOOI374G4HBV



2. A very interesting read with great references that send you off to other geat reads.



3. I used some new software to have this book read to me via TAL, while I lifted weights in my basement. All this technology is disscused in Don't Like to Read, Then Don't, Listen!: How to Turn Any Type of Text Into Audio Files That Can Be Read to You!.
   Little to no emphasis is place on the role of the fiat money system, changes in money supply on inflation and investments. Look at the DOW in Gold, this does my talking for me. This author thinks he is an elitetist. He must really think his audience is foolish. If you are holding US dollars or equities, you have been getting destroyed. It is not a random walk, look at the charts is there a trend?



4. The style is very similar to El Erian's monthly articles, but there is nothing really new or original. If you are familiar with Bretton Woods II, have some training in economics and/or have worked in structured finance you will find this book slow at times, but if you are new to the structured finance world or you are trying to find out what went wrong with the financial system this should be an excellent overview. I agree with the other reviewers it reads like a news paper article, but it is a good overall review of the most recent economic cycle.



5. George Soros is a very interesting thinker.
   It is true (as he more or less admits in his book)
   that his philosophical ideas are somewhat "inexact"
   by the analytic standards of that profession,
   but the insights are real. He gives market equilibrium
   theorists a run for their money.