2 comments about Debt Collections: Stir-Fried or Deep-Fried?: Asian & Western Strategies to Collect More Money, Reduce Bad Debts, and Keep More Customers.

1. This is a practical "on the money" book that provides the important "how to" as well as the "why" of effective collection techniques. Steve straddles different cultures in this great book and it should be (in handy range) of every credit and collection manager who has (or hopes to have) clients in South-East Asia.



2. Why doesn't this Asian debtor pay? You have tried to get your money the old fashioned way and still the debt lingers on. Read Steve's book and get solutions. He has lived in asia many years and is a "Pro" in this field. His company has a great track record.

3 comments about The Monetary Elite Vs. Gold's Honest Discipline.

1. In this age of commercials and silicone implants, it becomes very difficult to tell the difference between fact and fiction. Of course, the one thing we can all agree on, is that money is desirable and valuable. We spend lots of energy getting it and spending it. But very few of us ever ponder its intrinsic value or its authenticity. If we were to fail the cashier's ink marker test for real money we would feel betrayed by whoever passed this damn bill off to us as the real thing.
   in his book The Monetary Elite vs. Gold's Honest Discipline, LoCascio shows how the integrtiy of our money has been tampered with. His expose is so shockingly cogent that it is a wonder that there is no outrcry against the outrages perpetraded on us all. Step by step, he exposes the powerful monetary elite. Think about it, if it's true that power corrupts and absolute power corrupts absolutely, then how would it be possible for those who have the power to create money and value not to have made choices which are favorable to them and not necessarily fair and equitable to all.
   This highly alarming but important expose though factual, reads like a real page turner. It opened my mind to something that seems so obvious once i saw it through the perspective of LoCascio's knowledge of the subject.
   He paints a convincing picture of how the monetary system is a global Ponzi scheme run by and for the benefit of the monetary elite (bankers, and the people they love to lend to) The title hints at how this works; Since the dollar's not worth its weight in gold anymore, the banking system creates new money at will, nothing stops the monetary elite from rigging the system. That's how they get more from the proverbial pie than they contribute.
   When things go wrong (Depression, recession, slow down, etc) he shows how their "fixes" address the effects rather than the causes. Using a narcotics analogy, he shows that successive needles in the arm virtually guarantee eventual collapse.
   I loved his interesting thought experiment patterened after the movie "Tading Places" where Dan Akroyd (Winthrop) the wealthy young investment banker is forced to trade places with Eddie Murphy (Valentine) the homeless guy.
   His analogy of bankers and parasites is reason enough for me to have read the book.



2. In this sequel to his excellent _Special Privilege_, which I've also reviewed, financial planner and consultant Vince LoCascio hopes to show us why returning to a gold standard would be a sound monetary policy.
   
   Originally inspired by Murray Rothbard's writings on monetary policy (particularly _The Mystery of Banking_), LoCascio has now followed up on his earlier work by more thoroughly investigating the Austrian School. In consequence he's peppered his sequel with references to e.g. Ludwig von Mises and Carl Menger. In fact, at several points (notably the definition of the 'money supply'), LoCascio now relies on specifically Austrian insights.
   
   The essential proposition here is that the jiggery-pokery currently performed by the 'monetary elite' (which LoCascio explained in _Special Privilege_ and explains here in even more depth) would be impossible in a monetary system in which the 'dollar' was defined as a certain weight of gold and banks didn't enjoy special legal protection. There's nothing magical about gold, of course; it's just one of several metals that have always emerged as media of exchange whenever free markets have been allowed to work. Strictly speaking, a properly managed paper currency would do the job just as well. But paper currency doesn't carry any powerful incentive to proper management; in terms of 'honest discipline,' gold's got it all over the fiat currency we use now.
   
   As in LoCascio's earlier book, the 'special privilege' of the banking elite under current U.S. law is sixfold: the power to create money out of thin air; special protection of assets; liability protection; bailout schemes; funny accounting; and secrecy. These privileges combine to create and protect a monetary cartel that, even when it's working 'correctly,' tends to foster heavy inflation (in 1970 this book would have listed for about one-tenth of its current price), and moreover is rife with opportunities for fraud.
   
   LoCascio's explanations of these problems are clear and lucid; moreover, his history of the fractional reserve banking system probably has some new things to offer even those who are already fairly well-read on this subject. In short, it's a well-written and well-argued book that could succeed in taking this argument to a wider audience. And since there's probably a whole new generation out there who isn't yet familiar with the gold standard and the reasons for returning to it, LoCascio's book could also be a 'gateway' to the earlier literature on this subject.
   
   (By the way, something went wrong with the page numbering in the table of contents; by the end of the book, the TOC is off by three pages. Just an FYI, and something to correct in future editions.)



3. If you want to know everything about current banking system and its inherent flaws, this is the book for you. It describes everything you want to know and need to know in order for you to protect yourself.

5 comments about The Ernst & Young Business Plan Guide.

1. This book says it all very concisely, no fluff. I've written three business plans with it. Read a chapter in the book, write a chapter of the plan. The examples are very good. I just hit $1MM in sales on my third try - I give this book a lot of credit for helping me get organized.



2. This is a great book. Simple to the point advice about developing a business plan.



3. One of the biggest mistakes that business owners make in preparing business plans is producing a "canned" finished product that diminishes their credibility. This book will go a long way to help you sidestep this pitfall. The text gives you a context for your plan; that is, it discusses what the end user is looking for. It is general enough to cover most agendas and specific enough to provide practical advice. Even though this book was published nearly 15 years ago it is not dated by changes in technology. It sticks to the time-honored basics. I have reviewed many texts and templates in my consulting practice, and this is the best guide that I've seen.



4. This book on Business Plan is a very good reference to both; the entrepreneur, who wants to start a business and for the investors. It helps both the parties; the entrepreneur - how to draft a convincing business plan to convince the investors for funding (if required) and to the investor - what to expect and what to assert on, if they were to fund this venture.
   
   The book is useful for a startup, middle sized company and a large sized company and gives an idea how to organize each section to grow the organization. It describes how the Business Plan can be used every year, even for a growth with calculated risks. It describes how the Risks are highlighted to put the policies and decisions to either avoid, accept or mitigate those risks. The language in the book is very lucid. Some sections may have some extra text which make it a little long reading.



5. I did, so I bought five books. I will review them from worst to best.
   
   "Finding an Angel Investor In a Day," by The Planning Shop (2007), told me nothing I didn't know, and I didn't know anything about business plans or angel investors. The title is ludicrous and the advice is obvious, e.g., "Your business plan should be concise, compelling, and irresistible to investors." 1 star.
   
   "The ABC's of Writing Winning Business Plans," by Garrett Sutton (2005), walks you through writing business plans for a lawn mowing business and buying a pizza restaurant. If your business is more complicated, this is not the book for you. 1 star.
   
   "The Ernst & Young Business Plan Guide," by Brian Ford, Jay Boorstein, and Patrick Pruitt (2007), is a good book but hardly inspiring or insightful. If you follow this book your business plan will be competent but won't grab investors. 3 stars.
   
   "Angel Financing for Entrepreneurs," by Susan Preston (2007). This book doesn't explain how to write a business plan, but it explains how to make a 10-minute PowerPoint presentation to investors -- a presentation that will grab investors. For example, one question is "How is your product or technology scalable?" I also learned some of the financials that angel investors look for, such as what IRR is expected. This book helped and inspired me to write an excellent presentation, that became the basis for my business plan. 5 stars.
   
   "Raising Venture Capital for the Serious Entrepreneur," by Dermot Berkery (2008). This is a textbook for a business school course about venture capital. This book is full of insights. Every few pages new ideas would compel me to go to my computer and add stuff or rewrite my business plan, for example, Berkery emphasizes the need for clear milestones. Preston mentioned milestones but didn't make it clear why they are so important. The financials that were briefly presented in Preston's book are thoroughly presented in Berkery's book, for example, what gross margin investors look for (80% or more) and why they need such extremely profitable products or services. Plus you learn the jargon or key phrases of venture capitalists, e.g., "a large but well signaled market," the importance of "market power" and an effective "route to customers." I feel that my business plan now speaks to investors in their language, with the numbers they are looking for. 5 stars.

1 comments about Almanac of Business and Industrial Financial Ratios (2009) (Almanac of Business and Industrial Financial Ratios).

1. Troy's Almanac of Business and Industrial Financial Ratios is always a great help in valuation middle sized companies in the U.S. Comparing financial ratios is critical in revealing financial shenanigans. But always remember, make the f/s data at first comparable and then calculate the ratios.
   
   This book is solely a collection of financial ratios and does not include a discussion on the theoretical background. Thus it is only a buy for professionals (i.e., CPAs and investment bankers) involved in valuation projects and investment professionals (e.g., CFA charterholders). For private investors I would recommend the online sources of Barron's and WSJ for a brief comparison of financial ratios.

5 comments about Multi Asset Class Investment Strategy (The Wiley Finance Series).

1. This book was launched in the United Kingdom a couple of months ago and has already sparked new and fresh debate on the subject amongst academics and experts alike. This publication will no doubt have the same effect in the US.
   
   It builds on David Swensen's 'Yale Endowment' model, offering a critique and new thinking that easily roles off the page given its light hearted and sometimes comic narrative.
   
   The book is Fraser-Sampson's first and one that he embarked on after realising the potential in his theory whilst addressing the National Association of Pension Funds a few years ago to much aclaim. Already a relatively well known name amongst investment strategists in Europe, it would seem likely that this publication will see Fraser-Sampson equally well recognised in the States.



2. I have read a lot of the writer's articles in the past in both US and European publications, and have always been impressed by his writing style, grasp of the subject, and ability to think outside the box.
   
   This book follows on in the same high quality way. He manages to make a complex subject readable and interesting, and yet has some really revolutionary things to say about investment.
   
   I particularly liked his view of risk, which I had never seen before but which made instant sense.
   
   One of the reviews on the book cover says "this book stakes Fraser-Sampson's claim to be recognised as one of the great thinkers on portfolio theory, ranking alongside Markowitz and Swensen". I agree - more, please!



3. Guy Fraser-Samson builds on the Yale Model to institutional investing, so I somehow expected another version of Swensen's "Pioneering Portfolio Management". However, "Multi Asset Class Investment Strategy" is in my eyes a huge improvement and a surprisingly entertaining and satisfying read. Guy Fraser-Samson is a brilliant writer, with a real talent for describing a complex subject. His book is down to earth, light-hearted and full of analogies that make the subject easy to grasp and interesting. It covers a wide range of subjects and demonstrates that brevity really is the sister of talent. I personally found his discussion of risk as particularly practical and relevant. "Multi Asset Class Investment Strategy" is the perfect starting point to learn more about a portfolio management approach that so far - at least in Europe - has not received sufficient attention.



4. Guy Fraser-Sampson with his first book, Multi Asset Class Investment Strategy, has made a huge contribution to practice of portfolio theory.
   
   Picking up where David Swensen in his book Pioneering Portfolio Management leaves off, Fraser-Sampson demonstrates how blind faith in so-called "alternative assets" and faulty risk-adjusted performance metrics cause institutional investors to under-perform market measures.
   
   The author shows how different asset class - hedge funds, private equity, real estate, etc. - returns can be compared to those of listed equities. At the risk of simplifying his thoughts, the author argues portfolio managers need to adopt a long-term view. Returns must be compounded over many years. Not, as the current obsession requires, earned quarter-to-quarter.
   
   The fact that most of the illustrations in this book are drawn from UK data in no way detracts from the validity of its message. It is clear and pragmatic. The Yale Model represents the best Portfolio Theory has to offer. Combine it with Fraser-Sampson's unique thoughts on risk, liquidity and Total Funding; it represents the future of institutional investing.



5. Fraser-Sampson provides a reasonable overview of multi-asset class investment strategies and fairly compelling evidence for their superiority over traditional asset allocation strategies. His writing is generally crisp and sharp, but his material is somewhat dry and lacks in the way of real life illustration. His treatment of the portfolio management process is also remarkably devoid of any commentary or insight regarding the manager selection process which is absolutely crucial to the assembly of a succesful portfolio. As a result, his treatment tends to be fairly academic in nature and suggests a lack of actual experience managing institutional portfolios. I also found his somewhat self-righteous tone to be rather grating.
   
   David Swensen's Pioneering Portfolio Management provides a far superior analysis of the portfolio management process and is written by someone with immeasurably more insight into the actual process of managing an institutional portfolio. Swensen's book could probably be better written, but its concepts are much more clear and compelling. I can't say I took much away from Multi Asset Class Investment Strategies.

5 comments about Financial Accounting: An Introduction to Concepts, Methods, and Uses.

1. Having never taken an accounting class before, I didn't know what to expect. This was the text assigned for my first accounting class in an MBA program at an elite Northeastern Business School. It is a pretty straight-forward read. Let's face it, accounting is a subject full of jargon that you MUST learn. It is just one of those subjects.
   
   The text had ample exercises and was fairly easy to read. However, you must be able to have an attention span greater than 5 minutes to be able to read this book.



2. the whole structure of the book is ot comprehensible. it gives out 3 financial statements at the first 3 chapters, without letting the readers to have time digest the concepts. after you are confused enough, the book will then introduce concepts of each items listed in the statements, and have you look back at the first three chapters.
   
   the layout is not good either. for some chapters, you need to turn the pages back and forth, again and again, because the text content and the illustration table are back to back.
   
   the book is just very confusing.



3. Financial accounting is a difficult subject but this book helps break down the concepts in a way that is easier to understand.



4. I was so lost with this book and thought it was my lack of background knowledge in the topic that was causing all the confusion. Nope, even my friend who is a CPA was stumped by this book's explanations. If your prof insists on using this book get the Schaum's Guideline of Managerial Accounting study guide/outline. It will save your bacon and your GPA.



5. This book will take you from zero to hero in understanding financial accounting, providing you put in the effort to learn the material presented.

No comments about CCH Accounting for Income Taxes, 2009 Edition.

1 comments about MP Fin/Man Accounting and Circuit City AR.

1. This is the type of book you buy because it is a college class requirement, and like all textbooks it is outrageously overpriced for what it actually contains. Each chapter has two main parts; the first part explains the accounting jargon and the second part has the math. There is more emphasis on the jargon than the math, and there is usually only one very simplistic example of the math, then much more complicated math for you to figure out in the problem area, but with no explanations of the more complex math problems. How about more emphasis on the math and better explanations? If you really have to buy this book but want to learn how to do the math, then Study Guide to accompany Financial and Managerial Accounting would be a good accompanying purchase since it has a lot more math examples and explanations

2 comments about Using Financial Accounting Information: The Alternative to Debits & Credits.

1. I saved a lot of money ordering this book from Amazon and it's in perfect condition. Thank you!



2. The book was as described by the seller. It was virtually new and was still wrapped in protective covering when I received it. Of course, it wasn't sealed like a new book but close enough.

1 comments about Financial Accounting.

1. This is my first accounting course; I was a little overwelmed the first class. This changed after I got this book (required for course); this is very well written, put together, easy to navigate, etc. I find the course material much easier to grasp using this book after lectures.