Posted in Investing (Saturday, August 30, 2008)
Written by David Bach. By Broadway.
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5 comments about Smart Women Finish Rich: 9 Steps to Achieving Financial Security and Funding Your Dreams (Revised Edition).
- Love all his books - bought this, gave it someone and had to buy it again. It all depends what level you are on. Not too much non-common sense, but good for women to read.
- You don't have to be a rocket scientist to become wealthy and this book details how easy it can be. If you're looking for glitz and glamour and "get rich quick" this isn't it. There's no such thing as an overnight success. Read David's book and get going on the road to wealth.
- Smart Women Finish Rich is a bit different from other financial books I've read. I have to admit I was surprised with how well David Bach addressed both the emotional and intellectual relationship women have with money. His grandmother taught him well.
I am going to say that Smart Women Finish Rich is more for a financial beginner than a woman with financial savvy. It's a well thought out system of gaining and keeping control of your financial self-sufficiency. Bach has filled this book with definitions, resources, quizzes, systems, exercises and tables. I was impressed and give it a must read if you're serious about becoming more financially organized.
David Bach addresses both the heart and the head in Smart Women Finish Rich. He used the lessons he learned from his grandmother, and his mother, as inspiration. After growing up with two such powerful role models, he was surprised by the number of financially uniformed women. Many of the women who came to him for financial advice, had no clue about building financial security.
Smart Women Finish Rich is easy to understand. I read it and "got it." This is a "how to" book that involves a commitment on your part to read, work and put the assignments and lessons into daily practice. Bach has carefully given us valuable financial keys, now it's up to us to follow through.
What you'll get out of this book is going to depend on what you're willing to put into it. It's a book that has the potential to give you a great foundation for financial self-sufficiency.
Here are some of the areas I found particularly useful:
1.The first exercise, "Financial Knowledge Quiz" is a great practical place to start. I found it to be thoughtful and quite an eye-opener. I learned about how well (and sometimes not so well) I understood the role money played in my life.
2. David Bach is adamant about pinpointing the reason money is important to you. To find this out, you'll need to examine your money values and ask yourself if your financial behavior matches those values. He provides a simple but thoughtful exercise called the "Values Ladder."
3. Smart Women Finish Rich is a great blend of exercises, systems, quizzes and practical "real world" information. For example, the "Finish Rich File Folder System" is a simple, easy-to-follow and yet an organizational time saver.
I definitely give Smart Women Finish Rich five stars! If you're ready and serious about getting your financial house and monetary priorities in order, this is the book for you!
- I bought this book because I heard so many positive things about it. I am in my 50's, five years ago I went from having the wonderful life that all women dream of. I had the beautiful home in the suburbs, 2 beautiful children, friends, you name it I had it. Then I lost it all in the blink of an eye. I had relied on my husband to handle all the finances I couldn't tell you the balance in the check book. All I knew was he made the money and I spent it. Thank the Lord I was a RN, but I hadn't worked in quite a few years. I am not going to go into detail what happened but when I said I had nothing but the clothes on my back I mean just that. I have been working two jobs for the past five years making good money but I have NOTHING to show for it. By reading Suze book I was able to identify myself, it is so easy to understand that someone like myself with NO understanding of finance can take her suggestions and work them into my present life. It is going to take discipline on my part and learning to say NO to my children is going to be the hardest. But, I need to take care of myself. This book was just what I needed to read. I highlighted areas, I keep going back and re-reading certain sections. I keep it next to my bed. Buying this book was one of the best things I have done for myself.
- I think all women should read this book and share it with others (family and children). Not only does Mr. Bach discuss how saving a little here and there can help with retirement, but he also gives women inspiration to live out (and especially to finance) their dreams. A wonderful book.
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Posted in Investing (Saturday, August 30, 2008)
Written by Michael Maloney. By Business Plus.
The regular list price is $16.99.
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4 comments about Rich Dad's Advisors: Guide to Investing In Gold and Silver: Everything You Need to Know to Profit from Precious Metals Now (Rich Dad's Advisors).
- This is a very well written book explaining both the do's and don'ts of investing in precious metals. Lots of historical context without getting too deep or boring, about why every fiat currency that's ever been has failed, and that includes our own dollar heading for bankruptcy as well. Far from being any kind of kook or conspiracy theorist, Michael Maloney of GoldSilver dot com fame, pens a convincing story about why all things financial are cyclical and why at this current juncture, investing in gold and silver is the right and potentially profitable thing to do. Inexpensive in cost but maybe one of the more valuable books on gold and silver investing you'll read lately, it's an enjoyable, easy read that you can share with family and friends. Even if they don't agree on the role of precious metals in our upcoming economic trials and tribulations, I'll bet they'd still say they enjoyed this book. I know I did...
- I became interested in precious metals and economics about a year ago and have been reading and watching everything I could get my hands on. After a while you begin to see that there is a lot of common ground shared between most of the material out there and being new to the "Rich Dad" stuff I wasn't sure what to expect from Mike Maloney (though I did like the series of interviews he did with industry analysis professionals). I was very impressed with the amount of original research and information I found in this book - it covers all the bases from the historical trends and cycles, to the fundamentals of economics and everything in between. Of all the books I've read on the subject this year (about 10 so far) this is by far the best overall coverage and was the most fun to read.
- If you don't know why gold and silver are a good investment "Guide to Investing in Gold and Silver" will tell you why they are. Simple to read full of facts about money and currency and history of money and currency. It breaks down complicated economics into fun easy reading. This book gives you the do's and don'ts of investing in precious metals and a clear understanding of why now is the time to invest in gold and silver. If you want to protect your wealth from inflation or build your wealth through gold and silver this book is a must read. A great addition to the Rich Dad library of books!
- I'm only telling you to stay away from this book because I want to buy all the silver you don't.
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Posted in Investing (Saturday, August 30, 2008)
Written by David F. Swensen. By Free Press.
The regular list price is $30.00.
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5 comments about Unconventional Success: A Fundamental Approach to Personal Investment.
- Unconventional Success: A Fundamental Approach to Personal Investment This book is a must-read for anyone who is planning to do their own investing whether in a 401k, IRA or taxable account. It gives you a simple but sophisticated approach to allocating your investments among equities (U.S. and foreign), U.S. Treasuries (regular and inflation-protected) and real estate. He shows you how to invest in index mutual funds without paying exorbitant (and unnecessary) investment advisory & management fees. He gives a blisteringly negative review of the mutual fund industry which, based on credible, academic research has failed to beat the market after taking into account the fees charged. The author's "creds" are impeccable as a star investor of one of the largest endowment funds in the U.S. I believe this book is essential reading for any investor.
- Unconventional Success is well written with logical explantions, good examples and practical advice. The book goes step-by-step through a discussion of recommended types of investments and popular investments that are not receommended, active vs passive investments and market timing. I recommend it for anyone who is interested in investing. It is one of the best investment books I have read.
- Swensen's text is well developed and demonstrates a reasonable and rational approach to investing. Though not a text for the novice, I found it accessible to the average reader, as I gained familiarity with the language of investing, and intend to follow his advice.
- Swensen provides a excellent analysis of different asset classes and the roles they play (or fail to play) in diversifying portfolios. For example, he clarifies the different diversifying roles of conventional Treasury bonds and TIPS, and explains why corporate, municipal and foreign bonds cannot be substituted. He also demonstrates the advantages of periodic portfolio rebalancing for the disciplined investor.
In what almost amounts to a book within a book, Swensen forcefully chronicles the failure of the mutual fund industry and its regulators to serve the interests of individual investors. This discussion is a must-read for anyone concerned about the implications of the shift towards investor managed defined contribution pension plans as the primary vehicle for retirement savings.
Swensen has not written a practical how-to guide to personal investing or asset allocation; rather, he argues for an approach to personal investing built around core principles. Intellectually-oriented investors will be well served by this book as preparation for developing a personalized investment program.
- Let's face it, I'm a 30 something Stay At Home Mother with two kids, a husband, a mortgage and a dog.
I heard the book referenced on NPR and thought it would be a worthwhile read. Now I'm asking better questions.
Mostly though I found it frighting.
If you'll excuse me I'm going to resume my ostrich pose.
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Posted in Investing (Saturday, August 30, 2008)
Written by Jack D. Schwager. By Marketplace Books.
The regular list price is $17.95.
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5 comments about Market Wizards: Interviews with Top Traders.
- I have traded off and on over the years from futures contracts, options on stocks and futures, and stocks. I have used technical analysis, fundamental, and both. I have been in and out of the market because of losses, gains, losses, and said chuck it, I will buy ETFs and Mutual Funds. But I always come back to the market and tech analysis again.
If you have found that you have a real interest in trading/investing and want to make it a career, not just because of the money potential, but because you like the hunt, analysis, and challenge, get this book.
You will read real life stories of people that lost in the start, or lost it all, and then finally figured out the game (that fits their own style) and made millions. There are many PROs in the book that dish out some very insightful information. I can say it sure is encouraging to hear that these folks at times had a rough start but never gave up. Even if you do not want to buy stocks directly and just want to invest in the mutual funds, this book is really a fascinating look at the pros in this business. These folks in this book are the real pros and not just some analyst writing a recommendation to make a days wage.
- I am kind of critical to these books. Probably half of the interviews are worthwhile to read. Some trading styles are enlightening. Last chapter is full of BS though. All in all, a good read!
- Nutshell review - an entertaining book with lots of insights and ideas from some of the most sucessful market traders. Worth reading.
- I generally only read textbooks about trading. Statistics, technical analysis, calculus etc. However, this very entertaining collection of interviews may be my favorite and most informative read. The stories give re-assurance that an individual can succeed through their own studies, analysis and effort. If you read carefully between the lines, you can figure out how the best in the business are operating and how they are formulating their strategies.
- Worth the time to learn how expert traders analyze the market. One of many in my collection.
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Posted in Investing (Saturday, August 30, 2008)
Written by Jay M. Shafritz and J. Steven Ott and Yong Suk Jang. By Wadsworth Publishing.
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3 comments about Classics of Organization Theory (with InfoTrac ).
- I used this book (actually the 3rd edition) in preparing for my comprehensive exams for my master's degree. The title is descriptive. The book is short excerpts of key writings on the organization theory. The selection of readings is appropriate. The only complaint I have is that sometimes I wished I had the complete book in question! On the other hand, some of this stuff is really dry. If you are pursuing the field in an academic way, this is a valuable book. But I can't imagine reading it for enjoyment or idle curioisity.
- Had to slog through this book for an OB class, never did see the relevance.
- I have used this as a required textbook for one class, and referred to the articles and references numerous times over the years.
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Posted in Investing (Saturday, August 30, 2008)
Written by William J. Bernstein. By McGraw-Hill.
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5 comments about The Four Pillars of Investing: Lessons for Building a Winning Portfolio.
- I have read a ton of financial books and this has been one of my favorites. What's great about it is that it's not just "another" book that says all of the sames things ... in fact, it is very different from many books that you'll read on this topic. The author backs up everything he states with historical data and his reasoning for future projections. I'm not going to immediately change my portfolio based on this book, but the author did give me a lot to think about and referenced several other books that I am reading now.
- Bernstein has endowed individual investors with the most important fundamentals of investing, weaving together the theory, history, psychology and business of investing into a gem of understandable language for mere mortals. I recommend this book often to my clients and encourage anyone who is serious about investing their money successfully to read this book before allocating a penny to any investment.
- Book goes through the history of investing. It gets quite technical and at times very difficult to follow, only really in one chapter where he discusses what affects stock prices. And rereading it helps out. As the author suggests though, just read a little bit at a time. It's a lot of material to digest. But overall it discusses the advantages of using index funds and the need to diversify. I feel that the book speaks the truth regarding investing and everybody should at least be familiar with the concepts discussed in the book.
- In the introduction to his book, "The Four Pillars of Investing: Lessons for Building a Winning Portfolio," Dr. William Bernstein states that the "competent investor never stops learning." Yet, because the world of investing can be such a confusing place, it sometimes seems that the more you learn, the more confused you get. As a participant on the Bogleheads message board, I feel I am an educated investor but still I often get lost after reading all the different debates: Should I invest in total markets or slice and dice my portfolio? Should I invest all my money at once or adopt a dollar cost averaging philosophy? How much foreign exposure should I have? Is now the right time to buy REITs, or do I need them at all? One day, while perusing the message board and sifting through some of these same questions, I found a suggested investing reading list, and this book was listed as the starting point. In this straightforward book, explained with easy-to-understand examples, Dr. Bernstein provides a solid framework for investors to begin to answer some of these questions.
In setting this framework, Dr. Bernstein introduces readers to four basic concepts, or what he terms the four pillars of investing: the theory, history, psychology, and business of investing. The first pillar, the theory of investing, gets most of his attention, as it comprises the first 100 pages of the book and explains how the bond and stock markets work. In this section, Dr. Bernstein emphasizes what he calls the "most important concept in finance" - the relationship between risk and reward. If investors want high returns, they must take great risks. Following this logic, Dr. Bernstein makes some conclusions that may seem foreign to most investors. For example, the best time to invest is not when things are going well, but when they are going poorly. Those who invest during a bubble are not taking a risk and therefore can expect low returns, whereas those investing during a bear market are taking a risk and therefore can expect (but will not be guaranteed) higher returns. Similarly, those who invest in "good companies" like Wal-Mart can expect lower returns than those who invest in "bad companies" like K-Mart, because good companies, with low risk, are generally bad stocks, while bad companies are generally good stocks. This idea - that high returns cannot be achieved without significant risk - is the key concept Dr. Bernstein continues to emphasize throughout the book.
While the first pillar gets the most attention, Dr. Bernstein terms the second pillar, the history of investing, as "the one that causes the most damage" to investors. What separates the professional investor from the amateur investor is that the professional recognizes that bear markets are a fact of life - they inevitably come about once every generation, usually sparked by a new technological advance. Professional investors stay the course and don't panic; they have a plan and stick with it. In fact, for beginning investors, a bear market is a blessing, allowing them to accumulate stocks at low prices. This concept again ties to the relationship between risk and return: throughout history, in times of great optimism, when prices are the highest and the risk is the lowest, future returns are the lowest, and when times look the bleakest, and risk is the highest, future returns are also the highest.
In the third pillar, the psychology of investing, this relationship between risk and return is again raised. Most investors follow conventional wisdom of the time, investing in specific stocks or asset classes that are currently the most successful and thus buying at high prices. Dr. Bernstein provides two strategies to counter this psychology. He advises readers first to identify the conventional wisdom of the time and do the exact opposite. He also advises readers that assets with the highest future returns tend to be the ones that are currently most unpopular. The investor that is able to go against the flow - to stick with unpopular asset classes and pay attention to his or her entire portfolio return - in the long-run will be the most successful.
Finally, the fourth pillar concerns the business of investing, which details how brokers, analysts, and the media work together to make money at the expense of often ignorant investors by peddling bad or biased information. Instead of paying exorbitant fees to brokerage firms or financial advisors, which steer investors to underperforming managed funds, investors can buy low-expense index funds through companies like Vanguard and thus tap "into the most powerful intelligence in the world of finance" - the market itself, which is, according to Dr. Bernstein, the best advisor available.
Dr. Bernstein concludes his book by applying lessons learned from these four pillars and giving readers practical advice for how to construct their own portfolios. Although this section fell short of answering all my questions, the book as a whole serves as an essential investing guide in providing investors with a basic framework to use in evaluating the myriad of investing choices available. As even Dr. Bernstein concedes, "Four Pillars of Investing" is not an all-encompassing book on investing. It is not the only book you will need to read, and it is probably not the first investing book you should read, but it is nonetheless a book every investor should read.
- William Bernstein has written another must read for the individual investor who wants to chart his own course in the investment world. I was first introduced to this book at a local AAII chapter meeting. Everyone there who had read this book highly recommended it. I suggest reading this book before reading "The Intelligent Asset Allocator" also by the author.Both are excellent books on investing and well worth the time and money spent.
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Posted in Investing (Saturday, August 30, 2008)
Written by Robert T. Kiyosaki and Sharon L. Lechter. By Time Warner Books.
The regular list price is $19.95.
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5 comments about Rich Dad's Guide to Investing: What the Rich Invest in, That the Poor and the Middle Class Do Not!.
- It continues on some of the topics from his first book(Rich Dad Poor Dad- a five star book) but kind of leaves you feeling inspired but needing more information. The ratios given in the book are a few of the many that are taught to finance students but in using them care needs to be taken. Companies have manipulated the financial statements used in these formulas before to get the wanted outcome. Its a good book but feels drawn out, like it could have been condensed a bit. I would buy again for the price its going for.
- Every time I pick up a Rich Dad, Poor Dad book I get so excited about all the unique and life changing information that it is sure to hold for me. Then I start trying to read it. . .
I truly believe that Kiyosaki means well but he is such a terrible, awful, wretched, and inept writer that I am forced over and over again to labor into finding what he is actually trying to communicate. He writes in endless circles, teasing you with a juicy bit of information and then taking a hairpin turn back into meaningless restatements of his personal life and literary procrastinations. I scream, "What are you even trying to say and when will you give me something that I can use!!!"
And there we have the real issue. This book leaves me full of tidbits that I have no idea how to incorporate into my life. How can I possibly suss out a functional process of investing from this dizzying maze of high school writing skills and meaningless anecdotes?
- Must read if you are interested in investing in any area. Stocks, RE, Futures, whatever. Very informative in the normal Rich Dad way. I think this is third in the series and one of the most important!
- Excellent book for starters on the way to financial freedom or people who would prefer to be inspired by common sense approach intellect that provides a base to slingshot their financial freedom and start getting out of the rat race
- Rich Dad's Guide to Investing: What the Rich Invest in, That the Poor and the Middle Class Do Not!
Robert Kiyosaki has openned my eyes: after being 15 year working for several companies as Corporate Treasurer, Senior Operations Controller and responsible for starting-up several buisness units for my employer, I finally was inspired by Kiyosaki's Guide to investing and how you can create your own money, creating assets without buying them, going through a transformation process "trash to cash".
I look at Financial Statements from a different perspective, not as a means of informing someone else of the company's performance, but as someone who would be an inside investor.
This book is really great!!
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Posted in Investing (Saturday, August 30, 2008)
Written by John J. Murphy. By Prentice Hall Press.
The regular list price is $85.00.
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5 comments about Technical Analysis of the Financial Markets: A Comprehensive Guide to Trading Methods and Applications (New York Institute of Finance).
- good book, clear and thorough, amazon did a good job with the delivery too, it was sent earlier than the expected delivery date, and that is to Kuala Lumpur, MY
- A must read. Technical Analysis is the heart and sole of my trading style, it doesn't always work but it sure works enough of the time to make very profitable trades. If you trade on T/A, this book is a must.
David Colletti
Founder
StockTradersHQ.com
- The Good: May be worth something for a beginner who wants to know what Technical Analysis is about.
The Bad: No in depth view of anything.
My Advice: Go to the library before buying. In one or two hours you would have read all (if anything) that is worth in this self called "Bible". No need to buy.
- It is a text book, not a trader's manual. On the upside it provides excellent coverage of charts, trends, reversal patterns, continuation patterns and moving averages. It's chapter on Candlesticks is a small gem of information. The coverage of indicators was skimpy, but this gap can be filled with good internet sources.
On the downside, it was often unclear as to whether his writing applied to individual stocks or to stock markets only. The chapter on point and figure was incomprehensible. Money management was skimpy - again go to the Net.
- All I can say is wow, using the information I learned in this book lead me to take a short position in Heating Oil a few weeks ago and it worked beautifully. I still have much to learn particually about developing a trading system / style of my own. This book has given the confidence and a point in the right direction. Next up is statistical probabilty study.
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Posted in Investing (Saturday, August 30, 2008)
Written by Robert T. Kiyosaki. By Business Plus.
The regular list price is $16.99.
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5 comments about Rich Dad's Increase Your Financial IQ: Get Smarter with Your Money (Rich Dad's).
- This one is worth sharing with EVERYONE! I am leading a group through this teaching. Every parent should be teaching the techniques to their children. This could be the REAL GREENING OF AMERICA.
- I read this book last Saturday at the bookstore. It took me about 2.5 hours to knock it out. Honestly, much of it is just RDPD stuff repeated with some Rich Dad's Guide To Investing thrown on top for flavor.
Still, it's necessary to go back to the basics one and a while. Robert has always been a good story teller. You'll get the same stories out of this book but with more details.
Robert also covers a little current events for us in relation to the weakness of the dollar and the price of oil. I have to honestly say I would probably never understand the economics of it all unless Robert was there to dumb it down for me a bit.
A reviewer made a comment about how Robert will write a book to pay for a liabilty...O.K. What's wrong with that? Developing an asset is what his business is about. I think people just get mad when he divulges parts of his operation they'd rather not know about.
If you're looking for some meat and potatoes on how to actually make money in real estate though...check out David Lindahl's books.
- I've read many books from Kiyosaki and I never get bored. It's amzing how he explains the matters of money, and how easy it sounds. I'm looking forward for his next book.
- This is the first kiyosaki's book I read and it revolutionized my idea about money. I wish I could have read it 7 years ago before I finished my ph.D in Biochemistry. I wanted to be an entrepreneur for many years but it's the thought that wanting to be safe and getting a secure job keeping me from it... Now I am thinking about getting a MBA. I highly recommend this book to anyone wants to know some truth about money and even life!! If you have not read any other kiyosaki's books, I think this is the one you should start with but not "rich dad poor dad". This book contains most of the ideas from "rich dad poor dad". It updated "rich dad poor dad" and has a lot more practical suggestions.
- It was very fun to read though. It definetly follows in the line of his other books
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Posted in Investing (Saturday, August 30, 2008)
Written by Bernard Baumohl. By Wharton School Publishing.
The regular list price is $18.99.
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5 comments about The Secrets of Economic Indicators: Hidden Clues to Future Economic Trends and Investment Opportunities, 2nd Edition.
- If you're an inspiring investor or seasoned pro; a corporate executive or fresh out of school Mr. Baumohl's "The Secrets of Economic Indicators: Hidden Clues to Future Economic Trends and Investment Opportunities" holds a wealth of information to assist in making good economic decisions.
The book's structure begins with two chapters that provides the reader with a good introduction on how economic indicators help explain the workings of the world economy. Next the various indicators are organized by categories that allows to reader to find the exact information he or she needs. Also, Mr. Baumohl's writing style is accessible to readers without formal economic training.
- This book does a great job of explaining a long list of macro-economic indicators, their application and relative predictive importance. Highly recommended for those who want to understand how economists measure and attempt to forecast the direction of economies around the world.
- Very good book to get an idea about all the economic indicators that can make or break the economy.
- This is an esaly introduction to economic indicators, mainly the american ones. It contains some interesting tips about indicators, like "thumb rules" in some cases. It briefly introduces each of the most important indicators to the US economy (as well to other major economies) and it's effects on the markets. Those interested in detailed information of some indicator will need to go deeper looking for it's original sources.
- Secrets of Economic Indicators is an excellent book on what drives and affects the economy and the markets. From inflation,consumer spending,unemployment,housing, to the Federal Reserve. Each section explains market sensitivity and why. Would not recommend this book for market-timing necessarily but to understand why the markets go up and down. The last 2 chapter have websites for U.S. and International Economic Indicators for further information. Well done.
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