5 comments about Option Volatility & Pricing: Advanced Trading Strategies and Techniques.

1. I have read this book very quickly. Very easy, friendly and informative. A lot of useful information which can be applied practically.



2. My favorite options trading text, bar none! I believe if you understand everything presented here you will have a huge leg up.
   
   This book gave me the insight and confidence to take the other side of covered call writers' positions and profitably trade the out-of-the-money calls from a purely volatility standpoint.
   
   It also put me on the path of trading volatility around events like earnings releases and FOMC meetings. Read this before embarking on any options trading ventures. Even though you may not choose to trade volatility directly, understanding its dynamics in relation to option prices will be of huge benefit.



3. One must keep in mind that book was written in early 1980s, and still one of the best works on options trading. Whether you are a beginner, intermediate or seasoned options trader, it certainly worth reading; even the seasoned options trader will learn few things and certainly help organize your thoughts. I like this book and still refer to it every now and then in my trading activities.



4. I bought this book based on all the high review ratings of so many other readers. Unfortunately I found this book to be disappointing. The author clearly knows what he is talking about but I feel does a poor job conveying the concepts to the reader. The basics of placing orders, commission structure,etc get glossed over and the author frequently mentions concepts and then states the will be discussed later in the book. This just needlessly muddies the waters. The presentation of numerical data is also poorly handled. The author describes in long-winded paragraphs concepts that could be more clearly illustrated in tables or graphs. At any rate I found the book disappointing and feel I have learned little about option investing. The book seems to be more of an academic study in options, not an investment oriented, "real world" way to profit from trading options. Someone with advanced knowledge can probably appreciate this but beginners and intermediates I think will find this book lacking.



5. Í bought this book a few years back, its awesome in all respects. I've tried to read it at least 3 times and cant get past about page 50.
   
   It aint light reading for sure and I've been in the business for years. Its the acknolwedged bible of options trading but thats why there are so few successful and long term options traders - no one finished the book.
   
   Its a great book but its probably easier to go to night school to learn options.

5 comments about Way of the Turtle: The Secret Methods that Turned Ordinary People into Legendary Traders: The Secret Methods that Turned Ordinary People into Legendary Traders.

1. I won't repeat what has already been said so well by the many reviewers who found incredible value in this book, as I have. I simply want to emphasise the importance of this book for its insight and valuable lessons into the psychology of trading.
   
   I have been trading the markets now for about 6 months, and almost every day, I come back to this book in my mind and remember the lessons it taught me, including the SINGLE MOST VALUABLE FACT ABOUT TRADING: you will likely lose on MOST of your trades, yet this is essential to winning in the market!
   
   It seems counterintuitive, especially if you have seen ads from the hypesters and hipsters who promise to give you tips that are "89% accurate" and so forth. Mr. Faith's extensive work with testing trading systems using modern computerized simulation techniques virtually proves that you cannot successfully make money with systematic trading systems unless you get in the game, stay in the game, and follow the rules of the game. This means most of your trades will LOSE MONEY, but not very much money. The few times that you do actually realize a profit will more than make up for the many times you don't, and that's the key, right there!
   
   There's a lot more in this book, but for me, this is the biggest takeaway -- how to manage your money and follow your system so you can amass a fortune even while losing on most of your trades! How liberating is THAT concept? It's everything!



2. This book makes you think differently about trading stocks. It follows the approach of the Turtles, a straightforward and rigid method of systems trading. This is NOT a book about INVESTING in stocks but rather about short and medium term trading futures markets.
   
   This book would be helpful for anyone interested in learning how to or in advancing their skill in day trading, technical analysis, and systems trading, with an emphasis on the psychological factors that affect performance. Five stars!



3. I first read about the turtles in Market Wizard and was excited when I saw this book. Well written book which covers what makes the author(a turtle) successful and also the turtle trading system.



4. Take a group of intelligent people, teach them a classic trend following trading system, give them some money to trade, and what do you have? One of the most fascinating trading stories ever told.
   
   This book is an eyewitness account of the story of the Turtles, told by the most successful of the bunch. And while the book does not go into details about the story it does something better- it explains how they made money and how anyone can use their strategies to make money as well as or better than they did.
   
   The author not only details the systems used by the turtles but also describes how systems work, why they work, the problems with system testing, and how to effectively create your own trading system.
   
   The story of the turtles begins in chapter 2 and is continued throughout the book. Part story, part trading text book, the author has done a great job explaining how to trade well using simple systems. If the reports are correct, the author made $31 million while trading as a turtle and several turtles are still make millions managing large hedge funds using the same strategies explained in the book.
   
   The four main points of the Turtle Class:
   
   1. Trade With An Edge: have a positive expectation.
   2. Manage Risk: control risk so you can continue to trade
   3. Be Consistent: execute your plan
   4. Keep it Simple: catch every trend
   
   Think Like a Turtle
   1. Trade in the present
   2. Think in terms of probabilities not prediction
   3. Take responsibility for your own trades.
   
   This book belongs in every trader's library even if you do not trade using a system. But after reading the arguments for systems, I cannot imagine why anyone would do so without one, or several. This book, along with Trade Your Way to Financial Freedom
   has helped me create the 3 systems that I trade. Not only has trading with systems made me more money, it has lowered my risk and helped me sleep better at night. If you want to read more of my reviews of stock trading and investment books, you can get them[...]



5. This is the best book about trading I have read. Specially good for all of you who are interested in developing a MECHANICAL TRADING SYSTEM.

5 comments about Irrational Exuberance.

1. This book has good info in it but man, does it get long. I read lots of analytical info with interest, but this book was very very slow for me, especially in the middle and later chapters.
   
   The good news is that the first couple of chapters make it worthwhile. It does present some very important and valid concepts. The easily-bored reader could read the first few chapters and the last chapter, learn a lot of good info, and not miss much in the long middle chapters.
   
   JD



2. If you have Invested more than ten dollars in the share market or real estate than you should read this book.



3. Last year in my country you can see some commercials in the TV inviting to invest in Mutual Funds, and I believe lots of people turned to that. The problem is that the very next year, beginning in January, the housing bubble burst and we know the rest of the story. Although this book was written before that, the book remain valid at explaining the particular behavior of the markets in these moments of furor, the "irrational exuberance", and the panic that follows it. In my opinion the book is a good investigation of the markets, you can see the author analyzing all the factors involved, including sociological and psicological (this make the book a little slow). Is good to invest in the financial system, but in awareness of its possible behavior.



4. not much food in the book overall..a very shallow and general talk, but i found it interesting to see his comments (p220) on the interest rate and other potential risks in the mortgage market back in 2005. some of the points he mentioned are indeed drivers of the recent subprime meltdown



5. Great book based on the phrase spoken by Greenspan to try and slow down the economy.

5 comments about Devil Take the Hindmost: A History of Financial Speculation.

1. I'm fairly shocked by the extensive number of 5 star ratings for this book. This book is quite painful to read, but not because the stories are tragic or the warnings frightening. Though the messages contained within are important, the author rambles incoherently and the extensive use of footnotes is overly distracting. The footnotes for many pages are longer than the primary text and should have been incorporated into the main story line. Chancellor is in need of an editor with an iron fist toward readability.



2. Great book in history of Economic manias. like the Tulip mania in, where Tulips were worth more then gold and a home, lol! a great book on historic bubbles! just like the housing bubble going on now!



3. After reading this book, I believe all markets, investment schemes etc, are just reflection of crowd behavior and demonstrate group think syndrome. Valuation of assets is controlled not by scarcity of the assets but by how people think these assets are worth and by people who make people think how much the assets are worth. It's been the same for hundreds of years. Subprime for example, highly risky type of loans, securitized and transferred into bonds and rated as investment grade. it is said the risk has been understood, transferred and distributed. and people believed it and bought it. People made people believe in it and made money out of it. isnt it the same case as South Sea bubble and all other cases explained in the book?



4. I first read "Devil Take the Hindmost" a year or so after it came out and enjoyed it at the time. Now, almost 10 years and two burst bubbles later--tech stocks and housing--I thought I would take a 2nd read of it. This is a very impressive book. Chancellor covers the psychology of speculative manias in a very informative and entertaining fashion. It is true that you need to know some economic theory and stock finance parlance to wade through the book, but the reward is well worth the effort.
   
   What's telling about all of the manias that the author describes is how similar they are to each other. The puffing of tulips, railroads, gold mines, "new era" technology, new "fail-safe scientific" methods of investment, etc. all appear to have similar story lines. First, you have the smiling salesman with his most appealing script crafted to the product. The product is perhaps less relevant. If the product is legitimate, such as railroads, it will be oversold to the point of illegitimacy. If the product is illegitimate, such as salted gold mines, it will be sold as being legitimate. The customer, one of whom is reputed by P.T. Barnum to be born every minute, is the ever present object of the stockjobber's attention. The result is usually disaster for the poor customer--especially if he or she is on the hindmost end of these typically Ponzi style schemes.
   
   Chancellor seems to have a rather wryly ironic, yet gentle, take on the victims of these schemes. Greed, fear, naivete, the psychology of the crowd, etc. all conspire to make the greatest fool out of the investor. Time and time again, reasonably intelligent and some less than intelligent investors get roped into these money making and bankrupting schemes. It says something for the timelessness of human nature and our complete inability to remember anything that history has taught us. John K. Gailbraith used to make the observation that recessions and depressions were necessary to remind people that there is a downside to the business cycle--lest we forget. The downside can be delayed or even moderated by intelligent regulation and fiscal/monetary policy--but never fully ended.
   
   The author takes exception to the rational markets school of economics. The line of thought that markets are "all knowing" in terms of including the exact and correct pricing of financial instruments. Sometimes markets behave in thoroughly irrational and mad manners. Very much like people for some inexplicable reason. Also, sometimes markets are cornered or gamed by powerful players. Chancellor appears to put himself very much in the camp of Keynes in believing that there is a place for sane, well thought out, and sensible government regulation. However, he doesn't appear to think that wild and excessive speculation can ever be fully suppressed and controlled. Rather, the best that can be hoped for is to curb the worst abuses by creating lawful financial markets with appropriate consequences for those who perpetuate such frauds.
   
   Hopefully, this book has found its way into some college courses. Highly recommended for any investor. It may save you a great deal of money and grief. At the very least, it will give a very entertaining and informative view of past financial follies and a warning about the inevitable ones that will come....



5. E. Chancellor's book doesn't cover the last two `bullae' (the dot.com and the real estate ones), but his analysis of former bubbles gives also a perfect insight into these.
   
   For the author, speculative manias are the Carnivals of capitalism, a `Feast of Fools'. Their essence is a Utopian yearning for freedom and equality by the many in a world dominated by the wealthy few.
   
   He agrees with C. Kindleberger that the bubble process begins with a kind of displacement (a new or an increased profitability of a particular investment), of which the positive feedback results ultimately in euphoria, where all kinds of rationality are wiped from the table. New `investment opportunities' were tulip bulbs, newly discovered or explored continents, canals, railways, aircraft, media (radio, TV), computers and internet.
   
   The bubbles are also symptoms of hubris after the world balance of economic power shifted from one nation to another: the Seventeen Provinces (tulip bulbs), Great-Britain (the South Sea shares), the crash of 1929 after the US took Great-Britain's place as the world's superpower, the Japanese real estate bubble after this country surged to the economic forefront.
   Bubble formation needs also a certain particular environment. Socially, self-interest must be the dominating force and, politically, there should be little or no governmental interference in the economic process (laissez-faire).
   Other characteristics of bubbles are the phenomenal losses suffered by those who were holding the bag (after the tulip mania, investors recovered 3.5 % of their outlay), political corruption, market cornering and outright fraud (e.g. selling more paper or shares than effectively issued).
   
   E. Chancellor makes a laughing stock of the Efficient Market Hypothesis. He agrees with J.M. Keynes that markets are fundamentally inefficient.
   But the anarchic force of speculation should be taken seriously (after the bubble of 1887 only one fifth of the US population kept a regular employment). Its power undermined the Bretton-Woods system of fixed currencies. Therefore, whatever free marketeers may continue to pretend, a State-managed form of capitalism is needed in order to prevent market meltdowns and their dramatic consequences (runs on and collapses of banks and of the banking system, consumer pessimism, recessions and ultimately severe depressions which hurt nearly all citizens).
   
   This book is a must read for all economists and `investors' and for all those interested in the history of mankind.

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

1. This book in great detail tells the tale of the subprime bottom feeders and their links to equally greedy and bottom feeders on Wall Street. It's easy to read, and you start to understand how these loans were made-- quickly and without much regard to whether people could actually repay them. I would have liked to see the "chain" completed, however. We don't hear much about the home buyers and what they did or what happened to them--were they all deadbeats, as some say, or hapless naifs? And, at the other end, what were regulators doing? Surely, they must have had some thoughts about what was going on. I know at the time that consumer groups were screaming their heads off, and a few state legislatures tried to pass better regulations--but they were pre-empted from implementing them by the Office of Thrift Supervision an the Office of the Comptroller of the Currency. Of course, if the authors had covered all that, their book would have been bigger than the phone book, and they would still be writing. All in all, though, I thought it was riveting.



2. Until reading this book, it was difficult to see how bad home loans could bring down Wall Street. In an entertaining read, Muolo and Padilla tell the story.



3. This book was an easy read. I like the way the authors tried to keep it simple, which must've been a challenge. This whole crisis and why it happened, is not that simple to explain, so the average person, who's not in the world of high finance can understand. Muolo and Padilla did a good job breaking it down for us; exposing the culrpits involved and tried to give us an idea of what these guys were thinking. Obviously, they all swallowed that line from the movie Wall Street, "Greed is good", and paid a hefty price with other people's money.



4. This book clearly spells out what went wrong to precipitate the mortgage crisis that catapulted the financial markets into a global meltdown. The book uses simple language to describe complex concepts, which is very helpful to the financial novice like myself. In this sense, this book is wonderful.
   
   However, the book is way too long. Some whole paragraphs are repeated almost verbatim in different chapters. Each paragraph chronicles the life and times of another major mortgage company. While this concept is ok for telling stories about the individuals involved in the business, it makes for highly repetitive reading, as the mistakes made by one company are often made by others. The first 150 pages is a tough slog of similar people and similar stories, but the book picks up steam in the final 150.
   
   Finally, while this book does a great job of explaining the mortgage industry and their role in the financial crisis, the authors make a cursory explanation of what truly happened on the Wall Street side of things. (This isn't too unexpected because the authors are mortgage experts.) For example, there is basically no mention of the subsequent credit crunch that was precipitated by the sub-prime mortgage disaster.
   
   For a good explanation of what went wrong on the Wall Street side of things, I recommend 'The Trillion Dollar Meltdown: Easy Money, High Rollers, and the Great Credit Crash'. That book is not an easy read, because the author expects the reader to have a solid understanding in Wall Street lingo. But 'Chain of Blame' is a useful primer.



5. This book tells it like it is. It's clear, well ordered, and very readable. But it's a little scary to realize how greed can control a country like ours.

5 comments about Investing For Dummies, Fifth edition.

1. I bought this for my daughter, who is taking this a college course.
   She seems to be happy with it. She asked for this book it as the instructor told her she needed it for the class. Sorry I can't give you more info but I am sure it's a good book.
   
   Kathy in Las Vegas



2. I wanted to start investing and read somewhere you should first do some studies. That's when I came across this book. Very well written, and in simple to understand language. I used to dread 401K, IRA, Mutual Funds, Bonds. Now I am confident I know about them and what I am investing into.
   Showed new ways to look at debts, as to if I clear my debt sooner, I am investing in something which gives be interest equal to the interest I pay the bank.
   
   I would recommend this book to all who want to get into investing but are hesitant or don't know where to get information from.



3. I've read several "for Dummies" books, and in general the entire series is well written, concise, and gives you what you really need. However, I was very disappointed in this one. The book is really dedicated to the three methods of building wealth: equity (stocks, mutual funds, etc.), real estate, and small business. But there isn't enough info on any of the three subjects to do much with. You're better off getting a separate book on real estate if you plan on pursuing that. And nothing he says regarding small business is of much use to accomplish anything. That leaves stocks, bonds and mutual funds, which is what most users would purchase this book for. Regarding that, if you are completely new to mutual funds then this is the book for you as it will explain the basics. However, if you are beyond the very basics (i.e.; "What is a mutual fund?"), and are looking to seriously invest, then I think you'll be disappointed. And if you are looking to get into buying stocks directly, then this book seriously falls short. The entire section on stocks really just explains a canned stock report from a given company. Utterly useless unless you plan on subscribing to that service. No talk of forward PE's, valuation, etc.. Also, the author's continual insistence that you should stay in mutual funds because you "can't beat the market" since there are so many pros out there is utterly ridiculous. There are many gurus out there that have proven track records of generating higher than average returns. Just emulating Warren Buffet's portfolio will do that.
   
   I was looking for a book to dig more into stock valuation, company analysis, etc. and this book barely even touched on any of that beyond definitions. I wouldn't even call it Finance 101, since there is very little about monetary policy, bonds, interest rates, etc.. If you've picked out at least one mutual fund in your life (or purchased a stock directly), then this book is way too simple. If you tremble at the thought of picking a mutual fund and have no financial sense whatsoever, then this is your book.



4. Great book, lays it all out in terms I can understand. I started investing based on this book, and I refer to it often.



5. I didn't think reading about money/investing could ever be this fun or interesting. Straight talk and clear definitions for all the finance jargon.

5 comments about Greenspan's Bubbles: The Age of Ignorance at the Federal Reserve.

1. The author attacks Alan Greenspan for setting interest rates too low and thus causing all out economic problems. Why did Greenspan do this? He did not see the bubbles (that he himself created) because he was blinded by the "concept of technological driven productivity miracles." The author repeats this idea many many times. But from reading the first five pages you might wonder if Mr. Fleckenstein is the best person to launch a bubble attack like this. On page 3 the author leads you to note 2 (page 189) where he writes: "Determining that a bubble exists is somewhat subjective, though not terribly difficult." A couple of pages later on page 5, the author admits: "I saw the stock market bubble building and concluded it would end in disaster -- about four years too soon!" Should Fleckenstein not have disqualified himself from documenting forecasting failures at the Fed at this point? Taking strong action to stop a bubble based on the author's forecast could have driven us into a deep recession. In these first pages Fleckenstein proves with personal experience the validity of Greenspan's statement on page 99: "I don't think we can know there's a bubble until after the fact. To assume we know it presupposes that we have the capacity to forecast a imminent decline in prices." On page 162 in a confusing paragraph Fleckenstein seems to agree with this by writing: "What would be correct to say is that one can't exactly know what action might be required to stop a bubble." This not say that Mr. Greenspan is blameless.
   The author quotes his column from 1999 to judge Greenspan without the benefit of hindsight. In this column he writes that the increases in stock prices are "breathtaking" but never uses the word, bubble, before it burst. He uses the word, bubble, in column on September 17, 2001 after it is bust. Even I did better than that. In my book, "How to Invest in Condominiums" I use bubble twice and tell my readers how to to avoid them (I finished writing the book in 1999). Yet Fleckenstein is the one who has the nerve to attack the FOMC for not using the word often enough. This book is all about criticism with the benefit of hindsight. There are no lessons learned. We have to take it on faith that tighter money applied here and there would have been better. He does not attempt to demonstrate his forecasting ability and help Chairman Ben Bernanke by telling him how big the bursting real estate bubble is and when it will hit bottom, so that the Fed can set the "correct" rate. But no, on page 184 the author indicates that Ben Bernanke would make the same decisions as Greenspan. When we finally know how big and bad the real estate bubble was, say in 2013, Ben Bernanke (if he is still there) and the FOMC are sure to get flack from Fleckenstein for allowing the bubble to end so badly. The FOMC will be unaware of this incoming flack or wisely ignore it. This negative evaluvation (or well documented rant) deserves three stars for providing an insight into how difficult the task the FOMC has is and why in the long run the value of our paper money will always erode.
   
   
   



2. In this fascinating book, financial journalist William Fleckenstein studies the record of Alan Greenspan, chairman of the Federal Reserve from 1987 to 2006.
   
   Between 1937 and 1987 there were no bubbles, but Greenspan helped to create two bubbles in ten years - in stocks and then in real estate - by holding interest rates too low, punishing savers. He helped to make the American people worse off by redistributing wealth to the rich, the bubbles' boosters and sponsors.
   
   Greenspan viewed new technology expenses as assets. So he thought that productivity and profits were higher than they really were, that inflation was overstated and that stocks were understated. In 1998 firms spent $95 billion on computers. After Greenspan's `hedonic adjustment', this came out as $352 billion, adding 2% to US GDP.
   
   Governments want to understate inflation and overstate growth, productivity and incomes. So now, most price rises seem to be way above the rate of inflation.
   
   Greenspan's rate cut of 15 October 1998 triggered the stock market bubble. By 1999 the stock market was valued at 180% of US GDP. (In the last bubble, in 1929, it was 85% of GDP.) In 2000-01 this bubble burst - the new technology miracle proved to be a mirage. In 1992-99 there was zero productivity growth in 99% of the US economy, and growth only in 1%, computer hardware.
   
   In 2001-03, housing `saved' the US economy from the aftershock of the stock bubble. De-regulation led to lower lending standards with more `creative' financial instruments, like the $500 trillion worth of derivatives, which Warren Buffett described as `financial instruments of mass destruction'.
   
   So from 2003 to 2007 there was a real estate bubble, based on huge debts. Mortgage-equity withdrawals created half US GDP growth between 2001 and 2007. By 2006, household debt was 97% of GDP: mortgage debt was $13.3 trillion. Total US debt in 2007 was 325% of GDP.
   
   This ocean of debts rested on a falling real estate market, a sinking economy and a weak currency. Where could the next economic rebound come from? Capitalism has destroyed production and destroyed the housing market: it is running out of options.



3. Greenspan will be forever linked to the global financial meltdown of 2008. History will not be kind to the Bubble Boy.



4. This is a truly invaluable book. Fleckenstein shows,beyond any doubt, that Alan Greenspan has been a disaster for the country and the economy. Even before becoming Fed chairman, Greenspan had demonstrated his incompetence (Read the beginning where Greenspan's predictions as one of President Ford's advisers would drastically miss the mark). Unfortunately, Greenspan would be confirmed as Fed chairman and begin a nearly twenty year career of gross mismanagement.
   
   Fleckenstein quotes Greenspan repeatedly, demonstrating the Fed Chairman's inability to predict the stock market or housing bubble (or anything else for that matter). Greenspan comes off as completely incompetent in Greenspan's Bubbles. Perhaps some day the Federal Reserve will be abolished and the economy will not be subject to the whims of mediocre men like Greenspan and Bernanke. If that day comes, it will be because of thoughtful experts like this book's author. I also recommend Ron Paul's analysis of Greenspan in his recent book--Paul points out that Greenspan once supported sound money but changed his views as the lure of great power as a central planner seduced him.



5. This book is a disappointment. For the happy few it might be an interesting read, but for someone intereted in the general ramifications of the Greenspan era it is a huge dissappointment.
   The book seems to be a blow-by-blow vendetta of the author against Alan Greenspan. And while the author clearly has an authority on the whole subject, he fails to engage his reader by not clarifying the details on why he rants againts Greenspan. Sometimes too much knowledge can be a hindrance.

5 comments about Jim Cramer's Mad Money: Watch TV, Get Rich.

1. A great follow-up by Jim Cramer to his book "Real Money." In "Real Money" (read that one first), Jim explains some of the basic ideas you can use to stay slightly ahead of the market. Jim often says (in his books and on TV) that he doesn't believe in a pure "buy and hold" strategy, but rather "buy and homework." In Real Money he explains some ways you can know the time to BUY... in this book he adds more detail, and further explains all of the required HOMEWORK you have to do before buying, and what you have to do to know when to SELL SELL SELL. His style is entertaining, and his language is straightforward. A great book for those small investors looking for plain talk and a way to understand the market.



2. I've heard all Jim's books and I remain a huge fan of his teachings. I have utilized his advice for my investment strategy.



3. This guy is nothing short of a genius in my opinion, I've purchased all of his books I'm pretty sure and have NEVER been dis-appointed with them. He's a 5 STAR AUTHOR all the way.



4. I listened to the audio version of this book. Or at least I tried to. The first 30 minutes were completely hype. No content whatsoever. I got so tired of his voice, the way he talks, and all the hype that I couldn't continue the book. Sorry. I hear his earlier books were better.



5. Some have said that a New York accent is the most effective method of birth control known to man. If that is true, listening to Jim Cramer may be in the second slot. It has all the appeal of a fingernail scratching a blackboard ...
   
   It could alternatively be titled, "Jim Cramer's Mad Money: Listen to it, Get Annoyed" I listened to the entire book on CD and IT FEELS LIKE CRAMER IS CONSTANTLY YELLING AT YOU!!!!!!
   
   Egads, pass me the Ibuprofen...

5 comments about Rich Dad's Guide to Investing: What the Rich Invest in, That the Poor and the Middle Class Do Not!.

1. 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



2. 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!!



3. I really liked this book. If you liked Rich Dad, Poor Dad, then you should get this book. It is very informative and interesting.



4. I like Robert Kiyosaki's idea of an eight-part model for a business. He calls it the BI Triangle, which says that a business is a system of systems. The BI Triangle is a big leap forward for all aspiring entrepreneurs. It establishes finite boundaries on what it takes to run a successful business. As far as I know, no other writer has been able to express these boundaries so succinctly.
   
   The BI Triangle's power comes from its unprecedented combination of comprehensiveness, finiteness and simplicity. Before Mr. Kiyosaki, nearly all business books were written by two categories of writers:
   
   1)Overly-specialized, non-comprehensive-thinking employee-or-consultant-gurus who couldn't see the forest for the trees, or
   2)Overly-generalized, non-educator-entrepreneurs who could see the forest but couldn't describe it in a way that was understandable to others.
   
   Seldom (if ever) is a business book written by an entrepreneur who also happens to be an educator. As a result, the business sections of most bookstores are vast collections of specialized "marketing" books written by self-proclaimed marketing gurus, "strategy" books by strategy gurus, "sales" books by sales gurus, and so on. None of these overly-specialized authors have been able put the entire concept of business together into a universal, comprehensive and succinct package - none except Robert Kiyosaki.
   
   This lack of succinct comprehensiveness within the business world is the main reason why entrepreneurship has been so scary for so many. This must have been how the mariners of Europe felt before the voyages of Columbus. Starting a new business, just like sailing off into the sunset, used to seem like a never-ending dangerous quest into an unknown (and unknowable) abyss. That's why most mariners used to stay within sight of the shore. To them, the risk of sailing into the sunset was infinite because the scope of possible outcomes was also infinite. This isn't surprising since many of them thought the earth was an infinitely-extended flat plane.
   
   But something amazing happened when Columbus returned from his adventures. He proved to his fellow mariners that the earth was finite, not infinite - he showed them that the earth was actually a sphere, and not an infinitely extended plane. The others quickly understood the meaning. That is, a spherical earth meant that it was now impossible to sail off into oblivion. In one swift stroke, this knowledge massively reduced the risk (and the fears) of sailing into the sunset. What was unknown and unknowable became knowable and most importantly, doable.
   
   Robert Kiyosaki is the Columbus of the business world. He has shown that a business, like the earth, is also a finite entity. Just as there are definite boundaries to the earth itself, there are also definite boundaries to a business. This is a monumental finding - don't be fooled by its simplicity.
   But there is an important difference between the boundaries of the earth and the boundaries of a business: the former is mainly physical, and the latter is mainly metaphysical. In other words, the boundaries of the earth can be apprehended by the senses; the boundaries of a business can only be apprehended by the mind.
   
   The key to understanding Mr. Kiyosaki's ideas is the ability to see with the mind's eye. The business world of the Information Age is a collection of inherently invisible, inaudible and weightless principles. To apprehend them we must learn how to transcend the obvious physical inputs from our senses. For example, it's "obvious" that the sun "moves" across the sky. It's "obvious" that the earth is flat. But is that really happening? The mind's eye reveals a different reality. If you want to succeed in business, then learn to embrace the version of reality from the mind's eye, not from the senses. Robert Kiyosaki's books are an excellent place to start.
   
   If you really want to understand the way Kiyosaki thinks, then I suggest you read Buckminster Fuller's books as well.



5. I have read most of the books in the Rich Dad series, and this last one has been on my bookshelf for seven years. I finally read it this week, looking for some insight into the current (10/10/2008) stock market and financial crisis.
   
   This book was harder to understand and less complete than the other books in the Rich Dad series, and the chapters on the different classes of investors was basic to me, but that is probably because I've attended a half-dozen Rich Dad seminars over the years, read the other books in the series and I've played the Cashflow game, which I highly recommend.
   
   However, I don't particularly recommend this book. This is the only Rich Dad book in which I found the writing to be stilted and phony, particularly when Kiyosaki is recreating his childhood and young adulthood interactions with his 'Rich Dad.' Instead of speaking to me deeply as the earlier books did, I found the first part of this book to be highly irritating, preachy and annoying.
   
   Any other Rich Dad book is worth buying, except for this one. Rich Dad Poor Dad will set your life on fire and change the way you think about wealth and money. This one will put you to sleep.

5 comments about The Little Book that Saves Your Assets: What the Rich Do to Stay Wealthy in Up and Down Markets (Little Books. Big Profits).

1. This book is one step short of basic. Total waste. Unless you are into similes.



2. David Darst has successfully managed to write a book that is informative and an easy read . Whether you are a novice investor or an experienced advisor " The Little Book That Saves Your Assets " should be on your desk at all times !



3. Mr. Darst must have had all of his buddies write in with 5-star reviews. I bought this book based on the subject and reviews, but it didn't meet my expectations. The title and description imply he will share HOW to balance your portfolio to weather the market ups and downs. His magic solution...allocate your investment $ to various asset classes which have a low correlation to each other (i.e. don't respond similarly to interest rates and economic conditions). How much to allocate to what classes depends on your goals and situation. DUHH! Rather than following through with real examples of asset allocation strategies which have worked for real people, he leaves you in the dark and tells you to hire a financial advisor.



4. This is the latest book in the "Little Books, Big Profits" series and was timed just right. All the books before it teach you how to invest, and this book teaches you how to keep what you've invested.
   
   David Darst is a good writer. He kept my attention and I wasn't bored. I read the entire book one Saturday night.
   
   The true value of this book is in reading the entire series. They all make up a sound investing education. All of the books in the series are good; some better than others, but are all written by financial masters. Take a piece from one and apply it to another and you have a winning formula.
   
   Overall, this book is definitely worth three or four hours on a Saturday night. But, get the other books in the series too. Each present a view that the other doesn't.



5. Save your money. This book touts asset allocation but does not provide any practical advice on how to develop or implement a plan. The book asks many questions but provides absolutely no answers!