5 comments about Fire Your Stock Analyst: Analyzing Stocks On Your Own (Definitive Guides (Financial Times/Prentice Hall)).

1. Harry Domash, entrepreneurial investor, has laid out methodologies for analyzing stocks that any investor can follow. I would recommend his book to anyone who manages his or her own investments. Everything of importance for stock analysis seems to be covered with descriptions of where to find data and how to manipulate it. Of special interest to myself were his sections on estimating stock values and on determining a business' financial fitness and profitability.
   
   In his section on stock valuation he expresses disdain for conventional intrinsic value methods based on discounted earnings flow, claiming that stocks have no intrinsic value other than what someone will pay for them. In their place he offers two alternative methods: (1) implied earnings growth and (2) growth at a reasonable price, (GARP.) In both methods earnings growth is key. For (1) he obtains implied earnings growth from Benjamin Graham's intrinsic value formula by equating that value to current market price and solving for the (implied) growth rate. A reasonable approach but any such valuation formula could be used, including one of the maligned discounted earnings flow formulae. Domash gives no reason for his choice, but Graham's formula is simpler - a questionable criteria in the age of the computer. For (2) earnings growth is obtained from analyst's forecasts. The use of this alternative to his implied earnings growth is unexplained.
   
   In his sections on financial fitness and profitability he compiles a collection of recipes for determining both. His `cookbook' approach seems to be the industry practice. (see B. Graham & C. McGolrick, "The Interpretation of Financial Statements") I had hoped for a more logical flow to the process, but since there may not be one Domash can't be faulted for lacking it. Maybe he could develop such a flow for his next edition.
   
   In sum, Domash's book left me a bit perplexed, but what I found was comprehensive, informative, useful, interesting, and well worth the price.



2. This book is well written, simple and easy steps to analyze any stock traded. It is written in easy language and very simple steps. I use it in my investments class with my college students and I have had great feedback from my students. So much so that many of my students have moved on to banking jobs and they carry this book to their trading desks with them.



3. 
   I liked this book very much. But I did not love it. Hence, the 4 star rating. To me the book sounded like a crash course in what is involved in doing due diligence during a merger and acquisition project. People who are interested in learning a lot of what must be done during due diligence will greatly appreciate this book. And I suspect any wanta-be entrepreneur will get a lot out of this book, too.
   
   The book is overflowing with content. And I thought it was very logical and pretty straightforward. However, if I really want to get the full benefit this book has to offer me, then I will have to go back and outline each of the chapters. There are just too many asides thrown in during the writing that I feel as though another drafting or two of the book would make a world of difference in how easily it can be read and digested on a first read.
   
   Arguably there were too many examples of real companies because they tend to date the book. And the title was off a little for me since all the subscriptions necessary to do what the author suggests can cost a bit. Probably my favorite aspect of the book was all the online resources that were cited and explained to be used as tools when researching and analyzing companies from a value (undervalue) or growth persepective.
   
   Certainly this book provides one way (and a good one at that) to look at stock analysis. But there are other takes on this same subject. I recommend someone interested in the subject matter definitely read this one, but also seek out some other tomes, too. 4 stars!



4. The Book is exactly correct on what needs to be done. I wonder if Stock Brokers really do all of these things.



5. Domash has done it. This is the book that covers everything you need to know abaout analyzing a stock. And that is what makes the book "the best" book on stock investing. Many say that Graham's Intelligent Investor is the best, but I think it is not, since although valuable all it does is giving you a bunch of screening criteria at the end of the day. This is coming from a person who knows the CFA curriculum inside out!!
   
   The book covers many areas from equity valuation to detecting financial shenanigans, from Porter's five forces to technical analysis. Of course, all of these subjects can not be covered in detail in a 300 page book, but beginners will find most of these information quite interesting and valuable. Experts and professionals, on the other hand, will not find a new info on this book, but they will still benefit from the presented methods and the system on analyzing stocks.
   
   If I have to add few negative comments here they are:
   
   1- Domash stirictly differentiates between a "value stock" and a "growth stock". So a stock can't qualify to be both. I don't believe any stock investment can be so black and white.
   
   2- Target price forecast: I would like it if Domash also covered DCF valuation models like FCFE and FCFF. But then it would be necessary to explain the concepts such as equity risk premium, WACC, growth assumptions, terminal value. It would have added maybe 30 more pages. Links between balance sheet, income statement, book value, dividends so on.. is not explained. A beginner may find some lose ends reading the book.
   
   3- Forecasting sales and margins requires a little better research I think. By just looking at the trend, analyst forecasts and saying "I am assuming that the company will not grow in 2002 but it will resume its growth in 2003" is not very well justified. But the idea clear only you have to do a better research.
   
   4- I would also like to see financial models done on a spreadsheet for demonstration.
   
   This list could go on but then I would be unrealisticly expecting too much from a 300 page book. So I will stop here. Nontheless, I don't say this cliche often, and I say it now. This is a MUST READ for any non-pro individual who is interested in equity analysis.

5 comments about Grow Your Money!: 101 Easy Tips to Plan, Save, and Invest.

1. I really like the tips in this book. They work for all ages from someone just getting into learning about money to retirement. It is easy to read and you can skip around as you need to. I only give it a 4 because I wish a few tips had some more detail or at least suggestions of where to get more detail.



2. Before you give it as a gift, take the time to read it yourself and mark half a dozen pages that you consider are of special value to the recipient. It may stimulate them to read more. Oh yes, and don't forget to buy yourself a book also.



3. This is a wonderful educational book on numerous areas of personal finance. It includes topics such as:
   
   Buying and Maintaining a Home
   Profiting from a Fabulous Career
   Reducing Taxes
   Investing in Stocks, Bonds and Real Estate
   Retirement Planning
   Estate Planning and Insurance
   Educating Children about Money and Personal Finance
   
   This is the most comprehensive finance book I've read and it's easy to read with some humor thrown in here and there. The author uses numerous detailed examples to illustrate his points which really help the reader understand the ideas. The book also has a companion website where the reader can go for more information or more up-to-date information as this book ages.
   
   This is not a book that has to be read cover-to-cover. I did that, but if you want to find topics relevant to you, the author includes an age-based checklist in the front. I also really like that the end of the book includes a checklist by month of the things you should be doing throughout the year. It makes keeping up with your finances look less daunting!
   
   The author made it easy for me to come away from the book with my own "To-Do" list, so I definitely got something out of reading this book! I also gained some new perspectives on certain areas - for example, it's a good idea to plan for early retirement because some people plan to retire later, but end up having to retire early. (You don't want to run out of money) I think the author has good insight and great ideas and I agree with his financial strategies.
   
   Great book for all to read!



4. At last, there is a book for the nonfinancially astute that discusses money matters in such a clear, understandable way that it motivates people to apply some of the 101 tips to their own situations and look forward to a richer future. In GROW YOUR MONEY 101 EASY TIPS TO PLAN, SAVE, and INVEST, Jonathan D. Pond covers every aspect of handling income from first allowances to honoring heirs in estate planning. The book is a fluent reading of investment topics sprinkled with humor and illustrated with basic arithmetic. Points are well formulated, inarguable, and easy to implement. They give hope to everyone, no matter what stage in life nor how many resources to squeeze for more value. Besides the book itself, the author maintains a website for readers to get most up-to-date information for individual needs.
   
   Everyone has to think about how they will manage money, but it is difficult to find uncomplicated material for advice. And, as the author points out, financial experts give confusing explanations that can be biased in a way that will "grow more money" for themselves from fees, sales, and/or commissions. Best objective advice is in this book. I was particularly impressed with advantageous tax savings I can take and would not have known about. I also was relieved to learn how to make affordable sound investments with a limited budget and without the risk or difficulty I previously imagined.
   
   This is a book that will benefit everyone. It is a "must have" for every household, basic for a secure financial future.



5. nothing new, everything was said before, and was said much better before in other books. i am really disappointed. consider buying another one if you can.

1 comments about Asset Allocation, 4th Ed.

1. Asset Allocation is a well written informative book. It explains the theory behind allocation strategies and the math and examples are comprehensible for readers, such as myself, without a formal finance background. The book stops short of recommending specific allocation plans for the reader, but it certainly gives the raw tools for the reader to make more intelligent choices about proper diversification methods.

2 comments about Beat the Market the Easy Way!.

1. The new book by Sy Harding, called "Beat the Market the Easy Way," regurgitates what was said in Sy's last book called "Riding the Bear," with the exception of a new simple formula to invest in Nasdaq index on a long term basis, exploiting the four year electional cycle. As usual, Sy has many good points to make and his crusade for the ordinary Joe investor and against the Wall Street establishment has great validity. The tone of the book is somewhat patronizing for someone sophisticated. It is perhaps adequate for the average Joe who should find in the book a lot to learn about investing. Overall, the book should be a great useful tool for the uninitiated and should teach a trick or two to the sophisticated. I would recommend the book highly for its readability and useful guidance on a vitally important topic of investing. A lot more poeple should pay attention to investing than those who do and Sy's book is designed to help them in a genuine spirit.



2. The blurb on Mr. Harding's book says "A must-have book for investors!" Is that ever true! I have read many, many books on markets and investing. This one is by far the best, most informative, and useful I have ever read.

5 comments about Risk Analysis: A Quantitative Guide.

1. This book gives a deep insight into the state of the art and recent developments of quantitative risk analysis using simulation methods. Describes topics such as second order risk analysis I never heard about before. I used the knowledge drawn from this book to write some technical papers (published on peer-reviewed journals and seminars proceedings). Specialized software, such as @-risk and crystal ball is not strictly needed to carry out the risk-analysis systems suggested by the author (but pretty advanced skills with excel or use of math softwares are required). The specific subject of the book is risk modelling by Monte Carlo Simulation and Bayesan analysis; it does not deal with fuzzy models or other uncertainty-propagation methods. I highly reccomend this book to anyone interested into the specific subject.



2. Unlike in the first edition, the author seems to have tried his best to eliminate any reference to any simulation software in the second edition. Result: it now reads like any academic simulation text, only less. The first edition wasn't broke. Why fix it? Bring back the classic Vose!



3. I believe that this book is the best of many Risk Analysis books. The book's structure, starting from fundamental topics and guiding to advanced topics, is excellent. So, I translated this book into Japanese! You will make the best use of the book with Excel add-in Monte Carlo simulation software like @Risk and Crystal ball that you can get its trial version from the vendor's site(free!). But, the value of this book is not decreased with its sophistitated notation even if you don't have such software. You can enjoy the logic of Quantitative Risk Analysis. Now, the author is preparing his original software. I hope it will be as valuable as this book.



4. A very good book, but a bit too much mathematical detail in deriving formulas for probability distributions; could use better descriptions of when to use each probability distribution.



5. This book is not for the faint of heart - you should know statistics and have a very solid math background before you attempt to crack open the cover. While primarily focused on risk analysis within the finance and insurance industries, the principles outlined within can be carried across to other fields such as high-tech fraud. The probability calculations, Monte Carlo simulations, and other means of determining likelihood of an event occurring are all covered and will confuse the novice. Containing a slight bias towards Vose consulting services (where the author obviously hails), this book also points out what above-average risk consultation services should do for you, as well as what you, as a hiring manager, should expect.
   
   All in all, I find this to be a great resource, and look forward to sharing the book with others in my department that are mathematicians and can truly appreciate the content.

4 comments about Principles of Project Finance.

1. This book is a great reference .....the tables, the schematic drawings...great tool for finance professionals.



2. The Best book for fundamental theory of project finance, integrated and described overall, a guidance to plan a project finance.



3. Very comprehensive and very clear; after reading this book you know what project finance involves at a good level.



4. Good book with the basic information you need to know about the topic. However, it's expensive.

5 comments about How to Think Like Benjamin Graham and Invest Like Warren Buffett.

1. Gives you insight into the two greatest investors of all time think and handle their investments.Financial Statement Analysis: A Practitioner's Guide, 3rd Edition



2. THE BOOK IS GREAT. THE SERVICE FROM AMAZON WAS BAD. PAID EXTRA TO EXPRESS SHIP AND IT ENDED UP TAKING 2.5 WEEKS AND AMAZON DUMPED THEIR RESPONSIBILITY ON ME TO WORK WITH UPS. WISH I HAD GONE TO THE BOOK STORE.



3. One of the most interesting books I've ever read on investing. Easy to read and understand the principles and investemnt criteria using by an outstanding value investor : Warren Buffett...



4. The title is what lured me to start reading this book.
   Basically, the book is FULL of long difficult words and by no means conversational or "fun" to read. It requires the reader to concentrate intensely in the later chapters to understand the message. The book only briefly mentions a few select thoughts by Graham and Buffett and misses a lot of the important insights and timeless wisdom of both men.
   This book is more focused on the authors aspect of value investing and can be seen by his detailed (and unnecessary 20+ pages) of corporate governance and macro economics.
   
   I don't know whether he was trying to write a novel here with all sorts of metaphors, adjectives and 'colorful' descriptions which does not make sense when related to finance and investing.
   
   Better value investing books out there for sure.



5. The author pretends to sound sophisticated throughout the book. I was able to skip paragraphs and still get the main ideas. My middle finger to the author!

3 comments about The Emerging Markets Century: How a New Breed of World-Class Companies Is Overtaking the World.

1. This book is poorly branded in my opinion, just like what is said about the authors original idea on Emerging markets vs. 3rd world.
   
   This book is totally under rated, and under subscribed., do yourself a favour and open it up and read a few random pages, you will soon realize how clearly the book is written, and how compelling and refreshing the ideas are that are presented.
   
   This should/could be a best seller in weeks, but has not been promoted effectively in my opinion.
   
   Antoine, whats with the poor branding again ? You need a new cover design, and maybe new title. Go onto CNBC TV also. Your book is incredible but people won't pick it up based on its visual appearance.



2. In 1981, fund manager Antoine van Agtmael created the term "emerging markets," as opposed to "Third World," to describe developing countries, from Brazil to China. A pioneer in emerging-market investments, he describes the economic revolution being provoked by corporate activities in emerging markets. Van Agtmael enumerates the forces driving this transformation in the economic relationship between developed nations and their emerging-market counterparts. In the second half of the book, he shares his detailed research into the factors that make emerging-market companies notable and successful. He catalogues market details about 25 specific companies he has analyzed for investment purposes, and presents the lessons they can teach Western managers. We recommend this book to serious investors who want to know about promising non-U.S. companies, and to managers who want to read about their corporations' upcoming competitors - and potential future owners.



3. The author did a very good job in showing us how some companies from emerging markets have become powerful in their own right and sometimes leaders in their market.
   He describes different strategies and gives us examples of companies that followed those strategies.
   
   However, his book lacks depth for the amount of pages it has. In all fairness, a book with only a hundred pages could have had the same message and the same effect.

No comments about Trading Without Gambling: Develop a Game Plan for Ultimate Trading Success (Wiley Trading).

5 comments about A Master Guide to Income Property Brokerage : Boost Your Income By Selling Commercial and Income Properties , 4th Edition.

1. Mr. Peckman methodically and clearly outlines the details and keys to make the move into Income Property Brokerage a success.
   
   It's always nice when you learn from someone who has gone through the steps to reach success and isn't reluctant to share them with you and can do so in a mentoring kind of way.
   
   Highly recommended.



2. There is no doubt that Jack knows commercial real estate and Jack knows the Internet. So if you want to improve your knowledge about Income Property Brokerage and Online Marketing, do not hesitate to buy this resource. When you can learn from someone who has walked the path before, you know you are getting valuable information directly from the horse's mouth. This is one of those rare events. Jack's steps and tips worked for him and they can work for you.
   
   Stefan Swanepoel
   Thirteen time author including
   Real Estate confronts Reality (1997) Real Estate confronts the Future (2004) and Swanepoel Trends Report (2007)



3. I had the opportunity to preview this book just before its publication. If you are either running or starting a commercial real estate brokerage, this book is a must-have! I personally am using much of this book to take my relatively small real estate brokerage to a new level. Great ideas go along with many pragmatic and practical tips. I refer to this book often in my staff meetings.



4. Jack Peckham shares so much valuable knowledge in this book you are crazy if you don't buy it. Jack is one of the special people in the commercial real estate industry. He is always trying to share his vast knowledge and skills to make people better. Thank you Jack.



5. This book lays out a foundation in income property brokerage. His new edition includes lots of internet and web based examples that were excellent. A very good book!