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 Multi-Family Millions: How Anyone Can Reposition Apartments for Big Profits.

1. I have been an investor and rehabbing for several years with single and dual family homes. During this time I have read several books on Multi Family Apartment ownership. For some time I have wanted to move on to larger units but was concerned that I didn't have the knowledge to move forward. Each time I finished reading the other books I came away still feeling I needed more practical information to move forward. After reading Dave's book I came away feeling it's time to make the move (to take action). I have now started putting my team together following the advise Dave outlines in this book. So far it is working great.



2. I love this book! Dave spoke at my REI club a few years ago and I went to the 1 day seminar that followed. Dave was able to answer all my questions on the subject of owning multi-families (namely dup, tri, and quadplexes).
   I was afraid to get out of my comfort zone (single families) but when dave laid out how he felt the same fear that I did and truthfully...YOU are probably feeling I thought...F%&* it!!
   This book is a definite short cut for you. And it's a steal!! What does it cost? $15-$20 bucks!!
   Even though I regularly buy and sell multi-families and think I know it all, Dave's book has tons of chunks of meat and potatoes for me to still go through. It's works really great with the way the market is and real estate is available for pennies on the dollar.



3. This book is well written and very informative. It also got me excited about the possibilities of multi-family investing. As with most real estate investing books, it gives you enough information to get yourself in trouble if you are not careful, but there is a lot of good information that can be used as a stepping stone to get to your investment goals.



4. i have been a builder for the last 10 yrs. i only i would have known about this information simplified the way it is, i would not been working for 80 hrs., a week, with the economy the way it is right now, what we want is cash flow, and this is the machine to do it. thanks for all the info.



5. This was a well written and informative book. It included many examples of forms and real world usable information. We just purchased a 65 unit complex and the book was a good mentor.

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 The Financial Peace Planner: A Step-by-Step Guide to Restoring Your Family's Financial Health.

1. This is an excellent product to help people with their finances and establish a budget. Dave Ramsey has a great plan to help people get out of debt and stay out of debt. This should be required reading for all young people entering adulthood.



2. Although I am not yet through the book, I am very excited to start putting into practice the principals behind with in it. It is an answer to prayer!



3. Great seller, received in perfect condition. Recommend this book to everyone who wants to live debt free!!!



4. We bought these as a functional hands on book for all our employees. Our country wouldn't be in the state it is financially if more people had listened to Dave 5 years ago.



5. This is a great start to a new way of thinking on budget planning. I am working hard to cut out the clutter in my bills and mind to get it together!

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 Against the Gods: The Remarkable Story of Risk.

1. Risk Management has always been interesting to me, and learning about the history of it through this book has increased my understanding tremendously. The book is written very well, and it reads very easily for the material being discussed. I was pleasantly surprised as I delved further and further into the book.



2. There are two things that I really liked about this book, and one thing that I didn't. The good things:
   
   1) The author's vast knowledge of the financial markets, from most of a century of experience.
   2) His extensive and entertaining history of risk analysis.
   
   The bad thing:
   
   His attempts to explain math concepts that he apparently doesn't understand very well.
   
   His history of risk analysis was a pleasure to read -- from Fibonacci and Cardano, to Markowitz and Sharpe. My favorite, was his coverage of Francis Galton, the man who measured everything.
   
   Above all, the greatest value in this book is that it's packed with the author's knowledge of finance, from 63 years of experience. He's 89 years old now, and appears to still be going strong.
   
   This book is well worth reading.
   
   My favorite quote from the book:
   Today's hero is often tomorrow's blockhead.(pg 297)



3. Against The Gods is a popular account of the history of financial risk management. The author takes us through a journey of discovery spanning almost a thousand years, from the introduction of Arabic numerals and the concept of zero, to the most sophisticated derivative instruments of modern finance. At each point in history when a great leap forward was made, the personalities involved are introduced, and the advances they are credited with are explained. All throughout, mankind's age-old struggle to measure and control uncertainty is seen to stumble time and again against the same, seemingly insurmountable problem: There is no guarantee that what happened in the past will continue to happen in the future.
   
   The book is highly recommended for anyone seeking to understand the origins of modern risk management and what the concept of risk really means.



4. My friends and colleagues have a hard time believing that one of the most entertaining books I have ever read is about risk management and probability. Yet, Peter Bernstein's masterpiece bestseller is just that. By tracing the development of risk through the ages, he sets the personalities of the key innovators against the background of the times, and shows the practicality of what they did and how it changed the way we look at the world.
   
   Most of my favorite mathematicians are profiled here, in witty and digestible bites of prose that often read more like a novel than a business book. The chapter titles themselves bear witness to the delightful style of the author: The Man with the Sprained Brain, The Measure of Our Ignorance and The Fantastic System of Side Bets are just a few examples. The segues between chapters and sections are also very well-done - creating a bit of suspense and making this quite a page-turner.
   
   With apologies for seeming trite, there is a high probability, at little risk, of reaping a great reward from the story told by Mr. Berstein.



5. I read this when it came out and thought it was pretty good. The first half, about how people figured out how probability worked, was really entertaining. The end, about how the geniuses on Wall St. conquered risk, is so wrong it's hilarious. Bernstein is a victim of what Taleb calls the ludic fallacy -- mistaking well-defined games like craps for the truly unpredictable.
   
   So go read "The Black Swan" or "Fooled by Randomness" instead.

5 comments about Personal Finance For Dummies, 5th edition.

1. Thought the book brought things to light I knew that I was in trouble this book just made me see more clearly how to try to fix things.



2. It's just amazing. Every other theme not too well understood is explained with clarity. Website references are a plus. If you have no idea of most financial concepts, what they mean and how to understand them this is a good starter tool.



3. This is such a great book, I will probably by a copy for my eighteen year old sister. The book provides valuable information that is valuable at any age, but even better if she can learn now. Great practical tips on debt management, saving, budgeting retirement, etc.



4. Ok...so I'm a smart guy, but the in's and out's of the financial world always seemed more like Harry Potter's dark arts class than something that would ever make sense to me. I'm happy to report that this book does a fantastic job laying it all out in a way that makes perfect sense. I now have greater confidence in assessing my financial options, which is all anyone really needs. I recommend this book strongly.



5. I like the book, but wish it were less repetitive. I think that Andrew Tobias' book, The Only Investment Guide You'll Ever Need, is more succint. I wish that he would update it given the new state of the economy. 3-4 years makes a huge difference in tax laws.

5 comments about Stock Investing For Dummies (For Dummies (Business & Personal Finance)).

1. Like it says, it's stock investing for dummies. Not only will you get explanations for key terms that you will encounter, you also will be taught how to look at numbers on a balance sheet, and decode what story the balance sheet is telling you. The way this book is written is very novice-friendly, you won't have to worry about being lost or not being able to understand some words. I can see how the more "advanced" investors might flip through the pages going "I already know that...." But like the title says, It's for dummies. If you know nothing about investing and want to know more, this is a great start. However, If you want to take it to the next level, I recommend a successful mentor.



2. This book is fantastic. It covers all the basic fundamentals, provides resources to learn more about every area, and covers every broad aspect of evaluating a company. You learn about company fundamentals, accounting formulas, economic indicators, political signs, trends, and much more. Probably the best beginning book on stock trading I've read, and I have read many.
   
   Not only that, but the author's results speak for themselves. The 1st edition was written in 2005, and he made several predictions, every one of which came true. In the book he mentioned that according to his research silver would be in very high demand in the next few years - then showed the indicators to prove it. Silver then went on to go from $7 to $17 currently, over 30% annual growth. He accurately predicted the internet stock bust in 2001, the housing bust, the rise of silver, the rise of oil, the collapse of financial service companies, and the rise of commodities.
   
   Obviously results alone don't mean anything, but when taken with the strategies he teaches, it's very clear that this guy knows what he's doing.



3. I liked the book and thouht it was really good, some stuff I didn't think about was menioned in this book, even though its for Dummies :-)



4. It has basiclly very much everything to know about stocks. For newbie like me, I'm glad that I got this book. It shows u from buy to sell stocks and what matters would happen.



5. Time is an important asset. Invest your time in this excelent masterpiece, it will be your first good investment of many.
   
   Two considerations:
   
   Specalutors are not welcome here, this is pure investment for dummies. Aggresive tactics only in a conservative macro-enviroment.
   
   Investment could be very hard if you like, but like all things in life, it is best to keep it simple. Paul's book will be always in your hands when your strategies became too complex, heping advanced investors return to the basics.
   
   
   (Sorry for my english, is not my primary language)

5 comments about Rich Dad's Advisors®: The ABC's of Real Estate Investing: The Secrets of Finding Hidden Profits Most Investors Miss (Rich Dad's Advisors).

1. Very simple to read and understand. Practical sound writen plans for real estate investing. Do recomend this book for any one interested in learning the real life basic's in begining real estate investing as a business small to large. Realistic reading of expearance. Made very good since. A straigt forward book of good information.



2. This was a thorough book. The author has real-life experience doing exactly what he writes about. He gives excellent advice on how to find the diamonds in the rough, and how to do 99% of your research BEFORE you spend a dime. I recommend this book to anyone in the industry. Fabulous!



3. This is the first book in the Rich Dad series that actually tells you how to find, buy and manage apartment complexes. The author writes the entire step by step process of locating a good market and a good deal.
   
   The disadvantage is that the step by step process is written in paragraph form, not outline form, so that makes it a little harder to go back and find the step you are looking for after reading the book.



4. This is more of a book on how to run a real estate investment business than what you traditionally find in real estate investment books. I would not recommend this book for beginners or even amateurs because there's no way you'll be able to raise the millions needed for investing in huge complexes from investors without a lot of experience. I certainly wouldn't give a million dollars to someone that's never purchased and managed a large complex so they could learn with my money.
   
   I believe this, and his Advanced Guide to Real Estate Investing, are great books for investors that are moving from single and multi-family residences to large complexes. But I just don't bite off on any Joe Blow being able to raise the capital to do what he's teaching.



5. After all its the 'ABC', for beginners. Would take a couple more books to get to 'XYZ'. Its great for those who are interested in the real estate investing and want to know what its about (this book only talks about rental apartments, not houses or condos). For people who are already in the business this book will only point out the obvious. It doesn't cover all of the aspects of real estate investing. Well, no book does. It serves more as a guide, touches on the surface of 1) finding deals, 2) how to investigate a property, 3) how to come up with the price of the property, 4) a little bit on how to manage rental apartments. It doesn't cover on other important topics such as 1) funding, bank loans, financing and morgaging your property 2) taxes and 3) market researching.