2 comments about Public Finance and Public Policy.

1. My Dad's book is awesome! Maybe I'm getting ahead of myself. My name is Sam Gruber, and my Dad is Jonathan Gruber. Seriously. I'm not kidding. I swear. If you don't believe me, ask him. Anyway, the reason I liked this book is because he used my name in it 25 times! (he counted.) I also liked the colors. I really like the cover, because I helped my Dad pick it. All in all, my Dad can write very well, and if he doesn't write another book, well, I'll make him.



2. An excellent textbook for an upper level course for economics majors. There is a lot of inertia in textbook choice, but I was finally convinced to adopt Gruber's book when I served as the Lecturer for Stanford University's upper-level seminar in Public Economics. The textbook has high production values and of particular note is its timeliness in covering both current policy issues (Social Security Reform, Fundamental Tax Reform, Education, etc.) and current public economics research (Political Economy, Behavioral Economics, Contract Theory, etc). Most textbooks on the market offer a very dated view of Public Economics, especially in terms of current research. The book explains the findings using intuition and graphs, but provides mathematical detail in mathematical supplements for the ambitious reader. The accompanying website also provides impressive PowerPoint slides. The student response to the textbook was uniformly positive.
   
   The only downsides are the hefty price tag, worsened by the limited secondary market, and for those who want a more mathematically rigorous treatment in courses that require calculus and optimization, the included supplements were helpful, but still limited.

5 comments about Japanese Candlestick Charting Techniques, Second Edition.

1. The book by Steve Nison is certainly an indispensable tool for anyone who wish to invest their hard-earned cash in the stock market. It prepares you before you decide either to purchase, or sell, to stay or leave.



2. I went to a Steve Nison seminar first. Once Home I bought his book to review. The book is very informative. Well worth a Few reads and study.



3. I am a begginer in studying the financial markets and I found this book great because besides japanese candlesticks I learnt about western technicals too. The subjects are well explained and easy to understand.



4. If you want to learn candlestick stock trading this is the only
   book you will ever need. It's very good. It has lots of pictures.



5. Steve Nison is truely the father of Japanese Candlestick into the western. He explained why candles are made and how the candle can be a signal to get into a trade and when to get off. The convergence of East and West makes my trading more manageable and honestly, I have "profit"-ed after reading this book. Very highly recommended!

5 comments about Trading for a Living: Psychology, Trading Tactics, Money Management.

1. This is a very good book. There is lots of bright ideas in it. You want to read it many times to take advantage of it completely. After you read this book. Read " What I Learned Losing a Million Dollars"What I Learned Losing a Million Dollars. This is also a great book that you can't afford missing it. You will be able to get prepared for trading successfully after finish reading both books. Best luck trading to everyone.



2. This is a great book. Elder covers the psychology of trading and crowd behavior, risk management, and technical analysis. Written for the novice and intermidiate level trader, its all in this book.



3. This is definitely a classic for all time.I wished I had read this book 10 years ago...



4. I bought this book 7 years ago when it was one of the bestsellers in the trading book catergory and I am suprise to see today that its still one of the best sellers.
   Serious, I don't think I really get a lot out of this book and I don't understand why people are so crazy about it?? One reason I can think of, maybe it is a good book for absolute beginners who has no idea about trading what so ever.
   But if you want to learn more about trading, ie. the skill to use, the way to manage your money. You will be very disappointed. Throughout the years, I read a lot of trading books which offer way more than this one.



5. The first audience that will find this book useful consists of those new to trading. Elder provides a good overview of technical analysis, with chapters on charting, trendlines, patterns, and some well-known indicators such as MACD, momentum, Stochastics, RSI, etc. He doesn't overwhelm the reader with information and he also provides trading rules.
   The second audience, people who have been trading a while and who have survived long enough to know they need to find out some more about psychology, probably won't find those chapters as interesting. But his chapters on psychology, both individual and mass psychology, are very helpful. He identifies what makes a winning versus losing trader and his chapter on risk management is outstanding. He discusses emotion and probabilities, money management, and how the professional trader must look for quality before money. One thing he stresses is that you must learn from your trades--the trade isn't over when the position is closed out. This constant study is what will help you change and improve. He also writes in an easy to understand manner. The only reason I gave this four stars and not five is that this information is that the book is very expensive for what it contains.

5 comments about Where Does the Money Go?: Your Guided Tour to the Federal Budget Crisis.

1. Where Does the Money Go? Your Guided Tour to the Federal Budget Crisis by Scott Brittle and Jean Johnson reminds readers how much of our tax dollars are returned to us in the form of Social Security and Medicare. And, every year there is more health care to buy. Brittle and Johnson also offer suggestions and recommendations for the future but the main objective is to convince citizens that the crisis has been slow in coming and will take a lot of unavoidable sacrafices. The primary focus is on America's health care expenditures while the money spent on military defense is not an option that is as thoroughly examined.



2. This is an excellent book which describes in understandable terms the problems with the federal budget deficits and growing national debt



3. Even as a CPA, I had never really thought about what the country's national debt (over $9 trillion and climbing) meant to me and future generations.
   
   You don't have to be a CPA to get something out of this book; it is written in a manner that provides nice summaries of complicated issues. Even better, it provides references so you can learn more. The book is balanced and does not appear to have a political slant.
   
   As increasing Federal deficits affect every American, I can't recommend this book enough, especially in an election year.



4. This book makes these very complex topics easy reading. As other reviewers here mention, the book spends a disproportionate amount of time on SS and Medicare, and almost no time on Defense. (My guess is because this a bi-partisan effort, and people on opposite sides of the fence tend to disagree strongly in the area of defense.) Regardless, this is a wonderful book and helped me to better understand how a lot of this stuff works. I especially enjoyed the chapter on "pork" spending -- and how it amounts to perhaps 4% of the federal budget. READ THIS BOOK before the presidential debates begin! Educate yourself so you can decide which candidates actually know what they're talking about, and which ones are blowing smoke. Our country is facing serious fiscal problems and they are not going to just magically go away.



5. The awful truth is that we have been fooling ourselves and we have let ourselves be fooled, both voters and politicians themselves. Fooled ourselves into thinking that the finances of the United States are just fine.
   
   This book tells us what a financial disaster awaits us the next few decades. The worst thing is, apparently it is not even a major theme in the current presidential election, because we have picked presidential candidates that are not strong in economics. Another four years from now, we will pick someone who is strong on economics, and then start doing something about it.
   
   The book is mainly making us aware of roughly what are the issues. That is accomplished in the very beginning, and after that the authors keep repeating the same points in different words, which I thought was somewhat boring. Yet, it is nicely written, it's got nice anecdotes here and there, and in the end there is more information on what our options are. It would have been nice if they went a little bit deeper into the matter, to explain even more about how things work, etc. But the authors kept it simple and easy to understand, and maybe, as voters, we only need to know a simple thing that the government needs to do, and we already knew this for ourselves: When in debt, you need to get more money and spend less!
   
   The most difficult thing will be to actually vote for a candidate who dares to talk about tough financial issues, as opposed to most candidates who seem to be all charisma and vague promises, and when elected, let the next president clean up the mess.

3 comments about Fiscal Administration.

1. Public Budgeting Systems by Robert D. Lee, Philip G. Joyce, and Ronald Wayne Johnson is written more clearly... if you have a choice, buy this book. The problem with Mikesell is that he has to write 200 pages (six chapters) to explain the concept of revenues in the budget process. Too many trees were wasted in the development of this book. Lee, Joyce, and Johnson can do this in 40 pages.
   
   The greater majority of my Public Budgeting Systems class at George Mason University feels that the Mikesell book is written in a manner to lull oneself to sleep... the benefit is that one could read the book rather than using drugs to induce sleep.
   
   However, if you are required to purchase the Mikesell book, you should go to the Amazon UK web site and complete your transaction there... you can save yourself about 70 to 80 dollars.



2. Although big (and pricey) this book contains very good illustrations and explanations of financial and budgeting concepts and principles. A must have for serious students in graduate programs.



3. This book is written so poorly I can barely get through it. Mikesell goes on and on with run-on sentences, excessive details that get in the way of the concepts, and very poor organization of the concepts. He shifts styles, meanders off topic, and fails to get to the point. He also uses very few graphs or illustrations. Instead, he includes large tables of numerical data (rather than a chart, like a pie, line, or bar graph, that would bring out the important message).
   
   Even though it's in the 7th edition, it reads like a rough first draft. It needs major revision. In order to get through it, I skim for the ideas and skip a lot of the text. When I try to "read" it (i.e. every word), I get so bogged down, I can't move forward and I don't retain much. Mikesell obscures the main concepts in a haze of excess words, unhelpful information, and pervasive use of the passive voice.
   
   Unfortunately, I have to use this book for my graduate Public Financial Management course. If you have the choice, find something better.

5 comments about Financial Peace Revisited.

1. I wish I would have read this book twenty years ago! It will be required reading for my kids.



2. Ames, your review of Financial Peace is so full of jealousy and resentment it is truly sad.
   
   "When Dave Ramsey can live off of $24,000.00 a year, and have a family, then perhaps I can listen to him." He's actually had to live off less than that in the past and even went bankrupt before he got his act together. So he's walked in your shoes, didn't like how they fit, and decided to DO something about it.
   
   "However, I believe in putting my family first. That does not include getting two or three jobs to pay off debt, and make my family suffer; no way!" Great job, Ames! Way to use your family as an excuse to be lazy and mediocre! By getting out of debt as soon as possible, you ARE putting your family first! Have you ever heard of the notion of "short-term suffering for long-term gain"? Obviously not. Dave isn't saying go get three jobs for the rest of your life and neglect your family. He's saying if you have to get three jobs for six months or a year or two to get out of debt, so be it. So what if you miss out on some time with your kids? Your wife should be their primary caregiver anyway! As the man and head of your household, your primary role is PROVIDER, not loving caregiver. By getting your family out of debt, budgeting, investing, and giving, you're giving your kids an example to follow for the rest of their lives - something far more important than "playtime".
   
   "Dave claims to be a religious man, and if that were the case, he would realize that the Bible says that family comes before the love of money (as well as a few other things)" No, he claims to be a Christian, and all of his ideas and attitudes about money are Biblically sound. Nothing about Dave's plan advocates the love of money. It advocates the responsible stewardship of what God has given us, caring enough about our families to not be broke, and generous giving.
   
   "And finally, the man makes hundreds of thousands a year. I just can't follow the words of someone who does that and expects normal people to live." No, he makes millions a year and he deserves every cent. So you must only follow the advice of "normal" people, right? If two people at the same level just keep taking one another's advice, they'll both stay exactly where they are. An intelligent person finds those who have done better than himself and follows their example. But you just go ahead and keep following the advice of "normal" people - I'm sure you'll keep raking in that $24K a year - hope you're satisfied with that. Nothing about Dave's plan involves being normal or average. Normal people use credit cards. Normal people don't have a clue what discipline and restraint are. Normal people fight about money and get divorced. Sounds great to me, let's all be normal! No thanks, I'd rather live like no one else so that later I can live like no one else!
   
   What it comes down to Ames, is that you don't have the discipline, desire, or sense of responsibility necessary to do anything different from what the average American does. So stay mired in the muck of mediocrity with all the other normal people - I'll be sure to wave to you on my way up to something better for me and my family.
   
   Financial Peace gets 5 stars, Ames' review gets the goose egg.



3. This book is a good first step towards Financial Peace. This book explains an overview of Dave's history, and how to find Financial Peace. Ramsey's next book "Total Money Makeover" explains in more detail HOW to find Financial Peace.
   
   This book is written as a high-level primer on how you'll proceed towards a debt-free life. It's not needed if you visit www.daveramsey.com or listen to Dave's radio show, but serves it's purpose.



4. I checked this book out from my local library. It has changed my life and finances for the better. I am in far better financial shape now than when I was addicted to debt. I bought Dave's other book for my brother and I am now buying this one for my neice's wedding. I just wish that someone gave me this book 22 years ago when I got married!
   
   I approach is simple. Get out and stay out of debt using his baby steps. I recommend listening to his radio show to help reinforce the principles of the book and provide encouragement.



5. I have read 4 of Dave's books. I would rank this # 2 behind The Total Money Makeover or the Workbook version of the same title. The concepts are similar to the Total Money makeover but less examples of how to do things and how to put into practice versus The total Money makeover. On that basis, I would recommend reading the Total money makeover first, then this one for other insights. This book does still give you the groundwork of how to do it (get out of debt) and put into practice healthy habits that will make you rich over time.

5 comments about Technical Analysis of the Financial Markets: A Comprehensive Guide to Trading Methods and Applications (New York Institute of Finance).

1. 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



2. 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



3. 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.



4. 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.



5. 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.

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

1. Dave Ramsey hits it on the head - I wish I had read it at 18 years old. Personal money management can be tough, but this book (as well as all the Dave Ramsey books) gives very clear, concise instruction on how to manage your life's fortune (or how to create a life's fortune).
   
   He is hysterical and animated - It's easy, fun reading.



2. It helps to see budgets in black and white and be reminded how simple it is supposed to be for us.



3. Dave Ramsey speaks from experience. He is incredibly black and white, and full of faith. I actually did some of the things he recommended in the past when I was younger and had debt, and not only did they work, they gave me an incredible sense of control.
   
   This book is a very approachable method in reviewing and planning your finances. It is intended to be used by implementing a chapter a week, but if you have already accomplished the beginning items, you can move a bit faster...as long as you pay attention to the lessons you are skipping and are sure you understand them.
   
   The characters he uses for illustration purposes are one dimensional, but readers can easily see themselves or those close to them in the characters.
   
   The workbook is NOT BORING, NOT DRY, and easy to understand. It can be used in conjunction with the Financial Peace (or Financial Peace Revised) book, but works well on its own. After reading it, if you are understanding that materialism is good, but not to be worshipped, you can accumulate a good bit of wealth in a reasonable period of time.
   
   The book is very motivating. Anyone can understand it, anyone can use it. You don't have to be broke, up to your eyeballs in debt or bankrupt to appreciate it. In fact, you'll have a leg up on those who are.
   
   If you are looking for a way to plan you future, are facing a promotion and want to be wise with your money, or are just interested in a basic, non-threatening way to learn about home economics and investing, this is the book to read.
   
   Comes with great forms to help you evaluate equity, learn about your household budget (he calls it a 'cashflow' plan), percentages of income should be dedicated to what expenses, etc.,etc.



4. 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.



5. 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!

5 comments about Your Money or Your Life: Transforming Your Relationship with Money and Achieving Financial Independence.

1. From its definition of money--life energy--to its activities, Joe Dominquez and Vicki Robin's Your Money or Your Life is the book that puts things in perspective, so that anyone who picks it up knows what he or she can to do create a powerful life. My son balked when he first picked up the book because it is labeled "Self help." After reading a few pages, he decided the book was much more. The exercises reinforce the overall theme--because it is a theme that permeates the book--you have to know what it means to live to have a life! In addition, the book introduces its readers to a list of organizations with an abundance of resources, including a variety of study guides created for use with students, associates, and church groups. I recommend reading Your Money or Your Life several times and sharing it with family and friends.



2. 
   Out of all the financial books I've read so far, I believe this one is the one that speaks most to my values and beliefs about finances. Instead of preaching about how you can have it all, the authors discuss the value of frugality and recognizing when a person has enough. The authors have nine steps in their program and each step is designed to help you make your way to financial independence and intelligence by asking yourself what your really getting out of your spending habits, and also the way you live your life. The authors posit that it is entirely possible to retire earlier in your life provided you know how to live frugally, and I believe this is entirely the case. I've already been modifying how I spend money, thinking carefully about what the benefit is of buying a particular item, as well as what my overall goals are. I'm already noticing some effects and I'm willing to continue committing to a program that ultimately could lead to satisfaction in terms of having enough time to really do everything that I want to do.



3. Really is a wonderful read that puts your life into control of how you want it.



4. Ok book on retirement planning. But, like all such books, it pays to be rich before you retire. Nothing of use for us "poor" souls.



5. The other reviewers have pretty much covered the content of this book. Admittedly I haven't used all of the ideas, however now I have become very aware of how I spend my money and how many hours I have to work to purchase the ever evasive 'thing I must have or die'. Totally amazing! I now realize how much stuff I really have that I really do not need. Keeping these things actually cost you more by using up your time and energy to maintain 'your stuff'
   Once you can get this change in your thinking, it's amazing how much more money you really have.
   
   Before I purchased this book, I found it referenced and recommended all over the place. That must mean something.
   
   If you're still not sure about it, get it from the library. (Yet another of their money saving ideas.)
   xox
   MEF

5 comments about Liar's Poker: Rising Through the Wreckage on Wall Street.

1. This is a great book. I mean, everyone else says so, so they can't be wrong. Yes, I want a job on wall street.



2. OUTSTANDING!! This is the single best book I've ever read for learning the basics of life in a Wall St. investment bank. Very accessible and humorous, yet informative as well.



3. this book is a must read if you are getting into the financial industry along with "when genius failed" and others.



4. An entertaining look into the life of a Salomon Brothers bond trader in the 1980s. The book offers a cursive overview of the financial innovations during that period, but the real contribution is in examination of the culture and the personalities of the Wall Street traders. Not without some embellishment, Michael Lewis does a great job of communicating the eccentricities and absurdities of the traders - 'the big swinging dicks'. At the very least, 'Liar's Poker' is an entertaining read, at best, an insightful look at what (and who) turns the wheels of our financial institutions.



5. Michael Lewis' Liar's Poker is a must read for anyone trying to understand the 2008 crisis in mortgage lending and home ownership. In fact, a new edition of the book should be published with a forward by Ben Bernake or Hank Paulson. The autobiography describes a mid-1980's newbie to Wall Street and his induction into the fraternity of mortgage traders at Salomon Brothers and junk bond traders at Drexel. This book rises above a rite of passage story because of the financial chaos which happened during the next three decades.
   
   The 41st trading floor of Salomon Brothers is where millions of dollars exchange hands in minutes. There is a blue collar culture of practical jokes, profanity, Mexican food and pizza. The characters might have come right out of Damon Runyon or Animal House. The main difference between the interns, the traders and the clerks is neither their demeanor nor education but their wealth. In contrast to other books which tell us about the best and the brightest, this book describes ordinary people with excess body fat, perspiration, greed and wealth.
   
   As more homeowners face foreclosure and the US dollar loses value, it is not clear what message to derive from this book. Were it not for these failures of economic policy the book would join other interesting stories about the rich and privileged of Wall Street. But because of this failure of oversight, the book takes us from humor to cynicism and from a sense of national pride to a feeling of national shame.
   
   Is there a ratio of capitalistic reward to risk which is unconscionable in a democratic society? Can this behavior be limited or controlled by financial transparency, tax code, money supply and credit leverage? How do we avoid these consequences of the creation and destruction of capital without moving down the path of socialism? Can we ever put to rest the saying that behind every great fortune is a great crime?