1 comments about Relationship Banking: Cross-Selling the Bank's Products & Services to Meet Your Customer's Every Financial Need.

1. The title is very suggestive but the actual content of the book doesn't satisfy the quest for information on the subject. Unless you are a begginer in this field, buy something else.

5 comments about The Compleat Day Trader II (Compleat Day Trader).

1. Having read many books on Day Trading and attended courses and seminars, this book added "confidence". It gives you simple systems to work with, 30MBO, InsideDays, Gaps, etc.. It also tells you what the indicators lack and what most traders lack to succeed, discipline. Use the 30MBO but don't change the method. Stick to it. Be disciplined. Aimed at the futures and commodities traders, these methods also work with fast high volume, high votility stocks. I emailed Jake with a question on the 30MBO and got a reply in hours, that's value. I have ordered his next book, "The Complete Guide to Day Trading Stock". Can't wait. I cannot see how anyone (who is not a beginner) would not benefit from this book.



2. Reading this book is purely a watse of your time. Buying it is absolutely waste of your money.

   The only thing you can learn from it is that the author probably makes more money by selling hot topic books than from trading.




3. Mr. Bernstein writes a book almost every month. He certainly is a prolific writer--my question is when does he have time to trade??



4. I feel that Day Tader II is really a rip-off as it basically just reguritates most of the material found in volume one. THIS is typical Bernstein -- the goal is dollars from book sales, not educating the reader. Mr. Bernstein does not respect his readers, and this is the sad part because he obviously is a highly intelligent man who probably could contribute a lot to the field of daytrading education if he weren't so needy and greedy. I wouldn't go so far as to call him "Jake the Snake", but I do think he should put more care into the content of his books.



5. Save your money. Never, never waste your funds on the drivel this author produces!!
   
   A profitable trader would never have time enough to write even one tenth the quantity of words this person produces.
   
   Find traders that actually make money to learn from. There are a few that have written good books.
   
   As starting points:
   For equities traders try: Professional Stock Trading
   For futures traders try: Trading Day by Day
   
   These are simply starting points, but are written by REAL traders, not worthless-book producers.

3 comments about High Rollers: Inside the Savings and Loan Debacle.

1. This is really a great description of the S&L debacle. He explains the roots of the failure (government-set maximum mortgage rates *below* the price of capital), the shenanigans to try to keep the walking dead alive in spite of guaranteed negative returns, plus the overall background of lending for property development. Extremely educational and a great background for the repeat performance happening now in the mortgage lending industry.



2. I doubt this book sold many copies when it came out in 1991. As Lowy notes the issue is too dull and complex for most people to care about. However his history of such quality -drilling down into the issues and more importantly personalities involved in the scandal- that those with even a passing interest should read this book. Well done!



3. This book rather rigoursly breaks down how the S&L crisis occured. It also breaks down some rather technical points and tries to present them in a manner understandable for the reader. I would admit that it may come across as a little dry and detailed for some. On the other hand, those familiar with the technical aspects of the lending and financing topics may find that same material a bit remedial. I do think that this is the best book I have read that addresses the crisis from a policy perspective. It starts with the foundation of the S&L industry and the policies put in place (and in some cases the lack thereof) that lead to its crippling collapse. It does an excellent job of detailing blame/cause but also suggests inevitability at the same time. The author does present, at various stages of the crisis, what-ifs? This presentation was done well as it was 'salted' with the feasibility of implementing these what-ifs at the time.
   
   The author has a gift of constantly putting the various topics and issues into their proper perspective. As an example, the author noted that the outright fraud committed by institutions prior to insolvency was comparatively small compared to the overall number of institutions that were failing and ultimately did fail. I would strongly urge all of those in the policy and regulatory aspect of the financial services industry (even those outside of banking and lending) to read this book as a good primer on causes of financial crises and policy (and political) steps that can exacerbate rather than resolve a situation. As the author points out repeatedly (and with well supported and sounded arguments), the crisis may not have been avoided altogether, however it could have been minimized substantially. Unfortunately, because of lack of political will, lack of technical understanding and a fundamental failure to truly appreciate human nature, the outcome was not inevitable, but doubtless.
   
   I would argue this is a must-read for congressional staffers, policy makers, regulators and any law enforcement agencies whose work involves them in the financial services sector as well as those in middle to upper level management of financial services companies.

5 comments about Bubbleology: The New Science of Stock Market Winners and Losers.

1. Despite Mr. Hassett's track record with his previous book "Dow 36,000," I saw him appear on CNBC during the early morning show and thought that he did well enough that I should buy the book. He promised that you could use his book to figure out what stocks were overvalued and which ones weren't. A pretty important topic given the current market environment. However, after reading this short book I have no idea of how to actually rank stocks on the 1 to 6 scale that he uses. He doesn't actually provide concrete examples, only that he says that he put together this ranking and it worked really well. My other problem is that if this approach works so well how come he didn't use it when his "Dow 36,000" book came out when the stock market was at its peak. Some explanation would have been useful for why Hassett, who is marketing this book as a full proof approach to spotting bubbles, wasn't able to use this approach himself over just the last couple of years to warn people and predict which stocks were going to crash, a period when he was supposedly writing this book. Claiming that you use a not clearly stated formula to identify overvalued stocks after they have already crashed seems like a scam to me.



2. The young co-author of Dow 36,000 writes a summary of theories regarding financial bubbles. (Thank goodness he doesn't pursue the earlier book's theory on the stock market's risk premium.) Unfortunately, this is not a practical bubble detector.
   This is a quick, pithy read with lots of information and a bibliography to point the way for further study. He contrasts the efficient market theory with other ideas that suggest the market can be beaten. It's too bad this book is not longer and more substantial. Maybe Devil Take the Hindmost or Tulipomania would make a nice follow up to this simple intro.



3. I saw a favorable review in the New Yorker so I took the plunge and bought the book, even though I never read finance books. This is one of the most interesting books I have ever read. While its easy to say there was a bubble after the fact, this book looks at the work of the real scientists who have been searching for hard scientific evidence of bubbles. The book has very well done dialogues that help make the material entertaining. I never expected that the search for bubbles would provide so much insight into how the world works.



4. Hassett has improved his scholarship immensely in the present book over his previous,co-authored book with James Glassman ,written in 1999, which predicted a Dow of 35,000 by late 2005.The fundamental problem underlying the formation of a boom-bust stock market(herd,crowd, and momentum investing,financed in large part by margin account loans,that leads to manias,bubbles,panics,crashes and subsequent economic downturns)is the inherent ambiguity(uncertainty) of the information or data upon which stock market participants are basing their expectations and probabilistic forecasts of future price changes.The inability to form reliable probabilistic forecasts of future market outcomes leads perfectly rational decision makers to start to follow other market participants who they think might be somewhat better informed.The formation of herd behavior is then started and you are well down the road to boom and bust capitalism.Hassett correctly credits D.Ellsberg,F.Knight,and J.M.Keynes for providing the fundamental concepts underlying his "new" "science" of stock market analysis.Essentially,any type of classical-neoclassical analysis based on the assumption of normality(a normal probability distribution a la the efficient markets type of reasoning) is shown to be badly misleading and very inaccurate.The ambiguity(uncertainty)versus risk distinction is of fundamental importance for any type of financial investing or modeling.There are two significant omissions in Hassett's book.The first omission is Ellsberg's 1962 dissertation,recently published in 2001.Hassett gives Gilboa and Schmeidler unwarranted credit for incorporating optimism-pessimism into Ellsberg's decision theoretic technical structure.Ellsberg had already integrated a generalization of the Hurwicz optimism-pessimism index into his general model of decision making under ambiguity in the very important chapter 7 of his dissertation.Gilboa and Schmeidler, unfortunately,conflate the existence of ambiguity with optimism and pessimism.Supposedly,optimists are ambiguity preferrers and pessimists are ambiguity averse.Decision making that is conservative in nature,i.e.,careful,prudent,circumspect,that "does not rush in where angels fear to tread",also appears to be mislabeled as "pessimism".Ellsberg makes it completely clear that his rho index is separate from his optimism-pessimism index.Likewise,conservatism in decision making is not the same as pessimism in decision making under conditions of ambiguity.Gilboa and Schmeidler deserve some credit for applying a more advanced mathematical technique[Choquet integration using capacities(convex-concave),a generalization of mathematical probability functions that allow non additivity (sub and super additive capacities) to be incorporated using ranked data].However,they have made no theoretical or empirical advance over Ellsberg's chapter 7 presentation .The purely mathematical advance made by Gilboa and Schmeidler appears to have been overemphasized in the economics journal literature.Gilboa and Schmeidler need to straighten out their analysis so as to separate ambiguity from optimism-pessimism and distinguish conservatism from pessimism. The second major oversite made by Hassett is that none of the 50 years of work done by Benoit Mandelbrot on analyzing stock and financial market pricing data is referenced.Mandelbrot's mild risk(normal distribution-random walk-efficient markets-independence-continuity)versus wild risk(Cauchy distribution-discontinuities-long and short run dependence-correlated variances)distinction is of great importance theoretically and empirically.Mandelbrot has established empirically the unstable, boom -bust nature of capitalism.The markets are far,far more risky than is assumed by the economics establishment.An overwhelming case can be made that the work of Ellsberg and Mandelbrot is so important that they should receive the Nobel prize in economics in 2006.



5. I am somewhat more dubious than Kevin Hassett is about the existence of "bubbles" (e.g., see PeterGarber's excellent review of the history of bubbles in "Fables that Aren't Worth the Price of a Tulip"), but given that Hassett provides the latest academic research in an understandable readable way on how to spot when bubbles might be occurring, this is a very useful book. I think for the vast majority of readers the book strikes the right balance between practical usefulness and technical detail. It is a hard task, but I have rarely seen someone take what can be such technically complicated issues and get the logic of what is going on in such a straightforward way. For investors, this is a very useful book to read.

5 comments about The Iron Triangle: Inside the Secret World of the Carlyle Group.

1. I picked up a copy of The Iron Triangle in my local bookstore, and having read the backcover, I knew I just had to purchase a copy.
   
   Briody's book is first class investigative journalism which provides an in-depth profile of one of America's most secretive and politically influential companies; The Carlyle Group. Although the author makes it clear that his book was not welcomed by Carlyle, he has done a formidable job in showing just how far and wide the tentacles of this octopus have spread over the last decade. Written almost like a thriller, The Iron Triangle lets you see the inner workings of this "political powerhouse" and how they use their unique "political access" to the White House and Pentagon while investing thier private assets of over $13 billion in areas as diverse as Health Care, Homeland Security and Defense. At the very least, this book makes you question the notion =and acceptablity= of 'political access' to today's policy makers by yesterday's politicians furthering their own financial gains.
   
   From the backcover:
   
   "The company does business at the confluence of the war on terrorism and corporate responsibility. It is a world that few of us can imagine, full of clandestine meetings, quid pro quo deals, bitter ironies, and petty jealousies. And the cast of characters includes some of the most famous and powerful men in the world. This is today's America. This is the Carlyle Group."



2. This book gains no real traction beyond the dust cover's framing of the conspiracy theory around the Carlyle group. Facts stated in the first few chapters are often repeated later on in the book and you end up asking yourself, ''yeah so what?''. Not clear what the author's angle is, he doesn't appear to have any special information on the interworkings of Carlyle and remains just an outsider compiling information easily available from various sources. Ultimately the book fails to tell a cohesive story and instead results in a semblance of newspaper articles or magazine features with the author's views often repeated and reiterated throughout the book in a monotonous and droning voice with not the slightest bit of climax.
   However, if you are rather simple minded and a non business oriented individual, you may find the book's lack of factual basis and meaning is quite just your speed.



3. Do not buy into any negative spoilers attempting to downplay or destroy "The Iron Triangle." I used this book as background research for my college thesis and its contents made me feel ashamed to be American. If it was not for Dan Briody's reporting instinct and tenacity, every American would remain ignorant as to the inner sanctum of Carlyle and how it works its connections in D.C. and around the world. Could you imagine our so called "bastions of freedom"; CBS News, FOX News and ABC/Disney running a feature length investigative piece on Carlyle's history and its people? Unlikely, or even unthinkable. --So much for a nation of "freedom." In writing "The Iron Triangle," Dan Briody has done the nation a public service, and if you want to educate yourself about Carlyle, but can't spare the time to read an entire book, then I'll point out parts you should not miss: "Carlucci's Connections" Chapter 4, "An Arabian White Knight" Chapter 6, "Family Business" Chapter 11 and "9/11/01" Chapter 13. The letters reprinted in full in the appendix are actual Carlyle letters to the DOD and they should also not be missed. Democracy, what Democracy?



4. I'll be the first to admit that the Carlyle Group seems to "work" the system...perhaps even abuse it to profit from their "connections" to goverment. And yes, they've done a few thing most people would find to be inappropriate. However the author's case would have been much more compelling had he simply stated the facts and not editorialized so much. The result makes you feel like it's a crackpot conspiracy theory. His liberal use of adjectives and obvious melodrama to make us think something horribly sinister is afoot made me bitter toward journalists, rather than his intended target, the Carlyle Group. Typical of the news media today: he couldn't just report the facts...he had to color it with his political (or paranoid) biases.



5. I purchased this book. Book is shallow with no depth. Dan Briody clearly does not know the Carlyle Group, its principals or anything else. What a waste of time and money.

No comments about Appeasing Bankers: Financial Caution on the Road to War (Princeton Studies in International History and Politics).

5 comments about Money: Ye shall have honest weights and measures.

1. MONEY: You shall have honest weights and measures, by James Ewart.

   "Let me issue and control a nation's money and I care not who writes its laws". This quote is attributed the first great merchant banker Meyer Amschel Rothschild. We take the currency in our wallet for granted. However, the control of money is the most subtle and important of all the issues which govern human affairs. One of the results is that if foul play is planned It needs to be covered up. Most teaching at universities in economics is part of this cover up. The history of money can be found in this book. In the wonderful new the style of modern publishing this book is also user-friendly. Though you will find all the correct information between its covers it is wonderfully illustrated with photographs of money never before released. The history of coin and paper currency emerges from its pages almost live. You end up, however, with a true understanding of the horror which is central banking. The book is so attractive that every intellectual will want to have it on his coffee table for a decoration and when the time is right for a serious discussion.




2. Jim Ewart has produced a classic work entitled Money. More than simply a fine 'coffee table' exposition on our understanding of the nine most important monetary terms (money, currency, dollar, pay, note, bill, tender,usury, and inflation), it is THE premiere showcase work on the pictorial history of money. This expensively designed and printed book is the first to show all of the original American forms of coinage and paper currency in full color plates. They are gorgeous. Ewart walks you through all the fascinating fine print on each bill showing how government has slowly changed the fiduciary relationship between citizen and currency -- to the citizen's detriment. While I think Ewart sometimes makes too much out of the nuances of etymology (tracking the root meaning of words), when you get through his conversational explanations on money, banking and credit,you'll be an expert on the terminology of money and much better equipped to see through the deceptive fine print still in use in many of today's bank loan documents. Again, this is a showcase-quality hardback book printed on glossy paper -- a treasure house of color reproductions. It's priced none too high for the value, in my opinion.

   Joel Skousen, editor World Affairs Brief




3. This would be a perfect graduation gift for a high school student. Give him or her a dose of vital truth before subjecting them to economic B.S. on the university level. If only I could have read this book 20 years ago. James Ewart does a magnificent job exposing how the banking system operates and how ongoing unconstitutional expansion of the money supply waters down the value of our wallet and checkbook money. When you are the victim of a continuing con-game, the sting is not comprehended, the propaganda has been effective and the billionaires make out like bandits. Now you have the key to the magic trick in "Money" and all economics becomes very simple, only the slight of hand and propaganda was the source of confusion. So, if you are of a state of mind which could not contemplate the possibility of criminals running the United States, then this book isn't for you, stick with looser job and Sunday football and boring spouse, and ride ol' nellie down; on the otherhand, if you have been curious, or sensed something was wrong, but couldn't put your finger on it, JUST WHY SHOULD ALAN GREENSPAN BE ALLOWED TO MANIPULATE YOUR MONEY ANYWAY? DOES LIBERTY AND FREE ENTERPRIZE MEAN ANYTHING? , then this book is for you, It rates a 5 star, and every patriotic American should have a copy nearby.



4. Having spent the past two years learning everything I could about the workings of the Federal Reserve and fiat currencies I was pleased to be introduced to Ewarts excellent book on money. It is a first class book in all respects, content, format, quality of paper, photos and binding. I have three sons in their 20's and I am giving them each a copy, that is how important the information in Money is! There is a growing awareness of the abuse of our money system, our Constitution and our government. Books that would complement what you learn in Money include, Cracking the Code, Creature from Jeckyl Island, The Grunch of giants, and The Peoples History of the United States. Also do some research on filing a UCC-1 in a step to owning your freedom.



5. "Money" is one of the most informative books I've ever read concerning the Unites States "monetary" system. For example, I never realized that our Federal Reserve "Notes" are not notes at all, but rather worthless tokens with no real value backing them. Nor are our tokens currency, in the sense that they are current assets, because they are not redeemable. Several dictionaries define money as gold or silver coins that are the media of exchange. I could go on and on, but this book is amazing and easy to understand.

5 comments about The Single Best Investment.

1. this is a great book. O'Higgin's book on buying the Dogs of the Dow was a good book, and it made sense: buy quality when it is cheap. Well, Miller's book makes sense, too. In fact, it makes so much sense, that you wonder "why, of course, that's the way to make money". This book reminds you how important dividends are (some 70% of stocks' returns over the past 50 years), and how significant compounding can be. ("yeah, yeah, yeah" you say, but how about 20+% annual return per year on an investment in a solid, low risk company? Miller tells you how.) Though this is not the kind of book that appeals to day-traders, or "hot stock" investors, it is the kind of book that should appeal to smart investors.



2. I read geraldine weiss investment books, and made up my mind to keep studying dividend investing; actually it is one of the best strategies to employ in hard markets like the one we are experiencing; the volatiliy is relatively low compared to other different strategies, and long term results could be substantial.
   Good and well researched book



3. I've read dozens of investing "classics" and this one ranks high among them. It's engangingly written without being pushy or arrogant. The advice it contains is convincing, wise, and timeless.



4. I am a great fan of passive index funds. I also hate the idea of owning bonds and have toyed with the idea of replacing bonds in my asset allocation with high dividend stocks from high quality companies. Historically, high dividend stocks from high quality companies have declined less than the S&P 500 in Bear Markets. The current 15% tax rate on dividends is also more favorable to holding high dividend paying stocks in taxable accounts.
   
   Miller hates bonds as much as I do......and advocates a 100% stock portfolio several times in the book.
   
   Miller contends that an investor can construct a 100% stock portfolio that has lower risk and a higher return than a conventional 60:40 stock and bond portfolio.
   
   Miller repeats the age old saying that "Dividends Don't Lie".......and we recently learned about how many managements can lie ala Enron and WorldCom. Miller calls the period 1990-2003 the Dividend Dark Ages where companies reduced the amounts of dividends paid and focused on increase stock prices.......including creative accounting....so executives stock options would be worth more to them.
   
   Miller gives specific guidelines on how to select high quality companies with great prospects for long term increases in dividend growth.
   
   Although Miller is more an active versus a passive investor, his technicques are likely to yield returns close to index fund returns.
   
   Over-all an interesting read and his suggestion to replace a 60:40 conventional stock and bond portfolio with 100% dividend paying stocks is great food for thought.
   
   I would suggest companion books to supplement this book including:
   The Richest Man in Babylon
   Bogle on Mutual Funds: New Perspectives for the Intelligent Investor
   The Millionaire Next Door
   The Four Pillars of Investing: Lessons for Building a Winning Portfolio
   A Random Walk Down Wall Street: The Time-Tested Strategy for Successful Investing, Ninth Edition
   Index Mutual Funds: How to Simplify Your Financial Life and Beat the Pro's
   The Coffeehouse Investor: How to Build Wealth, Ignore Wall Street, and Get On With Your Life
   The Bogleheads' Guide to Investing
   Wealth: Grow It, Protect It, Spend It, and Share It
   All About Asset Allocation.



5. Overall this is a good book, but there is nothing in this volume that will help you find the really big winners. If you are looking to make 6% to 10% return on your money each and every year, read this book, but if you are looking for much higher returns say 20% to 100% per year, read some of william O'neils books.

2 comments about Global Finance at Risk: The Case for International Regulation.

1. This is an excellent review of what has happened to, may happen to--and will happen to--the situation of Global Finance. Eatwell makes strong points about both currency in global markets, and its pejorative effects in local or regional areas. He brushes on many of the key issues concerned in golbal economic concerns, including Bretton Woods, IMF, the EC, the Asian economic crisis. In the end, he seems to suggest action of major restructuring of current currency guidelines, even to the point of 'support' for currencies or other like dimensions.

   Overall, a very good book.




2. John Eatwell was a professor of mine - a wonderful individual and an accomplished economist. This book is a lucid yet comprehensive account of world financial markets. The way it is written and organized makes it easy for almost anyone to read. Although it can be complex at times, this book is an excellent, compelling argument for International Regulation. Dont think twice to buy this one.

5 comments about Theory of Interest.

1. In order to save the reader some time I have condensed the information contained in the twenty previous reviews to the bare essentials. For those of you who are taking the SOA/CAS Exam F/2, there are some things you should be aware of before you dedicate yourself to studying from this book.
   
   1. The book is poorly written. Almost everyone, including me, agrees. The author does not have a way with words, he does not know how to motivate the material and he often chooses the most confusing and roundabout way of explaining the concepts (if he explains them at all). Furthermore, the notation can be quite confusing. He is not consistent with his variables.
   
   2. The book focuses on theory. Expect to spend your time following proofs and derivations of formulas. The problem sets in the book focus on proofs and derivations. Have a firm grasp on Calc 1, Calc 2 and all the algebra that is entialed because Kellison will not spend the time to spell out his proofs and derivations step by step.
   
   3. You need a supplement for working example problems. There are not enough computational problems in this book. Get a good manual that will prepare you specifically for the exams you are taking. Manuals will give you pointers about managing your time and can help you avoid common traps and pitfalls that arise during computations. I recommend getting an Atex or ASM manual. For instance, Harold Cherry's ASM Manual covers all of the topics found in Kellison, at greater depth, in the same order, and in plain english.
   
   4. Many people have passed the exams using only manuals. Other's have passed using manuals and other texts such as "Schaum's Outline of Mathematics for Finance" or "Mathematics of Finance" by Cissell. Very few people pass without doing lots of practice problems
   
   5. Others have passed the exam by using only this book. So it seems that this book is sufficient, but not necessary for preparing for the exam. Ultimately, you must be the judge. WHile it is certainly true that if you master this book you will be rewarded by a rich understanding of the theory of interest my personal recommendation for those studying for the exams is to devote most of your time and energy to practice problems. I would recommend using this book to flesh out your understanding as you go.



2. A number of aspiring actuaries who attempt to pass the second exam (Exam FM: Financial Math) attempt to side step the reading of this over priced textbook and substitute it with study aides and other cram books. I would recommend that they refrain from doing so as this text is lucid, the exercises are quite comprehensive, and above all, the occasional examples are rather identical to the problems one can anticipate on the test. I took Exam FM recently and this is the only text i refered to, and i felt that my preparation was rather complete thanks to a reading of the syllabus material. The book flows like water, though chapter 4 (section 4.4) and chapter 5 might be a bit tedious to read because of the complication in the material presented, thankfully that second rarely contributes substantially to the test. in fact, after chapter 3, chapter 4 (sections 4.1-4.3), it is best to jump to chapter 5, 6, 7, and then 9. Once this study is complete, the material presented in section 4.4 and chapter 5 and sections 8.7, 8.8, 8.10 must be examined to maintain fluidity of the material.
   
   the only reason i give the book 4 stars instead of 5 is due to its price which is rather high.



3. Kellison gets a lot of things right in this book. It's well-designed to reach a wide audience: people who are coming into finance as they are acquiring mathematical ability, as well as people with mathematical maturity who would like a clean, elegant treatment without a lot of pedantic material.
   
   There are some faults (but keep in mind I have the second edition and haven't seen the third edition which may or may not be a big improvement). In several places it is as though the editor has fallen asleep, the writing is so turgid and unclear, though in general the writing is smooth and penetrating. In places Kellison spends a lot of energy deriving five equations when you only need one, the other four are simple corollaries that would make good exercises. There are bothersome assumptions made, for example, Kellison nowhere explicitly notes that "X dollars at r% annually" will always mean what it does always mean. Sure, we can infer that, but it's not fitting for the kind of comprehensive ground-up treatment Kellison is attempting. I have a nagging sense that the entire book could be much better, but I still come away with gratitude for what Kellison does provide.
   
   Great choice for FM/1. I do not recommend Daniel/Vaaler.



4. This new edition has more exercises and, in general, better layout. BUT, it is poorly written. Kellison could have reviewed his methods to explain certain points which are a bit superficial or backed only with mathematics. Even though it has many references to real situations, they are far from being clear or helpful.
   In conclusion, it is a book for quick reference abount basic financial mathematics and to prepare an exam (SOA Exam FM in particular). Not more. My four starts are supported by that: if you buy this book, you should buy it ONLY to study for exam FM.



5. I received the books very quickly. They were in great condition. I want to thank them for everything.