5 comments about The Crisis of Global Capitalism: Open Society Endangered.

1. George Soros, one of the greatest speculators of all time wrote this book which is an ode to govenment and bureaucracy intervention. It seems at first sight that Soros realized that true liberalism (not the liberalism of the left wing in America) was wrong and thus the Estate should intervene to fix the market's problems.
   
   Now you may be asking, How come a guy who made 1 billion dollars in one day thru speculation against the british pound in the 90's is now a critic of the system that let him speculate and get rich?. Well, Soros changed his mind about capitalism when he lost 2 billion dollars during the russian crisis. He tried to convince the World Bank and the IMF to save russian markets like they did in Mexico in 1995, but no help was approved.
   
   So, what's the solution according to Soros? Easy: create new bureaucracy. He wants a Global Fed, Government intervention in the markets and a more robust and strong Estate. If this solution were to be implemented, Soros would be denying to others the opportunities he had to get rich. I think what Soros wants is to prevent others to compete with him perhaps because he is tired of today's competition.
   
   If you are into Mises, Hayek or even Friedman, this book will only be useful to show the clichés that the left wing repeats over and over against capitalism. It doesn't add something new to the debate, just shows us that Soros is a great speculator but a poor economist.



2. One of Soros' most compelling arguments comes out of his experiences during the 90's- mostly during the Clinton years- that the Open Society should take an active role in becoming a strong advocate for creating nascent Open societies in areas of political and economic strife. He berates America (as the leader of the free world) for not taking an active role in promoting stable and fair markets in Russia, and not doing enough to prevent the tragedies in the Balkans. He even goes as far as to say that America should step up and become the "policeman of the world".
   
   Then again... isnt that exactly what he's spent the years after this book was authored trying to stop in his attacks on the campaign of George W Bush? Soros is fascinating in the sense that he feels perfectly comfortable documenting his complete ineptitude at coming up with theories about world politics. He even deconstructs his earlier writings, pointing out his flaws, suggesting that the fact that he can be falsified reinforces his self-title as thoretician.
   
   Soros makes the bold claim that if you can get people to agree with you, you can make money off them on the upside, and then make money off them on the downside as long as you don't continue believing your own guff past the sell-by date. He defends this as moral, because it is playing by the rules. He trumpets his years of philanthropy as the justification for a life spent in raiding the economies of the world.
   
   This is a book well-worth reading, and attempting to understand, because he makes/confirms his own point about the evils of market fundamentalism in autobiography. It is an expose on the evils of self-deception and over-reliance on the rules of the game to create morality. Laws and civility, like economics, do not construct good morals and ethics. He leaves himself lost, essentially falling into recourse to a higher power (of a more perfect UN or WTO or IMF, rather than a deity), but calling upon a higher power nonetheless to check the excesses of which has been his daily bread and butter for fifty years.



3. Reflexivity, is the two way interaction between thinking and reality. Reality is not separate from thinking. Reflexivity is acceptance that there is a reality and we are a part of that reality. Reflexity, strength of its statement is contingent on their impact.
   
   Fallibility means there is a lack of correspondence between the participants thinking and the actual state of affairs. When one recognizes a fallible belief, he can correct for error, this is another name for learning. All human designs are bound to be defective. In finance the value of a hypothesis is measured in money. Money accumulation measures the degrees of success in a belief system and the exploitation of observed fallacy. No fertile fallacy is likely to last forever and eventually, it will be replaced with a new fallacy that will occupy people's imagination. There are two ways to deal with deficient design, one, to look for an escape and two, to look for improvement. Marxist philosophy and economics is not scientific provable.
   
   Karl Popper's theory of scientific method involves predicting a specific phenomena then testing and explaining the phenomena. Therefore, prediction and explanation are reversible. Testing is comparing the initial and final conditions and establishing whether they conform to the hypothesis. One should accept the hypothesis provisionally, until is can be falsified. This approach allows the hypothesis to provide predictions and explanations without insisting on verification. The predictions can be either deterministic or probabilistic. However, generalizations made about reflexive events cannot be tested.
   
   Equilibrium in supply and demand means there is exists no unsatisfied sellers and buyers. Economics is the study of the relationship between supply and demand, not the conditions. All markets have radical fallibility and are liable to be flawed. Economic theory has misrepresented how markets behave. The conditions of supply and demand are unknowable because financial markets are discounting the future contingent on how they discount the present.
   
   Rational expectations of price are based on fundamentals, such as, future earnings, dividend, and the prospect of future transactions. Therefore, it would be irrational for an investor to believe they can outperform the market.
   
   Self-interest is the best explanation why free markets succeed. Different people work with different bias. A sequence of events occurs and these events affect a person's bias. Rational expectations philosophy contents that markets are always right. However, in reality financial markets are almost always wrong, but have the ability to validate them selves to a point. Divergence from outcomes and expectations can be taken as bias.
   
   For example, credit expansion and contraction are followed by a boom or bust, in the business cycle. Collateral value depends on the amount of money the bank is willing to lend. Investors had sought fast per-share growth rates and certain companies had exploited this bias using their high-priced shares to acquire companies with lower multiple of earnings and producing higher shares and growth earning increases, for which, the investors appreciated. These companies become bestowed with higher P/E multiples far from the mean and reality cannot sustain these expectations.
   
   The turning point formed because there were size limits and the company could not sustain momentum. Investors got carried away with expectations. The moment of truth occurred when reality could not support investor expectation. People only increased their pain by continuing too play the game when they, themselves no long believed, hoping a greater fool would arrive and bail them out. The crossover point would be followed by a downward trend and eventual crash. Markets are in constant dis-equilibrium: Prices do not clear the market and there are dissatisfied buyers and sellers in the wings, who could not execute order at the last sell or could not make up their minds.
   
   1972, Citibank enters the market and starts using capital to simulate stock prices, raise additional capital, and made purchase acquisitions. 1973, Oil crisis causes a boom and swing into dis-equilibrium. 1982, radical change caused the international banking crisis. 1989, the Soviet empire collapsed and robber capitalism emerged, as, management tool control of companies and private property by cheating workers of vouchers and buying up companies cheap. State to Private property distribution became the problem of a free for all. The Russian central government was unable to collect taxes.
   
   1998, IMF negotiates with Russia, a $22.5 billion rescue plan. Emerging market Russia's stock had fallen 48% in four weeks. Prior too the bailout, Russia had $11 billion in hard currency in its reserves, but this was not enough to cover debts come due. The USSR was on the verge of breaking up and building a free-market system in the stead. Peoples exchanging their rubles for dollars had depleted the central bank by $2.4 billion. Russia was too big and too nuclear to fail and IMF bailout mandated and required. The IMF role in the financial intervention of Russia would be too help Russia make the transition into a free-market. Russia lacked many of the components needed in a free-market: viable commercial banks, stocks and bond markets, and laws to protect private property and enforce contracts. The IMF used "shock tactic" to dismantle communist command and control hierarchy and liberalizing price and markets. Soon after shock tactic private retail shops opened and imports of foreign goods increased. Bloated budget deficits caused an explosive rise in Russian money supply and in 1993, inflation topped 843% and 224% in 1994. 1995, Russian reforms acquired a $6.8 billion IMF loan aimed primarily to tame inflation and inflation subsided. The ruble was pegged too the dollar ending a slide in currency value. The next stage of reform was modern banking. By 1997, inflation was 11 %, the ruble stable, communism vanquished, and portfolio investor were infusing money into Russia. Portfolio investment surged to $45.6 billion. Russia economy looked health, but its heavy dependence on short term borrowing subjected it to heavy costs. Russia had to borrow $1 billion each week by selling GKO to replace the maturing ones with increase costs of 25%. The



4. It's a good idea to find out what financiers like George Soros are thinking because it may give some hints of what is in our future. His book, "The Crisis of Global Capitalism" was rushed into print "at breakneck speed." That should give a hint about Soros' power and influence.
   
   Soros, once a Hungarian Jewish refugee, is now a big shot. When he isn't masterminding international financial scams or working toward world government, he makes public appearances, testifies before Congress, and writes books.
   
   The stimulus for the book was the global financial crisis that began in Thailand in July 1997. The crisis steamrolled through the economies of many nations, collapsing the Russian banking system before the recovery began. Malaysia shut down its financial markets to foreigners, pointing to Soros as the source of the problem.
   
   After that close brush with global economic meltdown, perhaps Soros is trying to convince us that we should create a mechanism to clean up after his meddling. Soros' "remedy" is international supervision over the national authorities. World government.
   
   How much world government is enough? "You cannot have a common market without a common currency. You cannot have a common currency without a common fiscal policy, including some kind of centralized tax collection."
   
   And of course he says we need the International Criminal Court. Still not enough world government for you?
   
   "A society without social values cannot survive and a global society needs universal values to hold it together." In case you missed it, we are talking about a global religion. Maybe world government is like sex--you can't be a little bit pregnant, and you can't have a little bit of global government.
   
   Soros clouds the issue with a lot of talk about "open societies," although world government would be anything but that. Soros touts democracy and open societies, but he obviously favors bureaucratic secrecy over an open society. Soros favors some type of powerful paternalistic oligarchy that falls somewhat short of actual totalitarianism-or better yet, makes people think that it stops short of totalitarianism.
   
   This book is loaded with contradictions. Soros' definition of an open society diametrically opposes his desired stable society. Soros calls Communism a cure worse than the disease, yet he maintains that we must put common interest ahead of self-interest. He says that the US can't go it alone, yet somehow the US can save the world.
   
   Soros is too dishonest to admit that pumping capital from advanced nations to the third world will lower US living standards, although he predicts that the US will have to dismantle the social safety net to become more competitive.
   
   Soros decries the profit motive as the basis of human behavior, but what other motive is there for international capital flight and destroying national sovereignty?
   
   What does internationalism deliver? If you look at the US in the age of internationalism, then the answer is war, low wages, unemployment, and loss of self-reliance.
   
   The fact is, free movement of capital is a relatively recent phenomenon. At the end of the Second World War, economies were largely national in character. Since 1980, the balance has swung so far in favor of financial capital that multinational corporations and international financial markets have supplanted national sovereignty. The ability of a nation to provide for the welfare of its citizens has been impaired by the ability of capital to escape paying taxation and decent wages by moving elsewhere.
   
   Regarding the 1977 financial crisis that sparked this book, the international financial system itself constituted the main ingredient in the meltdown process. The big difference with China was that its currency is not convertible; otherwise it's economy would have been exposed to the "wrecking ball," as Soros puts it. The countries that kept their financial markets closed weathered the storm better than those that were open. India was less affected than the Southeast Asian countries; China was better insulated than Korea.



5. This is my first exploration into the mind and thinking of George Soros. This book was not difficult to read. Mr. Soros is not a deceptive writer.
   It seems that Mr. Soros is one of the richest men in the world. He made his money in the international financial marketplace. Today he is out of the speculation business and characterizes himself as a philanthropist.
   His educational background is in economics and philosophy. Being familiar reading philosophers, I feel safe in saying that he writes, thinks and explains himself like a philosopher.
   Many critics consider Mr. Soros a liberal or an apologist for the "socialist, communist" left. I think not. Mr. Soros is first a Capitalist. He does not believe in the "equilibrium" notion which proposes a self-adjusting world.
   As I see it, George Soros is a capitalist to the core. Like John Maynard Keynes before him, I understand him to be a pragmatic capitalist personally engaged in the task of expanding and attempting to move capitalism along positively to a globally successful economic system. He accepts that capitalism has gone global. He doesn't resist globalism but realizes that without restraints and rules and regulations it has a possibility of collapsing upon itself. Soros's solutions are in my opinion the philosophical convolutions of a capitalist investment broker. Sort of a Meditations by Marcus Aurelius - but in international financial investment. It was a real struggle for Marcus Aurelius to maintain his philosophical inclinations and at the same time, authoritatively and often ruthlessly, rule the Roman Empire. It is equally difficult for George Soros to balance his philosophical and moral character with his necessary ruthless and amoral behavior in the gruesome world of international finance. But like Marcus, George gives it an honorable attempt. Many speculative amoral capitalist should be going to prison not to the Riviera. In fact Mr. Soros may be one of them. If he doesn't belong inside a prison, he could certainly be doing some community service. Actually, that is probably exactly what he is attempting with his philanthropic endeavors - as was the case with Andrew Carnegie, John D. Rockefeller, Henry Ford, and many other of our past unscrupulous economic giants.

5 comments about How I Turned $1,000 into Five Million in Real Estate in My Spare Time.

1. I am a licensed realtor in a major city with 20 years of experience. In that time I have made a small hobby of reading old as well as new books on the subject of Real Estate. I don't know how this one eluded me for so long, but our paths finally crossed. This is easily the most concise and informative tome on the subject of acquiring wealth through investing in Real Eastate that I have ever read. Unlike the myriad TV hucksters who would have you believe that having No Money Down and shoddy credit is almost an advantage, Mr. Nickerson takes a reality-based approach to his subject. Starting with the want ads in his newspaper, he guides you through the entire process of purchasing an investment property. The chapters on financing are absolutely perfect. The edition I have was published in 1969, yet the information is as valid as it was when written. Certainly prices have changed, ($10,000 homes!)but that aside, this book will make you a fortune. This is one of those books that you start again as soon as you finish it. Give it a shot.



2. If you are starting out in residential real estate investment, this book is a must read. Nickerson presents a conservative, realistic scenario for starting small and steadliy building wealth. This is not a get-rich-quick book or one that relies on gimmicks or nothing-down strategies. It shows you stepwise how to build a solid financial foundation in real estate, and how to leverage current assets into more valuable ones. Nickerson's strategy relies on hard work and persistence, not luck, deceit, or the greater-fool theory. There's no need for an updated version of this book; it's principals and approaches to developing wealth are as timeless as compounded interest.



3. I ran across this book in the early sixties, when one million was in the title, not five million. I used this book to make several million dollars for myself, and taught two friends to use the book, and they also made substantial money. It isn't magic: it simply shows you how real estate wealth is made, and shows you step by step how to do it for yourself. A young friend has just asked me to show him how to do it , and I went to Amazon to see if the book was still available, so that I could steer him to it. That's why I'm here. I am now, at age 62, a real estate developer, and the same rules still apply. The book is simple, basic, and absolutely true. By a strange cooincidence, I knew the appraiser hired by Simon & Shuster to verify that Nickerson had made five million. The appraiser told me that he believed Nickerson had understated his wealth!



4. lots of information, good for starter!! cool book!



5. This book is out of print, and many today have never heard of it. You'll probably have to order it used, and upon first impression, it appears to be an outdated book. Well, it is outdated. The dollar amounts have changed, and the author was aware this would happen. However, the dollar amounts are the only things that have changed - the lessons in this book are timeless.
   
   Many a books have I read on real estate, each containing something I could learn. I make a habit of highlighting and creating summaries of key points in each book, but, in this book, I am having great difficulty doing so, because it seems almost everything said is straight to the point - I want to highlight everything! I have yet to read another book as practical as this one, one that walks you through so thoroughly:
   
   - Saving money for a down payment for years
   - What to look for in your first property
   - The complete buying and financing process of your first property
   - How to manage your tenants, collect rent, etc.
   - How to make cost-effective improvements to assure yourself a profit
   - How to sell your first property
   - What to look for in your second property and how to buy it
   
   and works all the way up to
   
   - What to look for in buying big apartment complexes
   - What to look for when interviewing property managers
   - How to hire a property manager
   - How to supervise your property manager
   
   and ending with a large income that your properties generate for you, thus, enabling you to retire wealthy. All this is in a 20 year time-frame.
   
   There is no fluff, this book is straight to the point.
   
   Aditionally, his methods do not involve any speculation. Your property does not need to appreciate for you to make money. If it does, it is a nice bonus. This book is the Security Analysis (Graham and Dodd) for Real Estate.
   
   Study, study, study this material. Highlight, make charts and diagrams, flashcards, summaries, whatever you have to do. Make certain you master this material. This really is the Bible of Real Estate.

5 comments about God's Plans for Your Finances.

1. This book is vital for anyone who desires to serve God. It is focused on working with your current finances. Mr. Nichols provides sound solid advice on how to live on 70% of your income and not 90% like most of us.

   This book was so stimulating to me that I compared what I was spending in various categories to what Mr. Nichols recommends. I found areas where I need to improve.

   I will be teaching the young adults in my Sunday School class from this book in the next quarter.

   My life has been enriched from Mr. Nichols efforts.




2. I have read many finance books regarding getting out of debt and being a good steward over your possessions, however Mr Nichols format for sharing this message was easy to read and very power. I could feel the Holy Spirit radiating from the pages. Also the fact that he grew up poor and broke the cycle of poverty by studying God's word as well submitting to God's Plan will encourage others to rise above adverse/negative circumstances to become prosperous obedient Christians. Completeness in Christ and obedience to God's word = SUCCESS.



3. If you are ready to get out of debt and have a relationship with God this book will bless you. It has clear bullets and one could read it in one day. It is a great reference book to pass on to all your love ones.



4. Before being in a leadership position in the financial industry Dwight Nichols experienced poverty first-hand. Realizing that what one thinks affects one's life, he approches the subject by pointing out that a correct belief system will have direct favorable consequences when those beliefs are acted upon. He uses principles from the Bible to instruct on God's way of leading one from lack to abundance.
   
   Chapter 12 is particularly encouraging in that it seeks to draw out of a person what God has already put within. One idea from God can turn a person's financial situation around. That idea must be acted upon if it is to have the desired results, however. In the next chapter he lists 21 steps of wealth-building. While the book concentrates on finances, it is not a book about greed. Material possessions are fleeting. This book teaches stewardship principles, i.e., that God is the owner of all resources, that we are being effective stewards in using resources to expand His kingdom in implementing wise principles. He spends a considerable amount of his discussion on helping the poor and giving to worthy causes.
   
   Nichols' case becomes even more salient toward the end of the book when he points out how much money is wasted forever by excessive interest payments charged by credit card companies, money that an individual could use for worthwhile causes.
   
   One weakness is in the chapter on insurance (Chapter 10). In talking about individuals with no dependents buying insurance, he rhetorically asks why. The answer is one of faith. Some people in that category are not looking at what IS, but what will BE...their future spouse and kids.



5. Of course I love Suze Orman. I think she's great! But the reason her books or shows have never resonated with me is because she doesn't speak my language. I live a Christian life, and Dwight Nichols' book beautifully spells out why Christians should care about money and how to begin living a surplus life. I read his book this past week and it made such an impact on me and on my husband that we are selling our $600,000 house and buying a $379,000 house so that we can start living a surplus life. Maybe you won't take such bold steps! But maybe this book will motivate you to make small changes in your life.

5 comments about Building Winning Trading Systems with TradeStation.

1. I gave this book the maximum 5 stars because its overall impact on me as a trader was so profound. I would say it catalyzed a revolution in my success rate to such an extent that I now feel capable of making a living at this profession for the first time in my career. Obviously (as the title suggests) the book is primarily about how to use Tradestation software, or more specifically, the programming language that comes with TS known as Easylanguage. Long regarded as an oxymoron by those in the know, 'Easylanguage' is in fact anything but easy...it can be downright daunting at times. But this book really helps to break the ice by enabling dedicated students to get a working feel for the ins and outs of Tradestation and its various idiosyncrasies. Worth the price of the book alone is the chapter about trading strategies (chapter 6), subtitled by the authors "The Big Damn Chapter on Trading Strategies". A word to the wise - the SuperCombo System elucidated in this chapter contains all the elements to propel the reader much closer to that final elusive goal of consistent profitability. Perhaps you will need to modify it a bit here and there to suit your chosen market, but in the final analysis the seed concepts embedded within this single mechanical trading approach are robust and universal enough to grind out real money day in and day out for a long, long time to come. Please don't get me wrong - this is not so much a ready-made formula as it is a theoretical framework which needs to be "fleshed out" through hard work in order to be fully viable. I have always had a great deal of respect for John Hill and George Pruitt, both because of their candor and straightforwardness and because of their willingness to tirelessly follow a lead through to the end in order to discover the truth. "Building Winning Trading Systems with Tradestation" is more than a book about Easylanguage, it is a Magnus Opus of sorts, weaving many different ideas on many different levels in order to reveal a tapestry of trading that borders on something resembling a Rosetta Stone for the aspiring trader. Highly recommended.



2. The systems are very good.
   You will of course need to tune them, but I am generally very impressed.
   The prose is also very good, and I have much better insight about how to design systems like this.

   The only downside is that the code fragments in the book
   1) are not available for download on the web, which is just silly in this day and age;
   2) are very poorly edited; they contain syntax errors and obvious bugs.

   So poor technical editing, but great content.




3. The information about TradeStation is easily replaced with the manuals available from the company. The trading systems included have some interesting features, but the design and analysis is far inferior to what you'll find in, say, Conway & Behle's "Professional Stock Trading: System Design and Automation". And the editing of the text is very sloppy. This would be a decent value were it a $30 paperback, but as a premium priced book it dissapoints. There are much better ways to spend this much money on books about stock trading.



4. For new system developers using TradeStation:
   
   First, read the Tradestation Manuals. From the main menu, choose Help -> TradeStation Books. Read "Getting Started with TradeSation EasyLanguage" then move on to "EasyLanguage Reference Guide."
   
   Next, bring up a TradeStation chart and add some random strategy. Click View -> Strategy Performance Report. In the Performance Summary and Trade Analysis tabs, click on each statistic's name type and read the description. It is pretty informative.
   
   Then read chapter 5 of this book if you need more info on the stats.
   
   Chapter 6 is the real meat of this book and the reason you should add it to your library. Unfortunately it is riddled with typographical errors. It's a shame. If the authors would have just copied and pasted the code from a verified strategy, they would have caught most of the problems.
   
   Chapter 7 and 8 also have some valuable information.
   
   Again, if you can find this book used, go ahead and buy it. There are a couple strategy coding, debugging and printing, and EL tweaks for research that you will find interesting.
   
   Also, look into
   
   "Professional Stock Trading: System Design and Automation" (more good ideas and examples of TS coding)
   
   "Design, Testing, and Optimization of Trading Systems" by Robert Pardo (oldie but goodie on system design, but no TS).
   
   "The Encyclopedia of Trading Strategies" by Jeffrey Katz (there is good chapter on basic statistics originally published in 1997 Technical Analysis of Stocks and Commodities)



5. I'd call this book a beginner/intermediate level Tradestation guide. It starts with the very basics of EasyLanguage and then moves into some simple trading systems. If you get the Easylanguage beginners guides from Tradestation, you wouldn't need the first third of the book. I was looking for some coding ideas as well as some debugging ideas. I did get both from the book. The middle of the book is the good stuff and had some trading systems and debugging methods, but not $60 worth. The book appeared to be packed with all kinds of useful information but there is a lot of useless fluff, the last third of the book had lots of Reserved Words and reference stuff that isn't necessary to include. There was even interviews with system developers. I thought this was about building trading systems?? As was mentioned in previous reviews, try to find the book used. Also, the book was published in 2003. The code in the book is about 4 years old and is still usable but dated.

5 comments about Technical Traders Guide to Computer Analysis of the Futures Markets.

1. This book is nothing special. I really disagree with the author's interpretation of the ADX indicator. Absolute level is far more important than slope. The day trading systems shown will lead you to the poor house in no time. Presents some novel ideas though.



2. I know Charles Lebeau. He does occasional system seminars with my father Dr. Van K. Tharp one of the "Market Wizards" and author of Trade Your Way to Financial Freedom. Charles Lebeau is a great trader. When anyone ask me about a technical indicators book this is the one. Charles is very through. He noticed the best traders in the industry are usually right 30% to 40% of the time. They just cut their losses short and have these huge winners. Charles tested most of the major indicators against random entry i.e. (Flipping a coin) most of them don't do any better. Your exits, psychology, and money management determine if you are making money or not. Don't pay too much attention to your entry. This book explains his results and how to use each indicator. Almost any indicator will work with proper money management. I done well even with flipping a coin and the right stop. The indicator best for you is one you feel comfortable with and will stick with. BUY THIS BOOK and hopefully what I wrote may make some sence to you.



3. I only discoverd this pretty old book recently. I am suprised to find there are quite a lot of trading tips. What make this book stands out of the crowd is the tips were very concrete and practical. The discussions about exit and stop loss are parcticular good. Many other books just said cut the loses quick. How quick? When? This book gives you some hints. The authors also give some tricks in using indicators which I hope I could know earlier.



4. This book gets a 4 stars rating because of its expensive price (the book is only 220 pages and full of empty spaces). But, price is always subjective. You may treat it as the cost of your education.

   Anyway, what makes this book so very valuable is the fact that it is easy to read, clear, definitive, and yes it has so many valuable information on what parameters to use for each indicator. How many of you left confused on what parameters should be used? This book will definitely clear away the clouds in your mind.

   LeBeau has done extensive research on indicators such as ADX and his insights on other popular indicators are extremely valuable.

   The title may be slightly misleading because bulk of the contents is explaining each technical indicator (120 pages), while only 45 pages on explaining how to build a trading system. Yet, it is clear and concise.

   The final Chapter is also valuable. It deals with 12 Day Trading systems that the author has selectively chosen out of all day trading ideas he has or has received from other great traders.




5. This book is a must read for Trading System Developers. The concepts can be applied to many markets. The section on testing alone is worth the price of the book.
   
   www.iExpertAdvisor.com

5 comments about The Rediscovered Benjamin Graham: Selected Writings of the Wall Street Legend.

1. Janet Lowe's book delivers. Want to know what a genius of finance thinks about investing, the stock market and economics? Buy this book. Each time I read it, I discover a new insight which previously eluded me. Truly a great book and I recommend it to all investors of any level of investment sophistication.



2. I've profited handsomely in a real-time portfolio over less than 6 months from ideas accumulated from my reading of this nice collection of articles. Before picking up this text, I expected it would contain mainly writings from Graham's earliest years --writings destined to be melded into the first edition of "Security Analysis." There are a couple of such pieces, but I was most taken with the pieces written towards the end of his life. Some of these are interviews. Graham generated financial ideas for the individual investor until the very end of his life, and this book is currently the only published repository for these. I'm not sure if someone just coming to Benjamin Graham will derive the greatest benefit from this book, but anyone who has a passiing familiarity with "Security Analysis", "The Intelligent Investor" and "The Interpretation of Financial Statements" will derive great pleasure and a goodly number of valuable insights from this collection.



3. This book give a concrete two factor formula for buying below market value investments without needing the more extensive balance sheet analysis as used in the "Intelligent Investor" or "Security Analysis".



4. Janet Lowe has done an outstanding job collating and introducing each section of this book of previously unpublished articles, lectures, and interviews from the father of value investing. I believe anyone reading this book will get a huge value out of it. This book is a great addition to Mr. Graham's books. It is also a great book to read for those new to Graham's teachings of buying good stocks when their prices are below intrinsic value. Graham's methods of finding good stocks at fair prices by examining their equity to asset ratios, book value, and P/E multiples brought the Graham-Newman partnership over a 20% annual return on equities for 20 years. Followed by his pupil Warren Buffet using and refining his techniques to return over 20% a year for 40 years and eventually lead Warren Buffett to be worth $40 billion thanks to using his value investing for the holding company Berkshire-Hathaway. I sit up and listen to anything these two great men have to say. I also recommend reading Graham's Intelligent Investor and Security Analysis, and "The essays of Warren Buffett" by Cunningham.



5. I don't think too many people know about this book, however, everyone should. It is an easy, quick read culminating Graham's entire philosophy. It also includes interviews near the end of his great life- and still then his mind is sharp.
   
   Another thing I found interesting was in the last interviews of the book, Graham had begun to believe that investing should be extremely simple- and I mean extremely simple- rather than the long, drawn out process that he had been doing his entire career. I will leave you with one quote:
   
   They called it the "Bible of Graham and Dodd." Yes, well now I have lost most of the interest I had in the details of security analysis which I devoted myself to so strenuously for many years. I feel that they are relatively unimportant, which, in a sense, has put me opposed to developments in the whole profession. I think we can do it successfully with a few techniques and simple principles. The main point is to have the right general principles and the character to stick to them.

3 comments about Serv Safe Coursebook with Answer Sheet for Paper and Pencil Exam (5th Edition).

1. This one of the best books I have ever read on why cycles exist and how cycles can be used to improve your investment strategies



2. Written around the same time as JM Hurst's "The Profit Magic Of Stock Transaction Timing". Explores the links between cycles, volume, fibonacci, harmonics, support and resistance, and price. If you liked JM Hurst's book, and want to understand more, then this book may be what your looking for.



3. delivered brand new and came very fast! just what I needed and came with answer form!

5 comments about Investing for Dummies, Second 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 Trade Your Way to Financial Freedom.

1. If you are looking for trading recipies, this is NOT the book for you. This books describes the trading process in an open approach, whithout selling speaches, trading formulas or magical enchaments. It describes the importance of risk management of your trades, and the pshycology and biases that are part of every system. Though general, the offered information serves both from what someone would call academic understanding, and the practical side of trading. The book is not academic though, as you will not see tons of equations, proofs, or algorithms.
   I think it is a must for everone that does not want to jump into trading someone elses formulas, but to understand the mechanics and the psycology of trading. It contains references to other books that will help you understand the trade reciepies.
   So if you want to understand what you are doing, or at least what you are supposed to do and the biases associated to your decisions, buy the book. If you want to trade like a maniatic daredevil who is told what to do by following nonsense schemes, you dont need this book.
   No wonder why some readers were dissapointed. My impression, its the readers fault not to aim to higher goals while buying and reading a trading book.



2. I think this book is over-rated. You can find better information in other books. For example, Alexander Elder's "Trading for a Living: Psychology, Trading Tactics, Money Management," and William O'Neil's "How To Make Money In Stocks: A Winning System in Good Times or Bad, 3rd Edition." Both books are good and easy to read.



3. Essential reading for any budding trader from any planet.
   Find out why trading is exactly 100% psychological.
   If you harbour any other point of view, read this, you must.
   
   Cheers, Yoda.



4. The authors tried to cover many aspect of trading, from technical, fundamental, psychology,... he comes with a lot of information that bring nothing to your trading. He explain very simple thing in a complicate manner, sometime not easy to understand. I think he doesn't know much about trading and all his writing is from the conversation with others (limited) trader. If you are looking to learn about trading and want start to trade it is not a recommendation, you may try to read what Alexander Elder wrote for example. Anyhow, you don't need to buy them, you can download for free the E-Book using P2P such emule...



5. An extremely fun and exciting read when it comes to books on trading. This book more than met my expectations. It will guide you to define your expectations and goals for trading in a very simple, clear and concise manner. This book should be required reading for any and all traders, beginners or advanced alike. It is perfectly outlined with simple steps and guidelines and then summarized at the end of each chapter. Should be read by all so called "trading gurus" as well.

5 comments about Options as a Strategic Investment, Third Edition : Third Edition.

1. Well written with lots of examples to help you understand the concepts. I've used it as a reference many times as I've constructed trades. It's a big book but it's value will pay off for you handsomely.
   
   One cautionary note on this book is that it was written when trading costs were substantially higher. There are examples in the book where it will discuss trading 500 shares and paying $300 in commissions which clearly doesn't apply anymore. As you read through the book, you may need to alter your strategies accordingly.



2. I worked at Larry's office for over 3 years and anyone who would rank this book a 1 or 2 simply doesn't have the mental capacity to be a true options trader. First of all, I left his office only because I wanted to get out of sales. I still trade options and the lessons I learned from him and his books are used daily. I read people's review about his presentation style and it makes me laugh at how people want to be sold. They want to be duped by a con artist guru so bad and don't even realize it. Larry is a former mathematical programmer turned Wall Street trader - not broker. What do you expect from someone like that? Believe it or not, Larry likes to sell him seminars, books etc. simply for exposure and to get out of his office to have a beer with like minds. Anyone who likes an option book because it's an easy read is a schmuck!
   
   Nate - Nashville



3. Don't get me wrong, I do like the book but the author has an annoying habit of providing an example to illustrate every point that he makes. The book has 962 pages of main text including the appendix but there is really only about 100 - 200 pages of commentary - the remainder is constituted by the authors examples. You can read the book to the exclusion of the examples.
   The author, McMillan,is an experienced arbitrageur and therefore does not focus on directional trading. The first 410 pages concerns option strategies. EXAMPLE: buying and selling calls and puts, 3 advanced strategies for professionals, calenders and butterflies.
   He describes each strategy then suggests follow-up action to apply if the trade goes right or wrong EXAMPLE: leg out, roll down, roll up, roll out, adjust the delta neutral ratio, close the trade.
   He then states how to select the best option for the strategy EXAMPLE: " stock nearing striking price initially, 2 to 4 months remaining until near term expiration, near term straddle price at least two - thirds of long term straddle price" (page 354)
   He then applies the option strategies to different markets EXAMPLE: futures, structured products, stock indexes.
   The author also discusses pricing models however Sheldon Natenberg's book "Option Volatility & Pricing" provides a superior discussion to that of McMillan.
   I recommend the book.Options as a Strategic Investment



4. I am only 100 pages into this book and it has already made me money. (My review is based on the hardcover not the workbook) I have been investing my own retirement funds for years and have dabbled in options from time to time.
   
   I was focused on one strategy and didn't think of all the others. Mr. McMillan provides good examples of all the strategies and refers back to previous charts to reinforce his points. My options trading is now more focused because of the discussion on the discipline and psychology of trading.
   
   At first I was hesitant about paying $50 for a book but it made me 8 times that much in one day. I would recommend this book to anyone who already knows what an option is. While the book starts with the basics it quickly moves on to strategies. Mr. McMillan I may be retiring a bit earlier than I thought. Great book!!!!



5. Great Book , eplains everything in a no nonsense easy to understand wording, BUT if you don't know the basics or not to familiar with investments in general this book will be wasted on you, I've read some chapters 3 or 4 times now and learn and re-learn something new everytime I read (re-read) it, thanks Mr. McMillan you did a great job putting this together.