Business Books
Related Subjects:
More Pages: 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 42 43 44 45 46 47 48 49 50 51 52 53 54 55 56 57 58 59 60 61 62 63 64 65 66 67 68 69 70 71 72 73 74 75 76 77 78 79 80 81 82 83 84 85 86 87 88 89 90 91 92 93 94 95 96 97 98 99 100 101 102 103 104 105 106 107 108 109 110 111 112 113 114 115 116 117 118 119 120 121 122 123 124 125 126 127 128 129 130 131 132 133 134 135 136 137 138 139 140 141 142 143 144 145 146 147 148 149 150 151 152 153 154 155 156 157 158 159 160 161 162 163 164 165 166 167 168 169 170 171 172 173 174 175 176 177 178 179 180 181 182 183 184 185 186 187 188 189 190 191 192 193 194 195 196 197 198 199 200 201 202 203 204 205 206 207 208 209 210 211 212 213 214 215 216 217 218 219 220 221 222 223 224 225 226 227 228 229 230 231 232 233 234 235 236 237 238 239 240 241 242 243 244 245 246 247 248 249 250

You will laugh your guts outReview Date: 2007-01-02
Not one of Korman's bestReview Date: 2005-08-24
So what's my point? If you want to read a great Korman book, get a MacDonald Hall book, I Want to Go Home, or Who is Bugs Potter?, and leave this one until you don't have any left.
Wonderful!!!Review Date: 2002-04-02
A childhood favoriteReview Date: 2003-09-04
The "Ambulance" gang is great -- going from city to city ... a summer camp on wheels! Artie, the main character, is a true shyster, but you absolutely love him.
As a kid, I was intrigued by and a bit envious of the Canadian kid who could sell people attack jelly, open a club called the "Pretzel" in Denver and still manage to elude the FBI.
Get a copy of this book -- you won't be disappointed!
One of Gordon Korman's best booksReview Date: 2005-06-30
The story is about Artie Geller an 11 year with a very special talent - he is the world's best entrepreneur. He joins five other 11 year olds and tour counsellors Rob and Dennis on a road trip from Canada to Los Angeles. Along the way he comes up with numerous highly successful (and highly hilarious) money making schemes and before long has his whole tour bus (the "Ambulance") involved. The characters are so likeable and the adventures so much fun, you'll wish there really was a "juniortours" and that you could go along on the ride!
In my honest opinion Gordon Korman's "No Coins, Please", "I want to Go Home", "Don't Care High", "Semester in the life of a Garbage Bag" and the two "Bugs Potter" books are MUST reads for anyone (young or old, boy or girl) who loves a good laugh and a book you can't put down. The Bruno and Boots series are also definitely worth a read if you can get hold of them.
I highly recommend "No Coins, Please" - you will not regret buying it!

Used price: $4.06
Collectible price: $19.95

Do NOT buy a house without reading this book...Review Date: 2008-02-25
Excellent for Learning Negotiation in Business & RealestateReview Date: 2007-09-25
Is there a Cliff's Notes version?Review Date: 2007-07-09
That being said, the tactics that are laid out seem reasonable and workable, but are repeated ad nauseum. An additional annoying feature of the writing is the tendency to spend several pages giving the reader a drawn out anticipatory build up to the few tactics the author will convey on the upcoming pages. The point-diluted anecdotes about poorly orchestrated buyer negotiations are followed up by several paragraphs that give the reader a pep talk without really conveying any information, making the book feel like an infomercial as one reads through it.
...This buyer acted poorly and spent way more money than he needed to. Don't want to be like him? Well you should read this book! Here's another story about a buyer that did something stupid. Don't want to be like her, either? Well, keep reading! Eventually, I'll get to the 5 sentences you need to read in order to know what to do instead...
Perhaps others would disagree, but as a reader with an engineering background, unless I'm reading a book for pleasure, I skim for the pertinent information. Separating the wheat from the chaff, this book should be about a third of the thickness that it is. However, if you have the time the time to shop around for a house (and by time, I mean *at least* a month or two to actually go out and look at houses) *and* to read through and separate the useless parts of this book from the parts that actually contain good advice and tactics, I would recommend it.
The Selling Agent's Worst Nightmare.Review Date: 2006-02-23
Reading it again.Review Date: 2003-12-25
The book is geared toward using a realtor or buying agent, but I found everything was just as applicable if used "going it alone." Especially some of the resources listed in the back for comps, etc. It's a very easy book to read and it doesn't try to make you a slick rapid-fire negotiator. It teaches you very simple yet effective techniques that may be common sense to some other readers, but they weren't to me. Admittedly, Cummins is repetitive in his messages, but I think the repetition serves to firmly ingrain the techniques in your mind so when you do actually get in front of the seller/realtor, you don't let your emotions get the best of you.
As a result of what I learned from this book (and also by not using a realtor), I saved $25K on a $185K house. I also used the techniques in negotiations during a car purchase and during salary negotiations for a new job. Best 17 bucks I ever spent.
Now I'm starting to look for my second house, so I'm re-reading the book (and going without a realtor again). I'm holding onto the first house as a rental, but I hope that if I ever have to sell, it's not to a buyer who's read this book!

Used price: $15.00

Excellent ToolReview Date: 2008-01-13
I went through the book myself first and then contacted Marlys to help me "fill-in-the blanks". Marlys was very prompt in responding and turned around a full assessment within one week. The result is that I now understand why I didn't enjoy my previous jobs, and most importantly, I know what I need in my current job to derive satisfaction and enjoyment from my work. Now, I can clearly articulate my career and life goals because I know what my strengths are, and I will build upon them to achieve the greatest success. I look forward to being much happier and excited about my work as well!
It finally all makes sense...Review Date: 2005-04-14
Invaluable book...Invaluable assessment toolReview Date: 2005-09-14
What Will You Be When You Grow Up?Review Date: 2004-05-04
In this excellent work you will learn about Motivated Abilities, and why you should work to your strengths more than always trying to improve your weaknesses. You will understand why you are particularly good at some activities, and perhaps a bit less so at others.
After you have read the book, help with understanding your Motivated Abilities is available from Marlys' company, Marlys Hanson and Associates. While the book teaches the method of doing this analysis oneself, the experience of Marlys and her team will help you learn even more about yourself for a modest additional cost.
I wish I had found Marlys sooner, but am thrilled that I found her at all.
Very Useful Resource, Highly RecommendedReview Date: 2004-03-26
As much as I enjoyed Miller's books, I needed something practical to accompany it. I found "Passion and Purpose" to be just that. It gave me a superb framework to map out the necessary data and analyse it. One result: understanding my motivation payoff, a major "ah-ha" for me, and something I doubt I would have come to on my own.
The section pertaining to analysis I found to be particularly helpful. It assisted me to be both throrough and quick. Several subseqent sections that help work through a "Best-Fit" scenario and team design I also found extremely useful.
I would say that "Passion and Purpose" is a wonderful companion to Miller's books and/or as a stand alone work on giftedness. It believe it will really help you to identify and maximize your natural design, motivations and abilities, and ultimatley lead to a more impactful and fulfilling work life.

Used price: $4.59

Useful introduction to intermediate public speakingReview Date: 2008-02-19
A "Must Read" for all Professional Speakers !Review Date: 2007-12-31
Usefull focus for those who need it...Review Date: 2007-11-18
This book is one of the finer books on public speaking I've ever reviewed. The beauty of it is in it's ability to be used in many ways. For instance, if you just want to hit key chapters relevent to your particular engagement it even offers which ones to read. It also offers a end-to-end approach which I think flows well for those who need a complete point of view in their speaking.
I would take issue with a previous review noting the lack of A\V embesshiments to speaking such as powerpoint... This is a book on building successfull tactics to speaking. It offers key strategies to prepare, connect and flow with your audience.
I have always dreaded speaking myself, not out of phobia, but out of a lack of confidance to think on my feet. This book really identifies why a good presenter has made themselves good and how we can use those same techniques.
I have attended a few "be a better speaker" workshops which focus on a few of the ideas presented here. The difference in this book is in it's completeness and relevence. I will bring it with me to every speach I make from now on.
Full of helpful tipsReview Date: 2007-08-18
A Must-Have for anyone who wants to speakReview Date: 2007-07-27

Used price: $17.01

Success That Never FailsReview Date: 2008-07-19
Success System That Never Fails AUDIO MP3Review Date: 2008-07-11
A Self help book worth readingReview Date: 2007-11-30
The Richest Man in BabylonReview Date: 2008-03-26
Go to the core to get the truth!Review Date: 2008-02-16

Used price: $1.56
Collectible price: $14.95

A book whose time has comeReview Date: 2007-12-15
In efforts to inform work on strategic innovation and marketing, I have plowed through far too many derivative, nonsensical business titles over the years. Before I picked this up, I was a little concerned that it might be a cult book; however, given the importance of rural renewal, I was willing to give any earnest voice the benefit of the doubt.
It was wrong to have prejudged "Ripples from the Zambezi." If this has risen to the status of a cult book, then Mr. Sirolli would be the first to suggest that you never mindlessly apply any approach he might propose. In our left-brain weighted society, it is easy to mistake an enthusiastic voice for a naïve one--but there is a basis for this enthusiasm that is powerful, and which Mr. Sirolli explores fully.
The ideas here are different. Mr. Sirolli speaks to the potential and the results of connecting with each entrepreneur holistically to engage heartfelt intention and remove obstacles to successful growth. The message--that individuals can realize hope for themselves, for their families, and for their communities borne of connecting passion with skill and action is a big message--and the Renaissance man who delivers it is capable to the challenge.
Every paragraph of Ernesto Sirolli's book is loaded with mature, interdisciplinary insight. It is a book whose "time has come" and whose wisdom is carefully woven through the subtext: it's personal, easy to read, and gut-wrenchingly smart.
Do it NOW!!!!!!!!!!!!!!!!Review Date: 2007-04-11
a must readReview Date: 2006-09-30
I highly recommend the book.
WonderfulReview Date: 2005-07-22
From The Innovation Road Map MagazineReview Date: 2005-05-13
E. F. Schumacher
This was a fun and insightful book to read. Amidst all the discussion about radical, disruptive and breakthrough innovation, this book is a refreshing reminder that small things can make a big difference. It's a reality check for big budget innovation programs and economic development programs that usually end up stealing a company from one community in order to develop the economy of your community (a zero sum game by the way). This book is about dedicated, skilled innovators with a passion for their innovations and facilitators who provided the missing ingredients preventing these passionate innovators from making their ideas a reality. Sometimes, those missing ingredients were connections to the right people. Sometimes they were small sums of money (ridiculously small amounts of money that yielded great returns). And, sometimes it was adding small supportive or enabling innovations that turned an idea into a viable business model. And, always it's about the pattern of product, process and procedure innovation that worked.
Sirolli's journey began as a member of an Italian economic aid organization in Zambia. They noticed that the land along the Zambezi River was incredibly fertile. They thought that if they brought modern farming knowledge and applied it to the land, they would demonstrate to the natives just how much they could benefit. Of course, what did the Italians decide to grow? Tomatoes. The soil and weather were perfect. And, the tomatoes grew - the biggest most beautiful tomatoes the Italians had ever seen. The Italians watched with pride as their crop matured. The natives silently watched and laughed among themselves. One morning, just when the crop was about ready to be harvested, Sirolli reports that they came to the fields to find them totally destroyed. The hippos of the Zambezi had eaten all the tomatoes and laid the fields to waste, and the only tell tale signs were the ripples in the water.
Sirolli quotes Pliny the Elder, "There is always something new out of Africa." Sirolli writes, "Those who have worked in an African country will tell you, if they are honest, that they always learn from the expereince much more than they had bargained for...I am no exception." Later he states, "I became conscious of the fact that we were not doing the right thing - and consciousness is an extraordinary thing."
"Right now, in your community, at this very moment, there is someone who is dreaming about doing something to improve his/her lot. If we could learn how to help that person to transform the dream into meaningful work, we would be halfway to changing the economic fortunes of the entire community," the author comments. This is Sirrolli's credo. It is clear upon reading the book that the author has had a good classical education (formal or informal). His thinking about innovation is colored by Schumacher, Maslow and Rogers.
His advice, based on Schumacher is, "If people don't ask for help, leave them alone. And, there is no good or bad technology to carry out a task - only an appropriate or inappropriate one. Something big, modern and expensive is not necessarily best; it all depends on the circumstances."
"Because of Maslow and Schumacher," he writes, "I came to understand that successful development has to do with the quality, not quantity of life." Human beings are striving creatures. When one level of need is met, people move on to higher levels in an endless cascade. Is it any wonder that this country grew as it did because the founders understood this about people and claimed equality, life, liberty and the pursuit of happiness?
With this framework, the author was able to explain his experiences in Africa. "They were secure and did love and had self esteem in the same proportions Western people had, maybe even more. Some of them were beautiful, wise, self-actualizing people reaching for the apex of full humanness," Sirolli writes.
The level of what is enough at each stage of development is set by cultural and psychological factors. Some people get stuck in the pursuit of material goods and others have lower levels of satisfaction and move on to the next higher state of development. The natives had enough food, safety and security for them, and they could move on to higher levels of human development.
From Carl Rogers he found that "that it was possible to help people heal themselves by simply being there, listening, facilitating and responding to the client's needs for communication and finding values to live by." "The aim is not to solve one particular problem but to help the individual to grow so that he can cope with the present problem and with later problems in a better, more integrated fashion."
Later, he continues, "Reading about the champions of the human race, I couldn't avoid creating, in my mind, a demonology - that is, a list of the demons oppressing us. Contrary to Dante's Inferno, however, my hell wasn't populated by naked gluttons, greedy merchants, and assorted petty sinners. The torturers had no tails; rather they were well-dressed authoritarian figures who, in the name of an idea, would torture and beat the psychological life out of the people in their power. From unyielding bureaucrats to religious fanatics, from political extremists to avid do-gooders, my demonology started to contain anybody who dreamt up a code of conduct and tried to manipulate or coerce others to follow it."
Sirolli's encourages his facilitators to support clients who have a marriage of both passion and skill. "But becoming what we are is invariably difficult," he writes. "We have to commit ourselves to a course that may prove to be unpopular with our peers, unfashionable among our friends, and unbecoming in the eyes of our parents. Striving for individuality is always a lonely business. Passion is what propels us during our solitary journey." Commenting on skill he writes, "Our generation is a generation without masters. We are still under the impression, and like to think, that The Beatles didn't have to learn how to play music; that Jimi Hendrix picked up a guitar one morning, put a big joint in his mouth, and started to play like a god. Does the next, younger generation, understand that there cannot possibly be art without skill?"
"Facilitation," he writes, "is based on the belief that it is human to dream and desire. Faith in human nature is what makes it work." "The skill of the facilitator is to become available to those who have the dream and to help them acquire the skills to transform it into meaningful and rewarding work. The skill of facilitation is therefore a communication skill with a twist. It isn't so much that facilitators have to communicate to their client; rather they have to be the kind of person one likes to talk to." Their role is to simple remove the obstacles that stifle a client's growth.
He identifies the characteristics of facilitators:
Facilitators are passive
Facilitators are visible
Facilitators provide just-in-time help
Facilitators work in confidence
Facilitators act like swans
Facilitators love action
Facilitators are a loaded spring
Facilitators assess the person and the motivation behind the idea.
Facilitators understand that ideas are cheap, passionate individuals are rare
Facilitators establish true communications and build trust
facilitators don't play power games
Facilitators are non-threatening, unassuming friendly listeners who make people want to talk to them.
The book is full of examples and case histories, and is divided into 14 chapters:
1. Out of Africa
2. The Technology Fix
3. Homo Cupeins - The Desiring Man
4. Out of the Mountain Cave Back to School
5. The Art of Shoemaking
6. The Esperance Expereince
7. The Esperance Model Applied
8. On Facilitation
9. Training Facilitators
10. A Word of Caution
11. Facilitation and Economic Development
12. A Quiet Revolution
13. The Politics of Personal Growth
14. Epilogue - Civic Society, Social Capital, and the Creation of Wealth
As you can see from the outline, the discussion covers a good deal of territory and Sirolli has meaningingful insights in all the topics. For example, "The shift by governments away from resource driven economies to valued-added ones cannot take place without recognizing that our greatest assets are not the ones that lie underground. Our greatest assets must be our energy, imagination, and skill - our commitment to good work and to the pursuit of excellence and the courage to fulfill our ambitions. Every single person is important in the creation of a better, wealthier, smarter society. Whether employed are not, engaged in export service industries, in the arts, sports or tourism, the quality, both of personal and professional, of every single person is what will make a country prosperous."
And, "Thus the freedom to become is the key to unlocking civic society and long term economic prosperity. Wealth can be generated in the short term in exploiting natural resources, but 1,000 years of prosperity can only be created intelligently by working together, exchanging ideas, sharing technology and resources, and helping each other do well in the understanding that a myriad of wealthy self-employed people produce an economic system immensely more resilient than any alternative."
And, "The beauty of Maslow's theory is that it explains that helping each other is not done out of charity, but out of our need to be appreciated, loved and respected."
Michelangelo, who believed his role as a sculptor was to release the images that were already in the stone, wrote:
"The best of artists hath no thought to show
which the rough stone in its superfluous shell
doth not include; to break the marble spell
is all the hand that serves the brain can do. "
To make his point, he carved a series of "unfinished" works depicting humans emerging from the rock (The Prisoners).
Metaphorically, the facilitator's role is the same.
And, if the facilitator is blessed with double insightful vision and can not only see the beauty inside the innovator, but can see the community that could emerge as a result, then a community transformation can occur.
You just have to read this book. And, when you do, write something about it. Better yet, use it.

Used price: $4.82
Collectible price: $26.95

Simple rules for building a good reputation and foundation of values....Review Date: 2007-05-10
Excellent and Essential AdviceReview Date: 2003-05-15
Reputation building has always been a profitable way to grow a business. `Reputation is not the same thing as a brand' Batstone says. Instead he says, `Reputation is the perceived character a company holds to public eye', which is probably the best definition this reviewer has read. Using the eight principles outlined in the book, managers are guided through examples that have helped or hindered individual companies. IKEA vs Home Depot for example is cited in the Community section of the book - the underlying principle being `A company will think of itself as part of a community as well as a market'. Which one would you rather have open a store in your community, and why? For the record, the residents of Mountain View, CA (a pretty town near to Silicon Valley) said they'd prefer an IKEA, and not because they like modular Swedish furniture.
The eight principles outlined in the book are:
Principle One: The directors and executives of a company will align their personal interests with the fate of stakeholders and act in a responsible way to ensure the vitality of the enterprise.
Principle Two: A company's business operations will be transparent to shareholder, employees and the public and its executives will stand by the integrity of their decisions.
Principle Three: A company will think of itself as part of a community as well as a market.
Principle Four: A company will represent its products honestly to customers and honor their dignity up to and beyond a transaction.
Principle Five: The worker will be treated as a valuable team member, not just a hired hand.
Principle Six: The environment will be treated as a silent stakeholder, a party to which the company is wholly accountable.
Principle Seven: A company will strive for balance, diversity and equality in its relationships with workers, customers and suppliers.
Principle Eight: A company will pursue international trade and production based on respect for the rights of workers and citizens of trade partner nations.
If you are looking for one book to share with others in your organization to start a discussion on integrity and reputation, Saving the Corporate Soul should be it.
Picked low fruit missed the AgribusinessReview Date: 2003-05-28
Batstone does a nice job on the content he handles but fails miserably in addressing the core problems at the heart and soul of corporations today.
The Book for our TimesReview Date: 2003-04-29
My question: will anyone act accordingly after reading this?Review Date: 2004-09-09
You can read many books on "corporate responsability", ethics, and caring for the environment. But, when pressed for profits, in real life, when your job is on the line, would anyone "do the right thing"?.
Don't get me wrong... I praise the author for writing books like this one. And more like it are needed. But the question should be: aren't corporations, often almost-run by stockholders (with CEOs always on the line and on the brink of getting a kick by angry shareholders) and also the executives heavily influenced by wall street gurus, are all of them capable of "corporate responsability" and a long-term strategy?. I'd say no.
I think that companies that "sell out" to the stock market lose their soul, and become tools for a few speculators to "make a quick buck". A stable, responsible company then starts sailing at the mercy of a few stock market gurus and the volatility of the international stock markets. But of course, that is my personal opinion.
The Canadian documentary titled "The Corporation" (can't wait to see it on DVD - for the moment check out www.thecorporation.tv ), argues that Corporations as we know them today, and specially mutinational ones, are flawed by design.
The movie surprisingly got a great review on financial publication The Economist, which praised it:. It begins with a potted history of the company's legal form in America, noting the key 19th-century legal innovation that led to treating companies as persons under law. By bestowing on them the rights and protections that people enjoy, this legal innovation gave the company the freedom to flourish. So if the corporation is a person, ask the film's three Canadian co-creators, what sort of person is it?"
"The answer, elicited over two-and-a-half hours of interviews with right-wing captains of industry, economists, psychologists and philosophers, and left-wing intellectuals, is that the corporation is a psychopath. Like all psychopaths, the firm is singularly self-interested: its purpose is to create wealth for its shareholders. And, like all psychopaths, the firm is irresponsible, because it puts others at risk to satisfy its profit-maximising goal, harming employees and customers, and damaging the environment".
I repeat: try to read this book, and then watch The Corporation (the documentary), which shows the opinion of real execs, in real life. Both essays will make you think, probably getting in the way of your good night's sleep.

Used price: $0.01

Timeless principles of Leadership in actionReview Date: 2007-01-31
They highlight the astonishing truth that the best leaders' focus upon building up the people around them, that no man is great on his own.
This very readable leadership 'story' - thankfully light on matrices or charts -draws out more purposeful insights than most books on the topic.
Creative and educationalReview Date: 2006-09-23
Sevant Leadership is not for WimpsReview Date: 2005-12-10
Great resource on servant leadershipReview Date: 2005-06-20
Understands Deeper IssuesReview Date: 2005-12-19

Excellent Book to save timeReview Date: 2006-12-23
Read it or at least the summary; then just hand it to a co-worked, family member or anyone you just want to help out.
I have deleted more e-mails without opening them then ever in my life. Since I read this book it has handed back hours a day to me that I was wasting on work and e-mails.
Excellent BookReview Date: 2004-04-03
Thank you for your contributions for helping to make a healthier more informed work environment and employee for those who take a long time to get there.
The original "Simplicity" is a must-read companionReview Date: 2005-09-26
WOW! Buckle your Seat Belts. Review Date: 2005-05-13
1) Its fun and challenging "If your boss doesn't get it, and has a high likelihood of never getting it... time to say "goodbye". Pretty simple right?
2) Attitude of "You don't have to be a victim of corporate crap"... reminds me of a refrain I have heard from my husband when he talks about his day job "They can't even run their own life, I will be damned it they run mine"
3) Respect yourself more. Your time is valuable. Push back.
4) The complexity starts from within. From within my own company, within myself.
The How To Section(s)
Scan incoming subject and author, if not relevant hit "delete"
Scan email for 1) action to take 2) deadline date.
In sending messages use the 3"x5" space constaint.
If it is simplier it is more likely to be done. Make it easy.
Remember the key: what do you want them to know, feel and do!
Presentations:
Turn the one point you want people to know into a question. Provoke conversations. Give everyone handouts. Use of Stories is a good thing.
1 hour presentation = 20 slides MAX!
Meetings Big Idea!! When you agree to chair a meeting approachit as if you have just been handed a portion of someones life. Because you have. Run a meeting like one that you wish you had been invited for.
Helpful hints 1) get only the important people 2) get the right people 3) define what success looks like 4) Mentally see the successful meeting 5) Put the objective of the meeting up front
6) Be passionate about the people and reason of the meeting.
Fix my job......please!Review Date: 2004-05-15
Nothing in this book is easy, though. Someone as inclined to follow the rules like myself will find it difficult, if not impossible, to implement the more demanding recommendations. This is a shame, as these people are those who would probably benefit the most.
Even if you don't think of yourself as a rabble-rouser, you should still read this book and take heart that there are some possible methods of extracting yourself from business situations that leave you feeling busy, but not very productive. There are ways of escaping the bureaucracy and yet keep your job.
The cutest, yet still effective, idea in the book is the "Less-O-Meter" associated with each chapter. These graphical gauges give you an "at a glance" reading on how much Courage you will need to put this tip in place, how difficult it can be and the possible yield to your productivity and happiness.
You may be ready to take on your whole company and engage in full-scale "pushback", but implementing even one idea from this book could do a world of good for you, your job and your career, while helping your company, as well.

Used price: $1.50

Some Good: Lots of HypeReview Date: 2008-03-16
The trouble is that one gets the sense that only Mr. Buffet has ever made money buying individual stocks. Apparently everyone else has failed. This book seems to cherry pick studies to make its point, but in the end it contradicts itself. One of the main reasons the author provides for the fact you will not make money buying individual stocks is the you are fighting an efficient stock market. Apparently if you believe you think a stock is priced too low, the efficient stock market proves you wrong. Everyone else has voted with their money as to the price of the stock...and therefore you will lose.
In making this point the author overlooks the points he makes in the latter part of the book that contradict his earlier "efficient market" theory. He talks about the herd mentality of the market, which makes the herd head in the wrong direction. Well, I guess the market is not so efficient after all. Everyday we see the market overreact to good news and bad news, causing wild swings in stock. If a stock is worth $48 one day, and $31 dollars the next day, then climbs back to $43 dollars...then the market is not so efficient.
Recently we've seen Apple fall from $190 to $120 and climb back to $150 in the span of 4 or 5 weeks. To me this means the market is not efficient. Yet that is one of the central contentions of the book.
I think you can ignore the gloom and doom about investing in individual stocks...as it is based on a mixture of good points intertwined with drivel. But the authors advice concerning the strength of index funds and diversification is very sound. So if you only get that point from the book, than the author has done well.
The simple way to investReview Date: 2007-07-08
Larry has strong feelings about his subject, so if you're not doing his way, he will tell you about the "loser's game" you're playing. Hopefully you'll get it.
More people should tune in passive investing.
Take the Gambling out of InvestingReview Date: 2007-07-02
It essentially says investing in individual stocks is speculating (gambling), not investing. Over the long haul, individual investors (event the top fund managers) don't beat the overall market.
Invest in the S&P 500 or other major index and you will build a fine nest egg for retirement, according to the book.
This is not a book for someone who wants to double their money in 2 years. It is for the person who wants to turn $100,000 into $800,000 in 21 years (assuming 7% returns that double your money every seven years). Not a bad end for an extremely diversified and responsible investment plan.
So if you are 44 years old, and you have $200,000 to invest, you could safely build it to $1.6 million when you turn 65, if this book is correct. I think it is.
Easily one of the Top 10 Investment books of all time...Review Date: 2007-03-06
He distills and presents a lot of Finance research in this book in a very very readable form. The advice in this book is timeless. Among many other things, this book has the best discussion of the equity value premium.
For around 10 bucks, the price of 2 (maybe three lattes), the average (even advanced) investor can get an education that will serve him/her well for the rest of their investing lifetime.
Looking forward to Larry's next book.
Another Swedroe ClassicReview Date: 2006-05-28
I read all 4 of Larry Swedroe's stock investing books in the last few weeks, and although they are excellent books and I agree with most of his recommendations, he tends to re-use the same information in each book. To keep this book straight in my mind, compared with the other 3 books, this review is structured along his Outline of the book.
Truth 1: Active Investing Is a Loser's Game: It Must Be So
Larry lays out the case why active investing always loses to passive investing.
Truth 2: The Past Performance of an Actively Managed Fund Is a Very Poor Predictor of Its Future Performance
He does a good job of citing many studies demonstrating that past performance is not a good predictor of future performance.
Truth 3: If Skilled Professionals Don't Succeed, It Is Unlikely That Individual Investors Will
Truth 4: The Interests of Wall Street and the Financial Media Are Not Aligned with Those of Investors
He points out why passive investing is not promoted by Wall Street and the financial media.
Truth 5: Risk and Reward Are Related: Great Companies Provide Low Expected Returns
Truth 6: The Price You Pay Matters
Truth 7: The Most Likely Way to Achieve Above Average Returns Is to Stop Trying to Beat the Market
Truth 8: Buying Individual Stocks and Sector Funds Is Speculating, Not Investing
Truth 9: Reversion to the Mean of Earnings Growth Rates Is One of the Most Powerful Forces in the Universe
Truth 10: The Forecasts of Market Strategists and Analysts Have No Value, Except as Entertainment
Truth 11: Taxes Are Often the Largest Expense Investors Incur
Truth 12: Knowledge of Financial History Is Critical to Successful Investing
Truth 13: Adding International Assets to a Portfolio Reduces Risk
Although I agree with the author's claim that foreign stocks help reduce portfolio risk, I do have trouble believing or following his recommendation of 20 to 40% asset allocation in foreign stocks. I feel more comfortable with a 10 to 20% allocation to foreign stocks.
Truth 14: There Is No One Right Portfolio, but There Is One That Is Right for You
He points out that investing is not an exact science, and the optimum portfolio is difficult to achieve. Each person must get comfortable with the risks and complexity of their allocations. He also gives a convincing argument for skipping mid-cap stocks in favor of only small and large cap stocks.
Conclusion
A: The Enron. Debacle: Lessons to Be Learned
It was interesting to see how some of the supposedly smartest brains in the investing world loaded up on Enron stock, including the Janus funds.
Appendix B: More Investment Truths You. Must Know to Be a Successful Investor
Appendix C: Investment Vehicle Recommendations
Great list of investment choices to implement you asset allocation plan.
D: The Home Financing Decision:To Borrow or Not
Nice analysis of an issue than many investors struggle with. He combines a nice financial analysis with the "able to sleep at night" test.
All-in-all, a great book for serious investors who manage their own portfolios. To me, his four books are very similar. If you choose one of the four books to read, I think you will get 90% of his message versus spending the time to read all 4 books.
I would suggest companion books to supplement this book including The Richest Man in Babylon, Bogle on Mutual Funds, The Millionaire Next Door, The 4 Pillars of Investing, A Random Walk Down Wall Street, Index Mutual Funds: How to Simplify Your Life and Beat the Pros, the Coffeehouse Investor, and the Bogleheads Guide to Investing.
Related Subjects:
More Pages: 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 42 43 44 45 46 47 48 49 50 51 52 53 54 55 56 57 58 59 60 61 62 63 64 65 66 67 68 69 70 71 72 73 74 75 76 77 78 79 80 81 82 83 84 85 86 87 88 89 90 91 92 93 94 95 96 97 98 99 100 101 102 103 104 105 106 107 108 109 110 111 112 113 114 115 116 117 118 119 120 121 122 123 124 125 126 127 128 129 130 131 132 133 134 135 136 137 138 139 140 141 142 143 144 145 146 147 148 149 150 151 152 153 154 155 156 157 158 159 160 161 162 163 164 165 166 167 168 169 170 171 172 173 174 175 176 177 178 179 180 181 182 183 184 185 186 187 188 189 190 191 192 193 194 195 196 197 198 199 200 201 202 203 204 205 206 207 208 209 210 211 212 213 214 215 216 217 218 219 220 221 222 223 224 225 226 227 228 229 230 231 232 233 234 235 236 237 238 239 240 241 242 243 244 245 246 247 248 249 250