Book Description
The world’s #1 fixed income book, now with 21 all-new chapters
The Handbook of Fixed Income Securities occupies the top spot as the most authoritative, widely read reference in the global fixed income marketplace. First published in 1983, this comprehensive survey of current knowledge features contributions from leading academics and practitioners and has carved out a niche that cannot and will not be equaled by any other single sourcebook.
Now, the thoroughly revised and updated seventh edition gives finance professionals the facts and formulas they need to compete in today’s transformed marketplace. It places increased emphasis on applications, electronic trading, and global portfolio management, and features new chapters on topics including:
- Eurobonds
- Emerging market debt
- Credit risk modeling
- Synthetics
- CDOs
- Transition management
- And many more
Customer Reviews:
Very useful reference.......2007-08-31
Good reference for bond math and a great thing to have on any debt capital markets desk.. I use it very frequently.. its a classic ..
So far so good.......2007-08-03
Great purchase. The authors do a superb job of describing topics in basic terms then escalate to the nitty gritty number crunching behind the concepts. I recommend for anyone needing a complete guide to FI securities.
good overall reference.......2007-04-19
very good as a reference and general overview; if you want more detail and in-depth analysis you should look for something else but there's lots of specific lieterature out there so this still makes a good starting point
the default reference.......2007-01-06
this is the de facto desk reference for fi securities. it is thorough and well presented. if you are working with fi, you probably have it, if not, you should. also highly recommend the fixed income mathematics text as well.
nice overview of a wide range of topics.......2006-04-16
i give 4.5 stars.
many reviewers comment that this book lacks depth, but hey, it just tries to give a general overview on a variety of fixed income securities, that's what it is, and this book does reasonably well on this purpose. it never means to contain everything on every fixed income securities.
the only thing i am concerned is that the page numbers listed on the index sometimes do not match.
Book Description
Inside the House of Money lifts the veil on the typically opaque world of hedge funds, offering a rare glimpse at how today's highest paid money managers approach their craft. Author Steven Drobny demystifies how these star traders make billions for well-heeled investors, revealing their theories, strategies and approaches to markets. Drobny, cofounder of Drobny Global Advisors, an international macroeconomic research and advisory firm, has tapped into his network and beyond in order assemble this collection of thirteen interviews with the industry's best minds. Along the way, you'll get an inside look at firsthand trading experiences through some of the major world financial crises of the last few decades. Whether Russian bonds, Pakistani stocks, Southeast Asian currencies or stakes in African brewing companies, no market or instrument is out of bounds for these elite global macro hedge fund managers. Highly accessible and filled with in-depth expert opinion, Inside the House of Money is a must-read for financial professionals and anyone else interested in understanding the complexities at stake in world financial markets.
"The ruminations of supposedly hush-hush hedge fund operators are richly illuminating." --New York Times
Customer Reviews:
Insightful visit to the world of the global macro investor........2007-09-28
This fascinating book will take you into the world of current global macro investing. Steven Drobny interviews 13 successful traders, analysts and fund managers who participate in global macro investing in many different ways. Although some of the discussions are technical (but never mathematical), they are readable and easy to understand. Drobny also provides some information on the origins and early years of global macroeconomic investing, from John Keynes to George Soros. He talks to his interviewees about their backgrounds and asks their investment advice. His question-and-answer approach keeps things moving. We enjoyed Drobny's descriptions of the people he interviewed, though the interview-style format leads to somewhat choppy data. This book is surprisingly fun for what could have become a very dense, technical tome in less skilled hands.
Find out what the experts think about investing in the global marketplace .......2007-09-17
This is a terrific book about how 13 investors use global macroeconomics in their work. The shorthand term is global macro. Since the field is pretty much undefined and can include investments of any time anywhere in the world, it is hard to define what exactly it is. In fact, the book isn't about Steven Drobny telling you about what he thinks it is. Instead, the chapters are question and answers with each of these practitioners of this technique.
The first few chapters offer some context and history of global macro investing. The earliest people doing it were probably John Maynard Keynes and Alfred Winlow Jones. Drobny takes us through the key macroeconomic crises of the past several decades and offers a few thoughts about the future.
The people he interviews are Jim Leitner of Falcon Management, Siva-Jothy of SemperMacro, the author's partner, but no relation - Andres Droby, Dr. John Proter of Barclays Capital, Dr. Sushil Wadhwani of Wadhwani Asset Management, Peter Thiel of Clarium Capital, Yra Harris of Praxis Trading, Jim Rogers, Dwight Anderson of Ospraie Management, Scott Bessent Capital, Mark Dimitrijevic of Everest Capital, Rob Standing of London Diversified Fund Management, and an anonymous currency specialist.
All of these folks look for people who are motivated, and have a passion and talent for math, economics, history, and have a demonstrated aptitude for training. You will notice that many have doctorates, but not all. Some learned the trade by trading, all were captivated by the process soon after they first came in contact with it.
I found the range of investments and their thoughts about the global economy fascinating. This is a very interesting book, especially so if you are interested in markets and trading. Their generally gloomy view of the future of the American economy is quite disturbing, though.
Reviewed by Craig Matteson, Ann Arbor, MI.
A Rare Opportunity that Leaves One Wanting More.......2007-08-21
I love to have extended conversations with experts. I feed off their enthusiasm and expertise. These conversations are even more exciting to me, when the person with whom I am speaking is an expert in a field I love.
With only one lowly exception, Steven Drobny has written a winner for me. By interviewing as assembling the edited transcripts of his conversations in his book, Inside the House of Money, Drobny opened a gateway into the thinking and experiences of 13 successful Global Macro investors.
Although many have the reputations as being secretive and reluctant to discuss their market approaches, the author gives the reader a glimpse of the thinking that goes into placing a multi-million trade on currencies, economies and securities.
Drobny is uniquely qualified to do these interviews. As a partner in an international macroeconomic research and advisory firm, he brings a seasoned professional's insight to the interviews. Key historical events that shaped the experiences of these traders are explored. Nuances of the current crowded markets are discussed intelligently. As a result, the reader gains precious insights into the subtleties of running a Global Macro Hedge Fund.
There is only one problem with the book. I found myself wanting more from the interviewees. Drobny gave me access to people with whom I would never have the opportunity to speak. What I read was great, but I wanted more. But then again, I trade like that.
Excellent book.......2007-08-20
I found very interesting and rich of insights.
It's very useful in understanding hedge fund manager's approach to the markets.
Decent overview of global macro traders.......2007-08-15
The book kept my interest and was very informative. Some of the interviews were excellent. I say some, because those that trade closer to my style are obviously more interesting for me. but theres plenty here for everyone.
I liked the interviews of so many different styles because it just proves my personal theory that anyone can make money. Every trader in the book trades differently and they still all make money.
I also like the comments from many of these traders that said that we were heading for a sub-prime meltdown and that the banks would be having problems. This was written more than a year ago, and thats exactly whats happening today. Dow is now down 8.6% off the high it made last month. The volatility is crazy. And these guys predicted it long ago. Lots of good insight from their interviews.
Book Description
In today’s volatile financial environment, growing numbers of investors are looking to flee the stock market in search of safer ground. While the bond market has often been a “safe haven,” confusing new bonds and bond funds make it increasingly difficult for unfamiliar investors to choose the correct fixed income investments. The Bond Book provides investors with the information and tools they need to make bonds a comforting, important, and profitable component of their portfolios. Thoroughly revised, updated, and expanded from its bestselling first edition, this all-in-one sourcebook includes: *A new section on using the Internet to research, buy, and sell bonds *A new chapter devoted to increasingly popular foreign bonds *Detailed information on the inflation-linked Treasury bonds *Explanation of the new categories of bond funds *Tips on how to evaluate and buy bond funds
Customer Reviews:
A solid introduction.......2007-09-28
A great introduction to bonds and there place in a portfolio. The perfect place for the individual to start if they are considering purchasing individual bonds for their portfolio.
However, anyone looking for more in-depth information and strategies will likely be disappointed. Relatively little information about Zeros, TIPS and other products that are likely to be of interest. Start here, and then increase your knowledge with a title specific to your interests (i.e. municipal bonds, etc.).
God book but too general.......2007-01-04
I ordered this book for my business library. I enjoyed the book, but if you want more specifics on the methods of detailed bond calculations, I would recommend a good financial investments text book.
Primer on Fixed Income Products.......2005-09-09
Am nearly finished reading the 2nd printing of this excellent tutorial. Although I have been an avid buyer & seller of fixed income products for many years, the author did a superb job of furthering my mid-level expertise especially in the area of municipal bonds. Her plain language explanations were most welcome as opposed to the plethora of financial techno-babble tomes that share the bookshelf. 5 Stars without reservation.
Too Complicated.......2005-04-19
Thau over complicates her points. The book is too difficult to understand. I am an attorney who has been investing in stocks and bonds for over 10 years. This book is not appropriate for any level investor.
Highly Recommended!.......2004-12-22
This is an accessible introduction to bonds by a financial professional whose first book - as unlikely as it may seem - was a study of Max Jacob, the French poet. The literary background of the author, Annette Thau, may account for her book's clear, easy-to-read style. Most authors who write about bonds tend to get lost in the complex mathematics and specialized jargon of the bond markets. Not Annette Thau. Whether you are an individual investor trying to balance your portfolio with bonds, or a student of finance looking for a more lucid explanation of the subject than you can find in your textbooks, we highly recommend this book to you.
Amazon.com
It's not often--or maybe ever--that a book steeped in emerging-market economic theory reads like a thriller. But And the Money Kept Rolling In (and Out) has cliffhangers and plot twists equal to a detective's tale, as Paul Blustein chronicles the spectacular rise and fall of Argentina's economy at the turn of the 21st century. The book has its flaws, of course, including the author's insistence on using goofy metaphors from the overripe Andrew Lloyd Webber musical Evita (from which the book takes its awkward title). But by and large, Blustein, a staff writer at the Washington Post, tells a cynic's tale of greed run amok on a massive scale.
While policy wonks at the International Monetary Fund had much to do with Argentina's implosion, Blustein also holds the country's own government responsible. Conventional wisdom says that the influence of the world's investors keeps everyone in line--a key tenet of the pro-globalization argument--but in practice, Blustein writes, "foreign funds numbed Argentine policymakers into minimizing the perils of their policies. The effect was similar to a dose of steroids, giving the economy a short-term boost while insidiously increasing the risk of a breakdown in the long run." From that point on, only devastation lay ahead for many average Argentineans, who could no longer remove savings from their banks, and for international investors, who saw their returns vanish in a flash. Blustein effectively makes the case that Argentina wasn't a rare example or a perfect storm of problems, but--bearing "striking parallels" to Enron and other financial scandals of the era--a preview of more meltdowns to come. It's a compelling cautionary tale well worth telling. --Jennifer Buckendorff
Book Description
The dramatic, definitive account of the most spectacular economic meltdown of modern times exposes the dangerous flaws of our global financial system.
In the 1990s, few countries were more lionized than Argentina for its efforts to join the club of wealthy nations. Argentina's policies drew enthusiastic applause from the IMF, the World Bank and Wall Street. But the club has a disturbing propensity to turn its back on arrivistes and cast them out. That was what happened in 2001, when Argentina suffered one of the most spectacular crashes in modern history. With it came appalling social and political chaos, a collapse of the peso, and a wrenching downturn that threw millions into poverty and left nearly one quarter of the workforce unemployed.
Paul Blustein, whose book about the IMF, The Chastening, was called "gripping, often frightening" by The Economist and lauded by the Wall Street Journal as "a superbly reported and skillfully woven story," now gets right inside Argentina's rise and fall in a dramatic account based on hundreds of interviews with top policymakers and financial market players as well as reams of internal documents. He shows how the IMF turned a blind eye to the vulnerabilities of its star pupil, and exposes the conduct of global financial market players in Argentina as redolent of the scandals-like those at Enron, WorldCom and Global Crossing- that rocked Wall Street in recent years. By going behind the scenes of Argentina's debacle, Blustein shows with unmistakable clarity how sadly elusive the path of hope and progress remains to the great bulk of humanity still mired in poverty and underdevelopment.
Customer Reviews:
Superb book - reads like a fiction, hits like reality!.......2007-10-10
This is a short book, easy to read and boy, does it deliver! An account of Argentina during it's economy's heyday and the fall, this book is a fascinating read. It starts off with a brief review of Argentina during the late 1800s and early 1900s but jumps right on the main topic after that. The author explains in extremely lucid prose (no finance knowledge required whatsoever) how the economy was fueled by international funds and how it went bust. Excellent examples, and written like a thriller ... 5 stars all the way!
A wonderful look at how an economy collapsed.......2007-07-09
This book seeks to understand how and why Argentina sank into financial chaos in the early 2000's. The book looks at the role of the IMF, US treasury, private markets, and the Argentinean government in the overall downfall of the country. The author writes very well about his subject and has a good understanding of international economics. The IMF is not completely vilified as it is in many of the current financial crisis's and although it shares a large amount of the blame the book hands it out equally. There is quite a bit of conspiracy theory and engaging in theories behind the IMF and Wall Street as well as the Bush administration. The author acknowledges in most cases that these are conspiracies but they did not really need to be discussed. The most interesting part of the story has to do with the role that the markets played in Argentina. It is an interesting foreshadow for the future of emerging markets and looking at the self fulfilling prophecies of debt and equity. This book deserves its credit for focusing on real issues without engaging in much ideology or theory. If you want to understand how financial markets are impacting areas overseas this is a great book to start with.
Objective chronicle of a nation's collapse.......2007-06-10
This book examines the economic history of Argentina from the early 20th century to 2004, with an emphasis on the time period from 1989 to 2002. The focus is on the financial sector of the economy, and how actions by the government and international financial institutions first ballooned Argentina's economy over a decade, and then collapsed it in just under 2 years. The point of view is from the top, as the book follows multiple important figures throughout this time, including officials at the IMF, officials in Argentina's government, and financial bigwigs in the US and Europe, both public and private.
The author is quite objective and impartial, and lays blame all around. The IMF gets some blame for not being more forceful in getting Argentina to change its ways. International banks and lenders get blame for contributing willingly to the financial bubble of the country. And the Argentinan government gets blame for refusing to consider floating its currency, devaluing it, or restructuring its debt before it was too late. Unfortunately, it was the citizens, mainly poor and middle class, of Argentina who took it in the pocketbooks. All in all a great book, with equal emphasis on economics, public policy, and historical analysis. I highly recommend this book.
Another Winner from Blustein.......2006-10-15
Paul Blustein may have have created a new genre: the real-life financial crisis thriller. Having dissected the Asian financial crisis in "The Chastening," he now turns to Argentina in "And the Money Kept Rolling in (and Out)." The book tells the fascinating story of how Argentina, after being lionized as the poster child of free market reform in the early 1990s, became hooked on foreign debt that ballooned far faster than its ability to service it. The outcome was default and financial ruin in 2001-02, with vast economic hardship for the Argentine population.
As in "The Chasterning," Blustein's narrative is clearly-written and based on in-depth interviews with decision-makers in government, the IMF, and the financial community. He takes aim at perverse institutional incentives and herd-behavior among investors who poured money into Argentina long after it was clear that the country couldn't pay its bills. This profligacy encouraged an attitude of policy-complacency in Buenos Aires that made the final reckoning all the more painful for foreign bond-holders and Argentines alike. Highly recommended.
Economics of Debt.......2006-09-18
This was a very interesting book about the IMF and its dealing with Argentina. Argentina has had a colorful past of financial blunders including one in 1890 which almost brought down Barings Bank when it defaulted on its bond payments. So it was not surprising when Argentina bankrupted again.
Not only does this book have the inner workings of the IMF with regard to Argentina but it also contains some short stories of average people and the catastrophies that befell them because of Argentina's currency devaluation. I found it interesting that because Argentina guaranteed an exchange rate between its currency and the dollar that a lot of people had taken out loans in dollars which proved to be disasterous when the peso was devalued.
All the information about the behind the scenes action of the IMF was very insightful as to the inner workings of global financing of emerging nations. The author did a good job bringing home the facts and helping the reader get to know the players in both the IMF and the Argentine government. In summary this was a good lesson on the economics of what debt can do to a country.
Product Description
This little book contains specific directions to build a portfolio of securities using index and exchange traded funds to conform to Modern Portfolio Theory used by 25% of pension funds and trusts and 10% of individual investors. In the book you will find web sites where you can pose your questions and receive answers from individual investors who follow passive investment techniques. The system is endorsed by academics and noted journalists. It has a record of producing returns that exceed those of actively managed mutual funds and individual stock recommendations.
Customer Reviews:
It truly is never too late.......2007-05-22
Had I come across this book 5 years ago, I would not have read it. BECAUSE...
I was bent on making my fortune NOW, trading TODAY. I had recently lost my job, had all the time in the world, and a little "trading" money. You may read my condensed confession... or not.
I began seeking to make my fortune in commodities, and lucky for me after a few months understood that in commodity trading the small investor is the commodity! It's a pure sucker's game - no ands, no ifs, no buts about it. I decided I must move on, but now with BOTH EYES WIDE OPEN.
I then pursued trading stock options with "gurus" - for very hefty annual fees, cause these guys do just great, cause they always trade with the odds in their favor. This trading arena proved to be somewhat ok, but I truly wasn't making any money for the time and effort required. So I cancelled my annual subscription after 5 months into the year, cause I felt I could do better.
Well, commodities were out, guru stock option trading was out, so why not go directly into stock trading. This would require much more study and work on my part, as I knew little about stock trading. My employment prospects were still non-existent as the "economy" was much worse now than when I lost my job about 1 year ago.
So, let's go make money in stocks (even though I had been told that the real money was in commodity trading - but I knew what commodity trading was all about via personal experience ). So, I ventured into the stock arena. I spent considerable time doing the "stock" trading thingy. But now I felt I needed stock trading advisor newsletter subscriptions, stock trading computer software programs (there are thousands - or so it seems), also now joining stock trading rooms, attending trading group monthly meetings, and so forth, like stock data feeds as opposed to commodity data feeds. And, what to my pleasant surprise did I discover? Simply this, that no one was really making any money!! Most people were losing money, and some I met had lost many thousands, and I distinctly recall hearing about an investor telling another investor how he had made 1 million dollars in the stock market. In essence he stated that he made 1 million dollars in the market by letting his broker trade his account - and his account had several million before he "made" 1 million. I did not verify this, it may have just been a story, but from what I observed, there was definitely some truth to the story. Lucky for me I never had much money to "trade". By now I was spending most of mine observing, simply observing and filing away information. I must say though that In the process I met lots of real nice people, and made several good friends. But again I must state that I experienced that no one was truly making any money. And, I attended several groups doing completely different types of stock trading and stock market analysis.
And yet somehow, deep inside of me a voice kept saying " Surely there HAS TO BE MONEY BEING MADE IN THE MARKETS - THERE SIMPLY HAS TO BE.
So, after considerable time spent stock trading, the next place I parked my presence was with "day-trading" groups trading the E-Minis. Once again, so much time and some money spent - books, software, software simulators, trading rooms, chat rooms, trading systems, mechanical trading systems, trading rules, market analysis all of which resulted in 12-14 hour days, etc, etc, and etc. Spending time following and analyzing one day trading guru, then another day trading guru, then another, then this day trading system, this day trading indicator, MACDs, RSIs, Moving Averages, Volatility Stop indicators, Fibonacci Ratios, it goes on and on and on and on.
Yet the same general result - no one really making any real money on a regular basis - NO ONE!!
Au contraire, most traders were losing, and some losing big. I day traded the mini SP, mini Dow, and thought of day trading the e-mini Russell, but realized it was to no avail. I was simply too dumb to beat the system. But, I do know that the Russell does trend much better than the SP!!!
I could truly elaborate on all of this, but then everyone reading this would know that I truly am "cracked" and many still would not believe that I actually "did" all of this. But, that's not the point.
My point is this - that in the past 5 years I never did meet, nor did I hear about 2 persons in any 1 group that I participated in that were making any kind of profit on a regular and consistent basis, NOT 2.
Yes I have day traded the markets, and yes, I was not very smart, and I did not make any money. And, yes I "lost" money, and yes I spent money "learning" to make money in the markets.
DO YOURSELF A BIG FAVOR - read this little book one time, then read it again. If after reading my comments, and reading this little book you still feel you can do better, then let me know, and I WILL CHEER YOU ON. Just because I may be too dumb and too stupid to make a living trading does not imply that you.
There are thousands of books and web sites dedicated to "trading". They tell you that you can do it, and make great money. Buy their books, subscribe to their letters, follow their systems, use their indicators, scanners, etc. Enjoy, have fun.
As for myself, I have read this little book 4 times. And, I have also read 2 of the books which Mr. Eade recommends. And, I have set up 2 of my accounts using ETF's. And, believe it or not, I have slept much better this last week.
Do yourself a favor. Skip lunch today, and with your lunch money send for this book. Read it.
If you don't like what you read then I'll gladly sell you one of my $175 trading books.
Oh, so glad I remembered. I have cancelled my real time data feed subscription. It will not renew next month. I hope to fill the "live data feed" void in my life with something more worthwhile. Like spending more time outside with my grandson riding bikes and tossing a football.
And I am likely, very likely, to read each and every book recommended by Mr. Eade. This stuff is fascinating, simply fascinating - yet so elusive.
How to Make Money in the Stock Market - Buy 2,500 Different Stocks - Pay no Commission.......2007-04-29
I am a real person and not connected with the author of this book in any way. I am writing this review because the book has been a wonderful help for me! (This book was the most helpful because it cut through all the hype and the smoke and mirrors often associated in the investment arena).
The only people who might be posting negative comments about Mr. Eades book are those who do not like the "TRUTH IN PRINT" and may be loosing business and commissions as their clients choose other viable options in the stock market.
I wanted to write you a quick note to let you know how very much I have enjoyed your book! You have done a wonderful job of taking something very complex (at least to me) and made it very understandable.
I read through the book rather quickly at first and now I am going back through it with yellow high-lighter in hand. I appreciate the fact that you provide very practical and to the point information. The various portfolio options are clear and concise.
Again thank you for writing a great little book. It is jam packed with just what I need to know. I purchased about 5 other books at the same time as I purchased yours through [...], some of which I see you have in your "Books to Read" list. But for myself some of those are beyond me at this point. Yours is at the head of the list!!
The information in this book can easily be validated by people taking the time to do a little due diligence and see that everything that is shared can be backed up by real historical data throughout the years.
I like the quick and to the point style of your book. I drive my car each day but I don't need to know how the engine works.
Terrific Book, Knowledgeable Author.......2007-03-31
This is a terrific, easy to read, and easy to understand book on how to get started making money in the stock market. I'd beware of any negative reviews here as they must be from brokers who don't want you saving money by paying no commission! That being said, if you are like me and have never done this before and have no idea how to get started and what to do, YOU WILL LOVE THIS BOOK! It is wonderfully straightforward and the author has a great deal of knowledge and experience on the subject. While reading, you feel that he puts you on the right track and keeps you there. I started investing too late in life, and this book was a comfort to me because I felt that the author had cut out a lot of the BS and got right to the point. This is a GREAT book, and good for him that he is a self-published author! I'm happy there are people out there like him who are motivated and who provide such insightful and useful services.
The author of this book should be ashamed........2007-03-21
Potential book buyer: read the reviews on this book very carefully. All positive reviews have been secretly written by the same person under different names. Just click on the user's name and look to see if they've written other reviews...nope, they haven't since ALL THE POSITIVE REVIEWS FOR THE BOOK HAVE CLEARLY BEEN WRITTEN BY THE AUTHOR.
Worse still, this guy shamelessly plugs his book by writing book "reviews" on the listings for more famous and far more useful books like Rich Dad, Poor Dad and the Millionaire Next Door.
Power Packed 64 Page Book.......2006-11-22
I purchased this book about a year ago and have purchased copies for my children and two friends at work. I will be retiring at the end of Dec 06 and wish that this book would have been available 35 years ago and I would have read it. It's not complicated and does a good job in explaining index and etf fund usage to build a portfolio and why you use them--cost, performance, supports MPT. I especially liked page 9 and 10 chart of 100k and it's growth over 30 years in an index and actively managed fund. Most charts just show percentage cost impact, this chart shows both percentage and dollars--what a wake up call.
Book Description
A brilliant investor, a born raconteur and an overall smart-ass, Andy Kessler pulls back the curtain on the world of hedge funds and shows how the guys who run big money think, talk and act.
Following on the success of Wall Street Meat, his self-published book on the lives of Wall Street stock analysts, Andy Kessler recounts his years as an extraordinarily successful hedge fund manager. To run a successful hedge fund you must have an investing edge -- that special insight that allows you to reap greater returns for your clients and yourself.
A quick study, Kessler gets an education in investing from some fascinating and quirky personalities. Eventually he works out his own insight into the world economy, a powerful lens that reveals to him hidden value in seemingly negative trends. Focussing on margin surplus, Kessler comes to see that current American economy, at the apex of the information revolution, is not so different from the British economy at the height of the industrial revolution. Drawing out the parallels he develops a powerful investing tool which he shares with readers. Contrarian and confident, Kessler made a fortune applying his ideas to his hedge fund. Which only proves that they may not be as crazy as they sound.
Customer Reviews:
Running Money : Hedge Fund Honchos, Monster Markets and My Hunt for the Big Score.......2006-02-26
great informative book!
A very disappointing read, kind of boring.......2006-01-24
This book is a real letdown. As other reviewers noted, he wasn't running a typical hedge fund strategy. He just bought and held tech companies, either public or private. And he did this during the .com boom. He had the sense to wind down the fund before the crash. Gosh, he made a lot of money. As I think he himself says, never mistake talent for a Bull market.
You don't find out much of anything about his approach, because I don't think there was much too it.
The chapters jump around without much coherence. He seems to be building up to a point, leading to a big 11 page section that entirely in italics, in case you were going to miss it. We have higher margins than the developing world, so the trade deficit doesn't matter. That's it.
One of the least interesting books I've read this year.
Good entertaining book!.......2006-01-23
It's entertaining, interesting, and well written. Not much investment strategies, but fun reading!
Light on content.......2006-01-20
3 stars for its entertaining value, 2 stars for its real worth. The author seems to lack some understanding of macroeconomics, as mentioned in other reviews.
not as good as his other book..........2006-01-06
What made Wall Street Meat entertaining were the personal anecdotes regarding his contact with various well known personalities. This book starts in a similar vein, with stories about his efforts to raise money for his hedge fund. Then the book seems to completely lose its focus. It turns first into a high level history of the industrial revolution in England, and then into an economics lesson. The history is circumstantial and of questionable relevance. The economics is pure poorly thought out drivel. This stuff goes on for chapter after chapter. Had I written a review after the first few chapters, I would have given the book four stars. After finishing the book, I think I'm being generous giving it two stars.
Book Description
Bogle on Mutual Funds is a straightforward assessment of the industry written for the investor who wants a true and unflinching portrayal. Bogle not only explains the basic principles of canny mutual fund investing, but Bogle on Mutual Funds also explores its subtle nuances and exposes the hype and fads that often lure investors into making unwise decisions. This conscientious guide offers strategies for developing a diversified portfolio that will weather the markets short-term variations. Bogle warns the reader of the major pitfalls common to mutual fund investing. Ideal for investors at every level of expertise, Bogle on Mutual Funds shows how to: Design a portfolio of funds to meet your current financial objectives; Recognize excessive fees, minimize taxes, evaluate investment risk, and spot false advertising claims; Balance risk and return through asset allocation strategy and tactics, astute fund selection, and effective use of index funds; Understand the important role of cost, the third leg (along with risk and return) of the eternal triangleof investing; Interpret the data found in such sources as syndicated newspapers, Morningstar Mutual Funds, and other mutual fund guides, and use that information to make better investment decisions.
Customer Reviews:
The single best book on investing!.......2007-08-28
If you're going to read one book on investing and one book only, this is the one! Really, you won't need any other - it's that complete and that good. Not everybody can invest in index funds, but you can and you very probably won't get a better result any other way.
Ecellent book about mutual fund.......2007-06-27
One of the best books about mutual funds in the market even though it is over a decade old.
Good Source of Info on Mutual Funds.......2007-03-31
I thought that this was a very thorough book on mutual funds. Bogle brings to light many things that I wouldn't have known. The only problem is it requires good concentration to get through parts of this book as it can be a bit dry at times. Very good source of information overall. I would recommend it for someone to have as a reference.
Another happy long time Bogle-Head.......2007-03-08
Im a long time fan of John Bogle - few men in private industry, in particular the financial saector,have brought this much integrity to the business. Bought this book when it first came out in'93. Have given copies to two sons, a son in law, and 2 grandsons since then. The advice is priceless in the book. There are only 9 books about mutual funds worth buying, in my experience, 7 have been written by John Bogle, 1 about him and Vanguard (that I know of) and 1 by Venita Van Kaspel (not sure of the spelling)about mutual fund investing. It's hard to understand why one would choose any fund group other than Vanguard. [...]
Introduction to Mutual Fund Investing.......2006-03-28
I found this book to be an excellent "primer" for the novice investor who wants to learn about the basics of investing in mutual funds. Bogle describes the various types of mutual funds in simple plain language.
Book Description
Develop a Winning Investment Strategy -- with Expert Advice from "The Nation's #1 Money Manager"
Peter Lynch's "invest in what you know" strategy has made him a household name with investors both big and small.
An important key to investing, Lynch says, is to remember that stocks are not lottery tickets. There's a company behind every stock and a reason companies -- and their stocks -- perform the way they do. In this book, newly revised and updated for the paperback edition, Peter Lynch shows you how you can become an expert in a company and how you can build a profitable investment portfolio, based on your own experience and insights and on straightforward do-it-yourself research. There's no reason the individual investor can't match wits with the experts, and this book will show you how.
In Beating the Street, Lynch for the first time:
* Explains how to devise a mutual fund strategy
* Shows how he goes about picking stocks, step-by-step
* Describes how the individual investor can improve his or her investment performance to rival that of the experts of the investment clubs.
Customer Reviews:
A study in excellence.......2007-02-15
What a great book of explanation. He gives many of his normal habits to us that are away from all the other advise of investors and financial advisors. His whys may sound old fashioned but look at his record and you will be old fashioned also if you could obtain what he did. I will read any and all of his other books now. I only see one listed at this point but will hope to find him writing more. I have been in the Magellian fund since 1986 and his success has proven itself to me personally.
Entertaining and useful.......2007-02-10
This book is a must-read for anyone interested investing. Peter Lynch ran one of the most successful mutual funds in history, the Fidelity Megellan Fund, which averaged an annual return of 29% during his 13 year tenure. He is also ranked by Wall Street as one of the most successful stock pickers on the planet. In Beating the Streets, Lynch outlines his common-sense approach to stock picking. The approach, labeled as "buy what you know" by Lynch, or investing in your "circle of competence" as referred to by Warren Buffet, is a simple strategy the yields results proven by many successful investors. In his book, Lynch goes through his entire process of stock picking from how he discovers a lead through what numbers he looks at to how he investigates the company behind the stock. I found the book to be an extremely accessible, comprehensive, and practical guide that is written in an entertaining and light-hearted manner. I highly recommend this book to anyone that wasn't born with a fortune in their bank account.
The Lynch Classic--Unbeatable, except perhaps Warren Buffett's Annual Reports.......2007-02-04
Lynch makes lots of good points. One of them is as a small investor you can buy into thinly traded stocks on the way up, such as APCC in the early days.
Big funds simply can't get enough stock to make it "worthwhile," an interesting point, usually overlooked by the pros in their writing.
if you want to know how to invest you don't need this book!.......2007-01-29
if you want to know how to invest you don't need this book!
90% of this book is Peter Lynch story
not as good as I expected.......2007-01-22
A lot of repeating in this book. Lack of good ideas.
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