Customer Reviews:
Loads of great knowledge, but hard, hard work!.......2007-06-01
I read this book a couple of years ago, and found it fascinating and highly detailed. I imagine that for some very technically minded people this is something they can really get their teeth into and enjoy. But for simple folk like me, it was just too much, and I found much simpler methods to interpret Elliott waves that didn't take half as much time or knowledge. So, I give it a 3 star rating as its brilliance is somewhat dampened by its complexity.
Not for the majority........2007-02-20
This book is very complictated. One might have a chance if this book was treated as textbook and offered in a university over a semester long class, taking each chapter apart with live examples.
Other reviews mention that it takes years to master this method.I somewhat agree. The rules of logic are not clear and that is mainly because if the autor wanted to go to great lenght to explain everything this book would be around 2000 to 3000 pages. So, you gonna have to figure it out on your own and that will take you a lot of time!
Get an Elliot Wave Charting software you'll save yourself a lot of headache and time.
excellent style.......2006-08-17
Books concerning Elliot Wave in Taiwan, no matter it is a translation version or the texts used by many teachers in teaching technical analysis, never have the style that
Mr. Glenn Neely has in his book. I must say that this book
expresses the topics in a concise, step-by-step and to-the-point way, it's a great book that I've ever had; no book can exceed its excellence. If possible, grant me the right to translate it here in Taiwan.
very difficult.......2006-06-30
Very hard to understand, if you can read, understand and enjoy this book at all you could probably give the boys a hand in Egypt with the Hieroglyphics ........If you enjoy scientology well this one's for you!!!!!!!!!!!
like learning to ride a bike.......2006-04-22
You really don't need this level of detail for Elliot wave trading to increase your P&L. Like any other trading systems, elliot waves mostly work except when it doesn't. Without years of experience and gains and losses you won't have the confidence to make a huge P&L. Buy a simpler book unless you are really into Elliot Waves. Enjoy the third waves.
Book Description
Selected by the Times Literary Supplement as one of the "hundred most influential books since the war"
How can we benefit from the promise of government while avoiding the threat it poses to individual freedom? In this classic book, Milton Friedman provides the definitive statement of his immensely influential economic philosophy—one in which competitive capitalism serves as both a device for achieving economic freedom and a necessary condition for political freedom. The result is an accessible text that has sold well over half a million copies in English, has been translated into eighteen languages, and shows every sign of becoming more and more influential as time goes on.
Customer Reviews:
The Godfather of the Libertarian Movement.......2007-09-17
An absolute classic work in the areas of Laissez Faire economics and libertarianism. While not everyone in the libertarian movement idolizes Dr. Friedman, his work was written in such a clear and accessible way that it introduced classical liberalism to a generation of people in the 1960's, who were big government Keynesians. Friedman fought for individual liberty, and while he wasn't an anarcho-capitalist by any means and sometimes uses government to solve problems, he is still the godfather of the libertarian movement and the libertarian movement would not be where it is today without Dr. Friedman.
The Hobo Philosopher.......2007-09-14
I hate to be so outspoken on a review of a book. But I find this gentleman elemental, childish and silly. On top of all of that I do not believe that he is entirely sincere. This man was a statistician and "accountant" not a theoretician. He actually won the Nobel Prize. This I find very hard to believe. I have not given up on him though. But I have yet to find anything that he has written that I can get past the introduction. The more I read of what he has to say the worse it gets.
More Capitalist Rhetoric.......2007-08-07
Clearly he overlooks the basic concepts of political economy in an effort to advocate for capitalist societies. Moreover, he fails to confront the basic questions of inequality which is characteristic in capitalist societies.
Friedman asserts that communism and socialism are mere tools of totalitarian regimes as if he's even attempted to study marx. This book is extremely lopsided and narrow in its praise for a system that has accounted for much pain in the world.
If your looking for a balanced intellectual perspective, look else where. However, I will recommend this book after gaining a true foundation on the study of political economy; try Adam Smith, Karl Marx, John Locke, James Mill, Keynes, Proudhon, Ricardo, Owen, Engels, etc.
Like him or not - important to know.......2007-07-26
Overview / Review: Milton Friedman, like him or hate him, is an essential economic theorist to tackle if one is interested in that field or in theories of economic justice. Having a progressive bias, I disagree strongly with many Friedman's theories. Having said that, for anyone interested in getting the essentials of his "liberal" (used in the older, more classic sense) economic views would do well to read this book. Friedman is opposed to state intervention in individual freedom, so many see Friedman as a modern counterpart to Adam Smith. Friedman advocates a free-market economy, with minimal taxation and government interference, because he believes the free market approach assures the greatest measure of freedom, justice, and overall affluence. Many modern conservatives have echoed the arguments he makes herein.
Friedman is actually convincing in his review on a few counts - the abuse of licensure, the problems of tax loopholes, and the fact that there are frequent shortcomings of the well-intended social welfare state. Having said that, however, Friedman does seem unduly biased in favor of a society so individualistic it is therefore almost atomistic, with little to no social cohesion. Some of his arguments are more assertions and claims than full-blown arguments, and one wishes he had addressed major issues in more detail (perhaps he does elsewhere). The book's virtue is that it is brief, but its weakness is also that its arguments are often too brief, and too compact. Karl Marx for example, has many faults in his theory that can be found, but Friedman too casually blows off Marx in about one page of analysis (Chapter 10, p. 167-8). Friedman's argument for a very limited government, and against socialism/communism, would have been more convincing if he had devoted a full chapter to Marx for one, and more attention to other matters of social justice, inequality, and oppression.
In a nutshell: this book encapsulates Friedman's "liberal" or laissez-faire approach to a wide range of issues on economics, government, and capitalism. The free individual is given utmost importance, and government that governs best is that which governs (or interferes) least in his Friedman's view. Not convincing from the standpoint of those interested in progressive social justice (Niebuhr's views on selfishness and power are more cogent), but essential to read and analyze if one is interested in economics and ethics.
Brilliant.......2007-07-05
Friedman was America's preeminent economists that explained the connection between Political and Economic freedom without the signature econo-techno-babble that is the vernacular of lesser economists. This book should be REQUIRED reading for all high school, or at the very least, college students. I enjoyed it immensely and will be wary of "too many dollars chasing too few goods"!
Amazon.com
When Lorenzo de' Medici seized control of the Florentine Republic in 1512, he summarily fired the Secretary to the Second Chancery of the Signoria and set in motion a fundamental change in the way we think about politics. The person who held the aforementioned office with the tongue-twisting title was none other than Niccolò Machiavelli, who, suddenly finding himself out of a job after 14 years of patriotic service, followed the career trajectory of many modern politicians into punditry. Unable to become an on-air political analyst for a television network, he only wrote a book. But what a book The Prince is. Its essential contribution to modern political thought lies in Machiavelli's assertion of the then revolutionary idea that theological and moral imperatives have no place in the political arena. "It must be understood," Machiavelli avers, "that a prince ... cannot observe all of those virtues for which men are reputed good, because it is often necessary to act against mercy, against faith, against humanity, against frankness, against religion, in order to preserve the state." With just a little imagination, readers can discern parallels between a 16th-century principality and a 20th-century presidency. --Tim Hogan
Book Description
Here is the world's most famous master plan for seizing and holding power. Astonishing in its candor The Prince even today remains a disturbingly realistic and prophetic work on what it takes to be a prince . . . a king . . . a president. When, in 1512, Machiavelli was removed from his post in his beloved Florence, he resolved to set down a treatise on leadership that was practical, not idealistic. In The Prince he envisioned would be unencumbered by ordinary ethical and moral values; his prince would be man and beast, fox and lion. Today, this small sixteenth-century masterpiece has become essential reading for every student of government, and is the ultimate book on power politics.
Download Description
Here is the world's most famous master plan for seizing and holding power. Astonishing in its candor The Prince even today remains a disturbingly realistic and prophetic work on what it takes to be a prince... a king... a president.
When, in 1512, Machiavelli was removed from his post in his beloved Florence, he resolved to set down a treatise on leadership that was practical, not idealistic. In The Prince he envisioned what would be unencumbered by ordinary ethical and moral values; his prince would be man and beast, fox and lion. Today, this small sixteenth-century masterpiece has become essential reading for every student of government, and is the ultimate book on power politics.
Customer Reviews:
How one can rule them all with power........2007-10-14
Published in 1532, dedicated to Lorenzo de' Medici, The Prince by Machiavelli is an advanced political science treatise in defence of civilization against barbarianism by way of a single specially disciplined sovereign ruler, a prince.
The Prince by Machiavelli is a brief but complex political management system designed to be run by a prince administered using a series of protocols for any given situation based on Machiavelli's interpretation of the history of the rise and fall of world governments with an emphasis on the Roman Empire and current trends in 16th century monarchy rule.
Machiavelli's analysis of the historical record paved the way for princes to develop awareness of the problem of emergent barbarianism both internal and external. Machiavelli highlighted the need for a prince to always remain liked but indicated that being wanted did not necessarily mean being kind and showed how a cruel prince could also be beneficial to the state which would function, sometimes better, under ruthlessness depending on certain conditions.
Machiavelli was able to successfully understand the different types of principalities and how princes come to power and how they could retain that power tactically. He often cited historical sources to prove his points. The Prince teaches how to acquire cities and how they should be ruled especially after being annexed. In this respect it is also a war treatise although it deals with gain by means other than war. However this is not unusual for a warfare discourse. There are methods of determining strength and calculating a response and so The Prince is a strategic book that has its bases in game theory. The different types of soldiers and how they behave is given a considerable amount of coverage and how a prince should treat them.
The character of a prince becomes a central theme especially concerning how a prince is to be perceived by others. Religion is dealt with and for its time The Prince surprisingly declared Popes potential enemies that could, and would, undermine a monarchy if it was to their advantage. Machiavelli was able to show how a fortress is important for defence but that attack can, and does, come from within. He also had a system to increase a prince's popularity and noted areas in which a prince could socially falter. The book rounds up with a directive to implement these ideas when fortune should arise and to be always on guard against barbarianism which can come from within.
The Prince remains a classic essential in the development of game theory. There are many parallels between this work and the Art of War by Sun Tzu. In fact Machiavelli wrote another book using that very same title. Machiavelli sees power brought into the grasp of one hand by adapting military tactics internally within government operations as opposed to outwardly using them to defeat the enemy. This work is all about controlling what has been gained.
The Prince and its author Machiavelli are often condemned for not only tolerating mistreating people but for advising it in a lot of circumstances especially to prove authority and to take any possible threatening might away from the people. Proponents argue that without a rule of law with stiff penalties people would become barbaric and the system would deteriorate into even more unbearable situations. It is completely open about dealing out harsh measures to guarantee the survival of the state by any means necessary. However The Prince does contain methodologies that incorporate and use control based on kindness but these methods are few and far between.
Overall this book's influence on politics and business cannot be underestimated. Ultimately it is a must read being a very powerful book about being very powerful.
Good information.......2007-10-10
Many of Macchavelli's principal relate to both the Political world and the business world. It should be in every library.
This could be quite hard for those who lack the concentration, it can a valuable book for those who want to obtain a leadership position.
Accomadation.......2007-10-02
The first item was lost in the mail. I contacted Amazon and they sent me another one right away.
A Truely Overrated Book.......2007-09-19
"The Prince" is essentially a "how-to" guide for royalty durring the 1400's in Italy. I'm not going to make this review very long... a short review for a short book. It gets one star. Why? It's a very out dated classic. The advice and philosophical ramblings handed out in this book is quite specific to its time and place, and unlike, say The Communist Manefesto, for example, are no long relevant to us. In fact, it would probably be downright criminal today to run your country in the way Machiavelli suggests you do. This book would be a good read if you are interested in the history of Italian principalities durring this time period. Other than that, there is really no reason to read it. The morality of the book is actually very objectionable, and on top of that... its REALLLLLY borring.
It's probably considered to be a classic work of literature because it is just old. That's all. If I wrote some crap right now about the mythical underpants gnomes, and it survived for 600 years, people in 2600 BC would probably be saying "FIVE STARS for the Underpants Gnome Chronicals. This a great relic from the year 2007! Such insight into their ideology and beliefs...."
Awesome book.......2007-09-06
This book is for serious philosophical readers.
Machiavelli broke down a raw and ruthless political idea. I read the Art of War before this book, and they are similar. However, Machiavelli is much more aggressive. If you're reading this book for entertainment, it can be dry at times. Nonetheless, the information in this book is timeless, and should be an enjoyment for interested readers only.
Book Description
The Wealth of Nations
by Adam Smith
It is symbolic that Adam Smith’s masterpiece of economic analysis,
The Wealth of Nations, was first published in 1776, the same year as the Declaration of Independence.
In his book, Smith fervently extolled the simple yet enlightened notion that individuals are fully capable of setting and regulating prices for their own goods and services. He argued passionately in favor of free trade, yet stood up for the little guy.
The Wealth of Nations provided the first--and still the most eloquent--integrated description of the workings of a market economy.
The result of Smith’s efforts is a witty, highly readable work of genius filled with prescient theories that form the basis of a thriving capitalist system. This unabridged edition offers the modern reader a fresh look at a timeless and seminal work that revolutionized the way governments and individuals view the creation and dispersion of wealth--and that continues to influence our economy right up to the present day.
Customer Reviews:
Surprisingly readable.......2007-09-12
If you have any interest at all in Economics, you'll want to go to the source. This is the source. Adam Smith lays the groundwork for the study of Economics in this very readable treatise.
Though he is discussing 18th century Britain, the topics he discusses have direct analogs in the modern American economy. Taxes, trade, money, monopoly, tarrifs, and international trade balance are all tackled with aplomb.
He really lays into Mercantilism and blasts the protectionism it engenders. Never anything less than a champion of the common man, Smith decrys monopolies and other taxes on those most unable to afford them. Though he seems to be a total free marketeer, he takes great pains to examine the types of taxes which would be useful and prudent for a government to levy.
Once or twice may be fine, but Smith uses this construction for almost every sentence in the book. It is just a stylistic gripe, but the length and complexity of each sentence make digesting the information quite a bit more difficult than it otherwise could have been. I would not be at all disappointed to see this book translated to a more modern style.
Again, if you're interested in Economics at all, this book is the place to start. There is so much good information here to be absorbed and pondered. I recommend it highly.
Adam Smith was a fabulous writer!!.......2007-08-13
Do not be dismayed by the book's substantial girth! The Wealth of Nations is not only an essential, brilliant, philosophical read for anyone interested in economics... but, it is also thoroughly entertaining and even humorous at times.
Seminal work from the father of economics.......2007-05-25
Nobody seriously involved in economics can do without this exhaustive work, originally published in five volumes as An Inquiry into the Nature and Causes of the Wealth of Nations. This classic is a pragmatic and accessible milestone in the history of economics. Its author, Adam Smith, is woven into every economics textbook. However, Smith's theories, which today often are recounted mostly in fragments, frequently incorrectly, reveal their entire social and economic innovative power only in context. Smith burst onto the scene at a time when absolutist national states monopolized the world's precious metal reserves and tried to increase their own wealth through stringent export policies. These states were motivated by an entirely new concept about national wealth: that it stemmed from the work of the country's people, not from gold. Based on that idea, economic markets should balance themselves as if guided by an "invisible hand," impelled by each individual's self-interest. The state has to provide only an orderly framework and specific public goods and services. Even though Smith's image of idealized economic and social harmony may have developed a few cracks over the course of time, his ideas have inspired many well-known economists during the past 250 years, including David Ricardo, Vilfredo Pareto, Friedrich August von Hayek and Milton Friedman. We highly recommend this seminal work.
Go with Bantam.......2007-02-12
If you're wondering which Wealth of Nations to purchase, get the Bantam paperback. This is Smith's complete and unabridged final version of the Wealth of Nations. It provides footnotes on Smith's wording, the historical context, and the differences between Smith's 5th edition and previous editions. In addition, the margin of the pages contain useful notes which summarize Smith's writing. For the price, this is clearly the superior choice.
Now, if you're wondering whether you should undertake such an endeavor, let me just say that Adam Smith was a professor of rhetoric. He explains everything so precisely, yet so comprehensible. Smith's writing is by no means difficult; I actually found it a surprisingly easy read given its antique nature. Once you get through the first chapter, you get quite used to Smith's writing style. If you put adequate time and energy into it, it's not hard at all.
A must read if you are in economics.......2006-09-02
The works of Adam Smith are an essential part of universal culture, especially for economics. The introduction to the book places you at the time it was written, which makes it even more valuable.
Average customer rating:
- "Without suffering and death human life cannot be complete."
- A great alternative to self-help books
- greatest self-help book ever written
- Look to a higher purpose and transcend your situation
- A good book to read if you are and don't know why.
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Man's Search For Meaning
Viktor E. Frankl
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Amazon.com
Man's Search for Meaning by Viktor E. Frankl is among the most influential works of psychiatric literature since Freud. The book begins with a lengthy, austere, and deeply moving personal essay about Frankl's imprisonment in Auschwitz and other concentration camps for five years, and his struggle during this time to find reasons to live. The second part of the book, called "Logotherapy in a Nutshell," describes the psychotherapeutic method that Frankl pioneered as a result of his experiences in the concentration camps. Freud believed that sexual instincts and urges were the driving force of humanity's life; Frankl, by contrast, believes that man's deepest desire is to search for meaning and purpose. Frankl's logotherapy, therefore, is much more compatible with Western religions than Freudian psychotherapy. This is a fascinating, sophisticated, and very human book. At times, Frankl's personal and professional discourses merge into a style of tremendous power. "Our generation is realistic, for we have come to know man as he really is," Frankl writes. "After all, man is that being who invented the gas chambers of Auschwitz; however, he is also that being who entered those gas chambers upright, with the Lord's Prayer or the Shema Yisrael on his lips."
Book Description
Man's Search for Meaning is the chilling yet inspirational story of Viktor Frankl's struggle to hold on to hope during his years as a prisoner in Nazi concentration camps where he endured unspeakable horror. Frankl's training as a psychiatrist informed every waking moment of his ordeal and allowed him a remarkable perspective on the psychology of survival.
Customer Reviews:
"Without suffering and death human life cannot be complete.".......2007-10-10
"Without suffering and death human life cannot be complete."
What is the meaning of life? Frankl try's to answer that through his experience as a prisoner in a concentration camp in Auschwitz (among others) and in his psychiatry practice after the war. Be it by grace, a miracle, or chance, he made it out alive. And now he is here to tell this powerful, optimistic story and help us with an age old question.
He try's to answer this question: " How was everyday life in a concentration camp reflected in the mind of the average prisoner?" This would later influence psychotherapy. Even being surrounded by so much evil there was still kindness to be found in an occasional guard. The prisoners were not always kind to there fellow inmates: there were sellouts and CAPO's; Capo's were Jews that watched over their fellow captives for favors, food, and extended life. Who is to say what any one of us would do. With misery and suffering beyond comprehension, "having a why to live for enabled them to bear the how". I will never look at that last leftover pea the same way.
Writing on his concentration camp experience Frankl briefly discusses "logotherepy". In a later chapter he goes into detail: Logotherepy (which he coined), the "striving to find a meaning in ones life is the primary motivational force in man". In his practice he uses a form of reverse psychology. The last chapter is on optimism during tragedy.
Freedom is only part of the story, he writes: "I recommend that the Statue of Liberty on the East Coast be supplemented by a Statue of Responsibility on the West Coast"
There are many quotables from Frankl, I will leave you with this: "Our generation is realistic, for we have come to know man as he really is. After all, man is that being who invented the gas chambers of Auschwitz; however, he is also that being who entered those gas chambers upright, with the Lord's Prayer or the Shema Yisrael on his lips."
In the end, there is that need for a reason.
Wish you well
Scott
A great alternative to self-help books.......2007-10-06
I first heard of this book years ago through a strong recommendation by Stephen Covey in the 7 Habits, but didn't think about it until earlier this year when I was at Half Price. I was at the bookstore to buy another Covey book, "The 8th Habit", and then I spotted Dr. Frankl's book.
Nothing against most self-help/productivity books (I know I've read more than my share) but after a while they can seem kind of stupid. There's a point where some random dude telling you how you should live your life becomes a highly ineffective approach to growth.
Which is why Man's Search for Meaning appealed to me. Not only does the author back up his thoughts on suffering and meaning through extensive research, Dr. Frankl applied his ideas to help survive his three-years in the Holocaust, and so has a huge personal connection to the ideas he's presenting.
What he's talking about, as many others have agreed, is pretty straightforward: by creating meaning in life, you have the capacity to move beyond any hardship in life. But Dr. Frankl provides a way to really help internalize this idea, which is why I highly, highly recommend this book.
greatest self-help book ever written.......2007-08-30
Viktor Frankl's journey and his amazing survival techniques in the Auschwitz death camps prove to be one of the most meaningful books ever written. If there was 1 book that everyone should read in their life this would be my choice. Forget all those meaningless self-help books on getting rich, getting in touch with your inner self and all that new age baloney that might enhance your life but if your life has no meaning, no foundation for growth than nothing will ever bring you true happiness. In the midst of our greatest struggles we learn our greatest lessons and a life without struggle is not a life with meaning.
Look to a higher purpose and transcend your situation.......2007-08-30
This book is really two works in one. In the first, longer part, Frankl details his experiences in Nazi concentration camps. His purpose is to demonstrate to the reader that even in the most horrific of circumstances it is possible to hold your head high and maintain your sense of purpose and optimism. In the second part, Frankl describes just how his "logotherapy" works.
This book, highly popular in the 1970s, is both informative and practical. If you hadn't previously figured out how to rise above the fleeting events of your life when they distress you, this book makes the process clear and explicit. It is in fact one Western version of some of the main tenets of Buddhism, which tells us that life is only an illusion of endless change, and you must constantly reach for the unchangeable truths beyond that illusion.
Having missed reading the book when it was first popular, I am glad to have finally gotten to it, if a bit late in life. I strongly agree with Frankl's point that "self-actualization is possible...only as a side-effect of self-transcendence". There are additional tidbits I found useful, such as the notion of "paradoxical intention", in which you try to consciously perform some action you are trying to cure yourself of, such as stuttering. Frankl also rightly reminds us that in each situation, you will know for yourself what the one *right* thing to do is, and you must chose that in order to be at peace with yourself.
I gave the book only four stars, since I felt it was a bit repetitive (I wonder what the original 20-volume German-language version was like), continually recycling a single core idea which could have been explained in fewer words - though shortening the text might admittedly have made it less effective. It is in any case a great work, a classic in the psychology and self-help genre, not to be missed.
A good book to read if you are and don't know why........2007-08-15
Very interesting book for anyone who suffers and cannot find any meaning from it. Victor Frankel survived the concentration camps of the Holocaust during World War II. If anybody knows about suffering it would be Frankel. This is an about Christianity or Judaism... it's about believing that there is value in suffering and that nobody can take away your ability to decide how you will think about things in your life. Only you control your own thoughts. This is of course not for children.
Book Description
Market Models provides an authoritative and up-to-date treatment of the use of market data to develop models for financial analysis. Written by a leading figure in the field of financial data analysis, this book is the first of its kind to address the vital techniques required for model selection and development. Model developers are faced with many decisions, about the pricing, the data, the statistical methodology and the calibration and testing of the model prior to implementation. It is important to make the right choices and Carol Alexander's clear exposition provides valuable insights at every stage.
In each of the 13 Chapters, Market Models presents real world illustrations to motivate theoretical developments. The accompanying CD contains spreadsheets with data and programs; this enables you to implement and adapt many of the examples. The pricing of options using normal mixture density functions to model returns; the use of Monte Carlo simulation to calculate the VaR of an options portfolio; modifying the covariance VaR to allow for fat-tailed P&L distributions; the calculation of implied, EWMA and 'historic' volatilities; GARCH volatility term structure forecasting; principal components analysis; and many more are all included.
Carol Alexander brings many new insights to the pricing and hedging of options with her understanding of volatility and correlation, and the uncertainty which surrounds these key determinants of option portfolio risk. Modelling the market risk of portfolios is covered where the main focus is on a linear algebraic approach; the covariance matrix and principal component analysis are developed as key tools for the analysis of financial systems. The traditional time series econometric approach is also explained with coverage ranging from the application cointegration to long-short equity hedge funds, to high-frequency data prediction using neural networks and nearest neighbour algorithms.
Throughout this text the emphasis is on understanding concepts and implementing solutions. It has been designed to be accessible to a very wide audience: the coverage is comprehensive and complete and the technical appendix makes the book largely self-contained.
Market Models: A Guide to Financial Data Analysis is the ideal reference for all those involved in market risk measurement, quantitative trading and investment analysis.
Customer Reviews:
Very shallow.......2005-03-11
You can google in 10 minutes more relevant information than this book is able to provide. It's OK if you need to pick up some terminology and get a rough idea of what it all means before an interview. Totally useless if you need it for work.
Comprehensive, lack in depth and poor organization.......2005-01-23
For a starter, this book does offer a broad spectrum of subjects, volatility/variance measurement, PCAs, Factor Models, Time Series analysis, high frequency data modeling, etc, at the expense of rigor and depth.
Desipite the academic pedigree the author enjoys and the educational career she had, the book is rather poorly organized from a pedagogical point of view. She seems to have a tendency to refer to expressions, notions, ideas, data which appear much later than where the reference takes place. This makes first-timers cringe as they go through the chapters as they are laid out. It reads much like some published papers got dumbed down, and bundled together.
If you are looking for comprehensive introduction, without the gory details of mathematical mumblejumble, this book might be of help. But it may not be used as a reference book, for its organization and for its lack of rigor.
Worth the money.......2003-08-28
If you are looking for detailed rigorous mathematical development then look elsewhere, that is not the reason to purchase this book. It is targeted towards application and there it excels. I have not seen any other book on this topic that so effectively presents a level-headed applied approach that keeps the basic assumptions of the models firmly in sight.
What tool fits when is nicely discussed.
Nice book.......2003-06-21
I will consider this book as a good introduction to different ways to analyze market data (covering mainly equity but do touch on fixed income as well as currency). I would emphasize that the book model the market more from an empirical point of view. The author gives a good description of the GARCH model as well as PCA analysis. Being a fixed income derivatives trading, I find both sections particularly useful for real world trading. The risk modeling section should expand into topics other than VAR such as coherent risk measures which are more useful. The co-integration section is a must for any traders who want to trade mean-reversion or stats arbitrage.
Overall, I think that the book covers all basic to intermediate mathematics, econometrics and finance necessary for anyone who wants to model market data. The book explains how to use such model for trading, risk management as well as market data visualization / understanding.
Nice book.......2003-06-21
I will consider this book as a good introduction to different ways to analyze market data (covering mainly equity but do touch on fixed income as well as currency). I would emphasize that the book model the market more from an empirical point of view. The author gives a good description of the GARCH model as well as PCA analysis. Being a fixed income derivatives trading, I find both sections particularly useful for real world trading. The risk modeling section should expand into topics other than VAR such as coherent risk measures which are more useful. The co-integration section is a must for any traders who want to trade mean-reversion or stats arbitrage.
Overall, I think that the book covers all basic to intermediate mathematics, econometrics and finance necessary for anyone who wants to model market data. The book explains how to use such model for trading, risk management as well as market data visualization / understanding.
Book Description
With a strong empirical and market segmentation approach, this book focuses on how the Internet has changed the way people obtain information about potential purchases, giving readers the most up-to-date material on how technology is changing their lives as consumers. The Thirty-two mini-cases help readers learn by applying the theory, drawing on current business news to demonstrate specific consumer behavior concepts.
This edition now includes thirty-two Active Learning mini-cases. A clear consumer decision making model is set out in each chapter to facilitate learning—presented in the first chapter, this model serves as a structural framework for the concepts—the building blocks—examined in the following chapters. The book's final chapter ties all of these concepts together so readers see the interrelationships and relevance of individual concepts to consumer decision-making.
For those studying consumer behavior and/or marketing.
Book Description
How to trade the markets by integrating Chaos Theory with market sentiment
In the first edition of Trading Chaos, seasoned trader and psychologist Bill Williams detailed the potential of Chaos Theory-which seeks to make the unpredictable understandable-in trading and it revolutionized financial decision-making. The Second Edition of Trading Chaos is a cutting edge book that combines trading psychology and Chaos Theory and its particular effect on the markets. By examining both of these facets in relation to the current market, readers will have the best of all possible worlds when trading.
Bill Williams, PhD, CTA (Solana Beach, CA), is President of Profitunity.com, a leader in the field of education for traders and investors. Justine Gregory-Williams (Solana Beach, CA) is President of the Profitunity Trading Group and a full-time trader.
Download Description
How to trade the markets by integrating Chaos Theory with market sentiment
In the first edition of Trading Chaos, seasoned trader and psychologist Bill Williams detailed the potential of Chaos Theory-which seeks to make the unpredictable understandable-in trading and it revolutionized financial decision-making. The Second Edition of Trading Chaos is a cutting edge book that combines trading psychology and Chaos Theory and its particular effect on the markets. By examining both of these facets in relation to the current market, readers will have the best of all possible worlds when trading.
Bill Williams, PhD, CTA (Solana Beach, CA), is President of Profitunity.com, a leader in the field of education for traders and investors. Justine Gregory-Williams (Solana Beach, CA) is President of the Profitunity Trading Group and a full-time trader.
Customer Reviews:
Solid trading book.......2007-10-23
For large traders and institutional traders who need to move large volume and order flow, this book offers multiple entry and exit strategies and tactics. Out of necessity, these traders have to scale in and out of their positions to dampen the immediate effect of their trading on the markets. Even for private retail traders, this book conveys choice of logical set-ups to incorporate into their trading operations. Overall, I feel that this book deserves your attention.
Great book - very intense.......2007-08-27
I've been looking for a book like this for a while. I first came across Bill Williams through the Metastock indicators and the Expert System. After loading an expert called "PS Fractal Trading System 2" I was amazed at the signals.
Having read through the book - I have the following quibble. There is a huge difference in the parameters of the alligator in what comes with Metastock (v9 and v10) and what the book gives. The book says the green line is 13 bar smoothed average offset 8 bars into future. Likewise the red is 8 bar offset 5, and the green is 5 bar offset 3. However this does not correspond to the Metastock indicator he provides. For the curious, the Metastock ones referred to in page 206 of book have the following values: Green: 9 period EMA of Median offset 3. Red: 15 period offset 5, and Blue 25 period offset 8
It is the right book at the right time.......2007-07-06
This book has methods to get buy signals before the lows and sell signals before the highs. This will help one sell into strength and buy into weakness. It has helped me get my positions off. I have recommended this book to all of my trading friends. It will take careful study to fully understand it. This book is original, all mechanical and all objective. The three wise men make up very powerful trading tools.
Good book.......2007-01-09
Another great book from Bill Williams!
Interesting for trend trading and for good living.
Bill Williams is the REAL DEAL.......2006-12-18
I am a BIG believer in Bill Williams and his body of work.
I have personally met with Bill, taken his home study course and even attended a private tutorial. Bill is the real deal. He is a *highly* profitable trader and Bill trades EXACTLY like he describes in his books (simplified over time, so Trading Chaos, 2nd Ed. is the LATEST and most refined method).
If you just want to trade with no other background information, Buy Trading Chaos, 2nd Edition (not this book) and start with chapter seven. When you get to the end of the book, you'll say, "That's it?!?! Than can't be it!" That's what I said. I then went on to take his home study course (13 weeks) and then went to a private tutorial. 95% of the methodology is IN THE BOOK! The more advanced stuff is for those who are scaling into positions and want more aggressive money management techniques.
Who am I to say this works? I started trading Bill's techniques from scratch. In LESS than 6 months I was up 95% in a medium sized account. I found some like-minded investors and we started our own Hedge Fund (more specifically, a commodity pool). I called Bill personally and he spoke with me at length about how I should flow into and out of my positions, etc. He went far above and beyond the call of duty. I cannot speak to how well my Pool is doing (not legal to disclose - considered solicitation of investors), so I cannot give figures of returns for the Pool.
Buy Trading Chaos 2nd Edition and then buy "New Trading Dim mentions" (his second book) and read chapters 9 - 11. Those chapters will give you more ideas of the SCOPE of just what is possible when you simplify your trading and align it with natural market tendencies (chaos principles).
Good luck and Good Trading!
-- Q
Book Description
Millions of traders participating in today’s financial markets have shot interest and involvement in technical analysis to an all-time high. This updated edition of Technical Analysis from A to Z combines a detailed explanation of what technical analysis is and how it works with overviews, interpretations, calculations, and examples of over 135 technical indicators—and how they perform under actual market conditions. Enhanced with more details to make it easier to use and understand, this book reflects the latest research findings and advances. A complete summary of major indicators that can be used in any market, it covers:
• Every trading tool from the Absolute Breadth Index to the Zig Zag
• Indicators include Arms Index, Dow Theory, and Elliott Wave Theory
• Over 35 new indicators
Customer Reviews:
Technical tool encyclopedia.......2007-06-10
If you are looking for a technical tool reference book for your investing/trading library this is the one. This book covers (in alphabetical order) every trading tool I am aware of including the O' Neal CAN SLIM method, trend lines, volume, stochastics, Williams %R, every kind of moving average, candlestick charting, decline/advance, oscillators and just about everything else you will run across in trading stocks. The author gives an overview of the indicator, the interpretation, an example, then shows how to calculate it with the mathematical formulas used and a table for reference. I read this book from cover to cover and learned a great deal. I believe it is a must have for beginners if you are serious about using technical tools to time your trades correctly at proper buy points.
Good perspective on technical analysis........2007-05-25
Steven Achelis does a pretty decent job of showing what the stock market really is: just a big jumble of numbers completely determined by human emotion. And because pretty much anything involving human emotion is cyclical, it also becomes somewhat predictable.
This book presents an excellent selection of technical indicators that do a number of different things. It also presents formulas for most of the indicators.
Not only Technical Analysis..........2007-04-30
... but also a well written understanding of the mathematical models that make them work. If you trade with indicators, you need this book along with "Pring".
Good Reference, but weak on advice........2007-02-01
As the title says, this covers technical analysis (the analysis of securities based on price patterns) from A to Z, that is to say all the various approaches are covered alphabetically. Everything is covered but not in extensive detail. Each approach is covered in terms of an overview of the approach, an interpretation of the approach, and an example (generally with suitable graphs). No attempt is made to inject the author's preferences or any statistical analysis of the effectiveness of the approach. As such, this is more of a dictionary than a book on investment advice. This is not to say that dictionaries are useless, they are very useful, but they are not the same as a book on how to write. This book will tell you what the particular system is, not whether it is any good. Also, there are many variations of most of the systems and many different values for the parameters used by the systems, so other references will be required if you actually want to apply any of these approaches. The reader should be forewarned, however, that Technical Analysis is only one approach to the market. Many believe that this approach is little more than tealeaf reading and they rely on the analysis of the fundamentals of the balance sheet of the company and its prospects for future growth.
Dictionary with concise commentary and examples.......2006-12-17
Extremely pleased with the purchase and reading experience. The book covers everything I know about and much more that I didn't. I was able to make oscillators, from the explanations given, on excel and was able to make the charts. The Chande Momentum Oscillator is an added, and needed, tool for my analysis for investment. I bought this book because it was the one called out in the Yahoo charts trying to explain the Stoch Oscillator; which, I wanted to understand, and now do.
Book Description
In Investors and Markets, Nobel Prize-winning financial economist William Sharpe shows that investment professionals cannot make good portfolio choices unless they understand the determinants of asset prices. But until now asset-price analysis has largely been inaccessible to everyone except PhDs in financial economics. In this book, Sharpe changes that by setting out his state-of-the-art approach to asset pricing in a nonmathematical form that will be comprehensible to a broad range of investment professionals, including investment advisors, money managers, and financial analysts. Bridging the gap between the best financial theory and investment practice, Investors and Markets will help investment professionals make better portfolio choices by being smarter about asset prices.
Based on Sharpe's Princeton Lectures in Finance, Investors and Markets presents a method of analyzing asset prices that accounts for the real behavior of investors. Sharpe makes this technique accessible through a new, one-of-a-kind computer program (available for free on his Web site, at http://www.stanford.edu/~wfsharpe/apsim/index.html) that enables users to create virtual markets, setting the starting conditions and then allowing trading until equilibrium is reached and trading stops. Program users can then analyze the final portfolios and asset prices, see expected returns, and measure risk.
In addition to popularizing the most sophisticated form of asset-price analysis, Investors and Markets summarizes much of Sharpe's most important previous work and reflects a lifetime of thinking about investing by one of the leading minds in financial economics. Any serious investment professional will benefit from Sharpe's unique insights.
Customer Reviews:
good new book for good price.......2007-09-06
good new book for good price. of all the books on the subject, this is by far the easiest to read.
Important read for professional investors.......2007-08-23
An important, relatively recent book by William Sharpe, a Nobel Prize winning economist and Stanford business prof. Not for the rank-and-file investor; but much useful information for pros and teachers of finance. Last chapter contains a summary of very useful advice suitable for anyone who invests in stocks.
"Normative Issues in a Positive Context".......2006-12-05
William Sharpe, who really needs no introduction, has made major contributions to some of the most influential discoveries in financial economics. From his parsimonious diagonal model which simplified the use of Markowitz' normative (prescribing how investors should behave) mean/variance approach to portfolio choice to the positive (describing how investors actually behave) Capital Asset Pricing Model, Professor Sharpe clearly approaches -- even from his earliest investigations - financial economics from a pragmatic perspective. Of course that work contributed to his selection in 1990 as a co-recipient (along with Harry Markowitz and Merton Miller) of The Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel.
In addition to his academic pursuits, Professor Sharpe has also been commercially successful, as a RAND economist, and as President, Chairman and/or Director of several enterprises related to investments. Of course, practitioners may know him best for his famous "reward-to-variability" ratio which we all know as the Sharpe ratio. Professor Sharpe has also made important fundamental contributions to options valuation, asset allocation implementation, and returns-based style analysis.
His pioneering books are standard text assignments for both undergraduate and graduate students of finance; these include Portfolio Theory and Capital Markets (McGraw-Hill, 1970 and 2000), Asset Allocation Tools (Scientific Press, 1987), Fundamentals of Investments (with Gordon J. Alexander and Jeffrey Bailey, Prentice-Hall, 2000), Investments (with Gordon J. Alexander and Jeffrey Bailey, Prentice-Hall, 1999). Now we are fortunate as an industry to have Professor Sharpe's latest book, Investors and Markets: Portfolio Choices, Asset Prices and Investment Advice (Princeton University Press, 2007), available.
Investors and Markets is the culmination of a series of three lectures Professor Sharpe gave at Princeton University in May, 2004. The lectures, titled "Asset Prices and Portfolio Choice" are designed to help individual investors make good saving and investment decisions, and Professor Sharpe is the first author I have seen to treat both asset pricing and portfolio choice as a single subject in an attempt to do so. The book is also a nice departure from the well-worn mean/variance framework (which places restrictions on beliefs), relying instead on the state/preference approach (which places restrictions instead on tastes) originally developed by Kenneth Arrow and Gerard Debreu. Although it relies on a discrete-time formulation, one advantage of the state/space framework is that it accommodates both consumption preferences and production outputs. Because there are (literally) an infinite number of future states of the world, closed-form derivations are nearly impossible and simulation is required in this context if we are to achieve equilibrium. To do so, Professor Sharpe built a simulation program called APSIM (Asset Pricing and Portfolio Choice Simulator), which was not available a couple of years ago when the lectures happened but since then he has made freely available on his website, [...].
Professor Sharpe's original Princeton Lectures are organized into 1) Equilibrium, in a single-period setting with homogeneity of investor expectations, 2) Diversity, in a setting where investors have heterogeneous expectations, and 3) Protection, a world in which investors have access to spanning instruments such as principal-protected notes. This is also largely the sequence of the book, which is organized into discussions of equilibrium, preferences and prices in chapters 1-4, which basically comprise Lecture 1; positions (reflecting preferences), and predictions (reflecting disagreement among investors) in chapters five and six, material primarily from Lecture 2, and protection and advice in chapters seven and eight, which is composed mainly of material from Lectures 2 and 3. The book concludes with four simple recommendations for personal investment: diversify as broadly as possible; economize on unnecessary costs; incorporate the circumstances and preferences of the individual client in the portfolio decision; and contextualize portfolio choice vis-à-vis asset pricing, keeping in mind the distinction between investing versus betting, desire for principal protection, and the potential trading impact of the investor when he or she eventually requires liquidity.
In Investors and Markets, Professor Sharpe is "primarily concerned with helping individual investors make good saving and investment decisions - usually with the assistance of professionals such as financial planners, mutual fund managers, advisory services, and personal asset managers." Although this book may prove tough going for the layperson, all professionals in the asset management industry would do well by their clients to buy, read and re-read it ... the clients will certainly benefit.
Books:
- Mastering Elliot Wave: Presenting the Neely Method: The First Scientific, Objective Approach to Market Forecasting with the Elliott Wave Theory (version 2)
- Micromotives and Macrobehavior (Fels Lectures on Public Policy Analysis)
- Monetary Theory and Policy, 2nd Edition
- Off the Books: The Underground Economy of the Urban Poor
- Origin of Wealth: Evolution, Complexity, and the Radical Remaking of Economics
- Papa Rico, Papa Pobre: Lo Que Ensenan los Ricos a Sus Hijos Sobre el Dinero-que los Pobres y la Clase Media No Hacen
- Pedagogy Of The Oppressed: 30th Anniversary Edition
- Post Keynesian Price Theory (Modern Cambridge Economics Series)
- Principles of Corporate Finance + Student CD + Ethics in Finance PowerWeb + Standard and Poor's (McGraw-Hill/Irwin Series in Finance, Insurance, and Real Est)
- Public Choice III
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