Investment-management

It's a very well written book. The main purpose of this book is to show that mutual funds industry overall does not provide a good choices for regular individual investors and the book covers this topics exceptionally. It really reveals the real intentions of the industry and shows that this is the only way this indstry can work. The book advocates passive investment and especially index funds and exchange traded funds (ETF). While there were already quite a few good, if controversial, books about efficient market theory ('You can't beat the market'), such as famous 'Random walk On Wall Street', this book brings more details about today market environment and explains what choices passive investor has. My only complain is that sometimes I feel some kind of zealotry in authors considerations. Even for somebody that believes in efficient market theory some of the statements in this books could seem very questionable. Stock mutual funds takes majority of books space but the moment authors venture to the other territory (and they do try to cover practically all kinds of investments) their arguments often seem too absolute. Still, this is the book every investor in mutual funds must read (and it will probably convince you to make some changes in your investment strategy - it did this for me)

The Great Mutual Fund Trap explains how you avoid wasting remarkable amounts of time and money in a futile search for the mutual fund or money manger that is going to beat the market. It does the job in clear English but without oversimplifying. The chapters explaining efficient markets and capital asset pricing models are especially good at showing the relevance of these arcane theories to the average investor.

This book should also be recommended reading for anyone who serves on the board of a non-profit institution with an endowment.

Even the Managing Director of Morningstar thinks this is a must read book. The "Trap" illuminated how much of my returns have been lost in fees and taxes AND how this really adds up over time. It also explains why it is pointless to try to beat the market through churning a portfolio. Further it shows that the lists of the best performing mutual funds are grossly distorted and a poor way to go about picking the best funds. I learned a great deal about investing from this book and highly recommend it!

"The Great 401(k) Hoax" offers an accurate, well-researched analysis of what has become an fallacious bit of common wisdom in the United States: that the Stock Market is a means by which average Americans can amass wealth. It is a lie, perpetrated by the US financial industry to divert funds that would have gone into traditional, safer long-term investment options like bonds, start-up businesses or real estate into mutual funds and small-investor portfolios.

A part of this transfer is the 401(k) plan, where the weight of a pension plan is supposed to rest on stock investment rather than defined benefits (pensions where retirees receive fixed payments). The authors do an excellent job of explaining why companies in America switched from defined benefit pensions, and why using the Stock Market as a basis for them is a terrible idea. Readers of "One Market Under God" will find this information and argument very familiar, but the specific focus on the 401(k) plan and it's impact on the future retirement of millions of Americans is enlightening.

The major failure of the book is in its writing style. I've edited MA Theses and Dissertations that were vastly superior in terms of diction and command of the language than this book. Frankly, whoever edited this book should be fired. Also, I have to seriously wonder if the authors did not enjoy reading "The Starr Report" a little too much. Clearly they have a bone to pick with Bill Clinton, which is fine with me. However, by the middle of the book, I wanted to strangle them both if I had to read that Clinton blew another opportunity to do great things because he had "Monica's thong wrapped around his head." Their efforts at sarcastic humor detract from what is a very serious subject - the future retirement of millions of Americans - and their every sarcastic effort comes across as the work of a witless junior high schooler obsessed with potty jokes.

This book, written by a senior contributing editor and former staff writer for Business Week magazine, makes a powerful showing that the 401(k) and other defined contribution retirement plans exist for the benefit of corporations, not for the individual investor. For me, the most impressive argument was the mathematical proof the authors offer showing that it is simply impossible for a large number of Americans to retire on their stock market earnings. In 1999, they claim, the entire after-tax profits of the whole corporate sector of the United States economy came to $455.7 billion. Distributed evenly among all Americans 65 years of age or older, this comes to only $1,117 per month. And we know darn well it is not and never will be distributed evenly. Other statistics they cite show that the average amount held in a 401(k) plan is ludicrously low compared to projected retirement needs. No doubt, this average has dropped precipitously even since the time their book was published, owing to the worsening of the recent economic downturn.

Other books, such as "Retirement Myth," have explored the difficulties inherent in the idea of mass retirement. The problem is stunningly simple, if you think about it: stocks represent a right to a share of future corporate production. In other words, to a share of the value of the work put in by other people, from the CEO to the guy who sweeps the floor. Never, in the history of the world, has a large proportion of a population been able to live solely off of the work of others. Even slavery supports only a privileged minority.

The solution the authors offer is to invest in bonds of various types, including U.S. savings bonds. This rankles a bit, too, because savings bonds depend on future taxes paid by other people. The same is true of social security. Given the choice between corporate profits and an obligation backed by the full faith and credit of the United States Government, however, it's not too difficult to see which is more reliable. I think most of us should just resign ourselves to working at least part time as long as we are able to do so.

The great 401(k) hoax has a long-term view that is very sobering and that people must pay attention to. The public has been told that they will do best if they take care of their own pension plans -- this saves corporations billions of dollars!

Got a degree? Got a family? Got a life? Then by all means, you need got money?

This entertaining, informative book is a lifelong resource of financial information not only for those in their twenties and thirties, but for those of us for whom thirty is but a distant memory. Written in a friendly, open style, reading got money? must be what sitting down and talking to Jeff Wuorio is like. From interest rates to bonds, stocks, budgets and home ownership, this book is chock full of information and handy websites for further research that is sure to become a critical reference for years to come. Of special interest are the tips on budgeting and saving for the future. Personal anecdotes further enliven the book, and one comes away feeling not only well informed, but awed by the wealth of knowledge that Mr. Wuorio possesses. It is clear from reading got money? that getting money and being successful in saving, managing and using it is not just for the well-heeled or the older generation. This book is number one on my list of holiday gifts for all the young people in my life.

Wuorio offers advice on most every aspect of a person's financial profile; credit cards, cars, homes, investments --- but does so in a straight forward and humorous manner. It was actually FUN and informative to read this book and I know that I'm more armed to make smart decisions on a myriad of money choices

Reading "Got Money?" is like sitting down with a friend and chatting about money--provided that friend is funny, lively and knows nearly everything about budgeting, insurance and 401k's. Whether giving advice on getting out of debt or explaining the intracacies of investment, Wuorio shows he has done his homework, and is anxious to share that information with 20- and 30-somethings. And like a trusted friend, Wuorio doesn't claim to be the final word on any topic, but ably directs readers to useful Websites for additional information. In short, this book is what every book on financial advice should be, but most aren't: practical, direct and -- dare I say -- enjoyable reading.

CERTAIN SECTIONS COULD HAVE BEEN WRITTEN MORE CLEARLY. THE SERIES OF EVENTS LEADING TO A FORECLOSURE WAS DIFFICULT TO FOLLOW.

AFTER READING THE BOOK, I STILL DIDN'T GET A CLEAR IDEA HOW CLEAN THE TITLE WILL BE AT EACH STAGES OF THE FORECLOSURE PROCESS.

THE BOOK MENTIONED THAT CERTAIN STATES USE DEEDS WHILE OTHERS USE MORTGAGES. BUT IT DIDN'T TELL YOU WHAT YOUR STATE FALLS INTO THUS WHICH PROCEDURE TO FOLLOW NEXT.

IF YOU FOLLOW HIS METHODS FOR SEARCHING OUT THE PROPERTIES, YOU'LL PROBABLY HAVE TO DO THIS ON A FULL TIME BASES. AT CERTAIN STEPS, I'LL RATHER PAY FOR CERTAIN SERVICES TO SIMPLIFY THINGS.

THE BOOK DOES HAVE MANY USEFUL TECHNIQUES ESPECIALLY ON PERSON TO PERSON CONTACT AND NEGOTIATION SKILLS.

Of the several foreclosure manuals I've read, this is definitely the best. The author gives several examples of his own purchases making it more believable. This one is not quite as hyped-up as the usual get-rich-easy real-estate book. The 3 phases of foreclosure, along with lots of good technical how-to details are covered. I highly recommend it!

George Achenbach, has written other real estate books under the names Val Cabot and Lee Crown. He has been a builder of 7,000 houses and a buyer of foreclosed properties. He tells of his sucesses as well as his unsucessful ventures into the foreclosure world. His book has pictures of and descriptions of the various foreclosure cases with which he has been involved. His book is written from the prespective of somebody who actually worked foreclosures for many years. This is not the easiest area of real estate investment to work, but through deligence and perserverance the rewards can be extremely lucrative. There are other books on foreclosure, but I can't think of any that are as good. Over 50,000 copies of this book have been sold and with good reason. There are a lot of PRETENDERS in the foreclosure field with books and course that have high promises and little substance. George Auchenbach is the REAL Deal. He's done foreclosure investing for many years and has written an easy to read layman book on foreclosure.
My only criticism is that some aspects are dated. The cases in the book stretch back over the 30+ year career of the author and therefore some of the dollar amounts and the years of the transactions are old. However the principles and lessons learned from the author's experiences are timeless. This is best book on foreclosure that I've read, but I'm still looking for something better, that perfect book. If I could I would have rated it 4.5 stars. I recommend this book to anyone interested in buying foreclosure real estate.

If you're lookin for an extensive overview of all the basic theories of IPOs, this is a good book. It's like an "IPOs for Dummies". Focus is a bit too much on Underpricing, however. I missed good overviews of Long Term Underperformance and Hot Issue Markets. Quite old (1996) so a lot of important work is not covered. New version was released 1999.

Financial economists (academics) have an interesting way of interpreting the world. When it comes to IPOs, what practitioners think and do and what the academics "think" that they do are often different.

This book is a solid contribution for those who what the academic IPO literature interpreted for them. It succeeds admirably at what it does, which is to interpret the findings of a lot of published studies in the finance journals that are hard to wade through unless you are a PhD in economics.

I teach finance to MBAs and this book was an excellent review and synthesis for me and fairly accessible to my MBAs. I understand the book has been updated in '99. That is good, since this topic is still in flux.

This is NOT a "how to" go public book. It is a valuable conpendium of how economists think about IPOs.

Looks like the effective date of the info is 1993 from a legal disclaimer in the begining of the book. For the price, this book packs a lot of good information on the IPO process. It thoroughly covers the ins and outs of IPO, SEC regulations, investment bankers, underwriting, etc. Gives a lot of good info regarding the advantages and disadvantages of going public. Lots of reference to the hot bio stocks of the late '80 (Genentech). Nice coverage of the Microsoft IPO. Good reference source for choosing underwriters, but probably needs updating. Would be great if this book could be updated to reflect the current .com IPO era.

I first decided to check out this book after having read Kiyosaki's Rich Dad's Guide to Investing. In his book, Kiyosaki touched on being the Ultimate Investor i.e. the selling investor, the kind of investor who puts together businesses that the public crave for and would pay a premium for. The IPO is the Holy Grail for those want to make it big. In the words of a venture capitalist, the IPO vehicle is "The Greatest Legal Creation of Wealth in the History of the Planet".

Arkebauer's "Going Public" is an excellent primer for those just starting out in understanding IPOs. Using plain language and cutting out the gobbledygook, Arkebauer takes the reader through the different stages of an IPO - from assessing if an IPO is the way to go, to assembling the IPO team, the pre-IPO steps, the IPO process itself, and the post-IPO steps. In this edition, Arkebauer also introduces the latest method of raising capital via Internet Direct Public Offerings.

I found this book to be thorough and detailed enough to satisfy even those who are CEOs and who may need a quick crash course in IPOs. One very important lesson I learnt from this book is the need for any entrepreneur aspiring for IPO, to get prepared and started from day one. Going public is an extremely complicated and tedious process. The IPO process can be made easier if the aspiring entrepreneur plans early.

For those interested in reading further on IPOs, I recommend 2 other books - "The Complete Going Public Handbook: Everything You Need to Know to Turn a Private Enterprise into a Publicly Traded Company" by Frederick Lipman, and "The Ernst & Young Guide to the IPO Value Journey" by Stephen Blowers et al.

This is the perfect starting book for young men and women thinking about getting involved with startups, even if as employees. An ideal book for use in the classroom. Going Public is not superficial; it probes deeply into SEC rules and regulations and explains in considerable detail the financial quagmire of the first few years. Probably the best text on the subject.

I had the privilege of reviewing this book in manuscript stage for the publisher, and was extremely impressed. This comprehensive guide to public offerings in the electronic era delivers on the promise of its title--and in clear, engaging style. It takes a practical, step-by-step approach to an extremely complex area. It's a must for any firm considering an IPO!