5 comments about How to Make Money Selling Stocks Short (Wiley Trading).

1. I learned of Gill Morales though Gary Kaultbaum's radio show and then Subscribed to the Gilmo Report as a result, A lot of this book is his writing and is well done. I have been trading now for over 20 years and you never stop learning. Shorting stocks is a stressfull endevor for me and the more I can learn proper entry the better. The book goes though how to spot tops in stocks and speaks of general market direction as well. There are lots of charts that should help you to get the basic theme of how to spot these stocks. You should have a good foundation in Technical Analysis and back that up with company fundementals. You can make much more money going short if you know how to do it correctly. Traders want out of the Pool a lot faster than they want to get in. This can result in 15 to 20 percent gains in several days.



2. How you rate a book on stocks depends upon what your level of experience and trading methods. I have been investing in stocks for several years, but am not a professional trader. I had never done a short sell. This book gave me clear insights into finding valuable short sales.
   
   It could have been written a bit more clearly. O'Neil makes assumptions about the reader's understanding of some terminology, but it isn't a fatal mistake.
   
   After some explanation of what to look for and why most of the book contains marked up charts of real life examples. I'm finding them more helpful than a lot text that says very little that is practical as in some other books.



3. * The steps mention inside this book can still be apply with the current market.
   * If you are looking for selling stocks short, this book is definitely for you.
   * The only thing we need to succeed in this industry is for us to have a high capital at the very beginning.



4. The authors provide a rich set of charts that illustrate the life cycle of leading stocks from the past that ran up, topped, then rolled over. Such examples provide a key to understanding how leading stocks behave, and therefore, what to expect of future leaders. The charts clearly depict, in a bull market, how leaders advance in price as they break out of a series of constructive consolidations over time. In a bear market, these same leaders do the opposite, as they break down from a series of short, wild, erratic bases that can't seem to hold above their 50-day moving averages.



5. I've read several of these online reviews and am pretty stunned by them. I have found this book to be very useful. I have implemented its strategy and the past couple months have returned me decent profits. It explains all the necessary conditions needed for successful short-selling. If readers are looking for a step-by-step guide or some miracle formula, then perhaps stock market investing isn't the way to go. The only critique that I have about this book is to maybe include daily charts since these are necessary in timing short sales. If a 2nd book is published, then I'll be all over it.

2 comments about Personal Finance Workbook For Dummies (For Dummies (Business & Personal Finance)).

1. This book gives you some good pointers not all of them financial. I wish I had read this book when I was in my 20s



2. Excellent, I like her perspective. Her other books are helpful, as well as her recommendations.

5 comments about Market Wizards: Interviews with Top Traders.

1. I am kind of critical to these books. Probably half of the interviews are worthwhile to read. Some trading styles are enlightening. Last chapter is full of BS though. All in all, a good read!



2. Nutshell review - an entertaining book with lots of insights and ideas from some of the most sucessful market traders. Worth reading.



3. I generally only read textbooks about trading. Statistics, technical analysis, calculus etc. However, this very entertaining collection of interviews may be my favorite and most informative read. The stories give re-assurance that an individual can succeed through their own studies, analysis and effort. If you read carefully between the lines, you can figure out how the best in the business are operating and how they are formulating their strategies.



4. Worth the time to learn how expert traders analyze the market. One of many in my collection.



5. It has been very useful and important reading this book. I think every trader or the one who wants to be it should read this series of interviews. I thought I was the only one who felt and experimented all the pain, doubt and all kind of experiences when trading but I see that even the great traders have felt the same in some moment. I see that is part of the process of learning although you never stop learning. A lot of tips and ways of trading are shown in this book that will be of great help for those who read the book. I strongly recommend it.

5 comments about A Trader's Money Management System: How to Ensure Profit and Avoid the Risk of Ruin (Wiley Trading).

1. Read this book before you lose your life savings or a portion thereof. I would venture to guess that most "non professionals" play in markets without a plan or system. It may be true that more people lose money in the market than make money in the market, especially in 2008. Well, if you fall into this category you need to read and use this book before you make another trade. Money management discipline is more important than stock picking!
   
   This book is an easy read. It will, in a clear and concise manner, guide you to create your trading system for money management ("preservation"). Learn your strengths and identify your weaknesses. Understand your risk psychology and how to develop a "Traders Mindset" that fits you. Entry rules, stop-loss exits, risk-of-ruin tables, tracking systems and risk management rules, it is all here. It's well laid out and worth the investment in your financial future. I am glad that I bought and am using this book. Highly recommended!



2. That's the million dollar question at the heart of sound money management, how much should you risk on each trade? McDowell answers the question superbly in his book and gives the reader tools to answer this question for yourself. The debate on this topic has raged on prior to the release of McDowell's book and will surely continue on long after as well.
   
   Some traders will urge you to never risk more than 2%. And, the traders in this camp feel that Ralph Vince's obsession with Optimal f formulas pose far too much risk for any trader. While other traders (see a John Bollinger review posted on one of Vince's books) will warn you against risking too little. The dilemma with risking too little is that you will minimize your rate of return and weaken your edge.
   
   Perhaps, as McDowell's new book outlines, the answer to this question lies somewhere in between. He compares, and spells out, two ways to determine how much to risk: 1) referring to the risk of ruin tables; and 2) using the Optimal f formula. Either way, you absolutely need to know what both your current pay off ratio and win ratio are, so that your choices are based on data not impulse.
   
   This book gives you the formulas and information to make an informed decision on how much to risk. How you use the information (via testing your own system) is up to you.



3. I am a veteran of over 30 years of hands-on trading and a former member of many exchanges, NYSE, ASE etc
   
   Even though I have been a successful trader I have always had a problem exposing myself to too much risk and undue stress.
   
   In this book the dedicated reader will gain useful insight into the only secret on Wall Street and that is money management.



4. A very clearly written and readable text on the #1 topic for success as a trader. The book offers valuable advice on crafting a money management system tailored to your individual style and needs. In my opinion, one of the best books out there on this hugely important topic. What sets it apart is it's readability. This will be a book I come back to a lot, I am sure.



5. Watch Video Here: http://www.amazon.com/review/RHJ41D0Z1V960 One of the few books out there that focuses completely on one of the most important, yet often overlooked aspects of trading, money management. Where other books tend to devote only a chapter or two on money management, Author Bennett McDowell devotes his entire 170 page book to the topic. Here you will find answers to some of the most important questions in trading such as why money management is so important yet often overlooked, the psychology of money management, strategies for placing stop losses, how to scale into and out of trades, and how to correctly size positions. Also included are sections on record keeping and how to analyze profits and losses, complete with record keeping documents that can be photocopied directly from the book.

5 comments about The Everything Kids' Money Book: From Saving to Spending to Investing - Learn All About Money! (Everything Kids Series).

1. This is a valuable book about $$. And it isn't just for kids. I'm actually buying one for a grown-up for the terrific advice!



2. Great book for kids to learn about money. Not only does it give suggestions on how to make money, but most importantly what to do with the money once you've earned it.
   
   *Ideas for making money.
   *Tips on how to spend money wisely.
   *Most importantly ways to invest the money that you've earned so your money can multiply.



3. This book definitely teaches a lot about money itself. Over half of the book is on the history of money, how it has been used in the past, America's coins and paper money (including reading a dollar bill and anti-counterfeiting), different types of banking (savings, checking, plastic and electronic) and even ventures into discussing the Euro. On page 80, it begins introducing where money comes from (allowance, gifts and working) and the book closes with a chapter on investing but parents may wish to look for a book devoted to teaching investing (if that is your objective).
   
   This book reminds me more of a fun trivia book or a book one would use for a school report. It definitely has a lot to teach in terms of money facts, several of which, I am sure many adults do not know. There are also "Fun with Money" sections (penny relay races, don't move the penny, hiding the coin, etc.) in each chapter which will surely keep kids entertained. This is one of the unique things found in this book as opposed to others. I wouldn't be surprised if kids read all those pages first!



4. This book is ok. I have been reading it with my eight year old daughter. The reading contents are somewhat complex for an eight year old to grasp. I have to really break down what the author is saying. If this book is for kids I believe the author could have done a better job in making it a little friendlier. I am looking for another book to invest in, one that is a little simpler.



5. My eight year old liked this book, but not as much as some other books about money and investing. The illustrations could have been a little more colorful.

5 comments about The Entrepreneur's Guide to Business Law.

1. This book deserves to be on the shelf of every entrepreneur. The Entrepreneur's Guide to Business Law will take you on a virtual tour of the start-up process, and beyond, from the legal perspective. As experienced entrepreneurs understand, any business is a web of relationships, many of which are detailed in legal documents. This is the case for the relationship (establishment) of the entity with the state, relationships between co-founders, relationships between employees and the company, relationship between the company and its investors, suppliers, customers, etc. The legal foundation for all of these is clearly explained, and this book includes a wealth of practical information that will help any entrepreneur to work more efficiently and effectively with their legal counsel.
   
   Steven K. Gold
   Author, Entrepreneur's Notebook: Practical Advice for Starting a New Business Venture



2. A book that every entrepreneur should read. Read it before you start the company, it will help you a lot.



3. This book goes into great detail about all aspects of Business Law. Anyone who currently owns a business or is thinking about opening a business needs to read this book, or at least have it near by as a reference guide.
   
   However, the book is certainly aimed at Corporate USA and those who are looking to start up a BIG business. If you are looking to open or currently own a Small Business, then there are better books on the market that are tailored more to your needs.



4. Includes all important areas of law for the entrepreneur. Was most helpful for our incorporation. Good, short, to-the-point, comparisons of S-corp, C-corp, LLC, partnership, and sole proprietorship. Still covered all issues and is updated to late 2007. This is important because the tax-code changes frequently (last major update was in 2003), and small changes to corporate structure and court pratices happen every year. Better than "Structuring Venture Capital, Private Equity, and Entrepreneurial Transactions." Better than "Starting Your Own Business" by Stephen C. Harper. Better than searching for piecemeal information on websites like news.YCombinator.
   
   Other important areas covered are Contracts & Lease, Operational Liability, and Intellectual Property. I will be using this book heavily for those areas as well.



5. Whether your are an entrepreneur, VC or lawyer, THIS is the book that you must read. It's really everything that you need to navigate the entire startup ecosystem. I've been in the industry for over a decade and I still use it as a reference and encourage both entrepreneurs and lawyers to read alike. I also think it's a great resource for VCs sitting on boards to make sure they are complying with all the latest and greatest regulations.

5 comments about The Complete Guide to Google Advertising: Including Tips, Tricks, & Strategies to Create a Winning Advertising Plan.

1. This in-depth look at the whole Google scheme of advertising solely on the web was probably one of the easiest to understand and easier to apply books I've read on the subject - and there are tons out there.
   
   Written both to explain how Google works and how to use its systems to your advantage, I felt I could definitely put into action the tips Brown gives to improve my business' visibility on the popular search engines like Google. Despite my familiarity with Google's AdWords and AdSense, the author still introduced better ways to apply these products to enhance my business' bottom line. I would definitely recommend this book as a great primer to advertising with Google.



2. I have a burgeoning pet toy company and website, so I was eager to find the best way for me to ensure my website and my company is easily found by people doing web searches.
   Reading a bit of the history of web advertising was very interesting to me, how it has evolved and continues to evolve is very useful to understand how it works.
   
   This book really helped me understand exactly what effort was required on my part to make sure that I was able to achieve the results I wanted. It not only helped me figure out the kind of marketing plan I needed, but also helped me simplify it so that I didn't let the planning side of the marketing overwhelm me.
   Additionally, the book covered a lot of useful tips for the actual content we could add to our website. Things like a "privacy policy" or "about us" can be useful to helping us keep customers!
   
   So many words are thrown at us on the internet when it comes to looking for information about advertising your website, this book truly helped me understand what things like "PPC" "Keywords" "Adwords" or "SEO" are!
   Thoroughly understanding how a PPC account really works is very useful to someone who would want to set up their own account.
   
   This book really has so much valuable information, it can be a lot of almost overwhelming information for a small non-computer savvy small business owner, but I really think that its an invaluable tool for business owners of all levels.



3. Are you looking to expand your business opportunities via Internet sales? Or, alternatively, are you interesting in marketing a particular product or service through search engines? If you answered yes to either of these questions, then Bruce Brown's latest book, The Complete Guide To Google Advertising Including Tips, Tricks, & Strategies to Create a Winning Advertising Plan, is a must-have for your reference library.
   
   Brown's book is extremely informative, logically devised, and most important, easily understood. It is very "user-friendly" and anyone, from novice to marketing expert, will find a myriad of new marketing ideas easily adapted for a particular product or service. Another bonus for both business owners and consumers is the list of Search Engines and Web Directories listed on pages 277, 278, & 279. This section provides the name of multiple search engines used when searching for information, goods, and services.
   
   The Complete Guide To Google Advertising Including Tips, Tricks, & Strategies to Create a Winning Advertising Plan takes readers through a logical thought process that describes the who, what, when, where, and why of Internet advertising. In addition to text definitions and easily understood concepts, it also utilizes copies of screen shots to help readers grasp a particular idea or principle under discussion. Brown does a great job of taking Internet terminology and explaining it in language anyone can understand, and provides links to additional web sites for associated references.
   
   Even if you are a consumer looking for a particular product or service on the Internet, this book is a must-read. It gives consumers and business owners alike a better understanding of how Internet marketing works, and the glossary at the end provides easily understood definitions of Internet terminology users frequently encounter but do not often understand.
   
   If you surf the Internet, you need to buy this book!



4. Google is much more than another search engine - it's created numerous marketing tools for business, from AdSense and AdWords to the Google APIs, and this handbook to all these tools gives small business owners the power and technique for fine-tuning Google for profitable results. From advertising to marketing, all the basics are here.
   
   Diane C. Donovan
   California Bookwatch



5. This publication unravels the workings of the most popular search engine on the internet, Google. Through creativity, organization and strategically placed keywords, Google will place the website for your business in the top search results and you will have more visits to your site. It only makes sense that more visits, or hits, the more sales you will make.
   
   
   
   In The Complete Guide to Google Advertising, Bruce C. Brown explains how to utilize the various marketing methods Google offers. The techniques explained include Pay-Per-Click advertising, AdWords and Adsense. He also provides a history of Google and online marketing that is extremely informative. Various case studies are cited to provide back-up proof that these techniques work.
   
   The section that I found the most interesting was about developing a marketing plan. Mr. Brown not only identified the steps to achieve that, but he also explained each one in detail. Beginning with a market analysis and moving on through establishing a business objective until you finally end up with a marketing strategy. Through this it is much easier to decide which aspect of Google's marketing choices will fit your business the best.
   
   This is a book that can be referred back to repeatedly as the focus of your business changes and markets fluctuate. This book is a great resource for Internet marketing.

5 comments about How to Prosper During the Coming Bad Years in the 21st Century.

1. either you get it or you don't. this book was first published in 1979. therefore, it is way ahead of any other financial book that was written during this same time period. the title would sound a little frisky, if it were written just today. however, it wasn't. there are many things that he talks about that people are only now starting to realize and discuss. things like gold, silver and food for survival. he talks about the impending banking crisis that would be about to unfold. these are all things that are coming into fruition now, and yet people still do not get it. the premanatory nature of this book shows just how brainwashed we still are with gas about to hit five and gold set to hit $1000 one more time and beyond. if people do not get it now. they will after this christmas. it will be one of the worst christmases ever.



2. Excellent read, Mr Ruff, makes his case here compelling letting us know of the urgency of our situation in this country, but he also gives solid solutions in how to overcome them I give this book 4 stars for strong clear, readable content and excellent problem solving ideas.



3. Howard Ruff originally published this book in 1979. Anyone who followed his advice lost money for years and years. Sort of reminds me of Ravi Batra and his 1987 best-seller, "The Great Depression of 1990." What Great Depression of 1990, you ask? My point, precisely. Now that things are looking badly economically, Ruff can call himself a prophet, and republish his book with "21st century updates" responding to the credit crisis. Yeah, okay Howard.



4. If I had spent three minutes doing a little R and D I would have never bought this book but I was lazy and I got what I deserved.
   
   If you want a book with a lot of right wing Republican drivel and Mormon survival philosophy pushed at you and exposure to an author who spends most of the book's time letting you know how prescient he is then go ahead and buy it. But if you are serious about getting personal financial information then look further and pass on this one.
   
   I agree he might need the six months of food supply hidden away as if everyone populates the earth with scores of kids and grandkids as he has then the food supply will surely become strained.



5. You know I can see from the existing reviews there are a lot of differences about thought on this book. I understand everybody's point of view. I am going to comment on what I thought was THE most interesting part of the book which is not about anything to do with the title per se. Howard Ruff has a chapter called SIN TAX and he summarizes the founding of the country back to John Adams and the use of the laws and the Constitution and what America really stood for 200+ years ago and why the Constitution was written as it was. Then he talks about the fabric of today's society literally falling apart. I happen to agree with his assessment - that crime is rampant (and getting worse) the schools are babysitting factories (no time to really teach in classrooms with 35-40 or more kids in them) not to mention the fear factor of the kids going to school these days, and the younger the kids, the more babies they like to have. There is no shame anymore in being a 15 yr old parent and I believe this is a terrible social cost to our country. The social underpinnings of our society (and other countries too around the world) are costing us TRILLIONS AND TRILLIONS OF DOLLARS. Welfare costs, medical costs for all these out of wedlock babies, food costs to avert starvation but most of all, the damage that passes down from generation to generation in these one-parent (for the most part) families who for the most part never will recover from the lower and then-lower-still decline in any decent standard of living.
   
   Eventually, the author asserts, this will sink the United States of America both morally and financially.
   
   I think he has a point. I just look around the country in my travels and where I live (a 'nice' area) and I see it with my own eyes. Plus I am also an older parent who wrings my hands over all of this. It sure ain't what it was like when I was growing up.
   
   Funny chapter in a book on 'How to Prosper During the Coming Bad Years in the 21st Century'? Perhaps.
   
   But deadly right on, so to speak.
   
   I would like to see this chapter published in major American newspapers as a guest editorial. This really did hit right on the nose.
   
   That is what I liked the best about the book. I love to read books that are fascinating in whatever it is they are talking about. I certainly wasn't expecting this chapter in a book of this title. But I sure am glad he did include it.
   
   Now I know Howard Ruff is of Mormon descent and therefore a believer in large families and at his website there is a picture of him with his wife, all the kids and the gaggle of grandkids. And it shocked me like it has shocked a few of you too. But then I took out a trial subscription to his Ruff Times and I read about the intact nuclear families of each of his children. And while I am no proponent of large families especially in today's economically challenging times, at least I can propose that a financially stable intact family with both a mother and father even though with more kids than I would like to see, as versus a single parent teenager with a few kids - well who do the odds favor in terms of having a successful life? At least this author lives as he says he lives and I have to respect him for that. And I think he has financially set his family on a path where they will never be burdens on society. In fact I'm sure from all I've read by him that he did the greatest favor of all and taught his children fiscal responsibility along with family morals & values (which I sure hope they practice).
   
   Lastly, Howard Ruff does talk about gold and silver and how you need to be on the G & S train while it is still in the early parts of its voyage and I, who reads everything, totally agrees on that. His chapters on silver being a far more profitable opportunity than gold probably are very correct.

5 comments about Buy Gold Now: How a Real Estate Bust, our Bulging National Debt, and the Languishing Dollar Will Push Gold to Record Highs.

1. Bought this book because of all-5-star reviews. It turns out this book is not worth the money.
   
   The book is VERY dangerous, because it reaches right conclusion (buy gold) for all the wrong reasoning. Author either has no clear understanding of the processes that are going on around money, credit and debt, or believe what he's read in multiple economics schoolbooks on subject. He bases his analysis on Government-supplied economic numbers and NEVER QUESTIONS THEM (we all know there's lies, damn lies and Government statistics, especially since 1980th). He doesn't understand that the Federal Reserve is a privately owned enterprise, and that The Federal Reserve and Government together are responsible for inflation and other economic turmoil United States has found herself today.
   
   If you want to stay in the bubble media, economists and politicians have created for you, this is "your" book - lots of graphs and statistics based on false or fake economics. Ironically, author still reaches right conclusion - BUY GOLD. For the rest of us who want to REALLY UNDERSTAND what is going on behind the scenes - don't buy it, there are much better books out there.
   
   I would recommend starting with "The Revolution Manufesto" by Ron Paul and many other Gold books, for example "The Collapse of the Dollar and How to Profif from It"



2. I liked this book. The author is not too opinionated and not dogmatic. He acknowledges that historically gold has NOT been a good investment over the long run, but makes a compelling case why he thinks it is a good investment now. He is also not emotionally attached to gold, and in fact hopes to sell it someday; he proffers that it could peak at ten thousand an ounce, which would be ten times its current price or about a 90 percent devaluation of the dollar. I think he offers a balanced analysis from a backround as a professional money manager. There are a number of books like this currently for sale, however I think this one is particularly thoughtful and worth reading, even though I have read several others on the subject. However, one complaint I do have is that book would have been much better if it had been published 2 to 5 years ago. At this point, gold is already up to four fold in that period of time. Several of the other books on this subject were more prescient and timely in their release. If one already has had gold investments, this books reinforces your strategy, however recommending investing in sectors that have already risen substantially lends less credibility and profit not to mention risk. Had he written the book when gold was $300, that would be a 33 fold profit if it goes to ten thousand. Gold at $1,000 is a ten fold profit, considerably less.



3. I'm a mainstream investor who has a solid diversification of investments, including a little gold purchased in 2006. However, my understanding of economics and the global economy is sketchy and never quite fit together in my mind. At a minimum, this book will create an outstanding base of knowledge in this arena in an easy-to-read format, and give solid guidance towards investing in gold. I appreciate his balanced approach to the possible economic outcomes ahead, presented as possibilities for the reader to weigh and make a judgement on. This isn't "the world is falling", but you will take serious stock of the current trends in our economy as it fits into the global picture. Highly recommended for anyone wanting to see these aspects and grasp the value of gold investments in your portfolio.



4. It was a good, balanced book. Most of what I have read on gold is generally over-the-top doomsday type....more about dire predictions then about actual facts. This one was a refreshing change.
   
   The only slight negative about the book was the author's writing style...which was a little bit of drag at times. Long sentences, with more than one point stressed in them.
   
   But overall, I would recommend this book to everyone. Pls insure your future against the excesses of US paper currency. The situation is far worse than what we think it is, not only for US citizens, but for the entire world. This book will help you plan for your and your family's safety in such extreme times.



5. Whether you are interested in buying gold or not, this book is of value for its general explanation of the world economy. If you are interested in such things as the housing market crash, dollar devaluation, trade deficits and the role of the American consumer in the world economy, you will enjoy this book. It explains and ties all these things together in clear and easy to understand reading.

5 comments about On Competition, Updated and Expanded Edition.

1. 'Porter On Competition' is 'lighter' to read than his 'Trilogy', but it nicely consists the core ideas of his work & how it evolved during the past decades. It provides reader a nice overview about how competitive strategy & competitive advantage are applicable to a wide range of areas: from corporation, industry & nation, to social issues such as health care & environment.



2. This book is a collection of essays and articles by Michael Porter alone or with others. Most of them are collected from his writings in the Harvard Business Review although two are new to this book. Think of this as a "Porter's Greatest Hits" kind of thing. That is a bit misleading because his HBR articles are not exactly the same thing as his Competitive Advantage books although the topics are definitely related.

   The essays are grouped into three broad sections: 1) Competition and Strategy: Core Concepts, 2) The Competitiveness of Locations, and 3) Competitive Solutions to Societal Problems. Will you find each article of the same high quality? Probably not (again, like a greatest hits collection), but you will find them informative and thought provoking. It is impossible to study for an MBA nowadays without invoking "Porter's Five Forces" in your discussions of competitive and marketing strategy.

   This book can help add to your thinking and understanding of how every aspect of our life is in some way part of a competitive context and the ways it improves our standard of living. It will also help you improve your thinking in how to best strategize for and participate in competitive situations.

   It would be a mistake to think that Porter advocates for a Hobbesian nightmare of life being nasty, brutish and short. Rather, he is more or less helping us think through the nature of the way competition arises and how to best think about its sources and how to manage it and the traps to avoid.

   While Porter's model is used by some as a hammer that sees everything as a nail, it really needn't be used that way and, in its proper context, is very helpful.




3. Remember when you were a youthful entrepreneur operating a neighborhood lemonade stand? If author Michael E. Porter had walked up to buy a cup of punch from you, he probably would have asked about your business strategy. While you poured, he would have questioned what made your lemonade different from anyone else's. If he liked your lemonade, he'd no doubt give you suggestions on how to earn millions competing in the global marketplace. Ah, if only you had listened... The author, America's dean of competition, has spent two decades asking seminal questions such as, "What is competition? What are its effects? How can society benefit?" The Harvard Business Review previously published 11 of the 13 articles collected in this book. In the two new essays, Porter serves up invaluable concepts. His take on the growing importance of location, despite rising globalization, is a tour de force. Oddly, Porter sees no inconsistency in encouraging "productive competition" in the health care industry while advocating universal health care. For Porter, competition is the ingredient that turns lemons into lemonade. We recommend his latest book to any corporate strategist who seeks ideas on becoming more competitive, starting in your own neighborhood.



4. 
   I read this book when it was first published (in 1979) and recently re-read it prior to reading his most recent work, Redefining Health Care which I will also review in the near future. In the Introduction (which then became the first chapter of Competitive Strategy, published in 1980), Porter observes that competition "has intensified over the last decades, in virtually all parts of the world." That is even more true of competition - especially global competition -- during the 27 years since Porter shared that observation. Nonetheless, the core concepts which he and his collaborators rigorously examine remain relevant...indeed, in my opinion, have become even more relevant. Consider these assertions:
   
   1. Competition shapes strategy
   
   2. Successful strategy creates a "fit" among all organizational activities
   
   3. Information can provide a decisive competitive advantage
   
   4. Declining industries require an "end-game" strategy
   
   5. Successful corporate strategy "builds" on three premises: Competition occurs at the business unit level, diversification inevitably adds costs and constraints to business units, and, shareholders can readily diversify themselves.
   
   6. "Moving from competitive strategy to corporate strategy is the business equivalent of passing through the Bermuda Triangle."
   
   Porter carefully organizes the material within three Parts: First, he focuses on competition and strategy for companies at both the level of a single industry and then for multinational or diversified companies; next, he addresses the role of location in competition; and then he Part III, he addresses some important societal issues (e.g. environment, urban poverty, health care, and income inequality), each of which he asserts - and I wholly agree - is "inextricably bound up with economics and, more specifically, with competition."
   
   All but two of the articles originally appeared in Harvard Business Review, the exceptions being "Clusters and Competition: New Agendas for Companies, Governments, and Institutions" and "Competing Across Locations: Enhancing Competitive Advantage through a Global Strategy." In the former, Porter explains his concept of clusters, clusters which are geographic concentrations of firms, suppliers, related industries, and specialized institutions that occur in a particular field in a nation, state, or city. In the latter, Porter brings together the two dimensions of international strategy - location and global networks. As he observes, "The concept of activities, so important to understanding competitive advantage in general terms, provides the basic framework for international strategy as well."
   
   This is by no means an "easy read" but it will generously reward those who read it with appropriate care. By all accounts, Michael Porter is among the most influential and productive knowledge leaders, justly renowned for his cutting-edge thinking on the subject of strategy formulation and implementation but in this volume and in countless others, he also has much of great value to say about competitive and corporate strategy insofar as their global impact is concerned. That said, many of his greatest concerns are those specifically related to the U.S. economy. Hence the importance to me of what he and his collaborators (Claas van der Linde, Elizabeth Olmsted Teisberg, and Gregory B. Brown) have to say in Part III: "Competitive Solutions to Societal Problems."
   
   Those who share my high regard for this volume are urged to check out Porter's other works as well as two recently published books: Kenichi Ohmae's The Next Global Stage and C.K. Prahalad's The Fortune at the Bottom of the Pyramid.



5. I am new to buying used copies through Amazon, so I orignally had some doubts. However, the experience I had with this purchase suprised me in that it was delivered a lot quicker than I expected it, and the book was in great condition. I thank the distributer for displaying such great service and will look foward to making any purchases in the future.