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INVESTING BOOKS
Posted in Investing (Tuesday, October 7, 2008)
Written by John C. Maxwell. By Thomas Nelson.
The regular list price is $17.99.
Sells new for $2.90.
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1 comments about Talent is Never Enough Workbook.
- PTSD: Pathways Through the Secret Door
In John C. Maxwells book he gives very specific outlines and tools to maximize your talent. The stories and lessons learned here have assisted me greatly with breaking down barriers that have kept me from reaching my fullest potential
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Posted in Investing (Tuesday, October 7, 2008)
Written by Barry Nalebuff; Ian Ayres. By Harvard Business School Press.
The regular list price is $14.95.
Sells new for $5.98.
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5 comments about Why Not?: How to Use Everyday Ingenuity to Problems Big And Small.
- I love this book - lots of good ideas on how to be creative. Very fun and inspiring!
More at: Notes on the book "Why Not?" (How to Use Everyday Ingenuity to Solve Problems Big and Small)
http://ideamatt.blogspot.com/2005/05/notes-on-book-why-not-how-to-use.html
- A couple of ingenious and creative Yale professors started ideating in good humor and out came this hidden gem. Everyday situations that might frustrate most people are actually opportunities for discovering new ideas - if only one can condition the mind to respond to situations in a restorative fashion. If you simply take away this one concept from this book, life will become way more rewarding all of a sudden.
Besides making that one powerful switch in the brain, this book has helped me in a few other ways from time to time. It provided a stimulant to the brain to find new business ideas and fired up my neurons to find investment opportunities out of everyday situations. It provided contrarian tips and techniques for first-principles based problem solving.
I especially love this book for supplying a bag of interview questions that helped me get into the head of my interviewees. They are simple enough to solve within minutes and have enough tracks to the right answer that you can understand how they go about solving them. This book has helped me make hiring decisions!
- A recommended read for those who need structure in conjuring up the creative forces of their intellect. The book is punctuated with tons of relevant examples to illustrate each method. A great resource for existing and would be entrepreneurs.
- Interesting book. It makes me wish I had grown up to be an economist.
- Why Not? called out to me from the bookshelf. This was odd because I'd not enjoyed reading in years. In the end I picked it up. This was three years ago. Why Not? ignited a passion that still fuels my love for books. Right now I am reading Super Crunchers by Ian Ayers.
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Posted in Investing (Tuesday, October 7, 2008)
Written by Loral Langemeier. By McGraw-Hill.
The regular list price is $24.95.
Sells new for $2.14.
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5 comments about The Millionaire Maker's Guide to Wealth Cycle Investing.
- Ultimately with all self help,
unless you are a leader and self directed, you will be on the endless
guru quest to have someone else take the responsibility to solve your problems for you. While they happily drain you of all your cash, she is one such guru.
- The book is easy reading and thats about it. It gives you some examples how a few people invested but nothing in depth. It's more of a teaser to go to there website and pay for additional services. frankly, I would just read there website(s) and you will get just as much information as the book gave.
- It was very exiting to read alle the storyies about ordinary people changing their wildest dreams into reality, and a bit of an eyeopener to read how the wealthy do. I am very pleased, hat I bought her second book too, "Wealth Cycle Investement...".
- The main message Loral's gets across with this book is that you can't become a Millionaire on your own. She stresses the fact you have to build a team around you of people with different areas of expertise.
I highly recommend this bookand Loral's work and she shows you the nitty gritty of what you need to do to become wealthy.
- While this book covers some of the basics, it is far too general to be of much use. You can do better elsewhere. Think of it as an infomercial that funnels people into their other programs and personalized coaching where they can really get into your wallet.
I think the success of Loral's program is really focused on enriching well, Loral of course.
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Posted in Investing (Tuesday, October 7, 2008)
Written by John Burr Williams. By Fraser Publishing Co..
The regular list price is $30.95.
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5 comments about The Theory of Investment Value (Fraser Publishing Library) (Contrary Opinion Library).
- Helpful book for a Fundamental Value Investor since it layed the groundwork on DCF methodology (1934). Helped me to understand how the DCF or Dividend Discount Model was derived but a good undderstanding of economics is required to follow the author's concept. The two case studies are a bit dry but very interesting both from a historic and Value Investing perspective.
- The Theory of Investment Value is clearly an important work, as reflected in Benjamin Graham's citations to it and the prevalence of the dividend discount model in valuing stocks. The theories expounded in this book are of particular import to those to seek to by stock at a value less than the intrinsic value of a company as they determine it to be.
The book itself initially appears intimidating, as there are a lot of mathematical equations, but in reality, the math is nothing more than simple algebra, mostly different models related to computing dividend values going forward.
I found the book to be an interesting read, but it is highly theoretical in nature. The central theme of the book is that stocks are worth the present value of their dividends, paid in perpetuity. It does not discuss earnings manipulation, effect of dilution, securities with superior or inferior claim to payment, etc. Moreover, as Graham points out in Security Analysis, companies that have a high return on invested capital would be well advised to reinvest their profits, while less successful companies would be better off paying higher dividends (relative to book value). This would, of course, tend to make the practical application Williams' theory somewhat complicated, insofar as it makes computing future dividends more difficult.
Readers looking for a more practical guide to valuing stocks might be better served reading Securities Analysis by Benjamin Graham, or any number of more "practical" books related to stock market analysis, particularly as those analyzing financial statements to determine the intrinsic value of a company. Some readers might also find "The Aggressive Conservative Investor" by Marty Whitman and Martin Shubik to be a good read for a competing view, since the authors of that book take the position that, with respect to non-controlling shareholders, a company's stock is worth the net after-tax cash that they expect to realize in the future, whether from dividends, liquidating events, etc. However, if a reader is truly interested in obtaining an understand of how dividends affect stock prices, the book is a worthy read.
- This is probably one of the oldest, if not the first, serious academic works on valuation. The coverage is highly theoretical compared to the more practical valuation books of today (dividends are used instead of free cash flow, continuous time is used instead of discrete time, and "cookie cutter" product cycle scenarios are presented instead of more complex business forecasting).
The real value of this dissertation-turned-book though is its general insights. Although Warren Buffett doesn't tout this book as often as Graham's "Intelligent Investor", you will find that he utilizes the insights from this book almost as frequently.
Robert Stephenson-Padron
MSc student (economics & finance)
University of Navarra, Spain
- This is an excellent copy of an investment classic. VERY happy with the seller, the shipping and packaging were superb. Thanks again!
- A fantastic accomplishment. All investors should study this book to learn the real value of a stock.
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Posted in Investing (Tuesday, October 7, 2008)
Written by Dennis Snow. By DC Press.
The regular list price is $19.95.
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1 comments about Lessons from the Mouse: A Guide for Applying Disney World's Secrets of Success to Your Organization, Your Career, and Life.
- When families visit Disney World, their attention is focused on the majesty of Cinderella's castle, the cultural experiences available at EPCOT Center, and the kids' eager dash to hug Mickey Mouse as he walks down the Magic Kingdom's Main Street, USA. Guests can forget that Disney World is an intricate corporation employing thousands of people who must pay attention to every detail of the park's operation. Without fanatical focus on customer satisfaction and an organized business model, Disney World could not be the fantasy destination for millions of tourists every year. In his new book, Lessons from the Mouse, Dennis Snow shares his experiences as a former Disney cast member, trainer, and manager. Along the way, he provides readers with wonderful advice that can be applied to any business or organization.
Snow develops each chapter of his book to serve perfectly as a step-by-step guide to improving customer service. Each lesson presented by the author begins with a memorable heading, my favorite being Lesson #3 "What Time is the Three O'Clock Parade? is Not a Stupid Question." (Read the lesson and you will learn that the questioner really wants to know when a parade will reach his particular vantage point.) Snow then dives right into specific examples from personal employment experiences at Disney World. In one chapter, the introductory story may be the way in which Snow delicately shared the bad news that Space Mountain was closed for repairs while another lesson may begin with the reminder he received from a guest to smile when doing his job. Snow also makes a point to take the lesson of each chapter and extend it beyond its Walt Disney World roots. Through the clear layout of bulleted points, Snow shares how his lessons can be applied to airlines, hospitals, sandwich shops and collection agencies. Finally, Snow ends each lesson with a distinct set of questions which members of any organization can discuss in order to apply the key points of the chapter to their specific needs.
Snow has an engaging and conversational tone to his writing. I easily can picture him leading a discussion in an auditorium filled with professionals. Therefore, I was not surprised to learn that Snow maintains a schedule of over one hundred speaking engagements every year. Readers will quickly sense the passion that Snow has for superior customer service and the effect that it can have on the success for any organization. As someone who often laments the lack of common courtesy amongst one another in public settings and the seemingly increasing absence of work ethic in our service industry, I found myself nodding in agreement with each piece of advice made in this book. The lessons should be common-sense essentials for a successful business but, as the author indicates through his examples, a basic discussion of these customer service details is long overdue in both boardrooms and break rooms.
Prospective readers should not be turned off by an assumption that Lessons from the Mouse is simply yet another self-help training manual for those in the business world. While the lessons are undoubtedly important to prospective corporate leaders, Snow's approachable style keeps the context engaging and relevant for any reader. I found myself relating to many scenarios described, if only from the perspective of a customer. Haven't we all gotten frustrated when a cashier cannot be bothered to stop her personal conversation while ringing up your groceries or when we cannot place our trash in a fast food restaurant's bins because they are already overflowing? If you have left the house and interacted with a fellow human who is somehow employed in a service capacity, you will be able to relate to this book. And, perhaps you will be challenged to think about how your own attitude may be affecting the quality of your outcomes.
What can you learn from a mouse? When that mouse has been delighting and entertaining hundreds of millions of people for decades, it turns out there is plenty to learn. Readers of any professional background will appreciate and enjoy the advice dispensed by Dennis Snow in Lessons from the Mouse. As a consumer, after reading this book I immediately took notice of the level of customer service I received from local businesses and recognized its impact on my overall satisfaction. Concerning my own work, I am now consciously striving to apply every lesson to my communication with clients. I am confident that each reader will find unique ways to use Lessons from a Mouse in their own lives. Whether you are a physician or a mechanic or a cotton candy vendor at Disney World, Mr. Snow's book is filled with relevant material and should be a must-read for employees and leaders in any field.
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Posted in Investing (Tuesday, October 7, 2008)
Written by Harry Domash. By FT Press.
The regular list price is $17.99.
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5 comments about Fire Your Stock Analyst: Analyzing Stocks On Your Own (Definitive Guides (Financial Times/Prentice Hall)).
- I would not consider this book as a master piece but a good addition to your library.
Chapters dealing with accounting are excellant.
Check out my listmania lists on good investment books,which takes precedance over this one.
- This book will help you to evaluate and decode the stock information available on free financial websites likeYahoo! Finance and MSN Money. This is a thick book, very detailed and in-depth, with tons of useful information to help you can find the stocks that will generate solid returns. For example, Domash explains the difference between Return on Equity (ROE), Return on Assets (ROA), and Return on Capital (ROC). The author is obviously a very experienced stock analyst with a wealth of practical techniques for readers to use.
The main weakness is that Domash never really gives the reader a practical strategy for choosing stocks. He does give a generic "value" and "growth" approach, but never says which approach he uses or why. Also, there are many different kinds of value and growth investing; the strategies he lays out are so generic that they are of quite limited usefulness. Hardly anyone uses a "pure" value or growth approach.
Overall, this is one of the best books available on fundamental analysis, along with Pat Dorsey's FIVE RULES FOR SUCCESSFUL STOCK INVESTING.
- Harry Domash, entrepreneurial investor, has laid out methodologies for analyzing stocks that any investor can follow. I would recommend his book to anyone who manages his or her own investments. Everything of importance for stock analysis seems to be covered with descriptions of where to find data and how to manipulate it. Of special interest to myself were his sections on estimating stock values and on determining a business' financial fitness and profitability.
In his section on stock valuation he expresses disdain for conventional intrinsic value methods based on discounted earnings flow, claiming that stocks have no intrinsic value other than what someone will pay for them. In their place he offers two alternative methods: (1) implied earnings growth and (2) growth at a reasonable price, (GARP.) In both methods earnings growth is key. For (1) he obtains implied earnings growth from Benjamin Graham's intrinsic value formula by equating that value to current market price and solving for the (implied) growth rate. A reasonable approach but any such valuation formula could be used, including one of the maligned discounted earnings flow formulae. Domash gives no reason for his choice, but Graham's formula is simpler - a questionable criteria in the age of the computer. For (2) earnings growth is obtained from analyst's forecasts. The use of this alternative to his implied earnings growth is unexplained.
In his sections on financial fitness and profitability he compiles a collection of recipes for determining both. His `cookbook' approach seems to be the industry practice. (see B. Graham & C. McGolrick, "The Interpretation of Financial Statements") I had hoped for a more logical flow to the process, but since there may not be one Domash can't be faulted for lacking it. Maybe he could develop such a flow for his next edition.
In sum, Domash's book left me a bit perplexed, but what I found was comprehensive, informative, useful, interesting, and well worth the price.
- This book is well written, simple and easy steps to analyze any stock traded. It is written in easy language and very simple steps. I use it in my investments class with my college students and I have had great feedback from my students. So much so that many of my students have moved on to banking jobs and they carry this book to their trading desks with them.
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I liked this book very much. But I did not love it. Hence, the 4 star rating. To me the book sounded like a crash course in what is involved in doing due diligence during a merger and acquisition project. People who are interested in learning a lot of what must be done during due diligence will greatly appreciate this book. And I suspect any wanta-be entrepreneur will get a lot out of this book, too.
The book is overflowing with content. And I thought it was very logical and pretty straightforward. However, if I really want to get the full benefit this book has to offer me, then I will have to go back and outline each of the chapters. There are just too many asides thrown in during the writing that I feel as though another drafting or two of the book would make a world of difference in how easily it can be read and digested on a first read.
Arguably there were too many examples of real companies because they tend to date the book. And the title was off a little for me since all the subscriptions necessary to do what the author suggests can cost a bit. Probably my favorite aspect of the book was all the online resources that were cited and explained to be used as tools when researching and analyzing companies from a value (undervalue) or growth persepective.
Certainly this book provides one way (and a good one at that) to look at stock analysis. But there are other takes on this same subject. I recommend someone interested in the subject matter definitely read this one, but also seek out some other tomes, too. 4 stars!
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Posted in Investing (Tuesday, October 7, 2008)
Written by Richard W. Asplund. By Wiley.
The regular list price is $60.00.
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1 comments about Profiting from Clean Energy: A Complete Guide to Trading Green in Solar, Wind, Ethanol, Fuel Cell, Carbon Credit Industries, and More (Wiley Trading).
- Useful introductory overview ... a place to start. Good Price/Value ... I got out of it what I expected. No surprises ... both a bit ahead of the market and conversely, overly analytical. Will be keeping it as a reference ... although much of it is based on extrapolation and informed "guesstimate". Worthwhile ... but, just another tool.
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Posted in Investing (Tuesday, October 7, 2008)
Written by John Bogle. By Dell.
The regular list price is $19.00.
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5 comments about Bogle on Mutual Funds: New Perspectives for the Intelligent Investor.
- I thought that this was a very thorough book on mutual funds. Bogle brings to light many things that I wouldn't have known. The only problem is it requires good concentration to get through parts of this book as it can be a bit dry at times. Very good source of information overall. I would recommend it for someone to have as a reference.
- One of the best books about mutual funds in the market even though it is over a decade old.
- If you're going to read one book on investing and one book only, this is the one! Really, you won't need any other - it's that complete and that good. Not everybody can invest in index funds, but you can and you very probably won't get a better result any other way.
- "There are intelligent ways to go about investing and less intelligent ways." So says John Bogle, one of the most influential money managers of the last 50 years.
Bogle was one of the leaders in making index mutual funds available to ordinary investors. Bogle's index funds, and others that followed his example, helped turn very, very ordinary investors into very, very rich investors. This book essentially explains why Bogle's investment philosophy succeeds so well.
The book concentrates on the three basic types of mutual funds: stock, bond, and money market funds; describes the three important characteristics that all investments have: risk, return, and cost; explains why different categories of assets -- stocks versus bonds, for example -- have different risk and return characteristics; and shows how to construct an intelligent, balanced portfolio that will help you meet your investment goals.
One of the keys to Bogle's strategy is the idea that, while investors don't have direct control over risk or return, they do have direct control over cost; and by choosing low-cost funds (index funds are very low cost!), investors can dramatically improve their results. One of the other keys to Bogle's strategy is the efficient market theory, which, among other things, supplies an important part of the theoretical justification for relying on passively managed index funds. Those aren't fun, sexy concepts, and Bogle's methodical discussions don't do much to make them more entertaining. On the other hand, they will help you make money if you understand and apply them, and making money through investing is both fun and sexy!
This book is over ten years old now, so it doesn't have much to say about exchange-traded funds, sector funds, or some other, recent developments in financial management, but the basic principles it describes can easily be applied to those new-fangled inventions too.
This is one of the best books I've ever read about investing.
- Great price $01. plus shipping! This is a timeless classic for all mutual fund investors.
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Posted in Investing (Tuesday, October 7, 2008)
Written by Michael Duane Archer. By Wiley.
The regular list price is $19.95.
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5 comments about Getting Started in Currency Trading: Winning in Today's Hottest Marketplace (Getting Started In.....).
- After reading a ton of books, finally one that is really helpful in making a good foundation for you trading habits.
This book gives a lot of basic information about Forex (useful to those like me who wants to know everything about), good hints about risk and money management.
But if you want to study seriously, a must is the second title of the author Getting Started in Forex Trading Strategies (Getting Started In.....)
- This book is very true to its name, definitely for those of us who aren't experts at trading yet. The book is filled with a general overview of the forex world and I would say that this book should be the first one any novice picks up (even before babypips).
- I have been trading currencies for about a year and a half now, and this was a great start to get a broad picture of the FX market.
This isn't a "dummies" step by step but it is a clear overview of trading in the currency market.
It could be written with a little more... excitement or novelty. It is a fairly clinical read. It isn't a good comparison but triple w dot babypips dot com is a fun version of the material in this book. They are not associated but the web site is a good primer for this read (or vise versa).
The basics are all covered and that makes it worth the price.
- I originally bought this book in February 2007 after watching an infomercial on currency trading. This book is good for anybody who wants to start currency trading but dont know where to begin. After reading it, I was hooked.Now one year leter I am trading the currency market and now I am successful at it.
This book will give you the basic knowledge and foundation of the currency market.If you are someone who is already trading and have experience then this book is not for you.
Also once you read this book read it at least two more times.
- I found many errors in this book, especially in chapter 8, "The Calculating Trader", as well as some in other chapters. Unfortunately, if you don't catch these errors, this book will only confuse you more. If you do catch them, it will just annoy you. Granted, I have the first edition of this book (2005); hopefully these errors have been corrected in the new June 2008 second edition. I gave the book 2 stars because it does have some decent overview information in it.
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Posted in Investing (Tuesday, October 7, 2008)
Written by Bennett A. McDowell. By Wiley.
The regular list price is $70.00.
Sells new for $37.97.
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5 comments about The ART of Trading: Combining the Science of Technical Analysis with the Art of Reality-Based Trading (Wiley Trading).
- I am a beginning trader that likes to move slow, stay in order and keep things simple. If you are like me I recommend reading this book only after you have first read Bennetts other book 'A Traders Money Management System'. I am currently in the research stage of comparing "trading systems" and first wanted to read 'the The ART of Trading' before trying the system demo. I like how Bennett gives an overview of his system and that it is not overly complex or intimidating. After reading both books I can say that I have not been disappointed. The books have given me a sense of order and direction and so far have satisfied my methodical personality. I look forward to re-reading them again and again. Thanks Bennett.
- Bennett consolidates his many years of experience to provide a high-level reference for traders. The book refers to the components of a successful methodology as pieces of a pie. For long-term success as a trader, complete and thorough coverage of all are necessary. The chapter on creating a business plan and identifying your own trading "style" are especially good.
The book and DVD videos cover all aspects of the ART methodology. The use of notes directly on the charts provides clarity that is often not found in other books which have you flipping pages to get back to an illustration.
As a user of the software, I found that the coverage of all trading styles to be very useful. Markets go through various periods and different approaches are needed. Bennett covers the ART techniques for trading bracketed, trending and counter-trending markets, as well as scalping.
This book is a very welcome addition to my library.
- This book was very organized and well written. Although the ART software that is referenced in the book is proprietary, the book has abundant and generally useful information on the business and art of trading. The sections on calculating trade size and setting stops are extremely valuable as well as the information on determining what kind of a trader you are (i.e. position trader, day trader, scalper etc.) along with the types of markets to choose.
I highly recommend this book to anyone who wants to get a fundamental understanding of trading and to establish their trading practice on a firm foundation. The outcome of reading the book, for me, was to undertake an evaluation of the ART software as a TradStation plugin.
Happy Trading!
- It is written in layman words & is a very easy read.
The nice thing is it comes with a 30 free trial to the system, which I am looking forward to.
It explains the ART System clearly & precisely & gives excellent recommendations for implementing the strategies. It gives precise Entry, Exit, Stops & Targets, & explains how these have more meaning in real time not after the fact as most indicators do.
Not only does it explain the System, but gives comprehensive instruction to handle the psychology of the market & ones own personality.
A simple & straight forward approach on how to succeed in the markets long term. Well thought out, with plenty of insight to money management & preparing a trading plan.
A very useful book, giving a complete, reliable & straight forward approach to trading in any time frame or any style.
Thanks Bennett.
- I am a veteran of trading for more than 30+ years. I have never been a passive investor I am hands-on and a former member of the NYSE, ASE, CBOE, PHLX etc.
I have studied this industry through all of my successes and travails, always seeking new insight.
It is my opinion that The Art of Trading affords the readers a new, relevant look into trading that will benefit all. I am not going to say it is the Holy Grail but than again that is pure fancy.
It is attached to a software product that offers a 15 day trial.
JAC
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Talent is Never Enough Workbook
Why Not?: How to Use Everyday Ingenuity to Problems Big And Small
The Millionaire Maker's Guide to Wealth Cycle Investing
The Theory of Investment Value (Fraser Publishing Library) (Contrary Opinion Library)
Lessons from the Mouse: A Guide for Applying Disney World's Secrets of Success to Your Organization, Your Career, and Life
Fire Your Stock Analyst: Analyzing Stocks On Your Own (Definitive Guides (Financial Times/Prentice Hall))
Profiting from Clean Energy: A Complete Guide to Trading Green in Solar, Wind, Ethanol, Fuel Cell, Carbon Credit Industries, and More (Wiley Trading)
Bogle on Mutual Funds: New Perspectives for the Intelligent Investor
Getting Started in Currency Trading: Winning in Today's Hottest Marketplace (Getting Started In.....)
The ART of Trading: Combining the Science of Technical Analysis with the Art of Reality-Based Trading (Wiley Trading)
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