3 comments about Financial Intelligence for IT Professionals: What You Really Need to Know About the Numbers (Financial Intelligence).

1. With all the talk of aligning IT with the business, financial intelligence is probably the most overlooked or avoided part of an IT manager's toolkit. This book is well written and actually fun to read. It should give you an advantage in your career. Buy it now.



2. Financial Intelligence for IT Professionals seeks the elusive sweet spot between being approachable on the one hand and substantive on the other. If you are looking for the bible of corporate finance or an alternative to an MBA, you'll probably be disappointed. If, on the other hand, you or your employees would benefit from a clearly written and well organized introduction into corporate finances, you really can't go wrong. Berman and Knight do an excellent job covering the basics, including income statements, balance sheets, cash flows, ratios, and measures of investment/project performance. The examples provided are simple enough to illustrate the concepts without feeling dumbed down. I was particularly impressed with the clear manner in which the concept of cash flow was presented, as, in my experience, the difference between income and cash is a topic often misunderstood by folks without financial training. In addition to the concepts listed above, the authors make it a point to highlight how financials can be influenced, intentionally or not, by the assumptions and actions of executives and accountants.
   
   Here is where we run into my first (very small) criticism. While I appreciate the discussion of some of the `gray areas' that can be found in accounting and finance, I think the focus on fraudulent behavior is a little out of balance. Certainly there have been several great scandals over the last few years to provide fodder, but in my experience most financial executives make honest judgments to the best of their abilities, usually under tremendous pressure. My second tiny criticism is that the author's suggest a number of times that an IT leader equipped with financial knowledge can more intelligently challenge the assumptions of controllers, CFOs, etc. In my organization, this is encouraged and, frankly, expected of top level managers. In other organizations, however, questioning the CFO might get you a short trip to the unemployment office. Readers will need to use some judgment here...
   
   The book concludes with a brief discussion of the value of employee financial knowledge to the performance of the company. The case is well stated, and the author's passion for the empowering impact of financial intelligence seems genuine. I am fortunate to work for an employee owned company that really emphasizes financial understanding for all employee-owners, but I also know from prior experience that my company is the exception, not the rule.
   
   Bottom Line: This is a book whose impact on your organization will grow with the number of people who read it. So buy a few, and share them with anyone who in interested. That's what I'm going to do.



3. You get what you pay for is a commonly repeated proverb because it is so commonly true. Co-authored by Karen Berman and Joe Knight, "Financial Intelligence for IT Professionals: What You Really Need to Mow About the Numbers" is an informed and informative guide to understanding that Information Technology (IT) requires an infusion of capital to get the best use out of it. With basic information on understanding IT-related statements and balances, estimates and their effects, challenging data, investments, and so much more. Highly recommended reading and a welcome addition to personal, professional, community, and academic library Business reference collections, "Financial Intelligence for IT Professionals" is essential reading for anyone wanting to get the most out of their IT dollar investment.

2 comments about Practical Guide to S Corporations (Fourth Edition) (Practical Guides).

1. Another great product of CCH. This guide is current and update, but allows you to transport this book to meetings or take to your client sites. While not as current as the loose leaf publication, it has the detailed analysis and insights to the current S corporation issues.



2. After conducting an extensive and fruitless search of bookstores in the Washington Metropolitan Area for a good reference book on Subchapter S Corporations, I was fortunate to find exactly what I was looking for on Amazon.com
   The Practical Guide to S Corporations, by Michael Schelsigner has literally saved me over $30,000 in taxes through its invaluable guidance on the intricacies of S Corporations.

5 comments about Monster Stocks: How They Set Up, Run Up, Top and Make You Money.

1. The book's title is misleading to say the least. The book offers little new information than his previous book - How Legendary Traders Made Millions. It just simply repeats the same principle in the chart again and again. Buy stock in the break out, pyramid buy more when stock drops to its support level, usually at 21 or 50 day moving average. Sell when the stock has its finally climax run. It could have been a 5 to 10 pages brochure.
   
   If you really want to find out how a monster stock got setup, started and finished, I strongly recommend you read Brad Koteshwar's book - The Perfect Stock: How a 7000% move was set-up, started and finished in an astonishing 52 weeks.



2. Fire up your charting software. Scan for stocks that have gained greater than 200% in the last 250 trading days (1 year). Review. You have just saved yourself $29.00. There is nothing new in this book. O'neil was quoted so many times I began to think this was written by him. I congratulate anyone who has the moxi and staying power to finish and publish a book. That doesn't mean I have to like the finished product.



3. I had previously purchased his other two books. The first covered the best US traders (this is a very good book) and the second book covered the US equity market and the best US traders through history, this book also was pretty good in terms of detail and explanation. His current book was shallow lacking in detail and appears to have rushed to the publisher. I was throughly disappointed.
   
   I agree with some of the other reviews you would be much better served by purchasing the books on trading written by William O'Neil



4. Boik's term "Monster Stocks" refers to stocks that have at least doubled in price within 18 months. This book describes the practical application of a set of rules for identifying and profiting from such high-growth stocks. These rules involve criteria both for a stock's fundamentals, and subtle details of price and volume action of the stock and of the general market.
   
   What I liked about the book is that it profiles about 30 such stocks as brief case studies, which include the chart basing setups that may have been evident, key points and characteristics of corrections during the stock's growth, and indications that presaged of the end of their run-ups. These are accompanied with annotated charts of relevant market indices and of the stocks profiled. The attendant commentary on these particular growth stocks and the events in the markets allowed me to learn by comparing the rules to how I would have reacted in the same situation. Most of the examples occur during the period 1996 through 2006.
   
   Much of the methodology aligns with and makes mention of the Investor's Business Daily rules as described in their educational material and in Bill O'Neil's books. This book builds on IBD's teachings in that it uses the methods to focus on the special case of stocks that at least double in price including the psychological challenges, buying and pyramiding tactics, and the significance of moving-average support.
   
   Boik describes methods that are relatively simple, but adds that the attention to detail and discipline required is not easy. I know from experience that many of us will find it difficult to make a large commitment to a high-growth stock, at least in its early stages, because the characteristics go against much of the conventional wisdom. Many investors will sell such a stock when it makes violent corrections - only to watch it make new highs soon thereafter. Similarly, it takes great discipline to act on the various warning signs and sell even though the stock is making successive new highs and the fundamentals have never been better. Boik does a reasonable job of explaining the details of what to observe, and rules by which to buy, add more, sell or hold these stocks through such observations. Among other things, the rules limit your risk and provide assurance when holding such stocks during their growth phase.
   
   The book concludes with a Monster Stock finding and handling template, and a summary of the Monster Stock rules.
   
   A criticism that led me to rate this book four stars instead of five was that the writing style tended to be wordy and repetitive, making the book longer than it needed to be. Also, the graphics were sometimes difficult to follow, and required some study before I was able to relate them to the text. I was able to endure this however, and found a lot of valuable content.
   
   I can also recommend the following to those wanting more on growth stock investing:
   
   The Zurich Axioms by Max Gunther ©1985
   
   Reminiscences of a Stock Operator by Edwin Lefevre ©1923
   
   How to Trade in Stocks by Jesse Livermore ©1940
   
   How to Make Money in Stocks by William J. O'Neil ©2002
   
   The Successful Investor by William J. O'Neil ©2004 (*a true gem)
   
   Trader Vic-Methods of a Wall Street Master by Victor Sperandeo ©1991, 1993
   
   The Market Wizard series of three books by Jack D. Schwager



5. John Boik presents a well thought out method for acquiring wealth. The big money he claims is made in finding those few companies who can change the world. If an investor can recognize these monster stocks and manage them correctly, the result will be life changing wealth. Boik gives the reader a history lesson--that all monster stocks display the same characteristics just the names of the companies and their symbols change.

5 comments about Sold!: Direct Marketing for the Real Estate Pro.

1. Lois Gellar's book is an excellent ongoing reference for new and seasoned real estate professionals. Direct mail is only good if people see your mailing and don't immediately chunk it in the trash can, and she shows how to be competitive in the direct mail game. She has even answered questions via email for me and that is a sign of an author that stands behind the rhetoric in their books. I highly recommend this book!
   
   Collier Swecker
   Mega Agent Real Estate Team
   Keller Williams Realty
   [...]



2. This is a very interesting and helpful book. It's easy to read/understand. My main purpose in buying the book was for the information on writing copy. There's a lot of good advice and suggestions on what to incorporate in my marketing efforts. I'm still reading the book and deciding what to try first. And there's more to the book than just hints on making the message/copy stronger.



3. Some great ideas on setting up a farm and marketing to it. Some of the ideas seem to be more geared toward a product. For instance, the one time mailings using a rented list. All in all, a few good ideas with not too much blah blah.



4. This is one of the better books on Direct Marketing written with the Real Estate Agent in mind.
   
   What I reallty liked about it is that, for once, a book for Real Estate Agents where the author offered out of the box ideas adopted from different successful Direct Marketing strategies.
   
   What you will learn from this book is the importance of content, not just sending "New Listing" and "just Sold" postcards. It covers how to come up with the content, who you should send it to, and the importance of closing the sale.
   
   This book might go over people with absolutely no marketing background, and might be a confirmation of what those experienced marketers already know.
   
   I think every one should have this book and read it. If you don't get what is being taught in it, reread it or do some research on the subject you did not understaind.
   
   I blog on similar topics and I was very delighted to see someone out there published a book specific to real estate.



5. If you've never read anything about marketing yourself as a REALTOR or about branding, you might get some useful information from this book. I thought this book was a total waste of my time. "The Millionaire Real Estate Agent" by Gary Keller gives a more comprehensive explanation of lead generation and how it fits in your overall business plan. On top of that, it was written by someone who has actually sold real estate and been successful at it. Also try "The Brand Called You" by Peter Montoya for branding and direct mail advice.

No comments about Tools & Techniques of Investment Planning (Tools & Techniques).

5 comments about Economic Literacy: What Everyone Needs to Know About Money & Markets.

1. I am a techy and joined workforce in 2000. I started sensing the bubble and the bust and was really insecure about what the world and job market would look like once all this is over. Realized I need to learn something about economics which until then I thought was a boring dry bunch of theories of no use.
   
   Well this book changed my life, I joined MBA and got a whole new perspective towards life.
   
   A must read for any novice.



2. De Rooy easy to read commentary is simplistic yet thorough. I own the Idiot's Guide to Economics and Economics for Dummies, but these books do not compare with with Economic Literacy. I strongly urge this as a buy for anyone who wants to learn about the fascinating world of $$$.



3. The economics course as taught in the classroom sometimes revolves around a lot of theory and leaves a poor connection to the real world. This book is the perfect bridge between theory as taught in college and the pragmatic side of the economy in the after-college world. If you are a business student (BBA or MBA),an entrepreneur or a simple citizen that wants to grasp the real deal of economics you should buy this book. After reading this book you will become a knowldegeable person in the practical side of economics with a broad view to make safe and sound arguments about economics with your professor,colleagues and friends. You might even impress them!



4. I always thought that economics and fun dont go together very well, but the author of this book proved me wrong. By using real life examples as often as possible (and being as funny as possible), the author manages to produce one of the best written introductions (if not the best) about the subject.



5. What an awesome book! I recently began reading this book and have already fallen in love with DeRooy's style. He is an expert in clarifying complex ideas. I am only a general reader with a thirst for knowledge and this book is certainly recommended to those like myself. If only Jacob DeRooy were proficient in other subjects that interest me; he would do some great writing that will help educate the ignorant.

4 comments about David Scott's Guide to Investing In Mutual Funds (David Scott's Guide).

1. The author has written another superb book on investment. This book on mutual funds is fun to read, easy to understand and cuts through the fog of misunderstanding associated with mutual fund investing. It includes a detailed explanation of all the various mutual funds which includes equity, bond and money market funds. It also covers alternatives to mutual funds such as closed-end investment companies. The book provides a wealth of knowledge and is a welcome addition to my library on investing.



2. This is a concise guide for beginning investors. It is easy to understand and reasonably complete. The material is too elementary for someone experienced in mutual fund investing but just about right for someone who is about to get their feet wet.



3. This is another good investment primer in Scott's series. An easy read that is especially worthwhile for someone wondering what mutual funds are all about. After reading this book you may also wonder why you may be paying so much to buy and own shares of a mutual fund.



4. I have found Scott's book to be a real help in understanding how to select mutual funds. Now I know what fees to check and the type fund that best fits my needs. I have recommended this to my friends who were in the same sorry shape I was.

5 comments about The Complete Idiot's Guide to Daytrading Like a Pro, 2nd Edition (The Complete Idiot's Guide).

1. Sorry, but this book appears to have been written by a wanna be writer whose style---if you can call it that---is so blatantly irritating, condescending, and ridiculous that its facetiouseness distracts from any worth the book might otherwise provide which is minimal at best. Almost every paragraph contains a silly lead in to the next as if the writer is trying to hold your hand and help you 'get through' the material. Stuff like, 'ok, we're almost there now!' and 'I know you probably want to get right to the good stuff, but first, let's get a few of the harder points over with!....' Still with me? Both the writer and publisher should be pilloried for presuming the public is THAT dumb. You guessed it: don't buy this rubbish. And while we're at it, probably the only other book that's just as bad as this one for silliness is Toni Turner's.



2. If your stock market experience is limited, this book will serve as a good introduction. The material is basic and presented in an easily understood format.



3. This particular book is fine as a general reference on the stock market, but frankly beginners will need more concrete and to the point strategies to make it as online stock traders.
   
   The reality is that the stock market doesn't care if you are a beginner. It will gladly take your money away if you don't know what your doing. So the bottom line is, you better be PREPARED before you even think about making your first trade.
   
   Stock trading is a very competitive field and in order to succeed you need to FOCUS on a set of simple strategies that you can implement without hesitation.
   
   This game is all about buying and selling according to your set ups. So the clearer your set ups are, the easier for you can be to make a profitable decision.
   
   Hopefully some sites on the web do offer more relevant and updated stock trading information. One of those sites is Sharp Trades ( SharpTrades com )
   
   They focus mainly on short term momentum stock trading strategies, that in my opinion are easier to implement than many other technical systems outhere.
   
   Stock trading doesn't have to be complicated as many people perceive. But you do need to follow a well organized set of rules and tactics, that once you master them, you can aspire to replicate profitable trades with consistency.



4. New edition just out. More sensible approach, and updated. Definitely worth the money, especially for new traders.



5. Recently I decided to try short-term trading. Soon I realise that I need to learn more. What is going on behind bid/ask postings, how to read and interpret Level II quotes, what is Naqdaq TotalView, what advance platforms are available today, etc? So I went to local bookstore and browsed through the section. Didn't find anything satisfactory so bought this book as a temporary solution. After an hour of reading I decided to write my first book review on Amazon.com. This is simply the best book I could hope to find on the subject: precise, structured, brief yet informative, state-of-the-art information. Excellent book overall. I highly recommend this book for beginners and may be even more experienced traders that didn't keep up with the latest advances. My only complain is that the indexing is not detail enough.

5 comments about Rational Investing in Irrational Times: How to Avoid the Costly Mistakes Even Smart People Make Today.

1. This book i must say was very boring. It repeats the same thing over and over. It mainly talks about Index funds as the cure, but i think someone could invest irrationally using index funds. This book would have been good giving real solutions on overcoming irrational investing. Simply saying buying an index fund does not cut it. A better and interesting book i would say is "Why Smart People Make Big Money Mistakes-And How to Correct Them: Lessons from the New Science of Behavioral Economics" by Gary Belsky and Thomas Gilovich.



2. Modern portfolio theory (MPT) has an aggressive advocate in Larry E. Swedroe's RATIONAL INVESTING IN IRRATIONAL TIMES. Investors are advised to stick with index funds, tax managed funds, or exchange traded funds (ETF) and allocate across a range of asset classes. This investment strategy may be a little dull, Swedroe concedes, but his evidence for its soundness is compelling. This book is organized around 52 mistakes that investors make many of which might be avoided by adopting the author's strategy. Many of these mistakes are familiar to readers of the current crop of investment literature: Stay away from hedge funds, IPO's, market timing strategies, market gurus, yeserday's winners ("recency"), the misuse of margin, and high turnover portfolios. Recognize that many mistakes result from our own behavioral patterns including overconfidence in our skills, failing to sell our losers ("regret avoidance"), mistaking skill for luck, failing to rebalance over time to our basic plan, over-concentration in a company we think we know, etc. Much of this familiar territory. Where Swedroe distinguishes himself is in his relentless focus on a few key ideas that are logically developed and supported by recognized academic research. Financial markets are too efficient in their assimilation of new information for an active manager to consistently outperform a benchmark index. Lucky streaks are common but not proof to the contrary. News is by definition a surprise (viz., randomly occuring and unpredictable) and the evidence is strong that it is a "persistently important factor in stock performance". Active management will not anticipate the unexpected. Achieving "incremental advantage" over the market is therefore virtually impossible. Trading costs, tax issues, and the opportunity cost of having to hold cash in actively managed mutual funds are additional factors that make them structurally deficient. Separate studies by Mark Carhart and Russ Wermers support the underperformance of mutual funds relative to appropriate benchmarks. Meanwhile, the best way to reduce the portfolio risk of bad news in an uncertain world is to diversify. If your ouija board is warped, diversification might be a prudent strategy. The research of Fama and French, Ibbotson and Kaplan, and Brinson, Hood, and Beebower all reach a somewhat surprising conclusion: Far and away the most important factor in equity returns is not stock selection or timing. It is asset allocation based on market capitalization (size) and value (book to market, BtM). It is far more important to be in small cap value stocks or international growth than Industry Leader X over Competitor Y. Using indexed securities is an efficient way to deploy your assets to these broad asset categories. To be sure, Swedroe's argument for indexed securities over individual stocks and most actively managed mutual funds runs counter to an entrenched financial services establishment that is based on exclusive analyst recommendations, punditry, and televised stock news sizzle. Nonetheless every investor will profit by implementing some of the ideas in this book.



3. This book contains dozens of descriptions of classic investment blunders that even experienced investors make. I found that this book is not a classic Investment How-to, but rather a list of what to watch out for, how to spot snake-oil, and how to approach investing with a balanced index fund strategy that will beat virtually all professional money managers (especially after taxes and other expenses are considered). Numerous examples, studies, and professionally backed research is used to make hard-hitting points stick and shatter many myths that abound in the financial industry. Combine this book with Larry Swedroe's other works and you have a complete set of facts to make a winning portfolio that will survive and prosper in any market.



4. In this book, Swedroe provides lots of data to prove that following the Modern Portfolio Theory and the Efficient Market Theory is the only way to beat the market indexes when investing in the markets. Whether you wish to agree with this premise or not, he does provide some useful information, specifically on the benefits of investing in "passively-managed, tax-managed, index funds." The information about the effect of taxes on a portfolio makes it worth reading if nothing else.
   
   For the serious investor, this is a book, along with a handful of others, that you should read simply as a foundation of knowledge upon which to build your investment strategy.



5. Okay, so the book is long and towards the end I already got the picture. However with 52 mistakes in the book (one for every week of the year), you are bound to find at least a few that you're prone to. Some of them might even surprise you, because it points to something you didn't think about.
   
   One of the mistakes that stood out was # 29 "Do you confuse before-the-fact strategy with after-the-fact outcome?" Basically you might have pursued a good sound strategy, but because of the nature of chance, it did not work out for you. So you ditch the strategy and try something else. The fact that it did not work out (outcome) should not cause you to think the original strategy was not good.
   
   The other important thing I learned is that great companies are not always great stocks (#19). And as the price rises, the risk premium falls, and low risk premiums give low future expected returns (#20). High priced stocks of great companies have a low risk premium, high price risk and are priced for perfection. Therefore if anything upsets the apple cart, they fall by more than just the business risk, they also fall because their risk premium just increased. Seems counterintuitive as most people assume that a great company has a great stock that should keep on going up, i.e. low risk premium is also means low price risk (which is not the case).

1 comments about Hoshin Handbook, Third Edition.

1. Participate in Pete Babich's huge experience. From a hands on perspective, stressing feasibility, he presents a well structured approach to steering a business unit by Hoshin Planning. The Vision as well as goals, objectives, measurables and strategies are translated into the speech of the internal customer, strategies become clear and well understood incrasing the buy in of all stakeholders in the company.
   It's logical, it's based on standards, it stresses results as well as processes, so it's a powerful tool, especially when you're engage in any Change or Lean Management initiative. You won't have to invent the wheel again. I found many useful examples inside the cd. Implementation managers and / or consultants can save a lot of time using the charts in the book, time they might need to convince top management or the entire leadership crew to become familiar with the new Hoshin process. Because what is Hoshin about in the end? It's about leadership!
   There is social-cultural side of implementing Hoshin and it is about change. Hoshin and Change Management must go together and Pete Babich gives a lot of implementation tips that help quality process managers and line managers save nerves and even money. In this way, Hoshin can be a success story.
   Recently I read an article on Ford's new CEO's Leaderhip Style, which is driven by facts and data (and commitment). The first thought that came into my mind was, he must have read Pete Babich's book.
   It's value add!