Business Money Books

This is a great, highly readable and very informative book for anyone looking to buy or refinance a house. The take home message is that your mortgage broker is in the same category as your car salesman, except that your home will cost at least 10 times what your car will cost. You can't afford to go into the process ignorant or you are a sitting duck.

My only caveat is that there are a few missing pieces about how to translate the YSP percentage into the mortgage rate effect - how much, exactly, does a 1% YSP increase your mortgage rate? A little more explanation would clear that up.

In addition, this book badly needs a second edition. It was obviously written either before or just at the start of the recent mortage/foreclosure debacle. She never talks about the effects of the current tight credit market on a consumer's ability to borrow and what fees might be charged and how much you can actually negotiate today. Her FICO scoring categories, for example, are very out of date. Also, I know that there has been some crackdown on the mortgage industry, and some of the practices she mentions may have been actually made illegal, or at least come under more scutiny, but I'm not sure which ones. An update here would help.
Overall, this is a great book. You will get your money's worth and much, much more.

Michelle Singletary recommended this book in the Washington Post. It's clearly written, full of very useful information, and fun to read. I only wish I'd had it before I signed the loan contract. But, no worries, an email to the author, a quick reply, and I received more valuable advice. Don't get a home loan without reading this book first.

This is a great book for anyone thinking of taking out a loan for a home or home equity. This book can literally save you thousands of dollars and give you a good working knowledge of the mortgage industry and all the scams they run to drive up their profit at your expense.

Unless you work in the mortgage industry yourself this book is a must read before picking up that phone and calling a loan officer. Even if you have had gotten loans in the past, this book will be the best guide through the, at time seems mysterious/dark, mortgage alley. It is everything you will need to know to ensure and feel confidence that you have gotten a good loan. And that's big for me, to know and be able to sleep at night on a relatively big financial decision. ALL your questions will be answered in this one book. It is all collected and packaged for you. Why spend hours to search online, browse numerous websites and collect this valuable knowledge? It is all right here! It was an easy read too! I personally read it like a novel, the next page seems to answer exactly what I was about to ask. Please read, learn and be a savvy loan consumer for you own sake. It will save you and your loan officer a lot of time, grief and MONEY when you guys are speaking the same lingo.

As a retired attorney, I have read my share of how-to books in various areas of expertise. Many have disappointed for lack of follow through and updating techniques such as online access to the author, with up-to-the-minute links to web pages addressing new areas of concern. Carolyn Warren's incredibly thorough, professional and brilliant comprehensible book lacks nothing in this regard. In fact, I would place this book among the various genres as the #1 book I have read in the last year that has made it possible for me to actually understand what was once an almost impossible mess of information for the layman. Having no background whatsoever in banking, financial management, debt, mortgages, credit, equity loans etc., this was a perfect book for me to rely upon for clear and concise knowledge. Oh, and after reading this book along with accessing her free info online, you will be delighted to know that Carolyn Warren does not just leave the reader there. She actually answers your emails! Yes, an author who cares about you -- long after you have purchased and read her book! You just gotta get this one - she is a star who knows what you need to survive like no one else out there.

My daughter has been asking about ways to make money for the last couple of weeks, so I decided to get her this book. It gave her some ideas and encouraged her to look for more ideas on her own.

Does your young lady know the value of money? How do you teach her to make money work for her is wonderfully expressed in this book. Preteens(and all of us) need to know how to live on what money they have and refrain from debt and overspending ..a life-style habit can begin early when the young girl knows expectations of her in regard to money.

This book isn't as good as the other ones. I mean,it was a good book,but I think the other ones were better. But it does help you about spending money and stuff. But it also was a little boring at parts.

Money is such a simple thing, but the way we earn it, save it, spend it, owe it, etc. is a very complex thing, indeed.

A Smart Girl's Guide to Money is an exceptionally well done book aimed at a young audience -- hopefully before they make the uninformed miscalculations that drive an alarming number of Americans into debt, sometimes before they graduate from school.

How wonderful that American Girl has combined both survival skills and entertainment to benefit their target audience! Well done!

The first thing my daughter, age 11, read was the 101 moneymaking ideas and unfortunately, she was "smart" enough to point out that it really wasn't 101 unique ideas. For example: Decorate tins for Valentines day (#98) is similar to #99, #100 and #101 which are to decorate tins for other special days. Nevertheless, I pointed out that one idea can have different uses... She seemed satisfied with that answer and quickly moved on to "How to get a raise" in the allowance section.

I was impressed at the succinct ways in which ideas are addressed. The book includes:
~ many different emotions associated with money (including friendships and partnerships),
~ how everyone's personality is different (creating a different spending style)
~ values of money (good or bad purchases and needs or wants)
~ budgeting (including plastic money, use of checks with ledger entry, and types of investments)
~ a few quizzes such as one to figure out what type of work is best for you

Don't expect a lot of heavy discussion and explanations. As I said, the text is succinct, even to the point where you may need to add some parent explanations. Parent involvement is a good thing though, because the sooner you discuss finances with your child, the better off he or she will be.

The book provides 8 clear ways to evaluate if you should buy a stock. These ideas are similar to William O'Neil or other investors, but overall good reminder as to what to look for. You can read this book in an hour. The only issue with this book is that you are basically buying and holding even when the market is down.

Do you want to know what the Author is buying? Go to his web site at www.navellier.com where he manages funds. His model portfolio's are down, some over 20% ! Yes, the issue here like many people that manage funds or model portfolios is that they stay invested even in the worst times.

Indicating what to buy is good as this book outlines, but having people hold on for a gut wrenching ride losing over 20% to wait YEARS to get it back to me is foolishness.

What is missing in this book is an overall market viewpoint to answer the question "Should I be a buyer, selling short, or stay in cash?"

This book does not answer that question. A great book that will and pointed to the down market in 2008 is the classic "Martin Zweig Winning on Wall Street." This book is a real winner and has a similar formula for picking stocks but you will get few results.

I would take Navellier stock picking recommendations then be a buyer based on Zweig's marketing timing model. Why buy big in a down market? If you want a gut wrenching experience go to Cedar Point or 6 Flags.

Very simple to understand and very straightforward. It helps an investor to understand he needs to remain cool, rely on facts and forget about emotions.

This book provided an excellent overview of successful growth investing; but, while providing broad strokes, the book seems primarily focused on selling further services from Mr. Navellier. I share Mr. Navellier's love of numbers, but I wish there were further information on the exact forumlas used so I could replicate the calculations on my own...unless he is personally screening each of the 5000 stocks each day.

I tried to sign up for the given website and I have trial access, but have yet to receive credentials to sign on as a member--after two attempts and two weeks later. I have received all of the solicitations to purchase investing newletters though--from $200 to over $1000 per year or more.

Mr. Navellier is one of the few investors who beats the S&P 500 according to the Hulbert Report, but what if I invested that $1000 per year instead of purchasing the newsletter? If I invest $1000 for 20 years at a growth of 12% a year, $20,000 becomes $90,000 in a no load index fund--discounting taxes and other fees...I feel free to discount as Mr. Navellier does it in his advertisements.

The positives of the book are as follows:
1. It gets you excited about returns
2. It makes a good case for growth investing.
3. It is well written.
4. Mr. Navellier has demonstrated he is one of the few money managers to consistently beat the S&P 500

The negatives:
1. No exact way to replicate results on your own, you need the "free" website to do that.
2. The constant reminders that Mr. Navellier's newsletters were successful, if only you had purchased one...

Excellent explanation of the methods used to evaluate the financial strength of a business enterprise.

this little book shoud have been less patronising The authors naivite on thinking his readers were going to be his extended children got him to writte a 101 of finances. No to useful for the prise.

I don't have a huge estate, and thought this would work for me. I am shocked to see that SENSITIVE INFORMATION, your SS number, account numbers, date of birth, address, EVERYTHING, is stored on some server somewhere in cyberspace! Hackers would find this server a TOTAL GOLDMINE!! I selected the option not to save my data to the server, but to export it to my own computer, and import it next time I used the software. After filling in a good deal of sensitive information, I found no option to save it, and ended up exiting and losing it all. Throughout the use of this software, I had to click on a disclaimer, and warned to have a lawyer look at the documents it produces to be SURE they are complete, etc. I looked on the CD for "help" files, and found that the entire "program" consists of four tiny files, just enough to get you online. EVERYTHING is done online. There's nothing on the box that explains this. I would never have bought this had I known it's vulnerability. I can't believe someone with the status of Suze Orman would allow her name on this software. I've lost my respect for this lady.

This was a very easy to use book. I have been wanting to make a new will and trust. I am still working on funding my trust. I had no idea what to do and she has letters that add your info. It is very worth the money.

I am puzzled by some of the complaints of Mac users being directed to the website for updates to the program. What is the big deal? You can opt out of storing any sensitive information and you just download and print.

I am very happy with the purchase and am glad to have the powers of attorney included, as well as the choice of standard will or trust. I HIGHLY advise everyone to get this kit and get these essential documents ready. The best kit of its kind on the market!

This software installed easily on my MacBookPro with OS v10.4.11. Then the application started and explained that ALL the information, including social security numbers, dates of birth, etc., etc. are stored somewhere online. You have the option of exempting certain information but you then have to re-enter it each time. As with any end-of-life planning, there is highly detailed personal information about financials, property, etc. that I am completely uncomfortable about storing in the ethers regardless of assurances of complete security. I was hoping this was a piece of software fully contained on the laptop and used the internet solely to update forms and push changes to the laptop. Further, the fact that all this personal data is stored somewhere online is not explained anywhere on the outside of the box or on any of the paper inside. Had I been aware, I would not have made this purchase. Supposedly there is a way to replicate the online stuff to the laptop but even this is only a disconnected version of what is already online. Not at all happy.

The CD will not work with Mac 10.4. When I emailed the tech assistance, they just referred me to an online application of the Will and Trust Kit, which was NOT what I had wanted. I wanted to be able to use the CD in my pc. The online application did NOT update the CD to be able to use it with Mac 10.4

Book was shipped in the condition in which was stated and in a timely manner.

The product came on time and in a great condition.
Also a great price.

I used this book for an online self-study course in finance, so i was dependent on the book alone for clear explanations. Unfortunately, it did not live up to my hopes. I would think that I understood the text until I got to the questions at the end of the chapter which seemed to have little to do with what I'd just read. There has to be a better book on finance out there than this one!

It is a great book with Biblical strategies to help you get out of debt....and re-focus your thinking!

This book blames everyone but the consumer for their problems. This includes the government, credit card companies, etc. It is true they target the consumer and hope the consumer is dumb enough to get themselves into their web, however, the ultimate person we should be targeting is the consumer and educate them to be responsible for their actions and quit blaming others!

I personally think that the book remind us to be back to basic on money matter. It remind me of the wording in the US dollar - IN GOD WE TRUST. It is for everyone regardless your religion as long as it can help you achieve your financial freedom. Highly recommeded.

Very helpful chapters, with insight and practical applications in organizing your finances.

The purchase of this book will more than pay for itself with the informtion it contains. It is good for anyone at any stage of their life and is truley a blessing.

This book has been wonderful for me explaining the very basics of day trading! I would highly reconmend this book to anyone who wants to see what it's all about and how things work. It's obviously not meant to be a detailed book but more of "what this means and what that means". Perfect for dummmies!

I have a Mensa IQ - have traded equities for 15 years and found this book to be complex and difficult to read. It presumes a lot of things that puts this well outside the title " For Dummies." "Daytrading for Intermediate to Advanced Traders" would be more honest.
If you are looking for simple understanding of the day trading concept, look elsewhere. If you want an advanced text, this is probably a minimally fair choice.

I received this book as a gift and, at first, I was skeptical. I spent 20 years working for investment banks starting as a runner on the floor and retiring as the head of a trading desk. "What," I asked, "does this book have to teach me?"

Ah, beware of hubris! I was pleasantly surprised at what I learned. The book has a good introduction to how to obtain the sorts of information that a real day trader will need, but is best on the emotional. Emotions are almost always overlooked. I've seen lots of bright people rise to a certain point on a trading desk and then just implode because they couldn't handle the stress. And these were people working with other's money. It is even worse when it's your own dough on the line. The guy who practices day trading until he has his system all ready and then blows out a month after going live is very common.

Early in my career I started my own firm. This was before day trading was even technically possible and the firm was in the options pits. I got on the emotional roller coaster: on good days it was "Come on Honey, its steak dinner time!" On bad days I tried to save money by rationing toothpaste. It all ended in tears.

This is all by way of stressing the role emotions play in successfully trading the market. This book discusses strategies actually employed by some of the best traders on Wall Street and the book is worth looking into for that alone.

This book was copyright 1997! Old information, very confusing for 2008 (old references, which are in my opinion, now irrelevant). B. Hodgson

I get up in the morning and walk my dog on the walking path just off the beach (Pacific Ocean adjacent). On my walk I always say hello to Mrs. Rothchild who is reading the Investor's Business Daily while sitting on her polished teakwood patio set. I jibe her that she should switch to the Wall Street Journal and get a real job investing like I do. After a quick but nutritious breakfast, I settle down to my state of the art computer where I E-trade my way to this lavish lifestyle I currently enjoy (takes no more than an hour!). After my "investing", I'll cruise PCH in my new convertible BMW and work on that driving tan. Thanks Joel Greenblatt!

What the heck? Oh drat, the alarm went off. I was having that dream again; now I must get ready for the drive to Pomona in my '98 Daewoo. So kick me, I am not yet a stock market genius. Can I be if I apply the lessons of this book? Maybe... but I have neither the time nor the money. For the person with both it might still be a great idea to have a stock market genius walk them through the paces for a few months.

On the merits of readability, Greenblatt dishes out the drudgery in a well presented and entertaining style. You get case studies, nifty chapter summaries, advice not to run through dynamite factories with lit matches, and a Gilligan's Island hit in the glossary (not bad for fourteen Yankee Dollars).

P.S. All you reviewers and review readers out there, have any of you struck pay dirt following the advice in this book?

Don't make my mistake. I avoided this book because of its title which makes it seem cheap and superficial. I finally decided to give it a try and I'm very glad that I did. Greenblatt is funny, direct, and easy to understand. His advice is practical that can be put to use immediately by investors at all levels. He actually "spoon feeds" a lot of this info to the reader which is rare. Of course no how-to book can completely do this and effort and time by the reader is absolutely required and essential to fully take advantage of this book from a financial standpoint. As Greenblatt points out this is good otherwise if investing were easy then there would be too many people competing with you and the profits would disappear.

At the end of the book he also lists many other sources (newspapers, magazines, book, publications) where the reader can gain further knowledge. Even if you do not benefit financially from Geenblatt's book, it is still worth reading due to it entertainment value. It is delightful. From a practical standpoint this book is far better than The Little Book That Beats the Market also by the same author.

I don't think you can find the information and ideas presented in this book anywhere else. These ideas can come only from a smart investor with a long experience like Greenblatt.

The book teaches you how to utilize special corporate events like spinoffs, mergers, and bankrupcies to make big profits in the stock markets. The ideas are very useful and supported by many real life examples.

1999 Fireside reissue of 1st edition (1997), 299 pages (of which 261 pages form the main body of the book).

Despite the awful title, I really enjoyed `You can be a Stock Market Genius'. Greenblatt laces his (excellent) content with plenty of jokes, which I always think of as a somewhat risky approach: some readers who would otherwise appreciate the content will not like the delivery.

By the time of publication, Greenblatt's investment firm had already achieved 50% compound annual growth for 10 years, so could write his book however he pleased. I like it when people don't need to write books for financial reasons - you get a better look at the author.

Greenblatt's book reminds me strongly of Mohnish Pabrai's `The Dhandho Investor', which I read a few months ago. I don't think one should be particularly surprised, as they both belong in that tiny group of investors who have not just beaten the stock market, but have absolutely smashed it. The following summary points for `You can be a Stock Market Genius' could be used for either book:

1. Concentrate your efforts on areas where bargains are likely to occur ("If you preselect investment areas that put you ahead of the game even before you start ... the most important work is already done.")
2. Limit downside risk ("If you don't lose money, most of the remaining alternatives are good ones.")
3. Load up on only a few best ideas ("...don't screw up a perfectly good stock-market strategy by diversifying your way into mediocre returns.")

The second point, which is the same as the concept of `margin of safety,' works because it - unlike the world of analyst earnings forecasts - acknowledges the severe uncertainty that is reality. I particularly enjoyed Nassim Taleb's `The Black Swan', partly because the world he reveals ties in so well with the `value' approach to investing. Both good and bad large, unpredictable events occur more frequently than we expect. If you organise your investing (and your life) so that you are protected from some of the negative shocks, but left exposed to the positive ones, this is likely to serve you well.

Pabrai focuses on distressed situations (what he calls `high uncertainty, low risk') and Greenblatt likes special situations (spin-offs, merger securities, etc). But the theme is the same: in order to get really good results you've got to be looking in areas other people are not.

Greenblatt is willing to concentrate more than Pabrai, who simply limits his positions to a maximum 10%, to protect himself against error. But these are differences in style rather than substance. They both look for promising situations/ideas and only then do the necessary work. Both profess to avoid use of Excel spreadsheets (In 2006 Greenblatt was asked if he used spreadsheets: "I really don't know how to build spreadsheet models. But the good news is that you don't need spreadsheets to make money.") In other words, they keep it simple.

Before he gets into the specifics of special situation investing, Greenblatt spends a chapter going over `some basics'. This short section of the book is either an excellent primer or reminder of the general requirements of a successful investment strategy - and I commend it to you without reservation.

His book also contains some excellent advice about selling. It is something I have been thinking about a lot recently after reading Pabrai's `The Dhandho Investor' and Katsenelson's `Active Value Investing' - both of which make a strong case for the need to learn to sell in order to get significantly above market returns. The problem with this advice is that selling well is somewhere between extremely difficult and impossible (as various super investors, such as Greenblatt, Marty Whitman, Munger, etc. have said).

Greenblatt's advice is very simple:

"The bargain created or unmasked by the special corporate event - that's what draws me in. The quality and nature of the business - that's what usually determines how long I stay. So trade the bad ones, invest in the good ones."

(You may note that this is essentially the same as Buffett's counsel, who wrote: "when we own portions of outstanding businesses with outstanding managements, our favourite holding period is forever.")

I was struck by how often Greenblatt rammed home the importance of incentives throughout his book:

"Insider participation is one of the key areas to look for when picking and choosing between spinoffs - for me, the most important area."

His understanding of the critical importance of incentives is very wise and is surely one of the key reasons for his outstanding success (although I wonder if he still holds stock options in such high regard, now it is clearer that the lack of downside risk can encourage excessively risky behaviour?). Charlie Munger said this about incentives in `The Psychology of Human Misjudgement':

"...almost everyone thinks he fully recognizes how important incentives and disincentives are in changing cognition and behaviour. But this is not often so. I think I've been in the top five percent of my age cohort almost all my adult life in understanding the power of incentives, and yet I've always underestimated that power. Never a year passes but I get some surprise that pushes a little further my appreciation of incentive super-power."

It's also one of the reasons why I like Karen Pryor's book, `Don't Shoot the Dog,' so much. Munger pointed out in the same talk I quoted him from above, that what economists call `incentives' is the same as what psychologists call `reinforcement'. Reading an excellent book on training using positive reinforcement (like Pryor's) is thus extremely useful in improving your understanding and critically, practice of making use of incentives.

So long as you're not the type who objects to a light-hearted approach, you're likely to find Greenblatt's book a lot better than the title suggests. Highly recommended.