Business Money Books

... fun read ... has the same feel as the James Burke PBS show from the '80s that connected people and events in enlightening ways.

Best book on LTCM for those who like technical detail and mechanics. This is closer to the microstructure of how everything went down, and compares favourably to "When Genius Failed" for those in the industry.

Very readable, well written, covers all the best topics, and again has the best detail.

This is one of the rare book in my recent reading history that I just can't seem to finish reading. I find the style of writing disjointed and I am not able to develop interest in the characters of the book either regardless of how famous they are. Perhaps if the author focus on fewer characters, it would help. (By the way, I really like The Smartest Guys in the Room--the Enron book)

The book appears to be a hotchpotch of trade ideas. I suspect that the author is not very well versed in finance. I find the presentatinon of some standard finance theory awkward. I work in the field of credit derivatives for 6 years, so I don't believe my problem stem from my unfamiliarity to the topic.

This is an extraordinarily well-written book. However, if you're not well-versed in quantitative finance, you're probably going to have a hard time following some parts of the book. Be that as it may, I doubt you'll find a more accurate and more informed book on the subject. For those looking for a more fictionalized, but highly readable, version of events, pick up "When Genius Failed."

Inventing Money: The Story of Long-Term Capital Management and the Legends Behind It. By Nicholas Dunbar. Wiley, 248 pages $29.95
When Genius Failed: The Rise and Fall of Long-Term Capital Management. By Roger Lowenstein. Random House . 264 pages, $26.95

Long Term Credit Management's demise is one of a number of recent high profile collapses involving the world's derivatives markets. Other recent ones include those of Sumitomo's chief copper trader, Yasuo Hamanaka, who lost $1.8 billion during a decade of unauthorized dealing and price manipulation in the copper market; Orange County's $1.7 billion loss on risky, highly leveraged investments on the direction of interest rates; Metallgesellschaft's $900 million loss on crude oil hedges; and, of course the activities of Nicholas Leeson, Baring's infamous Rogue Trader.

All of these cases throw forward lessons I use in my Futures and Option classes at Sophia University. Important though they are, the main textbooks remain those written by such Nobel Prize winners as Robert Merton and Myron Scholes. The irony is that both of these geniuses were centrally involved in LTCM's demise. Despite their faux paus, their works remain seminal. They are brainy guys. Unfortunately, brains are not enough. Genius sometimes fails.

LTCB was actually very short-term focused. Their assets consisted of a gigantic pile of extremely short-term pieces of paper leveraged to an unimaginable degree. They bought vast amounts of government paper and borrowed even greater amounts to pay for it. When Russia's markets collapsed in 1998, so did LTCM. The bank's complex mathematical bets on discrepancies in values amongst different bonds and derivatives came dramatically unstuck. Its US$7 billion capital base was eroded overnight. Most of LTCM's bets were in credit spreads, particularly European ones in the run-up to European monetary union. Essentially, LTCM held two different instruments - usually Italian, Greek or Danish bonds - and bet that the spread between the rates they offered and their German and American equivalents would narrow.

When the Russian government defaulted on its debt, credit spreads in all markets widened suddenly and spectacularly as investors stampeded into the safest of safe havens. Investors fled Italian bonds, Brady bonds and every other relatively risky bond that LTCB depended on for sustenance. Borrowings had put LTCM's total exposure at more than US$100 billion, more than fourteen times its equity base. Most of this money had been sunk in derivatives. As its positions worsened, its daily margin calls bankrupted it. LTCB made the cardinal mistake of not cutting its losses. It threw good money after bad, believing that its fortunes would reverse. They didn't. Unable to meet margin calls, LTCB asked the US Federal Reserve Bank to bail it out. The Fed, afraid that LTCM's collapse might imperil the world's entire system, duly obliged.

Because LTCB was comprised of Wall Street's best and brightest, there are lessons galore to be learned here for students and practitioners alike. Unfortunately, these two books do not do full justice to the lessons this case brings out. Lowenstein is a very successful American financial journalist and his book is by far the easier to read. He discusses the main characters involved in the debacle. Unfortunately for him, most of the main players have no real personalities to speak of at all. They are the so-called rocket scientists, the guys and gals with the quantitative expertise necessary to implement the complex strategies LTCM's Nobel Prize winners devised. To do them justice, one also needs a quantitative background. And because Lowenstein lacks this background, his book, though an enjoyable read, is peppered with potentially serious mistakes. And, in the world of derivatives, mistakes can be extremely costly.

Dunbar has the quantitative background Lowenstein lacks. However, Dunbar wanders far from this. He discusses such irrelevant things as the role Chicago's grain markets played in America's civil war. He also spends more than half the book explaining how option pricing developed and the key role Scholes and Merton played in that process. Countless other books and articles, including those by Scholes and Merton, do this much better. Dunbar's book should have concentrated more on LTCM's collapse - he spends les than 50 pages on it - and less on America's Civil War.

Therefore although Lowenstein's book is stronger on the human side of the LTCM debacle, Dunbar's is more technically correct - even though it has also considerable shortcomings in that regard. If Hollywood had to choose between them, it would choose Lowenstein's book. However, Hollywood aside, neither will notch up significant sales in academia or in business circles. Academics and practitioners will continue to plump for the penmanship of Merton, Scholes and their like. At least they have the theory right, even if they sometimes get the practice wrong with the devastating results LTCM's demise typifies. In the end, the faulty scholarship evident in both books and the faulty strategies propounded by both Nobel Prize winners drive home the old message of caveat emptor, buyer beware.

Jason Kelly's book The Neatest Little Guide to Making Money Online has been an invaluable asset to helping me to start my own on-line business. I had been wanting to have my own business for several years and didn't know where to start. Coming across his guide in a local bookstore was a stroke of luck. Here was a way to start a business almost risk free cost-wise, and it was also dependent on no one but myself. The book is geared to different levels of computer knowledge from the very beginner, to those who have some knowledge in certain areas like myself. I was able to read the intro and first chapter, skip the part about buying a computer and dive right into the software bit. Now I have a web site geared to something that I love making (Caesar Salad), and I get to use my artistic talents that I haven't known what to do with for so many years. I continually refer back to Mr. Kelly's book as a guide to see what I have to do next. I have followed his advice as to free services that have helped me to become listed with search engines and directories. Now I just have to wait and see what happens (and update my site of course). And if nothing happens it's okay because my investment has been very low-just a few dollars per month. A "neat little guide" indeed.

Succinct, informative, and well-written, The Neatest Little Guide To Making Money Online is a great value. Admittedly, I am a novice at making money online, but in my opinion this book is a great starting place. Jason Kelly loads this book with well-researched resources for all aspects of successful website development, almost always suggesting reliable FREE alternatives to the pay-for-service resources on the net. It is fun and easy to read, and it contains no filler. Recommended.

The Jason Kelly "Neatest Little Guide" franchise of books is sometimes inspired, and sometimes he just "phones it in". This book is an example of Kelly "phoning it in". Even absolute internet beginners will be scratching their heads over why there's a chapter devoted to "How to Buy a Computer". Obviously someone interested in making a website already has a computer. We're talking extreme basics here folks, and unless you've been dwelling in a cave for the last decade, you'll probably view most of this book as common sense. Sporting a 15 dollar price tag just reinforces the fact that everyone should steer clear of this book and buy their favorite CD instead.

Jason's book is a good primer for making money on the Web. It covers all the basics in a very clear way. The links to on line sites he lists are also a great help to beginners. You can spend weeks or months on the web searching for the "help" and"information" sites he lists. By using all of his tips and those you pick up from the sites he suggests you visit you will make money, not a fortune perhaps but as he states it will help to pay off the car or house.A good little book well worth the money.

For anyone interested in operating an online business,this is the book for you!Jason Kelly walks you through every step and covers all the bases in simple informative language that is consise and thorough. The book is fast and easy reading.Its greatest attribute is how Mr.Kelly demonstrates realistic achievements that are possible with an online business. No get rich schemes,just sensible suggestions and guidelines that make sense. I look foward to getting my business started.I keep"The Neatest Little Guide to Making Money Online"right next to my computer.

This book was very helpful and hilarious. I have already begun to use some of Alan's advice and tricks. I will never buy an umbrella again. I would definitely recommend this book.

I love true stories about the ways that people created their own opportunities for being succesful. The author has a witty and sarcastic writing style that makes you want to cheer for him. Throughout the book you can just tell from his determination that he is going to find a way to make it.

Even though a large part of his success was luck and timing, you have to have the guts to be in the game to make any money. This book is a relief from all of the other fake real estate authors out there that are just trying to motivate you by selling the lifestyle and theory.

I'm not one to read "how-to" books, especially not financial ones, but I found this book to be engaging, inspiring and funny! I enjoyed reading about Alan's journey as well as learning about saving and investing money. His easy-going, conversational writing style made it an easy read.

I have made some financial changes in my life, for the better, after reading this. Even if you're not interested in investing in real estate, there is plenty of advice about having fun while saving your money and how to not spend foolishly. Very practical things you can do to save a little here and there, which adds up..and then what to do with the money you've saved.

I recommend this book to people of all ages but it would make a great high-school or college graduation gift. Thanks, Alan!

This book really spoke to me because it provided practical ways to save money, and Alan gives great ideas on how to apply that saved money to different vehichles that grow your wealth. Although I'm not sure if I could follow all of Alan's suggestions (see the raman noodles story), I know I can and should follow most of his ideas. I will pass this book onto my son so that he can follow Mr. Corey's great advice as he grows up - and hopefully my son will be a millionaire before 30 too!

A Million Bucks By Thirty is ostensibly a self help finance guide but the book could just as easily be stocked in the humor section-I mean this is in a positive way; not like his advice is a big joke...I have adopted many of his tips.

Alan's wry tone and wacky non sequiturs makes it the perfect gift for a cynical recent high school or college grad. What the Punky Brester more could you want?!

After reading two other books by Justin Mamis, I was excited to read this one. When to Sell: Inside Strategies for Stock-Market Profits and The Nature of Risk were two extraordinary books on trading. This author knows what he is talking about and really relates tough topics in an easy to read fashion.

My opinion is if you trade, you need to read all three of these books.

This book, "How to Buy", covers everything you need to make your decisions and pull the trigger on a trade. He explains what to look for, how to gauge the strength or weakness in a stock, how to gauge the attraction for other traders, and how to get in on that stock as it is being accumulated.

Why would you buy a stock that may not do anything for you? Get one that is showing the signs of moving where you want it to go. Justin talks about buying sensibly and not emotionally. He also talks in depth about when NOT to buy. That topic alone could save you a fortune on your next stock pick.

I can't say enough about the series of When to Buy, When to Sell, and The Nature of Risk. Ironically, I bought the When to Sell years ago, read it and shelved it. It's pages would have saved me a bundle over the past year. As the worst seems to be behind us, knowing when to get back in is key. Simply written with great examples, make this book a must own.

From covering all the thoughts that go through ones heads at the time of pressing the trigger, to all the consequences of these thoughts. Everything is covered in this book.
Then it helps one create a strategy for buying based on facts rather than emotions.

I would recommend this book and When to Sell above most books about trading.

...and depression for at least the twenty years I've been watching him...does anybody EVER look at his success rate?...about twenty years ago he made something like a million dollars trading futures based -- so he claimed -- upon Elliott wave theory...he then invested that money entirely in treasury bills and started a stock market advisory newsletter...he has been significantly correct ONCE -- TWENTY YEARS ago...if you had followed his advice since then you would probably have gone broke...and he, himself, admits that he keeps his money in treasury securities and doesn't invest according to his own predictions...now, MAYBE he'll be correct again -- SOMEDAY...but do you really want to follow the advice of someone who's right -- MAYBE -- every twenty years?

page 129 - "one can imagine a scenario in which the fed, beginning soon after the onset of deflation, trades banknotes for portfolios of bad loans, replacing a sea of bad debt with an equal ocean of banknotes, thus smoothly monetizing all defaults in the system...". that's what happened when the fed recently bailed out some investment firms! it's prophetic. this guy is right on track, and it's about the ONLY book on amazon that is this accurate. ya know, there's a negative review on this book written by someone in florida - you should hunt it up. the negative reviewer pokes fun at this book's conclusion about the housing market. bet he's not laughing now!

I don't know where he is today but the author couldn't be more wrong in his predictions for 2002 or is he just off by 7 or 8 years ? Had he wrote this two years ago about 2008/2009 he would have be heralded as an economic prophet. Its completely uncanny that he describes, in the most precise detail, what 2008 looks like but, unfortunately for him, he is predicting todays scenario to happen in 2002/2003. It didn't of course. We not only did not experience a credit bubble but the 2001 Recession turned into a bull, quite the opposite of the authors prediction of a major depression. Of course he could excuse his error today by saying that he wasn't 100 % certain on the time frame, that he did mention a slight chance that it could happen later...at any time really, but such Delphic predictions are absolutely meaningless in their ambiguity. Even a stopped clock is right 2 times a day. I mean, eventually all stock markets along with our solar system get sucked into the sun in 2 billion years. In any event, the author does a great job in explaining the Fed and monetary phenomenon and policy but like pretty much anyone who tries to predict where its all going with technical analysis (ie graphical trend lines) we can see now that he fails and there is no reward for failure in economics. I must confess however that I am defiantly prejudiced against technical (graphical) market analysis as a predictor. I'd recommend this book out of a library for a educational read on the mechanics of money and banking, but not to buy. It's just too old and embarrassingly wrong at its predictions that can now be seen in hindsight.... but then again what an uncanny resemblance to the banking debacle of today ! If one could just add 6 or 7 years to the authors predictions it would be a world best seller to be sure !

Pros: "Conquer the Crash" by Robert R. Prechter Jr. is a very good book. I discovered this at the public library and went "WOW!". I bought a copy for myself and a friend. The author's data is pretty accurate and reliable. He goes through showing how the current market is very unstable and how it got there. He goes through the whole subject of depressions and recessions and shows through graphs that history of the ups and downs of the US economy. He gives really good data as why a crash is coming and it's pretty much not a question of "If" but "When". There are places where he gets rather promotional about his Elliott Wave Theories. However, it's not as bad compared with a lot of other books and there are just a few places that he gets on this bandwagon. He is very honest that he doesn't have all the answers. He provides resources and, in the latter part of the book, provides how to survive and prosper after the crash. Our best shot is to stay constantly on top of financial news that are behind the curtain. Yahoo and MSN ain't gonna cut it. If sites have RSS, then a good reader can be very handy. Picking up information and processing it quickly and accurately is a must.

Cons: I gave this 4 stars so that you would be careful with what you take in when someone is predicting the future. This is really a Five-Star book. He makes his predictions based on previous information, a lot of that gathered from the Great Depression of the 1930s. However, these are not the same times as the 1930s. We will have the potential for nuclear armament and world war. We have a lot more people on the planet which creates a greater possibility for much more violence and we seem more psycho today than previous generations. As wars break out, diseases and famines are produced. Drinkable water is also a big concern. If you're older in age, medical care comes into play. A lack of medicines available is pretty much likely. As this next crash unfolds, governments could become much more totalitarian and confiscate everybody's wealth. The economy system will probably turn out to be radically different from the one of today as no one is going to want to repeat this crash ever again. There is also the possibility that the United States may not be the best place to be when everything is crashing down. There are many factors working within and without that seeks for her destruction. World governments and people around the world will want to pin the blame on American consumerism.
I do have a complaint that alot of this is for people with alot of money. Not only with this book but with also other resources that I have. The dollar amounts they speak in is unbelievable to me. I only make $13 a hour - just enough to get by (things are high here) and just enough to survive. Surviving is really my only option. There is also the problem that there may not be any Internet for a vast amount of time (or only for government and defense) or a working phone system. If the bank that your money is in is very long-distance from where you are, you got a problem. It would be much safer if you're closer to your assets. The Great Depression is only appliable as a small scale model but I believe that this crash is going to be very different and for worse than the Great Depression of the 1930s. God help us all.

THis book is simply outstanding. A must read for anybody that cares about their financial future. Well written, super informative, and exciting reading.

The book was just what I expected. I had done some prior research on the topic, and the book confirmed my research efforts.

Please don't fool yourself. While I'm sure the guilt Mr. Aldrich feels for being born rich has been somewhat sated by his charming litte tome (might I mention the little known publishing house? I don't think the big boys would come anywhere near this book), I don't think it does much to change anything. I refuse to give credit to this man for "gracefully failing." If he were truly so civicly minded, I must ask, why has he not donated a vast majority of his fortune to charity? Why did he spend his career in publishing, and not in the non-profit area? He's the editor of a magazine on charity, for god's sake. Is there any more useless postion in the world? If this man were anyone else, this book would simply not have been published.

I have nothing against wealth. Who does? But the pure hubris that drips from parts of this book is just sickening. I do not like hypocrites. I leave you to draw your own conclusions.

Hint: you can skim the first and last two chapters and learn all you could ever want to know about the OLD RICH.

In a golden nutshell;

Old Money likes old schools, old clubs and old stuff.
Old Money likes other Old Money.
Old Money REALLY likes MONEY.
Old Money is bigoted (for the most part.)
Old Money is tradition and duty bound to serve the greater good, except when it's not.
Nelson Aldrich REALLY likes the word "invidious."

I'd only advise buying this book if you are SERIOUSLY interested in the subject. It's not a breezy, humorous read like (outsider) Paul Fussell's "Class." Aldrich doesn't write about what Old Money wears or what kind of cars it drives; he takes a microscope to what drives Old Money, while never betraying his class by revealing anything terribly unflattering that we didn't already know. And, he wants us to KNOW that he's no lightweight rich guy dilettante! Allors! M. Aldrich parle le Francais, ou bien, il a une bonne dictionnaire Francaise! Qu'importe? In English or in French, this is navel gazing at its most erudite.

The book is particularly enjoyable when he writes about recognizable figures; J.P. Morgan, Teddy and Franklin Roosevelt, JFK, Tommy Hitchcock, etc. Curiously, women do not figure prominently in Aldrich's Old Money enclave. Aldrich does eventually acknowledge Eleanor Roosevelt (quite well done), Jacqueline Kennedy Onassis and Doris Duke.

The last two chapters are the best. "The Prince and the People" and "Hemingway's Curse" sum things up nicely, explaining exactly why Old Money has painted itself into a jewel encrusted corner.

One complaint: the index could have been more concise. For example, Aldrich draws a clear distinction between patricians and aristocrats, two words often thought of as synonymous. Because of this, his definitions should appear in the index, yet Alrich's index is made up exclusively of proper names. This is odd for a esoteric book that puts forth so many hypotheses.

PS: After reading this, DO read Michael Gross' 740 Park. Gross tells Old Rich tales that Aldrich wouldn't touch. Reading 740 Park is like gobbling a gooey ice cream sundae after dutifully nibbling Alrich's hollandaise covered spinach.

The author of this book makes no excuses for his own wealth, nor for what he's done with his life of privilage. His ancestor who generated his inherited wealth was, basically, a crooked politician. His own achievements with his life of privilage have been pretty humble. He does give a spirited defence of an american WASP upper class which probably no longer really exists; it's hard to see the three character building trials (trial by school, the outdoors and combat) in modern wealthy folks. It's also hard to see the upper class having the privilages it used to: the NYT society section is hardly filled with the exploits of the Knickerbockers and Morgans any longer. It used to be, people like Mr. Aldrich ran the nation from the top; protecting their class interests in ways which are unimaginable today. Think, "robber barons;" -men in top hats who would give baksheesh to wastrels who would wait for them to drive by at the gates to their imperial factories or skyscrapers. Oh, his wealthy descendents still exist, but they simply are not important any more. More important are the class that makes up billionaires today; mostly new money and entertainers.

People should realize, he is talking about a very american group of people; the upper classes of other countries have nothing in common with them. I don't care if you're a Marxist or whatever; the american upper classes are different than Mexican or French ones. In fact, that's why you often find them in political alignment with the working classes (aka George Bush and the NASCAR set); they share a fundamental nationalism which the upper middle classes will never understand. America has in fact been very lucky with its plutocracy. They may start out pretty bad, but they mellow and work for the betterment of the nation after a few generations. Compare to the Russian upper classes at any point in history (or even the patricians of ancient Rome), and you'll see my point. One of the great fortunes of america has been that our upper classes are largely benign. It is a shame the folkways of this american social class have decayed with its confidence. The world could use another Teddy Roosevelt.

This entirely absurd treatise on the "nobility of old wealth" is the most ludicrous piece ever written by a fully deluded and perverse individual. He attempts to convince us that "Old Money" is somehow tied in with the betterment and refinement of culture, of artistic values and family mores and a sense of "community values". I scoff at the very idea that the "wealthy" are any more perceptive or beneficial than those he calls the "rabble" at the bottom rung, their sole difference is that they are insular, arrogant, unsound and can effectively manipulate the corrupt system in place in the social world. They live in a world of delusion, segregated from the perception of the common man and of their own finality.

Entirely avoiding any attachment with reality or historical manifestations, the author rambles on, endorsing us with his vision of the world as a "better place with wealth". He avoids the mitigation of corruption, political scheming, murderous exploitation of workers, and unethical urgency in the characteristics of the wealthy. Don't waste your time with this unless you want to laugh, pick up Karl Marx again, its a more enriching read. Long live the proletarian!

Lilly Walters has assembled a collection of terrific ways to create new income streams, get more bookings, generate publicity and more. The book is a series of short tips and ideas that got my brain popping. A quick perusal left my copy dotted with sticky notes marking pages containing ideas I can use now and in the future. I am currently working through the book, a section at a time, putting the tips into action.

Although absolute beginners may want more detail for some tips, wherever you are in your speaking career you will certainly find some gems to help you become a better, more successful (and profitable!) speaker. Beginners looking for more information should also read "Speak and Grow Rich" and other excellent books on building a speaking career.

I hate to say this since I have most of Lilly Walters' books and absolutely live by them in my consulting/speaking business, but this book held very few surprises or new ideas for me. For me, though, the best part and worth the price of the book was the Glossary of Terms. Totally invaluable.

A terrific read. Lilly has compiled a detailed list of tips and tricks that would be helpful to anyone in the communication game. Experienced speakers will certainly find something in this book for them. I know i did, all that is left to do now is to public speak my way to wealth.

This book is a major rip-off. Its title leads you to believe you'll get ideas that you can immediately put into action to generate relatively immediate sales. Allow me to quote some random examples:

#385: Focus your marketing efforts on those companies and industries that can afford to pay for your services.

#393: Market to your best bets first--those you are fairly sure will buy.

#766: Keep a map of your country and world map with time zones, zip codes, and telephone area codes.

#1189: Get it in writing.

She even includes a couple of tips on what to do if you receive a suspicious parcel -- a bomb, I presume.

The bomb is this book. Her tips are not about making more money. They're about walking and chewing gum at the same time. It's a great book for rank beginners. But she should change the title. The only reason why it gets any star at all is because Amazon won't allow us to give zero stars. I suppose she gets a star for good spelling.

This is probably the best book that I have ever read on getting rich. Reason: It gives you a clear plan. If you can achieve Level 1, as stated in the book, you are really more than half way there. Achieving level 1 is probably the most difficult accomplishment for most people. Other books give you a piece here and a piece there, this book gives you a good workable track. The plan takes discpline, tenacity and desire. If you have these qualities or can develop them with the help of this book you will achieve your desired goal - becoming wealthy

I purchased this book based on the reviews of other readers, and must admit I was very skeptical about it. But nothing ventured, nothing gained... This ventured really paid off.

I haven't even read the entire book at the time of this review, but I have to give it 5 stars. This book takes away the smoke & mirrors about investing, and the author's enthusiasm about investing in contagious.

I was a Suzie Orman fan and I'm sure she's a great person, but she comes off kind of arrogant: it's her way, or no way at all. Every couple of years Suzie has to repackage her advice into a new book. I've read most of her books: same song, maybe a different tune.

Larry's book straight plain English with no BS: here's what you need to do, displicine is needed if you're serious, stay way of these investments, when you reach these milestones here are the considerations needed, etc.

The book changed my outlook on investing. You don't need a full service broker. Buy this book, and forget paying commissions. A little research and you can just as good as the pros, provided you do your homework.

Great book. It emphasizes the importance of saving and then goes on the give good investing advise. A novice all the way to a sophisticated investor will learn a lot from this book. I bought 3 copies and am loaning them out to family and friends.

This book works! I bought the first edition years ago and just bought the 3rd edition as a gift for a freind. The advice works! It is written in clear language. The author does not try to intimidate the beginner. He is trying to make the reader feel confident that they can do this too!

This was my first investment book. Many more have followed but this one influenced my life the most. Great book!

This contains a lot of good advice about how to begin accumulating wealth and increase the same.

It has good information about investing in stocks, bonds, and mutual funds. It also has a lot of advice for those who are starting or building a business.

Although it is good, I think that there are other books on building wealth that are far better. I would particularly recommend 'The Total Money Makeover' by Dave Ramsey. It is written in a more user friendly style and has a great plan that is workable for virtually everyone.

My then girlfriend, now wife, bought me this book in 2002, shortly after I was laid off from my engineering job. I liked the investing theory of market momentum, but was unwilling to shell out big bucks for the software. Also, most mutual fund companies frown on the kind of frequent trading the system can dictate. Of course, there are always ETFs, and some companies, like ProFunds, don't care how much you trade.

I have a diversified portfolio, based on Modern Portfolio Theory, but instead of rebalancing once a year, I use the indicators in the book to decide when to sell the excess value of a winning fund, and when to buy enough shares of an underweight fund to bring it up to its target weight.

I almost never sell at the exact peak, but I generally take my profits before the fund tanks. And, I almost never buy at the exact bottom, but I generally get back to target weight before the fund starts a big run-up. So, I ultimately end up buying low(er) and selling high(er) than I would without his indicators.

I still don't have the software. I found a page on Morningstar.com that seems to work about as well as the software he recommends, and its free.

I really didn't pay much attention to the rest of the book, and don't subscribe to his newsletters, so I can't comment on them.

The information on the stock market and ratings companies was very useful.

However, the suggested method for switching money between mutual funds in your 401k doesn't work. It doesn't work because many mutual funds don't allow you to change between funds as frequently as the method recommended by Mr. Weiss. In fact, some mutual funds require you to keep money in the fund for a year.

I started to use the recommended procedure by Mr. Weiss but soon got a nasty gram from Fidelity telling me to stop.

A well written, well documented, critical review of investment strategies for those who wish to provide for and maintain wealth during preretirement years and beyond.
I find Dr. Weiss's analyses and advice to be practical and credible. Book was written in 2002; suggest follow up with his newsletter.

I actually purchased this book over three years ago but I still remember what Weiss wrote. How everyday people can save and become financially stable is what drove me and my wife to do the same. We do everything we can to save and only buy what we really need. Most of it really changed when we had kids. We stopped "treating" ourselves and really stuck to buying what our kids needed. To this day, I still subcribe to Martin Weiss' online periodicals as well. He may not be 100% (although no one is) but I believe in his philosophy and it actually does take some work on my part as well.

If you are going to look back and worry about big gains that you did not make, this may not be the book for you. If you hate losses, Martin Weiss could help you.