Anything about money could be true, or maybe not
593976
There were some personal situations in this true story that I could relate to as a pariah intellectual. When I was a kid, people were afraid I would grow up to have some kind of power that puts sands in the gears of slick sleight of hand. People who wanted to change anything confused me before I was able to come up with the stick that could beat them. If I enjoyed some upstick in this book, the tough guys were not getting whatever the goal of a social stick up had been planning.
1206162
This isn't the answer to every question in the universe.

In fact, it's just a stastical analysis of a handful of intriguing questions.

The author is masterful and his economics are bullet-proof.

Most of all, it's an interesting read that will either prove you right or wrong, but will do so rationally, and with thoroughly analyzed numbers to get it done.
3998999
I generally appreciate Steve Forbes writing and I am also generally a monetary conservative, so I expected to both like and agree with whatever this book said,and hopefully learn more about Money.

There are no new ideas here for anyone who has already heard the argument for a gold standard.

The book can be summed up with the single, often repeated idea (paraphrased) that "Money is a unit of measure like a ruler. You would not let the government frequently redefine the length of a foot because everyone would get confused if the unit of measure changed all the time. The government is continually redefining the value of a dollar and messing things up, so we need to peg it to gold to stop them."

While the metaphor of seeing a dollar as a unit for measuring value like you'd see a foot as a unit of measuring length, I think the comparison is a superficial one. Length is a physical property and value is subjective property. If I like comic books and you think they are dumb, then we can both agree that my Amazing Spider-man # 40 is 26cm tall, but it might have a value of 1 week's salary to me while having absolutely no value to you.

I agree that switching to a gold standard would likely make a currency more stable over the long term simply because it would prevent government from inflating the monetary base. Inflation, however, is not the only source of fluctuations in the value of a currency. Thought Experiment: What would happen to a gold standard currency if an efficient process was discovered for extracting the millions of tones of gold that are currently dissolved the worlds oceans? The value of the gold-backed currency would plummet. Forbes, does not even discuss issues like this- he takes it for granted that the value of gold is stable so anything tied to it will also be stable.

If you are looking for deep and thoughtful arguments for why we should switch to a gold standard, I do not think you will get much out of this book.
2609263
the info sounds great, and much of it is good. however, without real substantiation of results and earnings the book is just a good written story.  proceed with caution, it sounds so seductive... but as we all know "buyer beware". cause sometimes talk is cheap as the saying goes.

that said,  it is an interesting read
2200543
I came across Ron Paul a few years ago when I saw him talking on TV, most likely CNN (considering he is an "Austrian," it must have been during his presidential campaign). I cannot recall exactly what was discussed, but he caught my interest.

The book is about MONEY, the forbidden issue in (American) politics and the FED, the visible hand manipulating money supply and interest rates.

The author starts, among other things, with the discussion of the origin and nature of the FED. He then shares his conversations with two Fed chairmen (Greenspan and Bernanke). At the end he proceeds to present 4 different cases for ending the Fed (moral, constitutional, economic, and libertarian).

I agree with him that the MORAL case should suffice. Nobody should have the right to redistribute the wealth by inflating the money supply. ECONOMIC argument only makes the already strong case even stronger. Loose monetary policies of the Fed coupled with various governmental policies distorting credit markets even further are responsible for malinvestments, which lead to boom-bust cycles, with the boom part being phony, artificial and the bust part being painful, real.

There are many good books on money and credit (and central banking). Ron Paul's End the Fed is one of them. I think it is well written and worth the time. It should help you in your search for the answers to issues you may have long been wondering about, such as:

a) What is the true role of the FED (or any central bank for that matter)? Why do we have to have it?
b) Why is low inflation - in the "modern" (political) sense of the word, that is, rising prices - good, even desirable and why deflation - falling prices - is such a menace for economists (those close to politicians anyway)?
c) Why is inflation - by the "old" (nonpolitical) definition, that is, expansion of money supply (money production) - necessary?
d) Where are the free market forces behind interest rates?
e) Who exactly are the beneficiaries of the (fiat) paper money system?

The whole idea of (fully) ELASTIC money and one institution having monopoly on it must seem DUBIOUS to every intelligent layman.
546428
What is written in this book can indeed happen....no doubt about it and it is very worth the read to give a better understanding of what one will possibly do in case it does.
2692647
Pope Paul II writes convincingly that there is such a thing as Truth with a capital 'T'. In our Western society everything is said to be relative - what is "true" depends upon who you are and what the situation is. Not only here is an arguement for natural Truth that is absolute (no matter the person, place or time) but a gentle argument that draws the reader to at least consider such a thing. It is a thin book but what I call a "rich" book; it takes time to think about a page, a paragraph, even a sentence sometimes. But it is surely worth the time and effort to do so.
1873296
Face it, there's very little new under the trading sun, strategy-wise, but presumably there are always new investors making their way through an ever growing sea of media, advice, literature, and historical data in search of a solid system to guide them . Sure, plenty will always be searching for silver-bullet programs to achieve fast profits, but Pham is not speaking directly to such an audience, or I suspect he'd do his best to discourage such quixotic thinking.

I'd regard Pham's approach as a sensible extrapolation and refinement of known quant techniques pertaining to price and volume.  The most important ever-obvious-but-so-hard-to-swallow idea he shares is we should abandon the notion that market behavior can in any sense be predicted.

Rather Pham believes markets can best be viewed as interconnected streams of probabilities rather than a treasure map of hidden absolute predictors.

For example, Pham regards the chart pattern matching of technical analysis as a distraction that can fool us into believing we see and know more than we do - an interesting idea he calls `multistability' that explains our response to optical illusions. It's no surprise the resulting false confidence can frequently cost us money.  While fundamental analysis may reveal what fueled past growth honest practitioners will concede it's in no way a firm predictor of future growth.

Pham's approach can be summed up as stripping out as much data noise as possible and focusing on a small set of probabilities and trade setups. Trends and ranges involve interpretation and, like all interpretation, they include the potential for error and multiple viewpoints. Prices and volume are facts and, in the end, the only certainty we have as traders to base our actions upon.

He regards the four known price points (high, low, open, close) as what really matter, particularly opening range that he describes as `a slice of price, not a slice of time' and a source of `high probability trending moves'. He focuses on building a set of small quantitative tools (formula) he believes are more useful than the multicolored dashboards of charts, screens, monitors, and calculators many firms use to appeal to potential clients.

The writing style is refreshing clear-headed and dialed-down emotionally - as Pham believes our trading actions should be. There's none of the faux street guy toughness and macho posing I've read in other trading books - an attitude that often masks unimaginative takes on well-worn trading strategies that can have you looking like a genius, 'part of the time under certain market conditions'.  Nor is Pham trying to sell you on subscribing to his website or newsletter.

I appreciated the author's candor when he says the book isn't just for those who want to trade themselves, but should serve as a guide to communicate with the person actively managing your money.

Remove emotion, unfounded perceptions, and interpretive ambiguity from your trading actions. Simple, but far from simplistic, and requiring a discipline of mind and emotion.

`The Big Trade' will appeal to people with some investing experience who are serious about committing time and resources to tailoring a trading system that works for them - and are put off by so much of the high-energy advice/entertainment industry that's grown up around the markets.
4406120
When I agreed to review Lorilee Craker's newest book, Money Secrets of the Amish, I confess my motives were tainted. Truth, I am in between jobs and can use all the money saving tips I can muster; truer, I've got a lot of time on my hands and am close to going postal. Truth, the Amish have always intrigued me in the same way one wants to look away from an automobile accident but finds oneself unable to look away; truer, I'm a sucker for anything with the word "Secrets" in the title. Truth, chapter one had me regretting offering to review Craker's book; truer, chapters two through fourteen made me glad I did.

My fear approaching each chapter was that Craker was going to suggest becoming backward, cheap, out-of-date, and weird with her Amish secrets. If I had wanted to go to bed at sunset, miss reruns of The Rockford Files, or trade my Dodge Ram in for a horse and buggy, of course I could live on less money while at the same time running off friends, giving family gossip for the next reunion, and standing out like a sore thumb amidst coworkers. But as I said earlier, I'm in between jobs right now so I decided to chance it.

Surprisingly, I was able to separate the Amish influences from the concrete, common sense principles Craker puts forth for "finding true abundance in simplicity, sharing, and saving." I especially appreciated several things about Craker's approach to spending, saving, and stuff.

The book is chock full of hard numbers that, while probably different from your numbers, nevertheless, provide some reality to the principles. For example, did you know that a daily Monday-Friday $3 latte costs you $720 a year? While shocking in and of itself, I'm left scratching my head as to where to find a $3 latte!?

Another benefit of the book is the plethora of pithy, and admittedly somewhat corny, sayings designed to help you remember the principles. For instance, the first principle is the acronym, UWMW, which stands for "Use it up, wear it out, make do, or do without." Granted, while it might not become as commonplace as GIGO, KISS, or 80/20, it has yet to leave my head since reading it last night.

Craker also does her best to dispel several money saving myths, not the least of which is American's fascination with buying in bulk. Since living with my parent's the past few months, I've noticed my dad has single-handedly perfected this myth, thanks to his Sam's Club membership. Indonesia might produce 40% of the world's cinnamon, but 38.4% of that is stored in my dad's kitchen; along with 79.1% of the world's supply of toilet paper, 6,289 breakfast bars, and 184 gallons of clover honey. Thanks, Sam.

Suffice to say, unless you're inherently wealthy, you need to not only read but do, practice, apply, and live this book. And if you are inherently wealthy, you still should read this book because the current government administration is hell bent on ensuring you won't stay that way.
1890889
Amir D. Aczel, Chance: A Guide to Gambling, Love, the Stock Market, and Just About Everything Else (Thunder's Mouth Press, 2004)

Chance. If you play poker, the ponies, the market, you're well acquainted with it. Or, if you don't, consider the truism that you risk your life every morning when you walk out of your house. What are your chances of getting struck by a bus? Or by lightning? How about that you'll get mugged? Or find a hundred-dollar bill in the gutter? No, Amir Aczel won't actually tell you the probabilities of these things happening, but reading this will likely make you think a lot more about such things.

Chance covers a lot of the same ground as Clio Cresswell's Mathematics and Sex, but from a more, shall we say, platonic viewpoint. If you've read one, you're going to be seeing a lot of familiar stuff, but some things don't overlap, so both are well worth your time. Recommended. ***
3423108
If something seems to be too good to be true, then it probably is. Paul, a top theoretical physicist, was lonely, and as many people do, he registered on a dating site. Someone, pretending to be a glamorous model, played him like a fish over a considerable time, and eventually hauled him in. He was arrested in Argentina with drugs in a suitcase hed been tricked to have in his possession. So, an elderly man with a serious health complaint found himself in jail.

This could have wrecked his life, but instead his reaction was quite similar to that of Viktor Frankl (who was admittedly in a far worse situation, as a slave laborer of the Nazis). Both these men were determined to survive, to do their best in adverse circumstances, to grow from the experience, and to cope with the worst through the paradox of acceptance of reality while doing their best to change it.

The writing is very clear and vivid, with just the right amount of detail to bring scenes to life, and not a word more. This is a wise man, telling a horrific story of his life, with perfect calmness and acceptance. True wisdom is to admit your mistakes, learn from them -- and have to compassion and decency to enable others to learn from them. Ive seen online comments about Paul being stupid. Certain of his choices were, but thats no reflection on him as a person. He was nave, trusting, lacked knowledge about the worst sides of human nature, but none of this reflects on his intelligence or character. He has used his suffering as a way of gaining wisdom, and doing a public service -- and this is what he should be judged on.

I find it incredible that during nine months in prison, with a roomful of sometimes violent drug users, he was able to carry on his research, and wrote three scholarly papers that were accepted for publication. This is the resilience of the human spirit.

There has been quite a circus about Pauls case, as a simple internet search will show. Obviously, part of his reason for writing this little book is to clear his name, to present his point of view. But also he writes, What an unhappy business, that criminally cynical people will prey on the loneliness of others (p 29). He wants to use his unwanted notoriety to protect others from a similar fate.

When my review copy arrived, I was partway through a crime novel that is vaunted as something you cant put down. Well, I could. I found Pauls true life account to be better written and more fascinating. Do yourself a favor and read it.
1627063
Virtual Billions is a well written and entertaining book, s very unusual one at that, which delves into the history of....nearly  everything.  It is organized in a highly unusual, but very readable, and, in a sense, natural way.  As can get a quick and dirty history of bit coin, or you can read further and get more information on its' history and mechanics, or you can read further and learn something about the history of the Byzantine Empire and long cons, as well as the underpinning of industrialization.

Eric Geissinger writes in a very engaging style, making what might otherwise be a dry, even technocratic history into a wild and entertaining story, or series of stories. (Should I refer to the linked stories as block chain?  Probably not ;)

If you have any interest in learning about Bitcoin, there is something for everyone here.  You can acquire  a basic understanding of virtual or fiat currency, it's historical precedents, or go further to develop an understanding of the level of sophistication of both ideas and programming behind bitcoin.  If you are not completely confident, he will show you a lot of examples of currencies based on little of substance and requiring no small amount of faith, like the US dolar since the gold standard was dropped.

I am still not sure that I am 100% convinced, as this is a fiat currency which was never tied to anything of substance, though I fear that any answer to "from whence was this value created?" might sound a good deal like the answers I get when I ask a good friend, a physics professor at a large University, what the Universe is expanding into?  In fact, the answers might be remarkably similar ;)

I, myself, am not even a "bitcoin newbie,"  having never engaged the currency in any way but for reading this book and watching a film about it.  (I do, however, have a kid who was clever enough to mine a small handful of bitcoins in the days when virtually no one had heard of it, and more clever still, has held onto them).  That, however, did not take a lot of faith.  It cost her exactly nothing, except time away from her homework.

The market does seem to have somehow established value and a measure of stability but, call me a luddite, I am still wondering where that germ of value came from, for myself a more essential question than who Satoshi is.

I believe that this book would be most interesting and valuable to those who are comparatively unfamiliar with Bitcoin, though I do believe that it is a book which nearly everyone can enjoy, and learn something from.  How often can you say that?

I very much enjoyed reading it, have a better understanding of Bitcoin, and the Roman Empire, and long cons.  At present I am investing in my kids educations, at places where they prefer a different kind of fiat currency: checks or credit cards, or even wire transfers, and probably do not have any bitcoins in my immediate future, but.. you never know..
1675835
Tony Williams's assertion that his great ancestor John Williams IS (not maybe) the infamous Whitechapel murderer of 1888 is clearly an exciting premise. It is a fresh angle that brings a new suspect into the already cluttered equation.

However, having bought the book after watching the author on a television show I felt slightly conned that I actually spent money on something that has no values what-so-ever (unless tarnishing the reputation of a long deceased relative is considered a `value').

There is NOT ONE piece of REAL evidence against John Williams being Jack the Ripper, and the circumstantial evidence (`maybe', `if' ,`could have') seems to be the main substance.

The only noticeable piece of evidence is a knife found in a box in John Williams's posessions (gee whizz - a doc with a surgeons knife, whatevernext?) and a couple of slides containing `animal matter.'

The fact that John Williams lived for over 30 years since the Ripper's reign of terror is enough in itself to conclude that he wasn't our man (could a maniac like that suddenly stop? History tells us more than not that they cannot of their own free will).

There is also the alarming notion that the most important piece of evidence maybe a forgery, or has been modified (there are TWO different versions of the SAME document - the one that links Williams to Mary Anne Nichols).

In the end though, it is all rather irrelevant anyway, even if it hadn't been altered it doesn't change the fact that the book, though well written, has little value to either Ripperologists or new-comers to the grisly crimes of Victorian London.
541901
Some good material regarding financial matters, which provided the reader an opportunity to question more profoundly, beliefs and value passed down from family.
3478547
In some cases, I think they go beyond the numbers, but in many cases, I do believe this is pretty legitimate.  How can a mathematician help the FBI?  A pair of brothers can show how it can work.
4880660
Mr. Kiyoski's book has been a staple of the bestseller lists for a long time now.  This is what prompted me to read his book, thinking something must be good.
I am not sure of Mr. Kiyoski's premise is real or not, but his "dad" is a man who is the father of one of his friends who is wealthy.  "Dad" spends all of his time giving his son and Mr. Kiyoski important financial lessons.
The lessons in this book are so simple, it is almost amazing that this book was published.  Many of the lessons are similar to "in order to be wealthy, you have to save more money than you spend."
Conversely, Kiyoski does a good job of breaking down the fundamental principles of Finance for those who are not familiar with the subject.  In this sense, it is a good start, but I would not read this book expecting any earth shattering financial revelations.
I really wish that my dad would have told me that I could turn one book into a series, workbooks, informercials, and seminars.  Congratulations to Mr. Kiyoski for being successful for repackaging the same financial information that we have heard for years.
3944351
It's an old saw that "money makes the world go round," and many of us seem to believe that if we just had a bit more of it, we could make our worlds go round more smoothly. There are plenty of books out there about saving, about financial planning and responsibility, about how to squeeze the most possible use out of every dollar and cent.

Laura Vanderkam's "All the Money in the World" quietly challenges the logic behind such books and such plans. Perhaps one of the most common beliefs about money is that there is never enough of it, but Vanderkam suggests that we move away from this "attitude of scarcity" to reappraise what money really is and what it can do for us.

Stephen Colbert once encouraged his viewers to remember that "money can't buy happiness--but it can buy the things that make you happy." He was being facetious, but this is essentially Vanderkam's point in a nutshell: if we see money not as something with its own, intrinsic value, something to be collected, but as a tool we can use to increase our happiness and that of others, our attitude towards the getting and using of money might change.

Studies have shown that, after essential needs (such as shelter, food, and water) are met, the amount of money people possess has surprisingly little impact on their long-term happiness. Therefore, Vanderkam argues, we should be less focused on accumulating cash and should try to wring happiness out of every dollar, rather than judging by some more narrow form of economic value.

This doesn't mean Vanderkam is against the getting of money as such. Indeed, contrary to a certain amount of received wisdom, Vanderkam says that cutting out little pleasures (like latts) is not the most effective way to add more money to your life. (Think about the percentage of income a coffee habit normally represents, as opposed to, say, house and car payments.) Instead, she advocates trying to make more money (by seeking more work, a promotion, or other forms of additional income). She also suggests reformulating our financial priorities--for example, taking the thousands of dollars the average couple spends on an engagement or wedding ring and reappropriating it for a series of small trips or other activities the couple will get more pleasure from than wearing a big rock.

The rest of the book essentially expands on these themes: people tend to think of enjoyment as something inherently expensive, but many of our little joys turn out to cost only a few thousand or even a few hundred dollars. And people tend to think of a few thousand (or even a few hundred) dollars as a lot of money, yet Vanderkam points out many ways in which we willingly, even unthinkingly, spend such sums on a routine basis; becoming aware of these spending habits and perhaps changing them can free up cash for our hobbies or passions. In a word, Vanderkam wants to shift the frame of reference from our money to ourselves.

This kind of attitude change is surely easier to talk about than to put into practice, in that it requires a fair amount of thoughtful reflection and self-knowledge, but "All the Money" is full of anecdotes and practical pointers that make the whole project seem doable. (I suspect a healthy sense that you can't take it with you is also a big factor, and achieving that may be a separate issue.) Vanderkam's point is not that we can all become part of the "one percent," but that the whole fixation on income bracket is somewhat misguided. People want to be happy, and money is a vital means toward that end. More importantly, it turns out you don't have to have all the money in the world--you just have to look at what you have the right way.

~