Modern Management
Average customer rating: 4 out of 5 stars
  • Bad Costumer Care
  • Fast Service, Great Quality
  • Great!!
  • The "Foundation" of Knowledge For Successful Management
  • good starter book for new mangers and students in business
Modern Management
Samuel C. Certo , and S. Trevis Certo
Manufacturer: Prentice Hall
ProductGroup: Book
Binding: Paperback

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ASIN: 0131494708

Book Description

This book provides a comprehensive, flexible approach to the basic skills of business management with an emphasis on skills and applications. It presents traditional concepts, important contemporary issues, and timeless insights into applying management know-how–all toward the goal of achieving organizational success. Built around the concept of “Core Plus” — a core of chapters covered in most courses, surrounded by a rich selection of optional chapters — enabling flexibility in the way the text is used. Management History, Operations Management, Information Technology in Management, and Creativity and Innovation in Management. For managers at all levels.

Customer Reviews:

1 out of 5 stars Bad Costumer Care.......2007-03-11

Sell Sell Sell. That's what they really want only!!! ... I needed my book faster. I sent an email right before ordered it, saying that I wanted something faster, or I needed to cancel. Of course it was my fault of not seeing that they were from Europe, it was going to take 2 weeks but, there was no understanding AT ALL. Never buying with them anymore!!!

5 out of 5 stars Fast Service, Great Quality.......2005-10-03

The book wsa in the exact condition the seller listed it at, which was close to perfect. It was delivered fast, no problems at all.

5 out of 5 stars Great!!.......2005-09-17

The book was in excellent conditions also I got it before the estimaded date.

5 out of 5 stars The "Foundation" of Knowledge For Successful Management.......2001-06-24

This book is one of the best foundation establishers I've read. I am the Chief of Strategy for a major headquarters and currently teach for three universities in such subjects as Strategic Management, Business Policy and Strategy, Business Communications, Supply Chain Management, and Production Operations Management. The point of that statement is that this book that I use on the job, as well as, to some degree in each course I teach. It is well written, organized, and provides outstanding tables and figures to clearly articulate the concepts. This is a desk-reference that will get lot's of handling. A must read!

4 out of 5 stars good starter book for new mangers and students in business.......1999-07-22

author has good grasp of management in 21 century. What tools and skills will be needed
Modern Database Management (8th Edition)
Average customer rating: 4 out of 5 stars
  • Good content overall
  • Very practical.
  • IT'S POORLY ORGANIZED AND DIFFICULT TO FOLLOW; NOT INTRO BK
  • Explains in Depth, important Info
  • Very Useful
Modern Database Management (8th Edition)
Jeffrey A. Hoffer , Mary Prescott , and Fred McFadden
Manufacturer: Prentice Hall
ProductGroup: Book
Binding: Hardcover

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ASIN: 0132212110

Book Description

Modern Database Management is the leading text in the business database market. It's noted for its focus on the latest principles, concepts and technologies and what leading practitioners say is most important for database developers.

Customer Reviews:

5 out of 5 stars Good content overall.......2005-05-13

I used this book in graduate school while taking the Database Management System course. The book has usefull information. It help me understand and practice normalization. Some unfamiliar concepts also were learnt from the book. I can recommend this book to anyone getting into the database world.

4 out of 5 stars Very practical........2004-04-26

Indeed, a brilliant rendition of practical information. I am currently working as a chief technical designer in a financial data warehouse project for a fortune 100 company. Chapter 11 (Data Warehousing) unfolded some time-critical points.

1 out of 5 stars IT'S POORLY ORGANIZED AND DIFFICULT TO FOLLOW; NOT INTRO BK.......2003-07-20

This is a required textbook for an Intro to DB course. Once again, the University of Texas at Dallas has followed a constant pattern of requiring textbooks that are 1) Poorly organized/written books, 2) expensive and 3)The professor haven't read the book themselves AND are not using/following a required book when teaching their course! This said, my review of this book.

IT'S POORLY ORGANIZED AND DIFFICULT TO FOLLOW; NOT AN INTRO DB BOOK!

For example: "Relational Database" - The book begin this topic on "PAGE 11", but does not define nor clearly explain what this is; the book glorify how "...preliminary studies convinced management of the potential advantage of this approach...modern company should implement..." Then, it talks about "Implementing the Relational Database." Ok, but what the f**k is a Relational database! This continues on until finally at "PAGE 259" when it FINALLY defines what this is.

Good luck!

5 out of 5 stars Explains in Depth, important Info.......2003-07-17

Much like Hoffer's other book, which focuses on an earlier stage in the Sys. Devel. Life Cycle (Analysis & Design), this is the next book in "the series".
This book goes over some of the fundamental concepts of modeling and relationship diagramming which were covered in the previous book. However, it picks up where the other left off and explain in-depth Database creation maintainence, and so on to a point where most can understand, and all can benefit from. Another good job from these strong Authors

5 out of 5 stars Very Useful.......2003-06-19

I bought this book for my database class and I found this book to be very useful. If this is your area of study, I would suggest keeping the book as a reference guide. I regret selling mine to a friend, as there were plenty of times where I thought I could refer back to it in other courses and projects.
Modern Industrial Organization (4th Edition) (Addison-Wesley Series in Economics)
Average customer rating: 4 out of 5 stars
  • Great condish but no quick ship
  • Great book : Easy to follow and practical
  • Its in my top 2 textbooks for Economics Undergraduate
  • Modern Industrial Organization
  • easy book and good guide to understand the industry
Modern Industrial Organization (4th Edition) (Addison-Wesley Series in Economics)
Dennis W. Carlton , and Jeffrey M. Perloff
Manufacturer: Addison Wesley
ProductGroup: Book
Binding: Hardcover

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ASIN: 0321180232

Customer Reviews:

4 out of 5 stars Great condish but no quick ship.......2005-09-30

See above. Took longer to arrive than I would have liked. Maybe 2 weeks.

5 out of 5 stars Great book : Easy to follow and practical.......2005-01-27

I have the 2000 edition, I like it very much. Practical, easy to follow, great use of Theory of Games exemples.
Douglas Gilson, Management professor.Rio de janeiro, Brasil

4 out of 5 stars Its in my top 2 textbooks for Economics Undergraduate.......2004-12-22

I've only used 9 textbooks in my undergraduate carrer in Economics, however, this book would probably fit either as the best or 2nd best... I can't really determine which deserves the "coveted" "best" slot.

To say firstly, this book passes the "I havn't attended class for the last 4 weeks and only have read the book, but still recieved an A- for the midterm" test. I think I can say in full confidence that IO is pretty much a standard course and this pretty much covers all the standard topics that any IO course would cover in one semester.

I used this book for a more "advanced" IO course (there are 2 in my university) and I used the book almost exclusively in preperation for my exams. I can say that the books appendices are excellent, despite th previous comment. It displays the material very concisely and in a very formal manner. The presentation in the appendices is not laconic and is very understandable.... I would have to say it achieves almost maximum effeciency with relevent material per page.

Actaully, for my case, the appendices were very much more useful then the actaul text itself. The level of mathematics does not exceed a standard non-formal multi-variable calculus level and is thus very accesible. With regards to applicability of the material, I found no problems in figuring out how the forumale applied with respect to the theory for the most part... However, I suspect if it is obtuse (for the level of maturity in the class) then the instructor would augment the text with problem sets and excercises.

The book starts off with a brief recap of the relevnt micro concepts and tools in the first chapter or so, then goes on to cover topics such as monopoly, oligopoly, monopolistic competition, games in oligopolies (Bertrand, Stakelberg Cournout-Nash etc.). Then it goes on to less "theoretical" (at least in my opinion) topics such as advertising and its effects, price discrimination (1st degree, 3rd degree, bundling strategies etc.).

Overall there is a good mix of "real world" applications and core theory. I never read the numerous examples and unless the class specifically tests on these, I would think they are not needed for understanding of the material. The exposition found in the chapters (less the examples) are usually superb, although a bit wordy for my taste.

There are some problems asked after the end of each chapter, although very few of these employ much mathematics and hence, does not, in my opinion, work well as a gauge of understanding. It seems because of the length of the book, it lends itself off to the instructor to decide how to taylor his curriculum, I don't believe that any chapters are redundent, but I believe all chapters are essentially self contained (given that the reader had read or is competent in the material up to the 6th chapter).

All in all, I was happy with this book and believe it to be of superior stock, although this is pure conjecture on my part since I've only used this book and have only taken one IO course. With respect to flexibility the book deserves good marks and this is likewise true with respect to the exposition in the text.

3 out of 5 stars Modern Industrial Organization.......2003-05-01

I was hoping to get a more indept explaination with example problems. Formulas were shown, but the author never really showed how to utilize the formulas. I have had to reference other books to try to understand this book.

5 out of 5 stars easy book and good guide to understand the industry.......2000-08-24

For me this book is a very good guide to the people that like to learn more about the way that the industry and the market works and the link to many things that you can see all the time around you and could explain by the economic theory, things that happend not only in United States also in different countries like Chile. Only bad thing about the book is the colors in the graphs, maybe the next time could include more colors. And if is possible try to translate the book to another language like spanish, because about this topic in spanish is very poor the number of books, and the translation could bring the opportunity to more people to read about this.
Modern Systems Analysis and Design (4th Edition) (World Student)
Average customer rating: 3.5 out of 5 stars
  • "Just the facts ma'am"
  • Expect a textbook, not a real "how to" lesson
  • It's OK
  • Extremely thorough treatment of Systems Analysis...
  • Good S.A.D Book
Modern Systems Analysis and Design (4th Edition) (World Student)
Jeffrey A. Hoffer , Joey F. George , and Joseph S. Valacich
Manufacturer: Prentice Hall
ProductGroup: Book
Binding: Hardcover

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ASIN: 0131454617

Book Description

Complex, challenging, and stimulating, this book addresses information system analysis and design;; it is full of information that shows the organizational process that a team of business and systems professionals use to develop and maintain computer-based information systems. It stresses the importance of responding to and anticipating problems through innovative uses of information technology. The book provides an excellent foundation for systems development, then goes on to making the business case, analysis, design, implementation and maintenance. For future systems analysts, or for those information technology that need a great resource for implementing new ideas and strategies for success.

Customer Reviews:

3 out of 5 stars "Just the facts ma'am".......2007-09-12

This book is a difficult read. Most writers infuse something of a personality into their writing, even a textbook. I read a lot of books, mostly non-fiction (programming books, networking books) with some fiction thrown in here and there. The authors may know about the subject and clearly they do, but I found myself reading the text in a monitone voice and my eyes glazing over every couple of sentences. Thats because each sentence is just another fact, freeze dried and stuck next to another fact and eventually you get a very wordy paragraph. Add them all together and you get pages and pages of facts.

I felt like someone took a vacuum and sucked out all of the life out of the text. Seriously, I was tempted to look at the preface to see if the authors added the instructions to "just add water before reading". It really is that dry.

If that is your reading style, then this book is for you. I couldn't read more than a couple of pages before having to take a break.

4 out of 5 stars Expect a textbook, not a real "how to" lesson.......2007-01-26

I used this book for an online course and I really felt like I was slogging through it. Obviously it's a textbook, but there are probably books out there that get to the point in fewer words. Most chapters are 30-50 pages long, and though some of the examples are helpful, overall the impact of the material is lost in paragraphs that never end. I would say if you aren't in a course that is using this text as a supplement, buy something else. The examples aren't good enough to give you a sense of database structure or systems diagrams without some real world comparison.

3 out of 5 stars It's OK.......2006-03-03

The data itself is fine. It does explain the information in an understandable way.

Unfortunately, the font is tiny to make up for the large parts of information in the margins. Also, there is a slight shine to the paper itself which gives a glare when reading the text.

4 out of 5 stars Extremely thorough treatment of Systems Analysis..........2005-07-13

This summer, I took a class in which we read this entire book. Yes, all 600+ pages of text (thankfully we weren't tested on the index). This HUGE book presents a very thorough treament of the Systems Development Life Cycle and the profession of Systems Analysis. From Project Planning to System Maintenance, hardly a detail gets shunned.

The book overall emphasizes the traditional SDLC, but weaves in some discussion of newer methodologies such as: Extreme Programming, Object Oriented design, CASE tools, and other agile methodologies. And if anyone wants to know what a Systems Analyst does day to day on the job, Appendix 1 spells it out pretty thoroughly. Anyone thinking of becoming a Systems Analyst should at least read this appendix, if not the entire book.

The book doesn't emphasize customer service to a great degree. As a working Systems Analyst, I find that customer service skills come in handy every single day. Appendix 1 does mention this skill, but not in an overly detailed manner. Information Systems in general deemphasizes the customer side of things ("User error!!!" still gets mockingly shouted across many help desks and support centers), which accounts for some of the problems that the industry as a whole faces (sometimes we're a little too easy to outsource). So a little more on the importance of customer service might have improved the book.

In the end, this book is a textbook. The going gets rough in many places as details pile upon details. But to understand some of the complexities of system development, a detailed approach probably represents the best way to go. So if you're looking for pleasure reading, look elsewhere. But if you want a detailed, granular, sometimes heady, complex treatment of the analysis side of Systems Development, this book offers more than you'll need for the traditional approach to the SDLC. Those looking for details on XP or OOP should look elsewhere.

5 out of 5 stars Good S.A.D Book.......2005-05-13

I used this book to learn system analysis and design while taking graduate course. The book is well-written and the layout is pretty good. The authors broke down the information in such way you can understand easily. The book also has some exercises that help you practice what you learn. I kept the book and plan to use it a reference. I will recommend it if you are serious about learning System Analysis and Design.

The Closing of the American Mind
Average customer rating: 4 out of 5 stars
  • The value of a liberal education.
  • Necessary Questions
  • See Evan Sayet's analysis...
  • Nice Intro...
  • An analysis of historical importance
The Closing of the American Mind
Allan Bloom
Manufacturer: Simon & Schuster
ProductGroup: Book
Binding: Paperback

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ASIN: 0671657151

Book Description

The Closing of the American Mind, a publishing phenomenon in hardcover, is now a paperback literary event. In this acclaimed number one national best-seller, one of our country's most distinguished political philosophers argues that the social/political crisis of 20th-century America is really an intellectual crisis. Allan Bloom's sweeping analysis is essential to understanding America today. It has fired the imagination of a public ripe for change.

Customer Reviews:

5 out of 5 stars The value of a liberal education........2007-07-08

"Men may live more truly and fully in reading Plato and Shakespeare than at any other time, because they are participating in essential being and are forgetting their accidental lives. The fact that this kind of humanity exists or existed, and that we can somehow still touch it with the tips of our outstretched fingers, makes our imperfect humanity, which we can no longer bear, tolerable. The books in their objective beauty are still there, and we must help protect and cultivate the delicate tendrils reaching out toward them through the unfriendly soil of students' souls. Human nature, it seems, remains the same in our altered circumstances because we still face the same problems, if in different guises, and have the distinctively human need to solve them, even though our awareness and forces have become enfeebled" (p. 380).

Allan Bloom (1930-1992) was a professor of philosophy and political science at the University of Chicago, and the subject of Saul Bellow's final novel, Ravelstein (2000). In his bestselling book, The Closing of the American Mind (1987), Professor Bloom draws from his training as a philosophical thinker and his long career as a teacher to describe "how higher education has failed democracy and impoverished the souls of today's students."

Summarizing Bloom's book in a short review is no easy task. He believes in "the good old Great Books approach" to education, and observes how students, in a culture of movies and rock music, have "lost the practice of and the taste for reading." He not only believes the high incidence of divorce has left students less critical in their thinking, but argues their lax sexual mores deprive students of what Plato described as the "erotic" element in education--the element of excitement, mystery, and longing inherent to a liberal education. Bloom believes the "openness" of cultural relativism--the practice of valuing the opinion of each person equally--undermines critical thinking with indifference, devalues the study of languages, philosophy, and science, and deprives students from searching for the truth that leads to a higher life. In his book, Bloom is concerned with nothing less than "the state of our souls."

Professor Bloom's argument is carefully reasoned, and reveals a great mind at work. The Closing of the American Mind is truly profound. Although it was published twenty years ago, it remains relevant nonetheless and should be considered essential reading in understanding the value of a liberal education in our society.

G. Merritt

4 out of 5 stars Necessary Questions.......2007-05-22

This was the most difficult fun and knowledge seeking free time reading I have done in years. At times Dr. Bloom was speaking to me, freely articulating my own disappointment with the academy. His comments about the free fall of traditional inquiry and the current status of the social sciences and humanities was piercing. Since I was born in the 50s, the transformations he spoke of that became so apparent to him in the 80s were experienced in the public school and university careers of those of us born in the first decade or so after WWII.

In spite of the delight in reading Dr. Bloom's astute observations of those years, in no time, the next pages would lose and confuse me, forcing a re-read and consultation of other sources. Ironically, this exemplified the point he was making since those areas had to do with philosophy. (Plato is next.) Nonetheless, this is a marvelous work of incredible intellectual depth by a very scholarly man who was aware, and somewhat saddened, by the trends of his times.

The book is long, requires real dedication, but in my opinion it was well worth the read. The first two thirds of the book seem as if they are not related to one another, but then, by the last part, especially the chapter The Sixties, all the detail about the German School, Marcuse, Plato, converge. Although the 60s seemed groundbreaking and exciting to the youth of its time (including me), Bloom ventures to state, quite convincingly, that it was void of intellectual gravitas due a highly stylized, yet simplistic view of its philosophical and historical context.

Dr. Bloom also greatly delves into the role of the university and his founded fears of the compromise of the special status of inquiry in the academy being wedded to popular culture and politics. He repeatedly asserts that there's a lack of support, in his experience even among some professors, to uphold the bigger questions of existence, philosophy, religion, science, culture - what have you - that transcend popular culture and politics.

On the topic of politics, one might be tempted to state that Dr. Bloom took sides, and that his opus has left-right implications. It may have appeared a bit critical of what is commonly thought of as the left, but the notion of being "progressive", of throwing off tradition, of being less discriminate about what is good or evil, ugly or beautiful, right or wrong, tends to be the territory of the modern left. I never felt he was simply being opinionated, but that he just attributed his assessment of the late 20th century academia to certain movements and philosophies that permeated many areas of the university. Dr. Bloom greatly laments what the university has become because he clearly loved the institution and believed it was indispensable to the knowledge and mysteries of mankind.

5 out of 5 stars See Evan Sayet's analysis..........2007-05-19

Evan says that Prof Bloom's book influenced him, but Evan has expanded on the reasons why Modern Liberals act like they do.

I recommend everyone watch Evan's talk.

You can find it at YouTube by searching on "Evan Sayet". Choose "How Modern Liberals Think". It's phenomenal.

2 out of 5 stars Nice Intro..........2007-04-24

The best part about this book was the intro. In fact all you need to understand what the late Mr. Bloom was trying to put forth is in the introduction.

The rest of the book is a chore to read. The confusing and tedious writing style leads to a lot of re-reading of sentences to figure out the point the author is trying to make. Someone should have counseled Mr. Bloom that "Brevity is the soul of wit."

5 out of 5 stars An analysis of historical importance.......2007-03-26

This is a truly outstanding analysis of what went wrong with America in our generation, and how the erosion of our freedom accompanies the decomposition of our culture.

That said, let's get the other editorial reviews off the back page and up front where folks can see them:

The New York Times Book Review:
An unparalleled reflection on today's intellectual and moral climate....That rarest of documents, a genuinely profound book.

The New York Times:
Remarkable....hits with the approximate force and effect of electroshock therapy.

The Wall Street Journal, William Kristol:
Brilliant....No other book combines such shrewd insights into our current state....No other book is at once so lively and so deep, so witty and so thoughtful, so outrageous and so sensible, so amusing and so chilling....An extraordinary book.

The Washington Post Book World, S. Frederick Starr:
Rich and absorbing....A grand tour of the American mind.
.
Modern Labor Economics: Theory and Public Policy (8th Edition)
Average customer rating: 3.5 out of 5 stars
  • Nice book
  • A very interesting textbook about labor economics
  • A helpful and informative book
  • This book is too wordy, puts you to sleep
Modern Labor Economics: Theory and Public Policy (8th Edition)
Ronald G. Ehrenberg , and Robert S. Smith
Manufacturer: Addison Wesley
ProductGroup: Book
Binding: Hardcover

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ASIN: 0201785773

Customer Reviews:

4 out of 5 stars Nice book .......2005-09-09

almost the same as the newer addition , has all the things you ned to know about labor economics

5 out of 5 stars A very interesting textbook about labor economics.......2002-08-07

I was a teaching assistant in a labor economics undergraduate course in Northwestern University that used this book. I found it very interesting and full of real-world examples and discussions. The mathematical level is simple and therefore the book is accessible also to students with only little background in mathematics or economics. The exposition is clear. About half of the problems and the review questions are solved at the end of the book, making it possible for the reader to practice and test her understanding of the material. I believe that most students can understand most of the material in the book even without taking a formal course in labor economics, and therefore I recommend it to anyone who is interested in the functioning of labor markets.

4 out of 5 stars A helpful and informative book.......1999-05-06

I bought this book to use for my Labor Economics class at Cornell University. My professor, Professor Smith, is a contributor to this book and it was a wonderful supplement to the lectures. The book is filled with useful information and practical applications, so its appeal is not limited to economics students, but anyone who wishes to know more about payroll taxes, policy applications, work incentives and the like. This easy-to-understand book benefited me a lot and I would recommend its use to other courses in labor economics at other colleges and universities.

1 out of 5 stars This book is too wordy, puts you to sleep.......1999-04-04

I bought this book for my economics class at Dartmouth College, but it was a horrible book. The text is wordy, verbose, too long. A lot of times, there are unnecessarily explains simple things too long. I hope all of you will find better labor economics text book.
Modern Labor Economics: Theory and Public Policy (9th Edition)
Average customer rating: Not rated
    Modern Labor Economics: Theory and Public Policy (9th Edition)
    Ronald G. Ehrenberg , and Robert S. Smith
    Manufacturer: Addison Wesley
    ProductGroup: Book
    Binding: Hardcover

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    ASIN: 0321305035
    Modern Investment Management: An Equilibrium Approach
    Average customer rating: 2.5 out of 5 stars
    • Ignore the Bad Reviews Below
    • Crap
    • All Blather and No Substance
    • Oldschool
    • The definitive equilibrium investing title
    Modern Investment Management: An Equilibrium Approach
    Bob Litterman , and Quantitative Resources Group
    Manufacturer: Wiley
    ProductGroup: Book
    Binding: Hardcover

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    1. Active Portfolio Management: A Quantitative Approach for Producing Superior Returns and Controlling Risk Active Portfolio Management: A Quantitative Approach for Producing Superior Returns and Controlling Risk
    2. Financial Modeling of the Equity Market: From CAPM to Cointegration (Frank J. Fabozzi Series) Financial Modeling of the Equity Market: From CAPM to Cointegration (Frank J. Fabozzi Series)
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    ASIN: 0471124109

    Book Description

    Introduces the modern investment management techniques used by Goldman Sachs asset management to a broad range of institutional and sophisticated investors.
    * Along with Fischer Black, Bob Litterman created the Black-Litterman asset allocation model, one of the most widely respected and used asset allocation models deployed by institutional investors.
    * Litterman and his asset management group are often a driving force behind the asset allocation and investment decision-making of the world's largest 100 pension funds.

    Download Description

    Introduces the modern investment management techniques used by Goldman Sachs asset management to a broad range of institutional and sophisticated investors. * Along with Fischer Black, Bob Litterman created the Black-Litterman asset allocation model, one of the most widely respected and used asset allocation models deployed by institutional investors. * Litterman and his asset management group are often a driving force behind the asset allocation and investment decision-making of the world's largest 100 pension funds.

    Customer Reviews:

    5 out of 5 stars Ignore the Bad Reviews Below.......2006-08-15

    I am quite shocked by all of the poor reviews below. This text is actually very good, in that it address several topics that Grinold and Kahn do not, mainly utility theory (and its role in investor decision making), the international CAPM, and the Black-Litterman model. First, the presentation of the investment decision making process by Litterman from an economics (utility maximization) view point is right on target. Too often portfolio theory is simply presented in a pure mathematical finance format that, while teaching the mechanics, leaves the end user incapable of understanding the implications of the analysis they are performing. Additionally, Litterman's presentation of the international CAPM and universal hedge models are very well done and extremely important. Finally, the Black-Litterman model has become mainstream (it is incorporated into the Ibbotson software) and is completely ignored by Grinold!

    I own both Litterman and Grinold, and if you can afford both I would buy both because Grinold does a nice job simply presenting the mathematics, but then so do so many other texts.

    1 out of 5 stars Crap.......2005-12-17

    A couple of chps from here are reqd reading for the CFA Level III exam (last exam for CFA charter). I was expecting something MUCH better from GSAM who fancy themselves as the best on the street.

    Thankfully, CFAI provided us with the chps and we did not have to purchase the book. Save your money and buy Grinold instead.

    1 out of 5 stars All Blather and No Substance.......2005-07-12

    The boys at GSAM clearly wrote this book as an "alternative" to Grinold and Kahn and to help promote the group as the seek to raise assets.

    Grinold and Kahn work at Barclays Global Investors, GSAM's biggest competitor, and they wrote a first-rate book on how to do quantitative management. Their book has become the standard, the must read, and is required by the CFA exam. This obviously bugged them to no end. It's no fun to see your biggest competitor getting tons of accolades. So they did what anyone with a big ego does: they wrote their own book, this book.

    Only problem is this book STINKS. What's the matter with it you ask? It has no content. The boys at GSAM were so scared about divigulging anything that could help a competitor (or the market) that they didn't really want to SAY anything.

    Now how do you not say anything but still write a book, you ask? Excellent question! The answer is you talk in infuriatingly broad generalities about very general topics.

    For example, on the topic of how do you actually trade the portfolio, they come up with such gems of wisdom as:

    "Tradomg is the process of executing the orders derived in the portfolio constrution step. To trade a list of stocks efficiently, investors must balance opportunity costs and execution price against market impact costs." [page 431]

    This knowledge anyone who has ever thought for 2 seconds about trading knows. The real value might come if they gave you some cool way to think about measuring opportunity costs, ex-ante. Or a nice way of estimating market impact costs. Do they do either? Of course not! Just more and more banal talk.

    The book is filled with millions of other examples. One should use a decay weight in estimating covariance matrices. How should we choose that decay weight is of course never mentioned or discussed!

    They tell us when choosing between factors to predict returns, "the real challenge is to winnow down the list of factors to a parsimonious set." Okay, how might I do that you GSAM gods? They never ever tell you [see page 420]

    You get the point, just lots of blather and really no content.

    Save your money and don't buy this book. They don't need your money they have enough already. And it's not like you are getting knowledge or anything valuable in return.

    1 out of 5 stars Oldschool.......2003-11-24

    Nicely written from a journalistic perspective but rather old fashioned. Many mistakes and deliberate false claims in order to suit product interests of Goldman Sachs. Examples:

    In the chapter on asset liability management there is always an analytical case for equities. However the only reason is that GS does not allow duration as a choice variable. Otherwise beta (in their formula) would become one and the optimal equity allocation is zero. Accidental? I doubt it.

    They also claim to have found (earlier) a better method than Stambaugh on dealing with missing data. However either you publish or you shut up.

    Waste of time for serious quants

    5 out of 5 stars The definitive equilibrium investing title.......2003-08-20

    My highest commendations to the asset management team at Goldman Sachs. They have come together and created a highly comprehensive tome that covers all the bases within the realm of modern investment theory. Their solid equilibrium approach is applied to all areas, from traditional investments to alternative asset classes, from institutional funds to private wealth, using analysis and real world applications. Incredibly thorough, extremely recommended.
    Modern Portfolio Theory and Investment Analysis
    Average customer rating: 4.5 out of 5 stars
    • Good mix between theory and practice
    • Solid, comprehensive textbook, but a little uneven
    • Outstanding
    • Excellent theoretical background
    • Excellent coverage, friendly lingo
    Modern Portfolio Theory and Investment Analysis
    Edwin J. Elton , Martin J. Gruber , Stephen J. Brown , and William N. Goetzmann
    Manufacturer: Wiley
    ProductGroup: Book
    Binding: Hardcover

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    Accessories:
    1. Financial Modeling of the Equity Market: From CAPM to Cointegration (Frank J. Fabozzi Series) Financial Modeling of the Equity Market: From CAPM to Cointegration (Frank J. Fabozzi Series)
    2. The Investment Portfolio User's Manual The Investment Portfolio User's Manual

    ASIN: 0470050829

    Book Description

    An update of a classic book in the field, Modern Portfolio Theory examines the characteristics and analysis of individual securities as well as the theory and practice of optimally combining securities into portfolios. It stresses the economic intuition behind the subject matter while presenting advanced concepts of investment analysis and portfolio management. Readers will also discover the strengths and weaknesses of modern portfolio theory as well as the latest breakthroughs.

    Customer Reviews:

    5 out of 5 stars Good mix between theory and practice.......2007-09-14

    I was looking for a hands on book. It is a pity I had to buy also the software "The Investment Portfolio" which should be included, and also I missed the answers to chapter problems. After a couple of weeks I feel I could advise in making and managing a portfolio.

    4 out of 5 stars Solid, comprehensive textbook, but a little uneven.......2006-06-10

    If you are looking for one textbook on financial investment, this book should be on the top of your list. It has very solid and comprehensive coverage of all the major topics in financial investment, from portfolio construction to CAPM to options to global investing. What I like the most is the detailed discussions on the various pros and cons of each model or technique people use in the real world. This book is a little light on math, but there's enough to satisfy casual readers who want some math but don't want to deal with things like linear algebra or stochastic processes. Another excellent feature is the large number of references the authors provide.

    I cannot give this book 5 stars because, due to the multi-coauthorship, the chapters can be a little uneven in both readability and level of treatment. One chapter will give you two pages of algebra from the first grade, and the next chapter is packed with discussions that require a deep understanding of economic theory. The audience of this book is a college senior or a first-year master's or Ph.D. student, which may explain some of this unevenness. The book also tends to be wordy at times.

    But overall, this is a good textbook that you can learn from as well as reference in the future.

    5 out of 5 stars Outstanding .......2005-10-01

    I got what I expected at the time I was supposed to get it.

    5 out of 5 stars Excellent theoretical background.......2001-06-09

    This was one of the texts I had to read for one of my MBA classes. It provides an excellent theoretical background in finance and the theories that link finance to macro and micro economics. It is not very practical however. Not much in the book can be applied. It is a must, however, for any serious student of finance. The coverage of option models is a little light, however. I highly recommend that people have a background in calculus, differential equations, probability theory, and linear algebra before reading this book.

    4 out of 5 stars Excellent coverage, friendly lingo.......2001-03-30

    For a textbook, this is written in a reader-friendly style. You can almost see the author at the blackboard explaining the concepts AND math in plain English. And yet, very little handwaving at all. On the other hand, this may also present special readability challenges: you may find yourself constantly flipping between text and tables to follow the discussion.

    From a pedagogical point-of-view, some of the developments might have been more intuitively presented. For example, the chapter on option-pricing theory should mention the expected-value interpretation. Over all, however, this text does very well on this score.

    I particularly liked the survey of empirical studies at the end of each major concept, that discusses the imperfections that other researchers have looked into, and their findings.

    This is one of the core reference texts I keep on my desk.
    Brink's Modern Internal Auditing
    Average customer rating: 5 out of 5 stars
    • Research book with enormous coverage
    Brink's Modern Internal Auditing
    Robert Moeller
    Manufacturer: Wiley
    ProductGroup: Book
    Binding: Hardcover

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    ASIN: 0471677884

    Book Description

    Brink's Modern Internal Auditing, Sixth Edition is a comprehensive resource and reference book on the changing world of internal auditing, including Sarbanes-Oxley compliance issues.
    * Sixth edition of a very well respectede auditing resource.
    * Provides an overview of the role and responsibilities of the internal auditor.
    * Includes discussion of the Sarbanes-Oxley Act and the impact it has on auditing (particualry concerning controls).
    * Provides expanded coverage of fraud and business ethics.
    * Includes guidance on reporting results effectively.
    * Provides in-depth discussion of internal audit and corporate governance.

    Download Description

    Brink's Modern Internal Auditing, Sixth Edition is a comprehensive resource and reference book on the changing world of internal auditing, including Sarbanes-Oxley compliance issues.
    * Sixth edition of a very well respectede auditing resource.
    * Provides an overview of the role and responsibilities of the internal auditor.
    * Includes discussion of the Sarbanes-Oxley Act and the impact it has on auditing (particualry concerning controls).
    * Provides expanded coverage of fraud and business ethics.
    * Includes guidance on reporting results effectively.
    * Provides in-depth discussion of internal audit and corporate governance.

    Customer Reviews:

    5 out of 5 stars Research book with enormous coverage.......2005-02-27

    Scope of this book is enormous. It is like an encyclopedia - which is why I got the PDF version; cannot imagine carrying it around. It is not like a college book on Internal Audit, where for example, they take you through the business cycles (e.g., revenue cycle), but that be gotten elsewhere. The coverage is excellent on both the Financial and IT side for SOX - and for internal audit departments not following SOX.

    The update for SOX is meaningful and through. If anyone wanted a history of internal audit, and the impact of SOX to the professional, great overview. While expensive, this is a reference manual and hard to imagine a subject where at worse, an excellent introduction is given to the topic at hand. I have not seen anything near as comprehensive, and well integrated so it is not just a bunch of chapters thrown together. Would seem to make the 5th edition obsolete because of so much new content.

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