Book Description
The Great Bust Ahead is a concise, straight to the point book laying out in stark terms the case for a coming depression of historically unprecedented magnitude. It will be much worse than the 1930s, beginning perhaps as early as 2009-2010, and last up to thirteen years. Centered on hard fact demographics, the book boldly claims that the data presented are so irrefutable, that the outcome predicted by the book is equally as irrefutable. The compelling proof presented accurately accounts for the detailed trend of the economy from 1920 to today (something never before accomplished), and projects out to 2030 in detail. The book is very easy to read and understand, and requires no prior knowledge of economics. Down to earth things the average person can do to prepare for what is coming are covered. A summary of the catastrophic domestic social and international consequences is offered.
2006 Update: In late 2002 when this book was published, in addition to the massive depression beginning towards the end of the decade, it forecast:
1. The economy, as reflected by the DJIA, would resume its upwards march in late 2002 or 2003.
This is exactly what happened.
2. The DJIA would have a snap-back to 13,000 to 14,000 and the FTSE to 6,000 to 7,000 by 2004, but delayed possibly by wars/politics/terrorism/scandals.
This is exactly what has happened. Although still delayed from the full snap-back for the reasons described, the DJIA is now over 12,000 and the FTSE is over 6,000.
3. The inflation adjusted DJIA returns from 2003 to 2012 would average 7% to 8%. So far, with the delayed full snap-back, inflation adjusted DJIA returns have averaged a more modest 4%, as would be expected.
4. Interest rates would increase from 2003 onwards.
This is exactly what has happened.
Customer Reviews:
It is just an indicator!.......2007-09-12
Everyone is forgetting that the book is talking about a correlated indicator for the DJIA. There are many things that drive an economy and make things happen like the weakening dollar, monstrous deficits, the Federal Reserve, cheap credit and the housing market bubble, peak oil, etc. These are some of the things that move the DJIA, NOT just demographics. The fact that the 45-54 age group correlates to the DJIA is very interesting and CAN be used to predict what MAY happen to the DJIA in the long term. Demographics of the 45-54 age groups are a strong force pushing the markets, but not the only thing. Even the author says that some things like "the New Deal, the pill and the NASDAQ" affect the correlation with this indicator. The politicians and Wall Street are not going to lie down and let this monstrous depression happen without a fight. They my not win the War, but where the DJIA goes in the future has not been case in stone. The future highs and lows of the DJIA are still unpredictable.
The book is a high school treatise on this relationship and to the economically ignorant is a real eye opener. Most economists know about this force, but the key is what to do about it and when. The author's advice to get out of the markets by 2010 is silly at best. We are now in September of 2007 and the housing market bubble burst is probably the beginning of the down turn of the markets. Wait until 2010 to protect your assets and you will far less assets to protect. The author's advice to sell your home and rent and plow your money into bonds is simplistic at best. Investing in gold, foreign currencies, TIPS etc. to protect your assets are other stratigies that are not addressed. We are all speeding towards this economic depression, but the answers to when it will happen and what to do about protecting your assets is NOT even close to being addressed by this book. The book is $8.95 and you get what you pay for, "a wakeup call for the economically ignorant". Read the book and move onto a more advanced book for a better in depth discussion on economics and your money like "The Second Great Depression (Paperback) by Warren Brussee (Author)". I do agree that a lot of pain is ahead for the world.
Not Bad But Too Short and Too Extreme.......2007-08-22
Let me start by saying that this is a pretty good book for the price and if you don't know what is going on in the economy. The problem is that the book has very limited data to back up the predictions. If you are going to make huge predictions you had better justify it with a lot of credible data that has been referenced. As well, some of the predictions are just too extreme. However, all of these shortcomings aside, the author provides a nice short treatment on what will most likely occur; just not to the extent he has presented in my opinion. Of course, opinions are like debt in America - everyone has their own!
A much more useful book in my opinion is "Cashing in on the Real Estate Bubble." It not only shows you many different ways to profit from the current bubble collapse, but it also shows a lot of detail about the economy and how to profit from America's overall credit bubble. Cashing in on the Real Estate Bubble
Interesting theory but..........2007-07-09
This book is short and easy to read. The author has an interesting concept that the stock market follows the number of Americans at their peak buying age. His graphs and explanations on modifying factors make everything fit. I agree that some correction of our economy (inflation, recession, or worse) is likely in the future, but I feel other factors (energy issues, our national debt, terrorism, etc.) will come into play that he has not taken into account. I also don't agree with his investment suggestions and feel they may be reckless.
If you're concerned about possible bad times ahead, this is one book that may helpful, but I better liked the reasoning and proposals on what to do in Stephen Leeb's book The Coming Economic Collapse: How You Can Thrive When Oil Costs 200 Dollars a Barrel.
Excellent Read.......2007-05-14
Pros:
1. Brief: to the point, no fluff book(let)
2. Logical: Numbers support theory all along
3. Simple: Easy to understand
4. Value: Could save your shirt
Cons:
1. May sound too negative
2. May not consider all factors into forecasting
Pretty interesting read.......2007-05-12
This book and the argument that it lays out is pretty eye-opening. It shows you, through logical argument, how the demographics of our country will impact our coming future economic health. With these baby-boomers greying and falling from their peak spending years, our country will experience a downshift that will really challenge our concept of prosperity... A must read!
Average customer rating:
- Excellent reference for both advisors and their clients
- Excellent reference for both advisors and their clients
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J. K. Lasser Pro Advising Mature Clients: The New Science of Wealth Span Planning
Neal E. Cutler
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ASIN: 0471414700 |
Book Description
FINANCIAL PLANNING FOR THE CHANGING NEEDS OF AN AGING SOCIETY
"Cutler has hit a financial literacy home run. He has done an outstanding job of educating the professional working with the mature market about the psychology and complexity of the Wealth Span and about the financial issues and products that figure prominently in executing a successful strategy for older clients and families. This book is about as comprehensive as you can get for understanding the nuances of financial planning for mature consumers. It is filled with information, insight, resources, and (thankfully!) humor!"
-John N. Migliaccio, PhD, President, Maturity Mark Services Co.
"Learning across disciplines will be the way of the future. Dr. Cutler is in the unique position to authoritatively discuss advising mature clients from both the gerontological and financial planning perspectives. This latest in the Lasser Pro Series is sure to be a must for anyone who wants to do holistic financial planning for older clients."
-Kenn Beam Tacchino, JD, LLM, Professor of Taxation and Financial Planning, Widener University; Editor, Journal of Financial Service Professionals
"Dr. Cutler has written a cutting-edge guide for the myriad professionals who advise mature clients and adult children of older parents. His book is timely, much needed, and will undoubtedly become the definitive reference for practitioners and students of aging and the economics of aging."
-Lois A. Vitt, PhD, Director, Institute for Socio-Financial Studies; Editor-in-Chief, Encyclopedia of Financial Gerontology
"Dr. Cutler has provided a valuable resource to those of us in the financial industry. He has provided clear, concise commentary on the issues facing our aging population with actionable suggestions for the financial advisor. I highly recommend it to my fellow professionals."
-Kelly B. Auslander, CFP, President, American Financial Advisors, Inc.
Please visit our Web site at www.jklasser.com
Customer Reviews:
Excellent reference for both advisors and their clients.......2002-04-29
As an attorney-at-law, I found that "Advising Mature Clients" by Dr. Neal E. Cutler has given me a new perspective on analyzing, and on advising older clients about, the increasingly complex series of decisions we all seem to face as we age.
On a personal level, I found the book to be filled with information that is easy to understand and is well-indexed for use by the advisor as well as by those whom he/she advises. Its multi-disciplinary focus gives one an easy depth of understanding of the breadth of Gernontology, and financial & social issues that need to be considered, in just a few hours of study of the clear, concise tables, facts, and figures, which are presented in logical fashion.
The chapter on costs and financial benefits of Long Term Care Insurance alone is worth the price of the book. Strategies and alternatives to pay for Long Term Care Insurance are set forth, along with the sobering financial burden long term care imposes, and the alarming rate of increase in long term care costs, compared to the more affordable insurance premiums.
This book should be kept as a desk reference and ready authoritative source of information, to share with clients who have questions or concerns on any aspect of the topics of Wealth Span Planning and Financial Gerontology.
Excellent reference for both advisors and their clients.......2002-04-29
As an attorney-at-law, I found that "Advising Mature Clients" by Dr. Neal E. Cutler has given me a new perspective on analyzing, and on advising older clients about, the increasingly complex series of decisions we all seem to face as we age.
On a personal level, I found the book to be filled with information that is easy to understand and is well-indexed for use by the advisor as well as by those whom he/she advises. Its multi-disciplinary focus gives one an easy depth of understanding of the breadth of Gernontology, and financial & social issues that need to be considered, in just a few hours of study of the clear, concise tables, facts, and figures, which are presented in logical fashion.
The chapter on costs and financial benefits of Long Term Care Insurance alone is worth the price of the book. Strategies and alternatives to pay for Long Term Care Insurance are set forth, along with the sobering financial burden long term care imposes, and the alarming rate of increase in long term care costs, compared to the more affordable insurance premiums.
This book should be kept as a desk reference and ready authoritative source of information, to share with clients who have questions or concerns on any aspect of the topics of Wealth Span Planning and Financial Gerontology.
Book Description
The 1990s will be a time of political, economic, social, and financial upheaval. But even in a time of crisis, prepared individuals can prosper if they know:
-- the secrets of megapolitics -- how technology will revolutionize economic and social institutions
-- which businesses will thrive and which will fail
-- how to build a financial foundation in a time of economic crisis
Customer Reviews:
Foundational Wisdom To Plan Your Future By..........2006-11-19
I first met James in 1993 when he was giving a lecture at Michigan State University. I was well acquainted with him through his newsletter and economic theories that were more than just that. I have the utmost respect for him and have earnestly recommended THIS book to friends who want to build as solid a financial future as they can.
I purchased and studied this book the year it came out - it is foundational wisdom. Imagine...what would you do on the day that note for our trillion dollar deficit comes due? The day the US goes up for grabs? It is not unfathonable. Why not work on a plan for protecting your wealth that CAN span through the ages?
The Great Reckoning dispells any myths. It is strong medicine for those who believe the gravy train will not end and a plan of action for those who know it is already ending. It helps you to better plan your future, your investments and grow your wealth. I only have RAVES to give for this book - and have referred it to any THINKING friend/associate who wants to better prepare themselves, their family and their finances for the future.
Companion books - it took me YEARS to find Blood In The Streets (it was out of print), written by James and Lord Rees Mogg. Buy it! Also Harry Figgie's Bankruptcy 1995 is a must read. You will be surprised by how many of the steps that OTHER countries have taken to prevent capital flight have already been taken by the US. An eye opener.
And...round it off with The Sovereign Individual. It actually takes one tenet from The Great Reckoning and expands upon it a little more. It is not the tome, like the prior 2. However if you are foreign to the idea of you as your own country, well, explore it in that book.
Great Insight and Durable Wisdom.......2006-02-19
It's been more than 20 years since I read the first edition which (at a time when most Americans believed that the USSR was here forever and Reagan's "Evil Empire" comments were irresponsible) accurately forecast the downfall of the Soviet Empire.
The next edition featured a new chapter, Mohammed Replaces Marx and included an extensive discussion of what we now refer to as asymmetrical warfare. The authors correctly saw Muslim fundamentalists filling the vacuum left by decline of the USSR and East European communist governments. In addition, the authors accurately identified the trends of technology as shifting the ability to manage and inflict large scale terror to small nations and stateless groups which would be difficult to track and which had no territory to defend.
Almost 20 years later it is sobering to realize that the proliferation of WMD, especially nuclear weapons, has far exceeded the pace predicted by most government officials years earlier.
Sadly most readers focused instead on the financial predictions which they saw as the most important to their self interests. Thus they were unprepared for either the fall of the Soviet empire or the continued rise of Muslim fundamentalist based terror, either state sponsored as in the cases of Iran, Iraq and others or that sponsored by leaders such as Bin Laden. Too many Americans still fail to realize that we are in a state of war and have never learned or forgotten the lessons of the early days of WWII when action instead of "Peace In Our Time" appeasement, might have prevented the slaughter to tens of millions of people.
Predicting the future is always a dangerous exercise. It is an interesting exercise to pull the book off the shelf years later and thumb through the early editions. As one author noted, the futurists and economists are always wrong and the science fiction writers usually right. Certainly recent history has shown that the author's predictions are not 100% right, but they understand some of the most important forces shaping the world of tomorrow. As a result the value of their thinking puts them at the top of the list.
It is interesting to note that while most books sell on the used market for a fraction of their original cost, the single copy available through Amazon's resellers is listed at 400%+ of the cost new.
The Great Book on the future.......2006-01-14
This book is not politically correct, and never made the talk show circuit in the US.
I first heard of it on Canadian TV 10 years ago.
What has stayed with me for 10 years, is the notion that the time between great depressions [~60 years] is the length of living memory. That memory is to not invest speculatively with borrowed money.
A window to the future.......2004-06-07
Absolutely prescient...
Although written in the late eighties, it rings a resounding bell today.
In my humble opinion, it's a window on the past, present, and future - a condensation of controversial, yet seminal truths.
It is a must read for any person with an inquiring mind. It is required mental luggage.
Read it!
Maybe timely now to read.......2004-02-04
Who would have expected that the Internet and Telecom bubbles would delay the 'great reckoning?' If this book is correct, we have only a short time to get our financial houses in order. This is a long read and yet a good one.
This is for those who wish to conserve and preserve what they have. Recommendations not to eat in certain restaurants and the like....interesting in light of the food poisonings of late.
Our national and international money woes. Economists, historians, business professional and the clergy would benefit from this book. The recommendations were too soon, so they sounded a little early and the 'cry wolf' scenario seems to creep in. Well, look at where we are today. We can rebound, if it is the right time.
Amazon.com Audiobook Review
The world that author Harry S. Dent Jr. presents in his narration of The Roaring 2000s is one you'll want to live in: incredible interconnectivity between electronic devices, superfast jets, and computers that transmit video images, translate voice commands--everything except make omelets. Dent, who comes off like an accountant you'd trust with your last dime, makes the future sound so wonderful that you'll feel guilty listening to him talk about it on a low-tech cassette player. (Running time: three hours, two cassettes) --Lou Schuler
Book Description
THE GREAT BOOM IS COMING
How and where we work and live is about to change drastically. In The Roaring 2000s, Harry S. Dent, Jr., one of the world's most prescient forecasters, turns his visionary eye to the full spectrum of possibilities that will follow in the wake of a burgeoning turn-of-the-century economy. Dent identifies opportunities, explores trends, and makes concrete predictions. Among them are:
A Dow that will reach at least 21,500 and possibly 35,000 by the year 2008
The rise of "gazelles," small- to medium-sized, high-growth companies that are now creating most of the jobs in the country
The Eight Critical Technology Trends Changing How We Live and Work
The New American Dream -- why changing technologies could mean a return to small-town living, and the nine types of boomtowns that will offer the highest quality of life
The New Network Corporation, which features leadership at the center rather than management from the top, and human browser teams that represent customers by connecting them directly to servers or specialized products and experts. These organizations are fast, responsive and entrepreneurial
The Seven Principles of Successful Investing
For anyone who wants to take advantage of these invaluable, emerging opportunities. The Roaring 2000s is a necessary guidebook to a not-so-distant future.
Download Description
One of the world's most prescient economic forecasters unveils his predictions for the beginning of the 21st century -- and shows how we can take advantage of the unprecedented opportunities that will accompany the great financial boom to come. In The Great Boom Ahead and Job Shock, Harry S. Dent predicted with uncanny precision an unprecedented boom in the stock market. Now, in "The Roaring 2000s", he turns his visionary eye to the changes that will come in the wake of the burgeoning turn-of-the-century economy, and the peak spending years of the baby-boom generation. In "The Roaring 2000s", Dent offers valuable investment strategies for the next decade. He predicts the greatest population migration in American history and identifies the new boomtowns of the future. He explains how the computer revolution will make freedom of choice in where to live more possible than ever before, and describes his vision of life with a customized economy in the Internet era. He foresees myriad investment opportunities arising from an international boom in emerging countries, and predicts a Dow Jones of 21,500 or higher by the year 2008. Anyone looking for sound investments or new entrepreneurial ventures can profit from Dent's advice on where the opportunities will be in the next century -- and how to capitalize on them. "The Roaring 2000s" is a must-have handbook for the not-so-distant future.
Customer Reviews:
SOSO. There's better books out there; but worse too........2007-06-04
Some fairly good analysis on markets and trends and things. But abyssmally and tragically ignorant on some of the most important base issues surrounding money, banking, monetary policy, and inflation. For the market review and analysis, for the cost of used books today, I'd recommend not paying more than 7 or 8 bucks at the very most. But when you get to the parts of the book where he talks about money or inflation directly, skip those sections.
The inflation myth. If you see inflation today plan on massive growth tommorow........2006-01-25
The Inflation myth is that it results from rapid growth. Inflation is the result of radical new technologies and the entrance of the young new generations that bring them to the workforce. Other than the war periods, the greatest periods of inflation have coincided with major periods of technology innovation: Inflation wave following the crusades, another massive wave following the capitalism revolution; and the biggest wave emerging caused from the information revolution.
Inflation is a sign of progress in the making, not the destruction of the monetary system or decay of the moral fiber. Neither political policy of various Presidents nor the monetary policy of the fed significantly influence inflation, instead inflation is the economy's means for financing an economic revolution. The higher the inflation the greater the economic revolution to follow and during inflation money is tight, so demand for the money will be strong. It takes a massive investment to launch an economic revolution. The launch of the economic revolution corresponds with the growth of the labor force, whose spending patterns as group are very predictable. The labor forces expands during the innovation wave that occurs when a new generation enters the job market. There are three forces that influence inflation : 1. new technologies force organizations to retool to remain competitive and requires capital investment 2. the new generation launches many new companies, which require an infusion of capital before they become self-supporting 3. the new generation elevates the demand for commercial infrastructures-from office space to factories to warehouses for work, and malls and store of all kinds for personal shopping and entertainment-which require a huge capital investment by businesses and government.
In Phase I, inflation occurs when investors are saving more then they are spending. Higher interest rates fuel the propensity to spend. The business sector's need for cash flow imposes an inflation tax on the consumer. New businesses needing to raise capital can not finance large debts because they have not yet stabilized and demonstrated a predictable growth pattern. High inflation forces debt financing through venture capital. Inflation moves higher because production increases have not yet been realized adoption of new technologies that will increase productivity. As the new technology companies begin to grow, financing begins to ease. Inflation drops as finance and investment grow. The companies find it easier to get credit and loans and so they borrow more to finance their growth and retool.
In Phase II, in a booming economy and falling inflation rates consumers are spending and borrowing money, so government does not feel compelled to raise tax rates. The money government needs to produce from the growing infrastructure and finance transition into the new economy. As the new economy emerges debt rises to finance the growth, inflation rates fall, and productivity rates remain low and improving.
In Phase III, productivity surges as the new technologies move mainstream, following the S-curve Pattern. Business organizations leverage the new technologies to increase productivity, wages, and profits. The high profits in the new growth companies create high cash flow for investment and growth with less need for equity or debt financing.
Based on inflation patterns, productivity, and labor force trends a massive boom for the next four years will become a reality. The boom will not be sustained and a prolonged period of time of 10-20 years of economic slowdown will causes surges in unemployment, but eventually 3% of the new growth companies will create a surge in employment, profits, and innovations. The real revolution will not be technology but a return to a focus on the customer, his preferences, his smart card info, and global sharing of this information between companies. Frontline consultants will use back end server data to bring the best opinions for the consumer depending on their situation. The organzational network will change the infrastructure, efficiency, and value companies will bring to the customer. Companies that do not adapt will not be competitive and sales indicators will testify against them.
Just Telling People What They Want To Hear.......2005-03-15
The "It's the 2000's and everything is going to be great because nothing can go wrong" theme was the opposite of what I was looking for.
I'm interested in books that give solid detailed steps to take when preparing for your financial future and this book seems to have a "don't worry about it" kind of tone. I found it pretty worthless. As if he just wrote a book that told people what they wanted to hear in order to get them to by the book.
(...)
Pandering to the "greed" in all of us..........2004-09-15
Readers would be better served by reading "The Intelligent Asset Allocator", which has the same core recommendations with regard to saving and investing, but much harder data on asset allocation (which provides >85% of the explanatory variable in overall portfolio returns according to most academic studies), following those recommendations instead, and then going out and just living their lives instead of vainly seeking some "new life around the corner, if only I had another $(fill in the blanks) million" by spending their hard-earned money on these investment book du jours.
Share market and real estate.......2004-07-16
I think the basic assumption about the impact of the baby boomers is correct, but where Harry went wrong is that he encapsulated the "message" by focusing exclusively on the sharemarket. If he had said that assets, viz average share prices and average property values, will quadruple by 2008, then he will probably be right. Unfortunately he said words to the effect that the Dow Jones will go from 10,000 to 40,000 by 2008. What he didn't properly explain was that in some years real estate will go up, and down, likewise the share market. Together, over the period 2000 - 2008, the combined value will quadruple. His thesis is correct; it was the catchphase that was wrong.
Product Description
Within this book, you'll be able to "go inside" a baker's dozen companies and learn how they use Sales & Operations Planning to run their businesses better. You'll meet large companies and smaller ones, household names and names not widely known, companies whose products you use and companies whose products you've never heard of. You'll also hear from the consultant who helped them implement S&OP.
The Best Practices Companies are:
Agfa
Amcor
Cast-Fab
Coca-Cola Midi
Danfoss
Eclipse
Eli Lilly
EMS
Interbake Foods
Norse Dairy Products
Pyosa
The Scotts Company
Unicorn Medical
Learn:
What is this thing called S&OP and why do successful companies use it? What's involved, what are the steps, and how does it work?
Where does S&OP work? With which kinds of products? With which kinds of customers? Does it help with the New Product Development and Design process?
How are the demand and supply plans for the detailed product mix managed in a way that is consistent with the volume plans from S&OP?
Is S&OP really needed in a company using Continuous Improvement methods like Lean Manufacturing or TQM/6 Sigma?
How does S&OP work with Supply Chain Management: outside the company, with customers, and with suppliers?
In what size company does S&OP work best? How does it work in privately-held companies, global companies and companies using a matrix organization structure? Does S&OP survive ownership or organization changes?
How can a company be sure that its financial plans match its operational plans?
Average customer rating:
- excel for standard planning
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Financial Planning using Excel: Forecasting, Planning and Budgeting Techniques (CIMA Exam Support Books)
Sue Nugus
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Book Description
Excel for Financial Planning covers all aspects of budget preparation, from designing and creating a budgetary control system, consolidating data and working with spreadsheets.
Now fully updated to include the latest version of Excel and includes a useful CD-ROM containing worked examples and spreadsheet templates, for easy budgeting.
For all qualified and part qualified management accountants who use Excel on a daily basis in budget planning, this book is a must. It contains a wealth of practical examples, tips, new techniques all designed to help you quickly exploit and master Excel to its full advantage and therefore use spreadsheets for more effective management accounting in your firm.
* Provides quick, useful guidance on how to use Excel in management accounting
* Covers basic principles of budgetary control
* Explains the latest techniques for the design and creation of budgets
Customer Reviews:
excel for standard planning.......2007-07-29
I bought this book hoping to learn something new and advanced but found myself redaing things that are simple to impliment in excel.
There examples are on a very basic level , the templates that are supplied are for understandning the basics and no more then that.
Over all, I was very dissapointed. This book is for for beginers in excel who want to upgrade their thinking and planning to beginner plus level.
Amazon.com
Should a company's management be most accountable to employees, customers, or management itself? In Creating Shareholder Value, Alfred Rappaport argues that management's primary responsibility is to company shareholders. First published 12 years ago, the ideas put forth by Rappaport have since become commonplace in companies around the world.
Rappaport eschews the most common measures of a company's performance, such as price-to-earnings ratios ("Cash is a fact, profit is an opinion"), return on investment, and equity measures, instead concentrating on developing a shareholder value approach that measures "value drivers" such as sales-growth rates, operating profit margins, and cost of capital. This revised and updated edition addresses the issues of corporate downsizing and the social responsibilities of business. It also includes new sections on the value of mergers and acquisitions and how to implement a shareholder value system. Both managers and investors alike will find this book useful.
Book Description
The ultimate test of corporate strategy, the only reliable measure, is whether it creates economic value for shareholders. Now, in this substantially revised and updated edition of his 1986 business classic, Creating Shareholder Value, Alfred Rappaport provides managers and investors with the practical tools needed to generate superior returns. After a decade of downsizings frequently blamed on shareholder value decision making, this book presents a new and indepth assessment of the rationale for shareholder value. Further, Rappaport presents provocative new insights on shareholder value applications to: (1) business planning, (2) performance evaluation, (3) executive compensation, (4) mergers and acquisitions, (5) interpreting stock market signals, and (6) organizational implementation. Readers will be particularly interested in Rappaport's answers to three management performance evaluation questions: (1) What is the most appropriate measure of performance? (2) What is the most appropriate target level of performance? and (3) How should rewards be linked to performance? The recent acquisition of Duracell International by Gillette is analyzed in detail, enabling the reader to understand the critical information needed when assessing the risks and rewards of a merger from both sides of the negotiating table.
The shareholder value approach presented here has been widely embraced by publicly traded as well as privately held companies worldwide. Brilliant and incisive, this is the one book that should be required reading for managers and investors who want to stay on the cutting edge of success in a highly competitive global economy.
Download Description
The ultimate test of corporate strategy, the only reliable measure, is whether it creates economic value for shareholders. Now, in this substantially revised and updated edition of his 1986 business classic, "Creating Shareholder Value", Alfred Rappaport provides managers and investors with the practical tools needed to generate superior returns. After a decade of downsizings frequently blamed on shareholder value decision making, this book presents a new and indepth assessment of the rationale for shareholder value. Further, Rappaport presents provocative new insights on shareholder value applications to: (1) business planning, (2) performance evaluation, (3) executive compensation, (4) mergers and acquisitions, (5) interpreting stock market signals, and (6) organizational implementation. Readers will be particularly interested in Rappaport's answers to three management performance evaluation questions: (1) What is the most appropriate measure of performance? (2) What is the most appropriate target level of performance? and (3) How should rewards be linked to performance? The recent acquisition of Duracell International by Gillette is analyzed in detail, enabling the reader to understand the critical information needed when assessing the risks and rewards of a merger from both sides of the negotiating table. The shareholder value approach presented here has been widely embraced by publicly traded as well as privately held companies worldwide. Brilliant and incisive, this is the one book that should be required reading for managers and investors who want to stay on the cutting edge of success in a highly competitive global economy.
Customer Reviews:
Powerful promotion of shareholders' interests .......2007-08-07
For the past 12 years, `The Wall Street Journal' has published Dr. Alfred Rappaport's brainchild, the `Shareholder Scoreboard.' This special section lists 1,000 of the largest U.S. corporations (representing 90% of all listed equity values) and shows statistically how "shareholder-friendly" each one is. This journalistic feature popularizes Rappaport's "Shareholder Value" (SV) theory among institutional and individual investors. Investors use this theory to make equity commitments that reflect the author's economics-based criteria. Frankly, the lay reader who has not majored in economics, or in corporate accounting and finance, will find Rappaport's book abstruse. But it leads the way for the informed, inquisitive investor who seeks "business enlightenment" and Wall Street success. Do not be thrown off by the original 1986 print date. A classic is just that, a book that can be read and wisely used for decades. The small, silent shareholder revolution that Rappaport started is far from over. By now, shareholder analysis has become part of the mainstream for hundreds of big companies (though they accepted it gradually). SV is far from perfect as a corporate strategy indicator. The true worth of this book for CEOs and other executives resides in its lessons for implementing the SV approach throughout a corporation. We recommend it to all three informed constituencies of every public corporation: executives, employees and shareholders.
Higher Understanding.......2007-01-08
A great guide for those wanting to gain a higher level of understanding of corporate decision making. I found it useful within my own business unit and plan to bring back some of the concepts. Read this book if you have a desire to stand out by analyzing decisions like a corporate officer.
Valuation Fundamentals.......2001-09-28
Given that investors value bonds by discounting future cash flows, it stands to reason that they value stocks in the same fashion. Alfred Rappaport is the founder of the shareholder value mindset which gained importance in the '80 and is widely accepted in this new millenium. Rappaport starts the book explaining that objections to using a discounted Cash Flow model do not hold. Strong arguments and empirical evidence is given to explain the market's valuation mechanism. What follows is a basic but thorough explanation of the 3 elements for valuing a company (cash flows , risk and the competitive advantage period). In the second part of the book, it will become clear for the reader DCF is closely linked to strategic analysis and is not in contradiction with stakeholder analysis, customer value analysis, Activity Based costing or any other tool. On the contrary, Rappaport shows DCF is a communication tool that helps investors understand a company's implied performance and how to (re)act. Together with the Valuation book from Copeland, Koller and Murrin this is the book you need.
Good explanation of creating shareholder value, but..........1999-06-09
Professor Rappaport's revised version of his 1986 book on creating shareholder value provides a good description of the value based management concept that he helped create. However, many of the chapters are stand alone sections that do not flow well together. In some chapters he does not provide enough depth on how this book can actually be used by managers. In addition, the chapters on using his concepts to formulate value-maximizing business strategies was somewhat lacking.
Nevertheless, the book was an easy read and many of his points were right on target. I would also highly recommend interested readers to check out "The Value Imperative" by Marakon Associates and "Valuation" by McKinsey & Co for more information on value based management.
MAKE MANAGING SHAREHOLDER VALUE A CORE COMPETENCY.......1999-04-01
This continues to be a good book for raising awareness that shareholder value can and should be managed. It was not that many years ago when a survey of CEOs found that they thought it was immoral and unethical to try to raise share price! I am also pleased to see that Mr. Rapparport discussed appluications to planning, M&A, compensation and organizational development. I belong to an organization (SHARE PRICE GROWTH 100) that develops new tools and processes to improve stock price, and we have found new ways directily link stock price, finance, investor realtions and capital management. We also found that each company has different investor sensitivities, and few stocks move directly with cash flow. The concepts that we use are described in THE 2,000 PERCENT SOLUTION. One of Mr. Rapparport's questions, "what is the most appropriate measure of performance" is a question that was asked of Peter Drucker in the 1970s. Dr. Drucker responded by saying that companies should use as many measures as possible, because we learn something different from each one. That is what really improves business. Confusion sets in, however, because people think that the measures used to improve business performance are also the ones investors focus on. That thinking has misled many to improve performance while watching the stock price and the multiple do nothing. Managing stock price should become a core competancy. With the right infomation, you will find your 2,000 percent solutions.
Customer Reviews:
Wholly Unoriginal Work by A False Prophet.......2007-07-11
In the old testament when a prophet made a prediction that didn't come true they were exposed as a false prophet, taken out and stoned to death. I'm certainly not recommending it- just putting some perspective on our extreme tolerance for people that are consistently WRONG in their predictions. Only God knows what's going to happen, and it's GOD not government, or even we ourselves that provides for us. Burkett and a whole host of "Christian financial advisors" put WAAAAYYYYY too much stock in "planning and preparation". I don't discount it, but they do it and recommend it to the point of pride and idolitary. Do what YOU are supposed to do, and let God do the rest. Quit WORRYING (as worry is a sin) and trying to predict the future and get on with your life!!!
A Future Warning.......2006-09-19
Those some of his predictions (such as 2000) about an economic earthquake hasn't happened yet nor are we that close even with the largest deficit in history. Although it's hard to predict such things...But Larry Burkett makes valid warnings about huge goverment and public deficits and it's impact on the economic that normally leads to hyper-inflation. My impression from the data contained in the book and history thereafter, the government deficit will not have a negative impact such as hyper-inflation till most of the baby boomers are retired. I wish Larry would have updated this topic! The book is still worth buying as it has valuable information, it's super cheap...
Interesting information - Good read!.......1999-10-26
The revised edition of The Coming Economic Earthquake has some interesting information. For a somewhat different view you should check out "The Christian Financial Crisis" by James L. Paris.
Economics solid, Timing off.......1999-07-08
While Mr. Burkett's timing for the economic collapse is off the principals remain solid. Our economy will collapse and his book fortells how and why, while still offering hope. Much thought to chew on.
Average customer rating:
- The Money Mentor
- The Money Mentor
- Manhattan Librarian's recommendation
- A novel way to learn about managing your money
- An Entertaining Way to Learn About Money
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The Money Mentor: A Tale of Finding Financial Freedom
Tad Crawford
Manufacturer: Allworth Press
ProductGroup: Book
Binding: Paperback
General
| Business & Investing
| Subjects
| Books
Planning & Forecasting
| Management & Leadership
| Business & Investing
| Subjects
| Books
Financial Planning
| Personal Finance
| Business & Investing
| Subjects
| Books
General
| Personal Finance
| Business & Investing
| Subjects
| Books
ASIN: 1581150857 |
Book Description
You don't have to be a twenty-three year old dancer with no savings to end up with the excruciating debts young Iris is confronted with in this latest work by financial and legal advisor Tad Crawford. Every year, thousands of Americans of all ages and backgrounds overtax their bank accounts and credit cards and are left with the tricky task of pulling themselves out of their financial chaos. Rarely can they receive such high-quality financial and moral support as the The Money Mentor provides—and certainly not in the guise of an entertaining, up-beat novel!
The Money Mentor provides debtors and those with risky financial habits with both a first-aid kit and long-term therapy to achieve financial freedom. As the author tells the story of the recovering debtor Iris, he walks his readers through all the stages of money management, from the painful assessment of assets and debts to increasing one's income and starting to save. Choosing a sympathetic "girl-from-next-door" as protagonist, The Money Mentor offers people in financial trouble what they lack most of all: the ability to look at themselves from a healthy distance and realize that there is a way out of their trouble.
Customer Reviews:
The Money Mentor.......2001-08-08
I liked this book because the financial information is user-friendly and told as a story, which makes it easy to absorb. It is not dry as if coming from a text book. I found the information easy to apply to my life. It is a great resource book that I will keep by my side for a long time. One of the many important things that I remember from the book is that "I have to do what I love" and abundance will follow somehow. I liked the money exercises at the end of the book, because they are very clear to follow. I was so enthusiastic after reading the book that I started working on my numbers right away and collecting the information needed to help improve my finances. I have purchased the book several times already to give it as a gift to my friends. My thanks to the author.
The Money Mentor.......2001-08-08
I liked this book because the financial information is user-friendly and told as a story, which makes it easy to absorb. It is not dry as if coming from a text book. I found the information easy to apply to my life. It is a great resource book that I will keep by my side for a long time. One of the many important things that I remember from the book is that "I have to do what I love" and abundance will follow somehow. I liked the money exercises at the end of the book, because they are very clear to follow. I was so enthusiastic after reading the book that I started working on my numbers right away and collecting the information needed to help improve my finances. I have purchased the book several times already to give it as a gift to my friends. My thanks to the author.
Manhattan Librarian's recommendation.......2001-04-29
I highly recommend this compelling story of a young woman's coming to terms with debt incurred by overuse of credit cards. Iris Cassidy is a contemporary "Everywoman" whose coming to awareness about her finances also involves a journey of self-discovery that has a profound spiritual dimension. This is a warm-hearted didactic tale, a novel with a message, of one woman's experiences of life, work and relationships, as she wrestles with her realization that she has been spending more than she earns, and resolves to free herself from the burden of debt. In her story, personal transformation occurs through growing self-awareness, with the help of a mentor. She comes to see that forming a viable spending plan for repaying her debts has to make room for what gives joy and makes life meaningful for her--in her case, dancing. This well-written book can give anyone -- young or old -- insight into how to find financial freedom through careful planning and openness to change. It entertains while it teaches, even includes helpful exercises at the end.
A novel way to learn about managing your money.......2001-04-24
This is a work of fiction about an honorable young woman's struggles to get out of debt and get on a firm financial footing. She succeeds with the help of a mentor and by working hard, visits to Debtors Anonymous and much will-power. Along the way, she, and the reader, finds out a great deal about dealing with money in all its aspects in an entertaining way. I am not just starting out in life and I learned a lot.
I liked the book, though I would sock any dentist who tried to talk about compound interest while he was drilling. This could be an excellent gift to give anyone going off to college, or starting a small business, especially an arts business. Anyone heavily in debt might find the heroine a wee bit hard to live up to.
An Entertaining Way to Learn About Money.......2001-04-20
THE MONEY MENTOR by Tad Crawford
This wonderful book is essential for anyone who has had consternation or outright difficulty managing their money. Even for those who are frugal and well organized, it gives extraordinary insights into societal and historical attitudes regarding money and debt. It puts money management into human terms. I alternately cringed (when recognizing my own patterns) and cheered, as the heroine began to pull herself out of the demoralizing trap of debt.
While the book is a fountain of information, there is also a real drama here. By humanizing the problem through the story of a young woman, Iris, plagued by debt and her aid at the hands of a wise and generous mentor, Saidah, it keeps us turning the pages. Instead of a dry lecture filled with advice, this story unfolds as a journey with all the pathos and uncertainty we can recognize in our own battles to balance the cares of earning a living with the real goal of contentment. It's a remarkable work with much more than sound guidance about money management. Filled with history, literature fables and a touch of Zen it is is fascinating and reassuring. We aren't the first generations to be torn apart by money mismanagement.
By the end all I could say is where can I find that mentor? And I want Saidah's telephone number. But I suspect that the author would reply that the mentor can be within us. She is always there in the gift of this book.
Customer Reviews:
Excellent snippets - history and economics together.......2007-09-21
I didnt realise how huge a topic this is. Christeen has provided a birds eye view of the landscape, with some tantilising swoops in some interesting areas. For someone new to the area it is enticing them to try to find where to learn more. I found the blend of history, economics, politics and psychology appealed greatly. The language is clear, such that a non-astrologer gets a lot of understanding of the guidance that can be obtained from the astrological study. Biggest problem - too short, have to go find out how to learn more ! Great readable introduction.
Astrological predictions for the decade.......2007-08-11
Whether you are a professional investor or hobbyist, a business person or an ordinary person who likes to look ahead, this book will serve all! It is a very interesting read & does not trip itself up by using astrological technical jargon. For the astrologers, it is a relief to see it is not a cook-book astrology book but an authentic attempt by the author to vision the coming decade in business & financial terms by referring to astrological themes. I could not put the book down wondering what would be unveiled next, until I shook myself realising that the book is dealing with future possibilities on our planet!
By referring back to past events politically & in business, where similar future planetary configurations were evident, the author gives us reinforcement of her predictions & a sense of credibility. They say forewarned is forearmed & if you read this book, you will have no excuses, if you invest in a losing industry or don't gauge the correct timing for lucrative investments.
I was also very excited by the author's predictions around the Internet in the coming years & the concept of the 'global village' becoming a reality. She manages to keep her grip on reality throughout & speaks about both negative & positive implications of events & gains. This is not a doomsday book most importantly, and I felt that I was more informed by reading it.
To quote the author: 'The quest for greater understanding comes as a result of thinking differently. While the final burst of original thinking and subsequent breakthrough correlates, in these instances, with Uranus's movement through Aquarius, it is the movement of other planets that stimulate the imagination. Indeed it may be that, at a later time, it will be recognised by scientists that 'Energy follows Thought'. As yet, appreciation of this important concept is still in its infancy.'
Astrology & astrological information has been isolated by astrological jargon & terminology as have unfortunately astrologers. They are visited by only the enlightened few who are aware of what invaluable information can be gained about the timing of events on earth by looking at the dances in the heavens! The majority of the business community do not access this incredibly helpful information & are often taken unawares by events politically & financially. This book is groundbreaking as it bridges this gulf & makes this information readable & understandable by all. Using the information that 'The Financial Universe' provides will support us in having a smoother ride in any potential bumps we may come across in the coming decade.
The book also deals with sun spot activity & gives very user friendly interpretations that has left me wanting to watch & follow this phenomenon to see how it correlates with happenings on earth. This really whetted my apetite for more information!
I would like to sum up with some quotes from the book:
'The end of the first decade of the millennium offers a platform for change. Global warfare is a distinct possibility, yet this is not the only possible outcome. The collapse of credit would have similarly devastating consequences - particularly in countries that have built up significant levels of debt. What takes place during 2010 will affect us all. It will surely take time for each and every one of us to absorb the enormity of events, and the years to 2013 could leave many people in a state of shock, so that the real transition into new modes of being might not begin until early that year.'
'Significant change could come about through the dramatic change in attitude demanded as the cosmic storms of 2010 abate and the new forces come into play. Growing awareness that we are all dependent on one another brings with it a change in commercial thinking.'
A fascinating compendium for astrology buffs.......2004-11-05
The Financial Universe: Planning Your Investments Using Astrological Forecasting is not a typical financial guide. It deals specifically with using planetary bodies to predict cycles in the marketplace, both positive and negative. Offering suggestions and warnings that potentially reverberate up through the year 2020, The Financial Universe even contemplates the astrological sign of America as a nation, and considers the implications of this birth sign on the future of American finances as a whole as surely as what this means for one's own private investments. A fascinating compendium for astrology buffs, although lacking in economic advice other than astrological forecasting - the reader is already presumed to be familiar with the basics and the risks of the financial market.
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- The Official Guide for GMAT Review, 11th Edition
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Books Index
Books Home
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Empire of Debt: The Rise of an Epic Financial Crisis
The Coming Collapse of the Dollar and How to Profit from It: Make a Fortune by Investing in Gold and Other Hard Assets
Crash Proof: How to Profit From the Coming Economic Collapse (Lynn Sonberg Books)
The Second Great Depression
The Demise of the Dollar... and Why It's Great For Your Investments
