Book Description
"This is a definitive, excellent book on Elliott, and I recommend it to all who have an interest in the Wave Principle." Richard Russell, Dow Theory Letters
"Gold and Silver Today wholeheartedly endorses this book. It is the definitive work on a scientific wave theory of human experience. If you are interested in technical or wave analysis, it should be required reading." Gold & Silver Today
"This book is extremely well done. It is clear, brief and bold....by far the most useful and comprehensive for both the beginner and the veteran." William Dilanni, Wellington Mgmt. Co.
"An outstanding job...I don't think a better basic handbook of Elliott Wave theory could be written." Donald J. Hoppe, Business and Investment Analysis
"...A top-drawer reference for serious technical analysts....all the nuts and bolts necessary to do their own Elliott Wave assembly." Futures Magazine
"Chapter Three is the best description of Fibonacci numbers we've seen in print and that alone is worth the price of the book." Janes Dines, The Dines Letter
"In a third of a lifetime in this business, this was the first time I really understood Elliott, and this is certainly the first book on Elliott that I could recommend. All the methods that Prechter has used so successfully are fully described in this book." The Professional Investor
"Elliott Wave Principle is such an important, fascinating, even mind-bending work, we are convinced that it should be read by and and every serious student of the market, be they fundamentalist or technician, dealing in stocks, bonds or commodities." Market Decisions
"Even allowing for minor stumbles, that 1978 prediction must go down as the most remarkable stick market prediction of all time." James W. Cowan, Monitor Money Review
Recipient of the Technical Analysis Association's Award of Excellence
Customer Reviews:
Prechter & elliott wave international .......2007-04-26
Prechters view is markets peaked in wave 5 in year 2000.
Never called the bottom in 2002, and stated the
high of year 2000 would not be surpassed.
Well 7 years later the DOW has indeed surpassed the year 2000 high!
High of 2000 was ~12000, today it is ~13000 !!!
Listening to his advice would cost one dearly.
Not only missing out on the recent market rise, but also constantly
pushing one to take a bearish stance against the market during the
entire rise over the past 5 years, while the market was rising!
Amazing.......2007-01-23
That's amazing book to a small investors. It will show to you the behavior of stock market. But you must read it at least twice in order to get everything you need to know.
The landmark book that sparked my love for financial markets as a child.......2006-12-18
No matter what you think about Elliott Wave, Technical Analysis or Robert Prechter, this book is a classic in its field and the definitive introduction to Elliott Wave.
For me, this was - the - book that deepened my love of financial markets as a child, it's influence on me was profound in many ways. I still remember buying it after having saved up $50 to purchase it as an expensive import in the early 1980s when I was in my early teens. I carefully read each page as if it was gold thinking the secrets of the universe were slowly being explained to me... and this was before Prechter gained legendary status in 1987. I met Prechter in 1990 at a speech he was giving in Australia and was struck at his love for markets and for Elliott Wave. It impacted me powerfully at the time that in between speeches he was calling his office to get market updates. He's dedicated his entire life to Elliott Wave with passion and love and I really admire that.
I've learned a lot since those days, including the danger of relying on any forecasting method as being the holly grail. Elliott Wave is not something I've traded with in many years and I believe it would be very challenging to do so profitably without substantial work and going much beyond the information contained in this volume. Personally, I think the theory has a lot of validity, and blends well with Fibonacci, it's just that getting it to work is challenging. I also am not all that keen on some of his more modern day extensions like the double and triple threes that kind of get labeled x-y-z-a-b-c-d-e-f-g-h etc. it's just going to far IMHO. I also the power now of mindsets, I spent most of the 1990s thinking we were certain for another great depression and while that could eventually happen, it was a mindset that held me in place of contraction and fear for one of the greatest periods of growth in my history... a major lesson for me around beliefs and the need not to get caught up in theories. I still think though that Elliott Wave offers profound and valuable insights into human and market behavior.
It's no secret Prechter's basic forecast has been wrong for something approaching fibonacci 21 years... there's no doubt though that he thinks differently, very differently and also truly in a contrary fashion as is evidenced in much of his written forecasts in the EWT publication over the years and other books. He's a sharp thinker and much of that can be seen in this volume. And, to his credit, he's not been afraid to put his forecasts in writing or to stand behind them.
The book consists of a comprehensive introduction to the theory Elliott Wave, true to the work of R.N. Elliott himself. Most of the other books or published work on Elliott will have been based on this work, so it's important to start here with your study of Elliott. The first part consists of the basic tenets, associated rules and guidelines with many diagrams and charts to illustrate the concept, a discussion of the historical and mathematical background including a comprehensive discussion of Fibonacci numbers. The second part of the book involves the practical application. The authors being brave enough to keep the work from older editions of the book with forecasts and guidelines intact. There's a little discussion of cycles and other theories including Dow Theory and the Kondratieff Wave. The Elliott Wave theory is applied to stocks and gold with detailed forecasts and descriptions and in my book, the forecast for the 1990s with great detail and discussion as to the reasons for the forecast.
If you like this book, you may also find useful some of the work by Bryce Gillmore (from Australia) in his two hard to find (and more recent) volumes.
This was, and I think still deserves recognition as being a ground breaking book in technical analysis.
Best wishes for your trading and thank you to Robert Prechter and A. J Frost for a such a wonderful piece of work.
No delivery.......2006-11-03
I have not received my order yet although you said I could expect the delivery in early September.
Subjective and unconvincing.......2006-07-13
I purchased this book many years ago when i was market uneducated and market naive and believed that I was missing something as I could never make the connections the author has made throughout his book. After years of studying the markets and attempting to trade profitably, I have revisited this book once again and am just as annoyed with the conclusions the author has made. I am confidant that my work resolves the wave like behavior that defines price movement more precisely than the author. Perhaps it was the clean slate with which I began my research. From what I can gather, people were attracted to the wave analysis because of the author but unfortunately his thesis has proven to be ineffective for traders. As a member of the technician's society I have hoped to introduce my ideas regarding this subject to the author and convince him my approach is more applicable than his. I am embarrassed to announce that this is not even my full time job as real estate consumes much of my time and trading is merely a hobby. Just think if I were able to devote full time. Regardless this book fails just as it did the first read many years ago.
Book Description
Principles of Forecasting: A Handbook for Researchers and Practitioners summarizes knowledge from experts and from empirical studies. It provides guidelines that can be applied in fields such as economics, sociology, and psychology. It applies to problems such as those in finance (how much is this company worth?), marketing (will a new product be successful?), personnel (how can we identify the best job candidates?), and production (what level of inventories should be kept?).
The book is edited by Professor J. Scott Armstrong of the Wharton School, University of Pennsylvania. Contributions were written by 40 leading experts in forecasting, and the 30 chapters cover all types of forecasting methods. There are judgmental methods such as Delphi, role-playing, and intentions studies. Quantitative methods include econometric methods, expert systems, and extrapolation. Some methods, such as conjoint analysis, analogies, and rule-based forecasting, integrate quantitative and judgmental procedures. In each area, the authors identify what is known in the form of "if-then principles", and they summarize evidence on these principles.
The project, developed over a four-year period, represents the first book to summarize all that is known about forecasting and to present it so that it can be used by researchers and practitioners. To ensure that the principles are correct, the authors reviewed one another's papers. In addition, external reviews were provided by more than 120 experts, some of whom reviewed many of the papers. The book includes the first comprehensive forecasting dictionary.
Customer Reviews:
Don't let a bad forecast ruin your whole decision.......2001-12-15
The subtitle of this book, A Handbook for Researchers and Practitioners, too narrowly defines the audience for Armstrong's new reference. Principles of Forecasting is, in fact, an indispensable resource for managers and professionals of every ilk. Forecasting is an integral part of decisions that we make and that are made for us. To be good decision makers and citizens we owe it to ourselves and others both to make our forecasts explicit and to examine the quality of those forecasts. This book gives the guidance to ensure that best practices are followed and to judge forecast quality after the fact
Principles of Forecasting is not a book that you will find in airport bookstores. It is not a popular management title that dishes-up the latest buzzwords. On the contrary, this book will give you knowledge to examine critically the fashions and fads, as well as the received wisdom, of management. And yet, despite being a serious work, the book is a joy to read at length, or to browse. I suspect many decision makers will tend to do the latter.
The Forecasting Dictionary is part of Principles of Forecasting and is a good place to start some directed browsing. For example, experienced decision makers will often rely on their intuition, even for important decisions. Is that a good idea? The Forecasting Dictionary has an entry for "intuition" that tells us, "... it is difficult to find published studies in which intuition is superior to structured judgment". Highlighted terms, such as "structured judgment" in the preceding passage, indicate that there is a separate Dictionary entry for the term. By following the highlighted terms and the references to the body of the book which are included in Dictionary entries, one can quickly pick up a useful understanding of a topic. Some entries are very detailed.
Following the intuition entry to the entry on structured judgement, one finds "role playing" as an approach to imposing structure on a forecasting problem. Role-play forecasting for conflict situations happens to be an interest of mine. There is a chapter on role-playing in Principles of Forecasting that provides evidence that the outcomes of role-plays by students, and other non- representative role-players, provide accurate forecasts of decisions in real conflicts. This is counter-intuitive given that the conflicts examined involved generals, chief executives, directors, and union leaders among others. Moreover, unaided judgment tends to do poorly by comparison. This has important implications for strategy development - after all, what use is a strategy that fails to forecast accurately how other parties will behave?
I keep my copy of Principles of Forecasting handy, refer to it often, and learn something new every time I do so. How many books could one say that of? A precious few. Congratulations to the authors on a unique and valuable work well executed.
Guidelines for Developers, Researchers, and Practitioners.......2001-11-23
Principles of Forecasting is not a collection of articles describing basic forecasting methods. Instead, 40 authors have used a common format of identifying if-then principles and the support for those principles. Some other common formats of the chapters are: (1) limitations (2) implications for practitioners (3) implications for researchers.
The final chapter of this book contains 139 forecasting principles...
An example of a forecasting principle is: “13.25 Use multiple measures of accuracy”. A primary use for such principles would be as checklists for software developers, researchers, and practitioners to be sure that their work is complete to this level of detail. These are important general principles. Forecasters will need to use other references for the details of forecasting methods.
The Web site for this book is a very valuable resource for forecasters. Some of the resources are: (1) forecasting dictionary [Enter a forecasting term and the Web site returns a definition.] (2) links to forecasting software sites (3) links to forecasting books and reviews (3) links to bibliographies, abstracts, and (for subscribers) full text papers (4) links to conferences on forecasting (5) links to Web sites related to forecasting.
An Excellent Overview of Business Forecasting.......2001-07-05
Throughout my career, it seemed every five years or so, I briefly strayed from risk analysis into a closely related field, such as weather reporting or stock picking, just to see what others were doing. Most recently, I won a jackpot in return for the effort. I read J.Scott Armstrong's "Principles of Forecasting: A Handbook for Researchers and Practitioners."
Risk analysis has dealt more with subjects like natural and technological disasters. Business forecasting resembled risk analysis in several ways, but over the years, enterprise and capital markets accumulated much more extensive data. Social scientists studied the process of (and procedures for) forecasting with financial data intensively. Small wonder, as poor forecasting often led to costly disasters.
The authors wrote the Handbook in clear, coherent prose. It assembled 29 articles by 40 leading experts into an excellent book with 18 chapters. Armstrong, the editor (and clearly the instigator) created a hierarchical framework that described the relationships between different kinds of forecasting information, beginning with either judgmental or statistical sources. "Principles of Forecasting" illustrated this framework in an often repeated diagram.
The framework contributed to a coherent structure. Each chapter described one compartment within the framework. Each had an introduction that described the limitations and uses of a source of data used by forecasters. Each article also started with an abstract. Thus, a reader could quickly survey all of forecasting by skimming through the Handbook and reading either the article abstracts or the chapter introductions.
Instead of reading the text sequentially, the framework and the Handbook's structure also allowed finding a specific article (or a topic of interest within an article) quickly, yet staying oriented to the overall subject. Thus, "Principles of Forecasting" served a handy reference text. The organization and a competent index sped this application.
Many articles were excellent. None were less than very good. The articles concentrated on principles within subdomains of forecasting, which the Handbook emphasized by setting the principles apart in bullet format and bold text. The articles had a common format, which included two useful implication sections, separately for practitioners and for researchers. The articles also had overall summaries, and references to the literature. The authors edited each other's articles, which imposed both high quality and consistency on the Handbook. In addition, an extensive group of outside experts reviewed the articles. This huge effort showed in both dense information content and readability of the articles.
Similarly, the Handbook contained a separate and marvelous "Forecasting Dictionary" toward the end, which allowed quick reference to (and understanding of) separate ideas involved in competent forecasting. In another separate section toward the end of the Handbook, a "Forecasting Standards Checklist" gathered all of the principles from the separate articles and condensed them into a very useful guide.
"Principles of Forecasting" appeared comprehensive in its coverage. The authors wrote it as an explanation of a field, instead of a group of individual articles about related subjects. An introduction and a summary at the beginning and end of the book, also helped orient me to the overall subject of forecasting and to the need for principles. I thought that the Handbook reflected the consistent objective of a group of experts to interpret and explain forecasting. So, I will recommend it as a textbook for classroom use.
"Principles of Forecasting" is not for everyone. It is an expert text. However, for persons involved in (or hoping to become involved in) forecasting or its allied and subsidiary fields, such risk analysis or econometrics, it will prove indispensable.
Book Description
This text provides a survey of the most innovative techniques and methods for managing operations in services and manufacturing. It presents all concepts with a real-world perspective based on the extensive global consulting work of the lead author, Dick Schonberger. This text is unique due to its customer-focused approach. Using the authors 15 principles as a framework for organizing the text This text stresses teamwork, quality, and customer service in both manufacturing and services, as well as traditional topics such as product and service design, purchasing, inventory, location and layout, and scheduling are also included. Quantitative coverage is de-emphasized.
Customer Reviews:
The best general undergraduate treatment of operations management-4.5 stars.......2006-01-26
Knod and Schonberger have written the best general text available on production/operations management at the undergraduate level.The text has very good chapters on Capacity Planning(aggregate capacity planning),Scheduling,Design(reliability and serviceability),Quality and process control(especially pp.318-322 on mean and range charts and pp.327-330 on process capability analysis),Inventory control,Timing(waiting lines and queues),and PERT.A minor weakness is that a discussion of the use of the Beta distribution in PERT analysis is omitted from the book.Anyone who covers this book throughly will be very well prepared to take senior level undergraduate courses and graduate level courses in operations management.
Mixed - good survey and quan, weaker on soft subjects.......1999-01-06
Fairly good survey book. Having an undergrad operations background, I found this book mirrored the strengths and weaknesses of a more detailed operations curriculum. Book is best in framework and quantitative model overviews, weaker on softer subjects like staffing, project management, & holistic quality.
Highly over-rated . Full of fluff.......1997-10-22
If your MBA professor offers Schonberger as the answer to 21st Century Operations Management, seek a transfer quick. Obsessed with a touchy-feeling "quality paradigm", there is not enough meat here to frighten off the most zealous vegetarian. The chapters on "managing projects" and "facilities management" are especially shallow.
Product Description
"Although it is the best forecasting tool in existence, the Wave Principle is not primarily a forecasting tool; it is a detailed description of how markets behave. Nevertheless, that description does impart an immense amount of knowledge about the market's position within the behavioral continuum and therefore about its probable ensuing path." - Prechter and Frost; chapter 1, p. 19
Customer Reviews:
A must read book for position traders.......2007-09-23
This book is awesome, it teaches you a way of technical analysis that nobody else can even imagine. It implies that the markets are patterned, and that those patterns repeat themselves in all time frames, from 1 day to even 5 years or more.
Elliott Wave consists of 13 basic patterns. These patterns are formed by waves and/or market movements. If you can learned to recognize this patterns you can make a lot of money by been able to identify the next move.
Elliott wave analysis has rules and guidelines that will help you to know where to place your stop, how to recognize these patterns, how to make the correct wave count within these patterns, will give you the tools to predict price objectives and time frames for those price objectives, and a stop or a limit that will negate the whole thing if been wrong. The result is method that offers high probability trades that works the majority of the time if you are a discipline investor.
This book alone won't be enough to make you a great trader, but it would improve your trading dramatically. One tip, you need to learn to validate those wave counts and/or patterns by using several technical indicators that should show certain divergences in certain faces of those patterns and/or waves. The combination of Elliott Wave analysis with traditional Technical Analysis beats any other form of analysis you can possibly imagine.
In longer time frames, you need to combine those two with economic cycle theory. I like the Princeton Model. And see the charts and technical indicators in weekly or even monthly basis, and probably in logarithmic scale.
Some said that Robert Pretcher was wrong by calling the market top in 2000. Well he wasn't, neither the S&P 500, nor the Nasdaq has regained their 2000 highs, in more than 7 years. And in real terms, as well as in gold terms, the DJIA is still below its 2000 highs.
But indeed that doesn't matter to me, I am a position trader, an options position trader, I buy calls and puts, and create spreads, with time frames of two to four months. And believe me, the only way to win with options these way consistently, or at least, most of the time, and grow your money fast and quickly is by using Elliott Wave analisys. If you don't dominate this technique, stay away form options. If you do, be discipline, and trade only deep in the money options.
Appling it in for real is a little more difficult than understanding it, and it could probably take several months to learn to do it correctly and to obtain good results consistently, that is assuming you are already a fairly good market technician and have several years of experience investing in the market.
Well, it works for me, so I hope it would work for you too.
Good luck.
Book Description
The valuation of assets, both tangible and intangible, is an important element of corporate finance. Putting a price tag on ideas is almost impossible, and in the new economy, where companies grow dependent on intangible assets all the time, market volatility can be attributed in large part to our collective ignorance of their value. There are two basic approaches to valuation: from financial statements to cash flows, and from cash flows to financial statements. The former projects historical financial statements into the future and the latter attempts to construct cash flow statements and use them in forecasting future financial statements. Established companies use the first method and start-ups the second. In Principles of Cash Flow Valuation, the authors strive to "close the gap" between these two approaches by presenting the principles of cash flow valuation and cost of capital in a clear and systematic fashion.
* Provides the only exclusive treatment of cash flow valuation
* Authors use examples and a case study to illustrate ideas
* Presentation appropriate for a range of technical backgrounds: ideas are presented clearly, full exposition is also provided
* Named among the Top 10 financial engineering titles by
Financial Engineering News
Customer Reviews:
Tools for constructing integrated and consistent business valuation models.......2006-04-21
In the modern business environment, one of the most important tasks for CEOs and CFOs is related to the development of integrated and consistent business valuation models.
Tham & V?lez Pareja`s book is a well-oriented proposal in that sense and could be judged for what it has to offer: an organized and specific approach for structuring and valuating the firm cash flows with a special treatment in Non-Traded firms, and from that point of view a useful tool for fundamental valuation in emerging markets.
The authors begin with a definition of basic concepts in market-based cash flow valuation and a brief review of financial statements and accounting concepts, before explaining in full detail the integrated approach for the construction of four interrelated proforma financial statements: the Balance Sheet, the Income Statement, the Cash Flow Statement, and the annual Cash Budget Statement. These four financial statements form the basic building blocks for the valuation exercise.
Aditionally, Tham & V?lez Pareja have exposed several methods for deriving the firm cash flows. Special emphasis is given to the five advantages of deriving the Free Cash Flow from the Cash Budget Statement: simplicity, usefulness as a managerial tool, consistency, representation of reality and flexibility for purposes of sensitivity and scenario analysis.
Next, the authors have examined some critical issues related to the calculation of the Terminal Value and have exposed the need to guarantee the amount of reinvestment for growth in the Free Cash Flow, showing the importance of specifying the ROMVIC (Return on Market Value of Invested Capital).
The last part of the book is very useful from a practitioner?s point of view, because the case study enables the application of the main topics in the book.
This is not a book about sophisticated tools for valuing real options. It?s a book about how to construct integrated and consistent corporate valuation models, a simple but usually ignored necessity of good corporate financial models.
I would recommend the book to those who clearly understand the main topics of business valuation and its role in corporate finance, and are open-minded to new proposals in a well known field.
JUAN CARLOS GUTI?RREZ B.
FINANCE PROFESSOR
EAFIT University
Medell?n, Colombia
Cash flow and cost of capital in one theoretical system. .......2006-04-17
If you need to understand the basic fundamentals of valuation, Principles of cash flow valuation, an integrated market-based approach, is the book you need.
The book thoroughly describes valuation techniques, explaining the theory and giving comprehensive examples. Techniques for translating the financial statements into free cash flows and variations of the discounted cash flow approach are well described in a pedagogical way. Few books put the topics (Modigliani-Miller propositions, CAPM, tax shield, investment, cost of capital) in one theoretical system.
Plus, Professors V?lez Pareja and Tham maintains a free website where you can find valuation and cost of capital models.
Principles of cash flow valuation is a rigorous, detailed textbook on topics in valuation for Master finance courses.
A comprehensive treatment of DCF.......2006-04-05
In my view, this is an excellent textbook for students who are either becoming acquainted with the discounted cash-flows technique or would like to freshen up their knowledge in the subject.
Waste of money.......2005-12-11
If you have basic understanding of accounting, you won't learn anything from the book.
Product Description
An enlightening and educational book that succinctly communicates the practical aspects of forecasting. It is written with practicing forecasters in mind, yet is simple and easy to understand so that a person with little or no background in statistics can follow.
Book Description
In the same way that Machiavelli, and Sun Tzu before him, exploded all existing ideas about strategy in
The Prince and
The Art of War,
The Master Strategist cuts across politics, economics and business to set out a new and compelling way to think about strategy for a peaceful, prosperous and more free future.
We stand at a point in history where we can have almost anything we desire. Our ability to compute the underlying equations of everything — our genetic code, the structure of matter, the nature of time and space — promises to enable us to enter a new era of miracles. The ability to create new weapons that can reach any enemy promises to enable us to wage any war. Learning how to harness and direct this capability is now critical if we are to forge a better future.
It is in Man’s nature to dream and aspire and then to endeavour, deceive and fight to achieve his dreams and aspirations. Strategy is merely the word we give to the thought that goes into determining how we will prevail.
Ketan Patel, founder and head of the Strategic Group at Goldman Sachs, meets with leaders in international business, investing and government policy every week. This unique access to people at this level has given him the opportunity of discussing with them some of the most fundamental questions facing us, in particular, the strategies for creating peace, prosperity and freedom.
The Master Strategist explains why our current approaches to strategy are failing to create a world where power, purpose and principle are exercised to produce global peace, prosperity and freedom. It sets out the agenda for a new approach to strategy that will be compelling for strategists from the White House to Wall Street to the streets of London, Tokyo, Shanghai, Mumbai and beyond.
Customer Reviews:
A Commendable Start.......2007-02-22
This is a commendable start to a discussion that is long overdue. Why are inhabitants of this planet failing so miserably to develop themselves -- and improve conditions on the planet? Most of us should be able to step back and develop a comprehensive plan for going forward. Instead, we remain trapped in institutions that are ineffective and downright dangerous. As the author points out, all of our dominant institutions have failed to deliver the goods.
I rated the book at 4 stars because I thought that there could have been fewer lists and more detail on how we develop the power to implement strategy that is effective. (Is this power to be achieved by starting up a new investment management firm as the author has done?)
One of the keys to making a strategic shift is likely found in the background and interests of the author himself. He draws inspiration from both Eastern and Western traditions and has, through his work, been exposed to a diverse range of cultures around the world.
A must read for all Strategy evangelists!.......2006-11-22
As a keen student of Strategy, I found this book in amazing clarity in thoughts and flow. No book had such impact over me after the great article by Michael E.Porter (HBR 1996) - What is Strategy?. That article had broken the myth of Operation Effectiveness being portrayed as strategy.
This book goes beyond C.K.Prahalad with his BOP concept and Prof. Stuart L.Hart (Award winning Article: "Strategies for sustainable World" & Book: "Capitalism at the Crossroads: The Unlimited Business Opportunities in Solving the World's Most Difficult Problems") to introduce strategies that could help us look at the World differently - both as opportunity and threat.
It is a must read for people looking beyond their four walls. All Strategy evangelists must read this book before they preach.
Hats off to Master Strategist!.......2006-11-22
Never since Charles Dickens did in his book "Tale of two cities" with his famous words - "Best of time, worst of times", there was such a convincing depiction of extremes of the today's World. The author has captured these dilemmas in a simplistic manner with examples and methodically tried to solve the big puzzle. Hats off to Master Strategist!
Philosophy of strategy.......2005-11-24
This is a book on the philosophy of strategy. If you're looking for a book on strat frameworks, then you're looking in the wrong place. But if you want to understand what makes a great strategist in life and business, then this book is for you.
The worst book even read.......2005-10-10
This is the worst book I have ever read. The author has no idea what he wants to convey or achieve through this book. It looks like the author is writing a gap analysis in a consulting overdrive.
Anyone reading 'economist' for a year will have better grasp of the topics he is discussing in this book. Pure waste of money, time and energy!!
The book is rated 'F'.
Average customer rating:
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R.N. Elliott's Market Letters: 1938-1946
Ralph Nelson Elliott
Manufacturer: New Classics Library.
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Customer Reviews:
Hmm.......2003-07-09
I'm an avid trader using Elliott Wave as my primary basis of market forecasting possibilities and trade off a specific Wave setup. This book is compilation of Elliott's old subscription based newsletters that teach and predict the market in his time. Commentary is by Prechter who adds some comments and clarifications at the end of each news letter. While Elliott is nearly a godlike status in my mind , I found this book is pointless for trading and learning purposes. Among the many letters and Prechter's annoying hindsight commentaries , you will find bits and pieces of the Wave based principles. I have found most of the useful information to be very basic Elliott wave, which can be found in Chapter 1 of most any modern Elliott Wave book. I also did not follow on many of the wave counts, which break many of the well known modern rules. This is understandable as EW was still in its infancy at the time of writing. Overall, this book has little or no value to a trader.
Book Description
Today we are in the information age. Many of the principles of the art of war that were born of agrarian times and honed during the industrial age are hopelessly outdated. It is already past time for radical change.
Customer Reviews:
The author rates 5 stars as an antagonist, the book 3 stars........2001-02-12
"The Principles of War For the Information Age" is an ambitious book seeking to not only redefine but replace the traditional MOOSEMUSS (maneuver, objective, offensive, surprise, economy of force, mass, unity of command, simplicity, and security) principles of war. The book consists mainly of the author's thoughts with only a few weak historical examples given as evidence. The book does not provide a compelling case for change, but serves well as a thought-provoking essay. One finds enough material to keep the readers' interest to complete the book with an occasional nugget of gold. One has to admire the author's courage in writing the book as an active duty officer. The Army should assign the author to a prestigious military research center or college.
Unique perspective.......2001-01-20
What really impresed me about this book was Leonhard's application of physics terms to modern warfare. Using quantities like "velocity", "momentum" and "mass", he distills modern warfare to its most basic components, and by so doing, offers the foundation for the proper application of maneuver doctrine in 21st century arms.
While perhaps not as engaging as "The Art of Maneuver", "The Principles of War for the Information Age" is another significant contribution to military theory by an outstanding author.
A bit of a disappointment.......2000-12-20
There are some tidbits of wisdom in the soup offered up by Leonhard. Following his excellent The Art of Maneuver, and Fighting by Minutes, Principles begins as a much needed critique of the classical principles of war. He shows with great gusto that many are mutually contradicting, like mass, security, and maneuver. You can't hide a large force, or make it move very quickly. Nor can you hide a moving force.
I suppose Leonhard hoped that his new principles of war would take off, and generate whole new doctrines and policy for the "information age." His Three Laws of War are an excellent step forward in anthropology and psychology, but whether they will be much use on the battlefield or policy centers is unclear.
Rather than scrap aging principles for a new way of thinking, as I had hoped, Leonhard appends several new "principles" to his three laws. Having read his other books with much enjoyment, I was shocked to see him actually state that the quintissential fog of war would be lifted in the information age, especially after the derision he heaped on just that idea in The Art of Maneuver.
Frankly, I would recommend this book to anyone who blindly subscribes to the touted "Principles of War," if only to see more innovative thinking. The latter part of the book, on the "new" principles of war remain to be demonstrated in reality.
A thought-provoking discussion of modern warfare principles........2000-09-05
What are the new ethical and military principles for fighting a war using today's modern machinery and equipment? Principles of War for the Information Age provides a thought-provoking discussion of modern warfare and the new principles of such battle, discussing implications of precision warfare, objectives in war, and civilian and military concerns alike.
Army New thinking is better than old false thinking.......2000-08-07
LTC Leonhard is a brilliant tactician who examines the past, the present and the future simultaneously--a coup d-oeil---creating an understanding of everything far better than cowardly copying the Germans or someone else. He takes what he knows to be true as a current U.S. Army battlefield Commander and applies this experience to fresh thinking far better than any arm-chair wannabe who praises another service that has not done its homework and thought very deep about the issues, but is deep in platitudes. The 9 Principles of war (MOOSE MUSS) as we remember them are actually derived from Clausewitz if another reviewer had his wits about him. They are a guide to thinking no more divinely inspired as the writings of Big Al or the wannabe tacticians of America's sea-based posturers.
LTC Leonhard is one of America's and the Army's best and brightest thinker-warriors who refuses to succomb to the platitudes of the past or the present Germanophiles, who omit in their discussions that maneuverism died in the fortress cities of Tobruk, Stalingrad, Bastogne when it met the defense-in-depth fueled by a nation at total war. We need new thinking not new wine in old wine bottles!
Good work, Sir!
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Principles of Macroeconometric Modeling (Advanced Textbooks in Economics)
L.R. Klein ,
W. Welfe , and
A. Welfe
Manufacturer: North Holland
ProductGroup: Book
Binding: Hardcover
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ASIN: 0444818782 |
Book Description
Two important new developments have occurred that have significant impact on the evolution of econometrics, namely, the end of the Cold War and the emergence of the information revolution in nearly all economies of the world.
The information revolution has had significant effect on data flows, making them much more timely, accessible, and descriptive of more parts of the economy. At the same time, it has changed the industrial structure of many economies, giving rise to increasing importance of the tertiary sectors (e.g. services). The new generation of hardware and software enables econometricians to handle larger and more complex problems, especially those that are data intensive and computer intrusive.
These major events require reconsideration and redrafting of some of the materials of the original edition.
The present volume retains the original structure of "Lectures on Microeconomic Theory" and takes up principles of constructing dynamic macroeconometric models and their use in economic analyses and forecasting, while introducing many updates, revisions and extensions. The description of the econometric methodology has been limited to specific applications of time series analysis, and the title has been changed to "Principles of Macroeconometric Modeling".
The first four chapters discuss the principles of specifying equations of structural macromodels, covering both developed marked economies, transition economies and world-wide models. The remaining chapters cover some major issues in the use of macromodels. The point of departure is model simulation, especially of the prevailing non-linear models, which is followed by model validation. The analysis of model dynamics covers economic fluctuations and the relevant implications of non-stationarity. The use of macromodels in policy analysis is presented next; it includes multiplier analysis and scenario simulations. The monograph ends up with forecasting being a special case of simulation analysis.
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