Ridzwan.Com Book List

Society without God

2009-05-25T21:05:00.000-07:00

What the Least Religious Nations Can Tell Us about Contentment

Society without God is a book by sociologist Phil Zuckerman that looks at the perennial question: what will mankind be if we had no religion?

Religious figures have consistently made the point that without the remembrance of God, society would plunge into lawlessness, immorality and social disorder. However, Zuckerman pointed out that Denmark and Sweden, two countries with the lowest level of religiosity amongst its people, enjoy strong economies, low crime rates, high standards of living and social equality when pitted against its more religious neighbours. According to Zuckerman, this is reason enough to question the status quo of countries and communities which have made religion as their focal point.

To his credit, Zuckerman has made compelling arguments to ruffle the feathers of religious fanatics who have stubbornly refused to budge from their entrenched belief systems.

But Society without God would have been more credible if the author had at least fleetingly identified the spurious personalities that he claimed to have ‘interviewed’ for the book. There are at least several dozen characters mentioned in this book, but sadly none of them seem to suggest even the faintest clue of authenticity. Take for example the character he calls Jokum, a 36-year old head of a small congregation in “a little village outside Aarhus”. As with almost all other persons featured in the book, there is no way to verify if these research subjects are actual persons or just fictitious personas that Zuckerman created in order to support his atheist agenda.

Other than that, the work could have dwelled deeper into other communities within the countries where he conducted his research for the work. Society without God focused too much on counter-claiming the Christian-right that it seemed to have forgotten the current rise of Islam within those very nations. Could the current spate of peace and harmony within these countries have a direct correlation with the increasing number of modern Muslim professionals in the country who are now making their presence felt? These possibilities are not sufficiently explored.

Small Is the New Big

2009-05-11T05:55:00.000-07:00

And 183 Other Riffs, Rants and Remarkable Business Ideas

The title is pretty much self-explanatory. Small Is the New Big is a collection of marketing guru Seth Godin’s blog post over the years. Godin has very original, at times unusual ideas that could give fresh insights to the way we have been managing our websites, people and organisations.

You would have been no better off reading these very same blog posts off the internet using a mobile browsing device – except for the fact that the book does not require a battery.

What Would Google Do?

2009-04-21T00:23:00.001-07:00

What Would Google Do is an attempt by blogger extraordinaire Jeff Jarvis to show how different sectors of the economy could benefit if they start to adopt the strategies that have made the world’s most popular search engine what it is today.

Companies and Government organisations, irregardless of the sector they are in, should adopt “Googly” techniques fast or risk losing their edge in the current connectivity climate. This is because, according to Jarvis, the balance of power has shifted to the public. Transparency, exclusivity and inaction can no longer work in an environment where privacy is scarce and everybody’s life has gone public.

Jarvis has presented several intriguing but original ideas which could be applied across several sectors in our economy. But the chapters slowly turn into an uncontrollable and bizarre rant towards the end of the book where the author suggested that Governments should take the cue of Google and abolish all manners of confidentiality and secrecy. These erratic ramblings become especially apparent as Jarvis began taking cheap publicity shots at his website address and name as the ending chapters progressed.

Outliers

2009-04-09T00:13:00.000-07:00

The Story of Success

Malcolm Gladwell was recently named as one of Time Magazine’s 100 most influential people of the century. I have thoroughly enjoyed his works like ‘The Tipping Point’ and ‘Blink’. So when ‘Outliers’ made it to the bestsellers list, the temptation to own the book for myself was just to great to resist.

‘Outliers’ is a study of people who fall outside the ordinary. These include geniuses, prodigies and individuals who achieve so much more than the others around them. We have all met them before. But not many understand why some have been born to earth with seemingly more intelligence and ability that the others around them.

People become extraordinary not because of what they do, but because of who they are. This is the main argument behind the book. There is a reason why the Chinese are superb at Mathematics, why Jews do so well in life and why certain ethnicities are more prone to crime than others. While these stereotypes may seem all too familiar, this is the first time an author has gone as far as to breach taboos and social politeness to honestly examine what is it that makes us who we are.

‘Outliers’ is a masterpiece social commentary that will captivate you from cover to cover.

Palestine: Peace Not Apartheid

2009-03-31T03:05:00.000-07:00

Palestine: Peace Not Apartheid is President Carter’s personal reflection on the troubled region and the trials and tribulations that he went through in attempting peace for the Middle East. More specifically, President Carter highlights the issue of how Palestine is being systematically dissected and intra-segregated in a form of legalised racism and murderous apartheid which the world has chosen to ignore. Jimmy Carter served as the 39th President of the United States from 1977 to 1981.

The blockade of Palestinian territories with impassable concert walls and barriers is plainly an attempt at apartheid and it should be stopped by the international community, argues President Carter. It has torn lives apart, prevented children from going to school, confiscated farm land, and alienated water sources with which Palestinians depend on for their livelihood. These would only further exasperate the Palestinian people and form perfect breeding grounds for radicalism and terrorism.

The book deals with the subject in a very exhaustive yet concise manner. President Carter starts with a history of the area from the days of the 1919 Paris Peace Conference where Jewish Zionist representatives demanded that a homeland be created exclusively for the Jews out of Arab land. At that time, the Ottomans had surrendered the area to the British as an outcome of their defeat in World War I.

Systematically over the decades, Arabs were slowly driven away from their homes and their lands confiscated for the establishment of the state of Israel in 1948. Peace has been elusive in the Middle East since.

Peace Not Apartheid was published in 2007 against the backdrop of yet another round of hostilities between Israel and Lebanon. Hezbollah operatives took an Israeli soldier hostage in response to the blockade imposed by Israel on the Palestinians. Lebanon was promptly invaded at the cost of thousands of civilian casualties, while the world looked on.

Unfortunately Peace Not Apartheid was picked up in a clearance bin at Borders where it was going for $9.90. It seems that non-interest in Middle Eastern lives persist in all corners of the globe, judging from the amount of obscurity this gem of a book has received on our shelves.

Myths of Free Trade

2009-02-28T20:51:00.000-08:00

Why American Trade Policy Has Failed

Sherrod Brown is currently a junior United States Senator from the State of Ohio and a member of the Democratic Party.

More than a decade after the North American Free Trade Agreement (NAFTA), the majority of Mexicans are still living in poverty while more than one million American jobs have been lost. Free Trade is a false dogma that Brown has set out to dispel myth by myth in this timely work. From the coffee fields of Nicaragua to the sweatshops all over Asia, Brown illustrates very well with real examples of how Free Trade has benefited a select few while exploiting the majority of the worlds’ population , often with devastating effects.

The book is well written but it needs more organisation. Concepts are duplicated and sometimes repeated over throughout the book. At times, this makes the work seem like a helpless Democrat agenda as arguments are imbalanced and often portrayed to the author’s benefit. Nonetheless the problems highlighted are real and it is about time the leaders of the world take notice.

The (Mis)behaviour of Markets

2009-02-28T19:58:00.000-08:00

A Fractal View of Risk, Ruin and Reward

Benoit Mandelbrot is a Polish Mathematician more commonly known as the father of Fractal Geometry, an eccentric branch of science that deals with the identification of patterns in everyday lives.

In the (Mis)behavoir of Markets, Mandelbrot attempts to apply theories of fractals onto economic phenomenon like the ups and downs of the stock market. If you look closely, he argues, the charts of stocks and indices is very much a continuous fractal and has bearings that can predicted by the diligent observer. Mandelbrot illustrates this point convincingly by comparing current and past economic crisis on a fractal chart.

However if you are looking to make a quick buck out of the fractal theory, you may wish to give this book a miss. The work is highly academic in nature and the immediate application of its theories onto a generic stock is highly suspect. While the fractal theory may work to describe the market in general, the average investor will be better off applying fundamental knowledge of the asset he wishes to invest in instead of trying to read into abstract patterns.

The (Mis)behavoir of Markets is a pleasant read and has been written with the general audience in mind. There are few mathematical equations to bog your head as most of the theories are explained clearly via diagrams.

Muhammad

2009-01-28T23:46:00.000-08:00

Prophet of Our Time

Muhammad may have lived over 1400 years ago but the message that he brought upon his people changed the course of human history forever. Today Islam is the fastest growing religion in the world, a far cry from its obscure origins in the undergrounds of Mecca.

Plenty has been written about Muhammad, the Prophet of Islam. But most of these accounts are either laced in deliberate puffery or shrouded in vile contempt. Few sources could tell the life of Muhammad from a neutral, unbiased point of view.

Karen Armstrong, best selling author of A History of God, has successfully drilled beneath this layers and present to you the true origins of a religion that has often been painted in abhorred tones. Prophet of Our Time is exhaustively researched to present all sides of the men most Muslims have grown to assume they knew. Plenty could be gathered from his frustrations, his sadness and his moments of joy, as opposed to just listening to his romanticised tales of valour and miracles.

Assault on Reason

2009-01-08T23:39:00.000-08:00

Assault on Reason is the latest work by the former vice-president of the United States and follows such hits as The Inconvenient Truth and Earth in the Balance. But the works harps little on the environment. Instead the maverick author turns his sight on his other bug bear: The Bush Administration.

Gore details out how myopic President has deliberately suppressed the truth over the last 8 years and “assaulted” the average American’s ability to think. This, Gore argues, has been done systematically over the years via intricate brainwashing strategies and media propaganda that has left the Yankees dumb.

While the subject may seem like thinly disguised Democrat propaganda, Al Gore’s Assault on Reason comes across as a riveting read. Each argument is augmented with ample evidence and previously unpublished information and transcripts from within government sources. Highly entertaining from over to cover though the average reader should exercise caution towards the heavily left-leaning agendas in the book.

Plato for Beginners

2008-12-04T01:00:00.000-08:00

Plato for Beginners is a coffee-table skimming book that aims to introduce the basic history of Philosophy in the context of Greek philosopher Plato and his teacher Socrates.

The title features plenty of illustrations and very little text in the effort to make the book easily palatable at all levels of readership. In fact it feels like skimming through a comic book – a refreshing approach indeed to a traditionally dry topic. Concepts of Platonic love, wisdom and beauty are explained in what is considered abstract philosophy in entertaining visuals and cartoon forms. On top of that, readers will also be able to take a peek at the ancient Greek ideals of a perfect society and the pillars that good governance is supposed to be built upon.

Entertaining skim but it’s a little too shallow for my liking.

The Devil We Know

2008-11-19T18:24:00.000-08:00

Dealing with the New Iranian Superpower

Robert Baer’s The Devil We Know is the most original and riveting documentary on the Middle East this decade has seen. As a former CIA agent operating deep within the bowels of the Persian Gulf, perhaps none will be as qualified to make the commentary and observations that he espouses in this timely classic-in-the-making.

Baer comes with a dire message in this book: Iran is growing to be a world superpower and America is too helpless to do anything about it.

According to the author, the invasion of Iraq by American forces in 2003 is exactly what Iran has been hoping for. With the Sunni regime in tatters and the Americans too weary of war to do anything more in the Middle East, the Shiites are poised to fill in the power vacuum in the Persian Gulf.

While Iran’s current President has been portrayed as an anti-Semitic loon by the Western media, the author argues that his erratic behaviour is a deliberate façade by the real rulers of the country- the Ayatollahs. The concept of making facades and throwing the enemy of-guard is very much a mainstay of the Shiite culture, says the author. Indeed, the West has been very much kept in the dark with regards to what is happening in Iran and how it has progressed as a military power in the Middle East thus far.

The book also comes with detailed analysis on the wealth and reach of this elusive Persian nation and how it has secured billions of dollars in arms deals with China and Russia in return for its vast arsenal of oil. History buffs will also be please with the complete chronicle of the nation from the point it emerged as a hard liner in the Islamic revolution of 1979. Iran will never be as you have seen it from Western eyes.

Hide a Dagger behind a Smile

2008-10-13T23:50:00.000-07:00

The 36 Stratagems is an ancient Chinese literature which has been devised over the course of 3000 years. They have been widely used in the past by medieval generals and rulers to overcome their respective enemies in what was a largely feudal nation.

Author Kaihan Krippendorf has chosen to interpret these stratagems in the context of the modern business world and illustrate them against real life examples. Each strategy is accompanied by a chosen event in modern business history and narrated in the angle in which the proverb seems to fit. With dubious sounding strategies such as “Hide a dagger behind a smile”, the author seems to condone the practice of employing trickery, hypocrisy and debauchery in doing business.

While it makes for an interesting read, it remains unclear if the morally-questionable strategies deployed by these companies mentioned were deliberately intended to work in the way which the author has interpreted them to be. Nonetheless, crucial business landmarks like the battle of Pepsi and Coca –Cola have been entertainingly documented.

While America Aged

2008-10-03T23:49:00.000-07:00

How Pension Debts Ruined General Motors, Stopped the NYC Subways, Bankrupted San Diego, and Loom as the Next Financial Crisis.

The origins of the current financial turmoil may be difficult to comprehend. But the roots of what will possibly be the next will be clear for all to see.

Governments and private companies have pledged to provide pensions for a growing number of elderly that could no longer be supported by a dwindling population of the economically active. For decades, workers have enjoyed full income with no work once they hit the golden age. Some have gotten away with up to 30 years of no work and free money. But now the pool is running dry and someone has to foot the bill.

America’s pension problem has manifested itself in several industrial and municipal disputes. Author Roger Lowenstein has meticulously documented them in an almost blow-by-blow fashion. ‘As America Aged’ offers a historical perspective into one of the most significant economic issues facing tomorrow’s generation.

The problem takes on more intricate dimensions considering the amount of debt that the boomer generation has been piling on these past decades. Sadly this angle has not been addressed by the author. What happens when they to join the retirement band and start to claim pensions? The crisis is looming but few have realised the inevitable.

Houseonomics

2008-09-10T00:56:00.000-07:00

Why Owning a Home Is Still a Great Investment

Don’t be misled by the sub-titles. This 214-page book devotes very little attention to the subject it vows to take up on its front cover. What you will find instead is a how-to-sell-or-buy-a-house guide.

The book has been published in the backdrop of a slumping US housing market and sub-prime mortgage crisis. Given such circumstances, the avid reader would have somehow expected this theme to be given its due share of discussion. You will be disappointed if this is what you anticipated.

Fiscal discussions are shallow at the very most. The authors have not gone past “because you will save money on rents” as the main reason why one should buy a house. The rest of the book dwells on real estate jargon and numbers to make up the rest of the remaining pages. Somebody should have shelved this under the DIY section instead of the investment section.

Finding the Next Starbucks

2008-09-03T07:48:00.000-07:00

How to Identify and Invest in the Hot Stocks of Tomorrow

Much has been written about “economic moats” and how the astute investor should always look out for one when making the decision to invest in a particular company. Some have chosen to identify this moat purely via technical analysis while others are bent on doing it via the fundamentals.

Author Michael Moe gives a different perspective on the economic moat through a concept he calls the 4 “P”. Choosing a good company to park you money in is a delicate balance of good people, product, predictability and profits. A much more thorough dissertation of this theory is covered amply in the book, complete with real-life example of actual stocks.

Not bad for a beginner investor but I would imagine the hard core technical analysts to frown over the highly fundamental orientation of the book. Nonetheless, it makes for a very enjoyable read.

Commodities for Every Portfolio

2008-08-03T07:45:00.000-07:00

Commodity investing is mired in a myriad of stereotypes. Most have associated this asset class with high risks, poor returns and complicated transactions. Author Emanuel Balarie is on a mission to dispel these myths in his latest work, Commodities for Every Portfolio.

The basic premise of the book is deceptively simple. The commodity investor has very little to lose because despite how volatile markets may be, the value of a commodity will never go down to zero. The same cannot be said of any other financial instrument, including cash and equities.

Despite its relative obscurity, I feel that the work is splendidly written. Chapters are given ample time to develop before the author moves on to the more complicated instruments such as futures and derivatives. A special focus is given to gold, in tandem with the author’s high regard for this asset class. The book ends off with a brilliant analysis of the different types of commodities available and its potential pitfalls.

The Dick Davis Dividend

2008-07-03T07:14:00.000-07:00

Most of what I read is obtained from the public library. There are very few investment books that I would personally own. The Dick Davis Dividend is one of them.

Davis condenses over 40 years of financial journalism experience into over 400 pages of profound yet comprehensive investment discourse. A clear departure from convention, Davis drives home his points free of classic economic theories and much repeated clichés. Instead what he relies upon are his own meandering experiences dabbling in the stock market from a rookie journalist to the esteemed veteran he is today.

Poisoned Nation

2008-06-30T08:21:00.000-07:00

Pollution, Greed and the Rise of Deadly Epidemics

In July 2005, a renowned non-profit organization known as the Environmental Working Group conducted a study on newborn babies in US hospitals. They found 287 industrial chemicals and pollutants in the umbilical cord blood taken from a sample of ten babies. These chemicals included pesticides, flame-retardants, chemicals from non-stick cooking pans and plastics. On average, each baby has been exposed to 200 chemicals even before they were born.

Since when did we and our babies have so much chemicals swimming in our blood? It could be due to the fact that we have taken the chemicals around us for granted. It could also be that the interests of big corporations have taken precedence over the common man’s right to breathe in fresh, unpolluted air. Author Loretta Schwartz-Nobel shows us that it’s usually a lethal combination of the two.

Poisoned Nation is a thoroughly researched work that dwells upon real-life accounts of people who have suffered and died directly because of pollution and chemical poisoning. These include the rapid rise of cancer, autism among children and pollution related deaths worldwide. Through first hand interviews with ordinary citizens and environment experts alike, the issue of how so many different chemicals are now residing in our blood is given a much-deserved and through discourse

Immensely riveting read and highly recommended.

Debt for Sale

2008-06-20T20:39:00.000-07:00

A Social History of the Credit Trap

The business of giving credit is a very lucrative one indeed. Banks and lending institutions often go the extra mile in trying to hand you that credit card or loan facility.

But today, they have ventured beyond the usual clientele of middle class workers and convenience users. What has proven to be more aggressive is making loans to those who do not deserve credit in the first place – the poor, uneducated and financially imprudent. By offering loans to these usually marginalised strata, banks have the excuse to charge a higher interest rate to compensate for the heightened risks involved.

This system of predatory lending is taking its root deep into the American society and author Brett Williams is right on the money with her thorough analysis and insightful interviews. Highly recommended read.

Greenspan’s Bubbles

2008-05-31T23:46:00.000-07:00

The Age of Ignorance at the Federal Reserve

Before you pick up Alan Greenspan’s latest memoir, The Age of Turbulence, it may be a good idea to get your hands on this title first.

Greenspan’s Bubbles is an obvious reference to the recent economic calamities which have been blamed on the former Federal Reserve Chairman. It serves as a blistering anti-thesis to the Maestro’s policies over the decades which the authors have pointed out as the main reasons why America and its people are in so much economic trouble today.

Much of the book concentrates on the recent technology bubble that gripped investors early this decade. In a blow-by-blow narrative fashion, the authors have detailed very carefully numbers and events that led to the speculative bubble and how they tie in with the Fed’s fiscal incompetence. This includes the Federal Reserve’s oversight in injecting liquidity into the market at a time when people were irrationally exuberant – to borrow a term that Greenspan coined himself. There is also a chapter on the very recent sub-prime mortgage crisis and the property bubble.

The work is relatively short and can be read cover to cover in less than a day. Nevertheless it makes for an intriguing read and offers a very different view of the man who everyone else is singing praises for.

Super Stocks

2008-05-20T18:29:00.001-07:00

This is one of the titles that I wish I had caught when I was much, much younger. Not that 28 is a bad age to be reading this book. But looking back, so much more could have been done back then with the excellent analytical tools that Ken Fisher espouses in this outright investment classic.

Super Stocks has been slightly revised from its 1984 edition, though not much has been changed in terms of contents.

While the world was obsessed with cliché indicators such as the Price to Earnings (P/E) Ratio, Ken Fisher is the rebel who first defined and pioneered the technique of using the Price to Sales Ratio (PSR) and Price to Research Ration (PRR) as primary forecasting tools. The technique has been remarkably accurate as you will see in the clearly given examples.

Besides the discussion on numbers, Super Stocks takes a look Fisher’s forays into the technology stocks of the 1980s. The details on how he managed to get in right at the bottom of Stellar companies like Verbatim makes for a very compelling read.

Why the Poor Pay More

2008-05-11T07:01:00.000-07:00

How to Stop Predatory Lending

People are getting into the debt at an alarming rate in the United States. While pundits have often blamed this on the American lack of frugality and financial responsibility, a group of economist are pointing their fingers to another culprit-the predatory lending institutions.

By definition, predatory lending is when credit is extended to those who do not deserve credit. These include the low income, the uneducated and the financially illiterate in general. These people are in turn charged exorbitant interest rates due to the extra risks that financial institutions have to bear with regards to these credits.

What results are chronic poverty and widening income gaps. The poor are perpetually trapped in a cycle of debt while the rich enjoy lower rates on credit which far better terms.

The book is a series of essays that documents several studies on the subject. Most have suggested viable solutions but it remains to be seen if the measures will be implemented in the near future.

Islam and Mammon

2008-05-11T06:12:00.000-07:00

The Economic Predicaments of Islamism

Why is it that despite the tremendous amount of wealth that has been created over the centuries, Muslim nations still remain economically backward? Could it be due to the fact that Muslims have stayed away from conventional investments for fear of interest? Or is it a general failure of Muslims in general to truly embrace capitalism in favour of more “Islamic” economic systems?

Timur Kuran discusses these issues in a series of well-researched essays compiled in this timely book. In them, he explores the notion of Islamic Banking, the Muslim charity system and their various pitfalls which he believes has a part to play in the current state of Muslims today.

Some topics may be highly controversial, especially with regards to the discussions on “Islamic” banking and interest in Islam. Nonetheless the work successfully questions conventional wisdom and I would recommend it to everyone wishing to embark on Islamic banking or any other Islamic financial product that is widely sold in the retail markets today.

Shortchanged

2008-04-19T21:11:00.000-07:00

Life and Debt in the Fringe Economy

How is it that Americans have gotten into so much debt in so little time?

Most would point the finger at the credit card culture that has engulfed the America way of life. But there is so much more than just credit cards in this current equation.

Professor of Social Policy at the University of Houston Howard Karger sheds light on a parallel economic universe of credit card users, payday lenders and pawnshops who lure the poor and middle class of America into a constant diet of debt.

Karger argues that the highly deregulated financial sector in the US, coupled with mindless consumerism has brought about the current debt generation. By all accounts, the crisis is set to worsen with little being done to alleviate the situation.

The work is an essential reading for anyone who wants to see for themselves how predatory economic practices have plunged the nation into a spiral of debt and poverty.

The Four Pillars of Investing

2008-04-18T01:46:00.001-07:00

William Bernstein is also the author of The Intelligent Asset Allocator. While his previous book did not do as well, The Four Pillars of Investing propelled him to imminent infamy.

Bernstein has done a magnificent job with his four theories. Whether you’re just starting out on your portfolio or have roughed it out as a seasoned investor, you will definitely take something from these four pillars.

The first pillar is the need to know certain inalienable investment theories. Like how great returns must always come with great risks and why you must never believe anyone else who tells you otherwise.

The second pillar is the need to know history. Events such as the South Seas Bubble, to more recent ones like the dot com mania are discussed. Bernstein stresses the importance of knowing the past so that you may never repeat it in the future.

The third pillar is the need to know the psychology of investing. Bernstein explains how the investor’s greatest enemy is usually himself. Most investors just are not psychologically built to handle the volatility of the market. In mishandling psychology, they lose money.

The final pillar is the need to know the investment business. Bernstein reminds us that mutual fund companies and investment professionals have interests that do not run parallel with our needs. Bernstein is a strong advocator of the independent investor and low cost index funds.

Overall its an enjoyable read with highly narrative commentaries despite the inundation of numbers in some parts. Highly recommended.

The Battle for the Soul of Capitalism

2008-04-10T19:46:00.000-07:00

If you still think that mutual funds and unit trusts are still the best investments around, try having a shot at this book. It may alter your reality forever.

The Battle for the Soul of Capitalism exposes the decadence and corruption that takes place in the mutual fund industry and how you, the individual investor, lose out ultimately.

In his timely classic, John Bogle argues that mutual fund companies these days have interests that do not run parallel to yours and how they have been trying to outdo each other in terms of volume while paying little attention to the average investor. On top of that, employee compensations in mutual fund companies have been hovering at obscene levels in the form of “management fees’ while ultimately are chipping away at investor returns. Among the interesting issues pointed out is the fact that mutual fund returns has been dwindling while employee pay at these same companies are sky-rocketing through the roof.

As founder and former CEO of a mutual fund company, John Bogle is perhaps more than qualified to speak on the matter. On top of that, he has a no-nonsense and straightforward approach to the touchy subject of corporate America’s employee’s compensation. This makes for a very entertaining read indeed. Highly recommended.

The Big Investment Lie

2008-03-12T08:51:00.000-07:00

What You Financial Advisor Doesn’t Want You to Know

In this riveting book, Michael Edesses tries to show you why people who invest in mutual funds and unit trusts are simply throwing their money away.

The theme of the book is something that resonates very well with me. I have been trying to tell friends and colleagues alike that investments in mutual funds and unit trusts are simply a waste of money with the financial institution as the primary benefactor, not the investor. Worse still are those who engage “financial planners” to help them buy these conniving products.

Many do not realize that financial institutions out there are collaborating in hatching schemes after schemes to strip you off your money. Better still, these schemes have been cleverly disguised as investment products that the public happily laps up.

Michael Edesses holds a Doctorate in Mathematics and through his scientific reasoning by numbers shows you why everyone is better off as a DIY investor. But if you are expecting charts and boring numbers you will be disappointed. The author has a gift in writing that is as profound as his talent in mathematics. Each chapter is a joy to read and will keep you tucked in your seat for a considerable part of your evenings.

Read the book before you buy another mutual fund.

The Best Real Estate Advice I Ever Received

2008-03-03T07:38:00.000-08:00

Though it carries the distinctive brand name, the book isn’t exactly written by Donald Trump himself. In fact, all he wrote in this title are just 2 pages of introduction.

What you will find instead are 100 essays written by Trump’s handpicked list of the brightest and most experienced people in real estate today. These range from founders of prominent real estate houses to top brokers in property deals. These include his children Donald Trump Jr. and Ivana Trump, and winner of the first season of The Apprentice – Bill Rancic. Each has written about The Best Real Estate Advice they have ever received throughout their illustrious careers. Whether you are a novice wanting to find out more about real estate or a seasoned speculator, you will find nuggets of wisdom in the advice given.

The essays range in length. Some go on for a few pages while others prefer to dote on only one sentence. Nonetheless, you will find them to be a reading pleasure.

The Jewish Phenomenon

2008-02-25T09:00:00.000-08:00

Consider this amazing fact: Jews make up only 2% of the American population. But yet they control a large part of the American economy. Steven Spielberg, Ralph Lauren. Michael Eisner, Michael Dell -just to name a few influential Jewish names.

They're all fabulously wealthy and they are just the tip of the iceberg of the Jewish success story who have not only conquered America, but also very much of the world. Their global economic might is the main reason why the Israelis have been able to throw their weight around at countries hostile towards its land and its people.

But how did the Jews become this way? They were a much hated group for thousands of years from the tike of Moses to the time of Hitler; Jews have been prosecuted in all ways imaginable. How did they dismiss widespread hatred and discrimination and rise to become the most powerful people today?

The Jewish Phenomenon is a book by Steven Silbiger that I first read in 2000. Recently I’ve decided to give it another reading.

It’s a message that I have been preaching to my peers. Instead of bemoaning the fact that Jews are “oppressors of Palestine” and killing innocent babies, we should instead study the people. What is in the Jewish way of life that propels the community forward? Particularly interesting is the study of how the Jewish culture have elevated them to where they are today through commerce, industry and clever manipulation of circumstances.

The Jewish Phenomenon is a 256-page hardcover that will keep you riveted throughout the read. An essential material for leaders, policymakers and just about anyone who would like to improve the well being of their community.

The 17 Indusputable Laws of Teamwork

2008-02-25T08:33:00.001-08:00

Best selling author John Maxwell has written extensively on the topic of leadership and influence. His titles have so far revolved around the topic of the individual and how he can make himself an indispensable at work. But what’s a leader without his team?

Maxwell has finally delivered on this much awaited yet crucial element with this work titled The 17 Indisputable Laws of Teamwork. Here, Maxwell examines team dynamics at work and why it takes every individual member for a team to truly move forward.

Several excellent examples and anecdotes have been quoted in this book including high-profile corporate success and failures. An overall interesting and pleasant read despite the seemingly dry title.

Developing the Leader Within You

2008-02-18T07:55:00.000-08:00

Reading Developing the Leader Within You, one cannot help but notice the unchanny resemblance between the phrases used in this book and the clichés that our leaders love to repeat in the parliament. One can’t help but wonder if the ministers have been reading up John Maxwell during their free time.

Developing the Leader Within you tries to position itself as a sequel to the original hit by Maxwell, The 21 Irrefutable Laws of Leadership. As the norm with the author, the work is peppered with plenty of colorful anecdotes and first hand accounts that deliver the lessons in an unforgettable package.

Overall the work offers very little from the original 21 Irrefutable Laws of Leadership reviewed earlier last month. It is by far the most classic product by John Maxwell and I figure that it will take a while before its dethronement.

Becoming a person of Influence

2008-02-15T07:51:00.000-08:00

Like it or not, we grow up being influenced by plenty. It may be events, experiences or even places. But one thing that shapes our character more than any other factor is the people around us.

But more importantly just as much as you will be influenced by others, you will be doing some influencing yourself. Recognizing influence as one of the most important ingredient in the leadership cocktail, author John Maxwell has devoted an entire book on this subject. Becoming a Person of Influence will cover the different levels of influence and bearing that you will have over your subordinates. Peppered with lively anecdotes, lessons taught in this book would pleasantly stick with you for a while.

A handy guide for young executives and those starting out in leadership positions within their organization.

Developing the Leaders Around You

2008-02-05T07:24:00.000-08:00

The 21 Irrefutable Laws of Leadership may have blazed you the path to being a great leader. But few great leaders leave a legacy.

In order to do that, best-selling author John Maxwell argues that it is necessary to develop leaders as you groom yourself into one. Just as a teacher reinforces her knowledge every time she teaches, leaders just similarly become greater each time they nurture one. This in turn would have the inevitable result of propelling your company, organization or even family onto new heights that would never be reached in any other way.

Plenty of anecdotes but it gets a little preachy towards the end. Good for bedtime reading, especially when you need to fall asleep fast.

The Winning Attitude

2008-02-02T07:13:00.000-08:00

The Winning Attitude could have been one of the greatest works by John Maxwell. But instead of tailoring it to cast a wider audience, the author has decided to make this very much a closed loop discussion on the bible and the virtues of Christianity.

Barely 3 pages would go by without Maxwell quoting a verse or two from the holy book. Reading The Winning Attitude, you could be forgiven for mistaking it as a seminary disguised as a self-help title.

The 21 Irrefutable Laws of Leadership

2008-01-24T20:04:00.000-08:00

Follow Them and People Will Follow You

Despite his popularity, I have consciously avoided Maxwell’s work for his titles smell smack of those corny self-help books.

My foray into the John Maxwell series only started with my previous book review of Leadership 101. I was pleasantly surprised as his works are more towards business and management instead of self-help baloney. After taking in the condensed version of this title, the most natural progression was to read the actual 21 laws itself.

Despite his profession as a preacher, Maxwell’s narrative style surprisingly will not put you to sleep. Each chapter comprises of generous doses of anecdotes, historical accounts and personal experiences. These include real time stories of business gurus like Jack Welch to military leaders such a Collin Powel and George Patton and on to sporting legends such as Michael Jordan.

Each of these personalities has a unique quality that makes each of them a leader in his own field. Digesting each one of this as a lesson will go very far in one’s personal development as a leader.

I particularly enjoyed the Law of the Lid which I found to be undeniably true.

Freakonomics

2008-01-14T17:08:00.000-08:00

A Rogue Economist Explores the Hidden Side of Everything

In a world filled with authors and economists threading to be politically correct, Steven Levitt and Stephen J. Dubner dared to take the plunge on some of the more taboo topics involving race, sex and life in general. Levitt is an economist at the University of Chicago while Dubner is a New York Times journalist.

How does a law on abortion affects crime rate 20 years down the road? Why do white people earn more that the blacks? And for that matter, why do blacks seem to be more inclined to a life of crime, violence and immorality?

Using sophisticated data presentation and several doses of sensibility, the authors present answers to the above questions in a way that you would never expect from a humdrum, politically-correct economist.

The authors have successfully combined their own research with several well-known studies such as the Colorado Adoption Project to discuss matters which are very close to out hearts. Other than that, the book also explores several other interesting issues, like the myth of raising intelligent kids and why your real estate agent is most probably a cheat – complete with economic theories.

Although most of the subject matters are heavily inundated with statistics, facts and figures, the book has remarkably presented them in a very comprehensive yet enjoyable manner.

The book has attracted much controversy. This is expected as the work does touch many a raw nerve with its frank discussions on race and its correlation with socio-economic status. Anti-abortion groups are also up in arms about the author’s explanation on why the recent drop of crime figures in the United States is attributed to a rise in abortions. That very much explains why readers of Freakonomics are eagerly awaiting its sequel. Very entertaining read indeed.

Leadership 101

2008-01-01T20:11:00.000-08:00

What Every Leader Needs to Know

Never one to decline a free reading material, I took the book in gladly when my boss offered to lend it to me. Besides, John Maxwell is an author that I have heard of widely. But the loan is not a free lunch though; I will be summarizing some key points and anecdotes in Leadership 101 to share with the entire branch, and perhaps the entire organization where I work currently.

John Maxwell is a celebrated pastor and author who has written on many topics including relationships, career and pretty much about life in general. In the industry of self-help books filled to the brim with whiny and dubios authors, Maxwell has stood the test of time to be the real McCoy.

But Leadership 101 is not a regular of his works. The book has been designed so that it can be devoured in just one sitting. With just 108 pages, just an hour was needed for me to finish the book. Surprisingly the work is not filled with overused clichés about leadership. It actually does contain some fresh insights and theories with regards to leading your men and some of them can be proven to be useful should you choose to have an open mind. I particularly liked his jargonless style. In summary, a pleasant reading ineed.

Blink

2008-01-01T19:44:00.000-08:00

The Power of Thinking Without Thinking

After finishing the best selling book by Malcolm Gladwell, the most natural progression was to make a line for his next work with the above title.

Blink is about how the human brain often makes up its mind within the first two seconds when being confronted with a situation – and how most of the time it’s usually right in its judgment. Gladwell argues that there is a mental valet there exists in our mind and we should make the most out of it – even if it means making up our minds within a matter of seconds.

Plenty of examples and experiments have been quoted throughout the 277-page work to illustrate this. It includes art curators who managed to spot a fake piece of work to marriage counselors who can tell with remarkable accuracy whether a couple would divorce or remain together just by looking at the couple for a few seconds. Gladwell tells these tales in a very enjoyable narrative style that will keep you riveted throughout your read.

The Tipping Point

2007-12-21T20:08:00.000-08:00

How Little Things Can Make A Big Difference

Much has been written about Malcolm Gladwell's classic from the year 2000. I first picked up the book around the same year but did not had the time to finish it due to a training stint in the army. But I'm glad that i picked it up again recently, not only so that I could finish it, but more importantly having to see how the lessons in this book applies to you as an entrepreneur and a marketer.

Why do some products fail to reach the masses and some move on to be talked about for years to come? Very often, this has little to do with the quality of the product itself. Word of mouth and reputation of a product is very much an engineered effort totally independent on the attribute of the product by itself.

Filled with plenty of anecdotes and intriguing experiments like the Colorado Adoption Program, the work is a very riveting read indeed.

The Big Moo

2007-12-21T19:54:00.000-08:00

Stop Trying to Be Perfect and Start Being Remarkable

Best Selling Author Seth Godin returns with a compilation of essays written by 33 specially selected authors. They include Tom Peters, Malcolm Gladwell, Robert Kiyosaki and Allan Webber.

And they all have a special message for the marketer : the market is getting crowded and it takes a very special quality to be noticed by today's consumers. You can say that the title is very much a spin off of Godin's preceding book titled the purple cow where the author has the exact same message.

Each essay is very much bite sized and will take you no more than five minutes in reading time. Makes for a very pleasurable read indeed. All proceeds from sale of this book will be borne to charity.

The Investor’s Guide to Hedge Funds

2007-12-09T17:46:00.000-08:00

Historically, hedge funds have almost always outperformed major market indices -even during the most recent bear markets. But the rewards are not without major risks and rife controversy. What exactly are hedge funds and why are they so exclusive to only a select group of investors?

Co-written by authors Sam Kirschner, Eldon C. Mayer and Lee Kessler, the 356 page hardcover serves as a good introduction to the seasoned investor who would like to diversify into Hedge Funds.

While the fund may not be available to everyone especially here in Singapore, the book does describe in varying levels of technical detail how hedging works. Some of these techniques can then be applied to your individual portfolio in accordance to your funds, risk appetite and objectives.

Included with the various technique chapters are interviews with actual hedge fund managers who deploy the particular technique. A word of caution though for the rookie investor – the work is pretty technical and will not go down well with beginners. A good knowledge of basic stock market techniques is highly recommended.

The Secrets of Economic Indicators

2007-12-09T17:33:00.001-08:00

Hidden Clues to Future Economic Trends and Investment Opportunities

The title and presentation seems to promise much. One look at it will give you the impression that this is a title that provides a deeper level of analysis towards economic indicators that we read so much in today’s headlines.

Unfortunately the book serves to be nothing more than just a brochure of the various formal economic indicators and industry standards. Each indicator is introduced by just several lines of its origins and what it tracks. This includes the GDP, unemployment rates, manufacturing output figures and such.

Though whimsical details are given on how the particular indicator could be useful to equities, currencies and bonds, this will amount to nothing more than just half a page at the very most. It will be difficult to imagine how miniscule information such as these would serve to tell you “hidden clues to future economic trends”.

Would be useful for the beginner but holds nothing new for the seasoned investor.

Hatred's Kingdom

2007-11-12T22:51:00.000-08:00

How Saudi Arabia Supports the New Global Terrorism

When I discovered that this book has been written by a former ambassador in the service of Israel, the first thing that crossed my mind was its objectivity. After all, the Jewish state is known to be particularly hostile and indifferent towards the influential Muslim Kingdom.

I was not disappointed indeed. Hatred’s Kingdom proves to be nothing more than 309 pages of hogwash propaganda that aims to turn western sights onto a new enemy that they could hate.

Cover to cover, author Dore Gold tries to convince his readers as to why Saudi Arabia is the new crosshair of the United States. Though his research on the extremist movements like Wahhabis are fairly accurate, their role and influence in the Islamic world has been largely exaggerated to fit the agenda of the book. Very often, the exception is presented as the norm and the smallest events have been highlighted to be evidences of Saudi’s malaise towards Americans and ultimately the world

For example, in a bid to support his argument on how the Saudis particularly enjoyed the events of September 11th, he described a visiting entourage of Prince Alwaleed bin Talal as “smirking” while touring the site of ground zero. The Prince was there to present Mayor Rudolph Giuliani a check for $10 million for the victims of the terrorist attack. Coincidentally, I happen to have just watched the entire DVD footage. The Prince and his people were clearly nowhere close to enjoying the sights of ground zero.

Dore Gold dangerously echoes sentiments of anti-Saudists like Thomas Friedman, who coincidentally is also Jewish. One can help but feel the extreme hate and envy these people have towards the wealth and influence of the Saudi state. Nothing captures this more clearly than Hatred’s Kingdom.

The Great Theft

2007-11-12T22:26:00.000-08:00

Wrestling Islam from the Extremists

El Fadl is a professor of Islamic Law at UCLA and is an appointee of the Bush administration to the U.S. commission on International Religious Freedom. While there are plenty of Muslim academics in his position, his astutely vocal stance sets him clearly apart from his peers.

In The Great theft, El Fadl successfully examines how the image of Islam has been tarnished and robbed by a Saudi originated sect known as the Wahhabis.

From its humble beginnings as an unpopular splinter sect till its chance connections with the Saudi Royals, the origins and spread of this ideology has been meticulously documented. Along the way, El Fadl also points the way as to how the teachings of this movement directly contradicts the message of Muhammad and Islam.

Wile this may sound like another tale of the moderates versus the puritans, the book does offer some refreshing perspectives on the events happening around us today – all done in 336 pages.. The only thing lacking in this work that would have made it a classic text is it lack of viable solutions. A recommended read for both non-Muslims and Muslims alike.

The Coming Generational Storm

2007-10-23T08:46:00.000-07:00

What You Need to Know about America’s Economic Future

There is genuine concern regarding the future of America. All may seem fine and dandy on the surface but many do not realise the potential disaster that is brewing beneath.

The country and its people is spiralling into debt. Fiscal policies by the government have so far made no effort to address this. To make things worse, several controversial move by the current administration, like going to war in Iraq, have further elevated situations to beyond critical.

What the book is particularly concerned with is the coming 10 years down the road when the first batch of baby boomers will start to retire and withdraw their pension money. Too may people will be chasing to little money, and too few economically active citizens will be available to support such a high number of retirees. This singular event would have a slow but devastating impact on the stock market.

A good and intriguing read condensed within 302 pages of a hardcover.

Alwaleed

2007-10-23T08:42:00.000-07:00

Businessman, Billionaire, Prince

When you talk about a rich Saudi Prince, the natural assumption would be that he got his loot in the form of Petrodollars. It is refreshing to finally come across one rich Arab who earned his money like a real man.

Alwaleed is a 432-page hardcover that tells a tale of how a Prince, who hails from a broken family, rises up to become one of the most prominent icons in the middle east today. It’s written by former CNN journalist, Riz Khan.

Prince Alwaleed Bin Talal is the fourth richest man in the world with an estimated wealth of a little over US$24 billion. While he may be a descendant of royal connections, the young billionaire got rich through his own sheer determination, grit and a whole lot of cunning.

Several of his exploits have been documented pretty well in this particular biography. A particularly intriguing chapter in this book tells of how he messed around with a bunch of aviation professionals in order to get the best deal for his aircraft fitting works.

With names like Disney, Apple and Citibank under his belt, it sure makes for one very impressive investment portfolio. But the Prince is not a man who rests easily. He is constantly on the lookout for good deals and will spare no effort in manipulating everything and everyone in his path to make sure he gets the best deal. Overall, an entertaining read with plenty of insights and investment advice.

P/s: Be sure to read about his antics in military college and how he punched a teacher in class and was subsequently expelled from school. Interesting stuff indeed.

Ahead of the Curve

2007-10-17T08:10:00.000-07:00

A Commonsense Guide to Forecasting Business and Market Cycles

Joseph H. Ellis has over two decades of dabbling in the stock market. Over the years, he argues that analysts have been fundamentally flawed in forecasting the next booms and busts in the economy. Reading over the number in quarters instead of annuals have resulted in noise that disallows you from seeing the macro picture, according to him.

In Ahead of the Curve, author Ellis proposes an alternative way to look at market cycles and how you can apply them to your business and investments. The reader will be briefed on leading and lagging indicators such as inflation rate, unemployment rate, GDP growth - and how these numbers can be harbingers of either good or bad news.

But be warned though, the work is graphic intensive and it would be a good idea that you have basic knowledge in investing before you pick up this 276-page hard cover.

Generation Debt

2007-10-07T19:40:00.000-07:00

Why Now Is a Terrible Time to Be Young

(How Our Future Was Sold Out for Student Loans, Credit Cards, No Benefits, and Tax Cuts for Rich Geezers - and How to Fight Back)

Anya Kamenetz is a young twenty-something freelance journalist who has got an axe to grind with the older generation.

She argues that young Americans are being grounded by low wages, high taxes and sky-high housing prices - thanks to a financially irresponsible baby-boomer generation. The gist behind her logic is that our parents have been living beyond their means and now the current generation of adults will have to foot the bill for their gross imprudence.

This may sound like a classic deflection of blame, so to support this theory, Kamenetz wet out to interview several people of this generation. Almost all of them tell stories of despair, desperation and debt from holding low-paying jobs and high college tuition.

Unfortunately these "interviews" are done with supposedly anonymous folks who have chosen not to come forward. As such, these discourses can never be verified as anecdotal evidence. Are young people really getting into debt because of what their parents have done, or its just that they are financially irresponsible?

Nonetheless, the author has highlighted a compelling case that needs attention very soon. Young people today are getting into debt too fast for their own good and something needs to be done immediately.

Overall it is a pleasant read with very little technical jargon. I did pick-up the revised paper back edition with an extra chapter and a slightly different cover. 305 pages thick.

Grande Expectations

2007-10-05T02:37:00.000-07:00

A Year in the Life of Starbucks' Stock

Grande Expectations claims to be the first book that follows the ups and downs of one stock over the course of a year. The chosen industry is one that is close to the hearts (and tummies) of investors worldwide, coffee company Starbucks. Perhaps the choice is such that the average reader will not have to drown himself in industry jargon. But the colourful character of its founder Charles Schultz could also be the other reason why the beverage company has been chosen as its subject, as you will soon find out why once you pick up the book.

The work is a timely read. Business editor Karen Blumenthal has done a good job in charting the rise and fall of the stock over the course of 2005-2006 all in just 273 pages. You will understand how certain political and geographical events worldwide affect a particular stock counter, as she has made this immaculate link easy to see.

Other useful features are the little stories peppered along the chapters which give an insightful peek of how corporate governance and Wall Street politics works, especially the deal with mutual fund managers and how they manipulate their books to a more glossy finish.

But the writing got a little too narrative at time. I could understand the author's intention in making the work a little less pudgy with anecdotes and interviews. But the lines after lines of dialogues and sunset descriptions was too draggy for my liking.

However all is not lost as the reader will walk away with a tip on two before sinking their money into another 4-letter ticker symbol.

A Thousand Barrels a Second

2007-10-03T06:40:00.000-07:00

The Coming Oil Break Point and the Challenges Facing an Energy Dependent World

The title of this book by Energy Economist Peter Tertzakian is taken from the important milestone in 2006, whereby world oil consumption passes the 1000-barrels-a-second mark. This unprecedented growth in energy consumption is fuelled partly by the rise of emerging giants China and India whose thirst for oil has broken all consumption records in recent history.

But the problem is, oil supplies around the word are dwindling rapidly. This makes it the one commodity with the most potential to flame geopolitical tensions around the world. This can be clearly seen in the invasion of Iraq by coalition forces.

One thing for sure is that oil prices will be one of the most exciting commodities to watch, both for investors and the man in the street alike.

So what does this mean for consumers, especially owners of fuel-guzzling vehicles who are already setting aside a chunk of their salaries on petrol? Will ever escalating prices mean that oil is the sure-fire investment of tomorrow?

Besides answering these questions, Tertzakian has done an excellent job charting the history of the commodity and its future in a clear and comprehensive narrative, all within the pages of a 272-page hard cover. A pleasant read overall.

Greenspan's Fraud

2007-10-02T00:00:00.000-07:00

How Two Decades of His Policies Have Undermined the Global Economy

With a career spanning two decades and 3 presidents, fomer Federal Reserve Chairman Alan Greenspan is undoubtedly the most influential personality in the history of American economics. Often times stock market indices around the world would rise and fall at the breath of his words. Stranglely, this continues on till today, despite the man having left the job for a considerable amount of time.

But the legendary figure's reign is not without contreversy. The work, aptly titled Greenspan's Fraud, is perhaps the most vocal critique that has been compiled to date. Written by Economics Professor Ravi Batra from the Southern Methodist University of Dallas, it details the rise and rise of Alan Greenspan's career, his influence and his policies till the day he resigned.

Batra argues that Greenspan has extracted trillions of dollars from the American middle class. All this has been done while solidly protecting the rich through measures that have been deliberately engineered.

Dubbed "Greenomics", Batra also lays the case as to why Greenspan has unwittingly initiated several economic crashes that has affected millions of lives around the world. For example just before the dot-com mania that eventually fizzled out, Greenspan was documented as saying to President Clinton that "This is the best economy I have seen in 50 years" and did nothing to stop the mindless speculation that was consuming the market.

Though convincingly argued, some of the claims made in this 278-page hard cover seems amplified beyong the justifiable. For example, several of his critiques have not been acompanied by a more viable solution. Besides that, the writing stlye is hardly entertaining and more or less resembles the angry ramblings of a nagging professor that we have all come across in university. For that, I doubt that Greenspan's Fraud will join his list of best-sellers anytime soon.

However should you choose to overlook this literary annoyance, you might find a little eye opener here and there in Greenspan's Fraud.

The Invisible Continent

2007-10-01T23:39:00.000-07:00

Four Strategic Imperatives of The New Economy

I first picked up this book about seven years ago at the height of the dot-com boom. In it, best-selling author of The Borderless World, Kenichi Ohmae talks about how new economy giants like Cisco, Dell and Microsoft would be the new super powers of the world, instead of nation states. These, and the products they create, are defined as the invisible continents.

He further ventured that old economy titans such as Westinghouse, General Motors and other slow moving legacies would one day be devoured by these '"new economy" entities. An impressionable student at a local polytechnic, I was swayed over by these romantic soothsayings and was looking forward to a whole new economy once I graudated from University.

His various predictions have obviously not materilaised. The "old economy" entities that he mentioned in his book have not only failed to give way, they have indeed evolved and entrenched their positions in their various niches. Strong fundamentals still hold triumph over innovation and adventure.

The Invisible Continent remains a 262-page testimony of the euphoria and that was consuming the general public at the height of the dot-com optimism. While his prophecies may be off -mark, Kenichi Ohmae must be given credit for his highly convincing and entertaining style of writing.

The Mongol Art of War

2007-09-30T20:42:00.000-07:00

On one particular Friday in the year 1220, a strange slit-eyed man walked up to a mosque filled with terrified Muslims in the city of Bukhara. As he ascended the pulpit, citizens trembled as the conqueror faced his newly acquired citizens. He then began to spoke:

"O people, know that you have committed great sins, and that the great ones among you have committed these sins. If you ask me what proof I have for these words, I say it is because I am the punishment of God. If you had not committed great sins, God would not have sent a punishment like me upon you."

Thousands were slaughtered shortly after these words. The man was Genghis Khan and he had just overran the mighty Muslim fort of Bukhara.

The sacking of several Muslim bastions such as Baghdad and Bukhara has had a profound effect in shaping Islam to what it is today. Muslim clerics of the time, humbled at the thought of losing to an unknown enemy, blamed it one the fact that its rulers were not Muslim enough in the governing of their territories. So began a process of Islamization in every aspect of a Muslim's life - from politics to military, remnants of which still exists today.

How did a nomad tribe like the Mongols rise up to become one of the most powerful military force of its time with conquered territories from China to Baghdad and Austria?

Timothy May reveals this in his 214-page hardcover. From their military and economic strategies, right down to their political maneuverings of the Khans. Lessons learned in this timely work will be applicable in life and business.

A much welcomed refresher from the countless number of Sun Tzu's Art of War titles that line the bookshelves today as it offers new insights and perspectives that are not found in other war strategy titles. The work may be factual but it is peppered with colourful anecdotes and and surprising facts that make The Mongol Art of War a very enjoyable read.

The Dividend Growth Investment Strategy

2007-09-29T11:26:00.000-07:00

How to Keep Your Retirement Income Doubling Every Five Years

Don't Buy Mutual Funds or Unit Trusts. That is basically the strong message behind the book. Author and tax-law attorney Roxann Klugman tells you why.

It is amazing how many "experts" will tell you to buy mutual funds or unit trusts whenever you come up to them for investment advice. Scary still is the number of amateurs who seem to have bought this "advice" hook, line and sinker - judging from the number of people owning these financial products today.

The truth is mutual funds exist to benefit the banks and financial institutions only, not you. The only real people laughing all the way to the bank whenever you buy mutual funds is the banker who sold the product to you. The tyical investor is just an instrument to enrich Wall Street. Heart breaking facts that may be hard to swallow.

Consider the following facts. Mutual funds and unit trusts have been consistently under performing the stock market since they existed, and taxes coupled with hidden fees and commissions ensures that the banks are the only ones who truly benefit from your money. Millions of people all over the world, from America to Singapore, would have gained more if they had just left their money in cash, instead of squandering them on unit trusts and mutual funds.

Several calculations exist in the book to show you how this happens. For example, if you pay only a 1% management fee per year to a fund manager to manage your money, at the end of 20 years, the compounding effect of that fee would have eroded 17% off the value from your investment. Given the fact that most banks today charge an average of about 3% in management fees, the erosion on your investment would be even more substantial.

So stop enriching the banks and do the investments yourself. But a little note of caution, the techniques mentioned in this book is not for panicky speculators who sell off their stock at the first signs of trouble. If you do that, then you're no better off than just sending your money to Wall Street for free.

The Dividend Growth Investment Strategy is a discipline for far-thinking investors who can hold their ground despite fluctuating market conditions. These are the investors who will win over the long term, once the compounding effects kick in. Techniques of achieving this is clearly demonstated in the book.

The 290-page hard cover is easy to read with clearly illustrated examples, graphs and calculations to facilitate your understanding. However prior knowledge in basic stock market and financial terms is recommended.

What If Boomers Can't Retire?

2007-09-29T09:54:00.000-07:00

How to Build Real Security, Not Phantom Wealth

According to the author Thornton Parker, three trends are on a collision course once the baby boomer generation starts to retire. An ageing population in developed countries, over inflated corporate stock prices that create the illusion of real wealth, and the growing reliance of baby boomers on this wealth for retirement.

In other words, too many retirees selling their stocks to fund their retirements + too little younger people available to buy them = financial catastrophe where trillions of dollars worth of paper value may be wiped out as the decades go by. In fact, the author predicts a massive financial collapse and depression in the near future unless something is being done to tweak the system.

While the doomsday predictions may be a little too far-fetched, the author has presented a real issue that we have yet to find the answer. With a dwindling population in most of the developed countries, who will buy the stocks that hordes of baby boomers will unload onto the stock market once they start to retire and cash out? The developing countries are already listing a record number of equities, following down this abysmal path with no clear end in sight.

What If Boomers Can't Retire? shows you why the stock market is not a quick fix to retirement and what the baby boomers with the generations that come after them will have to do so that they can retire in peace without passing on a major financial catastrophe onto their children.

But most importantly, the 255-page hard cover gives insightful perspectives on channeling away capital from wasteful speculation and towards sustainable long term investments that will be able to meet our needs in the decades to come after retirement.

The Book of Investing Wisdom

2007-09-28T22:18:00.000-07:00

Classic Writings by Great Stock-Pickers and Legends of Wall Street

The Book of Investing Wisdom is a collection of 46 essays by prominent investment gurus - including billionaires Warren Buffet, Donald Trump and George Soros.

The essays are grouped into 8 sections, each dealing with a specific theme in investment such as market cycles, strategy and the attitude an investor should take when braving the waves of the stock market.

Warren Buffet opens the curtain with the first essay where he tells of the why and how analysis of a particular company should be done before you sink your money - and why speculators who invest blindly on hot tips are bound to lose.

Interestingly, the quality writings are hand-picked from a particularly wide time frame, with the oldest essay done in 1870 by W.W. Fowler titled The Stock Exchange. The latest in the compilation is written in 1996 by Jim Rogers titled Get Smart...and Make a Fortune.

Other spectacular essays include Investment Versus Speculation by John Moody, The Time-Tested Maxims of the Templeton Touch by Sir John Templeton and Trump Cards: The Elements of the Deal by Donald Trump.

The brief introductions given for each author at the start of his essay is particularly enjoyable and makes for insightful reading. They have been thoroughly written and researched by editor Peter Krass. The 498-page hardcover also features a useful author index and chronology should you choose to research further on the subject matter contemplated. A good read for amateur and professional investors alike.

Credit Card Nation

2007-09-28T19:52:00.000-07:00

The Consequences of America's Addiction to Credit

The author Robert D. Manning is a Senior Fellow at the University of Houston Law Center. What he does in Credit Card Nation is a remarkably good assessment of the debt culture that has slowly engulfed the people of America.

It is indeed shocking that college students as young as 18 are racking up thousands of dollars worth of credit card debt, even before they start working. According to Nellie Mae, the nation's largest maker of student loans, the average college student today has about $2,200 in credit card debt. When you consider that it takes about 12 years to repay a $1000 credit card debt at 18% p.a. on minimum monthly payments, the average American is in big trouble indeed.

By the time a young American graduates, he or she would have about $5,800 in debt on average. This figure is bound to climb once he or she enter adulthood.

What is happening in the United States is a very good precedent of what is about to occur all over the world. Credit Card Nation tells of good precursors of what to expect when you live in a society obsessed with consumerism, middle class symbols and unabashed debt.

While mass marketing strategies of credit card companies may be in part to blame, the main reason why the obsession with credit and debt has proliferated so much into society is the disillusion that people have about living a good life and surrounding themselves with purchases they otherwise cannot afford.

The 406-page hardcover starts by examining the history of credit cards over the past 20 years since the deregulation of financial services in 1980. Through real-life interviews, the author reveals how debt has and will continue to take a severe toll on society. An overall good eye-opener and read.

The Richest Man in Babylon

2007-09-28T03:02:00.000-07:00

What best way to start my book review site with the the literary classic that has had the most influence on most of my adult life. This is one book, I believe, that banks would hate for you to read - judging from the amount of credit cards they're selling.

The Richest Man in Babylon first started out in 1926 as a series of pamphlets written by soldier-turned-writer, George Samuel Clason. After serving in the United States Army during the Spanish-American War, he returned home to venture in business by starting a map and publishing company. It was here that he began writing a series of parables set in the ancient city of Babylon.

Ironically, these pamphlets were first used by banks to advise their clients with regards to the handling of money. His writings became so popular back then, it was compiled into a proper book that we know of today as The Richest Man in Babylon.

The 144-page paperback tells the story of a chariot builder by the name of Bansir who lived in an ancient society of mixed fortunes. While the majority of Babylonians lived in debt and existed on meagre earnings, there was a handful of citizens who prospered well.

Bansir was determined to change his fate and went out to seek a rich and prosperous merchant by the name of Arkad to seek his advice. Arkad was The Richest Man in Babylon at that time and he gladly took Bansir and his friends in a campfire to dispense his wisdom, including the famous "Five Laws of Gold".

The rest of the book revolves around this gathering, where Arkad describes why some men are bounded to be in debt for as long as humanity exists, and why some men become rich.

Sadly, this is a work that has been forgotten by much of the younger generation today. Everywhere we look, we see youths saddled with debt and morbid consumerism. Young adults prefer books like "Rich Dad, Poor Dad" and other titles of instant gratification. If only The Richest Man in Babylon was made a required reading at high school level, perhaps society will not be decaying to the level it is today.

Despite being written in a slightly older version of English, understanding it is a breeze. You may find yourself from cover to cover in less than a day given the thickness of the book. But have no doubt that its lessons will linger for a lifetime.