Business, Finance & Law Books

Book SynopsisCreativity isn't an occupation, its a preoccupation. It is at the very core of what makes us human. Its also a fundamental challenge that everyone faces in the modern world, be they in business, in education or a struggling artist or musician. This book takes 50 provocations and themes that lie at the heart of creative thinking.

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Book SynopsisInnovate your way toward growth using practical, research-backed frameworks The Art of Opportunity offers a path toward new growth, providing the perspective and methods you need to make innovation happen. Written by a team of experts with both academic and industry experienceand a client roster composed of some of the world's leading companiesthis book provides you with the necessary tools to help you capture growth instead of chasing it. The visual frameworks and research-based methodology presented in The Art of Opportunity merge business design thinking and strategic innovation to help you change your growth paradigm. You'll learn creative and practical methods for exploring growth opportunities and employ a new approach for identifying what opportunity looks like in the first place. Put aside the old school way of focusing on new products and new markets, to instead applying value creation to find your new opportunity, craft your offeriTrade ReviewThe Art of Opportunity is all about creatively discovering new growth opportunities for your company and crafting a collaborative strategy that will get you there. Not only is the content powerful, the design is stimulating for the eyes as well as the mind. Read this book and start innovating!Ken Blanchard, coauthor of The New One Minute Manager® and Collaboration Begins with You The Art of Opportunity will help trigger strategic renewal inside your organization. Creative, inspiring, fresh, and empirically grounded, this playbook to growth is bound to be an executive reference for many years to come.Deryck J van Rensburg, President Coca-Cola Global Ventures From the coffee table to the conference table --The Art of Opportunity challenges our traditional business models and mindsets while providing a path and approach to success.Paul Snyder, Vice President Corporate Responsibility, InterContinental Hotels Group The Art of Opportunity is not just another book on strategy with some new strategy! Sniukas, Lee and Morasky created a practical tool - a process to design future businesses. It is easy to read and use and spiced with brainstorming sessions you can run with your team. By using the book, I’m willing to bet companies can save fortunes on consultancy. Every business that wants to grow should go through this process.Domenico Traverso, President Work Function Division at Danfoss Power Solutions Visually beautiful, The Art of Opportunity is a fresh, new take on design thinking that offers practical tools for strategic innovation.Mark Polson, Vice President Creativity & Strategic Capability Building | Estée Lauder Companies Clear, artful, and inspiring. A highly readable, practical, step-by-step guide for anyone who wants to identify, design and launch strategic growth initiatives.Dave Gray, Founder, XPLANE This book will dramatically alter both your business and personal life as you experience the very useful approach to innovation and strategy. Get on board and enjoy this inspirational journey.Dr. Bob Lorber, CEO - The Lorber Kamai Consulting GroupCo-Author: “Putting The One Minute Manager to Work” and Co-Author: “Doing What Matters” Refreshingly pragmatic advice for business growth and development. This visualization approach was successful in aligning resources to solve my complex business issue.David Lary, Vice President Commercial Channel Partner Development and Programs, Print and Personal Systems, Hewlett-Packard The Art of Opportunity is a concise, richly detailed primer for organizations seeking growth through innovation and change through disruption.Jay Samit, Bestselling author of Disrupt You! Master Personal Transformation, Seize Opportunity and Thrive in the Era of Endless Innovation The Art of Opportunity is not your typical strategy book. It offers a fresh approach to designing growth strategy with methods that are equally valuable to leaders of established businesses and new ventures.Jeff Wright, Vice President Strategy & Marketing, Autodesk The Art of Opportunity is not just a book, but a road map helping to guide companies as they venture down the innovation path in search of new growth opportunities. It offers readers an actionable lens that includes the vital components of storytelling and what it means to take a user-centered approach in the new world of business model design thinking. Saul Kaplan, Founder and Chief Catalyst Business Innovation Factory, Author The Business Model Innovation Factory I love this book. Whether you’re pushing an idea inside a large corporation, or creating your next big deal, this book gives you the framework, the tools and the right questions to ask – not just to get you started, but to keep you going. In short, this book tells you how to organize your thinking with clarity, vision, precision and vigor.Richard Black, Chief Data Architect, Deutsche Bank; former Chief Technology Officer, Bank of England Strategy made fun! An innovative way of making strategic innovation come alive. This book will bring out the best of both the right and left half of your brain. Great for novice strategists and old hands alike.Ron Meyer, Professor of Corporate Strategy at Tias Business School, Tilburg University Opportunities abound. We confront them every day, but they rarely appear as opportunities and do not come with labels to identify them as opportunities. As a blind person myself, I’m excited that the authors of this book use visualization as a tool to bring opportunities into our businesses and lives. Read, learn, and imagine.Jim Stovall, bestselling author of The Ultimate Gift The Art of Opportunity presents a clear field guide for creating new value for organizations. The methods and stories affirm that the most valuable parts of business are more art than science. Ignore at your own risk.Michael Graber, Managing Partner of Southern Growth Studio The Art of Opportunity humanizes business innovation in its approach and accessible, visual presentation. A must-read for entrepreneurs who aim to disrupt industries.Chip Joyce, CEO & Co-Founder Allied Talent, LLC The Art of Opportunity is a beautifully crafted piece of work, so richly illustrated that at times I felt like I was reading a graphic novel. It is packed with fresh and varied case studies, most of which I hadn’t come across before. But more importantly, this book is really useful. Whether you’re an entrepreneur in the first throes of wrestling with a business idea, or a seasoned strategist at a large organization looking for new paths toward new opportunities, this is one of those rare “how to” guides that actually over-delivers on the how tos. My own copy will be well thumbed, for sure.Mark Barden, co-author of A Beautiful Constraint The Art of Opportunity is an innovation cocktail with a nice twist of visual thinking that will inspire application and growth.Jim Wallace, Global Head of Agency Strategy & Management, HP Innovation-obsessed visual thinkers, unite! This book may be your bible.Sunni Brown, Chief Human Potentialist, Best-Selling Author of Gamestorming and The Doodle Revolution A wonderful new tool for those feeling “stuck” with old approaches and business processes that are no longer effective.Max Thelen, former CEO, Filter Proven strategies from market innovators? Check. Step-by-step guides to structure your exploration? Check. Innovative visual explanations to engage and inspire? Triple-Check. If you’re a market-maker, don’t miss this book.Kevin Tate, Co-Founder, StepChange Group In today’s complex business environment where staying ahead of marketplace changes is critical to survival, the authors have compiled an in-depth exploration of business design thinking and its practical applications to business growth. A book for anyone in business. It is provocative and challenging.Michael Graham, Managing Partner Greysage, LLC How to make something challenging and complex easier to understand, easier to do by breaking it down into manageable and clear tasks. This book gives you very practical steps and advice on building new initiatives.Stuart Curley, Vice President Enterprise Architecture at Northgate IS What a bold and compelling book! It offers a thought-provoking new perspective on strategy and some important food for thought on how to discover and seize new opportunities. The strengths of The Art of Opportunity lie in its practical approach to validate strategies. It does not just claim that experimentation is important but shows how you can actually validate a strategy through experimentation. Bravo!Anja Förster & Peter Kreuz, Bestselling Authors, Entrepreneurs and Angel Investors In my job I am expected to know this information, but this book presents all necessary information so clearly, it’s a piece of art! I am convinced that The Art of Opportunity will help thousands of managers gain knowledge much quicker than they could ever have done so in their working life. Well done, and thank you so much for the effort!Silvester de Keijzer, Board Member Swiss Made Im. For anyone trying to navigate the complexities of value creation, The Art of Opportunity gets to the heart of how to operationalize entrepreneurship and innovation as the real engines behind strategic growth.Wayne A. Simmons & Keary L. Crawford, Authors: "GrowthThinking: Building the New Growth Enterprise” Growing a business is all about identifying and leveraging opportunities. But where to start? How to know where to look? This book not only makes you change your thinking, it gets you moving, too, with novel and practical exercises that provide managers with a customizable pathway to growth.Professor Helen Perks, University of Nottingham, UK The Art of Opportunity provides a refreshing view on how to grow performance in an increasingly visual and collaborative world. It is compelling and simple and just what the business landscape needs. Worthy read.Crystal Fernando, Head of Global Commercial Delivery, InterContinental Hotels Group A fantastic and beautiful design thinking manifesto for the visual learner in all of us.Matt Moog, CEO of PowerReviews Sniukas, Lee, and Morasky have crafted a beautiful, full-color journey to innovation that takes you from beginning to end. The engaging visuals draw you in to understand the approach, while the simple step-by-step instructions get the thoughts out of your head and ready to execute. A must read for anyone looking to tackle an opportunity they have spotted.C. Todd Lombardo, Chief Design Strategist, Fresh Tilled Soil The Art of Opportunity is a key innovation masterpiece that is going to help me with our work with intrapreneurs at the largest entertainment media companies in the world.John Huffman IV, Founder, HUFFMAN CO Step by step, The Art of the Opportunity encourages a fresh, visual look at how to deliver new value to customers.Doug Van Aman, Principal, Van Aman Communications The Art of Opportunity blazes a welcome trail to successful business growth.Kevin O’Keefe, business leader and bestselling author of The Average American Impactful and practical. An excellent guide for strategic reflection and action.Omar Baig, Head of Digital, Knowledge and Information Service. OECD The Art Of Opportunity presents compelling evidence, based on extensive experience, for the application of business design thinking by combining strategic innovation with inspiration from others. Their pragmatic approach offers existing businesses a framework to innovate or adapt in complex changing environments. Loved it!Anne Bartlett-Bragg, PhD, Managing Director, Ripple Effect Group Being, Knowing and Doing are must-have disciplines for any team to succeed.This book helps guide teams with crisp insights and methodologies to rapidly frame innovation projects.Ed Soo Hoo, Industry Fellow At UC Berkeley Center for Entrepreneurship and Technology In working with over 150 SMEs in the last 12 months, I have found they want business support that is practical, visual, and guides them to make the right decisions by inspiration and example. The Art of Opportunity does this brilliantly. It brings key visual tools into one place and shows you how to use and implement them at every stage for your business’ success. Excellent book, a must buy.Mark Copsey, Director RedKite Innovations, growth coach and lecturer Leeds Beckett University A clear and practical approach to uncovering growth opportunities hidden within your business and how to make them a reality and driving the top line.Robert McKinnon, Former SVP and Head of PMO, InterContinental Hotels Group Read this book with a marker pen in hand, because you'll want to start creating your next strategic innovation straight away. This practical guidebook to business design thinking will help you make the most of your customer opportunities.Simon Terry, Chairman, Change Agents Worldwide Whilst managing Apple Education in EMEA, we discovered the power and resilience of visual communications, giving us the ability to translate complex digital engagement into simple, informative and meaningful illustrations and graphics. Today, The Art of Opportunity helps move this work forward another important stage.Alan Greenberg, former Apple Director Education EMEA, then Asia. Currently Advisory Board of 8GT Fund Sniukas, Lee, and Morasky have artfully made complicated strategic design principles accessible to anyone looking to grow or build a business. The Art of Opportunity is a visually engaging guidebook that helps businesses of any size tap into their creativity to develop effective business strategies.Catherine Palmer, Senior Industry Marketing Manager, Autodesk, Inc. The Art of Opportunity clearly details how to achieve success through proven strategic innovation and visual thinking methodologies. The authors expertly plot a path along the journey based on years of experience in helping companies realize significant growth. Let great things happen to you by reading this book.K.C. Teis, Vice President of Experience Design, Rackspace It’s not often a series of artful lateral choices are presented so elegantly that they can be pragmatically implemented like science. A must read for leaders looking to innovate with their existing teams to create new value.Shayne Smart – Founder Geneva Conventions in Pictures In a new era you can't stop to innovate.Andres Pacheco, Head of Training, Ripley Enterprises Chile Practical. Transformative. Actionable. Leaders should equip their staff with this innovative guide. Follow the instructions. Your business will grow.Michael Neil, Chief Marketing Officer, Asset-Map An easy-to-follow blueprint for customer-centric innovation to drive business growth. Had I had this book 10 years ago, I'd have saved tons on agency fees!Heinz Waelchli, Chief Customer Officer at SnapAV A guidebook for strategic innovation: where to play, how to play and how to win.Lars Crama, Chief Commercial Officer, InnoLeaps Sniukas, Lee and Morasky provide a powerful framework that encourages and empowers readers to apply their own creativity to developing their growth strategyRobert Shepherd, Chief Development Officer and SVP Development, Design & Openings - Europe, InterContinental Hotels Group Move over Michael Porter - The Art of Opportunity presents an innovative new approach for strategic business thinking, and how to master the art of business design.Jed Singer - President, Socialight Media A fresh approach to business design thinking that is engaging to read and easy to apply.Claire Francois, Technology Marketing Advisor, Shell The Art of Opportunity combines great insight, industry best practice, and practical exercises in a way that’s constantly engaging and frequently surprising.Mark Baker “The Art of Opportunity” sheds a long overdue light on areas of business that are indeed more art than science. Each page offers practical insights needed to seize opportunities and bring ideas to fruition.Louis Patler, President, The B.I.T. Group, Author, Make Your Own Waves / The Surfer’s Rules for Innovators and Entrepreneurs In the world powered by innovation, “The Art of Opportunity” provides a pragmatic approach to focus your team and turn their thoughts and ideas into achievable business success. The approach presented in the book, supported by great exercises makes it a hugely helpful tool to deliver the opportunity that is always within the reach of your organisation, but sometimes feels too far away. We all strive to be successful; “The Art of Opportunity” helps us to truly become successful.Rafal Tomczyk, General Aviation Transformation Manager - Strategy Implementation Based on what we learned in “The Art of Opportunity,” our agency has changed our entire approach for attracting new clients. We find more opportunities by focusing on the needs of the customer—we’re human centered now, that sets us apart and we’re confident we’ll win more often now.Jeff Chesebro, President, Princeton Partners One of the most comprehensive looks at the powerful integration of innovation strategy and business design to uncover new opportunities and commercialize existing ones.Soon Yu, Global Vice President of Innovation, VF Corporation The Art of Opportunity is stunning, insightful, practical and takes the powerful concepts behind design thinking and explains them with tools, case studies, and real-world examples. The future of business requires that we all embrace art and analytics, information and intuition, planning and empathy – The Art of Opportunity shows us the way. David Howitt, Founder & CEO of Meriwether Group, Author of "Heed Your Call"Table of Contents 1 ARTFUL INNOVATION x Foreword xii Acknowledgments xv Introduction xvi Reader’s Journey 4 WHAT IS STRATEGIC INNOVATION? 5 Traditional Strategic Management 6 Strategic Innovation 8 Where to Play: Find Your Opportunity 8 How to Play: Craft Your Strategy 9 How to Win: Create Value 10 WHAT IS BUSINESS DESIGN THINKING? 10 The Five Principles of Business Design Thinking 12 Getting Started 2 DISCOVER YOUR NEW GROWTH OPPORTUNITY 18 UNDERSTAND YOUR CUSTOMER AND NONCUSTOMER 20 Customer and Noncustomer 24 Understand Customer Needs, Expectations, and Choice 29 Identify Barriers to Consumption and Hurdles to Satisfaction 32 Inspiration: Cardinal Health 33 Inspiration: Klinik Hirslanden 34 How to Understand Your Customer and Noncustomer 34 Gather Information 35 Make Observations and Create Themes 35 Transform Findings into Insights 36 Inspiration: Ripple Effect Group 38 Activity: Persona Mapping 40 Activity: Create an Interview Guide 42 Activity: Customer Journey Mapping 44 Activity: Reveal Observation Headlines 46 UNDERSTAND YOUR FIRM 48 Resources and Capabilities 50 Inspiration: Caesars Palace 52 Resource Sparks: The Four Dimensions for Mapping and Assessing Resources 54 Methods to Understand Your Firm 56 Activity: Map Your Resources 58 Activity: Map Your Ecosystem 60 FRAME YOUR GROWTH INITIATIVE 62 Art of Opportunity Growth Types 62 Evolutionary Growth 63 Adjacent Growth 64 Breakthrough Growth 65 The Breakthrough Question 66 FRAME YOUR GROWTH OPPORTUNITY 66 Decision Making 67 Kinds of Decision-Making Strategies 68 Decision-Making Process 70 Activity: Create Your Growth Initiative Brief 72 Activity: Explore Your Opportunity Insights 74 Activity: Select Your Opportunity 76 VISUALIZE YOUR OPPORTUNITY 78 Employ Storytelling and Visual Frameworks 82 Activity: Visualize Your Opportunity 3 CRAFT YOUR STRATEGY 88 THE ELEMENTS OF YOUR STRATEGY 90 Design Your Offering 90 Products 91 Services 91 Customer Experiences 92 Inspiration: Hilti 94 Offering Sparks: 10 Ways to Design a New Offering 106 Activity: Offering Brainstorm 108 Activity: Design Your Offering 111 Shape Your Business Model 112 The Static Perspective 112 The Dynamic Perspective 113 The Strategic Perspective 113 The Operational Perspective 113 Our Definition of a Business Model 114 Business Model Components 114 Activities 116 Resources 117 Sequence 118 Roles 120 Business Model in Practice 122 Inspiration: Eden McCallum 124 Inspiration: Klinik Hirslanden 126 Business Model Sparks: 8 Ways to Design a New Business Model 136 Activity: Visualize Your Current Business Model 138 Activity: Design Your New Business Model 140 Activity: Flip Your Business Model Assumptions 143 Structure Your Revenue Model 144 Revenue Streams 146 Pricing Mechanisms 148 Payment Mechanisms 150 Inspiration: ProSiebenSat.1 152 Inspiration: Fahrenheit 212 153 Inspiration: 826 Valencia 154 Revenue Model Sparks to Consider 156 Activity: Revenue Model Card Sort 158 SET YOUR STRATEGY: CREATING VALUE 161 Creating Value 162 Customer Value 164 Firm Value 166 Ecosystem Value 168 Inspiration Summary: Value Propositions by Company 170 Activity: Set Your Strategy 172 VISUALIZE YOUR STRATEGY 173 Final Note on Crafting Your Strategy 174 Activity: Visualize Your Strategy 4 LAUNCH YOUR NEW GROWTH BUSINESS 182 THE THREE PHASES OF A NEW GROWTH BUSINESS 185 The Inception Phase: Validating Your Opportunity And Piloting Your Strategy 186 Three Steps for Validation and Piloting 192 How to Validate Your Pilot 192 Activities for Presenting Your Validation Data 192 In-House Observations 192 Field Observations 193 Simulation 193 Interviews 194 Research 194 Small-Scale Experimentation 194 Additional Resources to Explore 196 Activity: What to Test 198 Activity: How to Test 200 Learning from Your Pilot 200 Achieving Success 201 Encountering Challenges 201 Gaining Insights 202 The Evolution Phase: Adapting Your Strategy 204 Inspiration: ProSiebenSat.1 206 Inspiration: Fahrenheit 212 210 Activity: Start, Stop, Change, Continue 212 Activity: Design Next Steps 214 Visualize Your Growth Plan 216 Activity: Visualize Your Growth Plan 218 The Diffusion Phase: Scaling Up Your Business 220 Operational Challenges 222 Establish Clear Roles and Responsibilities 222 Build an Organizational Culture of Sharing, Listening, Collaboration, Experimentation, and Support 223 Take a Holistic, Systems Approach to Planning and Executing the Scaling-up Process 223 Build a Plan and Employ a Process of Regular and Rigorous Review and Adjustment 223 Create a Clear and Simple Way to Track and Measure Your Progress 5 MASTERING THE ART: BUSINESS DESIGN THINKING 228 WHAT IS BUSINESS DESIGN THINKING? 229 Foundation of Business Design Thinking 230 Process and Methodology 232 PRINCIPLES OF BUSINESS DESIGN THINKING 232 1. Keep a Human-Centered Focus 234 2. Think Visually and Tell Stories 235 3. Work and Co-Create Collaboratively 236 4. Evolve through Active Iteration 237 5. Maintain a Holistic Perspective 238 Inspiration: Oracle 240 Inspiration: ExactTarget 242 A NEW WAY OF WORKING 244 Inspiration: Microsoft 254 Notes 256 About the Authors 259 Index

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Book SynopsisA comprehensive overview of trading and risk management in the energy markets Energy Trading and Risk Management provides a comprehensive overview of global energy markets from one of the foremost authorities on energy derivatives and quantitative finance.Table of ContentsPreface xiii Acknowledgments xxv About the Author xxvii About the Contributors xxix Chapter 1 Energy Markets Fundamentals 1 1.1 Physical Forward and Futures Markets 3 1.2 Spot Market 5 1.3 Intraday Market 10 1.4 Balancing and Reserve Market 10 1.5 Congestion Revenue Rights, Financial Transmission Rights, and Transmission Congestion Contracts 11 1.6 Chapter Wrap-Up 12 References 13 Chapter 2 Quant Models in the Energy Markets: Role and Limitations 15 2.1 Spot Prices 17 2.1.1 Random Walk Jump-Diffusion Model 19 2.1.2 Mean Reversion: Ornstein-Uhlenbeck Process 23 2.1.3 Mean Reversion: Schwartz Type 1 Stochastic Process 25 2.1.4 Mean Reversion with Jumps 25 2.1.5 Two-Factor Model 26 2.1.6 Negative Prices 27 2.2 Forward Prices 28 2.2.1 Forward and Futures Markets 28 2.2.2 Contango and Backwardation 30 2.3 Chapter Wrap-Up 31 References 31 Chapter 3 Plain Vanilla Energy Derivatives 33 3.1 Definition of Energy Derivatives 34 3.2 Global Commodity Exchanges 35 3.3 Energy Derivatives Pricing Models 36 3.4 Settlement 37 3.5 Energy Derivatives Quant Models: Role and Limitations 38 3.6 Options 40 3.6.1 Volatility 42 3.7 Vanilla Options 43 3.7.1 Option Style 44 3.7.2 Exchange-Traded and Over-the-Counter Options 44 3.7.3 In-the-Money, At-the-Money, and Out-of-the-Money Options 45 3.7.4 Put-Call Parity 46 3.8 European Options 47 3.9 American Options 50 3.10 Swaps 52 3.11 Swaps to Futures 54 3.12 Chapter Wrap-Up 54 References 54 Chapter 4 Exotic Energy Derivatives 59 4.1 Asian Options 60 4.1.1 Classes of Asian Options 61 4.1.2 Payoffs of Asian Options 62 4.1.3 Solutions to Asian Options 63 4.1.4 Asian Options in the Energy Markets 63 4.2 Barrier Options 63 4.2.1 Eight Types of Barrier Options 64 4.2.2 Partial Barrier Options 65 4.2.3 Solutions to Barrier Options 66 4.2.4 Barrier Options in the Energy Markets 66 4.3 Digital Options 66 4.3.1 Types of Digital Options 67 4.3.2 Solutions to Digital Options 69 4.3.3 Digital Options in the Energy Markets 69 4.4 Real Options 71 4.4.1 Real Options in the Electric Power Markets 71 4.4.2 Case Study: Real Options in the Oil Markets 72 4.4.3 Limitations of the Real Options Valuation Paradigm 73 4.5 Multiasset Options 74 4.5.1 Pricing Multiasset Options 74 4.6 Spread Options 75 4.6.1 Crack Spreads 76 4.6.2 Spark Spreads 82 4.6.3 Dark Spreads 85 4.7 Perpetual American Options 86 4.7.1 Perpetual American Options in the Power Industry 87 4.8 Compound Options 87 4.8.1 Tolling Agreements: Example of Compound Options in Power Markets 89 4.9 Swaptions 90 4.9.1 Energy Swaptions 91 4.10 Swing Options 92 4.11 Chapter Wrap-Up 94 References 94 Chapter 5 Risk Management and Hedging Strategies 99 5.1 Introduction to Hedging 102 5.2 Price Risk 104 5.3 Basis Risk 107 5.3.1 Basis Risk Case Study 108 5.3.2 Metallgesellchaft Case: Stack and Roll Hedging Disaster 109 5.4 The Option “Greeks” 110 5.5 Delta Hedging 111 5.6 Gamma Hedging 113 5.7 Vega Hedging 115 5.8 Cross-Hedging Greeks 116 5.9 Quant Models Used to Manage Energy Risk: Role and Limitations 116 5.9.1 Regression Analysis 117 5.9.2 Stress Test 120 5.9.3 Value at Risk 123 5.10 Chapter Wrap-Up 124 References 124 Chapter 6 Illustrations of Hedging with Energy Derivatives 127 6.1 Hedging with Futures Contracts 129 6.1.1 Case Studies and Examples: Hedging with Futures Contracts 130 6.1.2 Risks Associated with Hedging with Futures Contracts 138 6.2 Hedging with Forward Contracts 141 6.3 Hedging with Options 143 6.3.1 Case Study: Call Options Used to Set a “Cap” on Gasoline Prices 143 6.3.2 Example: How Power Generators Use Options on Futures to Hedge 144 6.3.3 Example: How End Users Utilize Options on Futures to Hedge 145 6.3.4 Example: How Power Marketers Use Options on Futures to Hedge 145 6.4 Hedging with Swaps 146 6.4.1 Example: Fuel Swap 148 6.4.2 Example: Electricity Swap 149 6.4.3 Case Study: Natural Gas Basis Swap 150 6.5 Hedging with Crack Spread Options 151 6.5.1 Case Study: Hedging with Crack Spread Options 153 6.6 Hedging with Spark Spreads 154 6.6.1 Case Study: Power Producer Uses Spark Spread to Protect Margin 154 6.7 Hedging with Other Energy Derivatives 157 6.8 Chapter Wrap-Up 158 References 158 Chapter 7 Speculation 161 7.1 Convergence of Energy and Financial Markets 162 7.2 Trading Terminology 167 7.3 Energy Products Trading Codes 169 7.4 Futures Trading Symbols: Month Code Abbreviation 170 7.5 Fundamental and Technical Analyses 171 7.6 Trading Tools: Charts and Quotes 173 7.7 Energy Trading Market Participants 176 7.8 Speculation in the Oil Markets 182 7.9 Speculation in the Electricity Markets 184 7.10 Speculation in the Natural Gas Markets 185 7.11 Chapter Wrap-Up 187 References 187 Chapter 8 Energy Portfolios 191 8.1 Modern Portfolio Theory 192 8.2 Energy Portfolio Management 196 8.3 Optimization of Electricity Portfolios 197 8.3.1 Case Study: Economic Load Dispatch of a Portfolio of Gas-fired Power Plants 199 8.4 Optimization of Gas Portfolios 201 8.5 Other Energy Portfolio Management Models 203 8.6 Chapter Wrap-Up 203 References 204 Chapter 9 Hedging Nonlinear Payoffs Using Options: The Case of a New Subsidies Regime for Renewables 207 9.1 Renewable Energy, Options Pricing, and Government Subsidies 209 9.1.1 Power Assets Modeled as a Vanilla Call Option 210 9.1.2 Strike Price of a Wind Turbine 211 9.1.3 Levelized Cost Price of Electricity 211 9.1.4 Wind Turbines’ Competitiveness on the Electricity Market 213 9.2 Government Subsidies as a Stochastic Process 216 9.3 Impact of Embedded Options and Stochastic Subsidies on Pricing and Risk Management 219 9.3.1 Pricing of a Wind Turbine and Subsidies as an Embedded Option 219 9.3.2 Tail Risk and Hedging Options with Options 222 9.4 Chapter Wrap-Up 224 References 225 Chapter 10 Case Study: Hydro Power Generation and Behavioral Finance in the U.S. Pacific Northwest 227 10.1 An Overview of Behavioral Finance 229 10.2 Behavioral Finance in Energy Economics 231 10.3 Power Generation in the Pacific Northwest 232 10.4 Behavioral Financing of Projects in the Pacific Northwest 235 10.5 Northwest Power Planning 239 10.5.1 Resource Availability 239 10.5.2 Resource Cost 239 10.5.3 System Flexibility 240 10.5.4 Cost Effectiveness 241 10.5.5 Transmission 241 10.6 Chapter Wrap-Up 241 Reference 242 Bibliography 243 Index 259

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Book SynopsisGet heard by being clear and concise The only way to survive in business today is to be a lean communicator. Busy executives expect you to respect and manage their time more effectively than ever. You need to do the groundwork to make your message tight and to the point.Table of ContentsForeword xiii Acknowledgments xv Preface xvii Part One Awareness: Heightened Awareness In a World Begging for Brief 1 1 Why Brevity Is Vital 3 Get to the Point or Pay the Price 3 Executive—Interrupted 5 Who’s Responsible for Adapting When the Message Is Not Being Heard? 9 Timing Is of the Essence 9 BRIEF Balance: The Harmony of Clear, Concise, and Compelling 10 A BRIEF Timeout 11 2 Mindful of Mind-filled-ness 13 Brevity Is Like an Instant Stress Release 13 Battling Overcapacity 14 1. Information Inundation—The Water’s Rising 15 2. Inattention—The Muscle Is Weakening 17 3. Interruption—The Rate Is Alarming 19 4. Impatience—The Ice Is Thinning 21 What Does It All Mean? 22 Your New Reality: There’s No Time for a Slow Buildup 22 Test Yourself 24 Examination of Brevity 24 A New Professional Standard 25 3 Why You Struggle with Brevity: The Seven Capital Sins 27 Why Is It So Difficult? 27 1. Cowardice 28 2. Confidence 29 3. Callousness 29 4. Comfort 30 5. Confusion 31 6. Complication 31 7. Carelessness 32 4 The Big Bang of Brevity 35 A Success Story 35 Part Two Discipline: How to Gain Discipline To Be Clear and Concise 41 5 Mental Muscle Memory to Master Brevity 43 The Exercise of Brevity 43 6 Map It: From Mind Mapping to BRIEF Maps 45 Your 11th Grade English Teacher Was Right 45 An Outline Is Missing, and So Is the Sale 47 Mind Mapping and the Modern Outline 49 BRIEF Maps: A Practical Tool for Delivering Brevity 51 How a BRIEF Map Can Be Used 52 Wrong Approach: Bob Chooses to Share but Not to Prepare 52 Right Approach: Bob Prepares a BRIEF Map and Maintains Executive Support 53 BRIEF Maps: What’s the Payoff? 57 7 Tell It: The Role of Narratives 59 I’m Tired of Meaningless and Meandering Corporate Jargon. I’m Ready for a Good Story 59 Where’s the Disconnect? When a Story Is Missing 62 The Birth of Narrative Mapping: A Way to Organize and Deliver Your Story 64 Rediscovery of Narratives and Storytelling: Breaking through the Blah, Blah, Blah 66 Listen, I’m Ready for a Story 67 Think About Your Audience: Journalism 2.0 and the Elements of a Narrative 69 Narrative Map (De)constructed 75 Seeing and Hearing Is Believing: The Story of the Evolution of Commerce 76 8 Talk It: Controlled Conversations and TALC Tracks 81 Risky Business Trip 82 Controlled Conversations Are a Game of Tennis, Not Golf 84 TALC Tracks—A Structure for Balance and Brevity 84 Be Prepared for Anything 86 Audience, Audience, Audience 88 9 Show It: Powerful Ways to Make a Picture Exceed a Thousand Words 91 Show-and-Tell: Which Would You Choose? 91 You Can See the Shift 92 Seeing Supersedes Reading 93 A Visual Language 94 Connect an Image with Your Story 96 Momentary Magic: Infographics in Business 97 Breakdown of Complex Information 98 The Age of YouTube and Business 99 TL; DR: Too Long; Didn’t Read 101 10 Putting Brevity to Work: Grainger and the Al and Betty Story 105 Part Three Decisiveness: Gaining the Decisiveness To Know When and Where to Be Brief 111 11 Meeting You Halfway 113 Defeat the Villains of Meetings 113 Meeting Villain #1: Time 114 Meeting Villain #2: Type 115 Meeting Villain #3: Tyrants 116 Change the Format and Tone—Make It a Conversation 118 Put BRIEF Back into a Briefing 119 12 Leaving a Smaller Digital Imprint 123 The Digital Flood 123 BRIEF Hall of Fame: Verne Harnish 126 From Social Media to Venture Capital 128 Social Media Squeeze 130 13 Presenting a Briefer Case 133 Practicing What You Preach 133 The Discipline of Brevity 134 Putting the Power Back in PowerPoint 138 Training as a TED Talk 139 14 Trimming Your Sales (Pitch) 143 Shut Up and Sell 143 Billboard on a Bumper Sticker 144 Time to Be Convincing and Concise 146 Cut to the Customer’s Chase 149 15 Whose Bright Idea Was That Anyway? 153 Your Big Idea 153 A Mission-Critical Narrative 154 Clear Picture with Radical Focus 157 The Entrepreneur’s Dilemma: Mixed Messages 158 Tailor Your Pitch to Your Investor’s Needs 161 16 It’s Never Really Small Talk 165 Brevity as a Conversational Life Raft 165 Momentary Misgivings Stall Momentum 166 Walk the Walk; Talk the Talk 168 17 Help Wanted: Master of Brevity 173 Not the Time for Anxious Rambling 173 Let Others Lead the Conversation 175 Talking Your Way out of a Job Offer 177 18 I’ve Got Some Good News 183 Pay the Favor of Brevity Forward 183 Let the Brilliance Shine Through 184 Speak the Language of Success 186 Get into the Habit of Saying, “Thank You” 187 19 And the Bad News Is… 189 The Bright (and Brief) Side of Bearing Bad News 189 Give It to Them Straight 190 Serving up the S#&$ Sandwich 192 20 Got-a-Minute Updates 197 The “Say-Do” Ratio 197 Be Prepared to Be Lean and Drive Out Wasteful Words 199 The Most Important Question: Why Am I Here? 204 Part Four Being Brief Summary and Action Plan 207 Resources 219 Notes 221 About the Author 225 Index 227

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Book SynopsisTrain your brain to be a real contrarian and outsmart the crowd Beat the Crowd is the real contrarian's guide to investing, with comprehensive explanations of how a true contrarian investor thinks and acts and why it works more often than not. Bestselling author Ken Fisher breaks down the myths and cuts through the noise to present a clear, unvarnished view of timeless market realities, and the ways in which a contrarian approach to investing will outsmart the herd. In true Ken Fisher style, the book explains why the crowd often goes astrayand how you can stay on track. Contrarians understand how headlines really affect the market and which noise and fads they should tune out. Beat the Crowd is a primer to the contrarian strategy, teaching readers simple tricks to think differently and get it right more often than not. Discover the limits of forecasting and how far ahead you should look Learn why political controversy Trade Review“..a characteristically lively read….a good holiday read for any investor who suspects they may be stuck in their ways and in need of new insights” (Money Observer, July 2015) Table of ContentsPreface ix Chapter 1: Your Brain]Training Guide 1 Wall Street’s Contrarian Contradiction 4 The Curmudgeon’s Conundrum 5 There Is Always a But 6 Why Most Investors Are Mostly Wrong Most of the Time 8 The First Rule of True Contrarianism 12 The All-Seeing Market 13 Different, Not Opposite 14 The Right Frame of Mind 15 Check Your Ego 16 Chapter 2: For Whom the Bell Curve Tolls 19 Wall Street’s Useless/Useful Fascination With Calendars 23 Professional Groupthink 25 How the Contrarian Uses Professional Forecasts 26 Even the Best Fall Sometimes . . . 30 How to Beat the Street 39 Chapter 3: Dracula and the Four Horsemen of the Media Apocalypse 47 The Media’s Flawed Financial Eyesight 50 Dracula Around the Corner 53 Looking for Growth in All the Wrong Places 59 The Magic Indicator 62 War—What Is It Good For? 71 Don’t Be a Cow, Be a Contrarian 77 Chapter 4: Not in the Next 30 Months 81 Baby Boomer Bomb? 85 What About Social Security and Medicare? 86 But What if the “Lost Generation”Stays Lost? 90 What About Debt? 93 But What if Debt Causes Runaway Inflation? 98 But What if America Stops Innovating? 98 But What About Global Warming? 100 What About Income Inequality? 102 What if the Dollar Loses Its Place as the World’s Reserve Currency? 105 What the Markets Know 108 Chapter 5: Take a Safari With Jack Lemmon and Walter Matthau 111 How the Elephant Got Its Tusks 114 Dumbo, Gross Margins and Other High]Flying Elephants 116 When Good News Dresses Up as Bad News 118 The Yield Curve Curveball 121 When Elephants Attack 127 A Brief History of Tragedy 127 When Textbooks Lie 129 It Can’t Be an Elephant If … 134 Chapter 6: The Chapter You’ll Love to Hate 137 Step 1: Ditch Your Biases 140 My Guy Is Best, Your Guy Is Worst and Other Unhelpful Opinions 141 A Magical Elephant Named Gridlock 145 (Not) Just a Bill Sittin’ on Capitol Hill 150 That Which Is Seen and That Which Is Unseen 156 What’s Worse Than a Politician? 158 Why the Government Already Made the Next Crisis Worse 162 Chapter 7: Put Those Textbooks Away 169 Don’t Toss Your Textbooks—But Know Their Limitations! 172 The First Commandment: P/Es Aren’t Predictive 175 The CAPEd Crusader Is No Superhero 178 Small Beats All? 181 Fancy Formulas and Other Academic Kryptonite 184 Theory Isn’t Reality 189 If Not School, Where? 193 Chapter 8: Throw Away This Book! 197 Miley Cyrus, Justin Bieber and Pop Star Economists 200 Classics Are Classic for a Reason 203 Philosophy and Econ 101 209 How to Learn From the Legends 216 Those Who Forget History . . . 225 Classics in the Twenty]First Century 230 Chapter 9: When Miley Cyrus Meets Ben Graham: Misadventures in Behavioral Finance 235 Where It All Began 238 The Beginnings of Behavioral Finance’s Drift 240 When Academics Met Capitalism and Marketing 240 Behavioral Finance and Tactical Positioning 242 Recency Bias and Sentiment 251 How to Gain a Tactical Advantage With Behavioral Finance 254 A Section for Stock Pickers 259 Know When to Say When 266 Getting Back to Self]Control 268 Chapter 10: The Negative Myopic Media 277 How to Use the News 281 What the Media Always Misses 285 In Technology (and Capitalism) We Trust 289 Parting Thoughts 290 Index 293

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Book SynopsisHow to get past the most common myths about creativity to design truly innovative strategies We tend to think of creativity in terms reminiscent of the ancient muses: divinely-inspired, unpredictable, and bestowed upon a lucky few. But when our jobs challenge us to be creative on demand, we must develop novel, useful ideas that will keep our organizations competitive. The Myths of Creativity demystifies the processes that drive innovation. Based on the latest research into how creative individuals and firms succeed, David Burkus highlights the mistaken ideas that hold us back and shows us how anyone can embrace a practical approach, grounded in reality, to finding the best new ideas, projects, processes, and programs. Answers questions such as: What causes us to be creative in one moment and void in the next? What makes someone more or less creative than his or her peers? Where do our flashes of creative insight come from, and how can we generate more of tTrade Review“An engaging book that makes its case in good, clear language… [Burkus] forces us to challenge some widely held assumptions.” —Morgen Witzel, The Financial Times “Outlines how anyone—especially entrepreneurs—can embrace a practical approach to finding the best kind of mojo for new projects, processes and programs.” —Entrepreneur.com (selected as a “Best Business Book to Get Cozy With This Fall”) “We may no longer literally worship the Muses, but the myths surrounding creativity continue to delude us. In this smart and urgent book, David Burkus explodes these myths and replaces them with the scientific results of modern research on creativity and innovation.” —Daniel H. Pink, author, To Sell is Human and Drive “Creative potential is all too often held captive by misconceptions. Burkus tackles the myths head on and digs into the true underpinnings of creative insight. It turns out that great ideas are within your grasp as soon as you take the reins. Read this book to free yourself of the myths and assumptions that burden your true creative potential.” —Scott Belsky, author, Making Ideas Happen and cofounder & CEO, BEHANCE “Through rigorous research and engaging stories, Burkus debunks the myths of creativity and illuminates a creative process that makes ingenuity accessible to all. If you seek a more innovative company, The Myths of Creativity is a brilliant find.” —Liz Wiseman, author, Multipliers, and founder, The Wiseman Group “David Burkus is an important new voice, both as a scholar and storyteller, as well as a commentator of the emerging ‘GenEntrepreneur’ in America.” —Peter Sims, author, Little Bets, and founder, BLK SHP “The Myths of Creativity speaks the truth. The processes, environments, and organizational structures that foster creativity, as well as the obstacles that inhibit innovation, are laid bare. David Burkus uncovers the hidden elements which have been at the core of Continuum's innovation process, driving us to find better answers to the biggest questions.” —Gianfranco Zaccai, president, chief design officer, and founder, Continuum “You must embrace your creative ability in order to thrive in today's marketplace. David Burkus swiftly and effectively debunks the myths that limit your creative firepower.” —Todd Henry, author, The Accidental Creative Table of Contents1 The Creative Mythology 1 2 The Eureka Myth 17 3 The Breed Myth 33 4 The Originality Myth 49 5 The Expert Myth 67 6 The Incentive Myth 87 7 The Lone Creator Myth 105 8 The Brainstorming Myth 125 9 The Cohesive Myth 141 10 The Constraints Myth 159 11 The Mousetrap Myth 177 Notes 195 Acknowledgments 203 About the Author 205 Index 207

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Book SynopsisTechnical analysis expert L.A. Little shows how to identify and trade big market moves Significant money can be made in the stock market by following big trends. In Trend Qualification and Trading, market technician L.A. Little explains how to identify and qualify these trends to determine the likelihood that they will continue and produce better trading results. By combining price, volume, different timeframes, and the relationship between the general market, sectors, and individual stocks, Little shows how to measure the strength of stock trends. Most importantly, he demonstrates how to determine if a trend has what it takes to develop into a major move with greater profit potential or if it is basically a false signal. Takes a proven technical approach to identifying and profiting from financial market trends Shows how to best time entries, when to take profits, and when to exit trades Introduces Little''s proprietary concept, TTable of ContentsForeword xi Acknowledgments xiii Introduction 1 Part I Trend Theory 5 Chapter 1 Redefining Trend 7 Chapter 2 Classical Trend Model 13 Objective of the Model 13 Inputs 14 Model Definition 14 Rules for the Model 15 Applying the Model 18 Summary 22 Chapter 3 Neoclassical Trend Model 25 Objective of the Model 26 Inputs 29 Model Definition 30 Rules for the Model 37 Summary 46 Chapter 4 Determining Trends 49 Fundamentals for the Long Term 49 Swing Point Logic 50 Identifying and Labeling Trends 65 Summary 70 Chapter 5 Qualifying Trends 73 Using Swing Point Tests 73 Trend Continuation and Transitions 75 Retest and Regenerate 97 Summary 106 Part II Application of Trend Theory 109 Chapter 6 Preparing to Trade 111 Overview of Trading Strategies 112 Risk versus Reward 115 Time Frames 116 Summary 125 Chapter 7 Entering and Exiting Trades 127 Support and Resistance 128 Price Zones, Not Lines 131 Defining Entry and Exit Points 136 A Trading Example: Combining Technical Events 161 Summary 166 Chapter 8 Reversals and Price Projections 167 Price Reversals 168 Price Projections 176 Summary 187 Chapter 9 Time Frames 191 Time Frame Analysis 192 Time Frame Integration 197 Establishing a Trading Bias 206 Trade Trend Matrix 212 Summary 214 Chapter 10 Markets, Sectors, and the Trading Cube 215 General Market 216 Market Sectors 217 The Trading Cube 219 Summary 240 Chapter 11 Trading Qualified Trends 243 Example of a Qualified Trend 244 Entering a Trade 249 Exploiting the Trend 258 Exiting the Trade 263 Flipping Trading Positions 268 Concluding Thoughts 272 Notes 275 Glossary of Key Terms 281 About the Author 287 Index 289

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Book SynopsisA detailed and compelling look at distressed securities investing in today's market In the corporate world, vulture investors in distressed securities serve the same cleanup function as vultures do in the natural world: they deal with failing companies, digest bad debt, and mop up after bankruptcies. Since this market's structural and legal complexities create greater inefficiencies than in other investment fields, it's a style of investing that can make money during both booms and busts. While recent economic carnage has made opportunities for vulture investors, more convoluted bankruptcies, conflicts of interest, and even government intervention have made this arena harder to negotiate. Nobody understands this better than author George Schultze, founder of Schultze Asset Management. During his successful career as a vulture investor, he's learned a number of lessons and developed an investment philosophy that has served him well. Now, in The Art of Vulture InvTable of ContentsForeword ix Acknowledgments xi Preface xiii CHAPTER 1 Emerging from the Egg 1 CHAPTER 2 Learning to Scavenge 17 CHAPTER 3 Looking for Prey 39 CHAPTER 4 Waiting On a Limb 63 CHAPTER 5 Swooping In: Tropicana 73 CHAPTER 6 Fighting Over the Carcass: Chrysler 95 CHAPTER 7 Digesting the Remains 115 CHAPTER 8 A Vulture’s Philosophy 131 APPENDIX 1 Net Operating Loss Carry Forwards 139 APPENDIX 2 Copy of Continued Objection by Ad Hoc Committee of Washington Group Class 7 Claim Holders 141 APPENDIX 3 Letter to Washington Group’s Board of Directors 153 APPENDIX 4 Shareholder Complaint against Winn-Dixie Board et al. 157 APPENDIX 5 Objection by Schultze Asset Management to Owens Corning Disclosure Statement About the Authors 185 Index 189

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Book SynopsisFully revised, the proven primer on forensic accounting with all-new cases A must-have reference for every business professional, Forensic Accounting and Fraud Investigation for Non-Experts, Third Edition is a necessary tool for those interested in understanding how financial fraud occurs and what to do when you find or suspect it within your organization. With comprehensive coverage, it provides insightful advice on where an organization is most susceptible to fraud. Updated with new cases and new material on technology tools in forensic accounting Covers the core accounting, investigative, and legal aspects of forensic accounting for professionals new to the field Covers investigative and legal issues along with accounting schemes Written by a team of recognized experts in the field of forensic accounting, Forensic Accounting and Fraud Investigation for Non-Experts, Third Edition is essential reading for accountantTable of ContentsPreface xiii Acknowledgments xv Part I Forensic Accounting and Fraud Overview 1 Chapter 1 Forensic Accounting 3 What Is Forensic Accounting? 3 Why Has Forensic Accounting Become the Buzz? 4 Introduction to a Profession 5 Applications for Forensic Accounting 6 A Third Dimension: Contexts within Each Area of Specialization 11 Conclusion 14 Suggested Readings 15 Notes 15 Chapter 2 Fraud in Society 17 What Is Fraud? 17 Types of Fraud 21 Other Types of Financial Fraud 25 Sarbanes–Oxley 27 What the Numbers Tell Us about Fraud 28 Categories of Occupational Fraud 29 Drawing Conclusions 31 Society’s Perception of Fraud 32 Who Commits Fraud?—Profile of the Typical Fraudster 33 The Social Consequences of Economic Crime 39 Conclusion 39 Suggested Readings 40 Notes 40 Chapter 3 Understanding the Basics of Financial Accounting 43 Where It All Begins 43 The Five Accounting Cycles 46 Journals: Subsidiary and General 54 Conclusion 56 Suggested Readings 56 Note 57 Chapter 4 Forms of Entities 59 Basics of Business Structures 59 Sole Proprietorships 60 Partnerships 60 Corporations 63 Business Enterprises in the Global Environment 66 Conclusion 70 Suggested Readings 70 Notes 72 Chapter 5 Fundamental Principles of Financial Analysis 73 Good Analysis = Due Diligence? 73 Why Perform Financial Analysis? 76 What and Whom Can You Trust? 76 Other Factors to Consider 77 Financial Analysis for the Non-Expert 78 To the Future 85 Conclusion 86 Suggested Readings 87 Notes 87 Chapter 6 The Role of the Accounting Professional 89 The Importance of Accounting Professionals in the Investigation 89 The Audit Process 93 Internal Controls 98 Conclusion 101 Notes 101 Part II Financial Crime Investigation 103 Chapter 7 Business as a Victim 105 Introduction 105 Employee Thefts 106 Fraudulent Billing Schemes 112 Fraud Committed by Outsiders 113 Management Thefts 114 Corporate Thefts 117 Identity Theft 118 Conclusion 120 Suggested Readings 120 Notes 120 CHAPTER 8 Business Villains 123 Introduction 123 Organized Crime and Business 123 Money Laundering 130 Conclusion 137 Suggested Readings 138 Notes 139 Chapter 9 The Investigative Process 143 Introduction 143 Case Initiation 144 Case Evaluation 145 Solvability Factors 147 Goal Setting and Planning 148 Investigation 156 Background 158 Conclusion 166 Suggested Readings 167 Notes 167 Chapter 10 Interviewing Financially Sophisticated Witnesses 169 Introduction 169 The Interview 170 Interviewing Financially Sophisticated Witnesses 185 Conclusion 188 Suggested Readings 189 Notes 190 Chapter 11 Proving Cases through Documentary Evidence 193 Introduction 193 Document Collection 194 Document Organization 207 The Process of Proof 211 The Logic of Argument 213 Proof through Inference 217 Conclusion 221 Suggested Readings 222 Notes 224 Chapter 12 Analysis Tools for Investigators 227 Introduction 227 Why Use Analysis Tools at All? 227 Associational Analysis 229 Temporal Analysis 246 Conclusion 252 Suggested Readings 252 Notes 253 Chapter 13 Inferential Analysis 255 Introduction 255 How Inferential Analysis Helps 255 What Is an Inference Network? 256 Investigative Inference Analysis 259 The Key List 263 Constructing an Investigative Inference Chart 264 Plotting the Chart 268 Some Tips for Charting Success 272 Applying the Chart to the Investigative Process 273 Conclusion 275 Suggested Readings 275 Notes 277 Chapter 14 Documenting and Presenting the Case 279 Introduction 279 Creating a System 279 The Casebook System 280 Report Writing 287 Testifying as a Financial Expert 290 Conclusion 305 Suggested Readings 305 Notes 306 About the Authors 309 Index 311

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Book SynopsisThree decades ago competitiveness was unheard-of; today it has taken the world by storm. But what is it? And will it last? In Top Class Competitors Stéphane Garelli - professor at IMD business school where he is also head of the World Competitiveness Centre, professor at the University of Lausanne, and former managing director of the World Economic Forum - defines competitiveness as the ability of a nation, company or individual to manage a set of disparate competencies to achieve prosperity. For instance, along with traditional policies a nation must tackle education and security to sustain economic development. Companies must manage soft issues such as brands to beat the competition. And individuals must reinvent themselves to survive. These fields of research did not exist until recently - now, competitiveness makes the link. Top Class Competitors is a journey through the brave new world of competitiveness. What are its historical origins? How does it impact the maTrade Review"...this book aims to provide the answers to these and much more." (Credit Control, May 2006) "...a fresh perspective...worth a read." (Gulf Business, August 2006) "...a forward-looking book...could easily be a reference text for students of economics, business studies .... Well written and authoritative...." (Edge, November 2006)Table of ContentsAcknowledgements ix Credits xi Prologue xiii 1 Competitiveness: Changing the Mindset 1 2 The Long and Winding Road to Competitiveness 31 3 Working out National Competitiveness: The Cube Theory 61 4 The Extended Enterprise 117 5 Competitiveness and Work: A Love–Hate Relationship 153 6 Competitiveness and Value Systems 181 7 Competent People and Competitive People: They Are Not The Same . . . 217 Epilogue: A Beautiful, Competitive Mind 251 References 259 Index 265

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Book SynopsisIntroducing the new Fisher Investment Series, comprised of engaging and informative titles written by renowned money manager and bestselling author Ken Fisher. This series offers essential insights into the worlds of investing and finance.Trade Review“…trawl through the biographies of those who have made the markets move for some of the right – and wrong – reasons.” (FT's Investment Adviser, Monday 18th February 2008)Table of ContentsPreface xvii Acknowlegments xxi Foreword xxiii Introduction 1 CHAPTER ONE The Dinosaurs 7 MAYER AMSCHEL ROTHSCHILD Out of the Ghetto and into the Limelight 10 NATHAN ROTHSCHILD When Cash Became King—and Credit Became Prime Minister 13 STEPHEN GIRARD The First Richest Man in America Financed Privateers 17 JOHN JACOB ASTOR A One-Man Conglomeration 20 CORNELIUS VANDERBILT A Man Above The Law 23 GEORGE PEABODY A Finder of Financing and Financiers 26 JUNIUS SPENCER MORGAN The Last of the Modern Manipulators 29 DANIEL DREW Much “To Drew” About Nothing 32 JAY COOKE Stick To Your Knitting 36 CHAPTER TWO Journalists and Authors 39 CHARLES DOW His Last Name Says It All 41 EDWARD JONES You Can’t Separate Rodgers and Hammerstein 44 THOMAS W. LAWSON “Stock Exchange Gambling is the Hell of it All . . . ” 47 B.C. FORBES He Made Financial Reporting Human 51 EDWIN LEFEVRE You Couldn’t Separate His Facts from His Fiction 53 CLARENCE W. BARRON A Heavyweight Journalist 56 BENJAMIN GRAHAM The Father of Security Analysis 59 ARNOLD BERNHARD The Elegance of Overview on a Single Page 63 LOUIS ENGEL One Mind that Helped Make Millions More 67 CHAPTER THREE Investment Bankers and Brokers 71 AUGUST BELMONT He Represented Europe’s Financial Stake in America 74 EMANUEL LEHMAN AND HIS SON PHILIP Role Models For So ManyWall Street Firms 77 JOHN PIERPONT MORGAN History’s Most Powerful Financier 80 JACOB H. SCHIFF The Other Side of the Street 84 GEORGE W. PERKINS He Left the Comfy House of Morgan to Ride a Bull Moose 87 JOHN PIERPONT “JACK” MORGAN, JR. No One Ever Had Bigger Shoes to Fill 90 THOMAS LAMONT The Beacon for a Whole Generation 94 CLARENCE D. DILLON He Challenged Tradition and Symbolized the ChangingWorld 98 CHARLES E. MERRILL The Thundering Herd Runs Amok in the Aisles of the Stock Market’s Supermarket 101 GERALD M. LOEB The Father of Froth—He Knew the Lingo, Not the Logic 104 SIDNEY WEINBERG The Role Model for Modern Investment Bankers 108 CHAPTER FOUR The Innovators 113 ELIAS JACKSON “LUCKY” BALDWIN When You’re Lucky, You Can Go Your OwnWay 116 CHARLES T. YERKES He Turned Politics into Monopolistic Power 120 THOMAS FORTUNE RYAN America’s First Holding Company 123 RUSSELL SAGE A Sage for all Seasons 126 ROGER W. BABSON Innovative Statistician and NewsletterWriter 129 T. ROWE PRICE Widely Known as the Father of Growth Stocks 133 FLOYD B. ODLUM The Original Modern Corporate Raider 137 PAUL CABOT The Father of Modern Investment Management 141 GEORGES DORIOT The Father of Venture Capital 145 ROYAL LITTLE The Father of Conglomerates 149 CHAPTER FIVE Bankers and Central Bankers 153 JOHN LAW The Father of Central BankingWasn’t Very Fatherly 157 ALEXANDER HAMILTON The Godfather of American Finance 161 NICHOLAS BIDDLE A Civilized Man Could Not Beat a Buccaneer 164 JAMES STILLMAN Psychic Heads America’s Largest Bank 167 FRANK A. VANDERLIP A Role Model for AnyWall StreetWanna-Be 171 GEORGE F. BAKER Looking Before Leaping Pays off 174 AMADEO P. GIANNINI Taking the Pulse ofWall Street Out of New York 177 PAUL M. WARBURG Founder and Critic of Modern American Central Banking 180 BENJAMIN STRONG Had Strong Been Strong the Economy Might Have Been, Too 183 GEORGE L. HARRISON No, This Isn’t the Guy From the Beatles 187 NATALIE SCHENK LAIMBEER Wall Street’s First Notable Female Professional 190 CHARLES E. MITCHELL The Piston of the Engine that Drove the Roaring 20s 192 ELISHA WALKER America’s Greatest Bank Heist—Almost 195 ALBERT H. WIGGIN Into the Cookie Jar 198 CHAPTER SIX New Deal Reformers 203 E.H.H. SIMMONS One of the Seeds of Too Much Government 206 WINTHROP W. ALDRICH A Blue Blood Who Saw Red 209 JOSEPH P. KENNEDY Founding Chairman of the SEC 212 JAMES M. LANDIS The Cop Who Ended Up in Jail 216 WILLIAM O. DOUGLAS The Supreme Court Judge onWall Street? 220 CHAPTER SEVEN Crooks, Scandals, and Scalawags 225 CHARLES PONZI The Ponzi Scheme 228 SAMUEL INSULL He “Insullted”Wall Street and Paid the Price 231 IVAR KREUGER He PlayedWith Matches and Got Burned 235 RICHARD WHITNEY Wall Street’s Juiciest Scandal 239 MICHAEL J. MEEHAN The First Guy Nailed by the SEC 243 LOWELL M. BIRRELL The Last of the Great Modern Manipulators 246 WALTER F. TELLIER The King of the Penny Stock Swindles 250 JERRY AND GERALD RE A Few Bad Apples Can Ruin the Whole Barrel 254 CHAPTER EIGHT Technicians, Economists, and Other Costly Experts 257 WILLIAM P. HAMILTON The First Practitioner of Technical Analysis 260 EVANGELINE ADAMS By Watching the Heavens She Became a Star 263 ROBERT RHEA He Transformed Theory into Practice 266 IRVING FISHER TheWorld’s Greatest Economist of the 1920s, or Why You Shouldn’t Listen to Economists—Particularly Great Ones 270 WILLIAM D. GANN Starry-Eyed Traders “Gann” an Angle Via Offbeat Guru 274 WESLEY CLAIR MITCHELL Wall Street’s Father of Meaningful Data 278 JOHN MAYNARD KEYNES The Exception Proves the Rule I 281 R.N. ELLIOTT Holy Grail or Quack? 285 EDSON GOULD The Exception Proves the Rule II 289 JOHN MAGEE Off the Top of the Charts 292 CHAPTER NINE Successful Speculators, Wheeler-Dealers, and Operators 295 JAY GOULD Blood Drawn and Blood Spit—Gould or Ghoul-ed? 298 “DIAMOND” JIM BRADY Lady LuckWas on His Side—Sometimes 302 WILLIAM H. VANDERBILT He Proved His FatherWrong 305 JOHN W. GATES What Can You Say About a Man Nicknamed “Bet-a-Million”? 308 EDWARD HARRIMAN Walk Softly and Carry a Big Stick 311 JAMES J. HILL When Opportunity Knocks 314 JAMES R. KEENE Not Good Enough for Gould, But Too Keen for Anyone Else 317 HENRY H. ROGERS Wall Street’s Bluebeard: “Hoist the Jolly Roger!” 320 FISHER BROTHERS Motortown Moguls 323 JOHN J. RASKOB Pioneer of Consumer Finance 327 ARTHUR W. CUTTEN Bully the Price, Then Cut’n Run 330 BERNARD E. “SELL ’EM BEN” SMITH The Rich Chameleon 333 BERNARD BARUCH HeWon and Lost, But Knew When to Quit 337 CHAPTER TEN Unsuccessful Speculators, Wheeler-Dealers, and Operators 341 JACOB LITTLE The First to Do so Much 343 JAMES FISK If You Knew Josie Like He Knew Josie, You’d Be Dead Too! 346 WILLIAM CRAPO DURANT Half Visionary Builder, HalfWild Gambler 349 F. AUGUSTUS HEINZE Burned by Burning the Candle at Both Ends 353 CHARLES W. MORSE Slick and Cold as Ice, Everything He Touched . . . Melted 357 ORIS P. AND MANTIS J. VAN SWEARINGEN He Who Lives by Leverage, Dies by Leverage 360 JESSE L. LIVERMORE The Boy Plunger and Failed Man 364 CHAPTER ELEVEN Miscellaneous, But Not Extraneous 369 HETTY GREEN The Witch’s Brew, or . . . It’s Not Easy Being Green 371 PATRICK BOLOGNA The Easy Money—Isn’t 375 ROBERT R. YOUNG And It’s Never Been the Same Since 378 CYRUS S. EATON Quiet, Flexible, and Rich 381 Conclusion 385 Appendix 387 Index 419

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Book SynopsisToday''s investor is faced with a myriad of investment options and strategies. Whether you are seeking someone to manage your money or are a self-directed investor deciding to tackle the market on your own, the options can be overwhelming. In an easy-to-read and simple format, this book will dissect the strategies of some of Wall Street''s most successful investment gurus and teach readers how to weed through the all of the choices to find a strategy that works for them. The model portfolio system that author John Reese developed turns each strategy into an actionable system, addressing many of the common mistakes that doom individual investors to market underperformance. This book will focus on the principles behind the author''s multi-guru approach, showing how investors can combine the proven strategies of these legendary gurus into a disciplined investing system that has significantly outperformed the market. Gurus covered in the book are: Benjamin Graham;Table of ContentsAcknowledgements ix Introduction xi Part One Why You Need this Book 1 Chapter 1 Learn from the Worst 3 Chapter 2 The Cavalry Arrives 19 Part Two The Value Legends 31 Chapter 3 Benjamin Graham: The Granddaddy of the Gurus 33 Chapter 4 John Neff: The Investor’s Investor 55 Chapter 5 David Dreman: The Great Contrarian 73 Chapter 6 Warren Buffett: The Greatest Guru 95 Part Three The Growth Legends (With a Value Twist) 127 Chapter 7 Peter Lynch: The Star “GARP” Manager 129 Chapter 8 Kenneth L. Fisher: The Price-Sales Pioneer 155 Chapter 9 Martin Zweig: The Conservative Growth Investor 175 Part Four The Pure Quants 197 Chapter 10 James O’Shaughnessy: The Quintessential Quant 199 Chapter 11 Joel Greenblatt: The Man with the Magic Formula 219 Chapter 12 Joseph Piotroski: The Undiscovered Academic 233 Part Five From Theory to Practice 247 Chapter 13 Putting It Together: The Principles of Guru Investing 249 Chapter 14 The Missing Piece: Determining When to Sell 269 Conclusion Time To Take The Wheel 279 Appendix A Performance of Guru-Based 10- and 20-Stock Model Portfolios 283 Appendix B Guru Yearly Track Record Comparison (Actual or Back-Tested Returns) 287 References 295 About the Authors 303 Index 305

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Book SynopsisExchange-traded funds (ETFs) are revolutionizing the investment industry. From their introduction in 1993, ETFs have expanded exponentially over the past fifteen years. You, as an informed investor, need to know what makes ETFs unique, how they work, and which funds may help you achieve your financial goals.Table of ContentsForeword ix Acknowledgments xiii Introduction xv PART I ETF BASICS Chapter 1 ETFs from Evolution to Revolution 3 Chapter 2 The Nuts and Bolts of ETFs 23 Chapter 3 Types of Exchange-Traded Portfolios 41 Chapter 4 ETF Benefits and Drawbacks 57 Chapter 5 Actively Managed ETFs 73 PART II INDEXES THAT ETFs FOLLOW Chapter 6 Benchmark Indexes and Strategy Indexes 81 Chapter 7 Index Strategy Boxes 93 Chapter 8 Index Security Selection 107 Chapter 9 Index Security Weighting 127 PART III ETF STYLES AND CHOICES Chapter 10 Broad U.S. Equity and Style ETFs 149 Chapter 11 Global Equity ETFs 171 Chapter 12 Industry Sector ETFs 189 Chapter 13 Special Equity ETFs 209 Chapter 14 Fixed Income ETFs 231 Chapter 15 Commodity and Currency ETFs 247 PART IV PORTFOLIO MANAGEMENT USING ETFs Chapter 16 Portfolio Management Strategies 269 Chapter 17 Passive ETF Portfolios 277 Chapter 18 Life Cycle Investing 293 Chapter 19 Active Portfolio Management with ETFs 307 Chapter 20 Special Portfolio Strategies 325 Chapter 21 Operational Tips for ETF Investors 335 Appendix A Index Strategy Box Abbreviation Guide 347 Appendix B ETF Resource List 349 Glossary 353 Index 367 About the Author 376

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Book SynopsisA completely original approach to trading using price bar charts In Reading Price Charts Bar by Bar, Al Brooks--a technical analyst for Futures magazine and an independent trader--demonstrates how the information gleaned from this method can significantly enhance trading returns, while minimizing downside risk.Table of ContentsPreface xiii CHAPTER 1 Price Action 1 Trend Bars and Doji Bars 7 Bar Basics: Signal Bars, Entry Bars, Setups, and Candle Patterns 11 Signal Bars: Reversal Bars 13 Signal Bars: Other Types 17 Outside Bars 36 The Importance of the Close of the Bar 42 Exchange Traded Funds (ETFs) and Inverse Charts 45 Second Entries 46 Late and Missed Entries 49 CHAPTER 2 Trendlines and Trend Channels 51 Trendlines 51 Micro Trendlines: Small, Steep Trendlines in Strong Trends 55 Horizontal Lines: Swing Points and Other Key Price Levels 61 Trend Channel Lines 63 Dueling Lines: Intersecting Trendline and Trend Channel Line 68 CHAPTER 3 Trends 71 Two Legs 75 Signs of Strength 76 Common Trend Patterns 81 Trend from the Open 82 Reversal Day 86 Trend Resumption Day 86 Trending Trading Range Days 88 Tight Channels and Spike and Channel Bull or Bear 91 Stairs: Broad Channel Trend 95 CHAPTER 4 Pullbacks 99 First Pullback Sequence: Bar, Minor Trendline, EMA, EMA Gap, Major Trendline 101 Double Top Bear Flags and Double Bottom Bull Flags 104 EMA and Gap EMA Pullbacks 108 2 HM: If Away from EMA for Two or More Hours, Then Fade EMA and First EMA Gap Bar 110 Trend Day 11:30 Stop Run Pullback to Trap You Out 112 Counting the Legs of a Trend 114 High/Low 1, 2, 3, and 4 118 Variations of High/Low 2 Setups 128 Three Push Pullbacks 132 CHAPTER 5 Trading Ranges 137 Tight Trading Ranges 138 Barb Wire 142 Middle of the Day, Middle of the Range 148 Big Up, Big Down 150 Trading Ranges Setting Up Trend Reversals 152 CHAPTER 6 Breakouts 155 Breakout Entries in Strong Trend 156 Breakout Pullbacks and Breakout Tests 158 CHAPTER 7 Magnets 165 Measured Moves Based on the First Pullback (AB = CD) 165 Measured Moves on Breakouts Based on Thin Areas and on Flags 167 Reversals Often End at Signal Bars from Prior Failed Reversals 171 Other Price Magnets 172 CHAPTER 8 Trend Reversals 175 Trendline Break 184 Trend Channel Line Failed Breakouts: Climaxes, Parabolas, and V Tops and Bottoms 187 Signs of Strength in the First Leg of a Reversal 188 Trends Reverse with a Test: Either an Undershoot or an Overshoot 190 Double Top and Bottom Pullbacks 202 Climax: Spike and Trading Range Reversals 207 Climax: Three Pushes and Wedges (Trend Channel Line Overshoots and Reversals) 210 Expanding Triangles 215 CHAPTER 9 Minor Reversals: Failures 221 Failed Signal and Entry Bars and One-Tick Failed Breakouts 222 Failed High/Low 2 226 Failed Higher High and Lower Low Breakouts 229 Failed Trendlines and Trend Channel Lines 234 Failed Reversals 239 Failed Final Flags: Tight Trading Range 243 Failed Final Flags: Huge Trend Bar 245 Failed Wedges 247 Failed Scalps: Five-Tick Failed Breakouts and Failure to Reach a Scalper’s Profit Target 251 CHAPTER 10 Day Trading 255 Selecting a Market 256 Time Frames and Chart Types 258 Globex, Pre-Market, Post-Market, and Overnight Market 267 Scalping, Swinging, Trading, and Investing 269 Always in the Market 273 Have at Least Two Reasons to Enter a Trade 275 Entering on Stops 277 Protective Stops and Getting Trapped In or Out of a Trade 281 CHAPTER 11 The First Hour 289 Patterns Related to the Premarket 291 Patterns Related to Yesterday 292 Trend Bar on Gap Open: First or Second Bar 302 Gap Openings: Reversals and Continuations 303 Trend from the Open or Trend from the First Bar 305 Third Bar of the Day and the 15-Minute Close 310 Strong Trend Bars in the First Hour Often Predict Strength Later in the Day in the Same Direction 311 Opening Patterns and Reversals 313 Double Bottom and Double Top Flags 317 Trading Range Breakouts 319 First Pullback 321 CHAPTER 12 Detailed Day Trading Examples 325 CHAPTER 13 Daily, Weekly, and Monthly Charts 331 Huge Volume Reversals 343 CHAPTER 14 Options 347 CHAPTER 15 Best Trades 353 Major Reversals 357 Minor Reversal Scalps during Trading Range Days 368 Pullbacks in a Strong Trend 369 Intraday Stocks 374 Trading Guidelines 381 Glossary 387 About the Author 395 Index 397

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Book SynopsisThere are many ways to make money in today's market, but the one strategy that has truly proven itself over the years is value investing. Now, with The Little Book of Value Investing, Christopher Browne shows you how to use this wealth-building strategy to successfully buy bargain stocks around the world.Trade Review"Fools would be well-served to place The Little Book of Value Investing on their holiday shopping lists". (Fool.com, December 12, 2006) "sharply written...gets you fired up about buying stocks" (USA Today, December 4, 2006) "If you are a value investor by temperament, you will (or should) find a lot that is persuasive in what Christopher Browne has to say about the craft of value investing in a delightful new book out this autumn...It is nicely written and utterly persuasive if long-term investment success is what you are after and your temperament is equipped to handle the psychological pressures of making non-consensus investments." (The Independent, November 2006) "elegant new treatise on the art of value investing. . ." (Financial Times (UK), October 30, 2006) "...easily digestible and shortish treatise for anyone who wants to try out this particular investment strategy". (The Wall Street Journal, October 10, 2006) "After 37 years of practicing what Graham preached, Browne has distilled the creed into a disarmingly chatty primer. . ." (Bloomberg) "one of the best guidebooks toward protecting and growing a retirement nest egg. This advice comes from a legend of value investing, and it’s presented with enough clarity that anyone can follow it." (Forbes.com)Table of ContentsForeword xi Acknowledgments xix Introduction xxiii Chapter One Buy Stocks like Steaks . . . On Sale 1 Chapter Two What’s It Worth? 10 Chapter Three Belts and Suspenders for Stocks 18 Chapter Four Buy Earnings on the Cheap 26 Chapter Five Buy a Buck for 66 Cents 35 Chapter Six Around the World with 80 Stocks 41 Chapter Seven You Don’t Need to Go Trekking with Dr. Livingston 49 Chapter Eight Watch the Guys in the Know 58 Chapter Nine Things That Go Bump in the Market 63 Chapter Ten Seek and You Shall Find 70 Chapter Eleven Sifting Out the Fool’s Gold 78 Chapter Twelve Give the Company a Physical 87 Chapter Thirteen Physical Exam, Part II 94 Chapter Fourteen Send Your Stocks to the Mayo Clinic 102 Chapter Fifteen We Are Not in Kansas Anymore! (When in Rome . . .) 114 Chapter Sixteen Trimming the Hedges 119 Chapter Seventeen It’s a Marathon, Not a Sprint 123 Chapter Eighteen Buy and Hold? Really? 130 Chapter Nineteen When Only a Specialist Will Do 139 Chapter Twenty You Can Lead a Horse to Water, But . . . 145 Chapter Twenty-One Stick to Your Guns 156 Don’t Take My Word for It 165 Bibliography 177

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Book SynopsisThe Business Gamehere's how you can win! Are you a business owner, manager, or employee who struggles with: Taxes, cash flow, sales, and profits Marketing and advertising effectiveness Hiring, motivating, and managing talent The economy, stock market, and competitors Bosses, boards, stockholders and partners Never-ending to-do lists and sacrificing your quality of life to succeed? If you answered yes to any of these, you've been playing The Business Game and suffering the consequences. Even if you're rolling in profits right now, there are hidden costs you're paying to earn that moneymoney that's always at risk. You learned the rules and you've been faithful to them, thinking you can win. But you can't really win The Business Game, because it's designed to be unwinnablethat is, as long as you play by the rules you were taught. The only way to truly win is to bust loose from the old game andTable of ContentsForeword John Assaraf vii Introduction xi Chapter 1 The Big Lie 1 Chapter 2 The Big Truth 15 Chapter 3 The Fantasy Factory 33 Chapter 4 Dropping Anchors 43 Chapter 5 The Physics of Fiction 53 Chapter 6 The Two Ps 65 Chapter 7 The Many Faces of Power 79 Chapter 8 The Myth of Cause and Effect 87 Chapter 9 Redefining the Nature of Business 95 Chapter 10 The Sun and Clouds Effect 107 Chapter 11 Assembling the Drill—Part 1 119 Chapter 12 Assembling the Drill—Part 2 135 Chapter 13 Stranger in a Strange Land 161 Chapter 14 When the Going Gets Tough 191 Chapter 15 Recreating Yourself, Your Team, Your Customers, Your Business, and Everything in Between 199 Chapter 16 Red Pill or Blue Pill? 231 Appendix Additional Support Resources 245 Expressions of Appreciation 251 Index 255

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Book SynopsisProven principles and tactics for successful selling in the expanding luxury goods market Customers of high-end products hold extremely high expectations in terms of customer service.Table of ContentsForeword by Alain-Dominique Perrin xi Acknowledgments xiii Introduction xv Part One: Initial Thoughts 1 1 The Vital Role of the Sales Ambassador 3 2 In the eyes of the customer, the Sales Ambassador is the brand 5 3 Loyalty begins with the fi rst contact 6 4 Keep in mind how you like to be treated 7 5 There are customers behind customers 8 6 The incredible loss from one lost customer 9 7 The emotional side of the purchase 10 8 The island vacation or the earrings? 11 9 The price is only one of the factors 12 10 The “Wow” comes when you go beyond expectations 13 11 Discretion and confi dentiality 14 Part Two: The Frame of Mind of the Sales Ambassador 17 12 Be a person before being a Sales Ambassador 19 13 Turn every contact into an experience 20 14 Get inside the customer’s story 21 15 Congratulate customers 23 16 Compliment your customers 24 17 Every complaint is an opportunity 25 18 The other competitor 26 19 Service costs nothing 28 20 The great danger of prejudices and preconceived ideas 29 21 Work as a team player 30 22 Relationships and mistakes 31 Part Three: The Savoir-Faire of the Sales Ambassador 35 23 The successful selling style 37 24 Life is a celebration 38 25 Use each contact to inform and educate 39 26 The power of timing 40 27 Time is a precious sales tool 42 28 The art of using silence 44 29 Music as a metaphor for selling 45 30 Select the words you use carefully 46 31 Tones, rhythms, and volumes 47 32 The competition, your customers, and your advantages 48 33 Personalize your service 49 34 Pleasure comes from consistency 50 35 Maintain your energy 51 36 Make someone’s day 53 37 Each telephone contact is another opportunity 54 38 Analyze the sale you made 56 39 Analyze the situation when the customer did not buy 58 Part Four: Preparing to Sell 61 40 The impact of the right atmosphere on customers 63 41 Luxury is in the details 65 42 Keep the service level up even when things are busy 66 43 Prepare your selling tools 68 44 Know what you have in stock 69 45 Learn how each creation was crafted 70 46 Know what is happening in your city 71 Part Five: Welcoming and Discovering the Customer 73 47 A greeting needs a smile 75 48 Your body language speaks louder than words 76 49 Listening with your eyes 77 50 The importance of discovery 79 51 The gift purchase 81 52 The power of questions (quality over quantity) 82 53 Be a careful listener 84 54 Find out how your customer feels about your brand 85 55 Make statements to obtain information 86 56 Introduce yourself 87 57 “Just looking” 88 58 The art and importance of reformulation 90 Part Six: Proposing, Romancing, and Handling Objections 93 59 Keep your proposals simple 95 60 Create curiosity 96 61 Handle everything you sell as a precious object 98 62 Position the offer 100 63 Make clever use of the light 102 64 Romance your creations to enhance the emotions 103 65 Storytelling 104 66 Invite the customer to try on the model 106 67 “Wrap” the price as if it were a gift 108 68 The art of exploring “Let me think about it” 109 69 Prepare for dealing with objections 111 Part Seven: Concluding and Making Additional Sales 113 70 Be aware of buying signals 115 71 Tips to conclude 117 72 Suggest the best solution 119 73 The importance of reassuring when concluding 120 74 “Picture” the purchase 122 75 Advise customers about maintaining their purchase 123 76 Suggest ways of offering a gift 125 77 The additional sale 126 Part Eight: Building Customer Loyalty 129 78 Loyalty comes from offering gifts linked to the purchase 131 79 Offer two business cards 132 80 Make a good last impression 133 81 Every departure is a preparation for another visit 134 82 Loyalty comes from remembering your customers 136 83 The database is an essential tool 137 84 Celebrate the newborn 138 85 Build loyalty by staying in touch 140 86 Ask for a referral 142 87 Customer after-sales service and the broken dream 144 88 The ideal after-sales service scenario 146 Outcomes of the Eight Stories 149 Conclusion 153 Index 156

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Book SynopsisContentsList Of Charts And Tables ForewordEditor '' ''s NoteIntroduction PART I: INVESTMENT PHILOSOPHY1. Capital Cycle Revolution1.1 Evolution Of Cooperation (February 2004)1.2 Cod Philosophy (August 2004)1.3 This Time '' ''s No Different (May 2006)1.4 Supercycle Woes (May 2011)1.5 No Small Beer (February 2010)1.6 Oil Peak (February 2012)1.7 Major Concerns (March 2014)1.8 A Capital Cycle Revolution (March 2014)1.9 Growth Paradox (September 2014)2. Value In Growth2.1 Warning Labels (September 2002)2.2 Long Game (March 2003)2.3 Double Agents (June 2004)2.4 Digital Moats (August 2007)2.5 Quality Time (August 2011)2.6 Escaping The Semis '' '' Cycle (February 2013)2.7 Research Enabler (March 2013)2.8 Value In Growth (August 2013)2.9 Quality Control (May 2014)2.10 Under The Radar (February 2015)3. Management Matters3.1 Food For Thought (September 2003)3.2 Meet The ManTrade Review“Capital Returns brings together industrial economics, Michael Porter’s competitive analysis and behavioral finance, into a powerful long-term investment approach that Marathon Asset Management calls ‘capital cycle’ analysis. … This is one of the best investing books I’ve read. Highly recommended!” (Strictly Value, strictlyvalue.wordpress.com, January, 2016)“First, it covers an important and underappreciated subject, the capital cycle. Second, it contains a superb introduction by one of the great financial writers of our era, Edward Chancellor. … Capital Returns explores an oft-neglected mechanism in the capital markets. It will prove profitable reading for any finance professional, and for the securities analyst, it is essential reading.” (William J. Bernstein, CFA Institute Publications, cfapubs.org, Vol. 11 (1), 2016)Table of ContentsContentsList Of Charts And Tables ForewordEditor '' ''s NoteIntroduction PART I: INVESTMENT PHILOSOPHY1. Capital Cycle Revolution1.1 Evolution Of Cooperation (February 2004)1.2 Cod Philosophy (August 2004)1.3 This Time '' ''s No Different (May 2006)1.4 Supercycle Woes (May 2011)1.5 No Small Beer (February 2010)1.6 Oil Peak (February 2012)1.7 Major Concerns (March 2014)1.8 A Capital Cycle Revolution (March 2014)1.9 Growth Paradox (September 2014)2. Value In Growth2.1 Warning Labels (September 2002)2.2 Long Game (March 2003)2.3 Double Agents (June 2004)2.4 Digital Moats (August 2007)2.5 Quality Time (August 2011)2.6 Escaping The Semis '' '' Cycle (February 2013)2.7 Research Enabler (March 2013)2.8 Value In Growth (August 2013)2.9 Quality Control (May 2014)2.10 Under The Radar (February 2015)3. Management Matters3.1 Food For Thought (September 2003)3.2 Meet The Management (March 2007)3.3 Cyclical Misteps (August 2010)3.4 A Capital Allocator (September 2010)3.5 Northern Stars (March 2011)3.6 Say On Pay (February 2012)3.7 Happy Families (March 2012)3.8 The Wit And Wisdom Of Johann Rupert (June 2013)3.9a Meeting Of Minds (June 2014)3.10 Culture Vulture (February 2015)PART II - BOOM, BUST, BOOM4. Accidents-In-Waiting 4.1 Accidents-In-Waiting (2002-08)4.2 The Builders '' '' Bank (May 2004)4.3 Insecuritization (November 2002)4.4 Carry On Private Equity (December 2004)4.5 Blowing Bubbles (May 2006)4.6 Pass The Parcel (February 2007)4.7 Property Fiesta (February 2007)4.8 Conduit Street (August 2007)4.9 On The Rocks (September 2007)4.10 Seven Deadly Sins (November 2009)5. The Living Dead5.1 Right To Buy (November 2008)5.2 Spanish Deconstruction (November 2010)5.3 Piigs Can Fly (November 2011)5.4 Broken Banks (September 2012)5.5 Twilight Zone (November 2012)5.6 Capital Punishment (March 2013)5.7 Living Dead (November 2013)5.8 Relax, Mr Piketty (August 2014)6. China Syndrome 6.1 Oriental Tricks (February 2003)6.2 Dressed To Impress (November 2003)6.3 Game Of Loans (March 2005)6.4 What Lies Beneath (February 2014)6.5 Value Traps (September 2014)7. Inside The Mind Of Wall Street7.1 A Complaint (December 2003)7.2 Private Party (December 2005)7.3 Christmas Cheer (December 2008)7.4 Former Greedspin Boss Flees China (December 2010)7.5 Occupy Bundestag (December 2011)7.6 Season '' ''s Greetings (December 2012)7.7 Lunch With The Gir (December 2013)7.8 All Change (December 2014)

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Book SynopsisDiscover the secrets of written persuasion! "The principles of hypnosis, when applied to copywriting, add a new spin to selling. Joe Vitale has taken hypnotic words to set the perfect sales environment and then shows us how to use those words to motivate a prospect to take the action you want.Trade Review"…[gives] a huge amount of useful advice and ideas…lots of valuable references too…" (Professional Marketing, June 2007)Table of ContentsAuthor’s Warning. Acknowledgments. Introduction John Burton. 1 It’s Time to Awaken. 2 Stop! Do This First. 3 What Is Impossible? 4 A Disclaimer. 5 A Beginning. 6 Agatha Christie Proves Hypnotic Writing Exists. 7 My Secret to Hypnotic Writing. 8 You Can’t Even Bribe Me to Read a Lousy Letter! 9 What Is Hypnotic Writing? 10 Hypnotic Writing: A Case Study. 11 The Great Intimacy Secret. 12 What’s More Important than Copy? 13 Hypnotic Writing Controlled Study. 14 How I Learned the Secret of Hypnotic Writing. 15 What Is Hypnosis? 16 Two Ways to Cause Action. 17 What About Your Web Site? 18 How Long Is Too Long? 19 What Every Reader Wants to Know. 20 The Hypnotic Power of Repetition. 21 The Inner Game of Hypnotic Writing. 22 Imitation Sugar Is Sweet, Too! 23 How to Jump-Start the Muse. 24 How to Nail Your Reader’s Attention. 25 How to Make Your Writing Walk, Talk, and Breathe. 26 Give Me Some Meat! 27 A Writing Lesson from the World’s Greatest Hypnotist. 28 Electrifying Tips for Creating Breakthrough Writing. 29 A Case against Perfection. 30 How to Persuade Readers to Your Side. 31 Warp Speed Editing Secrets Worth Killing For. 32 How to Make Your Writing Sexy. 33 How People Think. 34 How to Create Hypnotic Stories. 35 How to Control the “Command Center” in Your Prospect’s Mind. 36 The One Hypnotic Command That Always Works. 37 What I Learned from The Sea Wolf . 38 Your Turning Point Message. 39 What Everyone Will Always Read. 40 Your Connotation Is Showing. 41 What Are My Secrets for Writing Hypnotic Selling Stories? 42 Hypnotic Blogging. 43 Reminders as Triggers. 44 How to Change Average Writing into Hypnotic Writing. 45 30 Ways to Write a Hypnotic Headline. 46 Hypnotic Openings. 47 Hypnotic Quiz. 48 My Three Biggest Secrets. 49 How Much Is That Doggie in the Window? 50 How to Change Perception. 51 At Last! The Joe Vitale Hypnotic Writing Formula. 52 A New Hypnotic Copy Checklist. 53 The Five Secret Laws of Hypnotic Persuasion. 54 The Seven Most Hypnotic Books of All Time. 55 The Hypnotic Writing Formula. 56 Your Challenge. Appendix: Hypnotic E-Mails. Bibliography. Index. About Dr. Joe Vitale. Bonus Offer.

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Book SynopsisInside markets, innovation, and risk Why do markets keep crashing and why are financial crises greater than ever before? As the risk manager to some of the leading firms on Wall Streetfrom Morgan Stanley to Salomon and Citigroupand a member of some of the world's largest hedge funds, from Moore Capital to Ziff Brothers and FrontPoint Partners, Rick Bookstaber has seen the ghost inside the machine and vividly shows us a world that is even riskier than we think. The very things done to make markets safer, have, in fact, created a world that is far more dangerous. From the 1987 crash to Citigroup closing the Salomon Arb unit, from staggering losses at UBS to the demise of Long-Term Capital Management, Bookstaber gives readers a front row seat to the management decisions made by some of the most powerful financial figures in the world that led to catastrophe, and describes the impact of his own activities on markets and market crashes. Much of the innovation of the last 30 yearsTrade Review“Mr. Bookstaber wrote one of the best books about the causes of the financial crisis, A Demon of Our Own Design, and did so before the crisis erupted.”-- Floyd Norris, New York Times (June 25, 2009) "A risk-management maven who's been on Wall Street for decades…Bookstaber's book shows us some complex strategies that very smart people followed to seemingly reduce risk—but that led to huge losses." (Newsweek) "Mr. Bookstaber is one of Wall Street's 'rocket scientists'--mathematicians lured from academia to help create both complex financial instruments and new computer models for making investing decisions. In the book, he makes a simple point: The turmoil in the financial markets today comes less from changes in the economy--economic growth, for example, is half as volatile as it was 50 years ago--and more from some of the financial instruments (derivatives) that were designed to control risk." (The New York Times) "Bright sparks like Mr Bookstaber ushered in a revolution that fuelled the boom in financial derivatives and Byzantine 'structured products.' The problem, he argues, is that this wizardry has made markets more crisis-prone, not less so. It has done this in two ways: by increasing complexity, and by forging tighter links between various markets and securities, making them dangerously interdependent." (The Economist) "He understands the inner workings of financial markets...A liberal sparkling of juicy stories from the trading floor..." (The Economist) "…smart book…Part memoir, part market forensics, the book gives an insider's view…" (Bloomberg News) "Like many pessimistic observers, Richard Bookstaber thinks financial derivatives, Wall Street innovation and hedge funds will lead to a financial meltdown. What sets Mr. Bookstaber apart is that he has spent his career designing derivatives, working on Wall Street and running a hedge fund." (The Wall Street Journal) "Every so often [a book] pops out of the pile with something original to say, or an original way of saying it. Richard Bookstaber, in A Demon of Our Own Design: Markets, Hedge Funds, and the Perils of Financial Innovation, accomplishes both of these rare feats." (Fortune) "a must-read amidst the current market chaos" (BusinessWeek.com) "Bookstaber is a former academic who went on to head risk management for Morgan Stanley and now runs a large hedge fund. He knows the subject and has written a lucid and readable book. To his aid he calls mathematics (from Bertrand Russell to Godel's theorem); physics (particularly Heisenberg's uncertainty principle); and even -- meteorology." (Financial Times) "The book covers a lot about risk management that is relevant to capital markets conditions today and the liquidity crisis." (Financial Times, Saturday 25th August) "...an insider's guide to markets, hedge funds and the perils of financial innovation. We saw plenty of those in 2007." (The Sunday Telegraph, Sunday 25th November 2007) "I cannot recommend this book too highly. It is a clear exposition of what the combination of derivatives, leverage and hedge funds can do to the markets. In short, A Demon of our Own Design is a guide to the dangerous financial markets we have created for ourselves by the clever innovations of structured finance, derivatives, credit default swaps and other newfangled products that are a mystery to the ordinary investor and even plenty of the sophisticates in the investment business. To understand the demonic risks we're taking, read this book."--Forbes.comTable of ContentsPreface ix Acknowledgments xvii About the Author xix Chapter 1 Introduction: The Paradox of Market Risk 1 Chapter 2 The Demons of ’87 7 Chapter 3 A New Sheriff in Town 33 Chapter 4 How Salomon Rolled the Dice and Lost 51 Chapter 5 They Bought Salomon, Then They Killed It 77 Chapter 6 Long-Term Capital Management Rides the Leverage Cycle to Hell 97 Chapter 7 Colossus 125 Chapter 8 Complexity, Tight Coupling, and Normal Accidents 143 Chapter 9 The Brave New World of Hedge Funds 165 Chapter 10 Cockroaches and Hedge Funds 207 Chapter 11 Hedge Fund Existential 243 Conclusion: Built to Crash? 255 Notes 261 Index 273

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Book SynopsisYOUR WORLD AS A DIRECTOR HAS SUDDENLY CHANGED. YOU'VE SEEN MEMBERS OF OTHER boards take the heat when their companies imploded. The managements of Lehman Brothers, Bear Stearns, Merrill Lynch, and Washington Mutual clearly failed, but so did their boards. Now the board of every company beset with problems is coming under scrutiny. The pressure is on. Your board must own up to its accountability for the performance of the corporation. Governance now means leadership. Boards must change their modus operandi to address the new and complex issues that are emerging. These include ENSURING LIQUIDITY IN THE CONTEXT OF THE GLOBAL FINANCIAL CRISIS SETTING CEO PERFORMANCE TARGETS IN A VERY UNCERTAIN ECONOMY ASSESSING STRATEGY AND ENTERPRISE RISK UNDER EXTREME VOLATILITY So what should boards do now? What should they be talking about in their meetings and executive sessions? What decisions must they make? How assertive must they be regardiTable of ContentsForeword by Jack Krol vii What Boards Need Now ix 1. Question 1. Is Our Board Composition Right for the Challenge? 1 2. Question 2. Are We Addressing the Risks That Could Send Our Company over the Cliff? 19 3. Question 3. Are We Prepared to Do Our Job Well When a Crisis Erupts? 33 4. Question 4. Are We Well Prepared to Name Our Next CEO? 41 5. Question 5. Does Our Board Really Own the Company’s Strategy? 57 6. Question 6. How Can We Get the Information We Need to Govern Well? 73 7. Question 7. How Can Our Board Get CEO Compensation Right? 85 8. Question 8. Why Do We Need a Lead Director Anyway? 101 9. Question 9. Is Our Governance Committee Best of Breed? 117 10. Question 10. How Do We Get the Most Value out of Our Limited Time? 127 11. Question 11. How Can Executive Sessions Help the Board Own Up? 137 12. Question 12. How Can Our Board Self-Evaluation Improve Our Functioning and Our Output? 149 13. Question 13. How Do We Stop from Micromanaging? 163 14. Question 14. How Prepared Are We to Work with Activist Shareholders and Their Proxies? 173 About the Author 187 Acknowledgments 189 Index 191

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Book SynopsisA revised and updated version of the classic book on what it takes for small brands to eat the big tuna Since Wiley first published Eating the Big Fish in 1999, the concept of the challenger brand has become a mainstream idea among marketers and advertisers.Trade Review"Eating the Big Fish is a lucid, well organized and well executed analysis of successful Challenger strategies...Highly recommended." (TheBookBag.co.uk, April 23rd 2009) ‘…a must read for anyone in marketing.' (Admap, January 2011).Table of ContentsPreface xiii Foreword by Antonio Lucio xxi Part 1 The Size and Nature of the Big Fish 1 1 The Law of Increasing Returns 3 The task facing a Challenger in competing strongly against a Market Leader is more intimidating than we might have imagined. This chapter explores the scale of the advantages their superior size—and the fact of leadership—brings, and points to why we need as Challengers to consider a different kind of strategic approach in order to succeed. 2 The Consumer Isn’t 13 Marketeers step into this new business world equipped with a set of basic assumptions about their business that have by now become dangerously flawed. The fundamental premises underlying everyday marketing vocabulary such as consumer, audience, and category require careful reexamination, and the implications of their weaknesses need to be understood—in particular, the consequent need for ideas, rather than communications, as the new currency of growth. 3 What Is a Challenger Brand? 24 This chapter offers an entirely new kind of brand model for second-rank brands finding themselves threatened by the Brand Leader—the model of the Challenger brand. A Challenger brand is defined through three attributes: a state of market, a state of mind, and a rate of success. This chapter concludes by explaining how the core brands considered in Part 2 came to be chosen, and gives an example of how the book attempts to turn each significant Challenger case history into a relevant exercise that can be valuably applied to the marketeer’s own brand. Part 2 The Eight Credos of Successful Challenger Brands 33 What marketing characteristics do the great Challenger brands and companies of the past 15 years share? If we could identify those characteristics, how could we apply them to our own situation to generate a source of personal business advantage? This section identifies and discusses the common marketing strands these brands have shared and devotes eight chapters to discussing each in turn. 4 The First Credo: Intelligent Naivety 35 The great wave makers in any category are those who are new to it—like Jeff Bezos, who came out of finance to change the way books were sold, or Eric Ryan of method, who left advertising to reinvent the household cleaning business. This chapter looks at the need for marketeers to break free from the clutter of little pieces of knowledge that are the basis of their strategic thinking in order to see the real opportunities for radical growth. It also offers ways for those already deeply experienced in a category to achieve this vital innocence. 5 Monsters and Other Challenges: Gaining Clarity on the Center 61 Once you have explored the potential opportunities available to you as a Challenger, it is time to be clear about what your challenge to the category or another category player is going to be. This chapter explores a structure for thinking about that central challenge and discusses the key options open to us; this clarity is also a key part of laying the foundations for the strategic thinking that follows. 6 The Second Credo: Build a Lighthouse Identity 80 Success as a Challenger comes through developing a very clear sense of who or what you are as a brand/business and why—and then projecting that identity intensely, consistently, and saliently to the point where, like a lighthouse, consumers notice you (and know where you stand) even if they are not looking for you. This chapter looks at the roots, source, and nature of such identities and how successful Challengers have built them. 7 The Third Credo: Take Thought Leadership of the Category 109 Marketeers tend to talk as if there is one Brand Leader in every category. In fact, there are two: the Market Leader (the brand with the biggest share and the biggest distribution) and the Thought Leader—the brand that, while it may not be the largest, is the one that everyone is talking about, that has the highest ‘‘sensed momentum’’ in the consumer’s mind. In this chapter the nature of Thought Leadership is analyzed, and the methods of achieving it are explored. 8 The Fourth Credo: Create Symbols of Re-evaluation 134 Successful Challengers are brands in a hurry: they desire (and need) to puncture the consumer’s autopilot and create reappraisal of themselves and their category swiftly and powerfully. To do so, they create big, impactful acts or marketing ideas that capture the indifferent consumer’s imagination and bring about a rapid re-evaluation of their image in the consumer’s mind, and role in the consumer’s life. This chapter discusses some of the most striking of these symbols, what specifically it was about them that achieved the results they did, and what set them apart them from being just another publicity stunt. 9 The Fifth Credo: Sacrifice 156 Challengers have fewer resources in almost every aspect of the business and marketing mix than do the Big Fish—what they choose not to do, that is, what they choose to Sacrifice, is therefore as important to their success as what they choose to do. The nature of this Sacrifice and some of its key dimensions are the focus of this chapter. 10 The Sixth Credo: Overcommit 171 The converse of Sacrifice is Overcommitment: the idea that, following the process of Sacrifice, if the marketeer or businessperson has chosen to drive success through one or two key activities, then these must be successful—and to achieve that success the marketeer must not just commit but overcommit. This chapter looks at examples of Overcommitment, and how we can reframe our own thinking and approach to key activities to ensure their success. 11 The Seventh Credo: Using Communications and Publicity to Enter Social Culture 189 For a Challenger, who is outgunned and outresourced in almost every other area by the Market Leader, the use of communications to create genuine salience in the world around us remains one of the very few remaining sources of competitive advantage open—but only if systematically embraced as such within the company. In this chapter, what it means to treat communication ideas and publicity as high-leverage assets in this way is discussed, as well as the changes in the communications development process that are required. 12 The Eighth Credo: Become Idea-Centered, Not Consumer-Centered 218 Success is a very dangerous thing—it causes brands and people to stop behaving in the way that made them initially successful. The eighth credo, then, encompasses how a Challenger maintains its momentum once it has become successful, in particular moving the organization from being consumer-dependent to focusing on the generation and implementation of ideas—ideas that constantly refresh and renew the relationship with the consumer. Part 3 Applying the Challenger Program 241 13 Writing the Challenger Program: The Two-Day Off-Site 243 For the marketeer interested in beginning a Challenger Program, this chapter offers an outline of a two-day Challenger workshop, designed not to supplant a more rigorous and longer-term strategic process, but to kick-start it with a core group of colleagues. Using cases discussed in the book, it builds a series of exercises that can be powerfully applied to the marketeer’s own business to reveal the opportunities and potential that will allow it to compete aggressively against the Brand Leader. 14 The Scope of the Lighthouse Keeper 270 This chapter looks at what it means to be the person building and protecting a Lighthouse Identity, particularly in a new media world. After discussing who is the real ‘‘Lighthouse Keeper’’ in a new kind of consumer relationship where your users’ blogs can be as influential as your own media campaigns, it questions much of the misleading sound-bite journalism about the new marketing world, in particular the notion that the consumer is in charge and that new media is electronic and social media. It notes the four key vectors of change in modern brand building that are driven by our Lighthouse Identity— convenience and instant gratification, polysensual product experience, interactive participation, and social and environmental responsibility, and how the new breed of Challengers is leaning into one or more of these to further delineate their unique position in the world. Part 4 Mind-Set, Culture, and Risk 291 15 Challenger as a State of Mind: Staying Number One Means Thinking Like a Number Two 293 Being a Challenger is not a series of actions in and of themselves—it is as much as anything else a state of mind. Therefore, although the book is primarily geared toward the particular needs of Challenger brands, this chapter pauses to consider the possible broader relevance of Challenger thinking and behavior in the marketplace. In particular, it looks at the lessons to be gained from a new generation of Brand Leaders and how they illustrate the way in which the rules of Brand Leadership have fundamentally changed—namely, why staying Number One now means thinking and behaving like a Number Two. 16 Risk, Will, and the Circle of Rope 303 The book concludes by discussing the more intangible characteristics of Challengers—luck, emotion, and the preparedness to embrace risk. References and Sources 315 Acknowledgments for the Second Edition 321 Photo Credits 323 Index 325

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Book SynopsisSuccessful trader Mark Whistler draws from the fields of psychology, spirituality, and philosophy to emphasize how self-honesty, self-esteem, emotional balance, and confidence form the foundation of successful trading. He demonstrates how adherence to a small number of core principles vastly improves chances of success, and shares interviews from top traders to exemplify his point that even the most successful traders have had to overcome setbacks.Table of ContentsAcknowledgments. Introduction. Believing in Ourselves. PART I All of the Answers Are Already Within. CHAPTER 1 Finding Your Purpose-Center. The Groundwork. Clarifying Your Purpose-Center through the Mission Statement. Morita Therapy and Dogma. Purpose-Center as Self-Awareness in Style. The Dogma of Style. Summary. CHAPTER 2 The Time Is Now. In the Moment. Through Ryan Dempster’s Eyes. Summary. CHAPTER 3 Self-Honesty and Self-Esteem. The Foundation of Self. Honesty. Ego Versus Esteem. Esteem. Pride. Summary. CHAPTER 4 The Balance of Humbleness. The Importance of Humbleness. Mike Palumbo—Words of Wisdom from a Supertrader. Balance of Self: An Interview with Kevin Cuddie. Summary. CHAPTER 5 Be Courageous, Be Forgiving. The Vacuum Law of Prosperity. Interview with Dr. Michael A. L. Eckelkamp. The Need for Courage: Vic Frierson. Summary. Addendum. CHAPTER 6 An Investigation of Fear. Fear Defined. Acknowledging the Predator. Good Cop. Bad Cop. Deciphering the Difference between Good and Bad Fear. Event Timing and the Conditioned Reflex. Overcoming Good Fear. Defeating Bad Fear. Fear and Morita Therapy. Fear Is the Only Paradigm of the Market. Personal Unconsciousness. Summary. CHAPTER 7 Overcoming Adversity and Anxiety. Turning the Tide on Death—Bob Williams. The Basics of Anxiety. The Bulkhead of Anxiety. Summary. CHAPTER 8 Cause and Effect. The Foundation of Cause and Effect. Cause and Effect in Trading Decisions. Altering the Cause Variables. Interview with Joe Ritchie. Adding on to Joe’s Words. Experience as the Most Important Cause Variable. Summary. CHAPTER 9 Emotional Intelligence: The Intuition Wild Card. The Roots. Emotional Intelligence with Emotional Identification and Acceptance. Application to Trading. Emotion Versus Intuition. Summary. CHAPTER 10 Developing Intuition. Levels of Intuition. Planning for Intuition. Developing Intuition. Incredible Intuition through the Eyes of a Publisher. Top-Down Processing. Intuition in Trading. Summary. CHAPTER 11 Expressing Gratitude. Gratitude as a Psychological Study. Gratitude and Trading. Summary. PART II Beyond Emotions. CHAPTER 12 Confronting and Defeating Stress. A Little Stress Is Good. Recognizing Stress. Matt McCall on Stress and Investing. Summary. CHAPTER 13 A Medical Evaluation of Stress. The Facts behind Stress, from Dr. Royce Peterman, MD. Summary. CHAPTER 14 The Necessity of Relaxation. Sivananda Principles. Breathing to Deal with Three Stressful Moments. Summary. CHAPTER 15 Affirmation and Visualization. Affirming Ourselves. Visualizing Success. Summary. CHAPTER 16 Avoiding Self-Destructive Behavior. Understanding Why We Blow Up Leads to Recognition. Thwarting Self-Destruction and Cleaning Up the Mess. Summary. PART III Developing Your Game Plan. CHAPTER 17 Creating a Trading Plan. The Plan. Trading Plan Integrity through Philosphy. Summary. CHAPTER 18 Understanding Risk. Managing the Big Picture. In Closing. Summary. CHAPTER 19 Change Is Constant. Change Is the Only Constant We Can Count On. When Life Blows Up, Make a Change. The Law of Flotation Wasn’t Based on the Contemplation of Sinking Things Summary. Last Words. About the Interviewees. Notes. Bibliography. About the Author. Index.

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Book SynopsisThis book focuses on the 11 men, lawyers and bankers, who are responsible for the creation of Wall Street''s merger industry. It specifically concentrates on the events and personalities who dominated Wall Street during the takeover battles of the 1970s and 1980s. Lawyers Joe Flom and Marty Lipton, the godfathers of modern M&A, educated bankers on takeover laws and regulations as well as tactics. Flom and Lipton were also superlative businessmen who built their own firms to become Wall Street powerhouses. The two men drew into their orbit a circle of bankers. Felix Rohatyn, Ira Harris, Steve Friedman, Geoff Boisi, Eric Gleacher and Bruce Wasserstein were close to Lipton. Robert Greenhill and Joe Perella were close to Flom. M&A Titans provides insight into the culture of the different investment banks and how each of the bankers influenced the firms they worked in as they became more powerful. Some such as Gleacher, Harris, Wasserstein, Perella and Greenhill clashed with the Table of ContentsAcknowledgments ix The Titans xi Remarks from Some M&A Titans and Players xiii Introduction 1 Chapter 1 Genesis: Wall Street, Its Business and Culture 5 Chapter 2 Godfathers—Flom and Lipton 13 Chapter 3 Seducers—Harris and Rohatyn 23 Chapter 4 Systematizer—Goldman Sachs 31 Chapter 5 Originators—Morgan Stanley 43 Chapter 6 Attack or Defend 53 Chapter 7 An Accountant, Feuds, and the Wasserstein Discovery 67 Chapter 8 The Cult of Greenhill, California 85 Chapter 9 Stovepipes 93 Chapter 10 Fall and Rise 103 Chapter 11 “The Genius Franchise” 111 Chapter 12 Stagnation and Implosion 119 Chapter 13 The Rise of Drexel 129 Chapter 14 Crime and Punishment 139 Chapter 15 A Voice in the Wilderness 151 Chapter 16 Intrigue and Resignations 159 Chapter 17 New Horizons 171 Notes 183 References 211 About the Author 215 Index 217

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Book SynopsisWhy attractive things work better and other crucial insights into human-centered designEmotions are inseparable from how we humans think, choose, and act. In Emotional Design, cognitive scientist Don Norman shows how the principles of human psychology apply to the invention and design of new technologies and products. In The Design of Everyday Things, Norman made the definitive case for human-centered design, showing that good design demanded that the user''s must take precedence over a designer''s aesthetic if anything, from light switches to airplanes, was going to work as the user needed. In this book, he takes his thinking several steps farther, showing that successful design must incorporate not just what users need, but must address our minds by attending to our visceral reactions, to our behavioral choices, and to the stories we want the things in our lives to tell others about ourselves. Good human-centered design isn''t just about making effective tools that are straightforward to use; it''s about making affective tools that mesh well with our emotions and help us express our identities and support our social lives. From roller coasters to robots, sports cars to smart phones, attractive things work better. Whether designer or consumer, user or inventor, this book is the definitive guide to making Norman''s insights work for you.

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Book SynopsisDiscover the tools for knowing the costs your company should cut, without impacting its ability to deliver goods and services New from Steve Bragg, this book provides the tools for determining which costs a company should cut, without impacting its ability to deliver goods and services. It explains how to use throughput analysis in order to locate bottleneck operations in a company, which in turn dictates where capital investments should (and should not) be made. Delves into process analysis, to determine where excess resources are being used in a business process Describes the total cost of ownership, showing how a single purchasing decision actually snowballs into a variety of ancillary costs Shows how to create and use a spend management system to reduce procurement costs Shows how just-in-time systems can be used to eliminate inventory costs Cost Reduction Analysis: Tools and Strategies provides examples to shoTable of ContentsAbout the Author xi Preface xiii Part I Primary Areas of Cost Reduction 1 Chapter 1 The Cost Reduction Process 3 Introduction 3 Need for Cost Reduction 4 Advantages of Cost Reduction 7 Disadvantages of Cost Reduction 8 Cost Reduction Politics 8 Cost Reduction Priorities 9 Cost Reduction Tools 11 Process Analysis 21 Process Analysis Tools 24 Key Cost Reduction Questions 28 Cost Reduction Reports 29 Metrics 34 Summary 34 Chapter 2 Selling and Marketing Cost Reduction 37 Introduction 37 Customer Mix Analysis 37 Customer Class Analysis 39 Sales Region Analysis 39 Dropped Customer Analysis 42 Price Setting with Throughput Analysis 44 Sales Productivity Analysis 46 Sales Effectiveness Analysis 48 Salesperson Analysis 49 Finding Throughput Problems in Sales 51 Sales Process Flow 53 Sales Deduction Systems 55 Collections by the Sales Staff 56 Marketing Cost Reductions 56 Sales and Marketing Metrics 59 Summary 60 Chapter 3 Product Analysis 61 Introduction 61 Target Costing 61 Targeted Price Increases 72 Eliminate Unprofitable Products 73 Add New Products 81 Outsource Products 83 Product Rework Costs 85 Custom Product Costs 86 Product Metrics 88 Summary 90 Chapter 4 Production Cost Reduction 91 Introduction 91 Throughput Analysis 91 Product Line Complexity 92 Production Flow 92 Cellular Manufacturing 93 Continuous Flow 94 Monument Equipment 94 Quick Changeovers 95 Assembly Line Configuration 96 Assembly Line Length 96 Container Sizes 97 Source Inspection 97 Control Chart Analysis 98 Mistake Proofing 101 Expediting 102 Maintenance Planning 102 Machinery Standardization 103 Machinery Assignment 103 Metrics 103 Summary 104 Chapter 5 Payroll Cost Reduction 107 Introduction 107 Analysis for a Workforce Reduction 107 Cost of a Workforce Reduction 117 Alternatives to a Workforce Reduction 120 Manage Payroll Expenses at the Hiring Stage 123 Combat Institutionalized Pay Increases 125 Restructure Commissions 128 Restructure the Workforce 129 Hire Contractors 131 Other Types of Payroll Cost Reduction 132 Worker Adjustment and Retraining Notification Act 133 Payroll Cost Metrics 133 Summary 134 Chapter 6 Benefits Cost Reduction 137 Introduction 137 Benefits Administration 137 Disability Insurance 139 Life Insurance 140 Medical Insurance 140 Pensions 144 Seasonal Bonuses 147 Sick Time 147 Snacks 148 Training 148 Vacation Time 150 Wellness Programs 151 Workers’ Compensation Insurance 151 Miscellaneous Perquisites 153 Free Benefits 153 Metrics 154 Summary 154 Part II Procurement Cost Reduction 157 Chapter 7 Procurement Cost Reduction 159 Introduction 159 Standard Procurement Process Flow 160 Procurement Cards 161 Evaluated Receipts System 164 Additional Procurement Process Flow Changes 168 Supplier Consolidation 171 Supplier Relations 174 Additional Cost Reduction Considerations 177 Metrics 179 Summary 180 Chapter 8 Spend Analysis 181 Introduction 181 Spend Database 181 Spend Analysis 184 Spend Analysis Reports 190 Spend Analysis Rollout 193 Third-Party Spend Management Systems 194 Low-Cost Spend Management Systems 195 Metrics 196 Summary 197 Chapter 9 Maintenance, Repair, and Operations Analysis 199 Introduction 199 Problems with MRO Cost Reduction 199 MRO Cost Reduction Methodology 200 Distributor’s Viewpoint 208 Metrics 209 Summary 209 Part III Asset Reduction 211 Chapter 10 Inventory Analysis 213 Introduction 213 Inventory Purchasing 213 Inventory Receiving 217 Inventory Storage 217 Bill of Materials 221 Obsolete Inventory 222 Miscellaneous Topics 225 Metrics 227 Summary 228 Chapter 11 Fixed Asset Analysis 229 Introduction 229 Fixed Asset Acquisition Analysis 229 Fixed Asset Installation Reporting 235 Postinstallation Audit 237 Outsourcing Alternative 237 Lease versus Buy Decision 238 Feature Reduction Analysis 239 Asset Commoditization 241 Monument Analysis 241 Facility-Specific Considerations 242 Fixed Asset Retention Analysis 243 Fixed Asset Maintenance Analysis 243 Fixed Asset Location Tracking 244 Fixed Asset Condition Tracking 245 Fixed Asset Metrics 245 Summary 247 Part IV Special Topics 249 Chapter 12 Throughput Analysis 251 Introduction 251 Theory of Constraints 251 Operational Aspects of the Theory of Constraints 252 Nature of the Constraint 254 Definitions for the Financial Aspects of the Theory of Constraints 256 Financial Aspects of the Theory of Constraints 257 Opportunity Cost of Operations 259 Locating the Constraint 260 Management of the Constrained Resource 264 Types of Policy Constraints 268 Constraint Buffer 270 Production Scheduling 273 Batch Sizes 278 Capacity Reduction Analysis 279 Work Center Utilization 280 Metrics 280 Summary 282 Chapter 13 Cost Reduction in Mergers and Acquisitions 283 Introduction 283 Integration Timing 283 Integration Planning 284 Synergy Realization 286 Integration Manager 290 Integration Team 291 Integration Communications—Internal 292 Integration Communications—External 293 Employee Integration—Qualification Assessment 294 Employee Integration—Job Positioning 296 Employee Integration—Relocations 297 Employee Integration—Key Employees 297 Layoffs 300 Compensation Integration 301 Sales Integration 302 Process Integration 303 Technology Integration 304 Metrics 305 Integration Pacing 306 Summary 307 Index 309

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Book SynopsisIDEO founder and Stanford d.school creator David Kelley and his brother Tom Kelley, IDEO partner and the author of the bestselling The Art of Innovation, have written a powerful and compelling book on unleashing the creativity that lies within each and every one of us.Too often, companies and individuals assume that creativity and innovation are the domain of the creative types.  But two of the leading experts in innovation, design, and creativity on the planet show us that each and every  one of us is creative.  In an incredibly entertaining and inspiring narrative that draws on countless stories from their work at IDEO, the Stanford d.school, and with many of the world's top companies, David and Tom Kelley identify the principles and strategies that will allow us to tap into our creative potential in our work lives, and in our personal lives, and allow us to innovate in terms of how we approach and solve problems.  It is a book that will help each of us be more productive and successful in our lives and in our careers.

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Book SynopsisSo you want to be a consultant? If you have expertise people are willing to pay for and the motivation to work hard at this exciting and rewarding profession, Consulting For Dummies, 2nd Edition, supplies the rest.Table of ContentsIntroduction 1 Part I: So You Want to Be a Consultant 7 Chapter 1: Introducing the Wonderful World of Consulting 9 Chapter 2: Determining Whether Consulting Is Right for You 21 Chapter 3: Taking the Plunge into Consulting (Or at Least Getting Your Feet Wet) 35 Part II: Getting Your Consulting Business Off the Ground 49 Chapter 4: Setting Up Your Consulting Firm 51 Chapter 5: Getting a Grip on Legalities, Finances, and Ethics 71 Chapter 6: Setting Your Fees 89 Part III: The Short Course in Consulting 107 Chapter 7: Defining the Problem and Writing a Winning Proposal 109 Chapter 8: Collecting the Client Data You Need 127 Chapter 9: Problem-Solving and Developing Recommendations 137 Chapter 10: Tell It Like It Is: Presenting Your Recommendations 147 Chapter 11: Implementation: Making Your Prescriptions Stick 159 Part IV: Selling Your Consulting Services 167 Chapter 12: The ABCs of Selling 169 Chapter 13: Getting the Word Out: Promoting Your Business 185 Chapter 14: Building Business and Referrals through Current Clients 199 Chapter 15: Building Business with New Clients 211 Part V: Taking Care of Business 229 Chapter 16: Contracting for Business: It’s a Deal! 231 Chapter 17: Keeping Track of Your Time and Money 249 Chapter 18: Communicating Your Way to Success 263 Chapter 19: Troubleshooting Common Consulting Issues 277 Part VI: Taking Your Consulting Business to the Next Level 289 Chapter 20: Building on Your Success 291 Chapter 21: Advanced Pricing Strategies 301 Chapter 22: Enhancing Your Image and Reputation 311 Part VII: The Part of Tens 321 Chapter 23: Ten Ways to Improve Your Cash Flow 323 Chapter 24: Ten Effective Marketing Strategies for New Business 329 Chapter 25: Ten Ways to Build Business with a Client 335 Index 341

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Book SynopsisIn this groundbreaking book, Bill Price and David Jaffe offer a new, game-changing approach, showing how managers are taking the wrong path and are using the wrong metrics to measure customer service. Customer service, they assert, is only needed when a company does something wrongeliminating the need for service is the best way to satisfy customers. To be successful, companies need to treat service as a data point of dysfunction and figure what they need to do to eliminate the demand. The Best Service Is No Service outlines these seven principles to deliver the best service that ultimately leads to no service: Eliminate dumb contacts Create engaging self-service Be proactive Make it easy to contact your company Own the actions across the company Listen and act Deliver great service experiences Trade Review"admirably straightforward book… refreshingly no-nonsense". (Financial Times , Thursday 27th March 2008)Table of ContentsIntroduction: Why We Wrote This Book xi 1 Challenge Customer Demand for Service: Instead of Coping with Demand 1 2 Eliminate Dumb Contacts: Instead of Handling Them Again and Again 29 3 Create Engaging Self-Service: Instead of Preventing Contact 65 4 Be Proactive: Instead of Waiting to Respond 99 5 Make It Really Easy to Contact Your Company: Instead of Dodging the Bullet 125 6 Own the Actions Across the Organization: Instead of Blaming Customer Service 165 7 Listen and Act: Instead of Letting Customer Insights Slip Away 203 8 Deliver Great Service Experiences: How to Delight Customers with Awesome Support When They Need It 241 Appendix A: Best Service Survey 277 Appendix B: Glossary 287 Appendix C: Bibliography 293 Notes 299 Acknowledgments 301 About the Authors 305 Index 307

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Book SynopsisThe oldest form of commercial organisations, family and entrepreneurial enterprises, are a prime source of wealth creation and employment across the world. In a family enterprise, issues like hiring, dividend payment, or succession, despite being difficult, are just business tasks, requiring planning and decision-making.Trade Review“…explores the reasons why some family businesses are dysfunctional – and how to cure them.” (The Guardian, Saturday 15th September 2007) "fascinating new book" (The Independent, Tuesday 9th October 2007) "a unique insight into the subject." (Guardian Unlimited guardian.co.uk, Thursday 13th December) "You'll find this book well worth reading" (Edge, February 2008) "...an insight into addressing key family buisness issues." (Gulf Buisness, February 2008)Table of ContentsPreface xiii Acknowledgments xxv Part I: Questions and Observations 1 Introduction 3 Endnote 7 1 A Psychological Perspective on Business Families 9 Psychodynamic and family systemic perspectives 10 Key ideas from the psychodynamic approach 11 The role of transference and countertransference 12 The family systemic perspective 17 A therapeutic alliance 20 A summing-up 21 Endnotes 22 2 The Challenges of Love and Work 25 Conflicting goals in the family business 26 The three-circles model 29 How conflict can develop 32 Endnotes 38 3 Family Business Practices: Assessing Strengths and Weaknesses 39 The interface of business and family practices 42 Assessing the health of a family business 60 Endnotes 62 Part II: Reflection and Learning 63 4 the Life Cycle as An Organizing Construct 65 The multiple life cycles of the family business 66 Key models of human psychological development 68 The family life cycle 75 Carter and McGoldrick’s family-based life cycle model 76 Applying the life cycle in family businesses 78 Endnotes 81 5 Narcissism, Envy, and Myths In Family Firms 83 Personality types 83 Managerial implications of dysfunctional narcissism 90 The importance of individuation 91 The family firm as transitional object 92 The power of envy 95 Games families play: the role of family myths 103 The impact of family myths on the family business 105 Summary 109 Endnotes 109 6 the Entrepreneur: Alone at the Top 111 Common personality characteristics of founder–entrepreneurs 111 Larry Ellison and Oracle 113 Deciphering the inner theater of the entrepreneur 117 Common defensive structures in founder–entrepreneurs 128 Maintaining the balance 130 Endnotes 131 7 Leadership Transition: Replacing a Parent as Ceo 133 Options for tackling the succession problem 133 The inheritance 135 Psychological pressures on new leaders 136 Staying on course 144 Endnotes 146 8 A Systemic View of the Business Family 147 A two-way relationship 147 The evolution of systems theory 148 The development of family systems theory 149 The family systems proposition 154 Family scripts and rules 156 Family scripts in the family business 157 A practical example of family systems thinking 162 Endnotes 163 9 Diagnosing Family Entanglements 165 The family genogram 166 The Circumplex Model of marriage and family systems 172 Differentiation of self from family of origin 176 Two family stories 178 Endnotes 185 Part III: Integration and Action 187 10 Addressing Transitions and Change 189 Lewin’s ideas on change 189 A model of individual change 191 Major themes in the individual journey toward change 196 The process of change within organizations 200 The change process in families 205 Family focus or organization focus? 212 Endnotes 213 11 The Vicissitudes of Family Business 215 The Steinbergs: A study in self-destruction 215 The immigrant dream 216 His mother’s son 218 The entrepreneur’s vision 220 Sam as a family business leader 220 The entrepreneur’s dilemma: Passing the baton 223 The next generation 224 Irving Ludmer: Play it again, Sam 225 A family systems perspective on the Steinbergs 228 The effects of Sam Steinberg’s inner world on the family business 233 The inner theater of Sam’s daughters 236 What if? 239 Endnotes 240 12 Putting Family Business Intervention Into Practice 241 The Family Action Research Process 242 The succession conundrum 243 The role of the outside adviser 271 Advice to families seeking help 271 The benefits of a psychodynamic systems perspective 274 Final words 275 Endnotes 276 Appendix 1: Developing a Business Family Genogram 277 Creating the genogram 277 Therapeutic applications of the genogram 278 Using the genogram to identify family scripts and themes 279 How genograms improve communication 282 Endnote 282 Appendix 2: the Clinical Rating Scales And the Circumplex Model 283 How the CRS work 284 Endnote 287 Index 289

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Book SynopsisSmall-cap stocks, those publicly traded companies with market capitalizations less than $2 billion, can yield significant gains that are impossible to find in larger stocks. They''ve also proven to be among the most attractive investments after a financial downturn. Unfortunately, information about how to successfully invest in these smaller companies has been hard to find?until now. Author Ian Wyatt is dedicated to helping investors find great companies at bargain prices before Wall Street or Main Street catches on. As the Chief Investment Strategist of SmallCapInvestor.com, he''s guided countless individuals in their quest to capture small-cap investing success. Now, with The Small-Cap Investor, Wyatt will help you do the same. Throughout the book, Wyatt clearly outlines his proven investment process and the systems that are involved?detailing eight straightforward steps you need to take to find, research, and analyze small-cap stocks that could put big Table of ContentsAcknowledgments xi INTRODUCTION The Story of a Small-Cap Investor 1 CHAPTER 1 Start Small, Finish Big—Discover Big Profits in Small-Cap Stocks 9 Small-Cap Investor: Eight-Step Process for Big Profits from Small Stocks 10 Small Caps as Generators of Growth 11 An Example of Small-Cap Success 15 Small-Cap Value Stocks Outperform Large-Cap Growth Stocks 19 Profitable Small Caps Don’t Always Make Gains on Day One 19 The Inefficient Market Theory: The Small-Cap Advantage 24 The Market as an Emotional Being 25 CHAPTER 2 Big Ideas for Big Profits 29 Spotting the Next Big Idea 30 Expanding Your Search 36 The Competitive Edge 37 Spotting Institutional Activity 38 CHAPTER 3 Finding Great Small-Cap Stocks 43 Growth + Value = Profits 43 Success Stories from the Past 50 IPOs Are the Genesis of Small Caps 53 Spotting Growth Sector Trends 55 News You Can Use 59 You’ve Found an Interesting Trend or Company—Now What? 60 CHAPTER 4 Understanding and Evaluating Financial Statements 65 Generally Accepted Accounting Principles and the Basics of Accrual Accounting 67 Financial Statements Made Simple 69 Ten Key Metrics to Review in Every Financial Statement 72 What Exactly Are Earnings? 76 A Quality Test: Cash Flow Instead of Earnings 83 Ten Accounting Red Flags 86 CHAPTER 5 Financial Projections and Valuations 91 Understanding Financial Guidance 92 A Reality Check 93 Guidance Caveats 96 Interpreting Analyst Estimates 97 Companies Play the Earnings Game 98 Financial Trends for Spotting Promising Small Caps 99 CHAPTER 6 Taking the Mystery Out of Technical Analysis and Trading for Quick Profits 103 Some Technical Basics 105 Accumulation and Distribution 118 The Relative Price of a Stock 120 CHAPTER 7 Trading Strategies for Successfully Buying and Selling Small-Cap Stocks 123 Liquidity Considerations with Small-Cap Investing 124 Risk Tolerance 127 Risk Awareness, an Essential Attribute 130 Timing Decisions 133 Trading Techniques 136 CHAPTER 8 Portfolio Diversification and Allocation 139 Equity Diversification Methods 140 Diversification Mistakes 141 Overdiversification 142 Using Mutual Funds and ETFs to Diversify 143 Risk Tolerance as a Means for Diversifying Your Portfolio 147 Asset Allocation Basics 148 CHAPTER 9 Buy Small Caps to Grow Your Portfolio 151 A Track Record of Small-Cap Success 152 The Key Drivers to Growth 153 Early Bird Gets the Worm 154 Appendix 159 Notes 163 About the Author 165 Index 167

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Book SynopsisHow top traders made huge profits during the most momentous market events of the past century Financial and commodity markets are characterized by periodic crashes and upside explosions. In retrospect, the reasons behind these abrupt movements often seem very clear, but generally few people understand what''s happening at the time. Top traders and investors like George Soros or Jesse Livermore have stood apart from the crowd and capitalized on their unique insights to capture huge profits. Engaging and informative, The Greatest Trades of All Time chronicles how a select few traders anticipated market eruptions?from the 1929 stock market crash to the 2008 subprime mortgage meltdown?and positioned themselves to excel while a majority of others failed. Along the way, author Vincent Veneziani describes the economic and financial forces that led to each market cataclysm and how theseindividuals perceived what was happening beforehand and why they decided to place big bets, Table of ContentsAcknowledgments xiii About the Author xv Introduction xvii Chapter 1 J. Kyle Bass: Timing is Everything 1 The Back Story 1 A Few Definitions 2 Bass Asks Why 4 Learning from the Past 6 Shorting Subprime Loans 7 The Best Position 8 The Effects of Abuse 11 Who Was Watching? 13 Re-creating Bass’s Trading Strategies 17 Bass’s Top Traits 17 Chapter 2 James Chanos: The Real King of Enron 21 Enter Enron 21 Really Looking at Enron 23 The Best Position 26 Recreating Chanos’s Trading Strategies 28 A More Recent Example 28 Chanos’s Top Traits 30 Chapter 3 Paul Tudor Jones II: Legendary Global Macro Trader 31 Following a Genius 31 The Path of Greatness 32 Starting Out 33 Knowing All the Markets 35 Global Macro Trading 36 Elliot Wave Theory 38 More Keys to Jones’s Success 40 Success beyond Trading 43 Recreating Jones’s Trading Strategies 43 Jones’s Top Traits 44 Chapter 4 John Templeton: Legendary Mutual Fund Manager 47 What Made Templeton Famous 47 Templeton’s Life before Investing 49 Educational Aspirations 50 The Married Life 52 Templeton’s Big Move 53 Back to New York 54 Looking to the Future, and the Templeton Growth Fund 55 Templeton’s Second Marriage and Fund 56 The Bahamas 57 Recreating Templeton’s Trading Strategies 58 Templeton’s Top Traits 59 Chapter 5 Jesse Livermore: Legendary Speculator 61 Livermore’s History 61 At Home in New York 63 Fame and Fortune 63 The Panic of 1907 64 The Crash of 1929 65 Livermore’s Tragic End 66 An Example of Livermore’s Influence Today 68 Recreating Livermore’s Trading Strategies 69 Livermore’s Top Traits 69 Chapter 6 John Paulson: The Greatest Trade of All Time 73 Paulson’s Early Career 73 Paulson & Co. 74 The Greatest Trade 74 Recreating Paulson’s Trading Strategies 79 Paulson’s Top Traits 81 Chapter 7 George Soros: From Humble Beginnings to World Trader 83 Soros’s Famous Trades 84 The Hardships of a Trading Genius 87 Going to School in London 88 Work in New York 90 Joining the Big Leagues 91 Finding Himself 93 Crashing from Success 95 A New Protégé 97 Onto the World Stage 98 The Backlash 100 A Conflicted Mind 101 A New Era 101 Recreating Soros’s Trading Strategies 102 Soros’s Top Traits 103 Chapter 8 David Einhorn: A Company’s Worst Nightmare 105 Allied is Not an Ally 105 Lucky Lehman 108 The Great Beyond 110 Recreating Einhorn’s Trading Strategies 111 Einhorn’s Top Traits 112 Chapter 9 Martin Schwartz: From Amateur to Superstar 115 Start Small, Go Big 115 Trading Like a Rock Star 117 Winding Down 118 Recreating Schwartz’s Trading Strategies 120 Schwartz’s Top Traits 121 Chapter 10 John Arnold: Master of Energy 123 Success at Enron 123 Centaurus Energy 124 The Explosion 126 Recreating Arnold’s Trading Strategies 127 Crude Oil 127 Natural Gas 128 Arnold’s Top Traits 130 Chapter 11 More Great Trades: Phillip Falcone, David Tepper, Andrew Hall, Greg Lippmann 131 Phillip Falcone 131 Recreating Falcone’s Trading Strategies 134 David Tepper 135 Recreating Tepper’s Trading Strategies 136 Andrew Hall 138 Recreating Hall’s Trading Strategies 139 Greg Lippmann 141 Recreating Lippmann’s Trading Strategies 143 In Summary 144 Notes 147 Glossary 149 References 151 Helpful Web Sites 157 Index 161

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Book SynopsisIn the not too distant past, GAAP earnings per share was the financial metric of choice of equity investors. Because of increasing problems with accrual accounting, free cash flow has replaced GAAP earnings as the primary financial metric for many professional investors. Free cash flow is defined as operating cash flow minus capital expenditures.Table of ContentsForeword xv Preface xix CHAPTER 1 Investing 101 1 Price 1 Free Cash Flow 2 Risk and Return 3 The Return Multiple 4 Return and Price 4 Debt 6 Equity 9 Debt versus Equity 11 Private Company versus Public Company 12 CHAPTER 2 The Accounting Fog Machine 15 GAAP: Competing Theories, Matters of Opinion,Political Compromises 16 GAAP: Accrual Abuse 17 GAAP: Errors Bred by Complexity 17 GAAP’S Gap 18 GAAP EPS: An Incomplete Definition of Financial Performance 18 GAAP EPS: Investing in an Economic Vacuum 18 EBITDA is Not a Cash Flow Metric 19 The GAAP Cash Flow Statement 19 Beware the Balance Sheet 20 Liquidity 21 Fixed Assets and Depreciation 21 Leverage and Debt Service 22 Whose Return on Equity? 22 The Notes 23 When Do Accruals Meet Cash Flows? 23 What is to be Done? 24 CHAPTER 3 Free Cash Flow 25 Reconciliation of Net Income and Free Cash Flow 25 Free Cash Flow versus Net Income 27 A Universal Definition? 28 Academic Research and the Discounted Cash Flow Model 29 Barron’s Rankings 30 Buy-Side Users 31 Private Equity Firms 31 Warren Who? 31 A Vast Media Conspiracy? 32 FASB Staff Findings 32 FAS 95: A Cruel Rule 33 EPS Misses: The Real Deal 33 An Alternative to the Government Number 34 CHAPTER 4 The Free Cash Flow Statement 35 Building the Free Cash Flow Statement 35 Four Key Questions 40 Revenues 41 Operating Cash Flow 43 Δ Working Capital 44 Capex 45 Capex: Magnitude and Risk 46 Capex and Capital 47 Capex Transfer 48 Capex Visibility 48 Capex and Investor Return 49 Free Cash Flow 49 Free Cash Flow Yield 50 CHAPTER 5 Free Cash Flow Deployment 53 Acquisitions 54 Buybacks 56 Dividends 59 Debt 60 Projecting Investor Return 61 CHAPTER 6 The Free Cash Flow Worksheet 65 Worksheet Features 66 Entering Historical Data 68 Adjustments to GAAP Cash Flow 68 Operating Cash Flow 71 Capex 71 From the Balance Sheet 72 The Free Cash Flow Statement 73 GAAP Data 74 Percentages 75 Per Share Data 76 Incremental Data and Company’s Reinvestment Return 77 Cash Sources and Deployments 78 Acquisitions 80 Buybacks 80 Dividends 81 Debt 82 Operations 82 Projecting Free Cash Flow 83 Projecting Cash Sources 86 Projecting Acquisitions 87 Projecting Δ in Share Value Due to Δ in the Number of Shares 88 Projecting Investor Return from Dividends 90 Projecting Δ in Share Value Due To Δ in Debt 91 Projecting Δ in Share Value from Operations 94 GAAP Data, Percentages, and Per Share Data 94 Incremental Data and Company’s Reinvestment Return 95 Investor Return Projection 96 Return Multiple 98 Adding Periods to the Worksheet 100 Using the Worksheet 100 CHAPTER 7 Six Companies 101 Revenues 102 Percentage Change in Revenues 102 Operating Cash Flow Margin 103 Capex as a Percentage of Revenues 105 Free Cash Flow Margin 106 Free Cash Flow Per Share 107 The Government Number 109 Net Nonworking Capital Items 109 McDonald’s 111 Panera Bread 113 Applebee’s 114 P. F. Chang’s Bistro 115 Cheesecake Factory 116 IHOP 118 Three Musketeers without New Unit Capex 121 Whose Return on Equity? 121 Sell-Side Analysts 124 Total Returns 125 Take Your Pick 125 CHAPTER 8 The CEO and Investor Return 129 The CEO’s Letter to Shareholders 129 The Quarterly Earnings Conference Call 135 The CEO’s Incentive Compensation 137 CHAPTER 9 Finding Great Stocks 145 The Nine Steps 145 Diversification for Individual Investors 150 Equity Mutual Funds 151 Free Cash Flow and Bonds 152 Free Cash Flow and the Financial Crisis of 2008 152 APPENDIX A Equations 153 APPENDIX B McDonald’s Income Statement 159 APPENDIX C McDonald’s Balance Sheet 162 APPENDIX D McDonald’s ROIIC and Weighting 164 APPENDIX E McDonald’s ROIIC Calculations 165 APPENDIX F Recommended Reading 168 Notes 171 Acknowledgments 174 About the Author 175 About the Website 176 Index 177

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Book SynopsisThe way that Big Money got to be Big Money was by also being the ''Smart Money'', and so it is worth paying attention to how the Big Money traders behave. That''s the essence of what Larry Williams has to teach us in this book. And it''s not just what the Smart Money says or thinks, but how they behave in terms of their trading that we should pay attention to. Larry shows us how to listen to that message. Tom McClellan, Editor of The McClellan Market Report Finally, an insider''s take on what really goes on behind the scenes in commodity trading. Larry writes his view of trading, as only he knows it, from his twenty-five years of experience. James Altucher, author of Trade Like a Hedge Fund Successful trader Larry Williams reveals industry secrets that help investors and traders successfully invest and trade side-by-side with the largest commercial interests in the world. You''ll be introduced to the COT (Commitment of Traders) report,Trade Review“This is an excellent and much needed book” (The Technical Analyst, Sept/Oct 2005) "If you trade futures, this book will be a valuable addition to your trading library. Not only is the book a valuable education, but also an enjoyable read." - Futures magazine, November 2005Table of ContentsIntroduction. Chapter 1. Meet Your New Investment Partner and Adviser. Chapter 2. Watching the Commercials. Chapter 3. Understanding the Commercials: A Record of Their Buying and Selling. Chapter 4. The COT Index. Chapter 5. For Every Insider There Is an Outsider. Chapter 6. Large Traders . . . Not Quite As Good As You Think. Chapter 7. The Facts on Volume. Chapter 8. The Breakthrough: Getting Inside Volume and Open Interest. Chapter 9. Opening Up on Open Interest. Chapter 10. A Unified Theory of COT Data. Chapter 11. A New Twist on the Commercials: Using Them for Stocks. Chapter 12. Pointers and Thoughts on Trading. Chapter 13. The One-Minute Commodity Trader. Chapter 14. Charts: What They Are, What They Mean. Chapter 15. Putting Theory to Work: Practicing What I Preach. Index.

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Book SynopsisIn The Little Book of Bull Moves, popular author and economic advisor, Peter Schiff, takes a new look at America''s bull markets of the 1920''s, 1960''s, and 1990''s, and the bear markets that followed. Analyzing similarities and differences from both an economic and political perspective, Schiff discusses investment strategies that worked then and explains how those same conservative approaches to investing can be applied in today''s market. Provides detailed advice on the techniques and strategies that can help investors maintain and even build wealth now and in the turbulent times that lie just ahead Filled with insightful commentary, inventive metaphors, and prescriptive advice Other titles by Schiff: Crash Proof: How to Profit From the Coming Economic Collapse, and The Little Book of Bull Moves in Bear Markets Written by a seasoned Wall Street prognosticator, The Little Book of Bull Moves shows readers how to maTrade ReviewTips on how to keep your portfolio performing even when the market isn t. ( TNT Magazine, August 2010). Schiff makes a lot of interesting and valuable points. (The Market, May 2011).Table of ContentsForeword by Marc Faber xv Prologue to the 2010 Edition xix Author’s Note xxix Introduction xxxix Chapter One Let’s Do the Time Warp Again 1 Chapter Two Saving Your Assets 23 Chapter Three Beware of False Prophets 43 Chapter Four Of Babies and Bathwater 69 Chapter Five Hot Stuff 89 Chapter Six The Ring in the Bull’s Nose 111 Chapter Seven Weathering the Storm 137 Chapter Eight Favorite Nations 159 Chapter Nine If You Want to Roll the Dice 183 Chapter Ten To Infinity and Beyond 195 Chapter Eleven A Decade of Frugality 215 Chapter Twelve Pack Your Bags 237 Chapter Thirteen The Light at the End of the Tunnel 259

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Book SynopsisFair pricing is an issue that affects us all, whether we're consumers or merchants. Throughout her career, Sarah Maxwell has seen how pricing practices across a variety of different areas, from mobile phones and airline tickets to prescription drugs and gasoline impact our everyday lives.Trade Review"...will change your views about how pricing decisions are made and whether a price is really fair." Supply Management Thursday 22 May 2008 "...will change your views about how pricing decisions are made and whether a price is really fair." Supply Management Thursday 22 May 2008Table of ContentsForeword ix Acknowledgments xiii About the Author xv Part I: Background Chapter 1: Introduction: "Play fair or I quit!" 3 Chapter 2: History: "A ‘just' price is not God-given!" 13 Part II: Model Chapter 3: Model: "Now I'm not just annoyed, I'm furious!" 23 Chapter 4: Norms: "That's wrong, and we all know it!" 31 Chapter 5: Emotions: "You're not being fair and I hate you!" 41 Chapter 6: Expectations: "That price is a rip-off!" 47 Chapter 7: Outcomes: "You should get what you pay for!" 55 Chapter 8: Attributions: "The seller is to blame!" 65 Chapter 9: Process: "Ya gotta play by the rules!" 73 Chapter 10: Punishment: "Revenge is sweet!" 85 Chapter 11: Power: "Beware a customer wronged!" 93 Chapter 12: Trust: "Fair price? I doubt it!" 101 Part III: Applications Chapter 13: Modifications: "Sorry! The rules have changed!" 111 Chapter 14: Tipping: "Just don't stiff the waiter!" 119 Chapter 15: Discrimination: "It's unfair to charge me more than others!" 125 Chapter 16: Negotiations: "Split the difference. That's fair!" 133 Chapter 17: Taxes: "Paying taxes is as American as disliking taxes" 145 Chapter 18: Culture: "But I never ordered any bread!" 155 Chapter 19: Practices: "So how is a company supposed to price fairly?" 165 Notes 179 Glossary 205 References 213 Index 233

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Book SynopsisSays Bill Ackman of Pershing Square Capital Management about The Art of Value Investing: "I learned the investment business largely from the work and thinking of other investors. The Art of Value Investing is a thoughtfully organized compilation of some of the best investment insights I have ever read.Trade Review“John Heins and Whitney Tilson, co-founders of the Value Investor Insight newsletter, have done a thorough job of explaining how to look for stocks that are trading at significant discounts to what they are worth — the concept known as the value style of investing.…the authors present a clear framework for ferreting out undervalued companies.” —The New York Times “[The Art of Value Investing] is packed with invaluable insights and is relevant to both the novice and the experienced investor. …This book provides a valuable contribution to the industry literature on value investing. It is well written, well organized, and quite enjoyable. The Art of Value Investing should be read by all investors who are seriously interested in enhancing their understanding of this important field.” —CFA Institute Book ReviewTable of ContentsIntroduction 1 Chapter 1 “All Sensible Investing Is Value Investing” 5 What It Means to Be a Value Investor 6 Does Quality Matter? 13 The Value of Growth 19 The Value Mindset 25 Part One Field of Play 33 Chapter 2 Circle of Competence 35 The Right Size 36 Industry Preference 45 Where in the World? 57 Chapter 3 Deficient Market Hypothesis 65 The Human Element 66 It’s a Matter of Time 74 Chapter 4 Fertile Ground 81 In Search of Uncertainty 82 Special Situations 86 Operating Turnarounds 93 Chapter 5 Generating Ideas 99 Behind the Screen 99 Follow the Lead 106 Reliable Sources 111 Part Two Building the Case 115 Chapter 6 Cutting Through the Noise 117 Second-Level Thinking 118 Macro versus Micro 120 Business First 127 What Quality Means 131 Crunching the Numbers 135 What Could Go Wrong? 139 From the Top 147 How Important Is Management? 147 Handicapping the Jockeys 149 Red Flags 157 Catalysts 164 Getting It Done 169 Organizing Principles 174 Chapter 7 Getting to Yes 183 Cash (Flow) Is King 184 Multiple Angles 190 The Informed Buyer 192 Model Behavior 194 Playing the Odds 199 Theories of Relativity 202 Pulling the Trigger 206 Part Three Active Management 213 Chapter 8 The Portfolio 215 Concentration versus Diversification 215 The Size That Fits 222 Cognizance of Correlation 227 Chapter 9 Playing the Hand 233 Trading Mentality 233 Dealing with Adversity 239 Taking a Stand 248 Attracting Activists’ Attention 251 Chapter 10 Guarding Against Risk 257 Margin of Safety 258 Building a Position 261 Cash Management 263 Midas Touch 267 Hedging Bets 268 To Short or Not to Short? 268 Value Destroyers 271 Portfolio Hedging 276 Is Shorting Inherently Evil? 277 Chapter 11 Making the Sale 281 Why to Sell 282 Selling by the Numbers 286 Getting the Timing Right 290 Sale Process 293 Part four Of Sound Mind 297 Chapter 12 Of Sound Mind 299 Competitive Spirit 300 Independent Thought 303 Perpetual Student 306 To Err Is Human 309 Be Ever So Humble 312 The Final Word 315 About the Authors 317 Index 319

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Book SynopsisTechnical analysis is the art and science of deciphering chart patterns in order to better analyze and predict prices of a given security. Jack Schwager demystifies technical analysis for investors, introducing them to oscillators, price-and-time charts, on-line charting applications, and much more.Table of ContentsBASIC ANALYSIS TOOLS. Charts: Forecasting Tool or Folklore? Types of Charts. Trends. Trading Ranges and Support and Resistance. Chart Patterns. Oscillators. Is Chart Analysis Still Valid? TRADING ISSUES. Midtrend Entry and Pyramiding. Choosing Stop-Loss Points. Setting Objectives and Other Position Exit Criteria. The Most Important Rule in Chart Analysis. Real-World Chart Analysis. TRADING SYSTEMS. Charting and Analysis Software. Technical Trading Systems: Structure and Design. Testing and Optimizing Trading Systems. PRACTICAL TRADING GUIDELINES. The Planned Trading Approach. Eighty-Two Trading Rules and Market Observations. Market Wiz(ar)dom. Appendix. Glossary. Index.

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Book SynopsisTrying to trade stock, bond, commodity and currency markets without intermarket awareness is like trying to drive a car without looking out the side and rear windows--very dangerous. In this guide to intermarket analysis, the author uses years of experience in technical analysis plus extensive charts to clearly demonstrate the interrelationshps that exist among the various market sectors and their importance. You''ll learn how to use activity in surrounding markets in the same way that most people employ traditional technical indicators for directional clues. Shows the analyst how to focus outward, rather than inward, to provide a more rational understanding of technical forces at work in the marketplace.Table of ContentsA New Dimension in Technical Analysis. The 1987 Crash Revisited--An Intermarket Perspective. Commodity Prices and Bonds. Bonds Versus Stocks. Commodities and the U.S. Dollar. The Dollar Versus Interest Rates and Stocks. Commodity Indexes. International Markets. Stock Market Groups. The Dow Utilities as a Leading Indicator of Stocks. Relative-Strength Analysis of Commodities. Commodities and Asset Allocation. Intermarket Analysis and the Business Cycle. The Myth of Program Trading. A New Direction. Appendix. Glossary. Index.

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Book SynopsisUnderstand the principles and practical elements of BI Choose the right technology and implement a successful BI environment You're intelligent, right? So you've already figured out that Business Intelligence can be pretty valuable in making the right decisions about your business.Table of ContentsIntroduction. Part I: Introduction and Basics. Chapter 1: Understanding Business Intelligence. Chapter 2: Fitting BI with Other Technology Disciplines. Chapter 3: Meeting the BI Challenge. Part II: Business Intelligence User Models. Chapter 4: Basic Reporting and Querying. Chapter 5: OLAP: Online Analytical Processing. Chapter 6: Dashboards and Briefing Books. Chapter 7: Advanced / Emerging BI Technologies. Part III: The BI Lifecycle. Chapter 8: The BI Big Picture. Chapter 9: Human Factors in BI Implementations. Chapter 10: Taking a Closer Look at BI Strategy. Chapter 11: Building a Solid BI Architecture and Roadmap. Part IV: Implementing BI. Chapter 12: Building the BI Project Plan. Chapter 13: Collecting User Requirements. Chapter 14: BI Design and Development. Chapter 15: The Day After: Maintenance and Enhancement. Part V: BI and Technology. Chapter 16: BI Target Databases: Data Warehouses, Marts, and Stores. Chapter 17: BI Products and Vendors. Part VI: The Part of Tens. Chapter 18: Ten Keys to BI Success. Chapter 19: Ten BI Risks (and How to Overcome Them). Chapter 20: Ten Keys to Gathering Good BI Requirements. Chapter 21: Ten Secrets to a Successful BI Deployment. Chapter 22: Ten Secrets to a Healthy BI Environment. Chapter 23: Ten Signs That Your BI Environment Is at Risk. Index.

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Book SynopsisThis international bestseller, with more than 3 million copies sold, offers a field-tested approach to high-stakes negotiations—whether in the boardroom, in your community, or at home.Life is a series of negotiations, and negotiation is at the heart of collaboration—whether you are a business executive, a salesperson, a parent , a community leader, or a spouse. As a former FBI hostage negotiator, Chris Voss gives you the tools to be effective in any situation: negotiating a business deal, buying (or selling) a car, negotiating a salary, acquiring a home, renegotiating rent, deliberating with your partner, or communicating with your children. Taking the power of persuasion, empathy, active listening, and intuition to the next level, Never Split the Difference gives you the competitive edge in any difficult conversation or challenging situation. This book is a masterclass in influencing others, no matter the circumstances.After a stint policing the rough streets of Kansas City, Chris Voss joined the FBI, where his career as a hostage negotiator brought him face-to-face with a range of criminals, including bank robbers and terrorists. Reaching the pinnacle of his profession, he became the FBI’s lead international kidnapping negotiator. Never Split the Difference distills the Voss method, revealing the skills that matter most when it comes to achieving your goals in both your professional and personal life.Step-by-step, Voss show you how to: Establish Rapport  Create Trust with Tactical Empathy Gain the Permission to Persuade  Shape What Is Fair  Calibrate Questions Transform Conflict into Collaboration Spot Liars Create Breakthroughs by Revealing the Unknown Unknowns Never Split the Difference is your definitive source for defusing potential crises, winning people over, and achieving your goals at work and at home.

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Book Synopsis"Artful scenario spinning is a form of convergent thinking about divergent futures. It ensures that you are not always right about the future but--better--that you are almost never wrong about the future. The technology is powerful, simple, and enjoyable, and so is Schwartza s book.Table of ContentsIntroduction to the Paperback Edition: The Strategic Conversation - Broadening The Long View The Pathfinders Tale The Smith & Hawken Story: The Process of Scenario-Building Uncovering the Decision Information-Hunting and Gathering Creating Scenario Building Blocks Anatomy of a New Driving Force: The Global Teenager Composing a Plot The World in 2005: Three Scenarios Rehearsing The Future Epilogue: To My Newborn Son Afterword: The Value of a Strategic Conversation Appendix: Steps to Developing Scenarios

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Book SynopsisIn this fully updated edition of Portfolio Management for New Products, the authors present a rigorous and practical approach to managing a company''s product portfolio as you would a financial portfolio-investing for maximum long-term growth. With its field-tested, step-by-step framework, the book provides corporations and managers with the strategies they need to assess and realign their current R&D operations determine which products are most worthy of resource allocation design and implement a portfolio management process maximize the value of their portfolios and recognize and solve challenges as they arise. This book will be an essential resource for any company whose profitability, and very existence, relies on the products it chooses to develop and the speed with which it brings them to the market.

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Book SynopsisMoore's classic Creating Public Value offered advice to managers about how to create public value, but left unresolved the question how one could recognize when public value had been created. Here, he closes the gap by helping public managers name, observe, and count the value they produce and sustain or increase public value into the future.Trade ReviewThe idea that public managers should operate more like business managers gained momentum in the 1980s, and it continues today. Many reformers and politicians insist that managers should identify the 'customers' for public services and measure agency performance. Moore's new book examines the difficulties in applying this approach to public services, particularly with respect to performance measurement. He argues that private sector methods do not measure the 'public value' created by a wide range of state and local agencies...His case studies demonstrate that it is possible for public managers to incorporate helpful elements of private sector performance measurement, but that it is essential to recognize the special nature of the public value created by public service agencies. -- M. E. Ethridge * Choice *

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