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Rich Dad, Poor Dad - By Robert T. Kiyosaki with Sharon L. Lechter C.P.A.
"What the rich tell their kids about money - that the poor and middle class do not!"
Personal-finance author and lecturer Robert Kiyosaki developed his unique economic perspective through exposure to a pair of disparate influences: his own highly educated but fiscally unstable father, and the multimillionaire eighth-grade dropout father of his closest friend. The lifelong monetary problems experienced by his "poor dad" (whose weekly paychecks, while respectable, were never quite sufficient to meet family needs) pounded home the counterpoint communicated by his "rich dad" (that "the poor and the middle class work for money," but "the rich have money work for them"). Taking that message to heart, Kiyosaki was able to retire at 47. Rich Dad, Poor Dad, written with consultant and CPA Sharon L. Lechter, lays out his the philosophy behind his relationship with money. The compellingly advocates for the type of "financial literacy" that's never taught in schools. Based on the principle that income-generating assets always provide healthier bottom-line results than even the best of traditional jobs, it explains how those assets might be acquired so that the jobs can eventually be shed.
Den of Theives
- By James Brewer Stewart
A damningly detailed rundown on the predatory conspirators whose willful
violations of securities law and ethical standards gave Wall Street a deservedly
bad name during the takeover frenzy of the 1980's. Wall Street Journal
editor Stewart (The Partners, The Prosecutors) was a beat reporter for
much of the dirty decade. As one result, he has firsthand knowledge of
the carriage-trade criminals who made a mockery of free enterprise during
one of the century's greatest bull markets. Focusing on four major culprits-
-Ivan Boesky, Dennis Levine, Michael Milken, and Martin Siegel--the Pulitzer-winning
reporter offers unsparing accounts of the havoc they wreaked on their own
as well as in concert with wide-ranging rings of accomplices. Nor, it seems,
was the performance of the SEC and US Justice Department particularly praiseworthy.
Indeed, the author leaves little doubt that regulatory authorities and
enforcement officials were usually overmatched and outmaneuvered. Stewart
nonetheless devotes most of his attention to the villains of the piece,
who participated in and organized the era's antisocial daisy chains. Levine,
for example, latched on to Boesky, who, in need of inside information to
reduce the risk of his high- stakes arbitrage trading, had lured investment
banker Siegel into the game. In turn, Boesky became a pawn of Milken's,
a control freak whose financial acumen was exceeded only by his talent
for plotting and organizing illicit buy/sell networks. The author puts
paid to any lingering notion the junk-bond king was unjustly hounded by
vengeful agents of the federal government. In addition, he makes clear
that, but for stubborn pride and hubris, the man who leveraged corporate
American could have cut a favorable deal that greatly reduced his ten-year
prison sentence. A sorry and cautionary tale of world-class scofflaws,
brilliantly reported by a savvy journalist with a sure sense of right and
wrong. - From Kirkus Reviews
Liar's Poker: Rising Through the Wreckage on Wall Street
- By Michael Lewis
In this shrewd and wickedly funny book, Michael Lewis describes an
astonishing era and his own rake's progress through a powerful investment
bank. From an unlikely beginning (art history at Princeton?) he rose in
two short years from Salomon Brothers trainee to Geek (the lowest form
of life on the trading floor) to Big Swinging Dick, the most dangerous
beast in the jungle, a bond salesman who could turn over millions of dollars'
worth of doubtful bonds with just one call. With the eye and ear of a born storyteller, Michael Lewis shows us
how things really worked on Wall Street. In the Salomon training program
a roomful of aspirants is stunned speechless by the vitriolic profanity
of the Human Piranha; out on the trading floor, bond traders throw telephones
at the heads of underlings and Salomon chairman Gutfreund challenges his
chief trader to a hand of liar's poker for one million dollars; around
the world in London, Tokyo, and New York, bright young men like Michael
Lewis, connected by telephones and computer terminals, swap gross jokes
and find retail buyers for the staggering debt of individual companies
or whole countries. The bond traders, wearing greed and ambition and badges of honor, might
well have swaggered straight from the pages of Bonfire of the Vanities.
But for all thier outrageous behavior, they were in fact presiding over
enormous changes in the world economy. Lewis's job, simply described, was
to transfer money, in the form of bonds, from those outside America who
saved to those inside America who consumed. In doing so, he generated tens
of millions of dollars for Salomon Brothers, and earned for himself a ringside
seat on the greatest financial spectacle of the decade: the leveraging
of America. - From the Publisher
A Random Walk Down Wall Street
- By Burton Gordon Malkiel
In A Random Walk Down Wall Street you will discover how much fun it
can be to beat the pros at their own game - and learn a user-friendly,
long-range investment strategy that really works. Skilled in the ways of
Wall Street, Malkiel shows why a broad portfolio of stocks selected at
random will match or exceed the performance of stocks carefully picked
by professionals using sophisticated analytical techniques. This latest
edition includes an update of Malkiel's invaluable "life-cycle guide to
investing," showing how to match an investment strategy to each stage of
your life. - From the Publisher
Dictionary of Financial Terms
- By Virginia B. Morris & Kenneth M. Morris, Edited by Lightbulb Press
Finally, a dictionary that unravels the insider jargon of investing and trading in wordsand pictureswe can all understand. In place of cryptic definitions that are often more intimidating than the words themselves, the Dictionary of Financial Terms provides truly helpful explanations of over 700 of the most commonly used, and most commonly misunderstood financial terms, using examples, illustrations, and complementary graphics to make the words meaningful as well as memorable.Filled with helpful cross references that link related terms and concepts, the dictionary also lists the most important terms to know for online trading, investing in stocks and mutual funds, and analyzing investment performance. Special sections also clarify the differences between frequently confused terms: what is the difference between NASD, Nasdaq and OTC, anyway?With dramatic changes in the financial markets occurring each day, it's getting more and more difficult to read the news, let alone the business sections of daily papers, without a handy guide to financial terms by your side. - From the Publisher
Barrons - available at the newstand, bookstore, or your local Library.
Wall Street Journal - available at most retailers that carry major newspapers.
Wall $treet Week with Louis Rukeyser - Fridays at 8:00pm EST and Saturday at 3:30am EST on your local PBS station - Louis Rukeyser brings to his role as television's top financial expert more than four decades of globe-ranging experience as an award-winning television, radio and newspaper correspondent. His remarkable career has straddled three distinct areas of the news--political analysis, foreign correspondence and economic interpretation--and he has won unusual honors in all three. Mr. Rukeyser's ability to clarify passing events in a lively and insightful fashion, calling on all these areas of expertise, has made him an internationally celebrated broadcaster, lecturer, editor and author.
The Nightly Business Report - Monday-Friday at 7:00pm EST on your local PBS station - Nightly Business Report is America's #1 daily business news program. Viewed in more than one million US households every weeknight and nearly three million every week, Nightly Business Report is the most-watched and longest-running daily business news program on broadcast or cable television. In a fast-paced format, it provides business and economic news and investment information to help people manage their money and stay on top of the news that affects their portfolios.
CashFlow 101 & 202 Board Games
For our listings of financial & investing internet resources, see our links page.
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