"Becoming a More Confident Investor" was the name of an informative program presented at the library on April 2nd. The presenter stressed the value of creating a budget, examining where you spend your money, finding out your risk tolerance, and setting goals before you start investing. Resource guides, including suggested book titles and websites, plus financial advice, are located on the related website--
http://smartinvesting.selco.info/resource-guide
Friday, April 3, 2009
Friday, September 26, 2008
Prophets of Doom
The current economic mess we're facing wasn't entirely unforeseen; check out these books for insight into the origins of the financial abyss:
The subprime solution : how today's global financial crisis happened, and what to do about it (332.722 SH621S) by Robert Shiller (2008).
As Yale University economist Robert Shiller demonstrates in his short, whip-smart new book "The Subprime Solution," there was a contagion at work that helped pushed home prices to unsustainable levels.
In what he describes as a 'brief manifesto,' Mr. Shiller argues that bailouts of distressed borrowers are inevitable to avoid wrecking our economy and shredding our social fabric--even though bailouts may punish the prudent (say, through higher taxes) while comforting those who gambled on real estate and lost.(James R. Hagerty Wall Street Journal )
The world is curved : hidden dangers to the global economy
(337 SM41W ) by David Smick (2008).
With this illuminating book, Smick revisits Thomas Friedman's description of the "flat" world produced by globalization, arguing instead that the uncertainty produced by globalized financial markets has created a world that is curved, where events and their consequences are unpredictable. Smick begins with a puzzle: why did the subprime mortgage crisis, an event that directly impacted a relatively small piece of the global market, have such a catastrophic impact on the world market as a whole?
The trillion dollar meltdown : easy money, high rollers, and the great credit crash
(332.0415 M831T ) by Charles Morris (2008)
According to Charles R. Morris, the astronomical leverage at investment banks and their hedge fund and private equity clients virtually guarantees massive disruption in global markets. The crash, when it comes, will have no firebreaks. A quarter century of free-market zealotry that extolled asset stripping, abusive lending, and hedge fund secrecy will come crashing down with it. The Trillion Dollar Meltdown explains how we got here, and what is about to happen.
The new paradigm for financial markets : the credit crisis of 2008 and what it means
(332.0973 SO69N ) by George Soros (2008)
In the midst of the most serious financial upheaval since the Great Depression, legendary financier George Soros explores the origins of the crisis and its implications for the future. Soros, whose breadth of experience in financial markets is unrivaled, places the current crisis in the context of decades of study of how individuals and institutions handle the boom and bust cycles that now dominate global economic activity. “This is the worst financial crisis since the 1930s,” writes Soros in characterizing the scale of financial distress spreading across Wall Street and other financial centers around the world. In a concise essay that combines practical insight with philosophical depth, Soros makes an invaluable contribution to our understanding of the great credit crisis and its implications for our nation and the world.
Empire of debt : the rise of an epic financial crisis
(336.340973 B6434E) by William Bonner (2006)
In America, we know what we have to do. We have an empire to run. Outlying places to police. People to boss around. Sabres to rattle. And an economy that has to remain Numero Uno. Unfortunately, history shows that running an empire is a disastrously expensive business. You pay in cash. You pay in blood. And you pay with your own soul.
The shock doctrine : the rise of disaster capitalism
(330.122 K672S, also on CD) by Naomi Klein (2007)
An introduction to the concept of "disaster capitalism" offers an exposé of how the global "free market" has exploited crises, violence, and shock over the past three decades to promote radical privatization that benefits large corporations and powerfulinterest groups.
The subprime solution : how today's global financial crisis happened, and what to do about it (332.722 SH621S) by Robert Shiller (2008).
As Yale University economist Robert Shiller demonstrates in his short, whip-smart new book "The Subprime Solution," there was a contagion at work that helped pushed home prices to unsustainable levels.
In what he describes as a 'brief manifesto,' Mr. Shiller argues that bailouts of distressed borrowers are inevitable to avoid wrecking our economy and shredding our social fabric--even though bailouts may punish the prudent (say, through higher taxes) while comforting those who gambled on real estate and lost.(James R. Hagerty Wall Street Journal )
The world is curved : hidden dangers to the global economy
(337 SM41W ) by David Smick (2008).
With this illuminating book, Smick revisits Thomas Friedman's description of the "flat" world produced by globalization, arguing instead that the uncertainty produced by globalized financial markets has created a world that is curved, where events and their consequences are unpredictable. Smick begins with a puzzle: why did the subprime mortgage crisis, an event that directly impacted a relatively small piece of the global market, have such a catastrophic impact on the world market as a whole?
The trillion dollar meltdown : easy money, high rollers, and the great credit crash
(332.0415 M831T ) by Charles Morris (2008)
According to Charles R. Morris, the astronomical leverage at investment banks and their hedge fund and private equity clients virtually guarantees massive disruption in global markets. The crash, when it comes, will have no firebreaks. A quarter century of free-market zealotry that extolled asset stripping, abusive lending, and hedge fund secrecy will come crashing down with it. The Trillion Dollar Meltdown explains how we got here, and what is about to happen.
The new paradigm for financial markets : the credit crisis of 2008 and what it means
(332.0973 SO69N ) by George Soros (2008)
In the midst of the most serious financial upheaval since the Great Depression, legendary financier George Soros explores the origins of the crisis and its implications for the future. Soros, whose breadth of experience in financial markets is unrivaled, places the current crisis in the context of decades of study of how individuals and institutions handle the boom and bust cycles that now dominate global economic activity. “This is the worst financial crisis since the 1930s,” writes Soros in characterizing the scale of financial distress spreading across Wall Street and other financial centers around the world. In a concise essay that combines practical insight with philosophical depth, Soros makes an invaluable contribution to our understanding of the great credit crisis and its implications for our nation and the world.
Empire of debt : the rise of an epic financial crisis
(336.340973 B6434E) by William Bonner (2006)
In America, we know what we have to do. We have an empire to run. Outlying places to police. People to boss around. Sabres to rattle. And an economy that has to remain Numero Uno. Unfortunately, history shows that running an empire is a disastrously expensive business. You pay in cash. You pay in blood. And you pay with your own soul.
The shock doctrine : the rise of disaster capitalism
(330.122 K672S, also on CD) by Naomi Klein (2007)
An introduction to the concept of "disaster capitalism" offers an exposé of how the global "free market" has exploited crises, violence, and shock over the past three decades to promote radical privatization that benefits large corporations and powerfulinterest groups.
Tuesday, March 11, 2008
Your Brain and Your Money
As stock market indices sink lower, it's good to remember that economic predictions depend partly on human behavior, which is never entirely rational or predictable.
For some good reading on this subject, the classic book published back in 1841 is Extraordinary popular delusions and the madness of crowds (133.7 M19E ) by Charles Mackay, which describes events such as tulipomania, a precursor to the high tech stock bubble of the 1990s.
An updated book on the same subject of people behaving crazily is Irrational exuberance (332.63222 SH621I) by Robert Shiller. Human nature hasn't changed much in the last few hundred years.
Economists have even started examining neuroscience research to find clues on behavior. Try reading Your money and your brain : how the new science of neuroeconomics can help make you rich (332.6019 Z92Y) by Jason Zweig to see how you can personally profit from their insights.
Is your person financial decision-making not so great? Read Why smart people make big money mistakes--and how to correct them : lessons from the new science of behavioral economics (332.024 B419W) by Gary Belsky to find out the reason for self-defeating behavior.
From a broader philosophical approach, Nassim Taleb, a former hedge fund manager, explains how we fool ourselves into thinking we know more than we actually do in The black swan : the impact of the highly improbable (003.54 T143B).
Tuesday, December 18, 2007
Morningstar vs. Value Line?
For investors, the library has the online versions of Morningstar and Value Line. Morningstar can also be used outside the library with a library card, but Value Line restricts our license to in-library use.
Most people associate Morningstar with mutual funds, and Value Line with stocks, but both services now cover mutual funds and stocks. So why have two services? It's always great to have a second opinion, and analyst reviews may give different ratings or prospects for the same stock or fund.
Both services offer screeners for stocks and funds, but the methods are different enough so that you may prefer one service over another when it comes to screening. Value Line allows you to use a flashdrive to save your screen, if you want to retrieve the same screen or list of stocks next time you're in the library.
Morningstar has a great portfolio X-ray feature, to analyze how your portfolio is invested by sector, region, asset class, or risk level.
Give both services a try next time you're looking for investment advice.
Most people associate Morningstar with mutual funds, and Value Line with stocks, but both services now cover mutual funds and stocks. So why have two services? It's always great to have a second opinion, and analyst reviews may give different ratings or prospects for the same stock or fund.
Both services offer screeners for stocks and funds, but the methods are different enough so that you may prefer one service over another when it comes to screening. Value Line allows you to use a flashdrive to save your screen, if you want to retrieve the same screen or list of stocks next time you're in the library.
Morningstar has a great portfolio X-ray feature, to analyze how your portfolio is invested by sector, region, asset class, or risk level.
Give both services a try next time you're looking for investment advice.
Subscribe to:
Posts (Atom)
