Simple yet poweful!

This book takes key concepts in building your own wealth and communicates them in the story of Robert's two fathers. The poor, highly educated one and the wealthy one who did little school education. By revealing his formative years being taught by rich dad how to build independent wealth- you learn the simple but very important ways the rich build wealth.<br /><br />Despite its simplicity, the message works on many levels, it's a fascinating story, it shows you how the rich build their wealth and it shows you how to avoid the pitfalls of staying poor from bad habits.<br /><br />An easy read chock full of financial wisdom.

Hard Work

I had big hopes for this book and was duly let down.<br /><br />The author tries to broach the subject of economics with his casual style of writing, unfortunately this is not enough. The book struggles to find any rhythm and subsequently becomes a chore rather than a pleasure.<br /><br />There are better economic books available, which make their point and are more enjoyable to digest. <br />

a few hundred pages on...on what actually?

for the general public interested in the weird world of probability or the unknowns of the universe i'd suggest buy a popular book on quantum theory or some post-modern work of fiction instead. sky diving is another option to explore probabilities. for the more mathematically inclined reader or trading professional it's probably better to stick to Taleb's good book: dynamic hedging.

Great.

Although I have yet to find the time, spare cash or the confidence to start trading I do think that this book will prove invaluable to me when I finally do. The advice is not going to guarantee you a fortune over night or even guarantee you success. However it will make the whole world of stocks and shares much less of a mystery whilst providing you with some very useful hints tips and information. Looking over some of my friend's dealings and losses I now understand approximately where they may have gone wrong. Had they read this book first they may have saved themselves some money. Even such seemingly simple advice about setting loss stops and never buying into the `falling knife' stocks is very helpful. The author includes many examples of winning and losing scenarios as well as pointers on where deals often go wrong.<br />As other reviewers have said the book is very easy to read in a sitting or two, and also amusing in places. <br />I will be passing this on to my unsuccessful share dealing friends, and recommend it to anyone still in their early days of dealing. <br />

A twisted and frequently inchoate rant

Seven years ago, while still a university student, the must read book at my alma mater was Naomi Klein's `No Logo.' A probing and insightful look into the way that corporations were taking over our high streets and lives, it was at once pertinent and relevant. I had only lived in London for a couple of years, and already witnessed how its high streets were transmogrifying into `any street/ any town'. In barely 18 months the coffee shop culture I had once loved had been wrecked by Starbucks, one of Klein's principle targets. Though those who said it was the `defining tome' of its generation or the `handbook of the anti-globalization' movement overstated its importance, `No Logo' was an outstanding and memorable book, a must-read, even. <br /><br />Now, we have `The Shock doctrine: The Rise of Disaster Capitalism' the long awaited follow up to `No Logo'. <br /><br />Naomi Klein writes that this started out as a book about the privatization of the war on terror and became something else. `The truth [of its content] seems so bizarre,' she writes in an early chapter. It is `a book about shock. About how countries are shocked - by wars, terror attacks, coups d'etat and natural disasters . And then they are shocked again - by corporations and politicians who exploit their fear and disorientation of this first shock to push through economic shock therapy. And then how people who dare to resist this shock politics are, if necessary, shocked for a third time - by police soldiers and prison officers...' <br /><br />The premise and scope of the book are thus ambitious and promising. Klein's thesis is certainly original and thought-provoking. Unfortunately she is unable to support it without making ludicrous jumps between historical events, drawing incorrect conclusions, using cursory evidence, and painting a picture of a vast right wing global conspiracy that often verges on the ludicrous. <br /><br />The target for most of her ire is Milton Friedman and the so-called Chicago School of economists, that have influenced the policy of every world leader from Augusto Pinochet to Margaret Thatcher to George W Bush. Alas, Klein gives the Chicago School far too much importance. She doesn't recognize them for what they are: academics, whose work is only ever taken and modified to suit the needs of the country it is applied to. The Chicago School has never changed the fate of a single country - only those that have employed their strategies have done that. <br /><br />The picture Klein paints is one in which the Chicago School spend forty years traveling the world, coercing global politicians - many of whom are portrayed as dozy or unwitting - into implementing their theories. According to Klein these men are fanatics that live for the stripping down and privatization of the global economy. Omnipresent is Friedman, who is portrayed as a sort of `Dr Evil' figure pulling the strings behind this cabal. The impression one gets, if taking this thesis at face value, is not unlike that behind the infamous nineteenth century anti-Semitic tome `The Protocols of the Elders of Zion' which made out that the world was governed by a global Jewish conspiracy. Replace the Jews with Chicago School economics professors and you have the updated version - The Shock Doctrine. <br /><br />To support this theory Klein twists and turns global historical events to fit her narrative. The context of the Cold War is ignored completely with regards events in the 1960s 70s and 80s (of course all US foreign policy was pretty much dictated by the Chicago School, wasn't it?). Mrs Thatcher launches the Falklands War not to defend British sovereign territory, but to allow her to privatize British state utilities. (That the Argentine defeat led to the overthrow of the hated military junta, a target of Klein in an earlier chapter is conveniently overlooked). The necessary reforms to bring the rotten and bankrupt former Communist countries up to date are lambasted at every turn. Poland, which underwent a particularly harsh form `shock therapy', and Russia, which was undermined by the corruption of the Yeltsin era, are the only examples given; not the Baltic states, Hungary, Slovenia, the Czech Republic or Slovakia whose transitions were all smoother and are wealthy and well-integrated members of the EU 25 (an inconceivable notion in 1989). None of this would be extreme enough to fit her narrative. <br /><br />Ignored also are the unquestioned success stories of those countries that have brought in liberal economic reforms, some modeled on the Chicago school. What of Ireland, once the sick man of Europe and now its richest country after oil rich Norway? Why not give some context on the reforms in Britain, where, pre-Thatcher, it was a strike ridden, ineffective country on an inexorable downward spiral? Why no mention of the colorlessness, economic pallor and corruption of the communist world? <br /><br />There are other inconsistencies and twisted facts too. The South American junta leaders are (rightly) lambasted for their corruption. But when the IMF and World Bank get successor regimes to sign reforms designed to stop future leaders using the state treasuries as their current accounts, it is seen as part of the Chicago School's conspiracy. <br /><br />Klein's use of figures can be sketchy too. She uses the NASDAQ and how it reacts `positively' to terrorist attacks to show how it suits those wicked capitalists for bad things to happen. Thus it jumps 7 points the day of the 7/7 bombings in London (she doesn't point out that this was about 0.2%) and 11.4 points the day a terror plot was thwarted in the UK the following year. This is obviously because it suits banks for bad stuff to happen because we live in a disaster economy, not because it might be down to ordinary fluctuations (not even that the jumps were anything out of the ordinary). She is rightly angry that an incompetent former governor of New Mexico is put in charge of post-invasion Iraq's educational program. But in contrasting New Mexico and Iraq's literacy rates, she uses figures from 1985. <br /><br />She is better on her original subject - the privatization of the Iraq war. The corrupt, idiotic and wholly inefficient rule of the Bush administration is a perfect target, and her account of its work in Iraq, and also New Orleans, is a reminder of what a good journalist she can be. The chapters dealing with the betrayal of the Tsunami hit populations of South Asia are good - but then she spoils it with trying to draw it into her tirade against Friedman and the Chicago School. <br /><br />It is only these parts that save the Shock Doctrine from oblivion. The rest is an uneven, frequently inchoate and self righteous rant that is utterly unconvincing if you read between the lines. Unfortunately there are those that will take everything she writes at face value, and repeat and adopt her many ludicrous stances. That is why this work is so detrimental to those - like me - seeking social justice in this world and ultimately a panacea to those she lambastes.

Unpredictably interesting

Any book that seems to predict your behaviour is both intriguing and, let's face it, a bit scary. I started this book with a measure of cynicism - everyone seems to be cashing in on the self-help style book these days. Well, I don't mind eating some humble pie - I was wrong.<br /><br />To start, this isn't a self-help book. It's a study of human nature. But that's not to say it doesn't offer some advice on how we can combat these 'hidden forces'. Each chapter covers an area of our 'predictable irrationality' and Ariely uses straightforward experiments to support his theories. For example, let me tell you one part of the book that applied to me.<br /><br />I used to pick up a coffee on the way to work two or three times a week for about £1.20. It was decent enough coffee and a nice treat. One day I passed by my local Cafe Nero. I bought a cup for £2.15. It's a bigger cup, much nicer coffee. Next time I pass I'm buy it again. Soon I'm buying it five days a week because that's become normal. I don't even think about it - it's as habitual as my three meals a day.<br /><br />Then I read this book and to tell the truth I felt slightly sick when I read the part of the book where Ariely describes exactly this type of scenario. I sat back and thought,"I've gone from spending £2.40 a week to £10.75". I went cold turkey and stopped my daily coffee! <br /><br />It's a bit of a waffly point I know but what I'm trying to highlight is that Ariely's book holds up a mirror. Think you're above irrationality? Think again. I have a friend who has now bought the book and half way through she admits to being as freaked out as me.<br /><br />It's well written, not too wordy, not condescending, funny in parts and I should imagine most people would be able to identify with some parts. The downside? Ariely offers some ways to rise above this 'predictable irrationality' but by the end of the book I almost felt like there was a sort of resigned 'well, we can try but we are who we are' feel. However, let's be fair, Ariely is one man and one man can only do so much.<br /><br />An excellent book and one I would certainly recommend but don't be surprised if it makes you look a little harder at yourself. But you never know - it might save you the £8 a week it's now saving me, so it's got to be worth it!

Dissaponting, but makes a good door stopper

I have not read The Undercover Economist, and I certainly don't plan to after I've read this book, that is if it's as bland and obvious as the logic of life. I stuck with the book after 150pages then put it down feeling disappointed and conned after reading some of the reviews. I imagined that I'd be intellectually inspired or intrigued by some of the theories Harford postulates. Ocassionally, i let out a tiny grubble at some mildly interesting anecdotes. Overall, a book wholly committed to rationalising pretty much everything is fraile with limited attributes.<br />Boring !!<br />

Quirky

An odd, if at times, interesting little book. If there were more it, it may have been more satisfying. As it is it's fine as a snatched read between other more entertaining activities. Ideal for half hour bus rides but not something to keep you gripped and begging for more. Perhaps that was the idea?

Perfect for the economic novice

Why do 24 hour shops have locks on their doors?<br />Why are whales in danger of extinction but not chickens?<br />Why is it easier to find a partner when you already have one?<br /><br />A fun and fascinating look at social phenomena, Frank's 'The Economic Naturalist' answers the questions we really want to know. Forget graphs, diagrams and endless equations, economics can be surprisingly entertaining! A book I'd highly recommend. <br /><br />

Get the full story!

I have read Richard Branson biography, Losing my Virginity only recently and so this book contains nothing new...too bad i bought this one. Although cheap it's not really worth the money i have to admit. Go for his book, Losing my Virginity and you will get your money's worth! I don't understand the marketing strategy, if they even had one with this one!

Superb How To Book

The Turtles Story is Legendary in Trading Lore.<br /><br />An open account of how the author was selected for the Turtles, how they did it and what was achieved and the obstacles they came across on route.<br /><br />The full Turtle System is described, entries, exits, risk management.<br /><br />Curtis Faith writes simply and describes in clear language what an effective trading system looks like, what its component parts are, with reference to the Turtles system.<br /><br />There are an excellent couple of chapters on system design and evaluation. How to evaluate, what to expect in real time after your tests. It's clear he has walked the walk. I'll vouch for that from my own trading experience.<br /><br />They way they made millions is explained carefully; anybody can do it if they follow the rules. But can you?<br /><br />I've read many trading books, traded actively and this is an excellent book, the best I've read on trading systems. It's easy for anybody to read as a novice and will set you on the correct development path. For those more experienced but not following mechanical rule based systems it's a must.<br /><br />As an aside there's a small Excel Spreadsheet you can find on the Internet called Risk of Ruin xls. Try working out how much of your available pot (that's when you stop trading due to losses reaching intolerable levels) you currently risk per trade and work out your risk of wipeout and your biggest forecast draw down. Ask yourself what that draw down would mean to you in cash terms and whether you could carry on at that point. It's most illuminating.<br />

Liberating

In the first six weeks since reading this book I am richer in these ways:<br />- There is hope of a happy marriage<br />- I enjoy my time with the children so much more and am not stressed and bored with them<br />- I am teaching my children to be positive about money<br />- I now enjoy the job I have hated for 3 years<br />- I now have no issues that would make me unsuccessful with money<br />- I am now relaxed about how successful I will be in life<br />- I now enjoy the company of friends so much more<br />- My thoughts revolve around the good things in life<br />...<br /><br />Oh, and within the first six weeks, I miracleously have received £5,500 from various places and am earning £6,000 more a year, going up another £2,500 in April.

An exceptional book in its class.

Rob Hopkins has produced a brilliant assessment of the two major problems facing the world today, that of the depletion of oil and the rapidly changing global climate. He explains the scale of the crisis we all face, and outlines how our response to this crisis could result in a better world for everyone, if we act now.<br /><br />The first chapters of the book explain clearly how the duel problems of peak oil and climate change threaten every aspect of our modern way of life. Hopkins goes on to offer his own analysis of how each of us can respond to the crisis from the level of our local community. He makes it clear that only by acting together in an informed way, can we successfully bring about an effective transition to a viable future, no longer dependent on oil. <br /><br />Extremely inspiring, relevant and a must read for everyone who is concerned about the future of our world. I give it 5 stars.<br /><br />

Inspiring book !

Fantastic book. Best financial book i have read so far. Alot of these financial books are advice from people but where i think this book was gd and stood out was the fact that he gets his point across in stories throughout the book and makes them not only more entertaining to read but simple to understand and therefore imprinted into your sub concious easier so you will think like it all the time. <br /><br />Very simple principles and concepts about money which everyone should be tought. If you follow everything in this book there is no doubt you will be in a much better financial position. If you dont believe me check out how many 5 star reviews this book has got ! proof is in the pudding

Good Timing ....again

For those like me that benefitted over 2 years ago from the Calls made by these 2 authors in"Wake Up .." , when they correctly foresaw the increasing dominance of Asia and huge boom in Metals and commodities , should find this opportune too . This time the emphasis is on Investment basics ..getting your house in order and then a fresh look at all the key investment areas of Real Estate, Stocks commodities or Cash in straight forward succinct terms . <br />Given the level of global uncertainties in 2008 already ..some ground rules here that everyone should re-read .. the timing again couldn`t be better..

A MUST HAVE FOR ALL SPREADBETTERS

I bought this book a few months ago when I started spreadbetting. It has been an invaluable resource and I am always referring to it. Every page has valuable information and I keep on re-reading certain parts. It teaches the fact that spread betting is not a game and you have to have a systematic approach otherwise you'll lose money. You may still gain from studying technical analysis in more detail though this is also covered somewhat in the book.Highly recommended.

A Timeless Classic

The original text was written quite some years ago, yet like most truly good advice it survives the passage of time very well. An essential classic to read if you want to get your mind and attitude properly focused on Value Investing.

If you dont know the rules can you break them...

It would be foolish to be a manager based on a set of rigid rule as every situation is different, however useful guidelines or boundaries would be a better description. Some of the rules are timely reminders like never bitching about your boss to others, picking your team like an orchestra (everyone needs to play an instrument other wise they might be surplus to requirements.) Really easy to read, perhaps pick up a few rules a day before you start work. Enjoyed the movie quotes that seem to start each rule too. Would recommend as a great intro to line management.