The Rules of Risk: An Investor's Guide

Book Description

An innovative framework to understanding risk management
The Rules of Risk takes the reader from the present to the future of risk management. Combining a novel approach to risk management with the tools of mathematics, finance, computer science, and an understanding of capital markets, authors Dembo and Freeman present their framework of a new risk paradigm that peers into the risk-taking of tomorrow to enhance our ability to make choices and manage risk. The implications of their visionary work are far-reaching, affecting the future of investing, the financial institution, the economy, and beyond. The Rules of Risk provides investors not only with an applied vision of the future of risk, but with a knowledge of what risk management is and the thinking behind it.

Customer Reviews:

Review of "Seeing Tomorrow".......2006-03-02

Although I do not agree with the subtitle, this book does NOT rewrite the rules of risk at all, this is an excellent book for the novice or early academic on this subject. I recommend it almost without reservation and STRONGLY recommend that it be read in tandem with "Against The Gods" (which see).

Professor John Kercheval
Georgetown
Washington, DC

Do you "Know Your Risk" ??.......2004-03-16

This book is an excellent primer on risk management. Ron's outlines in clear terms what risk management is, and how it effect's our investment decision process. I loved the chapter on "Sweet Regret". ( I guess I liked it because as a motivational speaker, one of the greatest motivators known to man is: Regret. While this is kind of motivation seems quite negative, it does have a useful place in life every now and then.)

Zev Saftlas, Author of Motivation That Works: How to Get Motivated and Stay Motivated

Even worse than his prior book.......2004-03-03

I read this book hoping to find an improvement on the Rules of Risk. Sadly disappointing. Its filled with technical errors and claims of discovery of great truths on areas already commonly understood. When I discovered technical issues in the book I turned down a corner of the page. 87 pages were marked when I finished. This book is a unique combination of badly written, frequently incorrect and restatements of the obvious. I strongly recommend not wasting your time and money.

Understanding risk management in everyday life.......2003-09-15

This eminently readable book is for a curious general reader who wants to better understand how modern risk management techniques can actually be applied to thinking about and making choices in everyday life. Unless you are allergic to even the most basic of probability theory and statistics, you should find that this book places the building blocks of risk analysis - time horizons, risk measures, benchmarks and scenarios - in the hands of folks who are other than investment and risk management professionals, without entering into the arcane language of derivatives and portfolio theory.

But the book is not itself a key to quick riches. The authors rightly point out from the beginning how the image of the so-called science of risk management provides an illusion of security that has been disproved again and again, with a long catalogue of risk management catastrophes among major names in high finance. They quote Peter Bernstein whose book called Against the Gods (which I have also reviewed on this website) provides a historical perspective on risk management, and ask whether belief in this false security of risk management is no better a modern version of ancient faiths which placed fate in the hands of deities and shamans.

This book is original in that it reduces the complexity of risk to its base elements, and looks at circumstnaces of a given individual, and his or her specific risk tolerances, and the unique reasoning behind his or her choice-making. The chapters are articulated in language which is as jargon-free as possible (Sweet Regret, Keeping Up With the Joneses, The Rap Trap And Evalauton, etc.) for an important subject in which jargon unfortunately has been one of the barriers to more popular understanding.

While it is highly improbable that this book will help you beat the market in managing your investments, you might see how it is possible to think more systematically about common decisions such as whether to buy a house, invest in a college plan for a child, or refinance a mortageg, as well as to understand some of the complexities of public policy choices in which risk is invariably a looming factor.

An excellent perspective on risk.......2003-05-29

This book establishes a strong foundation in risk management. It leans substantially on decision theory and behavioral economics. Its main concept is "regret." Regret is downside risk. We can insure against that downside risk by buying a Put option. Even if we deal in illiquid markets where such options are not available, it is still key to calculate the economic value of regret or of that Put option (if it were to exist). Similarly, the upside of a transaction is equivalent to buying a Call option. Mr. Dembo comes up with this equation: Upside - Lambda(Regret). Lambda captures your risk tolerance. If your risk tolerance is high, Lambda will be small. The inverse is true too.

With this straightforward model, the authors can explain a whole lot of economic incentives with a behavioral component. For instance, you can easily explain why most people would not mind playing roulette with just a dollar bill. But, the same people would not play with $100 dollar bills. In effect, most people would rather take on a bad risk (with poor odds) on a small scale, than take on a better risk (better odds) on a larger scale.

Consulting Secrets to Triple Your Income: How to Start and Build a Turbo-Charged Consulting Business Regardless of Your Field
Average customer rating:

Great book well reasoned and explained.

Fred explains exactly how to make a bundle - superb techniques!

His most up to date thinking on consulting & selling info

Unless You Read This Book, Don't Call Yourself a Consultant

Consulting Secrets to Triple Your Income: How to Start and Build a Turbo-Charged Consulting Business Regardless of Your Field
Fred Gleeck
Manufacturer: Fast Forward Pr
ProductGroup: Book
Binding: Paperback

General | Business & Investing | Subjects | Books
Introduction | Investing | Business & Investing | Subjects | Books
General | Personal Finance | Business & Investing | Subjects | Books
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Selling Information: How You Can Create, Market and Sell Knowledge in Any Field

Publishing for Maximum Profit: A Step by Step Guide to Making Big Money With Your Book and Other How To Material

Speaking for Millions: The Inside Story on How to Make Really Big Money As a Professional Speaker

Marketing and Promoting Your Own Seminars and Workshops

How to Double Your Sales on the Web in 90 Days or Less!

ASIN: 0936965045

Book Description

If you want to start OR build a successful consulting business, this is THE book for you. It is the ONLY book on the market that teaches you how to turn your marketing efforts into a profit center rather than a cost center. Why spend money to find and keep clients when you can get PAID to do it? This book offers a radically different approach to building a successful consulting practice. I don't care whose books or systems you have read, this is different, AND, it works! Using the principles in this book, coaching clients of mine have gotten clients yielding six-figure retainers in less than 90 days! Will your success equal theirs? I don't know, nor would I make those promises. All I do know is that it's possible. IF you follow the system described in this book. Don't hesitate, buy it now!

Customer Reviews:

Great book well reasoned and explained. .......2007-06-26

I love this book. It's well written and well explained. There is a ton of great information. The author really is the King of Content.

I plan to follow this book to a "T" because it is just that well laid out and explained.

I wish more books where written like this one. Thank you Fred. I now see how to make my dream of becoming a consultant come true.

Fred explains exactly how to make a bundle - superb techniques!.......2005-09-13

This is one of my favorite books from one of my favorite authors -- as Fred delivers all the profitable techniques, explained in common-sense, no-nonsense detail for significantly increasing consulting revenue.

As with all of Fred's books, this is one I really wish I'd been able to read and learn from 15-20 years ago, as it would've genuinely multiplied my personal consulting and training income.

Here's what I like best in this must-own resource for consultants:

- Fred explains how to position yourself at the top of your consulting field instantly, using easy-to-understand techniques

- He identifies dozens of strategies that can help you create additional streams of revenue for your practice, literally overnight

- Fred explains how to price your services and how to develop credibility within your niche

- His "in the trenches" experience shines through - you can tell Fred has been there, done that, and shares his years of experience in how to become a successful consultant.

I was a very popular (but not well paid enough!) consultant for many years, 140+ fortune 500 companies as clients... I wish I'd gotten the benefit of Fred's expertise many years earlier. I'd be years closer to retirement (or at least, more leisure time!) if I'd been able to get my hands on this book years ago. Really.

The good news is, no matter what your consulting experience level, from 1-2 year starting out "rookie" to a 10-15 year seasoned veteran, I am certain that if you USE the powerful strategies that Fred reveals you, too can multiple your consulting income.

This one really is a must-read, as are all of Fred's resources.
He, Dan Kennedy and Brian Tracy are my "strategic income multiplier" go-to guys whose techniques really work. Grab this book right now - it's a gem.

Ken Calhoun

His most up to date thinking on consulting & selling info.......2005-05-01

I have the author's book on putting on seminars. That book was very good. This book is better.

The book is very easy to read. It includes some marketing techniques created by others. But his integration of these techniques into a system was very well done.

Gleeck goes through all the criteria and steps for picking a market or niche. I thought this was very interesting and helpful. The coverage of helpful information that could be applied immediately is very broad. The recommendations are clearly laid out.

He repeats a lot of the seminar material but fortunately the seminar material is a small part of the book. Although I have other books of this type, I liked Gleeck's work very much and recommend it highly.

John Dunbar
Sugar Land, TX

Unless You Read This Book, Don't Call Yourself a Consultant.......2002-04-21

This is probably the best book Gleeck has written, and it includes truckloads of useful information and a wealth of clever ideas to create dozens of revenue streams for your consulting business. I almost hope this book isn't a hit, because then every consultant will know all of these secrets to success! I had the pleasure of editing the manuscript for this book, and I was just blown away by the content presented in it. Don't delay, buy...

Book Description

This book is intended to lay out, in a clear and intuitive as well as comprehensive way, what we know - or think we know - about mergers and acquisitions in the financial services sector. It evaluates their underlying drivers, factual evidence as to whether or not the basic economic concepts and strategic precepts are correct. It looks closely at the managerial dimensions in terms of the efficacy of merger implementation, notably the merger integration process. The focus is on enhancing shareholder value creation and the execution of strategies for the successful management of mergers. It also has a strong public-policy component in this "special" industry where successes can pay dividends and failures can cause serious problems that reach well beyond the financial services industry itself. The financial services sector is about halfway through one of the most dramatic periods of restructuring ever undergone by a major global industry. The impact of the restructuring has carried well beyond shareholders of the firms and involved into the domain of regulation and public policy as well as global competitive performance and economic growth. Financial services are a center of gravity of economic restructuring activity. MandA transactions in the financial sector comprise a surprisingly large share of the value of merger activity worldwide -- including only deals valued in excess of $100 million, during the period 1985-2000 there were approximately 233,700 MandA transactions worldwide in all industries, for a total volume of $15.8 trillion. Of this total, there were 166,200 mergers in the financial services industry (49.7%), valued at $8.5 trillion (54%). In all of restructuring frenzy, the financial sector has probably had far more than its share of strategic transactions that have failed or performed far below potential because of mistakes in basic strategy or mistakes in post-merger integration. It has also had its share of rousing successes. This book considers the key managerial issues, focusing on MandA transactions as a key tool of business strategy - "doing the right thing" to augment shareholder value. But in addition, the degree of integration required and the historic development of integration capabilities on the part of the acquiring firm, disruptions in human resources and firm leadership, cultural issues, timeliness of decision-making and interface management have co-equal importance - "doing it right."

Mergers and Acquisitions in Banking and Finance: What Works, What Fails, and Why (Economics & Finance)

Average customer rating:

Mergers and Acquisitions in Banking and Finance: What Works, What Fails, and Why (Economics & Finance)
Ingo Walter
Manufacturer: Oxford University Press, USA
ProductGroup: Book
Binding: Paperback
ASIN: B000OKA574

Prentice Hall's Federal Taxation 2007: Individuals (20th Edition) (Prentice Hall's Federal Taxation Individuals)
Average customer rating:
Prentice Hall's Federal Taxation 2007: Individuals (20th Edition) (Prentice Hall's Federal Taxation Individuals)
Thomas R. Pope , and Kenneth E. Anderson
Manufacturer: Prentice Hall
ProductGroup: Book
Binding: Hardcover

General | Taxes | Accounting | Industries & Professions | Business & Investing | Subjects | Books
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Prentice Hall's Federal Taxation 2007: Corporations, Partnerships, Estates, and Trusts (20th Edition) (Prentice Hall's Federal Taxation)

ASIN: 013243220X

Book Description

For mainstream introductory courses in individual federal income tax concepts and applications at the undergraduate or MBA level.

This series goes beyond simply being a definitive guide by being the only book in tax that provides a built-in study guide (throughout the margins) to break down concepts and assist students in learning tax concepts.

Prentice Hall's Federal Taxation 2007: Comprehensive (20th Edition)

Average customer rating:

Prentice Hall's Federal Taxation 2007: Comprehensive (20th Edition)
Thomas R. Pope , and Kenneth E. Anderson
Manufacturer: Prentice Hall
ProductGroup: Book
Binding: Hardcover

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ASIN: 0132389479

Prentice Hall's Federal Taxation 2007: Corporations, Partnerships, Estates, and Trusts (20th Edition) (Prentice Hall's Federal Taxation)

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Prentice Hall's Federal Taxation 2007: Corporations, Partnerships, Estates, and Trusts (20th Edition) (Prentice Hall's Federal Taxation)
Kenneth E. Anderson , and Thomas R. Pope
Manufacturer: Prentice Hall
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ASIN: 0131751484

Prentice Hall's Federal Taxation: 2008 Comprehensive

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Prentice Hall's Federal Taxation: 2008 Comprehensive
Thomas R. Pope , Kenneth E. Anderson , and John L. Kramer
Manufacturer: Prentice Hall
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ASIN: 0132416492

Book Description

For any first course in Federal Taxation at the undergraduate or MBA level.

The Pope/Anderson/Kramer series is unsurpassed in blending the technical content of the most recent federal taxation mandates with the highest level of readability and relevancy for students.

Prentice Hall's Federal Taxation 2006: Comprehensive (19th Edition)

Average customer rating:

Prentice Hall's Federal Taxation 2006: Comprehensive (19th Edition)
Thomas R. Pope , Kenneth E. Anderson , Allen Ford , Anna C. Fowler , Robert Gardner , John Kramer , Susan Nordhauser , and Dale Bandy
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Binding: Hardcover

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Prentice Hall's Federal Taxation 2006: Principles (19th Edition) (Prentice Hall's Federal Taxation Individuals)

Average customer rating:

Great textbook - Poor Reference

Prentice Hall's Federal Taxation 2006: Principles (19th Edition) (Prentice Hall's Federal Taxation Individuals)
Thomas R. Pope , Kenneth E. Anderson , Allen Ford , Robert Bandy , Richard Joseph , and John Kramer
Manufacturer: Prentice Hall
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Binding: Hardcover

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ASIN: 0131859226

Book Description

For mainstream introductory courses in individual federal income tax concepts and applications at the undergraduate or MBA level.

Customer Reviews:

Great textbook - Poor Reference.......2007-02-23

I purchased this book as reference for the current year. Poor choice. It does not have the changes for the last two years integrated into the text. If I was teaching a tax class I would use this book as my text. It is very complete and the exercises have very real world situations.

Average customer rating:

Prentice Hall's Federal Tax Course 1998
Judith Sage
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ProductGroup: Book
Binding: Hardcover

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ASIN: 0136535852

Prentice Hall's Federal Taxation 2006: Corporations,Partnerships, Estates, and Trusts (19th Edition) (Prentice Hall's Federal Taxation)

Average customer rating:

Prentice Hall's Federal Taxation 2006: Corporations,Partnerships, Estates, and Trusts (19th Edition) (Prentice Hall's Federal Taxation)
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ASIN: 0131859463

Book Description

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Average customer rating:

1992 Federal Tax Course
Prentice Hall
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1993 Prentice Hall Federal Tax Adviser
Tax and Professional Practice Editoral
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