|
| Friday, December 3, 2010 |
| Book Review - No More Christian Nice Girl |
  I usually don't buy books of this genre but since the No More Christian Nice Girl: When Just Being Nice--Instead of Good--Hurts You, Your Family, and Your Friends book was offered to me for review for free by the publisher (Bethany House), I decided to go through it. As I started reading, I became more and more interested in going through the entire book. I am glad I read this book as it was not only entertaining and interesting but also very informative and filled with lot of practice advice.
Although the book focuses on girls, it can be applied to both genders. The central concept is that being too nice and trying to please everyone can do you and your family more harm than good. As per the book, being a good Christian and following Christ doesn't mean that you be nice no matter what and become a door mat for other people to walk over. Instead, the book recommends being more assertive, bold, authentic, and level-headed. The book cites various instances where Jesus Christ was assertive instead of trying to be always nice. Although the book seems repetitive at times, overall, it is a good book, filled with many words of wisdom.
I have received complimentary copy of the book. Please also see Disclosures and DisclaimerLabels: book, book quote, books, quotes, rev, WQ |
posted by Little Rishi @ Friday, December 03, 2010
 |
|
|
|
| Saturday, September 4, 2010 |
| Weekend Quote from a Book - Relationship Between Frustration and Money |
  People get paid very well to handle frustration. If you're broke, it's probably because you're not handling very much frustration. You say, "Well, I'm broke, and that's why I'm frustrated." You've got it backward. If you handled more frustration, you would be rich. A major difference between people who are financially secure and people who are not is how they handle frustration. I'm not callous enough to suggest that poverty doesn't have huge frustrations. I'm saying the way not to be poor is to take on more and more frustration until you succeed. People say, "Well, people with money don't have any problems." If they take on enough, they probably have more problems. They just know how to deal with them, to come up new strategies, new alternatives.
Source: Unlimited Power
by Anthony Robbins
Please also see Disclosures and DisclaimerLabels: book, book quote, books, quotes, WQ |
| posted by Little Rishi @ Saturday, September 04, 2010
|
|
|
|
| Saturday, August 28, 2010 |
| Weekend Quote from a Book - Successful People |
Studies of successful people have shown over ad over again that they have a great talent for creating rapport. Those who are flexible and attractive in all three modes can affect large number of people whether as a teacher a businessman, or a world leader. But you don't need any sort of natural gift to do it. If you can see and hear and feel, you can create rapport with anyone just by doing what he does. You're looking for the things you can mirror as unobtrusively and as naturally as possible. If you mirror a person as asthamtic or has a terrible twitch, instead of achieving rapport, you'll lead him to think your're mocking him.
Source: Unlimited Power
by Anthony Robbins
Please also see Disclosures and DisclaimerLabels: book, book quote, books, quotes, WQ |
| posted by Little Rishi @ Saturday, August 28, 2010
|
|
|
|
| Saturday, August 7, 2010 |
| Weekend Quote from a Book - Cause for the Credit Card Debt |
  The amazing thing about this is that credit cards don’t have arms or legs. They can’t jump out of your wallet or your purse and go on a spending spree on their own. So if you are over your head in credit card debt, how exactly did you get there?
Source: Start Over, Finish Rich: 10 Steps to Get You Back on Track in 2010
by David Bach
I am a Amazon.com affiliate. Please also see Disclosures and DisclaimerLabels: book, book quote, books, quotes, WQ |
| posted by Little Rishi @ Saturday, August 07, 2010
|
|
|
|
| Saturday, July 31, 2010 |
| Weekend Quote from a Book - The Trend of Future Earnings |
  In recent years increasing importance has been laid upon the trend of earnings. Needless to say, a record of increasing profits is a favorable sign. Financial theory has gone further, however, and has sought to estimate future earnings by projecting the past trend into the future and then used this projection as a basis for valuing the business. Because figures are used in this process, people mistakenly believe that it is "mathematically sound." But while a trend shown in the past is a fact, a "future trend" is only an assumption. The factors that we mentioned previously as militating against the maintenance of abnormal prosperity or depression are equally opposed to the indefinite continuance of an upward or downward trend. By the time the trend has become clearly noticeable, conditions may well be ripe for a change.
- Source: Security Analysis: Sixth Edition, Foreword by Warren Buffett (Limited Leatherbound Edition) (Security Analysis Prior Editions)
by Benjamin Grahim and David Dodd
Please also see Disclosures and DisclaimerLabels: book, book quote, books, quotes, WQ |
| posted by Little Rishi @ Saturday, July 31, 2010
|
|
|
|
| Saturday, July 24, 2010 |
| Weekend Quote from a Book - Three Ways to Use Your Present Moments |
  Be in the Present
When you want to be happy and successful.
Focus on what is right now.
Use your purpose to respond to what is important now.
Learn from the Past
When you want to make the Present better than the Past.
Look at what happened in the Past.
Learn something valuable from it.
Do Things Differently in the Present.
Plan for the Future
When you want to make the Future better than the Present.
See what a wonderful future would you like.
Make plans to help it happen.
Put your plan into your action in the Present.
- Source: The Present: The Gift That Makes You Happy And Successful At Work And In Life
by Spencer Johnson
Please also see Disclosures and DisclaimerLabels: book, book quote, books, quotes, WQ |
| posted by Little Rishi @ Saturday, July 24, 2010
|
|
|
|
| Saturday, July 17, 2010 |
| Weekend Quote from a Book - Trading on news |
  Why is it that you can’t hear some favorable piece of news on the radio or TV or read it on the Internet and use that information to make a favorable trade? Because an army of profit-seeking, full-time professionals will have likely already pounced on the news to drive the stock price up before you have a chance to act. That’s why the most important pieces of news (such as takeover offers) are announced when the market is closed. By the time trading opens the next day, prices already reflect the offer.
- Source: The Elements of Investing
by Burton G. Malkiel & Charles D. Ellis
Please also see Disclosures and DisclaimerLabels: book, book quote, books, quotes, WQ |
| posted by Little Rishi @ Saturday, July 17, 2010
|
|
|
|
| Saturday, July 10, 2010 |
| Weekend Quote from a Book - Job Security |
  I want to hammer home a point here: the nature of large, global corporate organizations in today’s tumultuous markets is such that they can and should change frequently to stay alive. Strategies will change. Business plans will change. Organization structure will change. Your position is not secure, no matter how well you do your job.
- Source: Escape from Cubicle Nation: From Corporate Prisoner to Thriving Entrepreneur
by Pamela Slim
Please also see Disclosures and DisclaimerLabels: book, book quote, books, quotes, WQ |
| posted by Little Rishi @ Saturday, July 10, 2010
|
|
|
|
| Saturday, July 3, 2010 |
| Weekend Quote from a Book - Repaying Debts |
  Dabasir borrowed from his friends and could not repay them. Things went from bad to worse. His wife returned to her father and he left Babylon. He fell in with robbers and were taken to Damascus and sold as slaves. Dabasir was purchased for two silver pieces by a Syrian desert chief and became a camel tender for his daughter who is intrigued with Dabasir’s background.
“If a man has within him the soul of a free man, will he not become respected and honored in his own city in spite of his misfortune?” “Have you a desire to repay the just debts you owe in Babylon? She parried.
“Yes I have the desire, but see no way.” Said Dabasir.
“…thou hast but the contemptible soul of a slave. No man is otherwise who cannot respect himself and no man can respect himself who does not repay honest debts.”
Dabasir’s debts were his enemy and he had been run out of town. If he had stood up and fought like a man, he would have found respect.
“If I had the soul of a free man, I would force my way back into Babylon, repay the people who had trusted me, bring happiness to my wife who truly loved me and bring peace and contentment to me parents.”
Source: The Richest Man in Babylon
by George S. Clason
Please see Disclosures and DisclaimerLabels: book, book quote, books, quotes, WQ |
| posted by Little Rishi @ Saturday, July 03, 2010
|
|
|
|
| Wednesday, June 30, 2010 |
| Book Review - Full of Book |
  Since I like learning about stock investing, I was very excited to go through Full of Bull: Do What Wall Street Does, Not What It Says, To Make Money in the Market in the hopes of learning more about investing. However, after reading the book, I felt that except for a couple of chapters, the book was a bit of a disappointment. Reason? The central idea of the book is that ordinary, individual (retail) investors should be careful about the analyst buy/sell recommendations and not take the Wall Street literally. Despite being a relatively thin book (with 196 pages devoted to the main content), the author keeps repeating this theme throughout the book without going too much into how individual investors can better analyze the stocks.
About the Author
The book is written by a highly experienced and well-known analyst, Stephen T. McClellan. He's a Chartered Financial Analyst (CFA) and has over 30 years of investment analyst experience at various firms, including Salomon Brothers and Merrill Lynch (which is now part of Bank of America). He also ranked on the annual Institutional Investor All-America Research Team for 19 consecutive times. Full of Bull is actually Stephen McClellan's second book, the previous one being The Coming Computer Industry Shakeout. Needless to say, the author has an impressive background and credentials, and his achievements are all the more remarkable considering that the author grew up delivering newspapers while in high school.
About the Book
The first edition (hardcover) of Full of Bull was published in late 2007, with some revisions made for the second printing which was released in early 2008. The latest 2009 paperback edition (which is being reviewed here) was printed in June 2009. It has extensive updates and includes a new chapter on bear market investing (Chapter 4). In all, the paperback edition has the following 8 chapters:
Chapter 1 - Decoding Wall Street's Well-Kept Secrets
Chapter 2 - Understanding Wall Street's Misleading Practices
Chapter 3 - Strategies in Quest of the Ideal Investment
Chapter 4 - Investment Strategies to Survive in a Bear Market
Chapter 5 - Evaluating Companies as Investment Candidates
Chapter 6 - Executive Traits Are a Revealing Investment Gauge
Chapter 7 - How Street Analysts Really Operate
Chapter 8 - Reforming Research to Level the Playing Field
The main point discussed throughout the book is that individual investors should be careful and not trust the Wall Street research. Individual retail investors are an after-thought for research analysts, brokers, and corporate executives who are all primarily interested in professional institutional investors such as pension funds, mutual funds, and hedge funds. According to the author, stock picking is not the analyst's job, and individual investors should not blindly trust the buy/sell recommendations of the analysts as these recommendations are unreliable and often late. As per the author, while the analysts may be good at providing thorough, informative company and research information, their buy/sell rating record is mediocre. Much of the book is devoted to the discussion of these points, and at times, feels repetitive.
What I like about the book?
If you want to know how Wall Streets and analysts operate, this book is it. The book claims to be geared towards individual investors. However, it is better suited for research analysts, and discusses topics like research conflicts, analyst conferences, reading corporate executives' body language, and so forth. For example, Chapter 6 - Executive Traits Are a Revealing Investment Gauge, discusses at length the various types and traits of corporate executives so that you know whether they are being truthful or just hyping the prospects of their companies. However, this chapter is better suited for research analysts since they are the ones who come in direct contact with the corporate executives. Most individual investors will only have indirect and occasional contact with the corporate executives via conference calls, and interviews in media.
That said, most individual investors will like going through chapters 3 and 5 which are the best part of this book. These two chapters focus on important rules about investing. The list of strategies/rules is fairly comprehensive, very useful and informative, and worth reading. Some of the important points discussed in this chapter are:
- Protect your capital
- Own only few stocks and invest for the long term in dividend-paying stocks of financially strong firms
- Pursue healthy, stable or expanding profit margins
- Avoid IPOs and turn-around plays
- Prefer smaller firms over bigger ones
- Avoid firms with weird stock structures or sweetheart management setups
- Look for steady expansion of revenues, not just profits
What I dislike about the book?
As mentioned earlier, except for couple of chapters, this book does not provide much new information for becoming a better investor. The fact that individual investors should not naively buy into the advice of Wall Street feels overly repetitive by the end of the book (as it does also probably in this review).
Final Word
Overall, Full of Bull is an ordinary book from the perspective of experienced individual investors. The book does have a couple of useful chapters which discuss many strategies that are especially useful for novice investors
Interview with the author
I have received complimentary copy of the book. Please also see Disclosures and DisclaimerLabels: book, book quote, books, quotes, rev, WQ |
| posted by Little Rishi @ Wednesday, June 30, 2010
|
|
|
|
| Saturday, June 26, 2010 |
| Weekend Quote from a Book - Bouncing Back |
The human spirit—the force we all possess that drives us to live extraordinary lives, to overcome adversity and get back to having fun—is hard to deny. It is a time-tested universal truth that human beings bounce back. And when we do, we usually bounce back stronger and happier and more grounded than when we first fell down.
This happened in the Great Depression and it will happen again. We will learn once more the truth of the phrase “This too shall pass.”
But this doesn’t mean you can just sit back and wait for things to get better. The other great truth is that how fast you bounce back depends on how well you prepare yourself to bounce back.
This is your chance to start over and to start stronger. It is your ultimate opportunity to hit the reset button on your life, both personally and financially. Don’t let it pass you by.
Source: Start Over, Finish Rich: 10 Steps to Get You Back on Track in 2010
by David Bach
Please also see Disclosures and DisclaimerLabels: book, book quote, books, quotes, WQ |
| posted by Little Rishi @ Saturday, June 26, 2010
|
|
|
|
| Saturday, June 19, 2010 |
| Weekend Quote from a Book - Latte Factor |
Whenever I talk about the Latte Factor, someone always objects that they don’t drink coffee and would never waste the money Kim did buying nonfat muffins and power bars. But that misses the point. What we’re talking about here isn’t just lattes. What we’re talking about is that we don’t realize how much we spend on little things and how, if we thought about it and changed our habits just a little, we could change our destiny.
Source: Start Over, Finish Rich: 10 Steps to Get You Back on Track in 2010
by David Bach
I am a Amazon.com affiliate. Please also see Disclosures and DisclaimerLabels: book, book quote, books, quotes, WQ |
| posted by Little Rishi @ Saturday, June 19, 2010
|
|
|
|
| Saturday, June 12, 2010 |
| Weekend Quote from a Book - Trade Conviction |
  Soros dropped in on him (Stanley Druckenmiller, money manager who worked with Soros at the Quantum fund) in his office and discussed the trade.
'How big a position do you have?' he asked.
'One billion dollars' Druckenmiller answered.
'You call that a position?' Soros asked derisively. . .
Soros suggested that Druckenmiller double his position. He did. And just as Soros had predicted, even more profits poured into Quantum.
'Soros has taught me,' noted Druckenmiller, 'that when you have tremendous conviction on a trade, you have to go for the jugular.
- Source: Soros: The Life, Ideas, and Impact of the World's Most Influential Investor
by Robert Slater
Please also see Disclosures and DisclaimerLabels: book, book quote, books, quotes, WQ |
| posted by Little Rishi @ Saturday, June 12, 2010
|
|
|
|
| Saturday, June 5, 2010 |
| Weekend Quote from a Book - Credit Card Debt |
Credit card debt is seductive. It’s all too easy to ease onto the slippery slope — and slide down into overwhelming debts. You never — well, almost never — get asked to pay off your debt. The bank will “graciously” allow you to make low monthly payments. Easy. Far too easy! Your obligations continue to accumulate and accumulate until you get The Letter, saying you have borrowed too much, your interest rate is being increased, and you are required to switch, somehow, from money going to you to money going from you to the bank. You are not just in debt, you are in trouble. If you don ’ t do what the bank now says you must do, legal action will be taken. Be advised! Never, never, never use credit card debt.
- Source: The Elements of Investing
by Burton G. Malkiel & Charles D. Ellis
Please also see Disclosures and DisclaimerLabels: book, book quote, books, quotes, WQ |
| posted by Little Rishi @ Saturday, June 05, 2010
|
|
|
|
| Saturday, May 29, 2010 |
| Weekend Quote from a Book - The Five Laws Of Gold |
The Five Laws Of Gold
1. Gold cometh gladly and in increasing quantity to any man who will put by not less than one-tenth of his earnings to create an estate for his future and that of his family.
2. Gold labored diligently and contentedly for the wise owner who finds for it profitable employment, multiplying even as the flocks of the field.
3. Gold clines to the protection of the cautious owner who invests it under the advice of wise men in its handling.
4. Gold slipped away from the man who invests it in businesses or purposes with which he is not familiar or which are not approved by those skilled in its keeping.
5. Gold flees the man who would force it to impossible earnings or who followeth the advice of tricksters and schemers or who trusts it to his own inexperience and romantic desires in investment.
Source: The Richest Man in Babylon
by George S. Clason
Please see Disclosures and DisclaimerLabels: book, book quote, books, quotes, WQ |
| posted by Little Rishi @ Saturday, May 29, 2010
|
|
|
|
| Friday, May 28, 2010 |
| Book Review - The Gospel of Roth |
  The Roth Bible or Everything You Want to Know About Roth - these can be two other appropriate titles for The Gospel of Roth: The Good News About Roth IRA Conversions and How They Can Make You Money by Roth by John D. Bledsoe. The Gospel of Roth is an excellent book on Roth IRA conversions. Virtually all the questions you can think of regarding Roth IRA conversions, are answered in this book.
About the Author
The book is written by John D. Bledsoe who is a financial advisor and estate planner with over 20 years of experience. He is also the owner of John Bledsoe Associates, which is a life insurance brokerage specializing in estate planning. He has written over 1,000 financial articles and has authored three additional books, Rock Solid Estate Planning, Texas Living Trust, and Roth to Riches. He is currently working on his fifth book, One Turn Away.
About the Book
The Gospel of Roth consists of 244 pages and the following ten chapters:
Chapter 1 - The Roth Conversion Option
Chapter 2 - In the Beginning Congress Created the IRA
Chapter 3 - The Advent of the Roth IRA
Chapter 4 - Roth IRA Math
Chapter 5 - Our Income Tax Structure
Chapter 6 - The Stretch IRA Hoax
Chapter 7 - Estate Planning and the IRA
Chapter 8 - What Could Go Wrong?
Chapter 9 - Tips and Tricks: The Reason to Roth
Chapter 10 - Questions and Answers
In addition, the book contains many appendices related to Roth IRA conversion mistakes and other topics.
The central idea of this book is that you should convert your traditional IRA and retirement plans to Roth IRA as soon as possible. Starting January 4, 2010, anyone can convert to Roth regardless of their income levels. According to the author, the conversion could increase your retirement spendable assets by over 40 percent! The author believes that most people are wasting time going through calculators and other computations in deciding whether to do the conversion or not. Instead, he recommends the "Ready, Fire and Aim" approach - do the conversion as early as possible during 2010 and then decide later whether you will come out ahead or not. Why? Because you can always undo the process by recharacterizing your conversion. He calls this the "Roth Conversion Option" (RCO) - do the conversion first and then run the numbers.
For the 2010 conversion, the recharacterization deadline is October 17, 2011. By that time, you will be able to know the tax rates for 2011, the performance of your converted Roth IRA accounts, and other important information which will help you make an informed decision on whether to stick with the conversion or undo it using recharacterization. Good thing about conversions in 2010 (only) is that you can choose to defer income taxes to 2011 and 2012 by recognizing half the income from the 2010 conversion in 2011 and the other half in 2012. Of course, if the tax rates increase in 2011, you can always choose to pay taxes in 2010 itself. Again, according to the author, you have until October 17, 2011 to commit to which year(s) you elect for paying taxes for the 2010 Roth conversions.
When doing the conversion, the author recommends that you follow certain strategies to make the recharacterization easier. For example, he recommends that:
1. Convert all traditional IRAs and retirement plans into separate new Roth IRAs divided by asset class. Do not combine the newly converted money with older Roth IRA accounts.
2. Have separate Roth IRA account for each retirement plan, with no single accounting exceeding 20% of the total. If the 20% limit will be exceeded, divide it into two or more Roth IRA accounts.
3. You don't need to convert all your traditional IRAs and retirement plans in the same year. It may be more efficient to convert over a few years to maximize the use of lower brackets.
4. Convert as early as possible in 2010 - the earliest date is January 4, 2010. Then around December 3, 2010, recharacterize or unconvert any Roth accounts that have lost substantial value since Jan 2010 conversion, and convert again to Roth on Jan 3, 2011 to start the RCO on them for 2011. You pay balance of 2010 tax by April 15, 2011 and add payment for 2010 for the 2010 Roth conversion to preserve penalty-free option for 2010 rates till October 17, 2011. You then analyze your situation over the Sept - October 15, 2011 period and unconvert/recharacterize any 2010 Roth IRA accounts that need to be unconverted to regular IRAs.
The book is filled with many of the benefits of Roth IRA, including protection from future tax increases as well as being better from the estate tax perspective. The book also provides many things that can go wrong with the Roth conversion such as forgetting to unconvert, ignoring state income taxes, not converting into separate new Roth accounts, Congress imposing tax on Roth IRAs in future, and so forth.
What I like about the book?
This is a great book which recommends an unconventional but more practical (although requiring a bit more work), business approach to deciding whether to stick with Roth conversion. The author debunks many of the myths that we come across in the media and provides his unique take on the conversion process. The book is an easy read and is filled with tons of questions and answers, making this book a valuable resource on Roth IRA conversions.
What I dislike about the book?
I don't have much to say in terms of not liking the book. The book is focused on a niche topic and covers it in extensive detail. At times, this makes the book a bit repetitive. However, I liked the repetition as it kept reinforcing the importance of doing the reconversion and the steps involved in maximizing the benefits of conversion.
Final Word
This is an excellent book on Roth IRA conversions. If you have money in traditional IRAs and retirement plans and want to learn the benefits of doing the Roth conversion, you will find this book to be an excellent resource. Many of the recommendations that the author makes may not even be familiar to many financial planners and CPAs.
I have received complimentary copy of the book. Please also see Disclosures and DisclaimerLabels: book, book quote, books, quotes, rev, WQ |
| posted by Little Rishi @ Friday, May 28, 2010
|
|
|
|
| Saturday, May 22, 2010 |
| Weekend Quote from a Book - Linear versus Residual Income |
  Linear income usually comes in the form of a salary-working for someone else. You rent yourself out to some employer, usually on an hourly basis. One unit of your time yields one unit of money—X number of dollars per hour. We call this type of money linear income because you only get paid once for every hour you work. If you want some more linear income, you need to put in another hour of work. If you stop working, the stream of money also stops.
Residual income usually comes in the form of profits—earned when your money is invested wisely. Instead of renting yourself out to some employer, the goal is for you to rent out your money to do the work for you.
The power of residual income is that you get paid multiple times for every hour you work.
Source: Cash in a Flash: Fast Money in Slow Times
by Mark V. Hansen and Robert G. Allen
Please also see Disclosures and DisclaimerLabels: book, book quote, books, quotes, WQ |
| posted by Little Rishi @ Saturday, May 22, 2010
|
|
|
|
| Favorite Quote |
"Work is worship".
- Author Unknown
|
| Disclosure |
This site, including blog posts, may contain reviews, links, banners, text and other forms of advertisements for
products, services, courses, and so
forth of companies of which we may be an affiliate member or for which we may get paid for referrals. This site may also
contain blog posts for which we
are paid, as well as blog posts regarding products or services of companies from which we may have received complimentary
products or services.
|
| Reward Surveys/Panels/Shopping/Contests |
|
Job Search site |
Indeed Jobs
Yahoo! HotJobs - Job Postings
Monster
CareerBuilder
|
Credit Cards |
|
|
| Insurance |
Health: eHealthInsurance
|
| Travel |
|
|
| Phone Service |
|
|
| Investing |
|
|
Questrade
|
|
|
|
Babysitters |
|
| Previous Posts |
|
| Archives |
|
|
| Disclaimers, Privacy Policy, and Disclosures |
Disclaimer
Privacy Policy
Disclosures
|
| Subscribe to Blog Posts |
Bookmark this blog site |
| Contact Me |
Email
|
|
|
