Category Finances

Smart Mom, Rich Mom

Product DetailsSmart Mom, Rich Mom: How to Build Wealth While Raising a Family
by Kimberly Palmer
AMACOM
Retail Price:  $14.95
Amazon Price:  $6.94

Book Description:   Of all life’s financial shocks, few compare to bringing home an infant. Just one tiny person costs $250,000 to raise– not including college! How will you pay for it? That agonizing question fuels mothers’ choices about their careers, budgets, and families. Some lean in, some scale back or seek new opportunities–there are no easy answers . . . but lots of rewarding possibilities. “Smart Mom, Rich Mom” explores how women today are navigating the financially challenging career/parenting years. Written by a national money columnist and mom of two, the book chronicles people who have stayed in the game–full-time, freelance, self-employed, and more–and emerged more prosperous and empowered. “Smart Mom, Rich Mom” mines their experiences to uncover both career advice and spending and savings strategies that everyone can use. Stories, checklists, action steps, planning tools, and more explain how to:

– Prepare financially for parenthood–whether you’re expecting your first child or your third

– Balance thrift with generating income and investing wisely

– Find flexibility at work while safeguarding your earning potential

– Save for both college and retirement despite increased expenses

– Plan for unexpected events, like a layoff or illness

– And much more

Kids change our lives, adding joy but draining bank accounts. “Smart Mom, Rich Mom” helps you adopt healthy habits–and make hard decisions–that pay off in abundance.

Review

This is a fantastic book for mom’s who not only want to stay in the game, but make the best financial decisions for their family.  While I am an “empty nester”, I lead a group of entrepreneurial women in a monthly class. Most of them are young mom’s trying their best to take care of their kids and still contribute financially to their household.  I purchased this book for them to read and was very pleased with it.  I wish I had this advice when I was a young mom. It’s direct, applicable and gives practical advice for mothers on how to be smart about money. Thrift is the best use of all your resources — including money AND time — so mommy savings tips need to expand from coupon-clipping and into longer-term investments.  Moms can feel overwhelmed thinking about and planning for the future, but the author makes it “doable” by sharing her own experience, while also drawing on others’ stories.  The best part is that you can walk away from this book with clear ideas about how to take better ownership of your family’s finances. This is  must-read for women, mom’s and mom’s-to-be and even an old timer like me found so much to learn!

~Reviewed by Allie B.

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    The Lazy Fundamental Analyst

    The Lazy Fundamental Analyst: Applying Quantitative Techniques to Fundamental Stock Analysis

    The Lazy Fundamental Analyst
    by Fred Piard
    Harriman House
    Retail Price $34.00
    Amazon Price: $23.75

    Book Description:  This is a simple, quick and effective approach to quantitative fundamental analysis. The Lazy Fundamental Analyst presents a collection of strategies based on the application of quantitative analysis to fundamentals-based investing. It will appeal to anyone looking for simple, effective and low-risk investing strategies. The strategies are organised by ten business sectors: Consumer Discretionary, Consumer Staples, Energy, Financials, Health Care, Industrials, Information Technology, Materials, Telecommunication Service and Utilities. For each sector a strategy is proposed for large capitalisations (companies in the S&P 500 Index) and another is given for small capitalisations (companies in the Russell 2000 index). For each sector, and each strategy, Fred Piard explains how to follow his ‘lazy’ approach to choose stocks by using only a couple of financial ratios. The strategies eschew detailed due diligence of companies and markets – instead they rely on applying quantitative techniques to filter out the best investments in each sector. These strategies can be managed in just a few minutes per month, making them suitable for those who only have limited time to devote to investing but still wish to have a winning return. Portfolio protection through the use of market timing and hedging is also presented and this can be used with any of the strategies. If you don’t have the inclination for in-depth fundamental analysis, or only have a few spare minutes per month for your investing, try Fred Piard’s lazy approach to quantitative analysis.

     

    Review

    Quantitative fundamental analysis is a business or financial analysis technique that seeks to understand behavior by using complex mathematical and statistical modeling, measurement and research. It can be done for a number of reasons such as measurement, performance evaluation or valuation of a financial instrument. It can also be used to predict real world events such as changes in a share price.  In this book author Fred Piard makes quantitative fundamental analysis easy.  He provides a logical, methodical, and systematic approach to investing for self-directed, risk-oriented investor.  This is a book to keep in your library and refer to often.

    ~Reviewed by Kyle P.

     

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      Excess Returns

      Excess Returns: A Comparative Study of the Methods of the World's Greatest Investors

      Excess Returns
      by Frederik Vanhaverbeke
      Harriman House
      Retail Price $58.45
      Amazon Price: $43.15

      Book Description:  An analysis of the investment approach of the world’s top investors, showing how to achieve market-beating returns. It is possible to beat the market. Taking this as a starting point, Excess Returns sets out to explore how exactly the most famous investors in the world have done it, year after year, sometimes by huge margins. Excess Returns is not a superficial survey of what investors have said about what they do. Rather, Frederik Vanhaverbeke applies a forensic analysis to hundreds of books, articles, letters and speeches made by dozens of top investors over the last century and synthesises his findings into a definitive blueprint of how exactly these investment legends have gone about their work. Among the legends whose work has been studied are Anthony Bolton, David Bonderman, Warren Buffett, Philip Carret, David Einhorn, Benjamin Graham, Joel Greenblatt, Seth Klarman, Peter Lynch, Jim Rogers, Walter Schloss, George Soros, John Templeton and many more. Among the revealing insights, you will learn of the striking similarities in the craft of great investors, crucial subtleties in their methods that are ignored by many, and the unconscious errors investors commonly make and how these are counter to successful investing. Special attention is given to two often overlooked areas: effective investment philosophy and investment intelligence. The investing essentials covered include: finding bargain shares; making a quantitative and qualitative business analysis; valuation methods; investing throughout the business cycle; timing buy and sell decisions; and much, much more! Excess Returns is full of timeless and practical insights, presented in a unique style, to help investors focus on the most promising opportunities and lead the way to beating the market.

      Review

      This is a fantastic book for both new and seasoned investors alike.  The author gives you a glimpse into the mind and strategies of the “big boys” of investing, handing you over a map to follow as you invest on your own.  He also summarizes the process of fundamental analysis and valuation in everyday language which is helpful.  While he writes in broad strokes, Vanhaverbeke gives you a very good foundation that you can use as you continue to study this field and apply what you learn.  It is an excellent resource.

      ~Reviewed by Chet L.

       

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        Pragmatic Capitalism

        Pragmatic Capitalism
        By Cullen Roche
        Palgrave Macmillan
        Retail Price $28.00
        Amazon Price: $20.32

        Book Description: 

        Being successful in the modern world of finance requires a more in-depth understanding of our global economies on a macro level. What does a shifting demographic cycle mean? How does the explosive growth of emerging markets matter? Why does the world’s population affect my portfolio? Does the global monetary system impact my results this year? How does government intervention in markets impact my strategy? In Pragmatic Capitalism, Cullen Roche explores how our global economy works and why it is more important now than ever for investors to understand macroeconomics. Cullen Roche combines his expertise in global macro portfolio management, quantitative risk management, behavioral finance, and monetary theory to explain to readers how macroeconomics works, and provides insights and suggestions for getting the most out of their investment strategies. This book will uncover market myths and explain the rise of macroeconomics and why it impacts the readers’ portfolio construction. Pragmatic Capitalism is a must for any sophisticated investor who wants to make the most of their portfolio.

        Review

         

        While this is essentially an investment book, the author also covers a wide variety of topics giving the reader a broader look at economics and finance.  He has a unique view of investing and lays out many good lessons for those willing to listen and learn.  If you are a novice, you might want to start somewhere else, but this book is great for someone with a finance or economics background.   Once started, I couldn’t put it down and I’m now rereading it. I have found the author’s outlook and advice invaluable.

        ~Reviewed by Rich W.

         

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          America’s Fiscal Constitution

          America’s Fiscal Constitution
          By Bill White
          Public Affairs
          Retail Price $35.00
          Amazon Price: $25.37

          Book Description: 

          America’s Fiscal Constitution: Its Triumph and Collapse (PublicAffairs, April 1, 2014) tells the remarkable story of federal leaders who imposed clear limits on the use of federal debt. For almost two centuries those limits allowed the federal government to borrow for only four purposes. That traditional fiscal constitution collapsed in 2001, when federal elected officials broke the traditional link between federal tax and spending policies. For the first time in history, the federal government cut taxes during war, funded permanent new programs entirely with debt, and became dependent on foreign creditors.
          With insights gained from original scholarship and an unusual breadth of experience in finance and government, Bill White distills practical lessons from the nation’s five previous spikes in debt. America’s Fiscal Constitution is an entertaining and objective guide for people trying to make sense of the current and most dangerous debt crisis

          Review

          This is a great taking a look at the state of America’s financial affairs.  The author comes at the topic from a historical perspective on what has worked, what will work and what, in his opinion, won’t work.  He clearly defines when debt is necessary and how to justify and pay back in a systematic fashion.  While White doesn’t point fingers, he aptly defines a thorough history (that we need to pay attention to) on what does work when applying basic sound economic principles.  As a nation, we need to take notice.  The book is written in an exceptionally clear and lively way, making it an interesting read.  I cannot recall a book in this or any related genre that used the active voice so predominantly.

          ~Reviewed by Dennis V.

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