Fund-of-funds Books

The Politics Of Public Fund Investing: How To Modify Wall Street To Fit Main Street by Ben Finkelstein (Senior Managing Director of Public Funds for Stanford Group Company) is a guide written especially for public fund managers directing fixed-income portfolios, all the while balancing political/ethical considerations with economic/financial ones. Chapters cover how to optimize income and minimize risk; how to align one's portfolio so that it does not violate one's politics; how to profit from losses; callable securities and public fund analytics; and much more. A glossary and index round out this no-nonsense guide especially recommended for novice to intermediate investors.

This is a one-of-a-kind book for individuals who manage investment portfolios for state and local governments. Ben's insight on the vast difference between "Main Street" portfolio management and Wall Street way is right on the mark. The book helps government investment professionals communicate important information to their governing boards. It conveys that the return of principal is more important than the return on principal. This is a must read for the thousands of government treasury professionals.

Although I admittedly lack a career in politics or a keen understanding of investment strategy, I found this book surprisingly compelling, readable, and relevant. Irrespective of one's professional affiliations, Mr. Finkelstein's revolutionary ideas are highly pertinent to all voters and thoughtful individuals seeking to gain a clearer understanding of how their tax dollars are managed and invested. I highly recommend this book, The Politics of Public Funds.

I've given a bunch of books to my uncle. He's not getting this one. This is a keeper. Following is a blurb from the copyright page that I thought important:
"The cuneiform inscription that appears in the logo and serves as a design element in all Liberty Fund books is the earliest-known written appearance of the word "freedom" (amagi), or "liberty." It is taken from a clay document written about 2300 B.C. in the Sumerian city-state of Lagash."
It's a classic book because the cover pages are larger than the pages. Paperbacks are never creative like that. I went straight here to put 2 other Liberty Fund books on my wish list. I'm aware of Regnery Press but they're the corporate/fascist alternative to Liberty Fund.

The trouble started in WWI. America or the U.S. thanks to Woodrow Wilson, took an evangelical approach to foreign policy. The writer speaks of "the Great Myth." Nationalism coupled with righteousness that comes directly from the puritans who believed the new world was the city on a hill, and the new israel.
"where the church had been for so long the most widely accepted institutional base for reform of society, a constantly increasing number of social scientists, philosophers, and critics, in the 1920's and now, put full emphasis on the national state."
He includes that it was rousseau who came up with the idea of beaurocracy pushing the citizenry forward into sophistication. America just took it to new levels. New levels that cannot last in my opinion.

Commemorating, so to speak, the 200th anniversary of the ratification of the U.S. Constitution, Robert Nisbet (1913-1996) asked what would strike the founders as the major surprises from the time of the founding to today. According to Nisbet, these are: the importance of war for America; the growth of government; and the "loose" (rootless) individual.

Nibset analyzes these changes from 1914-1989, providing a rapid historical and sociological overview of that time period. In discussing the growth of government, Nisbet shows that Burnham was correct that the U.S. government was in fact taken over by the "managerial elite" at the time of Wilson. America has adopted a Wilsonian foreign policy that has far outlasted any usefulness it may have had in the cold war. Nisbet is quite prescient in his prediction that this foreign policy would outlast the fall of Communism. "Take away the Soviet Union as a crucial, and . . . content of some kind will expand to relentlessly fill the time and space left." [p. 29.] This describes the motivation for the neocon New World Order perfectly.

I generally agree with Nisbet and found this working provoking. I don't quite understand why Nisbet was so hostile to Reagan; although Reagan wasn't the conservative or libertarian some hoped him to be. For example, Nisbet isn't correct in asserting that Reagan did not want "mandatory" prayer in the public schools, nor do I understand Nisbet's assertion that SDI was "utopian."

It seems to be a fairly well-kept secret, especially from the self-insulated intelligentsia, but some of the most cogent 20th century critics of political chicanery, martial foolishness and cultural excess have been traditional ( as opposed to "neo" ) conservatives like T.S. Eliot, Richard Weaver and Russell Kirk, whose work is both considered in its reflective power and fiercely independent of what many assume (falsely) are virtual cognate "identifiers" (conservatism = big business + GOP ). The late and widely esteemed social theorist Robert Nisbet (1915-96) was a member of a small but august group, writing many well-received books: one of his last, "THE PRESENT AGE" (1988) is particularly apposite, offering as it does a critique of (in the words of his subtitle) "progress and anarchy in modern America".

Nisbet's analysis begins with that period of America's history that amounted to a sea change in governmental policy: President Woodrow Wilson's administration and America's entry into the hostilities of The Great War ( WW I ). As Nisbet writes in the first chapter:

"...the [ American ] people participated widely in a revolutionary upsurge of patriotism and of consecration to the improvement of the world in the very process of making `the world safe for democracy', as the moralistic President Wilson put it ..."


In the same chapter Nisbet makes a number of provocative comments on what he terms "the prevalence of war":


"...War is a tried and true specific when a people's moral values become stale and flat. It can be a productive crucible for the remaking of key moral meanings and the strengthening of the sinews of society ..."

***

"...All wars of any appreciable length have a secularizing effect upon engaged societies, a diminution of the authority of old religious and moral values and a parallel elevation of new utilitarian, hedonistic, or pragmatic values. Wars, to be successfully fought, demand a reduction in the taboos regarding life, dignity, property, family, and religion ... there must be nothing of merely moral nature left standing between the fighting forces and victory; not even, or especially, taboos on sexual encounters ... military, or at least war-born, relationships among individuals tend to supercede relationships of family, parish, and ordinary walks of life. Ideas of chastity, modesty, decorum, respectability change quickly in wartime ..."

***

"...in sum, in culture, as in politics, economics, social behavior, and the psychological recesses of America, the Great War was the occasion of the birth of modernity in the United States ..."

***

Nisbet goes on to describe ( and excoriate ) what he calls "The Great Myth" of American exceptionalism: the "Can Do", `Know How" and "No Fault" canards which accompanied such follies as Korea, Vietnam and (one can safely add ), Iraq. Consider the following:

"...The single most powerful cause of the present size and the worldwide deployment of the military establishment is the moralization of foreign policy and military ventures that has been deeply ingrained, especially in the minds of presidents, for a long time ... the staying power of the Puritan image of America as a `city on a hill' was considerable throughout the 18th and 19th centuries. American the Redeemer Nation was very much a presence in the minds of a great many Americans. American `exceptionalism' began in the conviction that God had created one truly free and democratic nation on earth and that it was to the best interests of all other nations to study America and learn from her ..."


What may surprise those on the Left with slight knowledge of history (a deficiency certainly endemic in modern America ) is how these debacles were set into motion as a direct consequence of policies carried out by "progressives", figures that are commonly claimed as part of the left-liberal heritage. Nisbet comments:


" .. thus the birth of 20th century moralism in foreign policy and war. From Wilson's day to ours the embedded purpose- sometimes articulated in words, more often not- of American foreign policy, under Democrats and Republicans alike oftentimes, has boiled down to America-on-a-permanent-Mission: a mission to make the rest of the world a little more like America the Beautiful. Plant a little `democracy' here and tomorrow a little `liberalism' there, not hesitating once in a while to add a pinch of American-style social democracy ..."


As Nisbet demonstrates, the *Great Myth* is a form of collective delirium, goading us in both our personal lives and our roles as citizens, to fall prey to hubristic delusions of grandeur, all the while overlooking the ugly and all too real elements of pride and conceit of which this myth is almost wholly comprised. Whether through the uniformly heretical forms of Christian belief ( "Religious Right" ), the nihilistic forms of self-deification and narcissism ( "Revolutionary Left" ) or the cynical strategies employed by amoral Machiavellians manipulating *all* groups, one theme holds as predominant: a sense of self-righteousness allied to political power is a very certain recipe for calamity. No, we are certainly not free from the "present age" Nisbet has so cogently ( if lamentably ) analyzed.

I took a grant writing class in college and this was one of the textbooks used. It's a good resource. It gives samples of different types of proposals, tells you how to write them, and also gives a list of resources. Pretty much a self-teaching book, you don't really need a class to use it.

This book offers specific examples, models, and step-by-step instructions on how to write all kinds of grants, from local and federal government programs to grants from private foundations and corporations. More than 300 Web sites are described, as is the use of search engines to develop better proposals. The authors also present scores of concrete writing examples and time-saving tips from successful grantseekers. (summary by South Texas Library System)
The author, Miner, has an online newsletter (Grantseeker Tips) as well, that I've subscribed to for years. Her advice is very practical and to the point. You can't go wrong with this book to guide you.

The general advice provided in this book is invaluable. After reading it cover to cover, I still revisit the main sections every time before writing an important grant. There are key bits of knowledge provided that will serve you well, and like EB White's "Elements of Style," Miner and Miner can be recommended without hesitation. Finally, this book is much more useful than both the "Dummies" grant writing book and "Foundation Center" guide.

Probably the finest tribute to this book comes from Mortimer J.Adler, who, in the addendum to "The Time of Our Lives", and repeated in "Desires, Right and Wrong", gives Mr Veatch credit for writing the only common sense interpretation of Aristotle's Nichomean Ethics in modern times. In easy to read, entertaining fashion, Veatch makes Aristotle, as it applies to today's world, as clear and simple to follow as though you had Adler [or Veatch] at your side to coach you. He presents Aristotle's guideline to finding the way to a good life well lived that is easy to grasp, and easy to adopt. How to make a genuinely good life for one's self was never more appealingly examined.

The ancient Greek aphorism, "The unexamined life is not worth living" is attributed to Socrates, but Aristotle worked out its meaning in his book "Nicomachean Ethics." More than 2,300 years later, American philosopher Henry Veatch revives Aristotle's ethics of rational man to show that we can lead moral and intellectually virtuous lives.

Veatch argues that a virtuous life is possible because self-reflective individuals can use reason to inform the conduct of their lives. Reason is more than the sum of practical or professional knowledge. Reason is that self-aware, critical gaze that moves us to make the proper choices in our conduct. In any situation, if our choices are wise and intelligent, then we will have acted virtuously, which is the natural end or purpose of our development.

Veatch centers his ethics in the person, with an eye toward crowning reason as the key to an examined, and thus happy life. He asserts that values and facts are not separated in human nature. Our lives are infused with values, and reason turns values into virtues. When applied correctly, rational thinking can lead to the perfection of human nature. When applied to the wrong ends, such as wealth or power, rational thinking can lead to unhealthy or shriveled selves.

The moral virtues--courage, temperance, honesty and self-respect--are real values that are present in human nature and are needed for the good life. Yet, there are no fast and firm rules on how and when to act virtuously. Virtues are the ends to which we should direct our thinking, but the specific situation and issue will determine what the virtuous response should be.

The relationship between moral virtue and intellectual virtue is paradoxical. Our purpose, or aim, is to live virtuously, yet we do not know prima facie what the virtuous course is. Instead, virtue is a potential in all of us that can be realized if we think intelligently on how to conduct our actions.

Veatch argues that other schools of ethics--relativism, utilitarianism, existentialism, and fatalism--miss the mark in describing the relationship between values and fact in human experience. These schools place the source of ethics in various passions or irrational facets of human nature. Relativists come in for an especially withering critique. Veatch points out that Relativism has produced a wide variety of incompatible ethical prescriptions--tolerance, might makes right, conformity, and libertinism. This diversity of prescriptions exists because the relativist school lacks a strong central core.

In some ways, Veatch's critique of other schools of ethics is his most valuable contribution. His goal of reconstituting rational man for the modern (or post-modern) world comes up short. At the end, one is left to wonder if Veatch's sunny views of human nature and rationalism are more of an ideal than a reality. He rebukes the nihilism that underlies existentialism, but does not the cruelty of war, famine, and death mitigate against perfection? In the end, we are all dead, and perfection remains far away. All we are left with is our hopes for things to get better.

Veatch admits that human beings can form notions of "absolute and infinite good." Yet, even with a superbly examined life, illuminated by reason, human beings remain empty at the core, stuck in the interminable fight between what we are versus what we are not. Nevertheless, the school of "practical wisdom" elucidated by Veatch stands out for its optimism and common-sense appeal.

Henry Veatch's RATIONAL MAN is both an introduction to ethics and an introduction to Aristotelian ethics. Although published in 1962, the book remains one of the best introductions to ethics. It's written in non-technical language and contains plenty of examples from literature and life.

Following Aristotle, Veatch develops a theory of ethics broadly within the natural law tradition. Contrary to the skeptical or relativistic approach, man can have ethical knowledge. Ethics is based on human nature and the goal ("end") of man's life determines what is right. For man, that end is "intelligent living" or the "examined life." Veatch disagrees with Aristotle, however, in arguing that a life of contemplation is not ethically superior to intelligence applied to the problems of everyday life.

Along the way, Veatch discusses a number of questions and counterarguments, such as the "is/ought" problem, utilitarianism, whether a belief in moral absolutes leads to intolerance, and the possibility of ethics without God. In a few places I thought Veatch skimmed over objections too lightly (for example, the obvious counterargument that crooks like Goebbels and Stalin were intelligent in their own way), but this is a minor complaint.

The Liberty Fund edition contains a useful introduction by Douglas Rasmussen. Veatch (1911-1999) was an important voice in the twentieth century Aristotelian renaissance and those who know him only through this book will be impressed with his list of publications in most areas of philosophy

Rescue at Engine 32 is one of the most inspiring books I have read in years. Jessica Locke's search to find a way to help Engine 32 firefighters in New York after 9/11 brings about many emotions, ups and downs. My husband and dad are retired Captains from the New Orleans Fire Department (NOFD), my brothers are both Captains of the NOFD, and several cousins as well. I thought that this impacted my emotions brought about when reading it but now that several friends with no connection to any firefighters have read the book, I know different. All were truly inspired and were also very emotional when discussing Rescue at Engine 32. Jessica Locke is truly an amazing woman. I thank her for sharing her life and being such an inspiration. It is hard to believe that we can do just about anything we set our minds to if we just give it a shot. She proved this to be true. I believe she still has more to come. Again, thanks.

This is the story of Jessica Locke's journey to New York City's Ground Zero, where she felt drawn to following the Terrorist attacks of September 11, 2001. She responded the only way she knew how to - as a person who had suffered a great deal of pain in her own life. She could sense the collective pain of the victims that called from the smoky pile at Ground Zero. She knew about pain and suffering from her own past. True, there was little she could do for those murdered except to pay her respects. But there were "other" victims. There were the rescue and recovery workers who had been through a terrible tragedy, yet they would not acknowledge it. They could not. They were in "rescue" mode. Day in and day out. They were in denial. Jessica knew how this event would eventually affect these workers if they were left untreated.

Jessica would rely on her abilities as a practitioner of the Alexander Technique to try to help those that would accept her help. It would be difficult to "help" such strong and capable figures. But she approached them with a great grace, and surprisingly, she would be welcomed into a New York City firehouse during one of the most defining moments in the history of firefighting.

This is a story of unprecedented access given to a special woman who was able to gain the trust of a firehouse recovering from the loss of 343 colleagues, four of who were members of their own firehouse. From shopping with the Company for meals, to eating with them; from going on "runs", to sitting in the kitchen observing the interaction of firehouse culture, Jessica has immortalized what it was like to be inside an FDNY firehouse following the events of 9/11. Jessica has become a part of that big family that is known as "The New York City Fire Department".

Read the book. Enjoy it. Marvel at this "true" story of joys that made her feel like a little girl again, and moments of sorrow that reminded her of what brought her to New York City in the first place.

And how do I know that this is a "true" story? Well, I used to work in the very firehouse in which this story takes place....

Lt. Joseph T. McMahon
FDNY (Ret)

I live in New York and needless to say, I along with my family were profoundly effected by the tragic events of Sept. 11th.

I have a one year-old daughter at home, and started reading this book in the morning over breakfast. Throughout the day I found myself reading more and more and by bedtime the book was finished.

I found this book to be an easy page-turner. The author gracefully goes back and forth between her childhood and the present. As I was reading along, I would find myself in tears one moment and laughing out loud the next. Through her words, I felt the admiration she had and still has for the members of Engine 32. She also has great courage to let us (the reader) into her own personal and intimate past.

This book is so beautifully written that I (as a reader) know for a fact that it came straight from the heart!

Essentially this book is a must read for any believer in freedom. Not your Hindu/Buddhist freedom from attachment but rather the freedom all individuals have (should. in most or all cases) over their faculties and the products of there faculties, obviously so long as this freedom is respected in all other individuals.

As for this books merits, they are so plentiful that it would be easier to discuss it's faults.

However I'll leave that for another person more critical than myself as I hold to the belief that every person would benefit greatly from one reading of this fine work so I have no wish to detract from it.

It's your choice and thats the point.

This book of essays had an effect upon me similar to that of the New Testament. It changed my outlook forever. (By the way, a total change of outlook is the actual meaning of the word 'repent'.)

This volume is an essential collection of the profound works of Auberon Herbert, the fountainhead of "voluntaryism." Herbert took Herbert Spencer's famous law of equal freedom, and extended it to its full extent. As a result, Herbert concluded, as Ayn Rand, Murray Rothbard, et al, have since, that physical force is evil, and that the only legitimate, or at least, acceptable use of force is in defense. Moreover, Herbert concluded that it was illegitimate for *anyone* to utilize force, even government agents. Therefore, all forms of government intervention beyond the basic protection of individual rights is both illegitimate and immoral, including taxation. In fact, he even offers a 29 point case against all taxation in one particular piece. In place of coercive government, Herbert proposed defensive services financed voluntarily, and indeed, this is the only moral method. Throughout the work, one is consistently delighted by Herbert's firm and eloquent advocacy of individualism, rationality, responsibility, and progress. Admirers of Ayn Rand and Objectivism should especially enjoy this work. Above all, Herbert's writings are delightful and often deeply moving pieces of work, and I can only hope that friends of liberty and reason become more acquanted with them in the future.

To Be an Artist is a lovely book that highlights the creative talents of children from around the world. Makes a great gift!

I Love this book! This book is a wonderful addition to any childhood class room, or for children who engage in any type of art. This book shows children from all around the world engaging in all different aspects of art. Art is an important part of every culture. This book really captures just that.

I bought this book for my daughter's 5th birthday. She enjoys a variety of art forms in a variety of mediums yet she did not comprehend the fact that singing, dancing, banging on a drum, creating a collage, exploring play dough, creating a block structure, and "writing" are all forms of art. After reading this multicultural book, she has a better understanding of art. She now understands that art is more than crayons and paint. She now has a better understanding of creative expression across children of many cultures. The book is an "easy read" for parents and teachers yet can foster more in-depth conversations when needed. I will be sharing this book with my daughters preschool teachers.

This is an excellent book on how financial markets work and on why they have become so much more volatile in recent years. It explains how the performance pressures on fund mangers are making markets less efficient and why and how this inefficiency explains recent financial crises and the ups and downs of the stock market. Unlike most economists, Dr. Harmes successfully predicted the collapse of stock prices. He gives a sound explanation for why the Dow, and not just tech stocks, were overvalued and why the current correction and slowdown was so hard to predict - but why it could have been. His explanation builds and expands on Shiller's "Irrational Exuberance" argument and provides useful lessons to help investors in the current period of volatility.

This is an excellent book on how financial markets work and on why they have become so much more volatile in recent years. It explains how the performance pressures on fund mangers are making markets less efficient and why and how this inefficiency explains recent financial crises and the ups and downs of the stock market. Unlike most economists, Dr. Harmes successfully predicted the collapse of stock prices. He gives a sound explanation for why the Dow, and not just tech stocks, were overvalued and why the current correction and slowdown was so hard to predict - but why it could have been. His explanation builds and expands on Shiller's "Irrational Exuberance" argument and provides useful lessons to help investors in the current period of volatility.

This book is not getting the attention it deserves. It is an outstanding book based on Dr. Harmes's PHd thesis from York University. He seems to cover everything: monetary policy, exchange rate fluctuations, capital controls, and herd behaviour. If you have some background in economics even better. Conservatives won't like the arguments but then again conservatives still think markets are 100% efficient!

I looked around for a book to help me write a grant proposal, and found a dizzing array of books that went into more detail than I needed, without giving me a clear idea of where to start. I was thrilled when I found this book, because it is easy to read and understand, straightforward, and took me through the steps one at a time. I always knew where I was at in the process, and what to do next. From looking for funders, to reporting requirements, this little book is crammed with good, helpful information and advice.

This one's the Real-Deal! I found the sections on Research and Words of Wisdom extremely helpful. Not only does this AUTHOR proclaim she actually worked with board of directors and foundations in the grant industry, her techniques really work. I wrote and received the last 3 grant requests I submitted.

Finally, a book that actually guides me right through the whole process! After wasting my money on DOZENS of grant writing books that left me confused and frustrated, this workbook taught me step-by-step everything I need to know. I love the practice worksheets and all the examples! Anyone and everyone could learn from the "Tricks of the Trade" and "Insider's Secrets" chapters. I used this workbook to help me write a grant for our local charity and I GOT IT! Thank you, thank you.

Finally, a book absolutely anyone can understand when deciding how and where to invest. Mr. Dunetz is obviously an intelligent man but is able to speak to the layman as well as the established investor.

I'm glad I read this book before I planned my estate. Finally, a comprehensive and easy to read volume on the subject.

My sister Allison turned me on to this book when I told her of my concern towards protecting my future assets, and am I glad she did. Easy to read information that has already helped me in my quest to protect my sizable fortune obtained after years and years of domestic cat breeding.