Market-prices


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Book reviews for "Market-prices" sorted by average review score:

Secondary Market Price Guide for the Cherished Teddies Collections
Published in Paperback by Rosie Wells Enterprises (June, 1996)
Authors: Rosie Wells and Rosie Wells Enterprises
Amazon base price: $12.95
Used price: $11.27
Average review score:

Great Collectors Guide
I loved this collectors guide because it easily helps you sell, trade and buy Cherished Teddies while making sure you're getting the best deal. I would reccomend this book to anyone who is serious about collecting Cherished Teddies.


Theory of Markets: Trade and Space-Time Patterns of Price Fluctuations. a Study in Analytical Economics
Published in Hardcover by Springer Verlag (March, 1995)
Author: Bertrand M. Roehner
Amazon base price: $147.00
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A "simple" economic problem
It is often said that economics
so far has had less successes
than other sciences, such as for instance physics,
because it has to deal with problems of
greater complexity. However, it seems that economists have
made little effort to rank economic problems according
to their level of complexity.
In this book, from the
very outset, the author selects a question which may
be seen as one of the "simplest" problems in economics.
Why?
Instead of considering the question of
price determination on one market
which depends upon all the numerous factors which
affect demand and supply, the author concentrates his
attention on the RELATIVE price differences between
several (spatially separated) wheat markets.
In such a way, all the factors
affecting demand/supply are so to say brushed aside.
The book first develops a very simple model which
describes the process of spatial arbitrage, that is to say
the decision to buy on a more distant market whenever the
price on that market added to the transport cost is smaller
than the price on nearer markets.
The model is first used to compare prices on only two
markets. Even in this simple form it permits
several predictions which are matched by observation.
In subsequent chapters the model is extended to
the case of N spatially separated markets and this
discloses the existence of a pattern of
prices WAVES hidden behind more of less erratic
price fluctutations due to random exogenous shocks.
Such price waves are indeed observed provided the
data are sufficiently "fine grained" in space as
well as time.
This is an elegant solution to the fundamental
problem of understanding the interactions between
N markets trading in the same commodity.
An incredibly insightful read. Highly recommended.


Tiger Adventure
Published in Mass Market Paperback by Albert Britnell Book Shop (27 September, 1993)
Author: W Price
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This book was the best of the whole "Hal & Roger" series!!
This book is a wonderful book for anyone who wants to learn about wildlife while also reading an intense adventure! I would also recommend all of the other books by Willard Price with Hal & Roger.


Everybody Pays: Two Men, One Murder and the Price of Truth
Published in Mass Market Paperback by Berkley Pub Group (December, 2002)
Authors: Maurice Possley and Rick Kogan
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When Chicago's deadliest hit man, Harry Aleman, was brought to trial in the late 1970s, not a single one of the city's more than 1,000 mob-related murders had been solved. This time, with a witness willing to testify, prosecutors believed they had a foolproof case. But the mob was difficult to catch for more reasons than one--a strict code of silence, witnesses who turned up dead, and cops and even judges under their control. Bob Lowe, the lone witness to the murder Aleman was tried for, learned this the hard way. Aleman was acquitted the first time around, and wasn't retried (and convicted) until 20 years later. Meanwhile, Lowe and his family were forced to go into hiding not once but twice, and their lives were destroyed. Veteran Chicago Tribune writers Maurice Possley and Rick Kogan have written a searing portrayal of the mob's skewed moral universe, the legal system it corrupted, and a witness-protection system riddled with flaws. In this charged and ultimately redemptive story, only one man emerges a hero. --Lesley Reed
Average review score:

Limited geographical appeal
"Everybody Pays" is the tale of two families. One is that of Harry Aleman, a heavy hitter in the Chicago mob. Here in New York City, he'd be called a "capo". The other family is that of one Bob Lowe. The fates of the two families intersected one night in the Fall of 1972 when Bob was an eyewitness to a rubout in his neighborhood. Harry was the hitman. Against his family's judgement, Bob agreed to testify at trial The story that follows is a sad one: Prosecutors are not completely straight with Bob. His family's life in a witness protection program was a disaster. It was painful just reading about it. One can imagine the daily struggle of living through it. The trial of Aleman is a second disaster. He was acquitted in a juryless trial. The judge had been bribed! Therein lies the best part of EP. The sheer cynical nature of the Chicago "justice system" is laid bare with crooked cops, jaded State's Attorneys, judges bought and sold, with shadowy "operators" greasing palms. There was a second arrest of Aleman and yet a new trial. This reviewer will end at this point in the interest of not divulging the ending. The opinion here is that EP will be better received by Midwestern readers. Eastern folks have their own criminals. And while the authors have done first rate research in composing EP, this reviewer was left with a deflated feeling at the conclusion. Others may disagree. Midwest folks and especially those in Chicagoland can safely skip over this review, adding 2 stars to the rating above. They will best appreciate the local "flavor". The rest of the world of amazon is cautioned! An interesting closing note: EP has NO(!)centerfold photos. This reviewer usually advises skipping over them since they frequently divulge endings. It is just as well. Readers will quickly realize that Mr. Lowe will not want his picture displayed anywhere, much less in a popular true crime story.

"...the Price of Truth"
On the night of September 27, 1972, twenty-five year old Bob Lowe was just out walking his dog when he witnessed the brutal murder of his neighbor, Billy Logan. Lowe, an auto mechanic and family man living in a blue-collar neighborhood on Chicago's West Side, came literally face to face with the killer, Harry Aleman, before he jumped into an idling car and sped away. It was a vicious mob hit, plain and simple. Lowe easily identified Aleman, and with the assurance of witness protection, was willing to do his civic duty and testify. As he stubbornly told the police and his frightened family, "I saw what I saw." So began Bob Lowe's twenty-five year odyssey through two murder trials, political corruption and pay-offs, disillusionment with the system, depression, petty crime, alcoholism, and finally vindication, redemption and justice..... Fasten your seatbelts, Maurice Possley and Rick Kogan are about to take you on a very bumpy, suspenseful, and compelling ride through the mean streets of Chicago during the years organized crime had a stranglehold on police, judges, and politicians at the highest levels. This is a fascinating, intricate, and intriguing page-turner, made even more so because it's all true. The writing is crisp, intelligent, and engaging, the scenes vivid and riveting, and the characterizations, brilliant. But it's Possley's and Kogan's indepth, painstaking research and great attention to detail that makes this novel stand out. Everybody Pays: Two Men, One Murder And The Price Of Truth is a spectacular and absorbing story, rich in drama and history, and told with insight, wisdom, and humor. This is a novel that shouldn't be missed and should definitely find a place at the top of every mystery/thriller and true crime fan's MUST READ list.

The Road to Hell
In an ideal world, the witness to a crime would come forward to authorities, police would arrest the bad guy, and a judge would weigh the evidence thoughtfully before handing out the proper punishment to the defendant.
But no one ever mistook Chicago for an ideal world. Mob hit men execute people for transgressions large and small, crooked cops bury the evidence and when the evidence eventually surfaces, crooked judges ignore it and their duty to the law.
This book takes us through the hell that was Bob Lowe's life after he witnessed a mob execution on Chicago's west side. The price this man had to pay for his devotion to doing the right thing is heartwrenching and inexcusable. An incredible story. Possley deserves credit for persuading Lowe (and others) to tell it, and Possley and Kogan lay the story out in a straightforward fashion, without stooping to melodrama or false sentiment. Lowe's adherence to doing the right thing is heroic, but sadly, the stronger message that comes from this book is that doing the right thing is always the best thing, especially when you have to place your trust in an inefficient and corrupt judicial system.


The Cater Street Hangman (Anderson Price Promo)
Published in Mass Market Paperback by Fawcett Books (13 June, 1998)
Author: Anne Perry
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Thundering good read!
I was aware of Anne Perry's historical mysteries and assumed I would not be interested in them since in general I prefer more contemporary mysteries. Then I saw A&E's production of The Cater Street Hangman and was captivated by it. I immediately bought the book and found it to be even better than the TV version - the characters have more depth and the plot is tighter and more credible. Anne Perry has a wonderful knack for creating characters. I feel as though I know (and like) Charlotte Ellison and Thomas Pitt. Charlotte is a wonderful creation: she speaks her mind, almost unheard of in the Victorian well-to-do world she inhabits. Thomas Pitt is an equally interesting creation and seeing the two of them pass beyond instant dislike to attraction and admiration for each other is very entertaining. We SO want them to get together. This is edge-of-the seat stuff which, together with all the wonderful details of life in Victorian London and an intelligent love affair, makes for a thundering good read!

Fantastic introduction to Victorian mystery series
This novel is the first featuring Thomas Pitt and Charlotte (Ellison) Pitt, and set in Victorian London. In some ways, the novel is a standard mystery, with the victims, suspects, police and other interested parties all involved, sometimes to the detriment of the investigation! What makes this novel stand above other contemporary novels set in the Victorian era is the author's obvious knowledge of that era and her attention to detail which makes the reader feel as if s/he has truly glimpsed what it must have been like to live at that time. I also thought that it was critical to spend a significant portion of the novel on the class system in Britain (London society in particular) during the late 1800s. This is more than mere background--it is crucial because the class system determines how the characters act and react to the murders around them, to the investigation, and to eachother.

I also liked the romance which developed between Charlotte Ellison and Thomas Pitt, and found it entirely believable. Anne Perry pulls it off, despite Charlotte and Thomas being from different classes, because she had the foresight to make Charlotte something of a social misfit. She was honest. She said precisely what was on her mind without considering what the listener wanted to hear. She did not accept the double standard of behavior that her family, friends, and neighbors subscribed to (one set of rules for men, another more strigent set of rules for women). She read the newspapers and "unfeminine" books on topics such as military history to the shock and horror of her family and friends. All of these things made her, as her mother put it, "a liability on the marriage market". She would not attract a suitor of her own class (nor of the aristocracy nor gentry). The only option (not spoken of in the novel) is for her to marry down socially, but she also gains far more emotionally from her relationship with Thomas. She has found someone she can love and respect, and who loves and respects her in return. Thomas is also something of a social misfit as well. Anne Perry accomplishes this by making him a member of the servant class by birth, but because he was educated side by side with the Lord of the manor's son, he, too, does not quite "fit" neatly into one class or another. A good example of Thomas being not quite in the class that people expect is how his voice and appearance are described. In the Victorian era, as well as now, voice (and diction) are a good indication of class. Thomas, because of his education, did not sound like a servant or a tradesman (which is how policemen were ranked socially). The development of their relationship was also well done. There is no rush to sexual relations. The dislike that Charlotte and Thomas initially feel for eachother changes to respect, admiration, and finally each acknowledges their love for eachother. It was nice to see how Charlotte came to change her feelings about Thomas. The main characters actually get to know eachother beforehand!

The ending was also a bit of a surprise--the murderer was not the obvious suspect, and the reason for the murders was unexpected. This novel was enjoyable all around. Highly recommended.

An Intriguing Start to a Brilliant Series
Read the Carter Street Hangman and you will find yourself quickly lost in the world of Victorian London. Full of mystery, high society, and murder, this book is intriguing to say the least.

This book is the first book in the popular Charlotte and Thomas Pitt mystery series and will have you running to the bookstore to get the second installement(if not the whole series, like me!) The Carter Street Hangman is a fabulous start to a wonderful collection of crime mysteries.

What I found so refreshing about this book was that fact that it was so calm, so sophisticated. Because of it's Victorian setting there were no gunshots, no foul language or explicit sex scenes. Even though the characters were watching their servants, neighbors and family members die at the hands of a madman, they remain composed and somewhat calm. The high society Ellison family faces these deaths with a sense of purpose as well as dignity.

The romance between Charlotte Ellison and police officer, Thomas Pitt begins to take place in this book, and by the end pages a true partnership is made. The sweet love affair between these two characters lends an enchanting twist to the story.

Historical fiction and mystery lovers, you will find the perfect mix of both genres in this book. Read it and see for yourself.


18 Best Stories by Edgar Allan Poe
Published in Mass Market Paperback by Dell Publishing (15 April, 1965)
Authors: Vincent Price, Chandler Brossard, and Edgar Allan Poe
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The Tell Tale Heart
This collection is a wonderful introduction to the master's works. Poe is perhaps one of the most influential writers America has ever produced. Though known mostly as a critic in his own time, his stories were translated into French by the great French Poet, Charles Baudelaire, and thus his reputation started to spread in Europe, where he had a deep effect on writers such as Dickens and Doestoyevsky. And it's no wonder, since his stories are excellently crafted with many layers of subtle psychological meanings. "The Tell Tale Heart" for instance stands out in my mind as one of the penultimate tales of terror that was ever created by his sometimes feverish imagination. It could almost be read as a confession by a madman in an asylum. Then there's the deeply symbolic tale, "The Mosque of the Red Death." A truly moral tale for a man who had a rep for being a drunkard in his own lifetime. Strange, Hemingway, who drank gallons of booze, is never critiqued for this weakness, but poor Poe has suffered for his malady and is not given his proper place in the curriculum of our universities, though now his works are widely read and are being reassessed. For Poe was indeed a great master and perhaps 200 hundred years ahead of his time.

So read Poe - and you'll be equally horrorfied and entertained forevermore!

One of horror's finest...
For decades people have read, and re-read the works of Edgar Allan Poe--each time leaving the reader to walk away with a chill in the spine, and a deep sense that there are some things in life, however imagined, that are simply terrifying. Poe speaks through the heart of his own woes, his own terror...making his characters breathe life into their stories. Perhaps one of my favorites by this master of the macabre is "The Tell-Tale Heart," a maddening and sometimes angering ride through a deranged mind. This is an historical dance through the dark, perhaps even the most pivotal root in the life and love of the horror story. Poe worked not from the concepts of traditional monsters, but rather stirred the monsters haunting his protagonists...there are few who can lay claim to this level of suspense, drama, or who have ever invoked genuine fear in their readers. Poe does it with cunning, and seeming ease. Highly recommended reading.

Aaron's Corner
Vincent Price and Chandler Brossard do a great job of collecting some of Edgar Allan Poe's finest works, in their story collection 18 Best Stories by Edgar Allan Poe. Edgar Allan Poe's short stories left me in suspense and surprise (it was the first time I ever read Poe literature). I could not put the book down. Since the first time I picked this book up, I've become fascinated with Poe's literature. I can thank Price and Brossard for their wonderful choice in stories, but can mainly thank the writer, Edgar Allan Poe, for bringing such great literature.


Mad Libs: Justice League Mad Libs
Published in Mass Market Paperback by Price Stern Sloan Pub (April, 2004)
Authors: Roger Price and Leonard Stern
Amazon base price: $3.99
For many of us, the adventures of Dorothy in Oz will forever be associated not with Judy Garland singing "Somewhere Over the Rainbow" but with W. W. Denslow's exceedingly odd line drawings for the original editions of Baum's Oz series. The Viennese artist Lisbeth Zwerger, however, goes a long way toward providing a new and refreshed set of images for the Tin Man, the Cowardly Lion, and the humbug wizard. These illustrations are often cockeyed, with occasional realistic details thrown in, like a crow with a corncob in its beak in the first portrait of the Scarecrow. The characters have a poignance and oddity that escaped the makers of the Oz movie.
Average review score:

Please stop the senseless violence!!!
This fictional work of fantasy could have been appropriately titled "In Cold Blood". Lead character Dorothy, an apparent megalomaniac, and her 'gangsta' cohorts -- scarecrow, tin man, toto, and not-so-cowardly lion -- set out in a deliberate and premeditated scheme to kill the "wicked" [alleged] witch of the West (after Dorothy has already admittedly dropped her house on West's sister -- the wicked [alleged] witch of the East, killing her off, stealing her silver shoes, and then killing anything or anybody who gets in their way [sic] -- including the great Kaliddalah beasts and wildcats ...). The senseless violence continues as Dorothy and her "thug" sidekicks are ordered by the Emerald City "Chief" Wizard to perform a "hit" on the wicked [alleged] witch of the West [sic] in exchange for favors from the great and powerful Wizard ... Do today's parents actually condone such random and God-forsaken acts of violence? Do we really need so many senseless killings in children's literature? (Is this book actually endorsed by the Catholic Church to be read by children attending Catolic schools?) Isn't it time we remove this endorsement of randomized violence from our children's schools and libraries? Thank goodness there are some sensible alternatives currently offered in today's world of children's literature. Take the books recently penned and published worldwide by Madonna Ritchie ... The English Roses and Mr. Peabodie's Apples (not to mention soon to be published Yakov and the Seven Thieves [October 2004] and Das Lotsa ****load of Cash [whenever, 2004]). On a scale of 1 to 10, I collectively give Madonna's children's books (with the exception of 1992's Sex ...) seventeen stars, six apples, 4 oranges, 3 bananas, two plums, a blackberry, and a half a cherry ... [you do the math ...] Madonna's red-hot right now ... and you don't need a full page ad in the Wall Street Journal (or half a brain) to figure that out ...

A Great Book
The Wonderful Wizard of Oz is a classical story about a girl and her dog that get trapped in a twister. She wakes up in a magical land and asks how she can get home. They tell her she has to follow the yellow brick road. She meets people on her way to the Wizard. The Scarecrow needs brains, the Tinman needs a heart, the Lion needs courage and Dorothy needs to go home. They meet strange things on the way to The Good Witch of the South. I like the book because it's interesting and exciting and that's why I think you should read it.

A Great Book
This story all started when a farm girl from Kansas named Dorothy Gale, and her little dog Toto got sucked into a tornado and landed in a fairyland named Oz. In Oz she meets a bunch of strange characters, a scarecrow, tin woodsman, and a cowardly lion. Together they go on a mission to see the wizard of oz by following the yellow brick road. Each one wanting a different wish. On the way to the wizard they come across multiple things. And when they finally got to Emerald city the wizard told them that they must first kill the wicked witch of the west if they want him to make there wishes come true. Eventually they succeed in doing that along with multiple hard things to do. After all that they find out that the wizard is a "humbug" and he grants everyone's wishes. Except for Dorothy's wich is for her to return back home. So now Dorothy and her friends go on another adventure to find the Good Witch of the South. Well they found her and Dorothy got back home along with her dog Toto, and she had what she needed all along in order for her to return home. Personally in my opinion I enjoyed the book better then the movie. I would recommend this book to anyone with a good imagination, because I kept imagining the story as I read it. The book has some drawings in it wich makes imagining things a lot easier, it has drawings of the main characters, villains, and some of the scenes in the book such as there journey on the yellow brick road. I would also recommend this book to anyone if the ages of 10 and up.


Clockers / Movie Tie In
Published in Mass Market Paperback by Avon (December, 1993)
Author: Richard Price
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Gritty and Honest Fictional Portrayal Of Drug Dealer's World
Richard Price's "Clockers" is a gritty, honest, brutally realistic portrayal of a young drug dealer trying to go straight, set in a bleak urban landscape of a fictional New Jersey city (In reality it is Jersey City, since Price mentions real streets in his gripping narrative.). Strike, the young dealer, is a mesmerizing protagonist, neither hero or villian, trapped by dire circumstances in his drug-infested, criminal world. Rocco, a delinquent husband and father, is a lackadaisal detective who finds new strength and appreciation for his work after trying to untangle a complex web of clues related to a bloody gangland-style homicide inside a local restaurant suspected of having strong ties to drug dealers such as Strike. Although I am quite impressed with Price's bleak tale, I can award it only four stars since it falls short in literary quality to some of the best work written in a similar vein by the likes of Elmore Leonard, William Gibson and Jonathan Lethem.

Brilliant, an excellent piece of Literature
One the wittiest, darkest, most complex murder mystery since L.A. Confidential (The book a Classic masterpiece, the movie nothing more than good entertainment) Rocco and Strike are perfect players for Richard Prices character study of cops and dealers, the good and the bad, the black and white and the brown who all seem to be misunderstanding eachother rather than truly listening to eachother. Price was able to get me so into the charcters complex persona and agendas that when he uncovers the answer to the mystery I realized that I had become as blind as Rocco firy detective and Strikes mentally confused and conflicted drug dealer. The Clockers are as deadly as they are sad and as angry as they are full of it. (That doesn't include Rodney, Buddha Hat, or Errol Barnes, who all have an evil and dangerous aura that, unlike most hoods, truly is dangerous.) The film was surprisingly faithful to the novel and its message, although I was dissapointed that they took out such charcters as Buddha Hat and Futon and Peanut and Champ and didn't focus on Thumper at all and waited till the end to bring out the rage and fury of Andre until the end of the movie. The book, though, is a classic example of urban tension and decay and depression and hopelessness and the good people who are taken down because of it. But also how an act of mercy can bring hope to the most hopeless clocker and the most burnt out detective.

An unconventional murder mystery with street credibility
Clockers is a murder mystery, complete with suspense and a twist ending, cloaked in an unconventional, raw street setting. The novel possesses more street-smarts than any other book I've read, fiction or not. The dialogue, internally (i.e., in the characters' own heads) and externally, was tough and vibrant, and employed street vernacular which rang credible without sounding clichéd. Many authors tell tales of drug dealers and ghetto crimes, but rare is the account from a drug-dealer's point of view. A troubled, intelligent, calculating drug-dealer, no less, who considers the repercussions of his every move.

All of Clockers' characters were realistically flawed, able to invoke both sympathy and disgust. Strike, the ulcer-stricken dealer, was in constant turmoil as he struggled between trying to earn enough from his illicit trade to get out of it, and attempting to help others avoid being dragged into the same web. Rocco, the homicide detective and delinquent family-man, had a love-hate relationship with his work, and sought a mission through which to justify his continued involvement in the force. Victor (Strike's brother) was an honest, hard working black man who had risen above the allure of the street life around him, but wrestled with his own demons and internal sense of justice. Everyone's paths met with the murder of a lesser character, at which point the cat and mouse game was afoot.

Lesser, but no less interesting plot lines abound: Strike's education of his would-be apprentice, Tyrone; Strike's efforts to free himself from an unhealthily dependent relationship with drug kingpin Rodney; and Rocco's schoolboy interest in being shadowed by a cocksure filmmaker with an interest in a police picture. Also fascinating and seemingly credible were the lessons in police and ghetto-civilian dealings: crooked cops being paid for protection; dealers ratting on one another to escape arrest; and unlikely, yet highly effective, working relationships between cops and dealers born from years of coexistence. Lastly, the issues broached by Clockers are current by today's standards, including AIDS, the questionable efficacy of drug busts, and the shiftlessness of ghetto kids who turn to pushing in the absence of concerned adults.


The Price of Power
Published in Mass Market Paperback by Avon (01 March, 2000)
Author: James Huston
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Huston Scores Another Solid Hit!
James Huston has done what few writers succeed in doing -- creating a sequel that is as good as, if not better than, the original. I would have rated this book "4 1/2 stars" if the Amazon rating system allowed me to.

Like Balance Of Power, The Price Of Power is a political/military thriller that grabs your attention right from the start and never lets go. The action is electrifying, the characters are very well- developed and the dialogue is crisp and realistic. You could almost envision seeing and listening to Bill Clinton in some respects if you try real hard. While 501 pages in length, there isn't one page that you'll be sorry you read.

The Price Of Honor is a book you won't want to miss. But do yourself a favor and read Balance Of Power first. Enjoy them both!

"A Solid Sequel"
James W. Huston does a terrific job handling the fallout from "The Balance of Power." While the first chapter with the kidnapping of an American corporate exec and his wife is written in a rather choppy style, it improves by leaps and bounds after that. The scenes involving Admiral Billings' court-martial are flat out excellent. Huston presents great arguments on both sides. One moment you think Billings will come out OK, the next it appears he has no chance to win. I do wish the impeachment trial of the President was done better. Those scenes were just not as compelling as the Billings court-martial. Again Congressional aide Jim Dillon is a first rate hero. At times he seems over his head, but that first class mind of his is always working to get out of what appear to be no-win situations. The return of the terrorist who calls himself George Washington is a great monkey in the wrench. He's more ruthless in this book than in "Balance." Even with the two problem areas I mentioned, the book overall is a winner.

"Thrilling Page Turner !"
Politics, terrorism, and freedom of religion, is the backdrop for this action-packed, page turner by James W. Huston. I enjoyed "The Price of Power" very much. The characters were believable which kept the court room scenes exciting.


Why Stock Markets Crash : Critical Events in Complex Financial Systems
Published in Hardcover by Princeton Univ Pr (18 November, 2002)
Author: Didier Sornette
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Why Stock Markets Crash
Didier Sornette has written an elegant and penetrating study of the complex elements which contribute to financial booms and their associated busts. Its most important conclusion is that potential crashes are proceeded by statistical “fingerprints”, largely independent of the particular markets involved, which permit their timing to be estimated within narrow limits by mathematical modeling, as demonstrated by numerous examples.

The book attempts two difficult challenges: first to model the potential timings of instabilities conducive to crashes in financial markets, and second to describe both the resulting models and their underlying phenomena intelligibly to the lay reader unfamiliar with much, or even all, of the mathematics involved. I found the author remarkably successful on both counts. The book reads uncommonly well provided one does not get distracted by the inevitable unfamiliarity of some of the mathematical terms, and in support of its main argument presents a wealth of interesting and uncommon information. Importantly, it also reflects a familiarity with the realities of financial markets, typically lacking in academic studies of market phenomena.

This appraisal will not be shared by all readers. If you are a fan of Kramer and Kudlow or prefer information about financial markets in sound bites from CNBC, or if you are looking for specific guidance on how to make money in markets, this book is not written for you. Furthermore, the book contains references to a considerable amount of serious mathematics which is likely to annoy some fraction of its readership. This can be circumvented, as suggested, by simply skimming whatever is unfamiliar. What is missed will have been addressed to a different audience, and not much of relevance will be lost. However, if you are frustrated by (or hostile to) unfamiliar mathematical terms and references, however inessential to the gist of the argument, best give it a pass.

For the rest, this is a deep study of engaging interest which repays more than one reading.

New Insights into Market Dynamics
I highly recommend this book, and it may cost you a whole lot of money if you don't read it. EconoPhysics is (quietly) entering the research departments of Wall Street investment firms, so you may do well to take a look for yourself, and this book is a great place to start. It's a fascinating read on market forces and dynamics, and how it all plays out on its way to the extremes (bubbles & crashes). The author reveals findings of a new approach to market analysis and predictions based on studies of real-life, complex systems, which are modelled by a small number of simple rules, wherein a "critical state" can arise, from which chaos (or order!) spontaneously breaks out. It sounds counter-intuitive, but researchers around the world are successfully applying the emerging science of complex systems over a broad range of interests, and unmasking order (predictable patterns) in what was once thought to be random or intractable data. This book takes you down that path and meets up with a little thing called The Market! The reader is given insight into the apparent vagaries of market dynamics from a fresh perspective, walking you through market models and dynamics that account for "herding" behavior around market extremes, wherein pockets of predictability arise. It's all explained without a whole lot of math -- what's not to like? It's the first time I've had fracals explained in simple terms of dimensions, without bifurcation charts, and discussions of "attractors".

To give you a flavor of the book's perspective, consider what happens during a typical day in the market when all of the momentum players, trend spotters, value hounds and growth seekers meet up with each other via buy and sell orders. Typically, the market doesn't move very much, though billions of trades execute. As the author explains, this is possible only through what may be described as complete chaos. That is (simplifying here), for every person who thinks the price is going to fall, and acts on it, there is someone who must be doing the exact opposite. So, the market is stabilized only through complete disagreement (disorder). It's those rare times when agreement (order) rules the day that you get HUGE market swings. The good news is that order is something we can wrap our minds around, identify driving forces, build models, and make predictions -- and this book does all that.

There are not many equations in this book, and you can skip them without losing lock on the book's theme. The concepts and tools covered in this book are at the cutting edge of science and probably new to you, but new analytical insights are valuable, and the author explains them all in layman's terms. I look at this book as a scientific study into Warren Buffet's statement that money managers are "lemmings".

An Engaging and Thought-Provoking Work
If you love to read works on economics, math and physics and love to assemble models of the world, I cannot recommend this book highly enough. Indeed, if economic models were this much fun when I was an undergraduate, I might have become an economist.

Funny thing though, this was not written by an economist, but by a geophysicist.
It seems physicists and psychologists in particular are writing more interesting economics books these days than economists themselves.

The core focus of the book is a derivation of a market model that includes value investors, momentum investors and the herding effect of individual economic agents acting in a world of partial information. The final model is stunning.

Sornette points out the main problem with predicting bubbles: even if all the signs say "yes," there is still a pretty good chance that the bubble will be self-correcting. Turns out chasing market bubbles is a little like chasing soap bubbles - they may simply disappear at any moment. Thus, the book and the model are of limited use in any type of market timing. Indeed, the model suggests that the market should now be in the tank, and yet it continues to hover on the higher side of its expected range.

As much as I loved the book, there was a slight aftertaste that this was all nothing but a very mathematical and high-minded type of technical analysis. That at base, when all was said and done, this was not all that different from the various "tools" in the chartist's handbook, e.g. MACD, RSI and OBV, etc., etc., etc. The difference may be solely that Sornette knows his statistics and would easily and readily dismiss any model which did not perform significantly different from chance.

Finally, this book will have you trotting out your old high school calculus book. It brought back memories of just how much fun mathematics can be.

All in all - I give it 5 stars.


Related Subjects: Market-penetration-share
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