exchange

"Detailed in its content, broad in its coverage, and refreshingly clear in its delivery, this is a book that will propel Dr. Mwenda to the top list of emerging authorities on capital markets and corporate finance law. . . the book. . . will enjoy broad appeal in academia, development finance and international finance institutions, and in the corporate world." - Gerry Nkombo Muuka, PhD, Associate Professor of Management, Assistant Dean & MBA Director, College of Business and Public Affairs, Murray State University, Murray, Kentucky 42071, U.S.A

"Kenneth Mwenda has written an excellent treatment of the role of stock markets in developing countries: focussing on the case of the public distribution of securities in Zambia, and drawing conclusions that are of wider application to policymakers concerned with the development of capital markets in similar settings." - Douglas A. Webb, Formerly Legal Advisor, Finance and Private Sector Development, Legal Department, the World Bank; and presently, Managing Counsel, Legal Department/Vice-Presidency, the World Bank, Washington DC, U.S.A.

It is amazing that with all the advancement in technology during this era, the basics of trading remain the same: fear and greed, supply and demand. I found this book enlightening in that it sheds light to human behavior and psychology of trading. If you're looking to find a mechanical system that tells you when and what to buy, go elsewhere. This book though, is a must read for anyone who wants to start trading stocks. I enjoyed it a lot.

This book is the fictionalized biography of Larry Livingston, a speculator from the late 1800s' through the 1900s'. We read about his trading mastery in the "bucket shops", and eventual migration to Wall Street where he becomes a major player, making and losing millions many times over. You'll find a lot of similarities between the current market conditions and its behaviour during Livingston's time. Its amazing how traders used "tips" those days, not very different from how most "individual investors" trade today. Livingston uses various experiences to explain his speculation strategies, which should help everyone somehow. This book is about the psychology of a professional trader, and that aspect doesn't seem to change with time.

I have a library of nearly 100 books about the markets. Reminiscences was the third book I ever read and it remains my "bible" more than a decade later. You might wonder how an 80-year old book about the stock market could still be relevant. Well, that is because financial markets are determined by human nature as much as anything else, and human nature acts today as it did a century ago. Greed, fear, herd thinking, impatience - those are the same influences that drive markets today and haunt traders and investors who are striving to make the right decisions. Many of the lessons that dictate my investment philosophy ("Cut your losses, let your winners run", "if you don't like the odds, don't bet") were taught to me by the protagonist, who is the fictional characterization of the legendary Jesse Livermore. That he tells his stories with such color and suspense makes the book completely entertaining beyond its invaluable trading lessons. BUY THIS BOOK FOR YOURSELF. BUY ANOTHER ONE FOR A FRIEND (I've given 4 copies). You'll not only improve your own investing results, but your gift will impress as well.

I passed my last MCSE exam Exchange Server 5.5 with just this book. It's the BEST book for the exam. Again, the review questions at the back of each chapter are almost identical to those on the actual exam. Couples of them are even exact word-to-word to the exam. You need to have an evaluation copy of Exchange Server 5.5 installed and follow the book to do the hand on execises. Otherwise you don't know what the book is talking about. If the author can give the explaination for each of the review question will make the book perfect. GOOD LUCKS!

If I could recommend only one resource to help pass the Exchange Server 5 .5 (70-081), THIS IS THE BOOK! It covers every objective in the exam and the end of chapter questions are almost the same as the real exam. My other resources i nclude the Microsoft Official Course Material for both the Concepts & Admini stration course as well as the Design and Implementation course. Neither of thes e courses (8 days in all of classroom) prepared me for the exam as well as this book Best regards, Gretchen Franck.

I just took this exam a couple of weeks ago and was blown away by how many questions came straight out of this book word for word! Microsoft must have asked Cybex for their questions to add to their pool. I bet 38 or so of the 50 questions I got came from this book. It happens to also be a well written and easy to understand book as well, I was able to find the answers for everything I looked for. If you want to pass in a week or two, buy this book, study hard and memorize these questions.Enjoy.

Very good book. I agree that the charts could have been better and more relevant to wha Elder was discussing in the text. His mental toughness section is excellent. Trading is a mental game, and a trader has to stay mentally tough or take a break. Mark Douglas's books are the best on this. Laurence Connors places a big emphasis on this too.

I really enjoyed the first book by Dr Elder, "Trading for a Living" very much. I have just finished Dr Elder's new book, "Come Into My Trading Room" and have enjoyed it very much too. There are several new ideas in the new book. A lot of the material in this book was presented in "Trading for a Living". It is the best book that combined the 3Ms -- Mind, Method and Money Management -- required for successful traders. It expands on the methods presented in "Trading for a Living" and makes the triple screen concept very clear.

I think the great difference between this book and other trading books is Dr Elder's background as a psychiatrist. He provides valuable insights into understanding the human element of market behavior, and the individual trader that makes his work unique. Dr Elder shares his own, successful trading strategy in a clear, concise, and easy to understand style. He does a great job showing some of his successful trades. I'm sure this is one of the finest books on developing trading skills. It is not only fun and easy to read but it is profitable. It pays back.

Alexander Elder gained well-deserved prominence for his first book, Trading For a Living. It's one of my favorite books on trading. Out of this classic came such new indicators as the Force Index, which is one of the indicators I use regularly in my chart software. I read Elder's follow-up, Come Into My Trading Room, in hopes of learning additional insights of the Force Index. While I found some new information here, I was even more impressed by the following lessons Elder shared:

1) "Some of the best trading opportunities occur after false breakouts" - I'm finding this more and more these days, which is why I actively use my Momentum Divergence indicators to separate the fakeouts from the real breakouts. Elder does a great job showing numerous charts throughout his book, laying the groundwork for the divergence examples he explains in great depth when you step into his trading room in the final chapter with many actual trading examples. You need to understand the concept of divergence to trade today's markets more profitably, and this book will be a great help in showing you how to trade divergence setups.

2) Triple Screen - Elder explains the important of using multiple timeframes, though he advocates two to no more than three time frames. The key concept is that whatever timeframe you use, you need to go up to the next longer timeframe to get confirmation. This provides the bigger picture trend to define the nature of your trades, and then you can return to the shorter timeframe and make more tactical decisions with this broader trend in mind as well.

3) Grade Your Performance - Elder actually quantifies trading effectiveness by defining the width of the channel for a stock, and what percentage of the move the trader actually captured to determine his grade. Regardless of how a trader measures his performance, it must be tracked in order to make improvements and experience constant improvement.

4) The SafeZone Stop - While I have not tested this indicator in my systems yet, Elder's SafeZone Stop looks like a more effective way to place a trailing stop than standard moving averages. The SafeZone Stop appears to adjust more rapidly to trending versus flat periods for a stock, compared to moving averages. This new technique should easily be worth many times the price of this book by itself.

5) Chapter 9: Trading for a Living - This chapter was my most highlighted chapter, as Elder covers the stages of growth from beginning to professional trader, covering a wide range of topics on trading discipline, time management, organization and developing a viable trading plan, to highlight just a few.

All in all, Come Into My Trading Room is an excellent follow-up to Elder's Trading For A Living, and I think you'll also find it a quick and thought-provoking read.

Anyone noticed that Mr. Douglas's detractors are NOT experienced traders? All I have to say is: THANK YOU 1000 TIMES MR DOUGLAS.

To the previous reviewer -- It doesn't matter that Douglas is not a psychologist -- the book is about trading, and the mental processes involved in becoming a consistently successful trader. Since the early 1980s, Douglas has been, and still is, a successful trader -- not someone who makes his living writing books about trading -- as Mr. Kiev seems to do. Also, with regard to Mr. Kiev's book and the fact that he is a psychologist -- keep in mind -- Mr. Kiev is NOT a trader, never has been, so how could he write about being successful at something he has never accomplished himself??? But hey -- go ahead and buy Kiev's book -- if you need "degree" initials after an author's name to give a book validity. Myself -- I'll stick with a REAL trader's point of view and Douglas' books and talks -- he knows what he's talking about because he's been there in the trenches with us!

It is apparent that Douglas exhaustively researched material for his book by talking and coaching other traders -- I see myself, and my fellow traders, in every chapter! It is great to know that even a successful trader like Douglas had problems in the beginning, like most of us, and learned how to overcome them. But more importantly, that he chose to share those ideas with the trading public. Thank you for your generosity!

Suppose you and your heroic former POW husband buy a sailboat. You are ready to achieve your dream to sail the Bahamas. Suddenly, your dream turns into your worst nightmare; the boat has a dangerous type of stowaway, and you are kidnapped by a ruthless if fascinating drug lord who wants something you don't have--and something you do.

This book has plenty of excitement, horror, heroics and a real villain. It reads like a made-for-tv movie. Is that bad? Well, not if you want a fast-reading, exciting tale for the summer or a plane ride to keep you turning the pages.

The author models the POW husband hero from her own life; is she the model for the heroine? I don't know, but this was a fun, quick reading book and certainly would please any reader of suspense or action thrillers. Pack it into your beach bag this summer and you won't be disappointed.

Please don't read this book before going to bed hoping to be lulled into sleep, because you will still be up at dawn turning the pages. This is a fast read, I couldn't put it down. What seems like an idyllic sail to the Bahamas turns into Matt and Alex's worst nightmare and we are instantly caught up in it. A drug deal gone wrong, sadistic drug lords, fishy Federal agents, foul weather and a plucky heroine all conspire to make this an exciting novel. Hoping for more from Sheryl Jane Stafford.

Sheryl Jane Stafford's A Deadly Exchange is a fast-paced suspense novel set amidst the islands of the Bahamas. Alex and Matt Spencer realize a dream when they purchase their own sailboat from a yacht charter service. When they take possession of the Armani, what should have been a dream vacation develops into a living nightmare. When they set sail, little do they know that they are carrying away far more than themselves because hidden on the Armani are bags of cocaine, fiber glassed into the boat's locker by mistake. Add to the pot that the cocaine's owner is a ruthless and notorious Colombian drug lord, and the suspense has already begun to simmer.

Some might think this plot enough, but Sheryl Jane Stafford doesn't stop there. Matt is a former POW who was tortured during the Vietnam War. Although still haunted by his captivity, he's certainly no push over and the love he shares with Alex is strong. While his need to act often clashes with traumatic memories, there is little doubt that this man will do whatever it takes to secure his wife's safety.

Suspicion is second nature to Matt and when two Bahamians - those that planted the cocaine, begin to pop up wherever Alex and Matt happen to be, alarm bells soon begin to sound in Matt's mind. It is just a matter of time before Matt discovers the hidden drugs and the simmering plot begins to boil. With no help from the Bahamian drug-bought police, Matt realizes that he's on his own. Hiding the drugs on an island, Matt hopes to barter for their lives, but all goes awry when Alex is abducted. Matt will now have to negotiate a new deal, the cocaine for his wife...but things are no longer that simple.

One might wonder at the reality of this book, the accurateness of the setting and the authenticity of the characters, but when you realize that the author has carefully researched every detail, you can understand why the book is so gripping. Having sailed these seas herself, Sheryl Jane Stafford utilizes her experience and provides precise details of the sailing process and the geography and characteristics of these Bahamian islands. Matt's character is also easily recognized in her own husband - a former POW Commander. While the storyline maybe a fictional one, the author's use of detail, coupled with real-life based characters not only furnishes the suspense, but also allows the reader to acknowledge how true-to-life this scenario could be.

Allow yourself a couple of days for this book, preferably undisturbed, because once you begin you'll find yourself anchored until the very end. This is one of those books that movies are made from. Perhaps Harrison Ford can take it from here...

I don't know what these other reviewers are talking about. I am half way through this book, and it is no where near as good as the Exam Cram series that I used for the core 4 requirements. This book gives only a couple practice questions per section, and no explanation of why the wrong answers are wrong (& only a very short explanation of the correct answer). This book does NOT pinpoint and zero in on what you need for the exam. It gives you a broad overview of a topic that can go on for an entire chapter, and starts by saying "Oh yeah... the exam covers this topic so be sure to know it." But it doesn't point out the most important information in each section, and it doesn't give you notes on things to look out for on the exam. Reading this book, you will feel like you are not being lead in the right direction. You can study the material in this book, but still feel unsure about the author's views on what is the most important information to know for the exam. Not only that, the author gives no usefull information AT ALL for real life situations. This book is crap!!! Buy Exam Cram. Atl least you will feel content in your knowledge after reading an Exam Cram book.

I studied TCP/IP for NT 4.0 for two weeks using this book and the Transcender test. I scored 640 (need 570 to pass on the new adaptive test). I used Gary Govanus' other exam notes book for NT Workstation and aced that test too (882/1000)! He is a totally awesome author and this series blows away Exam Cram any day!

When I walked in the testing center and sat down, I had no clue Microsoft changed TCP/IP to adaptive (only 25-35 questions depending how many you get wrong). But this book combined with Transcender is still on the right track because after my 25th question my test ended, which means I answered enough correctly that it didn't need to continue (adaptive tests are totally different than what MS was using before). Being that Microsoft has made Network Essentials adaptive, and plans to make all the NT core exams adaptive in the next couple weeks, this book is still right one target!

Only one error in this book, and that's on subnetting. Most books slughter their subnetting sections, but not this one. The best explanation on subnetting I could find (that I actually learned from) was the 40 page booklet that comes witht the Transcender test (which still rocks for the adaptive test!).

Overall, Gary's book is awesome. At my college, we're using the New Riders TCP/IP which sucks so bad it's criminal! Most books out there have too much info....this one is nicely layed out in 300 pages and each chapter covers Microsoft's "Exam Objective". Thanks Gary! You rock dude!

Mark L. Holloway

I just passed the 70-067 exam today with a score of 872. Here is how I did it. First, I bought this book. NT Server covers alot of material and you will need something that gets right down to the heart of the material, not a bunch of fluffy crap. I spent 3 days reading this book and hi-lited along the way too. Once I finished, I used the Transcender test for 70-067 and scored only in the 700s, so I printed out the completed tests and looked up the wrong answers in this book. My second round (2 days after) I scored 986, 891, and 891. The real test only requires a passing score of 764. WOW! I've used this series of books for NT Workstation, IIS4, and TCP/IP 4 and passed the tests the first try each time. That's how I know this series is for real...

HINT:

Despite my skepticism of many technical analysis (ie. charting) techniques, I bought this book a) because it was widely acclaimed; 2) I had hoped John Murphy, a prominent technician, would address some of the major criticisms leveled against TA. I was sadly mistaken. Only 2-3 pages are devoted to answering the claims of credible research that suggests stock prices are essentially random. Murphy's best answer seems to be that because some charts exhibit trends, technical analysis is validated. This is a complete non sequitir.

The first half of the book is devoted to charting methods, which he characterizes as both reliable and _subjective._ Excuse me, but how can a technique be deemed reliable if two practitioners cannot agree on what the data mean? This section is heavy on claims, but lacking any solid evidence.

Fortunately, the book isn't a total waste. There is an extensive review of more reliable and quantitative techniques, such as moving averages, oscillators, Boillinger Bands, etc. This part is probably the most useful portion of the book. Of further interest is the use of TA for intermarket analysis, developing trading systems, and the method of Japanese Candlestick charting, which might have something of value.

A good rebuttal to the exaggerated claims of TA is _Stock Market Logic_ by Norman Fosback, who has developed some powerful trading systems of his own.

If you are already a convert to TA, you will love this book. If you are a skeptic, nothing in this text will change your mind. My advice: absorb what is useful, reject what is useless, and (most importantly) add something specifically your own. (Thank You Bruce Lee!)

Investing isn't easy. Investing profitably is even harder. As a result, investors are always looking for that 'angle', that 'edge' that will help them realize more consistent profits.

In the past 2 decades, many on Wall Street have come to believe that technical analysis of stock charts is one of those tools. Having worked in the financial services markets since 1987, I do believe that technical analysis can be a helpful tool. And if you are looking for a definitive source of TA, then look no further.

Technical Analysis of the Financial Markets by John Murphy covers all the basic aspects of TA: philosophy, chart construction, fundamental vs. technical analysis, trends, major technical pattern recognition, moving averages, oscillators, times cycles, computer trading systems and much more. He also covers different methods of charting, including bar, point and figure and candlestick (be aware that most of the analysis techniques he presents apply to bar charting, not PnF or candlestick).

What I like most about the book is that it written clearly, simply and logically. It uses many graphical examples that SHOWS the reader what to look for. It does not rage on about the merits of TA (which many investors feel is complete hooey) but how to apply basic (and sophisticated) TA techniques. I use TA frequently in my business and find that it helps me manage my client's portfolios more effectively, especially when it comes to SELLING a position, whether to lock-in gains or limit losses.

If you are a TA convert, or if you have an interest in learning more about it, this book is a useful guide and should be purchased. Today, it remains one of the few investment reference books that I keep in my office.

This is a great book on technical analysis. The fundamentals are all here from pattern recognition to indicators. TA is essential anyone who wants better entries and exits on stocks and other financial instruments. This is the building block to using trading strategies to win in both bull and bear markets. For actually trading strategies, I recommend Dave Landry on Swing Trading or Street Smarts, but this book is the perfect start.

Don't get me wrong, the author doesn't seem stupid - he developed his own adaptive trend following method. But he has completely no idea how the market works and what can possibly work in the market. This book is a compilation of many technical trading methods, but most of them are stale and some ridiculously insane. Page 376-377 he has a chart and program to compute the moon's phase, because we should buy at full moon and sell at new moon? The selling point of the book is it contains some source code, but most of them are naive. Page 640 betrayed that the author only wrote the programs over twenty years ago when there was no graphics output. In regression he had to use many "*"s to draw the line. And why would any reader need the Fortran source code in the appendix to do regression? Remind you that those ten pages would cost you a buck.

In short, the book has no value for professionals. For individual investors, be aware - the book could actually be harmful because it gives you false confidence. In the investment world half bottle may be worse than you know you have nothing in the bottle.

Perry Kaufman offers a thorough and informative encyclopedia of trading systems and insights in a comprehensive guide of nearly 700 pages. The book is geared for a more advanced level of trader, as well as for someone interested in focusing on the mathematical foundations of building and testing trading systems. If you are looking for a detailed and mathematically-oriented approach to futures trading systems, then this highly quantitative book is for you.

The goal of Kaufman's book is "to give a you a complete understanding of the tools and techniques needed to develop or choose a trading program that has a good chance of being successful." He excludes commentary on market psychology and execution or trading skills in favor of focusing primarily on the development of a well-thought-out and tested system.

Kaufman has worked extensively in price forecasting, and he is a well-known technical expert in futures markets. He is a principal of an international investment firm and has written extensively on trading systems. Since he has an extensive background in futures trading and research, the futures markets remain the primary focus of the book. Any trader interested primarily in equity trading might find this book more advanced than necessary.

For anyone even remotely interested in learning about the complexities of trading systems, then this book does offer some interesting insights into how in depth some trading systems can become. For instance, the book explains techniques like trend and countertrend analysis, indicators, and various testing methods. Also covered are choice of data, diversification, time frames, trade selection, choosing a method of analysis, and testing.

As for the ongoing learning process that trading demands, I particularly liked the quote Kaufman uses at the beginning of the book. He quotes JRL as saying that "If you have a minute, I'll tell you how to make money in stocks. Buy low and sell high--Now if you have five or ten years, I'll tell you how to tell when stocks are low and high." Learning takes a lot of time, and if you have the time Kaufman's book is worth reading.

This is not so much an encyclopedia as it is a fairly complete compendium of various trading tools and strategies. Almost all such research focuses on the futures markets; the closest these get to the stock market is the S&P 500 index. This is true of technical analysis in general, so if you're interested in the stock market you will generally have to extrapolate.

Kaufman is a pretty able and knowledgeable reporter on the research results of others, but I have to say that in places the transcriptions are confusing, unclear and ambiguous. Even though the book is nearly 700 pages long, some of the coverage is too sparse -- while in other areas it seems too wordy. This 3rd edition could benefit from a start-to-finish re-organization/re-write, as some ideas are explained multiple times in various places and other ideas which are introduced early and deemed important are then ignored throughout the rest of the book. I'm thinking primarily of the basics of statistics and tests for significance; much of what might work at times is superfluous. My impression is that while Kaufman is very experienced in the markets and with trading systems in general, that he's a dilettante so far as really rigorous mathematics is concerned. Pick and choose among the many clever ideas here carefully. 3 1/2 stars.

In Den of Thieves, James Stewart gives us a gripping account of the insider trading ring that almost brought down Wall Street.

As a student studying finance, I was told to read this book by my cousin who worked in the financial world. After I finished, I had a more realistic view of the intensity of Wall Street. This intense competition and desire for money drove some people over the edge. Such was the case for Michael Milken, Ivan Boesky, Terry Mulheren, and their cohorts. To a certain extent, these men were driven to cheat and steal by insatiable greed.

You do not have to know much about the financial world to enjoy this fast paced thriller. The joy in this book is in the hunt. Once the SEC became aware of Milken's activities, they had to find a way to prove it and then had to take Milken down. Once Milken was taken out of his office in handcuffs and Rudy Guliani began to build his case, Milken's "associates" began to sing like canaries in the hope of cutting a deal with the government.

I love reading books about criminals who get what is coming to them. Michael Milken and friends deserved every bit of jail time they got. This definitely a book about criminals getting what they deserved. James Stewart draws you in within the first 20 pages, from there I hope you have some spare time because you will not be able to put it down.

An absolutely outstanding look at the '80s Wall Street culture and the inside operations of Michael R. Milken, Dennis B. Levine, Ivan F. Boesky, Martin Siegel... and many, many other players on Wall Street, including U.S. Attorney Rudolph Giuliani & the SEC investigations. Wall Street--Economic History worthy of reading.

Other great, outstanding books on the subject: "A Licence to Steal: The untold story of Michael Milken and the conspiracy to bilk the nation." by Benjamin J. Stein; and also: "Ther Predators's Ball" by Connie Bruck.

And because James B. Stewart is such an outstanding writer, I also read, which was a great book as well, written in story book fashion again: "Blood Sport: The President and his Adversaries" by James B. Stewart, a #1 New York Times Bestseller.

This was one book that I could not put down. The book is broken into large sections, each dealing with a particular criminal and his corresponding activities. In-depth descriptions of what was going on behind the scenes at some of the most respected financial firms of the time--absolutely fascinating. If you were around in the 80's, and you work/participate in the investment industry, this should be required historical reading.