NEWSLETTERS
2011
2010
FORMS
RECORDS RETENTION LIST
(Link for pdf)
THOR’S BOOK RECOMMENDATIONS
Manias, Panics, and Crashes / Charles P. Kindleberger
In light of current events on the business front I have been dipping into a classic text that provides historical perspective for understanding the events of today.
This is the classic Manias, Panics, and Crashes by Charles P. Kindleberger. He provides a succinct history of economic crises in ten chapters plus a conclusion as to “The Lessons of History”.
Readability: Easy to read, plenty of examples.
Technicality: Not technical.
Provides Knowledge On: How to invest your retirement money to provide a lifelong stream of reliable income.
Buckets of Money- How to Retire in Comfort and Safety / Raymond J. Lucia, CFP
Developed by Lucia over his thirty-year career as a financial planner, the “Buckets of Money” technique is a proven way to achieve both income and growth, while guarding against the ravages of inflation. Buckets of Money is filled with in-depth insights and practical advice that will help you assess your retirement situation, save the money you need to last your entire lifetime, and adjust your plan to good times and bad.
Regardless of your age, income, net worth, or investment experience, you need to have a solid plan for your retirement years. Buckets of Money provides you with such a plan, and shows you the best way to implement it.
Readability: Easy to read, plenty of examples.
Technicality: Not technical.
Provides Knowledge On: How to invest your retirement money to provide a lifelong stream of reliable income.
Good To Great / Jim Collins
Excellent book for entrepreneurs and business owners. It’s been a number of years since I read this, but it had great significance in how we structured our business. Why would anyone want to do business with a “good business” if they could go with a “great business”?
Readability: Easy to read and follow. Loved the case studies
Technicality: Not technical
Provides Knowledge On: How to build a great reputation and why everyone benefits.
The Age of Turbulence / Alan Greenspan
A great read on what goes on behind the scenes. I used to blame Mr. Greenspan for keeping interest at zero for 50 long. I cam still not convinced of his argument but I walked away feeling that some bureaucrats working behind the scenes are really trying to do the right thing. This book will shed lots of light on reasoning that goes on during the Feds decisions and perhaps most importantly, the distinct possibility that they really don’t have a grip on this complex and vast economy.
Readability: Flows well; does not use complicated concepts
Technicality: Moderate, no financial jargon
Provides Knowledge On: Macro economic decisions, past presidents’ economic reasoning and a gentle reminder of how being around power and building a solid reputation can lead to big things.
The Theory of Money and Credit / Ludwig von Mises
It is probably best known as the volume which first set out the distinctive Austrian theory of the trade cycle. For that alone, it deserves a place on the bookshelf of everyone who cares about such things (and more people should).
But there’s much more to it than that. This volume sets out a complete and groundbreaking theory of money itself: what it is, where it comes from, what it means to speak of its “value,” the differences between commodity money and fiat money, the demand for money and what it has to do with banking, and — crucially — the jiggery-pokery that becomes possible when the State starts messing around with unsound monetary policy.
This edition also includes a section on “Monetary Reconstruction” written in 1952 (and first included in the 1953 Yale University Press edition).
Readability: For non-financial types, this will be a challenging read.
Technicality: Fairly technical
Provides Knowledge On:Banking system that America adopted from Austrian model, based on central bank, ARA: Federal Reserve
Asset Allocation / Roger C. Gibson
Why is a long-term, successful portfolio constructed the way it is? Read this classic for the answers. After our recent market melt-down and the subsequent rebounding trend, re-read it! Whether you are in the business or a serious investor that wants to be in the know; this is the book for you. Even though I’ve been through a CFP(r) prep program and have passed the CFP(r) Certification Exam, I don’t profess to know it all – especially not in-depth in certain areas. This is a book that I’ll revisit over the years. Mr. Gibson is an acknowledged expert in the field and I learned much from this up-to-date edition. This book will always stay on my shelf.
Readability: Easy to follow and understand
Technicality:Concepts anyone curious to know and understand concepts of investment, diversification, will be able to follow
Provides Knowledge On:Value of diversification, how to construct portfolios ,ad why it works.
Fooled by Randomness / Nassim Nicholas Taleb
Excellent read for all, especially those that never quit got the grasp of statistics. The author is a bit full of himself, but once you get over that, it becomes more enjoyable, and a very useful reminder of how random variables can be a real “game ????”
Readability: Readers will have to stay alert on this one
Technicality: Complex
Provides Knowledge On: Practical statistics and how they play a roll in each of our lives, particularly investments.
Winning the Loser’s Game / Charles D. Ellis
Peter Drucker referred to Winning the Loser’s Game as “by far the best book on investment policy and management.” Now, in it’s fifth edition, the investing classic has been updated and improved.
With refreshing candor, straight talk, and good humor, Winning the Loser’s Game helps individual investors succeed with their investments and control their financial futures. Ellis, dubbed “Wall Street’s Wisest Man” by Money magazine, has been showing investors for three decades how stock markets really work and what individuals can do to be sure they are long-term winners.
Applying wisdom gained from half a century of working with the leading investment managers and securities firms around the world, Ellis explains how to avoid common traps and get on the road to investment success.
Winning the Loser’s Game helps you set realistic objectives and develop a sensible strategy. You will learn how to:
Create an investment program based on the realities of markets
Use the “unfair” index fund to succeed, even in tumultuous markets
Institute an annual review process to steer your investments well into the future
Maximize investing success through five stages, from earning and saving through investing, estate planning, and giving
The need for a trustworthy investing guide has never been greater. Sixty million individuals with 401(k)s are now responsible for making important investment decisions. They know they’re not experts but don’t know whom to trust.
Readability: Easy to follow
Technicality: Not technical
Provides Knowledge On: Diversification concepts and strategies. A good follow-up on Asset Allocation
Unbroken(A WWII story of Survival, Resilience, and Redemption) / Laura Hillenbrand
One of my favorite books. I read the review from Wall Street Journal and went ahead and ordered it. Very well done, thoroughly researched by Ms. Hillenbrand (the author of best seller, Seabiscuit). I lost three nights of sleep last winter on this one, but well worth it. Even by 10th grader liked it!
Readability: Light reading
Technicality: Non-technical
Provides Knowledge On: Life and times of “The Greatest Generation”. The power of God’s grace and mercy.
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