Review of Valuing Employee Stock Options (Wiley Finance) (Hardcover)

The book does a decent job of providing intuition on why traditional Black-Scholes framework will not work for Employee Stock Options. But then again, if directional intuition is what you are seeking, why spend the money on this book when you can get the same information by reading articles published in the Financial Analysts Journal (FAJ)? The book and the accompanying CD seem to be very cryptic when it comes to understanding the effects of early exercise. The CD is pretty much a black-box. If you think you can buy this book and explain the results of the analysis, then you are mistaken. Unless you have a PhD in Finance or a Masters in Financial Engineering, you may not understand what the algorithms do. Then again, if you had these degrees, you wouldn't need the book!

Product Description
A comprehensive guide to understanding the implications and applications of valuing employee stock options in light of the new FAS 123 requirements
Due to the new requirements of the Proposed Statement of Financial Accounting Standards (FAS 123) released by the Financial Accounting Standards Board (FASB)-namely the fact that employee services received in exchange for equity instruments be recognized in financial statements-companies are now scrambling to learn how to value and expense employee stock options (ESOs). Based on author Dr. Johnathan Mun's consulting and advisory work with the FASB consulting projects with several Fortune 500 firms, Valuing Employee Stock Options provides readers with a comprehensive look at this complex issue.
Filled with valuable information on binomial lattice and closed-form modeling techniques, Valuing Employee Stock Options can help financial professionals make informed decisions when attempting to ascertain the fair-market value of ESOs under the new requirements.
Johnathan Mun, PhD, MBA, MS, CFC, FRM (San Francisco, CA), is Vice President of Analytical Services at Decisioneering, Inc., the makers of Crystal Ball analytical software. He is also the author of Applied Risk Analysis (0-471-47885-7), Real Options Analysis (0-471-25696-X), and Real Options Analysis Course (0-471-43001-3), all of which are published by Wiley.

From the Inside Flap
The Financial Accounting Standards Board (FASB) released a Proposed Statement of Financial Accounting Standards (FAS) in 2004 that amended earlier FAS Statements 123 and 95. Soon after, the Wall Street Journal called this release "amoung the most far- reaching steps that the Financial Accounting Standards Board has made in its thirty-year history. " As a result, companies must learn how to rigorously and efficiently value and expense employee stock options (ESOs).

Based on author Johnathan Mun's advisory work with the FASB over 2003 and 2004, his graduate research work in the area of options analysis, and actual FAS 123 consulting projects with several Fortune 500 firms, Valuing Employee Stock Options provides you with a comprehensive understanding of the valuation applications of a customized binomial lattice through a systematic and objective assessment of the methodology.

This just-in-time resource includes informative sections that:

• Review the impact of ESO Cost
• Illustrate the issues of fair market valuation through an analytical assessment of three mainstream approaches used in option pricing
• Discuss the technical background required to run the Black-Scholes model (BSM) and customized binomial lattices
• Run through in-depth sample case studies applying FAS 123
• Provide multiple options valuation results that prove valuable from the perspective of both an analyst and a chief financial officer

The analyses performed in this book also use the author's own proprietary customized binomial lattice computer algorithms as well as his Real Options Analysis Toolkit, and Decisioneering, Inc.'s Crystal Ball Monte Carlo simulation software.

Filled with in-depth insight and expert advice, Valuing Employee Stock Options can help CFOs and finance directors as well as analysts, consultants, and accountants understand the implications and applications of valuing employee stock options in light of today's ever-changing financial rules and regulations.

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Review of ForeX Trading for Maximum Profit: The Best Kept Secret Off Wall Street (Hardcover)

Okay, first some background:I am new to trading forex but have been trading stocks and options for over 5 years.Aspects of the forex market are very intriguing (24 hour trading, a small 'universe' of currencies to watch vs. thousands of stocks/options, leverage, etc.) so I was looking for a book that would tell me more about the forex market and provide a good foundation to trade successfully.

Let me state from the outset that the editing indeed leaves much to be desired. Typos, letters or spaces left out and smallish charts that forces one to bring out a magnifying glass at times.But none of this has anything to do with the value of the content of the book.Anyone dismissing this book simply due to editing are 'missing the forest for the trees,' as the saying goes.But the minor editing blunders are unfortunate and are the reason for only 4 stars instead of 5.

Content pros:
a)Very bite-sized chapters help encapsulate topics nicely.You can focus on one thing at a time to insure that you 'get it' before moving on.And everything builds upon the preceding chapters fairly smoothly, so it works.
b)True to her premise, this is NOT another missive on all the possible technical indicators available to use. (If you want that, I suggest Murphy's tome on Technical Analysis.) Instead, she is clearly outlining some of the key tools that she uses to trade forex and provides adequate reasoning for her choices.She does not dismiss other indicators as not being useful - she simply seems to have found that following a simple system with these tools works for her.And I would have to agree that it is easy to become bogged down in 'indicator paralysis' and I find her simplicity refreshing.
c)For those commentators below that question whether she is a 'real' trader or whether her system can work, I would happily point out that the forex market uniquely offers a wonderful, NO COST way to find out for yourself!Unlike any stock broker that I know, you can open a demo account (or 3 or 5!) with any online forex broker and 1) learn how to execute a trade (it is different than stocks or options in some ways), 2) see whose `trading platform' you like the most AND, most importantly, 3) you can 'play along with Raghee' (or anyone else's strategy) as you read the book!
d) She does a very good job of defining trading styles (scalping, swing, momentum, etc.), links them to what markets that best apply (trending, sideways, etc.) and to which indicators fit each style and market the best.I have not seen any other author put the style, market conditions and tools together in such a clear manner.
e)She does a very commendable job in covering trade and account management.With the high leverage issues in forex, these issues become very critical, more so than with stocks and options.This is typically a boring area for most readers, but ignore it at your financial peril!

Content cons:
a) Other than the known gripes about small charts and some editing gaffs, I really do not have any significant `cons.' (But ask me again in a year once I have traded in a 'real' account for a while!The demo account is doing too well to leave unfunded!)

As you can tell, I highly recommend this book.If you are new to forex, you can buy many books for half the cost of this one, some that are a lot thicker, too!But I doubt that you can find a better book to help you become comfortable with the market, the 'whys' and 'hows' of trading forex, and perhaps most importantly, how to manage your trades and money in differing market conditions.

1. Buy this book.
2. Open a demo account (if you are not already active in forex)
3. 'Play' until you are ready!

What could be better?


Product Description
Take an in-depth, how-to look at Forex trading using the methods, analysis, and insights of a renowned trader, Raghee Horner.

As the fate of the dollar against foreign currency generates both anxiety and opportunities, currency trading has been drawing much interest and a growing following among traders in the United States. The Forex market is particularly attractive because it trades with no gaps and has unlimited guaranteed stop-losses. The liquidity of the Forex market and worldwide participation makes for more reliable and longer lasting trends as well.

Raghee Horner, legendary not only as a top Forex trader but as a master teacher of trading systems and techniques, draws on her winning tools and methods, including classic charting techniques, in this book. She'll enable you, regardless of your skill level as a trader or investor, to understand how the Forex operates and lays out a blueprint for getting starting in this little-understood but high-potential trading vehicle.

From the Inside Flap
Making A Fortune in the World's Most Dramatic Market

With no commissions, 24 hour accessibility, and gap-less chart patterns, it is no wonder that the foreign exchange (FX) market continues to draw more and more interest from traders around the world. If you're ready to venture into this fast-paced world and stake your claim, you must first acquire the skills that will help you make the most in the FX market-because if you're uniformed, you will underperform.

Written by Raghee Horner-one of the top FX traders in the country and a master teacher of trading systems and techniques- Forex Trading for Maximum Profit offers a comprehensive road map to getting started in this little-understood, but highly-profitable arena. By sharing her winning tools and methods, including classic charting techniques, price action, and market psychology, Horner enables traders and investors of any skill level to capitalize on and make money from the FX market. Throughout the text, she lays out a blueprint for trading success. And through this book's companion CD-ROM, you'll be virtually transported to Rahgee's trading desk where she'll show you-by illustrating actual, real-time trades and techniques-how to put what you've learned to work.

Filled with in-depth trading insights and practical advice, Forex Trading for Maximum Profit contains everything you need to succeed in the FX market. By becoming more familiar with this dynamic market and understanding Raghee's thought process as she trades in it-a process that has helped her achieve a typical per-trade return of 34%-you'll be prepared to take your first step into FX with confidence.

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Review of Credit Repair Kit For Dummies (For Dummies (Business & Personal Finance)) (Paperback)

I'm lukewarm about this book.

This book is good if you want general credit information but the title "Credit Repair" is misleading.If your credit is really jacked up like mine then this book won't cut it.I'd suggest doing online research to find out how you can repair your credit.

The book should have covered things like "pay for delete" which is a negotiation tactic that you use with collection agencies in which you pay the amount that you owe and they delete the negative tradeline off of your credit report.This is something that you would need to get in writing before making the actual payment.

Another term that the book should have covered is "restrictive endorsement".This is when you give your creditors a check w/ stipulations in the memo like "by cashing this check you are agreeing that this debt is paid in full" or "by cashing this check, you are agreeing to remove the negative tradeline off of my credit report".Note that this does not hold up in every state so you must be careful.

This book doesn't really touch on HIPAA information which is needed if you want to remove medical accounts (that have gone to collections) off of your credit report.

My suggestion if your credit is really bad is to do online research to figure out how to clean it up.This book is nothing more than definitions and you could get those online as well.


Product Description
Now, you can finally end the cycle of bad credit and get back on your feet by following the step-by-step advice and tools in Credit Repair Kit For Dummies, 2nd Edition. You'll find out everything you need to know about creating a solid plan to get your credit back on track. You'll discover how to find your credit report, review all of the information in it, and learn how you can repair and spruce it up. You'll learn how to communicate with creditors and how to budget so that you can pay your bills in full and on time. You'll learn how to apply these credit strategies to all life situations, from building credit with your life partner to financially surviving a divorce, unemployment, and student loans. You will find out how to safe-guard your identity so that other people don't damage your credit. Find out how to:

• Take charge of your credit
• Get help from credit counselors
• Request copies of your credit report
• Know how to interpret your credit report and credit score
• Avoid foreclosure
• Communicate with collectors, lawyers, and the courts
• Manage medical debt
• Safe-guard your identity

Complete with lists of ten tips to avoid identity theft and reduce damages, ten ways you can prevent foreclosure, ten methods for establishing and improving credit, and ten strategies for handling financial emergencies, Credit Repair Kit For Dummies, 2^nd Edition is your one-stop guide to improving and maintaining your credit score and protecting your identity.

From the Back Cover
Avoid bankruptcy, foreclosure, and identity theft

All the tools you need to build, rebuild, and maintain great credit

Need to clean up your credit? This up-to-date resource is packed with action plans for repairing a bad report, paying down debt, and repairing a bad credit report. You'll discover how to dispute inaccurate information, communicate with collectors and creditors, set financial goals, and build a good credit history. You'll also see how to avoid scams - and take action if you're victimized.

Discover how to:

• Obtain and maintain your credit report

• Build new, strong credit

• Handle annoying collection calls

• Locate credit counseling

• Manage your finances wisely

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Review of Budgeting: Technology, Trends, Software Selection, and Implementation (Hardcover)

I found this book to be very practically oriented and extremely helpful for me to understand new trends in budgeting, but most of all to help me plan for the purchase and implementation of a new budgeting software in our corporation. It helped us find qualified vendors, and the attached RFP (which also was downloadable as a Word file from the publisher's Web-site) literally saved us thousands of dollars by eliminating the need to write an RFP from scratch. I also found the various report examples, contract examples and the sample project plan very useful. Overall, this was the only book I have found on modern budgeting and budgeting software, and I was pleasantly surprised how helpful it has been to us.

Product Description
Essential Budget Planning for the 21st Century Corporation

Today's corporations are more competitive, dynamic, and, consequently, more powerful and successful than ever before. As a result, the days when corporate budgeting was merely an obligatory, routine process of estimating the coming year's revenues and expenses have long ended. Successful corporations are constantly improving their ability to predict their future operations and their related resource requirements, enabling them to adjust their plans as needed and stay ahead of the competition. Not only does this heighten the importance of the budgeting and planning process, but it also changes the traditional roles of spreadsheets, legacy budget systems, and software created in-house. Budgeting shows corporations how to achieve and maintain their edge through modern budgeting systems and the use of good budgeting software. This book provides comprehensive guidance through the range of considerations that are crucial to streamlining the budget planning process:

• What corporations should be looking for when buying or building a new budgeting solution
• How to select the right budgeting solution from the field of vendors
• How to successfully implement a new budgeting solution
• How to fully utilize the Web

. . . plus helpful lists and questionnaires, and interviews with managers from leading companies who have effectively created internal processes and implemented software solutions. Equip your corporation to excel in the twenty-first century with the tools and information offered in this invaluable resource.

From the Inside Flap
For years, companies have perceived their budgets simply as a mandatory estimate of the upcoming years revenues and expenses. In the contemporary corporate world, however, this attitude is quickly changing as the marketplace becomes more competitive and more global. To maintain their cutting edge, strong corporations are constantly striving to increase their accuracy in predicting future operations and related resource requirements. As a result, the importance of the budgeting and planning process has increased dramatically for todays corporations and markedly changed the traditional roles of spreadsheets, legacy budget systems, and software created in-house.

This indispensable book provides CFOs, controllers, budgeting managers, and anyone involved in the budget planning process with an in-depth examination of modern budgeting and technology, including how to select the correct software and ensure that implementation takes place smoothly.

From the basics of what corporations should look for and how to mine the vast field of vendors to find it, to achieving a streamlined, competitive, and highly effective budget planning process, Budgeting:

• Discusses how the Web is becoming a delivery vehicle and a platform for most budgeting systems
• Shows how to evaluate and select budgeting software
• Provides interviews with managers at leading companies who have successfully created internal processes and implemented budgeting software solutions
• Lists and categorizes major budgeting software products and vendors
• Provides a comprehensive list of Request for Proposal questions
• Provides popular ratios used in connection with budgeting and analysis

Ensure your companys future with upgraded budget planning practices and routines-and ensure a successful, competitive, and profitable new millennium.

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