Showing posts with label gambling. Show all posts
Showing posts with label gambling. Show all posts

An Outdoor Family Guide to Lake Tahoe (Outdoor Family Guides) Review

An Outdoor Family Guide to Lake Tahoe (Outdoor Family Guides)
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PROS: The organization of this book is outstanding. It has an overview map with location of each hike clearly marked by its number. It has a table of hikes with difficulty ratings, length, usage, and activities. It has brief summary of how to handle high altitute, ticks, bears, and mosquitos, and what to put into the backpack for a hike. Each hike comes with a little individual map. Each trail is rated as suitable for hiking, biking, or both. 58 trails described in the book is a very manageble number which makes choosing the right one easy. It is quite well described what to expect during the hike. It is the best organized book on hikes I have ever seen!!!
CONS: the information in the book is not always up-to-date; small details which could help you to find trailhead or the right turn are often not there; maps appear to be traced from topographic maps and are accurate, but show very little besides the trail and starting and final points. Very mathematical approach requires meticulous counting of distances.
PERSONAL EXPERIENCE: we took this book for a two-day weekend at Tahoe. On our first day, we decided to take trail #6 to Watson Lake. The book suggests taking unpaved Watson Lake Road and turn left on road 16N73C in 5.9 miles. In reality it turned out that the road is called "Mt. Watson Rd.", that it is paved for at least 12 miles, that there are quite a few roads on the left, but none of them has sign "16N73C". There are no hints in the book how to find the right road other than distance from the highway, and we of course did not realize that the distance was the only way to find that road. We were looking for a sign, missed the 5.9 miles reading, and then wasted 2 hours driving back and forth, but did not find the turn to the lake and gave up.
On the next day, we went for #16, Five Lakes Trail. The book suggests to drive on Alpine Meadows Road for 2.1 miles to the trailhead which is opposite to Deer Park Drive. We found Deer Park Drive 1.6 miles from the beginning of the road, were confused by why it is not 2.1 miles down the road, thought that perhaps it was a typo in the book, and spent 15 minutes looking for the trail - until we asked a local who told us that Deer Park Drive is a half-loop which intersects Alpine Meadows Road twice, here and half a mile down the road.
In both cases, we got a good deal of frustration. I will not repeat here what my wife said about this book and what she suggested to do with it! A good map could certainly help us - but we did not have one, and the maps in this book do not show anything except for the countour of the trail and the final destination - as a rule, neither landmarks along the trail nor intersecting trails are indicated.
BOTTOMLINE: If your family enjoys hiking with a GPS unit and a topographic map and loves the idea of counting 3.1 miles along the road, then another 2.7 miles after a turn, and you never forget to reset your trip meter after a turn when you are driving - you will get the most from this book and will love it. On the other hand, if you like to rely on verbal descriptions more than on accurate numbers and want a book that warns you that there are two crossings with Deer Park Drive and you should park at the upper one, or expect the book to describe what you will see when you arrive to an important turn to make you feel safe that you did not miss it, or if you like to see detailed maps or even fragments of topographic maps on one of the pages - then you may find this book very frustrating because the language it talks to you is not the language you expect to hear. It seems that instructions were very carefully verified against the map - but were not necessarily checked by real-life family hikers! A few more touches could've made this book really great. Maybe I was unfortunate to choose poorly described trails, or was not a kind of hiker that this book was written for - but I got my share of frustration which could be easily prevented by just several words in the text. My advise - if you get this book, carefully track the distances, expect that some things written in the book do not match the reality, and keep a topographic map at hand - and you'll be fine.

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Exchange Traded Funds and E-Mini Stock Index Futures Review

Exchange Traded Funds and E-Mini Stock Index Futures
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I've attended several of Mr. Lerman's stock index seminars that he has done for the Chicago Mercantile Exchange--I agree with one of the endorsers that stated that he is a powerful communicator. He has translated his gift for teaching investment/trading principles into written form. Exchange Traded Funds and E-mini Stock Index futures was not only highly educational, it will help boost my investment returns and help save thousands of dollars in annual fees/expenses as well. I particularly liked the asset allocation section and appreciated how easy it is to construct portfolios with Spiders, QQQs and other ETFs. The best parts though were the multitude of strategies for basic investors all the way up to the more advanced trader. The sections on hedging portfolios against a bear market and spreading small/midcaps vs. large caps were easy to comprehend and implement. With small and mid-sized stocks outperforming the large caps YTD 2001, and in 2000, these types of strategies are very germaine. There are also tons of great statistics, graphs and an excellent section on Risk--the most ignored factor in investing. For the advanced investor he also explains fair value and index arbitrage in very easy to comprehend language. Overall, great job...well worth the time and money spent!

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Shows how to use both ETFs and E-Minis for high-powered results
Exchange Traded Funds (ETFs) are a remarkable new tool for trading and investing in broad market segments or narrow sectors. ETF trading volume and asset growth continue to soar at record levels. Ideal for speculating in and hedging as well as long-term investing in the broader markets, these index products work together to diversify and balance any global portfolio. Now, one of the top executives (and experts) in the industry reveals the intricacies of the products, how to use them, and what the future holds. Readers will get sample index portfolios and strategies for all market participants--ranging from the short-term trader to the long-term investor; and from the risk taker to the conservative investor.
David Lerman (Chicago, IL) is the Senior Director of Equity Index Products Marketing at the Chicago Mercantile Exchange. He has traveled around the globe on behalf of the CME, giving seminars and workshops to retail and institutional audiences, including pension funds, corporations, banks and brokers on risk management/trading using equity index futures and options.

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Contrary Opinion: Using Sentiment to Chart the Markets Review

Contrary Opinion: Using Sentiment to Chart the Markets
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Ironically the low sales of the book (I inferred from the Amazon sales rank) tells the high value of it, if ones believes the contrary opinion theory, that conventional wisdom, usually the popular one, always put the majority/public to the wrong side.
The author had honestly and successfully delivered what one could grasp from the title: profiting by contrarion opinion (to be precise, bullish/bearish consensus) in futures markets. He explained why the futures market is a money game, why the minority always win, why conventional market wisdom (yeah, your analysts included) always fail...He did that so well. That's all I wanna say.
...

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The Billion Dollar Mistake: Learning the Art of Investing Through the Missteps of Legendary Investors Review

The Billion Dollar Mistake: Learning the Art of Investing Through the Missteps of Legendary Investors
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I gave it three stars. It was a good book, but not as good as it could have been. How could it have been better?
First, though the introduction indicates that the author had access to many of the investors profiled, there are precious few statements in the investors' own words about what THEY THINK about their mistakes. It seemed like most of the book was just culled from newspaper accounts.
Second, I don't know specifically how the author could have avoided this (admittedly, it's the point of the book I suppose), but I'm uncomfortable with the idea of the guy on the sidelines employing 20/20 hindsight to critique the missteps of the guy who was actually in the arena. A great book called the Halo Effect makes the compelling case that so much supposed business analysis is simply ex post narration of what happened as though it was inevitable (if a new product works, they were bold and smart, if it fails, they "strayed from their core competencies"). For instance, in the Cooperman chapter, Cooperman is criticized for playing in an inefficient market with little information. But that's the whole point: homeruns are found in inefficient markets where no one is looking. If he had been right, we'd all say he was a genius. I guess what I'm saying is that I resist the notion that there is always some folly or brilliance at work in a given investment.
Although I'm skeptical that each mistake can be distilled down to pithy truths as the book implies, I still think it's worth reading. The biographical backgrounds in each chapter are interesting and inspiring to any aspiring investor, and the reader will gain insights into how each investor approaches investing generally, even if that's a more complicated thing than a few bullet points can convey.

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Sports Arbitrage - How To Place Riskless Bets & Create Tax-Free Investments Review

Sports Arbitrage - How To Place Riskless Bets and Create Tax-Free Investments
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I bought this book with only two amazon reviews available. My mistake. Hopefully this review will help others to avoid wasting their time and money.
This book is little more than a pamphlet. I might have given this book three stars if it had cost $5. That is all it is worth. It comes in at less than 113 pages before glossary and stuff like that. And those 113 pages are big type with lots of space. Why is that? Because there is not much content. The book can be summarized in 4 lines:
1. read some trivial examples of arb opportunities
2. use ArbSurfer
3. use ArbAlarm
4. oh, by the way, did I mention - please check out my web site?
OK, perhaps I am exaggerating slightly to make the point. But there is simply not much there. It reads like a blog entry published in book form. And speaking of publishing. I believe I will be steering clear of [...] publishing. This book should not have seen the light of day.
Further, the writing is quite poor, to the point where some sentences do not really make sense. And there are typos and page number reference errors also.
Instead of getting this book, just go on the Internet and visit some forums.

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This is the most detailed & comprehensive book available on the subject of sports-arbitrage. It has been written by an expert with 15 years of trading experience who sets out towards two goals: to teach the novice reader all there is to know before embarking on his or her sports-arbitrage trading project, and to teach experienced traders some of the more complex techniques used by professionals.Over 100 pages of this book are devoted to divulging methods to find arbitrage opportunities manually and, by using many real-world examples of trades, the author reveals & explains several techniques which have never before been published and which are as yet unknown to the majority of traders. The theories are explained clearly but what really sets this book apart is its focus on the practical realities of trading. Whether you are a novice or experienced trader, the author's insights will help you towards increased profits from your sports-arbitrage trading project.

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