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The author provides helpfull tricks like how to tell if a can of finish is an oil or a varnish. (let some dry on a piece of glass and check the results). How to treat pine before staining to prevent blotches. He even revleas the ridiculous labeling practices of the finish makers that often make it hard to buy what you meant to buy. Did you know that many rubbing oils are varnishes, not pure oils?!?
The author has clearly studied the science of finishing. He explains the whys and hows with enough detail for an engineer like me without overly complicating matters. The pictures are helpfull and well done.
This book is definetely on my "must have" list for any woodworker. I just can't say enough good about this book.
Bob starts by systematically explaining the logic and science behind different types of finish, including oils (varnish "oils" too, polyurethane and such), shellac, lacquer, conversion, waterbase, waxes, and more.
He also explains application methodology IN DEPTH, such as, french polishing, brushing, spraying.
He explains shaping tools (these include scrapers with sharpening methods, spokeshave devices, steel wools, rubbing compounds, sandpapers (all types)) and how to use them to achieve results.
He then goes in depth into suggestions for different woods, limited exotics and many domestics, as well as good rule of thumb's.
Main positives to this book: Mr. Flexner has given in depth and yet layman's explanations of how finishes work and the chemicals involved. This is integral to applying a good finish, in my opinion. This book could stand alone as everything a fledgling finisher needs to tackle any project.
Main negatives: Mr. Flexner is very informative and systematic. That said, he is obviously not a writer by trade. You WILL find yourself treating this as a reference book, its not a "sunday read" for the woodworking inclined. Several times (not many, but a couple) he contradicts himself (there is a passage that "debunks" the myth of better protection from thicker film build of a finish, and then later he suggests building the finish to a thicker film for "better protection...")
These negative in my opinion NO way detract from the book. It is an incredible reference tool for the amateur, and marks a necessary item for the professional finisher's bookshelf.
JTAcoustics
Plus, it is more comprehensive than other wood finishing books I've seen. It explains in detail the different application techniques, when and how to use them. There are plenty of helpful illustrations, including color photo examples of different stains and finishes on various woods. So it is a great reference source when working on a particular project and trying to decide the best finish or application technique to use.
I keep looking for other books on wood finishing that would add to what is in this book. But I haven't come across any yet.
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My only problem with the book comes in the form of the rather interminable 24-page introduction penned by Mr. Cunningham. Frankly, I barely made it to the starting line. My advice to you, the prospective reader, is to graze the first *three pages* of the introduction, and then skip right to Buffett. Pages four through 24 feature Mr. Cunningham telling you what Buffett is going to tell you. The only redeeming aspect of this otherwise useless overhead is that it clearly demonstrates the power of Buffett's writing. Cunningham completely succeeds in draining the text dry of Buffett's folksy, accessible style.
Just let Warren tell the story, please.
Buffet has the strangest of powers in that he comes across as a homespun billionaire. Now that's different from just being homespun, the way Sam Walton was, or just being a billionaire, like Bill Gates. Buffet flaunts his wealth and his professional love of money, all the while expressing essential, eternal truths in simple, earthy phrases. When I saw Buffet speak at business school he tapped on the microphone to test it and said "testing, testing, one-million, two-million, three-million." It is that natural genius for combining wealth, truth and comedy that is most vividly on display in "The Essays of Warren Buffet.".
Of course, these timeless, simple truths are all known - the way we know that "eat less, exercise more" is how to lose weight. And yet, and yet, it takes Buffet to remind us to "think like an owner"; invest only in management that you "like, trust, and admire"; and buy pieces of business (stocks) when it costs less than the intrinsic value.
There are the excellent statements of managerial accountability, business valuation, and capital structure. Helpful warnings on accounting shenanigans, trading costs, and paying heed to Mr. Market. For clarity, brevity, wit, truth, and learning, there is no business writer in the 20th century that compares with Warren Buffet.
Buffet's sayings are irreplaceable (and I am not cherry picking here, but merely highlighting a half-dozen of the hundreds of bon mots in this book):
"On the other hand, working with people who cause your stomach to churn seems much like marrying for money - probably a bad idea under any circumstances, but absolute madness if you are already rich."
"The speed at which a business success is recognized, furthermore, is not that important as long as the company's intrinsic value is increasing at a satisfactory rate. In fact, delayed recognition can be an advantage: It may give us the chance to buy more of a good thing at a bargain price."
"Just as work expands to fill available time, corporate projects or acquisitions will materialize to soak up available funds... any business craving of the leader, however foolish, will be quickly supported by detailed rate-of-return and strategic studies prepared by his troops"
In regard to acquisitions, which usually fail to earn the cost of capital: "The managers at fault periodically report on the lesson they have learned from the latest disappointment. They then usually seek out future lessons."
"One of the ironies of the stock market is the emphasis on activity. Brokers, using terms such as 'marketability' and 'liquidity," sing the praises of companies with high share turnover... but investors should understand that what is good for the croupier is not good for the customer. A hyperactive stock market is the pick pocket of enterprise."
On acquiring bad companies for cheap prices: "In my early days as a manager I, too, dated a few toads. They were cheap dates - I've never been much of a sport - but my results matched those of acquirers who courted higher-price toads. I kissed and they croaked."
Buffet is approaching literature here - the nuance involved, and the delicious counter-pointing of toads, dates, sport are pitch-perfect. The payoff - "I kissed and they croaked" is as fine a line of found poetry as exists.
Buffet, having studied at the feet of the master of investment literature for the first half of the 20th century, has ascended to become the master of investment literature, unqualified. This is a book that will please Buffet-maniacs, investors, finance newbies, and anybody with an interest in the articulated evolution of managerial capitalism that has separated the finance and capital allocation specialties from the operational and day-to-day specializations.
In closing, it's appropriate to quote America's great investing wag quoting America's greatest political wag - the subject is, as always with Buffet, simple maths and simple truths:
"Managers thinking about accounting issues should never forget one of Abraham Lincoln's favorite riddles: 'How many legs does a dog have if you call his tail a leg?' The answer: 'Four, because calling a tail a leg does not make it a leg'."
Enjoy this book.
That is the key legacy of Larry Cunningham's Essays. He has artfully stitched together Buffett's musings over the past 20 years and created an extraordinary primer that both individual investors and corporate managers will find extremely useful. I will resort to this book time and again for illumination and refreshment.
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I have read and heard many of the things Cunningham wrote, but I found his presentation be to be a concise and terse one. I enjoyed that. It is the kind of book one can go back to find something quickly for further exploration.
Each chapter focuses on a theme, such as the spiritual journey, meditation and contemplation, asceticism, living in the presence of God, solitude in community, or friendship. In the selection of themes and in their treatment, the discussion leans heavily towards established monastic, medieval, or post-Reformation traditions. This holds true even though the authors may take up modern innovations, such as Gustavo Gutierrez' liberation spirituality or Thomas Keating's centering prayer. Unfortunately or not, given this tendency, very significant modern developments get short shrift--for example, the "little way" of St. Therese of Lisieux.
I was delighted to see the authors pick up shiny gems from the Catholic classics like shells on a beach stroll. Turning the pages, I happened upon the penthos of the desert fathers, the epektasis of St. Gregory of Nyssa, the schola of St. Benedict, the contemplatio of St. Dominic, the discretio of St. Ignatius Loyola, and the gustos of St. Teresa of Avila.
Interspersed throughout the text I came across citations of the likes of The Brothers Karamazov, The Love Song of J. Alfred Prufrock, or Conjectures of a Guilty Bystander, making the book an engaging display wherein the modern is lightly hung upon the traditional like decorations.
This book was intended as an introductory overview. For a fuller discussion, the reader should consult the original texts and scholarly works, for which the authors provide a modest bibliography. Excluded as an important reference is Jordan Aumann, O.P.'s Christian Spirituality in the Catholic Tradition (1985), which I would strongly recommend as a historical survey.
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In fact, we are spared math, and we are not given practical counsel, either. That was what I looking for, as the title suggests. The title should be How Can The Smart Money Be So Dumb.
Instead, this is an interesting run-through of recent horror stories on Wall Street from the Internet bubble to IPO's to pro forma accounting and Enron. Behavioral finance is discussed here, but Why Smart People Make Big Money Mistakes by Gary Belsky and Thomas Gilovich is far superior.
Or read Buffett: The Making of an American Capitalist by Roger Lowenstein. Or John Neff On Investing instead.
Mr. Cunningham is one of the new wave of Buffett explainers. (Where were you people 15 years ago when there was money to be made buying Berkshire?) And why does someone so incisive, so downhome funny as Mr. Buffett need so much explanation?? (Try Cunningham's The Essays of Warren Buffett: Lessons for Corporate America or the Berkshire Hathaway annual report.)
Unfortunately, the author lets slip his idea of a five-year holding period for stocks. That may turn out to be good advice, but which stocks would he choose to hold? We have no idea. (Tech stocks, big winners 2 years ago, have crashed back down to their 1997 prices. And non-tech Walt Disney is well below its 1997 prices.)
I think Mr. Cunningham is an extremely brave and patient investor.
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Because Merton was incredibly prolific, it's hard to know where to start--so many books, so many topics. Merton wrote on prayer, contemplation, solitude, war, monasticism, art, etc.
I recommend this book as a starting point You can read this anthology and go off in various directions depending on your particular Merton area of interest.
Additionally, Cunningham's introduction is worth the price of the book. He is an astute scholar of Merton and brings much wisdom to Merton's life and writing.
If you like Thomas Merton, buy this book. You won't be disappointed.