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Resuming, this book is fantastic: it isn't as pretty-looking as previous Trinity stuff, but it's essential to any serious Trinity player.
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Richard Paul Evans is a gifted writer. I hope he writes more books like this one.
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It is a story of a young American woman who marries an Italian man, moves to Italy, has his child and lives a very lonely life in a loveless marriage. She meets an American man and they become fast friends and soon fall in love.
The story is wonderful and you will find when you finish the book you wish it was not over. I fell in love with the characters. Well at least the main characters, Eliana and Ross. Eliana's husband left a little to be desired.
Mr. Evans is a superb story teller and I will definetly read more of his books. Marvelous!!!!!
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So what brings it down to 4, as compared to other Shakespeare? Primarily a few places where it demands a bit too much suspension of disbelief; the language is some of Shakespeare's best, and is comparatively easy for a modern reader (I found most of the footnotes to be sufficiently unnecessary to be actually more distraction than help). But for one thing, if Richard is withered, hunchbacked, and deformed, how is it that he has been able to kill so many of his victims in battle? For another thing, is it REALLY plausible that Princess Anne would be persuaded as she was by someone with nothing more going for him than Richard? To paraphrase the scene,
Anne: You killed my husband and his father! I hate you I hate you I hate you!
Richard: But I only did it 'cause I'm hot for you, babe! Wanna marry me?
Anne: Welll...maybe. Let me think about it.
(And, in fact, she marries him. Just like that.)
Also, there are virtually NO characters in this play that are sympathetic, save perhaps for the two murdered children and Richmond, and we really don't see enough of them to feel much connection; it dilutes the effectiveness of the portrayal of Richard's evil when almost all of the other characters are, if not just as bad, certainly bad enough.
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One word why most financial advisors and mutual fund company advertising do not trumpet index funds - greed - from the the money they skim off the top of your investment dollars in the managed funds.
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Let me begin by saying that this book has many flaws. An outstanding book on how to be a very successful index fund investor has yet to be written. But this book goes much further in that direction than any other book I have read on the subject. If you also read Stocks for the Long Run and Common Sense on Mutual Funds, I think these will clear up the missing elements in this book. Some embarrassing typos still remain, but they are annoying rather than fatal.
The book has two parts. The first part compares indexed mutual funds to nonindexed (or actively managed) mutual funds. The second part looks at 5 steps to creating greater wealth using indexed mutual funds.
The arguments in part one basically document that indexed mutual fund returns after taxes and after expenses have been higher than almost all managed (nonindexed) mutual funds over long time period. The reasons mostly relate to higher expenses due to management fees, marketing costs, and commissions caused by more turnover of stocks for the managed funds, disadvantages of a large portfolio for buying and selling, and inefficient tax effects of high turnover in taxable accounts. The authors also look at the effects of perfect information, and how much return you get for how much risk. These arguments are well done and accurate. Two elements that were new in this book included looking at the arguments that Peter Lynch and other active managers have made against indexed mutual funds, and looking at risk versus reward.
The five step process in the second part of the book is:
(1) Get a personal financial plan (with goals stated in dollar terms)
(2) Get a personal investment plan (a strategy to meet your goals)
(3) Invest with a diversified portfolio of index funds, tailored to fit your needs
(4) Get maximum benefits from the tax laws to delay and reduce taxes
(5) Buy and hold your portfolio, after starting as soon as possible.
Each of these points is somewhat detailed with descriptions of various ways to go about it, alternative sources of advice and information, and ways to make contacts with the advice and information. More could have been done on the first category, but the latter two were well done. The reasons for these factors are better explained in most cases in Stocks for the Long Run than here.
I particularly liked the advice to create a worldwide portfolio of indexed funds. Most books on indexing miss that point. The argument is flawed here, however, in only looking backward at what would have worked best in the past. If the rest of the world continues to grow its economies faster than the United States, the best returns will probably be from being overweighted into international indexed funds to reflect the future balance of market values rather than the current one.
The main weakness of the second part is that it lacks much quantification. But if you read the Bogle and Siegel books that I suggested above, those will more than fill in the gaps for you.
You should also be aware that recent evidence suggests that Malkiel's insistence on totally efficient equity markets is coming more and more into question. Our own research at Mitchell and Company supports the growing skepticism. However, active managers have been slow to adapt to the new information about where the markets are inefficient. Eventually, new indexed products should develop to take advantage of these inefficiencies. The main weakness seems to be a preference for basing indices on the financial data that active managers prefer. That's simply our old friend the disbelief stall in action. If the measures that active managers use do not beat the averages, why should indices based on those same measures be the best way to construct an index?
Like all books on index-based investing, this one is long on the arithmetic and short on the psychology needed to be successful. Most people know how to make more money than they do in stock market investing, but do the wrong thing anyway. Until someone makes a more psychologically appealing case for indexed mutual funds, most people will continue to favor the lower-performing nonindexed funds.
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For all this I don't think that Evans says much for all the ink he has spilt. What perseveres through Evans' prose is nothing more (but perhaps nothing more is needed) than Evans' belief that we can do history, we can get at what happened in the past and we can deal critically, and beneficially, with the materials at our disposal. Evans writes what amounts to a defence of "doing history" as oppsed to theorising about history. Indeed, Evans is not hot on theory (he should perhaps steer clear of it in future) and his less than ample interaction with his opponents of the postmodernist persuasion in this book suggests to this reader that he is more of a distant acquaitance of their work than an intimate. A historian's rule of thumb comes into play here: if they mention something but don't interact with it to any great degree then assume they don't really know much about it.
Evans is largely an irenic and uncontroversial supporter of a broadly conservative historical approach. He is in defence of all the traditional (that is, post-Enlightenment) things such as "facts", "objectivity" and "truth" whilst espousing a weak acceptance of some postmodernist proposals. Evans' usual trick here is to claim that actually the benefits of a lightly-worn postmodernism (such as accepting that historians affect and colour their own historical researches) are actually things that all real historians knew all along anyway. This is a neat, if obvious, trick and sometimes he almost gets away with it.
I have one major complaint. Evans repeatedly refers to "postmodernist hyper-relativism" but he never tells us what this is either briefly or, which would be more satisfactory, in detail. Once again, Evans might be proffering a phantom menace. At the very least it allows us, story-like, to conjure up our own historical demon to fight against as we read. In the end one is left with the conviction that theorists should theorise and historians like Evans should get on with DOING history. Personally I think that Evans' history books are a better defence of "history" (whatever that is, again he never defines) than this book turns out to be.
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The deconstructionist critique of history, however, has important insights to offer, however. "History" in its classic form, is a dramatic, interpretative narrative. A simple-minded claim to "objectivity" in history is unsupportable; the "objects" of real events are incredibly numerous, long-gone and did not really occur within a context of future events. "History" is always highly selective in retelling events, and always looking for meaning, drawn from subsequent events. ("The historian remembers the future and imagines the past.") Evans will not or cannot let loose or revise his belief in "objectivity" as a standard of value, however, and rails against the deconstructionists as "extreme relativists" for trying to make him consider it.
Without fully crediting the deconstructionists, he adopts their methods to demolish the pretentious historiography of a previous generation, represented (on the left) by Edward H. Carr and (on the right) by Geoffrey Elton. Although it is clear that he aspires to provide a replacement for the classic works of Carr and Elton, for use in graduate seminars everywhere, the book he provides leaves much to be desired.
Comfortable with the methods of the professional interpreter and processor of historical source material, and defensive of the value of those methods, he seems to be at a bit of loss, when it comes to the methods of composing a narrative. (It is, of course, at this higher level of abstraction, where the deconstructionists have aimed their missiles.) Rather lamely, he ends his book, with the defiant assertion, ". . . I will look humbly at the past and say, despite them all: it really happened, and we really can, if we are very scrupulous and careful and self-critical, find out how it did and reach some tenable conclusions about what it all meant."
I cannot help, feeling great disappointment. Mistaking the deconstructionist criticism as "relativism," he has foregone the opportunity to really come to grips with the fundamental nature of the historical enterprise. What is the nature of "historical truth"? It is certainly not "objective" in any simple-minded sense. No historian can be without a point of view, nor should any be allowed to pretend to be. The meaningful interconnections created by a dramatic narrative have no correspondence with any observable "event" in the past -- they could not possibly have such a correspondence, for a variety of reasons, literary and scientific. (Hume established that the operation of cause and effect are never directly observable in the 18th century! You don't have to be a post-modernist to see that the "truth" of history can be problematic.)
Evidently too frightened by these challenges to think, Evans brands the deconstructionists as extreme relativists, and proceeds to demolish the value of extreme relativism. Evans spends a lot of time shooting fish in the barrel of "extreme relativism," without realizing that the postmodernists and deconstructionists are not swimming in that barrel. He delights in turning the methods of deconstructionist critique on the critics, demonstrating to his own satisfaction, if no one else's, that the deconstructionists are hypocrits at best, for denying "any" value, and then turning around and asserting the value of their own frameworks. It never seems to occur to him that the deconstructionists, despite their glib provocations, are not hypocrits, because they are not, in fact, extreme relativists.
Failing to tackle the epistemological challenges, Evans misses the opportunity to begin laying a solid foundation for historiography. It is terribly unfortunate, because he has intelligence, wit and the great advantage of professional competence and experience, all of which are evident throughout this book.
He offers some useful insights and comments along the way, and his passion is evident. I still wish that,instead of the courage of his convictions, he had shown more courage to question his convictions.
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In this delightfully polemical book, Richard Evans does not try to engage the writings of the major postmodernists. Do not expect to find counterarguments to the writings of Derrida, Foucault, Lyotard or de Certeau. It is in the writings of thinkers like Hayden White, Frank Ankersmit, Dominick LaCapra, Keith Jenkins, Elizabeth Ermath, Joan Scott, etc. that the major claims of the postmodernists have been made for history in the English speaking world. It is with their writings that Evans engages in debate. This does not, however, put him in the camp of conservatives like Gertrude Himmelfarb, John Vincent, David Harlan and Keith Windschuttle.
Evans is arguing for a middle position- one that emphasizes the recalcitrance of the "facts", i.e., the historical records. Evans denies that all of history is interpretation and that no one interpretation is better than any other. He believes that careful and honest shifting of the historical record will show some or one interpretations to be better grounded in that record than others. On the other hand, he is excited by some of the possibilities for history that have been opened up by those working historians whose work he admires and who are identified with the postmodern camp, e.g., Simon Schama, Theodore Zeldin and Orlando Figes.
One of the main points of his critique is that Evans feels that postmodernism removes the possibility of any sort of critical perspective- he reiterates the old point that if there is no grounds to prefer one interpretation over another, if there is no such thing as a fact than there is no reason to prefer the views of the standard histories of the Holocaust over those of a denier, e.g., David Irving.
This is not the best of the books I have read recently on historiography. Berkhofer's Beyond the Great Story retains that distinction. It does have the advantage of being very well written, very clear in it's presentation and quite enjoyably feisty. Evans' style is like that of a good lightweight- constantly circling, jabbing his opponents, sensing a weakness and then throwing the combination.
If you think my pugilistic metaphor to be inappropriate, ... for a series of short essays Evans wrote in reply to his many and equally nasty critics. This site is probably the best way to figure out if this book is for you.
As for me, I have come to realize that this is a debate without end. Evans did not really settle anything for me. Neither has anyone else I have read lately. He does give you a lot to think about and he points the reader in the direction of a lot of interesting work done by other people.
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It's clear from some of the statistical material prsented that Visa particpated in the book.
Ever see JAG? It's about a real portrayl of the Navy & Marine Corp as this is of the card industry.
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To many a layperson, paper money has intrinsic value ostensibly because it is backed by gold. That, is furthest from the centre of gravity. Since Bretton Woods, paper money has not been backed by gold and has absolutely no value. The "value" of paper money is perceived and has "value" only because governments say so and because we believe in it. In fact, paper money forms only a very small portion of the money that is in circulation. These days, money is in the form of digits, bits and bytes - expressed as numbers in some computer harddisk.
Paying With Plastic explores a new form of money and how credit cards are the latest form of money - evolving from metal coins, bills of exchange, and paper money. The book traces the early and painful development of what was initially a clumsy mode of payment to what is today one of the most effecient, organised and widespread form of payment.
Paying With Plastic is the leading book of its kind - thorough, yet readable. If you are interested in the concept of money and how the credit card system works, then this book is for you.
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The school's "principals" are Lady Sneerwell and a man named Snake, who like to collect gossip about their neighbors and others in London society; one of their cohorts is the brilliantly ironic character Mrs. Candour, who openly reprehends idle gossip but blithely participates in it anyway. One of their favorite subjects of gossip is the Surface brothers, Joseph and Charles. The popular perception is that Joseph is responsible and respectable, while Charles is a wastrel and a miscreant.
The Surface brothers' uncle, Sir Oliver Surface, returns to London after spending many years in India, hears the rumors about his nephews, and decides to verify them for the purpose of choosing an heir between the two. Since he has been gone so long that his nephews would not recognize him, he visits them incognito. Posing as a moneylender to Charles, and as a poor relative to Joseph, he discovers that his nephews are not quite of the natures he has been led to believe.
Sheridan employs some typical comedic devices like love triangles and hiding characters, but for the most part this is an inventive play that picks its targets well and hits the bullseye every time. Considering it was written at such a turbulent time in England's history, it's interesting that social satire still managed to break through greater national concerns and be successful and appreciated.
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The Dover Thrift edition has no introduction or analysis. Intoduction and analysis are of course not necessary, but in some situations they are nice things to have.
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The only negative point that I can make is the information on Windows NT platform is outdated since Microsoft doesn't support NT on Alpha anymore.
The examples are well done in C and ALPHA assembler. The author covers both the VMS & Unix platforms.
I highly recommend the use of this book. It stays close by on my bookshelf.