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"Assault on a Brownstone" - Rewrite of "Counterfeit for Murder" from _Homicide Trinity_. Hattie Annis, who operates a rooming house in New York City, found some counterfeit money and wants a reward, but the case quickly turns into a murder investigation.
"Frame-Up for Murder" - Expanded rewrite of "Murder Is No Joke" from _And Four To Go_. Flora Gallant, the sister of famous dress designer Alec Gallant, hires Wolfe and Archie to break Bianca Voss' mysterious hold over her brother. While questioning an interested party via telephone, Wolfe and Archie hear a murder - or do they? Was it genuine, or was the killer playing games to mess up the time of death?
"Bitter End" - 11-12 July, 1939. Take the plot and cast of Stout's Tecumseh Fox novel _Bad for Business_, replace Fox with Archie and Wolfe, and cut it down to a short story. The entry into the story is different, of course, since Amy Duncan isn't the focus; Wolfe is served with some of the quinine-tainted Tingley's products and takes it as an insult.
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Part Two, "Enduring Principles," guides the reader through Neff's low price-earnings investing methodology. John Neff lists his main ingredients in picking stocks as a low price-earnings ratio (p/e), a 7% minimum earnings growth rate, a desirable dividend yield, and a favorable "total return ratio." To limit downside risk, Neff considers fundamentally strong companies and industries, and cyclical companies with extremely attractive price-earnings ratios.
John Neff low price-earnings strategy begins with a "total-return ratio" formula. Neff estimates a company's earnings growth rate, adds its dividend yield and divides the total by the stock's price-earnings ratio. Historically, Neff has generally looked for stocks with a "total-return ratio" greater than two. Interested individual investors can access and try John Neff's "total-return ratio" formula, with the option of entering up to five company ticker symbols at a time.
"Neff on Investing" continues in Part Three with "A Market Journal." This chapter chronicles Neff's formidable challenges and remarkable successes in his years at the helm at Vanguard under varying business, economic, and market conditions. Nearly one-third of "Neff on Investing" is devoted to Neff's personal history. Readers who wish to get a full measure of Neff's life - and his investment philosophy, methodology and investing track record may wish to purchase "John Neff on Investing."
In JOHN NEFF ON INVESTING, one of the true masters of Wall Street tells us exactly how he compiled this amazing record. With collaborator Steven Mintz, he explains what kinds of stocks he looked for (in a nutshell, low p/e stocks of companies growing earnings in excess of 7% annually, often paying a respectable dividend) and a long list of qualifications concerning just what makes one low p/e stock better than another. (A low p/e company growing too fast is suspect. A dividend yield isn't always a must. Cyclical stocks should offer lower p/e multiples. The list goes on and on.) Just as importantly, Neff shares the wisdom of a lifetime in the investment business, outlining the pitfalls that can trap the unwary investor. (See Chapter 9, CARE AND MAINTENANCE OF A LOW P/E PORTFOLIO.
The meat of Neff's discussion of his investment style is included in the middle third of the book. Armed with this advice, an investor can easily begin to screen the stock market for companies that fit the Neff mold. (MSN MoneyCentral Investor, at www.investor.msn.com, offers a powerful and free screening tool. There are many others.)
Elsewhere, Neff devotes the first third of his book to talking about his formative years in the investment business prior to taking over the Windsor Fund. In the final third of the book, he provides a journal describing his investment activities at the helm of the Windsor Fund. He talks about critical buy-sell decisions, why he made them, and how they worked out ... and also describes the ever-changing market environment in which he was making them. (Reading this book is a great reminder that large-cap growth stocks don't always lead the market, as they have for the past five years. As such, it should help investors be better prepared the next time market leadership changes.)
If you had the chance to sit down and talk with John Neff for a few weeks about his career and his investment style, what you would get, though likely not so well structured, would be this book. I'd love to spend those weeks with John Neff. But I wouldn't give up the chance to have read this book, either. Few investors have achieved more than Neff, and his story deserves a place on any investor's reading list. ###
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Julia "Atlantima" Butler
Master in "The City of Atlantis" ~ Neopets.com
The Lost Empire Poet ~ FanFiction.net
Diehard A:TLE fan ~ AIM
Devoted follower of St. Milo
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This book is paced as furiously as any mystery, but it carries the depth of true literature. This is simply no mystery to be solved or adventure to be told. The Moving Target is the sordid tale of a sade family the growth of a young woman.
Who knew Ross MacDonald was so good? I guess I'll have to order more books by him. If Hammett gave birth to noir and Chandler taught it how to walk, then MacDonald provided the education. I'm very impressed!
Who kidnapped wealthy alcoholic Ralph Samson? Was it the cult leader Samson mysteriously gifted his mountain reteat to? His bitter cripppled wife? Or perhaps his youthful pilot or aging lawyer trapped in a love triangle with Sampson's daughter. It's up to Archer to find out, and take a few beatings on the way.
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That he succeeds in telling a baseball tale in a time when he himself knew no baseball and weaves in some truths about the racism that existed in what was, even there, a multi-cultural environment is a tribute to his inventiveness.
This book is best read aloud with a Southern accent. So, if you aren't prepared to "work" at it a bit, you'll probably be disappointed. Otherwise, you'll find yourself noticing the width of the Pembina River-- next time you're on the Edmonton/Jasper highway.