Readable account of the Orange County financial blow-up. Particularly interesting is the description of Robert Citron, the hapless college dropout who controlled billions of dollars of public money. Also fascinating are the prescient comments of the obscure accountant who ran against unbeatable Citron in the election prior to the disaster. Jorion manages to educate the reader, in a very painless way, about the institutions of the bond market (such as repos).

On the minus side, the book is not particularly well documented (in terms of, for example, the graphs and the sources of the data) and some chapters seem suspiciously like lecture notes, hastily adapted to a book format. Still, an enjoyable trip to the dark side of financial market.

This book tells the story of a 1.4 billion$ financial loss by the Orange County municipality.
The author explains very clearly what happened.
The municipality, through its treasurer, speculated that interest rates would stay the same or fall. Into the bargain, he leveraged his position with a factor 3. The means for the speculation were repos on bonds.

When the interest rates went through the roof (from 5,25% to 8% = + 52%), the value of the collateral (the bonds) for his position fell (with a factor 3). He got a margin call, but couldn't pay it. The biggest part of the investment (held by FBCS) was liquidated with a phenomenal loss. Only Merrill Lynch didn't cover their position.

The author gives excellent explanations on some very specialized investments like reverse floaters and other high tech financial operations of which the value can only calculated by partial integrals.

Food for investment bankers.

Jorion should be commended for his insightful, first-class treatment of this history making event. Big Bets... is a fast, fluid read that is devoid of technical terms and is written in an active, conversational and explanatory voice that the typical layman can readily understand. In this book, which reads more like gripping fiction, we are treated to an excellent character sketch of the key culprit in the Orange county financial fiasco, Robert L. Citron, his rise to power, the environment he worked in, the exotic financial tools he carelessly wielded, an unforgettable cast of financial hucksters and ill-advised power wielding greedy misfits, and the ultimate downfall of the Orange county financial safety net and its after-effects.

From this book, we learn that Robert L. Citron was head of a large portfolio, had no oversight, and an inflated ego. His superiors and fellow investment participants (such as the county school district) knew full well what he was doing, but allowed him to continue unsupervised because of his past stellar performance- much of which was due to pure luck and favorable market conditions. We also learn that Citron, much like Nicholas Leeson, the orchestrator of the fall of Barings, was a financial neophyte. While on the one hand believing that he was fully invested in bonds, Citron had taken a heavily leveraged position in very exotic derivative securities, proving to Jorion's point that he really did not have a clue as to what he was doing.

We also learn that Citron (nor the people above him and his investment participants), who had no real background in finance, did not know the difference between market price and face value, nor did he know the difference between an option on an asset and the outright ownership of an asset. Based on one very bad bet on the movement of interest rates, Citron fully invested Orange County's finances in derivative securities that he did not understand at all, and compounded the problem by leveraging his position (basically using a little money to borrow a lot of money) to the extreme.

After reading this book, those of us who believe that our investments, from the retirement funds managed for us by fund advisors and our places of work to our bank accounts and our kids' education funds, are safe should have our heads examined. People such as Citron were not financial gurus, that is certain, but as the more recent derivative led failures at hedge fund Long Term Capital Management (which included the two Nobel laureates who literally wrote the book on derivative pricing on its stellar team of rocket scientists) and Bank of America demonstrate, no one is truly safe.

This book contains some really wild facts about weather & weird & odd natural causes. Its a great book aside from the exclamation points at the end of sentences stating that thousands of people died.

This book is split into sections of:
-Weird Weather
-Castastrophies Big & Little
-The Violent Earth

Along with paragraphs explaining each odd event, (almost) every page has a "Laugh Line" or "Didja Know." I encourage you to get this book, filled with fun facts.

I became fascinated with this book when my friend and I had an ongoing bet about whether or not it could really rain frogs, like it did in the popular movie "Magnolia". This book helped me win the bet, and also helped me brush up on really interesting weather facts. Great knowledge for a great price!

This is a great book about natural disasters. The facts in it are weird and captivate my imagination. All books I have read in this series are intriguing. Once I start reading them I can't put them down.

Imagine you want to take a can of diet Coke out of your trunk and find a body instead. That's what happens to Merry Kramer who just moved to Amhearst, Pennsylvania to work as a reporter for the local newspaper and to forget about her ex-boyfriend. After the first shock she is interested in finding out who killed the man in her trunk. Not only because she is involved but also because it's now her story. The first thing she finds out is that now someone tries to kill her. It seems as if the killer thinks she knows something. And why is Andy, the main suspect, hiding since the day she found the corpse? Is he the one who tries to kill Merry? What about the death of Trudy, the mayor, who died in an accident she had at home? And why is Merrry's boss behaving so strange towards her? Luckily Curt, a painter is always with her to protect her. But then Andy wants to talk to Merry alone! She agrees and the showdown can start...

I enjoyed reading this book from the first to the last page. It's a mistery where as reader you always get the story from the point of view of Merry. So you get the same information as Merry and you can guess with her who did it. And it's not untill the showdown that the reader and Merry find out what happened. I like misteries like that. The book has only about 230 pages so it's not too long and quick and easy to read. No long hold ups with unimportatnt information. I really recommend this book.

This is a great mystery. Merry is a well drawn character who it's really easy to like. I loved the attention to detail down to the handbell scene. The story had a couple surprises for me. I had an idea how it would end, but enjoyed the ride so much that I really didn't care. The other plots involving her personal life are great and add to the story so much. I'd recommend this book to anyone looking for a great mystery.

I picked up this book by random one day when I was my local christian bookstore. I started reading it and I couldn't put it down. The book is about a rockie reporter for a local newspaper who just happens to be a sleuth as well! The main character's name is Merry Kramer. One night as she was doing a human interest story she finds a dead body in the trunk of her car. When another dead body is found Merry becomes suspicious. When realize that she is the next target she realizes that she knows something the murderer wants to be kept hidden.... I'm not telling anymore because it is just too exciting.

This book is a 500-odd page abridgement of Macaulay's magisterial History of England. T.B. Macaulay is one of the supreme victorian stylist, if not unquestionably the greatest. He is also one of the forefathers of modern liberalism. The prose is brilliant, and Macaulay has bettered his master, Scott, in his renderings of a bygone era. That much being said, we deplore the need to abridge this masterpiece. Five volumes might sound daunting, but Macaulay is entertaining enough to sustain our interest throughout the length of the book. The abridgements are so extensive that the introduction is reduced to 3 pages, and the recreation of the reign of King Charles II is entirely lost. Buy this book by all means, but if you can find the full version, give that a try. A wonderful companion to this book is Hume's History of England.

This was my first taste of Macaulay and I'm an aficianado! I was exhilirated by the accounts of English unanimity and activism in the face of a royal tyrant. I was refreshed by a volume of history that, for its honesty, scholarship and its spirit of freedom, was so unlike the many insipid, politically-correct, and poorly-argued texts of modern historians. I was inspired to read of an actual case of widespread resistance to arbitrary government which succeeded by its sheer tenacity employing, however, moderate and unfanatical means. I was enlightened by a view of the Highlander culture and Scottish scene generally(in the 70-odd pages of chapter 16) that had a very realistic feel to it and was a great antidote to the more fantastic intimations of the popular Mel Gibson movie regarding an earlier era in Scottish history. The descriptions of battles are detailed, interesting, and a needed reality check for those who have not experienced warfare and think of it as a big video game.

Although there was an unpleasant aspect of the book for me(Macaulay's views of Penn) that didn't quite ring true, this book is one of the truly classic histories of all time!

After Edward Gibbon there is no historian in the English language who can hold a candle to Macaulay. His prose is so luminous it practically glows in the dark. This abridgment focusing upon the "Glorious Revolution" of 1688 sums up Macaulay's assesment of its events and meaning. Not a revolution for aristocrats only, but a revolution that increased and secured the liberties of all English people. Essential reading for all lovers of history.

Overall, this was a decent book. Summer Shadows deals with family issues, overcoming health problems, religion, and even has a nice romantic twist (or two) intertwined in it. Characters are well developed so that, when reading about different problems that certain characters are faced with, the reader can almost see the whole situation in their mind thus, giving a better appreciation for scenes whether they are meant to be heart-wrenching or entertaining. There are also many different types of characters in this story. The selection ranges from a stubborn, independent woman to grouchy neighbors to overprotective parents (etc, etc, etc!!!) and each part is played very well.
The main character of the story is Abby. She is in the process of breaking free of the chains (her parents) that have held her in bondage quite long enough, in her opinion. Her overly protective parents feel that Abby cannot survive at all without them there, guiding her every step of the way. These two opinions, being as opposite as they are, clash to a very strong degree when Abby moves to Seaside and in the end, does get her freedom, which she fights so hard for. While living in Seaside, Abby is the witness to a hit and run accident but afterwards suffers from some sort of amnesia and cannot remember the driver of the involved vehicle. The little girl that was hit brings back painful memories from Abby's past, which causes her even more grief over not remembering what has happened. As time goes on, Abby grows an interest in her landlord, Marsh, which cannot be ignored. Why ignore it though, when Marsh has the same feelings for her? These two very different people fall in love and help each other in many ways.
The plot of this story is great, and the ending is almost as great, aside from that the revealing of a villain who should have been discovered at the end was given away too early in the story, thus leaving no big surprise at the end because the reader already knows who is to blame. Aside from that, the book has a strong, interesting ending that will keep readers intrigued up to the very last word.
The epilogue is also enjoyable because it lets the reader know about everything that happens after the end. Leaving on a good note, readers are excited for the next book to be released.

I figured Gayle couldn't possibly top Spring Rain, but boy, was I wrong! Summer Seasons kept me reading from the time I opened it until there was nothing left to read, and then left me upset that Fall and Winter aren't written yet!

I thoroughly enjoyed Abby's quest for freedom, Marsh's quest for peace and quiet and Rick's quest for something real. I also enjoyed the fact that the "mystery villain" actually WAS a mystery for quite a bit of the book, and that I was surprised to learn who it was. And I'm still laughing at the concept of a cat named Puppy!

This book is a good entertaining read, but it's also full to the brim with useful, edifying subject matter, a perfect blend of romance, intrigue and good, solid Christian faith. In other words, you'll enjoy reading this, but be careful- you just might learn something!

This second book in Gayle Roper's Seaside Series is as entrancing and enjoyable as the first. I love the "obscure" women the heroine quotes as motivation for herself and also the idea of the hero having a "dual personality" - as did the villian! I was hooked from the first pages and couldn't put it down. I empathized with Abby's problems with her mother and Marsh's with his dad - all of us had troubled times occasionally growing up. Abby is endearing not only to adults, but obviously cares for kids and pets, too - and kids and pets always know who the good guys are. The relationship with Rick and Celia was a great parallel romance. A highly recommended, great read!

Henry Picker was a young German officer who knew stenography and took down Hitler's Table Talk for a period of four years during World War II. This book was first published in 1951 and has enjoyed many reprints in the intervening years. This edition is expertly translated and has some revealing footnotes which leads the reader to other sources.

Though Hitler is invariably portrayed as a raving madman in American "docudramas," he could also be a thoroughly charming and intensely charismatic private companion in his off hours. A man capable of seducing 65 million Germans and of his monumental crimes, had to possess an elemental force both inexplicable and fascinating. This book provides some clues to Hitler's personality, though in fairness, his mesmerizing mystique had been dulled by drugs and megalomania by 1941. He was surrounded by sycophants, but there were some perceptive and intelligent people in his milieu, most notably Joseph Goebbels. Hitler's secretaries were also articulate and intelligent ladies. However, his chauffeurs and other aides, such as Linge and Schaub, were hardly junior Einstein's.

Hitler's monologues are faithfully presented here and he emerges as a genius in certain areas (his knowledge of architecture and art was encyclopedic), and as a sexist boor in other realms. His believed himself to be omniscient and believed further that he was a messiah selected by Providence to save the German nation. Anyone harboring such delusions is bound to sound arrogant and insufferable on occasion.

This is a must have book for anyone interested in Hitler, his entourage, or his paralyzing effect upon other people. It's chilling that Hitler casually discussed trivialities while Europe was being torn asunder because of one man's twsited ideology.

This is a rather large book, but I devoured it literally overnight. The intelligence Hitler displays in his conversations is almost overwhelming. Even his harshest critics cannot deny what a brilliant mind he had. A self-educated man, he possessed knowledge of a broad range of subjects, sometimes knowing even more about certain things than men who were educated at universities. Before I read this book, I knew he was smart. After having completed the book, I was convinced of his genius.
There are 3 books which I personally consider "essential reading" to students of Hitler's life. The first is an out-of-print masterpiece written by August Kubizek (and the fact that it is out of print in the USA is really an indicator of the general public's blissful ignorance when it comes to matters of the TRUTH about Hitler's early life). The second is "Mein Kampf". Last but not least is "Hitler's Table Talk". I also strongly suggest to all bilingual readers out there to read this book (entitled "Hitlers Tischgespraeche") in the original German, as Henry Picker offers some really insightful remarks on the Fuehrer as a person. Hitler's Table Talk promises not to disappoint!

A fascinating window into Hitler's feverishly powerful,original , jaundiced mind and the two obsessions which consumed him:1.mythic glorification of the Germanic race and 2. "lebensraum" in the vast Russian steppes.One is struck by his cold,steely intelligence but repelled by its rigidity as well as lack of grace & warmth.There is a lot of repetition.He has dogmatic views on almost every subject under the sun, no matter how trivial (eccentric but interesting!).A striking feature of Hitler's thinking is his megalomaniacal fixation on sheer scale and size___he is always planning in terms of CENTURIES,BILLIONS,THOUSANDS (of miles and tonnage) etc etc.Furthermore the quality of these monologues tend to deteriorate,gradually but perceptibly, as we move from '41 to '44.You cannot understand Hitler without reading these table talks.An entertaining read.

Steve Roper is meticulous. This is an excellent history, and I feel positive and secure that Mr. Roper's records are as accurate and precise as they can possibly be of that rowdy and rambunctious world. I enjoyed reading about the historical climbers and the more social rock climbers of the '30s. Those were the days when families came, climbed a little, picnicked a lot, and a good time was had by all.

The Golden Age of the '60s, of which Steve was a part, was a time of great improvements in equipment and methods, and also a first crack at some of the awesome spires that were heretofore thought "impossible." It was wild, giddy and reckless, adjectives I would never apply to Steve Roper. Mr. Roper is austere in his beliefs of the "purity" of the climb and who is worthy. Though he recounts a few wild escapades, I had the feeling he did not approve. His callousness toward the first Camp 4 fatality made me back up and reread. Yep, I read it right, though I'm sure he was trying to keep up the "Right Stuff" façade in the face of what must have been a great shock to an 18-year old boy. That is the problem; there are so few that Roper considers to have the Right Stuff. If they were women, they were mere appendages. If male and had the misfortune to be born after 1955, they were not pure enough.

John Long's "Rock Jocks, Wall Rats and Hang Dogs" is devoted to Camp 4 in the '70s. John is Steve's polar opposite except in their mutual love for and expertise in rock climbing. John is wildly funny and sometimes just wild, but I had more a feeling of place when reading his book.

As another reviewer said, "Camp 4" is a must-have for West Coast rock enthusiasts. It is considered the Bible of the Golden Age.
-sweetmolly-Amazon.com Reviewer

I was a Yosemite climber in the 1970's and met a number of the major characters (Frost, Chouinard, Robbins, Harding). Steve Roper has done an incredible job of capturing the ephemeral facts and essential spirit of the climbers and times. He is frank about their weaknesses: "We were thoughtless and immature"(pg 154) and "...we were puerile youths. We had been taught the correct values at home, yet we rebelled against everything," (pg 155-6), referring to the troubles they caused in the Vally. He is honest about his own failures, both in his own character and on climbs he could not do. He is enthusiastic about the successes of the pioneers and freely gives credit to those who deserve it. Steve not only gives you facts, he gives you feelings and insights. You can't get better history than this.

The only criticism I have is that the book ends. I could have kept reading for many more days. If you want to FEEL what it was like, buy this book. I will bet you can't read it only once.

This is probably the best account of the Golden Age of Yosemite climbing that has come off the presses. Very honest portrayal of the figures and players by someone who has there to see it all. Very moving, and also very humurous at times. Roper has truly captured the spirit of a long gone era for the younger generation to enjoy and look up to. Thanks.

Merry is back for her third book, and she's still got what it takes to entertain. This book has everything you'd expect from the other two, great characters, great mystery, and personal problems for Merry that make life just a little more interesting. But she faces them all with her faith in the Lord, which helps her through everything. I was a little disappointed because the mystery takes a back seat to the plots involving abuse. Still, a very entertaining read that I plan to read many times myself.

Gayle Roper's Merry Kramer is one of the spunkiest, most loveable characters I've 'met' recently. She's got enough human foibles that I can relate to her, but she's clever and sharp enough that I admire her deeply. Roper's first-person style shows Merry Kramer off to full advantage and is perfect for this fast-paced story of adventure and intrigue. I couldn't put it down and smiled all the way through!

This was a wonderful book. I read constantly and am very objective, but Gayle Roper has met all my expectations and then some! The main character, reporter Merry, is so human you can relate to all the things that happen to her. I loaned this book to a friend and she loved it to! This is money well spent!

I love this book. Bought it in Seattle when I started climbing 15 years ago. Many of the routes are really not that crowded. I spent days on end without seeing anyone on several of the routes. WARNING though, earlier comments are right about innacuracy. Abide by topos and trust your compasses -- or bring an extra day's food for some of the north facing routes described.

I remember when this book first issued, we carped about it then (being too much "the classics of the writers' era", not even contemporary at that time). In the late 1990s this is even more the case. The text should have been at least been updated as some of the route descriptions were wrong originally. Still, this book has inspired more climbing trips than any single climbing book/guide in the United States. People have thronged to these routes in the last two decades, causing them to be dubbed "Fifty Crowded Climbs." I imagine this will not change for a long time. Though I feel the selections are not the best, but until someone does a better job it is a classic book, well worth owning.

This book had a major effect on the climbing community when first published in 1981. It's influence continues with the 2nd edition, which has identical content to the original. Very strong on historical perspective, but much of the guide information is seriously out of date, so use more recent information if you're planning on doing any of the climbs.

What puzzles me is why people never acknowledge that Plantangent blood runs through Enlish royalty all the way through Jame I and beyond. The family name may have changed, but the same genes that gave Henry II his firey hair and disposition engendered the same characteristics in Henry VIII and Elizabeth I. The "dynasty" lasted for over 500 years. Not many could equal that.

This book is a wonderful combination of how their comtemporaries viewed the Plantagenets (and of course they were totally impartial), and little sidebars to fill in the historical flavor of the time. A great combination. I was especially interested in the stories of two kings you don't hear much about. Stephen I, who preceded Henry II, and John I (evil Prince John of Robin Hood fame.) I believe those are the only two names in English royal history to be used only once.

The Plantagenets ruled England for nearly 250 years, longer than any other dynasty, but their real focus was always on their domains on the Continent. In this oversized volume, Hallam concentrates on the early period, from Count Geoffrey of Anjou (who adopted the house name) through John "Lackland," who managed to lose not only Normandy and Aquitaine but Anjou itself. The combination of well-conceived narrative, chronicles and tales recast in modern English, and hundreds of color photos make this a browser's delight.

With surprising thoroughness, "The Plantagenet Chronicles" provides you with contemporary documents from the forefathers of Anjou through the end of the dynasty in Britain. Everything is accompanied by commentary and sidebars illuminating the documents and putting them into historical context. What's more, if slogging through a mediaeval chronicler's language strains the eyes, you can always look at the beautiful illustrations on almost every page. The book is GORGEOUS! The chronicles are priceless gems in a brilliant setting.