Kamis, 26 Juni 2014

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Destiny Of The Republic, by Candice Millard

The extraordinary "New York Times"-bestselling account of James Garfield's rise from poverty to the American presidency, and the dramatic history of his assassination and legacy, from bestselling author of "The River of Doubt," Candice Millard.
For a man forced into the presidency, the legacy of James Garfield extended far beyond his lifetime, and "Destiny of the Republic" revisits his meteoric rise within the military and government with meticulous research and intimate focus. Garfield was a passionate advocate of freed slaves, a reformer at odds with Republican power brokers and machine politics, a devoted father, and a spellbinding speech-giver. Four months after taking office he was shot twice by an unhinged office-seeker, Charles Guiteau, and a nation already recently fractured by war shattered, leaving the wounded president at the center of a bitter, behind-the-scenes struggle for power. Examining the medical reform spurred by Garfield's unsanitary medical treatment, and reflecting on the surprising political reform brought on by his former political enemy Senator Roscoe Conkling, "Destiny of the Republic" passionately brings President Garfield's unknown-but-widely-felt legacy into focus.

  • Sales Rank: #999748 in Books
  • Published on: 2012-10-02
  • Format: Large Print
  • Original language: English
  • Number of items: 1
  • Dimensions: 8.50" h x 1.00" w x 5.50" l, 1.30 pounds
  • Binding: Paperback
  • 597 pages

Amazon.com Review
A Letter from Author Candice Millard

At the heart of Destiny of the Republic is the story of the assassination of President James Garfield. What made me want to write this book, however, was not what I knew about President Garfield—that he had been shot by a deranged man in the summer of 1881—but all that I did not.

In everything I read, I am always looking for the thread of an idea, something that surprises me, and leaves me wanting to know more. To me, that’s the best part of being a writer—following an idea to see where it leads. Most of the time, after doing a little research, I quickly come to a dead end. One day four years ago, however, I found much more than I had ever expected.

While reading a biography of Alexander Graham Bell, I learned that Bell had tried to help save Garfield’s life after the President was shot. I wondered why a man as famous and powerful as Bell, who had invented the telephone just five years earlier, would abandon everything he was working on, put his life on hold, to help any man, even a President. The only way to answer that question, I realized, was to understand exactly what Bell had invented, and, more than that, to find out what kind of man Garfield had been.

After the assassination attempt, Bell devoted himself night and day to inventing something called an induction balance, a type of metal detector, to locate the bullet lodged in the President’s body. The induction balance that Bell used for the final time on Garfield is on display in the National Museum of American History, on the National Mall. What most people don’t know, however, is that the museum also has all of the versions of Bell’s induction balance, in various shapes and sizes, with hanging wires and unfinished edges, that he created while trying to perfect his invention. As I held these fragile instruments in my gloved hands, carefully examining their intricate workings, I could almost see Bell’s mind working, and his heart racing, as the President drew closer and closer to death.

Although, in the end, I would spend three years working on this book, it took only a few days of research to realize what Bell must have known—that President Garfield was not only a tragic figure, but one of the most extraordinary men ever elected President of the United States. A passionate abolitionist, Garfield was not only hailed a hero in the Civil War, but was a fierce champion of the rights of freed slaves. At the same time, he was a supremely gifted scholar who had become a university president at just 26 years of age, and, while in Congress, wrote an original proof of the Pythagorean Theorem.

With each diary entry and letter I read, each research trip I took, Garfield came more clearly and vividly to life. It was not until I visited the National Museum of Health and Medicine in Washington, D.C., however, that I began to understand the extent of the suffering that Garfield, and the nation with him, had endured. In its archives, in a large metal cabinet with long, deep drawers, the museum keeps the remains of two presidential assassins: John Wilkes Booth and Charles Guiteau, the man who shot Garfield. In the same cabinet, in a drawer just below Guiteau’s, lies a six-inch section of Garfield’s spine, a red pin inserted through a hole in the knobby, yellowed bone to show the path of Guiteau’s bullet. It is impossible to look at this heartbreaking collection without being struck by the fact that this story, now hardly remembered, was once a tragedy so wrenching that it transfixed and terrified an entire nation.

This book is my attempt to step back in time, to understand these men and this moment in history, and to tell a story that should never have been forgotten.

Review
A New York Times Notable Book of 2011
"A staggering tale....Millard digs deeply into the turmoil that got James A. Garfield elected, the lunacy that got him shot and the medical malfeasance that turned a minor wound into a mortal one."--Janet Maslin, Top 10 Recommendations for 2011

"One of the many pleasures of Candice Millard's new book, "Destiny of the Republic," [is] that she brings poor Garfield to life--and a remarkable life it was.....Fascinating... Outstanding....Millard has written us a penetrating human tragedy."
--"The New York Times Book Review"
"A spirited tale that intertwines murder, politics and medical mystery, Candice Millard leaves us feeling that Garfield's assassination deprived the nation not only of a remarkably humble and intellectually gifted man but one who perhaps bore the seeds of greatness.... splendidly drawn portraits.... Alexander Graham Bell makes a bravura appearance"--"The Wall Street Journal"
"Fascinating......Gripping.....Stunning....has a much bigger scope than the events surrounding Garfield's slow, lingering death. It is the haunting tale of how a man who never meant to seek the presidency found himself swept into the White House. . . . Ms. Millard shows the Garfield legacy to be much more important than most of her readers knew it to be."
--"The New York Times
""Crisp, concise and revealing history....Millard has crafted a fresh narrative that plumbs some of the most dramatic days in U.S. presidential history"
"--The Washington Post
"Destiny of the Republic" displays Millard's energetic writing and rare ability to effortlessly educate the listener."--"USA Today"

"""Brings the era and people involved to vivid life..... Millard takes the reader on a compelling fly on-the-wall journey with these two men until that fateful day in a train station when Guiteau shot Garfield..... Millard takes all of these elements in a forgotten period of history and turns them intoR

A "New York Times" Notable Book
"Crisp, concise and revealing history. . . . A fresh narrative that plumbs some of the most dramatic days in U.S. presidential history."
--"The Washington Post
"
"A spirited tale that intertwines murder, politics and medical mystery. . . . Candice Millard leaves us feeling that Garfield's assassination deprived the nation not only of a remarkably humble and intellectually gifted man but one who perhaps bore the seeds of greatness . . . splendidly drawn portraits. . . . Alexander Graham Bell makes a bravura appearance."
--"The Wall Street Journal
"
"Fascinating. . . . Gripping. . . . Stunning. . . . The haunting tale of how a man who never meant to seek the presidency found himself swept into the White House. . . . Millard shows the Garfield legacy to be much more important than most of her readers knew it to be."
--"The New York Times
"Destiny of the Republic" displays Millard's energetic writing and rare ability to effortlessly educate the listener."
--"USA Today
"
"A staggering tale. . . . Millard digs deeply into the turmoil that got James A. Garfield elected, the lunacy that got him shot and the medical malfeasance that turned a minor wound into a mortal one."
--Janet Maslin, Top 10 Recommendations for 2011
"One of the many pleasures of Candice Millard's new book, "Destiny of the Republic," [is] that she brings poor Garfield to life--and a remarkable life it was. . . . Fascinating. . . . Millard has written us a penetrating human tragedy."
--"The New York Times Book Review"
"Brings the era and people involved to vivid life. . . . Takes the reader on a compelling fly on-the-wall journey. . . . Millard takes all of these elements in a forgotten period of history and turns them into living and breathing things."
--Associated Press
"Think you're not interested in James Garfield, our 20th President? Millard's action-packed account of his life and tru

About the Author

Candice Millard, the "New York Times"-bestselling author of "The River of Doubt," is a former editor and contributing writer at "National Geographic" magazine. She lives in Kansas City with her husband and children.

Most helpful customer reviews

563 of 571 people found the following review helpful.
A dead president brought to life
By TChris
James Garfield is most often remembered, if at all, as the president who was assassinated shortly after taking office. Destiny of the Republic brings the dead president back to life. This is not, however, a biography of Garfield. Rather, it is a stirring account of American life and politics during the time of the Garfield presidency, not long after the conclusion of the Civil War, and of a presidential murder. Garfield's early years are sketched out in cursory fashion, his (sometimes troubled) relationship with and eventual devotion to his wife Lucretia is covered in only a few pages, and the death of his youngest child receives little more than a mention. Rather than focusing on Garfield's personal life, Candice Millard devotes her attention to political divisions within the Republican Party (particularly Garfield's battles with New York Senator Roscoe Conkling and the vice president he controlled), as well as Garfield's frustration with the obligations of the office that he had little desire to hold.

The president's assassin is given nearly as much attention as the president. There are times when the book has the feel of a thriller, as the ominous Charles Guiteau weaves in and out of the text, inching himself closer to the president. Millard depicts Guiteau as a con man with delusions of grandeur whose madness was characterized by a growing belief that his plan to assassinate Garfield was divinely inspired.

The assassination occurs at the book's midway point. Millard then treats us to a different kind of political battle, a medical drama about doctors who vie for the opportunity to treat the president and who, ironically, become responsible for his death. Arrogant in their refusal to believe in the existence of germs, American doctors rejected evidence that antiseptic surgical conditions increase a patient's chance of survival. The dirty finger and unwashed probes inserted into Garfield's wound in search of a bullet sealed the president's fate, infecting an injury that Garfield would likely have survived if left untreated. The book concludes with an account of Garfield's autopsy and Guiteau's trial.

Destiny of the Republic succeeds on two levels. First, it is informative. Millard fills the text with interesting facts culled from a variety of primary and secondary source materials, including frequent quotations from contemporaneous news stories and Garfield's diary, to set the scene for Garfield's presidency. We learn enough about the man to understand that he would have made an admirable president. It's interesting to note that Garfield, despite his love of farming, was a scholar, a professor of literature and ancient languages, well versed in mathematics and keenly interested in science, the sort of man who, if running for office today, would likely be branded an "elitist." Garfield's speeches condemning slavery and the unequal treatment of black Americans are eloquent and moving; the book is worth reading for those passages alone.

Second, the book is entertaining. Millard's prose is lively. She captures personalities as if she were writing a novel. She seasons the narrative with humor and creates tension as the events leading to Garfield's encounter with Guiteau unfold. Despite its attention to detail, the narrative moves at a brisk pace.

My sole complaint concerns the attention that Millard gives to Alexander Graham Bell. Granted that Bell's life intersected with Garfield's more than once, and that Bell worked diligently to invent a device that would pinpoint the location of the bullet lodged in Garfield's body, the full chapter and parts of several others devoted to Bell's life seem out of place, as if Millard felt the need to pad her relatively short book with filler. I would have preferred a more thorough discussion of the political aftermath of the shooting. Millard tells us of its unifying effect on a nation that emerged from the Civil War still deeply divided, but provides few facts to support that proposition. A more extensive look at the impact of the assassination on the country would have been more germane than the pages devoted to Bell's life before and after his invention of the telephone.

That criticism aside, Destiny of the Republic is perfect for readers (like me) who want to know about a key moment in American history without being subjected to mind-numbing detail or leaden prose. Millard's book is enlightening and enjoyable. Garfield is a dead president I'm happy to have met.

188 of 192 people found the following review helpful.
How Not to Treat a President
By Just My Op
If the 20th U. S. President, James A. Garfield, had not been so well attended by doctors, he very well might have survived being shot by an assassin. If his doctors, especially the controlling and pompous Dr. Doctor Bliss (no, Dr. Doctor is not a mistype), had been willing to practice Lister's antisepsis techniques, Garfield might have lived. And if the assassin, Guiteau, hadn't been a megalomaniac who thought he was supposed to kill the president, the medical care would never have been needed. As it was, Garfield died slowly and very painfully, and we never were able to benefit from the president he could have been.

As sad as the story is, I loved the telling of it in this book. Author Candice Millard did a wonderful job of tying together the different people most important in this tragedy, and the mood of the times. I would never have known otherwise that Alexander Graham Bell invented a metal detector so that he could try to locate the bullet still in Garfield's body. I needed a bit stronger stomach than I have to read about Garfield's treatment and the progression of his illness. And, 130 years after his death, I am sorry that he did not get the chance to live his full potential as president. I highly recommend this excellent book.

Thank you to the publisher for giving me an advance reader's edition of the book.

37 of 37 people found the following review helpful.
Who's the real killer?
By James Hiller
I didn't know that much about our twentieth president prior to this book. What I did know: that he was Republican, in office for a short amount of time, and was shot and lingered for months afterwards. Turns out, after reading Candice Miller's wonderful new book, "Destiny of the Republic", there was much more to President James Garfield than I first knew. I ended up with a single question after reading the book: Who was the real killer?

The first mention of Garfield that intrigued me recently came in 1861: The Civil War Awakening by Adam Goodhart. There, a chapter featured a youngish Garfield, empowered, on the verge of his war greatness, yet somehow innocent and compelling. Had I not read that chapter in 1861, I may have completely skipped over this book. Fortunately I didn't, because Candice Millard's book on his assassination poses many questions, and is incredibly intriguing.

Millard's prose is quick, creating a true page turner. Not overly dwelling in minute details, Millard raises the president from boyhood to presidency quickly, from his hardscrabble existence to his later glories on the battlefield and in the political arena. Garifeld, the man who never wanted to become president, found himself the candidate to break a deadlock in the election. Stepping up to the office, Garfield, saddled with a running mate from a political machine, Chester Arthur, wins and embraces the role of president he would have for a few short months.

We also track the life of the crazed assassin Charles Guiteau, deranged office seeker who was convinced he put Garfield in office with a singular weak speech and then showed up to claim his rightful spot in the administration. Millard doesn't swing Guiteau into a dark maniac, but someone with mental health issues that was loved by his family despite them.

Millard's true villain of the story is the doctor who took over his care (a medical coup, so to speak), Dr. D. W. Bliss, who poo-poohed the pioneering antiseptic work of George Lister, and probed the bullet wound with unwashed hands repeatedly, causing Garfield, who would have likely survived the shot, to transform into an infected being. Millard spares no detail into Garfield's suffering and condition. While Guiteau fired the shot that would lead to Garfield's death, clearly Bliss, unwilling to listen to anyone but himself, led the president to death with his "care".

Other characters in the book include a young Alexander Graham Bell, who created an invention to find the bullet, and Chester Arthur, who recognized his weakness in leadership and was completely horrified at becoming president.

All in all, this was a book that, despite knowing the ending, was a complete and true page turner. If you are into historical fiction, and looking for a great plane/train read, this is your book!

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Minggu, 15 Juni 2014

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Once confined to four-year colleges and graduate schools, forensic science classes can now be found in local high schools as well as in two-year community colleges. The Basics of Investigating Forensic Science: A Laboratory Manual is designed for the beginning forensic science student and for instructors who wish to provide a solid foundation in basic forensic science topics and laboratory techniques. Divided into five distinct sections, the book covers a broad range of subjects, including fingerprinting, shoeprint analysis, firearms, pathology, anthropology, forensic biology, drugs, trace evidence, and more.

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  • Sales Rank: #534592 in Books
  • Published on: 2015-09-23
  • Original language: English
  • Number of items: 1
  • Dimensions: 9.90" h x .60" w x 6.90" l, .0 pounds
  • Binding: Paperback
  • 204 pages

About the Author

Kathy Mirakovits teaches forensic science and physics at Portage Northern High School in Portage, Michigan, and physics at Kalamazoo Valley Community College in Kalamazoo, Michigan. She holds a master’s degree in science education from Western Michigan University and has completed over 15 graduate hours in forensic science. She has taught at the high school and two-year-college levels for a total of 25 years, teaching general science, physical science, chemistry, biology, earth science, and physics. She conducts workshops across the United States for teachers who wish to learn the application of forensic science in a school curriculum. She currently serves as the high school director for the Michigan Science Teachers Association.

Gina Londino received her master’s degree in chemistry from Purdue University in Indianapolis. Her main focus in graduate school was in forensic analysis of pigmented ink using pyrolysis gas chromatography-mass spectrometry. She also performed research on biomarkers at Eli Lilly and Company, Indianapolis, through the ADME department throughout graduate school. Gina is currently a senior lecturer in the Forensic and Investigative Sciences program at Indiana University–Purdue University, Indianapolis, where she has been teaching introductory courses in forensic science, forensic chemistry, and forensic microscopy since 2006. She has designed multiple courses in forensic science, including a variety of beginner-to-advanced laboratory exercises.

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Global Asset Allocation: A Survey of the World's Top Asset Allocation Strategies, by Mr Mebane T Faber

With all of our focus on assets - and how much and when to allocate them - are we missing the bigger picture? Our book begins by reviewing the historical performance record of popular assets like stocks, bonds, and cash. We look at the impact inflation has on our money. We then start to examine how diversification through combining assets, in this case a simple stock and bond mix, works to mitigate the extreme drawdowns of risky asset classes. But we go beyond a limited stock/bond portfolio to consider a more global allocation that also takes into account real assets. We track 13 assets and their returns since 1973, with particular attention to a number of well-known portfolios, like Ray Dalio’s All Weather portfolio, the Endowment portfolio, Warren Buffett’s suggestion, and others. And what we find is that, with a few notable exceptions, many of the allocations have similar exposures. And yet, while we are all busy paying close attention to our portfolio’s particular allocation of assets, the greatest impact on our portfolios may be something we fail to notice altogether...

  • Sales Rank: #576416 in Books
  • Published on: 2015-04-20
  • Original language: English
  • Number of items: 1
  • Dimensions: 9.00" h x .31" w x 6.00" l, .56 pounds
  • Binding: Paperback
  • 132 pages

Most helpful customer reviews

67 of 71 people found the following review helpful.
For everyone who is interested in Asset Allocation - Global or not
By GeraldM
I do not personally know the author and I have never met him. I have not communicated with him regarding either this book or any of his other books. My only association with Meb Faber is from me reading his blog and his books. I was privileged to get a pre-print of this book for review because I responded to an email solicitation. Even though I have a pre-print, I will purchase the book.

I thoroughly enjoyed this short book. Below are a few brief points about what I consider the highlights from each of the chapters. My personal commentary is at the end of this review.

Chapter One:
Why it's a bad idea to hold cash long term.
There is a pretty amusing (and correct) take down of Zerohedge's dollar crash charts.
A great look across major countries returns on bills, bonds and equity vs inflation.
Nominal returns vs real returns. This is important to understand for wealth preservation.

Chapter Two
The importance of understanding the length of time spent in drawdown.
Understanding future returns (they won't be stellar at the time of this writing).
The importance of going Global.

Chapter 3
Why Market Cap and GDP suggest holding only 50% (or less) of your portfolio in US assets.
The Global 60/40 portfolio - increases returns and reduces volatility (by a bit).
But why just Stocks and bonds?
13 assets classes examined since 1973.
Interestingly, Gold and Commodities had by far the worst Sharpe ratio over this time.
"It is a sad fact that as an investor, you are either at an all-time high with your portfolio or in a drawdown - there is no middle ground - and the largest drawdown will always be in your future."
Figure 24 of the 13 assest class returns in different regimes is excellent and valuable.

It is now time for portfolio construction.

Chapter 4 - Risk Parity and All Seasons - Ray Dalio (Bridgewater)
Real returns in the inflationary 70's were negative (73-81).
Risk parity worked during the Bond Bull Market post 81 - what about going forward?
Bridgewater's All Weather is the largest fund in the world but you can't get in. Faber shows you how to clone it yourself (via a link to his blog).
Terrific links to background reading.

Chapter 5 - Permanent Portfolio - Harry Brown
Low real returns during the inflationary 70's and then about 5% post 81.
Consistent, low volatility performance.

Chapter 6 - Global Asset Allocation
A portfolio constructed along the lines of a global market cap weighted portfolio. Check links to research paper for more info on construction.
Positive returns post 1981.
The portfolio was altered to include commodities to the benefit of an extra 1% per annum with not much more volatility. This is an example of how diversification and back testing may improve a portfolio.

Chapters 7-10 Lots more portfolios:
These chapters show portfolios from Rob Arnott, Marc Faber (no relation to the author), Warren Buffet, Mohammad El-Arian, David Swensen, The Ivy Portfolio (Meb Faber)
Much like the previous chapters, Chapters 7-10 show nominal and real returns from 1973-2014. Over the long term, real returns are similar with the Buffett portfolio mimicking stock returns and the attendant volatility that comes with it. Not surprising considering it's 90% stocks making it the most non-diversified of the portfolios studied.
According to the author, the Marc Faber portfolio was the most consistent portfolio reported in this book.

Chapter 11 - Summary of Strategies
Make sure you read and understand this summary chapter. Indeed, the conclusion reached by the author surprised even him. At one point he states: "To me, that is astonishing". What is so astonishing? In brief, it doesn't really matter which allocation you pick. The *real* returns are nearly the same. If you take out the permanent portfolio which technically had the worst returns, the remaining portfolios are within oh, about 1/2 of 1%. And since you can't predict which portfolio will do what in the coming years, just pick one and get on with your life. An equally (if not more) important fact is costs, costs, and costs. If you pay an advisor 1-2%, you will turn the very best performing portfolio into the very worst performing portfolio. It's a simple as that. So keep your costs under control and pick a portfolio you like.

Chapter 12 - Implementation
This is a good chapter for those not familiar with what assets to actually use - or even those who do. What I like about this chapter is that it directs you to the things needed to actually build your portfolio (this is done throughout the book - also see Appendix A for pre-built portfolios from some well-known robo-advisor's). You already know the weights (and even that isn't all that significant). The other thing the author talks about is taxes. Lots of authors talk about investing or trading but they don't get into discussing the impact of taxes nearly enough. Taxes are a vital area to know about as they will take by far the biggest chunk of your earnings. If you were surprised by the impact of advisor fees (also discussed in this chapter), then you really need to understand the impact of taxes. I really appreciate it when authors use their knowledge in very specific ways. This chapter as well as other chapters in the book demonstrates that.

Chapter 13 - Summary
The author's opinions and wisdom are distilled down to 10 brief points. They are:
1. Any asset by itself can experience catastrophic losses.
2. Diversifying your portfolio by including uncorrelated assets is truly the only free lunch.
3. 60/40 has been a decent benchmark, but due to current valuations, it is unlikely to deliver strong returns going forward.
4. At a minimum, an investor should consider moving to a global 60/40 portfolio to reflect the global market capitalization, and especially now due to lower valuations in foreign markets.
5. Consider including real assets such as commodities, real estate, and TIPS in your portfolio.
6. Once you have determined your asset allocation mix, or policy portfolio, stick with it.
7. The exact percentage allocations don't matter than much.
8. Make sure to implement the portfolio with a focus on fees and taxes.
9. Consider using an advisor or other automated investment service in order to make it easier to stick to the portfolio and rebalancing schedule.
10. Go live your life and don't worry about your portfolio!

Appendix A and B
There is good material in the FAQ and Other Portfolio appendices. Just get the book and read them.

My Thoughts
OK, after this long-ish review, here's what I think. The book is of significant value (if you take an estimate of the value and divide it by the ridiculously paltry price, you get something of incredible value). The research is solid and the numbers unassailable. Even though I've described what I consider to be the highlights, you really need to read the book for the excellent data. Staring at the data for a while will really help you internalize the reality of asset allocation. Although not an apples-to-apple comparison (far from it), I recently read and reviewed Tony Robbin's book. That was a good book but really long. Tony is a talker - it's what he does for a living after all (and he is among the best at what he does - motivational speaking and life coaching). But there were times I was getting worn out by the length of material verses the significance of it. Not so with Meb's book. This thing is a gem. You can read it quickly and know all that you really need to know. Further, Tony was in full promotion mode for a single portfolio and an asset manager that charges too much. I commented in my Amazon review that if Tony really wanted to help people, he would have come up with a low cost solution. Amazingly, a very short time after I did that review, Meb Faber introduced the world's first no-management-fee ETF. Incredible. Meb actually did what I thought Tony should have done. Kudo's to Meb then! So grab a copy of this book and read it. The cost is essentially free (if you had to buy this quality research from and advisor or brokerage, I dare say it would be in the $100's or $1000's). Read it and you will learn something. You will be more informed about asset allocation and ultimately be better off for it.

42 of 47 people found the following review helpful.
Eating Cat Food in Retirement
By Soporiferous
I have enjoyed reading Meb Faber's other books, because he usually makes clear points backed up with succinct analysis. While this quick read had a robust and engrossing beginning, it fizzled beyond the first couple chapters. Let me explain.

The book opens with a warning about how the 60/40 portfolio with a US-bias will surely fall flat (I agree) and that bonds will surely have negative real yields going forward (I agree). However, following this important warning, the author presents "famous" asset allocation profiles that are equally bond heavy without issuing a similar warning.

How would these asset allocations be spared the same fate that he warned against in the beginning of the book if they are so heavily weighted in an asset class so completely sucked dry of any possible yield or growth?

The author implies that adding "real assets" such as REITs, TIPS, commodities, gold would help spare the portfolio. However, many real assets have also been sucked dry of yield and growth, leaving nothing but a desiccated carcass. This fact should be mentioned, but it is not. Surely, some poor soul will read this book and put a third of their assets in a REIT ETF and wind up getting kicked in the giblets.

Then hidden in the appendix is Figure 48 from Credit Suisse which shows how bond holders will probably end up eating cat food in retirement. This book left me hanging.

10 of 10 people found the following review helpful.
primarily diversification is good. The big argument of the book is that ...
By Adam Smith
Anyone familiar with Meb Faber (prolific writer and commentator on finance - books, twitter etc) knows that he is unusually thoughtful and his writing is often brimming with insight. This book is no exception. This book fills a hole by taking a bunch of suggested asset allocation strategies and running them through an empirical return examination since ~1970. The takeaway is predictable: primarily diversification is good.

The big argument of the book is that fees are really terrible - transform best strategy to worst. The major insight for me was not only that fees have an immediate cost but that the opportunity cost of that extra few hundred basis points of compounding is much greater over long time horizons (than even the "accounting cost" of fees).

I gave it four stars because I found 80% of it fairly predictable. Still worth it for the few critical insights.

Kudos to the author for not complicating things by having too many key messages.

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Radha Soami Teachings. 4th Edition.From Radha Soami Satsang Beas

  • Sales Rank: #8838567 in Books
  • Published on: 1993
  • Binding: Hardcover

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NO description available

  • Sales Rank: #182684 in Books
  • Published on: 2014-11-01
  • Original language: English
  • Number of items: 1
  • Dimensions: 7.00" h x 4.75" w x .25" l, .10 pounds
  • Binding: Spiral-bound
  • 32 pages

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9 of 9 people found the following review helpful.
best book for kindergarten
By sexyaqr
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3 of 3 people found the following review helpful.
Great
By Hipsters25
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Excellent!!!
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