Book Description
In November 1938 a crowd of more than 120 tiny actors ambled through the gates of Metro-Goldwyn-Mayer studios in Hollywood. Headed for the set of one of America's all-time classic movies, The Wizard of Oz, they were about to become known as Munchkins.
Few movies have ever achieved the popularity and acclaim of The Wizard of Oz. It made the reputations of Judy Garland and many others, but ironically, the diminutive actors and actresses who peopled Munchkinland weren't even listed in the credits. Most of us have never heard their names. Now their story is finally told in a new and revised edition as thirty ex-Munchkins reveal their amazing personal stories.
The Munchkins of Oz offers a fresh perspective on the filming of The Wizard of Oz and what went on behind the scenes. We learn about life on the Munchkinland set, how they were recruited, intimate memories of the stars, and the Munchkins' lives before and after Oz. More than 300 photos, many first published in this book, illustrate and enhance the lively text. ENTERTAINMENT; FILM 300-PLUS B/W ILLUSTRATIONS 8-PAGE COLOR INSERT 8” X 10”, 224 PAGES PAPERBACK
Customer Reviews:
The Munchkins revisited.......2007-05-31
As a child, my very favorite movie was THE WIZARD of OZ. My favorite scene was when the tiny Muchkins "Came out ,came out, wherever they were".
I always wondered about the actors and actresses that played the parts of the delightful little Munchkins, & therefore I was thrilled to finally get this book (as a Christmas gift).
This book will not disappoint. Not only does it give a wonderful background as to where the Munchkin actors came from, but also this book goes into specifics, regarding the most famous of the Munchkins actors/actresses (eg: the Lollipop Boys, etc). Such endearing folks they were! (Sadly, most of them have passed away by now...sniff!)
After reading this book, you will forever love and appreciate the little people that were part of such a unique movie.
What a Fun Book.......2005-09-02
We would certainly highly recommend this book! Meeting several little people throughout our years, our family found this book to be a Top 10 book! It is full of stories of the Munchkins, and what it was really like to be a part of OZ. We found out things we never knew, even after hearing so many personal stories of those who shared their experiences with us personally. We believe Meinhardt Raabe is the last of the Munchkins still alive, and would also highly recommend his book, Memories of a Munchkin: An Illustrated Walk Down the Yellow Brick Road.
Oz-some book!!.......2005-07-21
I loved this book so much that this is the 3rd edition that I've bought. I bought the first edition back in 1989 and the revised edition many years later. When this one came out, I knew I had to have it too. With each revised edition, Stephen Cox really outdoes himself. I've found that any revised edition of this author's books are always even better than the original, as he adds more info and photographs!
This book is a must-have for all Oz-fans, young and old. It's filled with rare photographs, little-known trivia and fascinating tid-bits. There is also a section about bloopers (find out about a scene where Judy Garland can clearly be seen wearing brown bedroom slippers instead of the Ruby Slippers!) and "urban legends" (no, the Munchkins did not get drunk & disorderly every night as portrayed in the Chevy Chase/Carrie Fisher movie "Under the Rainbow"!! Nor did a Munchkin commit suicide on set during filming; F.Y.I.: it's a large, exotic bird moving its head & wings that people think is the hanging Munchkin).
Reading this book will increase your Oz-IQ several points! What are you waiting for? Buy this book now!
Great book! Great pictures! Great stories!.......2003-03-21
I first read this book when the first edition came out, and was really impressed with the depth in which the author went to gather the information for this book -- hours spent locating and contacting the surviving Munchkins, all the interviews that took place, etc. This is NOT one of my favorite movies, by any means, but I always liked the first seen in Oz, where Dorothy meets the Munchkins, and this book really showed you who these people were and how they managed to get into the movie. Alot of great pictures help make the book really stand out. With each reissue (this is the third edition of the book), the author is able to provide a little bit more information on the Munchkin actors and actresses, and provides additional pictures to keep the experience of the book fresh. I would highly recommend not just this edition, but the two previous editions if you are able to find them. A great read!
The Lollipop Guild Lives.......2000-05-12
This is probably the most interesting Oz book in my collection. Finally someone reveals who these little people are, and in such an entertaining manner. I couldn't put this book down. I've read so many books about Prod. 1060, aka "The Wizard of Oz" (MGM) which are dry and stale. This book puts the whole experience into perspective and provides a human side to the Munchkin actors. I'm glad to hear some of them survive. The photographs in here are glorious. The color photography jumps out at you. Bravo to Steven Cox for doing such a handsome job and such a respectful job with "The Munchkins of Oz." If you want a book on Oz that is unique--this is the one.
Average customer rating:
- The Blue Munchkins of Oz: Meezie & Tweeze Birthday Adventure
- The concept works
- review of The Birthday Ban in Munchkin Land
|
The Birthday Ban in Munchkin Land (We Both Read)
Dev Ross
Manufacturer: Treasure Bay
ProductGroup: Book
Binding: Paperback
 Action & Adventure
| Literature
| Children's Books
| Subjects
| Books
Science Fiction, Fantasy, & Magic
| Science Fiction, Fantasy, Mystery & Horror
| Literature
| Children's Books
| Subjects
| Books
General
| Literature
| Children's Books
| Subjects
| Books
Non-religious
| Holidays & Festivals
| People & Places
| Children's Books
| Subjects
| Books
Early Reader
| Series
| Children's Books
| Subjects
| Books
| A-Z Mysteries
| All Aboard Reading
| Amanda Pig
| Amelia Bedelia
| Andrew Lost
| Babar
| Berenstain Bears
| Bob Books
| Brand New Readers
| Clifford
| Dorling Kindersley Readers
| Dr. Seuss
| Early Step into Reading
| Elvis the Rooster
| Encyclopedia Brown
| Ernestine & Amanda
| Festival Readers
| First Stepping Stone Books
| Frances
| Frog and Toad
| George and Martha
| Green Light Readers
| Hello Reader
| High-Rise Private Eyes
| I Can Read Books
| I Spy
| Junie B. Jones
| Let's Read and Find Out Science
| Little Bill Books
| Little Critter
| Little Toot
| Magic Elements
| Magic School Bus
| Magic Tree House
| Marvin Redpost
| Max
| Minnie and Moo
| Nate the Great
| Puffin Easy-to-Read
| Ready For Chapters
| Real Kids Readers
| Rugrats
| Scooby Doo Readers
| Shredderman
| The Littles First Readers
| Viking Easy-to-Read
| Winnie-the-Pooh First Reader
| Young Cam Jansen Mysteries
General
| Ages 4-8
| Children's Books
| Subjects
| Books
General
| Ages 4-8
| Children's Books
| 4-for-3 Books Store
| Stores
| Books
Action & Adventure
| Literature
| Children's Books
| 4-for-3 Books Store
| Stores
| Books
General
| Literature
| Children's Books
| 4-for-3 Books Store
| Stores
| Books
Science Fiction, Fantasy, & Magic
| Science Fiction, Fantasy, Mystery & Horror
| Literature
| Children's Books
| 4-for-3 Books Store
| Stores
| Books
Non-religious
| Holidays & Festivals
| People & Places
| Children's Books
| 4-for-3 Books Store
| Stores
| Books
All 4-for-3 Deals
| 4-for-3 Books Store
| Stores
| Books
Similar Items:
-
Ben & Becky in the Haunted House (We Both Read)
-
About Space (We Both Read)
-
About the Ocean (We Both Read)
-
Hansel & Gretel (We Both Read)
-
The Mighty Little Lion Hunter (We Both Read)
ASIN: 1891327208 |
Book Description
Introducing the easiest and most enjoyable way for parents to encourage their children to read! Recently selected among the Most Outstanding Children's Books of 1998 by the Parent Council and one of the 100 Best Children's Products of 1998, We Both Read is the first series of books to invite parents and children to share the reading of a book by taking turns reading aloud. Parents read the more sophisticated text on the left-hand pages and the children read the right-hand pages, which have been written at one of three early reading levels. Developed with reading education specialists, this delightful new series brings parents and children together for a wonderful new reading experience and faster reading development! About this book: The Wicked Witch has banned birthdays in Munchkin Land! Two Munchkin children, Meezie and Tweeze, are forced to cancel their birthday celebration, but then decide to take matters into their own hands and challenge the Witch's ban. With the help of their friend, Windbag, they just might succeed and rid Munchkin Land of the Wicked With forever!
Customer Reviews:
The Blue Munchkins of Oz: Meezie & Tweeze Birthday Adventure.......2004-12-27
This was a really good book, and despite what another review says, this shows that youy don't have be a storm-blown house or a circus man in a balloon to defeat the Wicked Witch of the East - (I have still yet to find, order and get "How the Wizard Came to Oz"). The Wicked Witch of the East decrees that Birthdays are now a crime, and because this happens on the same day as Meezie & Tweeze's birthday, Glinda (who is NOT a Pre-teen, as she is described as a WOMAN in the story on most likely pg 5 of the story & not 10) helps them by taking them to her friend Old Tree, who then suggests the little Windbag. With him, a plan is then worked out to be-rid Oz of the Wicked Witch - and it works!! But then, something amazing happens and a miracle occurs . . . allowing Meezie and Tweeze to celebrate their birthday today.
One of the other reviews says that this story contradicts Baum's version; I say that we only see Oz through the Munchkins' view, as in "the Wonderful Wizard" we see it through Dorothy's point of view. But there are a few little things that are a tiny bit different, like the view of the landscape, Toto not being drawn and different Munchkins greeting Dorothy, but it doesn't really matter. The pictures by David Hohn look like that of Charles Santore, made from water-colouring (possibly both water-paint and/or water-pencil). The Munchkins' heads are slightly bigger than normal heads, and Dorothy looks like Charles Santore's version, but in a different dress, but I really like her house.
Even though the details of this book are in 44 pages, the Endpapers, Parent's Introduction, copyright and title pages don't count, so the story goes for 40 pages.
Someday, by 2010, hopefully when I have finally gotten into the Movie business, I would like to put this little story into the 'Oz-Prequel' I have planned.
Now, I would like to say that my review on "L. Frank Baum's the Wonderful Wizard of Oz with illustratiosn by Barry Moser" was cut short: the title was supposed to be "Barry Moser's (almost slightly) Gothic Oz", and I mentioend 2 sites where you could see 5 of his pictures and another site where you could read about "Forty-Seven Days to Oz", in which Barry Moser writes about how he made the illustrations for his 1986 Pennyroyal Press Edition, but Amazon.com cut them out. I also ordered "the Wonderful Wizard of Oz - Troll Illustrated Classics", but it was out-of-print so I couldn't get it, but I'll try on another site: Biblio-Quest.
Maybe next time then . . .
The concept works.......2004-03-22
The "We Both Read" series works magic in persuading kids to read because both the parent and the child participate. I did not like this story, but it matters not at all. My son who hates to read, loves to share the reading task with me. I am always looking for me books in this series.
review of The Birthday Ban in Munchkin Land.......2000-09-05
This is a very interesting idea that is called "We Both Read." Every opening contains a beautiful full-color painting by David Hohn, whose style is very attractive. The left-hand pages contain text for a parent to read to a child, and the right-hand pages contain cute verses for the child to read to the parent. All of the text is simple enough that the "parent" could as easily be an older friend or sibling. On the cover, it claims to be geared toward grades one and two. When I was seven, I was not a top reader, but I was enjoying far more sophisticated works than this. Still, it is a great learning aid for any child who loves Oz and has trouble reading.
The story takes place prior to Dorothy's first visit. The Witch of the East is still at large, and has made it illegal for the Munchkins to celebrate birthdays. This makes Meezie and Tweeze (two cute Munchkin twin children) very unhappy, as today is their birthday. So Meezie schemes with a breezy character named Windbag to overthrow the Witch by conjuring up a storm. It is obvious what happens next, but bear in mind the fact that, if you are reading this review, you probably are not five years old.
The plot is quite simplistic, but it is intended for very small children, so I can't hold that against it. On page ten, there is an illustration that looked at a glance to me like a little girl no older than nine. It turns out that this is supposed to be Glinda! Then I noticed the poppies on either side of her blonde head and realized that it is obviously Ozma. The author must have originally wrote about Ozma, got it illustrated, and then realized too late that Ozma would have been Tip at that time. So now Glinda is described with "golden hair" and depicted as a pre-teen. There is also an awkward conversation with Windbag in which he discloses the fact that he was responsible for bringing the Wicked Witch to Oz in the first place. He had blown her off course en route to France! And Dorothy's arrival contradicts Baum's version. Still, if one may theorize that Windbag was mistaken about the Witch's origin, and that Dorothy may have had an encounter with some different Munchkins after Tattypoo and the others left, this book is not too bad. And of course I can approve of anything that helps children learn to read. 2 stars.
Average customer rating:
|
Munchkins Remember
Steve Cox
Manufacturer: Plume
ProductGroup: Book
Binding: Paperback
General
| Biographies & Memoirs
| Subjects
| Books
Biographies
| Movies
| Entertainment
| Subjects
| Books
| Actors & Actresses
| Directors
General
| Movies
| Entertainment
| Subjects
| Books
Performing Arts
| Arts & Photography
| Subjects
| Books
| Dance
| General
| Reference
| Theater
General
| Arts & Photography
| Subjects
| Books
General
| Foreign Languages
| Reference
| Subjects
| Books
ASIN: 0525484868 |
Customer Reviews:
Oz-some book!.......2005-07-20
This was the first Stephen Cox book I bought, way back in 1989. I saw a segment on TV one morning and then happened to read an article about the book the same day. I rushed out to the mall and grabbed the only remaining copy in the store.
Due to this book being so well written and painstakingly researched, I've bought every one of this author's books.
Even if you're just a casual viewer of The Wizard of Oz, you will enjoy this book. And if you're an Oz-lover? Well, you NEED to buy this book!
Average customer rating:
|
Munchkins Beyond Oz: The Book
Ralph Zellem , and
Michael Ernst
Manufacturer: AuthorHouse
ProductGroup: Book
Binding: Paperback
Contemporary
| General
| Literature & Fiction
| Subjects
| Books
Action & Adventure
| Genre Fiction
| Literature & Fiction
| Subjects
| Books
ASIN: 1425926959 |
Product Description
This issue was produced with 4 different covers from the movie `The Wizzard of Oz'. The magazine features an article, pages 17-31, for the TV movie presentation. This cover is of Dorothy. The other covers are Tin Man, Scarecrow and Cowardly Lion.
Average customer rating:
|
Experiencing Jazz
Richard Lawn
Manufacturer: McGraw-Hill Humanities/Social Sciences/Languages
ProductGroup: Book
Binding: Paperback
General
| Music
| Entertainment
| Subjects
| Books
Jazz
| Musical Genres
| Music
| Entertainment
| Subjects
| Books
All Titles
| Qualifying Textbooks - Fall 2007
| Stores
| Books
Similar Items:
-
Rock Music Styles
ASIN: 0072451793 |
Book Description
Experiencing Jazz, as the title suggests, provides an immersive experience using an integrated text, CD-ROM, and audio CD anthology designed for the non-musician or musician whose primary focus is not jazz. Listening to seminal recordings, learning about how musicians create the music, and hearing the music first hand through an interactive companion CD-ROM rich in helpful tutorials as well as audio and video examples helps the non-musician to fully appreciate and become involved in the jazz experience.
The CD-ROM offers excerpts of interviews with many of the performers who made jazz history, as well as other valuable information designed to create active, informed and discerning listeners.
The textbook helps to place important musical trends in a larger cultural and historical context, helping the reader to relate jazz history to other familiar events. It does not overwhelm with long lists of musicians, but focuses on the primary innovators who moved the music in new directions.
Book Description
Experiencing Jazz, as the title suggests, provides an immersive experience using an integrated text, CD-ROM, and audio CD anthology designed for the non-musician or musician whose primary focus is not jazz. Listening to seminal recordings, learning about how musicians create the music, and hearing the music first hand through an interactive companion CD-ROM rich in helpful tutorials as well as audio and video examples helps the non-musician to fully appreciate and become involved in the jazz experience.
The CD-ROM offers excerpts of interviews with many of the performers who made jazz history, as well as other valuable information designed to create active, informed and discerning listeners.
The textbook helps to place important musical trends in a larger cultural and historical context, helping the reader to relate jazz history to other familiar events. It does not overwhelm with long lists of musicians, but focuses on the primary innovators who moved the music in new directions.
Customer Reviews:
Experiencing Jazz.......2007-09-27
I WAS VERY UNHAPPY WITH THIS PRODUCT! I RETURNED IT TWICE AND NEITHER TIME RECIEVED THE TWO VIDEO CD'S THAT WERE SUPPOSED TO COME WITH THE BOOK.
BECAUSE I WAS ON A TIME LIMIT, I CHOSE TO CANCEL THE ORDER AND BOUGHT THE BOOK AND VIDEOS ELSEWHERE.
Book Description
Citation Details
Distributed by ProQuest Information and Learning
Book Description
This #1 market-leading Personal Finance text provides comprehensive coverage of personal financial planning in the areas of money management, career planning, taxes, consumer credit, housing and other consumer decisions, legal protection, insurance, investments, retirement planning, and estate planning.
Customer Reviews:
Great reference in Personal Finance.......2001-05-12
To make the long story short, when I started to work as a CSR in a bank, I kept this book as a reference on my desk. Before that I tried to ask the branch manager - he didn't have a clue. In the end, I put it in bank's "Better Practices Manual" binder and used it it explain products to the customers.
Very interesting.......2000-09-14
I used this book for an online course that I took from BYU. It was very informative and interesting.
Average customer rating:
|
Personal Finance Tax Update with Financial Planning Workbook and Software (2nd Edition)
Jeff Madura
Manufacturer: Addison Wesley
ProductGroup: Book
Binding: Hardcover
General
| Popular Economics
| Business & Investing
| Subjects
| Books
Finance
| Business & Investing
| Subjects
| Books
| Banks & Banking
| Corporate Finance
| Foreign Exchange
| Inflation
| Interest
General
| Personal Finance
| Business & Investing
| Subjects
| Books
Financial Planning Workbooks
| Personal Finance
| Business & Investing
| Subjects
| Books
General
| Finance
| Accounting & Finance
| Professional & Technical
| Subjects
| Books
All Titles
| Qualifying Textbooks - Fall 2007
| Stores
| Books
Business & Investing
| Qualifying Textbooks - Fall 2007
| Stores
| Books
Professional
| Qualifying Textbooks - Fall 2007
| Stores
| Books
ASIN: 0321356462 |
Average customer rating:
|
Tax Update of Planning Your Financial Future
Louis E. Boone ,
David L. Kurtz , and
Douglas Hearth
Manufacturer: South-Western College Pub
ProductGroup: Book
Binding: Hardcover
General
| Popular Economics
| Business & Investing
| Subjects
| Books
Financial Planning
| Personal Finance
| Business & Investing
| Subjects
| Books
General
| Personal Finance
| Business & Investing
| Subjects
| Books
All Titles
| Qualifying Textbooks - Fall 2007
| Stores
| Books
Business & Investing
| Qualifying Textbooks - Fall 2007
| Stores
| Books
ASIN: 0324319266 |
Book Description
This text for personal financial planning adopts a life-cycle approach to financial planning. The writing style, designed for readers with diverse educational backgrounds, is informal and relatively non-technical. The emphasis is on practical application and decision making. Concepts are reinforced with diverse real-life examples, up-to-date information, expert advice, and a problem solving format. Easy-to-complete worksheets are integrated into the text. New "Surf?s Up" Internet Exercises have been added. The result is a quality text that is current and provides a thorough, conceptually sound treatment of the subject for both students and instructors alike.
Average customer rating:
|
Update on innocent spouse relief.: An article from: The Tax Adviser
Mark H. Ely
Manufacturer: American Institute of CPA's
ProductGroup: Book
Binding: Digital
General
| Business & Investing
| Subjects
| Books
General
| Personal Finance
| Business & Investing
| Subjects
| Books
Tax Planning
| Taxes
| Accounting
| Industries & Professions
| Business & Investing
| Subjects
| Books
Personal Finance
| Business & Investing
| Subjects
| e-Docs
| Formats
| Books
General
| Business & Investing
| HTML
| Formats
| e-Docs
| Formats
| Books
Personal Finance
| Business & Investing
| HTML
| Formats
| e-Docs
| Formats
| Books
ASIN: B0008HISTK
Release Date: 2005-07-28 |
Book Description
This digital document is an article from The Tax Adviser, published by American Institute of CPA's on January 1, 2001. The length of the article is 1679 words. The page length shown above is based on a typical 300-word page. The article is delivered in HTML format and is available in your Amazon.com Digital Locker immediately after purchase. You can view it with any web browser.
Citation Details
Title: Update on innocent spouse relief.
Author: Mark H. Ely
Publication:
The Tax Adviser (Magazine/Journal)
Date: January 1, 2001
Publisher: American Institute of CPA's
Volume: 32
Issue: 1
Page: 59
Distributed by Thomson Gale
Book Description
This digital document is an article from Tax Executive, published by Thomson Gale on July 1, 2005. The length of the article is 1933 words. The page length shown above is based on a typical 300-word page. The article is delivered in HTML format and is available in your Amazon.com Digital Locker immediately after purchase. You can view it with any web browser.
Citation Details
Title: Update on Michigan Supreme Court sales tax decision for Catalina Marketing.
Author: Patrick R. Van Tiflin
Publication:
Tax Executive (Magazine/Journal)
Date: July 1, 2005
Publisher: Thomson Gale
Volume: 57
Issue: 4
Page: 337(2)
Distributed by Thomson Gale
Book Description
From the "guru to Wall Street's gurus" comes the fundamental techniques of value investing and their applications
Bruce Greenwald is one of the leading authorities on value investing. Some of the savviest people on Wall Street have taken his Columbia Business School executive education course on the subject. Now this dynamic and popular teacher, with some colleagues, reveals the fundamental principles of value investing, the one investment technique that has proven itself consistently over time. After covering general techniques of value investing, the book proceeds to illustrate their applications through profiles of Warren Buffett, Michael Price, Mario Gabellio, and other successful value investors. A number of case studies highlight the techniques in practice.
Bruce C. N. Greenwald (New York, NY) is the Robert Heilbrunn Professor of Finance and Asset Management at Columbia University. Judd Kahn, PhD (New York, NY), is a member of Morningside Value Investors. Paul D. Sonkin (New York, NY) is the investment manager of the Hummingbird Value Fund. Michael van Biema (New York, NY) is an Assistant Professor at the Graduate School of Business, Columbia University.
Customer Reviews:
Exceptional Addition for Any Investor.......2007-07-07
Fantastic summary of modern value investing. Greenwald looks at the discipline with the critical eye of a professor, making it more informative than many other books about the subject. Even seasoned value investors will learn from this book.
Must-read for value investors!.......2007-07-01
What I Liked About It
* Details several valuation methods that I haven't seen in other non-academic, mainstream investing books.
* Several real-world examples to apply valuation methods
* Great treatment of brands vs. franchises
What Needed Work
* Various investor profiles unnecessarily fill the 2nd half of the book.
* Attempts at quantifying "franchise" felt a bit forced.
Greenwald's book ranks at the very top of my investing bookshelf. I read this after having read Graham, Greenblatt, Klarman, Lynch, P. Fisher, Cramer (yes, that Cramer!), Dorsey, Buffett, and Browne among others. Amazingly, this book broached a number of topics not covered by those prominent authors. As such, this book is required reading for the discerning investor.
The most important concepts this book gave me were valuation methods based on net asset value (NAV) and earnings power value (EPV). Before this, I had trouble valuing companies that didn't generate steady cash flow or have commodity assets. Now I have more angles from which to examine a prospect and find undervalued companies besides running a DCF analysis. We've heard about past opportunities where you could have bought a company like McDonalds for the price of its real estate and gotten the business for free. Greenwald shows you how to find these opportunities using his asset valuation methods. He also gives you the tools to fairly value "tech" companies (or any enterprise with heavy intangible capital). Less convincing is his discussion of earnings power value but nonetheless, it's still helpful to be able to examine a company's earnings ability.
Greenwald also spends time discussing problems with discount cash flow analysis (DCF) as well as franchises. While his thoughts on these subjects were thought-provoking, I don't completely agree with his conclusions.
On DCF, Greenwald says that trying to project future growth rates 5-10 years forward is folly and will distort your DCF analysis. While he is right that future growth projections are problematic, that doesn't mean DCF isn't helpful for individual investors. Greenwald concedes that his preferred methodologies require, in some instances, in-depth knowledge of the business and industry of the company being examined. The non-professional (me!) may not have this expertise and any estimates of asset worth or capital costs would be just as faulty as analyst growth estimates. In fact, an adjusted future growth rate derived from a number of industry-knowledgeable analysts may be more generally accurate (if imprecise).
The main knock against the book is the whole second half consisting of eight investor profiles. There's nothing wrong with them per se except that they are in the book at all. If I had wanted a book on famous value investors, I would have picked up something by Kirk Kazanjian. The chapter on Warren Buffett is almost exclusively quotations taken from freely available public reports and Seth Klarman has written his own book on investing.
I've written a more-indepth review at my enlightened-american website but in summary, my advice is to soak in the 1st half of the book and skip the 2nd half entirely. Dig into an annual report instead and start applying what Greenwald's shown you.
A MUST READ.......2006-11-13
find weak areas with strong fundamentals is secret according to this book. this is a good combo to Investing Without Losing (ISBN: 0978834607 NOT on amazn, on other stores), one is about the concept and the latter is about execution
the most comprehensive review on value.......2006-09-20
In short, this book is grounded on economics and common sense. It summarizes "the intelligent investor", "security analysis", and the modern books on Buffett pretty well (there are other paths to heaven besides Buffett's). Its verbiage is beautifully chosen and a joy to read, especially for avid value investors. Best of all it is a scholarly work - if you're sick and tired of the commercial investing books that flood bookstores, buy this book.
Must-read for serious investors of any stripe.......2006-08-12
A must-read for investors of any stripe, growth or value. This book, written by a couple of the most popular professors at Columbia Business School, explains the innovations in the field of value investing as practiced by some of the most successful investors in the field. (fair disclosure: I will be taking courses from them in 2007) This book successfully bridges the gap between the traditional Graham & Dodd style of value investing to what works today. Although it's a paperback, it's written with the density of a textbook. The writing style is not light, and the actual meat of the book takes some time to wade through. If you don't have some experience in accounting or corporate finance, then Joel Greenblatt's The Little Book That Beats the Market is good to read first.
The substance of this book is a process for modern value investing: value investing is not investing in lousy companies just because they appear cheap. The authors also teach a structured way to value a company. Finally, the authors address how to value growth.
First, before reading this book I had the mistaken impression that value investing was all about investing in the ugliest, least interesting company you could find just because it had a low P/E ratio. I was completely wrong! (Maybe I have attended too many stock pitch sessions and heard too many poultry stocks and encyclopedia companies get pitched.) Modern value investing, according the authors: "When B. Graham went scouring financial statements looking for his net-nets, it did not concern him that he may have known little about the industry in which he found his targets. All he was concerned with were asset values and a margin of safety by that measure. A contemporary value investor had better be able to identify and understand the sources of a company's franchise and the nature of its competitive advantages. Otherwise he or she is just another punter, taking a flier rather than making an investment." What a breath of fresh air to read this passage.
Second, this book lays out a structured way to value a company by first looking at reproduction costs of assets, then earnings power, and finally the value of profitable growth. I, like the authors, find traditional DCF valuations to be plagued by false precision. The authors' more practical method starts by adjusting the balance GAAP balance sheet to calculate the cost of the assets for a potential business entrant. Next, the company is valued based on the earnings generates consistently, assuming no growth. A key insight is the value of the franchise: the difference between asset value and Earnings Power Value is the value created by a company that has significant competitive advantage. Last, the value of profitable growth is considered.
As a self-admitted recovering growth stock addict, I learned from this book that value investors are skeptical about growth for two reasons. One reason is that it is so hard to predict, but more important, many times growth is not worth much. Unless the return on capital (ROC) of the company is higher than the cost of capital, growth does not create value. (I am a slow learner; Greenblatt's example in The Little Book That Beats the Market of opening an additional gum store is even clearer to me.) The growth matrix and formulas in the book were a revelation to me. The surprising thing is how little multiple expansion a stock deserves based on growth. Unless a company truly has a franchise, expanding into other areas and "diversifying" the business often destroys value. And growth for growth's sake will not make a stock go up.
This book brings value investing into the modern stock market. Modern value investors still use traditional valuation principles in a structured way, but they also consider the value of growth and the attractiveness of the business. What a relief, I not restricted to buying typewriter and pay phone stocks! The authors quote Warren Buffett: It's far better to buy a wonderful company at a fair price than a fair company at a wonderful price.
Books:
- The Phantom of the Movies' VIDEOSCOPE: The Ultimate Guide to the Latest, Greatest, and Weirdest Genre Videos
- The Rat Pack: Neon Nights with the Kings of Cool
- The Red Shoes: Turner Classic Movies British Film Guide (Turner Classic Movies British Film Guides)
- The Screenwriter's Survival Guide: Or, Guerrilla Meeting Tactics and Other Acts of War
- The Truman Show: The Shooting Script
- The Wizardry of Oz: The Artistry And Magic of The 1939 MGM Classic - Revised and Expanded
- Theatre to Cinema: Stage Pictorialism and the Early Feature Film
- Through Navajo Eyes: An Exploration in Film Communication and Anthropology
- Tim Burton: An Unauthorized Biography of the Filmmaker (Renaissance Books Director)
- Untangling Tolkien: A Chronology and Commentary for The Lord of the Rings
Books Index
Books Home
Recommended Books
- History: Fiction or Science
- A Potty for Me!: A Lift-the-Flap Instruction Manual
- The Art of Ratatouille
- The Big Fat Kill
- The Labor Relations Process
- Always Running: La Vida Loca: Gang Days in L.A.
- Two Years in St. Andrews: At Home on the 18th Hole
- The Evolution of Green Politics: Development and Change within European Green Parties
- The Labouring Poor in India: Patterns of Exploitation, Subordination, and Exclusion
- The Watermark: A Novella
Memories of a Munchkin: An Illustrated Walk Down the Yellow Brick Road
The Wizardry of Oz: The Artistry And Magic of The 1939 MGM Classic - Revised and Expanded
I Toto: The Autobiography of Terry, the Dog who was Toto
Dwarfism: Medical and Psychosocial Aspects of Profound Short Stature
The Ruby Slippers of Oz
