The secret of shelter island : money and what matters

by Alexander Green. Most of us devote a substantial percentage of our waking hours to making, spending and having more. This desire to accumulate is natural. But when a bigger bank balance – or the things it can buy - becomes our animating purpose, disappointment generally follows. In The Secret of Shelter Island, nationally renowned financial analyst and bestselling author Alexander Green explores the complicated relationship we all have with money and reveals the road map to a rich life. (Check Catalog)

Adland : searching for the meaning of life on a branded planet

by James P. Othmer. Advertising veteran Othmer weathered a couple of decades on the creative side of the field before throwing in the portfolio to write this book. Admen are known not only for their creativity but for their quirkiness and iconoclasm as well, and this book clearly demonstrates the best traits of the trade: it's funny, clever, irreverent, gossipy, and surprisingly insightful about advertising, human nature, and the postmodern business world. Othmer's novel, The Futurist, was acclaimed for its biting wit and satire, which are evident here as the author chronicles his rise from bricklayer to muckety-muck on the creative side of a renowned agency and his trip out the back door again to the real world. VERDICT For anyone interested in a career in advertising, this is essential reading—at least to know what one is in for. But the book's relevance goes well beyond any sort of career preview or critique. In highly enlivening style, Othmer offers astute assessments of the world of business. —Library Journal (Check catalog)

The heretics of finance : conversations with leading practitioners of technical analysis

by Andrew W. Lo. Lo (MIT, creator of the adaptive market hypothesis) and Hasanhodzic (research scientist, AlphaSimplex) have compiled a series of "conversations" with technical analysts (e.g., Ralph Acampora, Gail Dudack, and John Murphy) who use this type of analysis to develop investment or trading strategies. Since the efficient market hypothesis asserts that the use of technical analysis does not produce superior returns, the technical analysts are the "heretics" of the book's title. In the first part of the book, chapters feature interviews with each analyst and cover similar questions, e.g., "What led to your interest in technical analysis?" or "If all patterns/indicators/strategies are in the public domain, what accounts for your superior returns?" These interviews provide an overview of each analyst's approach. The second half of the book provides the heretics' answers to general topics such as the evolution of technical analysis, the role of emotions, and personal traits (e.g., creativity and skepticism). Successful technical analysts appear to have unique traits that contribute to their success. Whether such success can be transferred to other investors is doubtful, and this is a primary lesson readers should draw from these interesting interviews. --Choice (Check Catalog)

$20 per gallon : how the inevitable rise in the price of gasoline will change our lives for the better

by Christopher Steiner. According to Steiner, senior staff reporter at Forbes magazine, surging fuel prices will transform Americans' daily lives almost beyond recognition. With traditional energy sources disappearing and global demand soaring, the U.S. will confront gas prices rocketing to $6, $8, $14 and beyond—prices that will compel sweeping changes in everything from urban planning to food production. He reveals the consequences of each incremental hike in gas prices: at $8 per gallon, air travel will essentially vanish; at $14 a gallon, Wal-Mart stores will become empty ghost boxes ; when gas hits $16 a gallon, sushi will become an extravagance only for the extremely wealthy. While many changes will come at tremendous social and economic cost, Steiner envisions a better future, where human ingenuity will spur greater efficiency and less waste. Although it's unlikely all the author's predictions will come true—he goes so far as to forecast the order in which airlines will go out of business—the surprising snapshots of the future (where rising gas prices might revitalize Detroit) make for vivid and compelling reading. --Publisher's Weekly. (Check Catalog)

Never make the first offer : (except when you should) : wisdom from a master dealmaker

by Donald L. Dell. Legendary sports agent Dell reveals the secrets to successful negotiating in this spellbinding, behind-the-scenes look at deal making in the high stakes world of professional athletics. The treasure trove of practical advice is backed up by mesmerizing tales of the deals Dell closed on behalf of such stars as Arthur Ashe, Michael Jordan, Jimmy Connors and Patrick Ewing. The author drives home simple yet powerful business lessons: he recalls how his negotiation for a new Michael Jordan basketball shoe reached an impasse until Nike exec Peter Moore blurted out a clear concept for a line called Air Jordan, which subsequently became the biggest licensing deal in history; and his own temper cost him a deal signing a promising young tennis star. Sidebars offer advice from athletes, politicians and dealmakers including former senator and Basketball Hall of Fame player Bill Bradley and former senator George Mitchell, who negotiated the Good Friday peace agreement of 1998 in Northern Ireland. Dell reveals that successful deal making requires strong relationships, trust, self-awareness—the very qualities his star clients embody. --Publisher's Weekly. (Check Catalog)

The myth of the rational market : a history of risk, reward, and delusion on Wall Street

by Justin Fox. Fox, a Time editor at large and economics columnist, here takes readers through the history of academic research on financial markets since the late 19th century. He focuses on the development of the Efficient Market Theory and its fall from dominance, which resulted largely from the rise of behavioral finance. The Efficient Market Theory uses mathematical models to show that investors act on information as it becomes available, making pricing so efficient that an investor would be unable to beat the market without insider information. Fox argues convincingly that this theory has been eclipsed by behavioral finance, which studies investors' psychology to show that markets are not as rational as the Efficient Market Theory presents. The style here is journalistic, with personal stories that make the book entertaining, but ultimately this is a history of academic thought-complete with endnotes-and is best suited for students of finance or people interested in financial theory.-Library Journal (Check Catalog)

In Fed we trust : Ben Bernanke's war on the great panic

by David Wessel. As the central bank of the U.S., the Federal Reserve sets interest rates and provides liquidity to banks in order to provide stability to the financial system. When the financial meltdown that began in 2007 led to the unprecedented failures of Bear Stearns, Fannie Mae and Freddie Mac, AIG, WaMu, and Lehman Brothers, the Fed was called on to take a much larger role, essentially becoming an independent fourth branch of the government. It is often said that the Fed chairman is the second most powerful person in the world, and when Alan Greenspan left the post in 2005, his successor, Ben Bernanke, along with Treasury Secretary Hank Paulson, would soon face problems that were far more challenging than those of Greenspan's tenure. Wessel's account is a history of the Fed, a biography of Bernanke, and a blow-by-blow account of the decision-making process that took place as Bernanke and Paulson used desperate measures to try to right a rapidly sinking ship. Bernanke failed to anticipate the severity of the financial downturn, but perhaps he did the best that any man could be expected to do. --Booklist. (Check Catalog)