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Running head: BOOK REVIEWS

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Book reviews
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BOOK REVIEWS

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Book reviews

Common stocks and uncommon profit by Philip Fisher
This book primarily gives insights on how long-term investments can be controlled better
and what most people often consider when investing in various organizations. Fisher also offers
ideas on what good business is supposed to have. I believe that the author has succeeded in
giving good insights about business investments and this book is worth a read for the people
looking forward to developing their investment philosophies (Fisher, 2003). I am also aware that
investment is a process and at the same time it is complicated. Therefore, that is the reason why
Fisher brings to the limelight that investment is all about being disciplined and adhering to one’s
approach for one to emerge as a successful and disciplined investor. However, this book is quite
old, and some of the situations considered by the author might seem obsolete, but in the long run,
I believe that business content is quite timeless (Fisher, 2003).
Irrational Exuberance by Robert Shiller
This book provides a historical perspective on equity markets from the year 2000,
housing markets as well as the commodity prices. I feel that the book is too short and it only
provides an essential perspective on both housing and equity markets and at the same time too
little on commodity markets. For this reason, I am convinced that this book would best suite
serious investors, finance and economics students (Shiller, 2006). The book has also succeeded
in explaining most of the concepts in economic psychology, and the author has done an excellent
job in describing how psychological factors have had an impact on bubbles. The book fails in
describing fully some of the solutions that could be effective in reducing the growth of bubbles.
The author uses a highly enjoyable writing style, unlike other economic books. (Shiller, 2006)

BOOK REVIEWS

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Shiller ends this book by offering sensible advice to investors and policymakers regarding
financial future.
One up on Wall Street by Peter Lynch
Many people have highly recommended this book, and I have read several
recommendations about it especially for those interested in investing. This book encourages
people to invest in what they know and in any company one feels good in. The author of this
book wants people to participate in the economy so that they can remain aware of the possible
trends and new investing opportunities (Lynch, 2000). I believe Lynch is right in this because
learning more about investing before investing provides the average person with a competitive
edge against other professional investors. This book is easy to read and to understand, and the
most exciting fact is that the author does not use technical terms to give insights on how he
invested. Moreover, this book provides insights on how the author admits his failures and how he
missed some of the fantastic opportunities and in this way, it opens the reader’s mind (Lynch,
2000).
Against the Gods by Peter Bernstein
Would highly recommend this book, only ten pages and the author has succeeded in
giving enough insights concerning mathematics. The book focuses on providing concepts
relating to statistics and probability as well as explaining behavioral finance and the modern
portfolio theory. It shows actual mathematics behind the named thoughts, and this helps the
reader to use them in their work (Bernstein, 1998). Would regard Bernstein as a genius because
he gives a historical perspective on how problems of prediction have been handled. This book
motivates a reader to engage their brains to grasps most of the concepts regarding approaches to

BOOK REVIEWS

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dealing with the issue of uncertainty. Moreover, I found the book very informative because it
provides information about the stock market and I feel it fails because the author could have
focused more on developing the predictive analytics (Bernstein, 1998). Instead, Bernstein
focuses more on markets and the decision theory implemented by Kahneman.
The Alchemy of Finance by George Soros
This book is all about finance and economics. The author focuses on the impact of the
stock price on its valuation. This book is flawed despite having financial and economic insights.
This is because the first few chapters flow well but down other chapters, there is way too much
historical information that does not add up, and that is not helpful either (Soros, 2007). There are
many additional charts in the texts, and much of this explained information is explained well in
other sources. Moreover, the title of this book is complicated and does not reflect more of what is
defined in the text (Soros, 2007). This book is not satisfying and does not meet the requirements
as described on the title. The writing style used is not gratifying, and although there are fair
comments, I am convinced that much of this boo...