Collection Development "Personal Finance": Thrift for Tough Times

Orman, Suze. Women & Money: Owning the Power To Control Your Destiny. Spiegel & Grau. 2007. 253p. index. ISBN 978-0-385-51931-1. $24.95.

Ramsey, Dave. The Total Money Makeover: A Proven Plan for Financial Fitness. Thomas Nelson. 2007. 223p. ISBN 978-0-7852-8908-1. $24.99.

Yeager, Jeff. The Ultimate Cheapskate's Road Map to True Riches: A Practical (and Fun) Guide to Enjoying Life More by Spending Less. Broadway. 2008. 241p. ISBN 978-0-7679-2695-9. pap. $12.95.

Haden, Jeff. The Complete Dictionary of Real Estate Terms Explained: Simply What Smart Investors Need To Know. Atlantic Pub. 2007. 286p. ISBN 978-0-910627-01-6. pap. $21.95.

Reed, David. Mortgages 101: Quick Answers to Over 250 Critical Questions About Your Home Loan. 2d ed. AMACOM: American Management Assn. 2008. 294p. index. ISBN 978-0-8144-0166-8. pap. $16.95.

Segal, Lloyd. Stop Foreclosure Now: The Complete Guide to Saving Your Home and Your Credit. AMACOM: American Management Assn. 2008. 339p. ISBN 978-0-8144-1330-2. pap. $19.95.

Willis, Gerri. Home Rich: Increasing the Value of the Biggest Investment of Your Life. Ballantine. 2008. 270p. index. ISBN 978-0-345-49044-5. $25.

Armstrong, Frank, III & Jason R. Doss. The Retirement Challenge: Sink or Swim; A Complete Do-it-Yourself Toolkit To Navigate Your Financial Future. FT Pr. Jan. 2009. 266p. index. ISBN 978-0-13-236132-3. pap. $21.99.

Sitarz, Daniel. The Estate Planning Toolkit: The Ultimate Guide to Planning Your Estate. Nova, dist. by National Bk. Network. 2008. 383p. ISBN 978-1-892949-44-8. pap. $39.95 with CD-ROM.

J.K. Lasser Institute. J.K. Lasser's Your Income Tax 2009. Wiley. 2008. 816p. index. ISBN 978-0-470-28002-7. $85.

Weltman, Barbara. J.K. Lasser's Guide for Tough Times: Tax and Financial Solutions To See You Through. Wiley. 2009. 224p. index. ISBN 978-0-470-40232-0. pap. $18.95.

Understanding the crisis
Bookstaber, Richard. A Demon of Our Own Design: Markets, Hedge Funds, and the Perils of Financial Innovation. Wiley. 2007. 276p. ISBN 978-0-471-22727-4. $27.95.
Academic and financial pro Bookstaber brilliantly portrays the risks to our financial system due to the existence of derivatives trading, faulty financial models, incomplete hedging strategies, the constant need for market liquidity, and highly leveraged investors. His examination of financial crises (1987-present) is invaluable.

Friedman, Thomas L. The World Is Flat 3.0: A Brief History of the Twenty-First Century. Picador. 2007. 672p. ISBN 978-0-312-42507-4. pap. $16.
Smick, David M. The World Is Curved: Hidden Dangers to the Global Economy. Portfolio. 2008. 272p. ISBN 978-1-59184-218-7. $26.95. (LJ 9/15/08)
New York Times columnist Friedman explains better than anyone else the interconnected nature of our modern global economy and how it impacts people from New York and Boston to New Delhi and Beijing. Smick, a financial advisor to governments, examines the decline of worldwide financial liquidity resulting from the subprime crisis and puts up cautionary signposts to Friedman’s flat world. Read together, these titles would give any investor a solid footing from which to make investment decisions.

Kimelman, Nancy J. Common Cents: How the Economy Really Works—From the Global Market to the Supermarket. Sterling. 2008. 274p. bibliog. index. ISBN 978-1-4027-5256-8. $19.95.
For those trying to understand the concepts or just to get an overview of  today’s economic situation, Kimelman starts with a session in Economics 101 and continues with introductions to the stock and bond markets; the U.S. financial system; money, credit and wealth; health care issues; and the basics of middle class finance.

Kindleberger, Charles P. & Robert Aliber. Manias, Panics, and Crashes: A History of Financial Crises. 5th ed. Wiley. (Wiley Investment Classics). 2005. 368p. ISBN 978-0-471-46714-4. pap. $19.95.
Economics professor Kindleberger’s classic work provides a solid history of past financial crises and the ways in which they have been mitigated by governmental intervention. Most importantly, it explains the limits of intervention and why central banks talk about the “moral hazard” of bailouts. If nothing else, this book is reassuring in that it shows past crises did eventually end.

Shiller, Robert J. Irrational Exuberance. 2d ed. Princeton Univ. 2005. 304p. ISBN 978-0-691-12335-6. $35.
In the first edition of his study of U.S. market psychology, Yale economics professor Shiller predicted the bursting of the dot.com bubble. His second edition argued that the U.S. housing boom had entered into a speculative bubble phase. Shiller’s Cassandra-like warnings are insightful reading even if now seen in the rear-view mirror. (LJ 5/15/05)

Talbott, John R. Obamanomics: How Bottom-Up Economic Prosperity Will Replace Trickle-Down Economics. Seven Stories. 2008. 218p. ISBN 978-1-58322-865-4. pap. $16.95.
The first task for newly elected President Barack Obama.is to deal with the current economic crisis. This study is the first of its kind (written when Obama was still a presidential candidate running for office) and is based on the author’s analysis of Obama’s books, statements, and policy statements. Talbott examines the new President’s views not only on the current financial crisis but also on the environment, healthcare, economic justice and globalization and jobs.

Taleb, Nassim Nicholas. The Black Swan: The Impact of the Highly Improbable. Random. 2007. 366p. ISBN 978-1-4000-6351-2. $27.
In this somewhat rambling book, academic and former financial professional, Taleb explains the dangers of discounting the effects of improbable market stimuli. His work thus defines our current financial crisis, in which financial institutions leveraged themselves to invest in mortgaged-backed securities in the belief that they were completely safe and that a prolonged wide-ranging housing downturn was not merely improbable, but impossible. (LJ 4/1/07)

Waggoner, John. Bailout: What the Rescue of Bear Stearns and the Credit Crisis Mean for Your Investments. Wiley. 2008. 196p. index. ISBN 978-0-470-40125-5. $24.95.
USA Today investment columnist Waggoner discusses the causes and implications of the Bear Stearns collapse and how to protect portfolios during the current credit crisis. Strategies include paying off one’s debts and investing in treasury securities.

Zandi, Mark. Financial Shock: A 360 (Degree) Look at the Subprime Mortgage Implosion and How to Avoid the Next Financial Crisis. FT Pr. 2009. 270p. index. ISBN 978-0-13-714290-3. $24.99.
With great clarity, Zandi, chief economist & co-founder of Moody’s Economy.com (www.economy.com), explains the causes and global effects of the subprime mortgage crisis, providing advice to consumers on how to cope.

General guides 
Fisher, Ken with Lara Hoffmans. The Ten Roads to Riches: The Way the Wealthy Got There (And How You Can Too!). Wiley. 2008. 272p. ISBN 978-0-470-28536-7. $24.95.
“Aim high” is  the catchphrase here. Bestselling author Fisher describes ten ways to get rich, assessing both the good and bad qualities of each possible route for personal financial planning. Also discusses how to get ahead at work and offers  real case studies of success.

Investing basics
Altucher, James. The Forever Portfolio: How To Pick Stocks That You Can Hold for the Long Run. Portfolio. 2008. 256p. ISBN 978-1-59184-211-8. $27.95.
Altucher, founder of the social networking web site stockpickr.com explains how to find stocks that should benefit from long-term demographic trends and how to piggyback onto the research of successful professional investors. An irreverent style makes for easy but informative reading.

Benz, Christine. Morningstar Guide to Mutual Funds: Five-Star Strategies for Success. 2d ed. Wiley. 2007. 304p. ISBN 978-0-470-13753-6. pap. $16.95.
Benz (director, Morningstar investment research) uses the authoritative and objective Morningstar methodology to show individual investors how to evaluate mutual funds and put together a diversified portfolio. The chapter on dealing with volatile markets provides soothing advice in turbulent times. The best starting point for individual investors considering mutual funds.

Dorsey, Pat. The Five Rules for Successful Stock Investing: Morningstar’s Guide to Building Wealth and Winning in the Market. Wiley. 2004. 364p. ISBN 978-0-471-68617-0. pap. $16.95.
This thorough introductory guide to stock evaluation and selection by a Morning Star director gently builds concept upon concept in analyzing and comparing corporate balance sheets to find investable value. He makes metrics understandable and useful. Anyone picking his or her own stocks would benefit from reading this guide.

Graham, Benjamin & David L. Dodd. Security Analysis. 6th. ed. McGraw-Hill. 2008. 766p. index. ISBN 978-0-07-160312-6. $75. plus CD-ROM.
This classic by “the father of value investing” includes  text of the 1940 original edition with added essays contributed by today’s leading value investors, and academic and financial writers. With a foreword by Warren Buffett.

Graham, Benjamin & Jason Zweig. The Intelligent Investor: A Book of Practical Counsel. rev. ed. HarperBusiness: HarperCollins. 2003. 623p. ISBN 978-0-06-055566-5. pap. $19.95.
The classic book on value investing. Though some of the examples may seem dated, Graham’s careful value approach stemming from the debacle of the Great Depression has renewed relevancy for investing in today’s volatile markets.

Greenblatt, Joel. The Little Book That Beats the Market. Wiley. 2006. 155p. ISBN 978-0-471-73306-5. $19.95.
Greenblatt, an investment professional, gives the simplest possible explanation of how a company’s earnings growth can impact its stock value. He then discusses how investors can achieve long-term financial success by investing in solid companies that have a good return on invested capital. (LJ 1/06)

Little, Jeffrey B. & Lucien Rhodes. Understanding Wall Street. 4th ed. McGraw-Hill. . 2004. 305p. ISBN 978-0-07-143373-0. pap. $14.95.
Both accessible to novices and comprehensive in its inclusion of financial assets (e.g., stocks, bonds, options, precious metals), this guide explains how the markets work and how to do investment research.

Malkiel, Burton G. A Random Walk Down Wall Street: The Time Tested Strategy for Successful Investing. 9th ed. Norton. 2007. 414p. index. ISBN 978-0-393-06245-8. $29.95. pap. ISBN 978-0-393-06245-8. $18.95.
Economist Malkiel has been one of the strongest advocates for the random walk theory, which dictates that stock market moves cannot be predicted. First published in 1973, his classic b ook describes prior financial panics and offers clear-cut advice for investors. (LJ 2/1/96)

Mobius, Mark. Mutual Funds: An Introduction to the Core Concepts. Wiley. (Mark Mobius Masterclass) 2007. 194p. bibliog. index. ISBN 978-0-470-82143-5. $34.95.
Legendary emerging markets investor Mobius takes a textbook approach to explaining the minutiae of mutual funds. Using myriad illustrations, he explains how to read prospectuses, evaluate funds, and put together a balanced portfolio.

Siegel, Jeremy J. The Future for Investors: Why the Tried and the True Triumph over the Bold and the New. Crown Business. 2005. 318p. ISBN 978-1-4000-8198-1. $27.50.
Piggybacking on Siegel’s classic Stocks for the Long Run, this work explains how to pick the boring long-term profitable stocks over the exciting but ultimately overvalued losers.

Investing for professionals
Jabbour, George & Phillip Budwick. The Option Trader Handbook: Strategies and Trade Adjustments. Wiley. 2004. 338p. ISBN 978-0-471-56707-3. $85.
Written by financial professionals, this invaluable handbook explains the use of stock options such as calls, puts, straddles, strangles, and spreads. The discussions of strategies to employ in different scenarios and the graphical representations of risk/reward accruing to various option combinations are the work’s strengths.

Kahn, Michael N. Technical Analysis Plain and Simple: Charting the Markets in Your Language. 2d ed. FT Pr. 2006. 309p. ISBN 978-0-13-134597-3. $25.99.
Technical analysis, for some investors,  is hocus-pocus; others believe that the patterns in the charts of securities can predict their future direction. Practicing technical analyst Kahn explains the nuances of the field from Bollinger bands to wave analysis in language that anyone can understand.

Investment biographies
Cramer, James J. Confessions of a Street Addict. S. & S. 2002. 339p. ISBN 978-0-7432-2487-1. $26; pap. ISBN 978-0-7432-2488-8. $15.
Popular CNBC investment advisor Cramer bears all in this brilliantly written and entertaining account of his life-long love affair with stock market investing. Cramer’s story can give readers important insights into the world of brokers and hedge funds. (LJ 5/1/02)

Ellis, Charles D. The Partnership: The Making of Goldman Sachs. Penguin Pr: Penguin Group (USA). 2008. 752p. ISBN 978-1-59420-189-9. $37.95.
Ellis reveals how over the last 100 years of market turmoil Goldlman Sachs has constantly reinvented itself to prosper. The current 2008 financial crisis may be the ultimate test of the brokerage firm’s ability to survive. (LJ 8/08)

Schroeder, Alice. The Snowball: Warren Buffett and the Business of Life. Bantam. 2008. 960p. ISBN 978-0-553-80509-3. $35.
Buffett is by all measures the world’s greatest investor. This massive but well-written biography explains how he amassed his fortune by looking for opportunities during market downturns and allowing time to create value through the laws of compounding like a snowball increasing in size as it rolls downhill.(Xpress review, 11/4/08)

Home ownership
Bray, Ilona & Alayna Schroeder. The Essential Guide for First-Time Homeowners: Maximize Your Investment and Enjoy Your New Home. Nolo. (USAToday/Nolo). 2008. 338p. ISBN 978-1-4133-0895-2. pap. $19.95.
The attorney authors offer address the concerns of homebuyers, including  taxation, budgeting, and mortgage payments. Features excerpts of USA Today articles, charts, and sample budgets.

Bronchick, William & Ray Cooper. How To Sell a House Fast in a Slow Real Estate Market: A 30-Day Plan for Motivated Sellers. Wiley. 2008. 230p. index. ISBN 978-0-470-38260-8. pap. $19.95.
Urging that sellers take a proactive attitude, the authors, an attorney and real estate broker respectively, outline techniques and strategies (e.g., seller financing, setting the right price. etc.) for selling a house quickly and at the highest price possible in a slow market. Includes a useful directory of websites for professional associations and government agencies.

Elias, Stephen. The Foreclosure Survival Guide: Keep Your House or Walk Away with Money in Your Pocket. Nolo. 2008. 288p. index. ISBN 978-1-4133-0910-2. pap. $21.99.
Outlining state by state foreclosure procedures, attorney Elias also advises financially strapped home owners facing foreclosure on what to consider when deciding whether or not try to keep the house. He includes tips on negotiating with a lender and using bankruptcy to avoid a foreclosure. (LJ 11/15/08)

Randel, Jim. The Skinny on the Housing Crisis: What Every Homeowner and Homebuyer Needs To Know. Clover Leaf. 2008. 269p. illus. bibliog. ISBN 978-0-981-8935-2-5. pap. $12.95
Randel (Confessions of a Real Estate Entrepreneur) explains the causes and impact of the current housing crisis, and advises consumers on how to avoid from getting in over their heads Illustrated  stick figures Billy and Beth, who lose their home to foreclosure, help to clarify the concepts discussed.

Reed, David. An Insider’s Guide to Refinancing Your Mortgage. AMACOM: American Management Assn. 2008. 212p. index. ISBN 978-0-8144-0935-0. pap. $16.95.
Mortgage banker Reed (columnist, Reality Times) defines types of mortgage refinancing, reasons to consider refinancing, interest rates, and how to save money. (LJ 9/15/08).

Remley, Jim. Sell Your Home in Any Market: 50 Surprisingly Simple Strategies for Getting Top Dollar Fast. AMACOM: American Management Assn. 2008. 232p. index. ISBN 978-0-8144-0028-9. pap. $15.
According to real estate veteran Remley, “every home has a buyer”. He considers  whether to sell privately or through a realtor, setting the right price, web marketing, promotion, evaluating offers, and what to do in a stagnant market. (LJ 3/1/08)

Roberts, Ralph R. & Chip Cummings. Foreclosure Myths: 77 Secrets to Making Money on Distressed Properties. Wiley. 2008. bibliog. index. ISBN 978-0-470-28958-7. pap. $18.95.
Dispelling some of the myths of buying foreclosed property.(e.g., foreclosed properties are always in terrible shape, you need a lot of money to start investing, etc.), the authors  step by step analysis and guidance through the process.

Segal, Lloyd. Stop Foreclosure Now: The Complete Guide to Saving Your Home and Your Credit. AMACOM: American Management Assn. 2007. 339p. ISBN 978-0-8144-1330-2. pap. $19.95.
Segal (founder, California Foreclosure Inst.) offers practical step by step advice for avoiding foreclosure. Includes a summary of state foreclosure laws, a glossary, and sample documents.

The mortgage crisis 
Bitner, Richard. Confessions of a Subprime Lender: An Insider’s Tale of Greed, Fraud, and Ignorance. Wiley. 2008. 186p. bibliog. ISBN 978-0-470-40219-1. pap. $19.95.
A veteran of the mortgage industry analyzes what went wrong and what led up to the subprime mortgage crisis. Bitner also notes that “significant mistakes were also taking place within other mortgage product offerings.”

Shiller, Robert J. The Subprime Solution: How Today’s Global Financial Crisis Happened and What To Do About It. PrincetonUniv. 2008. 196p. index. ISBN 978-0-691-13929-6. $16.95.
Shiller (economics, Yale Univ.) studies the subprime crisis, background history, and psychological origins. He also offers short-term and long-term solutions.

Retirement
Slesnick, Twila & John C. Suttle. Nolo’s Essential Retirement Tax Guide: Your Health, Home, Investments, and More. Nolo. 2008. ISBN 978-1-4133-0912-6. pap. $24.99.
Maintaining that tax benefits are still available after retirement, the authors explain how retirement plans and pensions are taxed and offer tips on how to save on taxes.

Stim, Richard & Ralph Warner. Retire Happy: What You Can Do NOW To Guarantee a Great Retirement. Nolo. (USA TODAY/Nolo).  2008. 248p. ISBN 978-1-413-30835-8. pap. $19.99.
Offering a holistic approach, this guide thoroughly addresses both the financial and emotional aspects of retirements. (LJ 3/15/08)

Taxes
Block, Sandra & Stephen Fishman.. Easy Ways To Lower Your Taxes: Simple Strategies Every Taxpayer Should Know. Nolo. (USAToday/Nolo). 2008. ISBN 978-1-4133-0913-3. pap. $19.99
USA Today financial columnist Block and attorney Fishman examines ways to reduce taxes via tax credits and the most effective use of tax deductions.

Daily, Frederick W. Stand Up to the IRS. 8th ed. Nolo. 2007. 378p. index. ISBN 978-1-4133-0559-3. $29.95.
Tax attorney Daily offers practical advice for taxpayers facing  the dreaded audit, including  going to tax court, preparing for the audit, appealing the audit, and fraud and tax crimes.

DVD
Maxed Out: Nothing Is Priceless. color. 87 min. Truly Indie, dist. by Magnolia Home Entertainment. 2007. $19.98.
This sobering documentary presents the pitfalls of consumer debt in the United States through the profiles of  several people including a college student who became so depressed over their indebtedness that they committed suicide. It also shows some of the methods of debt collection agencies to intimidate and cajole debtors into making payments.

Web sites
CNBC
www.cnbc.com
CNBC’s web site, like its parent cable network, is a frenetic hive of financial news and opinion. The streaming video capability is useful for catching stories and interviews that aired earlier on the network.

Department of Housing and Urban Development
www.hud.gov
This federal agency site provides advice on how to avoid foreclosure, disaster housing assistance programs, filing a housing discrimination complaint, and more.

Fannie Mae
www.fanniemae.com
The mission of this government sponsored enterprise is to provide liquidity and stability to the U.S. housing and mortgage markets. The web site lists homes for sale and contains advice on how to avoid foreclosure, among other features.

Freddie Mac
www.freddiemac.com
Freddie Mac’s stated mission is to provide liquidity, stability, and affordability to the housing market. The site features a how-to-guide to buying a home (including how to prepare for home ownership, obtaining mortgages, and avoiding foreclosure). Also lists properties for sale.

The Mortgage Calculator
mortgages.interest.com/content/calculators/index.asp
Home owners can use the various online calculators (required income mortgage calculator, interest only mortgage calculator, adjustable rate mortgage calculator, refinance mortgage calculator, APR mortgage calculator) to determine their payment options.

Morningstar
www.morningstar.com
A wonderful source for objective recommendations on mutual funds, stocks, and other investments. While the free portion provides a good deal of information, the recommendations require a paid membership.

The Motley Fool
www.motleyfool.com
Like other investing websites, this has free and subscription services. In addition to news and stock quotes, Motley Fool features discussion boards and compiles recommendations from its community members.

MSN Money Central
moneycentral.msn.com
Like Yahoo Finance, below, the MSN Money site is strong on recent news and company financials. It is especially good at compiling earning estimates and has tools for finding investment ideas.

NASDAQ
www.nasdaq.com
Current market information plus a personal finance section with tips on credit cards, protecting personal assets, steps toward a debt free life, and online investing.

National Association of Realtors
www.realtor.com
Search real estate listings: homes for sale and rental properties. Also  Advises consumers on how to calculate values of their homes.

New York Stock Exchange (NYSE)
www.nyse.com
Features section for individual investors: with FAQs, investor education information, and news items, plus current individual stock price information and Dow Jones Average.

TheStreet.com
www.thestreet.com
The free section of CNBC host Jim Cramer’s website offers a wealth of news and opinion on all aspects of investing but particularly stocks. This site is also an entry point for stockpickr.com, a social networking site where individual investors can post portfolios, exchange ideas, and see what the professionals are buying.

U.S Department of the Treasury
www.ustreas.gov
Site contains full text of Emergency Economic Stabilization Act plus news reports, etc.

Yahoo! Finance
finance.yahoo.com
Features news reports, and advice on taxes, mortgages, retirement, financial planning, investments, etc.