Travel Industry World 2002 Yearbook: The Big Picture (Travel Industry World Yearbook)

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Tax Facts on Investment 2005: Stocks, Bonds, Mutual Funds, Real Estate, Oil & Gas, Puts, Calls, Futures, Gold, Savings Deposits (Tax Facts 2)

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Tax Facts on Investment 2005: Stocks, Bonds, Mutual Funds, Real Estate, Oil & Gas, Puts, Calls, Futures, Gold, Savings Deposits (Tax Facts 2)

Manufacturer: Natl Underwriter Co
ProductGroup: Book
Binding: Paperback

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Tax Facts on Insurance & Employee Benefits 2005: Life & Health Insurance, Annuities, Employee Plans, Estates Planning & Trusts, Business Continuation (Tax Facts on Insurance & Employee Beneftis)

ASIN: 0872186598

The Fourth Mega-Market, Now Through 2011: How Three Earlier Bull Markets Explain The Present And Predict The Future

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Some Interesting Thoughts But Nothing Revolutionary
An interesting history lesson
Peace is bullish
Mega-Interesting !
The Fourth Mega-Market, Now Through 2011

The Fourth Mega-Market, Now Through 2011: How Three Earlier Bull Markets Explain The Present And Predict The Future
Ralph Acampora
Manufacturer: Simon & Schuster Audio
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Binding: Audio CD

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ASIN: 0743506847

Book Description

What do you call a bull market that lasts at least ten years, includes steep corrections and cycles of vicious rotation, but results in a quadrupling of the Dow, a stratospheric rise in new technology, and the creation of staggering amounts of wealth? Ralph Acampora, one of Wall Street's most influential analysts, calls it a mega-market.

In The Fourth Mega-Market, Acampora shows how the current mega-market has clear parallels to three earlier markets, and explains to investors how the lessons of the past can be utilized to their advantage in the marketplace.

History shows us the ways that investors will react under certain circumstances, and Ralph Acampora shows us that looking back is the best way to see what's coming ahead. He teaches listeners to recognize patterns that can help explain market performance. He offers advice on spotting and protecting yourself from the inevitable corrections that occur with regularity in every mega-market.

Finally, he makes exciting predictions of where the mega-market will go before it ends and how it will get there. He helps us to understand ways to invest our money and ride the current wave to wealth.

Customer Reviews:

Some Interesting Thoughts But Nothing Revolutionary.......2006-01-31

Since you can buy this book pretty cheaply now, it is probably worth reading. Every book has a couple of ideas in it that are interesting to think about and Mr. Acampora has enough experience in the market to offer some different perspectives. But, you are probably not going to learn much that will directly impact your ability to profit in the market.

An interesting history lesson.......2006-01-04

The book was written at the end of the dot com boom days and it forecasts bull market for another 10 years. Of course, we all know the market is still below 11000, but this would be to easier to blame the author for that. What is more interested is why he made that prediction. One of the key reasons is that according to him peace is always bullish and end of a war pushes the market up. It's not straightforward how to apply that to the current situation. The author was sure back in 2000 that the US is secure and no war is coming. Ok, he obviously missed the war on terror. Also, it's not clear what would mark the end of this war. By the way, according to the author the Korean war and some other onces were not big obstacles for the bull markets, but the others were. Would be interesting to know how the war on terror is supposed to be treated? So even if his conclusions sound convincing, it's really hard to apply them and even the author was wrong in many of his predictions based on his own ideas.

So this is a typical techinical analyst book. Everything seems to reasonable looking back in history, but the crystal ball is hazy and can be read either way.

Overall, this is a nice overview of the US market history for the last 150 years, but I wouldn't take the boldest predictions about the mega bull market too seriously.

Peace is bullish.......2005-12-01

Peace is bullish. The 1980s were characterized by double digit inflation. Inflation is a stock price killer. Inflation cost individuals thousands of jobs. The prime rate reached 21.5%, at the same time US bonds became a terrific investment, the dollar climbed, consumer spending increased, LBO increased as opportunist bought undervalued companies with small cash and heavy financing. By 1987 the DOW hit 2,700, a 300% increase in five years then Iran bombed an Iraqi oil tanker and the DOW fell 508 points, 23%, in one day. A stealth bear market had emerged with 70% of the stock issues losing 20% of their value. However, the 50 day moving average had moved above the 200 day moving average, a buy signal; interest rates were coming down; by 1995, the DOW was experiencing a 900 point breakaway lead by IBM; technology was ushered in combating inefficient practices; Bull signals were strong: 96-DOW 5,778, 97-DOW 8020, 98-DOW 7539 (Transportation remained flat), 00-DOW 11,722 (Dot com); Ten bull rallies were very profitable yielding 24.5% gains on the average of 4 ½ months with the worst sell off in 98 with a lose of -20.8%. GE looked good. GE had adapted and turned their focus too new technologies maintain a three prong domain focus of appliances, heavy industry, and finance. Jack Welch cut costs eliminating one hundred GE businesses cutting out coal mining, oil refining, and housewares; cut 40 of the workforce; changed the domain focus to advanced medical devices, improved productivity, and new technologies that benefited the consumer and increased profit margins. 1995, a Bank Bailout by the IMF saved the economy. Mexico had a huge trade deficit and as the deficit balloon so did the borrowing. The over extension of credit devalued the Mexican currency; as the Mexican currency devalued money moved out of the country; the Mexican bond market nearly collapsed and credit vaporized and loan defaults escalated; the IMF infused $35 billion in loans to save the failing Mexican economy.

A bull market needs peace. The results of a peace dividend are decreased spending. However, today, the war on terrorism has increased government spending and enlarged the national debt. The peace dividend reduces government debt. Today, war has moved the national surplus into a national debt. Military spending is predict to increase funding paychecks for 450,000 military personnel, 136 military installations in NATO countries, investments into new weapon technology, and rebuilding of decimated countries, after military conflicts. The peace dividend expands global trade and allows manifests itself in efficient free trade markets that operate on principles of supply and demand. Today, the WTO espouses free trade but interferes in the operations of trade through regulation that artificially create demand. The WTO weakness is its belief that it is smarter than the free market. The peace dividend lead too the fall of communism as military industrial competition, dollar hegemony, and economic pressures forced communism out of business. Today, American jobs are being outsourced to foreign countries, a bet that the dollar will demise. The net affect of job redistribution has been a rise of capitalism in China, Japan, S Korea, South East Asia, and India. Peace dividend encourages employees to work beyond retirement leaving 401k investment untampered. Welfare programs are expensive: Social security unreliability and Medicare insufficient funding and coverage threaten the old, as rising medical costs hamper need medicine and treatment.

Trade axioms are as follows: 1. War is inflationary 2. Peace is deflationary 3. War is unproductive 4. Peace is productive 5. War is a time of fear and despair 6. Peace is a time of hope and prosperity. Investors fear losses but gain confidence when profits start to flow and eventual succumb to greed. Skittish buyers come back into the game buying conservative stocks: solid earnings and secure dividends. Bears become complacent, experience concern, and capitulate. Your fortune is measured by how well your stock price has fared. Phase I-the stock price is pronounced neutral, phase II-price is in an upward trend, phase III-price reverts from strong upward bias towards neutral price range swings, and phase IV-price breaks down. A/D technical indicators tell the investor when the majority of the stocks fail to confirm the strength of the leading blue chip stocks, market leadership is said to be too narrow. The author does admit that A/D can not predict a sudden change in the price and further reinforces that after a peak sudden price drops will happen.

The fourth Mega trend started in 1994 based on the A/D line and the 50/200 moving average. PE ratios are low. Over 1,100 large cap companies had PE ratios less than 20. If you take technology stocks out of the entire group the PE ratio falls to 12.1, a number below the mean of 15/17. The 4th Mega Trend experienced 24% growth over 4 ½ months, the 3rd Mega Trend experienced 38.6% growth over 16 months, the 2nd Mega Trend experienced 18% growth over 3 ½ months, and the 1st Mega trend experience 40% growth over 16 moths. Between July 1998 and Sep 1998, the DOW dropped -20.8%
Prediction 1, the DOW will hit 13,725.60 by 2009, Prediction 2, the Dow will hit 21,545.58 by 2003 (oops), and Prediction 3, the Dow will hit 22,354.67 by 2011. 2006 is expected to be a bad year for the DOW. The author must be betting on rising Oil profits and new technology too support the bull and new militarism will produce peace and the expanding production/taxes will support the interest payments on national debt.

Mega-Interesting !.......2005-05-28

Ralph Acampora is an outstanding technical analysis for Prudential Securities. He is probably most famous for his 1995 forecast that the Dow Jones Industrial Average (DJIA) would hit 7,000 within a few years. Back then the DJIA was in the low 4,000 range and this was a bold forecast at a time when many considered the stock market overvalued. Acampora nailed both the target and the timeframe.

Unfortunately, anybody in the public eye as much as a stock market prognositcator is bound to be wrong many times, and sometimes at important junctures. Acampora was negative on the stock market at the key bottom early in October 1998 (though to be fair, he was presciently bearish 2 months earlier when stocks had been soaring). Although he reversed course and was bullish during the bubble era, he did miss the bottom and some of the "lift-off" rally. And judging by the book, it appears his Big Picture view was wrong in 2000, though whether or not he moved to the sidelines in his daily Prudential commentaries during 2000-2002 is something I am not privvy to.

Of course, Acampora's book predicts that the DJIA could hit 20,000 by 2011. At the time of publication, this was a seemingly big number but one which only implied about 7% compounded returns. Five years later, at about the same DJIA level, we are now looking at a more attractive 12% annual return IF we can hit Mr. Acampora's stock target (actually, 14% if we use the specific 22,000 DJIA level he foresees). It remains to be seen if that can happen.

The book itself is easily readable for anybody who is not fluent in stock market terminology. Acampora is at his best when he talks about past mega-bull markets and discusses the key individuals, stocks, and sectors that made up those eras. His discussions of the bull markets of the 1920's and 1960's are very informative and give you a flavor for the similarities and differences to today.

Focusing on certain stocks at certain times -- railroads, steel and oil in the late 1800's; RCA in the 1920's; IBM and LTV and Xerox in the 1960's -- Acampora gives you a good overview of the characters of previous bull markets. By focusing on the length and extent of previous bull markets, as well as what type of sectors outperformed and by how much, Acampora is able to come up with similar projections for today. Of course, the fact that technology and related sectors had already made percentage gains similar to or exceeding previous sectors that led earlier bull markets might account for the fact that the book was published more or less at the top of the 2000 bull market.

Acampora defines a mega-market as one which lasts at least 8 and up to 17 years, with a move of 300-500%. Since he used 1994 as his starting point, it's understandable why he thought the overall stock market and DJIA had both some point upside as well as time left when the book was published. I would note, however, that as a long-term cycle observer Acampora must certainly be aware that there have been past periods -- approximating 15-20 years (1929-1954, 1966-1982) -- when the stock market was essentially flat.

If the DJIA is destined to "burn off" excess valuations in sympathy with the U.S. correcting domestic imbalances, then it's quite possible that we are one-third of the way through a period where the major indices make little progress, even though some sectors prosper. Needless to say, most investors don't want to think that the market might have another 10 years of treading water before we can see the kinds of moves we saw in the 1980's and 1990's.

I think the best thing about Acampora's book is that it will give you a sense of how long market moves can last and how much money you can make in a REASONABLE amount of time. Anybody who makes 3,200% in the S&P Computer sector during the 1949-66 bull market, or who makes 1,800% in Technology stocks during the 1994-2000 run, doesn't want to lose it all or a good portion of the gains in the ensuing bear market. Investors have to understand that they need to "take some off the table" and reduce exposure.

In the parlance of Wall Street, "Bulls make money, Bears make money, but Pigs get slaughtered." If nothing else, Acampora's book will enable you to make some money as a bull or a bear, and avoid becoming a broken piggy.

The Fourth Mega-Market, Now Through 2011.......2001-02-13

Do not waste your time reading Ralph J. Acampora's book. It is another way Mr. Acampora is trying to make money is today's world. When will he have enough?

Cases and Materials on Gratuitous Transfers (American Casebook)

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Cases and Materials on Gratuitous Transfers (American Casebook)
Elias Clark , Louis Lusky , Arthur W. Murphy , Mark L. Ascher , and Grayson M. P. McCouch
Manufacturer: Thomson West
ProductGroup: Book
Binding: Hardcover

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Understanding Insurance Law (The Understanding series)

ASIN: 031416040X

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The new edition of Gratuitous Transfers incorporates new developments in judicial decisions and statutory law since 1999, including the Massachusetts Supreme Judicial Court's decision in Woodward v. Commissioner (status of posthumously-conceived children under intestacy law), the Montana Supreme Court's decision in In re Estate of Kuralt (holographic wills), and the U.S. Supreme Court's decision in Marshall v. Marshall (scope of theprobate exception to federal jurisdiction). The text also includes extensive references to the Restatement (Third) of Trusts and the Uniform Trust Code. The chapter on estate and gift taxation has been updated to reflect significant statutory changes, including the Economic Growth and Tax Relief Reconciliation Act of 2001. The organization and general approach, however, remain essentially unchanged from previous editions.

Cases and Materials on Gratuitous Transfers : Wills, Intestate Succession, Trusts, Gifts, Future Interests and Estate and Gift Taxation (Amer casebook (4th ed) (American Casebook Series)

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Cases and Materials on Gratuitous Transfers : Wills, Intestate Succession, Trusts, Gifts, Future Interests and Estate and Gift Taxation (Amer casebook (4th ed) (American Casebook Series)
Elias Clark , Louis Lusky , Arthur W. Murphy , Mark L. Ascher , and Grayson M. P. McCouch
Manufacturer: West Publishing Company, College & School Div
ProductGroup: Book
Binding: Hardcover

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ASIN: 0314211128

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Thoroughly revised and updated to reflect evolving case law and recent developments in the Restatement (Third) of Trusts and revisions to the Uniform Probate Code and other uniform laws. Furnishes ample material for a basic survey course on wills, trusts and decedents' estates, and for more advanced courses in the field. Includes surviving spouse's elective share and waiver of marital property rights; recent cases on the creation of trusts, exceptions to spendthrift protection, and remedies for breach of the fiduciary duty of loyalty; fiduciary investments and the prudent investor rule; and the Uniform Statutory Rule Against Perpetuities.

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Commodities regulation
Very enlightening!

Commodities Regulation
Philip McBride Johnson , and Thomas Lee Hazen
Manufacturer: Aspen Law & Business Publishers
ProductGroup: Book
Binding: Ring-bound

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ASIN: 1567066283

Book Description

This new third edition of a classic in the commodities field has been brought completely up to date to reflect the emergence of derivatives as an increasingly popular financial tool, along with the widespread use of derivatives (futures, options, swaps and a wide variety of exotic and hybrid financial products) as hedges against financial risk.

Covering the regulatory, reporting and legal issues that affect these unique instruments, Commodities Regulation clearly explains:

* The latest legal rules applicable to derivatives trading
* Registration, reporting and disclosure requirements for derivatives professionals
* Criteria for publicly traded futures and commodity options
* The rules governing unprofessional conduct
* Customer protection, the CFTC's reparations program, arbitration programs and private rights of action in the courts A comprehensive, easy-to-use reference in this complex field, Commodities

Regulation gives you the answers you need on everything from the contract markets to exemptions and exclusions, from ethical and disclosure requirements to market manipulation and more. It presents practical insights into the current thinking of the CFTC by examining no-action and interpretive letters, and in many cases, it is the only authority available on the topics addressed.

Customer Reviews:

Commodities regulation.......2004-07-06

The Third Edition of a classic in the commodities field has been brought completely up to date to reflect the emergence of derivatives as an increasingly popular financial tool, along with the widespread use of derivatives (futures, options, swaps and a wide variety of exotic and hybrid financial products) as hedges against financial risk. Covering the regulatory, reporting and legal issues that affect these unique instruments, COMMODITIES REGULATION clearly explains:

The latest legal rules applicable to derivatives trading
Registration, reporting and disclosure requirements for derivatives professionals
Criteria for publicly traded futures and commodity options
The rules governing unprofessional conduct
Customer protection
The CFTC's reparations program
Arbitration programs
Private rights of action in the courts
A comprehensive, easy-to-use reference in this complex field, Commodities Regulation gives you the answers you need on everything from the contract markets to exemptions and exclusions, from ethical and disclosure requirements to market manipulation and more. It presents practical insights into the current thinking of the CFTC by examining no-action and interpretive letters, and in many cases, it is the only authority available on the topics addressed.

Very enlightening!.......2000-06-18

If you are a trader or speculator and want to enhance your awareness and bring yourself up to a better level of understanding, this is a must! For anyone in the related commodities field, add this to your collection!

Death, taxes and the independent sector: Reflections on the past and future growth of private charities and foundations

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Death, taxes and the independent sector: Reflections on the past and future growth of private charities and foundations
Alan Reynolds
Manufacturer: Philanthropy Roundtable
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Binding: Unknown Binding

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ASIN: B0006RBZNI

Democratic tax increases imperil state's economic future. (Viewpoint).(Brief Article): An article from: Fairfield County Business Journal

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Democratic tax increases imperil state's economic future. (Viewpoint).(Brief Article): An article from: Fairfield County Business Journal
Lile R. Gibbons
Manufacturer: Westfair Communications, Inc.
ProductGroup: Book
Binding: Digital

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This digital document is an article from Fairfield County Business Journal, published by Westfair Communications, Inc. on April 1, 2002. The length of the article is 711 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: Democratic tax increases imperil state's economic future. (Viewpoint).(Brief Article)
Author: Lile R. Gibbons
Publication: Fairfield County Business Journal (Magazine/Journal)
Date: April 1, 2002
Publisher: Westfair Communications, Inc.
Volume: 41 Issue: 13 Page: 38(1)

Article Type: Brief Article

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The department of the Treasury moves into the workplace of the future: case study of the Virtual Resource Solution (VRS) launched by the Treasury inspector ... An article from: The Public Manager

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The department of the Treasury moves into the workplace of the future: case study of the Virtual Resource Solution (VRS) launched by the Treasury inspector ... An article from: The Public Manager
Agapi Doulaveris
Manufacturer: Bureaucrat, Inc.
ProductGroup: Book
Binding: Digital

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This digital document is an article from The Public Manager, published by Bureaucrat, Inc. on June 22, 2002. The length of the article is 1284 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: The department of the Treasury moves into the workplace of the future: case study of the Virtual Resource Solution (VRS) launched by the Treasury inspector general for tax administration in November 2000. (The Evolving Workplace).(Statistical Data Included)
Author: Agapi Doulaveris
Publication: The Public Manager (Refereed)
Date: June 22, 2002
Publisher: Bureaucrat, Inc.
Volume: 31 Issue: 2 Page: 37(2)

Article Type: Statistical Data Included

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Derivatives Regulation
Philip McBride Johnson , and Thomas Lee Hazen
Manufacturer: Aspen Publishers
ProductGroup: Book
Binding: Hardcover

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