Individually Managed Accounts: An Investor's Guide

Book Description

The first investor-friendly book on IMAs
By 2010 nearly five million households will invest more than $2.6 trillion in individually managed accounts (IMAs). Today nearly $470 billion is invested in IMAs, yet not one book has clearly addressed the topic-until now. Individually Managed Accounts: An Investor's Guide shows investors what IMAs are, how to use them, and the related pros and cons of investing in them compared to other investment alternatives.
Robert Jorgensen, CIMA (San Diego, CA), is the founder and CEO of RunMoney. He also founded Lockwood Pacific Investment Group and held senior positions at E. F. Hutton and Salomon Smith Barney. He is a regular speaker at numerous financial forums.

Customer Reviews:

Separately Managed Accounts are the Wave of the Future!.......2006-02-02

Mr. Jorgensen has written a relatively easy-to-follow book regarding the Separately Managed Account (SMA) segment of the financial services industry.

The best point about the book is it's consistent message that SMA's are now readily available and accessible to the "smaller" investor. With technology, institutional-level money managers can now provide their services to investors who do not qualify for, what was in the recent past, an average of a $1 Million minimum account size.

Where the book fails is in its lack of clarity regarding "active" vs. "passive" management vs. "do-it-yourself" management. There are certainly many academic studies that indicate that "passive" (i.e., index funds) investing consistently beats "active" management. However, all of those studies compare actively managed mutual funds vs. passive (indexed) mutual funds (or, more often than not, to the indexes themselves which an investor CANNOT directly invest in)...they do NOT compare the results of separately managed accounts that are actively managed by institutional-level money managers for individuals.

This is the crux of the issue: an investor who has a Separately Managed Account is NOT participating in the Mutual Fund investment world, thereby eliminating many, if not all, of the problems and reasons outlined in the book that cause "active" managers (of Mutual Funds) to underperform the "passive" indexes.

Additionally, the era of "buy and hold" has come and gone. So, sure, an investor (a "do it yourselfer" or someone using a stock broker to help them pick stocks) can reduce their trading costs by buying a portfolio of individual stocks and sitting on them. Who, as an individual investor, wants to be stuck with the Enron's, the WorldCom/MCI's, the Global Crossing's, the Tyco's, etc. of tomorrow? The average individual investor typically does not have the resources and/or the time to do the in-depth research on each of the individual positions that they would need to hold in an account in order to achieve the required asset allocation needed to minimize risk. And, the average stock broker did not get their clients out of those stocks before they tanked.

The world has changed, and the SMA is the answer.

Watch out!.......2004-10-05

Separate accounts are the darling of the investment industry. They are targeted at wealthy investors, and they charge significantly higher fees than mutual funds. Moreover, because the fees are billed as a percentage of assets they generate consistent income for money managers and brokers, in contrast to brokerage commissions which decline when investors stop trading in down markets. In other words: separate accounts are big earners for Wall Street.

This book, like others by authors including Freeman, advocates separate accounts, and in so doing runs counter to two widely accepted findings of academic finance: (1) active management fails to beat the market indexes, and (2) keeping costs (ie. fees) down has a dramatic impact on long term investment returns.

If you're going to read this book, make sure you read the myriad of arguments on the other side of the debate. (The debate is actually rather lopsided.) You can find material in book form or for free online. For the former, try works by John Bogle on mutual funds, William Bernstein on asset allocation and indexing, and Chandan Sengupta for a basic outline of the arguments for indexing. For the latter, try the material at ABetterWayToInvest which has a chapter on separately managed accounts.

I'll never invest in a mutual fund again...........2004-03-04

Clear and concise. Managed accounts used to be for the wealthy. Things have changed though...investors can get into a separate account for $25,000 or less. The Jury is in... there is no doubt that many money managers beat the indexs (the good ones). These guys are professional money managers NOT MARKETERS who sell for commissions. Consequently, this allows them to focus on what's important, managing assets. Further, after one calculates the true costs (including transaction costs) mutual funds are slightly more expensive than the average separate account manager. The problem with mutual funds is that they typically are required to invest a minimum of 75% of the investors assets at ALL TIMES! Remember 9-11? Who wants to be in full-on in the market then?! Separate account managers were able to flee the equities markets because they aren't bound by the "diversification" restrictions that mutual funds are. Stuff to think about....

Book Description

This book is unique in providing the first full English translation of Menger's seminal article `Geld' - one of the most influential papers on the origin of money. The editors facilitate a broader and more detailed discussion of Menger's method, theory and findings with this translation and in depth analysis.

Menger's institutional approach is applied and extended to the analysis of the evolution of payments systems, focusing in particular on electronic money, on its institutional character, and on monetary policy as well as predictions of likely future developments.

Carl Menger and the Evolution of Payments Systems will be of great interest to financial economists and Austrian economists as well as historians of economic thought.

Book Description

The 2003 Cumulative Supplement (ISBN: 0-471-25012-0) includes new information on:

IRS Information letters
Electronic filing of Form 990
IRS private letter rulings and technical advice memorandums
Guidance on Internet activities
Intermediate sanctions
1023/1024 forms

The supplement updates the core volume, Blazek/Tax Planning and Compliance for Tax-Exempt Organizations, Third Edition (ISBN: 0-471-29380-6).

Tax Planning and Compliance for Tax-Exempt Organizations: Forms, Checklists, Procedures : 1997 Cumulative Supplement (Tax Planning and Compliance for Tax Exempt Organizations)

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Good taxation tool

Tax Planning and Compliance for Tax-Exempt Organizations: Forms, Checklists, Procedures : 1997 Cumulative Supplement (Tax Planning and Compliance for Tax Exempt Organizations)
Jody Blazek
Manufacturer: John Wiley & Sons Inc
ProductGroup: Book
Binding: Paperback

General | Popular Economics | Business & Investing | Subjects | Books

General | Business & Investing | Subjects | Books

Nonprofit Organizations & Charities | Industries & Professions | Business & Investing | Subjects | Books

General | Taxation | Law | Subjects | Books
ASIN: 0471166219

Book Description

This classic contains clear-cut answers to all procedural and tax process questions. There is straightforward information on changing UBI rules, joint ventures, sponsorships, deductions against UBI, preparation of IRS forms, and more. Includes checklists and complete citations.

This book is supplemented annually.

Customer Reviews:

Good taxation tool.......2002-01-31

This book is an excellent tool to know more about the tax procedure in the USA, specially for non-profit organizations.

Tax Planning and Compliance for Tax-Exempt Organizations: Forms, Checklists, Procedures, 2001 Cumulative Supplement (Wiley Nonprofit Law, Finance and Management Series)

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Tax Planning and Compliance for Tax-Exempt Organizations: Forms, Checklists, Procedures, 2001 Cumulative Supplement (Wiley Nonprofit Law, Finance and Management Series)
Jody Blazek
Manufacturer: John Wiley & Sons Inc
ProductGroup: Book
Binding: Paperback

General | Popular Economics | Business & Investing | Subjects | Books

General | Business & Investing | Subjects | Books

Nonprofit Organizations & Charities | Industries & Professions | Business & Investing | Subjects | Books

General | Taxation | Law | Subjects | Books
ASIN: 0471390356

Tax Planning and Compliance for Tax-Exempt Organizations: Forms, Checklists, Procedures, Third Edition, 2003 Cumulative Supplement

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Tax Planning and Compliance for Tax-Exempt Organizations: Forms, Checklists, Procedures, Third Edition, 2003 Cumulative Supplement
Jody Blazek
Manufacturer: John Wiley & Sons Inc
ProductGroup: Book
Binding: Paperback

General | Popular Economics | Business & Investing | Subjects | Books

General | Taxation | Law | Subjects | Books

General | Reference | Subjects | Books
ASIN: 0471361380

Book Description

This update of a classic contains clear-cut answers to all procedural and tax process questions. There is straightforward information on changing UBI rules, joint ventures, sponsorships, deductions against UBI, preparation of IRS forms, and more. Includes checklists and complete citations.

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Geography of Agriculture: Themes in Research {Foundations of Economic Geography Series}
Howard F. Gregor
Manufacturer: Prentice Hall
ProductGroup: Book
Binding: Paperback
ASIN: B000OIAKLW

Book Description

Excellent teaching and resource material . . . it is concise, coherently structured, and easy to read . . . highly recommended for students, engineers, and researchers in all related fields."
-Corrosion on the First Edition of Fundamentals of Electrochemical Deposition

From computer hardware to automobiles, medical diagnostics to aerospace, electrochemical deposition plays a crucial role in an array of key industries. Fundamentals of Electrochemical Deposition, Second Edition is a comprehensive introduction to one of today's most exciting and rapidly evolving fields of practical knowledge.

The most authoritative introduction to the field so far, the book presents detailed coverage of the full range of electrochemical deposition processes and technologies, including:
* Metal-solution interphase
* Charge transfer across an interphase
* Formation of an equilibrium electrode potential
* Nucleation and growth of thin films
* Kinetics and mechanisms of electrodeposition
* Electroless deposition
* In situ characterization of deposition processes
* Structure and properties of deposits
* Multilayered and composite thin films
* Interdiffusion in thin film
* Applications in the semiconductor industry and the field of medicine

This new edition updates the prior edition to address the new developments in the science and its applications, with new chapters on innovative applications of electrochemical deposition in semiconductor technology, magnetism and microelectronics, and medical instrumentation. Added coverage includes such topics as binding energy, nanoclusters, atomic force, and scanning tunneling microscopy.Example problems at the end of chapters and other features clarify and improve understanding of the material.

Written by an author team with extensive experience in both industry and academe, this reference and text provides a well-rounded introduction to the field for students, as well as a means for professional chemists, engineers, and technicians to expand and sharpen their skills in using the technology.

Customer Reviews:

Electrochemical Deposition.......2001-05-26

This book being the first of its kind in the industry on electrochemical deposition is very informative and interesting. Copper damanscene being the future for CMP has somwhat made this book a neccessity to all personnel working in the micro electronics industry.

The book gives a good grounding on electrochemical deposition and the underlying parameters that affect deposition.

The only setback is that there is no effort being made to link the findings in the deposition of copper and how it affects the final CMP process.

Being a new and first of its kind this is forgivable.

Excellent.......2001-05-26

The book covers the major features of all kinds of electrochemical deposition and it is a handy book for all those involved in this kind of depostion studies..

Fundamental Aspects of Electrochemical Deposition & Dissolution Including Modeling (Proceedings)

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Fundamental Aspects of Electrochemical Deposition & Dissolution Including Modeling (Proceedings)

Manufacturer: Electrochemical Society
ProductGroup: Book
Binding: Hardcover

General | Science | Subjects | Books
ASIN: 1566771803

Product Description

Marty Durwinkel, the world's most nondescript gigolo, has a conundrum. He was such as good escort to mobster Frank Vincenzo's sultry daughter, Regina, that now Frank wants Marty to marry her. Along with the deal comes a high mafia post, an ever-bearing, weather-resistant tomato plant--and most of Montana.

But there are a few problems: Marty doesn't want a wife, and neither does his tomato-breeder girlfriend, Elizabeth. Even the Vice President of the United States has an opinion, after she walked all over Marty's chest in stilettos. But most of all, as the greatest slacker of all time, Marty just doesn't want to run anything, let alone a powerful crime empire.

Throw in a castle with a butler named Groats and you have a Wodehouseian world complete with a protagonist worthy of Knighthood. Or at least worthy of a good ménage-a-trois and a chewing gum factory in Jersey.

Customer Reviews:

Responsibility .......2007-01-21

At first glance, John Hennessy provides an excellent account of the Second Bull Run campaign. He draws on copious primary and secondary sources and crafts a very readable narrative, often clarifying what can be a very confusing campaign to follow. While not absolving the Lincoln administration, Henry Halleck and George McClellan for the Union fiasco, Hennessy believes the chief responsibility for the failed campaign rests on John Pope.

But there is one huge problem here. Hennessy ignores almost everything John Pope wrote about the campaign. This is very odd. Hennessy looked at an impressive number of primary sources. He looked at a number of articles from the "National Tribune." Oddly enough he never looked at any of Pope's articles from the Tribune. While Pope often refered to the OR, he did offer some insight on his motives and decisions. This undermines a great deal of Hennessy's book. For example, Pope wrote a great deal about Banks attacking Jackson at Cedar Mountain and what the exact orders were. Hennessy blithely ignores this and much other material.

Since Hennessy goes out of his way to trash Pope, this is a major factor in evaluating the book. Pope may well have been a scoundrel full of bravado. He may well have been an incompetent commander. But Pope, like all other commanders, deserves to have his say. The fact that Hennessy feels compelled to ignore Pope's records is disturbing to say the least.
Can you write an account of the Overland campaign without consulting the assorted writings and musings of Grant or Lee? Of course not and the fact that Hennessy chose to ignore the writings of the chief Union commander of the Second Manassas campaign is appalling and frankly undermines the credability of the book.

Worthy Effort of a Great Campaign.......2006-12-30

Rarely in the past few years has a campaign study been published that has been as good as John Hennessy's "Return to Bull Run: The Campaign and Battle of Second Manassas." Expertly researched and well written the author knows his subject, and draws the reader in with the first page. This was one of the most interesting campaigns in the eastern theater. High drama prevailed from the very start. Jackson's performance is well documented and Hennessy does a very good job of describing his effort and those of his men as they marched around Pope's flank. Freeman's Ford, the attack on Mannassas Junction, Brawner's Farm, the railroad cut, the annihilation of the 5th New York, it's all here and extemely well done. A very fine book in every way.

Excellent Book.......2006-08-08

I was impressed by this book's flowing description. One time I sat down to read a bit, and next thing I knew, three hours had passed!
I would highly reccomend this to anyone interested in the Second Manassas campaign.
On a downside, the maps, though common, are hard to read in places, and it is hard to tell the woods from the open land....

Cant imagine a better rendition of this campaign.......2004-12-27

This is the quality of book that will make anyone wishing to write a book on this campaign/battle drop the idea.
Hennessy has blended the facts, personal accounts, maps, and analysis splendidly....one is never over served in any area.
Being detailed work, regimental positioning (something I enjoy)is here for the taking. The maps are of a quality that in conjunction with the regimental movement information, this book could serve as a guide for a battlefield visit. Having read this book after reading Kricks "Stonewall Jackson at Cedar Mountain", I am thankful that we can draw on the workmanship of such fine students of the WBTS.
This battle sets up the Antietam Campaign and this book should be read previous to that study. The North doesnt want to talk much about this battle, understandably, and perhaps this is why it hasnt received much attention. Lee makes his largest charge of the war (Longstreet on 8/30/62) which reveals the magnitude of this battle.

A must have for Civil War enthusiasts.......2004-10-25

There are a lot of books out that deal with specific Civil War battles but few can match Hennessy's Return to Bull Run for it's scholorship and fine writing.

Of Lee's battles in the early Civil War, Second Bull Run likely gets the least amount of attention. Sandwiched between the Peninsula Campaign and Antietam it is simply overlooked. Hennessy however in Return to Bull Run shows not only why the battle may be one of Lee's finest but also how the battle severely hurt Lee's campaign into Maryland.

One of the things I like about this book is Hennessy tackles some of the big myths surrounding the battle with solid research. He does a great job from going from the big picture with discussing the overall strategy down to the tactical with interesting stories of the experiences of individual soldiers.

Also Hennessy really impressed me with his writing skills. I wish every Civil War author had Hennessy's talent for keeping the narrative going without getting bogged down once they get into the battle itself. To often authors get so stuck in describing the Xs and Os of the regimental movements that they forget the men involved but Hennessy keeps the story flowing nicely all the way through.

This is a book that any Civil War buff will greatly enjoy reading and will be the definitive book on the battle for a long time to come.

Return to Bull Run The Campaign and Battle of Second Manassas

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Return to Bull Run The Campaign and Battle of Second Manassas
John J. Hennessey
Manufacturer: Simon and Schuster
ProductGroup: Book
Binding: Hardcover
ASIN: B000W3O8C6

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Return to Bull Run: The Campaign and Battle of Second Manassas-
John J. Hennessy-
Manufacturer: Simon & Schuster Publishing-
ProductGroup: Book
Binding: Hardcover
ASIN: B000OMHYQM

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Return to Bull Run: The Campaign and Battle of Second Manassas.
John J. Hennessy
Manufacturer: Simon & Schuster c
ProductGroup: Book
Binding: Hardcover
ASIN: B000KIRCNK

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Return to Bull Run: The Campaign and Battle of Second Manassas
John J Hennessy
Manufacturer: SIMON & SCHUSTER
ProductGroup: Book
Binding: Hardcover
ASIN: B000UCH40W

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RETURN TO BULL RUN: THE CAMPAIGN AND BATTLE OF SECOND MANASSAS
John J. Hennessy
Manufacturer: Simon & Schuster
ProductGroup: Book
Binding: Hardcover
ASIN: B000TDMWNQ

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RETURN TO BULL RUN: THE CAMPAIGN AND BATTLE OF SECOND MANASSAS.
John. Hennessy
Manufacturer: Simon & Schuster,
ProductGroup: Book
Binding: Hardcover
ASIN: B000O90Y3U

Book Description

The purpose of Evaluation and Decision Models: A Critical Perspective is to provide a critical thinking framework for all individuals utilizing decision and evaluation models, whether it be for research or applications. It is axiomatic that all evaluation and decision models suffer some limitations. There are situations where a decision model will not perform to expectations. This book argues that there is no best decision or evaluation model, but that decision-makers must understand the principles of formal evaluation and decision models and apply them critically. Hence, the book seeks to deepen our understanding of evaluation and decision models and encourage users of these models to think more analytically about them.
The authors work in six different European universities. Their backgrounds are varied: mathematics, economics, engineering, law, and geology, and they teach in engineering, business, mathematics, computer science, and psychology in their universities. As a group, the authors have particular expertise in a variety of decision models that include preference modelling, fuzzy logic, aggregation techniques, social choice theory, artificial intelligence, problem structuring, measurement theory, operations research, and multiple criteria decision support. In addition to their decision analysis research, all the authors have been involved in a variety of high-impact applications which include software evaluation, location of a nuclear repository, the rehabilitation of a sewer network, and the location of high-voltage lines. It is this variety within the authorship that unifies this book into a systematic examination of how best formal decision models can be used. The monograph is an excellent tool for researchers of decision analysis and decision-makers.

Evaluating and Applying Decision Models: Vol. 1: Evaluation and Decision Models: A critical perspective; Vol. 2: Evaluation and Decision Models w. Multiple ... in Operations Research & Management Science)

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Evaluating and Applying Decision Models: Vol. 1: Evaluation and Decision Models: A critical perspective; Vol. 2: Evaluation and Decision Models w. Multiple ... in Operations Research & Management Science)

Manufacturer: Springer
ProductGroup: Book
Binding: Paperback

Econometrics | Economics | Business & Investing | Subjects | Books

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Operations Research | Management & Leadership | Business & Investing | Subjects | Books

General | Science | Subjects | Books
ASIN: 0387718885

Book Description

In the first volume of the set, Evaluation and Decision Models: A Critical Perspective, the purpose is to provide a critical thinking framework for all individuals utilizing decision and evaluation models, whether it be for research or applications. In the book, the authors criticized formal models while pointing out where these models can be useful. On the other hand, Evaluation and Decision Models with Multiple Criteria is a guide, a way of reasoning aimed at helping the analyst to choose a model and use it consistently. The authors propose, often using an axiomatic point of view, a sound analysis of techniques aimed at supporting the decision aiding process. The presentation is carried out within a unique framework that can be extended to most decision and evaluation models, as a "decision aiding methodology".

Book Description

This is an indispensable reference to one of the most spectacular stretches of California's coastline. Beginning in the north with Point Año Nuevo and ending some 120 miles to the south at Point Sur, Jerry Emory provides a comprehensive guide to the natural, cultural, and historical riches of the greater Monterey Bay shore.
Six regional maps provide detailed information for visitors exploring by car, bike, public transportation, or on foot. Highlights of the area include the elephant seals of Año Nuevo; surfing in Santa Cruz; the Monterey Bay National Marine Sanctuary, largest marine sanctuary in the U.S.; the world famous Monterey Bay Aquarium; and the breathtaking coastal mountains of Big Sur.
The coast offers beautiful beaches and dunes, excellent tidepooling and birding, glimpses of sea otters, monarch butterflies, and gray whales on their migrating paths, redwood forests and agricultural landscapes, vineyards, parklands, literary landmarks, and towns and cities to explore. Monterey Bay's human history is equally captivating and includes coastal Indians, Spanish missionaries, and Mexican rancheros.
Richly illustrated with 181 color photos, The Monterey Bay Shoreline Guide has helpful "Getting Around" sections providing public access directions and mileage and "Information" sections with useful phone numbers and website addresses.

Customer Reviews:

An essential guide to the Monterey area!.......2005-02-23

Only having less than a week to visit this beautiful, stunning area of CA, I found this book to be indispensable. It made a short trip a quality trip by the descriptions of everything in and around Monterey. I loved the photography as well! Although my trip was nearly 2 years ago, I still flip thru this book on occasion to dream about my next trip, and YES I'm going back! There is so much I that I missed due to my short stay, but thanks to this book I got to see my preffered highlights and I wouldn't change a thing.

Monterey is a very visually stunning area, my absolute favorite having visited in the US so far, and this book is a great way to ensure you see what you want to see.

PERFECT FOR EXPLORING MONTEREY BAY.......1999-12-23

I thought I knew the Monterey region fairly well until I was given this book as a present! It is packed with great "bites" of information: natural history, human history, and how to get to all the beaches and parks. The writing is easy to understand, friendly in a way, and even fun. The maps are very helpful, and the book even has resource sections with phone numbers, website urls, and directions. AND, the photographs are stunning. A great gift for visitors, home libraries, or the glove compartment of your car.

The definative guide of the Monterey.......1999-12-02

I received this book as a gift and was immediately taken by the depth and breadth of this book. If you are traveling from Ano Nuevo to Monterey get this book! The author and photograper bring this spectacular shoreline alive with great descriptive copy and super photos(you've got to see page 136). Hidden beaches and other great spots that I would never have known existed. Great information about how to get there, what to do and how it got there. Get the family together, pack a lunch and bring this book. Guaranteed great day!

A reader from Davenport, California.......1999-11-30

I have lived in Santa Cruz County for 15 years and thought I knew the Monterey Bay coastal zone very well--that is, until I read Jerry Emory's Monterey Bay Shoreline Guide. This Guide is the best--it covers both familiar territory and less well-known aspects of the Monterey Bay and its coastal towns. I've found myself consulting it whenever I make any kind of shoreline jaunt, from discovering where one can walk one's dog on a beach in Carmel to locating the best on-shore whalewatching sites. The photos are beautiful as well as informative. The organization of the book, which includes sidebar articles on specific topics, lends itself to easy access for both the casual and serious reader.

A reader from Davenport, California.......1999-11-30

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The Monterey Bay Shoreline Guide -
Jerry Emory -
Manufacturer: University Of California Press -
ProductGroup: Book
Binding: Paperback
ASIN: B000PS4C1K

THE MONTEREY BAY SHORELINE GUIDE.(Review) (book review): An article from: The Geographical Review

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THE MONTEREY BAY SHORELINE GUIDE.(Review) (book review): An article from: The Geographical Review
Thomas Eley
Manufacturer: American Geographical Society
ProductGroup: Book
Binding: Digital
ASIN: B0008JBV10
Release Date: 2005-07-28

Book Description

This digital document is an article from The Geographical Review, published by American Geographical Society on July 1, 2000. The length of the article is 831 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 MONTEREY BAY SHORELINE GUIDE.(Review) (book review)
Author: Thomas Eley
Publication: The Geographical Review (Refereed)
Date: July 1, 2000
Publisher: American Geographical Society
Volume: 90 Issue: 3 Page: 459

Article Type: Book Review

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