Kamis, 24 Januari 2013

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Solar Energy: Principles of Thermal Collection and Storage, 3e, by S. P. Sukhatme

"The revision of this text hallmark text on Solar Energy has been done keeping in mind the current scenario in Solar Energy requirements. As a result the book is updated with the energy scenario and the various applications of solar energy being used today. Numerous new topics comparison tables solved and unsolved problems, have been added and changes have been made to cater to the changing requirements of the students. In all it is the most updated and comprehensive yet concise book on the subject. "

  • Sales Rank: #294711 in Books
  • Published on: 2009-01-13
  • Dimensions: 9.00" h x 1.06" w x 6.00" l,
  • Binding: Paperback
  • 468 pages

About the Author
S P Sukhatme is Professor Emeritus, Department of Mechanical Engineering at the Indian Institute of Technology in Mumbai. He has been a faculty member at the Institute since 1965 and has served as the Director from 1995 to 2000. He also served as the Chairman of the Atomic Energy Regulatory Board from 2000 to 2005. Professor Sukhatme is known for his contributions to teaching and research in the fields of heat transfer and energy, and has been the recipient of many honours. He was awarded the Padma Shri by the Government of Indian in 2001. J K Nayak is Professor in the Department of Energy, Sciences and Engineering at the Indian Institute of Technology in Mumbai. He has been a faculty member at the Institute since 1982. Prior to that he received, his PH.D. from IIT Delhi and served as a project staff in the Centre of Energy Studies there. Professor Nayak is known for hi research contributions in thermal applications of solar energy. He is the author of the Handbook on Energy Conscious Buildings dealing with passive solar principles in building design.

Most helpful customer reviews

1 of 2 people found the following review helpful.
Useful and not difficult
By bicycle
I bought it to improve my knowledge on Solar applications.
I did not know that the book ws written by Indian but after reading it I could understand the Solar applications are popular there.
It is written easily to read and the contents are very helpful for the reader to overview many kinds of applications.

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Senin, 21 Januari 2013

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  • Published on: 1990
  • Binding: Paperback

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Rabu, 16 Januari 2013

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The Complete Malaysian Cookbook, by Betty Saw

Rasa Malaysia takes you on a voyage through Malaysia s culinary heritage where every state s best recipes are showcased. From Johor Laksa to Penang Acar, this book contains kitchen-tested recipes sourced from home kitchens to the royal kitchens.



This edition is a total revamp of the 1982 original, revised for the modern home kitchen. The recipes are detailed in an easy-to-follow format with cooking tips peppered throughout. Recipes that were previously oral legacies are categorised by state in the book.



A state-by-state culinary tour...to be better acquainted with Malaysian food, Rasa Malaysia gets you there. You gain culinary wisdom of the potpourri of local fare and best of all, cook up flavours of Malaysia. - The Star, Malaysia.

  • Sales Rank: #3354303 in Books
  • Published on: 2009-04-30
  • Original language: English
  • Dimensions: 9.45" h x .67" w x 8.66" l, 1.75 pounds
  • Binding: Paperback
  • 256 pages

About the Author
Veteran chef Betty Saw is one of Malaysia's favourite food writers and the author of the immensely popular newspaper food column, From Betty Saw's Kitchen. With over 30 years of experience, she shares her knowledge and practical cooking tips on various television cooking programmes and in several cookbooks, including Everything Bean Curd!, Cookies Galore, The Best of Chinese Cooking, Betty Saw's Kitchen Secrets, More Kitchen Secrets from Betty Saw, Even More Kitchen Secrets from Betty Saw, Rasa Malaysia, Asian Delights, Asian High Tea Favourites and Time for Dessert.

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4 of 4 people found the following review helpful.
Authentic & real, a good buy for sure!
By SKYeoh
"Rasa Malaysia" means to taste Malaysia.

A small country of 329,847 sq.kilometres (127,350 sq.miles), smaller then most US states, bordering Thailand, Indonesia and Brunei, we have a cuisine is as diverse as our people (Malay, Chinese, Indian, Iban, Kadazan, Eurasian & still more). Maybe the birth-place of fusion, not this newfangled fusion craze but a fusion evolved when different cultures and people live together for hundreds of years; nothing experimental - it is mature, full of depth, complexity and harmony.

Visitors swoon over our sambal (chilli based sauce), satay (meat on skewers), beef rendang (cooked slow & long in coconut cream, till tender & fragrant) without realising these dishes are prepared differently in different parts of Malaysia.

As celebration of diversity, Rasa Malaysia lays out recipes according to the states they come from. A good selection of traditional Malaysian dishes influenced by the aromatics of Indonesia, the stir-fries of China, spices of India, with sweet & sour from Thailand and the lingering tastes of England, Holland and Portugal - what a melting pot.

Betty Saw is as Malaysian as her book. A chef who knows her food, her country and her people; a prolific food historian, she encourages, records and preserves Malaysian food tradition.

With such background, the recipes are themselves authentic and real. Cook these recipes and you will taste Malaysia. For foreign friends who know Malaysia, it will take you back, for sure.

With beautiful photographs, direct & simple instructions, this book is for everyone.

Asian groceries abound, correct ingredients are no longer as difficult to source. My only suggestion would be - whenever coconut cream is called for (where canned coconut milk might suffice); do try your very best to find or squeeze your own from freshly grated coconut, for a slice of heaven.

Criticism? Only one, I wish Betty Saw had shared more of her thoughts on the wonderful recipes she's collected in her book.

0 of 0 people found the following review helpful.
Five Stars
By denise adams
Very nice cook book,

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Selasa, 15 Januari 2013

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Human Anatomy, Media Update, Sixth Edition builds upon the clear and concise explanations of the best-selling Fifth Edition with a dramatically improved art and photo program, clearer explanations and readability, and more integrated clinical coverage. Recognized for helping students establish the framework needed for understanding how anatomical structure relates to function, the text’s engaging descriptions now benefit from a brand-new art program that features vibrant, saturated colors as well as new side-by-side cadaver photos. New Focus figures have been added to help students grasp the most difficult topics in anatomy. This is the standalone book. 

 

If you want the package order this ISBN: 

0321753267 / 9780321753267 Human Anatomy with MasteringA&P™, Media Update

Package consists of:   

0321753275 / 9780321753274 Human Anatomy, Media Update

0321754182 / 9780321754189 Practice Anatomy Lab 3.

0321765079 / 9780321765079 MasteringA&P" with Pearson eText Student Access Code Card for Human Anatomy, Media Update

0321765648 / 9780321765642 Wrap Card for Human Anatomy with Practice Anatomy Lab 3.0, Media Update

080537373X / 9780805373738 Brief Atlas of the Human Body, A

 

  • Sales Rank: #96500 in Books
  • Published on: 2011-07-10
  • Format: Abridged
  • Original language: English
  • Number of items: 1
  • Dimensions: 11.00" h x 1.30" w x 9.20" l, 4.40 pounds
  • Binding: Hardcover
  • 880 pages

About the Author

Elaine Marieb began her teaching career at Springfield College, where she taught anatomy and physiology to physical education majors. She then joined the faculty of the Biological Science Division of Holyoke Community College after receiving her Ph.D. in zoology from the University of Massachusetts at Amherst.

 

While teaching at Holyoke Community College, where many of her students were pursuing nursing degrees, she developed a desire to better understand the relationship between the scientific study of the human body and the clinical aspects of the nursing practice. To that end, while continuing to teach full time, Dr. Marieb pursued her nursing education, which culminated in a Master of Science degree with a clinical specialization in gerontology from the University of Massachusetts. It is this experience, along with stories from the field–including those of former students now in health careers–that has informed the development of the unique perspective and the accessibility for which her texts and laboratory manuals are known.

 

In her ongoing commitment to students and her realization of the challenges they face, Dr. Marieb has given generously to provide opportunities for students to further their education. She contributes to the New Directions, New Careers Program at Holyoke Community College by providing several full-tuition scholarships each year for women returning to college after a hiatus or who are attending college for the first time and would otherwise be unable to continue with their studies without financial support. She funds the E. N. Marieb Science Research Awards at Mount Holyoke College, which promotes research by undergraduate science majors, and generously contributed to the University of Massachusetts at Amherst where she provided funding for reconstruction and instrumentation of a cutting-edge cytology research laboratory that bears her name.

 

In 1994, Dr. Marieb received the Benefactor Award from the National Council for Resource Development, American Association of Community Colleges, which recognizes her ongoing sponsorship of student scholarships, faculty teaching awards, and other academic contributions to Holyoke Community College. In May 2000, the science building at Holyoke Community College was named in her honor.

 

Additionally, while actively engaged as an author, Dr. Marieb serves as a consultant for the Benjamin Cummings Interactive Physiology® CD-ROM series, and is an active member of the Human Anatomy and Physiology Society (HAPS), the American Association for the Advancement of Science (AAAS), and Sigma Xi.

 

Patricia Brady Wilhelm received her Ph.D. in Biological and Medical Sciences from Brown University and is currently Professor of Biology at the Community College of Rhode Island. She has been teaching anatomy to undergraduates for more than 12 years at Brown University, Rhode Island College, and the community College of Rhode Island. In 1991 she received the Presidential Award for Excellence in Graduate Teaching from Brown University.

 

Continuing to strive for excellence in teaching and learning, Dr. Wilhelm has been a leader at the Community College of Rhode Island in the uses of technology for teaching through the development of web-based course tools, on-line dissection videos, on-line student assessment tools, and cooperative learning strategies for the classroom. The driving factor behind these innovations is the desire to aid student learning by making course materials accessible and to make the study of anatomy an active and interactive process. She has also served as a consultant in training faculty from all three public institutions in Rhode Island (University of Rhode Island, Rhode Island College, and the Community College of Rhode Island) in the uses of technology in teaching, and continues to work on the development and use of multimedia tools for anatomy instruction.

 

In addition to teaching, Dr. Wilhelm has contributed to numerous anatomy and physiology publications. Dr. Wilhelm’s research interests are: vertebrate functional morphology, biomehanics, and anatomy education. She is a member of Sigma Xi, the Human Anatomy and Physiology Society (HAPS), and the American Association of Anatomists.

 

Jon Mallatt earned his Ph.D. in Anatomy from the University of Chicago. Dr. Mallatt is currently an Associate Professor of Biological Sciences at Washington State University, where he has been teaching human anatomy to undergraduates of all backgrounds for 24 years. He is also a member of the department of Basic Medical Sciences, where he teaches courses in Histology and Anatomy of the Trunk in the WWAMI Medical Program. WWAMI honored him with their "Excellence in Teaching Award" in 1992, 1993, 1995, and 2000. Additionally Dr. Mallatt holds a position as adjunct Associate Professor in the department of Biological Structure at the University of Washington. His particular areas of expertise in the study of anatomy are histology, comparative anatomy, and anatomical drawing, although his research now focuses on the origin of vertebrate animals and molecular phylogeny. Dr. Mallatt is an accomplished researcher with 39 publications in the fields of anatomy and molecular phylogeny to his credit.


 

 

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28 of 28 people found the following review helpful.
One of my favorite school books (if that's possible)
By S. Richards
I can't tell you how sad I was when I found out that the City Colleges of Chicago decided to use Principles of Anatomy and Physiology by Tortora and Derrickson for the second course of Anatomy and Physiology instead of this book. This book does a great job of putting the subjects in an order that is good to follow, with a plethora of great photos and drawings, and puts a section called Homeostatic Imbalance right after a section and explains some problems that go wrong in the part of the human body. Most chapters even have a closer look section with a rather corny title that they think is funny with an article that is usually topical and relevant. Really go above and beyond in muscle and bone chapters (giving you both a detailed drawing and actual picture of almost everything). Also, wrote in a style that is easy to understand; goes from the basics to the details of a subject very smoothly. Even my girlfriend, who has no interest in a career in the medical world, has flipped through most of the book and asked questions or stated how awesome something is. I plan on keeping this book to reference to for a long time.

29 of 30 people found the following review helpful.
The Mercedes of Undergraduate A&P Books
By Groovy Vegan
I used this book as a student, and refer to it frequently as a reference. This 1000 + page text explains the structure and function of the complicated, detailed human body in a logical, easy to understand manner. Everything about this book is user friendly including the presentation order, the writing, and the graphics. In each chapter, Marieb presents the big picture before zeroing in on the details. For the body's systems, (digestive, endocrine, respiratory, etc.) Marieb overviews the system, and then explains the gross and fine anatomy and associated physiology.
Here are a few of the many features I find impressive: * Graphics: Very impressive photographs and illustrations. The electron micrographs are spectacular. * Tables and charts - These greatly simplify the learning of complex concepts. For example, in the immune system chapter, there's a good table explaining the first and second lines of defense. * Medical applications - Common diseases are overviewed in the appropriate chapter, for example epilepsy is discussed in the neural integration chapter. There are occasional basic pharmacology and sports applications, such as diuretics and blood doping, respectively. * Making connections feature - Marieb shows how the system being studied relates to the other systems in the body.
This is an absolutely state of the art A&P book, and each edition is better than the last. It's expensive, but you get a lot for your money. It may be too detailed for some, who would be better served by her "Essentials of Anatomy and Physiology" text. If you're an A&P student, I recommended you use her workbook as well. I've found that working through the exercises really helps this information stick.

19 of 19 people found the following review helpful.
Informative and highly understandable textbook
By A Customer
This book filled with great informative pictures and information that makes any college A and P student's life a lot easier. I used this book for anatomy and physiology class I and II. The book is easy to read and it is a powersource of knowledge. The book is not tedious nor boring to read. In fact, it is quite interesting and was a pleasure studying from. If you want to know the type of questions asked on college anatomy and physiology exams, get the following which is also on amazon:
Anatomy and Physiology Study Guide: Key Review Questions and Answers with Explanations
Volume 1 (ISBN: 0971999619)
Volume 2 (ISBN: 0971999627)
I used these three books and got an A-.

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Human Anatomy, Media Update (6th Edition), by Elaine N. Marieb, Patricia Brady Wilhelm, Jon B. Mallatt PDF
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Minggu, 13 Januari 2013

[N482.Ebook] Download Ebook Grammaire Anglaise par les exercices, by Collectif

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Grammaire Anglaise par les exercices, by Collectif

• plus de 200 exercices de difficulté graduée, accompagnés d'indices qui signalent les pièges les plus fréquents ;• des tableaux et des rappels de grammaire à la fin de chaque série d'exercices, pour vérifier et réviser les acquis ;• les corrigés de tous les exercices ;• des fiches complémentaires d'orthographe et de conjugaison ;• quatre grands tests pour faire le bilan des connaissances, classe par classe.

  • Published on: 2002-09-15
  • Original language: French
  • Dimensions: .43" h x 5.31" w x 8.27" l,
  • Binding: Paperback

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Rabu, 09 Januari 2013

[V405.Ebook] Download Ebook Log Construction Manual: The Ultimate Guide to Building Handcrafted Log Homes, by Robert Wood Chambers

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Log Construction Manual: The Ultimate Guide to Building Handcrafted Log Homes, by Robert Wood Chambers

The Log Construction Manual tells you what you need to know to build your own handcrafted log home shell. This is a comprehensive and thorough guide to how to scribe-fit logs to each other, cut notches, and build roof support systems of large, round, naturally-shaped logs.

The Log Construction Manual is packed with information that is available nowhere else — including the Log Selection Rules, Chambers' brilliant and simple method for choosing which log to use next; detailed instructions for building handcrafted log roof trusses; step-by-step directions for laying out sill logs for any design or floor plan; how to cut state-of-the-art compression-fit saddle notches; methods to keep notches and grooves tight over time; allowing for settling and shrinkage of log walls; scribing tips that pro's use; and much more.

  • Sales Rank: #175195 in Books
  • Brand: Brand: Deep Stream Press
  • Published on: 2002-10
  • Original language: English
  • Number of items: 1
  • Dimensions: .68" h x 8.56" w x 10.74" l,
  • Binding: Paperback
  • 272 pages
Features
  • Used Book in Good Condition

Review
"An indispensible guide for those who are going to build . . . by the leading log building instructor in North America." -- Log Home Living Magazine

"An indispensible guide for those who are going to build . . . by perhaps the leading log building instructor in North America." -- Log Home Living Magazine

"Fantastic ! Chambers casts light into some of the darkest corners of log building. Buy it. Read it." Bill Olsen -- Log Building News

"Fantastic! In one book Chambers casts light into some of the darkest corners of log building. Buy it. Read it." -- Log Building News

From the Publisher
The Log Construction Manual has been the best-selling log-home how-to book since it was first published in 2002. This 2006 edition has a section of color photos, and updated black and white photos throughout. Hundreds of photos and drawings compliment the clear and easy-to-read information that Chambers provides to beginners and experienced log builders.

From the Author
I have written the Log Construction Manual as a textbook for learning the trade of handcrafted, scribe-fit, log construction. It is used by log building trade schools throughout the world, but is written for people who want to build or help-build their own log home. My book clearly explains what you need to do to build the walls and roof of scribe-fit log homes.

Most helpful customer reviews

77 of 77 people found the following review helpful.
The State-of-the-Art
By Empire Builder
I just finished reading this book, and I have to say that it is head-and-shoulders above every other log home construction book I've read. The illustrations are superb, and the tone of the text is very objective and factual. In contrast to books with the "this is how I've been building log homes for XXX years" attitude, Chambers' approach is "I didn't invent it, but so far this is the best way I've found to do this particular task. If I find somebody else doing it a better way in the future I'll start doing it that way." Chambers not only isn't afraid of not-invented-here ideas, he positively embraces them! There is even a chapter on the structural engineering of log trusses, written by a structural engineer (fancy that).

Chambers also covers the subject comprehensively, from the highest-level ideas (his chapter on settling is fascinating) to the lower-level details (proper chainsaw stance for cutting the lateral groove, for instance).

Let me contrast this a bit with Mackie's "Owner-Built Log Home". Mackie's book is a good read, because he's a terrific wordsmith and he really conveys the pleasure of building your own log home. But his illustrations aren't nearly as clear as Chambers', and he tends to write for an audience that already understands a lot of wood joinery terminology and procedures. "Then we did this, and this, and this," and I'm like, "whoa, did you skip a few steps there?" I often found myself re-reading a page several times because I just couldn't envision what he was doing in my mind's eye. Chambers never leaves you wondering.

I think both books have a place on your bookshelf, but if you really want to learn the most hands-on information in a single book, this is the one.

2 of 2 people found the following review helpful.
Log Construction Manual: The Ultimate Guide to Building Handcrafted Log Homes
By Ken T. Chow
Log Construction Manual: The Ultimate Guide to Building Handcrafted Log Homes is an excellent book. lots of details and great narration. I am building my own log house. the information is very informative.

12 of 14 people found the following review helpful.
In need of update
By Douglas Sky
This is an excellent "Manual". Most all the info you need if you want to build a hand scribed round log cabin,but no color pictures. If your looking for technical building info this is your book. I bought almost every book available on log homes building and I wouldn't be with out this if you plan to build one yourself. Not much on house plans or pic's though.

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Selasa, 08 Januari 2013

[E532.Ebook] Ebook Free Triumph of the Optimists: 101 Years of Global Investment Returns, by Elroy Dimson, Paul Marsh, Mike Staunton

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Triumph of the Optimists: 101 Years of Global Investment Returns, by Elroy Dimson, Paul Marsh, Mike Staunton

Investors have too often extrapolated from recent experience. In the 1950s, who but the most rampant optimist would have dreamt that over the next fifty years the real return on equities would be 9% per year? Yet this is what happened in the U.S. stock market. The optimists triumphed. However, as Don Marquis observed, an optimist is someone who never had much experience. The authors of this book extend our experience across regions and across time. They present a comprehensive and consistent analysis of investment returns for equities, bonds, bills, currencies and inflation, spanning sixteen countries, from the end of the nineteenth century to the beginning of the twenty-first. This is achieved in a clear and simple way, with over 130 color diagrams that make comparison easy.

Crucially, the authors analyze total returns, including reinvested income. They show that some historical indexes overstate long-term performance because they are contaminated by survivorship bias and that long-term stock returns are in most countries seriously overestimated, due to a focus on periods that with hindsight are known to have been successful.

The book also provides the first comprehensive evidence on the long-term equity risk premium--the reward for bearing the risk of common stocks. The authors reveal whether the United States and United Kingdom have had unusually high stock market returns compared to other countries. The book covers the U.S., the U.K., Japan, France, Germany, Canada, Italy, Spain, Switzerland, Australia, the Netherlands, Sweden, Belgium, Ireland, Denmark, and South Africa.

Triumph of the Optimists is required reading for investment professionals, financial economists, and investors. It will be the definitive reference in the field and consulted for years to come.

  • Sales Rank: #211536 in Books
  • Brand: Brand: Princeton University Press
  • Published on: 2002-01-01
  • Original language: English
  • Number of items: 1
  • Dimensions: 11.28" h x 1.26" w x 8.60" l, 3.30 pounds
  • Binding: Hardcover
  • 320 pages
Features
  • Used Book in Good Condition

Review
"At the very least, this [book] suggests that the recent blind adherence to the cult of the equity needs to be questioned and that the strategic weighting of bonds in institutional portfolios should be increased."--Philip Coggan, Financial Times

"A model of how investor research should be carried out. . . . Like most great books, Triumph of the Optimists has us saying 'Wow!' and 'Unbelievable!' with startling regularity. . . . This is a book that belongs on every investor's bookshelf."--Victor Niederhoffer and Laurel Kenner, "Money" columnists, msn.com

"Connoisseurs of financial history will find plenty to enjoy in Triumph of the Optimists. . . . The evidence produced by Mr. Dimson and his colleagues is striking, [and]. . . these issues are more than just academic. . . . A provocative lesson."--Matthew Lynn, Financial Times

"By far the most important investment book in years. . . .It is the best and most complete source of data yet available. . . . If you spend an hour with it and don't learn anything worth the price then you're truly lousy at learning about markets. . . Right now, buying this book makes more sense than buying stocks."--Ken Fisher, Bloomberg Money

"A brilliant new book."--Jason Zweig, Time

"Our favorite book on global stock market performance. . . . [It] epitomizes outstanding investment research. . . . Unless intelligent life is discovered on another planet and a stock market is found to have been operating there for some centuries, it is unlikely that much new data can be brought to bear on the issue of long-run stock returns. Triumph of the Optimists may well be the last word on the subject for some time to come."--Active Trader magazine

From the Inside Flap
"This will become the definitive empirical basis for analysis of the world's capital markets over the twentieth century. It is an important work of scholarship; no one else has calculated the equity premium of a large number of countries over the long term. In doing so, the book contributes to the very lively debate on the magnitude of the equity premium and will make a splash."--William Goetzmann, Yale University

"Recent years have seen unprecedented public interest in the stock market, but there is a tendency for investors to concentrate on recent U.S. stock market performance. Progress in understanding financial markets requires a much longer timeframe and a global perspective. This book presents and analyzes data from many countries in a simple, standardized way that makes comparisons easy. It makes a number of extremely important points and goes well beyond simple summaries of average returns and historical volatilities to look at such issues as seasonality and industrial structure."--John Campbell, Harvard University

"No investor can afford to risk a penny in the markets without studying this book and absorbing its fascinating lessons. That advice applies whether you are professional or amateur, a youngster or hardened from experience, bold or conservative. This book is history at its most challenging and illuminating. The facts are astonishing, the presentation dazzling, the analysis brilliant, and the lessons profound."--Peter L. Bernstein, author of Capital Ideas and Against the Gods

"This is an important addition to the investment literature and will be widely used by both the academic and business community. To have the scope of data and analysis contained in this book available in one place represents a major contribution and improvement over what is now available."--Martin J. Gruber, New York University

From the Back Cover

"This will become the definitive empirical basis for analysis of the world's capital markets over the twentieth century. It is an important work of scholarship; no one else has calculated the equity premium of a large number of countries over the long term. In doing so, the book contributes to the very lively debate on the magnitude of the equity premium and will make a splash."--William Goetzmann, Yale University

"Recent years have seen unprecedented public interest in the stock market, but there is a tendency for investors to concentrate on recent U.S. stock market performance. Progress in understanding financial markets requires a much longer timeframe and a global perspective. This book presents and analyzes data from many countries in a simple, standardized way that makes comparisons easy. It makes a number of extremely important points and goes well beyond simple summaries of average returns and historical volatilities to look at such issues as seasonality and industrial structure."--John Campbell, Harvard University

"No investor can afford to risk a penny in the markets without studying this book and absorbing its fascinating lessons. That advice applies whether you are professional or amateur, a youngster or hardened from experience, bold or conservative. This book is history at its most challenging and illuminating. The facts are astonishing, the presentation dazzling, the analysis brilliant, and the lessons profound."--Peter L. Bernstein, author of Capital Ideas and Against the Gods

"This is an important addition to the investment literature and will be widely used by both the academic and business community. To have the scope of data and analysis contained in this book available in one place represents a major contribution and improvement over what is now available."--Martin J. Gruber, New York University

Most helpful customer reviews

11 of 16 people found the following review helpful.
Priceless
By GC Fourie
This book, together with a good book on Warren Buffet basics, will provide the private stock market investor with the tools needed for extraordinary investment success. First, a book on Buffet basics will teach the investor how to identify exceptional businesses and how to value them correctly (by calculating the present value of the total cash that can be extracted from the business during its expected life). Next, Triumph of the Optimists will be of tremendous help in selecting the appropriate valuation variables, e.g. equity risk premium, discount rate, etc to be used. By incorporating the statistics provided in this book into your valuations, you will have 101 years of global investment history on your side. As a global investor for more than twenty years, I sometimes had to learn the hard way that "reversion to the mean" is a basic investment truth that dare not be ignored. This book will tell you what that "mean" is. Some may argue that this book is expensive, or that its statistics may be slightly distorted, but in real life this book's practical value makes it priceless.

1 of 3 people found the following review helpful.
Amazing Resource for Investors
By MacheteJason
Triumph of the Optimists is a valuable guide to international investing. 16 developed countries are analyzed and returns for stocks, bonds and bills (as well as inflation) are provided for over a century. This is an incredible collection of expert research for investment professionals with deep analysis and insights from Dimson, Marsh, and Staunton. There isn't the usual easy data mining in this textbook that simply repeats information you already know. The authors have compiled data from some very obscure sources for their calculations and their hard work pays off. Research of this quality isn't widely available for most investors so if you are serious about building a portfolio and understanding historical returns this text is essential. Some of the results challenge the information provided from popular sources such as Morningstar.

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122 of 137 people found the following review helpful.
Very disappointing given the price
By Tim Josling
This is a very handsome book with lovely graphs etc. However I was after a useful summary of historical market performance.
This book was lacking in several respects:
1. The numbers behind the graphs are not provided and are not available so you cannot do any further analysis yourself. The graphs themselves are also drawn in such a way that it is hard to extract the numbers using a ruler.
2. The problem of survivorship bias. They claim that while the 16 countries analysed are an incomplete list (only 70% of world GDP in 1900), this is not a big problem, they feel. Their message that stocks do well in the long run supposedly remains intact, however they do not provide any solid evidence of this. The countries left out of course suffered terrible performance, with total confiscation of assets in most cases and major losses in others.
The countries left out include: Russia, China, Eastern Europe, Latin America. As an example, Argentina was the wealthiest country 100 years ago but was left out. They claim that their criterion for inclusion was the availability of data, but Switzerland was included even though the data is incomplete.
In my opinion, some attempt should have been made to adjust for this problem.
3. No assessment is made of the issue of capital controls etc as an impedement to implementing the world indexing strategy. It is simply assumed that equal dollar indexing could be implemented without any costs, and with no taxes.
All in all, this book fails to provide a realistic and convincing assessment of global investment returns in the real world.
Victor Niederhoffer uses this book to justify his bullishness on stocks, Sorry Vic, no cigar.

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