Jumat, 31 Desember 2010

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  • Published on: 1600
  • Binding: Paperback

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Sabtu, 25 Desember 2010

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This book is designed to help any Trackman user, Golf professional or average golfer understand more about the Numbers associated with Trackman and also the ball flight laws in general. This book will help you learn the basics of how each factor affects the ball flight and gives simple examples of how they interact.

  • Sales Rank: #690302 in eBooks
  • Published on: 2015-06-18
  • Released on: 2015-06-18
  • Format: Kindle eBook

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0 of 0 people found the following review helpful.
Trackman kindle book review
By steven vig
This was a brief kindle book with a pretty good explanation of the trackman numbers. I would like to see a longer book with some actual examples of amateur swings and pro swings on trackman and recommended changes to the swing from a teaching professional based on the trackman numbers and what the swing looks like. There are some good videos on trackman if you search on youtube for " Trackman Maestro". Steven Vig

0 of 0 people found the following review helpful.
Great Starter Information. The Basics.
By Brian P Butler
This booklet gives the initial outline of basic information delivered by the Trackman. I was expecting to see data tables for players of various abilities to use as benchmarks.

0 of 0 people found the following review helpful.
One Star
By Kerryn Jamieson
Very average and you can find alk of the information through trackman withour having to pay for it

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Project Plan Tasks for Business and Quality Analysts, by Teresa Bennett

Are you finding that you never seem to have enough time ona project to compete all of your tasks in the time frame allowed? Are you a new business or quality analyst and you’re not sure what tasks you should be completing for your projects?

This book has a list and descriptions of over 35 tasks that should be included in project plans for business and quality analysts. It also includes some added details about what information goes into some of the documents being created as part of these tasks.

  • Sales Rank: #802053 in eBooks
  • Published on: 2011-06-09
  • Released on: 2011-06-09
  • Format: Kindle eBook

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5 of 5 people found the following review helpful.
Plan for Success
By KES
First, I suppose, a note about me. I'm a business analyst for a professional services company (consulting and custom software development for external customers). I've been with them for over 5 years and work with clients in many business domains including financial services, manufacturing, insurance, and pharmaceuticals. In the past, I've held jobs as a (really bad) developer and a (really good) quality analyst. Now, for the review.

This book on project plan tasks for BA's and QA's includes a solid baseline, but is not exhaustive. If you're a seasoned professional, this probably won't be very helpful for you. However, if your projects are going over budget or you're new to working in either of these roles or perhaps new to planning and estimating your project tasks, this might be helpful as a primer.

The book has 155 locations and includes 14 tasks for business analysts and 25 tasks for quality analysts. The guide assumes that you are familiar with software development and its terminology. If you're green, you might need to look up a few terms. The book deals mostly with the Requirements Planning and Management knowledge area if you are familiar with the IIBA's BABOK. If the majority of your job is in the Enterprise Analysis area, be aware that there are only a few tasks described in the book to help you.

Depending upon your organization's software development methodology and your primary job function, there may be several critical tasks missing from this guide that you need to factor into your project plan. I'm not sure if the author assumed that it was included in each of the other tasks listed, but remember that you will need time to plan your meetings, plan your requirements elicitation approach, plan your workshop, etc. This is often forgotten and a large chunk of time is frittered away with planning. You will also need time for analysis of any artifacts that are provided to you and the existing solution. If there's nothing for you to use as a starting point to help plan out your elaboration, you will need time to do research as the requirements gathering progresses. You'll probably also need time to do impact, gap, and/or conflict analysis on your requirements as you start to flesh them out. As a BA, you don't just hear something and write it down like so many people think - you need time to digest the information, noodle on it (I call it marinating time), so don't forget to include a task for it or estimate it in your other tasks. If you don't have a requirements tool, ensure that you allocate time for requirements traceability (BR to FR to UC/diagram/wireframe/mockup, etc.). The author mentions the creation of mockups and current/future state flows, but there are many other types of diagrams that can be used to help convey, clarify, or put requirements in context - so don't forget to factor those into your project plan.

This book addresses most of the tasks that BA's do during requirements gathering, but doesn't include any BA tasks for the development and testing phases. In my organization, BA's are involved in each stage of the project with the volume of work concentrated during the requirements elicitation and documentation phase, ramping down during development, and then picking back up during the testing phases. During development, our BA's are responsible for requirements clarification, communication, and management, as well as reviewing the test plan and test cases produced by the QA team. We also do scope enforcement and solution validation at a minimum. If training or help documentation are required for the QA team or the client, our BA's lead those efforts. During testing, our BA's continue to provide the above mentioned "services" as well as issue verification (sometimes called scope verification). Sometimes, our BA's will act as the QA and/or UAT Lead and therefore perform additional tasks for those roles. If your organization has a similar model, also think about those tasks.

The guide is heavily weighted with QA tasks and is more comprehensive (in my opinion) than the BA section. The only potential tasks I would add to the author's list are vulnerability assessments and/or penetration tests. In my organization, these would be supported by a technical lead, but in others, I imagine these might be supported/facilitated by a testing coordinator.

In the end, this is a decent starting place for those new to planning requirements gathering or testing phases, but might not be quite as useful for those with more experience.

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Jumat, 24 Desember 2010

[T768.Ebook] PDF Ebook Fortran Optimization (A.P.I.C. studies in data processing), by Michael Metcalf

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FORTRAN has always been intended to be an efficient high-level language, and its adherence to this original design aim has helped it to achieve a dominant position in scientific, engineering and other areas of computing. However, advice on how to obtain the best possible performance has, until now, been scattered through the literature, in brief articles, detailed reports on specific computers, and very general and often superficial chapters in books on FORTRAN programming.**This book, for the first time, deals with the whole topic in a systematic fashion, and every effort has been taken to include only the most up-to-date information, and to present it in a way which clearly distinguishes between the different techniques required for the various types of compiler.**The book begins with an extensive introduction to the subject, including a justification for optimizing, explanations of the hardware of modern computers, and the optimizing techniques used by FORTRAN 77 compilers. The preparatory work required before optimizing begins is covered, followed by a detailed discussion of the procedures which may be applied to source code to achieve the highest efficiency of execution, according to the type of compiler used. IBM and CDC compilers are covered in detail. Program portability is discussed and the use of super-computers introduced. The plans for future FORTRAN are presented. A widely used layout-program appears in an appendix.**FROM THE PREFACE: Throughout its more than two decades of history, one of FORTRAN's main strengths as a programming language has been its adherence to its original design aim of providing efficient program execution. However, advice on how to obtain the best possible performance has hitherto been scattered, being contained either in reports on specific computers and compilers (e.g. Smith et al., 1977), or in parts of various books of rather too general a nature. This book brings together for the first time a detailed survey of the means by which FORTRAN source code may be optimized, and includes other background information which should enable the reader to understand better how a FORTRAN program is processed by a compiler, and subsequently executed. As such, it is intended to help all those who write or run FORTRAN programs to make efficient use of computer resources without making unjustifiably great demands on their own time.**This book should be useful as a reference work for anyone engaged in FORTRAN programming on any scale greater than simple, single-shot, short jobs, and as a supplementary text in any course on FORTRAN programming beyond the preliminary stages.

  • Sales Rank: #10144958 in Books
  • Published on: 1982-11
  • Original language: English
  • Number of items: 1
  • Binding: Hardcover
  • 250 pages

Review
....up till now, as far as I am aware, no one has addressed the overall subject of algorithmic optimisation in a way that gives practical advice to the programmer. In this book, the subject is completely covered....
I would wholeheartedly recommend this book to all professional FORTRAN programmers...
--P.A. Clarke, Luton in THE COMPUTER JOURNAL

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Minggu, 19 Desember 2010

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Two Hours to Doom (aka Red Alert), by Peter (pseudonym of Peter George) Bryant

  • Published on: 1961
  • Binding: Mass Market Paperback

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Rabu, 15 Desember 2010

[G322.Ebook] Get Free Ebook Going to Mars?: Serenity, by Paul van Staden

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Going to Mars?: Serenity, by Paul van Staden

Going to Mars? - Serenity is Book 1 of three ebooks in which the author endeavours to get the reader into believing that they are the first humans to go to Mars. The author's experience in the Antarctica is used to set the environment and then generates corresponding colour tailored images to produce an imaginative Mars environment. "Serenity" looks at some of the many surreal images from Antarctica and how they would potentially look like on the surface of Mars. NOTE - This ebook is in mobi format and is in colour. Not suitable for viewing in black and white only readers.

  • Sales Rank: #2756806 in eBooks
  • Published on: 2015-06-27
  • Released on: 2015-06-27
  • Format: Kindle eBook

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0 of 0 people found the following review helpful.
Love the Comparison.
By Lidia M.
What a great read and the pictures are amazing. I love how the author compared the Antarctic with Mars and simple to understand. Looking forward to the next book.

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Selasa, 14 Desember 2010

[H943.Ebook] Download Ebook Robust Electronic Design Reference Book : Volume II, by John R. Barnes

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Robust Electronic Design Reference Book : Volume II, by John R. Barnes

Book by Barnes, John R.

  • Sales Rank: #11250056 in Books
  • Brand: Brand: Springer
  • Published on: 2003-11-01
  • Number of items: 1
  • Binding: Hardcover
Features
  • Used Book in Good Condition

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Jumat, 10 Desember 2010

[A706.Ebook] Download PDF The Condensed Protocols from Molecular Cloning: A Laboratory Manual, by Joseph Sambrook, David W. Russell

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The Condensed Protocols from Molecular Cloning: A Laboratory Manual, by Joseph Sambrook, David W. Russell

The Condensed Protocols From Molecular Cloning: A Laboratory Manual is a single-volume adaptation of the three-volume third edition of Molecular Cloning: A Laboratory Manual. This condensed book contains only the step-by-step portions of the protocols, accompanied by selected appendices from the world's best-selling manual of molecular biology techniques. Each protocol is cross-referenced to the appropriate pages in the original manual. This affordable companion volume, designed for bench use, offers individual investigators the opportunity to have their own personal collection of short protocols from the essential Molecular Cloning. Related Titles from the Publisher Molecular Cloning: A Laboratory Manual, 3rd Edition(9780879697716) Protein-Protein Interactions: A Molecular Cloning Manual, Second Edition (9780879697235)

  • Sales Rank: #2598505 in Books
  • Published on: 2006-05-31
  • Ingredients: Example Ingredients
  • Original language: English
  • Number of items: 1
  • Dimensions: 1.19" h x 8.42" w x 11.08" l, 1.10 pounds
  • Binding: Paperback
  • 800 pages

Review
....admirably expands on that tradition to provide a truly essential laboratory manual. Trends in Microbiology. Any basic research laboratory using molecular biology techniques will benefit from having a copy on hand.. -- Scientist. This book should be the first port of call when establishing a molecular technique new to a laboratory --Trends in Cell Biology

Most helpful customer reviews

7 of 7 people found the following review helpful.
Condensed protocols from Molecular Cloning: A laboratory manual
By Hefe
The condensed protocols version of Molecular Cloning is well written, concise and adequately referenced. Protocols are easy to follow and provide options depending upon individual experimental needs and preference.

The protocols provide information from home made recipes to prepared reagents available commercially.

The protocols work in my hands.

The book is large and not easily used on bench top. Otherwise it is a good resource for the laboratory.

0 of 0 people found the following review helpful.
Ridiculous pricing!
By Sam's Mommy
I have used this book and it is great! But is it worth 900$! No! It is not funny to have such ridiculous prices for OLD books, no matter how valuable they are and especially when you can buy them elsewhere for 100$. Amazon needs to do something about this.

1 of 1 people found the following review helpful.
nice bench top protocols
By Arabidopsis
It is a nice written and ease read manual. It is still too heavy to carry around, I wonder whether this can be a half-sized book that is printed in smaller fonts. I guess molecular biologists wouldn't care about small size fonts, they deal with small stuff all the time.

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Kamis, 09 Desember 2010

[E779.Ebook] Ebook TRIZ for Engineers: Enabling Inventive Problem Solving, by Karen Gadd

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TRIZ for Engineers: Enabling Inventive Problem Solving, by Karen Gadd

TRIZ is a brilliant toolkit for nurturing engineering creativity and innovation. This accessible, colourful and practical guide has been developed from problem-solving workshops run by Oxford Creativity, one of the world's top TRIZ training organizations started by Gadd in 1998. Gadd has successfully introduced TRIZ to many major organisations such as Airbus, Sellafield Sites, Saint-Gobain, DCA, Doosan Babcock, Kraft, Qinetiq, Trelleborg, Rolls Royce and BAE Systems, working on diverse major projects including next generation submarines, chocolate packaging, nuclear clean-up, sustainability and cost reduction.

Engineering companies are increasingly recognising and acting upon the need to encourage successful, practical and systematic innovation at every stage of the engineering process including product development and design. TRIZ enables greater clarity of thought and taps into the creativity innate in all of us, transforming random, ineffective brainstorming into targeted, audited, creative sessions focussed on the problem at hand and unlocking the engineers' knowledge and genius to identify all the relevant solutions.

For good design engineers and technical directors across all industries, as well as students of engineering, entrepreneurship and innovation, TRIZ for Engineers will help unlock and realise the potential of TRIZ. The individual tools are straightforward, the problem-solving process is systematic and repeatable, and the results will speak for themselves.
This highly innovative book:

  • Satisfies the need for concise, clearly presented information together with practical advice on TRIZ and problem solving algorithms
  • Employs explanatory techniques, processes and examples that have been used to train thousands of engineers to use TRIZ successfully
  • Contains real, relevant and recent case studies from major blue chip companies
  • Is illustrated throughout with specially commissioned full-colour cartoons that illustrate the various concepts and techniques and bring the theory to life
  • Turns good engineers into great engineers.

  • Sales Rank: #463982 in Books
  • Published on: 2011-03-21
  • Original language: English
  • Number of items: 1
  • Dimensions: 9.70" h x .92" w x 6.70" l, 2.35 pounds
  • Binding: Paperback
  • 504 pages

From the Back Cover
TRIZ for Engineers: Enabling Inventive Problem Solving
Karen Gadd, Oxford Creativity

"Karen Gadd has introduced this exciting modern approach to innovation to many companies.. I am very pleased that she has now captured the essence of TRIZ in this well-written and very readable book, with its colourful and amusing illustrations, making TRIZ accessible to an even wider audience."--Richard Parker, FREng, Director of Research and Technology, Rolls-Royce Group

TRIZ is a brilliant toolkit for nurturing engineering creativity and innovation. This accessible, colourful and practical guide has been developed from problem-solving workshops run by Oxford Creativity, one of the world's top TRIZ training organizations started by Gadd in 1998. Gadd has successfully introduced TRIZ to many major organisations such as Airbus, Sellafield Sites, Saint-Gobain, DCA, Doosan Babcock, Kraft, Qinetiq, Trelleborg, Rolls Royce and BAE Systems, working on diverse major projects including next generation submarines, chocolate packaging, nuclear clean-up, sustainability and cost reduction.

Engineering companies are increasingly recognising and acting upon the need to encourage successful, practical and systematic innovation at every stage of the engineering process including product development and design. TRIZ enables greater clarity of thought and taps into the creativity innate in all of us, transforming random, ineffective brainstorming into targeted, audited, creative sessions focussed on the problem at hand and unlocking the engineers' knowledge and genius to identify all the relevant solutions.

For good design engineers and technical directors across all industries, as well as students of engineering, entrepreneurship and innovation, TRIZ for Engineers will help unlock and realise the potential of TRIZ. The individual tools are straightforward, the problem-solving process is systematic and repeatable, and the results will speak for themselves.

This highly innovative book:

  • Satisfies the need for concise, clearly presented information together with practical advice on TRIZ and problem solving algorithms
  • Employs explanatory techniques, processes and examples that have been used to train thousands of engineers to use TRIZ successfully
  • Contains real, relevant and recent case studies from major blue chip companies
  • Is illustrated throughout with specially commissioned full-colour cartoons that illustrate the various concepts and techniques and bring the theory to life
  • Turns good engineers into great engineers.

About the Author
Karen Gadd has been teaching TRIZ and problem solving with engineering teams from major companies for over 13 years. Her mission is to make TRIZ learning straightforward and the TRIZ Tools easy to use. She has worked on nothing but TRIZ since discovering and learning its power to give us all the routes, to all the solutions, to all engineering problems.
In 1998 Karen started Oxford Creativity to concentrate on developing simple and practical TRIZ problem solving for the European market. Karen has taken TRIZ to major companies including Rolls-Royce, British Nuclear Group, Bentley Motors, BAE Systems, Nissan, Pilkington, Borealis and Sanofi Aventis. Oxford Creativity is now well established as one of the world's top TRIZ companies and has helped to make TRIZ well known and widely used throughout Europe and encouraged top companies to create expert TRIZ teams for innovative problem solving.
Karen studied Mechanical Engineering at Imperial College, and has an MBA from London Business School. After working in strategy and corporate planning in the City of London she returned to live in Oxford and was a tutor at Oxford's Business School the European School of Management ESCP-EAP (based in Paris, Oxford, Madrid and Berlin). From 1995-2002 she was a Governor of Coventry University. Karen's career has been dedicated to creating new enterprises which make a difference - she founded both MUSIC at OXFORD and the European Union Baroque Orchestra and ran both for over ten years and raised millions in corporate sponsorship to make their activities possible. These successful music organisations still flourish. MUSIC at OXFORD transformed Oxford's music scene and is now approaching its 30th season of top professional classical concerts. EUBO has celebrated 25 years of launching the careers of talented young musicians and has been so successful in its mission, that there are now former EUBO students in every major professional baroque ensemble in the world. Karen launched Oxford Creativity to make TRIZ accessible to everyone and transform and launch careers of TRIZ enthusiasts and champions. There are now thousands of engineers who have learned TRIZ from Karen and who intelligently daily apply TRIZ to solve difficult technical and scientific problems.
Karen is long married, has four children and three grandchildren lives happily in Oxford and the Lake District. Karen has recently become a director of the Orchestra of St.John's and concerts and singing are still part of her interests and activities.

Most helpful customer reviews

1 of 1 people found the following review helpful.
Very easy to read!
By Jose J Valadez Posadas
I suggest to use this book as part of the basic package to start learning TRIZ. The cartoons make you smile, the writing style is like talking to someone, which makes it easy to read.

0 of 1 people found the following review helpful.
In depth explanation of TRIZ, but repetitive, wordy, redundant, and repetitive. Trimming would improve this book tremendously.
By Amazon Customer
I recently learned about TRIZ and purchased this book to develop a better understanding of the subject. While the book is sufficiently in depth, it is a torturous read. It is wordy, repetitive, and somewhat disorganized. More space is dedicated to describing (and justifying) what the book will be explaining than in the actual explanation. The same exact ideas, often word for word, are presented over, and over, and over, and... However, the real world examples of TRIZ application are most helpful, so much so I wish there were more of them, that each one presented was carried through to conclusion, and that the process was described in even greater detail. I learn more from seeing how something is done than by reading about how it should be done. The subject matter is interesting and I would have like to have learned how to apply TRIZ in real life (my ideal outcome), but I don't feel like this book alone has prepared me to do so. One last word of warning. Many of the cartoons and diagrams are not legible reading this on Kindle.

5 of 8 people found the following review helpful.
A modern and detailed text on TRIZ for technologist and beyond
By Herbert Roberts
I liked TRIZ for Engineers. As a practicing engineer for 20 years, and as a student of TRIZ for five years, I have read a wide range of text on classical TRIZ and higher levels of TRIZ approaches used in inventive problem solving. The book presents real engineering problems in short form scenarios and through case studies that include detailed notes on how to use a range of TRIZ tools to generate solutions. The example problems are engineering based, but less industrial focused, so the examples have a wide application to the engineering market and technologist new to the basic TRIZ concepts.

The book offers problem solving maps and algorithms that illustrate how the TRIZ tools presented in the chapters can combine to form larger algorithms. The solution maps present through out the chapters flow through the early phases of developing a problem statement, identifying which TRIZ tools fit the problem scenario and onward to developing and applying solutions. The book also offers color figures and tables, which compliment the text as it illustrates how TRIZ is used to model systems and analyze functions. Thematic cartoons are included, as the author notes to bring some levity to the educational process. In my opinion, the cartoons present a physical contradiction as a reader, as they both add and distract from the text and the more formal diagrams and figures.

The author emphasizes that TRIZ is a set of tools, which can offer more than one solution to a problem and that all solutions have some level of merit based on the users needs. This perspective is well supported in the book's classical TRIZ modeling examples. The later chapters include examples of the Traditional TRIZ 76 Standard Solutions, Substance-Field modeling, and ARIZ, which adds clarity to modeling problems with higher-level TRIZ tools. These advanced concepts discussions are supported with case study based examples. The book offers illustrations of blank worksheets that students can use as a reference to help analyze and execute the book's algorithms while problem solving. There are also chapters describing how the TRIZ concepts can be used to analyzing trends and inventing with TRIZ beyond the basic problem solving.

The best part of the book from my perspective is the text-based descriptions of creating a functional analysis model and developing solutions through trimming and substitution of the functional models. I complement Karen Gadd on her efforts to bring TRIZ to engineers, and will recommend the book to TRIZ novices and more experienced inventive problem solvers.

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Rabu, 08 Desember 2010

[T291.Ebook] Ebook Download Active Portfolio Management: A Quantitative Approach for Producing Superior Returns and Selecting Superior Returns and Controlling Risk (Mc

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"This new edition of Active Portfolio Management continues the standard of excellence established in the first edition, with new and clear insights to help investment professionals."

-William E. Jacques, Partner and Chief Investment Officer, Martingale Asset Management.

"Active Portfolio Management offers investors an opportunity to better understand the balance between manager skill and portfolio risk. Both fundamental and quantitative investment managers will benefit from studying this updated edition by Grinold and Kahn."

-Scott Stewart, Portfolio Manager, Fidelity Select Equity ® Discipline

Co-Manager, Fidelity Freedom ® Funds.

"This Second edition will not remain on the shelf, but will be continually referenced by both novice and expert. There is a substantial expansion in both depth and breadth on the original. It clearly and concisely explains all aspects of the foundations and the latest thinking in active portfolio management."

-Eric N. Remole, Managing Director, Head of Global Structured Equity, Credit Suisse Asset Management.

Mathematically rigorous and meticulously organized, Active Portfolio Management broke new ground when it first became available to investment managers in 1994. By outlining an innovative process to uncover raw signals of asset returns, develop them into refined forecasts, then use those forecasts to construct portfolios of exceptional return and minimal risk, i.e., portfolios that consistently beat the market, this hallmark book helped thousands of investment managers. Active Portfolio Management, Second Edition, now sets the bar even higher. Like its predecessor, this volume details how to apply economics, econometrics, and operations research to solving practical investment problems, and uncovering superior profit opportunities. It outlines an active management framework that begins with a benchmark portfolio, then defines exceptional returns as they relate to that benchmark. Beyond the comprehensive treatment of the active management process covered previously, this new edition expands to cover asset allocation, long/short investing, information horizons, and other topics relevant today. It revisits a number of discussions from the first edition, shedding new light on some of today's most pressing issues, including risk, dispersion, market impact, and performance analysis, while providing empirical evidence where appropriate. The result is an updated, comprehensive set of strategic concepts and rules of thumb for guiding the process of-and increasing the profits from-active investment management.

  • Sales Rank: #576288 in eBooks
  • Published on: 1999-11-16
  • Released on: 1999-11-16
  • Format: Kindle eBook

Most helpful customer reviews

44 of 48 people found the following review helpful.
My favorite book on portfolio theory
By Scott C. Locklin
There's three basic categories of quants. Structurers, risk managers and traders. Structurers don't need this book. They should go buy Hull and be happy. Every risk manager and trader in the business needs this book. When I was first introduced to this book, I figured it was more or less only for their money management businessa manual for building Barclays Index Plus funds. That is what Grinold and Kahn do for a living, and they probably wrote the book to have something to give to dumb pupils who don't know anything. The book certainly covers some of the details and models used in money management tasks. However, this book is a lot more than that. They didn't write a book about specific investment instances that come up. They write a book which generalizes well to all fields involving information under uncertainty. They don't talk much about futures or options; this really is about equities, but if you're trading in those other markets, you still need this book.

Yes, you actually do need some calculus and linear algebra to read the book. It's written for people who understand math; it's a book on *quantitative* finance -not "seat of pants" trading. Even if you skip the mathematics (and most of the heavy stuff is kept neatly tucked away in appendices, so as not to frighten the MBAs and small children), you're likely to get something out of it: at least you'll have a vague idea of what the propeller heads in the white laboratory jackets are up to. What I find most remarkable about the book is how it rewards upon rereadings. Got a trading problem? There is probably a section in this book which relates to it. When I'm banging my head on a problem, and getting no joy from the google machine, Grinold and Kahn's book often has something which at least points me to the answer. This is a remarkable quality, as the book really was, as far as I can tell, written to help out with the kinds of tasks they face at BGI.

If you're a former physics nerd, the classic physics book it most resembles for me is the Landau & L. (amazon won't let me say the other guy's name) book on classical mechanics. The clarity and density of G&K's book very much resemble L&L. Like L&L, it can be used as a first text on this sort of thing. You may prefer to get your basics elsewhere; I liked learning mechanics from Goldstein for example, but once I knew my p's and q's, I tossed Goldstein and just read L&L when I needed professional insight. G&K is like this; theirs is the book that you'll keep around as a reference once you have a handle on the basics whether you learn the basics from them or not.

Personally, I would have liked a little more meat on non-parametric statistics, maybe some overarching Bayesian framework and some ideas on backtesting, a la bootstrap resampling, but it would probably change the tenor of the book and reduce its utility for what they do at work. Still, they'll probably read this review, and if they take requests, that's mine.

48 of 54 people found the following review helpful.
Not an easy read
By GM
This book was recommended to me as the bible of active management. I attempted reading it several times, but gave up every time. Coming from a science and engineering background, I find the exposition verbose, yet lacking a ground-up derive-from-fundamentals approach. Even in the description of CAPM, I cannot tell the assumptions from the conclusions of the theory. The book is not an easy read, but I don't think that's because the subject is inherently hard.

Update: I've found "Quantitative Equity Portfolio Management: An Active Approach to Portfolio Construction and Management" by Chincarini and Kim to be a good alternative.

Update 2: Please see Timothy Falcon Crack's response to my review. Having read his books, I really respect his opinion. He calls this book "masterpiece", and he says he ended up writing another book (Foundations for Scientific Investing) to make understanding the subject easier. You may want to check it out first.

13 of 14 people found the following review helpful.
Groundbreaking
By investingbythebooks
Academic financial text books have, to a large extent, focused on beta and the so called efficient market. Active Portfolio Management was groundbreaking when it was first published in 1994 as instead it was devoted to the practical process of generating alpha from a quantative angle. Richard Grinold and Ronald Kahn, today retired and at BlackRock respectively, share a history in academia, at BARRA and above all at the quant behemoth Barclays Global Investors where they both held leading positions while writing this book.

Even though the book is full of financial theory the approach is practical. The topic at hand is the generation of risk adjusted relative returns. The market returns are always the baseline and success is measured by the IR (the ratio of residual return to residual variance) rather than an academic Sharpe ratio. When I first read this book 10 - 12 years ago I didn't by any means find it enjoyable. It's thick, theoretical, filled with formulas and I was frankly not ready for it. Yet, over the years I find myself returning to the key concepts of the book over and over again. Out of the four parts the first lays out the authors' theories and then the latter three cover the practical work of a quant PM.

The claim to fame of the book is a concept called The Fundamental Law of Active Management that reads IR=IC*√BR. It states that there are two sources of oportunities to increase the information ratio. The first is the ability to forecast asset's residual return, measured by the information coefficient. The IC is the connection between forecasts and eventual returns, IC=2*(N1/N)-1 where N1 denotes the number of correct bets and N the total number of bets made. It's a measure of skill. Active asset management is all about forecasting. Success in forecasting doesn't only hinge on doing things right but also on doing the right thing, i.e. not only on the PMs skill but on wheather the pond he is fishing in is promissing. This is where BGIs quant signals come into play but also Warren Buffett's concept of Graham and Doddsville. The second source of IR is breadth - the number of independent active oportunities per year the PM have to use his skill on. IC is about the quality of investment opportunities while BR is about the quantity of investment opportunities through coverage of more securities or a higher frequency of opportunities. It is for example more valuable to be able to forecast the returns of 1600 stocks than 1100 stocks. To increase the IR from 0,5 to 1,0 one would need to double skill, increase breadth by a factor of four or some combination of the two. This additive value of further breadth requires investment opportunities to be totally uncorrelated (this favours an eclectic investment style). If a new opportunity is fully correlated to a previous one it adds no IR. Most opportunities fall somewhere in between.

Often the asset management process focuses excessively on the quality of bets versus the quantity. The concept of breadth emphasizes the negative secondary effects that come with placing limits on an investment process with an edge. It's not only that limiting the investment universe deducts IR, the implications are broader. Limiting yourself to being long only lowers IR. Placing restrictions on the amount of cash in the portfolio lowers IR, so does demanding sector neutrality in an equity portfolio etc. In reality you only need to have a very small edge, say a 0,52 hit ratio to create a great IR if the breadth is large - so don't constrain yourself without good cause.

The opening line of the book reads "The art of investing is evolving into the science of investing." In many ways the book was a precursor to today's world of multifactor risk factor models, exotic betas etc., i.e. the systematization of all the alpha signals that can be systemized - leaving precious little pure alpha for traditional active investors. In an interview Grinold stated "The goal is to replace heroic personalities contending in an atmosphere of greed and fear with compelling hypotheses subjected to hard data." This is an important book, but I kind of like my heroes.

This is a review by investingbythebooks.com

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