BetterBizBooks.com - August 2002 Newsletter

Hey there everyone! I hope things are going well and that each and every person had a good summer season.  While I know summer isn't over the end is near so enjoy every lasting minute of it!

The August 2002 newsletter points to TONS of new articles I wrote in the month of July.  Additionally, you will find a few new book reviews, including a recent review of Peter Drucker's new book, Managing in the Next Society.  As many of you are aware, I believe Mr. Drucker is the best management author of the 20th century so check out the book review if you are interested.  Finally, check out the new look of the website and let me know what you think about it.  Further details about the changes can be found in the newsletter.

As always, I appreciate all feedback and comments.  If anyone wants to send some feedback just shoot an e-mail to dan@betterbizbooks.com

So, without further waiting, here is new information on the website that is FREE to readers such as yourself.
 
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A New Look to the Website!
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The month of July marked a major month in the development of the website:

1. I modified the homepage to include my most recent book reviews.
2. I removed the "useful link" section until I can find a way to properly incorporate it into the website.
3. I have added quite a bit of additional white space to the new book reviews and category introductions.  What does this mean?  Hopefully the book reviews are easier to read for you.  To see the difference check out my review of Managing in the Next Society by Peter Drucker (new style) and Deflation by A. Gary Shilling (old style.)  If you want to provide me with feedback or comments don't hesitate to shoot an e-mail to dan@betterbizbooks.com 

By the end of August, if you like the new format, I will have formatted half of the book reviews to the new format.  By September I hope to fully format all the book reviews into the new format.   

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Articles
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I was a busy beaver in the month of July as far as writing goes.

Did your portfolio get banged up in recent months as the stock market plummeted?  If you are interested in my thoughts on the economy I have put together some articles of varying investment-related topics:

1. I need to reiterate my investment-related comments from early June 2002. I believe that debt levels are going to be a HUGE issue in the recovery of the economy.  I don't believe that the economy will ramp-up as quickly as most economists believe. 

2. This article, written in early July, discusses the impact of a falling dollar on the U.S. stock prices and you, the consumer.  The recent weakness in the U.S. dollar is already causing inflationary pressures to emerge as factories / manufacturers are already having to pay more for the products they are importing.  This may result in handcuffing the Federal Reserve.  They want to lower interest rates to offset a weakening economy but inflationary pressures are emerging, which says they should raise interest rates.  How does this affect you?  

3. Is a housing bubble forming?  This has been a HUGE issue between the bears and bulls on Wall Street.  It is important because many Americans are taking money out of the stock market and investing it in a 2nd home using the logic that the stock market is a poor investment and home prices have gone up for the last 50 years.  This article discusses some of the issues about the housing market.  

4. With all the hoopla about expensing stock options I think the media is missing a HUGE element of the issue.  Why are stock options granted?  What is the assumption behind the granting of options?  Are they based on return on sales or return on equity or cash flow growth?  Do they include one-time items?  Definitely not an exciting article for many but I believe that managers behave based on the perceived risk / reward ratio for their individual situation.  Now that managers are going to jail many won't even try to bend the accounting rules, let alone break them. 

5. A MUST READ!  Is the market overvalued or undervalued based on historical valuations?  What is the EPS forecast for this year and next year in the S&P 500?  Can companies attain the forecasted results?  I discuss some key issues affecting the stock market today in this article.  

6. I just published this article yesterday, which is why the newsletter delayed by a day.  Want to know where the stock market is likely to trade to, based on technical analysis (TA)?  What is TA?  In this article I indicate some of my thoughts on TA and what my interpretation of the charts is showing.

In addition to the five investment-related articles I wrote five opinion / editorial articles:

1. Investing = Gambling?

2. The homeland security debate - My take on it.

3. The pledge of allegiance & GOD debate

4. The corporate confidence crisis

5. Michael Jackson & racism in the music industry.

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New Book Reviews
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A few new book reviews for August ( posted in order from my favorite to least favorite).  I believe all of them provide some value but none caused me to see the world from a different perspective.  Chapter 14 of Peter Drucker's book was AWESOME though.  

1. Managing in the Next Society by Peter Drucker
2. Economic Puppetmasters by Lawrence Lindsey
3. Don't send a Resume by Jeffrey Fox

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Book of the Month
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I will be publishing my review of Free Agent Nation by Daniel Pink in the next few days.  It is only available via the book club until the 1st of Next Month.

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I am Currently Working on the Following:
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1. Moving sometime in September/October
2. I will be doing more reading in the month of August.  In the last 2 weeks I have accomplished very little reading due to writing.  I felt it was essential to get my writing going and to start the creative juices flowing. 
3. I will be reviewing / writing commentary for future months based on books I have already read.  In the past year I have read tons of great comments / information and I hope to convey some of the thoughts to you in business-related articles. 

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BetterBizBooks.com is founded and operated by Dan Ross and is an personal website to provide independent and public research. This report is provided as a public service. All information provided must be understood as opinion only and is not investment advice. All statements and expressions are the opinion of BetterBizBooks.com and are not meant to be a solicitation or recommendation to buy, sell, or hold any form of investment vehicle. Any opinion made by BetterBizBooks.com is based on raw data and reports that have been presented by independent government agencies, private industry associations and other sources.  BetterBizBooks.com makes no representation or warranty as to the accuracy of the information provided. The information provided should only be used as a research tool.  Reading of this document constitutes your acceptance of these terms and conditions.