A highly useful, authoritative work that should serve as a fine primer for anyone pursuing real estate investment.

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CASH FLOW FOREVER

THE REAL SECRETS OF REAL ESTATE INVESTING

Levelheaded investment advice from a real estate expert.

This debut guide’s promissory title may smack of get-rich-quick innuendo, but it instead takes a straightforward, low-key approach to real estate investing. The author, a professional with nearly four decades of real estate experience, walks readers through the process of investing in real estate properties, using plenty of examples from his own evaluations and purchases. In short, easy-to-understand chapters, he offers sensible advice while explaining key concepts such as the financial capacity to invest, due diligence on properties, effective real estate partnerships, and a property’s income potential. Along the way, Johnson addresses more personal, philosophical issues; for example, his discussion about identifying “emotional triggers” (“the experiences in our lives that have impacted us and identify what really motivates us”) gives the book a thought-provoking depth and lifts it out of the how-to-invest genre. On the practical side, the author encourages budding investors to view property as an accumulation of assets rather than a buy-and-sell opportunity: “Accumulation is the number one ingredient in building net worth,” he writes. In another chapter, Johnson takes direct aim at people who pitch the notion of buying property with little or no money down: “Nothing-down deals give an investor a larger monthly payment—and big headaches—if everything doesn’t go exactly as planned,” he counsels. Although the author is generally bullish regarding his subject, he tempers his enthusiasm with a down-to-earth pragmatism. Throughout, he comes across as knowledgeable, wise, and sincere as he shares his own ups and downs, as well as tricks of the trade, to help prospective investors achieve success.

A highly useful, authoritative work that should serve as a fine primer for anyone pursuing real estate investment.

Pub Date: May 22, 2013

ISBN: 978-1489524485

Page Count: 258

Publisher: CreateSpace

Review Posted Online: March 19, 2015

Kirkus Reviews Issue: April 15, 2015

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Striking research showing the immense complexity of ordinary thought and revealing the identities of the gatekeepers in our...

THINKING, FAST AND SLOW

A psychologist and Nobel Prize winner summarizes and synthesizes the recent decades of research on intuition and systematic thinking.

The author of several scholarly texts, Kahneman (Emeritus Psychology and Public Affairs/Princeton Univ.) now offers general readers not just the findings of psychological research but also a better understanding of how research questions arise and how scholars systematically frame and answer them. He begins with the distinction between System 1 and System 2 mental operations, the former referring to quick, automatic thought, the latter to more effortful, overt thinking. We rely heavily, writes, on System 1, resorting to the higher-energy System 2 only when we need or want to. Kahneman continually refers to System 2 as “lazy”: We don’t want to think rigorously about something. The author then explores the nuances of our two-system minds, showing how they perform in various situations. Psychological experiments have repeatedly revealed that our intuitions are generally wrong, that our assessments are based on biases and that our System 1 hates doubt and despises ambiguity. Kahneman largely avoids jargon; when he does use some (“heuristics,” for example), he argues that such terms really ought to join our everyday vocabulary. He reviews many fundamental concepts in psychology and statistics (regression to the mean, the narrative fallacy, the optimistic bias), showing how they relate to his overall concerns about how we think and why we make the decisions that we do. Some of the later chapters (dealing with risk-taking and statistics and probabilities) are denser than others (some readers may resent such demands on System 2!), but the passages that deal with the economic and political implications of the research are gripping.

Striking research showing the immense complexity of ordinary thought and revealing the identities of the gatekeepers in our minds.

Pub Date: Nov. 1, 2011

ISBN: 978-0-374-27563-1

Page Count: 512

Publisher: Farrar, Straus and Giroux

Review Posted Online: Sept. 4, 2011

Kirkus Reviews Issue: Sept. 15, 2011

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A readable, persuasive argument that our ways of doing business will have to change if we are to prosper—or even survive.

REIMAGINING CAPITALISM IN A WORLD ON FIRE

A well-constructed critique of an economic system that, by the author’s account, is a driver of the world’s destruction.

Harvard Business School professor Henderson vigorously questions the bromide that “management’s only duty is to maximize shareholder value,” a notion advanced by Milton Friedman and accepted uncritically in business schools ever since. By that logic, writes the author, there is no reason why corporations should not fish out the oceans, raise drug prices, militate against public education (since it costs tax money), and otherwise behave ruinously and anti-socially. Many do, even though an alternative theory of business organization argues that corporations and society should enjoy a symbiotic relationship of mutual benefit, which includes corporate investment in what economists call public goods. Given that the history of humankind is “the story of our increasing ability to cooperate at larger and larger scales,” one would hope that in the face of environmental degradation and other threats, we might adopt the symbiotic model rather than the winner-take-all one. Problems abound, of course, including that of the “free rider,” the corporation that takes the benefits from collaborative agreements but does none of the work. Henderson examines case studies such as a large food company that emphasized environmentally responsible production and in turn built “purpose-led, sustainable living brands” and otherwise led the way in increasing shareholder value by reducing risk while building demand. The author argues that the “short-termism” that dominates corporate thinking needs to be adjusted to a longer view even though the larger problem might be better characterized as “failure of information.” Henderson closes with a set of prescriptions for bringing a more equitable economics to the personal level, one that, among other things, asks us to step outside routine—eat less meat, drive less—and become active in forcing corporations (and politicians) to be better citizens.

A readable, persuasive argument that our ways of doing business will have to change if we are to prosper—or even survive.

Pub Date: May 1, 2020

ISBN: 978-1-5417-3015-1

Page Count: 336

Publisher: PublicAffairs

Review Posted Online: Feb. 17, 2020

Kirkus Reviews Issue: March 15, 2020

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