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The laws of Mediaeval Iceland provide detailed and fascinating insight into the society that produced the Icelandic sagas. Known collectively as Gragas (Greygoose), this great legal code offers a wealth of information about early European legal systems and the society of the Middle Ages. This first translation of Gragas is in two volumes.

• Sales Rank: #1629854 in Books
• Brand: Brand: University of Manitoba Press
• Published on: 2000-11-03
• Original language: English
• Number of items: 1
• Dimensions: 9.00" h x 1.40" w x 6.00" l, 1.91 pounds
• Binding: Hardcover
• 453 pages

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• Used Book in Good Condition

Review
“An amazing social document … that is the blueprint for an unprecedented social experiment. … An example of scholarship of the highest order.” (American Journal of Legal History)

About the Author

Andrew Dennis has taught English at the University of Iceland and both English and Law at the University of Canterbury, Chirstchurch, where he is at present Senior Lecturer in Law. 

Peter Foote is Professor of Old Icelandic at University College London. 

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4 of 4 people found the following review helpful.
Difficult, but a real treasure
By Jose Hanson
This second volume of the Laws of the Icelanders has now become available nearly a quarter of a century after Volume I appeared. Sadly, that first volume has now gone out print, although from taking with the publisher, I understand a new edition of Volume I will soon be ready.

Great news, because together these are tremendously important documents. They not only give wonderful insights into the medieval world, but also hold the seeds of much of English law that in turn would find its way into the quirky American legal system. If you believe legalistic thinking is a kind of insanity that often goes against common sense, you'll find lots of proof in these "Viking" laws, that seem to cover every possible worry of medieval man -- how a whale is to be divided, the punishment for composing unflattering poems, the fine for kissing someone else's wife, how murder is to be reported, and so forth. Eighty-year-olds slipping off and marrying without the permission of their kids was apparently a big enough problem that a special set of laws had to be made to cover that situation. There was one fine for a poke in the nose, another for a kick in the testicles.

Being a collection of laws, however, they're not easy reading and probably will need to be taken in small doses of a page or two at a time and thought about -- much like Donne's poetry, say. Many of the laws require some real untangling to be understood at all, while the meaning of others has likely been lost forever.

Just the same, the translators have done a super job of making the laws accessible. They've grouped them logically and provide plenty of footnotes for assistance, along with a dictionary of technical terms and a glossary with the original Icelandic vocabulary.

Obviously these are scholarly works meant for a specialized audience, but that audience should certainly extend to everyone in the legal profession and everyone with an interest in the Middle Ages, especially those who would hope to fully understand the Icelandic Sagas. Actually, anyone who likes to read should enjoy skimming these volumes. Even if you can't afford to own them yourself, you should encourage your local library to have them. They are priceless.

3 of 3 people found the following review helpful.
A treasure trove of interesting information
By Christopher R. Travers
Like all legal codes, this is not an easy read. This is made all the more difficult by the attempts to leave some of the technical vocabulary intact in the manuscript. One often has to get the sense of how everything fits together to understand a given regulation (for example, the idea that one can have meadowland rights on someone else's property). At the same time, of course, leaving this technical side intact makes the book more useful.

This being said the book is an amazing treasure-trove of information. There are sections in this volume which deal with dog bites, tame polar bears, divorce, remarriage, and torts involving interfering with a marriage. The Icelanders had some sense of something like community property though it was not evenly divided (2/3rds of the community property belonged to the husband).

Moreover the sense of legal protections for vulnerable persons was very different in this system. For example, an individual has a right to search for stolen property on the land or in the houses of others with a band of up to 30 men, none of whom are free to refuse to help, but a search area must be contiguous, so all farms in between two suspects must also be searched. This seems to help reducing abuse by inconveniencing those who are legally required to render judgement (clearing verdicts done by a panel of five neighbors). Similarly, upon getting married, a man had to pay a "bride-price" to his bride, and if they divorced, she was entitled to keep this money. This was her money and not part of the community property.

Understanding how different societies solved social problems is immensely interesting in its own right but it is also important. By looking to how other cultures looked at issues, we are better prepared to look at the problems in our own time with a new set of eyes. This can be of help in understanding the social diseases of our day.

I'd highly recommend this work.

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[M358.Ebook] Ebook Free Inspector Floyd (Supervillain of the Day), by Katie Lynn Daniels

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A string of murders leads Inspector McCormick of Scotland Yard to believe that a serial killer is loose in London. Only a few facts remain to be cleared up; such as how the murderer is getting to his victims, and how to catch him. But when their lead suspect turns out to be the harmless-but-eccentric reporter, Jeffry Floyd, an unlikely alliance is formed. Floyd reveals that the supervillains are also being picked off one at a time, and he intends to find out who is responsible. But matters are complicated when Sergeant Adams' sister comes to town. Kate Adams is nothing at all like her brother, and manages to get thoroughly mixed up in the double murder investigation, the supervillain underworld, and--unexpectedly--the life of Jeffry Floyd.

• Sales Rank: #11178339 in Books
• Published on: 2013-05-03
• Original language: English
• Number of items: 1
• Dimensions: 8.00" h x .28" w x 5.00" l, .29 pounds
• Binding: Paperback
• 124 pages

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0 of 0 people found the following review helpful.
Best installment yet
By Jordan Smith
While this book doesn't bring to bear quite as much backstory as Fire and Ashes, it more than makes up for that with humor and good mystery. Floyd's escapades in this one are particularly fun, and I was kept guessing about the outcome of the story, while I'd largely figured things out in the previous two books. A few moments had me laughing out loud.

What makes Inspector Floyd stand out, though, is the introduction of Kate Adams. What happens with her is better left unspoiled, but believe me when I say it adds a whole new dimension to the Floyd's character.

My comment on the previous two books is still in play here: I'm holding out for the promised omnibus edition for the fifth star. This series makes more sense to me when taken all at once, since I keep getting interested in the intriguing characters right when the book is ending. More, please.

0 of 0 people found the following review helpful.
Still going strong
By Aubrey Hansen
The Supervillain of the Day series is still going strong--this latest installment lives up to what I've come to expect from the series. It's a sweet, funny, and engaging romp that's worth every minute and just the perfect length to kill an afternoon or evening. Plus this installment contains some little gems that make it extra special. I'll give you some hints: A new character. And ducks. And a henchman you're actually appalled to see go. Floyd forever!

0 of 0 people found the following review helpful.
Our favorite supervillain hunter returns.
By Joel A. Parisi
Here we are, the third installment of Supervillain of the Day. This time, Floyd’s up against a serial killer.... who’s not really a serial killer.... oh, and to make things more crazy, his best friend’s sister shows up and has Floyd utterly bewildered by her actions.

Sound good? The danger is, like the last book, real. But this time it’s not Floyd’s life that’s in danger, it’s his mind....

Overall well-written and tightly paced. More typos than the one before, but again, those’ll likely be fixed in the new edition.

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Framed against the background of educational change, this book proposes to examine the relationship between curriculum change, teacher professional development, policy reform and the processes of educational change. The main aims of the book are to: . Focus on educational changes and reconstruction in transitional societies that have undergone political, economic and social change in the past two decades . Provide a forum for the dissemination of research on education reconstruction and reform in transitional societies . Disseminate ideas that enhance both the practical and theoretical aspects of educational changes in these societies . Further knowledge and understanding of emerging trends and issues in education in these societies . Reflect the realities of educational scenarios in each transitional society. The book presents an in-depth exploration of educational reconstruction in 15 transitional societies. In each chapter, the authors have provided an overview of educational processes in the country, a distillation of education change or reform, and/or reconstruction in each transitional society. Collectively, the chapters in the book have attempted to contribute to a better understanding of the educational system in respective countries by identifying the challenges and obstacles, the policy implications, the teacher professional development needs and curriculum reform efforts.

• Sales Rank: #9996538 in Books
• Brand: Brand: Sense Publishers
• Published on: 2006-06-01
• Original language: English
• Number of items: 1
• Dimensions: 9.21" h x .59" w x 6.14" l, .87 pounds
• Binding: Paperback
• 280 pages

Features

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[M979.Ebook] Ebook The Underground Is Massive: How Electronic Dance Music Conquered America, by Michaelangelo Matos

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Joining the ranks of Please Kill Me and Can’t Stop Won’t Stop comes this definitive chronicle of one of the hottest trends in popular culture—electronic dance music—from the noted authority covering the scene.

It is the sound of the millennial generation, the music “defining youth culture of the 2010s” (Rolling Stone). Rooted in American techno/house and ’90s rave culture, electronic dance music has evolved into the biggest moneymaker on the concert circuit. Music journalist Michaelangelo Matos has been covering this beat since its genesis, and in The Underground Is Massive, charts for the first time the birth and rise of this last great outlaw musical subculture.

Drawing on a vast array of resources, including hundreds of interviews and a library of rare artifacts, from rave fanzines to online mailing-list archives, Matos reveals how EDM blossomed in tandem with the nascent Internet—message boards and chat lines connected partiers from town to town. In turn, these ravers, many early technology adopters, helped spearhead the information revolution. As tech was the tool, Ecstasy—(Molly, as it’s know today) an empathic drug that heightens sensory pleasure—was the narcotic fueling this alternative movement.

Full of unique insights, lively details, entertaining stories, dozens of photos, and unforgettable misfits and stars—from early break-in parties to Skrillex and Daft Punk—The Underground Is Massive captures this fascinating trend in American pop culture history, a grassroots movement that would help define the future of music and the modern tech world we live in.

• Sales Rank: #707825 in Books
• Published on: 2015-04-28
• Released on: 2015-04-28
• Original language: English
• Number of items: 1
• Dimensions: 9.00" h x 1.37" w x 6.00" l, .0 pounds
• Binding: Hardcover
• 448 pages

From the Back Cover

What started as an underground party business—run and dominated by youths and hustlers—grew into the music business's greatest and biggest success. The Underground Is Massive is the first-ever big-picture history of the American electronic dance music underground, viewed through the lens of nineteen parties over thirty years—from the black, gay underground clubs of Chicago and Detroit's elite teen-party scene through nineties "electronica" to today's EDM-festival juggernaut, the book takes in the rise of the Internet and Burning Man, 9/11, and the collapse of the record business—and vividly charts why and how it took nearly three decades after electronic dance music became a global youth soundtrack for it to hit big in the land that birthed it.

Through unparalleled insider access to anecdotes, interviews, and history, Michaelangelo Matos demystifies how what once belonged to a devoted audience of casual partiers and diehard dancers has become America's soundtrack of choice and changed the music industry completely. Matos expertly tackles the vast diversity of EDM's musical landscape, its technologically prophetic yet illicit origins, and the path by which underground raves grew into fiercely successful music festivals. Taking in legendary artists from Frankie Knuckles to Moby as well as the biggest names in EDM—Diplo, Skrillex, Deadmau5, David Guetta, Tiësto, and Daft Punk—Matos's deep mix of sources and wide-lens overview of the culture make every chapter a page-turning revelation.

About the Author

Michaelangelo Matos writes regularly for Rolling Stone, Red Bull Music Academy Magazine, and NPR. The author of an acclaimed volume (about Prince’s Sign ‘O’ the Times) in Bloomsbury’s 33 1/3 series, he lives in Minneapolis, Minnesota.

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8 of 8 people found the following review helpful.
this will give a glimpse of what it was like.
By Chris K
United States pop culture has had a very different view of dance music than the rest of the world. Despite it's origins in this country and despite being about the same age as hip-hop, the many variants of electronic music have never really broken through to the mainstream, until recently. Now every major festival seems to have an EDM element to it even if it's not entirely dedicated to the sound. Matos takes us from the roots of the sound and the parties up to some of the most recent festivals, introducing us along the way to many of the movers, shakers and originators that got us to this point. Maybe you were at one of the parties documented, or one similar, you'll be transported back to the dancefloor. You'll hear the beat of the songs mentioned, and feel that familiar shiver up your spine remembering the first time a track really touched you. Maybe you've never been to a rave, festival or nightclub where this music lives, but heard about this counter culture, this will give a glimpse of what it was like.

4 of 4 people found the following review helpful.
Don’t let the EDM subtitle dissuade you; essential reading for 1980s/1990s techno heads
By Jason Birchmeier
I'd put off reading this book for a while because of the "EDM" subtitle, "How Electronic Dance Music Conquered America." Call me old fashioned (or simply old), but I don’t care for the Skrillex/Deadmau5 generation of music. I like my dance music spun on vinyl w/ two turntables and a mixer. I come from the Detroit/Berlin school of techno and the Chicago/New York school of house, where the DJ doesn’t jump around on stage and act like a rock star. Needless to say, the subtitle of the book alone made me tentative about reading it. I’d enjoyed one of Michaelangelo Matos’ books before, however, his 33 1/3 book about Prince’s Sign of the Times, so I thought I’d give this new book of his a chance. After all, it’s not often a book of this scope comes along. Dan Sicko’s Techno Rebels had been published back in 1999. While still required reading for Detroit techno heads, the stories in that book have since been told time and time again. Simon Reynolds’ Energy Flash (aka Generation Ecstasy) is another touchstone, but it too has gone out of date. I tried reading it again recently, and the glamorization of Ecstasy there is off-putting, not to mention the championing of sub-sub-niche genres specific to the U.K. that anyone under age 30 has probably never heard of and never will. The other touchstone book in the “techno” cannon is Last Night a DJ Saved My Life, a great book but, again, focused on the distant past and New York-centric.

Now along comes The Underground Is Massive, which spans the early Chicago/Detroit scene of the 1980s to the EDM era, wrapping up w/ Daft Punk’s Grammy win in 2014. The chapters are centered on specific events in history, generally a club, rave, or festival that ushered in a new era. The three chapters centered on Detroit – the Music Institute, November 24, 1989; Richie Hawtin’s Spastik party, August 13, 1994; and Detroit Electronic Music Festival, May 26-29, 2000 – were of particular interest to me. I was thrilled to see all the interviews that Matos drew from, particularly Rob Theakston and Joshua Glazer, two of the most bleeding-heart techno guys out there. As someone who was there (for the mid- to late ‘90s, at least), I can tell you that this is very much the true story, the Detroit part at least. Matos spoke to the right people, researched the right archives (i.e., the Hyperreal.org mailing lists were vital back in the day), and focuses on the right events. Plus, he rattles off discograpical information left and right – probably too much so for casual fans who don’t know Carl Craig from Derrick May, or Richie Hawtin from Plastikman, but on the other hand, record collectors and DJs should take notes while reading, as there's wealth of information here. The appendix of DJ mixes itself is reason enough to keep this book on your shelf for reference. In the end, these three aforementioned chapters alone prove to be essential reading for Detroit techno historians.

Of course, not everyone is into Detroit techno – precious few, in fact. As for those looking for the “EDM” angle as teased in the book’s subtitle, I suspect they may be disappointed to discover that the term doesn’t even come up until chapter 17 (page 340 of 382 in my Kindle edition), Electric Daisy Carnival, 2011. I must say, this pleased me (the glossing over of "trance" too). I’d read every page of the book to this point, and I wasn’t about to stop, so I pushed forward to the end. I’m glad I did because I understand the EDM phenomenon better now. Can’t say I’m itching to listen to Skrillex, but at least I have a better concept of why he’s as popular as he is. In any event, it was my sense that these last few chapters differ from the rest of the book. For one, the discographical minutia goes out the window. Matos breezes through post-2010 history (if it even counts as “history” yet) at a much faster clip than he does earlier in the book, and at times, there is a hint of dismissiveness. For instance, Daft Punk circa ’96 are framed as game-changing, whereas Daft Punk circa ’14 are framed with considerably less reverence. My sense was that this post-2010 part of the book wasn’t Matos’ favorite part either but rather the book publisher’s. In 2015, "EDM" is the new "electronica"; "techno" and "house" are passe, the province of old-school curmudgeons. In fairness to Matos, he uses the Introduction to pretty much say, this is my book (i.e., my subjective take on the subject matter), and if you don’t like it, write your own because I can only fit so much in this one. Hopefully others are motivated to take up the challenge because you can't please everyone w/ books like this -- too much music out there to cover in a 400-page book and tastes vary from region to region.

I enthusiastically recommend The Underground Is Massive to anyone curious about the 1980s/1990s, especially anyone interested in the Chicago, Detroit, New York, and California scenes – or the Midwest raves scene, which gets far more attention here than I’ve ever seen elsewhere. The late-'90s "electronica" era also gets a fair examination, Moby in particular. Don’t let the EDM subtitle dissuade you; this is a history book for house/techno heads. Personally, I would have liked to see more discussion of the Detroit-Berlin connection. I suppose that’s another book, though (perhaps the recent Tresor oral history that to my knowledge hasn't been translated to English yet). Selfishly, I’d like to see even more exploration of the Detroit scene, more quotes from guys like Dean Major (i.e., Syst3m), dare I say “shady” guys who were major players but never really came out from the shadows, presumably because what they were doing wasn’t entirely legal (surprise, surprise). That’s another book I’d be keen to read some day, a behind-the-scenes oral history about the most legendary rave parties described in Matos' book, from the point of view of the promoters and DJs as well as the partiers and -- now this would be cool -- the police who had to go bust up those parties every weekend. Another angle might be the How Music Got Free approach, where the story is told from the perspective of a few choice insiders, some of whom were on the wrong side of the law. The chapter about Even Further '96 is kind of like that, and it's something of a horror show on several counts, a parent's worst nightmare. As we await further books like this, The Underground Is Massive is a valuable addition to the cannon, up there w/ Techno Rebels, Last Night a DJ Saved My Life, and antiquated or not, Energy Flash. I'm already looking forward to a revised, extended edition in a few years' time. This easily could have been double the length it is, probably triple if it were to drill down deeper into the post-2010 era.

7 of 8 people found the following review helpful.
Well written EDM history!
By Aldo Bender
The most comprehensive history of EDM and it's development in America I have come across to date. This is a must read for those who want to know how these music parties started and grew into the trendy scene it is today, wonderfully resourced and timely, it can also bring a smile to the faces of those of us who lived it.

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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: #300450 in Books
• Color: White
• Published on: 1999-10-26
• Original language: English
• Number of items: 1
• Dimensions: 9.20" h x 1.90" w x 6.60" l, 2.19 pounds
• Binding: Hardcover
• 624 pages

From the Back Cover

An Innovative Approach to Portfolio Management. Blending the Most Profitable Aspects of Analytical and Quantitative.

Professional acclaim for Active Portfolio Management, 2nd edition. "Active Portfolio Management is a unique reference for understanding the source of value-added by a money manager. I am an enthusiastic supporter of the methodology used in the book, and I highly recommend it to both the professional and academic communities."

-Professor William N. Goetzmann, Director, International Center for Finance, Yale University School of Management.

"This 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.

"Active Portfolio Management, Second Edition, remains a readable yet theoretically and mathematically rigorous book that one would expect from two such distinguished authors. I heartily recommend this book to any practitioner who wants to refine his or her knowledge of state-of-the-art quantitative money management or who would like a straightforward reference to quickly answer those thorny theoretical questions that hit us now and again."

-Michael Even, Managing Director and Chief of Global Quantitative Analysis, Citibank Global Asset Management.

"A more comprehensive examination of quantitative techniques for portfolio management would be hard to find. Active Portfolio Management is an outstanding treatise on the methods and techniques of measuring performance and risk control that is both rigorous and understandable."

-Jon A. Christopherson, Research Fellow, Frank Russell Company.

About the Author

Richard C. Grinold, Ph.D., is Managing Director, Advanced Strategies and Research at Barclays Global Investors. Dr. Grinold spent 14 years at BARRA, where he served as Director of Research, Executive Vice President, and President; and 20 years on the faculty at the School of Business Administration at the University of California, Berkeley, where he served as the chairman of the finance faculty, chairman of the management science faculty, and director of the Berkeley Program in Finance.

Ronald N. Kahn, Ph.D., is Managing Director in the Advanced Active Strategies Group at Barclays Global Investors. Dr. Kahn spent 11 years at BARRA, including over seven years as Director of Research. He is on the editorial advisory board of the Journal of Portfolio Management and the Journal of Investment Consulting.

Both authors have published extensively, and are widely known in the industry for their pioneering work on risk models, portfolio optimization, and trading analysis; equity, fixed income, and international investing; and quantitative approaches to active management.

Most helpful customer reviews

45 of 49 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.

7 of 10 people found the following review helpful.
Practical approach and mathematically rigorous at the same time
By Pablo Sandler
Excellent book for whom is looking for a practical approach that at the same time is presented through a rigorous mathematical methodology. The book is absolutely superior over the academic textbooks that usually limit themselves to CAPM and efficient market theory. Grinold and Kahn go much forward and at the same time had managed to clearly and meticulously show the CAPM model, its limitations and the more sophisticated tools developed from it. Beside of showing the active way of managing a portfolio, the serious mathematical presentations through which the different theories such as CAPM are described are very convincing of how difficult it could be to beat the market.

49 of 56 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.

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• Published on: 1994
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Does economic inequality in one generation lead to inequality of opportunity in the next? In From Parents to Children, an esteemed international group of scholars investigates this question using data from ten countries with differing levels of inequality. The book compares whether and how parents' resources transmit advantage to their children at different stages of development and sheds light on the structural differences among countries that may influence intergenerational mobility.

How and why is economic mobility higher in some countries than in others? The contributors find that inequality in mobility-relevant skills emerges early in childhood in all of the countries studied. Bruce Bradbury and his coauthors focus on learning readiness among young children and show that as early as age five, large disparities in cognitive and other mobility-relevant skills develop between low- and high-income kids, particularly in the United States and the United Kingdom. Such disparities may be mitigated by investments in early childhood education, as Christelle Dumas and Arnaud Lefranc demonstrate. They find that universal pre-school education in France lessens the negative effect of low parental SES and gives low-income children a greater shot at social mobility. Katherine Magnuson, Jane Waldfogel, and Elizabeth Washbrook find that income-based gaps in cognitive achievement in the United States and the United Kingdom widen as children reach adolescence. Robert Haveman and his coauthors show that the effect of parental income on test scores increases as children age; and in both the United States and Canada, having parents with a higher income betters the chances that a child will enroll in college.

As economic inequality in the United States continues to rise, the national policy conversation will not only need to address the devastating effects of rising inequality in this generation but also the potential consequences of the decline in mobility from one generation to the next. Drawing on unparalleled international datasets, From Parents to Children provides an important first step.

• Sales Rank: #2200247 in Books
• Published on: 2012-05-01
• Original language: English
• Number of items: 1
• Dimensions: 8.90" h x 1.50" w x 6.10" l, 1.70 pounds
• Binding: Paperback
• 524 pages

About the Author

JOHN ERMISCH is professor of family demography at Oxford University.

MARKUS JäNTTI is professor of economics at the Swedish Institute for Social Research, Stockholm University.

TIMOTHY M. SMEEDING is director of the Institute for Research on Poverty, University of Wisconsin-Madison.

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