Tag Archives: Barron’s

False Profits

Too Good to Be True: The Rise and Fall of Bernie Madoff by Erin Arvedlund (Penguin Group; $16.00; 336 pages)

In this book, financial journalist and first-time author Erin Arvedlund systematically maps out the intricate network of relationships within the Bernard Madoff investment fiasco.   Arvedlund expended a considerable amount of time and energy in developing this book.   She realized that Madoff was full of double talk and could not be delivering the consistent returns to his investors that they thought they were earning when she interviewed him for Barron’s magazine in 2001.   The interview resulted in an article entitled, “Don’t Ask, Don’t Tell.”   In response to Arvedlund’s questions, Madoff was typically evasive; he was off-putting when she asked him how his system for investing worked.

The fact that an immense Ponzi scheme was carried out by Madoff through his near-secret advisory activities escaped all but a few of the most Wall Street-savvy auditors.   This secrecy was coupled with the attitudes of his elitist-minded millionaires – there were enough greedy and willing people to feed the pyramid and maintain its immense demand for money over several years – and how many is anyone’s guess.

This reader sends kudos to Arvedlund for her calm, balanced and well-written narrative.   It delivers facts, figures and helpful insight.   Well recommended.

This review was written by Ruta Arellano.   Reprinted courtesy of Sacramento Book Review.   Note:  This trade paperback version contains a new chapter that updates events since the date of the original hardcover release.

Advertisements

1 Comment

Filed under Uncategorized

Seoulful

Korean at a Glance: Phrases Book & Dictionary for Travelers (Second Edition) by Daniel Holt and Grace Massey Holt

Let’s suppose you’ve been called to do some business in South Korea, a country you’ve never visited before.   As an “accidental tourist”, Korean at a Glance is just the guidebook you’ll need!

This is, first, a phrasebook that shows how to pronounce useful words and phrases in Korean.   It also shows what these phrases look like in writing.   Just as importantly, this book is divided into twenty-six sections such as Food and Drink, Shopping, Communications, and Driving a Car.   These will help you to do as the Koreans do during your visit to Seoul and elsewhere.   Most impressive are the colored maps of Central Seoul and the Seoul Metropolitan Subway system that are found inside the front and back covers.   Also, this little guidebook comes in a nice plastic cover to help prevent it from getting dirty or damaged during your sojourn.

Kudos to Daniel Holt and Grace Massey Holt of Sacramento (friends of this reviewer) for doing such a great job of updating this guide that was first released in 1988.

Kimchi to all!

Barron’s, $8.99, 338

Reprinted courtesy of Sacramento Book Review.

1 Comment

Filed under Uncategorized

I, Me, Mine

Hitman: Forty Years of Making Music, Topping Charts & Winning Grammys by David Foster with Pablo F. Fenjves

“If you’re gonna go wrong, go wrong big.”   David Foster

Foster certainly lives up – or down – to his statement in this book which might have been subtitled Musings of a Megalomaniac.   Yes, this one is all about record producer David Foster who makes millions but doesn’t get enough respect in the music trade.   So he makes sure to drop names everywhere (Barbara and Marvin Davis often invited him to parties at their 25,000 square foot mansion) and to tell us essential facts, such as that he lives on 16-acres of prime land in Malibu in a home with 19 bathrooms.   Oh, every now and then he feigns modesty such as when he spoke to a college’s music students and “somehow (managed) to let slip the fact that I’d won fourteen Grammys.”   Charming.

I thought this would be a fascinating behind the scenes in the music business account, perhaps something like Geoff Emerick’s Here, There and Everywhere: My Life Recording the Beatles.   Sadly, no it’s not.   It’s a book in which Foster praises the musicians who consented to work with him and disses the ones who did not.   The latter group includes the likes of Paul McCartney, Sting, Neil Young and Frank Sinatra.  

There’s also more than a dose of whining:  “I haven’t always been embraced by the upper echelons of the critical elite – they call it ‘wallpaper music’ or ‘elevator music’ or worse…  Who I am is a guy who writes music that people make babies to – and I’m not going to apologize for it.”   Fine, but he has some quirky opinions about what constitutes the best in music.   He calls Celine Dion “the best singer on the planet.”   OK, although not everyone would concur.

Now, ready for this?   He says of Kenny G, “He’s a hell of a musician.”   Kenny G?   What’s likely the strangest statement in Hitman is this one about Michael Bolton, “The man is one of the greatest vocalists of all time.”   Michael Bolton?   Seriously?   Once I read this I began to wonder if this entire book was a put-on, but apparently Foster’s being honest in his own way.   Maybe…   It certainly clears up the mystery as to why Foster’s had his run-ins, as detailed in Hitman, with Clive Davis – The Man with the Golden Ear.

Foster makes sure to express his self-pride at being a musician who, uniquely, has never used drugs.   Great, but this does not stop him from talking trash and frequently dropping the “f” word around as in the phrase “f—-d up.”   He also lets us know that he’s quite attractive which is why he tells us which one of his five daughters looks most like him.   Right, she’s the most attractive one.

Good is the enemy of great.   Paul Anka

Hitman is neither great nor good.   On a scale of 1 to 5 musical notes, I give it 1 note.   I’m feeling charitable today.

This book was loaned to the reviewer by Daniel D. Holt, co-author of Korean At A Glance from Barron’s.

1 Comment

Filed under Uncategorized