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Title: The Mathematics of Investing : A Complete Reference by Michael C. Thomsett ISBN: 0-471-50664-8 Publisher: John Wiley & Sons Pub. Date: 29 September, 1989 Format: Hardcover Volumes: 1 List Price(USD): $49.95

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Average Customer Rating: 2 (2 reviews)

Rating: 3
Summary: What is my Rate of Return?
Comment: Mathematics of Investing is a reference guide intended to assist people in understanding how various financial calculations are made. The guide has chapters on such topics as time value of money, taxes and inflation, options trading, mutual funds, and others.

Graphs, tables, and other illustrations accompany a good number of the pages in this guide. This is helpful, I think, because it makes some of the terminology easier to understand and it makes the book a little more interesting than it would otherwise be. A book like this isn't something you would want to curl up on the couch and read for enjoyment. This is a reference guide, and anything that can help it be less boring is a plus.

Cross- references in the front of this book make it easy to look up formulas. Along with a listing of the chapters of the book, there is another table of contents that lists the pages to find a specific formula. Most people who buy this book will use it as a reference for looking up formulas, so this cross- reference in the front is helpful.

One thing that will probably make many people hesitate to purchase this book is the high price tag. The book is only 256 pages in length, so I am not sure why the cost is so much. With a price this high, many potential buyers might want to forgo buying it new and seek out a used copy instead. You can save yourself a lot of money by purchasing this book used.

Computing rates of return, investment growth, the effects of taxes and inflation, and other financial measurements takes some time and effort. With this book, a novice can gain a better understanding of how different financial computations are made. It's not a perfect book, and I did find a few typos as I thumbed through the pages. But it does provide a decent starting point to understanding investment computations.

Rating: 1
Summary: This book is a farce, full of errors and miscomceptions
Comment: This book has many errors, misconceptions, and shows a lack of understanding of the time value of money principles. Thomsett uses the erroneous sinking fund formula for annuity due problems. He thinks the internal rate of return (IRR)is a method that is inexact and requires many assumptions when in fact it is a staple of the financial community that is precise, there are no assumptions, and it is a valuable tool. He simply does not understand the internal rate of return method.

His method of calculating the rate of return of mutual funds is a erroneous cook book method, and his example of how to calculating the rate of return of a mutual fund is a factor of 10 in error.

Anyone reading this book will not learn the subject, and should be totally confused by the erroneous approach and examples provided by the book. It is amazing that any publisher would publish this book.

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