Minggu, 29 Maret 2015

[J296.Ebook] Ebook Microaggressions in Everyday Life: Race, Gender, and Sexual Orientation, by Derald Wing Sue

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Praise for Microaggressions in Everyday Life

"In a very constructive way, Dr. Sue provides time-tested psychological suggestions to make our society free of microaggressions. It is a brilliant resource and ideal teaching tool for all those who wish to alter the forces that promote pain for people."
—Melba J. T. Vasquez, PhD, ABPPPresident, American Psychological Association

"Microaggressions in Everyday Life offers an insightful, scholarly, and thought-provoking analysis of the existence of subtle, often unintentional biases, and their profound impact on members of traditionally disadvantaged groups. The concept of microaggressions is one of the most important developments in the study of intergroup relations over the past decade, and this volume is the definitive source on the topic."
—John F. Dovidio, PhD Professor of Psychology, Yale University

"Derald Wing Sue has written a must-read book for anyone who deals with diversity at any level. Microaggressions in Everyday Life will bring great rewards in understanding and awareness along with practical guides to put them to good use."
—James M. Jones, PhD Professor of Psychology and Director of Black American Studies, University of Delaware

"This is a major contribution to the multicultural discourse and to understanding the myriad ways that discrimination can be represented and its insidious effects. Accessible and well documented, it is a pleasure to read."
—Beverly Greene, PhD, ABPP Diplomate in Clinical Psychology and Professor of Psychology, St. John's University

A transformative look at covert bias, prejudice, and discrimination with hopeful solutions for their eventual dissolution

Written by bestselling author Derald Wing Sue, Microaggressions in Everyday Life: Race, Gender, and Sexual Orientation is a first-of-its-kind guide on the subject of microaggressions. This book insightfully looks at the various kinds of microaggressions and their psychological effects on both perpetrators and their targets. Thought provoking and timely, Dr. Sue suggests realistic and optimistic guidance for combating—and ending—microaggressions in our society.

  • Sales Rank: #152584 in Books
  • Published on: 2010-03-08
  • Original language: English
  • Number of items: 1
  • Dimensions: 9.30" h x 1.10" w x 6.30" l, 1.45 pounds
  • Binding: Hardcover
  • 352 pages

Review
"Sue's book, and the accompanying research, writing, and training on microaggressions, is the most important recent development in studying racism, sexism, and heterosexism. Given the comprehensiveness and importance of
Microaggressions in Everyday Life, it is hard to consider any significant weaknesses of this book. We hope that this book will be a good resource for individuals in organizational leadership, coaching, and the mental health field when engaging this discussion." (Journal of Psychological Issues in Organizational Culture, October 27, 2010)

"In his book, Dr. Sue presents the first ever analysis of the unintended slights that take their toll on the people of color, women, gay/lesbian, transgendered and other groups. Microaggressions is wrtten with an unusual combination of scholarly care, and accessibility for a lay audience a feature that owes much to Sue's own connection to his topic." (Unity First, Fall 2010)

"Microaggressions in Everyday Life is robust with science and practice. The writing is engaging and thought provoking. It is a major contribution to the multicultural field and to the larger society. The one feature that I found most helpful about the organization of the book is that each chapter ends with a section titled The Way Forward. Here, Sue provides compelling insights and interventions to help the reader with ideas regarding what can be done about the issues raised in the chapter. The Way Forward sections in Chapter 11 and 12 are replete with specific examples for educators and mental health practitioners. I found these two sections to be especially strong; if educators and practitioners begin implementing these suggestions, we will make significant strides toward shining a light on, giving a voice to, and perhaps ameliorating microaggressions." (PsycCRITIQUES, 22 September 2010)

"Derald Wing Sue, an expert on discrimination, enlightens on matters like this, in Microaggressions in Everyday Life: Race, Gender and Sexual Orientation. He is no lightweight. Sue has served on the President's Advisory Board on Race, and was president of the Society for the Psychological Study of Ethnic Minority Issues. He co-founded the Asian American Psychological Association, and is a former president of the Society of Counseling Psychology of the American Psychological Association. Sue has developed the first categorization of conscious and intentional actions, slurs and racial epithets, even as unintended slights or social cues, when dominant groups attempt to subordinate minority groups, make them uncomfortable, marginalize and inflict a mental, emotional and even physical toll. Sue claims studies indicate racial micro-aggressions have a devastating impact." (Ponte Al Dia, March 9, 2010)

Review
Winner of the Global Diversity and Inclusion Book Prize 2010 from UnityFirst.com

"In Microaggressions and Everyday Life, Dr. Sue masterfully pulls all of his life and work experiences together to frame a new theory and vision for the study of racism, sexism, and homophobia. What Dr. Sue has created will ignite research in the field of racism and multiple oppressions that will ultimately lead to marked change in the way we all deal with and respect one another. This book is that good. It will change the way you think, it will move you to act and not just witness and observe, and it will even influence how you feel toward, communicate with, and care for your own loved ones, students, and clients."
—From the Foreword by Joseph G.  Ponterotto, Ph.D., Professor, Fordham University

"This is a groundbreaking contribution and contains invaluable and powerful insights. In a very constructive way, Dr. Sue provides time-tested psychological suggestions to make our society free of microaggressions. It is a brilliant resource and ideal teaching tool for all those who wish to alter the forces that promote pain for people."
—Melba J T Vasquez, Ph.D., ABPP, President, American Psychological Association

"Microaggressions in Everyday Life offers an insightful, scholarly, and thought-provoking analysis of the existence of subtle, often unintentional biases, and their profound impact on members of traditionally disadvantaged groups. The material is solidly grounded in theory, but the implications for psychological practice and everyday life are vivid. The concept of microaggressions is one of the most important developments in the study of intergroup relations over the past decade, and this volume is the definitive source on the topic."
—John F. Dovidio, Ph.D., Professor of Psychology, Yale University

"Derald Wing Sue has written a must-read book for anyone who deals with diversity at any level. It is truly rare to find a book so scholarly, lucid and practical about the subtle ways in which good intentions are eroded by innocence and ignorance. Microaggressions in Everyday Life will bring great rewards in understanding and awareness along with practical guides to put them to good use."
—James M. Jones, Ph.D., Professor of Psychology and Director of Black American Studies University of Delaware

"This is a major contribution to the multicultural discourse and to understanding the myriad ways that discrimination can be represented and its insidious effects. Accessible and well documented, it is a pleasure to read and makes a welcome addition to those readings considered essential to culturally competent practice."
—Beverly Greene, Ph.D., ABPP, Diplomate in Clinical Psychology and Professor of Psychology St. John's University Jamaica, New York

About the Author
Derald Wing Sue, PhD, is a Professor of Psychology and Education in the Department of Counseling and Clinical Psychology at Teachers College, Columbia University, and he also holds a joint appointment with the School of Social Work. Coauthor of the bestselling Counseling the Culturally Diverse, Fifth Edition, he is one of the most cited multicultural scholars in the United States.

Most helpful customer reviews

0 of 0 people found the following review helpful.
Five Stars
By patricia jones
great book brings out some significant points

0 of 1 people found the following review helpful.
Enormous point of view in the world of diversity. ...
By Eman
Enormous point of view in the world of diversity. Sue write in a commanding voice and introduces his own concepts and the emerging zeitgeist of multiculturalism in a very personal and compelling manner.

4 of 6 people found the following review helpful.
Very clearly articulates the experience of people of color and ...
By M.A. Martin
Very clearly articulates the experience of people of color and women, both of which groups I belong to, in the U.S. workplace and U.S. society in general. All the little statements and actions that Americans privileged by white skin and/or male gender inflict on those different from them unthinkingly, automatically, and unselfconsciously. Dr. Sue validates those experiences by acknowledging their existence, the prejudice that underlies them, and the addition of insult to injury by the perpetrators' denial of the offense they have committed once confronted with it. As important as it is for people of color and women of all colors to read this, it is most important for white Americans - and men in general - to read this and similar works to gain awareness of the prejudices they unconsciously hold - no matter how liberal they may think they are, by virtue of their position and privilege in a racially stratified, male dominated society.

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Jumat, 20 Maret 2015

[D573.Ebook] Free Ebook Small Business Start-Up Kit for California, by Peri H. Pakroo J.D.

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Small Business Start-Up Kit for California, by Peri H. Pakroo J.D.

The best step-by-step guide to starting a business in California!

If you dream of starting a business, but fear that, without an MBA, you'll get lost in the maze of government red tape here's the handbook you need.

The Small Business Start-Up Kit for California outlines how to set up your enterprise in the Golden State quickly and easily, pointing out the hurdles, fees and forms along the way. Clear and straight to the point, the book explains how to:

  • choose the best business structure
  • write an effective business plan
  • file the right forms in the right place
  • price, bid and bill your projects
  • draft and use contracts, online and off
  • manage your finances
  • be prepared for, and file, required taxes
  • reach customers online
  • and much more

    The 7th edition is completely updated, and includes new chapters on e-business and doing business from home. It also covers the latest California-specific business information, including sales tax rates by county, registration forms and fees. Updated forms and business-planning spreadsheets are included on CD-ROM.

    • Sales Rank: #3861783 in Books
    • Brand: Brand: NOLO
    • Published on: 2008-03-01
    • Original language: English
    • Number of items: 2
    • Dimensions: 11.00" h x 1.00" w x 8.50" l, 2.08 pounds
    • Binding: Paperback
    • 350 pages
    Features
    • Used Book in Good Condition

    Review
    An excellent resource for beginners... written specifically for entrepreneurs who want to start their own business in California. (StartupJournal.com 20090101)

    The perfect one-stop publication for any group or individual that wants to start a business. (Los Angeles Chamber of Commerce 20090101)

    Excellent advice... for would-be small-business owners, and heeding it can help you avoid many early mistakes. (Los Angeles Times 20090101)

    Provides step-by-step instructions for setting up a small business in California and guiding it safely through its first year and beyond. (Reference & Research Book News 20090101)

    The Small Business Start-Up Kit for California puts all the California-specific information you need to begin your business -- right at you fingertips. (San Francisco Chamber of Commerce 20090101)

    A good-to-have, step-by-step guide to starting a business in California: Forms, licenses, business plan, taxes and more. (San Francisco Examiner 20090101)

    From the Publisher
    Updates
    Here are summaries of important legal or procedural changes that affect the latest edition of this product. If you want to check on the accuracy of any other information in the book, please follow the legal research instructions in the book or in Nolo's research manual, Legal Research: How to Find and Understand the Law.

    What's New in the 7th Edition of Small Business Start-Up Kit for CA

    Overview of What's New

    The new edition is revised and updated to include the latest business, legal, and financial information, including:

    A new chapter focusing on marketing and promoting your business inexpensively.
    A new section that explains the basics of search engines in electronic commerce. This section helps readers decide whether search engine optimization is important for their business and offers sensible strategies for improving search engine results.
    New material about hiring and managing employees, including discussing the importance of carefully defining positions and writing job descriptions before beginning the hiring process, and establishing periodic and regular review processes.

    Chapters Most Affected

    Chapter 12 is an entirely new chapter on marketing, which includes discussions about defining a businesses market, conducting market research, and cost-effective marketing tools, such as networking and community relations.

    Chapter 13 discusses how to drive more traffic to a businesses website by using search engine optimization (often called SEO), inbound links, keywords, and other methods.

    Chapter 15 includes a new section about hiring and managing staff, including discussions about the importance of creating job descriptions, job reviews, and employee handbooks.

    Appendix A (a comprehensive list of resources and contact information for government and small business agencies) has been thoroughly updated.

    Forms That Have Changed The following forms are updated:

    IRS Form SS-4
    IRS Instructions for Form SS-4
    IRS Form 8716
    IRS Form SS-8
    IRS Form 8832

    About the Author
    Peri Pakroo is a business and communications consultant, specializing in legal and start-up issues for businesses and nonprofits. She has started, participated in, and consulted with start-up businesses for 20 years. She owns and runs P-Brain Media (www.pbrainmedia.com), a strategic consulting and communications firm that develops information-rich media for web, print, video and other formats. Peri received her law degree from the University of New Mexico School of Law. She is the author of The Women's Small Business Start-Up Kit, The Small Business Start-Up Kit (national and California editions) and Starting and Building a Nonprofit ( all from Nolo), and has been featured in numerous national publications including Entrepreneur, Real Simple, Investors Business Daily, and BusinessWeek. She is active in supporting local, independent businesses and is a co-founder of the Albuquerque Independent Business Alliance. Visit Peri's blog at www.peripakroo.com.

    Most helpful customer reviews

    1 of 1 people found the following review helpful.
    Good Quick Overview of Starting a Business in California
    By Mark Cordell Robinson
    I bought this when I was starting a sole prop in California. It was very helpful. It's written in an easy to read style, and is very straight forward. It does give you a good general overview of starting a company and filled in certain holes for me. When it comes down to it, you'll want to rely on the state/county/city websites for specific information, but this book gives you a good idea of what to look for, where to find it, and how to understand what it means to you and your business.

    If you're a freelancer/independent contractor, there is a lot of overlap between what you get out of this book and Nolo's "Working for Yourself: Law & Taxes for Independent Contractors" book. If you are choosing between the two, I would say go with the "Working for Yourself" book because you can always find the specific state regulations/info on their websites, and the "Working for Yourself" book digs in deeper to the things that will affect you as an independent.

    1 of 1 people found the following review helpful.
    great, solid book
    By Matthew D. Lindgren
    I had very good luck starting my business two years ago with this book as well as another from Nolo, How To Form A California Professional Corporation. The author breaks down every decision you need to make, and step to take, in clear language with a lot of good resources.

    I probably had one of the more complicated small business beginnings because I chose to incorporate, and because my profession requires I do so as an S-corp "professional corporation". This book doesn't go much into detail about the professional corporations, but it does a fine job describing different business structures, as well as their benefits and disadvantages.

    I didn't have a lot of money to pay attorneys to help me do this, but I did have the time to run around to all the different state and local offices, so this was a great choice for me.

    As a word of advice, at the time I opened my business, Chase (then Wamu) had a great deal for business checking accounts. It turns out that most banks really take advantage of businesses and charge you all kinds of fees, but at least when I signed up, Chase didn't. I don't know if that's still true, but I'd definitely check in with them and see.

    Good luck with your business. I hope this book helps!

    0 of 0 people found the following review helpful.
    Good research book if you are thinking about starting a business
    By Lauren
    This book is excellent for my application and I would strongly recommend it to anyone with similar requirements. I am only in the planning stages of starting my own cottage-industry craft home business and found this book in my research. Thus far, this book has helped me to make sure that I am thinking of the big picture in starting this venture. I have decided to do more in depth research in corporations and the legalities of having a home-based company in my city. This book is perfect for getting a big picture, but because I have not actually started up my business yet, I cannot comment on if the book is comprehensive.

    See all 35 customer reviews...

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    Kamis, 19 Maret 2015

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    Since the development of the Black-Scholes model, research on equity derivatives has evolved rapidly to the point where it is now difficult to cut through the myriad of literature to find relevant material. Written by a quant with many years of experience in the field this book provides an up-to-date account of equity and equity-hybrid (equity-rates, equity-credit, equity-foreign exchange) derivatives modeling from a practitioner's perspective. The content reflects the requirements of practitioners in financial institutions: Quants will find a survey of state-of-the-art models and guidance on how to efficiently implement them with regards to market data representation, calibration, and sensitivity computation. Traders and structurers will learn about structured products, selection of the most appropriate models, as well as efficient hedging methods while risk managers will better understand market, credit, and model risk and find valuable information on advanced correlation concepts. Equity Derivatives and Hybrids provides exhaustive coverage of both market standard and new approaches, including: -Empirical properties of stock returns including autocorrelation and jumps -Dividend discount models -Non-Markovian and discrete-time volatility processes -Correlation skew modeling via copula as well as local and stochastic correlation factors -Hybrid modeling covering local and stochastic processes for interest rate, hazard rate, and volatility as well as closed form solutions -Credit, debt, and funding valuation adjustment (CVA, DVA, FVA) -Monte Carlo techniques for sensitivities including algorithmic differentiation, path recycling, as well as multilevel. Written in a highly accessible manner with examples, applications, research, and ideas throughout, this book provides a valuable resource for quantitative-minded practitioners and researchers.

    • Sales Rank: #4816549 in Books
    • Brand: Oliver Brockhaus
    • Published on: 2016-01-05
    • Released on: 2015-12-29
    • Original language: English
    • Number of items: 1
    • Dimensions: 9.21" h x .69" w x 6.14" l, .0 pounds
    • Binding: Hardcover
    • 287 pages
    Features
    • Equity Derivatives and Hybrids Markets Models and Methods Applied Quantitative Finance

    Review

    'This deep, on-the-money account of equity derivatives and hybrids will appeal to finance professionals and finance professors alike.'

    -Peter Carr, PhD, Managing Director, Market Modeling, Morgan Stanley; Executive Director, Masters in Math Finance, NYU Courant Institute

    "Oliver Brockhaus is to be commended for his thoughtfully curated compendium of key results for equity and hybrid quants. The choice of topics bears the mark of the author's experience as a professional quant, including for example a sophisticated treatment of dividend modeling techniques and clear explanations of CVA, DVA, and FVA. Both students and practitioners will find this book invaluable.'

    -Jim Gatheral, Presidential Professor, Baruch College, CUNY; author of The Volatility Surface

    'Oliver Brockhaus is a long established and recognized authority on financial mathematics and derivatives pricing models, and his expertise is abundantly visible in this book. The presentation is clear, the subject matter highly relevant, and the coverage is comprehensive yet focused. In summary: an excellent addition to any practitioner's library for both graduates at entry level as well as senior professionals more interested in advanced aspects of financial engineering.'

    -Peter Jäckel, PhD, Deputy Head of Quantitative Research, VTB Capital; Managing Director, OTC Analytics

    About the Author
    Oliver Brockhaus is Senior Vice-President at MathFinance AG, an independent consulting company. He has 15 years of experience as front office quantitative analyst. Past positions include Head of European Equity Quantitative Analytics at Royal Bank of Scotland, Head of Equity Financial Engineering at Commerzbank, Credit Quantitative Analyst at Calyon and Hypovereinsbank, as well as Equity Quant at JP Morgan and Deutsche Bank. Brockhaus has been responsible for developing state-of-the-art pricing models and risk management tools for front office trading operations across a number of areas, including equity and credit derivatives, commodities, life insurance, and hybrid products. His academic interests range from stochastic volatility and correlation to dividend and hybrid derivatives modeling.

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    Selasa, 10 Maret 2015

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    • Published on: 2007-04-16
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    • Sales Rank: #611982 in Books
    • Published on: 2007
    • Binding: Hardcover

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    • Sales Rank: #5634184 in Books
    • Published on: 2003-06
    • Original language: English
    • Number of items: 1
    • Binding: Paperback
    • 774 pages

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    There’s a new buzz phrase in the air: Supplier Relationship Management (SRM). Corporate executives know it’s necessary, but there’s only one problem. Nobody yet knows how to do it. Or they think it’s all about bashing your vendors over the head until they reduce the price another 4%. Supplier Relationship Management: How to Maximize Vendor Value and Opportunity changes all that.

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    • Sales Rank: #671579 in Books
    • Published on: 2014-06-18
    • Released on: 2014-06-14
    • Original language: English
    • Number of items: 1
    • Dimensions: 9.00" h x .44" w x 6.00" l,
    • Binding: Paperback
    • 192 pages

    About the Author
    Stephen Easton leads the A.T. Kearney procurement team in the UK, and he is based in London. He joined A.T Kearney 14 years ago, focusing on working with clients to improve the effectiveness of their external procurement activity. He has supported a number of both private and public sector clients to achieve significant and sustained financial results. Stephen has an MBA from Cornell University and a first degree in Politics, Philosophy, and Economics from the University of Oxford. He lives in Surrey, southwest of London.

    Mike D. Hales is senior partner with AT Kearney based in Chicago and with over 35 years of industry and consulting experience working extensively in North America, South America, Europe, and Asia Pacific. His global cross-industry experience covers all aspects of operations (innovation, supply management, manufacturing, logistics), support services, sales channel, customer experience, and merger integration. He has a special focus on expanding the impact of procurement from sourcing to supplier relationship management. He has contributed to over 20 articles on procurement, innovation, customer experience, and channel strategy. He serves on the Corporate Steering Committee for The Chicago Council on Global Affairs (for 10 years). He is co-author of the Global City Index, which periodically ranks 66 cities (since 2008). Mike is also on the Board of Trustees for the Institute of Supply Management's Center for Strategic Supply Leadership. Mike holds a B.S. degree with honors in business from the University of North Carolina at Chapel Hill, and a Masters in Management degree with honors from the Kellogg Graduate School of Management at Northwestern University. He has passed the exams for the Illinois Public Accountancy and American Production and Inventory Control Society.

    Christian Schuh is the leader of A.T. Kearney's Supply Management Practice in EMEA and is based in Vienna, Austria. He joined A.T. Kearney 17 years ago and has since then led multiple projects for clients in the automotive, construction equipment, defense, high tech, packaging, and steel industry in Austria, China, France, Germany, Russia, the UK, Ukraine, and the USA. His areas of expertise include strategic sourcing, high-end R&D, and organization. He is the author of various books (most notably The Purchasing Chessboard), monographs, and articles. Before he joined A.T. Kearney, he worked several years for Unilever. Schuh studied aeronautical engineering at TU Graz (Austria) and holds a doctorate in business administration. He lives in the historic city center of Vienna.

    Michael F. Strohmer is a member of A.T. Kearney's Operations Practice and leader of the European raw material competence team. He is based in Vienna, Austria. In his 11 years with the firm, he has led projects at a broad range of international clients, mainly in post-merger situations. His work encompasses the utilities sector, automotive, defense, consumer goods, packaging, and steel. He is an expert on raw material strategies, procurement transformation, post-merger management, and large-scale CAPEX projects. He has published several books (including The Purchasing Chessboard) and articles, and is a frequent speaker at international conferences. Strohmer holds a doctorate in business administration and law. He lives in Austria's picturesque lake region near Salzburg.

    Alenka Triplat is a member of A.T. Kearney's Operations Practice. In ten years with the firm in Vienna, Austria, she has led multiple projects on supply management topics across various industries, such as discrete manufacturing (consumer electronics, food consumer products, and heavy equipment), process industries (steel, gas, cables, packaging), and financial institutions (commercial banks and insurances). She has worked with international clients based in most European countries and spent longer periods of time working and living in the USA, China, and Taiwan. She is an expert in wide range of supply management topics (sourcing strategies using the Purchasing Chessboard, negotiation techniques, procurement transformation) as well as cross-functional collaboration and manufacturing excellence. She also published multiple articles on these topics. Alenka Triplat studied economics at the University of Ljubljana (Slovenia) and business administration at Vienna University of Economics and Business Administration (Austria). She currently shuttles between Shanghai, Vienna, and Ljubljana.

    Most helpful customer reviews

    1 of 2 people found the following review helpful.
    OK - but nothing more....
    By CPO at Consumer Goods
    I admit that after "Purchasing Chessboard", it was challenging to write another book which exceeds the level and depth of it. After reading it, my previous thought was: "Again, another book on SRM!". Well, after reading it, it was not that bad - however, nothing like "Purchasing Chessboard" which has been written by the same authors. This book is OK.

    See all 1 customer reviews...

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    Selasa, 10 Februari 2015

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    Most helpful customer reviews

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    Sabtu, 07 Februari 2015

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    Private Equity Operational Due Diligence, + Website: Tools to Evaluate Liquidity, Valuation, and Documentation, by Jason A. Scharfman

    A step-by-step guide to develop a flexible comprehensive operational due diligence program for private equity and real estate funds

    Addressing the unique aspects and challenges associated with performing operational due diligence review of both private equity and real estate asset classes, this essential guide provides readers with the tools to develop a flexible comprehensive operational due diligence program for private equity and real estate. It includes techniques for analyzing fund legal documents and financial statements, as well as methods for evaluating operational risks concerning valuation methodologies, pricing documentation and illiquidity concerns.

    • Covers topics including fund legal documents and financial statement analysis techniques
    • Includes case studies in operational fraud
    • Companion website includes sample checklists, templates, spreadsheets, and links to laws and regulations referenced in the book
    • Equips investors with the tools to evaluate liquidity, valuation, and documentation
    • Also by Jason Scharfman: Hedge Fund Operational Due Diligence: Understanding the Risks

    Filled with case studies, this book is required reading for private equity and real estate investors, as well as fund managers and service providers, for performing due diligence on the noninvestment risks associated with private equity and real estate funds.

    • Sales Rank: #669157 in Books
    • Published on: 2012-04-10
    • Original language: English
    • Number of items: 1
    • Dimensions: 9.30" h x 1.40" w x 6.35" l, 1.30 pounds
    • Binding: Hardcover
    • 400 pages

    Review
    "An interactive guide for investors that explains what they should be looking for from private equity funds before they invest." (Opalesque, September 3, 2012)

    From the Inside Flap

    Private Equity Operational Due Diligence: Tools to Evaluate Liquidity, Valuation, and Documentation

    Though not as prevalent as hedge funds, lucrative private equity and real estate funds handle billions of dollars versus hedge funds' millions. Because of the vast amount of money invested in these funds, it is imperative that investors perform operational due diligence. Written to persuade Limited Partners once and for all of the benefits of performing and maintaining a robust operational due diligence program, Private Equity Operational Due Diligence arms you with the tools to develop detailed, agile, comprehensive, and ongoing operational due diligence reviews.

    Addressing the unique aspects and challenges associated with private funds, author Jason Scharfman shares his decades of experience performing due diligence on the non-investment (i.e., operational or business) risks associated with private equity and real estate funds. Beginning with a brief history of operational risk coupled with the unique aspects of operational due diligence on private equity funds, Private Equity Operational Due Diligence analyzes the approaches to valuation, legal, and financial statement risks. User-friendly flag icons throughout the text highlight key operational risk areas and deficiencies that have historically tended to signal larger problems.

    In this step-by-step guide, you'll discover:

    • Operational risk compared to operational due diligence

    • Understanding the goals of the operational due diligence process

    • Designing an operational due diligence program for private equity

    • Key risk consideration areas

    • Cash management and controls

    • Business continuity and disaster recovery

    • Valuation committee review scope

    • Operational due diligence specialists versus generalists

    • Trends in indemnification and exculpation clauses

    • Fraud considerations: mortgage fraud and straw man borrowers

    • Evolution of Minimum Operational Risk Regime (MORR)

    • Ongoing fund monitoring techniques

    • Private equity fund advisory boards

    • Different types of advisory boards: Limited Partners versus Pure Advisors

    • Case studies and scenarios

    • Trends and future developments

    • Use of third-party administrators

    • Impact of Dodd-Frank on operational due diligence

    A companion website includes sample checklists and templates to assist with the techniques outlined in the book, including spreadsheets for financial statement analysis and legal document analysis, as well as links to various laws and regulations.

    It's time to give operational due diligence its due respect with Private Equity Operational Due Diligence.

    From the Back Cover

    Praise For Private Equity Operational Due Diligence: Tools to Evaluate Liquidity, Valuation, and Documentation

    "Scharfman provides helpful insight into this emerging area of private equity risk. His guide offers Limited Partners the potential to efficiently identify and evaluate private equity operational issues and avoid unnecessary risk. Similarly, it offers General Partners guidance as to best practices in light of institutional investors' increasing demand for institutional-quality infrastructure and enhanced transparency."
    —Francis X. Frecentese, Managing Director, Global Head of Alternative Investments, Citi Private Bank

    "When it comes to private equity investing, operational risk has for too long been one of the most important, yet least understood, risk areas. This book is an excellent wake-up call to both Limited Partners and General Partners to bridge this gap. Scharfman does an excellent job of pulling the curtain back to explain the nuts and bolts of the back office procedures involved with actually establishing and running a private equity fund. By following the techniques outlined in this book, Limited Partners will be able to recognize and avoid key operations red flags during the due diligence process."
    —Kevin Chen, Chief Investment Officer, Anji Capital Management

    Private Equity Operational Due Diligence broadens the discussion surrounding operational risk assessment in private equity funds beyond the mere notions of "pass" or "fail" and fosters an increased discussion about the rights of Limited Partners to perform comprehensive operational due diligence reviews.

    Here you'll discover:

    • Legal documents and financial statement analysis techniques

    • Case studies in operational fraud

    • Methods to evaluate valuation, pricing documentation and risks, and illiquidity concerns

    • The operational differences between private equity and real estate funds

    • Private equity frauds throughout history

    • A review of the key considerations when reviewing real estate funds

    • Incorporating the results of operational due diligence reviews into the asset allocation process

    • Ongoing operational monitoring techniques

    • Monitoring role of advisory boards

    A companion website includes sample checklists and templates, spreadsheets, and links to the laws and regulations.

    Most helpful customer reviews

    6 of 7 people found the following review helpful.
    I have been very disappointed in this book
    By Robert R. Webster
    I have been very disappointed in this book. I don't understand why it took nearly one hundred pages to (1) give a basic understanding of what operational DD is and (2) why it's important. Given it's subtitle, "Tools to Evaluate Liquidity, Valuation and Documentation", it should have moved quickly to that. One gets the sense that the book's purpose is to sell the services of Corgentum Consulting, which of course performs operational DD on private equity funds. In short, enough in the book to (1) justify the need for operational DD and (2) tease the reader on CG's ability. This is obviously not the first time that someone has written a book to pitch their services, but it was not what I was expecting. If one is going to buy and read it, I recommend skipping most of the first 90 some odd pages to get to the meat of the book.

    5 of 6 people found the following review helpful.
    Absolutely Essential
    By Pat Huddleston, II
    As an expert in fraud investigations, I am anxious to read what others are saying about how to protect investors from the ever present threat of fraud, recklessness, and negligence. Far too often I read repetitions of the age old axiom "If it sounds too good to be true, it probably is," which has proven so ineffective at stopping the scrambling of retirement nest eggs, college endowments, and pension funds. Jason A. Scharfman's Private Equity Operational Due Diligence is different and, for those wise enough to read it, can make a difference between investment success and professional ruin. I enjoyed his observations on why many operational due diligence investigations stop short of a thorough investigation and his answers to the commonly proffered objections to performing a truly thorough investigation. Likewise, his thoughts on effective interview techniques and proper question design are spot on. As a practicing attorney and former SEC Enforcement Attorney, I enjoyed Jason's explanation of how properly to assess a private placement memorandum. That discussion alone stands a good chance of saving fortunes. While his careful assessment of the relevant accounting and mathematical concepts that come into play were over my head, I expect that they hold great wisdom for those trained to understand them. Any investor, investment adviser, or due diligence expert who moves forward with a private equity investment without first reading this book is leaving powerful ammunition unfired. Here is a tool that can help you succeed. Please read it.

    Pat Huddleston
    Author of The Vigilant Investor[
    [ASIN:0814417507 The Vigilant Investor: A Former SEC Enforcer Reveals How to Fraud-Proof Your Investments]]

    5 of 5 people found the following review helpful.
    Solid overview of a General Partners operations
    By J. Williams
    It seems as if after Madoff, investors may have taken for granted that General Partners knew
    what they were doing about operations. Scharfman outlines both how not all General Partners
    have best operational practices. While only a handful of private equity funds may be frauds
    investors still have to evaluate the quality of fund operations. This book outlines some key
    considerations to perform due diligence on including back office trade operations, and service
    providers. I also thought the guidance on valuation approaches was very helpful. A good read.

    See all 6 customer reviews...

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