Readable account of the Orange County financial blow-up. Particularly interesting is the description of Robert Citron, the hapless college dropout who controlled billions of dollars of public money. Also fascinating are the prescient comments of the obscure accountant who ran against unbeatable Citron in the election prior to the disaster. Jorion manages to educate the reader, in a very painless way, about the institutions of the bond market (such as repos).

On the minus side, the book is not particularly well documented (in terms of, for example, the graphs and the sources of the data) and some chapters seem suspiciously like lecture notes, hastily adapted to a book format. Still, an enjoyable trip to the dark side of financial market.

This book tells the story of a 1.4 billion$ financial loss by the Orange County municipality.
The author explains very clearly what happened.
The municipality, through its treasurer, speculated that interest rates would stay the same or fall. Into the bargain, he leveraged his position with a factor 3. The means for the speculation were repos on bonds.

When the interest rates went through the roof (from 5,25% to 8% = + 52%), the value of the collateral (the bonds) for his position fell (with a factor 3). He got a margin call, but couldn't pay it. The biggest part of the investment (held by FBCS) was liquidated with a phenomenal loss. Only Merrill Lynch didn't cover their position.

The author gives excellent explanations on some very specialized investments like reverse floaters and other high tech financial operations of which the value can only calculated by partial integrals.

Food for investment bankers.

Jorion should be commended for his insightful, first-class treatment of this history making event. Big Bets... is a fast, fluid read that is devoid of technical terms and is written in an active, conversational and explanatory voice that the typical layman can readily understand. In this book, which reads more like gripping fiction, we are treated to an excellent character sketch of the key culprit in the Orange county financial fiasco, Robert L. Citron, his rise to power, the environment he worked in, the exotic financial tools he carelessly wielded, an unforgettable cast of financial hucksters and ill-advised power wielding greedy misfits, and the ultimate downfall of the Orange county financial safety net and its after-effects.

From this book, we learn that Robert L. Citron was head of a large portfolio, had no oversight, and an inflated ego. His superiors and fellow investment participants (such as the county school district) knew full well what he was doing, but allowed him to continue unsupervised because of his past stellar performance- much of which was due to pure luck and favorable market conditions. We also learn that Citron, much like Nicholas Leeson, the orchestrator of the fall of Barings, was a financial neophyte. While on the one hand believing that he was fully invested in bonds, Citron had taken a heavily leveraged position in very exotic derivative securities, proving to Jorion's point that he really did not have a clue as to what he was doing.

We also learn that Citron (nor the people above him and his investment participants), who had no real background in finance, did not know the difference between market price and face value, nor did he know the difference between an option on an asset and the outright ownership of an asset. Based on one very bad bet on the movement of interest rates, Citron fully invested Orange County's finances in derivative securities that he did not understand at all, and compounded the problem by leveraging his position (basically using a little money to borrow a lot of money) to the extreme.

After reading this book, those of us who believe that our investments, from the retirement funds managed for us by fund advisors and our places of work to our bank accounts and our kids' education funds, are safe should have our heads examined. People such as Citron were not financial gurus, that is certain, but as the more recent derivative led failures at hedge fund Long Term Capital Management (which included the two Nobel laureates who literally wrote the book on derivative pricing on its stellar team of rocket scientists) and Bank of America demonstrate, no one is truly safe.

I would like to know where the book tells about Chubby's other family living in Georgia and Florida. He had a wife before Rossy and she was no stupid farmgirl. He also had a daughter that loved her father more than anything. Where in the book does it talk about them. It does not say a single word because of one women could not stand to have anything to do with his other family. If women would leave married men alone (this goes both ways), maybe the right family would be in the book. The picture of Chubby's step-grandson is a slap in the face to my husband. He is the bloodline of Chubby Wise. I feel my husband's family deserves a right to tell the unknown years of what really happened and how Rossy became Mrs. Wise. I enjoy knowing Chubby was my husband's grandfather, but on the other hand, I get really upset when I hear how much pain and greif was caused by this piece of history.

I am proud to know that Ervin has finally been recognized for his raw genious in playing the fiddle, composing music, performing for us when I was growing up, and telling about many of the episodes written about in the Orange Blossom Boys. Rany Noles did his research and answered questions which needed to be made known about the life of Ervin, Gordon, his siblings and the joy they brought to many as they sang and made music with the best of Artist, including Johnny Cash. I learned more than we ever knew, as I sat, spellbound, reading the book. Now, I can say I have read the book through and through several times. It is wonderful. I was born April 28,1929 and was privileged to record the Rouse's music when they visited my home. It is my hope that a Documentary will be forthcoming. Ervin ranks right up there with Bill Monroe, The Carter Family, Flatt and Scruggs,Doc Watson, Roy Acuff, etc. He is an Icon in Blue Grass, and respected by the best of them in the business. The Orange Blossom Special is likened to The Star Spangled Banner by me and my relatives. Audrey W. Hartsoe, 24 Scott Place, Clinton, N.
C.28328 PS I did speak with Randy Noles upon receipt of the book; it is wonderful!

What a wonderful job Mr. Noles does in telling the story and interweaving the lives of these two unfortunate souls against a backdrop of old Florida. He is able to convert his massive research into such an interesting read; I had difficulty putting it down!

If you have grown Atlantic Giants you can find yourself in this book, and if you haven't you may never want too. But Dr. Jack has this laughter thing down. I could not stop laughing out loud. This is a must read book because you will never forgive yourself for not reading it

Denis

One of the funniest books I've read in many years!You won't be able to put it down once you start reading. Jack's other book, "Surgeon Fishin'", is as hilarious as this one! I am having laughter withdrawals till the next book!

I started laughing half way through the first page of Pumpkins are Orange and I didn't stop until the very last page. My kids would peek in my bedroom to see what I was laughing about and then shake their heads and walk away convinced mom had lost it. This book is so full of refreshing original humor. I have never known anyone with ideas like this one. I found myself incredulous at some of his schemes, and soon found myself talking to the book. The characters are so real that you feel like they are friends and neighbors. Jack draws you into his little world and you are enchanted. The book races along and you can't put it down because you just have to know what is going to happen next. My deepest sympathies to his wife who obviously loves him dearly, but has to endure the consequences of his overactive imagination and zeal. It is a truly delightful book and I can't wait to read another book by Jack Breckenridge. He is definately one of a kind. and you can't help but love him.

John Rice brings his own experience and personal knowledge of history, religion and the power of confession to life in this spell binding story of a young man possessed by his past.

Told only as a "preacher" could, this story comes alive with the sounds and smells of early Florida forests, moonshine and tent revivals.

A must for anyone who enjoys a really good story told by an expert.

This story of Ford Carwin's life is funny, sad, entertaining and believable. Mr. Rice's story captured my attention, and I couldn't wait to read the next page and the next. I enjoyed not only the focus of the story on a man's life, but also the history and geography of the times and places this story takes the reader to. I thoroughly enjoyed the story!

I thoroughly enjoyed this book. It is very provacative and I found it fascinating! A must read!

I have just finished this book; the first I've read by Ann Rule, and have been engrossed from the first page. As soon as I finished it, I scanned the Internet to find out what had happened to the main characters; especially Cinnamon Brown, the poor young 14 year old girl that was locked up for the crime that her father brainwashed her to do. I was so pleased to discover that she has been released from prison and is happily married with a kid. I hope and pray she can put what her father did to her behind her, and get on with having a happy normal life. If you like a book with real people, real situations, and real emotions, get this book. You won't regret it.

This book was the first of Ann Rule's that I ever read. Now I own all of them!! It tells the great tale of a young girl who was brainwashed, and convinced by her father to murder her step-mother. Ann Rule dos a great job of telling all aspects of this story without describing too many of the gory detail. There are great pictures that help you keep the characters straight and help you realize that this amazing story is actually true. The story doesn't end with the discovery of the guilty pary, all the court proceedings and aftermath are almost as interesting as the main story itself. This is definatelty a book I could read in one sitting

After seeing several "true crime" shows on the Brown Case I ordered Ann's book. I had been a fan of hers for several years but hadn't read this story yet. She brings the people involved in this case to life.

What David Brown did to his family is unthinkable. He molested his wife's sister, he manipulated his 14 year old daughter into killing his wife and then sat back and enjoyed his freedom and the insurance money from the death of his wife.

While he lounged in a nearly 1/2 a million dollar home, now married to his late wife's sister, his daughter sat in the Ventura School (a youth prison). If not for three men, who went above and beyond the call of duty, David Brown would never have been convicted. Kudos to Jay Newell, Jeoff Robinson and Fred McLean. And to Cinnamon Brown for breaking the silence.

Ann Rule weaves a story so incredible and so vivid you will not be able to put the book down till you're done!

Bravo, Ann, on another truly exceptional book.

I wish I can give 'The Burnt Orange Heresy' the same sort of glowing review the others have posted. However despite its originality (at the time it was written) and overall quality I found myself curiously bored by it all. Why? Well...

The story is certainly bizarre. A rather obnoxious art critic is obsessed with getting a glimpse of paintings by a living art legend who happens to be a recluse. No one has seen this fellow's work in decades. Our art critic will stop at nothing to get what he wants. Think deceit, betrayal and murder and you've got the right idea. Sadly, I think such art critics actually exist in this world. ;-)

But Willeford unfortunately devotes too much time during most of the book blathering on about the art world: competitiveness between critics/reviewers, different styles of art during the last century, and how to judge the quality of art. For this reader, who couldn't give a monkey's about art, became quite bored with it all. Towards the end when the story picked up I was too disengaged to really appreciate the shock/horror of our art critic from hell.

...Bottom line: perhaps best left for those who truly hate art critics and love Charles Willeford.

What I liked best in this book was that there was not merely a surprise ending, but surprise twists throughout. The sole drawback is that the dialogue became a bit teachy at time when the main protagonist was explaining the artist that the book centers around to his love interest (or not). On the other hand, that dialogue was realistic; it reminded me of real conversations with critics and experts that do tend to get long and boring. The book is short but the pace of events is perfect, and enough happens by the end to make it interesting.

Willeford's interrogation of the battle between Christianity and Platonism with Sophistic postmodernism is so concretely placed within Miami's seething Bohemian art world as a rotten critic takes on the sacred role of art in our society and has to confront the massive realm of the western aesthetic clear back to the Renaissance shows what a powerful mind Willeford had built for himself. Forget Joyce and Umberto Eco. Willeford's the man to show us the problems of relativism, and the importance of Kantian aesthetic judgment in creating a lasting culture. Delhi, NY

Black Water is the third in T. Jefferson Parker's series featuring Orange County, California detective Merci Rayborn. Merci is a single mother (the father having died in the first book) and an ambitious cop whose dreams of being sheriff have diminished after making enemies in the department in the second book. Her new case offers a chance at redemption but even a bigger chance of endangering her career again.

The case is a deputy who has apparently killed his wife and then attempted suicide. There are many who are ready to leap to this conclusion - not wanting the Sheriff's department to look like it's covering things up - but Merci has her doubts, which are strengthened as she continues her investigation.

Merci's not the only one seeking the truth. The severely wounded deputy, despite shards of bullets in his brain, is out to find answers and vengeance. He is almost a supernatural force, a seemingly undead being who knows his own life is limited and only has a mission to sustain him.

Parker is an accomplished writer who as always delivers an entertaining novel. The only problem I have is the inclusion of the first chapter which shows the deputy's innocence. If the reader doesn't know this, it deepens the mystery. While solid enough entertainment, it admittedly does not have the spectacular quality that merits five stars. But four stars is enough to make this a recommended read for mystery fans.

(this is a corrected version of a review by me that you have already posted -- i inadvertently switched the sequence of the first two merci rayborn books, in two separate references to that sequence; please sub this for the one now posted. tom parsons)

After first encountering Merci Rayborn (and T. Jefferson Parker) in "Blue Hour," and then following
her growth in "Red Light," it is gratifying to see her become a fully engaging person/character in
"Black Water."

The locale is familiar to Parker readers, the L.A. area's polyglot Orange County, and so is Parker's
mix of business people and hustlers, police procedure and character interaction. But a difference
with this book is the focus not on "whodunit" aspects (those are resolved for the reader relatively
early on) but how the case will be disposed of in Merci's complex world of cops under pressure
from sensation-mad media and ambitious prosecutors, and how Merci will handle the resolution.
The climax comes not with discovering "whodunit" but with the wholly surprising denouement of a
suspect and victim. Well done.

As a fan of what I call "L.A. noir" (Harry Bosch is very high on my list), I had found myself engaged
by Tim Hess in "Blue Hour." But I was willing to give his partner in that book, Merci, a chance in
"Red Light." After finishing it, I was dissatisfied -- she was too self-absorbed and had too little
self-awareness to pull me much further into her life.

If I hadn't already bought "Black Water," I don't believe I would have read it on the strength of the
first two Merci books. But, I had bought it, so I did read it, and was pleased to find that Parker has
allowed Merci to develop a more complete, more mature personality. If his slow development of
Merci -- relying primarily on plot rather than the engaging aspects of a character, which were in
short supply in the first two books -- was deliberate, it was a large risk, but it is one that pays off
for persistent readers.

BLACK WATER presents the tragic character of Archie Wildcraft, accused of murdering his loving wife and then failing to kill himself.

In the eyes of the District Attorney there is little doubt Archie committed the crime. Merci Rayborn, tough but emotionally scarred, feels pressure to arrest him but is unconvinced of Archie's guilt, despite all the evidence to the contrary. Instead, she is driven to prove his innocence and discover what really occurred on the night both Archie and Gwen Wildcraft were shot.

Merci has witnessed the love Archie professes for his slain spouse and doesn't want to see him unjustly punished. Archie invokes sorrow, rage and pity as Merci and the reader empathize with his situation. His wife has been murdered, he has a bullet in his brain, has lost his memory and is unsure of his involvement in the crime.

Throughout the story, the pace builds as new clues, relationships, and characters are uncovered. By the time the story reaches resolution, the pieces come expertly together and we once again have proof that T. Jefferson Parker is a writer of suspense with depth. If you are looking for a suspense novel with subplots and emotional depth expertly crafted to keep you interested and entertained, I think you will enjoy BLACK WATER.

Why is it that every post-apocalyptic book must have the same old tired plot: a youth, hearing about the grand old past, investigates and discovers the "truth" of the past? Of course, the fact is that these books, like most "non-adventure" SF, are about the present using this simplified vision of the future as a looking-glass to it. My problem with the sub-genre is that I don't hold with the simplification--most of these books Imply that our present life is "out of balance" and that, in a antediluvian world, the balance will be restored. I can hold with the former, but I disagree with the latter.

So too may Stan Robinson, if I understand the theme behind his Orange County trilogy, of which this is the first book. Taking a common starting point, Robinson looks at the world through three different fun-house mirrors, the first of which is a back-to-nature, return to the "simpler" life. This is pure conjecture on my part, not having read the other two volumes as of yet, however.

The Wild Shore was an Ace SF original, published in the same line edited by the late Terry Carr as Gibson's Neuromancer. While it did not set the genre on its ear as Gibson's novel, the seeds of Robinson's later career and his interests can be seen here. While post-apocalyptic, this novel is not a rehash of A Canticle of Leibowitz--rather than concentrating on the tragedy of the apocalypse and how it might happen again and again, Robinson celebrates the enduring human spirit by attempting to show that life goes on much the same as it ever did. Parents will continue to be parents, both supporting and domineering, and children will continue to be children, full of rash actions and the naive belief that they can live forever. Like his short story, "Down and Out in the Year 2000," The Wild Shore can be read as an answer to the cyberpunk belief that technology will reinvent the world. Robinson says, the world may change, but people will not.

As a final aside to this incoherent rambling, I was surprised early on in the novel to find another coincidental relationship between this book and Neuromancer. Much has been made of Neuromancer's first line, which, to paraphrase, goes "The sky was the color of a television, tuned to a dead channel." On page 34 of The Wild Shore, Robinson depicts the same color by saying, "On the coast the sky was the color of sour milk...." The two similes are one of the best indications of the different milieu depicted, and the underlying themes of both books.

This story takes place in post apocalyptic California. What I liked about the book was the characters and the woven world. Both were very real to me. The book is told from the perspective of the protagonist Henry and told in the first person. I have always prefered books in the first person as I am able to better connect with the character from whose perspective the story is being told. I don't think this book could of been written any other way. KSR paints an incredible picture of post apocalyptic California as you, the reader, and Henry, the protagonist, experience life in a world in what one hopes will never come to be. But, if it did, would it be like this? Perhaps. The story is strong and believeable, the characters as I have said are real and you easily get wrapped up in their lives. No super hero or villian types. Normal people struggling to survive. You get a real glimpse KSR's post apocalyptic California (and World to a small degree). I have never been to California, but through this book I was able to walk the shoreline, climb the cliffs, fish its waters and breathe its air. True, I wouldn't want to be there given the circumstances, but it was all very real. A very compelling read. Recommended for middle teens to adults.

The world of SF has been filled with apocalyptic and post-apocalyptic stories since its very beginning as a separately identifiable genre. Do we really need another one? In the case of this book, the answer to that is a resounding yes! Robinson has crafted a finely wrought work of character and theme that will resonate with readers, that is highly evocative of some of the other truly fine works within this sub-genre, from Pangborn's Davy to Stewart's Earth Abides, that delivers insights into societies and individual human motivations at a level rarely found in any fiction.

This book is part of Robinson's triptych (the other two pieces being The Gold Coast and Pacific Edge) that deals with various futures as seen from the perspective of Orange County, California. These books are related by theme only, and can all be read independently of the others. In this one the United States has effectively been destroyed by the use of about 3000 neutron bombs that were smuggled in by truck (the country of origin never provable but supposed to be Russia), turning almost every city into a waste land and wiping out the economic and industrial structure that allows today's Americans to enjoy a standard of living so very much higher than most of the rest of the world. The United States has now been placed in quarantine by the rest of the world, and any attempts to try to re-organize and re-build the country are ruthlessly disrupted. Orange County has returned to a fishing/agrarian level society with government by communal consensus. But this is the mere background to a remarkable tale of two young men, Henry and Steve, trying to find their own way and life answers within this community, underneath the strong influence of the town elder Tom, one of the last survivors who remembers what America was like before the bombs. Henry and Steve are close friends but are two very different personalities, and how each reacts to the opportunity to 'do something' to those who are maintaining the quarantine forms the main basis of the book.

The depth of characterization here is remarkable, and the portrayal of the society that grew under these imagined conditions is just as remarkable for its believability and economic viability. I found myself living and feeling right along with the main characters, could see myself in just the situations portrayed, facing the same moral dilemmas and wondering just how I would react, what I would do. The prose is smooth and with a nice balance between description, dialogue, and action, and a theme that is presented via 'show, not tell' methods.

All of the 'Three Californias' books are good, but this one is clearly the best, and should be put on everyone's 'must read' list.

This is a fine guide to the trails of the regional / state park system of Orange County, Ca.. Included are directions to the trailhead, descriptions of the parks, and a detailed discussion of each trail ( distance, elevation gain and loss, highlights, etc.) This book has many fine photos and provides an alternative to Orange County hikers tired of making long drives to the mountains or deserts.

If you want to learn about interesting day hikes in Orange County this is the book for you. There is a map for each area with several hikes per map. For each hike described there is a time,distance and dificulty rating. Descriptions of each hike are good.

Everyone in Orange County should own this book. Shad explains all the details for a serious hiker to find the best trails and features in Orange County, together with technical information about the right USGS Maps, elevation gains and distances of the various hikes. But he does so with a simplicity that makes the novice, like most of us, instantly aware of which hikes would be most appealing. He even adds a simple ranking system to separate the truly challenging treks from the mere walks. If you want to hike in Orange County, this tells you everything you need to know. If you only want to find a small patch of green to stretch your legs, this is still the place.

As China becomes a world economic power and the West and East join to co-create new medical and social models for the betterment of all life on earth, it is vital for westerners to understand the ancient and fascinating art and science of Traditional Chinese Medicine. Herbal Healing Secrets is well-written and easily understood by the western mind. Darlena L'Orange introduces us to many practical and inspirational ways of putting Traditional Chinese Herbalism and Medicine to work to improve the quality of life.

Darlena has made an important contribution to the mainstream appreciation and use of Chinese herbs. I am proud of her ability to convey the meaning and spirit of Chinese herbal medicine so that larger numbers of people will feel confident in their use.

I met Darlena L'Orange sixteen years ago when I was an overworked counselor for social services agencies. I went to her for assistance with stress and headaches. Her gentle techniques and candidly fresh style captivated me. I realized I was before a true curandera, the kind that envelopes in you the will for self-improvement, peace and wellness. I have followed Darlena's career all along, referring friends and clients to her for diverse health problems. Her greatest gift comes from eloquently and clearly making the language of healing communicable. I am extremely pleased that she is now able to bring all of her distinguishing, empowering characteristics into manageable literataure. Those who can communicate with the soul and the intellect, as well as the flesh, are few and far between. Darlena is the most authentically touching and hard-working (well-researched) acupuncturist/herbalist one could know in person as well as through her writings. Her soul travels well on paper.