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Title: This book is a farce, full of errors and miscomceptions
Review: 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.
