Abu'l-Fażl Beyhaqi, a secretary at the court of a number of Ghaznavid rulers in eastern Iran and Afghanistan in the early Middle Ages, is a most perceptive, as well as intriguing, commentator on the history of the Islamic Near East. The surviving volumes of his massive project, dealing in depth with the years 1030-1041, combine astute criticism and wry humor with an unobtrusive display of mastery of the learned literature of the time, both in Arabic and Persian. Through a skillful manipulation of different styles, and timely introduction of the authorial voice as a framing device to bring a sense of heightened drama, the historian comments on mankind's individual frailties and the many lost opportunities that hasten a mighty dynasty's decline. Although there are already a number of articles and monographs in English and other Western languages on aspects of his style and historical approach, this is the first complete translation of the extant volumes with a detailed commentary.