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Moneymaking
Author: Gary Weiss
ISBN: 1591840945
Subcategory: Finance
Pages 320 pages
Publisher Portfolio Hardcover (April 6, 2006)
Language English
Category: Moneymaking
Rating: 4.4
Votes: 769
ePUB size: 1794 kb
FB2 size: 1159 kb
DJVU size: 1705 kb
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eBook Wall Street Versus America: The Rampant Greed and Dishonesty That Imperil Your Investments download

by Gary Weiss


Wall Street Versus America: The Rampant Greed and Dishonesty That Imperil Your Investments. Ayn Rand Nation: The Hidden Struggle for America's Soul.

Wall Street Versus America: The Rampant Greed and Dishonesty That Imperil Your Investments. a b c The Author Weiss, The Weiss Files. The American Stock Exchange: Scandal on Wall Street Gary Weiss BusinessWeek Online April 26, 1999. Online Investing Gary Weiss BusinessWeek Online June 5, 1995. "Warren Buffett Read it Here First".

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Wall Street Versus America The Rampant Greed and Dishonesty That Imperil Your Investments By Gary Weiss 290 pages. Screeds don't get much more venomous than Gary Weiss's analysis of how Wall Street works.

I applaud you for Wall Street Versus America. A readable one-volume compendium of the many ways Wall Street can deplete your investment portfolio, written for a mass audience without sacrificing details

I applaud you for Wall Street Versus America. Reading it made me realize that my concerns and suspicions are valid and that I'm not alone. A readable one-volume compendium of the many ways Wall Street can deplete your investment portfolio, written for a mass audience without sacrificing details.

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A shocking appraisal that shows how Wall Street is intrinsically corrupt?and what individual investors can do to protect themselves For . Yet the problem, according to Gary Weiss, is not just a few isolated instances of malfeasance

A shocking appraisal that shows how Wall Street is intrinsically corrupt?and what individual investors can do to protect themselves For several years high-profile corporate wrongdoers have been vilified by the media. Yet the problem, according to Gary Weiss, is not just a few isolated instances of malfeasance. The problem is in the very fabric of Wall Street and its practices that enable and even encourage corruption?practices that are so pervasive and so difficult to combat that they are in effect perfect crimes, with the small investor left holding the bag.

The Wall Street Primer This page intentionally left blank The Wall Street Primer The Players, Deals, and .

The Wall Street Primer This page intentionally left blank The Wall Street Primer The Players, Deals, and Mechanics. Your Money Your Investments. The End of Wall Street. Wall Street: A history. Sold Out; How Wall Street and Washington Betrayed America. The Wolf of Wall Street.

Gary Weiss is the author of Born to Steal: When the Mafia Hit Wall Street. He is an award-winning investigative journalist known for writing hard-hitting cover stories during his many years at BusinessWeek on subjects from microcap fraud to manipulation of Treasury securities by Salomon Brothers. He lives in New York City. Wall street versus america. Mr. Weiss shows us how he has been able to capture his Pulitzer. Yes, we find out the "banality of evil" but that is beside the point. You may find yourself dealing with this part of society in one shape or another eventually and you may be surprised to find that the Mafia is NOT so dead as it is being assumed to be.

A shocking appraisal that shows how Wall Street is intrinsically corrupt—and what individual investors can do to protect themselves For several years high-profile corporate wrongdoers have been vilified by the media. Yet the problem, according to Gary Weiss, is not just a few isolated instances of malfeasance. The problem is in the very fabric of Wall Street and its practices that enable and even encourage corruption—practices that are so pervasive and so difficult to combat that they are in effect perfect crimes, with the small investor left holding the bag.

In this blistering report from the front, Weiss describes how the ethos of Mafia chophouses, boiler rooms, and penny stock peddlers now permeates all of Wall Street. Protected from investor lawsuits by laughably corrupt arbitration systems, Wall Street firms are free to fleece unsuspecting clients with little or no risk. But as this empowering book shows, ordinary investors can fight back and come out on top—if they learn to recognize warning signs, filter media chatter, and spot looming corporate meltdowns in advance.

Prepare to be surprised, get angry, and then get even. Wall Street Versus America is a wild ride you can’t afford to miss.

uspeh
I am only about 3/4 the way through this book, but had I read it a few years ago, I probably wouldn't have stock investments and wouldn't have seen my retirement funds go down the tube as they have.
Swordsong
Gary Weiss does best when talking about bucket shops, naked short selling, microcap fraud, and SEC incompetence. He spins compelling stories about larger-then-life criminals and other malefactors, and mocks the regulators who have been so thoroughly captured by Wall Street that they do nothing to oppose them.

The material about actively managed mutual funds and hedge funds was not as good, and almost every chapter is inflated with flowery language and mixed metaphors. See sentences like "The SEC's sterling record of inaction-disguised-as-action reached new heights of splendor in a campaign to put a spit shine on mutual fund governance." This comes a few sentences after Weiss imagines the SEC speaking in stereotypically antebellum black English to its investment bank "massas".

There are also some factual errors, as when Weiss describes "Reminiscences of a Stock Operator" as the memoir of Edwin Lefevre. Actually, "Reminiscences of a Stock Operator" is a fictional semi-autobiography of Jesse Livingston, not a memoir of anybody, especially not Lefevre

The book is dated; the complaints about Dick Grasso and Bear Stearns seem almost quaint. It is nonetheless useful, as some of the problems discussed in the text have been around for decades and, while they will evolve, many of Weiss's chapters will remain relevant.

I gave this book three points because the discussion of naked short selling and for-pay research are good; the weak material doesn't, for me, drag it any lower than that.
Zieryn
Gary Weiss's Wall Street Versus America : The Rampant Greed and Dishonesty That Imperil Your Investments is a well-researched and illuminating account of Wall Street's standard practice to rip-off small investors. It exposes all parties from the small and big Wall Street brokerages all the way to the regulators that allegedly look-out for small investors.

Before the Great Stock Market Crash of 1929, pretty much only the wealthiest Americans were invested in the market, so Wall Street was confined to rip-off only the wealthiest.

After the Crash, the US Government instituted various rules and policies. Most notably it instituted Self-Regulatory Organizations like the NASD. NYSE, etc. and the government regulatory organization The SEC. The former are nothing more than industry trade groups looking out for the industry. The later is a lax government institution that does a better job protecting Wall Street than the individual investor. Indeed, the first head of the SEC was Wall Street tycoon who made millions of dollars manipulating stocks.

The changes were only a shell game. With the rise of pensions, etc, almost everyone is invested in the markets. So Wall Street traded blatant cons of a relatively small number of rich Americans for more subtle cons of all Americans.

For the past thirty or so years Wall Street even started running its own self-styled justice system under the name of arbitration. The system is completely rigged in favor of Wall Street. Investors rarely receive justice. And Wall Street evades the law, avoids punishment, and conceals any negative publicity that might spur real regulation or at least more investor skepticism.

Unfortunately Wall Street is not just ripping off small investors. It is ripping off supposedly savvy corporations as well as infecting corporations with its own dishonest, money-grubbing culture.

Weiss's book should be required reading for the legislators in Washington DC.
Ranicengi
I found it boring and repetitive, couldn't finish it
Ynap
You can't judge a book by its cover. But I did want to read this book. While its contents didn't live up to what I expected, I did get this book at a good price. I would buy from this seller again, while I will have some doubts to ever buying this authors materials.
Akinozuru
I recently received a small inheritance, and bought this book for some suggestions on what to do with it. After reading this scathing account of how careless, and frequently criminal, Wall Street is with investors' money, I think the best thing to do with it is stuff it in a pillow case and throw it in the closet.
I looked at other reviews here to see if anyone in the know disputed any of Gary Weiss' claims, and, alarmingly, no one did. A former Business Week columnist, Weiss definitely appears to know his subject, and, more importantly, he adopts a tone that makes the book readable for a complete layman like myself. Though his style may occasionally come off as glib as facetious, he presents a view of Wall Street you are not going to get anywhere else, packed with information that pesents the world of investment as nothing more than an Old Boy's Club that simply doesn't care at all about you.

Brief list of things I learned from reading this book: The regulation and punishment of criminals on Wall Street is usually done by the very people committing the fraud, hedge funds don't behave any differently with your money than any other investors, boiler room scams are alive and well (not hounded out of existence by the SEC, as I believed) and "punishments" meted out for criminal behavior by the SEC usually consist of being asked nicely to stop it.
I can't recommend this book enough to anyone considering investing. I'm very glad I got it when I did. A Must Read!