Book Description
Dan Reingold was one of the top analysts on Wall Street. Specializing in telecom companies like WorldCom and Qwest, Reingold believed in Wall Street, and was a part of it. But in this insiders memoir, Reingold describes how his enthusiasm gradually gave way to disgust when he saw how deeply corrupt Wall Street really was. Because big investors had the advantage of inside information, which companies shared with more accomodating analysts, Reingold saw how a straight arrow like himself was doomed to fail.
Reingold is like an incredulous minister who mistakenly finds himself in a whore house. He struggles with temptation: for example, his employer, Credit Suisse First Boston, wants him to sign a contract that would give him huge incentives in return for essentially selling out his clients. He seethes with resentment at being continually trumped by his nemesis, Jack Grubman, who was viewed as a superstar and only later, fined and thrown out of the industry.
Ultimately, Reingold comes to terms with the corrupted, insiders game that was his profession. In the tradition of Liar's Poker, this is a lively, insiders account of how things really work on Wall Street that will teach even Eliot Spitzer a few things. To complete his tale, Reingold even sat through the 2005 trial of one of the most spectacular losers of the 1990s, fallen WorldCom CEO Bernie Ebbers, who Reingold knew in his heyday.
Customer Reviews:
Good read on the inner workings of Wall Street but..........2007-08-10
..but each time I felt that I liked the author, he kept bringing up instances to support his extreme dislike of Grubman. This really took away from the content and message of the book. I think it would have been enough to state how different he was from Grubman and then let his own example of hard, clean work be benchmark for the reader to compare the 2 analysts. In the end, no one can say Grubman was as honest a man as Reingold.
Interesting read.......2007-07-30
Interesting read for anyone interested in learning more about the stock analyst profession and the conflicts of interest that occurred during the dot com bubble during the late 90s.
Not Since "Den of Thieves...".......2007-07-29
Not Since the book "Den of Thieves" has a Wall Street expose been created that details the lurid "behind the scenes" events and actions affecting a major part of our nation's financial industry.
Author Dan Reingold, a former Wall Street telecom analyst, takes the reader on an intimate journey through the telecom stock "boom" and subsequent "bust" in the 1990's.
I found this book to be very insightful with particular interest to those of us who specialize in "day-trading" and dabbling in trading of stocks and options (at any level). Author Reingold warns:
"Of all the lessons I've learned in my time on the Street, the most difficult one to swallow is that I no longer believe in the transparency of the American financial system. When I came to the Street, I saw it as a place where there were plenty of sharks, but also as a place where American capitalism reigned supreme, a place where everyone has a chance to do well if they were smart, hardworking, and a little bit lucky. It was a game I enjoyed playing--at least until how I realized how corrupted the game had become.
But I also came to realize that for people who don't have access to this inner sanctum, Wall Street is not a game at all. It's deadly serious, and it's rigged against most of its participants--everyone but the few with a seat at Wall Street's special tables. If you take anything away from this book, I hope it is this unfortunate truth (pp 314-15)."
Well done and rated at five stars for taking the uncomfortable position of trying to sound the alarm while uncovering the truth.
JP
Inside scoop on the telecomm industry.......2007-07-15
The author gives all the dirt on what it was like to work on wall street during the telecomm craze of the eary 1990's. all the players are named and the best part that he concludes and proves how slimy it all is with concrete examples. Good book.
Good story about the job of a Research Analyst.......2007-03-09
This is a good description of what research analyst's job entails. However, one has to read this book with a grain of salt as the author may not have been forthcoming about the activities that he has been involved in that are in a gray area. Otherwise, though, it makes for interesting reading. I wonder if it becomes fuel for more regulatory changes on Wall Street.
Also, the salaries spoken about in this book are shocking. Read it to find out what they earn on Wall Street :-).
Average customer rating:
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Martha Stewart's Legal Troubles
Manufacturer: Carolina Academic Press
ProductGroup: Book
Binding: Paperback
 Business Law
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ASIN: 1594602360
Release Date: 2006-12-30 |
Product Description
Martha Stewart's Legal Troubles Heminway brings together essays written by legal scholars specializing in both white collar crime and securities regulation concerning the varied legal claims made against Martha Stewart in connection with her sale of shares in ImClone Systems Incorporated in December 2001. The articles present interesting historical facts and analytical observations while raising important questions about the use of discretion in public enforcement proceedings (civil and criminal) and the elements of two popular federal claims: obstruction of justice and securities fraud under Rule 10b-5.
Average customer rating:
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Insider Trading
William K. S. Wang , and
Marc I. Steinberg
Manufacturer: Practising Law Institute
ProductGroup: Book
Binding: Hardcover
Business Law
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ASIN: 140240686X |
Product Description
The Second Edition of Insider Trading is your indispensable guide to avoiding insider trading liability, giving you the comprehensive legal knowledge and practical tools you need to determine what's legal, what's not, and what you can do to minimize liability exposure. Insider Trading shows you how the government has closed loopholes to increase insider trading liability - alerts you to SEC, Congressional, and judicial trends that signal greater legal peril for corporate players - guides you effectively in those murky legal areas where the government has failed to offer direction - and offers a treasury of useful resources -- including graphics that clarify legal boundaries, texts of major rules, and citations to thousands of laws, regulations, court rulings, and insider trading articles and treatises.
Book Description
Selected insider trading cases have been compiled in this Turning Points series casebook as a way of illustrating the development of securities/insider trading law. Text and explanations accompany each case.
Customer Reviews:
Disappointment.......2007-05-30
If I had know that the book was such a small book, a summary introduction to "insider trading", so superficial, I'd never spent the money or time.
Nothing new about insider trading. An interesting overview for those who would like a glance of what "insider trading" is. Not a book for those already familiar with "Texas Gulph Suphur" or the basics of insider trading.
Being the author a university professor and being the price so HIGH, I'd expected something different.
MY dissapointment might be due to plaintly false expectations. Maybe all "turning point series" are booklets like this one and all north-american readers know that already.
A Great Read.......2000-07-19
I recommend this book to anyone who would like an informed yet entertaining examination of Insider Trading as it impacts corproate governance and our economy.
Average customer rating:
- Implications of Insider Trading
|
Insider Trading: Economics, Politics, and Policy (Special Analysis)
Jonathan R. Macey
Manufacturer: AEI Press
ProductGroup: Book
Binding: Paperback
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Securities Law: Insider Trading (Turning Point Series)
ASIN: 0844770108 |
Book Description
The book presents different perspectives that explain the prohibition of insider trading and the way it affects various aspects of life on the stock market.
Customer Reviews:
Implications of Insider Trading.......2000-05-16
Book Review: Insider Trading
Insider Trading by Jonathan R. Macey is a special analysis on insider trading. It presents different perspectives that explain the prohibition of insider trading, and the way it affects various aspects of life on the stock market. In particular this book analyzes insider trading as a whole from the view of Economics, Politics, and Policy.
In the first part of the book the author reviews briefly the early history of the regulation of insider trading. He tells the reader various anecdotes involving the congress, the supreme court, and the investors. He also explains various laws which have regulated insider trading. He also lays out the problem of conflicts of interest between the shareholders and managers as it relates to insider trading. Finally the author underscores the importance of understanding insider trading from an economic viewpoint for the investors, from the political viewpoint for Congress, and from the Policy viewpoint for the Securities Exchange Commission which regulates trading on the stock market.
In chapter two, the author presents us with the important principles of economics that are relevant to insider trading. The investors who trade securities should have the ability to dispose their securities at short notice and at the least cost. Such an ability makes the stock market economically efficient for all investors. Specifically the author defines Insider Trading as based on private information which is like property.
In chapter three, the author makes fine distinctions between small investors and large institutional investors as they relate to insider trading. Insider information can give an undue advantage to insiders and other bigger investors who can purchase information. This puts the small investors at a considerable risk and disadvantage. The author presents the trade off between higher salaries and the benefits from insider trading for senior managers. Such a trade off results in an overall enhancement of shareholder wealth.
In chapter four, the author focuses on redressing the problem of disadvantage for the small investors who do not possess insider information. Since this is not fair, Congress protects the small investors by promulgating laws that ban insider trading. The author details the case of Chiarella that clarifies the law. The author describes the political conflicts between the executive arm of the government, namely the Securities Exchange Commission, and the judicial arm of the government, namely the Supreme Court. Chapter five is the theoretical core of the book with extensive discussion of insider trading and its relationship to other concepts such as fairness, welfare and equality of information. In fact, insider trading cannot be labeled either unfair or inefficient unless it harms investors. Nor does insider trading undermine investor confidence in the stock market if such trading maximizes the value of a firm. The author presents a balanced view on both the positive benefits and inimical consequences of insider trading.
Chapter six provides an overview of the Policy framework that the Securities Exchange Commission has to implement to prohibit insider trading. The author describes various rules, for example Rule 10b-5, of the Securities Exchange Act with succinct explanations of the underlying rationale for each rule. The author uses the cases of Chiarella and Dirks to describe the Supreme Court interpretations of the Policy framework for the Securities Exchange Commission. This chapter is an excellent summary of the prevailing law of insider trading in the US.
If there is one lesson to be learned from this book, it is that insider trading constitutes the theft of company property (though the property is information). However, such inside trading cannot constitute the theft of company property if such trading is conducted with the consent of the firm that owns the information and such trading occurs under the Policy framework of the Securities Exchange Commission.
This book is an excellent analysis on insider trading from the viewpoints of Economics, Politics and Policy. It helps the reader not only know what insider trading is, but understand the ways in which it affects life in the stock market. I highly recommend this book to anyone looking for an analytical overview of insider trading.
* This book review was done as part of a class project under the tutelage of my 8th Grade English teacher, Mr. Chad Reynolds. The review benefited from his comments.
Average customer rating:
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Comprehensive section 16 outline
Peter J Romeo
Manufacturer: E.P. Executive Press
ProductGroup: Book
Binding: Unknown Binding
Stocks
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Law
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| Administrative Law
| Biographies
| Business
| Constitutional Law
| Criminal Law
| Current Affairs
| Dictionaries & Terminology
| English Law
| Environmental & Natural Resources Law
| Ethics & Professional Responsibility
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| General
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| International Law
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| Perspectives on Law
| Philosophy
| Practical Guides
| Private Law
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| Statutes & Cases
| Taxation
ASIN: B0006S78CE |
Book Description
Home and exile, memory and yearning, childhood and aging - he themes are timeless, but the moments captured in these exquisitely told lyrical stories of women alone and abroad lie on the edge of the century now ending.
In "The Country Road," eight-year-old Cathy moves at a heartbreaking pace through lonely days in a Northern Ireland populated by elderly neighbors and menaced indeterminately by security forces, while the eponymous heroine of "Bronagh" finds herself wrenched from an idyllic sojourn in Andalucia and thrust into a painful homeward trek when her mother falls ill. In "A Banal Stain," a graduate student lodging in a once-grand house in Lyon confronts the ghosts of France's colonial and Vichy past, and in Morocco the twenty-something English painter and her American writer boyfriend of "A Recitation of Nomads" strive to mend their dreams. "The Marriage at Antibes" is an arranged one, of a Middle Eastern political refugee, long settled in France, and his newly arrived bride. At the core of these scrupulously observed, brilliantly realized stories of foreign travel and exotic cultures stand the pull and the power of vital human relationships - between men and women, fathers and daughters, landlords and tenants, husbands and wives.
Average customer rating:
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Master Farmer: Teaching Small Farmers Management
Bruce M. Landsdale
Manufacturer: Westview Pr (Short Disc)
ProductGroup: Book
Binding: Hardcover
General
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| Economics
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ASIN: 0813302773 |
Customer Reviews:
Good for all nonprofits.......2003-10-17
Please don't be mislead by the title "Master Farmer" because this book is about management and will be helpful to all nonprofits. It is addressed to development workers, those who train them and to those concerned with supporting rural community development efforts. On one of his sabbaticals, the author visited Ireland where he discovered the saying "Management is doing what you want with what you've got". As Director of the American Farm School in Thessaloniki, Greece, the author never had the resources he wanted but he did a superb job with what he had. He would stand up in front of a group of farmers and jokingly tell them "I am going to teach your cows to polka" and then teach the basics of management - Planning, Organization, Leadership, K(c)ontrol, and Adjustment. Hundreds can still remember him emphasizing the philosophy of the school - the head, the hands and the heart - by drawing a spidery man showing the over-evolvement of man from one with a big pair of hands, big heart and a modest sized head into one with a big head, but virtually no hands and little heart. While these lessons are invaluable for those working the land, the same lessons benefit the rural worker in other occupations.
Lansdale also believes that "The story of postwar Greece holds invaluable lessons for many developing countries today. In 1947 Greece had just emerged from a decade of war and strife; its villagers were demoralized and fleeing rural life for the cities; and its farms were unable to produce adequate crops to feed its people. In less than forty years Greece has become a major exporter of foodstuffs, most villages have made the transition from underdeveloped to developing, and rural people no longer yearn to move to the cities." As I view the development efforts since the book was written in 1986, I cry at the money wasted because the decision-makers did not learn from Greece as a development model nor did they take to heart the wisdom in this book.
Lansdale became famous for his Hodja stories and if he failed to include one in his frequent talks the audience would not let him leave the room. But for Lansdale Nazredin Hodja was not just a wise legend and a good laugh, he was the tool to bring home his message of training master farmers. Rural life in developing areas is centered on the peasant, a word used by Lansdale with affection, admiration and profound gratitude for their wisdom and what they taught him. That a peasant has something to teach a person with a university degree may seem strange, but Lansdale took to heart Deeming's adage "get close to the customer", listening rather than preaching, gaining insights and a depth of understanding which most of us would fail to appreciate. The author points out "Many Greek and foreign development workers came to the villages with the idealistic conviction that they understood the peasant's problems and could solve them. However, they soon realized how important it was for the peasants to learn to identify and solve their own problems. Others could introduce modern techniques to the peasants and share new ideas with them, but until the peasants assimilated the ideas, they would have little meaning. The word economics is derived from the Greek word oikos (home). Although any rural development program must rely on effective planning at the national level, development workers must recognize that ultimately success depends on basic economics in the peasant home." Lansdale then goes on to say "But much of the credit must go to the villagers themselves, particularly to the women, whose role in many cases has been even greater than that of their husbands. These master farmers and their wives are the sergeants of agriculture: the select group of peasants who have acquired the managerial skills to lead the country to its present high level of agricultural production. It is essential that developing nations of the world discover innovative approaches to creating such master farmers and the technicians who support them, by providing adequate management and technical training for subsistence peasants." And this is what this book is all about - providing adequate management and technical training for progressively more sophisticated and educated peasants.
Lansdale starts out the book by helping us to understand the problem. How many of us have got sufficiently close to the peasant to be really sure that we understand all dimensions of the problem, and thus build in failure to the best-laid plans? In this respect the author says "The peasants generally accepted their feelings of helplessness in the face of constant misfortune as inevitable and played a primary role in initiating it. Their misfortune was something neither they nor those who wanted to help them could do much about. In Greece today, progressive farmers have grown to accept change as inevitable. If development workers in Greece and else where are to utilize the peasants' potential for change, they must first understand the characteristics of the villagers that once hindered progress in the Greek countryside." It is in understanding the characteristics of the villagers that Lansdale found his magic touch. This allowed him to correctly define the problem and then his university training could be used to help. It is because Lansdale was able to climb into the peasant's skin and look out on the world with the peasants eyes and then return home and meld that world view with that of the developed world that he has been able to make such a valuable contribution.
If you do a quiet self-evaluation and suspect that you have not really and truly got close to your rural customer then I recommend that you absorb the wisdom contained in this book.
dwillis@afs.edu.gr
Average customer rating:
- How close are you to your rural customer?
|
Master farmer: Teaching small farmers management
Bruce M Lansdale
Manufacturer: Westview Press
ProductGroup: Book
Binding: Unknown Binding
Agricultural Sciences
| Science
| Subjects
| Books
| Agronomy
| Animal Husbandry
| Aquaculture
| Bacteriology
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| Chemistry
| Crop Science
| Economics
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| Entomology
| Food Science
| Forestry
| General
| History
| Horticulture
| Insecticides & Pesticides
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General
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ASIN: B0006EL7GQ |
Customer Reviews:
How close are you to your rural customer?.......2004-01-16
Please don't be mislead by the title "Master Farmer" because this book is about management and will be helpful to all nonprofits. It is addressed to development workers, those who train them and to those concerned with supporting rural community development efforts. On one of his sabbaticals, the author visited Ireland where he discovered the saying "Management is doing what you want with what you've got". As Director of the American Farm School in Thessaloniki, Greece, the author never had the resources he wanted but he did a superb job with what he had. He would stand up in front of a group of farmers and jokingly tell them "I am going to teach your cows to polka" and then teach the basics of management - Planning, Organization, Leadership, K(c)ontrol, and Adjustment. Hundreds can still remember him emphasizing the philosophy of the school - the head, the hands and the heart - by drawing a spidery man showing the over-evolvement of man from one with a big pair of hands, big heart and a modest sized head into one with a big head, but virtually no hands and little heart. While these lessons are invaluable for those working the land, the same lessons benefit the rural worker in other occupations.
Lansdale also believes that "The story of postwar Greece holds invaluable lessons for many developing countries today. In 1947 Greece had just emerged from a decade of war and strife; its villagers were demoralized and fleeing rural life for the cities; and its farms were unable to produce adequate crops to feed its people. In less than forty years Greece has become a major exporter of foodstuffs, most villages have made the transition from underdeveloped to developing, and rural people no longer yearn to move to the cities." As I view the development efforts since the book was written in 1986, I cry at the money wasted because the decision-makers did not learn from Greece as a development model nor did they take to heart the wisdom in this book.
Lansdale became famous for his Hodja stories and if he failed to include one in his frequent talks the audience would not let him leave the room. But for Lansdale Nazredin Hodja was not just a wise legend and a good laugh, he was the tool to bring home his message of training master farmers. Rural life in developing areas is centered on the peasant, a word used by Lansdale with affection, admiration and profound gratitude for their wisdom and what they taught him. That a peasant has something to teach a person with a university degree may seem strange, but Lansdale took to heart Deeming's adage "get close to the customer", listening rather than preaching, gaining insights and a depth of understanding which most of us would fail to appreciate. The author points out "Many Greek and foreign development workers came to the villages with the idealistic conviction that they understood the peasant's problems and could solve them. However, they soon realized how important it was for the peasants to learn to identify and solve their own problems. Others could introduce modern techniques to the peasants and share new ideas with them, but until the peasants assimilated the ideas, they would have little meaning. The word economics is derived from the Greek word oikos (home). Although any rural development program must rely on effective planning at the national level, development workers must recognize that ultimately success depends on basic economics in the peasant home." Lansdale then goes on to say "But much of the credit must go to the villagers themselves, particularly to the women, whose role in many cases has been even greater than that of their husbands. These master farmers and their wives are the sergeants of agriculture: the select group of peasants who have acquired the managerial skills to lead the country to its present high level of agricultural production. It is essential that developing nations of the world discover innovative approaches to creating such master farmers and the technicians who support them, by providing adequate management and technical training for subsistence peasants." And this is what this book is all about - providing adequate management and technical training for progressively more sophisticated and educated peasants.
Lansdale starts out the book by helping us to understand the problem. How many of us have got sufficiently close to the peasant to be really sure that we understand all dimensions of the problem, and thus build in failure to the best-laid plans? In this respect the author says "The peasants generally accepted their feelings of helplessness in the face of constant misfortune as inevitable and played a primary role in initiating it. Their misfortune was something neither they nor those who wanted to help them could do much about. In Greece today, progressive farmers have grown to accept change as inevitable. If development workers in Greece and else where are to utilize the peasants' potential for change, they must first understand the characteristics of the villagers that once hindered progress in the Greek countryside." It is in understanding the characteristics of the villagers that Lansdale found his magic touch. This allowed him to correctly define the problem and then his university training could be used to help. It is because Lansdale was able to climb into the peasant's skin and look out on the world with the peasants eyes and then return home and meld that world view with that of the developed world that he has been able to make such a valuable contribution.
If you do a quiet self-evaluation and suspect that you have not really and truly got close to your rural customer then I recommend that you absorb the wisdom contained in this book.
Books:
- Constitutional Law and the Criminal Justice System
- Construction Specifications Writing: Principles and Procedures
- Craftsman Homes: More than 40 Plans for Building Classic Arts & Crafts-Style Cottages, Cabins, and Bungalows
- Critical Jurisprudence: The Political Philosophy of Justice
- Design Details for Health: Making the Most of Interior Design's Healing Potential (Wiley Series in Healthcare and Senior Living Design)
- Detail Practice: Translucent Material: Glass, Synthetic Materials, Metal
- Details in Contemporary Architecture (AsBuilt)
- Digital Tectonics
- Eero Saarinen: Shaping the Future
- Federal Style Patterns 1780-1820 with CD-Rom
Books Index
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Hedgehogging
The Accidental Investment Banker: Inside the Decade That Transformed Wall Street
Blood on the Street: The Sensational Inside Story of How Wall Street Analysts Duped a Generation of Investors
Inside the House of Money: Top Hedge Fund Traders on Profiting in the Global Markets
Wall Street Versus America: The Rampant Greed and Dishonesty That Imperil Your Investments
