Take On The Street: What Wall Street And Corporate America Don't Want You To Know
by Arthur Levitt /
2002 / English / EPUB
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Investors today are being fed lies and distortions, are being
exploited and neglected. In the wake of the last decade’s rush to
invest by millions of households and Wall Street’s obsession with
short-term performance, a culture of gamesmanship has grown among
corporate management, financial analysts, brokers, and fund
managers, making it hard to tell financial fantasy from reality,
salesmanship from honest advice.
Investors today are being fed lies and distortions, are being
exploited and neglected. In the wake of the last decade’s rush to
invest by millions of households and Wall Street’s obsession with
short-term performance, a culture of gamesmanship has grown among
corporate management, financial analysts, brokers, and fund
managers, making it hard to tell financial fantasy from reality,
salesmanship from honest advice.
In
InTake on the Street
Take on the Street, Arthur Levitt—former chairman of the
Securities and Exchange Commission—shows how you can take matters
into your own hands. At once anecdotal (names are named),
informative, and prescriptive, Take on the Street expounds on,
among other subjects: the relationship between broker compensation
and your trading account; the conflicts of interest inherent in
buy-hold-or-sell recommendations of analysts; what exactly
happens—and who gets a piece of the action—when you place an order;
the “seven deadly sins” of mutual funds; the vagaries and
vicissitudes of 401(k) investments; how accountants engage in
sleight of hand to fake impressive company performance; how to find
the truth in a company’s financial statements; the real reason for
the Street’s hostility to full disclosure; the crisis in corporate
governance, and, given these shenanigans and double-dealings, what
specific steps you can take to safeguard your financial
future.
, Arthur Levitt—former chairman of the
Securities and Exchange Commission—shows how you can take matters
into your own hands. At once anecdotal (names are named),
informative, and prescriptive, Take on the Street expounds on,
among other subjects: the relationship between broker compensation
and your trading account; the conflicts of interest inherent in
buy-hold-or-sell recommendations of analysts; what exactly
happens—and who gets a piece of the action—when you place an order;
the “seven deadly sins” of mutual funds; the vagaries and
vicissitudes of 401(k) investments; how accountants engage in
sleight of hand to fake impressive company performance; how to find
the truth in a company’s financial statements; the real reason for
the Street’s hostility to full disclosure; the crisis in corporate
governance, and, given these shenanigans and double-dealings, what
specific steps you can take to safeguard your financial
future.
With integrity and authority, Levitt gives us a bracing primer on
the collapse of the system for overseeing our capital markets, and
sage, essential advice on a discipline we often ignore to our
peril—how not to lose money.
With integrity and authority, Levitt gives us a bracing primer on
the collapse of the system for overseeing our capital markets, and
sage, essential advice on a discipline we often ignore to our
peril—how not to lose money.