Confessions of a Wall Street Analyst: A True Story of Inside Information and Corruption in the Stock Market - Hardcover

Reingold, Daniel; Reingold, Jennifer

Hardcover

ISBN 10: 0060747692 ISBN 13: 9780060747695

Publisher: HarperCollins, 2006

Synopsis

In a colorful and revealing memoir, a former top Wall Street analyst describes his personal discovery of the twisted and tempting world of high-stakes investment, discussing the pervasive use of inside information, the corruption that cheated many investors, and how the insider's game is really played. 35,000 first printing.

About this title

Review:

“It’s a terrific memoir. This honest and irreverent behind-the-scenes account of life on Wall Street is highly recommended.” (Library Journal)

Synopsis:

This is the true story of a top Wall Street player who chronicles his own transformation from a straight arrow believer in the markets, to a jaded critic who reveals how the insiders' game is really played. 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 accommodating 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, insider's 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. This is a very personal story, and a warts-and-all look at the investing business that is extremely relevant in today's post-scandal world. It is co-written with his niece, Jennifer Reingold, a talented Fast Company senior writer.

About this edition

• Publisher: HarperCollins
• Publication date: 2006
• ISBN 10: 0060747692
• ISBN 13: 9780060747695
• Binding: Hardcover
• Edition number: 1
• Number of pages: 368