Dumb Money (Limited Edition) - Hardcover

Anuff, Joey; Wolf, Gary

Hardcover

ISBN 10: 0413751503 ISBN 13: 9780413751508

Publisher: Methuen Publishing Ltd, 2000

Synopsis

Every day, millions of people go online, day trading in the biggest casino in the world: the stockmarket. A few get rich; a lot get burnt; everyone hopes for the big score. Dumb Money is the rollercoaster story of one who's been there and back, and emerged - enriched, enlightened and exhausted - to tell the tale.

About this title

Review

Could it be? Is it possible that day trading--the hottest thing to hit the market since analysts started forecasting stock movements by the heft of Alan Greenspan's briefcase--is simply a bait-and-switch that promises unlimited riches but delivers only aggravation? Joey Anuff, co-founder of the Suck.com humour website, certainly thinks so. With literary input from Wired magazine's Gary Wolf, he takes us into the belly of the beast in Dumb Money. And his rollercoaster first-person account of the day trading life graphically shows that while this highly romanticized world may be consistently exciting and occasionally quite profitable, it sure ain't pretty.

Set to the tempo of a trading day that begins each dawn in Anuff's San Francisco apartment, the book chronicles an existence fuelled by CNBC and Starbucks and has little room for anything else. Envious of the vast riches that everyone else seems to be accumulating, Anuff jumps into the abyss full-bore to the detriment of his personal life, his regular job, and even his sanity. Through witty writing and self-effacing irony, he shows why he stayed glued to his keyboard each day until the closing bell, repeatedly risking tens of thousands on stocks he couldn't even recall a few weeks later. Along the way, he introduces us to several top players in the game, and explains how everything from discount brokerages to Web message boards affect the action. A true cautionary tale, it's recommended for anyone who has ever read about a trader's million-dollar day and seriously wondered, "Why not me?" --Howard Rothman, Amazon.com

Review

"'Dumb Money is another example of the excellent real-life journalism emerging from the internet boom, rather like the New Journalism that Tom Wolfe proclaimed decades ago' Independent 'If you're thinking of becoming a day trader, you need to learn about the dark side of the business as well as the profits. Start by picking up Dumb Money... a riveting diary of a year of trading dangerously' Business Week 'Anuff is a great wit and a truly funny man. Wolf, a contributing editor at Wired, is an ace reporter who knows the digital revolution inside out' New York Times"

Edition details

• Publisher: Methuen Publishing Ltd
• Publication date: 2000
• ISBN 10: 0413751503
• ISBN 13: 9780413751508
• Binding: Hardcover
• Language: English
• Number of pages: 240