Confessions of a Wall Street Analyst: A True Story of Inside Information and Corruption in the Stock Market
Language: English
Published by HarperCollins Publishers Inc, 2006
- Hardcover
- Used
Seller: World of Books (was SecondSale), Montgomery, IL, U.S.A.World of Books (was SecondSale)
AbeBooks seller since December 20, 2007
Condition: Used - Very good
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Add to basketItem description from seller
Daniel Reingold was a top-ranked Wall Street telecom analyst from 1989 to 2003, first at Morgan Stanley and then at Merrill Lynch and at Credit Suisse First Boston. Specializing in telecom companies like WorldCom and Qwest, he believed in the markets. But in this insider's memoir, Reingold describes how his belief gradually gave way to jaded criticism when he saw how deeply corrupt Wall Street really is. Because big investors had the advantage of inside information, which companies shared with the more accommodating analysts, he saw how a straight arrow like himself was doomed to fail. He recounts how his employer, Credit Suisse First Boston, asked him to sign a contract that would give him huge incentives in return for essentially selling out his clients. The memoir culminates with Reingold sitting through the 2005 trial of fallen WorldCom CEO Bernie Ebbers, who he knew in his heyday. Reingold names names, remembers numbers, and criticizes Wall Street players for relying on inside information and dubious methods.…
Seller Inventory # 00106869176
- Title
- Confessions of a Wall Street Analyst: A True Story of Inside Information and Corruption in the Stock Market
- Author
- Daniel Reingold
- Publisher
- HarperCollins Publishers Inc
- Publication year
- 2006
- Condition
- Very Good
- Binding
- Hardback
- Language
- English
- ISBN 10
- 0060747692
- ISBN 13
- 9780060747695
Here is the true story of a top Wall Street player's transformation from a straight-arrow believer to a jaded cynic, who reveals how Wall Street's insider game is really played.
Dan Reingold was a top Wall Street analyst for fourteen years and Salomon Smith Barney analyst Jack Grubman's chief competitor in the red-hot sector of telecom. Reingold was part of the "Street" and believed in it.
But in this action-packed, highly personal memoir written with accomplished Fast Company senior writer Jennifer Reingold the author describes how his enthusiasm gave way to disgust as he learned how deeply corrupted Wall Street and much of corporate America had become during the roaring stock market bubble of the 1990s.
Confessions of a Wall Street Analyst provides a front-row seat at one of the most dramatic -- and ultimately tragic -- periods in financial history. Reingold recounts his introduction to the world of Wall Street leaks and secret deal-making; his experiences with corporate fraud; and Wall Street's alarming penchant for lavish spending and multimillion-dollar pay packages.
Reingold spars with arch rival Grubman; fends off intense pressures from Wall Street bankers and corporate CEOs; and is wooed by Morgan Stanley's CEO, John Mack, and CSFB's über-banker Frank Quattrone.
Reingold describes instances in which confidential deals are whispered days before their official announcement. He recalls the moment he learns that Bernie Ebbers's WorldCom was massively cooking its books. And he is shocked to have been an unwitting catalyst for a series of sexually explicit e-mails that would rock Wall Street; bring Jack Grubman to his knees; and contribute to the stepping aside of Grubman's boss, Citigroup CEO Sandy Weill.
Some of Reingold's stories are outrageous, others hilarious, and many are simply absurd. But, together, they provide a sobering exposé of Wall Street: a jungle of greed and ego, a place brimming with conflicts and inside information, and a business absurdly out of touch with the Main Street it claims to serve.
He shows how government investigators, headlines notwithstanding, never got to the heart of the ethical and legal transgressions of the era. And how they completely overlooked Wall Street's pervasive use of inside information, leaving investors -- even sophisticated professionals -- cheated. The book ends with a series of important policy recommendations to clean up the investing business.
In the tradition of Liar's Poker and Den of Thieves, Confessions of a Wall Street Analyst is a no-holds-barred insider's account that will open the eyes of every investor.
"Synopsis" may belong to another edition of this title.
About the Author
Dan Reingold was a Managing Director and telecom analyst for fourteen years at Morgan Stanley, Merrill Lynch, and Credit Suisse First Boston. He was ranked number one or number two by Institutional Investor magazine for most of his career. Prior to that he was a financial executive at MCI. He has been profiled in Barron's; frequently quoted in the Wall Street Journal, the New York Times, and BusinessWeek; and interviewed on TV, including CNBC and Wall $treet Week with Louis Rukeyser. Reingold is currently Project Director for Telecom Finance at the Columbia Institute for Tele-Information at Columbia's Graduate School of Business.
Jennifer Reingold is a senior writer at Fast Company magazine. She is the coauthor of Final Accounting: Greed, Ambition, and the Fall of Arthur Andersen and the BusinessWeek Guide to the Best Business Schools. Jennifer is Dan's niece.
"About the title" may belong to another edition of this title.
World of Books (was SecondSale)
Montgomery, IL, U.S.A.
AbeBooks seller since December 20, 2007
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