Sold Short : Uncovering Deception in the Markets
Author: Manuel P. Asensio, Jack Barth
List Price: $29.95
Our Price: Click to see the latest and low price
ISBN: 0471383384
Publisher: John Wiley & Sons (15 April, 2001)
Sales Rank: 25,759
Average Customer Rating: 3.33 out of 5
Customer Reviews
Rating: 4 out of 5
Fun and exciting story of battling the stock mkt bad guys
What makes this a fun read is the "rogues gallery of thugs, schemers , and goofballs" who are running stock market scams, and who vociferously object to Asensio's activities. Stock scams tend to attract hysterical promoters with a flair for the dramatic. I particularly enjoyed the little details - the guy who shows up in court in a dress, the threatening emails, the Maria Bartiromo connection. What makes it exciting is Asensio's own precarious finances - he could go broke at any minute as he is hit with lawsuits and stock price manipulation that hurts the values of his holdings.This guy is certainly not afraid of making enemies - his targets range from major investment banks to the SEC to Christie Todd Whitman - and, OK, I admit he seems a bit paranoid at times. I'm also puzzled a bit by his faith in the efficient markets hypothesis - he says he doesn't believe in short squeezes because they don't reflect fundamental values, yet it seems to me the whole point of the book is that stocks can be overpriced.
Rating: 5 out of 5
Uncovers the sleazy self dealing on Wall Street
This book hits hard, naming names, dates, and connections. After reading this you will wonder why these people that are detailed in the book are not in jail. For the most part, historical info as detailed in the book is still available. I went to the SEC site and looked up 4 of the mentioned companies and whoa, all the filings are there. Read them yourself, they are free to the public. There are companies out there who make nothing, sell nothing, and their only source of income is selling (scamming) stock. Asensio unmasks a few of them and it's like stirring up a hornet's nest.
The book itself is fun and reads like a mystery, you don't get bored. He has some personal history which explaines where he came from. He does do a little cheerleading but it should be expected. Asensio and his small crew take on the Giants of Wall Street, wage battle, and sometime win. Along with "The Predators Ball" this book is a must read for new or experienced stock investors.
Rating: 1 out of 5
Not What I Expected
My original hope when picking this book up from the library was to learn about shorting stocks. Unfortunately Manuel Asensio's book is written on a level where few people can even relate. Mr. Asensio speaks in a language that only very experienced stock shorters can even understand. Whereas some of Asensio's use of language is a bit colorful, he writes wildly about all these key names like his audience is completely familiar with unknown CEO's from unknown companies. Why not talk about some of the big time tech stocks that tanked in the early 2000's like Yahoo, Sun Microsystems, and the late Enron? I actually stopped reading this book midway because of the incessant name dropping.There are a few pages where Ansensio talks about stock shorting basics and how he started in the business. Maybe if Ansensio related to a wider audience, this book would hae a good reputation. Like this he merely talks how he uncovers terrible fraud and should be viewed as a champion of justice. Mr. Ansensio, you need a big time reality check.
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