Take On the Street: What Wall Street and Corporate America Don't Want You to Know
Author: Jr. Arthur Levitt
List Price: $24.95
Our Price: Click to see the latest and low price
ISBN: 0375421785
Publisher: Pantheon Books (October, 2002)
Sales Rank: 47,749
Average Customer Rating: 3.32 out of 5
Customer Reviews
Rating: 4 out of 5
Arthur's Catharsis
After 40 years in the securities business (minus a few years running a political newsletter), Levitt apparently realized the entire game was rotten and he needed the catharis of telling us about it. This is a good book, if you are looking for a guide to investments and markets. It is written for the novice investor, so more experienced investors will probably skip some sections, such as the last chapter on 401k's. However, there are real insights here for everyone. I have a master's degree in finance and I picked up a few things as well. Levitt also tells his autobiographical story in some detail, with especially interesting sections on his long relationship with his former partner and boss, Sandy Weill, now Chairman of Citicorp. Levitt likes to exaggerate his common-man rags-to-riches lifestory, only occasionally mentioning that his father was NY State Controller for 30 years, while prefering stories of his school-teacher mother and immigrant grandparents. Levitt is also cagey about how he became SEC chairman, only mentioning that he played a minor role in raising money for Clinton in 1992.
Rating: 5 out of 5
Timely and Honest Assessment
The topics discussed in each chapter exudes the experience of the author. The down-to-earth narrative style used in the book makes it readable to even absolute novices in the investment domain. For the individual investor, three specific chapters are of utmost importance - the one on mutual funds, one on reading financial companies, and the one on 401 (k) plans. The rest of the chapters explain very convincingly the author's views on what is 'wrong' with the ways in which corporates and brokers make money. Arguably, there is nothing wrong with them trying to make a profit for their services, but the author questions the not-so-ethical ways in which it is done.The book also provides some insights as to who are the most "vocal", if not influential, U.S. Senators/Representatives for legislation concerning the problems identified by the author.
At various chapters, the author also provides some interesting websites that can aid any individual investor to know more about the ways in which corporates publish their earnings and income statements, and the ways in which brokers go about their business.
A must-read for anyone who has a single dollar in the financial market.
Rating: 5 out of 5
Fire your Merrill Lynch and Morgan Stanley brokers!
This book shows a lot of tricks your broker is probably using
to take advantage of you.
Your broker may act like you best friend but he may just be
really interested in gaining your trust so he can get away with
a lot of hidden fees in those ridiculously statesments they
send you.It's well know that Mogan Stanley and Merrill Lynch have been
fined repeatly for "not acting in the best interest of their
clients"
But this but revals some of the methods these full service
brokers use to rip off their client's money.<.....
The book gives plenty . examples of how a ruthless brokers
takes your money. ....
Read this book and his new book too,it's your money don't be a sucker.
Similar Products
The Medicaid Planning Handbook
Financial Shenanigans: How to Detect Accounting Gimmicks & Fraud in Financial Reports, Second Edition
Full Faith and Credit: The Great S & L Debacle and Other Washington Sagas
Take on the Street : How to Fight for Your Financial Future
Book Index