Flash Boys: A Wall Street Revolt Book

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Flash Boys: A Wall Street Revolt

By Michael Lewis
  • Format : Pdf, ePub, Mobi, Kindle
  • Publisher : W. W. Norton & Company
  • Isbn : 0393244679
  • Pages : 304
  • Category : Business & Economics
  • Reads : 983
  • File Pdf: flash-boys.pdf

Book Summary:

#1 New York Times Bestseller — With a new Afterword "Guaranteed to make blood boil." —Janet Maslin, New York Times In Michael Lewis's game-changing bestseller, a small group of Wall Street iconoclasts realize that the U.S. stock market has been rigged for the benefit of insiders. They band together—some of them walking away from seven-figure salaries—to investigate, expose, and reform the insidious new ways that Wall Street generates profits. If you have any contact with the market, even a retirement account, this story is happening to you.

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From Wall Street to Bay Street

By Joe Martin,Chris Kobrak
  • Format : Pdf, ePub, Mobi, Kindle
  • Publisher : University of Toronto Press
  • Isbn : 1442616326
  • Pages : 416
  • Category : Business & Economics
  • Reads : 296
  • File Pdf: from-wall-street-to-bay-street.pdf

Book Summary:

The 2008 financial crisis rippled across the globe and triggered a worldwide recession. Unlike the American banking system which experienced massive losses, takeovers, and taxpayer funded bailouts, Canada’s banking system withstood the crisis relatively well and maintained its liquidity and profitability. The divergence in the two banking systems can be traced to their distinct institutional and political histories. From Wall Street to Bay Street is the first book for a lay audience to tackle the similarities and differences between the financial systems of Canada and the United States. Christopher Kobrak and Joe Martin reveal the different paths each system has taken since the early nineteenth-century, despite the fact that they both originate from the British system. The authors trace the roots of each country’s financial systems back to Alexander Hamilton and insightfully argue that while Canada has preserved a Hamiltonian financial tradition, the United States has favoured the populist Jacksonian tradition since the 1830s. The sporadic and inconsistent fashion in which the American system have changed over time is at odds with the evolutionary path taken by the Canadian system. From Wall Street to Bay Street offers a timely and accessible comparison of financial systems that reflects the political and cultural milieus of two of the world’s top ten economies.

The Money Culture

By Michael Lewis
  • Format : Pdf, ePub, Mobi, Kindle
  • Publisher : W. W. Norton & Company
  • Isbn : 9780393066791
  • Pages : 298
  • Category : Biography & Autobiography
  • Reads : 235
  • File Pdf: the-money-culture.pdf

Book Summary:

The classic warts-and-all portrait of the 1980s financial scene. The 1980s was the most outrageous and turbulent era in the financial market since the crash of '29, not only on Wall Street but around the world. Michael Lewis, as a trainee at Salomon Brothers in New York and as an investment banker and later financial journalist, was uniquely positioned to chronicle the ambition and folly that fueled the decade.

Confessions of a Wall Street Analyst

By Daniel Reingold,Jennifer Reingold
  • Format : Pdf, ePub, Mobi, Kindle
  • Publisher : Harper Collins
  • Isbn : 0061740772
  • Pages : 384
  • Category : Business & Economics
  • Reads : 225
  • File Pdf: confessions-of-a-wall-street-analyst.pdf

Book Summary:

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.

The Premonition: A Pandemic Story

By Michael Lewis
  • Format : Pdf, ePub, Mobi, Kindle
  • Publisher : W. W. Norton & Company
  • Isbn : 0393881563
  • Pages : 320
  • Category : Political Science
  • Reads : 312
  • File Pdf: the-premonition.pdf

Book Summary:

New York Times Bestseller For those who could read between the lines, the censored news out of China was terrifying. But the president insisted there was nothing to worry about. Fortunately, we are still a nation of skeptics. Fortunately, there are those among us who study pandemics and are willing to look unflinchingly at worst-case scenarios. Michael Lewis’s taut and brilliant nonfiction thriller pits a band of medical visionaries against the wall of ignorance that was the official response of the Trump administration to the outbreak of COVID-19. The characters you will meet in these pages are as fascinating as they are unexpected. A thirteen-year-old girl’s science project on transmission of an airborne pathogen develops into a very grown-up model of disease control. A local public-health officer uses her worm’s-eye view to see what the CDC misses, and reveals great truths about American society. A secret team of dissenting doctors, nicknamed the Wolverines, has everything necessary to fight the pandemic: brilliant backgrounds, world-class labs, prior experience with the pandemic scares of bird flu and swine flu…everything, that is, except official permission to implement their work. Michael Lewis is not shy about calling these people heroes for their refusal to follow directives that they know to be based on misinformation and bad science. Even the internet, as crucial as it is to their exchange of ideas, poses a risk to them. They never know for sure who else might be listening in.

The Predators' Ball

By Connie Bruck
  • Format : Pdf, ePub, Mobi, Kindle
  • Publisher : Simon and Schuster
  • Isbn : 1476737711
  • Pages : 400
  • Category : Biography & Autobiography
  • Reads : 542
  • File Pdf: the-predators-ball.pdf

Book Summary:

An insightful portrait of junk-bond powerhouse Drexel Burnham Lambert and infamous financier Michael Milken, “one of the most brilliant minds ever to have been dedicated to Wall Street's money games.” (The New York Times). Milken is purported to have offered to pay award-winning journalist Connie Bruck to stop work on this book, the fascinating story of how a singularly brilliant and intensely private investment banker essentially masterminded the creation of the junk bond market, generating billions of dollars in profits for his clients and himself before ultimately being brought down by charges of insider trading, stock manipulation, and fraud under the RICO Act. Bruck’s in-depth narration of the phenomenal career of the man nicknamed “the Junk Bond King” spans Milken’s early dealings in high-yield bonds as well as numerous corporate raids and hostile takeovers guided by tactics that were undoubtedly revolutionary, if sometimes unethical—and occasionally outright illegal. Standing alongside other blockbuster tales of business malfeasance such as Liar’s Poker and Too Big to Fail, The Predators’ Ball is a shocking, bemusing, and enlightening portrait of an era when it seemed anything was possible on Wall Street—as long as Michael Milken was in your Rolodex.

Money and Power

By William D. Cohan
  • Format : Pdf, ePub, Mobi, Kindle
  • Publisher : Anchor
  • Isbn : 0385534973
  • Pages : 400
  • Category : Business & Economics
  • Reads : 697
  • File Pdf: money-and-power.pdf

Book Summary:

The bestselling author of the acclaimed House of Cards and The Last Tycoons turns his spotlight on to Goldman Sachs and the controversy behind its success. From the outside, Goldman Sachs is a perfect company. The Goldman PR machine loudly declares it to be smarter, more ethical, and more profitable than all of its competitors. Behind closed doors, however, the firm constantly straddles the line between conflict of interest and legitimate deal making, wields significant influence over all levels of government, and upholds a culture of power struggles and toxic paranoia. And its clever bet against the mortgage market in 2007—unknown to its clients—may have made the financial ruin of the Great Recession worse. Money and Power reveals the internal schemes that have guided the bank from its founding through its remarkable windfall during the 2008 financial crisis. Through extensive research and interviews with the inside players, including current CEO Lloyd Blankfein, William Cohan constructs a nuanced, timely portrait of Goldman Sachs, the company that was too big—and too ruthless—to fail.

Naked, Short and Greedy

By Susanne Trimbath
  • Format : Pdf, ePub, Mobi, Kindle
  • Publisher : Spiramus Press Ltd
  • Isbn : 1910151831
  • Pages : 372
  • Category : Business & Economics
  • Reads : 841
  • File Pdf: naked-short-and-greedy.pdf

Book Summary:

Rigged financial markets and hopeless under-regulation on Wall Street are not new problems. In this book, Susanne Trimbath gives a sobering account of naked short selling, the failure to settle, and her efforts over decades, trying to get this fixed. Twenty-five years ago, Trimbath was working “backstage at Wall Street” when a group of corporate trust specialists told her about a problem in shareholder voting rights. When she went to senior management at Depository Trust Company (DTC), then and still the largest securities depository in the world, they brushed it off saying, “You can’t balance the world.” Ten years later, a lawyer from Texas would tell her that the same problem was about to blow up the financial markets: Wall Street brokers are using short sales and fails to deliver to grab the assets of American entrepreneurs. This is a cautionary tale. What started as a regulatory failure turned into a regulatory crisis. Shareholder democracy is in shambles. The institutions that were established to correct a problem of trade settlement failures have instead exacerbated the problem. Global financial markets may not survive what comes next.

Liar's Poker (25th Anniversary Edition): Rising Through the Wreckage on Wall Street (25th Anniversary Edition)

By Michael Lewis
  • Format : Pdf, ePub, Mobi, Kindle
  • Publisher : W. W. Norton & Company
  • Isbn : 0393247147
  • Pages : 320
  • Category : Biography & Autobiography
  • Reads : 954
  • File Pdf: liar-s-poker.pdf

Book Summary:

The time was the 1980s. The place was Wall Street. The game was called Liar’s Poker. Before there was Flash Boys and The Big Short, there was Liar's Poker. A knowing and unnervingly talented debut, this insider’s account of 1980s Wall Street excess transformed Michael Lewis from a disillusioned bond salesman to the best-selling literary icon he is today. Together, the three books cover thirty years of endemic global corruption—perhaps the defining problem of our age—which has never been so hilariously skewered as in Liar's Poker, now in a twenty-fifth-anniversary edition with a new afterword by the author. It was wonderful to be young and working on Wall Street in the 1980s: never before had so many twenty-four-year-olds made so much money in so little time. After you learned the trick of it, all you had to do was pick up the phone and the money poured in your lap. This wickedly funny book endures as the best record we have of those heady, frenzied years. In it Lewis describes his own rake’s progress through a powerful investment bank. From an unlikely beginning (art history at Princeton?) he rose in two short years from Salomon Brothers trainee to Geek (the lowest form of life on the trading floor) to Big Swinging Dick, the most dangerous beast in the jungle, a bond salesman who could turn over millions of dollars' worth of doubtful bonds with just one call. As he has continued to do for a quarter century, Michael Lewis here shows us how things really worked on Wall Street. In the Salomon training program a roomful of aspirants is stunned speechless by the vitriolic profanity of the Human Piranha; out on the trading floor, bond traders throw telephones at the heads of underlings and Salomon chairmen Gutfreund challenges his chief trader to a hand of liar’s poker for one million dollars.

The Last Great Road Bum

By Héctor Tobar
  • Format : Pdf, ePub, Mobi, Kindle
  • Publisher : MCD
  • Isbn : 0374720401
  • Pages : 416
  • Category : Fiction
  • Reads : 552
  • File Pdf: the-last-great-road-bum.pdf

Book Summary:

One of the Los Angeles Times Top 10 California Books of 2020. One of Publishers Weekly’s Top 10 Fiction Books from 2020. Longlisted for the Carnegie Medal for Excellence and the Joyce Carol Oates prize. One of Exile in Bookville’s Favorite Books of 2020. In The Last Great Road Bum, Héctor Tobar turns the peripatetic true story of a naive son of Urbana, Illinois, who died fighting with guerrillas in El Salvador into the great American novel for our times. Joe Sanderson died in pursuit of a life worth writing about. He was, in his words, a “road bum,” an adventurer and a storyteller, belonging to no place, people, or set of ideas. He was born into a childhood of middle-class contentment in Urbana, Illinois and died fighting with guerillas in Central America. With these facts, acclaimed novelist and journalist Héctor Tobar set out to write what would become The Last Great Road Bum. A decade ago, Tobar came into possession of the personal writings of the late Joe Sanderson, which chart Sanderson’s freewheeling course across the known world, from Illinois to Jamaica, to Vietnam, to Nigeria, to El Salvador—a life determinedly an adventure, ending in unlikely, anonymous heroism. The Last Great Road Bum is the great American novel Joe Sanderson never could have written, but did truly live—a fascinating, timely hybrid of fiction and nonfiction that only a master of both like Héctor Tobar could pull off.

Internment

By Samira Ahmed
  • Format : Pdf, ePub, Mobi, Kindle
  • Publisher : Little, Brown Books for Young Readers
  • Isbn : 031652266X
  • Pages : 400
  • Category : Young Adult Fiction
  • Reads : 353
  • File Pdf: internment.pdf

Book Summary:

An instant New York Times bestseller! "Internment sets itself apart...terrifying, thrilling and urgent."--Entertainment Weekly Rebellions are built on hope. Set in a horrifying near-future United States, seventeen-year-old Layla Amin and her parents are forced into an internment camp for Muslim American citizens. With the help of newly made friends also trapped within the internment camp, her boyfriend on the outside, and an unexpected alliance, Layla begins a journey to fight for freedom, leading a revolution against the camp's Director and his guards. Heart-racing and emotional, Internment challenges readers to fight complicit silence that exists in our society today.

Summary: Flash Boys

By BusinessNews Publishing
  • Format : Pdf, ePub, Mobi, Kindle
  • Publisher : Must Read Summaries
  • Isbn : 2511035758
  • Pages : 9
  • Category : Biography & Autobiography
  • Reads : 722
  • File Pdf: summary.pdf

Book Summary:

The must-read summary of Michael Lewis' book: "Flash Boys: A Wall Street Revolt". This complete summary of the ideas from Michael Lewis' book: "Flash Boys" explains the increase of high-frequency trading (HFT) in the US market and Dan Spivey's project to connect a data centre in Chicago to a stock exchange in northern New Jersey by fibre optic cable. This summary points out the key ideas behind Lewis' book, such as the fact that speed has replaced the stability of the markets as the high-frequency traders' main objective. Added-value of this summary: • Save time • Understand the main indeas behind Lewis' book • Get an overview of high-frequency trading To learn more, read "Flash Boys" and discover more about high-frequency trading!

The Big Short: Inside the Doomsday Machine (movie tie-in)

By Michael Lewis
  • Format : Pdf, ePub, Mobi, Kindle
  • Publisher : W. W. Norton & Company
  • Isbn : 0393353168
  • Pages : 320
  • Category : Business & Economics
  • Reads : 397
  • File Pdf: the-big-short.pdf

Book Summary:

The #1 New York Times bestseller—Now a Major Motion Picture from Paramount Pictures From the author of The Blind Side and Moneyball, The Big Short tells the story of four outsiders in the world of high-finance who predict the credit and housing bubble collapse before anyone else. The film adaptation by Adam McKay (Anchorman I and II, The Other Guys) features Academy Award® winners Christian Bale, Brad Pitt, Melissa Leo and Marisa Tomei; Academy Award® nominees Steve Carell and Ryan Gosling. When the crash of the U.S. stock market became public knowledge in the fall of 2008, it was already old news. The real crash, the silent crash, had taken place over the previous year, in bizarre feeder markets where the sun doesn’t shine and the SEC doesn’t dare, or bother, to tread. Who understood the risk inherent in the assumption of ever-rising real estate prices, a risk compounded daily by the creation of those arcane, artificial securities loosely based on piles of doubtful mortgages? In this fitting sequel to Liar’s Poker, Michael Lewis answers that question in a narrative brimming with indignation and dark humor.

Issie and the Christmas Pony: Christmas Special (Pony Club Secrets)

By Stacy Gregg
  • Format : Pdf, ePub, Mobi, Kindle
  • Publisher : HarperCollins UK
  • Isbn : 000734144X
  • Pages : 176
  • Category : Juvenile Fiction
  • Reads : 616
  • File Pdf: issie-and-the-christmas-pony.pdf

Book Summary:

An extra-special Christmas story about Issie and her friends at pony club. With gymkhanas to win, rivals to defeat, mysteries to solve and ponies in danger to save – these books are perfect for all readers who love ponies.

Home Game: An Accidental Guide to Fatherhood

By Michael Lewis
  • Format : Pdf, ePub, Mobi, Kindle
  • Publisher : W. W. Norton & Company
  • Isbn : 9780393071382
  • Pages : 192
  • Category : Biography & Autobiography
  • Reads : 558
  • File Pdf: home-game.pdf

Book Summary:

The New York Times bestseller: “Hilarious. No mushy tribute to the joys of fatherhood, Lewis’ book addresses the good, the bad, and the merely baffling about having kids.”—Boston Globe When Michael Lewis became a father, he decided to keep a written record of what actually happened immediately after the birth of each of his three children. This book is that record. But it is also something else: maybe the funniest, most unsparing account of ordinary daily household life ever recorded, from the point of view of the man inside. The remarkable thing about this story isn’t that Lewis is so unusual. It’s that he is so typical. The only wonder is that his wife has allowed him to publish it.

Getting Married

By Bernard Shaw
  • Format : Pdf, ePub, Mobi, Kindle
  • Publisher : Prabhat Prakashan
  • Isbn : N.a
  • Pages :
  • Category : Juvenile Fiction
  • Reads : 782
  • File Pdf: getting-married.pdf

Book Summary:

A comedy play by the renowned playwright George Bernard Shaw, '

Dark Pools and High Frequency Trading For Dummies

By Jay Vaananen
  • Format : Pdf, ePub, Mobi, Kindle
  • Publisher : John Wiley & Sons
  • Isbn : 1118879309
  • Pages : 240
  • Category : Business & Economics
  • Reads : 332
  • File Pdf: dark-pools-and-high-frequency-trading-for-dummies.pdf

Book Summary:

A plain English guide to high frequency trading and off-exchange trading practices In Dark Pools & High Frequency Trading For Dummies, senior private banker Jukka Vaananen has created an indispensable and friendly guide to what really goes on inside dark pools, what rewards you can reap as an investor and how wider stock markets and pricing may be affected by dark pools. Written with the classic For Dummies style that has become a hallmark of the brand, Vaananen makes this complex material easy to understand with an insider's look into the topic. The book takes a detailed look at the pros and the cons of trading in dark pools, and how this type of trading differs from more traditional routes. It also examines how dark pools are currently regulated, and how the regulatory landscape may be changing. Learn what types of dark pools exist, and how a typical transaction works Discover the rules and regulations for dark pools, and some of the downsides to trading Explore how dark pools can benefit investors and banks, and who can trade in them Recognize the ins and outs of automated and high frequency trading Because dark pools allow companies to trade stocks anonymously and away from the public exchange, they are not subject to the peaks and troughs of the stock market, and have only recently begun to take off in a big way. Written with investors and finance students in mind, Dark Pools & High Frequency Trading For Dummies is the ultimate reference guide for anyone looking to understand dark pools and dark liquidity, including the different order types and key HFT strategies.

The Buy Side

By Turney Duff
  • Format : Pdf, ePub, Mobi, Kindle
  • Publisher : Currency
  • Isbn : 0770437168
  • Pages : 320
  • Category : Biography & Autobiography
  • Reads : 266
  • File Pdf: the-buy-side.pdf

Book Summary:

NEW YORK TIMES BESTSELLER • A former Galleon Group trader portrays an after-hours Wall Street culture where drugs and sex are rampant and billions in trading commissions flow to those who dangle the most enticements. A remarkable writing debut, filled with indelible moments, The Buy Side shows as no book ever has the rewards—and dizzying temptations—of making a living on the Street. Growing up in the 1980’s Turney Duff was your average kid from Kennebunk, Maine, eager to expand his horizons. After trying – and failing – to land a job as a journalist, he secured a trainee position at Morgan Stanley and got his first feel for the pecking order that exists in the trading pits. Those on the “buy side,” the traders who make large bets on whether a stock will rise or fall, are the “alphas” and those on the “sell side,” the brokers who handle their business, are eager to please. How eager to please was brought home stunningly to Turney in 1999 when he arrived at the Galleon Group, a colossal hedge-fund management firm run by secretive founder Raj Rajaratnam. Finally in a position to trade on his own, Turney was encouraged to socialize with the sell side and siphon from his new broker friends as much information as possible. Soon he was not just vacuuming up valuable tips but also being lured into a variety of hedonistic pursuits. Naïve enough to believe he could keep up the lifestyle without paying a price, he managed to keep an eye on his buy-and-sell charts and, meanwhile, pondered the strange goings on at Galleon, where tens of millions were being made each week in sometimes mysterious ways. At his next positions, at Argus Partners and J.L. Berkowitz, Turney climbed to even higher heights – and, as it turned out, plummeted to even lower depths – as, by day, he solidified his reputation one of the Street’s most powerful healthcare traders, and by night, he blazed a path through the city’s nightclubs, showing off his social genius and voraciously inhaling any drug that would fill the void he felt inside. A mesmerizingly immersive journey through Wall Street’s first millennial decade, and a poignant self portrait by a young man who surely would have destroyed himself were it not for his decision to walk away from a seven-figure annual income, The Buy Side is one of the best coming-of-age-on-the-Street books ever written.

The Fifth Risk

By Michael Lewis
  • Format : Pdf, ePub, Mobi, Kindle
  • Publisher : W. W. Norton & Company
  • Isbn : 1324002654
  • Pages : 256
  • Category : Political Science
  • Reads : 905
  • File Pdf: the-fifth-risk.pdf

Book Summary:

New York Times Bestseller What are the consequences if the people given control over our government have no idea how it works? "The election happened," remembers Elizabeth Sherwood-Randall, then deputy secretary of the Department of Energy. "And then there was radio silence." Across all departments, similar stories were playing out: Trump appointees were few and far between; those that did show up were shockingly uninformed about the functions of their new workplace. Some even threw away the briefing books that had been prepared for them. Michael Lewis’s brilliant narrative takes us into the engine rooms of a government under attack by its own leaders. In Agriculture the funding of vital programs like food stamps and school lunches is being slashed. The Commerce Department may not have enough staff to conduct the 2020 Census properly. Over at Energy, where international nuclear risk is managed, it’s not clear there will be enough inspectors to track and locate black market uranium before terrorists do. Willful ignorance plays a role in these looming disasters. If your ambition is to maximize short-term gains without regard to the long-term cost, you are better off not knowing those costs. If you want to preserve your personal immunity to the hard problems, it’s better never to really understand those problems. There is upside to ignorance, and downside to knowledge. Knowledge makes life messier. It makes it a bit more difficult for a person who wishes to shrink the world to a worldview. If there are dangerous fools in this book, there are also heroes, unsung, of course. They are the linchpins of the system—those public servants whose knowledge, dedication, and proactivity keep the machinery running. Michael Lewis finds them, and he asks them what keeps them up at night.

The Seven Sins of Wall Street

By Bob Ivry
  • Format : Pdf, ePub, Mobi, Kindle
  • Publisher : PublicAffairs
  • Isbn : 161039366X
  • Pages : 304
  • Category : Business & Economics
  • Reads : 272
  • File Pdf: the-seven-sins-of-wall-street.pdf

Book Summary:

We all know that the financial crisis of 2008 came dangerously close to pushing the United States and the world into a depression rivaling that of the 1930s. But what is astonishing -- and should make us not just afraid but very afraid -- are the shenanigans of the biggest banks since the crisis. Bob Ivry passionately, eloquently, and convincingly details the operatic ineptitude of America's best-compensated executives and the ways the government kowtows to what it mistakenly imagines is their competence and success. Ivry shows that the only thing that has changed since the meltdown is how too-big-to-fail banks and their fellow travelers in Washington have nudged us ever closer to an even bigger economic calamity. Informed by deep reporting from New York, Washington, and the heartland, The Seven Sins of Wall Street, like no other book, shows how we're all affected by the financial industry's inhumanity. The transgressions of "Wall Street titans" and "masters of the universe" are paid for by real people. In fierce, plain English, Ivry indicts a financial industry that continues to work for the few at the expense of the rest of us. Problems that financiers deemed too complicated to be understood by ordinary folks are shown by Ivry to be financial legerdemain -- a smokescreen of complexity and jargon that hide the bankers' nefarious activities. The Seven Sins of Wall Street is irreverent and timely, an infuriating black comedy. The Great Depression of the 1930s moved the American political system to real reform that kept the finance industry in check. With millions so deeply affected since the crisis of 2008, you'll finish this book asking yourself how it is that so many of the nation's leading financial institutions remain such exasperating problem children.

Currency Wars

By James Rickards
  • Format : Pdf, ePub, Mobi, Kindle
  • Publisher : Penguin
  • Isbn : 110155889X
  • Pages : 320
  • Category : Business & Economics
  • Reads : 879
  • File Pdf: currency-wars.pdf

Book Summary:

In 1971, President Nixon imposed national price controls and took the United States off the gold standard, an extreme measure intended to end an ongoing currency war that had destroyed faith in the U.S. dollar. Today we are engaged in a new currency war, and this time the consequences will be far worse than those that confronted Nixon. Currency wars are one of the most destructive and feared outcomes in international economics. At best, they offer the sorry spectacle of countries' stealing growth from their trading partners. At worst, they degenerate into sequential bouts of inflation, recession, retaliation, and sometimes actual violence. Left unchecked, the next currency war could lead to a crisis worse than the panic of 2008. Currency wars have happened before-twice in the last century alone-and they always end badly. Time and again, paper currencies have collapsed, assets have been frozen, gold has been confiscated, and capital controls have been imposed. And the next crash is overdue. Recent headlines about the debasement of the dollar, bailouts in Greece and Ireland, and Chinese currency manipulation are all indicators of the growing conflict. As James Rickards argues in Currency Wars, this is more than just a concern for economists and investors. The United States is facing serious threats to its national security, from clandestine gold purchases by China to the hidden agendas of sovereign wealth funds. Greater than any single threat is the very real danger of the collapse of the dollar itself. Baffling to many observers is the rank failure of economists to foresee or prevent the economic catastrophes of recent years. Not only have their theories failed to prevent calamity, they are making the currency wars worse. The U. S. Federal Reserve has engaged in the greatest gamble in the history of finance, a sustained effort to stimulate the economy by printing money on a trillion-dollar scale. Its solutions present hidden new dangers while resolving none of the current dilemmas. While the outcome of the new currency war is not yet certain, some version of the worst-case scenario is almost inevitable if U.S. and world economic leaders fail to learn from the mistakes of their predecessors. Rickards untangles the web of failed paradigms, wishful thinking, and arrogance driving current public policy and points the way toward a more informed and effective course of action.

THE FUTURE IN AMERICA (Illustrated)

By H. G. Wells
  • Format : Pdf, ePub, Mobi, Kindle
  • Publisher : Musaicum Books
  • Isbn : 8027231779
  • Pages : 259
  • Category : Social Science
  • Reads : 855
  • File Pdf: the-future-in-america.pdf

Book Summary:

"The Future in America -A Search After Realities" is a 1906 travel essay by H. G. Wells recounting his impressions from the first of half a dozen visits he would make to the United States. Table of contents: Chapter I. The Prophetic Habit Of Mind Chapter II. Material Progress Chapter III. New York Chapter IV. Growth Invincible Chapter V. The Economic Process Chapter VI. Some Aspects Of American Wealth Chapter VII. Certain Workers Chapter VIII. Corruption Chapter IX. The Immigrant Chapter X. State-Blindness Chapter XI. Two Studies In Disappointment Chapter XII. The Tragedy Of Color Chapter XIII. The Mind Of A Modern State Chapter XIV. Culture Chapter XV. At Washington The Envoy Herbert George "H. G." Wells (1866 – 1946) was an English writer, now best known for his work in the science fiction genre. He was also a prolific writer in many other genres, including contemporary novels, history, politics and social commentary, even writing textbooks and rules for war games. Wells was now considered to be one of the world's most important political thinkers and during the 1920s and 30s he was in great demand as a contributor to newspapers and journals.

Why I Left Goldman Sachs

By Greg Smith
  • Format : Pdf, ePub, Mobi, Kindle
  • Publisher : Grand Central Publishing
  • Isbn : 1455527483
  • Pages : 288
  • Category : Business & Economics
  • Reads : 793
  • File Pdf: why-i-left-goldman-sachs.pdf

Book Summary:

On March 14, 2012, more than three million people read Greg Smith's bombshell Op-Ed in the New York Times titled "Why I Am Leaving Goldman Sachs." The column immediately went viral, became a worldwide trending topic on Twitter, and drew passionate responses from former Fed chairman Paul Volcker, legendary General Electric CEO Jack Welch, and New York City mayor Mike Bloomberg. Mostly, though, it hit a nerve among the general public who question the role of Wall Street in society -- and the callous "take-the-money-and-run" mentality that brought the world economy to its knees a few short years ago. Smith now picks up where his Op-Ed left off. His story begins in the summer of 2000, when an idealistic 21-year-old arrives as an intern at Goldman Sachs and learns about the firm's Business Principle #1: Our clients' interests always come first. This remains Smith's mantra as he rises from intern to analyst to sales trader, with clients controlling assets of more than a trillion dollars. From the shenanigans of his summer internship during the technology bubble to Las Vegas hot tubs and the excesses of the real estate boom; from the career lifeline he received from an NFL Hall of Famer during the bear market to the day Warren Buffett came to save Goldman Sachs from extinction-Smith will take the reader on his personal journey through the firm, and bring us inside the world's most powerful bank. Smith describes in page-turning detail how the most storied investment bank on Wall Street went from taking iconic companies like Ford, Sears, and Microsoft public to becoming a "vampire squid" that referred to its clients as "muppets" and paid the government a record half-billion dollars to settle SEC charges. He shows the evolution of Wall Street into an industry riddled with conflicts of interest and a profit-at-all-costs mentality: a perfectly rigged game at the expense of the economy and the society at large. After conversations with nine Goldman Sachs partners over a twelve-month period proved fruitless, Smith came to believe that the only way the system would ever change was for an insider to finally speak out publicly. He walked away from his career and took matters into his own hands. This is his story.

Moral Capitalism

By Steven Pearlstein
  • Format : Pdf, ePub, Mobi, Kindle
  • Publisher : St. Martin's Press
  • Isbn : 1250185998
  • Pages : 224
  • Category : Business & Economics
  • Reads : 499
  • File Pdf: moral-capitalism.pdf

Book Summary:

"If anyone can save capitalism from the capitalists, it’s Steven Pearlstein. This lucid, brilliant book refuses to abandon capitalism to those who believe morality and justice irrelevant to an economic system." —Ezra Klein, founder and editor-at-large, Vox Pulitzer Prize-winning economics journalist Steven Pearlstein argues that our thirty year experiment in unfettered markets has undermined core values required to make capitalism and democracy work. With a New Introduction by the Author Thirty years ago, “greed is good” and “maximizing shareholder value” became the new mantras woven into the fabric of our business culture, economy, and politics. Although, around the world, free market capitalism has lifted more than a billion people from poverty, in the United States most of the benefits of economic growth have been captured by the richest 10%, along with providing justification for squeezing workers, cheating customers, avoiding taxes, and leaving communities in the lurch. As a result, Americans are losing faith that a free market economy is the best system. In Moral Capitalism, Pulitzer Prize-winning journalist Steven Pearlstein chronicles our descent and challenges the theories being taught in business schools and exercised in boardrooms around the country. We’re missing a key tenet of Adam Smith’s wealth of nations: without trust and social capital, democratic capitalism cannot survive. Further, equality of incomes and opportunity need not come at the expense of economic growth. Pearlstein lays out bold steps we can take as a country: a guaranteed minimum income paired with universal national service, tax incentives for companies to share profits with workers, ending class segregation in public education, and restoring competition to markets. He provides a path forward that will create the shared prosperity that will sustain capitalism over the long term. Previously published as Can American Capitalism Survive?

What Works on Wall Street

By James P. O'Shaughnessy
  • Format : Pdf, ePub, Mobi, Kindle
  • Publisher : McGraw Hill Professional
  • Isbn : 0071469613
  • Pages : 366
  • Category : Business & Economics
  • Reads : 126
  • File Pdf: what-works-on-wall-street.pdf

Book Summary:

"A major contribution . . . on the behavior of common stocks in the United States." --Financial Analysts' Journal The consistently bestselling What Works on Wall Street explores the investment strategies that have provided the best returns over the past 50 years--and which are the top performers today. The third edition of this BusinessWeek and New York Times bestseller contains more than 50 percent new material and is designed to help you reshape your investment strategies for both the postbubble market and the dramatically changed political landscape. Packed with all-new charts, data, tables, and analyses, this updated classic allows you to directly compare popular stockpicking strategies and their results--creating a more comprehensive understanding of the intricate and often confusing investment process. Providing fresh insights into time-tested strategies, it examines: Value versus growth strategies P/E ratios versus price-to-sales Small-cap investing, seasonality, and more

Liquidated

By Karen Ho
  • Format : Pdf, ePub, Mobi, Kindle
  • Publisher : Duke University Press
  • Isbn : 0822391376
  • Pages : 389
  • Category : Social Science
  • Reads : 797
  • File Pdf: liquidated.pdf

Book Summary:

Financial collapses—whether of the junk bond market, the Internet bubble, or the highly leveraged housing market—are often explained as the inevitable result of market cycles: What goes up must come down. In Liquidated, Karen Ho punctures the aura of the abstract, all-powerful market to show how financial markets, and particularly booms and busts, are constructed. Through an in-depth investigation into the everyday experiences and ideologies of Wall Street investment bankers, Ho describes how a financially dominant but highly unstable market system is understood, justified, and produced through the restructuring of corporations and the larger economy. Ho, who worked at an investment bank herself, argues that bankers’ approaches to financial markets and corporate America are inseparable from the structures and strategies of their workplaces. Her ethnographic analysis of those workplaces is filled with the voices of stressed first-year associates, overworked and alienated analysts, undergraduates eager to be hired, and seasoned managing directors. Recruited from elite universities as “the best and the brightest,” investment bankers are socialized into a world of high risk and high reward. They are paid handsomely, with the understanding that they may be let go at any time. Their workplace culture and networks of privilege create the perception that job insecurity builds character, and employee liquidity results in smart, efficient business. Based on this culture of liquidity and compensation practices tied to profligate deal-making, Wall Street investment bankers reshape corporate America in their own image. Their mission is the creation of shareholder value, but Ho demonstrates that their practices and assumptions often produce crises instead. By connecting the values and actions of investment bankers to the construction of markets and the restructuring of U.S. corporations, Liquidated reveals the particular culture of Wall Street often obscured by triumphalist readings of capitalist globalization.

The Uncoupling

By Meg Wolitzer
  • Format : Pdf, ePub, Mobi, Kindle
  • Publisher : Penguin
  • Isbn : 1101486511
  • Pages : 304
  • Category : Fiction
  • Reads : 339
  • File Pdf: the-uncoupling.pdf

Book Summary:

From the New York Times-bestselling author of The Interestings and The Female Persuasion, a funny, provocative, revealing novel about female desire. When the elliptical new drama teacher at Stellar Plains High School chooses for the school play Lysistrata-the comedy by Aristophanes in which women stop having sex with men in order to end a war-a strange spell seems to be cast over the school. Or, at least, over the women. One by one throughout the high school community, perfectly healthy, normal women and teenage girls turn away from their husbands and boyfriends in the bedroom, for reasons they don't really understand. As the women worry over their loss of passion, and the men become by turns unhappy, offended, and above all, confused, both sides are forced to look at their shared history, and at their sexual selves in a new light. As she did to such acclaim with the New York Times bestseller The Ten-Year Nap, Wolitzer tackles an issue that has deep ramifications for women's lives, in a way that makes it funny, riveting, and totally fresh-allowing us to see our own lives through her insightful lens. Read an essay about writing The Uncoupling from the author, Meg Wolitzer.

Den of Thieves

By James B. Stewart
  • Format : Pdf, ePub, Mobi, Kindle
  • Publisher : Simon and Schuster
  • Isbn : 1439126208
  • Pages : 592
  • Category : True Crime
  • Reads : 298
  • File Pdf: den-of-thieves.pdf

Book Summary:

A #1 bestseller from coast to coast, Den of Thieves tells the full story of the insider-trading scandal that nearly destroyed Wall Street, the men who pulled it off, and the chase that finally brought them to justice. Pulitzer Prize–winner James B. Stewart shows for the first time how four of the eighties’ biggest names on Wall Street—Michael Milken, Ivan Boesky, Martin Siegel, and Dennis Levine —created the greatest insider-trading ring in financial history and almost walked away with billions, until a team of downtrodden detectives triumphed over some of America’s most expensive lawyers to bring this powerful quartet to justice. Based on secret grand jury transcripts, interviews, and actual trading records, and containing explosive new revelations about Michael Milken and Ivan Boesky written especially for this paperback edition, Den of Thieves weaves all the facts into an unforgettable narrative—a portrait of human nature, big business, and crime of unparalleled proportions.

Poorly Made in China

By Paul Midler
  • Format : Pdf, ePub, Mobi, Kindle
  • Publisher : John Wiley & Sons
  • Isbn : 1118004205
  • Pages : 272
  • Category : Business & Economics
  • Reads : 763
  • File Pdf: poorly-made-in-china.pdf

Book Summary:

An insider reveals what can—and does—go wrong when companies shift production to China In this entertaining behind-the-scenes account, Paul Midler tells us all that is wrong with our effort to shift manufacturing to China. Now updated and expanded, Poorly Made in China reveals industry secrets, including the dangerous practice of quality fade—the deliberate and secret habit of Chinese manufacturers to widen profit margins through the reduction of quality inputs. U.S. importers don’t stand a chance, Midler explains, against savvy Chinese suppliers who feel they have little to lose by placing consumer safety at risk for the sake of greater profit. This is a lively and impassioned personal account, a collection of true stories, told by an American who has worked in the country for close to two decades. Poorly Made in China touches on a number of issues that affect us all.

Discussion Materials

By Bill Keenan
  • Format : Pdf, ePub, Mobi, Kindle
  • Publisher : Post Hill Press
  • Isbn : 1642934097
  • Pages : 517
  • Category : Biography & Autobiography
  • Reads : 529
  • File Pdf: discussion-materials.pdf

Book Summary:

“Why aren’t you using LTM EBITDA for credit metrics?” asked the managing director who sat across from me, his widow’s peak clearly visible as he inspected the sheet in front of him. His spacious office looked out onto New York Harbor. “Bust,” said the vice president, who was a slightly younger, douchier version of Widow’s Peak. He slashed his red ballpoint pen across the sheet and flipped to the next page. “Walk me through the debt paydown and your interest rate assumptions,” continued the VP. “Pretty dovish view. Maybe the Fed knows what they’re doing after all,” said Widow’s Peak. He shot a glance at the VP. They shared a chuckle—at what, I couldn’t tell you. This question about interest rates I knew: Dovish, I thought. Doves fly south for the winter, so dovish is downwards…low interest rates— “We’re running short on time,” said Widow’s Peak. He flipped to the cover page of my presentation. “One final point—all pitch decks should have the same title.” “Since this presentation was geared towards an LBO analysis I was thinking—” “No thinking. All decks—same title—Discussion Materials.” Noted. Discussion Materials gives the reader an honest look at Wall Street from someone in the trenches. After graduating from Columbia Business School, Bill Keenan joined Deutsche Bank’s investment banking division as an associate where despotic superiors (and the blinking red light of his BlackBerry) instilled low-level terror on an hourly basis. You’ll join him in his cubicle on the 44th floor of 60 Wall Street as he scrambles to ensure floating bar charts are the correct shade of orange and all numbers are left-aligned, but whatever you do, don’t ask him what any of it means. Leaning heavily on his fellow junior bankers and the countless outsourcing resources the bank employs, he slowly develops proficiency at the job, eventually gaining traction and respect, one deal at a time, over a two-year span, ultimately cementing his legacy in the group by attaining the unattainable: placing a dinner order on Seamless one Sunday night at work from Hwa Yuan Szechuan amounting to $25.00 (tax and tip included), the bank’s maximum allowance for meals—the perfect order.

Social Physics

By Alex Pentland
  • Format : Pdf, ePub, Mobi, Kindle
  • Publisher : Penguin
  • Isbn : 1101625570
  • Pages : 320
  • Category : Science
  • Reads : 990
  • File Pdf: social-physics.pdf

Book Summary:

From one of the world’s leading data scientists, a landmark tour of the new science of idea flow, offering revolutionary insights into the mysteries of collective intelligence and social influence If the Big Data revolution has a presiding genius, it is MIT’s Alex “Sandy” Pentland. Over years of groundbreaking experiments, he has distilled remarkable discoveries significant enough to become the bedrock of a whole new scientific field: social physics. Humans have more in common with bees than we like to admit: We’re social creatures first and foremost. Our most important habits of action—and most basic notions of common sense—are wired into us through our coordination in social groups. Social physics is about idea flow, the way human social networks spread ideas and transform those ideas into behaviors. Thanks to the millions of digital bread crumbs people leave behind via smartphones, GPS devices, and the Internet, the amount of new information we have about human activity is truly profound. Until now, sociologists have depended on limited data sets and surveys that tell us how people say they think and behave, rather than what they actually do. As a result, we’ve been stuck with the same stale social structures—classes, markets—and a focus on individual actors, data snapshots, and steady states. Pentland shows that, in fact, humans respond much more powerfully to social incentives that involve rewarding others and strengthening the ties that bind than incentives that involve only their own economic self-interest. Pentland and his teams have found that they can study patterns of information exchange in a social network without any knowledge of the actual content of the information and predict with stunning accuracy how productive and effective that network is, whether it’s a business or an entire city. We can maximize a group’s collective intelligence to improve performance and use social incentives to create new organizations and guide them through disruptive change in a way that maximizes the good. At every level of interaction, from small groups to large cities, social networks can be tuned to increase exploration and engagement, thus vastly improving idea flow. Social Physics will change the way we think about how we learn and how our social groups work—and can be made to work better, at every level of society. Pentland leads readers to the edge of the most important revolution in the study of social behavior in a generation, an entirely new way to look at life itself.

David and Goliath

By Malcolm Gladwell
  • Format : Pdf, ePub, Mobi, Kindle
  • Publisher : Little, Brown
  • Isbn : 0316204382
  • Pages : 320
  • Category : Psychology
  • Reads : 650
  • File Pdf: david-and-goliath.pdf

Book Summary:

Explore the power of the underdog in Malcolm Gladwell's dazzling examination of success, motivation, and the role of adversity in shaping our lives, from the bestselling author of The Bomber Mafia. Three thousand years ago on a battlefield in ancient Palestine, a shepherd boy felled a mighty warrior with nothing more than a stone and a sling, and ever since then the names of David and Goliath have stood for battles between underdogs and giants. David's victory was improbable and miraculous. He shouldn't have won. Or should he have? In David and Goliath, Malcolm Gladwellchallenges how we think about obstacles and disadvantages, offering a new interpretation of what it means to be discriminated against, or cope with a disability, or lose a parent, or attend a mediocre school, or suffer from any number of other apparent setbacks. Gladwell begins with the real story of what happened between the giant and the shepherd boy those many years ago. From there, David and Goliath examines Northern Ireland's Troubles, the minds of cancer researchers and civil rights leaders, murder and the high costs of revenge, and the dynamics of successful and unsuccessful classrooms—all to demonstrate how much of what is beautiful and important in the world arises from what looks like suffering and adversity. In the tradition of Gladwell's previous bestsellers—The Tipping Point, Blink, Outliers and What the Dog Saw—David and Goliath draws upon history, psychology, and powerful storytelling to reshape the way we think of the world around us.