Here is the genuine tale of a most sensible Wall highway player's transformation from a straight-arrow believer to a jaded cynic, who finds how Wall Street's insider online game is absolutely played.
Dan Reingold was once a most sensible Wall road analyst for fourteen years and Salomon Smith Barney analyst Jack Grubman's leader competitor within the red-hot region of telecom. Reingold was once a part of the "Street" and believed in it.
But during this action-packed, hugely own memoir written with comprehensive Fast Company senior author Jennifer Reingold the writer describes how his enthusiasm gave strategy to disgust as he realized how deeply corrupted Wall road and lots more and plenty of company the United States had turn into through the roaring inventory marketplace bubble of the 1990s.
Confessions of a Wall road Analyst presents a front-row seat at the most dramatic -- and eventually tragic -- sessions in monetary background. Reingold recounts his creation to the realm of Wall highway leaks and mystery deal-making; his reports with company fraud; and Wall Street's alarming penchant for lavish spending and multimillion-dollar pay packages.
Reingold spars with arch rival Grubman; fends off severe pressures from Wall highway bankers and company CEOs; and is wooed via Morgan Stanley's CEO, John Mack, and CSFB's über-banker Frank Quattrone.
Reingold describes circumstances during which personal bargains are whispered days sooner than their reputable statement. He recollects the instant he learns that Bernie Ebbers's WorldCom used to be vastly cooking its books. And he's stunned to were an unwitting catalyst for a chain of sexually specific e-mails that may rock Wall road; carry Jack Grubman to his knees; and give a contribution to the stepping apart of Grubman's boss, Citigroup CEO Sandy Weill.
Some of Reingold's tales are outrageous, others hilarious, and lots of are easily absurd. yet, jointly, they supply a sobering exposé of Wall highway: a jungle of greed and ego, a spot brimming with conflicts and within details, and a company absurdly out of contact with the most road it claims to serve.
He exhibits how executive investigators, headlines even though, by no means bought to the center of the moral and criminal transgressions of the period. and the way they thoroughly neglected Wall Street's pervasive use of inside of details, leaving traders -- even subtle pros -- cheated. The publication ends with a chain of vital coverage thoughts to scrub up the making an investment business.
In the culture of Liar's Poker and Den of Thieves, Confessions of a Wall road Analyst is a no-holds-barred insider's account that might open the eyes of each investor.