Mugged on Wall Street: An Insider Shows How to Protect Yourself from the Financial Pros

Mugged on Wall Street: An Insider Shows How to Protect Yourself from the Financial Pros

by C. David Chase

Editorial Reviews

Publishers Weekly - Publisher's Weekly
Stockbroker Chase, a vice-president at E. F. Hutton, offers a chilling inside account of Wall Street brokerage firms, and how they often lose money for investors ``through well-hidden fees, incompetence and greed.'' He explains that in the unregulated 1980s, banks, insurance companies, lawyers and accountants now compete for ``planning'' fees and commissions on the sale of stocks, bonds, realty trusts, annuities and other financial instruments. Economists, investment letters and Wall Street prophets have been consistently wrong, argues the author, but there are ways that investors can knowledgeably set financial goals and judge specific investment choices. Chase recommends skeptical inquiry in many directions (``Don't trust anybody anymore'') in order to find an honest and competent broker with whom both parties can make money. An appendix of interest rates and investment results shows what's happened to date of an encouraging naturenot much. Author tour. (July 10)
Library Journal - Library Journal
Discount the ten percent sensationalism of this Wall Street expose and an informative, interesting books remains. It describes in detail the business operations of a broker, how commissions are generated and earned, and the role of money managers, financial planners, and market gurus. It concludes with a good chapter on dealing with a broker. The book is well written, though too much emphasis is placed on already well publicized abuses. A good acquisition for a public, college, or university library. Arthur J. Lieb, Library of Congress

Product Details

Simon & Schuster Adult Publishing Group
Publication date:
Edition description:
1st Fireside ed

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