The Mind of Wall Street: A Legendary Financier on the Perils of Greed and the Mysteries of the Market

The Mind of Wall Street: A Legendary Financier on the Perils of Greed and the Mysteries of the Market

by Leon Levy, Eugene Linden
     
 

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"In The Mind of Wall Street, Levy takes a long and broad view of the rhythms of the markets and the economy, and his stories of past booms and busts, of financial chicanery and willful self-deception, evoke haunting comparisons with the world of Wall Street today. He also offers a provocative analysis of the spectacular Internet bubble, showing that we have yet to…  See more details below

Overview

"In The Mind of Wall Street, Levy takes a long and broad view of the rhythms of the markets and the economy, and his stories of past booms and busts, of financial chicanery and willful self-deception, evoke haunting comparisons with the world of Wall Street today. He also offers a provocative analysis of the spectacular Internet bubble, showing that we have yet to recover completely from our bout of "irrational exuberance." The current bear market, he argues, is likely to get worse before it gets better." Most of us are in the stock market, but few of us understand how it really works. The Mind of Wall Street explains the market's hidden dynamics and is essential reading for all of us, whether we are active traders or simply modest contributors to our 401(k) plans. As these volatile and unnerving markets come to define so much of our net worth, Leon Levy's reflections, observation, and admonitions have never been more timely.

Editorial Reviews

Forbes
The beauty of [Levy's book] is that you can hear how...Levy's mind works...the reader-investor gets more than his money's worth.
Publishers Weekly
This well-written investment book delivers both adventure and financial insight, offering an intriguing theory that blends economic fundamentals with a keen understanding of the stock market's many moods. Levy, a legendary Wall Street investor with more than 50 years of experience and the founder of Oppenheimer Funds, certainly has a firm intellectual grasp on the inner workings of the stock market, but also sees its psychological dynamic. He fleshes out this analysis of the markets and the economy from the 1950s to today with amusing and exciting financial stories. Early in his career, Levy piggybacked on corporate raids run by J. Paul Getty and Sy Scheuer. After helping to found Oppenheimer and later, Odyssey Partners, he had the capital to lead the way. He explains each investment story step-by-step, from initial research to acquiring positions and influence, fighting through defenses and counterattacks, and finally cashing out years later, usually-but not always-at a handsome profit. Interwoven throughout the financial dramas are character vignettes, autobiographical sketches, anecdotes and thoughtful digressions on Levy's philanthropy, social theories and market theories. (Nov.) Forecast: Levy's association with Oppenheimer Funds should reel in investment-minded readers, and strong word-of-mouth could bring it decent sales. Copyright 2002 Cahners Business Information.
Library Journal
Levy, one of the founders of the giant Oppenheimer Fund, offers a biography of his business life with lessons and opinions based on his over 50 years on Wall Street. Both a value investor and a contrarian, he strongly advocates reason and logic as a framework for risking his own money but repeatedly notes that investing is as much psychological as economic. Throughout his analysis, Levy blends in anecdotes from the Street to produce a short, well-written, and well-organized work. One of the better examples of this genre, this book will appeal to libraries that found John Neff on Investing popular. Recommended for all libraries with an investment interest.-Patrick J. Brunet, Western Wisconsin Technical Coll. Lib., LaCrosse Copyright 2003 Cahners Business Information.

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Product Details

ISBN-13:
9781586481032
Publisher:
PublicAffairs
Publication date:
10/17/2002
Edition description:
1ST
Pages:
240
Product dimensions:
6.42(w) x 9.60(h) x 0.93(d)

Meet the Author

Leon Levy began his career on Wall Street in 1948 and over the next five decades became a major figure in investment circles, helping to create Oppenheimer Mutual Funds and Odyssey Partners. He served as the president and founder of the Jerome Levy Institute for Economic Research at Bard College and the president of the Institute for Advanced Study. He died in April 2003.

Eugene Linden is a contributor for Time magazine and the author of seven previous books. He lives in Nyack, New York.

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