License to Steal

by Harper, Timothy; Anonymous

• ISBN13: 9780887309922
• ISBN10: 0887309925
• Format: Hardcover
• Copyright: 1999-10-15
• Publisher: HarperCollins Publications

Summary

The Longest Bull Market in history has given rise to unprecedented levels of investing by the general public and unprecedented greed within the brokerage industry that "serves" those investors. Anonymous worked at several New York brokerage houses in the 1990s, where day after day he witnessed fellow brokers systematically ripping off their investors, until he finally quit the business in disgust. In License to Steal Anonymous breaks the financial industry's code of silence for the first time and, in a gripping and fast-paced narrative, shows readers how successful brokers on the "Street Without Shame" peddle overvalued stocks, mislead customers, and manipulate clients' investments into their own A mesmerizing tale of personal redemption, as well as a indictment of a corrupt and brutalizing system, License to Steal is a warning to the millions of American investors who trust and rely on stockbrokers for guidance on their own investments.

Author Biography

Anonymous has been a Wall Street senior vice president and broker. His career has taken him to numerous brokerage firms both large and small. Timothy Harper, a journalist and a lawyer is a member of the adjunct faculty at Columbia University. His stories on international business appear in newspapers and magazines around the world. He is the author of eight other books.

Table of Contents

Preface	vii
Thursday Night and Friday Morning	8	(11)
Conflict of Interest	19	(5)
A Born Broker	24	(8)
``Hello, I Can Make You Rich...''	32	(13)
If a Woman Answers, Hang Up	45	(10)
The Bald Shadow	55	(9)
Hidden Commissions	64	(10)
It's Our Money Now	74	(9)
Tony Galoshes	83	(10)
The Bond Play	93	(5)
On the Margin	98	(10)
On the Market	108	(8)
First Blood	116	(17)
SmallTech	133	(10)
The 50 Percent Broker	143	(8)
New Issue Whores	151	(11)
Alfred's Deal	162	(10)
Mr. Vice President	172	(12)
The Kid	184	(8)
Wary Buyers	192	(8)
The Dirty Dozen	200	(10)
Crossing, Churning, Parking	210	(12)
Prep School	222	(14)
Graduation	236	(11)
Boutique Firm	247	(13)
The Last Deal	260	(11)
Epilogue: The Aftermarket	271