Confessions of a Wall Street Analyst by Daniel Reingold [Biographies, epub/mobi/pdf] {G4mbl3R}

Reingold, a prominent Wall Street analyst from 1989 to 2003, sets out to give a first-person narrative about business fraud and scandal. Because the author began his career at MCI, he opens the book with the trial of WorldCom (MCI)'s Bernie Ebbers and the mid-2002 collapse of the company, caused by lies and deception, which resulted in the $180-billion decline in shareholder value and 30,000 employees fired. As a telecom analyst on Wall Street, it was his job to understand WorldCom's numbers, and he missed the manipulation, as did many others. Turning his focus toward Wall Street, the author reveals how it really works. Although there has been some cleanup, he contends there are still many leaks, conflicts, and abuses of the law and investor trust. He claims that the book's contents are true, and unfair and often-illegal use of inside information continues. He believes that the average investor can never win the stock-market game, which belongs to the insiders. Interesting insight. Mary Whaley