Lost Wall Street

Author: (USA) Erik Banks
Publisher:
Publish Date: 2006-10-01
Features: From the thunderous history, seek the classics; from the coagulating classics, retrieve the path to the future! "Hua'an Fund · World Capital Classics Translation Series" aims to sift through the complexities of the past, pick out the gold, and recreate the real historical scenes with vivid language, allowing readers to immerse themselves and experience the ups and downs and fierce struggles of the market. "War is deception." The market is no different. "The supreme art of war is to subdue the enemy without fighting." Undoubtedly, this series of books helps readers dispel the mist of the past and discover the wisdom and strategies that benefit the present. This book analyzes the failures of Wall Street in financing, providing corporate and personal financial advice, and risk management, and proposes countermeasures to avoid such failures. Its strength lies in its content derived from real Wall Street cases and its easy-to-understand narrative style. As the world's premier financial hub, Wall Street's reputation is as brilliant as a star. But even more astonishing is that behind this starlit path, Wall Street has alsoed itself. Indeed, Wall Street has made serious mistakes—in fundraising, consulting, and risk management, it has failed to fulfill its duties and has often shown deceit. To this end, "The Lost Wall Street" analyzes how and why Wall Street made these errors and omissions and offers some suggestions for improving them. After briefly explaining the role of Wall Street in fundraising, providing financial advice for businesses and individuals, managing risks, and serving as a trustworthy financial analyst, author Erik Banks explores the major errors and omissions of Wall Street in these areas and uses case studies to analyze the underlying nature and severity of the problems. Perhaps to fully understand the brilliance of Wall Street, one cannot just focus on the wealth it has created but should also see the other side of the coin.
MIT Sloan School of Management Professor Andrew W. Lo, author of the renowned "The Non-Stationary Random Walk of the Stock Market," highly praises the book: "This book provides a profound revelation into the dark side of the financial industry, written by an experienced insider from Wall Street in an engaging way. He knows exactly which part of the Wall Street organism is flawed. To ignore this book would pose an undeniable danger to the health of investment."
Wall Street has shed its old skin and is now shining brilliantly!