By Martin Howell
ISBN-10: 0131402447
ISBN-13: 9780131402447
Hundreds of thousands of traders have already been victimized through the scams that have been Enron and Worldcom. And it is not over. thousands extra may be victimized by way of tomorrow's mega-billion-dollar monetary catastrophes. this is often the 1st entire, "no-sacred-cows" advisor to modern-day monetary scandals -- and to preserving your resources from tomorrow's. not like prior books, company Cheats is totally complete: it's not with regards to the net or telecom bubble, or Enron, or accounting fraud, or crooked CEOs and "see-no-evil" forums, or cheating analysts and funding homes: it is approximately all of those, and extra. Reuters fairness editor Martin Howell attracts on greater than 50 particular interviews with specialists in each part of the marketplace: prime brief dealers equivalent to James Chanos who observed the Enron catastrophe coming; long-time industry reform advocates reminiscent of Former Federal Reserve chair Paul Volker, marketplace psychologists, even deepest detectives. specifically, company Cheats is ready preserving your individual demanding received resources -- because you cannot depend upon someone else to do it for you.
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Additional resources for Predators and Profits: 100+ Ways for Investors to Protect Their Nest Eggs
Example text
In 2002, investors filed a record 7,704 new arbitration claims against brokers with the National Association of Securities Dealers, up 39 percent from two years earlier, alleging such misdemeanors as misrepresenting investments and conducting excessive trades to generate fees and commissions, which is known as churning. So, despite all the noise about risk controls and compliance systems, and all the huffing and puffing about disciplinary action and monitoring by the New York Stock Exchange, the SEC, and the National Association of Securities Dealers, the only regulator who is going to guarantee your investments won’t be hived off to a broker’s Cayman Islands account is staring back at you in the mirror every morning.
At the time of this writing, in February 2003, it was still unclear whether Stewart would face charges. Chapter 1 • Sages and Charlatans 13 Earlier in 2002, investors had also lost some confidence in Stewart’s company because the discount retailer that sells almost all its home products, Kmart, had filed for bankruptcy protection and had begun to close stores as it sought to restructure. Early in 2003, it announced further store closures. Again, there were too many eggs in one basket. So, always ask yourself whether a particular investment is so dependent on one individual that it could sink in value if that person falls under a bus or gets hauled off to jail.
Stewart, whose magazines, TV shows, and products target homemakers, is such a dominant force that there were questions over whether the company could survive without her. Investors began to realize that Stewart was the company and that there were no meaningful plans for succession, an impression the company had done little to counter. At the time of this writing, in February 2003, it was still unclear whether Stewart would face charges. Chapter 1 • Sages and Charlatans 13 Earlier in 2002, investors had also lost some confidence in Stewart’s company because the discount retailer that sells almost all its home products, Kmart, had filed for bankruptcy protection and had begun to close stores as it sought to restructure.
Predators and Profits: 100+ Ways for Investors to Protect Their Nest Eggs by Martin Howell
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