This is the first review of my new book Backstage Wall Street (that I know of) and it’s a good one!
From Brenda Jubin at Reading the Markets:
Joshua M. Brown of TheReformedBroker.com reveals “the reality behind all the false glamour, contrived accuracy, and manufactured confidence” in Backstage Wall Street: An Insider’s Guide to Knowing Who to Trust, Who to Run From, and How to Maximize Your Investments (McGraw-Hill, 2012). Brown escaped from the brokerage business in 2010 after a decade of being in “the very worst profession in all of financial services.” As he writes, “I will starve on the street before I will ever be a retail stockbroker again.” (p. 34)
By relating in graphic detail how brokers’ interests were misaligned with their clients’, Brown brings to life a story that investors may have heard before but most likely didn’t heed sufficiently. He explains how ordinary folks got involved in the stock market in the first place, how financial entrepreneurs created enticing investment products (think mutual funds and ETFs), and how stock brokers didn’t care what they sold—they just had to sell, sell, sell.