Take on the Street

  • by Arthur Levitt, Paula Dwyer
  • Narrated by Arthur Levitt
  • 6 hrs and 17 mins
  • Abridged Audiobook

Publisher's Summary

Investors today are fed lies and distortions while being exploited and neglected. In the wake of the last decade's rush to invest by millions of households and Wall Street's obsession with short-term performance, a culture of gamesmanship has grown among corporate management, financial analysts, brokers, and fund managers, making it difficult to tell financial fantasy from reality, salesmanship from honest advice.In Take on the Street, Arthur Levitt - former chairman of the Securities and Exchange Commission - shows how you can take matters into your own hands. At once anecdotal (names are named), informative, and prescriptive, Take on the Street expounds on, among other subjects: the conflicts of interest inherent in buy-hold-or-sell recommendations of analysts; the "seven deadly sins" of mutual funds; how accountants engage in legerdemain to fake impressive company performance; the real reason for the Street's hostility to full disclosure; the seduction by corporate management of boards of directors; and, given these shenanigans and double-dealings, some specific steps you can take to safeguard your financial future.With integrity and authority, Levitt gives us a bracing primer on the collapse of the system that oversees our capital markets, and essential advice on a discipline we often ignore to our peril - how not to lose money.

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What the Critics Say

"Should be mandatory...for anyone with a dollar invested in the stock market." (Publishers Weekly)
"Lively and illuminating....Blends backroom revelations of a first-rate political memoir with the no-nonsense advice of a basic investment primer." (The New York Times)

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Customer Reviews

Most Helpful

Self-promoting with no usable info

This book is great for anyone who wants to read about the history of the internet bubble and how Arthur Levitt is the self-proclaimed "nice guy" in the world and tried to save us with tons of regulation. The only real tips that you get in the book is to buy index funds. The rest of the time is spent bashing politicians and corporations in a very biased way. He is touting himself constantly with very little valuable info here. Save your money. Unless you are a big Levitt fan and want to hear him ramble about how he turned his life around for the good of the individual investor...
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- Sean

Enlightening for the average reader

Levitt covers relatively complex subjects on the industry, revealing to the average reader down-to-earth, sometimes shocking issues ranging from ones that can hurt the small investor directly such as the behavior of brokerages and funds to the ones that will affect him/her from the macro point of view, such as the complicated, ugly interaction among industry, government and regulators. He does all that in a clear, objective narrative that explains every financial jargon he uses in the description of the several cases.
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- AlephZero

Book Details

  • Release Date: 11-08-2002
  • Publisher: Random House Audio