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Backstage Wall Street: An Insider S Guide to Knowing Who to Trust, Who to Run From, and How to Maximize Your Investments
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Backstage Wall Street: An Insider S Guide to Knowing Who to Trust, Who to Run From, and How to Maximize Your Investments

3.74  ·  Rating Details  ·  148 Ratings  ·  14 Reviews
Chances are you haven t been making the best investing decisions.

[T]he always irreverent author of the Reformed Broker blog has written an excellent narrative that shares all of your broker s dirty little secrets. Much like Michael Lewis "Liar s Poker" captured the essence of 1980s institutional Wall Street, Brown s "Backstage
Hardcover, 256 pages
Published March 27th 2012 by McGraw-Hill Education (first published March 6th 2012)
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May 11, 2015 Martin rated it liked it
I certainly appreciated the irreverence in Brown's narratives. Although the book was written to be self-aggrandizing, he seems like an honest, aware guy, and it benefits that the writing was purportedly born out of catharsis. I learned some things that I should have known better - the difference between a broker and an advisor, how etf's compare to mutual funds, and a general summary of events and vocabulary in the finance world in the last 30 years. Nevertheless, most of the general lessons sho ...more
Jul 05, 2014 Min rated it liked it
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Jul 15, 2013 Richard rated it liked it
It would be a good idea for everyone who is or expects to be an investor (and that includes everyone who has a retirement account) to read this book. It won't take long; the book is rather short and it reads quickly. After you've gotten halfway through the book, if you find yourself thinking, I'm not learning much new here, then Congratulations! You are a reasonably cautious and knowledgeable investor. You passed the test. While reading, you might have found yourself reflecting on investing mist ...more
May 28, 2015 Jonathan rated it really liked it
Very entertaining. I think the oceanic metaphor is dead on. I would suggest that a big producer..who has a single sizable known as a narwhal!
Justin Kittle
Jan 29, 2014 Justin Kittle rated it it was amazing  ·  review of another edition
Great book

It was a nice "peek behind the curtain" of how Wall Street actually is. Great intro to Wall Street without getting too technical. Josh 's sense of humor makes it a fast read.
Apr 08, 2015 Marcin rated it really liked it
I was expecting more of personal experiences rather than what the industry looked like in general.
Cathi Davis
Jan 04, 2013 Cathi Davis rated it liked it
Easy to read. Follows the redemption plot. Would be more interesting if he perhaps cudgeled the New Wall Street hypocrites. Old WS is kind of an easy target at this point. Too bad his definitions didn't include these terms! It seems like everyone is bashing OWS. And claiming to be NWS these days. But if you read this AND his blog you will see he continues to skewer the pompous and self serving.
Brian G. Murphy
Nov 03, 2012 Brian G. Murphy rated it it was ok
Shelves: finance
Much of what this book discusses is now common knowledge, but seeing the numerous industry conflicts of interest in a neat — if a bit rough around the edges — narrative projects the enormity of the problem. Brown does a commendable job of highlighting these issues; after all, there's a big difference between being aware of corruption and actually having it laid out before you.
Dec 30, 2012 Steven rated it it was ok
Ten-word summary: Joshua Brown is great and honest, regular brokers are not.

If you are an idiot who has a broker who actually makes investing decisions for you, then you should read this book. If you are an educated investor, there is nothing valuable for you to learn here.
Jay Cunningham
Jun 10, 2012 Jay Cunningham rated it it was amazing
Really enjoyed this book. I am a rook at a warehouse firm and found it really entertaining and educational. Reads like a memoir so it doesn't have a ton of dry, analytical content. Great book for investors and reps to get a behind the scenes look at what makes Wall Street tick.
Kevin Way
Mar 28, 2015 Kevin Way rated it liked it
Shelves: finance
The title of this book isn't terribly accurate. It's a rough guide on "who to run from", but it doesn't get particularly far on "who to trust", and it never gets near "How to maximize your investments".
Zachary Shrier
Apr 12, 2012 Zachary Shrier rated it really liked it
Overall book is a fun look at the retail sales culture of Wall Street. Highlight of the book: Josh's revealing of the "sales script" that brokers use on prospective clients.
Brett Buch
Feb 03, 2015 Brett Buch rated it really liked it
Entertaining writer. The book makes you open your mind a bit and definitely has some useful information
Caroline Borrino
Dec 30, 2013 Caroline Borrino rated it it was amazing
The Reformed there such a thing?
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“Merrill Lynch lost $40 billion or so of its own money in 2008, and it wants to manage yours?” 1 likes
“Jimmy,” he shouts at a midlevel guy without even turning around to face us, “what business are we in?” Jimmy replies as if by rote, “We’re in the moving business.” Big Shot’s first syllable steps on the hem of Jimmy’s last: “Hear that, boys? We’re in the moving business, we ain’t in the storage business. You got a position not working out, today is when you sell it and you do that G. You write those tickets today no matter what, I don’t give a f*ck what story you need to tell.” 0 likes
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