Trading Secrets

by R. Foster Winans

In 1983 the author of this book was an influential stock-market columnist on "The Wall Street Journal" through his column "Heard on the Street". He was approached by a stockbroker, Peter Brant, who suggested paying him for advance information on the stocks mentioned in the columns in order to exploit the influence of the column on stock market prices. This is Foster Winans' personal account of a notorious insider trading scandal for which he is now in jail and for which Peter Brant has been barred from the stockbroking business

Genres: Business, Fiction

304 pages, Hardcover

First published August 15, 1986

Reviews

[Jerry · Rating 5 out of 5]

After studying memoir writing in a workshop with Foster Winans, I naturally wanted to read his own memoir, Trading Secrets, about his life first as a Wallstreet Journal Columnist, one of the most highly respected journalist positions in the world. He chronicles his fall from grace, which reads like a detective story, as he turns his journalistic talents upon his own life. It is a wonderful cautionary tale showing the seduction that inside knowledge can have, especially for a young man who is looking for ways to please the rich and powerful. There are some fascinating psychological insights, not ones that you would read in a technical book, but the kind of psychology you find in a well told tale. In real life, Foster of course got out of jail, and brought his cautionary tale to others. I met him through a wonderful writing organization he started in Doylestown, Pennsylvania, (no longer in operation). His redemption for his sins was to give back to the community, and I am privileged to be one of the recipients of his generous service.

[Tom Wile · Rating 4 out of 5]

I read this book in the 80’s or early 90’s when I was bumming around bartending. I probably hadn’t read a book for fun since I was 12. It was easy to read and the language made the investing business easy to understand for the layperson.

Now I’ve been in the investment business for over 25 years. During the Covid-19 lockdown I remembered the name of the book and ordered it for a fresh read.

A true story about a journalist who violates his journalistic ethics to make a few bucks. Seems he was backed into a corner financially and the investment advisor involved ‘played’ him.

An easy read and a true story.

[Olga Vannucci · Rating 5 out of 5]

So smart and so clever,
Why didn't he say, "Never!"
His lax ethics deemed a crime
Ruined his life for quite some time.

[Tra · Rating 5 out of 5]

Not sure why:

1 This wasn’t mentioned in my journalism degree
2 Is out of print
3 And wasn’t made into a movie