Confessions of a Wall Street Analyst Quotes

“reciprocal purchase agreements” to generate more than one-fifth of its revenues. These agreements, also referred to commonly as “swaps,” were the ultimate addiction of many of the companies that flamed out so spectacularly in 2001 and 2002. Basically, a swap was an agreement by two companies to purchase goods or services from each other at the same time, inflating both companies’ revenues without any true economic purpose being fulfilled.”
― Daniel Reingold, Confessions of a Wall Street Analyst: A True Story of Inside Information and Corruption in the Stock Market

“accounting firms can be trusted to stand up for the investor and resign when a client insists on using improper accounting.”
― Daniel Reingold, Confessions of a Wall Street Analyst: A True Story of Inside Information and Corruption in the Stock Market

“we do not make negative or controversial comments about our clients as a matter of sound business practice.”3”
― Daniel Reingold, Confessions of a Wall Street Analyst: A True Story of Inside Information and Corruption in the Stock Market

“first, I was covering slow-moving stocks that didn’t fluctuate a lot; second, I was brand-new and no one was going to invest money on my recommendations yet; and third, I had presented an entirely well-reasoned but entirely unsexy report. It didn’t have any juice, any pop, any emotion, any insider-type info.”
― Daniel Reingold, Confessions of a Wall Street Analyst: A True Story of Inside Information and Corruption in the Stock Market

“life on the Street, with its uneven information flows, often rewarded the powerful and connected over the merely smart. It distorted the entire market in the process.”
― Daniel Reingold, Confessions of a Wall Street Analyst: A True Story of Inside Information and Corruption in the Stock Market

“Positive news would also be leaked but downplayed a bit, so that the stock would still see a decent bounce when the better-than-expected news hit. It”
― Daniel Reingold, Confessions of a Wall Street Analyst: A True Story of Inside Information and Corruption in the Stock Market

“If it had been a bad quarter, we needed to leak that information slowly and quietly, so that the stock would drop during the week or two before the earnings announcement,”
― Daniel Reingold, Confessions of a Wall Street Analyst: A True Story of Inside Information and Corruption in the Stock Market

“inscrutable.”
― Daniel Reingold, Confessions of a Wall Street Analyst: A True Story of Inside Information and Corruption in the Stock Market