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Title: Does Your Broker Owe You Money? by Daniel R. Solin ISBN: 0028643909 Publisher: Alpha Books Pub. Date: 19 August, 2002 Format: Paperback Volumes: 1 List Price(USD): $21.95 |
Average Customer Rating: 3.91
Rating: 5
Summary: a must read for all retail investors
Comment: It will come as a great shock to most retail investors that their brokers add cost, not value. For all their claimed expertise, brokers' stock picks perform less well than if investors just bought and held a diversifiable portfolio with the correct mix of stocks and bonds. When brokerage firms extract 5, 10, or 15% per year from their customers' accounts in explicit and hidden costs without adding any value, they are simply reducing their customers' wealth by the amount of these costs. When brokerage firms encourage investors to hold poorly diversified portfolios in the face of the overwhelming evidence that brokerage firms' picks underperform the market portfolio, they expose investors to additional risk, risk for which the investor is not compensated. It is time that someone like Mr. Solin explained these simple, irrefutable facts to victims of brokerage firms' incompetent or fraudlent practices. His discussion of the undisclosed, pernicious conflicts of interest in the brokerage industry is especially timely.
This book tells investors how to avoid becoming a victim of brokers and what to do if they are already one. I particularly liked the real world stories of victimized investors which appear at the beginning of each chapter. I have been a finance academic, an SEC economist, an arbitrator and an expert witness for both brokers and customers and can attest that for many investors, this will be the most important book they ever read. It will be interesting to see the reaction of the brokerage community.
Rating: 5
Summary: Very Informative; Packed With Useful Information
Comment: I was very impressed by how Solin condensed complicated ideas (financial theory, legal theories, and the nuts and bolts of brokerage operations) into a highly readable text that is useful for both laymen and for lawyers who want a good overview of securities arbitration, causes of action, collectibility issues, etc. I would call this book a superb distillation of many of the concepts of an MBA-level Investment Theory course, a J.D.-level securities arbitration course, combined with a practical understanding of how brokerages operate. There is no doubt that most investors would do well to read Dan Solin's book.
Rating: 5
Summary: A must read for all investors
Comment: Mr. Solin's book is an indispensable guide to anyone with a brokerage account. For those who suspect wrongdoing on the part of their broker, this book is a roadmap to getting their money back. For investors looking to become better informed, Mr. Solin draws back the curtain on how Wall Street works revealing hidden costs and conflicts of interest that are rarely, if ever, disclosed by brokers.
As a twenty year veteran of Wall Street and as a secutities arbitration attorney, I can say without reservation that Mr.Solin's in depth analysis of broker behavior is right on target. This book is a must read for anyone with a brokerage account as well as any attorney who is new to the complex field of securities litigation/arbitration.
Congratulations to Mr. Solin for providing a much needed guide to uncovering and preventing broker fraud.
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Title: Brokerage Fraud by Tracy Pride Stoneman, Douglas J. Schulz ISBN: 0793145554 Publisher: Dearborn Trade Publishing Pub. Date: 15 November, 2001 List Price(USD): $24.95 |
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Title: How To Sue Your Stockbroker Without A Lawyer by James M. Punderson, Charles M. O'Rourke ISBN: 0966398904 Publisher: AllCourt Press, Ltd. Pub. Date: 01 June, 1998 List Price(USD): $49.95 |
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Title: The Great Mutual Fund Trap: An Investment Recovery Plan by Gregory Arthur Baer, Gary Gensler ISBN: 0767910710 Publisher: Broadway Books Pub. Date: 24 September, 2002 List Price(USD): $26.00 |
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Title: Take On the Street: What Wall Street and Corporate America Don't Want You to Know by Arthur Levitt, Paula Dwyer ISBN: 0375421785 Publisher: Pantheon Books Pub. Date: 08 October, 2002 List Price(USD): $24.95 |
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Title: The Four Pillars of Investing : Lessons for Building a Winning Portfolio by William J. Bernstein ISBN: 0071385290 Publisher: McGraw-Hill Trade Pub. Date: 26 April, 2002 List Price(USD): $27.95 |
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