Investment pro Michael J. Panzner offers an insider’s guide to Wall Street that will appeal to investors on several levels. He starts with easy-to-comprehend definitions of stock market terms such as "short-selling" and "equity-derivative products," and advances to more sophisticated concepts. With his down-to-earth approach, he demystifies the jargon, hype and superfluous data. What’s more, he provides an excellent account of the historical factors and recent innovations that have altered global finance. His "10 laws of the new investment universe" are useful and comprehensive. Unfortunately, Panzner tends to glorify the past, glossing over well-documented foibles to focus on modern sins. Still, he provides a frank and insightful view of Wall Street’s seductive lure. getAbstract.com recommends this book to investors who want to understand today’s market.
In this summary, you will learn
- What 10 new laws govern the modern equity market;
- Why the time-honored stock market strategy of buy-and-hold no longer works;
- Why large-scale and institutional investors have historically dominated the investment playing field; and
- How to establish a prudent investment strategy.
About the Author
Michael J. Panzner has worked as a salesman and a trader specializing in bonds, stocks and currency for international investment companies He has written for Barron’s, TheStreet.com, Bloomberg and Business Credit and Management Review. He is currently a vice president of an international financial services firm.