History of Greed: Financial Fraud from Tulip Mania to Bernie Madoff (英語) ハードカバー – 2010/9/7
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Praise for HISTORY OF GREED
"David Sarna is a visionary technologist. He is also a sophisticated investor and financier. He has written a readable, comprehensive, fascinating, and well-researched book that explores troublesome aspects of the financial system in a way only an experienced insider could."
—Jay N. Goldberg, Senior Managing Director, Hudson Ventures
"A comprehensive review of what has happened to us in our financial markets over and over and over and over again. It's an important history, written with wit and delivered with wisdom. Undoubtedly, History of Greed will become required reading for anyone serious about understanding the capital markets."
—Frederick L. Gorsetman, Founder and Managing Member, Oxbridge Financial Group, LLC
400 years of financial fraud in the making
From the earliest financial scams of the seventeenth century, through the headline-grabbing Wall Street scandals of our times, History of Greed provides a comprehensive history of financial fraud. In it, David E. Y. Sarna exposes the true and often riveting stories of how both naïve and sophisticated investors alike were fooled by unscrupulous entrepreneurs, lawyers, hedge fund managers, CPAs, Texas billionaires, political fundraisers, music managers, financial advisers, and even former Mossad agents. From the people behind the financial fraud and how they did it to why people continually fall prey to scam artists, Sarna outlines what actions you can take today to protect yourself from becoming the victim of tomorrow's "too good to be true" investment opportunity. History of Greed details how markets are manipulated, books are cooked, Ponzi schemes are hatched, and how the government only closes the barn door once the cows have all escaped.
It is sure to make any reader gasp at the sheer inventiveness and persistence of the world′s fraudsters. (Irish Independent.ie, january 2011). a potted history of human greed is indeed to be found here . (Diplomat, February 2011). a great addition to the library of the investor, historian and psychologist alike. (UK–Analyst.com, March 2011).商品の説明をすべて表示する
The History of Greed: Financial Fraud for Tulip Mania to Bernie Madoff by David Sarna was an informative and enlightening book to read. I don't typically read books like this but was curious about everything that happened. The book has a detailed index and is thoroughly annotated.
It is simple enough for someone like me to be able to understand what happened and why. The author uses stories and descriptions to make a subject matter that is really complex something I could imagine, see, and feel.
At the same time there are complexities to his explanations that will interest and engage any student of economics and history. If you believe, like I do, that we can learn from our mistakes, people can use this as an important addition to their library. The author goes back through history to describe fraud and the many ways people are cheated.
The descriptions are sometimes hard to swallow but after reflection the reader will realize that they are on target. Whether exploring human motivations or actual criminal behavior the author leads you through what happened and how we got here.
Another technique Sarna uses is case studies. A case study gives a total view of what goes on when a person is being cheated and how. I particularly like the case study of `Crazy Eddie'.
Other chapters explain the complexities of the stock market. It also explains the difference between what instruments that were used and how they should have been used. The many, many ways they were misused are explored in different chapters. Finally at the end of the book there is an afterword devoted to what is our response has been to these issues.
The author in brief, on topic and focused chapters lays out the history of financial fraud over the last three centuries.
The author draws heavily in his lessons on his family and culture, but that makes this book highly readible. It is not a dry, overly scientific business treatise. But an easy to read, carefully researched and well organized chronology on how financial fraud did not originate with Madoff, but has a history and successful history at that.
Besides a history lesson, every reader of this outstanding book should in keep in mind the lessons it teaches. Foremost, if it sounds to good to be true, do not invest, but take your money and run. Because of you do not, the so-called financial wizard that promises these sure bet investment will run with your money.
I highly recommend this book to any reader who is planning to invest in the stock market and may play with the idea of seeking advice from third parties on investments. It has been a booming business for three centuries, why should financial fraud stop now. So investor, better watch out.
Madoff, as becomes clear in this book, was not the first financial adviser that used the naivete of investors to defraud them and put more money that most of us can comprehend into his pockets and Madoff will likely not be the last. This book is a series of more than thirty chapters that guide the reader through the history of financial fraud. In between the history lessons, the author includes additional lessons dealing with principles of finance such as insider trading. The reader gets a chance to analyze the various situations and decide how they would act and what is considered legal and when the line is crossed and financial fraud starts.
And while this book is a history of financial fraud, it is firstly intended to be a means to teach the reader the lesson on how to spot financial fraud and to apply the law of investing to situations he may encounter when talking with advisers about investing.
This is an excellent book, both as a history of financial fraud and as a how-to book on aiding the reader in spotting financial fraud.