Confessions of a Stockbroker [Hardcover]

Andrew A. Lanyi (Author)

Book Description

Publication Date: August 27, 1992

In amusing and entertaining style, one of the most successful brokers in Wall Street's history reveals his tics, secrets, and methods. His specialty: picking undervalued stocks about to experience explosive growth.

Product Details

• Hardcover: 288 pages
• Publisher: Prentice Hall Press (August 27, 1992)
• Language: English
• ISBN-10: 0131757466
• ISBN-13: 978-0131757462
• Product Dimensions: 9.1 x 6 x 1.1 inches
• Shipping Weight: 1.4 pounds
• Average Customer Review: 2.6 out of 5 stars  See all reviews (12 customer reviews)
• Amazon Best Sellers Rank: #2,251,892 in Books (See Top 100 in Books)

More About the Author

Discover books, learn about writers, read author blogs, and more.

Customer Reviews

Most Helpful Customer Reviews

20 of 21 people found the following review helpful:

1.0 out of 5 stars Badly written, cliched, simplistic, October 22, 2000

By 

"pierce_inverarity" - See all my reviews

This review is from: Confessions of a Stockbroker (Hardcover)

Mr Lanyi sent me an autographed copy of this book in order to solicit me as a client for his private banking practice. I read it out of curiosity; it took me maybe an hour. I can't imagine how he could think that this book would bring him clients.

The book is written at a fifth-grade level, using simple sentences arranged into short paragraphs divided by asterisks. The biographical notes are standard Horatio Alger stuff about rags-to-riches; there is nothing telling or insightful in them, just many stretched analogies in which Mr Lanyi attempts to relate his life story to his investing philosophies. The investing methods presented are vague, cliched, and seem to concentrate on unheard-of small-cap stocks. Polanyi says "I look for companies that are growing," as if he were the first to come up with this idea.

Worst of all, this book emphasizes the stocks Mr Lanyi picked that ended up skyrocketing -- and there is nary a mention of the failures that even the best stock recommender has. Why doesn't Lanyi include an honest chart of how many successes and how many failures he's had? One would have to be very, very naive to think that Lanyi is telling the entire story when he talks about his successes.

Overall, I can't see anything of financial, educational, or literary value in this book. I thought about giving it away to a library, but I don't think financial misinformation such as this should be spread. This book may just end up in the mixed-paper recycling bin. For educational reading about stocks and stockbrokers, try "A Random Walk Down Wall Street," "Reminiscences of a Stock Operator," or "Where Are the Customers' Yachts?"

6 of 6 people found the following review helpful:

1.0 out of 5 stars Reflections of a reader, August 26, 2000

By 

r.egan (boston,ma) - See all my reviews

This review is from: Confessions of a Stockbroker (Hardcover)

This book is poorly written and edited. The middle section contains about 100 pages of obvious filler, consisting of descriptions and histories of several companies in which Mr. Lanyi's clients have supposedly invested. The author's attempts at humour are mostly shopworn cliches that grow tedious by the third or fourth chapter. Anyone looking for serious and intelligent investment advice would be well served by looking elsewhere. Confessions of a Stockbroker seems more of a marketing piece designed to get Mr. Lanyi more clients than an effort at educating or helping the average investor.

8 of 9 people found the following review helpful:

1.0 out of 5 stars Blue Chips or No Chips, October 10, 2000

By 

Fred Jones (Newark, NJ) - See all my reviews

This review is from: Confessions of a Stockbroker (Hardcover)

Not only is this book not very good, it could be dangerous to you investment health. The book is tedious, especially in the slow moving middle sections. In addition, Lanyi's simplistic approach to investing ignores the tremendous risks inherent in buying small cap stocks. My advice to him: save your "confessions" for people not interested in making money in the stock market.