- Paperback: 401 pages
- Publisher: Grove Press; First Edition edition (1971)
- Language: English
- ASIN: B000H5LMV4
- Product Dimensions: 9.1 x 6.3 x 1.3 inches
- Shipping Weight: 1.8 pounds
- Average Customer Review: 4.2 out of 5 stars See all reviews (8 customer reviews)
- Amazon Best Sellers Rank: #1,931,150 in Books (See Top 100 in Books)
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The Wall Street Jungle Paperback – 1971
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Top Customer Reviews
Richard Ney majored in Economics at Columbia University. He became an actor (`Mrs. Miniver') then an "investment adviser". Ney predicted the stock market crash of May 1962. The `Preface' says the investment business is a practical means of making money for those with a talent for doing this. Money gives status and power that is unique in our society. The procedures of the Stock Exchange benefit its financial establishment at the expense of individual investors. There is more larceny in the New York Stock Exchange (NYSE) than any other place in the world (p.8). It is so powerful that it is identical to government itself.
Many people believe that stock prices result from the actions of buyers and sellers. This is not so (Chapter 1). Ney says specialists manipulate the prices (p.16). They control the buying and selling of their stocks (p.17). There is a conflict of interest between the specialist and his customers (p.18). Are prices rigged to favor the specialist (p.19)? After the assassination of JFK specialists profited when individual investors lost. When caught, the super-rich avoid punishment (p.21). The financial power and political control over economic resources by the NYSE are related to the big money institutions that use it for buying and selling (p.24). The NYSE buys off Senators, Congressmen, and even a Supreme Court Justice (p.25). Insiders are able to profit when a stock falls in value (p.26). The greatest advantage for a specialist is their control over sales and the knowledge of prices (Chapter 2). Demand for a stock may tend to send its price down (p.31). Ney explains how prices can be manipulated (pp.34-35). One example is on page 40. Did insider knowledge cause a drop in the price (p.44)?Read more ›
The "Wall Street Jungle" shows with facts and great research as well as examples of who is really behind the movements both up and down and the "Insiders" who benefit themselves at the expense of the Investors they are supposed to be protecting. Great Job.
Most Recent Customer Reviews
I love books that expose Wall Street's ways. My review is more historical in how Ney's great book fits with another giant who also took on Wall Street's gambling habits, Jack... Read morePublished 14 months ago by Steve Schullo
book was in great condition,it confirmed what I had read 35 years ago and now charting agin.Published 19 months ago by michael ritchie