Customer Reviews

Traders' Tales: A Chronicle of Wall Street Myths, Legends, and Outright Lies

5 star:		(1)
4 star:		(1)
3 star:		(1)
2 star:		(2)
1 star:		(4)

 

 

I can't understand why this book gets so many bad reviews. This book is not a book of interviews, a book on fundamental or technical analysis, a book about Warren Buffet or Peter Lynch's investing styles, or a book about timing the market. This is a storybook, plain and simple. And it is a good one at that. Because I'm very interested in the market I purchased this book expecting exactly what I got. Tongue-in-cheek stories from the trading floor. And despite what other reviewers say, there is plenty to be learned from this work. The section about Donald Trump getting sued was great. The Donald got exactly, just exactly, what he deserved. I recommend this book to anyone who wants to learn about the market from a personal and less technical perspective. I was tempted to forgo purchasing this book altogether after reading it's miserable reviews. But because I consider myself a contrarian investor, I thought what the hey and bought the book. And I'm glad I did.

Who says you always have to read about market strategy? After wading through those kinds of hefty tomes, I enjoy a break. Traders' Tales is just that. A delightful collection of stories that have you laughing out loud. (Any chance there will be another similar book)? This is a true gem, so lighten up a little and check out another side of the World of Finance.

Ron Insana is a fine CNBC commentator who has been instrumental in turning what had long been characterized as dry news for a select few into witty and insightful stock market reporting with mass market appeal. His first book, "Traders' Tales" tries to wow the reader with a bunch of gee-whiz stories, but there's just not much to impress in the way of secrets, outrage, shock value . . . whatever.

After being involved with the stock market for twenty years (the last fifteen as a professional), and thus being familiar with many names of those involved in the stories recounted by Mr. Insana, I still didn't find any story "tantalizing" or "shocking." Heck, anyone who's ever played on a sports team or in a rock 'n' roll band during high school could probably come up with ten crazier stories for every one in this book. Instead, I thought the more interesting reading was in the chapters that gave historical perspective to the careers of Muriel Siebert, Ron Baron, Peter Lynch, and Jimmy Rogers, among others. Everything else was pretty dull.

There's a tad too much explaining about market movement, stock/option price fluctuation, trading floor characteristics (did you know that tons of money can be made or lost very rapidly?), chart patterns, etc., so I'm thinking that those familiar with stock and bond investing might wind up somewhat bored. Keep in mind, Mr. Insana was writing this in late-1995, way before many new investors were "seasoned" by the boom/bust in tech stocks, so some consideration of the time frame is warranted.

Overall, "Traders' Tales" might have mild appeal either to someone who has no experience with the stock markets, or to investors who might want to learn what all the market gurus we follow were doing decades ago.

I work in the business but not on Wall Street. I have read quite a few books on the business and this is one of the more forgettable. It possibly would be interesting to someone who doesn't know much about the business and it does attempt to be funny, but frankly, it's really not. Pass on this one and look for the next Liar's Poker. This one has been done before and better.

I had been misled by the "advance acclaim" for the author by Stanley Druckenmiller and Michael Steinhardt. I really doubt whether they had finished the book at all. The book is so boring and full of dull short stories of a mixed variety that takes you nowhere and gives you no fun nor knowledge. Even worse, the story telling skill is really bad. In a word, dont waste your time and money on it.

Read the book if you want to be entertained. Find another one if you want to learn about investing.

What looked to be a promising collection of tales from the street fizzled almost from the start. Fairly lame stories, told with almost no writing style or flair whatsoever. And to top it all off, no appearance of editing at all. References made to "Truman winning the election of 1946" (he beat Dewey in '48) and "Home Depot, the home office supply store" (that would be Office Depot). I felt ripped off, and I got it from the Library! Save your money and re-read Liar's Poker or A Piece of the Action.

The book is of little value to anyone whether you are a professional investor or an amateur. Most of the stories are bland and simply not funny nor do they provide any insight whatsoever into the world of Wall Street. Bottom line: don't waste your time and money on this book.

There is nothing of value in this collection of a 1-2 page stories for either the novice or experienced trader or investor. It is beyond me how this book was seen as attractive enough to actually publish. There is nothing useful whatsoever that a trader or investor can use in his or her market strategies.