From Publishers Weekly
Lowenstein argues that the frenzied turnover in trading stocks is endangering the stability of America's economy. He decries the creation of "derived securities" like stock index futures and the dangerous levels of debt used to finance hostile takeovers. This is "a thought-provoking analysis of our stock markets' recent performance," wrote PW.
Copyright 1989 Reed Business Information, Inc.
Copyright 1989 Reed Business Information, Inc.
From Library Journal
Present-day financial markets, observes Columbia professor Lowenstein, have evolved into a speculative, short-term trading environment contrary to investors' best interests. The message is not new, but seldom has it been presented in as lucid and erudite a manner. Lowenstein places present-day markets in historical perspective and discusses such topics as the role of derivative products and takeover activity in the contemporary market atmosphere. This speculative atmosphere, he maintains, undermines the role and responsibilities of the stockholder as owner of the corporation. Recommended for serious market players and students.Joseph Barth, U.S. Military Academy Lib., West Point, N.Y.
Copyright 1988 Reed Business Information, Inc. --This text refers to an out of print or unavailable edition of this title.
Copyright 1988 Reed Business Information, Inc. --This text refers to an out of print or unavailable edition of this title.
